Search results for: EC

BDT falls more against US$

SIDDIQUE ISLAM 2022-05-10 08:29:45

The exchange rate of Bangladesh taka (BDT) again dropped against the US dollar (US$)- mainly due to higher demand for the greenback for settling import-payment obligations. The local currency lost it...

Debt discomfort may stare at Bangladesh too

FE REPORT 2022-05-10 08:27:38

Bangladesh too may get into "discomfort" with its foreign debt after the fiscal year 2024-25 particularly following big borrowings for megaprojects having little immediate returns, says CPD's Dr Debap...

Finance minister thanks ADB for providing budget aid to tackle pandemic

-- 2022-05-09 22:48:01

Finance Minister AHM Mustafa Kamal on Monday thanked Asian Development Bank (ADB) for providing Bangladesh with $1.0 billion as budget aid to face the adverse economic impact of the Covid-19 pandemic....

Bangladesh earns $4.73 billion from exports in April

-- 2022-05-09 20:18:34

Bangladesh’s exports have continued to grow, with a 51.18 per cent year-on-year rise in April, despite the ripple effects of the Ukraine-Russia war across the globe. In the same period last yea...

Bangladesh Bank struggles to meet dollar demand

-- 2022-05-09 19:08:00

Bangladesh Bank (BB) is struggling to meet the growing demand for the US dollar amid a sharp rise in post-pandemic economic activities. The number of credit bonds or LCs for importing goods is incr...

Spending of high-value foreign debt increases at nonproductive sector, CPD says

-- 2022-05-09 17:52:34

Although Bangladesh remains in a suitable position on public debt, it may be pushed to yellow rate after FY 25 as spending of high-value foreign debt increases at the nonproductive sector, a CPD study...

Ukraine exports over 1m tonnes of grain in April

-- 2022-05-09 17:10:19

Ukraine has sown about 7.0 million hectares of spring crops so far this year, or 25-30 per cent less than in the corresponding period of 2021, and exported 1.090 million tonnes of grain in April, Ag...

‘US entrepreneurs keen to invest in smart Bangladesh'

-- 2022-05-09 16:43:04

Prime Minister's Private Sector Industry and Investment Adviser Salman F Rahman on Monday said the visiting delegation of the US Bangladesh Business Council has expressed their keenness to invest in '...

Lanka forex crunch: Bangladesh extends loan tenure

FE REPORT 2022-05-09 08:44:22

Bangladesh extends the tenure of a bilateral currency-swap agreement with Sri Lanka by a year in consideration of foreign-exchange crunch the cash-strapped island nation suffers. Officials Sunday sai...

Current-account deficit balloons to $14 billion

SIDDIQUE ISLAM 2022-05-09 08:24:50

Bangladesh's current-account deficit hits an 'all-time high' at $14.07 billion as widening trade gap coupled with lower remittance receipts affects the macroeconomic balance, officials say. The count...

AIIB considers granting $100m in emergency support to Sri Lanka

-- 2022-05-08 19:48:08

The China-backed Asian Infrastructure Investment Bank (AIIB) is considering granting $100 million in emergency support to Sri Lanka, the country's finance ministry said on Sunday. Sri Lanka has reque...

Imports jump 50pc in nine months of FY '22

SIDDIQUE ISLAM 2022-05-08 08:29:31

Bangladesh's overall imports jumped by nearly 50 per cent in the first nine months of this fiscal year (FY '22) following higher imports of fuel oils and industrial raw materials, officials said. The...

Movies to watch with your mother

Megh Rahman 2022-05-07 20:56:42

There is a saying that God can’t be everywhere so he created mothers. Maa, Mamoni, Aai, Amma, Ammi, Mummy, Momma, Mommy and there are many more words that illustrate the same feeling, the feeli...

Income Tax Wing has four months to meet remaining 50pc target

-- 2022-05-07 18:10:36

The National Board of Revenue (NBR) has taken a tougher move to increase its collection from the Income Tax Wing by expanding its net and realising outstanding taxes, as in the first eight months of t...

Somalia seeks three-month extension of its IMF support programme

-- 2022-05-07 16:07:30

Somalia's government has asked the International Monetary Fund (IMF) to extend its financial support by three months to August 17, the head of the IMF's country mission told news agency Reuters. The...

China orders livestreaming platforms to step up oversight of underage users

-- 2022-05-07 12:15:10

China on Saturday ordered internet platforms to step up governance of how under-18s use their livestreaming services as part of an ongoing regulatory crackdown on the booming sector. The platforms ne...

ADB to provide $500m more as budget support

FHM HUMAYAN KABIR 2022-05-07 09:10:38

Bangladesh is likely to get another $500 million worth of budget support from the Asian Development Bank (ADB) within this calendar year as the government has recently completed negotiations in this...

India hikes repo rate by 40 bps to 4.4pc in first change after two years

-- 2022-05-06 19:19:58

India's central bank has raised the benchmark interest rate for the first time in two years in an attempt to rein in high consumer prices. The Reserve Bank of India (RBI) raised the repo rate - at wh...

FAO says food security remains a concern despite slight drop in prices

-- 2022-05-06 16:37:16

World food prices eased slightly in April after hitting a record high in March, but global food security remained a concern because of the difficult market conditions, UN food agency said on Friday....

BoE flags risk of recession and 10 per cent inflation as it raises rates again

-- 2022-05-06 13:54:49

The Bank of England sent a stark warning that Britain risks a double-whammy of a recession and inflation above 10 per cent as it raised interest rates on Thursday to their highest since 2009, hiking b...

Eid raises April remittance inflow to $2.01b

FE REPORT 2022-05-06 08:43:49

The flow of inward remittances increased further in April 2022 due to celebration of the Eid-ul-Fitr, the largest religious festival of the Muslims, officials said. The money, sent home by Banglade...

Remittance inflow in April reaches $2.09b

-- 2022-05-05 21:43:13

Bangladesh received $2.09 billion in remittances in April, the highest amount in a single month of the current fiscal year. Bangladesh Bank (BB) published the updated information on Thursday (May 05)...

NBR to speed up VAT collection to meet target

-- 2022-05-05 17:41:38

The National Board of Revenue (NBR) has asked its field offices to expedite the Value Added Tax (VAT) collection as the collection from the pocket is only 56.15 per cent in the first eight months of t...

Sri Lankan tea pickers' dreams shattered by economic crisis

-- 2022-05-05 13:12:43

On a lush plantation in Sri Lanka, Arulappan Ideijody deftly plucks the tips of each tea bush, throwing them over her shoulder into an open basket on her back, Reuters reports. After a month of picki...

Global hunger may worsen without urgent action, says UN agency

-- 2022-05-04 17:53:09

Conflict, extreme weather and economic shocks increased the number of people facing a severe lack of food by a fifth to 193 million last year and the Ukraine war means the outlook will worsen without...

Sri Lanka plans to replace 'unrealistic' budget

-- 2022-05-04 14:36:41

Sri Lanka plans to replace its current "unrealistic" budget and is in talks with the World Bank to extend its support by $300 million to $700 million, the country's finance minister said on Wednesday....

Musk says Twitter may introduce fee for some users

-- 2022-05-04 11:40:13

Elon Musk said on Tuesday Twitter will always be free for casual users but may charge a slight fee for commercial and government users, as the billionaire entrepreneur tries to boost the social media...

ADB approves policy-based lending to $18b for 2022–24 

-- 2022-05-03 22:26:17

The Asian Development Bank (ADB) has approved a ceiling of up to $18 billion in policy-based lending (PBL) between 2022 and 2024 and enhanced its crisis-response instruments to support its developing...

Australia hikes interest rates by surprisingly-large 25 basis points

-- 2022-05-03 22:20:39

Australia's central bank on Tuesday raised its cash rate by a surprisingly-large 25 basis points to 0.35 per cent, the first hike in over a decade, and flagged more to come as it pulls down the curtai...

Musk seeks to put in less money in new Twitter deal financing, sources say

-- 2022-05-03 11:14:12

Elon Musk is in talks with large investment firms and high net-worth individuals about taking on more financing for his $44 billion acquisition of Twitter Inc and tying up less of his wealth in the...