Search results for: EC

Intel facing backlash from China after Xinjiang statement

-- 2021-12-23 10:27:42

US chipmaker Intel is facing a backlash from China after telling its suppliers not to source products or labour from the northwestern region of Xinjiang. Intel said it had been "required to ensure th...

ADB lends Bangladesh $2.6b, pledges $1.96b more

FE REPORT 2021-12-23 08:51:42

The Asian Development Bank (ADB) has confirmed US$$2.6 billion and pledged another tranche of $1.96 billion in assistance for Bangladesh to facilitate socioeconomic recovery and bankrolling its develo...

Bangladesh to receive $27.21m from Japan

-- 2021-12-22 20:58:44

The government of Japan will provide an overall amount of $27.21 million to Bangladesh against two projects. Out of the amount, Japan will provide 462 million Japanese Yen (equivalent to approximatel...

Bangladesh gets Tk 11b Swiss investments

-- 2021-12-22 17:24:08

Switzerland will invest around 119 million Swiss francs (CHF) or Tk 11 billion to implement its programme in Bangladesh over the next four years. As Switzerland and Bangladesh are about to celebrate...

World Bank lends $500m to modernise power system in Bangladesh

FE ONLINE REPORT 2021-12-22 16:02:50

The World Bank has approved US$500 million to help Bangladesh expand and modernise the electricity distribution system and support the sustainable transformation of its electricity system. The &l...

OFID to give Bangladesh $75m as budgetary aid

FHM Humayan Kabir 2021-12-22 10:14:57

The OPEC Fund for International Development (OFID) is going to provide US$ 75 million loans shortly to support Bangladesh's high-deficit budget, officials said on Tuesday. The Vienna-based lender wou...

Data support holds the key to post-LDC sustainability, says CPD's Debapriya

FE REPORT 2021-12-22 08:31:18

A deregulated liberalized economy emerging out of Bangladesh's LDC graduation needs full-blown information support to sustain, noted economists said Tuesday and suggested immediate cure for 'data blin...

Denmark, PPPA sign MoU to enhance Bangladesh’s economic growth

-- 2021-12-21 18:09:11

The Public Private Partnership Authority (PPPA), an autonomous government agency of Bangladesh, and Denmark have signed an MoU to enhance green infrastructure cooperation for Bangladesh’s sustai...

New initiatives, past investments empower Bangladesh to tackle pandemic

SHEIKH HASINA 2021-12-21 17:59:53

[Prime Minister Sheikh Hasina has written the following article in New York-based magazine FORTUNE on Monday.] Bangladesh could have fallen prey to COVID-19 but we acted fast to protect both our most...

Korea to provide $100m EDCF loan to Bangladesh for pandemic recovery

-- 2021-12-21 17:40:28

Bangladesh and South Korea have signed a loan agreement to provide US$100 million in concessional loans from the Economic Development Cooperation Fund (EDCF) to help the economic recovery of Banglades...

Malaysia's labour abuse allegations pose a risk to its export growth model

-- 2021-12-21 12:49:29

Malaysia's government and companies must address mounting allegations of workplace abuse of migrant labourers who fuel the country's economy, or face risks to its export-reliant growth model, experts...

Finance minister optimistic about 7.2pc GDP growth

FE REPORT 2021-12-21 08:37:39

Finance Minister AHM Mustafa Kamal is upbeat about attaining 7.2 per cent growth in gross domestic product (GDP) in the current fiscal year, true to the target set in the budget, following economic re...

WEF’s annual gathering called off due to omicron wave

-- 2021-12-20 18:25:23

The World Economic Forum (WEF) on Monday postponed its annual meeting in Davos due to the spread of the omicron coronavirus variant, putting off the event scheduled for January until mid-2022. A mont...

Remittance to exceed $25b by end of FY22, says minister

-- 2021-12-20 17:59:01

Finance Minister AHM Mustafa Kamal has said that he is hopeful that the country’s remittance will exceed $25 billion by the end of the current fiscal year (FY22), up from the current $21 billion...

Beware of fraud in Facebook second-hand PC market

Fardeen Kabir 2021-12-20 17:48:01

The second-hand computer market in the Facebook marketplace has become a major point of online trading for pc parts and components as the consumer base for computers in Bangladesh has grown substantia...

Kamal hopeful of 7.2pc GDP growth in FY22

-- 2021-12-20 17:43:12

Finance Minister AHM Mustafa Kamal has expressed his high optimism of achieving targeted 7.2 per cent GDP growth in the current fiscal year (FY22) since the country is on the right path towards develo...

Japanese space tourists return to Earth after 12 days

-- 2021-12-20 15:45:50

Japanese billionaire Yusaku Maezawa, a space enthusiast, returned to Earth on Monday after a 12-day journey into space. He has ended the trip as a practice run for his planned trip around the moon wi...

IMF asks Bangladesh to uncap lending, borrowing rates for fuelling credit flow

SIDDIQUE ISLAM 2021-12-20 09:38:58

The International Monetary Fund (IMF) suggests Bangladesh to phase out caps on the lending and borrowing rates to strengthen monetary transmission as lifeblood in the economic-recovery process. "Ca...

Borrowers of NBFIs can remain unclassified if 25pc repayment is made

FE REPORT 2021-12-20 08:19:35

The central bank further relaxed the repayment policy for the borrowers of outstanding loans or leases from non-banking financial institutions (NBFIs) to help the recovery of the pandemic-hit econom...

Capital market key to reducing infrastructure financing gap, DCCI President says

-- 2021-12-19 17:21:20

President of Dhaka Chamber of Commerce & Industry (DCCI) Mr Rizwan Rahman has said the tax difference between listed and non-listed companies should be rationalised to encourage good companies and...

IMF enhances growth projection for Bangladesh for FY’22

FE ONLINE REPORT 2021-12-19 13:36:19

The International Monetary Fund (IMF) has enhanced the economic growth projection for Bangladesh to 6.6 per cent for the current fiscal year (FY) from its October projection of 6.5 per cent. “G...

Bangladesh’s rebound from Covid quicker than regional peers: IMF

-- 2021-12-19 11:59:55

Bangladesh’s economy has rebounded from the Covid-19 pandemic ‘much quicker’ than other nations in the region due to the measures taken by the authorities, according to a staff team...

Are Pixel phones worth their price premium in Bangladesh?

Fardeen Kabir 2021-12-18 19:34:48

Pixel devices are famous for their seamless user experience, prolonged software support from Google and their industry-leading camera software. Although the Pixel phones have faced many criticisms fo...

Bangladesh plans to send 800,000 workers abroad in FY22

-- 2021-12-17 21:19:49

Bangladesh plans to send as many as 800,000 workers abroad in fiscal 2021-22, as Malaysia is set to reopen the labour market to workers from the South Asian country. In the first four months of the f...

Bangladesh at 50: From 'basket case' to rising economic star

Deutsche Welle 2021-12-17 19:09:12

[German state-owned international broadcaster Deutsche Welle published the following report on Thursday marking Bangladesh’s 50 years of a journey towards growth.] As Bangladesh marks the...

This subterranean creature has 1,306 legs. Yes, that's a record.

-- 2021-12-17 16:30:44

Deep underground in an exploratory drill hole in a mining region of Australia, scientists have discovered a "marvel of evolution," a remarkably elongated blind millipede possessing the most legs - 1,3...

Bangladesh adds 1.07 million mobile phone subscribers in October

FE ONLINE REPORT 2021-12-17 11:51:55

Bangladesh ended October with more than 181.32 mobile phone subscribers, up from 180.25 million  million in September. The number of mobile SIM users increased by 1.07 million in October compare...

World Bank fund for poorest nations gets a $93b injection of cash

FE ONLINE REPORT 2021-12-16 22:45:19

The World Bank has announced a $93 billion replenishment package of the International Development Association (IDA) to help low-income countries respond to the COVID-19 crisis and build a greener, mor...

Log4j security flaw can impact the entire internet: Report

-- 2021-12-16 17:00:34

A critical flaw in a widely-used software poses potential risks for the entire internet, according to a CNN report that quoted concerns raised by cybersecurity experts. The report, published on Wedne...

Bangladesh's services sector grows fast to 54pc of GDP

JASIM UDDIN HAROON 2021-12-16 08:39:15

Bangladesh's services sector has expanded by nearly 90 per cent over the past five years to Tk 18.98 trillion, a latest official count shows. The size of the services sector stretching over accommo...