Search results for: EC

1.0pc people own more than 40pc of India’s wealth: Oxfam

-- 2023-01-17 19:46:58

India's top 1 per cent owned more than 40.5 per cent of its total wealth in 2021, according to a new report by Oxfam. In 2022, the number of billionaires in the country increased to 166 from 102 in 2...

Over 6000 computer viruses created every month

Safrina Kabir 2023-01-17 18:20:31

Did you know that among the numerous emails we receive daily, 90 per cent contain some form of malware? As scary as it sounds, almost 6000 computer viruses are programmed and spread every month. Yes,...

Tk 56.51b project approved for elevated road over Kishoreganj haors

-- 2023-01-17 17:48:18

The Executive Committee of the National Economic Council (ECNEC) has approved a Tk 56.51 billion project for the construction of an elevated road in the haor (wetland) region in Kishoreganj. The proj...

China’s economic growth falls to 3.0pc, gradually reviving

-- 2023-01-17 17:07:33

China's economic growth fell to its second-lowest level in at least four decades last year under pressure from anti-virus controls and a real estate slump, but activity is reviving after restrictions...

Russia's falling oil revenues could create vicious circle for budget, rouble

FE ONLINE DESK 2023-01-17 15:28:56

Russia's attempts to plug its budget deficit by selling foreign currency reserves could lead to a vicious circle that pushes the rouble higher and further reduces the Kremlin's crucial export re...

India writes to IMF backing Sri Lanka's debt restructuring plan

REUTERS 2023-01-17 15:10:20

India has told the International Monetary Fund (IMF) it will support Sri Lanka's debt restructuring plan, a source with direct knowledge of the matter said, as the island nation races to secure a $2.9...

BB raises rates on LTFF loans

FE REPORT 2023-01-17 12:50:41

Bangladesh Bank has raised the interest rate regarding Long Term Financing Facility (LTFF) under Financial Sector Support Project (FSSP). Foreign Exchange Policy Department of the central bank issu...

Sri Lanka to cut recurrent budget expenditure by 6pc in 2023

FE ONLINE DESK 2023-01-17 12:35:54

Sri Lanka's cabinet said on Tuesday that it will cut its recurrent budget expenditure by 6 per cent in 2023 as the country battles its worst financial crisis in seven decades and is seeking sup...

China's 2022 economic growth one of the worst on record, post-pandemic policy faces test

Reuters 2023-01-17 09:51:04

China's economic growth in 2022 slumped to one of its worst in nearly half a century as the fourth quarter was hit hard by stringent COVID curbs and a property market slump, raising pressure on policy...

Microsoft to expand ChatGPT access as OpenAI investment rumors swirl

Reuters 2023-01-17 09:43:10

Microsoft Corp on Monday said it is widening access to hugely popular software from OpenAI, a startup it is backing whose futuristic ChatGPT chatbot has captivated Silicon Valley. Microsoft said the...

Nigeria keen to invest in BD economic zones

FE REPORT 2023-01-17 08:50:17

A high-level delegation from Nigeria has shown keen interest to invest in Bangladesh's economic zones (EZ) in a bid to expand bilateral trade relations between the two countries. In response, the Ban...

Banks bet for deposit boost to replenish liquidity

JUBAIR HASAN 2023-01-17 08:45:43

Commercial banks have started pursuing their fresh deposit-alluring strategy as the newly monetary policy is changing the equations in the country's banking system for uncapping interest. In the mone...

3.5m Bangladeshis to remain jobless in 2023: Report

MONIRA MUNNI 2023-01-17 08:43:11

Around 3.5 million people in Bangladesh would remain unemployed in 2023, surpassing the pre-pandemic level by 0.4 million, necessitating prudent government policy interventions. The International Lab...

First-ever AI-generated mini-comic book in Bangladesh launched

-- 2023-01-16 19:49:06

For the first time in Bangladesh, a mini-comic book created with artificial intelligence (AI) was published on Sunday night. Science Bee, one of the largest science-based education platforms for yout...

External factors cast shadow on economic recovery: BB  

FE ONLINE REPORT   2023-01-16 18:41:09

Bangladesh Bank (BB) made a note of caution, stating that a number of external factors have clouded the strong recovery of the country’s economic activities in the current fiscal year (FY23). T...

EU's record recovery fund at risk as countries struggle to meet deadline

-- 2023-01-16 15:50:38

The risk that European Union governments will not be able to spend the largest aid package in its history is growing as members struggle to meet deadlines imposed by the bloc, officials from four coun...

IMF board likely to approve $4.5b loan for Bangladesh on Jan 30

FE ONLINE REPORT 2023-01-16 13:33:24

The executive board of International Monetary Fund (IMF) is expected to consider approving the $4.5 billion loan programme with Bangladesh on January 30. Visiting Deputy Managing Director (DMD) of IM...

Policy underway to dispose of govt assets after economic life

MUNIMA SULTANA 2023-01-16 08:47:04

The government has taken a move to dispose of all kinds of its assets at the end of their economic lives, aiming to increase revenue and save money spent on maintaining such assets. A disposal policy...

Islamic banks to rebound in 4-5 months: Rouf

FE REPORT 2023-01-16 08:26:29

Dismissing the concern about sustainability of the non-conventional banking system, Bangladesh Bank (BB) Governor Abdur Rouf Talukder on Sunday said the central bank's corrective measures would help t...

IMF lauds Bangladesh for proactive economic management

-- 2023-01-15 18:59:03

The International Monetary Fund (IMF) has lauded Bangladesh for its proactive economic management amid the coronavirus pandemic. Quoting the IMF Deputy Managing Director (DMD) Antoinette Monsio Sayeh...

‘Cautiously accommodative’ MPS unveiled for second half of FY23

-- 2023-01-15 17:58:44

Bangladesh Bank (BB) on Sunday announced a ‘cautiously accommodative’ Monetary Policy Statement (MPS) for the second half of the current fiscal year 2022-23 (H2FY23), according to BSS. &l...

Bangladesh Bank raises repo rate by 25 basis points to 6.0pc

-- 2023-01-15 16:41:02

Bangladesh Bank has raised its key interest rate, or repurchase agreement rate, by 25 basis points to 6 per cent as part of its efforts to contain inflationary pressure. The decision came on Sunday,...

BB unveils crucial MPS today: Main thrust to be on inflation control

FE REPORT 2023-01-15 08:52:20

Relaxing rate caps comes as a predominant suggestion as the central bank is set to launch today a new monetary-policy stance within a space squeezed by higher inflation, banks' liquidity crunch and...

IMF deputy managing director in Dhaka to finalise $4.5b loan

-- 2023-01-14 20:17:45

The deputy managing director (DMD) of the International Monetary Fund (IMF), Antoinette Monsio Sayeh, arrived in the capital on Saturday for a five-day visit. The high IMF official will stay in the c...

What will happen if the earth suddenly stopped spinning?

Shuvro Saif 2023-01-14 17:52:37

The earth moves around the sun at a very high speed, precisely 1000 miles per hour. Yet, the planet is so big a landmass that we don't consciously feel this spinning speed. What if the earth stops s...

Twitter offers free ads to brands that advertise on its platform: WSJ

Reuters 2023-01-14 12:55:16

Twitter Inc is offering free advertisements to brands that advertise on its platform, an attempt to woo brands back to the social-media platform, which has seen its ad business deteriorate following E...

Spotify down for thousands of users: Downdetector

Reuters 2023-01-14 09:13:49

Audio streaming platform Spotify was down for thousands of users on Friday, according to outage tracking website Downdetector.com. Downdetector, which tracks outages through a range of sources includ...

Govt searches foreign funds for financing budget deficit

FHM HUMAYAN KABIR 2023-01-14 08:51:34

Government officials gear up for getting released foreign aid already committed by "development partners" for bankrolling different projects, but held back, as confirmation of budget supports is delay...

Rate rises could add $8.6t to global borrowing costs: S&P

-- 2023-01-13 20:21:22

Central bank rate rises could land global borrowers with $8.6 trillion in extra debt servicing costs in coming years, S&P Global estimated on Friday, warning of a slowdown in economic activity as...

Pakistan’s forex reserves fall by $1.23 billion

-- 2023-01-13 19:21:14

The State Bank of Pakistan (SBP) announced that its foreign exchange reserves had decreased by 1.23 billion US dollars. During the week ending on Jan. 6, the total foreign exchange reserves of the Pa...