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Search results for: Economy

India says it is committed to boosting investment in crisis-hit Sri Lanka

India says it is committed to boosting investment in crisis-hit Sri Lanka

FE ONLINE DESK 2023-01-20 14:52:32

India has told Sri Lanka it is committed to boosting investment in its debt-ridden neighbour, to help pull it from its worst economic crisis in seven decades, Foreign Minister Subrahmanyam Jaish...

Sri Lanka expects financing assurances from China for IMF deal within days

Sri Lanka expects financing assurances from China for IMF deal within days

FE ONLINE DESK 2023-01-20 14:43:32

Sri Lanka expects to get China's backing for its debt restructuring plan within days to help unlock a $2.9 billion loan from the International Monetary Fun...

Forex reserve falls to $32.48b after ACU payment

Forex reserve falls to $32.48b after ACU payment

FE REPORT 2023-01-20 08:59:35

Bangladesh's foreign exchange reserves stood at US$32.48 billion on Thursday, following a payment of over $1.1 billion to the Asian Clearing Union (ACU) last week. The reserve was $33.75 billion at...

Eliminate BB-FID diarchy for sound banking

Eliminate BB-FID diarchy for sound banking

JASIM UDDIN HAROON 2023-01-20 08:52:07

Elimination of the Bangladesh Bank-FID (Financial Institution Division) diarchy in the banking sector is among major reforms being suggested by experts for tidying the industry as a remake of the law...

Padma Bridge project: Cost set to rise 8.88pc, work to take one more year

Padma Bridge project: Cost set to rise 8.88pc, work to take one more year

MUNIMA SULTANA 2023-01-20 08:49:15

The government is set to revise the Padma Multipurpose Bridge (PMB) project with both cost escalation and time extension. Officials said the third revised development project proposal (DPP) would see...

Germany wants to develop Bangladesh’s solar irrigation system

Germany wants to develop Bangladesh’s solar irrigation system

-- 2023-01-19 18:19:49

German Parliamentary State Secretary for Economic Cooperation and Development Dr Barbel Kofler has expressed his country's interest to support Bangladesh in the development of a solar irrigation syste...

‘Bangladesh on right track to become trillion-dollar economy by 2035’

‘Bangladesh on right track to become trillion-dollar economy by 2035’

-- 2023-01-19 18:16:34

Foreign Minister AK Abdul Momen on Thursday laid emphasis on stronger partnership and collaborations, noting that Bangladesh is moving towards the right direction to become a trillion-dollar economy b...

AIIB urged to relax lending terms, rate

AIIB urged to relax lending terms, rate

FE REPORT 2023-01-19 15:10:05

Bangladesh has requested the Asian Infrastructure Investment Bank (AIIB) to relax its lending terms and conditions amid the global economic situation, officials said on Wednesday. Visiting AIIB Vice...

Cashless BD campaign starts in Dhaka

Cashless BD campaign starts in Dhaka

FE REPORT 2023-01-19 09:18:37

The Bangladesh Bank (BB) launched 'Cashless Bangladesh, Smart Bangladesh' campaign from the capital's Motijheel area on Wednesday to bring small/micro merchants, like street vendors, under a low-cost...

AIIB keen to provide more support in Bangladesh's renewable energy

AIIB keen to provide more support in Bangladesh's renewable energy

-- 2023-01-18 21:44:17

State Minister for Planning Dr Shamsul Alam has said the Asian Infrastructure Investment Bank (AIIB) is eager to provide more support in helping strengthen the renewable energy sector and other green...

Bangladesh’s economy to reach $1 trillion by 2040

Bangladesh’s economy to reach $1 trillion by 2040

-- 2023-01-18 19:53:33

The size of Bangladesh’s economy will be $1.0 trillion by 2040, if the current consecutive growth of over 6.0 per cent continues while it will be achieved by 2030 if the growth goes over 8.0 per...

UK inflation edges down to 10.5pc in December, food prices surge

UK inflation edges down to 10.5pc in December, food prices surge

-- 2023-01-18 17:09:51

British inflation eased last month after hitting a 41-year high in October, offering some comfort to the Bank of England, but the pressure on households remained intense as food and drink prices rose...

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

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...

Tk 56.51b project approved for elevated road over Kishoreganj haors

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

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

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

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

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

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

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...

Nigeria keen to invest in BD economic zones

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

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

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...

External factors cast shadow on economic recovery: BB   

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

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

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

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

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

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

‘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...