Search results for: Economy

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...

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...

BB to announce new monetary policy Sunday  

-- 2023-01-13 18:22:30

Bangladesh Bank (BB) is going to announce a new monetary policy on Sunday in line with the advice of the International Monetary Fund (IMF). Bangladesh requested the IMF for a loan of $4.5 billion las...

‘US labour markets, consumer demand remains strong despite increase in interest rates’

-- 2023-01-13 17:53:56

International Monetary Fund Managing Director Kristalina Georgieva said on Thursday that there is mounting evidence that the United States can avoid recession this year and achieve a “soft landi...

Argentina's inflation rate at 95pc, highest since 1991

-- 2023-01-13 12:19:54

Argentina's annual inflation hit its highest rate in more than 30 years last month as prices almost doubled versus a year ago, official data released on Thursday showed, further eroding consumers' dwi...

China's exports, imports shrink again in December

-- 2023-01-13 10:24:59

China's exports shrank sharply in December as global demand cooled, missing their typical year-end bounce, while imports tumbled again as surging COVID-19 infections and a property downturn weighed he...

China's on the move again, economic outlook brightens

Reuters 2023-01-13 08:28:52

Residents of China are increasingly on the move after the country's sudden reversal last month of heavy COVID-19 curbs, despite a surge in infections, pointing to a gradual recovery in consumption and...

Headwinds from multiple fronts may hit Bangladesh economy

FE REPORT 2023-01-13 08:09:25

Bangladesh's economy is under risk of facing multiple headwinds, mainly from three fronts like inflation, debt crisis and severe commodity-price shocks, says the World Economic Forum (WEF) in its glob...

Advance-deposit ratio of banks rises

JASIM UDDIN HAROON 2023-01-13 08:05:14

Banks' loan-to-deposit ratio rose in December as deposit growth continued to slow, giving economists to predict its impact on the liquidity position. The advance-to-deposit ratio (ADR) increased to 7...

Q1 performance of FY23 budget satisfactory, says Kamal

-- 2023-01-12 19:22:43

The position of basic macroeconomic indexes including revenue collection, remittances, export growth, annual development programme (ADP) expenditure and money supply in the first quarter (July-Septemb...

RMG exports to EU post 16.61pc growth

-- 2023-01-12 17:06:06

Bangladesh's apparel exports to the European Union (EU) increased by 16.61 per cent to $11.50 billion during the first half (July-December) period of the current fiscal year (FY23) compared to $9.87 b...

ICCB for steps to tackle recessionary risks of Bangladesh

-- 2023-01-12 16:21:04

Although Bangladesh may not go into recession, the country is significantly prone to many of the recessionary risks if appropriate steps are not taken to diversify the export product and basket and in...

'Covid-19 lockdowns spark socio-economic crises'

FE REPORT 2023-01-12 13:36:51

Lockdowns imposed across the world during the peak times of Covid-19 pandemic resulted in many socio-economic crises, which now raises the question of worthiness of such strict measures, according to...

Big buys spending Tk 195.35b get go-ahead

FE REPORT 2023-01-12 09:11:02

Bangladesh will buy 2.10 million tonnes of refined fuel oil from India and five other countries under a package of purchases approved Wednesday to meet demands in 2023. The Cabinet Committee on Gover...

Bangladesh to earn $5b from ICT sector by 2025, Palak hopes

-- 2023-01-11 21:29:37

State Minister for Information and Communication Technology (ICT) Zunaid Ahmed Palak has said the country's export earnings will be five billion US dollars from the ICT sector along with huge employme...

Environment risks dominate in ‘polycrisis’ world: WEF survey

-- 2023-01-11 18:44:18

Failure to tackle climate change and environmental degradation dominate the ranking of top risks facing the planet in the next decade, a World Economic Forum (WEF) survey of global risk specialists fo...

WB lowers sees India growth forecast to 6.6pc in FY24

-- 2023-01-11 15:56:04

India's economic growth will slow to 6.6 per cent in the next fiscal year from an expected 6.9 per cent in the current year, the World Bank said in its latest economic update. "The slowdown in the gl...

World Bank lowers Bangladesh growth forecast further to 5.2pc

-- 2023-01-11 11:21:40

The World Bank has cut Bangladesh’s economic growth forecast for the 2022-23 fiscal year further by a 0.9 percentage point to 5.2 per cent, due to a combination of factors -- elevated inflation,...

Economic zones create 50,000 jobs so far

FE REPORT 2023-01-11 10:26:46

The economic zones (EZs) across the country have already created 50,000 jobs and will create more in near future as new industrial units are set to go into operations there, said Bangladesh Economic Z...

Half-yearly monetary policy too soon

JASIM UDDIN HAROON 2023-01-11 08:53:31

Bangladesh's central bank is agog to launch the country's half-yearly monetary policy Sunday, while many targets last set for up to December have gone missing largely for global and local disarrays....

Global economy could easily tip into recession in 2023: World Bank

-- 2023-01-10 21:39:46

The World Bank slashed its 2023 growth forecasts on Tuesday to levels teetering on the brink of recession for many countries as the impact of central bank rate hikes intensifies, Russia's war in Ukrai...

China central bank to support private firms, ease tech crackdown

FE ONLINE DESK 2023-01-10 12:03:56

China's central bank will step up support for private firms as part of steps to shore up the economy, while easing a crackdown on tech companies, Guo Shuqing, Communist party chief of the People...

Taiwanese apparel maker to invest $17m in Bay EZ

FE REPORT 2023-01-10 10:58:37

Makalot (BD) Ltd, a Taiwanese apparel maker, is set to invest $17 million to establish an industrial unit at a private economic zone (EZ) in Bangladesh. The factory is expected to create job opportun...

Sending workers to Japan rises

ARAFAT ARA 2023-01-10 08:54:34

Sending manpower from Bangladesh to Japan has increased significantly in recent years following demand from the employers of different sectors. The East Asian nation hired 180 workers as technical in...

Bangladesh working to implement IMF conditions to get $4.5b loan

-- 2023-01-09 19:56:43

Bangladesh government is working to gradually implement almost all conditions of the International Monetary Fund (IMF) to get a US$4.5 billion loan from the Washington-based lender, to meet the foreig...

British investors keen to invest in various sectors of Bangladesh

-- 2023-01-09 19:29:17

British Prime Minister's trade envoy to Bangladesh Rushanara Ali, MP, has said that British investors are interested to invest in various sectors of Bangladesh. The British MP said this, while she me...