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Search results for: Economy

Argentina and China formalise currency swap deal

Argentina and China formalise currency swap deal

FE ONLINE DESK 2023-01-09 09:50:32

Argentina and China have formalised the expansion of a currency swap deal, allowing the South American country to increase its depleted foreign currency reserves, the Argentine central bank said on Su...

Interest rate caps to continue

Interest rate caps to continue

FE REPORT 2023-01-09 08:45:32

Bangladesh Bank (BB) governor Abdur Rouf Talukder has hinted at the continuation of the interest-rate caps on term and working-capital loans, at least, for the next six months. "This is not the time...

BB simplifies documentary formalities of NRBs for opening Taka accounts

BB simplifies documentary formalities of NRBs for opening Taka accounts

-- 2023-01-08 19:17:53

Bangladesh Bank (BB) has simplified documentary formalities for opening Non-Resident Investor's Taka Accounts (NITAs). The Foreign Exchange Investment Department (FEID) issued a circular on Sunday an...

Matarbari will become regional hub in South-Asian economy: Experts

Matarbari will become regional hub in South-Asian economy: Experts

-- 2023-01-08 16:42:15

The government is constructing a deep seaport at Matarbari of Cox's Bazar to help the country handle growing volumes of exports and imports and ease the pressure on the country’s principal seapo...

Pakistan's finance minister to meet IMF in Geneva, with bailout stalled

Pakistan's finance minister to meet IMF in Geneva, with bailout stalled

FE ONLINE DESK 2023-01-08 14:17:20

An International Monetary Fund (IMF) delegation will meet Pakistan's finance minister on the sidelines of a conference in Geneva beginning on Jan 9, a spokesperson of the lender said on Sunday,...

Losses from road accidents 1.5 pc of GDP last year: RSF

Losses from road accidents 1.5 pc of GDP last year: RSF

FE REPORT 2023-01-08 09:13:59

Road accidents caused a loss of Tk180.46 billion or over 1.5 per cent of the country's gross domestic product (GDP) in 2022, according to the Road Safety Foundation (RSF). The RSF, in its report find...

Govt agencies often take development projects sans due diligence

Govt agencies often take development projects sans due diligence

FHM Humayan Kabir 2023-01-08 09:10:42

Some government agencies often take up development projects without specifying the scope of work, designs and detailed cost breakdown that cause wastage of public money, insiders said on Saturday. La...

Salehuddin stresses visible steps to restore 'good governance' in banking sector

Salehuddin stresses visible steps to restore 'good governance' in banking sector

-- 2023-01-07 18:35:50

Former central bank Governor Dr Salehuddin Ahmed has urged the concerned authorities to make public all the initiatives and operations undertaken in the banking and financial sector of the country. H...

India to host virtual summit of about 120 developing countries in January

India to host virtual summit of about 120 developing countries in January

FE ONLINE DESK 2023-01-07 15:17:18

India will host a virtual summit of around 120 developing countries next week, its foreign minister said on Friday, as the country looks to bolster international cooperation during i...

How strained China-Australia relations hit trade in coal, barley, beef and wine

How strained China-Australia relations hit trade in coal, barley, beef and wine

FE ONLINE DESK 2023-01-07 12:49:56

China is resuming coal trade with Australia after a three-year halt following strained relations between the two countries over wider issues, Re...

CAs should prepare to embrace disruptive technologies

CAs should prepare to embrace disruptive technologies

FE Report 2023-01-07 09:05:24

The Chartered Accountant (CA) professionals should prepare to embrace the disruptive technologies so that they can play their desired roles in businesses and the national economy, speakers viewed at a...

New monetary stance inspires slim hopes for rate caps

New monetary stance inspires slim hopes for rate caps

JASIM UDDIN HAROON 2023-01-07 08:41:28

The central bank may launch its half-yearly monetary policy stances for Bangladesh for H2 of this fiscal year on January 15, amidst skepticism on its efficacy with capped interest regime in place. Th...

Indian economic growth to slow to 7.0pc

Indian economic growth to slow to 7.0pc

-- 2023-01-06 21:06:43

India's government expects economic growth to slow in the financial year ending March, as pandemic-related distortions ease and pent-up demand for goods levels out going into 2023. Gross domestic pro...

Europe's inflation slows but cost of living still high

Europe's inflation slows but cost of living still high

-- 2023-01-06 19:22:50

Europe ended a bad year for inflation with some relief as price gains eased again. While the cost of living is still painfully high, the slowdown is a sign that the worst might be over for weary consu...

Bangladesh now 35th largest economy: Visual Capitalist

Bangladesh now 35th largest economy: Visual Capitalist

-- 2023-01-06 18:27:24

Bangladesh is now the 35th largest economy in the world, according to a report titled 'The Top Heavy Global Economy', published by 'Visual Capitalist'. Bangladesh and India were the only two South As...

‘Reducing inflation top priority for South Asia’

‘Reducing inflation top priority for South Asia’

-- 2023-01-06 17:48:31

Taming inflation is the top priority for South Asian countries as risks to growth and investment outlook could rise if price pressures persist at high levels, Reserve Bank of India (RBI) Governor Shak...

Japan's real wages fall at fastest pace in over eight years in November

Japan's real wages fall at fastest pace in over eight years in November

-- 2023-01-06 12:53:03

Japan reported on Friday its worst real-wage decline in more than eight years, with November data highlighting the elusiveness of the central bank's objective of reinforcing inflation and the economy...

Inflation, foreign debt affect economy

Inflation, foreign debt affect economy

FE REPORT 2023-01-06 08:51:31

Persistent higher inflationary pressures, rising cost of foreign borrowing and debt burden overshadow Bangladesh's economic rebound, the central bank says. In its latest available quarterly economi...

Banks' bad loan write-off jurisdiction broadened

Banks' bad loan write-off jurisdiction broadened

FE REPORT 2023-01-06 08:42:50

Discretionary authority of banks on loan write-off is broadened with the volume of elimination of receivable amounts from their balance sheets increased by 150 per cent. The central bank of Banglad...

Sri Lanka to restart trade deal talks with India, China, Thailand

Sri Lanka to restart trade deal talks with India, China, Thailand

-- 2023-01-05 17:15:35

Sri Lanka will restart negotiations on trade pacts witha India, China and Thailand after a four-hear hiatus, an official said on Thursday, as the crisis-hit country races to seal deals to help it rebu...

Ukraine's economy falls 30.4pc in 2022

Ukraine's economy falls 30.4pc in 2022

-- 2023-01-05 14:51:33

Ukraine's gross domestic product fell by 30.4 per cent in 2022 - the largest annual fall in over 30 years - because of the war with Russia, Economy Minister Yulia Svyrydenko said on Thursday...

Forex borrowing thru offshore banking to continue

Forex borrowing thru offshore banking to continue

FE REPORT 2023-01-05 08:51:33

Placement of funds from offshore banking operations (OBOs) with domestic banking units will continue to facilitate import payment, at this hour of foreign-exchange crisis worldwide. The central bank...

India assures Bangladesh of providing energy support, says Nasrul

India assures Bangladesh of providing energy support, says Nasrul

-- 2023-01-04 22:01:01

State Minister for Power, Energy and Mineral Resources Nasrul Hamid has said Indian power and petroleum ministers assured of providing support to Bangladesh’s energy and power sector. "We have...

BB raises dollar exchange rate by Tk 1 to Tk 100

BB raises dollar exchange rate by Tk 1 to Tk 100

-- 2023-01-04 19:16:41

Bangladesh Bank (BB) on Wednesday increased the exchange rate of a US dollar by Tk 1 to Tk 100. Now, those who will buy dollars from the central bank will have to pay Tk100 for each US dollar. The c...

Govt bank borrowing balloons as revenues, savings tools sale fall

Govt bank borrowing balloons as revenues, savings tools sale fall

FE REPORT 2023-01-04 08:44:26

Government borrowings from banking system, including the central bank, nearly doubled to Tk 319.72 billion in six months to December 15 over the same period a year before, as resource mobilisation c...

China to fund potential Mongla port project

China to fund potential Mongla port project

MIR MOSTAFIZUR RAHAMAN 2023-01-04 08:42:16

A major development it is being billed as China finally agrees to fund a $400-million project for upgrading the Mongla seaport that holds potential to promote sub-regional cooperation. Officials sa...

Bangladesh eyes of France's continuous support for GSP+ bid beyond 2029

Bangladesh eyes of France's continuous support for GSP+ bid beyond 2029

-- 2023-01-03 20:10:03

State Minister for Foreign Affairs Md Shahriar Alam has expressed his optimism that France will continue to support Bangladesh's bid for a GSP+ facility beyond 2029 under the European Union's new GSP...

Pakistan's inflation jumps to 24.5pc in December

Pakistan's inflation jumps to 24.5pc in December

-- 2023-01-03 18:32:04

Pakistan's consumer price index (CPI), a main gauge of inflation, rose 24.5 per cent in December as compared to the same month a year ago when it was recorded at 12.28 per cent, Pakistan Bureau of Sta...

Sri Lanka registered 0.7m int'l tourists in 2022

Sri Lanka registered 0.7m int'l tourists in 2022

-- 2023-01-03 17:50:25

Sri Lanka's tourism ended the year 2022 on a positive note, as the arrivals of international visitors to the country topped the 700,000 mark despite the economic and political crisis, local media repo...

Dollar price for export proceeds raised to Tk 102

Dollar price for export proceeds raised to Tk 102

-- 2023-01-03 15:45:47

Foreign exchange dealers and banks have raised the US dollar exchange rate for export proceeds by Tk 1 to Tk 102. The decision was taken at a meeting between the Bangladesh Foreign Exchange Dealers A...