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The Financial Express

Search results for: bangladesh

Revenue collection to face severe blow, NBR official warns

Revenue collection to face severe blow, NBR official warns

-- 2020-04-09 14:19:49

The revenue collection in Bangladesh will face a severe blow due to slowdown in economic activities in the country and elsewhere in the world following the coronavirus outbreak. "Yes, there’ll...

Business leaders for task force to oversee measures

Business leaders for task force to oversee measures

FE REPORT 2020-04-09 10:04:06

The country's business leaders underscored the need for forming a task force to implement different measures the government had taken to overcome the losses caused by COVID-19 outbreak. They said the...

WB tells govt to divert funds from less-important projects

WB tells govt to divert funds from less-important projects

FHM HUMAYAN KABIR 2020-04-09 09:21:02

The World Bank (WB) has advised Bangladesh to divert unutilised funds from the ongoing less-important development projects to help strengthen its fight against coronavirus, officials said on Wednesday...

Worst-ever economic depression likely

Worst-ever economic depression likely

Rezaul Karim 2020-04-09 08:39:40

The country's economic sectors might face a worst-ever recession in the wake of the coronavirus pandemic, according to a position paper of commerce ministry. The paper was presented at a high-level...

Hotel workers passing difficult time without jobs

Hotel workers passing difficult time without jobs

-- 2020-04-08 19:52:56

Thousands of workers of different hotels, restaurants and sweetmeat shops are going through a tough time without jobs as most eateries have been closed down amid a government-announced general holiday...

IFIC Bank donates Tk 50m to PM Fund

IFIC Bank donates Tk 50m to PM Fund

FE Online Desk 2020-04-08 16:49:50

IFIC Bank Limited has donated Taka 50 million to Prime Minister’s Relief and Welfare Fund to help fight the outbreak of Coronavirus or COVID-19.   The Bank handed over the cheque to the P...

ESCAP’s pre-COVID projection sees 7.8pc economic growth in BD

ESCAP’s pre-COVID projection sees 7.8pc economic growth in BD

FE Online Report 2020-04-08 16:46:15

The economy of Bangladesh may grow by 7.80 per cent in the current fiscal year (FY210), according to a projection of the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP)....

BMBA for reduction of corporate tax

BMBA for reduction of corporate tax

Mohammad Mufazzal 2020-04-08 09:50:00

Bangladesh Merchant Bankers Association (BMBA) has prepared a set of budget proposals including more reduction of corporate tax for listed companies. The BMBA sent their budget proposals, made for...

BSEC yet to publish latest annual report

BSEC yet to publish latest annual report

FE Report 2020-04-08 09:47:14

The securities regulator is yet to publish its annual report for the fiscal year (FY) 2018-19, though the ongoing FY 2019-20 will be ended within June 30, 2020. The officials of the Bangladesh Secu...

Tourism sector may face Tk 60.00b loss this year

Tourism sector may face Tk 60.00b loss this year

-- 2020-04-07 17:34:14

Tourism sector of Bangladesh might face a loss of Tk 60.00 billion from January to December this year due to coronavirus outbreak as the sector has been affected most by the pandemic. The Tour Operat...

‘Open MFS accounts for industry workers by April 20’

‘Open MFS accounts for industry workers by April 20’

-- 2020-04-07 17:04:58

Bangladesh Bank (BB) has issued an instruction on opening mobile financial service (MFS) accounts for all workers and employees of export-oriented industries and factories by April 20.  “T...

BB increases Export Development Fund to $5.0b

BB increases Export Development Fund to $5.0b

-- 2020-04-07 16:22:58

Bangladesh Bank has raised the Export Development Fund (EDF) to $5.0 billion in line with the government's efforts to limit the economic impacts of the coronavirus crisis. Exporters will now be able...

SANEM welcomes govt’s financial package to address coronavirus crisis

SANEM welcomes govt’s financial package to address coronavirus crisis

FE ONLINE DESK 2020-04-07 16:08:07

South Asian Network on Economic Modeling (SANEM) has welcomed the government's financial package to address the crisis caused by the coronavirus. “As we have suggested for the two-year economy...

Some 73pc MNCs see price erosion in 1 yr

Some 73pc MNCs see price erosion in 1 yr

Babul Barman 2020-04-07 08:56:48

Multinational companies suffered losses between 7.25 per cent and 62.23 per cent in last one year until March 25 this year in tandem with the price erosion by most of the local companies. Of the 11 m...

Nine listed cos postpone AGMs

Nine listed cos postpone AGMs

FE Report 2020-04-07 08:43:54

Some nine listed companies have postponed their annual general meeting (AGM) due to `unavoidable' circumstances created following the outbreak of COVID-19. The companies' AGMs for the year ended o...

Unbanked firms stand to miss out

Unbanked firms stand to miss out

FHM Humayan Kabir 2020-04-07 08:09:52

Often bypassed by banks, the informal sector is unlikely to get much benefit from the government's Tk 727.50 billion stimulus package, fear economists. They hailed the Prime Minister for unveiling...

Vivo extends warranty of its smartphones till May 31

Vivo extends warranty of its smartphones till May 31

FE Online Desk 2020-04-06 21:30:32

Vivo announced that it will be extending the warranty of its smartphones till May 31. This extension applies to whose warranty was expired on March 25. In the wake of the current Coronavirus outbreak...

State-owned banks donate Tk  50m to PM Fund

State-owned banks donate Tk 50m to PM Fund

FE Online Desk 2020-04-06 17:34:38

State-owned Sonali Bank Limited, Janata Bank Limited, Agrani Bank and Rupali Bank Limited jointly donated Taka 50 million to the Prime Minister's Relief and Welfare fund to help fight deadly coronavir...

Eastern Bank declares 25pc cash dividend

Eastern Bank declares 25pc cash dividend

FE Online Report 2020-04-06 13:20:33

The board of directors of Eastern Bank Limited (EBL) has recommended 25 per cent cash dividend for the year ended on December 31, 2019, officials said. A meeting of board of directors of the bank was...

Bourses to remain shut until April 14

Bourses to remain shut until April 14

FE Online Report 2020-04-06 12:16:45

The country’s two bourses will remain closed until April 14 as the government extended the holiday to contain the spread of deadly coronavirus (COVID-19). The government on Sunday issued a ne...

Minimum shareholding rules: Firms take advantage of lax implementation by BSEC

Minimum shareholding rules: Firms take advantage of lax implementation by BSEC

Babul Barman 2020-04-06 10:44:23

Some 149 sponsor-directors and 45 listed firms have yet to comply with the minimum shareholding rules, although eight years had elapsed since the enactment of the rules. Individually, the directors d...

CPD projects Tk 1.0tn revenue shortfall

CPD projects Tk 1.0tn revenue shortfall

FE REPORT 2020-04-06 09:43:46

The Centre for Policy Dialogue (CPD) predicts a Tk 1.0-trillion revenue collection shortfall this fiscal considering the impact of COVID-19 on the economy. It also apprehends adverse implications for...

Kamal sees 8.0pc GDP growth unless outbreak lingers

Kamal sees 8.0pc GDP growth unless outbreak lingers

FE Report 2020-04-06 09:30:11

Finance Minister A H M Mustafa Kamal has said COVID-19 outbreak is slowing down economic activities, but the country will see nearly 8.0 per cent gross domestic product (GDP) growth in the current fis...

Financing recovery plan: Economists say banks' liquidity poses challenge

Financing recovery plan: Economists say banks' liquidity poses challenge

JASIM UDDIN HAROON 2020-04-06 08:25:48

Banks' liquidity shortage will make it exceedingly challenging for the government to bankroll the stimulus package of Tk 727.50 billion, economists say. In a televised news conference, Prime Minister...

Factories in all EPZs to remain shut until Apr 14

Factories in all EPZs to remain shut until Apr 14

-- 2020-04-05 22:37:21

All factories in the country’s eight export processing zones (EPZs) under Bangladesh Export Processing Zones Authority (BEPZA) will remain shut until April 14 from Monday to prevent the spread o...

Localisation of SDGs to counteract Covid-19 fallout

Localisation of SDGs to counteract Covid-19 fallout

Shamsul Alam   2020-04-05 21:19:11

It is not possible to achieve sustainable development goals (SDGs) solely at the call of the governments or world leaders at the United Natios (UN), even with only national-level programmes. These m...

Economists outline some challenges of stimulus package

Economists outline some challenges of stimulus package

Jasim Uddin Haroon 2020-04-05 19:41:19

Leading economists of the country have identified several challenges in implementing the stimulus packages of Tk 727.50 billion, announced by the Prime Minister. Prime Minister Sheikh Hasina announc...

PM’s stimulus package to save economy, livelihood: FBCCI

PM’s stimulus package to save economy, livelihood: FBCCI

FE Online Desk 2020-04-05 18:29:47

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) on Sunday welcomed the stimulus package of Tk 72,750 crore, declared by Prime Minister Sheikh Hasina to help mitigate the impact...

BSCIC industry owners seek special consideration

BSCIC industry owners seek special consideration

FE Online Desk 2020-04-05 18:21:01

BSCIC Industry Owners’ Association has sought special package to save the sector from the wrath of the present economic woes, created due to Covid-19 pandemic. "At present, 76 BSCIC industria...

Exim Bank donates Tk 50m to PM Fund

Exim Bank donates Tk 50m to PM Fund

FE Online Desk 2020-04-05 18:02:33

EXIM Bank donated Tk 50 million to the Prime Minister’s Relief and Welfare Fund for providing Personal Protective Equipments (PPE)/Testing Kits/Respiratory Equipments and helping the needy and p...