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The Financial Express

Search results for: economy

SoEs' fund deposit: SoCBs to give 5.5pc interest rate

FE REPORT January 21, 2020 10:34:33

State-owned enterprises (SoEs), which will deposit their funds in private commercial banks (PCBs) and financial institutions (FIs), will get interest at 6.0 per cent rate, and at 5.5 per cent from sta...

Budget revision: Govt wants ministries to stick to original outlay

JASIM UDDIN HAROON January 21, 2020 10:11:01

The government has alerted its ministries and divisions to avoid spending beyond the original budget allocations as resource mobilisation becomes slower. The push comes at the meetings on budget revi...

Emphasis on circular economy to address climate crisis, inequality, poverty

FE ONLINE REPORT January 20, 2020 19:30:20

Adopting circular economic principles can address overall climate crisis, global inequality and alleviate poverty. Experts came up with the remark on Monday at a panel discussion titled 'Circular Eco...

Global FDI drops moderately in 2019: UNCTAD

FE Online Report January 20, 2020 18:59:06

Foreign Direct Investment (FDI) across the world dropped by 1.0 per cent last year, according to a primary estimation of the United Nations Conference on Trade and Development (UNCTAD). UNCTAD’...

Govt allows state-owned cos to deposit 50pc of funds in private banks

-- January 20, 2020 17:37:48

The government has allowed state-owned companies to deposit up to 50 per cent of their surplus funds in private banks and non-bank financial institutions. The finance ministry’s Financial Insti...

BIBM workshop on Outsourcing in Financial Service Sector Jan 21

FE Online Desk January 20, 2020 13:37:34

A Discussion Workshop on Outsourcing in Financial Service Sector (in association with BACCO & LICT) will be held at the auditorium of Bangladesh Institute of Bank Management on January 21. Mr. Zu...

World's richest 2,000 hold more than 4.6b combined: Oxfam

Reuters January 20, 2020 13:00:40

The world’s richest 2,153 people controlled more money than the poorest 4.6 billion combined in 2019, while unpaid or underpaid work by women and girls adds three times more to the global econom...

Bangladesh’s exports to India cross $1.0b in 2019

FE REPORT January 20, 2020 11:25:30

Bangladesh's exports to India crossed US $ 1.0 billion mark in the last calendar year (2019), said Gurvinder Singh, Director (exhibitions) of Engineering Export Promotion Council of India (EEPC Indi...

Govt's credit growth target raised for H2

FE Report January 20, 2020 10:00:36

Higher borrowing of the government during the first half (H1) of the current fiscal year (FY20) compelled the central bank to revise the growth rate of the borrowing significantly upward for the secon...

New ADB President Masatsugu Asakawa assumes office

FE Online Report January 19, 2020 14:24:27

Masatsugu Asakawa has assumed office as the 10th President of the Asian Development Bank (ADB), an ADB press statement said. "I am honoured to assume the role of ADB President and to begin working in...

FDI stuck in low gear

JUBAIR HASAN January 19, 2020 10:35:20

The declining trend in the net inflows of foreign direct investment, or FDI, in the country sustained until the third quarter of the immediate past calendar year, according to government data. The...

BD economy may grow by 7.80pc in FY20: UN

Asjadul Kibria January 18, 2020 17:35:15

Growth rate of the Gross Domestic Product (GDP) of Bangladesh may decline to 7.80 per cent in the current fiscal year (FY20) from 8.10 per cent in the previous fiscal year. Nevertheless, the projecte...

China-US trade deal to reduce global uncertainty: IMF chief

-- January 18, 2020 13:45:58

The newly signed China-US phase-one trade deal will reduce the uncertainty that has impeded global economic growth, International Monetary Fund (IMF) Managing Director Kristalina Georgieva said. He s...

Italian exports fall 4.2pc in November

-- January 18, 2020 12:59:00

Italian exports fell by 4.2 per cent in November 2019 compared to the previous month, and by 3.2 per cent compared to November of 2018, ISTAT national statistics agency has reported. The year-on-year...

BB underscores branding of local teas

FE Online Report January 18, 2020 12:13:35

The central bank of Bangladesh has underscored branding of local varieties of tea to access the global market. “Branding is a vital factor for marketing the product in the international market,...

Japanese 41st ODA fund use unsatisfactory

SYFUL ISLAM January 18, 2020 10:19:28

The fund disbursement for 31 projects under the 41st Official Development Assistance (ODA) programme in nine months was only 42 per cent of the target which Japanese officials termed as unsatisfactory...

Indian LoCs: Project deadlines see pushback

Mir Mostafizur Rahaman January 18, 2020 10:10:47

Dozens of projects for which the Indian government extended three credit lines over the past decade shows a dismal picture in project management, according to the latest review. According to the docu...

Unconventional non-bank debt up

JASIM UDDIN HAROON January 18, 2020 09:56:21

The government's non-bank borrowing from unconventional sources has been growing fast, driven by its needs to meet higher public spending. Apart of savings tools, non-bank instruments include provide...

Amazon promises to create 1.0m new jobs in India

-- January 17, 2020 13:59:31

Amazon.com Inc said on Friday it planned to create 1.0 million jobs in India by 2025. The announcement came a day after the country’s trade minister said the e-commerce giant’s recently u...

Dhaka, Delhi discuss joint study on proposed economic partnership deal

-- January 17, 2020 12:39:48

Bangladesh and India have discussed a number of issues of mutual interest including border haats and joint study for the proposed 'Comprehensive Economic Partnership Agreement' between the two countri...

'Non-execution of Delta Plan to shrink GDP'

FE Report January 17, 2020 10:21:01

The execution of a longer-term development blueprint will raise Bangladesh's annual economic growth by 1.5 percentage points, considering the impact of climate change. But if the government's Delta P...

FM seeks UAE declaration to recruit BD nationals in all sectors

UNB January 15, 2020 17:23:06

Bangladesh has urged the United Arab Emirates (UAE) to make an official declaration on opening of recruitment for Bangladesh nationals in all sectors in the UAE. Foreign Minister Dr AK Abdul Momen me...

BD on right track to attain SDGs: PM

-- January 15, 2020 12:10:35

Prime minister Sheikh Hasina has said Bangladesh is now on right track to attain the Sustainable Development Goals (SDGs) due to her government’s time-befitting initiatives. “We achieved...

Top bankers sceptical of 6.0pc deposit rate

FE REPORT January 15, 2020 10:02:21

The country's top bank executives evinced on Tuesday their grave concern over the 6.0 per cent interest rate on bank deposits as they believe such a poor rate will be "challenging" for mobilising fund...

Higher private sector credit flow to ensure more investment: DCCI

FE Online Report January 14, 2020 17:32:03

Increased private sector credit flow will ensure more investment and economic growth, said the newly elected Board of Directors of Dhaka Chamber of Commerce & Industry (DCCI) on Tuesday. They als...

US drops China currency manipulator label

REUTERS January 14, 2020 11:13:09

The US Treasury Department on Monday dropped its designation of China as a currency manipulator days before top officials of the world’s two largest economies were due to sign a preliminary trad...

WB unlikely to lift lending for BD

FHM HUMAYAN KABIR January 14, 2020 10:09:11

The World Bank, or WB, is likely to provide US$4.50 billion in loans to Bangladesh over the next three-years, officials said on Monday, the same level as the current portfolio. Although the total aid...

BB gets new director

FE Online Report January 13, 2020 14:44:14

The government has appointed Nazrul Huda, a former deputy governor of the central bank, as a member of Bangladesh Bank's Board of Directors.  With 35 years of central banking experience, Mr Huda...

Get policy right to develop non-apparel sectors

FE REPORT January 13, 2020 11:02:21

Leather and footwear, plastics and light engineering have been identified as the potential sectors, which can help diversify the country's export basket. The sectors will also create greater access t...

US imposes more sanctions on Iran

-- January 11, 2020 11:33:52

The United States has imposed more sanctions on Iran in retaliation for its missile attack on US forces in Iraq this week. The US on Friday also vowed to tighten the economic screws if Tehran continu...