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The Financial Express

Search results for: economy

Saudis, UAE roll out VAT for first time

Saudis, UAE roll out VAT for first time

BBC 2018-01-01 12:00:00

Value Added Tax (VAT) has been introduced in Saudi Arabia and the United Arab Emirates for the first time. The 5.0 per cent levy is being applied to the majority of goods and services. Gulf states h...

Overseas employment sees new record in 2017

Overseas employment sees new record in 2017

-- 2018-01-01 12:00:00

Bangladesh sent a record over1.0 million workers abroad with jobs in 2017, highest in the history of overseas employment sector. Earlier the highest number was 875,055 in 2008. The country started s...

Maybe a bellwether of better day

Maybe a bellwether of better day

Jasim Uddin Haroon 2018-01-01 10:41:35

People in Bangladesh hope the year 2018 appears today (Monday) as the bellwether of changes for the better despite risks ahead and uncertainties, especially in the banking sector, in the background....

Prevailing irregularities in banking sector harming economy: FBCCI

Prevailing irregularities in banking sector harming economy: FBCCI

-- 2018-01-01 07:02:16

Irregularities in banking sector’s credit management will continue to keep the overall economy under pressure this year. Federation of Bangladesh Chambers of Commerce and Industry’s (FBCC...

Foreign aid to Nepal rises to 30pc

Foreign aid to Nepal rises to 30pc

-- 2018-01-01 02:43:11

Foreign aid to Nepal have seen rose to 30 per cent fiscal year 2016-17. Himalayan country saw 30 per cent rise in disbursement of Official Development Assistance (ODA) received from multilateral and...

2017 sees blots and blips on financial front

2017 sees blots and blips on financial front

FE Report 2017-12-31 12:00:00

The Gregorian calendar sheds 2017 today (Sunday) into the archives of time, leaving socioeconomic, political and cultural landscapes of Bangladesh, as also of the world, marked by some important event...

Growth in Chinese factories slows in December

Growth in Chinese factories slows in December

Reuters 2017-12-31 11:02:15

Growth in China’s manufacturing sector slowed slightly in December as a punishing crackdown on air pollution and a cooling property market start to weigh on the world’s second-largest econ...

NRB Conclave: Thrust on enabling policy to attract investment

NRB Conclave: Thrust on enabling policy to attract investment

-- 2017-12-31 10:50:19

Referring to the non-resident Bangladeshis' (NRBs) contribution to the country's economy, speakers at a programme on Saturday said NRBs will return to the country with knowledge and investment if cong...

Central bank eases EDF financing process

Central bank eases EDF financing process

-- 2017-12-31 09:49:48

The central bank has eased the process of the Export Development Fund (EDF) to facilitate access to financing in foreign exchange for input procurements by manufacturer-exporters. A Bangladesh Bank (...

Muhith says no new tax, no banking risk in 2018

Muhith says no new tax, no banking risk in 2018

FE Online Desk 2017-12-31 09:13:34

The Finance Minister has said that there will neither be any new tax imposed, nor will be any risk in the country’s banking sector in the year 2018. He also expected a peaceful and stable year...

Singapore’s economy sees 3.5pc growth

Singapore’s economy sees 3.5pc growth

-- 2017-12-31 07:22:00

Singapore’s economy grew 3.5 per cent in 2017 on the back of improved productivity as well as a pick-up in the global economy. Trade-reliant economy in the country has enjoyed a boost this year...

SME loan payout up by 21.60pc in nine months

SME loan payout up by 21.60pc in nine months

-- 2017-12-31 06:10:53

The credit disbursement for the small and medium enterprises (SMEs) increased by 21.60 per cent in the first nine months of 2017 compared to the corresponding period of the last year, according to the...

Qatar economy recovers from boycott, GDP figures show

Qatar economy recovers from boycott, GDP figures show

Reuters 2017-12-30 12:49:59

Qatar’s economy has largely recovered from a boycott imposed by other Arab states and is again growing at one of the fastest rates in the region, according to figures released by the statistics...

Banks scramble for rescheduling loans to avert NPL buildup

Banks scramble for rescheduling loans to avert NPL buildup

Siddique Islam 2017-12-30 12:00:00

Banks got into a last-minute race seeking permission from the central bank to allow rescheduling loans under special considerations to help avert further buildup of their classified loans, as the year...

Some economic indicators present poor show in 2017

Some economic indicators present poor show in 2017

Jasim Uddin Haroon 2017-12-30 09:47:03

Some major economic-financial indicators performed well below par in the outgoing calendar year, casting their adverse impacts on Bangladesh's economic health, experts said. The underperformances are...

NRB Conclave begins

NRB Conclave begins

FE Online Desk 2017-12-30 01:11:14

The first ever NRB Conclave, organised by Bangladesh Brand Forum (BBF) began today (Saturday) at a city hotel. "This initiative explores models and approaches to engage the Non Resident Bangladeshi...

China cbank to raise reserve funds ratio

China cbank to raise reserve funds ratio

-- 2017-12-30 01:02:34

China’s central bank has decided to raise the reserve funds ratio of third-party payment firms to 50 per cent by April 2018 from a current rate of 20 per cent, official said. The central of the...

Remittances set to drop in 2017

Remittances set to drop in 2017

FE Report 2017-12-29 12:00:00

Despite a significant rise in the country's outbound jobs, the growth of remittances is set to decline in the outgoing year 2017, said a RMMRU report on Thursday. Refugee and Migratory Movements Rese...

Open A/Cs with OPGSPs  having pact with BD banks

Open A/Cs with OPGSPs having pact with BD banks

FE Report 2017-12-29 12:00:00

The central bank has advised service exporters to open notional accounts only with the Online Payment Gateway Service Providers (OPGSPs) having arrangement with banks in Bangladesh. "We've revised th...

China-Bangladesh friendship continues to expand

China-Bangladesh friendship continues to expand

FE Online Desk 2017-12-29 12:00:00

The year of 2017, designated as the Year of Friendship and Exchanges between China and Bangladesh, saw the friendly ties between the two nations. The both sides pushed forward cooperation based on mu...

Safety, compliance lead RMG sector

Safety, compliance lead RMG sector

FE Online Desk 2017-12-29 12:00:00

Bangladesh decided to amend its labour law and the Bangladesh Export Processing Zones Authority Law to comply with the European Union (EU) recommendations.  The EU had earlier called on Banglade...

Digital currency is Ponzi scheme, India cautions

Digital currency is Ponzi scheme, India cautions

-- 2017-12-29 12:00:00

India’s finance ministry on Friday cautioned investors about the risks of trading in cryptocurrencies such as Bitcoin, saying digital currency investments are like “Ponzi schemes.”...

Businesses get until March 31 for 9-digit e-BIN

Businesses get until March 31 for 9-digit e-BIN

FE Report 2017-12-29 10:10:39

The revenue authority has extended the deadline for obtaining nine-digit electronic Business Identification Number (e-BIN) until March 31, 2018 for the businesses, having 11-digit BINs. Validity of...

S Korea finalises energy plan

S Korea finalises energy plan

-- 2017-12-29 03:39:50

South Korean government has finalised a power supply plan that aims to make renewables the country’s fuel of choice for power generation for the next 15 years, its energy ministry said on Friday...

Most multinationals dodge TP law, deprive govt of due taxes

Most multinationals dodge TP law, deprive govt of due taxes

Doulot Akter Mala 2017-12-28 12:00:00

Around 85 per cent of the foreign companies operating in Bangladesh and executing international transactions hardly share their incomes with the host nation, thus allegedly contributing vastly to capi...

BD economic growth may slow to 6.9pc in FY18

BD economic growth may slow to 6.9pc in FY18

FE Report 2017-12-28 12:00:00

Bangladesh economy may grow at a slower pace of 6.9 per cent this fiscal year after a record growth of 7.28 per cent in the last fiscal, a global financial giant forecasts. The latest reckoning on th...

0.81pc fall in remittance, 34.15pc rise in overseas employment

0.81pc fall in remittance, 34.15pc rise in overseas employment

FE Online Report 2017-12-28 12:00:00

The country’s remittance earning is expected to witness 0.81 per cent decline at the end of December this year, according to a report. But it predicted that the overseas employment might see 34...

Japan’s industrial output rises to 0.6pc in Nov

Japan’s industrial output rises to 0.6pc in Nov

-- 2017-12-28 10:53:54

Japan’s industrial production rose 0.60 percent in November from a month earlier, trade ministry data showed on Thursday. The industrial output rises more than expected as robust overseas dema...

ADP size sees 438pc rise in nine years

ADP size sees 438pc rise in nine years

FE Online Desk 2017-12-28 08:34:18

The size and expenditure of the annual development programme (ADP) has marked a significant increase over the past few years. In the current fiscal year (FY) 18, the ADP has witnessed a 438 per cent...

Income tax collection sees 15.60 pc growth

Income tax collection sees 15.60 pc growth

FE Online Desk 2017-12-28 08:32:27

Income tax collection witnessed a robust growth of 15.60 percent during the July-November period of the current fiscal year (FY18). The income tax collection during the five-month period (July-Novemb...