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Search results for: economy

Project to widen Cox's Bazar marine-drive gets ECNEC nod

Project to widen Cox's Bazar marine-drive gets ECNEC nod

-- 2022-06-28 17:02:58

The Executive Committee of the National Economic Council (ECNEC) has approved a project to widen Cox's Bazar marine-drive, involving Tk10.92 billion, aiming to developing tourism industry in the reg...

Monetary policy to battle inflation

Monetary policy to battle inflation

SIDDIQUE ISLAM 2022-06-28 08:12:51

Checking the wayward inflation without hampering the economic growth is the cornerstone in a new monetary policy the central bank is set to roll out, officials say. Outgoing Governor of the Banglades...

Country turns again to IMF after a decade

Country turns again to IMF after a decade

FHM HUMAYAN KABIR 2022-06-28 08:09:55

After the lapse of a decade, Bangladesh is likely to borrow funds from the International Monetary Fund (IMF) to narrow its budget deficit, seen as a bit high in current context. Ministry of Finance...

G7 nations debating price cap for Russian oil to curb Moscow's revenue

G7 nations debating price cap for Russian oil to curb Moscow's revenue

-- 2022-06-27 22:52:56

Group of Seven nations have engaged in a debate to put a global price cap for Russian oil that would curb Moscow's energy revenues and potentially limit its ability to fund its invasion of Ukraine, ac...

Milk production loan scheme extended to December 2024

Milk production loan scheme extended to December 2024

-- 2022-06-27 22:41:34

Bangladesh Bank (BB) has extended the loan repayment time to December 2024 for the milk production loans scheme. As a result, the farmers, who borrowed for cows and calves’ farms at a 4 per cen...

Padma Bridge rakes in nearly Tk 21m in tolls on opening day

Padma Bridge rakes in nearly Tk 21m in tolls on opening day

-- 2022-06-27 12:39:42

Authorities have collected nearly Tk 21 million in tolls as over 51,000 vehicles crossed the Padma Multipurpose Bridge on its first day of operation, bdnews24.com reports. After the bridge opened to...

Taiwan, United States to hold trade talks today

Taiwan, United States to hold trade talks today

-- 2022-06-27 10:20:21

Taiwan and the United States will hold trade talks on Monday under a newly agreed framework, the office of the US Trade Representative said. Deputy US Trade Representative Sarah Bianchi will meet the...

G7 aims to raise $600 billion to counter China's Belt and Road

G7 aims to raise $600 billion to counter China's Belt and Road

-- 2022-06-27 10:14:29

Group of Seven leaders on Sunday pledged to raise $600 billion in private and public funds over five years to finance needed infrastructure in developing countries and counter China's older, multitril...

New monetary policy to seek balance between credit flow and inflation

New monetary policy to seek balance between credit flow and inflation

FE ONLINE DESK 2022-06-27 09:37:40

Amid an eight-year high CPI in May and record devaluation of the currency, both policy hawks and doves at the Bangladesh Bank have their sight on the four key challenges in the upcoming fiscal year- a...

Bangladesh Bank injects $7.34b into forex market in 11 months

Bangladesh Bank injects $7.34b into forex market in 11 months

SIDDIQUE ISLAM 2022-06-27 08:11:46

The central bank has pumped over US$7.0 billion into the country's overheated foreign-exchange (forex) market in around 11 months to defend exchange rate of the local currency against the greenback....

Capacity payment goes up to Tk 265.05b in FY22: CPD

Capacity payment goes up to Tk 265.05b in FY22: CPD

-- 2022-06-26 18:58:08

The Centre for Policy Dialogue (CPD) on Sunday said that the capacity payment to private sector power plants, including rental and quick rental plants, has gone up to Tk 265.05 billion in FY22 from Tk...

Banks selling dollar at highest-ever Tk 99

Banks selling dollar at highest-ever Tk 99

-- 2022-06-26 18:55:52

Banks are selling US dollars for import payment at Tk 98 to 99, which is the highest exchange rate of dollars ever in the banking channel. Though the Bangladesh Bank (BB) is selling US dollars at Tk...

Hasina seeks more investment from Kuwait

Hasina seeks more investment from Kuwait

-- 2022-06-26 12:40:54

Prime Minister Sheikh Hasina on Sunday urged the Kuwait government to invest in Special Economic Zones of Bangladesh. She also urged the Middle Eastern country for recruiting more skilled and semi-sk...

Padma Bridge will add Tk 423.62 billion to GDP in a year: BBS

Padma Bridge will add Tk 423.62 billion to GDP in a year: BBS

-- 2022-06-25 21:58:01

Newly-inaugurated Padma Bridge will add Tk 423.62 billion to the gross domestic product (GDP) in one year, according to the Bangladesh Bureau of Statistics (BBS). The estimated amount is equal to1.2...

Nutrition interventions sought for boosting overall economy

Nutrition interventions sought for boosting overall economy

-- 2022-06-24 19:21:04

Nutrition interventions play a crucial role in empowering women, ensuring dietary diversity, building a climate-resilient food system, and boosting the overall economy, said experts at a seminar in th...

German minister warns of industry shutdown amid gas shortage

German minister warns of industry shutdown amid gas shortage

-- 2022-06-24 13:18:55

Germany is heading for a gas shortage if Russian gas supplies remain as low as they are now, and certain industries would have to be shut down if there is not enough come winter, Economy Minister Robe...

'Tame inflation, cut trade deficit'

'Tame inflation, cut trade deficit'

FE REPORT 2022-06-24 09:03:33

Leading economist Dr Ahsan H Mansur has suggested focusing more on taming inflation, reducing trade deficit by adopting contractionary import policy, instead of chasing ambitious GDP-growth target i...

MCCI proposes budget revisions, tax-ceiling raise

MCCI proposes budget revisions, tax-ceiling raise

FE REPORT 2022-06-24 08:46:52

A premier trade chamber Thursday urged the government to amend some provisions in the new budget, including raising the tax-free income limit because of high inflation. The Metropolitan Chamber of...

Bangladesh bags record foreign aid in outgoing FY

Bangladesh bags record foreign aid in outgoing FY

FHM HUMAYAN KABIR 2022-06-24 08:39:14

Bangladesh received a record amount of US$8.42 billion in foreign aid in 11 months of the current fiscal year, 47-percent higher over the previous corresponding period, despite global currency crunc...

Padma-Plus plan mooted to maximise bridge benefit

Padma-Plus plan mooted to maximise bridge benefit

FE REPORT 2022-06-24 08:25:36

Economists and experts suggest that the government should formulate an integrated Padma-Plus plan to maximise multiple benefits of the Padma Multipurpose Bridge (PMB), set for opening tomorrow. At a...

Bangladesh receives record $8.41b foreign loans in 11 months of FY22

Bangladesh receives record $8.41b foreign loans in 11 months of FY22

-- 2022-06-23 18:04:53

Bangladesh received a record US$8.41 billion in foreign loans in 11 months of the current FY22, the Economic Relations Division said on Thursday. At the current exchange rate, the amount is equivalen...

EU to help Bangladesh in improving capacity, safety at Ctg port

EU to help Bangladesh in improving capacity, safety at Ctg port

-- 2022-06-23 18:01:41

Bangladesh and the European Union (EU) have agreed to accelerate the removal of idle containers from the Chittagong Port premises in order to increase cargo-handling capacities and improve health and...

FY23 Budget: Call to reconsider tax withdrawal from plastic bags, impose higher tax

FY23 Budget: Call to reconsider tax withdrawal from plastic bags, impose higher tax

FE ONLINE REPORT 2022-06-23 17:42:44

Environment rights organisations on Thursday urged the government to reconsider the proposed tax withdrawal on all types of polythene bags and impose a higher tax on single-use plastic products. The...

India willing to support crisis-laden Sri Lanka's economic recovery

India willing to support crisis-laden Sri Lanka's economic recovery

-- 2022-06-23 17:10:47

India's top diplomat held talks with Sri Lanka's president and prime minister on Thursday as India signalled its willingness to go beyond the $4 billion in loans, swaps and aid that it has already pro...

ADB may lend $2.3b under development recipe

ADB may lend $2.3b under development recipe

SYFUL ISLAM 2022-06-23 08:33:12

The Asian Development Bank (ADB) may pledge to lend Bangladesh US$2.3 billion during 2023-2025 under an overall development recipe, at a time when the country launches a search for foreign-exchange...

Amount of defaulted loans crosses Tk 1.26 trillion, says finance minister

Amount of defaulted loans crosses Tk 1.26 trillion, says finance minister

-- 2022-06-22 22:58:24

Finance Minister AHM Mustafa Kamal on Wednesday said the amount of defaulted loans in the country has crossed Tk 1.26 trillion. Apart from this, another Tk 210.46 billion is stuck due to the order of...

‘Consumer behaviour to remain unpredictable globally for near future’

‘Consumer behaviour to remain unpredictable globally for near future’

-- 2022-06-22 22:03:03

Global retailers and consumer goods makers remain in crisis mode and expect consumer behaviour to remain unpredictable for the foreseeable future, top industry executives told a conference in Dublin t...

Monetary policy for FY23 to be unveiled on June 30

Monetary policy for FY23 to be unveiled on June 30

-- 2022-06-22 21:08:53

Bangladesh Bank (BB) will announce the monetary policy for the new fiscal year (2022-23) on June 30. Central bank’s governor Fazle Kabir will announce the monetary policy through a press confer...

Number of millionaires increases in January-March period: Bangladesh Bank

Number of millionaires increases in January-March period: Bangladesh Bank

-- 2022-06-22 20:29:37

Bangladesh has seen an increase in the number of millionaires in January to March period of 2022 despite the inflation threat fuelled by the Russia-Ukraine war and Covid-19 pandemic, according to Bang...

WPPF provisions to be detrimental to compliant taxpayers: FICCI

WPPF provisions to be detrimental to compliant taxpayers: FICCI

-- 2022-06-22 18:31:51

The Foreign Investor’s Chamber of Commerce and Industry (FICCI) has expressed some concerns about the proposed national budget for the fiscal year 2022-23 along with its probable implication for...