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The Financial Express

Search results for: economy

Initiative to foster growth of Bangladesh’s impact ecosystem launched

FE Online Desk March 21, 2020 12:47:55

An initiative to increase impact investment in the country’s social business as well as environmental sectors has been launched. Three organizations jointly launched the programme titled &lsquo...

Indo-Bangla economic partnership: Terms ready to launch jt study on advanced FTA

SYFUL ISLAM March 21, 2020 10:12:07

Bangladesh and India are set to start a joint study on the signing of an advanced free trade area deal under the banner of comprehensive economic partnership agreement, or CEPA, said officials. The t...

Virus response: Govt seeks $100m from WB

FHM HUMAYAN KABIR March 21, 2020 09:46:11

The government sent a project concept paper to the World Bank (WB) last week, seeking fund for facilitating surveillance, investigation and rapid response system to stop spreading Coronavirus outbreak...

Global recession a near certainty owing to COVID19, UN predicts

-- March 20, 2020 17:20:14

A global recession – perhaps of record dimensions – is a near certainty due to the COVID19 pandemic, said UN Secretary-General Antonio Guterres. “Our economic response must focus on...

Trump cancels G7 at Camp David over coronavirus

REUTERS March 20, 2020 12:29:40

President Donald Trump will cancel an in-person meeting of G7 leaders at Camp David in June because of the coronavirus and will hold a video-conference instead, the White House said on Thursday. The...

NBR to examine ongoing projects' progress Sunday

DOULOT AKTER MALA March 20, 2020 11:48:27

The National Board of Revenue (NBR) is going to scrutinise progress of some 25 ongoing projects of its customs, VAT and income tax wings to indentify bottlenecks in their implementation. The NBR C...

ADP chopped by Tk 98b

FE REPORT March 20, 2020 11:12:23

The government on Thursday endorsed a Tk 1.93 trillion development programme slashing allocations by Tk 98 billion from the original outlay due mainly to the poor implementation by public agencies. P...

Pandemic fallout: BB unveils package to benefit businesses

SIDDIQUE ISLAM March 20, 2020 09:49:20

The central bank has unveiled a stimulus package to help businesses ride out the storm of the pandemic, officials said. Under the package, businessmen will get a string of benefits, including easin...

BB to announce bailout programme for foreign trade

FE Online Report March 19, 2020 16:40:24

The central bank of Bangladesh is going to announce a bailout programme soon aiming to facilitate the country’s foreign trade that faces a setback following the coronavirus outbreak. Under the...

BB asks banks to suspend loan classification till June

FE Online Report March 19, 2020 15:58:41

The central bank of Bangladesh has relaxed its policy asking the scheduled banks to suspend adverse classification of any loans till June 30 to facilitate business activities that have been adversely...

25m jobs could be lost worldwide due to pandemic: ILO

FE Online Report March 19, 2020 12:39:08

The economic and labour crisis created by the COVID-19 pandemic could increase global unemployment by almost 25 million, a new assessment by the International Labour Organization (ILO) said on Thursda...

NEC set to finalise Tk 1.93t RADP

FHM Humayan Kabir March 18, 2020 10:51:45

The government is going to revise the Annual Development Programme (ADP), trimming down the allocations by Tk 102 billion to Tk 1.93 trillion, officials said on Tuesday. Cutting the highest amount fr...

'BERC working to fix tariff of LPG'

-- March 16, 2020 20:54:49

State Minister for Power, Energy and Mineral Resources Nasrul Hamid has said that Bangladesh Energy Regulatory Commission (BERC) is working to fix the tariff of liquid petroleum gas (LPG). The state...

Global central banks take sweeping action to fight coronavirus

REUTERS March 16, 2020 14:15:14

The US Federal Reserve and its global counterparts moved aggressively with sweeping emergency rate cuts and offers of cheap dollars in a bid to combat the coronavirus pandemic that has roiled markets...

Combating virus: ERD seeks project proposals to get fund from WB

SYFUL ISLAM March 16, 2020 10:38:55

The Economic Relations Division (ERD) has requested the health ministry to immediately send project proposals to get fund launched by the World Bank to prevent coronavirus (COVID-19). On March 03, th...

Budget deficit swells in five months

JASIM UDDIN HAROON March 15, 2020 10:21:03

The country's budget deficit reached Tk 359 billion in the first five months to November, a 37 per cent jump over the same period last fiscal, the ministry of finance data show. During the period, to...

NBR to enroll 0.15m new VAT payers in Mujib Year

-- March 14, 2020 20:00:58

National Board of Revenue (NBR) has set a target to register 0.15 million new VAT payers to raise the tally to 0.3 million in Mujib Year, reports BSS. To this end, NBR already directed its 12 VAT Com...

US House passes coronavirus aid bill

-- March 14, 2020 15:06:14

The US House of Representatives overwhelmingly passed a coronavirus aid package early on Saturday that would provide free testing and paid sick leave, in a bid to limit the economic damage from a pand...

Agreement on SASEC Dhaka-Northwest Corridor Road Sunday

FE Online Desk March 14, 2020 13:15:34

An agreement signing ceremony for the Second SASEC Dhaka-Northwest Corridor Road Project (Tranche 2) will be held on Sunday in Dhaka.  Ms. Fatima Yasmin, Secretary, Economic Relations Division (...

Coronavirus outbreak puts 50m travel, tourism jobs at risk

-- March 13, 2020 17:13:48

The coronavirus epidemic is putting up to 50 million jobs in the global travel and tourism sector at risk, with international travel likely to slump by a quarter this year, the World Travel and Touris...

Indonesian govt allocates $8b to stimulate economy

-- March 13, 2020 16:08:09

Indonesia announced a 120 trillion rupiah ($8.1 billion) stimulus package on Friday to support Southeast Asia’s biggest economy as the spread of the coronavirus disrupts global activity. The st...

BB upbeat on robust growth

FE REPORT March 13, 2020 10:24:15

Bangladesh Bank expects the economic growth to be buoyant during the current fiscal year, which will be in line with the budget target of 8.20 per cent. While the central bank is hopeful about keepin...

Yet one more player in non-bank FI sector

SIDDIQUE ISLAM March 13, 2020 10:08:50

Bangladesh Bank gave its final approval to one more non-banking financial institution on Thursday in a decision that raised eyebrows among analysts. The central bank asked Strategic Finance and Inves...

Chances of financial crisis not high: Taiwan c bank

-- March 12, 2020 15:05:12

The chances of a financial crisis are not high, Taiwan central bank governor Yang Chin-long told parliament on Thursday, reports Reuters. If the coronavirus continues to spread into the third quart...

Australia announces $11.4b economic stimulus plan to counter virus impact

-- March 12, 2020 15:00:50

Australia announced an A$17.63 billion ($11.41 billion) economic stimulus plan on Thursday that includes wage subsidies and cash payments for small businesses, to counter the impact of the coronavirus...

ADB headquarters closed after coronavirus scare

-- March 12, 2020 13:52:27

The Asian Development Bank (ADB) closed its headquarters and the Philippines senate went into lockdown on Thursday, after visitors to both buildings in Manila tested positive for the coronavirus. Phi...

Access to finance, graft remain key barriers: IFC

FE REPORT March 12, 2020 10:23:38

Access to finance, corruption and political instability are three major barriers the private sector faces in Bangladesh, according to a study. The private sector arm of the World Bank on Wednesday pu...

Import orders drop by 12pc in January

Siddique Islam March 12, 2020 10:14:01

Bangladesh's import orders dropped by more than 12 per cent or nearly US$663 million in January last due to supply chain disruption caused by the coronavirus outbreak in China. Opening of letters of...

Postal savings interest returns to previous rates by March 17

FE ONLINE REPORT March 11, 2020 21:32:53

The interest of post office savings schemes will return to its previous rates by March 17. Finance Minister AHM Mustafa Kamal gave the information after inaugurating automation of postal savings sche...

BoE cuts main interest rate to 0.25pc

-- March 11, 2020 16:03:59

The Bank of England (BoE), the central bank of the country, on Wednesday cut its main interest rate from 0.75 per cent to 0.25 per cent as part of a package of measures to cushion the impact of COVID-...