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The Financial Express

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India to promote manufacturing of selected products to boost market share

India to promote manufacturing of selected products to boost market share

Reuters 2020-08-10 15:19:46

India’s government plans to promote the manufacturing of selected products, especially lines in which China enjoys a big share in the global market, as part of efforts to reduce imports and push...

Vietnam's wood, woodwork export up in seven months

Vietnam's wood, woodwork export up in seven months

-- 2020-08-10 13:35:00

Vietnam exported nearly 6.1 billion US dollars of wood and wood-based products in the first seven months of this year, up 6.2 per cent against the same period last year, according to the Vietnam Admin...

Call for bigger budget for health sector

Call for bigger budget for health sector

FE REPORT 2020-08-10 09:54:18

Experts on Sunday sought increased budget allocation for health sector, strict implementation of hygiene guidelines and adaptation with the changed lifestyle in the wake of virus pandemic. They highl...

New forex law: Investors may get timely services

New forex law: Investors may get timely services

FE REPORT 2020-08-10 09:34:19

The government is mulling over incorporating time-bound services into the proposed foreign exchange law to attract potential overseas investors, said officials at the financial institutions division....

63.0pc of private foreign debt short-term

63.0pc of private foreign debt short-term

FE Online Report 2020-08-09 21:13:21

Around 63.0 per cent of the foreign borrowing of the country’s private sector is short-term in nature, according to the statistics released by the central bank. It showed that the outstanding p...

BB asks banks to open deposit accounts for NRBs

BB asks banks to open deposit accounts for NRBs

FE ONLINE REPORT 2020-08-09 16:31:43

The central bank has asked scheduled banks to introduce deposit accounts for non-resident Bangladeshis (NRBs) to encourage these people, who are working aboard, in saving their hard-earned money in Ba...

BD seeks $2.5b as budget support, project aid from WB for FY'21

BD seeks $2.5b as budget support, project aid from WB for FY'21

FHM HUMAYAN KABIR 2020-08-09 10:11:46

Bangladesh has sought a fund of US$ 2.5 billion from the World Bank (WB) to finance 15 different projects and programmes in the current fiscal year (FY 2020-21), officials said on Saturday. "We hav...

'Banks fully capable of executing stimulus packages'

'Banks fully capable of executing stimulus packages'

SIDDIQUE ISLAM 2020-08-09 09:47:50

The banking sector is fully capable of implementing the government-declared financial stimulus packages despite its own pre-Covid-19 challenges, a top leader of the banking community has said. "Ban...

Govt relooks at labour market to tap potentials with skilled workers

Govt relooks at labour market to tap potentials with skilled workers

-- 2020-08-08 20:46:58

The government considers enhancing the skills of the country’s capable population and their productivity to fulfill the demand of the labour markets, both at home and abroad, aiming to face the...

Covid erodes country’s business confidence severely

Covid erodes country’s business confidence severely

FE Online Report 2020-08-08 19:20:31

The overall status of business in the country in the last quarter (April-June, 2020) of the fiscal year 2019-2020 (FY20) was extremely poor due to negative impact of deadly coronavirus. While all the...

Italy's foreign trade continues recovery in June

Italy's foreign trade continues recovery in June

-- 2020-08-08 13:55:50

Italy's foreign trade picked up in June compared to May, with imports rising by 16.1 per cent and exports by 14.4 per cent, the National Statistics Institute (ISTAT) has said in a report. The month-o...

BD gets $1.0b China loan to improve power grid

BD gets $1.0b China loan to improve power grid

MIR MOSTAFIZUR RAHAMAN 2020-08-08 09:38:31

Bangladesh has got confirmation of another US$970 million loan from China to be used for strengthening its electricity grid. This loan will be provided to the state-run Power grid Company of Banglade...

Govt to form special fund for Delta Plan 2100

Govt to form special fund for Delta Plan 2100

-- 2020-08-07 17:17:30

The government is going to form a special fund, 'Bangladesh Delta Fund', for implementing its long-term integrated master plan, ‘Delta Plan 2100’, to harness the huge potentials of Banglad...

Beirut explosions aggravate Lebanon's economic woes

Beirut explosions aggravate Lebanon's economic woes

-- 2020-08-07 12:39:56

The seismic blasts which rocked the Lebanese capital of Beirut have delivered another calamitous blow to a country already in the throes of an unprecedented economic crisis. Two huge explosions rocke...

RMG exports to major markets plunge in H1

RMG exports to major markets plunge in H1

MONIRA MUNNI 2020-08-07 09:37:20

The country's apparel exports to its major destinations, including the US, Germany, Italy and the UK, witnessed a drastic fall during the first half (H1) of current calendar year, mainly due to the on...

BCC suggests steps against anti-competitive activities

BCC suggests steps against anti-competitive activities

FE Report 2020-08-07 09:37:17

Bangladesh Competition Commission (BCC) has suggested taking steps against any possible anti-competitive activities for ensuring competitive allocation and spending of the government-announced stimu...

Govt’s bank borrowing more than doubles   

Govt’s bank borrowing more than doubles  

SIDDIQUE ISLAM 2020-08-07 09:31:35

The government's net borrowing through selling savings tools dropped by more than 71 per cent to Tk 144.28 billion in FY '20 from Tk 499.39 billion a year ago, according to official figures. A dras...

€150m AFD loan to support BD’s cash transfer programmes and Covid-19 response

€150m AFD loan to support BD’s cash transfer programmes and Covid-19 response

FE Online Desk 2020-08-06 13:55:04

The Executive Board of the French Development Agency (Agence Française de Développement - AFD) has recently approved a Concessional Loan of 150 million euro to support the People's Repub...

ADB grants Bangladesh $3.0m to fight pandemic

ADB grants Bangladesh $3.0m to fight pandemic

-- 2020-08-06 13:13:50

The Asian Development Bank (ADB) has approved an additional $3.0 million in grant assistance for procuring urgently needed medical supplies for emergency response to the coronavirus pandemic in Bangla...

Covid-19 fallout: Govt eyes huge borrowing over three fiscal years next

Covid-19 fallout: Govt eyes huge borrowing over three fiscal years next

UNB 2020-08-06 12:58:42

The government has planned to borrow Tk 5714.5 billion from various sources both at home and abroad over the next three fiscal years, including the running one, mainly to face the economic challenges...

Pandemic triggers big job losses in BD’s RMG sector: WTO

Pandemic triggers big job losses in BD’s RMG sector: WTO

FE ONLINE REPORT 2020-08-06 12:18:40

The Covid-19 pandemic has triggered huge job losses, especially for women, in the ready-made garment (RMG) sector in Bangladesh exposing the sector's sensitivities by destabilising global supply chain...

Philippines' Q2 GDP growth hits record low

Philippines' Q2 GDP growth hits record low

-- 2020-08-06 11:08:48

The GDP growth rate of the Philippines dropped by 16.5 per cent in the second quarter of 2020, the lowest recorded quarterly growth since 1981, bringing the country to a technical recession. In a vir...

BD emerges as 3rd largest apparel supplier to US

BD emerges as 3rd largest apparel supplier to US

MONIRA MUNNI 2020-08-06 09:29:27

Bangladesh has emerged as the third largest sourcing country for the US-based apparel and fashion companies in 2020, advancing from the last year's sixth position despite the Covid-19 pandemic, acco...

Japan provides $330m emergency budget support

Japan provides $330m emergency budget support

FE Online Report 2020-08-05 13:36:51

Japan will provide 330 million US dollar to Bangladesh as an Official Development Assistance (ODA) loan. In this regard Mr. ITO Naoki, Ambassador of Japan to Bangladesh, and Ms. Fatima Yasmin, Secret...

IMF forecasts modest narrowing in current account imbalances in 2020

IMF forecasts modest narrowing in current account imbalances in 2020

-- 2020-08-05 12:37:14

Global current account surpluses and deficits narrowed in 2019, and the Covid-19 pandemic could narrow the imbalances further in 2020, the International Monetary Fund (IMF) said in its annual External...

MPS  lacks direction and policy support on new job creation : BUILD

MPS lacks direction and policy support on new job creation : BUILD

FE Online Desk 2020-08-05 01:41:22

Business Initiative Leading Development (BUILD) has advocated for quarterly announcement of Monetary Policy Statement (MPS). "The MPS should be announced quarterly in a precise format as fiscal yea...

BD may seize opportunity as Japanese firms plan relocation: Japanese envoy

BD may seize opportunity as Japanese firms plan relocation: Japanese envoy

FE ONLINE DESK 2020-08-04 16:01:55

Bangladesh may grab the opportunity maintaining the business competiveness as some Japanese firms are intending to relocate their business and searching new destinations for supply chain adjustments,...

US manufacturing activity expands in July

US manufacturing activity expands in July

-- 2020-08-04 09:40:36

Economic activity in the US manufacturing sector expanded in July amid a resurgence in new Covid-19 infections, the Institute for Supply Management (ISM) reported Monday. The Purchasing Managers' Ind...

Inflow of remittances crosses $2.50b-mark in July

Inflow of remittances crosses $2.50b-mark in July

FE Online Report 2020-08-03 19:49:08

The inflow of remittances crossed US$ 2.50 billion-mark in July—before the celebration of Eid-ul-Azha -- highest ever the country received in a month, officials said. Remittances from Banglades...

India's central bank likely to cut rates despite inflation risk

India's central bank likely to cut rates despite inflation risk

REUTERS 2020-08-03 13:10:15

India’s worsening economic outlook as coronavirus cases soar has raised the chance the central bank will cut interest rates at its policy review on Thursday, in spite of inflationary pressures....