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Search results for: economy

India cuts windfall tax on crude oil output, diesel exports

India cuts windfall tax on crude oil output, diesel exports

-- 2022-10-02 12:38:28

The Indian government has cut a windfall tax on domestically produced crude oil to 8,000 rupees per tonne from 10,500 rupees per tonne from Sunday, after a decline in global oil prices, reports Reuter...

Apparel exports to EU witness 45pc growth

Apparel exports to EU witness 45pc growth

-- 2022-10-01 21:37:43

The export of RMG items to the European Union (EU) has witnessed a robust growth of 45 per cent during the January-June period of this year compared to the same period last year.  According to d...

US consumers spurn cars, couches and cruises, results show

US consumers spurn cars, couches and cruises, results show

-- 2022-10-01 15:30:28

US consumers are exhibiting fragility ahead of the peak period for corporate results next month, as some are struggling to pay bills and others are slowing purchases of cars, sneaker...

Fitch finds BD's financial front fairly stable

Fitch finds BD's financial front fairly stable

JASIM UDDIN HAROON 2022-10-01 08:53:41

Global rating agency Fitch finds Bangladesh's financial front fairly stable largely for thrift measures and export rise, though some downside risks loom from global price rises and domestic economic s...

ADB to support coral reefs ecosystem in four Asia-Pacific countries 

ADB to support coral reefs ecosystem in four Asia-Pacific countries 

-- 2022-09-30 19:17:11

The Asian Development Bank (ADB) said Friday that it has approved a financial project to support restoration, conservation and management of coral reefs in four countries in Southeast Asia and the Pac...

Sri Lanka's inflation rises to 69.8pc in Sept 

Sri Lanka's inflation rises to 69.8pc in Sept 

-- 2022-09-30 18:54:27

Sri Lanka's inflation, as measured by the year-on-year change in the Colombo Consumer Price Index, rose to 69.8 per cent in September 2022 from 64.3 per cent a month earlier, the Department of Census...

‘Indonesia keen to strengthen relations with Bangladesh’ 

‘Indonesia keen to strengthen relations with Bangladesh’ 

-- 2022-09-30 17:51:50

The Embassy of the Republic of Indonesia in Dhaka celebrated its 77th Independence Day on Thursday evening demonstrating an enhanced partnership between Bangladesh and Indonesia.   Indonesian Am...

Fitch sees strong growth prospects for Bangladesh, stabilising forex reserves

Fitch sees strong growth prospects for Bangladesh, stabilising forex reserves

-- 2022-09-30 13:55:12

Despite the global economic headwinds and growing inflationary pressures at home, Bangladesh maintains strong growth prospects and a manageable external debt repayment profile, according t...

India's key policy rate raised by 50 bps

India's key policy rate raised by 50 bps

-- 2022-09-30 11:59:55

The Reserve Bank of India's benchmark repo rate was raised by 50 basis points on Friday, the fourth straight increase in the current cycle, as policymakers extended their battle to tame sustained abov...

Loan gets costlier as BB raises policy rate

Loan gets costlier as BB raises policy rate

FE REPORT 2022-09-30 08:13:06

Borrowing funds gets costlier as the central bank raises the benchmark interest rate to 5.75 per cent to control spiraling consumer prices pushed by raging inflation. Bangladesh Bank (BB) raised th...

German inflation hits highest level in over 25 years

German inflation hits highest level in over 25 years

-- 2022-09-29 21:29:29

German inflation was at its highest level in more than a quarter of a century in September, driven by higher energy prices no longer dampened by popular relief measures, data showed on Thursday, repor...

Bangladesh needs a strong reform agenda to sustain its growth trajectory: World Bank

Bangladesh needs a strong reform agenda to sustain its growth trajectory: World Bank

-- 2022-09-29 19:58:20

Bangladesh has made remarkable economic and development progress in the past five decades and now the country needs a strong reform agenda to sustain its growth trajectory and further accelerate the g...

Bangladesh Bank raises repo rate by 25 basis points to 5.75pc

Bangladesh Bank raises repo rate by 25 basis points to 5.75pc

-- 2022-09-29 18:22:09

In a surprise move, Bangladesh Bank has raised its key interest rate, or repurchase agreement rate, by 25 basis points to 5.75 per cent as part of its efforts to control consumer prices. The decision...

Dhaka invites Delhi to start CEPA talks

Dhaka invites Delhi to start CEPA talks

SYFUL ISLAM 2022-09-29 09:01:17

Bangladesh has requested India to start negotiations on materialising the much-talked-about Comprehensive Economic Partnership Agreement (CEPA) soon, as instructed by the premiers of the two neighbo...

Huge revenues missed for mobilisation incapacity

Huge revenues missed for mobilisation incapacity

 DOULOT AKTER MALA 2022-09-29 08:32:00

Bangladesh invests the lowest among South Asian countries in domestic revenue mobilisation and thus misses out on potential multiple returns in public funds, studies related to budget deficits show....

Currency, BoP odds affecting economy

Currency, BoP odds affecting economy

JASIM UDDIN HAROON 2022-09-29 08:02:30

Global supply-chain disruptions and price hikes amid aggressive policy-rate raise by the US Fed are creating serious global uncertainties affecting Bangladesh's economy, too, says the central bank....

Bangladesh Bank sets cost ceiling for short-term trade finance in forex 

Bangladesh Bank sets cost ceiling for short-term trade finance in forex 

-- 2022-09-28 18:03:21

Bangladesh Bank (BB) has set the all-in-cost ceiling for short-term permissible trade finance in foreign exchange.  "Given the global market trends, it has been decided to set all-in-cost ceilin...

Private foreign borrowings fall, investment slows

Private foreign borrowings fall, investment slows

JASIM UDDIN HAROON 2022-09-28 08:22:22

Private-sector foreign borrowings are falling which entrepreneurs interpret as indicator of slower investment in the economy for pandemic-induced poor demand and higher cost of funds on the other hand...

Aug credit flow into private sector rises further

Aug credit flow into private sector rises further

FE ONLINE REPORT   2022-09-27 22:36:02

Credit flow into Bangladesh's private sector increased further in August following rising demand for loans, particularly for trade financing, to settle import payment obligations.  Loans under l...

Inflation, unrest challenge Bangladesh’s ‘miracle economy’: AP report

Inflation, unrest challenge Bangladesh’s ‘miracle economy’: AP report

ASSOCIATED PRESS 2022-09-27 20:30:00

Standing in line to try to buy food, Rekha Begum is distraught. Like many others in Bangladesh, she is struggling to find affordable daily essentials like rice, lentils and onions. “I went to t...

GSP plus in EU market key to Bangladesh’s future economic growth

GSP plus in EU market key to Bangladesh’s future economic growth

-- 2022-09-27 20:27:48

Ambassador and Head of Delegation of the European Union (EU) to Bangladesh Charles Whiteley on Tuesday said preparing for quick access to GSP Plus in the EU market is the next big factor for Banglades...

‘Bangladesh likely to get $12.0b to $15.0b loan support from ADB over next five years’

‘Bangladesh likely to get $12.0b to $15.0b loan support from ADB over next five years’

-- 2022-09-27 19:57:35

Bangladesh expects to get $12.0 billion to $ 15.0 billion loan support from the Asian Development Bank under its Country Partnership Strategy (CPS) (2021-2025), according to Finance Minister AHM Musta...

Bangladesh must be ready to welcome American businesses, says US envoy 

Bangladesh must be ready to welcome American businesses, says US envoy 

-- 2022-09-27 19:12:39

US Ambassador to Bangladesh Peter Haas has said a smart company considering doing business overseas will certainly want “certainty and security” as political violence and electoral instabi...

Controlling exchange rate will impact remittance flow, say experts

Controlling exchange rate will impact remittance flow, say experts

-- 2022-09-27 19:11:33

Expatriates will get a maximum of Tk 107.5 per US dollar instead of previously fixed Tk 108 for remittances from October 1 (Saturday). The move by Association of Bankers, Bangladesh (ABB) and Banglad...

Philippine economy to grow more slowly than previously thought in 2022, IMF says

Philippine economy to grow more slowly than previously thought in 2022, IMF says

-- 2022-09-27 18:54:36

The Philippine economy will grow more slowly this year than previously thought due to the global economic slowdown and tightening financial conditions, the International Monetary Fund (IMF) said on Mo...

World Bank forecasts Thai GDP growth at 3.1pc this year

World Bank forecasts Thai GDP growth at 3.1pc this year

-- 2022-09-27 18:48:12

Thailand's economy is expected to grow 3.1 per cent this year, higher than a forecast in June of 2.9 per cent, supported by private consumption and exports, the World Bank said on Tuesday. However, t...

Govt plans to entrust ADC in every district to promote tourism 

Govt plans to entrust ADC in every district to promote tourism 

-- 2022-09-27 18:15:08

State Minister for civil aviation and tourism M Mahbub Ali has said the government would entrust one additional deputy commissioner (ADC) in every district with the task of promoting and coordinating...

South Korean envoy for strengthening infrastructure partnership  

South Korean envoy for strengthening infrastructure partnership  

-- 2022-09-27 17:41:58

South Korean Ambassador to Bangladesh Lee Jang-keun has stressed the importance of infrastructure cooperation in developing close bilateral ties between the two countries.  Bangladesh and South...

ADB plans $14b to ease food crisis in Asia-Pacific region

ADB plans $14b to ease food crisis in Asia-Pacific region

FE ONLINE REPORT 2022-09-27 14:35:43

The Asian Development Bank (ADB) announced plans to provide at least $14 billion over 2022–2025 in a comprehensive programme of support to ease a worsening food crisis in Asia and the Pacific....

Sri Lanka looks to revive free trade deal with Singapore

Sri Lanka looks to revive free trade deal with Singapore

-- 2022-09-27 14:12:33

Sri Lanka will step up efforts to revive a stalled free trade pact with Singapore, President Ranil Wickremesinghe told the city state’s premier on Tuesday, his office said in a statement. The l...