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Search results for: economy

Current account deficit crosses $6.0b in July-Feb

Current account deficit crosses $6.0b in July-Feb

FE Online Report 2018-04-13 20:38:39

Country’s current account deficit crosses $6.0 billion in the first eight months of the current fiscal year (FY18). Latest statistics, released by Bangladesh Bank, showed that current account d...

Peru's central bank holds interest rate

Peru's central bank holds interest rate

-- 2018-04-13 15:24:01

The Central Reserve Bank of Peru (CRBP), the central bank of the South American country, held the benchmark interest rate at 2.75 percent as expected on Thursday, reports Reuters. A majority of ana...

Microcredit fails in cutting poverty, says Muhith

Microcredit fails in cutting poverty, says Muhith

FE Report 2018-04-13 10:38:14

Microcredit has failed to play any effective role in alleviating poverty from the society, said Finance Minister AMA Muhith on Thursday. But there is no denial of the fact that microcredit programme...

Forex reserve rises to $32.97b

Forex reserve rises to $32.97b

Siddique Islam 2018-04-13 10:20:36

Bangladesh Bank (BB) has included the asset, lying with International Monetary Fund (IMF) in the form of its currency-SDR (special drawing rights), in the country's foreign exchange reserve calculatio...

Government not to take new initiatives in election year

Government not to take new initiatives in election year

FE Online Report 2018-04-12 20:08:11

The government is unlikely to take any new initiative in the upcoming budget as it is election year, said Finance Minister AMA Muhith on Thursday. “It is not possible to take new initiatives in...

Bring online platforms under tax net for BD ads: HC

Bring online platforms under tax net for BD ads: HC

-- 2018-04-12 20:04:43

The High Court has ordered authorities concerned to collect tax from the revenues earned by international online platforms through Bangladeshi advertisements. The court mentioned search engines Googl...

BOK forecasts 3pc GDP growth in 2018

BOK forecasts 3pc GDP growth in 2018

-- 2018-04-12 15:50:01

The Bank of Korea (BOK), the central bank of South Korea, has forecasted 3.0 per cent economic growth for the country. The BOK on Thursday forecasted that the country's gross domestic product (GDP)...

PM opens Bheramara 410-MW Power Plant

PM opens Bheramara 410-MW Power Plant

-- 2018-04-12 15:26:09

Prime Minister Sheikh Hasina on Thursday opened Bheramara 410-MW Combined Cycle Power Plant and cent per cent electrification in 15 upazilas renewing her call to the people to be economical in using e...

Development project execution rate at a standstill for years

Development project execution rate at a standstill for years

FHM Humayan Kabir 2018-04-12 09:49:26

The government's development project implementation capacity has not improved over the years, as the budget spending rate of its agencies is almost stagnant compared to the previous years, analysts sa...

NBR mulls raising revenue flow by cutting corporate tax

NBR mulls raising revenue flow by cutting corporate tax

FE Report 2018-04-12 09:33:45

The National Board of Revenue (NBR) is considering carrying out an 'experiment' to increase revenue earning by lowering corporate income tax, said its Chairman Md Mosharraf Hossain Bhuiyan. He also p...

Govt likely to publish loan defaulters’ names in media: Muhith

Govt likely to publish loan defaulters’ names in media: Muhith

-- 2018-04-11 19:58:45

Finance Minister Abul Maal Abdul Muhith has said that the government may publish the detail identities of bank loan defaulters in the newspapers. The minister made the remarks while responding to a s...

Kamal protests World Bank comments on GDP growth

Kamal protests World Bank comments on GDP growth

FE Online Report 2018-04-11 18:43:32

Planning Minister AHM Mustafa Kamal strongly protested the World Bank (WB)’s comments on the growth of Bangladesh’s gross domestic product (GDP) and asked the institution to amend its rece...

Non-Performing Loans: Curse for sustainable growth

Non-Performing Loans: Curse for sustainable growth

-- 2018-04-11 18:01:20

Now that Bangladesh has met all the criteria for graduating into a developing country all efforts should be made to strengthen the banking sector.  The requirements and challenges of many to a d...

WB approves $55m loan to expand BD's renewable energy

WB approves $55m loan to expand BD's renewable energy

FE Online Report 2018-04-11 17:33:11

The World Bank (WB) would provide $55 million additional funds to expand Bangladesh’s renewable energy in rural areas as the global lender approved the loan on Wednesday. The loan will be addit...

Kenya’s economy to grow 5.5pc in 2018: WB

Kenya’s economy to grow 5.5pc in 2018: WB

-- 2018-04-11 13:19:39

Kenya’s economy will grow by 5.5 per cent in 2018, up from the 4.8 per cent growth it had projected for last year, the World Bank (WB) said on Wednesday. The East Africa country’s econo...

BD economy to grow 7.0pc in FY18: ADB

BD economy to grow 7.0pc in FY18: ADB

FE Online Report 2018-04-11 11:19:17

Bangladesh economy is likely to grow by 7.0 per cent in the current fiscal year, according to the latest projection of the Asian Development Bank (ADB). The Manila-based international lender organisa...

At-source taxpayers to come under tax net

At-source taxpayers to come under tax net

-- 2018-04-11 09:39:14

Chairman of the National Board of Revenue (NBR) has said that people who are paying tax at source will be brought under the net in the next financial year. The majority of such taxpayers go traceless...

NBR to observe revenue ‘Halkhata’ on Sunday

NBR to observe revenue ‘Halkhata’ on Sunday

FE Online Desk 2018-04-10 14:49:19

The National Board of Revenue (NBR) will observe revenue Halkhata on April 15 next, on the occasion of Pahela Baishakh, in a bid to encourage taxpayers clear their long-pending dues on that day. Md M...

Chinese investment in US falls sharply

Chinese investment in US falls sharply

-- 2018-04-10 13:46:38

Chinese investment in the US plunged last year as tensions between the two countries mounted. The value of deals announced in 2017 fell by more than 90 per cent from the year before, according to joi...

Budget to 'rationalise' rate, cut layers

Budget to 'rationalise' rate, cut layers

FE Report 2018-04-10 10:17:55

The budget for the upcoming fiscal year, 2018-19, would explore ways for 'rationalising' the existing corporate tax rate in the country, Finance Minister A M A Muhith said in the capital on Monday. "...

NBR seeks explanation from Agrani

NBR seeks explanation from Agrani

Doulot Akter Mala 2018-04-10 10:11:29

The National Board of Revenue (NBR) has issued a show cause notice on Agrani Bank following the state-owned bank's failure to pay value added tax (VAT) and excise duty worth Tk 400 million to it (NBR)...

Submit action plans to bring down ADR limit, BB asks banks

Submit action plans to bring down ADR limit, BB asks banks

Siddique Islam 2018-04-10 09:31:06

The central bank has asked the banks to submit their specific action plans to its department concerned by April 30 to help bring down the advance-deposit ratio (ADR) limit at required level, officials...

WB to provide loan of $515m for two projects

WB to provide loan of $515m for two projects

-- 2018-04-09 19:04:53

The World Bank is set to provide a loan of $515 million financial assistance for two projects in the power transmission and insurance sectors in the country. To this end, two separate agreements will...

WB questions government data about GDP growth

WB questions government data about GDP growth

FE Online Report 2018-04-09 18:29:14

The World Bank (WB) on Monday has expressed doubts about the Bangladesh’s 7.65 per cent GDP growth projection for the current fiscal raising questions regarding some government data. The Washin...

Alibaba creates 36.8m jobs in 2017

Alibaba creates 36.8m jobs in 2017

-- 2018-04-09 14:56:10

Alibaba Group Holding Limited, Chinese multinational e-commerce, retail, Internet, AI and technology conglomerate, created over 36.8 million jobs last year via its expansive retail ecosystem. The com...

German exports plunge to 2-1/2 year-low

German exports plunge to 2-1/2 year-low

-- 2018-04-09 14:27:13

German exports plunged unexpectedly in February, posting their biggest monthly drop in 2-1/2 years and narrowing the trade surplus, data showed on Monday. Seasonally adjusted exports of the fourth la...

Raise savings tools’ investment ceiling

Raise savings tools’ investment ceiling

FE Report 2018-04-09 10:28:39

Government secretaries have requested the finance minister to raise the ceiling on investment in savings tools to help them during their old age, sources said. They made the request at a pre-budget d...

New move to conduct seismic survey in offshore blocks

New move to conduct seismic survey in offshore blocks

M Azizur Rahman 2018-04-09 09:43:15

The government has moved afresh to carry out seismic survey in offshore blocks to acquire data on hydrocarbon deposits to chalk out future steps for ensuring the country's energy security. State-run...

Lending rate will drop to single digit soon, economists hope

Lending rate will drop to single digit soon, economists hope

-- 2018-04-08 18:40:48

Economists said interest rate should come down to single digit soon as the recent downward adjustment of cash reserve requirement (CRR) and the  decision to keep 50 per cent of state agencies&rsq...

Hotel and restaurant sector set to post higher growth

Hotel and restaurant sector set to post higher growth

FE Online Report 2018-04-08 16:49:52

Country’s hotel and restaurant sector is going to post higher growth in the ongoing fiscal year. Provisional estimation of the national income, released by the Bangladesh Bureau of Statistics (...