The Financial Express

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Shortfall forces NBR to consider trimming tax collection target

Doulot Akter Mala 2018-04-08 09:43:55

The government is considering chopping its tax revenue collection target by nearly Tk 280 billion after the receipt dropped in the seven months to February. The National Board of Revenue's tax collec...

'Diversification in local businesses creating better future for economy'

-- 2018-04-07 18:49:51

Next decade for Bangladesh economy looks bright as diversification in local businesses beyond the RMG sector is shaping the country for a better future. Bangladesh Bank's Chief Economist Faisal Ahmed...

Myanmar earns $1.1b from rice export in FY 2017-18

-- 2018-04-07 14:38:38

Myanmar has earned over 1.11 billion US dollars from rice and broken rice export in the fiscal year 2017-2018 which ended in March, the Myanmar Rice Federation said Saturday. From April 1, 2017 to M...

US economy creates 103,000 jobs in March

-- 2018-04-07 12:51:11

The US economy created 103,000 jobs in March while the wage growth picked up a bit. Average hourly earnings rose eight cents or 0.3 per cent last month after edging up 0.1 per cent in February. Nonfa...

Current yield rates on savings certificates to stay: NBR chief

FE Online Report 2018-04-07 12:24:57

The government has no plan to cut yield rates on state-owned savings certificates, said National Board of Revenue (NBR) chairman Mosharraf Hossain Bhuiyan on Saturday. Despite the interest payments b...

Project aid allocation worth Tk 600b likely

FHM Humayan Kabir 2018-04-07 09:27:11

The government is likely to earmark more than Tk 600 billion as project aid in the development budget for the next financial year (FY) 2018-19, up 16 per cent from the outlay for the current FY, offic...

Stunning success in using Japanese aid

Syful Islam 2018-04-07 00:08:34

Bangladesh achieved considerable progress in utilising Japan's aid loan in the Japanese financial year ending in March, data shows. The disbursement of overseas development assistance loan from JICA...

Remittance inflow jumps by 17.04pc in nine months

-- 2018-04-06 19:38:39

Remittance inflow in the first nine months rose by 17.04 per cent to that of the corresponding period of the previous fiscal. As per Bangladesh Bank (BB) data, expatriate Bangladeshis sent US $10,761...

MAS likely to tighten monetary policy in April

-- 2018-04-06 12:58:20

The Monetary Authority of Singapore (MAS), central bank of the Asian country, is expected to tighten monetary policy in April for the first time in six years, reports Reuters. A Reuters survey, pr...

ADB launches new procurement policy

FE Report 2018-04-06 11:10:33

The government and the Asian Development Bank (ADB) have reviewed the implementation status and readiness of the lender's assisted projects in Bangladesh to further improve development results. The A...

Emphasis on flexible tax policy to entice FDI

FE Online Report 2018-04-05 20:26:40

The country’s investment promotion authorities urged the government’s revenue authority to adopt a more flexible tax policy to woo more foreign direct investment (FDI). The suggestions...

Nepal has Rs 9.5b in demonetised Indian notes

-- 2018-04-05 13:40:51

Nepali Prime Minister K P Sharma Oli will press India to exchange millions of dollars held in Nepal in banned high-value Indian bank notes during a visit this week to improve ties with its large south...

China to develop industrial zone in Ctg

-- 2018-04-05 13:19:55

China is developing a 750-acre industrial park in Bangladesh which will largely be used by Chinese manufacturing firms, a Chinese official said on Wednesday, part of its push to expand links with Sout...

NOAB demands keeping print media out of tax net

FE Report 2018-04-05 10:05:16

Newspaper owners on Wednesday proposed the government to keep the print media out of tax net considering it a "sick" industry, which would perish gradually with the expansion of digital media. The le...

Banking sector growth likely to decline in FY ’18

FHM Humayan Kabir 2018-04-05 09:31:15

A number of scams along with troubles of varying nature have hit the growth of the country's banking sector, as its expansion rate is likely to drop by 1.32 percentage points in the current fiscal yea...

BD to get 85.11m euro from IDB for rural, peri-urban housing

-- 2018-04-04 19:32:00

Bangladesh will receive 85.11 million Euro in loan from the Islamic Development Bank (IDB) for rural and peri-urban housing. Bangladesh signed a loan agreement with this Jeddah-based lending agency o...

Many businesses balk at paying VAT unlike income tax: NBR chief

FE Online Report 2018-04-04 15:49:52

Many business entities are reluctant to pay VAT (value added tax) to the government exchequer as it is yet to get acceptance like income tax, National Board of Revenue (NBR) chairman Md Mosharraf Hoss...

Sri Lanka central bank cuts key rate amid slow growth

-- 2018-04-04 15:36:02

The Central Bank of Sri Lanka (CBSL) cut its key lending rate by 25 basis points on Wednesday. The central bank unexpectedly cut the key rate as policy makers sought to revitalise an economy growin...

UK shop prices drop in March

-- 2018-04-04 14:19:19

British shop prices dropped in March at the fastest pace in more than a year, adding to signs that inflation pressure caused by the pound’s post-Brexit drop is fading away, an industry survey sh...

59pc of APAC financial cos to invest in real-time detection of fraud

FE Online Desk 2018-04-04 14:04:51

The detection of fraud is a key concern for companies around the world, particularly for consumer banking and credit card companies. 78 per cent of retail banking and cards companies are most concern...

Road ministry seeks 74pc higher fund

FHM Humayan Kabir 2018-04-04 12:29:37

The ministry of road transport and bridges has sought Tk 430.48 billion in the next development budget, up 74 per cent it received in the last fiscal year. In the last financial year of 2017-18, the...

BB cuts banks’ CRR, effective from Apr 15

FE Report 2018-04-04 12:24:20

The central bank of Bangladesh slashed on Tuesday the cash reserve requirement (CRR) by 1.0 percentage point to 5.50 per cent, enabling all the scheduled banks to use Tk 101 billion worth of additiona...

Economy encountering money market, BoP imbalances

Asjadul Kibria 2018-04-04 12:17:15

The ongoing chaos in the country's financial market is the manifestation of inefficiency in managing the macro-economy, economists said. They warned that measures taken lately to shore up liquidity i...

Export earnings decline by 1.38pc in March

FE Report 2018-04-04 00:33:59

The country's export earnings in March dropped by 1.38 per cent to $3.05 billion, compared to the corresponding month of last calendar year, according to officials data released on Tuesday. In March...

BB fixes fees against loans for financial institutions

-- 2018-04-03 18:13:17

Bangladesh Bank (BB) has fixed fees against credit or lease for all financial institutions (FIs). As per a circular issued by the central bank on Monday, the fees for all FIs against loans will be th...

ECNEC approves 10 projects worth Tk 34.16b

FE Online Report 2018-04-03 17:58:41

The Executive Committee of the National Economic Council (ECNEC) approved 10 projects at a combine cost of Tk 34.16 billion at its meeting Tuesday. Prime Minister Sheikh Hasina presided over the meet...

Inflation rate drops slightly in March

FE Online Report 2018-04-03 16:59:54

The point-to-point inflation rate in the last month March of the current fiscal dropped to 5.68 per cent compared to that of 5.72 per cent in the previous month February. Bangladesh Bureau of Statist...

DCCI proposes NBR to slash corporate tax rates

FE Online Report 2018-04-03 15:37:14

The Dhaka Chamber of Commerce & Industry (DCCI) on Tuesday proposed the revenue authority to slash corporate tax rates in phases for listed and non-listed companies in the upcoming budget. The ch...

Bangladesh estimates 7.65pc growth for FY18

-- 2018-04-03 14:25:28

Bangladesh has estimated that per capita income will rise to $1,752 in the current fiscal year (FY) ending Jun 30 from $1,610 a year ago. Planning Minister AHM Mustafa Kamal revealed the information...

Export earnings up by 6.33pc in nine months

FE Online Report 2018-04-03 14:06:47

The country's export earnings maintained a moderate growth of 6.33 per cent during the first nine months of the current fiscal year (FY), 2017-18. The export earnings stood at US$27.45 billion during...