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The Financial Express

Search results for: economy

Economists fear double-whammy of unemployment may sow social tensions

Economists fear double-whammy of unemployment may sow social tensions

-- 2020-08-03 10:52:19

Piling on top of the pre-pandemic stock of jobless population, economists apprehend the newly unemployed resulting from firms severely scaling back on their activities as part of ‘lockdown&rsquo...

Japan Q1 GDP unchanged at 2.2pc annualised contraction after second revision

Japan Q1 GDP unchanged at 2.2pc annualised contraction after second revision

-- 2020-08-03 10:10:07

Japan’s economy shrank an annualised 2.2 per cent in January-March, unchanged after a second revision, data from the Cabinet Office showed on Monday. The additional revision for the gross domes...

ADB sees pandemic slashing 2020 global remittances by over $100 billion

ADB sees pandemic slashing 2020 global remittances by over $100 billion

-- 2020-08-03 09:28:25

Remittances across the world could decline by $108.6 billion this year as job losses mount and employers trim payrolls amid a Covid-19 pandemic that has devastated economies, according to a report by...

Democrats, White House still at impasse over coronavirus bill

Democrats, White House still at impasse over coronavirus bill

REUTERS 2020-08-02 14:28:53

The top Democrats in Congress are not close to a deal with the White House to pump more money into the US economy to ease the coronavirus’ heavy toll, both sides said on Saturday, after an essen...

WB okays $202m to increase food storage capacity in Bangladesh

WB okays $202m to increase food storage capacity in Bangladesh

-- 2020-08-02 12:49:11

The World Bank’s Board of Executive Directors has approved $202 million in additional financing for the Modern Food Storage Facilities Project to increase the storage capacity of Bangladesh&rsqu...

Eurozone economy suffers record drop during lockdown months

Eurozone economy suffers record drop during lockdown months

AP 2020-07-31 20:08:00

The economy of the 19-country eurozone shrank by a devastating 12.1 per cent during the second quarter from the quarter before as coronavirus lockdowns froze business and consumer activity. It was the...

Spain enters steep recession, wiping out six years of growth

Spain enters steep recession, wiping out six years of growth

REUTERS 2020-07-31 15:25:50

Spain recorded a historic fall in GDP in the second quarter of the year, with the 18.5 per cent drop wiping out all the post-financial crisis recovery of the last six years, data from National Statist...

Italy loses 600,000 jobs since Covid-19 outbreak

Italy loses 600,000 jobs since Covid-19 outbreak

Xinhua 2020-07-31 12:20:49

Italy has lost 600,000 jobs in June compared to February -- before the COVID-19 pandemic forced the country into a national lockdown that drove its economy to a halt, according to provisional estimate...

Mexico's GDP plunges record 18.9pc in Q2

Mexico's GDP plunges record 18.9pc in Q2

-- 2020-07-31 10:49:04

Mexico's gross domestic product (GDP) plunged a record 18.9 per cent in the second quarter of 2020, compared to the same period last year, the National Institute of Statistics and Geography (INEGI) sa...

World economic recovery looks ever more shaky

World economic recovery looks ever more shaky

REUTERS 2020-07-31 10:39:16

The world economic outlook has dimmed again, with still-rising coronavirus infections and the risk of renewed lockdowns increasing the chances that any rebound will reverse course, according to Reuter...

China warns India against 'forced decoupling' of their economies

China warns India against 'forced decoupling' of their economies

REUTERS 2020-07-31 10:24:29

China warned on Thursday that a “forced decoupling” of its economy with India, following a Himalayan border clash last month that killed 20 Indian soldiers, would hurt both countries. The...

US jobless claims rise for 2nd consecutive week

US jobless claims rise for 2nd consecutive week

-- 2020-07-31 10:14:21

The number of initial jobless claims in the United States rose to 1.43 million last week amid a resurgence in COVID-19 cases, following an increase in the previous week, the Labor Department reported...

WB likely to give $500m loan for dev of technical education

WB likely to give $500m loan for dev of technical education

FHM Humayan Kabir 2020-07-31 09:48:04

The World Bank (WB) is likely to provide US$500 million worth of loan for the development of Bangladesh's technical education including health education following the Covid-19 outbreak, officials said...

LNG imports up 64.61pc in FY ’20

LNG imports up 64.61pc in FY ’20

M AZIZUR RAHMAN 2020-07-31 09:36:53

Bangladesh's liquefied natural gas (LNG) import increased significantly by 64.61 per cent in last fiscal year (FY), 2019-20, to 4.164 million tonnes to meet the mounting domestic gas demand. The stat...

Safety nets bypass 'missing middle'

Safety nets bypass 'missing middle'

FE REPORT 2020-07-31 09:31:07

Speakers at a webinar stressed the need for reforming existing social protection programmes to reach the "missing middle" and vulnerable people after the Covid-19 pandemic that pushed millions back in...

Virus revives 'mattress' economy

Virus revives 'mattress' economy

JASIM UDDIN HAROON 2020-07-31 09:26:59

Money multiplier decreased in the last fiscal year as people are holding cash after the coronavirus pandemic, according to statistics prepared by the central bank. The data show that the key indicato...

Austrian economy suffers historic 11 per cent slump in second quarter

Austrian economy suffers historic 11 per cent slump in second quarter

REUTERS 2020-07-30 16:07:44

The Austrian economy shrank 10.7 per cent in the second quarter, marking its biggest contraction since the data series began after World War Two, as the coronavirus pandemic hit both domestic and fore...

Work for inclusive societies, economies: UN chief

Work for inclusive societies, economies: UN chief

-- 2020-07-30 14:45:52

UN Secretary-General Antonio Guterres has urged all to pledge to work for inclusive societies and economies that leave no one behind. UN Secretary-General Antonio Guterres has urged all to pledge to...

Vietnam's industrial production up slightly in 7 months

Vietnam's industrial production up slightly in 7 months

-- 2020-07-30 11:12:01

Vietnam's national index of industrial production advanced 2.6 per cent year-on-year in the first seven months of this year, according to the General Statistics Office on Thursday. The main driver of...

Economists heap praise on monetary policy

Economists heap praise on monetary policy

FE REPORT 2020-07-30 09:48:23

The monetary policy released by the central bank on Wednesday for the current fiscal year is towards the right direction, economists say warning of the possible abuse. The policy for 2020-2021 fiscal...

Revised incentive package for investors underway

Revised incentive package for investors underway

Mir Mostafizur Rahaman 2020-07-30 09:34:48

The country's investment promotion agencies are pulling their socks up to improve the country's investment climate, a prerequisite for snaring foreign investors. Analysts are of the opinion that th...

China-EU economic ties steering toward recovery from COVID-19

China-EU economic ties steering toward recovery from COVID-19

Global Times 2020-07-29 16:20:41

China and EU Tuesday convened one of their most important meetings of the year, steering the vessel of bilateral economic ties toward a reassuring recovery from the COVID-19 pandemic. The two major e...

BB lowers borrowing costs to boost money flow

BB lowers borrowing costs to boost money flow

FE ONLINE REPORT 2020-07-29 16:17:50

The central bank unveiled an expansionary monetary policy on Wednesday for current fiscal year lowering borrowing costs to boost money flow for revamping the pandemic-hit economy. As part of the expa...

Japan cos' China exit: Bangladesh misses the train

Japan cos' China exit: Bangladesh misses the train

MIR MOSTAFIZUR RAHAMAN 2020-07-29 13:45:09

Bangladesh's hope for attracting 30 Japanese companies relocating from China has been dashed as these firms have already decided to move elsewhere. Experts said that strong political will from the hi...

India's gloomy outlook darkens, recovery path in doubt

India's gloomy outlook darkens, recovery path in doubt

REUTERS 2020-07-29 13:33:52

The outlook for India’s reeling economy has worsened again as business activity slows and Covid-19 infections soar, and will probably prompt the Reserve Bank of India to cut interest rates again...

Move to stop tax evasion on cars

Move to stop tax evasion on cars

Doulot Akter Mala 2020-07-29 09:45:37

The National Bard of Revenue (NBR) has joined its hand with the Bangladesh Road Transport Authority (BTRA) to scrutinize information of vehicle owners to check tax evasion. The step has also been tak...

Forex reserve crosses $37b-mark for first time

Forex reserve crosses $37b-mark for first time

-- 2020-07-28 21:53:31

The country’s foreign exchange reserve has touched a new record of $37.10 billion amid coronavirus crisis. The inflow of remittance has played a vital role to raise the foreign exchange reserve...

Country loses 30pc rawhide every year for improper preservation

Country loses 30pc rawhide every year for improper preservation

-- 2020-07-28 18:30:29

The country loses around 30 per cent of total rawhide every year due to improper skinning and environmental protection and preservation, the commerce ministry has said. Describing rawhides of sacrifi...

Annual trade gap crosses $17b in FY20

Annual trade gap crosses $17b in FY20

FE Online Report 2020-07-28 18:09:22

Country’s bilateral merchandise trade gap with the rest of the world crossed $17.0 billion mark in the last fiscal year (FY20), according to the latest statistics of Bangladesh Bank.  It s...

Australian employment suffers setback from second virus wave

Australian employment suffers setback from second virus wave

REUTERS 2020-07-28 16:18:20

Australian employment fell 1.1 per cent between mid-June and mid-July, weekly data showed on Tuesday, with the biggest loss coming from the southeastern state of Victoria, which is grappling with a fr...