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The Financial Express

Search results for: economy

Beige Book reports negative impact of coronavirus on US economy

-- March 05, 2020 12:45:48

The feared spread of Coronavirus has had a negative impact on the US economy, dimming the growth prospect of the economy in the near term, according to the Beige Book. US Federal Reserve (Fed) said...

Philippine inflation slows down to 2.6pc in Feb

-- March 05, 2020 12:17:57

The Philippines' headline inflation slowed down to 2.6 per cent in February, compared to 2.9 per cent in January and 3.8 per cent in February 2019, the Philippine Statistics Authority said on Thursday...

IMF provides $50 billion to fight coronavirus outbreak

-- March 05, 2020 10:23:44

The International Monetary Fund (IMF) has announced $50 billion in funding for countries hit by the coronavirus. The organisation also warned that the outbreak had already pushed this year's global e...

MCCI portrays a mixed picture, lists challenges

FE REPORT March 05, 2020 10:16:02

Outlining multiple challenges facing the country on business and fiscal fronts, the Metropolitan Chamber of Commerce and Industry (MCCI), Dhaka, a leading trade body, has suggested that the government...

BAPEX announces discovery of new gas field in Cumilla

-- March 04, 2020 18:21:57

The Bangladesh Petroleum Exploration and Production Company Limited (BAPEX) announced discovery of a new gas field in Srikail of Cumilla’s Muradnagar upazila on Tuesday. The digging work starte...

South Korean company to invest $6.0m in Mongla EPZ

-- March 04, 2020 16:53:11

South Korean Company Ms Jong Hyun Hi-Tech Industries Company Limited is going to establish a polyester staple fiber (PSF) manufacturing industry with an investment of US$ 6.0 million in Mongla Export...

India's SC allows trade in cryptocurrency, quashes RBI curb

-- March 04, 2020 15:28:11

India’s Supreme Court (SC) on Wednesday allowed banks to handle cryptocurrency transactions from exchanges and traders, overturning a ban on such dealings by the central bank. The Reserve Bank...

Inflation drops further in February

FE Online Report March 03, 2020 20:10:32

Monthly inflation rate, calculated on the basis of consumer price index (CPD), declined further in February this year to 5.46 per cent from 5.57 per cent in January. The rate was recorded at 5.75 per...

HC issues rule on 9pc interest rate

-- March 03, 2020 17:37:35

The High Court has issued a rule questioning the legality of Bangladesh Bank's circular fixing the interest rate on all loans, except for credit cards, at 9 per cent. Justice Abu Taher Md Saifur Rahm...

BEZA gets $20.5b investment proposals

-- March 03, 2020 14:57:16

Bangladesh Economic Zones Authority (BEZA) has received investment proposals amounting to around 20.50 billion US Dollar from 151 local and foreign business entities, officials said. Out of the inves...

IMF, WB stand ready to address economic challenges of coronavirus

REUTERS March 03, 2020 14:44:26

The International Monetary Fund and the World Bank on Monday said they stood ready to help member countries address the human and economic challenges of the fast-spreading coronavirus outbreak, includ...

Single-digit interest rate: ICB wants in on new regime

SYFUL ISLAM March 03, 2020 10:55:08

The Investment Corporation of Bangladesh, or ICB, has requested the government to cut interest rate on term deposits it took from banks to support the stock market. Presently, the corporation has som...

Import fall pushes up tax revenue shortfall

FE Report March 03, 2020 10:50:11

Tax revenue shortfall aggravated further, hovering to a deficit worth Tk 374.97 billion against its target until January of the current fiscal year (FY), 2019-20, largely due to fall in import of reve...

Labour-saving tech shrinks job growth

FE REPORT March 03, 2020 09:54:14

Employment growth in the manufacturing sector has decelerated in recent years, accelerated by investment in higher productivity, according to an economist. Rizwanul Islam, visiting senior fellow of t...

'Coronavirus outbreak plunging economy into worst downturn'

-- March 02, 2020 22:05:46

The coronavirus outbreak is plunging the world economy into its worst downturn since the global financial crisis, the Organisation for Economic Cooperation and Development (OECD) warned on Monday. Th...

July-Feb remittance flow crosses $12b

SIDDIQUE ISLAM March 02, 2020 10:15:09

The flow of inward remittances crossed US$12 billion in the first eight months of this fiscal year (FY), despite a significant fall in February, officials said. The inflow of remittances grew by more...

Coronavirus outbreak batters economies

-- March 02, 2020 00:24:58

Amid fears about where the next outbreak of a fast-spreading new virus would appear, infections and deaths continued to rise across the globe Sunday, emptying streets of tourists and workers, shaking...

Writ challenges BB circular on single-digit loan interest

-- March 01, 2020 15:46:31

A writ petition was filed with the High Court on Sunday challenging a Bangladesh Bank circular that fixed 9 per cent loan interest. Law student Mahfuzur Rahman filed the petition with the High Court,...

Mexican exports grow 3.2pc in January

-- February 29, 2020 12:00:38

Mexico's exports grew 3.2 per cent year on year in January, thanks in large part to the manufacturing and petroleum industries, the National Institute of Statistics and Geography (INEGI) has announced...

Brazil to review GDP growth projection

-- February 29, 2020 11:57:02

Brazil's gross domestic product (GDP) estimates will be reviewed, given the impact of the novel coronavirus epidemic, a government official has said. According to Adolfo Sachsida, economic policy sec...

Post office savings: Govt moves to make NID mandatory

JASIM UDDIN HAROON February 29, 2020 10:30:37

The government is set to make use of national identity cards mandatory for the people willing to open accounts with Sanchaya Bank which belongs to Bangladesh Post Office. The latest move is seen as a...

Japan's PM pledges to protect economy from coronavirus impact

-- February 28, 2020 12:37:15

Japanese Prime Minister Shinzo Abe has pledged to take policy steps as needed to prevent the coronavirus outbreak from dealing a severe blow to the country’s fragile economic recovery. Abe on F...

Coronavirus may bring fortune for Bangladesh

FE Report February 28, 2020 10:50:59

The spread of new coronavirus (COVID-19) in China may bring fortune for a booming economy like Bangladesh as many countries have by now realised that dependence on a single country for sourcing produc...

IMF projects 0.8pc growth for Zimbabwe in 2020

-- February 27, 2020 15:50:33

The International Monetary Fund (IMF) has projected a 0.8 per cent growth for Zimbabwe's economy 2020, much lower than a 3.0 per cent forecast by the Zimbabwe government. In a statement, the IMF on W...

Depositors’ money to be more secure under new act: BB

-- February 26, 2020 21:36:55

The Bangladesh Bank has said depositors’ money in banks and financial institutions will be more secure after implementation of proposed ‘Deposit Protection Act, 2020’. BB's chief sp...

Trump, Modi hope talks lead to phase one of US-India trade deal

Reuters February 26, 2020 13:21:24

US President Donald Trump and Indian Prime Minister Narendra Modi have agreed to “promptly” conclude ongoing trade talks that they hope can lead to the first phase of a bilateral US-India...

Bangladesh, India discuss ways to boost trade ties

-- February 25, 2020 22:30:08

Speakers at a seminar on Tuesday discussed trade and business opportunities between Bangladesh and India and ways to bolster trade relations taking advantage of the proximity. Indian High Commission...

India has 98pc of coal resources among BIMSTEC states: Report  

FE REPORT February 25, 2020 22:21:21

India is top with more than 98 per cent of coal resources, followed by Bangladesh 1.2 per cent among member countries of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperat...

NEC approves second perspective plan

-- February 25, 2020 18:10:35

The National Economic Council (NEC) has approved the Second Perspective Plan of Bangladesh (2021-2041) in a bid to turn Bangladesh as a higher mid-income country by 2031 and a higher income and develo...

Tariff commission fears serious impact on trade with China

SYFUL ISLAM February 25, 2020 09:49:41

The impact of novel coronavirus on Bangladesh-China bilateral trade is already visible and may seriously affect it in the long run, the Bangladesh Trade and Tariff Commission has said. "Due to the vi...