Search results for: economy

Shortage of Suzuki car mirrors reflects Sri Lanka's growing crisis

-- 2022-02-18 15:38:24

Car spare parts dealers in Sri Lanka's main city of Colombo are receiving a steady stream of customers looking for what is fast becoming a prized commodity in the island nation - side mirrors for Suzu...

Bangladesh, Thailand hold official consultation on March 1

MUNIMA SULTANA 2022-02-18 10:14:42

Bangladesh and Thailand may start negotiations on signing a free trade agreement (FTA) in the upcoming foreign office consultation (FoC) which is expected to be held in Bangkok on March 1 next, sour...

Envoy wishes to see Sweden's green companies investing in Bangladesh

FE REPORT 2022-02-18 08:54:15

The Swedish envoy in Dhaka expressed her desire to see Swedish green companies coming to Bangladesh and investing here. Ambassador of Sweden to Bangladesh Alexandra Berg von Linde also said that Sw...

Revenue resurrection helps cut Bangladesh's budget deficit

JASIM UDDIN HAROON 2022-02-17 08:42:34

Bangladesh's widening budget deficit narrowed to Tk 1.29 trillion in the past fiscal year with the gap between spending and revenue earning declining amid economic recovery from pandemic-induced slump...

Bangladesh inks MoU with non-government Australian stakeholders

-- 2022-02-16 17:40:52

Bangladesh High Commission in Canberra and Cross Sector Development Partnerships Initiative (XSPI) have signed a Memorandum of Understanding (MoU) to complement the existing Australian government deve...

Tk 15b cash incentives released for local exporters

FE REPORT 2022-02-16 11:22:04

The government has released Tk 15 billion for the payment of cash incentives to local exporters on their export earnings. It is the 3rd instalment of cash incentives for the January-March period of t...

FTA can boost Bangladesh-Japan economic ties: Stakeholders

FE REPORT 2022-02-16 10:26:49

Facilitating a Free Trade Agreement (FTA) can enhance the bilateral economic relation between Bangladesh and Japan, as the latter sees more investment opportunities here, speakers at a webinar on Tues...

Bangladesh's per capita investment, value addition in agriculture low

FE REPORT 2022-02-16 09:03:44

Bangladesh's per capita investment and value addition in agriculture are much lower than those of some south and southeast Asian countries, thus resulting in a low productivity, a study of the Food an...

Bancassurance to be introduced in Bangladesh soon

JASIM UDDIN HAROON 2022-02-14 09:17:25

Banking and insurance regulators are framing two sets of guidelines on introducing an alternative selling strategy for insurance products through banking institutions with sights set on revenue boost...

Bangladesh plans annual rise in transport, communication spending to make it efficient

-- 2022-02-13 17:11:53

The government plans to increase the budget in the transport and communication sector by 14 per cent annually to make it cost-effective and efficient to ensure the socio-economic progress of the count...

Afghan central bank terms US plan for frozen funds an 'injustice'

-- 2022-02-13 09:10:52

Afghanistan's central bank on Saturday criticised Washington's plan to use half the bank's $7 billion in frozen assets on US soil for humanitarian aid and set aside the rest to possibly satisfy lawsui...

DCCI calls for removing procedural bottlenecks for easy disbursement of CMSME loans

-- 2022-02-12 19:26:16

Several procedural bottlenecks are holding back prompt disbursement of stimulus money to the cottage, micro, small and medium enterprise (CMSME) borrowers, experts said in a workshop on Saturday.&nbsp...

Investment in proportion to GDP falls as private investors pause

FHM HUMAYAN KABIR 2022-02-12 08:48:22

Bangladesh keeps posting higher economic growth with the falling investment-to-GDP ratio despite incremental government investments in infrastructure development as private investors seemingly pause,...

US sees biggest annual increase in inflation in 40 years

-- 2022-02-11 10:09:27

US consumer prices rose solidly in January, leading to the biggest annual increase in inflation in 40 years, fueling financial markets speculation for a hefty 50 basis points interest rate hike from t...

Kamal defends final GDP calculation showing higher growth

FE REPORT 2022-02-11 10:03:02

Finance Minister A H M Mustafa Kamal on Thursday defended the growth-rate-calculation process for the fiscal year (FY) 2020-21. The rate finally rose to 6.94 per cent from the provisional 5.43 per c...

No area of economy has negative growth, says Finance Minister

-- 2022-02-10 18:19:07

Finance Minister AHM Mustafa Kamal has said that there is no sector of the economy that has negative growth. He made the claim while briefing reporters on the outcomes of the two consecutive meetings...

$21.5m EU funding to fast-track climate-smart investments in six South Asian nations, including Bangladesh

FE ONLINE REPORT 2022-02-10 15:30:00

Six South Asian nations, including Bangladesh, are set to benefit from a new US$21.5 million (EUR 18 million) funding from the European Union (EU) which will accelerate climate-smart and inclusive inf...

Sales of savings certificates slump for deep yield cuts

FE REPORT 2022-02-10 10:40:27

Deep cuts in yield rates send net sales of national savings certificates (NSCs) into negative territory in December, raising prospect for banks to wallow in deposit. The net negative sales of NSCs --...

BB asks banks to go by revenue board's clarification

FE REPORT 2022-02-10 09:41:10

The central bank has asked all authorised dealer (AD) banks to follow the National Board of Revenue's (NBR) clarification while deducting tax against outward remittance from income of non-residents....

Bangladesh's apparel exports to US cross pre-pandemic level in 2021

MONIRA MUNNI 2022-02-10 09:37:38

Despite the Covid-19 pandemic, Bangladesh fetched US$7.14 billion from readymade garment exports to the US in 2021, keeping the market as its single-largest destination without any duty preferences....

Banks to deduct tax on service value of non-resident nationals

-- 2022-02-09 20:32:37

Bangladesh Bank has directed the banks, which are engaged in foreign exchange transactions, to deduct tax at a fixed rate on the service value of a non-resident person or organisation. The Foreign Ex...

Government statisticians calculate Bangladesh GDP growth at almost 7.0pc in 2020-21, belying lenders' estimate

FE REPORT 2022-02-09 08:56:38

Bangladesh's economic growth in the last fiscal marks a quantum leap by 1.51 percentage points to an impressive 6.94 per cent in final official calculations, despite pandemic devastations. In the p...

Bangladesh's economy grows 6.94pc in FY21

-- 2022-02-08 16:12:14

Bangladesh's economy grew 6.94 per cent in fiscal 2020-21, exceeding the government’s provisional estimate of 5.43 per cent for the year. Planning Minister MA Mannan gave the information on Tue...

Pacts on cards to boost Canadian investment in Bangladesh

-- 2022-02-08 15:47:51

Dhaka and Ottawa are likely to ink two key pacts to increase Canadian trade and investment in Bangladesh. "The free trade pact and the foreign investment promotion and protection agreement between th...

Nipun lodges appeal against court’s stay on cancellation of actor Zayed’s candidacy

-- 2022-02-08 15:45:35

Actress Nipun Akter has appealed against the High Court stay order on the Bangladesh Film Artistes Association’s decision to cancel the candidacy of actor Zayed Khan for the group’s genera...

Japan to provide $9.0m to reinforce WFP, IOM operations in Bangladesh

-- 2022-02-08 15:42:34

Japan will provide US$9.0 million to support the operations of World Food Programme (WFP) and International Organization for Migration (IOM) in Bangladesh, reports UNB. This support contributes appro...

Business confidence declines as Omicron spreads

FE ONLINE REPORT 2022-02-07 19:18:46

Overall business confidence in January-March this year faces a decline in comparison to the October-December 2021 quarter, reflecting their growing concern about the advent of Omicron, according to th...

Bangladeshi company to set up backward linkage industry in IEPZ

-- 2022-02-06 16:53:47

M/s Adnan Fibre Limited, a Bangladeshi company, is going to establish a backward linkage industry in Ishwardi Export Processing Zone (IEPZ) in Pabna. Bangladesh Export Processing Zones Authority (BE...

Bangladesh won't fall into Chinese debt trap, says Foreign Minister Momen

FE REPORT 2022-02-06 09:18:20

Bangladesh will not fall into the so-called Chinese debt trap as the volume of its loan from China is not that big, said Foreign Minister Dr AK Abdul Momen on Saturday. He said it while responding...

Sri Lanka signs $500m credit line for fuel with India

-- 2022-02-03 10:33:43

Sri Lanka signed a $500 million credit line with India to import fuel on Wednesday, officials said, as the island nation seeks to stave off rolling power cuts amid a foreign exchange crisis that has h...