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The Financial Express

Search results for: economy

Govt may revise decision on post office savings interest rate

-- February 19, 2020 19:36:36

The government would revise the recent decision of interest rate cut on post office savings schemes considering the concern of the marginalised and low-income people. Finance Minister AHM Mustafa Kam...

No visas for low-skilled workers, UK govt says

BBC February 19, 2020 11:13:16

Low-skilled workers would not get visas under post-Brexit immigration plans unveiled by the government. It is urging employers to "move away" from relying on "cheap labour" from Europe and invest in...

Banks' provision shortfall shrinks by 18pc in Q4

FE Report February 19, 2020 10:16:49

The shortfall in provisions against loans, mostly classified ones, in the banking system has narrowed by over 18 per cent in the fourth quarter of 2019 on the back of lower growth in default loans. T...

Coronavirus slows China's Belt and Road push

Reuters February 18, 2020 20:27:44

When President Xi Jinping made his first state visit this year to Myanmar and signed new infrastructure contracts, there was no indication of the obstacle about to trip up China's plan for railways, p...

Power sector received Tk 522.6b as subsidy in 10 years

UNB February 18, 2020 20:19:34

State Minister for Power, Energy and Mineral Resources Nasrul Hamid informed the parliament on Tuesday that the government provided Tk 522.60 billion as subsidy to power sector in the last 10 years....

UN initiative to improve environment, livelihoods and energy supply in Cox's Bazar

FE Online Desk February 18, 2020 13:20:48

Three United Nations (UN) agencies have launched the Safe Access to Fuel and Energy Plus Livelihoods (SAFE Plus) project in Dhaka alongside the Government of Bangladesh to mitigate deforestation and i...

Bangladesh eyes stronger commercial ties with Qatar

UNB February 17, 2020 18:30:06

Bangladesh and Qatar on Monday discussed ways to strengthen commercial ties further between the two countries and send more workers there ahead of the FIFA World Cup to be held in Qatar in November-De...

Interest rates of savings certificates not lowered

UNB February 16, 2020 21:11:02

The government has clarified that interest rates of different savings schemes with Post Office Savings Bank were lowered, not that of any savings certificate. The Ministry of Finance issued the clari...

ADB provides additional $170m for capital market reform

-- February 15, 2020 16:26:43

The Asian Development Bank (ADB) has approved a second tranche loan of $170 million to conclude the Third Capital Market Development programme in Bangladesh. ADB approved the programme tota...

Service charge on export consignments likely

Rezaul Karim February 15, 2020 10:56:18

The government is contemplating imposing service charge on export consignment under the European Union's (EU) Registered Exporter System (REX) aiming to retain the GSP facility there, officials said...

Padma Bridge to create huge job opportunities: Finance minister

BSS February 14, 2020 19:15:46

Finance Minister AHM Mustafa Kamal has said huge employment opportunities will be created after the beginning of vehicular movement on the Padma Bridge. “Those who are growing up now and studyi...

FDI flow far lower than pledged in three years

FE REPORT February 14, 2020 10:45:18

Investment in Bangladesh by overseas firms was far below their initial pledges in the past three consecutive years through 2018. Such a picture was painted in a written speech by AKM Mozammel Haque,...

Interest rate cap: Private banks' apathy could slow execution, says Fitch

FE REPORT February 14, 2020 10:07:33

Global ratings agency Fitch warns the execution of an interest rate cap will pose "severe" downside risks to Bangladesh's financial stability. "We believe an eventual implementation of a blanket inte...

Finance Minister denies observation of declining revenue collection

-- February 13, 2020 20:48:05

Finance Minister said revenue collection has not dropped in the current fiscal year compared to that of the previous fiscal, amid economists’ observation that revenue collection is declining and...

SDG agenda progress may come up for review in April

Rezaul Karim February 13, 2020 11:38:37

The government is set to review the progress in attainment of sustainable development goals (SDGs) this April, officials said. The progress in the development agenda implementation is likely to come...

Surplus funds in banks hit Tk 1.0tn, again

Siddique Islam February 13, 2020 10:03:09

Banks' excess liquidity has crossed the Tk 1.0 trillion-mark again, fuelled by lower private credit growth in a sign that the investment situation has cooled. Surplus cash surged by nearly 19 per cen...

Coronavirus to affect tourism, aviation sectors

-- February 12, 2020 20:49:30

Coronavirus outbreak in China, which has spread to two dozen countries, will negatively affect Bangladesh’s tourism and aviation sectors, a senior government official said Wednesday. “The...

India’s persistent anti-dumping duty: Dhaka may turn to WTO for redressal

SYFUL ISLAM February 12, 2020 10:09:39

As India declined to lift the anti-dumping duty on Bangladeshi goods, the commerce ministry high-ups have asked one of its wings to start dispute settlement procedure in the World Trade Organisation (...

ECNEC clears nine projects worth Tk 24.22 billion

-- February 11, 2020 15:36:29

The Executive Committee of the National Economic Council (ECNEC) on Tuesday approved nine projects involving Tk 24.22 billion (2422.27 crore). The approval came from the weekly ECNEC meeting held at...

Trump's $4.8t budget gets chilly reception from Congress

REUTERS February 11, 2020 12:26:25

President Donald Trump’s $4.8 trillion budget plan for the coming fiscal year drew a prompt rejection on Monday from congressional Democrats, who said it betrayed his promise to protect popular...

Coronavirus impact: Disruption in supply chain worries RMG exporters

FHM HUMAYAN KABIR February 11, 2020 10:52:20

Bangladesh's clothing industry is likely to be seriously affected by the impact of coronavirus as the country imports almost half its raw materials requirement for the sector, exporters say. They sai...

Japan's current account surplus up 4.0pc in 2019

-- February 10, 2020 12:16:15

Japan's current account surplus increased 4.4 per cent in 2019 compared to a year earlier to reach 20.06 trillion yen (183 billion US dollars), up for the first time in two years, government statistic...

WB to support 1,200 women-owned businesses

-- February 09, 2020 16:40:07

The World Bank Group together with WE Connect International on Sunday launched a project to help 1,200 women-owned businesses connect with potential large local and multinational corporate buyers. Wo...

Nominal wage rate increases by 6.56pc in January

FE ONLINE REPORT February 08, 2020 14:55:52

Country’s nominal wage rate index (WRI) increased by 6.56 per cent in January this year over the same period of last year, according to Bangladesh Bureau of Statistics (BBS).  It also show...

Malaysia's int’l reserves stand at $104.2b

-- February 07, 2020 16:04:53

Malaysia's central bank has said that its international reserves stood at 104.2 billion US dollars as of Jan. 31, 2020. Bank Negara, the central bank of the country, on Friday said in a statement tha...

Focus on harnessing blue economy’s potential

DOULOT AKTER MALA February 07, 2020 10:50:32

The proposed marine fisheries act has focused on the blue economy with incorporating a number of issues including mariculture. Its new provision will also empower the government to check illegal, unr...

Eight local industries to enjoy tax holiday: FM

-- February 06, 2020 20:22:51

Finance Minister AHM Mustafa Kamal on Thursday said the government has decided to give 100 to 20 per cent tax holiday to eight local industries for their development. “The eight new local indus...

Non-food inflation increases in January

FE Online Report February 06, 2020 16:43:51

Monthly non-food inflation rate increased to 6.30 per cent in January from 5.55 per cent in December, according to Bangladesh Bureau of Statistics (BBS). Nevertheless, food inflation dropped to 5.12...

India's central bank holds rates steady

-- February 06, 2020 15:27:15

India's central bank held rates steady on Thursday and retained an accommodative policy stance as it sought to support faltering growth and avoid stoking already high inflation levels. The Reserve Ba...

Qatar reopens labour market for Bangladeshis

-- February 05, 2020 19:29:10

Qatar has reopened its labour market for Bangladeshi workers after a closure for several months. Expatriates' Welfare and Overseas Employment Minister Imran Ahmad told UNB on Wednesday that the decis...