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The Financial Express

Search results for: economy

MoF blocks Tk 24.47b of road projects in FY 20

MoF blocks Tk 24.47b of road projects in FY 20

MUNIMA SULTANA 2020-07-10 09:29:24

Fund crisis caused by the coronavirus pandemic forced the government to block allocation of Tk 24.47 billion funds of different road infrastructure projects in last fiscal year (FY), 2019-2020. As a...

Huawei endows the digital adaptability of BD students

Huawei endows the digital adaptability of BD students

FE Online Desk 2020-07-09 23:08:21

Huawei Bangladesh has partnered with Bijoy Digital to provide digital solutions to T&T High schools across Bangladesh to facilitate distance learning. ‘Bridging the Digital Education Divide...

Sri Lanka central bank delivers steep rate cuts to support virus-hit economy

Sri Lanka central bank delivers steep rate cuts to support virus-hit economy

REUTERS 2020-07-09 16:14:50

Sri Lanka’s central bank delivered an unusually large cut to two of its key interest rates on Thursday as it ramped up efforts to support an economy which has been battered by the Covid-19 pande...

'Death Cross' strikes US dollar as Covid-19 cases grow

'Death Cross' strikes US dollar as Covid-19 cases grow

REUTERS 2020-07-09 13:05:46

A resurgent coronavirus pandemic in the United States and the prospect of improving growth abroad are souring some investors on the dollar, threatening a years-long rally in the currency. The dollar...

China's consumer inflation rises to 2.5pc in June

China's consumer inflation rises to 2.5pc in June

-- 2020-07-09 12:55:25

China's consumer inflation remained generally stable in June under the country's continued efforts toward economic recovery, official data showed Thursday. Consumer price index (CPI), the main gauge...

Indian economic zone: Delhi set to offer $115 million

Indian economic zone: Delhi set to offer $115 million

Saif Uddin 2020-07-09 10:46:24

The economic zone dedicated to Indian investors is set to avail US$115 million under the third credit line from the neighbouring country, a top official said on Tuesday. "The Indian government has re...

Stimulus package: Banks wary amid soured loan fears

Stimulus package: Banks wary amid soured loan fears

Siddique Islam 2020-07-09 09:24:09

Most of the banks are moving carefully while implementing the government's stimulus package for industrial and services sectors to avoid being trapped into fresh defaulted loans. The lenders are scru...

Rice import duty cut may hurt Aman farmers

Rice import duty cut may hurt Aman farmers

Yasir Wardad 2020-07-08 19:47:54

The government's decision to reduce duty on rice import could hurt Aman farmers during the harvesting time, said insiders. They put emphasis on higher procurement from domestic sources as well as lim...

Vietnam's plastic import volume up 5.3pc in H1

Vietnam's plastic import volume up 5.3pc in H1

-- 2020-07-08 16:23:21

Vietnam imported more than 3.1 million tons of plastic worth roughly 3.9 billion US dollars in the first six months of this year, posting a year-on-year rise of 5.3 per cent in volume and a decrease o...

Bill placed in JS to raise BB governors’ age limit to 67 years

Bill placed in JS to raise BB governors’ age limit to 67 years

-- 2020-07-08 13:59:02

The Bangladesh Bank (Amendment) Bill, 2020 has been placed in Parliament to extend the age limit of the governor of the central bank to 67 years. Planning Minister MA Mannan, in absence of Finance Mi...

BJA seeks source tax cut on jute exports

BJA seeks source tax cut on jute exports

 FE Report 2020-07-08 10:16:42

Bangladesh Jute Association (BJA)has demanded reduction of source tax on their export earnings. It also sought facilities of stimulus package announced by the government for the businesses. To this...

Fighting Covid-19: Health ministry seeks Tk 5.0 billion

Fighting Covid-19: Health ministry seeks Tk 5.0 billion

FE REPORT 2020-07-08 09:56:21

Health ministry has sought an estimated Tk 5.0-billion emergency fund from the government with an eye to fighting Covid-19, officials said. To this effect, central medical stores depot (CMSD) has rec...

BB relaxes regulations to attract FDI

BB relaxes regulations to attract FDI

FE ONLINE REPORT 2020-07-07 19:13:49

The central bank of Bangladesh has relaxed regulations aiming to attract foreign direct investment (FDI) through providing three more facilities to foreign investors. Under the relaxations, foreign i...

‘COVID-19 ends hopes of poverty eradication by 2030’

‘COVID-19 ends hopes of poverty eradication by 2030’

-- 2020-07-07 18:54:31

The global COVID-19 pandemic has pushed more than 250 million people to the brink of starvation and dashed hopes of eradicating extreme poverty by 2030, a UN expert said in a report published on Tuesd...

BD likely to continue steady growth rates: HSBC economist

BD likely to continue steady growth rates: HSBC economist

-- 2020-07-07 18:32:29

As global growth recovers in the coming quarters, Bangladesh stands to benefit from its strong economic fundamentals and will likely continue to deliver steady growth rates despite COVID-19 pandemic....

Bangladesh shows resilience despite Covid-19, HSBC economist says

Bangladesh shows resilience despite Covid-19, HSBC economist says

FE Online Desk 2020-07-07 17:54:01

As global growth recovers in the coming quarters, Bangladesh stands to benefit from its strong economic fundamentals and will likely continue to deliver steady growth rates. This is according to Frede...

Last day to send suggestions for FY21 monetary policy

Last day to send suggestions for FY21 monetary policy

FE Online Report 2020-07-07 16:17:45

Today (July 07, 2020) is the last day to send suggestions and opinions for the country’s monetary policy for the fiscal year (FY21). Bangladesh Bank has already started to work to formulate FY2...

Indonesia's forex reserves reach $131.7b in June

Indonesia's forex reserves reach $131.7b in June

-- 2020-07-07 14:59:12

Indonesia's central bank recorded foreign exchange (forex) reserves at 131.7 billion US dollars at the end of June, an increase compared to 130.5 billion dollars at the end of May. "The increase in f...

Currency crisis impoverishes Iranians, strains economic defences

Currency crisis impoverishes Iranians, strains economic defences

REUTERS 2020-07-07 14:01:09

Desperate to afford her daughter’s overseas university fees, 58-year-old retired Iranian teacher Maryam Hosseini withdrew all her savings from the bank to buy US dollars. It was not enough. Wit...

BR executes 57pc of ADP in FY '20

BR executes 57pc of ADP in FY '20

MUNIMA SULTANA 2020-07-07 09:43:59

Bangladesh Railway (BR) has implemented only 57.39 per cent of the Annual Development Programme (ADB) in the just concluded fiscal year (FY 2019-20). It could spend only Tk 58.82 billion till June th...

Virus severely affects S Asian livelihoods

Virus severely affects S Asian livelihoods

FE Report 2020-07-07 09:38:24

The new coronavirus pandemic in South Asia has severely affected livelihoods of over 1.7 billion people, according to the Global Food Policy Report (GFPR) 2020. It said the disruptions to supply chai...

China requests BD to ensure virus-free food export

China requests BD to ensure virus-free food export

REZAUL KARIM 2020-07-07 09:34:55

China has requested Bangladesh to take adequate safety measures for ensuring that the food items being exported from Bangladesh to China remains free from contamination of coronavirus, officials said....

Tax receipt posts negative growth

Tax receipt posts negative growth

Doulot Akter Mala 2020-07-07 09:23:11

Tax collection fell into negative territory in the just-concluded fiscal year due to, what officials described, economic disruptions caused by the Covid-19 pandemic. Tax receipt by the National Board...

PM suggests using forex reserve to finance development projects

PM suggests using forex reserve to finance development projects

-- 2020-07-06 23:11:14

Prime Minister Sheikh Hasina directed the authorities concerned to explore ways to channel funds from the country’s record-high foreign exchange reserves in the form of credit to finance the dev...

Boro farmers report 40pc deficit between actual and expected profit

Boro farmers report 40pc deficit between actual and expected profit

-- 2020-07-06 22:29:44

Farmers who cultivated Boro paddy this year reported a 40 per cent deficit on average between their actual and projected profit amid COVID-19 pandemic, according to a survey. The Brac Institute of Go...

Three highways set to be overhauled in current fiscal

Three highways set to be overhauled in current fiscal

-- 2020-07-06 18:40:55

Three highways will be upgraded into four-lane ones in the current fiscal (FY21) aiming to improve the national transport system and infrastructures for better road communications across the country....

Inflation up in June

Inflation up in June

FE Online Report 2020-07-06 16:52:57

The point-to-point inflation rate in last month June increased by 0.67 percentage points to 6.02 per cent due to significant rise of the food inflation, official data showed. In May, the rate of infl...

Vietnam's garment exports decline 15.5pc in H1

Vietnam's garment exports decline 15.5pc in H1

-- 2020-07-06 16:14:57

Vietnam's total textile and garment export value in the first half of this year declined by 15.5 per cent year-on-year to nearly 12.8 billion US dollars, according to the country's General Statistic...

New container line opens between Ctg, Kolkata ports

New container line opens between Ctg, Kolkata ports

FE REPORT 2020-07-06 09:48:59

A new container line has started operating between Chattogram and Kolkata seaports in a significant move to boost Indo-Bangladesh trade. The vessel,Harmann Schepper, left the Ctgport on Thursday la...

Stakeholders divided on PPP-run jute mills

Stakeholders divided on PPP-run jute mills

-- 2020-07-05 16:26:56

The government's plans to revitalise the flagging jute sector through public-private partnerships have been met with scepticism from stakeholders in the industry. It came after the government announc...