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Search results for: economy

Turkey struggles to push Russia, Ukraine into grain deal to ease food crisis

Turkey struggles to push Russia, Ukraine into grain deal to ease food crisis

-- 2022-06-08 23:21:48

Turkish efforts to ease a global food crisis by negotiating safe passage for grain stuck in Black Sea ports met resistance as Ukraine said Russia was imposing unreasonable conditions and the Kremlin s...

Russia's economic slump will wipe out 15 years of gains, says global banking group

Russia's economic slump will wipe out 15 years of gains, says global banking group

-- 2022-06-08 22:18:46

Russia's economy will shrink 15 per cent this year and 3 per cent in 2023 as the hit from Western sanctions, an exodus of companies, a Russian "brain-drain" and collapse in exports wipe out 15 years o...

Bangladesh starts collecting extra $1.5b as budgetary support, says PM

Bangladesh starts collecting extra $1.5b as budgetary support, says PM

-- 2022-06-08 19:13:41

The government has started a process to collect an additional $1.5 billion as budgetary support to tackle future emergencies and economic crises due to the Russia-Ukraine war and the Covid-19 pandemic...

Kamal likely to place Tk 6.78 trillion budget for FY23 Thursday

Kamal likely to place Tk 6.78 trillion budget for FY23 Thursday

-- 2022-06-08 15:53:28

Finance Minister AHM Mustafa Kamal is likely to place a Tk 6.78 trillion budget for the next fiscal year (FY23) at Jatiya Sangsad (JS) on Thursday (tomorrow) with the major challenge of reining inflat...

Finland keen to support Bangladesh’s sustainable development

Finland keen to support Bangladesh’s sustainable development

-- 2022-06-08 15:27:57

Finland is keen to cooperate with Bangladesh in the field of sustainable and renewable energy, said Finnish non-resident ambassador to Bangladesh Ritva Koukku-Ronde on Wednesday. The envoy, who resid...

India raises rates for second straight month to tackle racing inflation

India raises rates for second straight month to tackle racing inflation

REUTERS 2022-06-08 12:45:31

The Reserve Bank of India's key interest rate was raised by 50 basis points on Wednesday as widely expected, the second hike in as many months, in a bid to cool persistently high inflation in Asia's...

'Controlling inflation important during post-Covid recovery'

'Controlling inflation important during post-Covid recovery'

FE REPORT 2022-06-08 11:11:20

The Brac University Economics Club (BUEC) organised a technical workshop on national budget featuring Dr Zahid Hussain, the former Lead Economist at the World Bank, recently to give an overview of fis...

Defaulted loans: NBFIs asked not to write off until settlement

Defaulted loans: NBFIs asked not to write off until settlement

FE REPORT 2022-06-08 08:56:56

The central bank asks non-banking financial institutions (NBFIs) not to write off the defaulted loans swindled by scammers until the settlement of legal disputes, officials say. All the NBFIs have be...

Consumption squeezes under price pressures

Consumption squeezes under price pressures

DOULOT AKTER MALA 2022-06-08 08:43:15

Consumption pattern of middle-to lower-income groups has changed significantly under the squeezing impacts of constant economic challenges that force them to trim basic living costs, analysts say. Th...

Challenges lie in cutting inflation-fuelled woes

Challenges lie in cutting inflation-fuelled woes

FE REPORT 2022-06-08 08:33:35

An estimated Tk 6.78 trillion worth of expansionary budget is coming tomorrow (Thursday) with government sights set on higher targets, amid soaring prices and inflationary pressures on the economy....

IMF urges countries to avoid blanket subsidies as food, fuel prices soar

IMF urges countries to avoid blanket subsidies as food, fuel prices soar

-- 2022-06-07 23:05:50

The International Monetary Fund (IMF) said on Tuesday governments fighting soaring food and fuel prices should target aid to vulnerable citizens rather than issue across-the-board aid that risked addi...

Rouble weakens as Russia slightly eases capital controls

Rouble weakens as Russia slightly eases capital controls

-- 2022-06-07 22:28:57

The Russian rouble gave up gains to weaken on Tuesday, edging away from 61 to the dollar as the finance ministry slightly eased capital controls and investor focus turned to an expected central bank r...

World Bank slashes global growth forecast to 2.9pc

World Bank slashes global growth forecast to 2.9pc

-- 2022-06-07 20:31:15

The World Bank on Tuesday slashed its global growth forecast by 1.2 percentage points to 2.9 per cent for 2022, warning that Russia's invasion of Ukraine has compounded the damage from the COVID-19 pa...

Taka depreciates further by 5.0 paisa against USD

Taka depreciates further by 5.0 paisa against USD

FE ONLINE REPORT 2022-06-07 19:00:02

The local currency depreciated further on Tuesday against the US dollar mainly due to higher demand for the greenback for settling import-payment obligations. Bangladesh Taka (BDT) lost its value by...

Finance minister set to unveil Tk 6.80t national budget for FY23 on Thursday

Finance minister set to unveil Tk 6.80t national budget for FY23 on Thursday

-- 2022-06-07 16:47:37

Finance Minister AHM Mustafa Kamal is set to place the national budget of Tk 6.80 trillion at the Jatiya Sangsad for 2022-2023 fiscal year (FY23) on Thursday. The size of the budget will be about 15...

SANEM’s Selim Raihan wants govt to rethink mega projects

SANEM’s Selim Raihan wants govt to rethink mega projects

-- 2022-06-07 12:08:13

Dr Selim Raihan, the executive director of the South Asian Network on Economic Modeling, or SANEM, an economic think tank, has sought clear guidelines from the national budget to recover from the ongo...

Cut out-of-pocket health cost, speakers tell pre-budget dialogue

Cut out-of-pocket health cost, speakers tell pre-budget dialogue

FE REPORT 2022-06-07 09:30:16

Health sector allocations in the national budget must aim to reduce the share of out-of-pocket expenditure in the total health expenditure, said speakers at a pre-budget dialogue on Monday. Highlight...

One USD now costs Tk 91.95

One USD now costs Tk 91.95

FE ONLINE REPORT 2022-06-06 20:07:54

The local currency depreciated further significantly on Monday against the US dollar (USD) mainly due to higher demand for the greenback for settling import-payment obligations. Bangladesh Taka (BDT)...

'Out-of-pocket health expenditure must be reduced'

'Out-of-pocket health expenditure must be reduced'

FE ONLINE DESK 2022-06-06 17:48:49

Speakers at a pre-budget dialogue organised by Bangladesh Health Watch and Unnayan Shamannay have said health sector allocations in the national budget must aim to reduce the share of out-of-pocket ex...

BDT weakens further against USD

BDT weakens further against USD

FE ONLINE REPORT 2022-06-06 17:46:26

The exchange rate of the Bangladesh Taka (BDT) has again depreciated, by Tk 1.60, against the US dollar mainly due to higher demand for the greenback for settling import-payment obligations. The loca...

After India’s wheat export ban, panicked traders step up rice purchases

After India’s wheat export ban, panicked traders step up rice purchases

-- 2022-06-06 16:22:36

India's surprise ban on wheat exports has prompted rice traders to increase purchases and place unusual orders for longer-dated deliveries, fearing the world's top rice exporter may restrict those shi...

Economist Zahid Hussain suggests a shift from conventional deficit budget

Economist Zahid Hussain suggests a shift from conventional deficit budget

-- 2022-06-06 11:08:37

Economist Dr Zahid Hussain has suggested the government design an employment-friendly budget by keeping inflation in check and ensuring food security amid increasing import spending triggered by a ris...

Actual inflation higher than official figures, CPD economic review observes

Actual inflation higher than official figures, CPD economic review observes

FE REPORT 2022-06-06 08:46:06

Local think tank Centre for Policy Dialogue (CPD) on Sunday said the actual rate of inflation or price surge in the market would be much higher than the official figures. It said the official statist...

VAT from retail outlets rises 10 times on EFD use

VAT from retail outlets rises 10 times on EFD use

FE REPORT 2022-06-06 08:16:31

The collection of value added tax (VAT) from retail outlets has increased ten times in general after the shops have started issuing Electronic Fiscal Device (EFD) generated invoices. Top officials of...

Default debt increases to Tk 1.1344 trillion by third quarter of FY22

Default debt increases to Tk 1.1344 trillion by third quarter of FY22

-- 2022-06-05 20:53:23

The size of defaulted debt in Bangladesh has increased to Tk 1.1344 trillion by the third quarter of the current fiscal (FY 2021-22), a Tk 101.67 billion jump alone from the second quarter. Confirmin...

Inflationary pressure may affect sustainable pandemic recovery, says CPD

Inflationary pressure may affect sustainable pandemic recovery, says CPD

-- 2022-06-05 19:22:48

In the national budget for the next fiscal year, fiscal measures relating to the external sector should focus on addressing the adverse impacts of imported inflation, according to the Centre for Polic...

BGMEA urges EU to continue duty-free facilities after LDC graduation

BGMEA urges EU to continue duty-free facilities after LDC graduation

-- 2022-06-05 18:37:07

Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has urged the European Union (EU) to continue GSP facilities for 10 to 12 years more after the country's graduation to a developing n...

Minister for gradual cut in agri subsidy

Minister for gradual cut in agri subsidy

FE REPORT 2022-06-05 08:30:47

Planning Minister MA Mannan on Saturday suggested slashing gradually the subsidies on agriculture despite massive price hike of the inputs in the international markets. "In recent years, the economic...

Focus on inflation, safety net

Focus on inflation, safety net

FE REPORT 2022-06-05 08:23:07

Budget focus should be on taming inflation, extending social- safety net and introducing ration cards for crisis-hit poor and low-income people rather than concentrating on growth only. Economists an...

Energy regulator to announce new gas price for consumers on Sunday

Energy regulator to announce new gas price for consumers on Sunday

FE ONLINE DESK 2022-06-04 19:51:09

Bangladesh Energy Regulatory Commission (BERC) is going to announce a new price of natural gas at the consumer level on Sunday. BERC chairman Abdul Jalil is expected to hold a virtual press conferenc...