Search results for: economy

ADP slowdown annoys govt, faster pace ordered

FHM HUMAYAN KABIR 2022-12-14 08:53:20

Annual Development Programme (ADP) slowdown annoys the government and prompts it to direct top ministries to expedite project execution, officials said Tuesday. During the July-October period of th...

China readying $143b package for its semiconductor industry

-- 2022-12-13 18:40:11

China is working on a more than 1.0 trillion yuan ($143 billion) support package for its semiconductor industry, three sources said, in a major step towards self-sufficiency in chips and to counter US...

Bangladesh seeks Saudi support to meet energy demand

-- 2022-12-13 16:43:55

State Minister for foreign affairs Md Shahriar Alam has said Bangladesh needs "brotherly support" from Saudi Arabia to fulfil its energy demands amid the global oil crisis due to the Russia-Ukraine wa...

Moody’s to review 7 Bangladeshi banks for downgrade

FE ONLINE DESK 2022-12-13 14:50:52

Credit rating agency Moody’s Investors Service has placed the long-term ratings for seven Bangladeshi banks on review for downgrade following its decision to review Bangladesh’s long...

Italy takes up $3m project for BD workers’ migration management

FE REPORT 2022-12-13 08:54:18

Italy has adopted a cooperation project to extend supports to strengthen migration management for Bangladeshi migrant workers. The contribution amounting to US $3.0 million will focus on ensuring saf...

IMF says global debt well above pre-pandemic levels despite steep 2021 drop

-- 2022-12-12 22:58:48

Global public and private debt saw its biggest drop in 70 years in 2021 after reaching record highs because of the impacts of COVID-19, but overall remained well above pre-pandemic levels, the Interna...

FBCCI for increasing manpower export to Romania

-- 2022-12-12 20:25:30

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) is looking for opportunities to increase the export of manpower as well as readymade garments, textile, leather, plastic, and pha...

UAE keen to increase engagement with Bangladesh

-- 2022-12-12 15:42:34

The United Arab Emirates (UAE) has sought cooperation from the Bangladesh government for the operation of Abu Dhabi-based Wizz Air flights between Abu Dhabi and Dhaka/Chittagong as a low-cost airline....

US inflation will be much lower by end of 2023, Yellen says

REUTERS 2022-12-12 10:46:39

US Treasury Secretary Janet Yellen on Sunday forecast a substantial reduction in US inflation in 2023, barring an unexpected shock. "I believe by the end of next year you will see much lower inflatio...

KFD, ADFD may lend $73m to build Chunkuri Bridge

FHM HUMAYAN KABIR 2022-12-11 08:48:49

Two Middle-eastern development partners are likely to provide US$73 million in loans to facilitate a major bridge construction in Bangladesh's southern region, officials said on Saturday. The Kuwait...

IMF mission lauded Bangladesh’s achievements during recent visit: Finance minister

-- 2022-12-10 20:24:45

Finance Minister AHM Mustafa Kamal on Saturday said the International Monetary Fund (IMF) lauded highly the achievements of Bangladesh terming it as "extraordinary". "Few weeks back, an IMF mission v...

Export of headgears, caps: BD bags $193.43m, posts 50pc growth in Jul-Nov

FHM HUMAYAN KABIR 2022-12-10 08:45:14

Bangladesh has emerged as one of the key suppliers of hats and caps in the global market. Its shipment of these products reached US$ 193.43 million in the first five months of the current fiscal yea...

NBR to observe VAT Day on Saturday

-- 2022-12-09 18:58:37

The National VAT (value added tax) Day will be observed on Saturday while the National VAT Week on December 10 to 15 across the country in a befitting manner. The National Board of Revenue (NBR) has...

'The worst is yet to come': the curse of high inflation

-- 2022-12-09 11:55:16

Globally, people are experiencing inflation at levels not seen for decades as prices surge for essentials like food, heating, transport and accommodation. And though a peak could be in sight, the effe...

Germany to provide €33m to Bangladesh

-- 2022-12-08 18:19:40

The governments of Bangladesh and Germany have signed two agreements under which the European country would provide 33 million Euros to Bangladesh as grants in renewable energy and climate change adap...

Bangladesh mandates ADB to advise on $400m expressway connecting 10 economic zones

-- 2022-12-08 16:58:59

The Asian Development Bank’s Office of Public–Private Partnership (OPPP) has been mandated to provide transaction advice on Joydebpur-Mymensingh Road PPP project to be built along one of t...

Elon Musk loses title of world's richest man to LVMH's Arnault: Forbes

FE ONLINE DESK 2022-12-08 08:28:17

Twitter owner and Tesla Inc boss Elon Musk lost his title as the world's richest person on Wednesday, according to Forbes, following his expensive bets to buy the social media firm and selling...

BB sets up Tk 50b refinance scheme

FE REPORT 2022-12-08 08:09:35

Bangladesh Bank (BB) on Wednesday announced a new refinancing scheme worth Tk50 billion to promote green industry in the export and productive sectors. Under the scheme, the green entrepreneurs will...

Bangladesh eyes $10b exports in leather goods in 2030

-- 2022-12-07 20:37:06

Commerce Minister Tipu Munshi has said the government eyes US$10 billion in exports of leather and leather goods in 2030. "Bangladesh's potential export product is leather. There is a lot of scope fo...

Planning minister hopeful of achieving cent percent ADP implementation rate

-- 2022-12-07 19:50:19

Planning Minister MA Mannan has expressed his optimism about achieving cent per cent implementation rate in the Annual Development Programme (ADP) of the current fiscal year (FY23) despite the impacts...

BB disburses Tk 40b as liquidity support to five Islami banks 

-- 2022-12-07 18:27:36

Bangladesh Bank has disbursed Tk 40.0 billion as liquidity support to five Islami banks to meet the ongoing liquidity crisis, sources in the central bank said.  Five Islami banks had earlier app...

UNESCO calls nomination for Bangabandhu international prize by Dec 10

-- 2022-12-07 18:21:47

UNESCO has made a second call asking to submit nominations for the 2023 NESCO-Bangladesh Bangabandhu Sheikh Mujibur Rahman International Prize for the Creative Economy by December 10, according to BSS...

Bangladesh Bank tightens rules for banks' car purchase

-- 2022-12-07 17:48:25

Bangladesh Bank (BB) has tightened the rules for banks' car purchases for avoiding high-value expenses and purchases of luxurious cars with a view to cutting operating expenses.  "Banks would be...

Bangladesh seeks zero tariff on apparel exports to US at 6th TICFA meeting

FE ONLINE DESK 2022-12-07 13:00:08

Bangladesh has proposed zero tariff on finished apparel products — made with American cotton — being exported to the US. Bangladesh made the proposal at the 6th meeting of the US-Banglade...

Russia, mired in war, faces economic pain and attempts to isolate it

FE ONLINE DESK 2022-12-07 09:43:46

Russia's invasion of Ukraine plunged Europe into its biggest land war since World War Two, igniting a conflict that has killed thousands, displaced millions, pulverised Ukrai...

Monetary policy twice a year, says BB governor 

-- 2022-12-06 21:05:09

Bangladesh Bank (BB) has again decided to formulate monetary policy twice a year as per the advice of the International Monetary Fund (IMF).  The central bank in a meeting with economists on Mon...

Bangladesh signs $200m loan deal with ADB to strengthen microfinance

-- 2022-12-06 17:00:53

The government of Bangladesh and the Asian Development Bank (ADB) on Tuesday signed an agreement for $200 million in loans to strengthen microfinance in Bangladesh. The deal would also support microe...

World Bank sees India's growth at 6.9pc this year

REUTERS 2022-12-06 14:11:28

India's economy is expected to grow 6.9 per cent in the current fiscal year, the World Bank said on Tuesday, adding that it is well positioned to tackle global headwinds. Asia fourth-largest economy...

Bangladesh now a most ideal place for investment: PM

FE ONLINE DESK 2022-12-06 12:35:30

Prime Minister Sheikh Hasina today (Dec 6, 2022) called Bangladesh as the most ideal place for investment in the world, seeking larger foreign and local investment for mutual benefit. "Bangladesh...

PM opens operation of Japanese Economic Zone

FE ONLINE DESK 2022-12-06 12:33:35

Prime Minister Sheikh Hasina today (Dec 6, 2022) inaugurated the operation of the Japanese Economic Zone in Bangladesh Special Economic Zone (BSEZ) at Araihazar in Narayanganj district on th...