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The Financial Express

Search results for: economy

Padma Bridge fund cut proposed

Padma Bridge fund cut proposed

FHM HUMAYAN KABIR 2022-02-03 08:32:01

The Bridges Division has sought Tk 10 billion lower funds than its allocation in the current development budget for the Padma Bridge project following less utilisation, officials say. It has sought T...

IFAD to increase investment in Bangladesh, finance minister hopes

IFAD to increase investment in Bangladesh, finance minister hopes

-- 2022-02-02 19:39:26

Finance Minister AHM Mustafa Kamal has expressed his hope that the International Fund for Agricultural Development (IFAD) would increase investment in Bangladesh to implement the 8th Five Year Plan, S...

Bangladesh's export earnings grow 41pc in January

Bangladesh's export earnings grow 41pc in January

FE ONLINE REPORT 2022-02-02 17:32:42

The single-month export earnings in January this calendar year recorded over 41 per cent growth to 4.85 billion US dollars year-on-year riding on the readymade garment (RMG) amid the pandemic. Bangla...

Bangladesh receives $11.95b remittance in seven months

Bangladesh receives $11.95b remittance in seven months

-- 2022-02-01 22:01:42

Bangladesh received $1704.45 million in remittances in January 2022, which is $73.79 million more than in December 2021. The Bangladesh Bank (BB) released the latest remittance update of inward remit...

India unveils budget aiming to beef up economic growth

India unveils budget aiming to beef up economic growth

-- 2022-02-01 17:46:25

India on Tuesday unveiled a growth-oriented budget aimed at boosting infrastructure like highways, cargo terminals and airports, and proffering its credit guarantee scheme to small firms to help them...

Benapole port earns Tk 24.36b revenue in current fiscal

Benapole port earns Tk 24.36b revenue in current fiscal

-- 2022-02-01 17:43:05

Benapole Customs House has recorded a 29.78 per cent growth in revenue earning in the first seven months of FY2021-2022, up from 19.48 per cent during the corresponding period last year despite Covid-...

Indian central bank to issue digital rupee

Indian central bank to issue digital rupee

-- 2022-02-01 16:38:52

The Reserve Bank of India (RBI) will issue a new digital rupee powered by blockchain technology starting fiscal 2022-23, Finance Minister Nirmala Sitharaman said during the Union Budget 2022 on Tuesda...

India's budget likely to spur spending to prop up economic growth

India's budget likely to spur spending to prop up economic growth

-- 2022-02-01 13:37:16

India is likely to step up spending on infrastructure, health services and social programmes in its annual budget on Tuesday, to try to set the economy on a firmer footing as it fights a spike in COVI...

‘Export target of $51b attainable through product diversification’

‘Export target of $51b attainable through product diversification’

-- 2022-01-31 19:14:36

Commerce Minister Tipu Munshi on Monday said the country can attain the export target of $51 billion by making quality products and their diversification. He said it while addressing the closing cere...

India’s GDP growth likely to slow down to 8.0-8.5pc in 2022/23

India’s GDP growth likely to slow down to 8.0-8.5pc in 2022/23

-- 2022-01-31 17:31:26

India has forecast its economy will grow 8.0 per cent to 8.5 per cent for the fiscal year starting in April, down from 9.2 per cent projected in the current year, as it fights a spike in Covid-19 case...

Australia keen to strengthen cooperation with Bangladesh

Australia keen to strengthen cooperation with Bangladesh

-- 2022-01-31 17:16:38

Australian Prime Minister Scott Morrison has said his country looks forward to strengthening defence and economic cooperation with Bangladesh, greeting its government marking the 50-year Australia-Ban...

Kamal confident of addressing inequalities by 2030, charging high taxes on high earners

Kamal confident of addressing inequalities by 2030, charging high taxes on high earners

FE REPORT 2022-01-31 09:12:11

Finance Minister AHM Mustafa Kamal paints a rosy outlook of Bangladesh economy till 2030 with per-capita income rising to USD 3,089 and income inequality effectively addressed. He pins hopes on the p...

SME Foundation disbursed Tk 3.0b to CMSME entrepreneurs so far

SME Foundation disbursed Tk 3.0b to CMSME entrepreneurs so far

FE ONLINE REPORT 2022-01-30 19:23:54

SME Foundation has so far disbursed credit worth Tk 3.0 billion among 3,106 entrepreneurs under the government' stimulus package, aiming to help them sustain their ventures amid the pandemic. Entrepr...

CPD stresses safe working conditions for sustainable development

CPD stresses safe working conditions for sustainable development

FE ONLINE DESK 2022-01-30 18:44:01

As the country is moving forward to expedite economic growth and is getting more integrated with the global market, it is also bringing challenges along which includes the need to adhere to internat...

Finance minister hopeful of achieving 7.2pc GDP growth

Finance minister hopeful of achieving 7.2pc GDP growth

-- 2022-01-30 17:24:14

Finance Minister AHM Mustafa Kamal on Sunday expressed optimism of achieving targeted 7.2 per cent GDP growth in the current fiscal year (FY22). The minister expressed the optimism after a meeting of...

Malaysian firms facing US bans over forced labour practices

Malaysian firms facing US bans over forced labour practices

-- 2022-01-30 16:17:20

The Human Resources Ministry of Malaysia has said that it would call in all companies facing US import bans over suspected forced labour practices to discuss immediate action to address the allegation...

China's January service sector activity growth slows

China's January service sector activity growth slows

-- 2022-01-30 10:20:49

Activity in China's services sector grew at a slower pace in January, official data showed on Sunday, as China battles a resurgence of COVID-19 outbreaks that are hitting consumer confidence, Reuters...

Debt buildup weighs on Bangladesh economy

Debt buildup weighs on Bangladesh economy

JASIM UDDIN HAROON 2022-01-30 08:37:09

Bangladesh's external-debt stock ratcheted up by over $10.0 billion in a year to US$67.75 billion in 2020, and as much might have been added up in 2021. The nearly 19-per cent debt buildup for Bangla...

NBR seeks budget proposals from trade bodies, professionals

NBR seeks budget proposals from trade bodies, professionals

-- 2022-01-29 22:21:03

The National Board of Revenue (NBR) has sought proposals on income tax; value added tax (VAT) and import duty for preparation of the budget for the fiscal year of 2022-23. The revenue board asked for...

Government expenditure as fertiliser subsidy quadruples in FY22

Government expenditure as fertiliser subsidy quadruples in FY22

FE ONLINE REPORT 2022-01-29 17:32:43

The government expenditure as fertiliser subsidy will fuel up by nearly by four times to Tk 280 billion this financial year (FY22), amid an unusual hike in the prices of the inputs in the global marke...

Argentina strikes breakthrough deal with IMF in $45b debt talks

Argentina strikes breakthrough deal with IMF in $45b debt talks

-- 2022-01-29 10:20:51

Argentina has struck an agreement in principle with the International Monetary Fund over a new $44.5 billion standby deal, both sides said on Friday, a major breakthrough in tense talks to restructure...

High inflation to haunt global economy this year: Reuters poll

High inflation to haunt global economy this year: Reuters poll

-- 2022-01-28 18:43:37

Persistently high inflation will haunt the world economy this year, according to a Reuters poll of economists who trimmed their global growth outlook on worries of slowing demand and the risk interest...

Pakistan passes law for central bank autonomy

Pakistan passes law for central bank autonomy

-- 2022-01-28 18:01:12

Pakistan's upper house of parliament put the seal on Friday on a law backed by the International Monetary Fund (IMF) to give the State Bank of Pakistan (SBP), the central bank of the country, more ind...

American banks look forward to 'bread-and-butter' growth

American banks look forward to 'bread-and-butter' growth

-- 2022-01-28 09:05:49

US banks will enjoy stronger growth this year from their "bread-and-butter" business of taking deposits and lending money as the US economy expands and the Federal Reserve prepares to raise interest r...

Japanese Economic Zone to go into production next year

Japanese Economic Zone to go into production next year

-- 2022-01-27 20:43:26

Japanese Ambassador to Bangladesh Ito Naoki has said factories in Araihazar Economic zone, dedicated for Japanese entrepreneurs, will start production in 2023. Ito Naoki shared this information with...

Govt clears way for Bangladeshi companies to make overseas equity investment

Govt clears way for Bangladeshi companies to make overseas equity investment

-- 2022-01-27 18:34:46

The government has issued a gazette notification on capital account transaction (Overseas Equity Investment) which will permit Bangladeshi businesses to invest abroad. From now on, exporters will be...

Foreign aid pledged for Bangladesh in first half plunges 83pc

Foreign aid pledged for Bangladesh in first half plunges 83pc

FHM HUMAYAN KABIR 2022-01-27 08:54:58

The foreign aid commitment plunged by 83 per cent in the first half (H1) of the current fiscal year (FY) 2021-22, officials said on Wednesday. Foreign development partners had confirmed US$4.399 bi...

Bangladeshi companies can invest 25pc of asset offshore

Bangladeshi companies can invest 25pc of asset offshore

SYFUL ISLAM 2022-01-27 08:39:43

The government issued guidelines permitting Bangladeshi entrepreneurs to make offshore equity investment to the tune of 25 per cent of net asset of a company -- to instant welcome from businesses....

16km road building at Safari Park sees 300pc cost overrun

16km road building at Safari Park sees 300pc cost overrun

FHM HUMAYAN KABIR 2022-01-26 08:38:02

Four years have elapsed, but forest department has failed to build a 16-kilometre road at Bangabandhu Safari Park in Gazipur, resulting in a 301-per cent cost overrun. Yet, the Executive Committee...

NBR to crop National Single Window project

NBR to crop National Single Window project

FE REPORT 2022-01-26 08:30:26

The revenue board has decided to trim the Tk 5.85 billion National Single Window (NSW) project detecting its overlapping components. It has found components of NSW, one of largest projects, have alre...