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The Financial Express

Search results for: economy

UK announces cash support for low-income households

UK announces cash support for low-income households

-- 2023-01-03 09:57:18

Millions of low-income households in Britain will receive cost-of-living support from the government of up to 900 pounds ($1,084) over the financial year, the country's Department of Work and Pensions...

External debt falls in Q1

External debt falls in Q1

JUBAIR HASAN 2023-01-03 08:56:02

Following an upward trend, Bangladesh's external debt declined to some extent in the first quarter (Q1) of the current fiscal year (FY 2022-23) thanks to lower public borrowings due to stalled less-...

Tk 41b collected as income tax, 2.85m returns submitted

Tk 41b collected as income tax, 2.85m returns submitted

-- 2023-01-02 21:41:22

Some 2.85 million individual taxpayers submitted their returns in the current fiscal year 2022-23 where the National Board of Revenue (NBR) collected Tk 41.0 billion as income tax. Submission of inco...

Year ends with average inflation of 7.70 pc

Year ends with average inflation of 7.70 pc

FE ONLINE REPORT 2023-01-02 19:39:12

Though the monthly rate of inflation eased in December last, the just concluded year was marked by a higher rate of inflation of 7.70 per cent on average, compared to 5.54 per cent in 2021. Banglades...

Trade gap reduced in July-November

Trade gap reduced in July-November

FE ONLINE REPORT 2023-01-02 19:13:54

The country’s goods trade deficit with the rest of the world reduced slightly in the first five months of the current fiscal year (FY23). The latest balance of payments (BoP) statistics, releas...

BB creates TK 100 billion export facilitation fund

BB creates TK 100 billion export facilitation fund

-- 2023-01-02 18:27:41

Bangladesh Bank (BB) has created an export facilitation fund of Tk 100 billion to support export-oriented firms. Under the fund, an exporter will be allowed to take a loan of a maximum of Tk 2.0 bill...

Syria weakens official exchange rate

Syria weakens official exchange rate

-- 2023-01-02 17:44:26

Syria weakened its official exchange rate to 4,522 Syrian pounds to the dollar, a central bank statement said on Monday, while black market rates used for most economic activity sat around 6,500. The...

December exports rise to record $5.37 billion

December exports rise to record $5.37 billion

-- 2023-01-02 17:01:30

Bangladesh’s exports rose 9.33 per cent year-on-year to a record high of $5.37 billion in December last year, surpassing the previous monthly peak in November. The country exported goods worth...

India's Supreme Court upholds legality of 2016 demonetisation

India's Supreme Court upholds legality of 2016 demonetisation

-- 2023-01-02 15:27:26

India's Supreme Court on Monday upheld the legality of the government decision in 2016 to demonetise 86 per cent of the country's cash in circulation, saying the decision was taken in consultation wit...

India's factories ended 2022 on a strong note

India's factories ended 2022 on a strong note

-- 2023-01-02 14:55:52

India's manufacturing industry ended 2022 on a solid footing as business conditions improved at the fastest rate in over two years while growth in new orders and output accelerated, a business survey...

Britain opens nuclear fuel fund with aim to cut reliance on Russia

Britain opens nuclear fuel fund with aim to cut reliance on Russia

-- 2023-01-02 14:27:08

Britain said on Monday its 75-million-pound ($90.5 million) fund aimed at helping boost domestic production of nuclear fuel for power plants and cutting reliance on Russian uranium supplies was now op...

Global economy faces tougher year in 2023, IMF's Georgieva warns

Global economy faces tougher year in 2023, IMF's Georgieva warns

FE ONLINE DESK 2023-01-02 10:00:21

For much of the global economy, 2023 is going to be a tough year as the main engines of global growth - the United States, Europe and China - all experience weakening activity, t...

A Tk 100b bet for boosting exports, forex earnings

A Tk 100b bet for boosting exports, forex earnings

FE REPORT 2023-01-02 08:41:13

A Tk100-billion bet is offered for boosting export and foreign-exchange earning as the central bank forms an export pre-finance scheme with the revolving fund under government drive for propping up...

Remittance inflow increases by 4.23pc in December

Remittance inflow increases by 4.23pc in December

-- 2023-01-01 19:46:27

Expatriate Bangladeshis sent US$ 1.7 billion through the banking channel in December last year, which was 4.23 per cent higher than the corresponding month of the previous year, according to Banglades...

64pc TIN holders fail to submit returns within extended deadline

64pc TIN holders fail to submit returns within extended deadline

-- 2023-01-01 19:19:58

Though the government has made mandatory the submission of tax returns to get more than 40 services, the response remained poor. The National Board of Revenue (NBR) extended time twice for return sub...

Mega projects in 2022: After two opened, sight set on more in 2023

Mega projects in 2022: After two opened, sight set on more in 2023

FHM Humayan Kabir 2023-01-01 08:54:40

Bangladesh witnessed successful completion of two mega projects -- Padma Bridge and metro rail -- in the just concluded year of 2022, marking a massive development in the country's communications netw...

Welcome 2023, the annus mirabilis

Welcome 2023, the annus mirabilis

JASIM UDDIN HAROON AND DOULAT AKTER MALA 2023-01-01 08:48:23

Welcome 2023 AD, the year that is preceded by one of the most difficult periods in history. People are pinning high hopes on the New Year, expecting an economic turnaround. It is expected that a to...

Banks bag operating profits in bygone year

Banks bag operating profits in bygone year

JASIM UDDIN HAROON and JUBAIR HASAN 2023-01-01 08:44:34

A number of commercial banks posted EBIT or operating profits in the adversity-fraught bygone year, in a significant growth amidst a series of loan-related scams in the country's banking system. EB...

US federal reverse repo facility hits record $2.554 trillion

US federal reverse repo facility hits record $2.554 trillion

-- 2022-12-31 19:07:20

A key facility the US Federal Reserve uses to help control short-term interest rates saw record inflows on Friday, the final trading day of the year. The New York Fed said that its reverse repo facil...

Macroeconomic health needs healing doses

Macroeconomic health needs healing doses

FHM Humayan Kabir 2022-12-31 09:01:41

Bangladesh's macro-economy got into tribulation in the second half (H2) of the outgoing calendar year mainly under massive inflationary pressure and steep dollar appreciation amid higher import paymen...

Revenue collection grows 14pc

Revenue collection grows 14pc

DOULOT AKTER MALA 2022-12-31 08:58:36

Domestic revenue mobilisation posted more than 14-percent growth in the outgoing year 2022 amid inflation-fuelled economic slowdown and erosion of real income. Despite disrupted supply chain for the...

Adieu annus horribilis, hail 2023

Adieu annus horribilis, hail 2023

JASIM UDDIN HAROON 2022-12-31 08:55:15

A silver lining seems on the horizon as Bangladesh joins humanity to bid farewell to 2022 at sundown today with bitter feelings as price spirals following supply crunch and dollar spikes battered li...

Indian rupee ends 2022 as worst-performing currency in Asia

Indian rupee ends 2022 as worst-performing currency in Asia

-- 2022-12-30 17:42:02

The Indian rupee ended 2022 as the worst-performing Asian currency with a fall of 11.3 per cent, its biggest annual decline since 2013, as the dollar rocketed on the US Federal Reserve's aggressive mo...

India’s current account gap widens to nine-year high

India’s current account gap widens to nine-year high

-- 2022-12-30 16:57:10

India's current account deficit widened in the July-September quarter as high commodity prices and a weak rupee increased the country's trade gap, data from the Reserve Bank of India (RBI) showed on T...

Biden signs $1.7 trillion spending bill as Americans fight inflation

Biden signs $1.7 trillion spending bill as Americans fight inflation

-- 2022-12-30 16:07:13

US President Joe Biden has signed a 1.7 trillion-US-dollar spending bill for the federal government. The legislation will keep the federal government operating through the end of the federal budget y...

China's factory activity likely cooled in December on Covid surge

China's factory activity likely cooled in December on Covid surge

-- 2022-12-30 13:08:29

China's factory activity is expected to have extended declines in December, a Reuters poll showed on Friday, as the end of the country's "zero-Covid" policy and rising infections began to affect produ...

HIES survey report to be out by Mar: Official

HIES survey report to be out by Mar: Official

FE REPORT 2022-12-30 09:14:33

The Household Income and Expenditure Survey (HIES) report will be published by March next year as the Bangladesh Bureau of Statistics (BBS) is going to complete its year-long data collection on Saturd...

Inward remittance to decline 3.17pc

Inward remittance to decline 3.17pc

FE REPORT 2022-12-30 09:07:29

The country's inward remittance is expected to decline 3.17 per cent in the outgoing calendar year, due to factors including sending money through unofficial channels, revealed a new report on Thursda...

Pakistan forex reserves fall by $294 million

Pakistan forex reserves fall by $294 million

-- 2022-12-29 21:01:42

The State Bank of Pakistan (SBP) announced that its foreign exchange reserves had decreased by 294 million US dollars. During the week ending on Dec. 23, the total foreign exchange reserves of the Pa...

Momen for reducing foreign aid dependency by strengthening income tax wing

Momen for reducing foreign aid dependency by strengthening income tax wing

-- 2022-12-29 20:33:42

Foreign Minister Dr AK Abdul Momen has put emphasis on strengthening the country's income tax wing to lessen the dependence on foreign aid. "The government can implement mega projects as the people o...