World Economic

National Economic Council approves Tk 1,65,000cr revised ADP

The National Economic Council (NEC) today approved a Taka 1, 65,000 crore Revised Annual Development Programme (RADP) for the current fiscal year (FY19) keeping highest priority

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Bangladesh Bank sues Rizal Commercial Banking Corporation in New York court

Bangladesh yesterday filed a case in New York’s southern district court against the Rizal Commercial Banking Corporation (RCBC) of the Philippines over the heist of USD 81

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Reserve heist: BB files case against RCBC

Bangladesh filed a case against Rizal Commercial Banking Corporation (RCBC) of the Philippines over the heist of $81 million from Bangladesh Bank is account with the Federal

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BB monetary policy eyes hike in pvt sector credit in 2nd half of FY

Bangladesh Bank today announced the Monetary Policy for the second half of the current fiscal year with a target of 3.2 percentage point increase in private sector credit to

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$81.74b siphoned in 11 years from Bangladesh

Illicit capital outflow goes unabated as $5.9 billion (about Tk 50,000 crore) was siphoned off from Bangladesh in 2015 taking to $81.74 billion the amount siphoned off the country

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Taiwan is economy to slow in Q4 as exports falter: Reuters poll

Taiwan’s economic growth probably slowed in the fourth quarter (Q4) as the island’s technology exports were hit by softening global demand and fallout from the US-China trade

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Defective procedures led to worker unrest, says CPD

The Centre for Policy Dialogue (CPD) has identified defective procedures in the implementation of the wage structure as the main cause of the recent unrest in the garment sector.

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Bangladesh Bank order on interest rate spread largely ignored

Bangladesh Bank’s instruction to bring down the interest rate spread to 4 percentage points in banks has remained largely ignored due to rising bad loans in the country’s

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Japan to bankroll Bangladesh’s first underground railroad

Japan has agreed to provide loans for Bangladesh to build its first underground railroad. A stretch of 26.6-kilometre rail line will be constructed in Dhaka in two phases under

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Bangladesh to buy 50,000 tonnes wheat

Bangladesh's state grains buyer has issued a new international tender to purchase and import 50,000 tonnes of wheat, European traders said on Monday. Tender closing date is 3

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UN predicts 3pc global economic growth in 2019-2020

The global economy will continue to grow at a steady pace of around 3.0 per cent in 2019 and 2020 amid signs that global growth has peaked, the United Nations said Monday.

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Bangladesh’s remittance inflows surge with over $1 billion in 18 days in January

After a 15 percent year-on-year rise in remittance inflow in 2018, the positive trend of money sent by the Bangladesh expatriates working abroad has continued into the new year.

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China is growth to slow down to 6.3pc

China’s economy is expected to cool further this year as domestic demand weakens and exports are hit by US tariffs, a Reuters poll showed on Thursday, reinforcing views Beijing

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China is central bank injects $83b in open market operations

The People is Bank of China (PBOC) on Wednesday injected liquidity into the banking system through reverse repos to offset the impact from a tax payment peak. The central bank

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NBR probing luxury car owners’ returns

The National Board of Revenue (NBR) is now examining the tax returns of the owners of 930 luxury cars to find out whether they have evaded tax payment on account of the

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Euro zone bond yields tumble

Euro zone government bond yields fell to six-month lows on Tuesday as the German statistics office said the country had escaped a recession but still recorded its slowest growth

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China exports shrink most, raising global risks

China’s exports unexpectedly fell the most in two years in December, while imports also contracted, pointing to further weakness in the world’s second-largest economy in 2019

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India is Modi to spend $4.2b in fertilizer subsidies to win farmers heart

India is likely to overshoot its fertilizer subsidy bill for this financial year by 300 billion rupees ($4.2 billion), three sources with direct knowledge of the matter said, and

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Gold on track for fourth straight week of gains

Gold prices climbed on Friday as the dollar retreated on expectations the Federal Reserve may pause interest rate hikes if the US economy slows this year, while investors awaited

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No paid subscriber in seven months of launch

Bangabandhu Satellite 1, installed at a cost of Tk 2,702 crore, is yet to earn a penny in seven months of its launch with 15-year lifespan while technical complexity and lack of

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Power sector distortions cost Bangladesh

Distortions in the power sector impose a total economic cost of roughly $11.2 billion (around Tk 93,000 crore) or 5 per cent of Bangladesh’s gross domestic product, on the

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BB sets Dec 27 for annual bank account closure due to polls on Dec 30

Bangladesh Bank on Tuesday set December 27 for closure of annual accounts of banks as the 11th national elections are scheduled for December 30.

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178 business people get CIP cards

The government on Tuesday awarded commercially important persons cards to 178 businesspeople for their contribution to the export business and economic growth of the country in

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DSE profit falls 16pc in FY18 on bearish market

The net profit of Dhaka Stock Exchange fell by 15.61 per cent in last financial year (2017-18) due mainly to a prolonged bearish trend at the market with a fall in turnover. The

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FBCCI presses NBR for impact assessment

Federation of Bangladesh Chambers of Commerce and Industry has requested National Board of Revenue to carry out a regulatory impact assessment before implementing the suspended

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GSK, Pfizer to merge consumer healthcare units

Pharmaceutical giants GlaxoSmithKline and Pfizer on Wednesday announced a merger of their consumer healthcare units that produce over-the-counter medicines.

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Asian markets sink with Wall Street on increasing worries

Asian markets mostly fell Tuesday following a sharp retreat on Wall Street fuelled by increasing worries about the global economy, while investors await the Federal Reserve policy

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Tokyo changes law

Bangladesh has asked for Japan's cooperation to train potential workers as the country has adopted a new immigration law.

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Afghanistan opens new trade route with aim of building link to Europe

Afghanistan on Thursday opened a new international trade route aimed at establishing direct access to Central Asian and Europe as it seeks to build up an economy wrecked by

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China is factory gate inflation eases

China's factory inflation slowed in November, a sign demand remains weak amid Beijing's ongoing trade war with the United States, while consumer inflation also flagged, official

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Apparel workers to get minimum salary Tk 8,000 from Dec

The minimum wage for the apparel workers across the country announced by the government will be effective from this month, said an official release here today.

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France, Germany agree to save EU digital tax

France and Germany jointly agreed a scaled-back version of an EU digital tax Tuesday, that they hoped would break significant opposition to the plan amongst bloc partners. The

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Qatar to withdraw from OPEC

Qatar said on Monday it was quitting OPEC from January 2019 but would attend the oil exporter group’s meeting this week, saying the decision meant Doha could focus on cementing

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China to widen market access for foreign investors

China will widen market access for foreign investors and step up protection of intellectual property rights, China's president Xi Jinping said on Wednesday ahead of the G20

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Maldives says China is building projects at inflated prices

Maldives new finance minister said on Monday that China is executing infrastructure projects at vastly higher prices than originally proposed but the island nation cannot get out

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Dolce&Gabbana fiasco shows importance of China market

Do not mess with China and its growing cadre of powerful luxury consumers. Dolce&Gabbana learned that lesson the hard way when it faced a boycott after Chinese expressed outrage

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EU endorses Brexit divorce deal

The European Commission chief warned the UK parliament it should not count on any renegotiation ahead of Britain is departure in March, as European Union leaders on Sunday

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After building spree, just how much does the Maldives owe China?

One week after taking power, the new government of the Maldives says it has no idea how much it owes China, which has led a construction spree in the tiny Indian Ocean nation, but

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NBR collects around 12pc more from tax fair

National Board of Revenue (NBR) has fetched Tk 2468,94,40,895 from the weeklong Income Tax Fair across the country, which is 11.35 per cent higher than the previous year. The

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Government to buy Aman rice at Tk 36 per kg

The government will buy 600,000 tonnes of boiled Aman rice at Tk 36 per kg this year. Food Minister Qamrul Islam provided the information to media after a meeting with the

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Bangladesh uses submarine cable to connect Sandwip island with national power grid

Bangladesh authorities have connected Sandwip island in the Bay of Bengal with the national power grid using submarine cable. The Power Development Board on Friday said they

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US farmers scramble to contain trade-war damage

Clouds crowded the Illinois sky as Nick Harre walked away from his combine at the peak of harvest to join four fellow farmers in greeting some unlikely visitors. Inside a nearby

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Fourth industrial revolution is real, present in Bangladesh: Foreign minister

Foreign Minister AH Mahmood Ali has said the fourth industrial revolution or 4IR is something “real and present, even in Bangladesh”. “There is just no point in arguing if

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Gulf economy recovering but faces oil volatility

Economic growth in the energy-rich Gulf will recover in 2018 from a contraction last year but remains vulnerable to volatility in crude oil prices, the IMF forecast on

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US legislation to urge possible China economic sanctions

US lawmakers will introduce legislation on Wednesday urging a stronger response by the Trump administration to China’s crackdown on minority Muslims, including possible

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Calls for open trade to greet Pence as Trump skips ASEAN summit

Asia-Pacific leaders will join the heads of Southeast Asian states this week in Singapore to renew calls for multilateralism and fresh pledges to resolve regional conflicts

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Saudi to cut oil output

Saudi Arabia, the world’s top crude exporter, said Sunday it will cut oil output from next month, as major producers held a key meeting to discuss shoring up sliding

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Russia clashes with Western oil buyers over new deals

Russian energy majors are putting pressure on Western oil buyers to use euros instead of dollars for payments and introducing penalty clauses in contracts as Moscow seeks

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China sees Xi, Trump is G20 meeting to be of ‘great significance’

A meeting between the Chinese and US presidents at the G20 summit will be of "great significance" in resolving bilateral problems, a senior Chinese diplomat said on Thursday, as

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Australia Reserve Bank lifts economic growth forecast

Australia is central bank on Thursday said the economy was "performing well" and lifted its growth outlook while keeping interest rates at a record low but warned there were

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