Finance News: Latest Financial News, Finance News today in Bangladesh

Q1 public spending enters slow lane

The public expenditure increased in the first quarter (Q1) of the current fiscal year (FY2020-21) but at its slowest pace in many years.Officials blamed the Covid-19 pandemic for the decline in the usual pace of economic activities, officials said.The budget spending in the July-September quarter stood approximately at Tk 895...

This picture shows a damaged building on Saturday in Izmir, after a powerful earthquake struck Turkey's western

This picture shows a damaged building on Saturday in Izmir, after a powerful earthquake struck Turkey's western coast and parts of Greece, killing 26 people, levelling buildings and creating a sea surge Story on Page 11 —AFP photo

Low return on deposits lifts interest rate spread

The interest rate spread in the country's banking system increased further in September 2020 as banks slashed rates on deposits more than those of lending.The weighted average spread between lending and deposit rates offered by commercial banks rose to 3.0 per cent in September from 2.87 per cent a month...

Remittances to reach $20b by Dec, says WB

Bangladesh's remittance inflow is projected to grow by 8.0 per cent this year, bucking the falling trend in the world and the region, the World Bank (WB) says.The country's external income from the migrant workers could reach US$20 billion by December this year from the current level of $16 billion,...

Covid cases, deaths drop

The number of new cases and deaths from the coronavirus declined in the country on Saturday with comparatively a less number of samples being tested during the last 24 hours.A total of 1,320 people tested positive for coronavirus on the day after testing a total of 11,532 samples, according to...

BD wants IFC to cut its lending rate

Finance Minister AHM Mustafa Kamal has called upon the International Finance Corporation (IFC), the private sector lending window of the World Bank Group, to reduce the rate of interest on its loan to help revive the country's private sector which was affected by the Covid-19 pandemic.He also requested assisting Bangladesh...

Sustained recovery for RMG crucial

Readymade garment (RMG) stakeholders, including large global brands, stressed the importance on a sustained Covid-19 recovery for the country's largest foreign currency-earning sector. They also focused on coordinated capacity-building initiatives, improved labour market governance, effective social dialogue and responsible sourcing practices to ensure decent work and resilient supply chains.The observations...

Salman rails against multiple statements

The practice of preparing different types of financial reports by the same company for various purposes like taking bank loans or going public must be stopped to maintain the integrity of financial reporting and keep those beyond questions.Salman F. Rahman, private industry and investment adviser to the Prime Minister, said...

Investment limit to be set at Tk 10m

The government is set to cap investment on its bonds for expatriate Bangladeshis in line with that of other state-run savings instruments, officials say.Currently, there is no upper limit of the bonds for non-resident Bangladeshis (NRBs)-the Wage Earner Development Bond (WEDB), US Dollar Premium Bond (UDPB) and US Dollar Investment...

Briefing 01-11-2020

Biden, Trump in tug-of-war In a final burst of campaigning, US President Donald Trump and his Democratic challenger Joe Biden have criss-crossed Midwestern (MW) states that may hold the keys to the White House. Mr Biden went on the offensive in Iowa, a state that voted for Mr Trump by...