Economy News | Daily sun | 2019-06-19
Bangladesh fastest-growing economy in Asia-Pacific: ADB By Sun Online Desk | Last Updated: 19th June, 2019, 22:00

“Bangladesh will continue to be the fastest in the Asia-Pacific,” the bank says in its Asian Development Outlook (ADO)

Bangladesh fastest-growing economy in Asia-Pacific: ADB

Salt farmers to get ID cards Salt farmers to get ID cards

Industries Minister Nurul Majid Mahmud Humayun today told the Jatiya Sangsad that government would distribute ID cards among salt farmers 


Trans Mountain: Canada approves $5.5bn oil pipeline project Canada approves $5.5bn oil pipeline project

The decision could pose a challenge for PM Justin Trudeau as he heads into an election season likely to be fought in part over climate issues


UK businesses look for opportunities in Bangladesh UK businesses look for opportunities in Bangladesh

A delegation of British-Bangladeshi businesspersons is exploring investment opportunities in Bangladesh


Govt to build chemical warehouse in Gazipur Govt to build chemical warehouse in Gazipur

Total of 53 chemical storages will be built and all necessary safety measures in order to fight any fire hazards will be ensured


Inflation slightly rises to 5.6 per cent in May Inflation slightly rises to 5.6 per cent in May

Planning Minister MA Mannan releases the data


Asian markets mixed ahead of central banks' rate decisions Asian markets mixed ahead of central banks' rate decisions

Central banks in Britain and Japan will also announce their latest monetary policy decisions this week


No liquidity crisis in banking sector, says PM No liquidity crisis in banking sector, says PM

The Prime Minister said this while winding up her speech on the supplementary budget for 2018-19 fiscal year in absence of Finance Minister


India announces retaliatory trade tariffs against the US India announces retaliatory trade tariffs against the US

The move is the latest push by the Trump administration to redress what it considers to be unfair trading relationships with other countries


Budget is people-oriented, business-friendly:  FBCCI Budget is people-oriented, business-friendly: FBCCI

FBCCI president Sheikh Fazle Fahim says that This is a business friendly budget. It will accelerate the pace of development in the country


US stocks rise as Disney advances US stocks rise as Disney advances

The Dow Jones Industrial Average jumped 101.94 points, or 0.39 per cent, to 26,106.77 on Thursday


GDP target achievable but its investment ratio must increase: FICCI Investment ratio must increase to achieve GDP : FICCI

Foreign Investors’ Chamber of Commerce and Industry’s (FICCI)  said the GDP growth target of 8.2 percent is achievable


Hong Kong stocks open with further losses Hong Kong stocks open with further losses

The Hang Seng Index fell 0.72 percent, or 196.90 points to 27,111.56


Poverty rate expected to be reduced by 10 percent in four years Poverty rate expected to be reduced by 10pc in 4 years

The social safety net coverage has expanded in the budget increasing the number of beneficiaries to 78.71 lakh including from the existing 6,602,500


Every upazila to get tax office Every upazila to get tax office

Finance minister AHM Mustafa Kamal says that the government’s main aim is to collect more income tax by broadening the tax base without increasing the tax rate


Tk 3528 cr proposed for PMO Tk 3528 cr proposed for PMO

The proposed allocation for the PMO is Taka 711 crore higher in comparison to the revised budget for the FY 2018-2019


New budget won’t spark price spiral: Finance Minister New budget won’t spark price spiral: Finance Minister

 There is no component in the budget for the 2019-2020 fiscal year which may cause a price spiral of essential commodities


Taka 2,02,721cr ADP in FY20 budget Taka 2,02,721cr ADP in FY20 budget

In terms of sector-wise allocation, the transport sector received the highest ADP allocation of Taka 52,806 crore or 26.05 percent of the original ADP


Tk 4,503cr earmarked for food sector Tk 4,503cr earmarked for food sector

Of the total food budget, Taka 3,614 crore has been earmarked for non-development part and Taka 889 crore for development purposes


Tk 16,263 cr for passenger-friendly railway system Tk 16,263 cr for passenger-friendly railway system

Tk 3,664 crore has been proposed for operating expenditure and Tk 12,599 crore for development expenditure of railways ministry


Communication infrastructure gets Tk 61,455 crore allocation Communication infrastructure gets Tk 61,455 crore allocation

AHM Mustafa Kamal says that South Asia Subregional Economic Cooperation road connectivity projects 1 and 2 are being implemented in order to be connected with the global transport network


Smartphones to get costlier Smartphones to get costlier

Finance Minister AHM Mustafa Kamal on Thursday proposes raising the import duty to 25 percent from existing 10


Tk 14,053 cr allocation, subsidies Tk 9000 cr proposed for agriculture sector Tk 23,053 cr proposed for agriculture sector

The government has earmarks Taka 9000 crore as subsidies and incentives in the proposed budget while in the revised budget of 2018-19, the accumulated subsidies was Taka 8,070 crore


NBR to collect Tk 325,660cr revenue NBR to collect Tk 325,660cr revenue

Tax revenue from non-NBR sources has been estimated at Taka 14,500 crore


Tobacco products to be costlier Tobacco products to be costlier

Mustafa Kamal proposed fixing the price of every 10 sticks of low segment cigarette at Taka 37 and the supplementary duty rate to 55 percent


Three-year programme taken up to increase job creation rate 3-yr programme taken up to upturn job creation rate

The new budget proposed to allocate Taka 100 crore for the training and employment of specific group of people


Incentive on money remitted by expatriates from this year Incentive on money remitted by expatriates from this year

The minister proposed this incentive while placing the national budget of 2019-20 at parliament


All pensioners to come under EFT system in FY20 All pensioners to come under EFT system in FY20

Payment of pension in pensioner’s bank accounts through EFT has already been made to 27,000 pensioners, the budget speech has informed.


Tk 100cr kept aside to promote startup enterprises Tk 100cr kept aside to promote startup enterprises

As the government wants to use the full potential of demographic dividend, an amount of Tk 100 crore has been earmarked in the proposed national budget


Budget: Prices up, prices down Budget: Prices up, prices down

Finance Minister AHM Mustafa Kamal on thursday proposed changes to duties on different products, which will result in increase and decrease in their prices

 


RMG gets 5pc cash incentive in FY20 RMG gets 5pc cash incentive in FY20

The existing tax rates for the RMG sector is remaining the same, which the manufacturers had wanted to be lowered down


Govt to form commission on Ganges-Brahmaputra-Meghna basins Govt to form commission on GBM basins

The government aim is to get equity share of water these rivers


Utilization of blue economy resources can increase GDP by 2pc: Kamal Utilization of blue economy resources can increase GDP by 2pc: Kamal

Finance Minister AHM Mustafa Kamal in his budget speech on Thursday said the country can increase its…


Tk 100 crore allocation for river erosion affected people Tk 100 crore allocation for river erosion affected people

The government has allocated Taka 100 crore in the proposed national budget for fiscal 2019-20 placed…


Budget 2019-‘20: Some important features Budget 2019-‘20: Some important features

Here are some important features of the new national budget placed by Finance Minister AHM Mustafa Kamal…


Tk 1,621cr proposed for foreign affairs Tk 1,621cr proposed for foreign affairs

Of the total Taka 1,621 crore, Taka 121 crore will be spent under the Annual Development Programme (ADP) and Taka 1,499 crore under non-development sector


Tk 140 crore proposed for ACC Tk 140 crore proposed for ACC

In a historic move, Prime Minister Sheikh Hasina started announcing the proposed budget in the Jatiya Sangsad on behalf of Finance Minister AHM Mustofa Kamal as he felt sick


Tk 1489,12 crore proposed budget for development of Youth and Sports Tk 1489,12 crore proposed budget for development of Youth and Sports

The government has announced proposed allocation of Taka 1489,12 crore for youth and sports in their…


Finance Minister plans big to create 10mn jobs Finance Minister plans big to create 10mn jobs

Kamal says the government needs to enhance growth in the industrial sector to hasten GDP growth and generate employments


Govt projects 8.2pc GDP growth, 5.5pc inflation Govt projects 8.2pc GDP growth, 5.5pc inflation

The budget speech has hinted that our commitment is to achieve a growth rate of 10 percent by fiscal 2023-24, and maintain that rate until 2041

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