Dhaka, Bangladesh (BBN) - The Bangladesh Business News (BBN) prepares the morning business round up compiling reports, published by different newspapers and news portals in Bangladesh.
Bangladesh inflation eases slightly in April: Bangladesh’s inflation as measured by consumers’ price index (CPI) eased slightly in the month of April following resumption of political stability in the South Asian country. The rate of inflation dropped by 0.22 percentage point in April 2014 on the point-to-point basis compared to that of the previous month because of the declining prices of both food and non-food items. The general point-to-point inflation rate came down to 7.46 percent in April last from 7.48 percent in the previous month of the current fiscal, according to the state-run Bangladesh Bureau of Statistics (BBS) data, released on Wednesday.
Rentals to get full freedom for import of furnace oil: The government is set to allow the private oil-fired power plant owners to import furnace oil without prior permission from the state-owned Bangladesh Petroleum Corporation (BPC), a top government official said. The private oil-fired power plant owners would not require no objection certificate (NOC) from the BPC under the new arrangement, said the official of the Ministry of Power, Energy and Mineral Resources (MPEMR). Most of the oil-fired rental and quick rental power plant owners would go for importing of furnace oil independently taking benefit of the proposed mechanism to make 'hefty profits' as there would be none to look after their imports, it has been alleged.
Import soars by 30.61pc in March: The country’s overall imports increased by 30.61 per cent in March of this year against a negative growth of 5.38 per cent in the corresponding month of the last year due mainly to higher import of food, petroleum and chemical products. According to Bangladesh Bank data released on Wednesday, the overall settlement of letters of credit, generally known as actual import, stood at $3.44 billion in March of this year. The figure was $2.63 billion in March 2013 and $2.78 billion in March 2012.
Bangladesh forex reserve stands at $19.5bn after ACU payment: The country has made a routine payment of US$1.17 billion to the Asian Clearing Union (ACU) against imports during the March-April period of the current calendar year, officials said. The payment pushed the country’s foreign exchange reserve down to around $19.50 billion on Wednesday from $20.57 billion of the previous day, according to the central bank statistics. "We've remitted the fund to the ACU headquarters in Tehran in line with the existing provision of the night-member union," a senior official of the Bangladesh Bank (BB) told BBN in Dhaka.
Court stays IPO of Khulna Printing:The High Court yesterday stayed the initial public offering of Khulna Printing and Packaging Ltd (KPPL). The court also issued a rule as to why the IPO will not be cancelled. The HC bench of Justice Mirza Hussain Haider and Justice Muhammad Khurshid Alam Sarkar came up with the order and the rule after hearing a writ petition. Supreme Court lawyer Md Raihanul Mostofa filed the petition challenging the legality of the IPO.
Bangladesh Bank, SEC to strengthen coordination for capital market development: Both the Bangladesh Bank (BB) and the Bangladesh Securities and Exchange Commission (BSEC) will be strengthened coordination between the two regulators for betterment of the capital market. The decision was taken at a meeting of the senior officials of BSEC held in the central bank on Wednesday with Deputy Governor of the BB Abu Hena Mohammad Razee Hassan in the chair. “We’ve discussed different issues including investment of the banks in the capital market,” a BB senior official told BBN in Dhaka after the meeting. He also said it’s an ongoing process to develop bilateral relationship between the two regulators for ensuring stability in the country’s capital market. “It was necessary to avoid misperception about coordination of the two regulatory bodies.”
BBN/SSR/AD-08May14-10:42 am (BST)