Dhaka, Bangladesh (BBN) - The BBN has prepared the morning business round up compiling reports, published by different newspapers and news portals in Bangladesh.
Bangladesh fights different currency war
In the currency race to the bottom, one nation is pushing in the opposite direction: Bangladesh. “I have the pleasant challenge of appreciation,” central bank Governor Atiur Rahman said in an interview in London Thursday. Rahman overseeing monetary policy in one of the world's poorest nations said Bangladesh is alone in the region with pressure for a stronger exchange rate.
Yuan depreciation may help BD gain in trade
Economists say the devaluation of Chinese currency RMB, also known as yuan, against the US dollar will not harm Bangladesh's external trade rather help through cheaper import of raw materials from the giant economy. If effective negotiation is done, it will bring a blessing in disguise for the country, according to the economists and trade experts.
Bangladesh Bank buys $60m more from two banks
The central bank of Bangladesh purchased US$60 million more from two commercial banks on Thursday to help keep the inter-bank foreign exchange (forex) market stable, officials said. “We’re purchasing the US currency from the bank directly at market rate to protect the interests of exporters and migrant workers by keeping the exchange rate of the local currency against the US dollar stable,” a senior official of the Bangladesh Bank (BB) told BBN in Dhaka.
Plan to build RMG warehouse in Russia
Finance Minister AMA Muhith said the government planned to set up a mainly readymade garment warehouse in Russia in a bid to increase trade with the Commonwealth of Independent States countries. “Bangladesh has no warehouse in the world. But we are now thinking of such a one to bring about pace in our exports,” he said at a seminar yesterday. Muhith urged the entrepreneurs to find a suitable place in the CIS countries to build a warehouse, mostly for apparel goods.
Weekly reviews: Bangladesh’s stocks fall for 3rd week
Bangladesh’s stocks witnessed marginal fall last week that ended on Thursday as investors were on selling spree on large-cap stocks. The week witnessed five trading sessions as usual. Of them, two sessions faced downturn while three sessions witnessed marginal gains. The benchmark index of the Dhaka Stock Exchange (DSE), went down by 5.58 points or 0.12 per cent to close the week at 4,760.14 points.
Tariff Commission for availability of export dev fund for all sectors
The Bangladesh Tariff Commission has recommended specifying the rate of value-addition to different exportable products for providing loan in foreign currency from the Export Development Fund while importing raw materials to produce export items, commerce ministry officials said.
Rice output hits record, farmers not so happy
Farmers bagged a record 1.91 crore tonnes of boro rice last season, enabling the country to log in its highest rice output and attain self-sufficiency in staple food. Overall, rice output stood at a total of 3.47 crore tonnes in fiscal 2014-15, up 1 percent year-on-year, according to Bangladesh Bureau of Statistics.
Bangladesh Bank to boost US$ purchase ahead of Eid
The central bank of Bangladesh is going to expedite purchase of the US dollar from banks ahead of the Eid-ul-Azha festival in an attempt to keep the inter-bank foreign exchange market stable, officials said. Talking to BBN, a senior official of the Bangladesh Bank (BB), the country’s central bank, said the BB is likely to boost purchase of the US dollar from the banks to maintain a balance between supply and demand as inflow of the foreign currency ahead of the Eid is expected to rise.
BBN/SSR/AD