File photo: Moneycontrol
Dhaka, Bangladesh (BBN) - The BBN (Bangladesh Business News) has prepared the morning business round up compiling reports, published by different newspapers and news portals in Bangladesh.
Nat’l grid to get addl 4,300MW by 2018
The government is set to add at least 4,311MW of power to the national grid in 2018, raising the annual loss of state-run Power Development Board to Tk 10,000 crore through purchase of power at high price. It is going to be the highest-ever addition in a year, with 1,765MW being the last highest addition made in 2011, according to the power board data updated last week.
BD woven garments losing competitiveness globally
Bangladesh's woven garments are losing competitiveness on the global market mainly for longer lead time, poor backward linkage, and insufficient gas and port facilities, businesspeople said. Woven-wear exports to the two major markets -- Germany and the United States -- took a downturn during the first half of the current fiscal year, 2017-18, according to available data.
Apparel exports to India soar 66pc
Garment exports to India soared 66.41 percent in the first six months of the fiscal year on the back of demand from Western brands operating in the neighbouring country and closure of some small- and medium-scale factories. Between July and December last year, garment shipments to the neighbouring country fetched $111.33 million, according to data from the Export Promotion Bureau.
Likely priorities for the election-year budget
The government is considering popular opinion while planning for the upcoming budget which will be the last one in its current tenure, with the next general election likely to be held in December. Following an order from the Prime Minister’s Office, the Finance Ministry has already started preparing the proposed budget for the fiscal 2018-19 focusing on tapping into the opportunities of the global economy, increasing remittance inflow and exploring new export markets.
Taka falling against US$ despite BB's support
Depreciating trend of the local currency against the US dollar is continuing despite the central bank's foreign currency support to the commercial banks. The exchange rate of Bangladesh Taka (BDT) depreciated by five paisa against the greenback in the last two days mainly due to higher demand for the US currency in the market.
Stakeholders decide to meet BB governor to discuss way out
Merchant bankers and stockbrokers have decided that they would hold a meeting with Bangladesh Bank governor Fazle Kabir soon to put forward some proposals for improving the current bearish situation at the stock market. They made the decision at an emergency meeting between the DSE Brokers Association and the Bangladesh Merchant Bankers Association, held at the Dhaka Stock Exchange office premises in the city on Tuesday.
The debate over GDP growth target
Despite the government setting 7.4% as the Gross Domestic Product (GDP) growth rate for the fiscal 2017-18, many international organizations, including the World Bank, come up with different ideas regarding the target. The WB has forecast that Bangladesh will post only 6.4% GDP growth over the period, which is one percentage point less than the target set by the government. The WB forecast came in a report styled “Global Economic Prospects in South Asia” published on January 9.
Inflow of remittances may touch $1.49bn in January
Bangladesh’s foreign exchange market may stable by the end of this month, as the flow of inward remittance is increasing gradually. The officials of central bank expect that the inflow of remittance may reach nearly $1.40 billion by the end of this month, if the ongoing trend of inward remittance continues.
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