Bangladesh, Dhaka (BBN) – Bangladesh Business News prepares Monday’s evening business round up compiling reports, published by different newspapers and news portals.
Bangladesh can afford higher borrowing to support Covid-affected economy, says BB policy note
Bangladesh has the ability to enhance the credit-based spending to support Covid-affected sectors as the country is ‘at low risk in terms of vulnerable debt sustainability.’ A policy note, prepared by Bangladesh Bank, made the observation mentioning that the country has managed public debt to Gross Domestic Product (GDP) ratio in a conservative way.
India’s ban on Covid-19 vaccine export won’t be applicable for Bangladesh: Momen
India’s Ministry of External Affairs has confirmed that the ban on Covid-19 vaccine export will not be applicable for Bangladesh, Foreign Minister AK Abdul Momen has said. “As the deal was done on the basis of discussion at the highest level — between Bangladesh Prime Minister Sheikh Hasina and Indian Premier Narendra Modi, no ban will be applicable for us. So, there is no reason for us to worry,” he told reporters at a briefing at the Foreign Service Academy.
Bangladesh’s stocks witness high volatility on vaccine uncertainty news
Bangladesh’s stocks witnessed high volatility after three hours of trading on Monday following coronavirus vaccine import uncertainty news as India banned to export vaccine for few months. India will not allow the export of the Oxford University-AstraZeneca coronavirus vaccine for several months, the head of Serum Institute of India, which has been contracted to make 1.0 billion doses of the vaccine for developing nations, including Bangladesh.
Indian rupee rises 9 paisa to 73.02 against US dollar
The Indian rupee appreciated by 9 paisa to close at a four-month high of 73.02 against the US dollar on Monday, supported by sustained foreign fund inflows.
South Korean and China’s Shenzhen stocks surge in first trading day of 2021
Shares in Asia-Pacific were mostly higher on Monday while oil prices jumped as the first trading day of 2021 kicked off. Mainland Chinese stocks rose on the day: The Shanghai composite gained 0.86% to 3,502.96 while the Shenzhen component soared 2.466% to 14,827.47. A private survey released Monday showed Chinese manufacturing activity expanding in December, with the Caixin/Markit manufacturing Purchasing Managers’ Index (PMI) for the month coming in at 53.0. That compared against November’s reading of 54.9. The 50-level in PMI readings separates expansion from contraction.
Oil prices give up early gains, trade lower on rising Covid cases
Oil prices dipped on Monday, giving up earlier gains, which saw prices rise on expectations that OPEC and allied producers may cap output at current levels in February at a meeting later in the day as the coronavirus pandemic keeps worries about first-half demand elevated. Brent crude for March slid 8 cents, or 0.15%, to $51.74 per barrel. U.S. West Texas Intermediate crude futures were 28 cents, or 0.58%, lower at $48.24 per barrel.