Good morning. Here's what happened overnight and what you need to know today.
1.
Expecting $1b Each from WB, ADB: The interim government has received verbal confirmation from the World Bank for $1.0 billion in budget support, and the Asian Development Bank has also positively responded to a request for $1.0 billion, according to finance ministry officials. Finance Division officials are currently preparing formal proposals to secure budget support from these two global lenders to pay off due power and energy import bills. (The Business Standard)
2.
Offshore Assets: As Saifuzzaman Chowdhury Javed's grip over United Commercial Bank (UCB) created a trail of disguised loans with abuse of political influence after he became a minister in 2019 back home, his brother Anisuzzaman Chowdhury Ronny's assets saw a meteoric rise in the UK. The Daily Star has now tracked five UK companies owned by Ronny and his wife Imrana Zaman Chowdhury together or individually with their business partners. The firms hold properties worth £22.31 million, or over Tk 350 crore, acquired after Javed's entry to now-deposed Hasina's cabinet. (The Daily Star)
3.
External Trade through Indian Ports: Bangladesh government won't encourage businesses to use Indian ports for rerouting export-import trade as no special facility comes therefrom and a local deep-sea port is forthcoming, sources say. Vessel traffic from the under-construction Matarbari deep-sea port is not far off now-its operation is expected by 2026. Officials concerned also have taken such a decision as the Indian ports may not be able to offer to Bangladesh any special facility compared to the regional transhipment ports in Colombo, Singapore and Port Klang. (The Financial Express)
4.
House Rent Up 5.89%: A degrading standard of living amid higher inflation and housing costs forces many to rent small homes or shared ones especially in towns and cities, besides compromising on food intake, analysts say and official findings attest. The tenants across the country are being compelled to hire the sublets or small residence as house-rents have been on a sharp rise over the years, latest SVRS report of the Bangladesh Bureau of Statistics (BBS) shows. According to the BBS, the rate of receiver of the sublets in Bangladesh has doubled in last couple of years. The rate of the tenants at the sublets or shared houses rose to 4.1 per cent in 2023 from 2.4 per cent two years back in 2021, the BBS statistics show. (The Financial Express)
5.
Stocks Rebound: The equity benchmark index bounced back in the outgoing week after two weeks of losses, as buoyant investors put fresh bets on shares, riding on renewed optimism spurred by market supportive measures. Amid such developments, the DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), climbed more than 104 points or 1.83 per cent to settle the week at 5,804, after losing 255 points in the past two weeks. (The Financial Express)
--- Saju Sarker