Dhaka, Bangladesh (BBN)- The Bangladesh Business News – BBN –has prepared the morning news highlights compiling reports, published by different newspapers and news portals in Bangladesh.
Ban hartal, say businesses
Businesspeople at a meeting Thursday called upon the main political parties to immediately resolve the ongoing political crisis for the sake of the country's economy. They also suggested imposing a ban on hartal forever and 'politics of violence' so that the economy could flourish smoothly. They made the suggestions at the preparatory meeting held at the conference room of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) ahead of a sit-in programme of businessmen and people across the country on February 8.
Budget will be 16pc bigger next fiscal year
The budget for the next fiscal year will be of Tk 291,670 crore -- more than 16 percent bigger than the current outlay, finance ministry officials said. Prime Minister Sheikh Hasina met officials of all divisions under the finance ministry yesterday to know about their progress and future plans. Hasina said the size of the budget has been increasing every year. In fiscal 2005-06, the size of the budget was Tk 61,057 crore, which rose to Tk 250,506 crore in fiscal 2014-15, she added. “The increase in the size of the budget has added momentum to economic growth and also reduced poverty and disparity.”
H1 trade deficit doubles
The overall trade deficit of the country more than doubled in the first half (H1) of the current fiscal year (FY) 2014-15 because of higher import payments and lower export receipts, officials said. The deficit increased by nearly 118 per cent to US$ 5.31 billion during the July-December period of FY 15 from $2.44 in the corresponding period of the previous fiscal, according to the central bank statistics, released Thursday.
Bangladesh’s money supply rises nearly 13% in November
Country’s broad money supply grew by nearly 13 per cent in November 2014 compared to the same period of the previous year, officials said. The broad money supply rose to BDT 7250.65 billion in November last from BDT 6425.76 billion a year ago. It was BDT 7209.65 billion in October 2014.
Japan may relax ROO to help Bangladesh boost knitwear export
The Japanese government is considering a plan to further relaxing the conditions of rules of origin to facilitate boosting of Bangladesh knit apparel exports to their market.The progress on the issue was made as a follow-up of the Japanese prime minister’s assurance during his visit to Dhaka in September last year. Japan’s visiting Deputy Foreign Minister Shinsuke Sugiyama informed of the development at a Foreign Office Consultation (FOC) in Dhaka yesterday, also apprising the meeting that Japan already decided to provide funds for building five mega infrastructure development projects in Bangladesh.
Bangladesh-Thailand sings $150m pact for setting up BOPP factory
PM Group, a front line corporate house of Thailand, signed a deal with Meghna Group of Bangladesh to invest $150 million for establishing a Biaxially Oriented Polypropylene (BOPP) factory. The PM Group will invest the amount in phases for setting up the manufacturing plant in Bangladesh, said a press statement of the Ministry of Foreign Affairs in Dhaka.
General insurance growth slows to record low
Growth in the general insurance industry slowed to an all-time low of 6 percent in 2014, according to Bangladesh Insurance Association. Industry insiders attributed the decline to the political unrest of 2013 that prompted businesses to take a wait-and-see approach to investment. “Though last year was a better year in terms of political stability, entrepreneurs did not invest much,” said QAFM Serajul Islam, managing director of Pioneer Insurance, which managed to grow by 12 percent last year.
Firebomb takes three more lives
He knew the risk on the way was great. But his needs were greater: He had a five-member family to feed. And he paid with his life for the risk he had taken. Small trader Shahidul Islam is one of the latest arson victims to join the procession of the at least 55 dead in the last one month. In yesterday's bomb attack on the truck he was on, another man was burned alive while two others were injured. The incident took place around 4:30am at Belail in Bogra town. Shahidul, 38, was going to Dinajpur from Jhenidah to sell betel leaves.
SSC exams begin amid fear of violence
The SSC and equivalent exams begin today across the country amid concern over political violence as the indefinite blockade by the BNP-led 20-party alliance continues. A total of 14,79,266 students will take the exams under 10 education boards. “The exams will begin on time. I hope BNP will not enforce another hartal at least on weekends and impede the exams,” Education Minister Nurul Islam Nahid said.
BBN/SSR/AD-06Feb15-8:16 am (BST)