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.
Growth-supportive monetary policy in focus
Spadework for framing country's new monetary policy gets going with the central bank focusing measures supportive of maximum economic growth with smooth credit flow into productive sectors. The observations on the objectives were made at an internal preparatory meeting on the fresh monetary policy statement (MPS) at the Bangladesh Bank (BB) headquarters Sunday with Governor of the central bank Fazle Kabir in the chair.
No change in plans for BB over Brexit
The central bank has no plans to realign its reserve money invested in pound sterling even after the currency hit a 31-year low following Britain's vote to leave the European Union, a top official said. “Our exposure to pound sterling is minor and we don't see any risk there,” SK Sur Chowdhury, deputy governor of Bangladesh Bank, told The Daily Star yesterday. BB gives more weight to the US dollar, so keeps a lion's share of its reserve money in greenbacks, he said.
Brexit sends pound crashing to 6-year low against taka
In the wake of Brexit, the British pound sterling yesterday lost 7% of its value against Bangladeshi taka, upsetting the business community and Bangladeshi expats who are likely to count losses from the currency movement. The currency value declined after Britain voted in a referendum to exit European Union on Thursday through holding a referendum. Value of each pound dropped to Tk107.3 yesterday from Tk115.3 last Thursday, according to Bangladesh Bank.
Savings tools sales hit fresh record at Tk 30,093cr in July-May
The net investment in the national savings certificates and bonds hit a fresh record at Tk 30,092.77 crore in 11 months (July-May) of this fiscal year 2015-16 as clients invested heavily in the savings tools due to lower rates of interest on deposit products of the scheduled banks. The previous highest net investment in the saving tools was Tk 28,732.64 crore posted in the FY15.
PM opens work on metro, BRT
Prime Minister Sheikh Hasina yesterday inaugurated the construction work on the much-hyped first-ever metro rail service in the capital and the Bus Rapid Transit (BRT) from Hazrat Shahjalal International Airport to Gazipur. She formally opened the construction work on these two mega projects, unveiling plaques digitally from the Bangabandhu International Conference Centre in the city.
Bankers get nine-day holiday in Bangladesh
The central bank of Bangladesh and all other scheduled banks will remain closed for nine straight days starting Friday, July 1, officials said. Bangladesh Bank (BB), the country’s central bank, issued two separate notifications, one which says that the banks will remain closed on Monday July 4, instead of Saturday July 16, which is usually a weekly holiday.
Transit goods must enter BD in sealed covered carriers
Goods in transit and transshipment from India have to enter Bangladesh in covered containers with unbroken seal as per modalities framed under the two-nation treaty. The National Board of Revenue (NBR) has framed the draft rules under the protocol on Inland Water Transit and Trade (PIWTT) between the countries, officials said.
Bangladesh stocks return to red with dull trading
Bangladesh’s stocks returned to the red on Sunday, after remaining upbeat in the past two sessions, as most of the investors remained followed cautious stance ahead of Eid Festival and June-closing. The market saw a steep decline at opening as key index of the prime bourse fell around 25 points within first 80 minutes of trading amid panic sell-off, but late hours buying helped the market to end flat zone.
BBN/SSR/AD