Dhaka, Bangladesh (BBN) - The BBN has prepared the morning business round up compiling reports, published by different newspapers and news portals in Bangladesh.
Patent waiver a boon for pharma
Bangladesh’s pharmaceutical sector will be the second largest export earner following the RMG within the next three years, thanks to drug patent waiver for 17 years for LDCs, industry people said yesterday. They said this at a press conference arranged to brief the media about the benefits of the decision of WTO’s Council for Trade-Related Aspects of Intellectual Property Rights (TRIPS). The council extended the drug patent exemption for Least Developed Countries (LDCs) including Bangladesh till 2032.
Govt designing a pension scheme for private sector
The government will introduce a mandatory pension scheme for the private sector under the new National Social Security Strategy (NSSS) that was announced last week by the planning commission. The cabinet has already given a timeframe to the banking division of the finance ministry to prepare a modus operandi for the scheme, said Shamsul Alam, member of the General Economics Division of the planning commission.
Bangladesh allows restructuring of BDT140.5bn large loans
The central bank of Bangladesh has so far approved proposals of 10 business groups for restructuring their large loans worth BDT 140.48 billion, officials said. A total of 22 commercial banks had earlier submitted the proposals to the Bangladesh Bank (BB), seeking approval to large loan restructuring on behalf of their clients.
Deal on $100m GPE grant for pry edn likely this month
Bangladesh for the first time will receive US$ 100 million worth of grant from the Global Partnership for Education (GPE) Fund by this month to improve the country's primary education system, officials said Sunday. They said the government will receive the grant from the World Bank (WB) as the development partner is the administrator of the Education Trust Fund.
Yield on T-bills fall significantly
The interest rate on treasury bills (T-bills) dropped significantly on Sunday, as commercial banks rushed to offer bids in the auctions, officials said. A total 87 bids amounting to BDT 50.91 billion was submitted by the commercial banks for two-type of T-bills on the day against notified amount of only BDT 8.0 billion.
Taka continues to fall against dollar
The taka has continued to fall against the dollar for two weeks now after nearly one year of an unchanged exchange rate, according to data from the Bangladesh Foreign Exchange Dealers' Association. “Market forces are determining the exchange rate,” said Kazi Sayedur Rahman, general manager of Bangladesh Bank's foreign exchange reserve and treasury management department.
Bangladesh’s stocks plunge amid low turnover
Bangladesh’s stocks ended lower for the third straight sessions on Sunday investors remained on selling frenzy. Both the Dhaka Stock Exchange, the prime bourse of Bangladesh, and Chittagong Stock Exchange, the port city bourse of the country, nosedived. The prime index of the Dhaka Stock Exchange (DSE) plunged 59.01 points and the port city bourse Chittagong Stock Exchange (CSE) slumped 92.80 points.
Businesses’ loan appetite sluggish amid uncertainty
The private sector credit growth inched up in September from that of the previous month, but still remained lower than the target set in the monetary policy as the businesspeople maintained a ‘wait-and-see’ approach amid political uncertainty. According to the latest Bangladesh Bank data, the year-on-year credit growth rate in the private sector rose to 12.88 per cent in September compared with that of 12.69 per cent in August of this year. The private sector credit growth was 12.96 per cent in July.
BBN/SSR/AD