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.
Apparel boosts export earnings in October
Export earnings bounced back in October thanks to higher shipment of garment items, according to data from the Export Promotion Bureau. Bangladesh fetched $2.71 billion from exports in October, which is 14.39 percent higher than the earnings in the same period a year ago and 2.84 percent higher than the monthly target. Earnings from the garment exports have been rising mainly due to increased efficiency in productivity and increased volume of value-added garment items, said Siddiqur Rahman, president of Bangladesh Garment Manufacturers and Exporters Association.
Foreign capital inflow negative in 2015
Bangladesh experienced the worst ebb tide in annual capital inflows, both in equities and bonds, in the last calendar year. Low yields on bonds and comparative higher stock returns from other global equity markets were believed reasons for such slowdown in foreign fund inflows both into bond and equity markets in 2015.
Govt starts offloading 10pc more shares of DESCO
The government has decided to resume offloading shares of state-owned enterprises with offloading 10 per cent more shares of Dhaka Electric Supply Company, which is listed with the two bourses. The state-run Bangladesh Power Development Board, the major shareholder of DESCO, on Sunday announced that as per the government order it would offload 10 per cent shares of DESCO from its possession to the capital market.
Bangladesh’s stocks finish flat
Bangladesh’s stocks finished almost flat on Sunday with persistent volatility as risk-averse investors booked quick-profit on sector specific stocks. After witnessing volatility almost throughout the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), finished at 4,672.39 points, shedding 0.48 points or 0.01 percent over the previous session. The DS30 comprising blue chips also fell 0.96 points or 0.05 percent to settle at 1,756.81 points.
BB buys $1.82b from banks in July-Oct
The central bank has directly purchased US$1.82 billion from the commercial banks in the first four months of the current fiscal year (FY), 2016-17, to help keep the inter-bank foreign exchange (forex) market stable. The amount was slightly lower than that of the same period in last fiscal year (FY 16), when the Bangladesh Bank (BB) bought nearly $1.90 billion, according to its latest statistics.
Bangladesh Bank stolen reserve money due in a week
Bangladesh Bank (BB) hopes to get back $15.25 million of heist reserve from the Philippines after one week. General Manager of Bangladesh Financial Intelligence Unit of Bangladesh Bank Debaprosad Debnath yesterday told the Dhaka Tribune: “Philippine’s central bank Bangko Sentral Pilipinas (BSP) will send back the money in cash to Bangladesh Bank’s reserve account at Federal Reserve Bank (of New York) following Bangladesh’s appeal.”
Citycell to stay for now
Citycell will resume its services shortly after the telecom regulator reinstated its suspended spectrum yesterday evening, said a senior official of the operator. The development comes after the Supreme Court last week asked the government to restore Citycell’s spectrum and let it continue operations for now.
NBR frames rules for e-tracking of export-import containers
The National Board of Revenue has framed rules for introducing electronic seal and lock services, a container tracking technology, in the country in a bid to ensure security of containers stuffed with export and import goods. The customs wing of the NBR on Tuesday issued the rules under which private service providers would ensure security of export-import goods laden containers, covered vans and trucks from Chittagong Port to private inland container depot, known as off-dock situated in the port city and vice-versa.