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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.
China coronavirus epidemic poses a threat to BD trade
Bangladesh’s trade and economy may suffer badly due to the ongoing Coronavirus contagion in China, as the former is highly dependent on the world’s second largest economy for its industrial raw materials and finished goods. Nearly 28 per cent of the country’s import comes from China, followed by India, nearly 14 per cent.
Coronavirus in China: Raw materials supply disruption may hinder local industries
Supply chain of imported raw materials essential for the export-focused manufacturing industries in the country would be hindered badly as the outbreak of Coronavirus in China cast a negative impact on communication and goods movement. Two major sectors such as garment and leather could be hit hard if the outbreak of the deadly disease prolonged, feared industrialists.
Govt’s net bank borrowing may cross BDT 600b this fiscal
The government bank borrowing may well cross the BDT 600 billion mark at the end of this fiscal due to lower revenue collection along with the ongoing falling trend in the sale of national savings certificates. The ministry of finance is now working to raise the bank borrowing target significantly for this fiscal while the target for non-bank borrowing, particularly from national savings schemes, will be drastically reduced to meet its budget deficit, officials said.
Bankers again request Bangladesh Bank to keep small firms out
Bankers on Sunday again urged the Bangladesh Bank to keep small enterprises outside the purview of single-digit lending rate implementation. The Association of Bankers, Bangladesh made the request at a meeting with BB governor Fazle Kabir, held at the central bank head office in the capital.
Remittances grow 21.44% in seven months of FY ’20
The flow of inward remittances grew by 21.44 per cent in the first seven months this fiscal year as the government has provided incentive to the beneficiaries against remittance. The inflow of remittances rose to US$ 11.04 billion during the July-January period of the current fiscal year (FY), 2019-20, from $9.09 billion in the same period of FY ’19, according to the central bank’s latest statistics.
MFS losing steam
Mobile financial service, the great hope for financial inclusion, appears to be faltering. Last year, about 3 crore users transacted Tk 434,489.92 crore through the platform by, up 14.68 per cent year-on-year, according to data from the Bangladesh Bank.
Valuation of seven state firms by Apr
The government has asked seven state-owned energy firms to complete the valuation of their assets in two months for the divestment of shares in the bourses. The directive was issued as part of the government’s efforts to boost supplies of good shares in the stock market, finance minister A H M Mustafa Kamal told reporters on Sunday in the city.
Stocks post modest gain on bargain hunting
Bangladesh’s stocks posted a modest gain on Sunday, snapping as two-day losing streak, as some investors showed buying binge on sector-wise shares after city corporation election. DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 11.85 points or 0.26 percent to settle at 4,481, after losing 41 points in the past two days.
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