Bangladesh PM Hasina wins UN award for leadership on climate change

Bangladesh PM Sheikh Hasina

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.

India promises to cut trade gap: Hasina
Prime Minister Sheikh Hasina yesterday secured a firm assurance from her Indian counterpart Narendra Modi that New Delhi would take concrete actions to address Dhaka’s persistent concerns over the huge imbalance in bilateral trade. Hasina raised the issue during her talks with Modi at the Hyderabad House in New Delhi and later told the media that “Prime Minister Modi was receptive to the issue of growing trade deficit and assured of his government’s concrete steps to address this.”

Indian PM Modi announces $4.5 billion line of credit for Bangladesh
Prime Minister Narendra Modi and his Bangladeshi counterpart Sheikh Hasina met in Delhi today, signing 22 agreements including a 500 million dollar line of credit to Dhaka for the purchase of military hardware, the first such agreement of its kind between the two countries.

Bangladesh RMG export to China shining, India in tatters
Readymade garment export to China witnessed more than 27 per cent increase while that to India suffered nearly 8 per cent decrease in the July-March period of the current financial year 2016-17. Exporters and experts said in view of potentiality, China would be the big market for Bangladesh in future while various technical barriers imposed by the Indian authorities were holding back Bangladesh’s exports to the market.

Queue gets longer for turning to petroleum
Demand for petroleum products in fuelling automated vehicles surges with the latest hike in CNG (compressed natural gas) price in the country. Stakeholders and insiders said the conversion of oil-run vehicles to CNG-run ones is currently almost ‘frozen’ as the clients no more see it viable commercially.

Bangladesh’s stocks return to banked by large caps
Bangladesh’s stocks returned to higher last week that ended on backed by some large-cap stocks price surged. Brokers said the market rebounded as investors showed their buying interest on selective sector specific large—cap shares. The week witnessed five trading sessions as usual. Of them, two sessions closed higher while three faced price corrections.

Banks charging high for credit card-based loans
Banks are charging their clients higher interest rates — between 30 per cent and 36 per cent — for loans they (clients) get through credit cards, although the overall weighted average interest on lending dropped to 9.77 per cent in February because of slumping deposit rates. Bangladesh Bank officials said the higher interest rates charged by banks was not logical as the overall interest rate both for deposit and lending continued falling in last two years.

Food exports to rise if India accepts BSTI certificates
Packaged food exporters continue to require testing their products in Indian labs as the customs authorities there are yet to accept certificates issued by Bangladesh Standards and Testing Institution (BSTI), the national standards body. As a result, they have to wait for days, sometimes even up to a month and half, to get test results from the Indian labs to market their products in the neighbouring market.

BD to import 1,000MW hydro-power from Myanmar, China
The government has advanced the process to import 1,000MW hydro-power from Myanmar and China to meet up the future electricity demands, according to Power Division officials. Bangladesh has already been importing 660 MW power from India. “Bangladesh has sent a non-binding Memorandum of Understanding (MoU) to Myanmar on April 11, 2016 regarding cooperation in the power sector which is now an ongoing process between the two countries,” a Power Division official, preferring anonymity, told the Dhaka Tribune on Saturday.

BBN/SSR/AD