A apparel factor in Bangladesh

Sunday’s morning business round up of Bangladesh

Last updated: November 5, 2017

An apparel factory in Bangladesh. Photo: BBN file photo

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.

1,307 Accord-listed factories behind schedule

A total of 1,307 out of 1,624 Accord-listed readymade garment factories are behind the schedule in terms of fixing safety faults, a quarterly aggregate report of Accord on Fire and Building Safety in Bangladesh showed. According to the report of the platform of EU buyers and retailers, 62,329 safety faults (fire, electrical and structural) have been fixed in the factories up to October this year, which is 81 per cent of the total 87,431 faults identified during its initial inspection.

Bangladesh joins nuclear club

The Rooppur Nuclear Power Plant (RNPP) project on Saturday formally received the design and construction licence for its 2,400 megawatt (MW) nuclear power project from Bangladesh Atomic Energy Regulatory Authority (BAERA) on Saturday, reports UNB.  BAERA chairman Naiyyum Chowdhury formally handed over the licence to the chairman of Bangladesh Atomic Energy Commission (BAEC) Dilip Kumar Saha for RNPP project at a function at Sonargaon Hotel in the city.

Most banks post moderate earnings in Q3

Most banks have reported moderate earnings in the third quarter of the current year thanks to higher incomes from share market investments and credit growth. Of the 30 listed with Dhaka Stock Exchange (DSE), 19 banks made healthy earnings per share (EPS) compared to that in the same period last year. Four earned marginal returns while five saw a fall.

Bangladesh’s banks spread fall slightly in September

Overall spread in the country’s banking sector decreased slightly in September as the banks slashed their interest rates on lending more than that of deposits. The weighted average spread between lending and deposit rates offered by the commercial banks came down to 4.51 per cent in September 2017 from 4.53 per cent in the previous month, according to the central bank latest statistics.

Can Bangladesh increase its share of the pie?
As China’s relative share of global Readymade Garment (RMG) exports start to drop thanks to rising standards of living there, a number of nations are queuing up to grab the opportunity. As the second largest RMG exporter in the world, Bangladesh is naturally a front runner in this race. However, the country faces stiff competition from South Asian and South East Asian neighbours.

Private sector credit demand buoyant
Private sector credit growth stood at 17.8 percent in September in continuation of the high growth registered in the last few months due to increased demand for credit from the business community. Although the growth in September was 0.04 percentage points lower than a month earlier, the figure is still well above the target of 16.2 percent set in the monetary policy for the first half of the fiscal year.

Bhutan’s limestone powder may get DFQF market access to Bangladesh
Bhutan may get duty-free and quota-free market access for limestone powder export to Bangladesh, officials of the National Board of Revenue said. They said that the revenue board might declare the decision of offering the facility to the Himalayan kingdom at the third Bangladesh-Bhutan joint group of customs meeting to be held in Thimphu of Bhutan.
Onion prices again see upward trend in Dhaka
The prices of onion both at local and import levels increased slightly on Saturday due to lower supply of the essential in the market. The prices of per kg local onion was at BDT 80-90 on the day in the capital Dhaka from BDT 75-85 in the previous working day while the prices of imported onion was at BDT 60-70 from BDT 60-65, according to latest data, provided by the state-run Trading Corporation of Bangladesh (TCB).

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