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.
Bangladesh trade deficit widens 36.34% in seven months
Bangladesh’s overall trade deficit widened by 36.34 per cent in the first seven months of the current fiscal year (FY) following higher growth of import payments than export earnings, officials said. The trade gap rose to $5.28 billion during the July-January period of the FY 2016-17 from $3.87 billion in the same period of the last fiscal, according to the central bank’s latest statistics. Talking to BBN, a senior official of the Bangladesh Bank (BB) said the trade gap may widen further in the coming months if the existing slower growth of export earnings compared to import payments continue.
Public debt swells to Tk 2.78t until Dec
Recourse to resource mobilisation from non-bank sources pushed up domestic public debt by nearly 17 per cent in six months to Tk 2.78 trillion until December. During the six months, according to official findings, government borrowing from the banking system marked a negative growth for the switch to non-bank borrowing. People familiar with the financial market told the FE such divergence from banking to non-banking sources impacts the debt-market development.
Women run two branches of Southeast Bank
Once it was rare that women were working in the banking sector. But time has changed now as banks not only recruit women as employees but also have introduced specialised products for women whether they are entrepreneurs, executives or housewives. Southeast Bank has gone one step further and set an example as two of its branches are entirely run by female employees. From security guards to branch manager, all posts are held by women.
Study: 10% rise in women workforce to raise Bangladesh GDP by 1%
If Bangladesh can raise the participation of women in labour force by 10% within the next five years, it would play a pivotal role in driving the GDP growth by 1%, experts have said. “Currently, the contribution of women workforce in our GDP growth is 34%,” said World Bank lead economist Dr Zahid Hossain, reports BSS. He said the participation of women in workforce would take the country forward in attaining higher GDP growth in line with achieving the Sustainable Development Goals (SDGs) by 2030.
Bangladesh’s stocks end higher for 2nd day
Bangladesh’s stocks extended their winning spell for the second running session on Tuesday amid increased turnover as enthusiastic investors continued their buying spree. The market started with an upbeat note and the upward trend continued till end of the session with no sign of reversal, ultimately ended 33.66 points higher. Key index of DSE went up by 33.66 points while the Selective Category Index of port city bourse advanced 62.02 points at the closing.
Trading in treasury bonds on DSE shortly
Country’s prime bourse moves to develop a modern platform for trading in treasury bonds as an alternative new source of long-term financing for both government and corporate entities. The Dhaka Stock Exchange (DSE) sought help from the central bank in a meeting Tuesday with Bangladesh Bank (BB) Governor, Fazle Kabir, in making the platform operational shortly, according to sources.
MCCI urges govt to review gas price hike
The Metropolitan Chamber of Commerce and Industry on Tuesday requested the government for reviewing the recent hike in gas price considering the negative impact of the decision on export competitiveness, production cost, inflation and overall economic activities. In a press statement issued on the day, the leading chamber of the country said the gas price hike would increase the cost of production, transportation and other costs, as well as cost of agriculture and consumer goods which will push up inflation.
Alliance announces six more factories compliant
The Alliance for Bangladesh Worker Safety – a platform of North American buyers – has announced that another six RMG factories, which supply products for its signatory brands, have completed Corrective Action Plans (CAPs). As of Tuesday, the number of companies that completed CAPs stood at 68. In addition, the Alliance has dropped seven new factories from its compliant list, bringing the total number of factories suspended to 134.