Info Graphic: Dhaka Tribune
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.
BB move to cheer up stocks as well
The central bank's move to extend the deadline for lowering the banks' loan-deposit ratio will give a boost to the stock market, stakeholders said. “The decision will give a psychological relief to stockmarket investors,” said Khairul Bashar Abu Taher Mohammed, secretary general of Bangladesh Merchant Bankers Association.
Car sales triple in five years
Around 63 cars are sold in Bangladesh every day now – the highest in the country’s history – with the number of imported cars having increased threefold since the 2012-13 fiscal year. “Bangladesh imported around 11,476 cars in the last six months (July 2017- December 2017) to fulfil the growing public demand,” said Habib Ullah Dawn, president of the Bangladesh Reconditioned Vehicles Importers and Dealers Association (Barvida).
Lack of diversification challenge: BFTI study
Bangladesh Foreign Trade Institute has identified product and market concentration, lower productivity of workers and lack of mid-level professionals as major challenges for the readymade garment business in Bangladesh. Despite having potentials in Commonwealth of Independent States, Oceania and Latin American countries, high tariff and non-tariff barriers have been hindering the export of RMG to the regions, observed a BFTI study published on Tuesday.
ADB approves $360m loan to boost Bangladesh railway
The Board of Directors of the Asian Development Bank (ADB) has approved loans totaling $360 million to buy modern rolling stock and support reform in Bangladesh Railway to help promote a shift from roads to rail. The total cost of the project is $453.37 million, of which $93.37 will be met by the government. It is due for completion around the end of June 2022, an ADB statement said on Wednesday.
Bangladesh’s stocks end lower for fourth day
Bangladesh’s stocks ended lower for the four consecutive sessions on Tuesday as investors went on late hours selling spree. Analysts said the market maintained the bearish trend as cautious investors continued their selling binge amid ongoing liquidity shortage in the banking sector.
China gives nod to $3.14b loan for Padma rail link
The Chinese State Council, the highest policymaking body of the East Asian nation, has finally given the go-ahead to the $3.14 billion loan for the Padma rail link project, in what can be viewed as a massive thrust to the project's implementation. Of the 26 projects committed by China during its premier's visit to Dhaka in 2016, the rail link is the most pressing one, receiving the highest amount of loan.
Trade drops, so does Benapole’s revenue income
Bangladesh’s largest land port Benapole has been facing stagnancy in recent times as it is seeing a gradual decline in imports and revenue income. Trucks are stuck on the other side of Benapole with goods because of a syndicate.
BSEC okays Tk 30-cr IPO of SK Trims
The Bangladesh Securities and Exchange Commission on Tuesday approved SK Trims and Industries Limited’s proposal to raise Tk 30 crore from the capital market through an initial public offering. The pharmaceutical company will float its three crore shares at an issue price of Tk 10 each.
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