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 sustains 6.4% share in global clothing market
Bangladesh’s share of the global clothing market rose again in 2016 as the country sealed its place as the second largest exporter of apparel products – despite sluggish export growth and lacklustre demand. According to the World Trade Statistical Review 2017 released on Friday by the World Trade Organisation (WTO), Bangladesh’s global market share in clothing rose to 6.4% in 2016, an increase of 0.50% over the previous year.
Remittance inflow rises by 11 per cent in July
The monthly remittance inflows increased by almost 11 per cent to $1.12 billion in the first month of the current fiscal year 2017-18 compared with the same month of the last FY 2016-17. In July last year, the amount of inward remittance was $ 1 billion. Bangladesh Bank officials termed the trend as positive after passing a disappointing last fiscal year in remittance earnings with negative growth by 17 per cent.
ICAC sees cotton prices uncertain in 2017/18
International Cotton Advisory Committee (ICAC) sees the cotton prices in the global market uncertain in 2017/18. The ICAC also forecasts that the A Index in 2017/18 will range between 54 cts/lb and 87 cts/lb with a midpoint of 69 cts/lb. The midpoint would be 13 cts/lb lower than in 2016/17. This follows the large increase of 12 cts/lb from 2015/16 to 2016/17, which suggests that such a drop is not unreasonable, the ICAC said in its latest report, released on Tuesday.
City Bank’s half-yearly profits fall
City Bank’s net profit fell 5.3 percent year-on-year to nearly Tk 191 crore in the first half of 2017, the first generation lender said yesterday. The bank’s earnings per share went down to Tk 2.18 in January-June from Tk 2.30 in the same period a year earlier. Sohail RK Hussain, managing director of City Bank, disclosed the performance of the bank at a media briefing at its headquarters in Dhaka.
Banks may add corporate bonds investment as asset
The central bank of Bangladesh is likely to allow commercial banks to include their investments in the corporate bonds as high-quality liquid asset under liquidity coverage ratio (LCR) of Basel-III framework. Bangladesh Bank (BB) made such observations on Tuesday at a coordination meeting of major watchdog bodies, namely the Bangladesh Securities and Exchange Commission (BSEC), the Office of the Registrar of Joint Stock Companies and
Agrani not closing loss-making exchange house in Canada
The board of directors of Agrani Bank now wants to keep running its loss-making money exchange house in Canada, for which it earlier received regulatory approval to shut it down. Since its inception in 2014, the Agrani Remittance House Canada incurred a loss of $308,448 and brought in $3.5 million in remittance to Bangladesh.
DSE turnover crosses BDT 12 billion-mark
Daily trade turnover on Dhaka Stock Exchange (DSE) scaled BDT 12-billion mark on Tuesday after two weeks as investors put fresh stakes on stocks. Turnover, a crucial indicator of the market, stood at BDT 12.37 billion on the country’s premier bourse, climbing further by 6.10 percent over previous day’s mark of BDT 11.66 billion.
BB advises BTRC to lower USSD, SMS prices for MFS
Bangladesh Bank on Tuesday requested Bangladesh Telecommunication Regulatory Commission to take initiative for bringing down the prices of unstructured supplementary service data (USSD) and short message service (SMS) to a logical level to facilitate banks’ mobile financial services. The central bank made the request at a coordination meeting among financial market regulators held at the BB headquarters in the capital, Dhaka.