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.
Interest on WB funds to double
The cost of funds that Bangladesh gets from the World Bank is likely to double the next fiscal year, thanks to a rise in the country’s per capita income. Bangladesh is set to graduate from its current “IDA-only” status to the “gap” status since its gross national income per capita crossed the $1,165-mark last fiscal year and is on course to repeating it this year too.
Multinationals to pass decision on offloading shares to parent companies
The Ministry of Industries (MOI) has asked multinational companies, including Unilever Bangladesh Ltd, to place proposals to their parent firms to offload their shares, an inside source has confirmed. The decision was taken at a meeting with representatives of multinational companies presided over by MOI Senior Secretary, Md Mosharraf Hossain Bhuiyan. In addition to Unilever Bangladesh, Sanofi Bangladesh Ltd and Novartis Pharma Ltd were also present.
BD performance in financial inclusion not impressive
Bangladesh lags behind neighbouring India and Pakistan in attaining financial inclusion of people from various social strata, according to a survey. The country ranked 19th, scoring 66 in the ratings, out of 26 countries in the global financial inclusion report. The US-based Brookings Institution, which has been releasing the Brookings Financial and Digital Inclusion Project Reports (FDIPs) since 2015, said Bangladesh’s rank remained same as that of last year.
Prices of fine-grade rice rise after Eid
The prices of fine-grade rice increased on both wholesale and retail markets in capital Dhaka after Eid-ul-Azha that was celebrated on Saturday. Retailers said that the prices of Miniket rice and BR-28 rice increased by Tk 2 a kilogram on the retail markets as the wholesale prices of the items soared by Tk 100 a bag (50 kg) after Eid.
Bangladesh stocks extend winning streak for eight days
Bangladesh’s stocks extended the winning streak for the eight consecutive sessions on Tuesday with daily trade turnover on the prime bourse hitting one month high as investors continued their buying spree. After hitting new high of the prime index of the major bourse in the previous day, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened optimistic amid rising trading activities.
Flow of hides to Savar yet to gain pace
The newly constructed Savar leather estate, where tanners relocated from their age-old Hazaribagh industrial hub in April, is witnessing for the first time the annual arrival of a steady stream of trucks carrying rawhides of animals sacrificed during Eid-ul-Azha. Truck arrival numbers are low although four days have passed since Eid, the estate Deputy Manager Moin Uddin told The Daily Star over the phone yesterday, reasoning that tanners were yet to start purchasing rawhides in full swing from merchants.
APSCL seeks to build power plant at Pyra
The Ashuganj Power Station Company Limited (APSCL) will build a 1320-megawatt (MW) capacity coal-fired power plant at Pyra port area as it will start developing land this year for the project, officials said. “We’ve has recently sought approval of a Tk 8.52 billion project from the Planning Commission (PC) for developing the land at the proposed site for the 1320MW plant in Pyra,” Managing Director of the company Engr. AMM Sazzadur Rahman told the FE.
Govt moves to set up dairy development board
The government has taken a move to form a dairy development board for bolstering the growth of the dairy sector, promoting production of milk and dairy products as well as developing entrepreneurship in the sector. The Ministry of Fisheries and Livestock has already finalised the draft of a law, Bangladesh Dairy Development Board Act-2017, to facilitate formation of the board.