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.

Delhi attaches further stringent conditions
India has tagged new conditions, including her mandatory approval for procurement of goods and services for the implementation of projects in Bangladesh with the proposed $4.5 billion Indian line of credit. Officials said that the ministries and divisions would need to seek approval from the Indian government for each of the project components separately as stated in the draft loan agreement forward by New Delhi to Dhaka in August.

WB funds for bankrolling BD dev becoming costlier
Status change entails a cost as the World Bank is going to make lending to Bangladesh much costlier, with interest rates rising above 2.0 per cent, for the country’s economic graduation. Officials said Saturday the multilateral development financier would raise the cost of funds from next financial year (FY) 2018-19, after a long time of concessional assistance for bankrolling Bangladesh’s development recipe.

BoP hits deficit for first time in 16yrs
Bangladesh’s balance of payments entered the negative territory for the first time in 16 years in July on the back of a wide mismatch in trade. The overall balance was $179 million in the deficit in the first month of fiscal 2017-18 against $480 million in the surplus a year earlier.

Bangladesh Taka gains against US$ significantly
The exchange rate of local currency gained significantly against the US dollar at the customer level on Thursday following persuasion by the central bank. The Bangladesh Taka (BDT) appreciated by 0.36 per cent or around 30 paisa against the US currency for clearing import payment obligations, according to the market operators.

Bangladesh’s stocks pass another eventful week
Bangladesh’s stocks passed another eventful week that ended Thursday with the prime index of the major bourse crossing the 6,200-mark for the first time since its inception in January 2013. Market insiders said the capital market passed another eventful week and the investors are exhibiting bullish mentality amidst increased fund flow towards the market.

RMG export shines in Jul-Aug on strong euro
Bangladesh’s readymade garment export to its major destinations including the European countries, United States and Canada achieved significant growth in the first two months of the current financial year 2017-18. But the export earnings from the Asian countries including Japan, China and India declined in the period.

NBR bins plan to purchase electronic cash registers
The National Board of Revenue has abandoned plans to buy electronic cash registers (ECR) and distribute them among retailers and wholesalers. Instead, the revenue authority plans to enlist importers, offer duty-free benefits and ask shopkeepers to install the devices for recording sales data electronically, senior officials of the NBR said.

FPI drops 84% in Bangladesh’s prime bourse in August
The net foreign portfolio investment (FPI) in the country’s prime bourse dropped by 84 per cent in August last over that of the previous month. The net FPI came down to BDT 320 million in August 2017 from BDT 2.0 billion a month ago, according to the statistics from the Dhaka Stock Exchange (DSE).

BBN/SSR/AD