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.
DSE jumps over Tk 21b mark
Daily trade turnover on Dhaka Stock Exchange (DSE) jumped over a Tk 21-billion mark Monday with investors putting higher bets on blue-chip stocks, amid a fresh buzz on the bourse. It marks a new high after over six years, since the country’s stock market had developed bubbles that soon burst. Economists and government high-ups find reasons for the present bullish trend in the trading in stocks because of economic fundamentals of the country and recent supply of some good securities.
Budget promises continue to remain undelivered
The government managed to spend 76 percent of its budget in fiscal 2015-16, which is in keeping with the past trend of having a sizeable amount of unused funds at the yearend. Some Tk 225,051 crore was spent last fiscal year against the budget of Tk 295,100 crore, according to data from the Finance Division. Officials of the finance and planning ministries blame the poor implementation of the development works for the failure to exhaust the budget.
Jute packaging made mandatory for 11 more products
The government has made jute packaging mandatory for 11 more products to boost domestic use of the golden fibre following the imposition of anti-dumping duty by India on Bangladeshi jute and jute goods. India on January 5 imposed, to the Bangladeshi exporters’ dismay, anti-dumping duty ranging from $19 to $352 a tonne on import of jute and jute goods from Bangladesh. The textile and jute ministry on January 21 issued a gazette notification amending the Mandatory Jute Packaging Rule-2013 and making use of jute bags for the agricultural products mandatory.
Tofail hopes Australia will lift ban on cargo from Bangladesh
Commerce Minister Tofail Ahmed is optimistic the Australian government would lift ban on freight from Bangladesh as the latter has appointed a British firm to improve security at the airport. In December 2016, the Australia authorities imposed ban on air shipment from Bangladesh, Syria, Egypt, Yemen and Somalia for security reasons. The minister came up with the remarks after a views exchange meeting with Julia Niblett, Australian High Commissioner to Bangladesh, yesterday.
Lending to farmers grows 13pc in H1
Lending to farmers grew over 13 per cent or Tk 11.77 billion in the first half (H1) of this fiscal following prod to bankers by the central bank for catering higher demand for funds in the farm sector, officials said. The disbursement of farm credits rose to Tk 99.33 billion in the July-December period of the FY 2016-17 from Tk 87.56 billion in the same period of the FY16, according to the Bangladesh Bank (BB) latest statistics.
BB to announce new monetary policy Jan 29
Bangladesh Bank is going to announce its monetary policy for the January-June period of this year on January 29, said officials of the central bank. A BB official told New Age on Monday that the central bank might keep unchanged the private sector credit growth target in the upcoming monetary policy considering the existing lower credit demand from the private sector amid ongoing sluggish business. Under the monetary programme for the financial year 2016-17, the central bank set a 16.60-per cent credit growth target for the private sector by December 2016 and 16.50 per cent by June 2017.
Summit Communications gets initial approval to go public
Summit Communications received the green light from the telecom regulator to go for initial public offering. The country’s leading end-to-end infrastructure support provider and gateway operator got the no-objection certificate at a recent meeting of Bangladesh Telecommunication Regulatory Commission. Summit Communications is one of the two private companies that are responsible for providing nationwide telecom transmission network service across the country.
Protests in Bangladesh shake a global workshop for apparel
At first, the police knocked. Then they tried to kick the door down. Protests over low wages had erupted at dozens of garment factories in Bangladesh, one of the top suppliers of clothing for global brands like H&M and Gap, and the officers had come to question Jahangir Alam, the president of a local trade union in Ashulia, a suburb of the capital, Dhaka, reports The New York Times. They told his wife that he would be back within a few hours. That was a month ago.