Dhaka, Bangladesh (BBN) – The BBN (Bangladesh Business News) prepared the business round up compiling reports, published by different newspapers and news portals Sunday’s midday in Bangladesh.
WB forecasts 6.4% growth in 2018 for Bangladesh
South Asia remains the fastest-growing region in the world with Bangladesh sustaining growth at 6.8 percent in 2017, gradually widening its lead relative to East Asia, according to a latest report of World Bank. Regional GDP growth of South Asia is expected to rise from 6.7 percent in 2016 to 6.8 percent in 2017, and 7.1 percent in 2018, according to the report.
Bangladesh Bank sells $13m to Rupali Bank
The central bank has sold US$13 million to Rupali Bank Limited directly to meet the growing demand for the greenback in the market, officials said “We’ve sold the US dollars to the state-owned commercial bank (SoCB) at market rate on Thursday to settle their import payment obligations practically for petroleum products,” a senior official of the Bangladesh Bank (BB) told BBN in Dhaka on Sunday.
Bangladesh Taka remains stable against US dollar
The exchange rate of Bangladesh Taka (BDT) against the US dollar in the inter-bank foreign exchange market remained almost stable in early hour transactions on Sunday. The US dollar was quoted at maximum BDT 79.80 unchanged from the previous level till the report was filed at 12:01 pm (local time).
Market capitalisation of top 6 Indian companies falls
Six of the 10 most-valued Indian companies saw a cumulative erosion of Rs. 47,463 crore in market valuation last week, with TCS and RIL taking the hardest knock. IT major TCS’ market capitalisation (m-cap) tumbled as much as Rs. 19,556.5 crore to Rs. 4,58,686.07 crore, the worst hit in the group, reports The Hindu Business Line quoting the PTI.
Bangladesh’s stocks stay down at midday
Bangladesh’s stocks stayed down at midday on Sunday as risk-averse investors continued on selling shares. Following the previous week’s major correction, the key index of the country’s prime bourse fell 15.36 points within first 15 minutes of trading at 10:45am.