Dhaka, Bangladesh (BBN) – The BBN has prepared the morning business round up compiling reports, published by different newspapers and news portals in Bangladesh.
BBs second strategic plan targets inclusive growth
The Bangladesh Bank (BB) launched Saturday its second Strategic Plan (2015-2019) that, it expects, would contribute to the task of achieving sustainable and inclusive growth and maintaining financial stability. BB governor Dr. Atiur Rahman formally unveiled the five-year plan at the bank’s training academy at Mirpur. The plan, he said, will help the bank uphold its mandate as a central bank of the country and achieve Vision 2021 of the government as well.
USTR reviews workplace safety progress
A delegation from the Office of US Trade Representative or USTR yesterday reviewed Bangladesh’s progress in workplace safety measures in the garment sector, which is tied to the restoration of trade privileges. Michael J Delaney, assistant USTR for South and Central Asia and head of the eight-member team, held meetings with three secretaries — foreign, commerce and labour in Dhaka — to review the measures taken by the government under the Bangladesh Action Plan.
BD ranks 16th in Brookings financial inclusion
Bangladesh has been ranked 16th of 21 countries on its financial and digital inclusion efforts, according to the 2015 Brookings Financial and Digital Inclusion Project (FDIP) report. The Brookings Institution is a nonprofit public policy organisation based in Washington, DC. Kenya has ranked one, followed by South Africa and Brazil. Ethiopia came last on the list.
Bangladesh’s forex reserve crosses $26b mark again
Bangladesh’s foreign exchange (forex) reserves crossed US$26-billion mark again on Thursday largely due to lower import-payment pressure on the economy, officials said. The reserves of the international trading currency amounted to $26 billion on the day from $25.78 billion of the previous working day. It was $26.03 billion on August 17 last.
BB launches floating rate for new short-term govt securities
Bangladesh Bank has introduced a floating interest rate for the first time in the country to facilitate issuance of short-term government securities as well as to encourage individual and corporate investors to invest in the instruments at the secondary bond market. The interest rate named ‘Bangladesh Compounded Rate’ (BCR) will act a reference rate for setting interest rate for the upcoming short-term government securities. The BCR will be set on the market demand on the daily basis.
Bangladesh Bank buys $125m more from nine banks
The central bank of Bangladesh purchased US$125 million more from nine commercial banks on Thursday to help keep the inter-bank foreign exchange (forex) market stable, officials said. “We’re purchasing the US currency from the bank directly at market rate to protect the interests of exporters and migrant workers by keeping the exchange rate of the local currency against the US dollar stable,” a senior official of the Bangladesh Bank (BB) told BBN in Dhaka.
Develop Ctg to boost garment exports: economists
Bangladesh will not be able to emerge as a middle-income country and achieve the $50 billon garment export target without prioritising development of Chittagong, a leading economist said yesterday. “We cannot achieve the $50 billon export target without opening and widening a second hub for the sector in Chittagong after its huge growth in Dhaka and its adjoining areas,” said Hossain Zillur Rahman.
Bangladesh’s stocks break three-week losing spell
Bangladesh’s stocks returned to the green zone last week that ended on Thursday, after remaining down in the previous three weeks as investors showed buying appetite in large cap stocks. The week witnessed five trading sessions as usual. Of them, four sessions closed higher while one session saw marginal correction. The benchmark index of the Dhaka Stock Exchange (DSE) went up by 59.31 points or 1.25 percent to close the week at 4,819.45 points over the previous week.