Dhaka, Bangladesh (BBN) - The Bangladesh Business News (BBN) prepares the morning business round up compiling reports, published by different newspapers and news portals in Bangladesh.
Baishakhi sales cheer boutiques, retailers: Fashion houses and boutiques are abuzz with shoppers who are buying clothes for their near and dear ones to celebrate Pahela Baishakh, the first day of Bangla New Year and the second biggest festival in the country. With political clouds clearing slowly, clothing retailers have registered 30 percent more sales this time than last year. “People are now on a buying spree as there is no political unrest,” said Azharul Haque Azad, president of Fashion Entrepreneurs Association of Bangladesh that represents more than 50 leading fashion houses. Political situation influences people's purchasing sentiment, said Azad, who is also the managing director of Shada Kalo, a leading fashion house.
$146.74m loans sought for 2 new hydro power units: The government has sought US$146.74 million concessional loans from donors to set up two new 100-megawatt (MW) capacity units at the Karnaphuli hydropower plant at Kaptai, officials said Saturday. Power Division officials said the state-owned Bangladesh Power Development Board (BPDB) had planned to set up 6th and 7th power units with 50MW capacity each at the existing Karnaphuli hydropower station site at Kaptai to boost its total generation using water resources.
Bangladesh’s apparel makers seek diplomats’ help for ensuing workplace safety: Country’s apparel makers have sought cooperation from foreign diplomats and development partners to build the ready-made garment (RMG) sector a safe and secured industry. The appeal was made at a meeting titled “Post Rana Plaza Initiatives and the Current Scenario of RMG sector” held in the capital Dhaka on April 10. The aim of the meeting was to update the ambassadors, high commissioners and donor agencies about the progress taken in the country’s RMG sector after the Rana Plaza tragedy.
Stocks pass mixed week: The market passed a mixed week, as investors were mostly focusing on multinational companies over corporate declarations and merger news. DSEX, the benchmark general index of Dhaka Stock Exchange, lost 28.49 points or 0.62 percent week-on-week to close at 4,592.73 last week. DSES, the shariah index of DSE, gained 11.75 points or 1.17 percent to finish at 1,020.22. Of the five trading sessions on the premier bourse, the market fell on three and rose on the rest. Preeminent large-cap companies, especially multinationals like Lafarge Surma Cement, Heidelberg Cement and Grameenphone, attracted the major flow of funds, leaving small-cap classes dry and offbeat, said IDLC Investments.
Three more garment factories closed in Bangladesh capital: A government panel has temporarily closed down three more garment factories in Dhaka after engineers hired by Western retailers' detected major structural flaws in the building, taking the total number of workers under threat of losing jobs to over 13,000 in the last one month. With the suspension of production in the factories — Four Wings Limited, Attuune Garments and Natural Apparel — at Mirpur in the capital on Friday, the number of total factories closed temporarily reached 10 in Dhaka and Chittagong. Two more factories were also closed partially for structural faults.
The government panel has ordered for, a 15-day closure of the three factories in an eight-storied complex in the capital city, according to Syed Ahmed, Inspector General of Department of Inspection for Factories and Establishments (DIFE). “The building is overloaded while structural flaws are also found there.”
BB eyes new project to back large, traditional export industries: Bangladesh Bank plans to lend low-cost loans from its ‘Export Development Fund’ to big exporting industries, bringing changes in the current regulations governing the fund that is only used to boost non-traditional export items. Any industries selling their goods abroad, besides readymade garment, leather or food, will be eligible for the fund to be charged two per cent interest, a senior BB official said. The facility will be made available under a proposed ‘financial sector support project’ to be financed jointly by the World Bank and the government, he added.
WiFi hotspots across the country soon: The government is planning to facilitate internet service to the mass people by setting up WiFi hotspots in different public areas across the country. As a result, educational institutions, union level markets, bus and launch terminals will come under the WiFi facility, according to the target of the project 'Development of National ICT Infra-Network for Bangladesh Government Phase 3'.
BBN/SSR/AD-13Apr14-8:28 am (BST)