A worker is working at a RMG factory in Bangladesh. Photo: BBN
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.
Buyers offer Bangladesh lower RMG prices despite rise in green factories
Global brands and buyers are gradually offering lower prices for readymade garment products to Bangladeshi factories although the number of green factories has increased considerably in the country in the last few years, according to the Bangladesh Garment Manufacturers and Exporters Association. The BGMEA on Saturday gave a presentation at a discussion on ‘RMG Industry: Green Growth’ held at the public relations and media centre of the trade body at Gulshan in the capital.
Stingy listed companies sap investor spirit
Most of the listed companies are keeping the majority of their profits instead of sharing the spoils with their shareholders in the form of cash dividends -- in yet another reason for the currently low confidence in the stock market. Typically, investors put money in a stock after analysing the company’s earnings. But their efforts go in vain if the companies become tight-fisted when it comes to cash dividends.
0.23m BO A/C closed in Bangladesh last year
Some 0.23 million (234,503) beneficiary owners’ (BO) accounts were closed in last 12 months since January 23, 2019 due to non-payment of maintenance fees, regulatory move and depressed capital market outlook. The number of active BO accounts came down to 2,578,283 as of January 23, 2020 from 2,812,785, just a year ago, according to the Central Depository Bangladesh Ltd (CDBL).
Export business costs women higher than men
The cost of doing business in the export sector is higher for women entrepreneurs than their male counterparts due to high cost of obtaining licences and certificates through regular channel, shows a survey. The survey was jointly conducted by the International Finance Corporation (IFC) of the World Bank Group, and the Business Initiative Leading Development (BUILD).
Govt. bank borrowing crosses BDT 500b
The government’s net bank borrowing crossed BDT 500 billion until middle of this month, compelled by the need for meeting budget deficit. Falling trend in sales of national savings certificates coupled with a shortfall in revenue collection has led to higher debt from the banking sector during the period. The government’s combined net bank borrowing reached BDT508.42 billion at the end of January 15 of the current fiscal year.
REB's goal goes haywire
The state-run Rural Electrification Board, or REB, has failed to ensure full electricity coverage in the countryside during the last three years, officials said on Saturday. This has prompted the company to seek another two years to reach the goal. While a total of 361 upazilas have come under the full electrification network, 100 per cent have yet to be covered, according to the REB.
IDLC becomes kitchen market vendors’ white knight
Shahinur Parvej, who owns a grocery shop in the capital’s Mirpur area, never thought he would require a loan from any bank or non-banking financial institution (NBFI) to expand his business. However, his stance has now changed. “My total investment is about Tk 25 lakh. I dream of widening my business but it will not be possible without financing from banks or NBFIs,” said Parvej, whose grocery shop is located at a kitchen market in Mirpur-6.
Weekly Review: Bangladesh’s stocks rebound strongly
Bangladesh’s stocks rebounded strongly in the outgoing week, snapping a two-week losing streak amid growing investors’ confidence to the market. Week on week, DSEX, the prime index of the Dhaka Stock Exchange (DSE), soared 364 points or 8.77 per cent to settle at 4,513, after hitting a 56-month low.
BBN/SSR/AD