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.
Appeal anew for GSP: exporters
Bangladesh should start negotiations with the new US government to get back the generalised system of preferences (GSP) and duty-free market access for apparel items, garment exporters said yesterday. Proving all media reports wrong, Republican candidate Donald Trump has won the US presidential election, which the local garment exporters termed as the beginning of a new era not only for the US economy, but also for Bangladesh’s trade ties with the North American country.
BB seeks info on demonetised Indian rupee notes
The central bank of Bangladesh Wednesday sought from all scheduled banks the relevant information about the volume of Indian rupee notes of 500 and 1000 denominations held by them. The notes were demonetised Tuesday night. “We’ve already contacted different banks, including the State Bank of India (SBI) operations in Bangladesh, over phone to know about holdings of their 500-and 1000-denomination Indian currencies,” a senior official of the Bangladesh Bank (BB) told the FE Wednesday.
Bangladeshi travellers, money exchange firms holding rupees in trouble
Bangladeshi travellers, who intend to go to India and have Indian rupees in their possession, and foreign exchange houses plunged into trouble after the Indian government scrapped its large-denomination currency notes of Rs 500 and Rs 1,000 from Tuesday midnight. Indian prime minister Narendra Modi announced in a televised address that all 500- and 1,000-rupee notes had no cash value but could be exchanged by taking lower denomination notes at banks in India by December 30 as an initiative to unearth black money.
Will Trump’s victory affect US-Bangladesh trade tie?
Bangladesh’s trade relation with the United States is likely to remain as usual despite the winning of Republican leader Donald Trump in US election 2016 because the change of power will not bring any change in foreign policy and economic diplomacy, say economists and business. Democrat President Barak Obama ruled the United States for the two terms and it is believed that with the change of leadership, Bangladesh may face fresh challenges while exporting goods to the US market.
Bangladesh’s stocks return to red
Bangladesh’s stocks finished lower on Wednesday, after remaining flat in the past two days, as the pessimistic investors continued on profit booking mood on sector specific stocks. The market started with a negative note which sustained till end of the session despite tried to recover in the mid-session, ultimately ended nearly 20 points loss. At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), finished at 4,671.26, shedding 19.81 points or 0.42 percent over the previous session.
China offers $11b to build Dhaka-Ctg expressway
The government has decided to construct an expressway on the Dhaka-Chittagong highway under the Bangladesh Bridge Authority (BBA) after the Chinese government offered US $ 11 billion for the construction of over 200km speedy route with the option of speedy train service.
Edotco gets BTRC nod to get independence from Robi
The telecom regulator has allowed Edotco Bangladesh, a tower business company, to gain independence from its parent company Robi by buying back majority shares of the company. Bangladesh Telecommunication Regulatory Commission officials said they allowed Edotco to buy back 31 per cent shares of the company which make Edotco’s total holding in Bangladesh operation to 80 per cent. Earlier, Robi held 51 per cent share in the company and Edotco held 49 per cent, both the companies being owned by Axiata Group of Malaysia.
Govt plans to scale up investment facilities
The government has planned to increase investment facilities by taking $300 million loan from the World Bank to bring pace in the private investment, said officials at the finance division yesterday. “World Bank is keen to provide funds to scale up private investment facilities over the last one year. So, we have agreed to take $300 million loan, including $100 million in development of private businesses under the Investment Promotion and Financing Facility,” said an official.