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.
Govt seeks opinions of central bank, BSEC
The Ministry of Finance (MoF) has sought opinions from the central bank and the securities regulator on a loan amount of Tk 100 billion (10,000 crore) sought by stock brokers to shore up the moribund stock market. The chairman of the Bangladesh Securities and Exchange Commission (BSEC) confirmed to the FE the receipt of the letter sent by the MoF.
$50b export not achievable by 2021: BGMEA president
Bangladesh will not be able to export $50 billion-worth apparel products by 2021 because of low valuation and declining global trade, according to Rubana Huq, president of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), yesterday. “We should concentrate more on value addition rather than setting numbers (export target),” she told a programme on the resilience of the RMG sector’s supply chain organised by the Planning Commission at Bangabandhu International Conference Center.
Kamal against devaluation of taka
Finance minister AHM Mustafa Kamal on Wednesday ruled out any further devaluation of the local currency saying that it would escalate the cost of development projects and discourage foreign direct investment. He made the announcement in response to a question about government steps for bringing down the lending rate to a single digit.
BDT appreciates against US$ after three years
The Bangladesh Taka (BDT) appreciated by two poisha against the US dollar on Wednesday after nearly three years in the inter-bank foreign exchange (forex) market. The US dollar was quoted at BDT 84.88 per unit on the day against BDT 84.90 of the previous working day, according to the market operators.
Japan wants cash incentive for its exporters in EPZs
The Japanese garment factories, which are housed inside Bangladesh’s export processing zones (EPZs), should enjoy cash incentives against exports to emerging destinations, said Naoki Ito, newly appointed Japanese ambassador to Bangladesh, yesterday. The apparel companies, which are outside of EPZs, enjoy 4 percent cash incentive on export to non-traditional markets but the Japanese companies are not getting this benefit, he said.
Govt in bank borrowing spree, takes Tk 47,139cr in 5 months
The government has almost exhausted its net borrowing target for the fiscal year of 2019-20 from the banking system in just five months (July-November) with the net borrowing reaching Tk 47,139 crore in the period, leaving a very tiny space for the industrialisation-led job creation. The government has projected to borrow Tk 47,364 crore from the banking sector in the fiscal year.
Effectiveness of dev funds is crucial to achieve SDGs
Ensuring the effectiveness of development funds spent by the government was crucial to achieve the sustainable development goals, said speakers at a conference on Wednesday. They also said social efforts were needed to bring the grassroots participants alongside the civil society to strengthen the inclusiveness of the SDG programs.
DSE turnover dips to six-month low
The daily trade turnover on the Dhaka Stock Exchange (DSE) fell to six months low on Thursday as investors were reluctant to make fresh investment in stocks amid ongoing bearish trend. Turnover, a crucial indicator of the market, stood at BDT 2.54 billion on the country’s premier bourse, slumping further by 9.60 per cent over previous day’s mark of BDT 2.81 billion.