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.
Bangladesh’s export to grow 8pc this year: HSBC
Bangladesh’s exports will grow by 8 percent in 2019 and 7 percent next year, according to an analysis by the Hongkong and Shanghai Banking Corporation Limited (HSBC). The projection is some way off the 10.55 percent clocked in fiscal 2018-19. “Bangladesh’s outlook for exports has remained bright despite the global trade tensions,” said Douglas Lippoldt, chief trade economist of the HSBC.
Boro production hits record 2.04cr tones
The country’s farmers produced record 2.04 crore tonnes of boro rice during the 2018-19 crop season, according to the Department of Agricultural Extension. DAE officials said the boro production was estimated by government agencies including Bangladesh Bureau of Statistics and Space Research and Remote Sensing Organisation.
Private sector credit growth falls further in August
Bangladesh’s private credit growth decreased further in August as some banks had to prepare for complying with the central bank’s revised advance-deposit ratio rules. Lower import growth also pushed down the private sector credit growth last month, according to bankers.
Robi to get enlisted soon, says BSEC chief
Bangladesh Securities and Exchange Commission (BSEC) Chairman M Khairul Hossain said on Monday that mobile phone operator Robi expressed its intention to get listed on the country’s stock market. Speaking as chief guest of the inauguration ceremony of “The World Investor Week 2019” at the Securities Commission building in the capital.
Bangladesh’s stocks fall again after two-day rises
Bangladesh’s stocks slipped into the red on Monday, snapping a two-day winning streak, as risk-averse investors went on selling binge on large-cap shares. Investors remained worried about the volatility of the market and adopted a cautious stance, taking the index to the red territory, market experts explained.
NBR seeks curb on errant importers
The National Board of Revenue has requested the central bank to ask banks not to open letters of credit in favour of any importers who skipped updating business identity. Importers are required to renew Business Identification Number after October 31.
BO accounts drop off in lakhs as investors bolt
In 2016, Masum Ahmad, an accountant who dabbles in the stock market on the side, had as many as seven beneficiary owner (BO) accounts in the name of his family members. Now, he has only two such accounts, which is a must to buy and sell stocks.
Govt scales up OMS onion sale
The government has augmented the sale of onion by increasing the number of OMS spots to 35 in the capital in a bid to rein in price spiral of the essential kitchen item. The prices kept rising in kitchen markets for the past several weeks due to India’s decision to curb exports, the major source of the item for Bangladesh.
BBN/SSR/AD