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.
Garment sector lashed by giant waves
A tale of two halves sums up best how the garment sector, Bangladesh’s main export earner, fared in 2019. In the first six months of the year, apparel shipments fetched $17.05 billion. And the trend continued into fiscal 2019-20, which began on July 1.
Banks to cut in lending rates to 9.0% from Apr 01
The banks, particularly the private commercial banks (PCBs), have agreed again to bring down their interest rates on all loans, except on credit cards, at 9.0 per cent from the existing level from April 01, 2020, instead of January 01. The banks also decided that the interest rate on deposits will be brought down to maximum 6.0 per cent instead of the existing level from April 01.
Falling exports, slow pvt credit major weaknesses
The country’s businesses identified negative export growth, revenue shortfall, falling private sector credit growth, rising levels of default loans and heavy government bank borrowing as major worries for the economy in the outgoing year, 2019. They also cited a raft of challenges that lie ahead in 2020.
DSE launches electronic info disclosure system
The Dhaka Stock Exchange on Monday launched the electronic information disclosure and dissemination process for listed companies to ensure accuracy and transparency. The system will be introduced first on the DSE SME platform and later it will be incorporated in the main board of the bourse.
Bangladesh’s stocks end year on positive note
Bangladesh’s stocks ended on Monday, the last trading session of the outgoing calendar year, with positive note as investors showed their appetite for selective large-cap stocks. DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 18.98 points or 0.42 per cent to end the year at 4,452. However, DSEX lost more than 933 points or 18 per cent in the outgoing calendar year.
Asset managers crying out for funds
As many as 39 percent of the asset management companies (AMCs) are failing to attract funds from investors thanks to thinning confidence on fund managers and the stock market. The AMCs form mutual funds by attracting money from individuals and corporate investors to put them in stocks, bonds and other assets.
Looking back 2019: A sputtering stock market bleeds all the way
Morning shows the day, so says the proverb, but this does not hold true when it comes to the performance of the Dhaka Stock Exchange (DSE) in the outgoing year. The DSEX, the benchmark index of the country’s premier bourse, concluded the year, shedding 1,012.32 points,497 points despite a sharp rise in January.
BEPZA seeks continuation of VAT, SD waiver on import of 42 types of goods
The Bangladesh Export Processing Zone Authority has demanded the continuation of value-added tax and supplementary duty exemption on import of 42 types of goods by investors in the country’s export processing zones through issuance of a statutory regulatory order. The EPZ investors had been enjoying the benefits since April 2017 until the benefits were scrapped in the budget for the current fiscal year 2019-2020 following implementation of the new VAT and SD Act-2012.