Bangladesh, Dhaka (BBN) – Bangladesh Business News prepares Wednesday’s evening business round up compiling reports, published by different newspapers and news portals.
World Bank projects 1.6pc GDP growth in 2021, Kamal refutes
World Bank on Wednesday projected that Bangladesh’s gross domestic product would grow by 1.6 per cent in 2021. Finance minister AHM Mustafa Kamal, however, dismissed WB latest forecast about the country’s economic growth while commenting on it after meetings of the cabinet committee on national purchases and economic affairs. He said WB projection should be undermined.
Asia-Pacific markets mixed
Markets across Asia-Pacific were mixed on Wednesday, as developments turned the focus on Chinese tech giants and regional energy stocks. Shares of Chinese tech giants Tencent and Alibaba were monitored by investors on Wednesday after U.S. President Donald Trump signed an executive order banning transactions with eight Chinese software applications. That included WeChat Pay and Ant Group’s Alipay. The order is only set to go into effect after Trump leaves office. The broader Asia-Pacific markets were mixed. In mainland China, the Shanghai composite was up 0.63% on the day to 3,550.88 while the Shenzhen component gained 0.264% to close at 15,187.61. Hong Kong’s Hang Seng index finished its trading day 0.15% higher at 27,692.30.
Oil hits 11-month high after Saudi Arabia pledges voluntary output cut
Oil prices rose on Wednesday to their highest since February 2020 after Saudi Arabia agreed to reduce output more than expected in a meeting with allied producers, while industry figures showed U.S. crude stockpiles were down last week. Brent crude rose as much as nearly 1% to $54.09 a barrel, the highest since Feb. 26, 2020. It was at $53.87 a barrel at 0536 GMT after jumping 4.9% on Tuesday.