Bangladesh, Dhaka (BBN) – Bangladesh Business News prepares Wednesday’s evening business round up compiling reports, published by different newspapers and news portals.
Inflation dropped to 5.02% in January
Bangladesh has recorded 5.02% inflation in January. The latest rate is 0.27 lower compared to 5.27% of December last year, read a report compiled by the Bangladesh Bureau of Statistics (BBS). The report also revealed that food inflation stood at 5.23% in the country, while nonfood inflation was 4.69% in January.
EIU’s Democracy Index: Bangladesh moves 4 notches up
Bangladesh has ranked 76th on the Economist Intelligence Unit’s Democracy Index 2020 — four notches up from last year. Bangladesh is still classified in the “hybrid regime” category, which means that substantial irregularities often prevent the elections from being free and fair, according to the report by the research and analysis division of the Economist Group. The report also includes “Government pressure on opposition parties and candidates may be common. Serious weaknesses are more prevalent than in flawed democracies — in political culture, functioning of government and political participation. Corruption tends to be widespread and the rule of law is weak. Civil society is weak. Typically, there is harassment of and pressure on journalists and the judiciary is not independent,” as part of its definition of a hybrid regime.
AstraZeneca vaccine can slow the spread of Covid, and delayed second dose works, Oxford data shows
The U.K.’s decision to delay the second shot of the AstraZeneca-University of Oxford coronavirus vaccine has been found to be an effective strategy, according to a new study. Oxford researchers found that the Covid vaccine was 76% effective at preventing symptomatic infection for three months after a single dose, and in fact that the efficacy rate rose with a longer interval between the first and second doses.A delay in the second dose means more people can get their first vaccines sooner because it eases a tight supply.
Asia-Pacific stocks mixed
Stocks in Asia-Pacific were mixed on Wednesday as a private survey showed China’s services sector activity growth slowing sharply in January. Mainland Chinese stocks declined on the day, with the Shanghai composite down 0.46% to 3,517.31 while the Shenzhen component slipped 0.668% to 15,233.15. Hong Kong’s Hang Seng index nudged 0.2% higher to close at 29,307.46.
Oil rises on falling U.S. crude stocks, demand hope on stimulus
Oil prices rose in Asia on Wednesday after hitting their highest in about a year in the previous session, supported by an unexpected draw in U.S. crude stockpiles and an OPEC+ estimate of a global oil market deficit this year. Market sentiment was bolstered by news that Democrats in the U.S. Congress took the first steps toward advancing President Joe Biden’s proposed $1.9 trillion coronavirus aid plan without Republican support.