Dhaka, Bangladesh (BBN) - The BBN has prepared the morning business round up compiling reports, published by different newspapers and news portals in Bangladesh.
Consumers spending on food items declines
Consumers' spending on food and allied products declined in January. The business circles attributed the decline to the ongoing political turmoil. Many of the food producers said consumer spending now remains at the subsistence level only. They hardly take foods outside their homes due to the present tense situation of the country. This has led to fall in sales.
Turmoil fuels food inflation
Food inflation crept up 0.21 percentage points last month, bucking the trend of the past seven months, as supply disruption caused by political turmoil from January 6 inflated prices. In January, food inflation stood at 6.07 percent against 5.86 percent the previous month, according to Bangladesh Bureau of Statistics. The food inflation increased slightly due to the dislocation caused by the political unrest, Planning Minister AHM Mustafa Kamal said yesterday while releasing January's inflation data.
Buyers turning back amid unrest: BTMA
Country’s ongoing political crisis is affecting the textile industry as the buyers are refraining from placing new orders and also offering lower prices, said the textile mills owners on Tuesday. They said the prolonged political crisis has been severely hampering the production, but the cost of production remained unchanged which was also affecting the industry.
Bangladesh Bank purchases $57m more from banks
The central bank of Bangladesh purchased US$57 million more from the commercial banks directly on Tuesday to keep the inter-bank foreign exchange market stable. “We’ve brought the US dollar from three banks at market rate to protect the interests of exporters and migrant workers by keeping the exchange rate of the Bangladesh Taka (BDT) against the US dollar stable,” a senior official of the Bangladesh Bank (BB) told BBN in Dhaka.
Rickshaw-puller's monthly income Tk 11,517: BBS
The average monthly income of a rickshaw-puller in Bangladesh is Tk11,517, a latest survey by the Bangladesh Bureau of Statistics (BBS) shows. "Rickshaw-van and easy-bike drivers earn Tk 12,620 and Tk 30,411 each per month on average," the survey report says. The data came out in a survey, conducted by the country's national statistical body, on eight professional groups in six divisions of the country. The findings were released Tuesday.
Garment sector losses mounting by the day
Losses in the garment sector are mounting everyday for the blockade and shutdowns called by the BNP-led alliance, with 23 garment factories reporting losses of $19.02 million between January 14 and February 1. The amount will be much bigger if the losses of all affected factories are calculated, said Atiqul Islam, president of Bangladesh Garment Manufacturers and Exporters Association. So far, only 23 factories have responded to the platform's request for quotations of losses incurred for the political turmoil, ongoing since January 6.
Revenue earnings from DSE drops 16% in January
The government’s revenue earnings from the Dhaka Stock Exchange (DSE) fell 16 percent in January compared to a month ago as trading volume was on the decline amid ongoing political unrest. The government bagged tax worth BDT 94.50 million in January, 2015 against BDT 112.90 million in December, 2014, registering a decline of 16 percent over the month, according to statistics from the Dhaka Stock Exchange (DSE).
BBN/SSR/AD-04Feb15-9:20 am (BST)