Dhaka, Bangladesh (BBN) – The BBN has prepared the morning business round up compiling reports, published by different newspapers and news portals in Bangladesh.
Eid spending fuels inflation
Inflation edged up 7 basis points to 6.24 percent month-on-month in September on the back of a non-food price hike, making it harder for the central bank to curb price pressure. “It is demand-driven, spending-driven and consumption-driven. So I see no signs of worry,” said Biru Paksha Paul, chief economist of the central bank.
IMF mission due Nov 04 to assess economic performance
Bangladesh is getting ready with all necessary performance data to face the upcoming International Monetary Fund (IMF) Article IV Consultation Mission on the country’s existing economic situation, officials said. The IMF mission is scheduled to arrive in Dhaka on November 04 to assess the country’s overall economic performance, they added.
BTRC inks deal with CA firm for Grameenphone audit
The BTRC yesterday signed a deal with a chartered accountants company for conducting a second time audit of the market’s leading mobile phone operator Grameenphone. Finance Director of Bangladesh Telecommunication Regulatory Commission Ashis Kumar Kundu and audit firm Toha Khan Zaman Co Chartered Accountants director Nasir Ahmed signed the deal on behalf of their respective organisations.
Bangladesh’s stocks end flat
Bangladesh’s stocks edged up on Tuesday with improving turnover as investors were active both side of the trading. Key index of Dhaka Stock Exchange (DSE) gains 1.73 points and Chittagong Stock Exchange (CSE) loses 0.58 points on Tuesday after the third session of the week.
Navy-Air Force bank in offing, Shimanta bank get green signal
The government is planning to give the go-ahead to yet another new bank – Maritime Bank Ltd – to be jointly owned by Bangladesh Navy and Bangladesh Air Force, a top official in the finance ministry confirmed. Finance ministry officials are now busy examining a proposal of Bangladesh Navy to set up the bank, after Shimanta Bank – to be owned by Border Guards Bangladesh – got the green signal from the ministry and awaits Bangladesh Bank approval for license.
Soaring jute prices worry exporters
Raw jute prices have gone up further amid low supply, making manufacturers and exporters anxious about the negative impact on exports. The prices of good quality raw jute rose to around Tk 2,100 a maund at the end of September from Tk 1,800 in August, according to traders.
IMF cuts forecast for global growth
The International Monetary Fund has downgraded its forecast for global economic growth this year. It has reduced its figure to 3.1 per cent from the 3.3 per cent it predicted in July, reports BBC. The 2016 forecast is down to 3.6 per cent from 3.8 per cent. “A return to robust and synchronized global expansion remains elusive,” the IMF says.
Sept exports fall, but Q1 figure up
Country’s export earnings declined by over 5.0 per cent to $ 2.61 billion in September 2015 compared to that of the previous month. Country’s export earnings were $ 2.75 billion in August last, according to the data released Tuesday by Export Promotion Bureau (EPB). However, country’s total export earnings during the July-September period of the current fiscal year reached $ 8.0 billion, although EPB put the figure at $ 7.75 billion for the same period.