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.

Urban consumer prices up in Aug
Inflation rose in urban areas last month partly because of supply chain disruptions due to floods. The overall inflation in urban areas stood at 7.15 percent at the end of August, up from 7 percent a month earlier, according to Bangladesh Bureau of Statistics. Food inflation contributed to the rise in overall inflation in urban areas, as it climbed 28 basis points to 6.39 percent. Non-food inflation, however, rose 1 basis point to 7.99 percent.

Linking N plant with ports to cost Tk 3.3b
An enhanced cost of Tk 3.3 billion has been estimated to develop rail links between the multibillion-dollar Rooppur Nuclear Power Plant and two seaports, officials said. The railways will be used for carrying the project’s equipment and raw materials to the site at Iswardi in Pabna.

Indian fuel oil shipment thru B’desh to begin in a day or two
The government completed all the preparations to facilitate shipment of fuel oil from Indian State of Assam to Tripura through Bangladeshi territory on humanitarian grounds. The shipment of the first consignment is likely to begin in a day or two, Roads and Highways Department officials said.

Joint work against money laundering
Bangladesh Intelligence Unit of the central bank, Transfer Processing Cell of the National Board of Revenue and Criminal Investigative Department of Police will work in coordination to stop laundering of money. The initiative has been taken in response to an advice from the International Monetary Fund, said Bangladesh Bank sources.

Bangladesh’s stocks edge up for five days
Bangladesh’s stocks finished marginally session Tuesday, extending the gaining spell for fifth session in a row, as optimistic investors remained active on sector specific stocks ahead of Eid-ul-Azha vacation. Analysts said the market finished marginally higher for five days as pre-Eid sale pressure faded away, while enthusiastic investors remained active on some large-cap stocks.

United Airways downgraded to Z category
The Dhaka Stock Exchange yesterday transferred United Airways to Z category from A category, as the private carrier is not in continuous operation for more than six months. The Z category is an area for listed companies that are not in operation or do not hold annual general meetings regularly or do not declare dividends for shareholders.

NSCs net in Tk 3,498cr more in July
People continued to invest heavily in national savings certificates and bonds in the first month of the new fiscal year with net investment rising by 77.01 per cent in July compared with the figures of the same month of the last fiscal year because of low bank rates. According to latest Directorate of National Savings data, the net investment in the savings instruments increased to Tk 3,498.37 crore in July of FY17 compared with that of Tk 1,976.28 crore in the same month of FY16.

BB buys $60m more from three banks
The central bank purchased US$60 million more from three commercial banks on Tuesday ahead of the Eid-ul-Azha in an attempt to keep the inter-bank foreign exchange market stable, officials said. “We’ve bought the US dollar from the banks directly to protect the interests of exporters and migrant workers by keeping the exchange rate of the local currency against the greenback stable,” a senior official of Bangladesh Bank (BB) told the FE.

ADP spending remains slow in July-Aug
The implementation status of the annual development programme in the first two months of the current fiscal year remained in a depressing situation despite experiencing a slight improvement in the period compared with the same months of the previous year. According to the Implementation Monitoring and Evaluation Division of the planning ministry, the government’s ADP implementing agencies could implement only 3.86 per cent worth Tk 4,456 crore of the total outlay of Tk 1,10,700 crore for the current fiscal year of 2016-17.

BBN/SSR/AD