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.
WTO: Global apparel consumption falls
Global consumption of apparel products has slipped by 7.92% in 2015 to $445 billion since 2008 economic recession. The developed countries witnessed the consumption fall in the wake of gloomy economic situation. According to World Trade Organisation (WTO) data, global consumption of RMG products came down to $445 billion, which was $483.28 billion in previous year. After the economic recession in 2008, the global consumption of clothing products witnessed a decline by 13.23% to $315.51 billion in 2009, which was $363.62 billion a year ago.
Bangladesh’s inflation up in September
Bangladesh’s inflation as measured by the consumers’ price index (CPI) increased slightly in the month of September mainly because of rise in prices of food items. The inflation rate rose to 5.33 per cent in September 2016 from 5.37 per cent of the previous month on point-to-point basis, according to the Bangladesh Bureau of Statistics (BBS) data. It was 6.24 per cent in September 2015. Food inflation rose to 5.10 per cent in September from 4.30 per cent in August 2016 indicates higher consumption on food items during the period under review, especially for the Eid-ul-Azha.
LPG coming as car fuel sans settling CNG fate
The government is introducing liquefied petroleum gas (LPG) for fuelling automobiles without considering the fate of compressed natural gas (CNG), the currently most-consumed car fuel, industry-insiders said. Sources said the Energy and Mineral Resources Division (EMRD) under the Ministry of Power, Energy and Mineral Resources (MPEMR) is currently receiving applications from private entrepreneurs for licence to install LPG stations and conversion workshops.
Garment sector needs tripartite council to solve disputes: analysts
Garment entrepreneurs, trade unionists, government officials and development partners are all in favour of a permanent tripartite consultative committee to sort out disputes confronting the country’s apparel sector. “We need a permanent tripartite consultative mechanism for the garment sector to build sound relations between employers and employees,” said Roy Ramesh Chandra, an advisory council member of Bangladesh Institute of Labour Studies (BILS).
DSE key index crosses 4,700-mark
Stocks ended higher on Tuesday with key index of the premier bourse crossing the 4,700 points level after nearly 12 months as investors went on late hour buying spree. Market insiders said optimistic investors remained active on sector specific stocks ahead of corporate declaration, especially later part of the session, closing the market higher. The market witnessed volatility in the first half of the session while last half of the session saw uptrend, ultimately ended higher.
ADP spending improves in first three months
The pace of the spending on annual development programme has improved in first three months of the current fiscal year. The government agencies spent 8.74% of the Annual Development Programme (ADP) outlay during July-September period of the current financial year, according to the Planning Minister. In the same period of last fiscal year, they had spent 7% or Tk 6,800 crore of the total original ADP outlay of Tk1tn.
GBP dips below BDT 100
The exchange rate of the Great Britain Pound (GBP) against the Bangladesh Taka (BDT) slumped to below 100 taka in last two days in line with the global trend following the British Prime Minister Theresa May’s announcement. On Sunday, the British premier announced that her government would start the process of leaving the European Union within the next six months. The British currency also lost around BDT 17 in last two months in line with the global trend of weak pound due to the British referendum to leave the EU.
Crisis-resolution meeting on cargo transport inconclusive
The government formed a high-profile committee to decide on weight limit for cargo-carrying vehicles-an issue that created a deadlock in external trade-as a crisis-resolution meeting Tuesday failed to reach a decision. Officials said the meeting, attended by five ministers with Road Transport and Bridges Minister Obaidul Quader in the chair, decided to hold the committee meeting on October 13 to hammer out an agreement on load limits for the freight transports in consistency with international standards.