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.
Feasibility of floating terminal in Ctg afoot
The feasibility study of the proposed floating terminal project at the outer anchorage of Chittagong port is set to start soon. The terminal, if and when completed, will facilitate unhindered movement of containers to and from Pangaon container terminal and help ease congestion at the country’s premier port.
Summit to invest $5b in infrastructure in 5 years
Summit Group will invest $5 billion in various projects in Bangladesh in the next five years to meet the country’s growing appetite for infrastructure. Of the investment, $3 billion will flow to the energy and power sectors and $1 billion each to the digital infrastructure and the ports and shipping sectors.
Ministry asks 120 business groups to share profits
The labour ministry has recently issued letters to 120 business groups in the country, asking them to share profits of their entities with the Bangladesh Labour Welfare Foundation fund as per law. Officials said the ministry asked the companies under the business groups to deposit 0.5 per cent of their profits in the fund within one month of receiving the letter, otherwise legal action would be taken against the companies.
External debt servicing rises in Q1 of FY ’20
External debt servicing of the government increased by nearly US$52 million in the first quarter (Q1) of the current fiscal year (FY), 2019-2020, compared to that of the same period in the previous fiscal. The payment for external debt service rose to $495.18 during the July-September period of FY ’20 from $443.37 million in the same period of the previous fiscal, according to official data.
Stocks extend losing streak for third day
Bangladesh’s stocks extended the losing streak for the third straight session on Tuesday as worried investors continued their selling spree on sector-wise shares. DSEX, the prime index of Dhaka Stock Exchange (DSE), went down by 28.48 points or 0.60 per cent to settle at 4,670—the lowest level since November 15, 2016.
Pvt sector credit growth sinks to nine-year low
Private sector credit growth sank to a nine-year low in September this fiscal year, which experts blame on slow deposit growth leading to liquidity crisis, high government borrowing, cautious lending and slow import growth. In the month, the private sector credit growth dropped to 10.66%, the lowest after September 2010, when it was 6.09%, according to the Bangladesh Bank data
Investors urge PM to reshuffle BSEC
A section of stock market investors on Tuesday sought the prime minister Sheikh Hasina’s intervention regarding removal of Bangladesh Securities and Exchange Commission’s commissioners and reconstitution of the commission to revive the investors’ confidence in the regulator and the country’s share market.
Cooperation to boost regional trade
Cooperation between South and Southeast Asian Muslim nations will immensely benefit the region, including non-Muslim nations, speakers said. They said the cooperation will increase business and regional connectivity. The halal food industry in Muslim countries holds huge potential, a market non-Muslim countries can take advantage of, said Salman F Rahman, prime minister’s private industry and investment adviser.