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.
EPS of 35 out of 48 listed RMG sector cos fall
Earnings per share of 35 out of 48 export-oriented publicly traded textile and apparel companies at Dhaka Stock Exchange have registered fall in the first half of the current fiscal as export earnings have been on the decline. There are 56 export oriented textile, garment and accessories companies listed with the country’s premier bourse Dhaka and Chittagong Stock Exchanges.
NBFIs seeks emergency liquidity support from BB
Country’s top executives of non-bank financial institutions (NBFIs) have sought emergency liquidity support from the central bank to improve their financial health. The support was sought in a meeting with the newly-elected committee of the Bangladesh Leasing and Finance Companies Association (BLFCA) at the Bangladesh Bank (BB) headquarters in Dhaka on Tuesday with BB Governor Fazle Kabir in the chair.
Trade misinvoicing persists in BD: GFI
Continued mismatch or value gap in reported bilateral trade of Bangladesh with the rest of the world has indicated that trade misinvoicing is persisting there. The latest report of the Global Financial Integrity (GFI), a Washington-based research organisation, estimated the value gap of 135 developing countries including Bangladesh and 36 advanced economies over a ten-year period between 2008 and 2017.
HC asks BB to explain lending rate limit legality
The High Court on Tuesday asked the government and the Bangladesh Bank to explain in four weeks why their recent decision setting the ceiling on bank lending rate at 9 per cent with effect from April 1 would not be declared illegal. A bench of Justice Abu Taher Mohammad Saifur Rahman and Justice Md Zakir Hossain issued the rule after hearing a public interest litigation writ petition filed by Supreme Court lawyer Syed Sayedul Haque Suman.
WB announces $12b immediate support for COVID-19
The World Bank (WB) Group is making available an initial package of up to $12 billion in immediate support to assist countries coping with the health and economic impacts of the global outbreak. This financing is designed to help member countries take effective action to respond to and, where possible, lessen the tragic impacts posed by the COVID-19 (coronavirus) that has already spread more than 60 countries, according to a statement.
Govt plans policy support to offset coronavirus impact
The government is planning to offer policy support to offset impact of Coronavirus outbreak on manufacturing sector, instead of providing financial assistance at this stage, officials said. The virus outbreak in China, which later spread across nearly 50 countries, has disrupted supply chain of major raw materials, posing threat to industrial output, especially that of major foreign currency earning sectors.
Bangladeshi start-ups homing in on billion-dollar valuation
Bangladesh’s technology start-ups are catching the attention of venture capital (VC) firms, which have put in about $200 million in funding over the last four years, said ICT State Minister Zunaid Ahmed Palak yesterday “The more the start-up ecosystem is maturing, the more the venture capital funding is coming,” he said at the inauguration of local merchant bank IDLC’s VC fund at a ceremony held at the InterContinental Dhaka.
Bangladesh’s stocks end higher for second day
Bangladesh’s stocks extended the gaining streak for the second day in a row on Tuesday as bargain hunters continued to show their buying appetite on lucrative issues. DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 31.25 points or 0.70 percent to settle at 4,466 over the previous day.