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Economy

BB opposes proposal to allow PKB for commercial banking

Bangladesh Bank (BB) has rejected a proposal of finance minister AMA Muhith on giving Probashi Kallayan Bank approval to open exchange houses abroad and allowing it to operate partial commercial banking activities to enable the bank serve the Bangladeshi diaspora. The central bank in its opinion said the specialised bank does not comply with the mandatory standards stipulated in the banking company act on matters like capital requirement and banking nature to become eligible for commercial banking and banking through exchange houses. The BB last week in a letter to finance ministry cleared its position that cited specific provisions lying in the bank company act on specific issues, a source in the finance ministry said, rep...

Pvt sector fears credit crunch, wants incentive package

Different business groups have sought a large amount of incentive package worth around Tk 150 billion as a contingency measure to help overcome setbacks in businesses due to the prolonged political crisis. This creates a major challenge before the incumbent government. Economists, however, fear that if the government allocates such a huge contingency fund it would disrupt the financial discipline of the country and would shrink the private sector growth further, reports the Financial Express (FE). bangladesh_bank

Bangladesh key economic indicators – Jan 11

DAILY INDICATORS

Thursday Previous Taka/US $ (inter-bank) 77.75-77.75 77.75-77.75 Call money rate (inter-bank) 06.25-08.00 06.25-08.00 Dhaka Stock Exchange index 4,407.82 4,391.27 --------------------------------------------------------------- indicatorMONTHLY CURRENT PREVIOUS Growth in: Consumer price index (BBS) Change yr/yr (pct) Dec. 7.53 7.15 M2 supply (bln taka) (BB) Nov. 6,425.75 6,403.17 Forex reserves ($bln)(BB) Dec. 18.07 17.11 Exports(FOB) ($mln)(BB) Nov. 2,21...

DITF kicks off in city

The 19th edition of the annual event of  the month-long Dhaka International Trade Fair (DITF), 2014 began here on Saturday which is expected to help restore confidence among the business community apart from boosting trade ties with foreign partners. Prime Minister Sheikh Hasina inaugurated the fair, a platform for both local and foreign producers to showcase the products, at city’s Sher-e-Bangla Nagar on the grounds to the west of the Bangabandhu International Conference Centre in the morning. DITF-2014-logoSpeaking ...

Small investors receding as multinational companies proliferating

Small poultry farm owners are gradually losing the ground for business to big investors in the sector, particularly the multinational investors, amid the absence of a protective mechanism by the government. The stakes of the multinational companies over the poultry sector have made a leap from 4-5 percent to 31-32 percent since 2007, while, at the same time, more than 50 percent of the country’s small poultry farm owners who have called it quits, according to insiders in the sector. poltryWhile bi...

Higher export growth keeps BDT up vs dollar

Bangladesh Taka (BDT) appreciated by more than 2.50 per cent against the US dollar in the just-concluded calendar year 2013, thanks to a higher growth in exports despite the domestic adversities. The US dollar was quoted at Tk 77.75-Tk 77.77 in the interbank foreign exchange (forex) market on December 30, the last working day of 2013 against Tk 79.75 on January 1, 2013. remmitanceThe US dollar’s weighted average came down to Tk 77.7512 in the forex market on December 30 last from ...
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