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Feb ends with consolidation among major currencies

The dollar is consolidating gains scored yesterday, giving it a somewhat heavier tone. Equity markets are trading mixed, consolidating this week’s gains. Bond markets are also mostly quiet. [caption id="attachment_4203" align="alignleft" width="300"]The reserves now stand at $19.04bn, enough to pay off six months’ imports and second highest among SAARC countries The reserves now stand at $19.04bn, enough to pay off six months’ imports and second highest among SAARC countries[/caption] There are a couple of exceptions. Sweden reported Q4 GDP of 1.1% quarter-over-...

Tea prices fall on poor quality amid political unrest

Tea prices in Bangladesh declined for a fourth straight week at a weekly auction on Tuesday due to supplies of poor grade leaf amid political unrest. Bangladesh has been racked by political violence since anti-government protests turned violent last month over a disputed election a year ago. teaMore than 100 people have died and hundreds have been injured, most of them in firebomb attacks on vehicles, amid a violent nationwide transport blockade by the main opposition party aimed at toppling the government. Demand from local buyers was sluggish as ...

Call money market: A safe-haven for NBFIs

Last week, the call money rate touched its lowest level at 5.00 per cent and traded between 5.50 per cent and 9.00 per cent in most deals. But the rate for non-bank financial institutions was higher between 8.62 per cent and 9.00 per cent. Normally banks charge higher rates on non-bank financial institutions for call money in comparison to their lending the call money to other banks. call money"Call money market has become a good place for NBFIs as the rate remains very low compared to lending rates of NBFIs since long", said a central bank official...

Tea prices drop amid political unrest

Tea prices in Bangladesh declined for the second straight week at a weekly auction on Tuesday due to sluggish local demand amid political unrest that disrupted supplies. teaBangladesh has been racked by political violence since anti-government protests turned violent last month over a disputed election a year ago. More than 80 people have died and hundreds have been injured, most of them in firebomb attacks on vehicles, amid a violent nationwide transport blockade by the main opposition party aimed at toppling the government. Demand from local buye...

Julphar acquires majority stake in RAK Pharmaceuticals

Julphar, the largest Emirati pharmaceutical company, has acquired a majority stake in Bangladesh based RAK Pharmaceuticals, marking its entry into the country and an expansion of its footprint in Asia. rakcRAK Pharmaceuticals is a subsidiary of RAK Ceramics and produces a variety of industry compliant tablets, capsules and syrups that are fit quality wise to meet a regulated healthcare market. The company turned over US5.7 million of sales in 2013, representing growth of 24% on the year before. Julphar and RAK Pharmaceuticals have had a long term ...

Tea prices up on thin supplies amid unrest

Tea prices in Bangladesh rose at a weekly auction on Tuesday, ending two weeks of falls, due to a drop in volumes as renewed political unrest disrupted supplies. Bangladesh has been racked by political violence since anti-government protests turned violent on Jan. 5, the first anniversary of a disputed election. teaAt least 38 people have died and scores have been injured, most of them in firebomb attacks, amid a violent nationwide transport blockade by the main opposition party. Tea volumes are down this week as political violence and transport bl...
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