TT-Clean: 77.1 | TK BC-Selling: 78.1
TK OD-Sight: 76.88 TK | TC-Selling: 78.1 TK
TT-Clean: 77.1 | TK BC-Selling: 78.1
TK OD-Sight: 76.88 TK | TC-Selling: 78.1 TK
TT-Clean: 77.1 | TK BC-Selling: 78.1
TK OD-Sight: 76.88 TK | TC-Selling: 78.1 TK
Rate last updated: 02/01/2014 11:15:04 AM
Garment exports to the US increased 10.10 percent year-on-year to $1.08 billion in the first two months of the year, with the shipments expected to grow exponentially if 25 percent duty on Chinese imports comes into effect. If that materialises, many international retailers will look to Bangladesh as an alternative sourcing destination. Apparel was not in the list of the items subjected to US President Donald Trump’s retaliatory 25 percent duty last year, but on Friday the US President announced 25 percent duty on $200 billion worth Chinese imports that include garment items. According to the Senior Vice-President of BGMEA, Such announcement will encourage US retailers to consider Bangladesh.
Source: https://www.thedailystar.net/business/news/garment-exports-us-10pc-1740421
According to the Agriculture Minister Abdur Razzaque, the government is planning to export around 1 million tonnes of surplus Boro rice after meeting the domestic demand. The Minister also added, the government will hold a discussion with stakeholders in the next 15 to 20 days after the harvest of the crop to determine whether 0.5 to 1.0 million tonnes of Boro rice can be exported this year.
Source: https://thefinancialexpress.com.bd/economy/plan-to-export-10m-tonnes-of-surplus-boro-rice-1557226443
Bangladesh has become self-sufficient in billet manufacturing on the back of huge investment made by large steel mills, which bumped up their production capacity for the key raw material of steel products. According to the Md Shahidullah, secretary general of Bangladesh Steel Manufacturers Association (BSMA), five years ago steel mills had to import half the total requirement for billet to make steel to feed the domestic market. Local mills now produce around 60 lakh tonnes of billet annually, enough to manufacture 55 lakh tonnes of high-quality rods. The expansion spree by the BSRM, Abul Khair Steel, GPH Ispat, KSRM, Metrocem and Anwar Ispat in recent years has enabled the country to reduce its reliance on imports for billet.
Source: https://www.thedailystar.net/business/news/bangladesh-self-sufficient-billet-production-1740427
Mutual Trust Bank Limited (MTB) has recently launched two SME products – ‘MTB Shachal’ and ‘MTB Supply Chain Finance’. MTB Director and Founding Chairman, Syed Manzur Elahi inaugurated the event. ‘MTB Shachal’ is a termination loan facility for purchasing commercial vehicle for smooth operation of the SME Business such as transportation of executives/employees/sponsors and carrying goods etc. ‘MTB Supply Chain Finance’ is a short term loan under revolving nature limit which allows a supplier to avail credit facility from the bank for smooth operation of business during the bridge period between execution of supply and payment of the bill.
Source: https://thefinancialexpress.com.bd/trade/mtb-launches-two-sme-products-1557210781
Green Delta Insurance Ltd. has signed a memorandum of understanding (MoU) with CARE Bangladesh’s Krishi Utsho Microfranchise recently for initiating non-traditional financing (NTF) scheme for rural smallholder farmers of Bogra and Jessore. This initiative is expected to ensure secure farming for rural smallholder farmers through insurance coverage at their doorsteps. This is a pilot that is being initiated by Green Delta Insurance Limited and CARE Bangladesh with funding from MEDA (Mennonite Economic Development Associates), Canada.
Source: https://thefinancialexpress.com.bd/trade/green-delta-ins-signs-mou-with-care-bangladesh-1557215918
Mohammed Musa and Zoynal Abedin Chowdhury were elected chairman and vice-chairman of Central Insurance Company respectively for two years. Musa is the managing director of Madina Garmesnts, executive director of Silkway Fashion and a director of BGMEA.
Source: http://www.newagebd.net/article/71745/musa-elected-chair-zoynal-vice-chair-of-central-ins-co
Top ten-traded firms captured nearly 32 per cent transaction of the Dhaka Stock Exchange (DSE) on Tuesday while Fortune Shoes continued to top the chart. According to the market analyst, investors were active on both sides of Fortune Shoes shares after the company posted a 35 per cent earnings growth in January-March, 2019 quarter.
Chartered Institute of Management Accountants (CIMA) with 237,000 members and students operating in 184 countries, working at the heart of business, celebrated its centenary year in Dhaka. CIMA, the world’s largest body of management accountants, will however, globally celebrate its 100th birthday on 8th March, 2019.
Source: https://thefinancialexpress.com.bd/trade/cima-celebrates-centenary-year-1557211722
| Index Name | Close Value | Value Change | Percentage Change |
|---|---|---|---|
| DSEX | 5,289.99912 | ↓52.08346 | ↓0.97% |
| DJIA | 25,965.09 | ↓473.39 | ↓1.79% |
| FTSE100 | 7,260.47 | ↓120.17 | ↓1.63% |
| Nikkei 225 | 21,577.23 | ↓346.49 | ↓1.58% |
| Commodity | Close Value | Value Change | Percentage Change |
|---|---|---|---|
| Crude Oil (WTI) | $ 61.87 | ↑0.47 | ↑0.77% |
| Crude Oil (Brent) | $ 70.26 | ↑0.38 | ↑0.54% |
| Gold Spot | $1,286.85 | ↑2.42 | ↑0.19% |
| Exchange Rates | |
|---|---|
| USD 1 | BDT 82.8306 |
| GBP 1 | BDT 108.3670 |
| EUR 1 | BDT 92.7171 |
| INR 1 | BDT 1.1901 |
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