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
Foreign direct investment to Bangladesh rose 13 per cent year-on-year to $2.89 billion last year, in a positive development for an economy long looking to increase the flow of external funds to accelerate its growth. FDI inflow has been far lower than the expected level given the country’s business volume and potential of the economy.Strict regulations, bureaucratic complexities, inadequate infrastructures and lack of one-stop service have become major challenges to lifting the volume of FDIs. Fresh investment, or equity capital, was at a higher level last year compared to 2020, which has been described by economists as a good development for the country’s investment sector.FDI in the field of equity capital rose 35 per cent to $1.13 billion, according to data from the Bangladesh Bank.The reinvestment of earnings stood at $1.562 billion last year in contrast to $1.566 billion a year prior. Intra-company loans increased to $194 million, up 25 per cent year-on-year.The government had targeted to attract $32 billion in FDI during the Seventh Five-Year Plan period stretching from the fiscal year of 2015-16 to 2019-20. But the country managed less than $10 billion.
Source: https://www.thedailystar.net/business/economy/news/fdi-goes-lower-expected-3011801
The Bangladesh Bank yesterday asked banks to take insurance coverage against their financing to exporters in a bid to minimise default risk of loans. As per banking norms, lenders can provide post-shipment financing to exporters as they wait to receive funds from buyers through correspondent banks.In such a situation, there is always a default risk if the correspondent banks, through which funds are received by exporters, don’t pay back the value of the items shipped on time.This will give an extra comfort to banks as insurance companies have to take responsibility in the event banks don’t receive the funds as promised.
Khulna Power Company Limited (KPCL) is set to sell its 110 megawatt barge mounted power plant at a value of $15 million, according to a company statement posted on the Dhaka Stock Exchange (DSE) website yesterday. An asset purchase agreement has been signed between KPCL and Excelerate Global Operations LLC of the US to this end. The company also informed that they have applied to the Bangladesh Power Development Board (BPDB) and other concerned authorities for approval to re-export the plant (power barges) outside Bangladesh. Stocks of KPCL dropped 0.63 per cent to Tk 31.40 at the DSE yesterday.Its earnings per share dropped Tk 1.57 in the July-December period of 2021-22 while it was Tk 2.88 in the same period of the previous fiscal year.
Source: https://www.thedailystar.net/business/economy/news/khulna-power-sell-110mw-plant-3011761
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| Commodity | Close Value | Value Change | Percentage Change |
|---|---|---|---|
| Crude Oil (WTI) | $ 99.22 | ↓2.85 | ↓2.79% |
| Crude Oil (Brent) | $ 103.76 | ↓ 2.89 | ↓2.71% |
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| Exchange Rates | |
|---|---|
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| GBP 1 | BDT 112.6634 |
| EUR 1 | BDT 93.5615 |
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