February exports hit another milestone
Earnings from merchandise shipments continued to soar in February, registering growth of 34.54 per cent year-on-year to reach $4.29 billion on the back of increased garment exports. February’s earnings were the highest in the same month of the past 10 years.The February receipts are also 18.80 per cent higher than the target of $3.61 billion. In February last year, Bangladesh recorded merchandise shipments amounting to $3.19 billion, according to data from the Export Promotion Bureau. In January this year, earnings from merchandise shipments stood at $4.85 billion, the second-highest single-month receipts. In December, exporters raked in $4.9 billion, an all-time high for single-month earnings.The July-February earnings are also 16.5 per cent higher than the target of $29.05 billion. During the July-February period in fiscal 2020-21, the total earnings were $25.86 billion.
Tax Revenue up 15.75pc in seven months
Collection of tax revenue, largely import-stage revenue, grew by 15.75 per cent in the first seven months of the current fiscal year. Customs revenue grew by 22.45 per cent until January of fiscal year (FY) 2021-22 due to a volatile market of essential commodities and petroleum products.The National Board of Revenue (NBR) collected Tk 1.53-trillion tax during the July-January period, up by Tk 208.21 billion than that of the same period last year. Income tax payers paid Tk 467.67-billion taxes, up by 14.30 per cent compared to that of the corresponding period last year. VAT collection grew by 12.68 per cent with Tk 579.42 billon during the period in question. Customs wing collected Tk 487.27-billion taxes. However, three of the wings missed their respective targets for the period.Bangladesh Bank data shows the opening of letters of credit, generally known as import orders, increased by 11.18 per cent to $6.86 billion in January from $6.17 billion a month before.
UCB implements robotic process automation
United Commercial Bank Ltd. (UCB) has implemented the Robotic Process Automation (RPA), an artificial intelligence (AI)-based technology of 4th industrial revolution (4IR).RPA has been implemented complementing the overall digital transformation journey of the bank in alignment to the national slogan of ‘Digital Bangladesh’ and guidelines of Bangladesh Bank.
Local and Global Stock Indices *
|Index Name||Close Value||Value Change||Percentage Change|
|FTSE100||$ 7,429.56||↑99.36||↑1.36 %|
|Nikkei 225||$ 26,636.62||↑243.59||↑0.92 %|
World Commodities *
|Commodity||Close Value||Value Change||Percentage Change|
|Crude Oil (WTI)||$ 113.41||↑2.81||↑2.54%|
|Crude Oil (Brent)||$ 116.25||↑3.32||↑2.94%|
|Gold Spot||$ 1,927.26||↓1.46||↓0.08%|
Major Currencies Exchange Rates Movement in Last Seven Days *
|USD 1||BDT 86.00|
|GBP 1||BDT 114.5950|
|EUR 1||BDT 95.7094|
*World Commodities & Local and Global Stock Indices data are taken from bloomberg.com<
* Exchange Rates are taken from BB website, as on latest update.<