300 startups to get up to Tk 10cr each
The government will provide up to Tk 10 crore to promising start-ups in Bangladesh, said State Minister for ICT Zunaid Ahmed Palak Yesterday. The government will give the fund to 300 startups, including 200 this year, in the form of equity investment. Under a European Union-funded initiative, the UNCDF has reached out 20 lakh retail micro-merchants in Bangladesh. State-sponsored venture capital company Startup Bangladesh Ltd and local startup Sheba.xyz are going to sign a partnership agreement to provide microloans to small and medium entrepreneurs without collateral. The government is expanding initiatives such as the MDDRM with the help of development partners and investors to ensure that Bangladesh does not lag in the age of digital economy.
Private investors to own 49pc stake in Nagad, govt 51pc
Private investors will hold a 49 per cent stake in Nagad Ltd and the postal department the rest as the government looks to run the mobile financial service as a subsidiary, its top executive said yesterday. The postal department owns 100 per cent of the shares of Nagad at the moment. Under a planned new ownership structure, private companies will collectively own 49 per cent shares of Nagad, and the rest will be controlled by the postal department. Third Wave Technologies has been giving technological and logistics supports to the postal division since March 2019, when it rolled out the service commercially. The private company now enjoys 49 per cent of the total revenues in exchange for providing technological supports. But it does not own any share at the moment. The carrier is the second-largest MFS provider in Bangladesh after bKash. It has 3.75 crore customers, and Tk 400 crore is transacted through the platform every day on average.
Local garments co to invest $5m in Dhaka EPZ
Shasha Garments Limited, a Bangladeshi company, is going to establish a garments manufacturing industry in the Dhaka Export Processing Zone (EPZ) with an investment of US$ 5 million. This will be their fourth industry in EPZs, reports BSS. In presence of the Executive Chairman of BEPZA Major General Md Nazrul Islam, an agreement to this effect was signed between BEPZA and Shasha Garments Limited at the BEPZA Complex in the city. Md Mahmudul Hossain Khan, Member (Investment Promotion) of BEPZA and Parveen Mahmud, Managing Director of Shasha Garments, signed the agreement on behalf of their respective organizations. The company will produce annually 6.75 million pieces of Men’s Pant, Women’s Pant, Boy’s Pant, and Jacket annually. Shasha Garments will create employment for 2000 Bangladeshi nationals.
Local and Global Stock Indices *
|Index Name||Close Value||Value Change||Percentage Change|
|↓ 308.05||↓ 0.94 %|
|FTSE100||$ 6,699.19||↓ 26.91 ||↓ 0.40 %|
|Nikkei 225||$ 28,591.46||↓ 404.46 ||↓ 1.39 %|
World Commodities *
|Commodity||Close Value||Value Change||Percentage Change|
|Crude Oil (WTI)||$ 57.80 ||↑ 0.04||↑ 0.07 %|
|Crude Oil (Brent)||$ 60.85 ||↑ 0.06||↑ 0.10 %|
|Gold Spot||$ 1,731.86 ||↑ 4.79||↑ 0.28 %|
Major Currencies Exchange Rates Movement in Last Seven Days *
|USD 1||BDT 84.8020|
|GBP 1||BDT 117.5780|
|EUR 1||BDT 101.2112|
*CURRENCIES AND COMMODITIES ARE TAKEN FROM BLOOMBERG.<