Bangladesh’s economy still safe enough despite global recession: PM
Prime Minister Sheikh Hasina today said the country’s economy still remains vibrant and safe enough despite the entire world is going through an economic recession due to the Covid-19 pandemic, Russia-Ukraine war, and sanctions.”I can say that our economy is still vibrant and safe enough although the entire world is witnessing economic meltdown due to the Covid-19, Russia-Ukraine war, and sanctions,” she said.The prime minister said her government is very much alert and active to overcome the global recession.She said this while addressing a ceremony at the parade ground of the Bangladesh Air Force Academy here marking the President Parade (Winter)-2022.The premier directed the newly-commissioned Bangladesh Air Force cadets to be responsive towards the country and its people while discharging their professional duties being imbued with patriotism, sincerity, and integrity.She simultaneously asked the newly commissioned cadets to remain prepared all the time to enhance professional excellence with proper utilisation and practice of the training achieved from the air force academy.The prime minister asked the fresher to put emphasis on training as it increases excellence.
Banks thrive on fees but core business suffers
Most of the listed banks in Bangladesh logged higher profits in the January to September period of 2022 on the back of increased incomes from commissions and fees whereas their core business suffered from the slowdown in the economy. Despite a lower turnover in the stock market owing to the Russia-Ukraine war-induced uncertainty, banks collectively posted more than 72 per cent rise in incomes through commission and fees after their revenue rose for the surge in the US dollar price against the taka.The local foreign exchange market turned volatile after the shortage of the American greenback hit the country following the unprecedented jump in import bills fuelled by the conflict.Of the 31 banks listed on the Dhaka Stock Exchange (DSE), 18 logged higher profits and 11 saw lower profits in the first nine months this year. One incurred loss.
Import-export registration certificate tenures extended to 5yrs
The government has extended the tenures of the Import Registration Certificate (IRC) and the Export Registration Certificate (ERC) to five years from one year.The government has come up with the move as part of its effort to ease of doing business in the country.The commerce ministry published a circular to this end on November 23.Businesses have been demanding to extend the terms of IRC and ERC to five years.The fee would be realised according to the tenure of the certificates, the circular said.
Local and Global Stock Indices *
|Index Name||Close Value||Value Change||Percentage Change|
|FTSE100||$7,465.24 ||↑12.40 ||↑0.17%|
World Commodities *
|Commodity||Close Value||Value Change||Percentage Change|
|Crude Oil (WTI)||$77.42 ||↓0.52 ||↓0.67%|
|Crude Oil (Brent)||$84.72 ||↓0.69 ||↓0.81%|
|Gold Spot||$ 1,757.26 ||↑7.58||↑0.43%|
Major Currencies Exchange Rates Movement in Last Seven Days *
|USD 1||BDT 103.0600||BDT 105.6700|
*World Commodities & Local and Global Stock Indices data are taken from bloomberg.com<
* Exchange Rates are taken from BB website, as on latest update.<