Asia LNG prices rise on firm Chinese demand
Asia liquefied natural gas (LNG) prices continued to rise this week on the back of higher European gas prices, which fuelled competition from buyers in Asia, while demand is firm from top buyer China. The average LNG price for November delivery into Northeast Asia was estimated at about $38.50 per metric million British thermal units (mmBtu), up $1.50 from the previous week, industry sources said. December delivery prices were estimated to be about $38.40 per mmBtu. Last week, price agency S&P Global Platts’ Japan-Korea-Marker (JKM), which is widely used as a benchmark in the spot market in the region, had surged to a record high of $56.326 per mmBtu. Facing an ongoing power crunch, amid a shortage of coal for electricity generation, China has been one of heavy buyers of LNG. The country’s September imports of natural gas, both from pipelines and as LNG, were at a nine-month high at 10.62 million tonnes, 22.6 per cent above year-ago levels. Freight rates to ship LNG remained high, with LNG freight from the US to Northwest Europe and Northwest Asia approximately at peak levels of $2.50 and $4.50 respectively per mmBtu, according to data intelligence firm Spark.
Trading of City Bank perpetual bond begins this month
Dhaka bourse is set to open trading of perpetual bond by this month through the direct listing of bond issued by The City Bank. Talking to the FE, the officials of Bangladesh Securities and Exchange Commission (BSEC) and Dhaka Stock Exchange (DSE) have said the listing of The City Bank’s bond is at final stage. Of the banks, the size of the City Bank’s bond is Tk 4.0 billion, Mutual Trust Bank Tk 4.0 billion, One Bank Tk 4.0 billion, First Security Islami Bank Tk 6.0 billion, Trust Bank Tk 4.0 billion, Social Islami Bank Tk 5.0 billion, Jamuna Bank Tk 4.0 billion, Shahjalal Islami Bank Tk 5.0 billion, Islami Bank Tk 8.0 billion, EXIM Bank Tk 6.0 billion and Southeast Bank Tk 5.0 billion. Of these banks, Southeast Bank, Trust Bank, The City Bank and Mutual Trust Bank have completed the subscription of their perpetual bonds.
Guardian Life Insurance’s ‘Easy Life’ policy now in bKash app
Customers can now avail Guardian Life Insurance’s ‘Easy Life’ policy through bKash app. They can purchase policy, pay premiums, claim insurance, receive claim disbursements through the bKash app. Avoiding the hassle of paper, medical tests and meeting, customers can now easily purchase Guardian Life’s ‘Easy Life’ policy from bKash app. With this new addition, purchase of insurance policy from Guardian Life has become easier and safer for 55 million bKash customers across the country. As technology has created opportunities to avail insurance services digitally, the opportunity to purchase insurance policy from any part of the country will further expand insurance services and play an important role in financial inclusion as well. Customers can avail yearly premiums ranging from BDT 150 to3,499 using the bKash app and can get life coverage of BDT 1 lakh to 3 lakhalong with health coverage of BDT 50,000 for Covid and other health treatment.They can learn more about the premiums, types of coverage and other information from bKash app. To purchase Guardian Life’s ‘Easy Life Policy’ using bKash app, customers need to click on ‘insurance’ from bKash app’s ‘more’ option and select ‘Guardian Life Insurance Ltd’. In the following steps, they need to select the preferred insurance policy, tap ‘view details’ and ‘buy now’ subsequently and enter necessary information to avail insurance policy easily.