Apartment sales slow for rising prices
Overall flat sales are going slow due to their high prices owing to the country’s macroeconomic vulnerabilities, a rise in raw material prices as well as an increase in registration costs, according to realtors. According to them, flat prices increased by up to 40 percent during the last one and a half years due to a rise in prices of construction materials, which is a direct impact of the fallouts on the global economy for the Russia-Ukraine war. An assessment of the Real Estate & Housing Association of Bangladesh (REHAB) shows that the cost of rod required per square feet increased by Tk 130, cement Tk 24.75, sand Tk 28.12 and stone chips Tk 78.75. In case of bricks, it was Tk 50, aluminium frames Tk 40, iron grilles Tk 12, general electrification Tk 30, sanitation Tk 30 and labour charge Tk 60. In this situation, the cost of constructing buildings increased by around Tk 500 per square feet. Against this backdrop, flats prices increased by around 35 per cent to 40 percent depending on the location of the property.
Agri sector needs Tk 100b more investment
Agriculture Minister and Awami League Presidium Member Dr Abdur Razzaque on Tuesday said the National Agriculture Policy 2018 is being implemented to make Bangladesh’s agricultural production sustainable and transform the agriculture sector, reports UNB. “As of July 2023, more than Tk 450 billion has been invested in this sector. Of this, government investment is Tk 302 billion while the rest is from development partners. Besides, the World Bank and IFAD have recently invested Tk 5.76 billion in partner projects. However, at present, about Tk 100 billion is required to be invested in agriculture on priority basis,” he said. The minister said this while inaugurating the “Investment Conference” of the World Food Forum of the United Nations Food and Agriculture Organization (FAO) in Rome, Italy on Tuesday morning. These sectors need to invest Tk 200 billion in the next few years. Giving details of investment infrastructure and government facilities in Bangladesh, the minister said there is a good investment environment in the country. The agriculture sector is very promising for investment in agriculture in Bangladesh and it will be profitable.
Vivek Sood new chairman of Robi
The Board of Directors of Robi Axiata Limited (Robi) has appointed Vivek Sood as Chairman of the company, says a statement. He replaced Thayaparan Sangarapillai who had served as Chairman of Robi Axiata since 2021. Mr Vivek is currently serving as Axiata Group Berhad’s Group CEO and Managing Director. Mr Vivek was appointed as Group Chief Executive Officer (GCEO) and Managing Director of Axiata Group Berhad (Axiata) in March 2023 after serving as Joint Acting GCEO since June 2022. Before joining Axiata, he was the Executive Vice President and Group Chief Marketing Officer of Telenor Group.
Local and Global Stock Indices *
|Index Name||Close Value||Value Change||Percentage Change|
|↑ 13.11||↑ 0.04 %|
|FTSE100||$ 7,675.21||↑ 44.58||↑ 0.58 %|
|Nikkei 225||$ 32,005.41||↓ 34.88||↓ 0.11 %|
World Commodities *
|Commodity||Close Value||Value Change||Percentage Change|
|Crude Oil (WTI)||$ 88.73 ||↑ 2.07 ||↑ 2.39 %|
|Crude Oil (Brent)||$ 91.77 ||↑ 1.87||↑ 2.08 %|
|Gold Spot||$ 1,937.61||↑ 14.43||↑ 0.75 %|
Major Currencies Exchange Rates Movement in Last Seven Days *
|USD 1||BDT 110.5000||BDT 110.5000|
*World Commodities & Local and Global Stock Indices data are taken from bloomberg.com<
* Exchange Rates are taken from BB website, as on latest update.<