PM to inaugurate 50, industrial units, other facilities in EZs on 26 Oct
Prime Minister Sheikh Hasina will inaugurate 50 industrial units, projects and facilities in Economic Zones (EZs) on 26 October, marking the 50 years of independence. Talking to BSS, Bangladesh Economic Zones Authority (Beza) Executive Chairman Shaikh Yusuf Harun said the Prime Minister will virtually inaugurate 50 industrial units, projects and facilities in the EZs across the country and Beza will have the event at eight venues. “These include commercial operations of four factories at the Bangabandhu Sheikh Mujib Shilpa Nagar (BSMSN) in Chattogram and eight factories in different privately-run EZs,” he added. He said these industrial units have already invested more than $967.73 million, and will make further investment of nearly $331.27 million. He informed that the PM will also lay foundation stones of 29 industrial units in different EZs, which have so far invested $610 million, and are in a process to invest $1,922.39 million more.
How to make big profits from bonds like City Bank Capital did
Bangladesh’s capital market lacks education and awareness about bond investing, while bonds are important for building a balanced, diversified investment portfolio, Ershad Hossain said. Despite the fact that bond prices are less volatile compared to that of equity shares, the bond market might be volatile enough to offer you big capital gains, said bond expert Ershad Hossain, managing director and chief executive officer of merchant bank City Bank Capital Resources Ltd. His firm, a pioneer in bond-related services in the Bangladesh capital market, generated around 35% annual return four-five years back by trading local treasury bonds, in contrast to the common belief that the bond market offers little. Ershad Hossain, in a recent interview with The Business Standard, suggested having learned about bond investing, one can wait for macroeconomic situations that lead to changes in the direction of interest rates in the economy and trigger their buy-sell decisions in the secondary bond market.
BPC plans to import 5.46m tonnes of fuel in 2023
Bangladesh Petroleum Corporation (BPC) is planning to purchase 5.46 million tonnes of fuel from the international market to meet the country’s needs in 2023. The proposal for next year’s fuel imports, comprising 1.6 million tonnes of crude oil and 3.86 million tonnes of refined oil, was tabled at a meeting of the Cabinet Committee on Economic Affairs on Wednesday, according to Additional Secretary Rahat Anwar. According to bdnews24.com, the BPC’s plan to import crude oil from Saudi Aramco and Abu Dhabi National Oil Company through the direct purchase method has been recommended for provisional approval. The war in Ukraine has triggered a surge in oil prices in the global market, fuelling fears of an economic downturn. Crude oil prices have been hovering around $100 per barrel for the last few months, which ranged between $60 and $70 a barrel prior to the war.
Local and Global Stock Indices *
|Index Name||Close Value||Value Change||Percentage Change|
|↑ 748.97 ||↑ 2.47%|
|FTSE100||$ 6,969.73||↑ 25.82||↑ 0.37%|
|Nikkei 225||$26,890.58||↓ 116.38||↓ 0.43%|
World Commodities *
|Commodity||Close Value||Value Change||Percentage Change|
|Crude Oil (WTI)||$85.05 ||↑ 0.54||↑ 0.64%|
|Crude Oil (Brent)||$93.50 ||↑ 1.12||↑ 1.21%|
|Gold Spot||$1,657.69||↑ 29.67||↑ 1.82%|
Major Currencies Exchange Rates Movement in Last Seven Days *
|USD 1||BDT 102.6900||BDT 102.6900|
*World Commodities & Local and Global Stock Indices data are taken from bloomberg.com<
* Exchange Rates are taken from BB website, as on latest update.<