Liberal trade could boost Bangladesh’s GDP by 14.8%: World Bank study
Unilateral trade and investment liberalisation could boost Bangladesh’s GDP, investment, and exports by 14.8%, 20%, and 63.2%, respectively, according to a World Bank study. Such unilateral reforms will help Bangladesh reduce trade costs and access to cheaper and better-quality imported inputs to boost domestic firms’ competitiveness and output, it says, pointing out that Bangladesh’s trade competitiveness is eroding mainly due to lack of lower export base.For greater market access for exports, Bangladesh needs to explore deeper and comprehensive trade integration within the region and beyond, suggests the report “Bangladesh- Country Economic Memorandum: Change of fabric,” which was disclosed on the bank’s website on Friday.
Dhaka Bank, VISA launch card for students
Dhaka Bank in association with VISA recently launched a prepaid card product called Aspire Student Prepaid Card.EmranulHuq, managing director of Dhaka Bank Ltd, and Prof Niaz Ahmed Khan, pro-vice chancellor of Independent University Bangladesh (IUB), launched the card on the university premises in Dhaka, a press release said.Students will be able to use the card at any Dhaka Bank or visa equipped ATM, POS and e-Commerce sites.For foreign travel and transactions, the students can endorse their passport against the card and make foreign transactions at ease.Md Mostaque Ahmed, deputy managing director of the bank, and HM MostafizurRahaman, executive vice-president, were present.
Kadir re-elected as SBAC Bank chairman
Abdul KadirMolla has been re-elected chairman of South Bangla Agriculture and Commerce Bank for the second term with effect from September 26.Industrialist Molla is the founding director of the bank and chairman of Majid Molla Foundation and Thermex Group Ltd, an industrial company in the apparel and textile sector, a press release said.He established KadirMolla City College, NKM High School and Homs, Abdul KadirMolla International School and PachKandi Degree College as part of social responsibility under Majid Molla foundation.
Local and Global Stock Indices *
|Index Name||Close Value||Value Change||Percentage Change|
|↓ 329.60||↓ 1.11% |
|FTSE100||$7,020.95||↑ 2.35||↑ 0.03%|
|Nikkei 225||$26,587.17||↑ 155.62||↑ 0.59%|
World Commodities *
|Commodity||Close Value||Value Change||Percentage Change|
|Crude Oil (WTI)||$77.19 ||↑ 0.48||↑ 0.63%|
|Crude Oil (Brent)||$84.53 ||↑ 0.47||↑ 0.56%|
|Gold Spot||$1,631.61 ||↑ 9.25||↑ 0.57%|
Major Currencies Exchange Rates Movement in Last Seven Days *
|USD 1||BDT 105.3500|
*World Commodities & Local and Global Stock Indices data are taken from bloomberg.com<
* Exchange Rates are taken from BB website, as on latest update.<