Savings certificates sell like hotcakes with 55pc growth in FY17

Government’s net borrowings through the state-sponsored savings instruments marked over 55 per cent annual growth to Tk 524.17 billion last fiscal as those turned hotcakes for higher yields.Sources said the savers switch sides as banks squeezed interests on deposits. And the rush for buying savings tools prompted the department concerned to bat for pressing the brake. According to Department of National Savings (DNS) statistics, the net sales of savings certificates worth Tk 524.17 billion in the fiscal year (FY) 2016-17 marked a growth by Tk 74.17 billion over the revised target set in March last.

Source: http://print.thefinancialexpress-bd.com/2017/08/03/179597

Mongla not fit to take heat off Ctg port

Chittagong port grappling with huge vessel congestion, the country’s second sea port in Mongla remains underutilised mainly because of inadequate facilities and low draft, said stakeholders.The port at the southwest coastal belt has the capacity to handle 70,000 TEUs (twenty foot equivalent units) of containers a year.It handled 26,952 TEUs containers in fiscal 2016-17, down 36 percent year-on-year, according to data from the Mongla Port Authority.And despite the recent rise in congestion at the Chittagong port, businesses are not diverting their containers and cargo to Mongla, where the turnaround time for ships is 2.2 days — half of Chittagong port.About 92 percent of Bangladesh’s seaborne trade is done through the Chittagong port. “We do not see any rise in ships. Things are going as usual,” said Mohammad Golam Mostofa, acting chairman of Mongla Port Authority, on Aug 1.Port users blamed the low draft in the channel for the port’s failure to realise its full potential. The draft determines the minimum depth of water a ship or boat can safely navigate.Experts on several occasions in the past said the seaport in Mongla can play a pivotal role in facilitating overseas trade in the southwest part of the nation as well as the landlocked countries such as Nepal and Bhutan.

Source: http://www.thedailystar.net/business/mongla-not-fit-take-heat-ctg-port-1442713

SEZ for Japan to house apparel units

Japanese investors will be able to set up ready-made garments (RMG) units in the country’s Special Economic Zone (SEZ) dedicated for Japan, commerce minister Tofail Ahmed said on Wednesday.”Japanese investment in the country is higher as a single country. We hope it will increase further in the near future,” he told reporters, following a meeting with Japanese ambassador in Dhaka Masato Watanabe at his Secretariat office.Commerce secretary Shubhashish Bose and senior officials of the ministry were present at meeting.Replying to a question, the minister said the government has decided to dedicate a SEZ for Japanese investors where they would be able to set up RMG factories. Presently, around 350 Japanese companies, including RMG and backward linkage factories, are operating in the EPZs.

Source:
http://print.thefinancialexpress-bd.com/2017/08/03/179570
http://www.observerbd.com/details.php?id=87538

Indonesia keen to export LNG, coal to BD

Indonesia has expressed its keenness to invest in Bangladesh’s energy sector, especially building LNG infrastructure, and export coal and LNG.Newly appointed ambassador of the East-Asian Muslim country to Bangladesh Rina Suemarno expressed the interest when she called on State Minister for Power and Energy Nasrul Hamid at his office on Wednesday.The Indonesian envoy said her country wants to work with Bangladesh to build a Floating Storage Re-gasification Unit (FSRU) for LNG, and export coal and LNG to the country.She said her country also wants to invest in joint venture projects in poultry, cement and pharmaceutical industries in Bangladesh utilising the experience of the South Asian nation. “Works have advanced a lot. Now, we’re waiting to extend the cooperation,” Suemarno told the meeting.Both the state minister and the ambassador widely discussed different issues.

Source: http://www.observerbd.com/details.php?id=87541

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