Document signed with Siemens to build LNG power plant at Payra
The Power Division of Bangladesh and Siemens of Germany on Friday initialled a joint development agreement for the construction of a 3600MW LNG power plant at Payra in Bangladesh. The document was signed following a meeting of the Siemens CEO Joe Kaeser with Prime Minister Sheikh Hasina at Hotel Sheraton. CEO of North West Power Generation Company of Bangladesh Khorshed Alam and Chief Executive Officer and Global President of Siemens Joe Kaeser signed the document. Briefing reporters after the meeting, Foreign Sectary Md Shahidul Haque said the power plant is the initial part of the Siemens plan to come to Bangladesh in a big way to invest in health, education mobility and other sectors.
IBBL holds biz dev confce on Agent Banking
Islami Bank Bangladesh Limited organised a business development conference for agent banking at a hotel in the city on Saturday. Md. Mahbub ul Alam, Managing Director & CEO of the Bank addressed the concluding session of the programme as chief guest. Abu Reza Md. Yeahia, Deputy Managing Director presided over the meeting. Head Office Executives and proprietors of Agent Banking outlets under Dhaka Central, Dhaka North, Cumilla & Sylhet Zones of the Bank attended the conference.
Construction financing soars
The banking sector has bumped up its lending to the construction sector on the back of the government’s mega project implementation spree. As of September last year, credit flow to the construction sector stood at Tk 80,000 crore, up 20.24 percent from a year earlier, according to data from the central bank. The segment accounted for 9.44 percent of the total outstanding loans in the private sector. As per the Managing Director of Pubali Bank, construction financing has been rising for the last two years as the government is implementing a number of mega infrastructure projects. The mega infrastructure projects now under implementation are: Padma bridge, Rooppur nuclear power plant, Payra deep seaport, Dhaka-Chattogram elevated expressway, Dhaka metro rail, and Karnaphuli River Tunnel.
IPO subscription of New Line Clothings begins tomorrow
The subscription of initial public offering (IPO) of New Line Clothings will begin tomorrow (Monday). Through the IPO, the company will raise a fund worth Tk 300 million (30 crore) from the capital market under the fixed price method. The public subscription will continue until February 28. The securities regulator — Bangladesh Securities and Exchange Commission (BSEC) — approved the company’s IPO proposal on November 28, 2018. As per the securities regulator’s approval, the company will offload 30 million ordinary shares at an offer price of Tk 10 each to raise the said amount under the fixed price method. A market lot consists of 500 shares and an investor needs Tk 5,000 to apply for each lot of the company’s IPO.
ADP spending highest in six years
Development spending in the first seven months of the fiscal year has been the highest in six years, as the government’s efforts to improve implementation is slowly bearing fruit. Between July last year and January this year, the ministries and divisions spent Tk 62,282 crore, which is 34.43 percent of the total annual development programme outlay, according to data from the Implementation Monitoring and Evaluation Division (IMED). The amount is an increase of 13.82 percent year-on-year.
HSBC launches debit card in BD
The Hongkong and Shanghai Banking Corporation Limited (HSBC) in partnership with Visa recently launched HSBC Visa Debit Card in Bangladesh for its customers. Dr. Shirin Sharmin Chaudhury, MP, Speaker of the Parliament of the People’s Republic of Bangladesh remained present as the Chief Guest and launched the card in presence of Francois de Maricourt, Chief Executive Officer, HSBC Bangladesh, the Banks’ clients, regulators and media.
Mercantile Bank, a2i sign MoU
Mercantile Bank Limited has signed a memorandum of understanding with a2i programme at ICT Tower, Agargaon, Dhaka recently.Bank’s DMD & CSBO Adil Raihan and a2i Project Director & Additional Secretary Md. Mustafizur Rahman signed the memorandum on behalf of their respective organisations. As per the memorandum customers will get the benefit to pay their all government utility bills easily through branches of Mercantile Bank.
Mr. Kamal becomes Standard Bank EC Chair
Standard Bank Limited sponsor and founder Vice-President Kamal Mostafa Chowdhury has been elected as the chairman of the executive committee of the board of directors of the bank in its 307th meeting held recently, said a press release. Mr. Kamal is the proprietor of Raja Corporation, KMC International and director of Holy Crescent Hospital in Chattogram. He is the senior director of Chittagong Chamber of Commerce and Industries and former director of Bangladesh Malaysia Chamber of Commerce & Industry and member of FBCCI.
Govt decides to start piloting vannamei shrimp farming
The government has taken a decision to start farming vannamei variety of shrimp on a pilot basis and selected 10-20 acres of land in Cox’s Bazar and Khulna districts in this regard. As per the officials, initially two entrepreneurs will get permission to launch the farming, before going for commercial production. They said the Department of Fisheries (DoF) was formulating the guidelines in this regard while a sub-committee will be formed for feasibility study in Cox’s Bazar and Khulna areas. The DoF will make Standard Operating Procedure (SOP) to operate the hatcheries.
15 trafficking victims return home from Indonesia
Fifteen Bangladeshi nationals who were trafficked to Indonesia returned home on Saturday. With the fresh arrival, so far 150 Bangladeshis have come from the Southeast Asian country. As per a returnee Bangladeshi, a total of 295 people from Bangladesh, among them 20 to 25 Rohingya refugees, were taken to the country by human traffickers with the promise of sending them to Malaysia for job.
Over 100 Yaba traders including 10 relatives of Bodi surrender to police in Cox’s Bazar
Over 100 Yaba traders, including 10 relatives of former MP Abdur Rahman Bodi, who have been kept at a police safe house, formally surrendered to police on Saturday. A total of 102 Yaba traders surrendered to police and deposited 0.35 million Yaba tablets and 30 firearms.
Local and Global Stock Indices *
|Index Name||Close Value||Value Change||Percentage Change|
World Commodities *
|Commodity||Close Value||Value Change||Percentage Change|
|Crude Oil (WTI)||$ 55.59||↑1.18||↑2.17%|
|Crude Oil (Brent)||$ 66.25||↑1.68||↑2.60%|
|Gold Spot|| $1,322.49||↑9.92||↑0.76%|
Major Currencies Exchange Rates Movement in Last Seven Days *
|USD 1||BDT 83.8916|
|GBP 1||BDT 108.1279|
|EUR 1||BDT 94.7640|
|INR 1||BDT 1.1778|
*CURRENCIES AND COMMODITIES ARE TAKEN FROM BLOOMBERG.<