Govt plans Tk 3,322cr transmission line
The Government is going to construct a 140-kilometre high-voltage electricity transmission line between Barapukuria and Kaliakair to import 1,600 megawatts of power from Indian conglomerate Adani Group. The Planning Ministry is going to place a mega project involving Tk 3,322 crore at the meeting of the Executive Committee on National Economic Council (Ecnec) today to set up the transmission line. Of the cost, 52 percent will come from a second Indian line of credit. Earlier, the power division of Bangladesh and Adani Group signed a memorandum of understanding to allow the Indian firm to invest $2.5 billion to build a 1,600MW coal-fired power plant in the country. Later, Gujarat-based Adani Power, the largest private sector electricity producer in India, changed its plans. The power will now be generated in Jharkhand of India. According to a Planning Ministry Official, Adani Group is expected to start producing the electricity between 2022 and 2023.
Tk 280b development projects thrust Ctg into limelight
Dozen-plus infrastructure development projects involving about Tk 280 billion (28,000 crore) have now made Chattogram a centre of attraction. The projects have been undertaken by the CDA, Chittagong Port, Chittagong City Corporation and the Roads and Highways Department. On Sunday, the Prime Minister inaugurated main work of the two biggest projects. One is nearly Tk 100 billion Karnaphuli Tunnel project and the other is Tk 40 billion Elevated Expressway. The tunnel project under the ministry of road transport and bridges and the expressway project linking Chattogram Airport with Lalkhan Bazar in the heart of city under the ministry of public works are expected to be completed by the end of 2022.
PM urges Expatriates to invest in Bangladesh
Prime minister Sheikh Hasina on Tuesday urged that, Bangladesh expatriates could come up with their investment in the country’s 100 economic zones alongside foreign investors. As per the PM, Govt. is setting up 100 economic zones. Not only the foreigners, but also the expatriates should invest there and she hopes that as the Govt. have created scopes for the expatriates to make investment (in the country). The Prime Minister said this while inaugurating the two-day convention on Non-Resident Bangladeshi (NRB) Engineers at Pan Pacific Sonargaon Hotel in the city. As per The PM, industrialisation and investment were badly needed for Bangladesh and so that the government had created many scopes for investment and it provides various facilities to foreign investors.
5,000 traders to import used clothes this FY
As per the Officials, a total of 5,000 traders across the country will get opportunity to import used clothes (second-hand clothes) in the current fiscal year and Importers will be selected on the basis of the population density in each district and through lottery by deputy commissioners (DCs) concerned. Each trader can import used clothes worth maximum Tk 50,000. They have to submit proper documents ensuring that consignments of clothes to be imported from different countries are free from all toxic and hazardous substances. The government on February 20, 2019 issued a public notification in this regard. For importing used clothes, the traders will have to apply to the DCs by March 20. They have to open Letters of Credit (LCs) by 30 June and complete shipments of clothes by October 15.
IDLC partners with Exotix Capital to woo Global Investors
DLC has recently joined hands with Exotix Capital, an investment platform focusing developing markets, to provide global investors extensive research insights and corporate access into the Bangladesh market. Exotix will distribute among its global subscriber base in-depth insights from IDLC via its innovative new research platform, the non-banking financial institution. This partnership follows additional agreements of Exotix with other industry-leading brokerages in Egypt, Zimbabwe, Saudi Arabia, Vietnam, Sri Lanka and Pakistan. As per the CEO of Exotix Capital, this partnership will further develop their deep, local connections in emerging markets and enable them to provide an unparalleled level of insight.
MoU with EEU states in March to spur trade
Bangladesh will sign a memorandum of understanding (MoU) with the Eurasian Economic Union (EEU) member states at the end of next March. As per the Commerce Minister this to reporters after at his secretariat office on Tuesday. The Minister said the EEU comprises five northern Eurasian nations. A single state cannot trade smoothly. For this, Dhaka is ready to sign a MoU next month.
Runner to hold IPO lottery draw March 04
Runner Automobiles is set to hold IPO lottery draw on March 04 to allocate 13.93 million ordinary shares among the successful applicants. The initial public offering (IPO) lottery draw will be held at 10:00am at the A.G.B. Colony at Motijheel in Dhaka. After the event, result will be published on the websites of Dhaka Stock Exchange (DSE), Chittagong Stock Exchange (CSE) and the company. Runner Automobiles, a flagship company of Runner Group, raised a fund worth Tk 1.0 billion from the capital market under the book-building method. The fund will be utilised for the purpose of research and development works, purchasing machinery, repaying bank loans and bearing the IPO expenses.
CRISL wins int’l Award
Credit Rating Information and Services Limited (CRISL), the oldest and the first ever multinational rating agency of the country, has been adjudged the best rating agency of Bangladesh and awarded the prestigious ‘The Asset’s Triple A Regional Award, 2018’ by the Hong Kong based leading financial publication and research organization, ‘The Asset’ recently.
Move to double Maize production by 2021
The Ministry of Agriculture (MoA) has been considering converting all lands under tobacco cultivation into maize fields to raise the production of the cereal up to 6.0 million tonnes by 2021. As per the MoA, presently, the country grows 3.2 million tonnes of maize a year and also imports another 1.0 million tonnes for the growing animal feed industry.
Two suspected killed in gunfights
Two alleged criminals — a drug dealer and robber — were killed in “gunfights” with police in Kushtia and Barishal yesterday. Besides, a murder case accused was shot in Jamalpur. In Kushtia, an alleged drug dealer, Emdad Khondokar, 35, of Ranjitpur in Kushtia Sadar upazila, was killed in a “shootout” in Adabaria village of Kumarkhali upazila.
Man arrested with 30,000 yaba pills
Members of Rapid Action Battalion (Rab) arrested a man with 30,000 pieces of yaba pills from the road in front of Dinajpur Police Station on Tuesday afternoon.
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)|| $ 56.02 ||↑0.52||↑0.94%|
|Crude Oil (Brent)|| $ 65.55|| ↑0.34||↑0.52%|
|Gold Spot|| $1,329.57||↑0.61|| ↑0.05%|
Major Currencies Exchange Rates Movement in Last Seven Days *
|USD 1||BDT 83.9623|
|GBP 1||BDT 111.2333|
|EUR 1||BDT 95.5575|
|INR 1||BDT 1.1814|
*CURRENCIES AND COMMODITIES ARE TAKEN FROM BLOOMBERG.<