S Korea keen to cooperate in energy, ICT: PM Lee
South Korean Prime Minister Lee Nak-yon on Sunday said his country was keen to cooperate Bangladesh in various fields especially energy, infrastructure, ICT and hi-tech sectors to further strengthen trade ties between the two nations. Prime Minister made the remark while addressing at Korea-Bangladesh Business Forum under the theme ‘Promoting Business Ties Today: Bringing Mutual Prosperity Tomorrow’, jointly organised by Korea International Trade Association (KITA) and Federation of Bangladesh Chamber of Commerce and Industry (FBCCI) at Hotel InterContinental here. ‘I hope the Korea-Bangladesh Business Forum will help advance the bilateral relations between the two countries to a new level,’ Mr. Lee said. The Korean premier said that his country was keen to provide cooperation for setting up hi-tech industries in Bangladesh for manufacturing diverse products here.
Vivo to open mobile assembly plant in Bangladesh
Chinese smartphone manufacturer Vivo is all set to roll out the first mobile assembly plant in Bangladesh with full foreign direct investment, as international companies flock to the country to make the best use of the favourable tax regime. The plant in Rupganj of Narayanganj will put together at least one million smartphones every year. “We hope ‘Made in Bangladesh’ handsets will be available in the market within three months,” said Tanzib Ahamed, an assistant manager of Vivo Mobile Company (BD) Ltd. He also added, “Vivo always ensures high quality and the ‘Made in Bangladesh’ products will also be of best quality and at reasonable prices.” This will be the Chinese Company’s fifth factory, after two in China and one each in India and Indonesia.
Test pasteurised milk at four labs: HC
Amid a controversy over laboratory test reports on milk, the High Court yesterday directed Bangladesh Standards and Testing Institution to test pasteurised milk, produced by 14 companies, at four laboratories within a week. All these Companies are registered with the BSTI. The four institutions where the tests will be conducted are — Institute of Public Health, Bangladesh; International Centre for Diarrhoeal Disease Research, Bangladesh (icddr,b); Bangladesh Livestock Research Institute and Bangladesh Council for Scientific and Industrial Research. There has been a controversy since a team of Dhaka University researchers and the BSTI gave conflicting test reports on milk last month. In its test, the DU team found detergent and antibiotics in samples of packaged milk available in kitchen markets. But the BSTI said it didn’t find any harmful substances in the milk samples it tested.
Climate-smart rice benefits farmers
Researchers have found cultivation of two relatively shorter duration rice varieties and the use of water-saving technology yield higher income to farmers and affect the climate less. They conducted an experiment in two upazilas of Chattogram, where farmers got three crops — two rice and a mustard — in a year by growing early-maturing rice instead of two rice crops. This increased farmers’ income by 45 percent to Tk 108,317 per hectare. Furthermore, plantation of the short-duration rice crops cut greenhouse gas emission, minimising the impact on climate. “Farmers are benefited,” Md Rafiqul Islam, principal scientific officer and head of Bangladesh Rice Research Institute (BRRI), said at a workshop on promotion of climate-smart practices and varieties for intensive rice-based system in Bangladesh.
Bourses suspend trading of People’s Leasing shares
The DSE decided to suspend share trading of the ailing non-bank financial institution in accordance with Regulation 50 of the Dhaka Stock Exchange (Listing) Regulations, 2015. Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) on Sunday suspended the trading of People’s Leasing and Financial Services’ (PLFS) shares. The DSE decided to suspend share trading of the ailing non-bank financial institution in accordance with Regulation 50 of the Dhaka Stock Exchange (Listing) Regulations, 2015, said an official of DSE. According to the DSE disclosure, the decision was made at a board meeting held on Thursday. The non-bank financial institution’s share trading will be suspended until getting confirmation from Bangladesh Bank on liquidation of the Company.
Significant rise in transactions through DSE mobile app
The country’s premier bourse witnessed a significant rise in share transactions through DSE mobile app in the just concluded fiscal year (FY) compared to previous FY. The number of orders for share transaction through DSE mobile app has become noteworthy because mobile-based transactions attracted investors. According to information of Dhaka Stock Exchange (DSE), investors placed 6.9 million orders through the DSE mobile app in the FY 2018-19. In the FY 2017-18, investors placed 4.2 million orders through the mobile app. As a result, the number of orders, which were placed using mobile app, rose 57 per cent or 2.7 million in the FY 2018-19 compared to that of the FY 2017-18. At the end of the FY 2018-19, the number of active users of the DSE mobile app stood at 46,283, which was 34,080 as of July, 2018.
GPH Ispat to use FUSO Branded Vehicles for goods transport
World’s second and Bangladesh’s first EAF Quantum Technology enabled integrated steel manufacturing factory of GPH Ispat will transport its goods by FUSO Prime Movers and Tipper Trucks which are made from Mercedes platform. An agreement has been signed recently between Rancon Trucks & Buses Limited (RTBL), the sole authorised distributor of FUSO in Bangladesh and GPH Ispat Limited, a renowned steel manufacturer of the country based in Kumira, Chattogram.
HRC, Japanese Suzue Corporation sign JV shipping deal
HRC Group of Bangladesh and Japan-based multinational company Suzue Corporation on Sunday signed an agreement to establish a joint venture Company to operate businesses related to shipping and logistics. HRC Group Chairman and Chief Executive Officer Sayeed H Chowdhury and Suzue Corporation Chairman Takahiro Suzue signed the agreement on behalf of respective sides to establish the Company named HRC-Suzue Logistics (BD) Limited. At the ceremony, three other documents, including memorandum of association and article of association were also signed.
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)|| $ 59.96||↓0.25||↓0.42%|
|Crude Oil (Brent)||$ 66.52||↓0.20||↓0.30%%|
|Gold Spot|| $1,412.41||↓3.34||↓0.24%|
Major Currencies Exchange Rates Movement in Last Seven Days *
|USD 1||BDT 82.8899|
|GBP 1||BDT 104.1860|
|EUR 1||BDT 93.4017|
|INR 1||BDT 1.2085|
*CURRENCIES AND COMMODITIES ARE TAKEN FROM BLOOMBERG.<