BB revises interest rate policy on short term foreign currency loans
According to the official, central bank has revised interest rate policy on short-term foreign currency loans linked with global bench mark rate.Under the revised policy, the banker are allowed to fix the interest rates on buyers’/suppliers’ credit at six-month LIBOR (London Inter-bank Offered Rate) plus maximum 3.50 per cent instead of earlier maximum 6.0 per cent. The Bangladesh Bank (BB) said in a notification on Sunday that the revised rate structure shall continue until further instructions. As per the BB senior official, the central bank revised its policy on usance interest rate against import under suppliers’/ buyers credit to facilitate the country’s business community.
Three drug makers become NBR’s trusted traders
According to the official, Square, Beximco and Incepta Pharmaceuticals yesterday were granted the privilege of being the revenue authority’s trusted traders — meaning they would be able to clear their imported and exported goods from the ports faster than the rest. The three drug makers were declared Authorised Economic Operators (AEOs) by the National Board of Revenue (NBR) at an accreditation ceremony organised jointly with the USAID-Bangladesh Trade Facilitation Activity II project. At the event, the NBR launched the AEO programme to facilitate trade by providing green channel to compliant Businesses to do overseas trade in a secure, transparent and predictable trading environment. As per AEO, the Companies will enjoy several benefits that include examination of goods on their premises, direct clearance of goods from ports and completion of clearance procedures before the arrival of goods.
DSE turnover crosses Tk 5.0 billion-mark
Stocks maintained the upward trend for the third day in a row on Sunday as optimistic investors showed their buying spree across the board amid positive expectation. As per the marker analyst, stocks kept gaining as the enthusiastic buyers continued their buying appetite on large-cap stocks, taking the prime index above 5,300-mark once again. According to stockbroker the investors became active on the market for taking fresh position in sector specific stocks considering favourable price level. Positive quarterly earnings disclosures some of the companies also made investors buoyant in the market.
Non-RMG exporters to get bond facility
According to the Chief of NBR, the National Board of Revenue (NBR) has started a thorough review of the existing bonded warehouse facility as part of its move to extend the same to non-apparel exports. The NBR Chairman added Readymade garment (RMG) makes up around 85 per cent of the country’s exports. Now time has come we diversified export-basket and expand the duty-free facility to other export-oriented sectors. The NBR chairman’s comments came at an orientation programme arranged for the members of the Economic Reporters Forum (ERF). The programme titled ‘Tariff modernisation and expansion of bonded warehouse facilitates to non-RMG’ exporters,’ was organised by the ERF in collaboration with Bangladesh Investment Climate Fund II (BICF) of the International Finance Corporation (IFC).
Australia, ILO to support RMG workplace safety programme
Australia has forged a partnership with the International Labour Organization (ILO) to support a work safety programme in the readymade garments sector in Bangladesh. ‘Better Work Bangladesh’, the programme aims to improve working conditions, advance women’s economic potential and boost the competitiveness of the country’s readymade garment industry. Better Work Bangladesh (BWB) is a joint programme of the ILO and the International Finance Corporation (IFC). The Australian government has been supporting BWB since 2016 and till date the programme reaches 485,708 workers in 210 factories who work with 22 international brands.
Fifth edition of AGROW Award launched
Standard Chartered Bangladesh yesterday announced the launch of a fifth edition of Standard Chartered – Channel I Agrow Award 2019 to recognise the best performers in the agriculture sector. The Bank and Channel I—the joint organisers of the event—made the announcement at a press conference. This year, awards will be presented in eight different categories: farmer of the year – male; farmer of the year – female; heroes for change; jury special; best agricultural organisation in research, innovation and technology; best agricultural organisation in support and execution; best agricultural exporter and lifetime achievement award.
Local and Global Stock Indices *
|Index Name||Close Value||Value Change||Percentage Change|
|Nikkei 225|| 22,258.73||↓48.85||↓0.22%|
World Commodities *
|Commodity||Close Value||Value Change||Percentage Change|
|Crude Oil (WTI)||$ 60.54||↓1.40||↓2.26%|
|Crude Oil (Brent)||$ 69.45||↓1.40||↓1.98%|
|Gold Spot||$1,282.14|| ↑3.03||↑0.24%|
Major Currencies Exchange Rates Movement in Last Seven Days *
|USD 1||BDT 82.7699|
|GBP 1||BDT 108.9980|
|EUR 1||BDT 92.6634|
|INR 1||BDT 1.1939|
*CURRENCIES AND COMMODITIES ARE TAKEN FROM BLOOMBERG.<