BB encourages investment in ICB bond
If any bank pours money in the seven-year subordinated bond of Investment Corporation of Bangladesh, it will not be included in the bank’s market exposure, Bangladesh Bank said in a circular on Tuesday. Most of the Tk 2,000 crore worth bond will be invested in the capital market. The interest rate will be 9 percent and in case of late redemption an extra 2 percent would be charged.
Deal signed to boost procurement skills
The planning ministry yesterday signed a contract with an International Labour Organization wing involving over $12 million for increasing capacity of its Central Procurement Technical Unit (CPTU) under the Implementation Monitoring and Evaluation Division. The Capacity Development and Professionalisation contract was signed with International Training Centre (ITC) of the ILO at the NEC Conference Room at Sher-e-Bangla Nagar. The contract will be executed until June 30, 2022 under a Digitising Implementation Monitoring and Public Procurement Project being implemented by the CPTU with support from World Bank. About 11,000 persons, including private sector bidders, elected local government representatives and journalists, will receive training under the contract to be facilitated by Engineering Staff College Bangladesh as the nominated sub-consultant.
Post offices to make e-commerce delivery
Bangladesh Post Office will deliver parcels for online marketplaces to all parts of the country from now onwards, in a development that can be viewed as a shot in the arm for the e-commerce players. The post office has the largest delivery platform and e-commerce entrepreneurs could use this infrastructure to reach the remotest parts of the country easily. Bangladesh’s e-commerce market is now worth more than Tk 2,000 crore a year, with annual growth of 8 to 10 percent. Bangladesh Post Office has a vast network of 8,500 post offices. The e-commerce players will use the Bangladesh Post Office for deliveries outside of the major cities. The e-commerce platforms will have to drop off the packages at the post office for delivery to the customer. Currently, about 30,000 products bought from the online marketplaces are delivered every day.
Integrated connectivity to bolster trade in South Asia
South Asia will be benefitted if seamless trade can be ensured, land ports are integrated and related rules are harmonized. It is needed to harmonise the rules and regulations so that goods can move from one place to another in a seamless border trade to take advantage of the sub-regional connectivity. The adviser said South Asia was a very integrated region economically and logistically before 1947. But the connectivity was destroyed after 1947. Businesses in Bangladesh can use the Krishnapatnam Port Container Terminal in India’s Andhra Pradesh to import cotton and goods as it has sophisticated facilities.
Deal with Microsoft to tighten BD’s virtual space security
Microsoft on Wednesday signed an agreement with the Ministry of Posts, Telecommunications, and Information Technology on Government Security Programme (GSP). As part of the agreement, Microsoft’s Digital Crimes Unit (DCU) provides Bangladesh Cyber Threat Intelligence Programme (CTIP) data to the National Data Centre and CIRT team of the ministry. Microsoft’s Digital Crimes Unit (DCU) based in Seattle, USA has two key focus areas. Combatting malware risks, botnet takedowns and digital crimes and protect vulnerable populations by leveraging innovative technologies such as big data and AI, forensics, law and partnerships. Bangladesh Computer Council’s mission is to manage cybersecurity in Bangladesh Government’s e-Government network and related infrastructure. They are working to establish national cybersecurity incident management capabilities in Bangladesh, and the report will help them in fulfilling this task by assisting the government to tackle financial or identity theft, advertising click fraud, and any other form of scams and crimes.
Stylecraft recommends record 410pc stock div
The board of directors of Stylecraft Ltd, a textile company, has recommended 410 per cent stock dividend for the year ended on June 30, 2018. The share traded between Tk 3,661 and Tk 4,900 on the day.
Fair prices delight Bogura radish cultivators
Due to a bumper production and fair market prices, early winter radish cultivators in the district are making a handsome profit this season. According to the Department of Agricultural Extension (DAE), the target of radish cultivation had fixed nearly 400 hectares of land, but around 5, 00 hectares of land in the district have been brought under the farming of the vegetable. Radish is being sold at Tk 600 to Tk 700 per maund in the local kitchen markets. Cultivated high-yielding BARI-5 radish variety on 22 decimals of land and made a good profit from the sale.
Sylhet dealers sell around 10,000 tonnes of crop in September
Dealers of the four districts in the division have already received their deliveries of rice for October to sell the essential commodity among the ultra-poor at Tk 10, officials at the Food Department informed on Tuesday. As many as 243,724 poor people, listed under the programme in Sylhet division, official sources informed. It includes 30,713 in Sylhet, 43,377 in Moulvibazar, 78,044 in Habiganj and highest 91,590 in Sunamganj. A card holder can buy 30 kg rice at the rate of Tk 10 per kg per month. Since the month of September, the dealers had taken 12,956 tonnes of rice, of which they had already sold 9,661 tonnes among the listed people in the division till Tuesday last. The government had launched the programme last year for five months, considered as lean period.
Local and Global Stock Indices *
|Index Name||Close Value||Value Change||Percentage Change|
|DSEX|| 5,455.81068 || ↑14.86339|| ↑0.27%|
World Commodities *
|Commodity||Close Value||Value Change||Percentage Change|
|Crude Oil (WTI)||$ 74.64||↓0.32||↓0.43%|
|Crude Oil (Brent)||$ 84.81||↓0.19||↓0.22%|
|Gold Spot||$ 1,189.97||↑0.20||↑0.02%|
Major Currencies Exchange Rates Movement in Last Seven Days *
|USD 1||BDT 83.7500|
|GBP 1||BDT 110.1983|
|EUR 1||BDT 96.3879|
|INR 1||BDT 1.1281|
*CURRENCIES AND COMMODITIES ARE TAKEN FROM BLOOMBERG.