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DAILY NEWS FLASH Bangladesh: Economy August 26, 2018

MLT foreign loans jump by 80pc in FY18

Medium and long-term (MLT) loans in the past fiscal year (FY18) jumped by around 80 per cent over the previous year, according to the latest statistics of Bangladesh Bank.

The annual Balance of Payments (BoP) data, released in August, showed that country received $5.78 billion as MLT in FY18 which was $3.21 billion in FY17.

The huge amount of MLT loans were used to finance the part of the huge current account deficit in the past fiscal year which is reflect-ed in the surge of the financial account surplus.

Source:https://thefinancialexpress.com.bd/economy/mlt-foreign-loans-jump-by-80pc-in-fy18-1535009483

Industrial output soars in FY 2018

The industrial production marked a sharp increase in the first nine months of the last fiscal year (FY) compared to the same period of the previous fiscal.

The industrial output surged due to the rise in credit disbursement in the sector and improvement in the country's power supply situa-tion.

Based on data released by Bangladesh Bureau of Statistics (BBS), the central bank prepared a brief analysis in this regard. It showed that the production increased mainly in the fields of textiles, apparels, food products, pharmaceuticals and medicinal chemicals, leather and related products and tobacco products.

Source:https://thefinancialexpress.com.bd/economy/industrial-output-soars-in-fy-2018-1535173131

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Bangladesh: Economy

Bangladesh 49th top merchandise im-porting country

Bangladesh has been ranked as the 49th top merchandise importing country in the past year, according to the World Trade Organization – Trade Profiles 2018.

The report, released in July, also showed that by excluding intra-EU (European Union) trade, the rank jumped to 31st place in 2017.

Nevertheless the country’s share in the global merchandise import is still below 1.0 per cent.

Source:https://thefinancialexpress.com.bd/economy/bangladesh-49th-top-merchandise-importing-country-1535009984

Bangladesh 57th top exporting country

Bangladesh has been ranked as the 57th top merchandise exporting country in the past year, according to the World Trade Organization – Trade Profiles 2018.

The report, released last month (July), also showed that by excluding intra-EU (European Union) trade, the rank jumped to 39th position in 2017.

Nevertheless the country’s share in the global merchandise export is

still well below 1.0 per cent.

Source:https://thefinancialexpress.com.bd/economy/bangladesh-

57th-top-exporting-country-1535006520

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Bangladesh: Economy

BTRC approves 013 prefix for GP, 014 for BL

Bangladesh Telecommunication Regulatory Commission has approved two new number prefixes — 013 and 014 — respectively for mobile phone operators Grameenphone and Banglalink.

The approval was given at a meeting held at the commission office in the capital on last Sunday following endorsement from prime minis-ter’s ICT affairs adviser Sajeeb Wazed Joy, a senior official told New Age last week.

Under the BTRC approval, the operators have been allowed to give connections under new prefixes as well as the existing number prefix-es.

Source:http://www.newagebd.net/article/49066/btrc-approves-013-prefix-for-gp-014-for-bl

Impact of Eid-ul-Azha on economy

The size of the Eid-ul-Azha economy is believed to be around Tk

31,000 crore, of which at least Tk 22,000 crore alone comes from cat-

tle sales, as people are increasingly spending more on the back of their

rising purchasing power.

The festival also brings bonanza for bus and launch operators and

commodity traders and fuels the sales of refrigerators and freezers.

Above all, it ensures the supply of half of the annual requirement for

raw materials of the country's second-biggest export earning sector:

the leather and leather goods industry.

Source:https://www.thedailystar.net/news/business/impact-eid-ul-

azha-economy-1624657

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Dhaka stocks rally for 4th week on post-

Eid expectation

Dhaka stocks soared in the past week, shortened by Eid holidays, ex-

tending the gaining streak to the four consecutive weeks, as investors

continued buying shares, especially those of financial stocks amid post

Eid expectation.

The week was shortened to just two trading sessions at the Dhaka

Stock Exchange as Eid-ul-Azha, one of the biggest religious festivals of

Muslims, was celebrated across the country on August 22 and trading

at the DSE remained closed from August 21 to 25 due to the Eid holi-

days and weekly holidays.

Source:http://www.newagebd.net/article/49070/dhaka-stocks-rally-

for-4th-week-on-post-eid-expectation

DSE News

Kattali Textile IPO subscription opens

on Aug 28

The initial public offering (IPO) subscription period of Kattali Textile will start on August 28, according to DSE website.

Applicants will be able to apply for the IPO subscription until Septem-ber 13.

The company will raise capital worth Tk 340 million (34 crore) by offloading 34 million shares at an offer price of Tk 10 each.

The Bangladesh Securities and Exchange Commission (BSEC) ap-

proved the company's IPO proposal on June 26.

Source:http://today.thefinancialexpress.com.bd/stock-corporate/

kattali-textile-ipo-subscription-opens-on-aug-28-1535211649

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newspapers of Bangladesh. Please note that the news summary doesn’t reflect

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presented herein, while obtained from sources we believe to be reliable, is not

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