Daily Banking News Links 12.01.2019
Economic growth in Bangladesh and the role of banking sector
Barkat-e-Khuda | January 12, 2019 00:00:00
Bangladesh has come a long way in its economic growth. From a meagre US$ 5.70 billion in 1972, the gross domestic product (GDP) increased to US$ 285.82 billion in 2018. The Bangladesh economy is the 42nd largest in the world in nominal terms and 31st largest in terms of Purchasing Power Parity (PPP). Recently, Bangladesh graduated from least developed country (LDC) status to a lower middle income country, and hopes to become a developed country by 2041……………
MFs post 16pc portfolio loss in 2018
Mostafizur Rahman | Published: 00:00, Jan 12,2019
Listed mutual funds performed poorly in the just concluded year (2018) as the sector registered a portfolio loss of 16.4 per cent in the year, whereas the market dropped by 13.75 per cent.
The total net asset value of closed-end mutual funds was Tk 5,718.53 crore in December, 2018, which was Tk 6,840.29 crore in December, 2017, according to a LankaBangla Finance market research…………
Pakistan trade deficit narrows in Jul-Dec
Reuters. Islamabad | Published: 00:00, Jan 12,2019
Pakistan’s trade deficit in July-December, the first half of the fiscal year, narrowed by 5 per cent from the same period in 2017, helped by efforts to curb imports and ward off a looming balance of payments crisis, the finance ministry said on Thursday.
The trade deficit fell 5 per cent to $16.8 billion, from $17.7 billion in July-December 2017, with imports down 2 per cent to $28 billion from $28.7 billion and exports up more than 2 per cent in the same July-December period, the ministry said………….
Savings tools buying to come under govt scanners
Investors will be required to submit eTINs
The government is set to create a database of buyers of government-sponsored savings instruments.
The objective behind the creation of database is to see whether the savings opportunity is abused by exceeding the investment limit or making ‘benami’ (fictitious) investments.
From February next, the savers will require national identity cards, bank accounts, mobile numbers and tax-identification numbers while purchasing the national savings certificates and bonds………
Stocks keep marching higher
Average daily turnover climbs 37pc on DSE
Stocks witnessed yet another bullish week that ended on Thursday, as enthusiastic investors continued to pour money into stocks amid improved market sentiment.
On a week-on-week basis, DSEX, the prime index of the Dhaka Stock Exchange (DSE), jumped 206.83 points or 3.70 per cent to close at 5,797………..
Export of plastic goods marks 21pc rise in H1 of current FY
Relocation of factories from old Dhaka urgently needed
The country’s export of plastic goods marked a 21 per cent rise in the first half of the current fiscal year (FY) over the corresponding period of last fiscal.
The plastic sector fetched US$ 56.54 million during the July-November period of FY 2018-19 compared to the first half of 2017-18 FY 46.63 million US$………….
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