Bangladesh, Dhaka (BBN) – Bangladesh Business News prepares Tuesday’s evening business round up compiling reports, published by different newspapers and news portals.
Ultra-low interest rates are here to stay: 2021 central bank guide
Central banks are set to spend 2021 maintaining their ultra-easy monetary policies even with the global economy expected to accelerate away from last year’s coronavirus-inflicted recession. In Bloomberg’s quarterly review of monetary policy that covers 90% of the world economy, no major western central bank is expected to hike interest rates this year. China, India, Russia and Mexico are among those predicted to cut their benchmarks even further. Only Argentina and Nigeria are forecast to raise rates.
Merchandise export in December declined by 6.11 percent: EPB
Merchandise export in December declined by 6.11 percent, year on year, to $3.30 billion because of drop in garment products export — an impact of Covid-19 fallout, according to data from the Export Promotion Bureau (EPB). The December earning from goods shipment is also 6.13 percent below the monthly export target at $3.50 billion, the data said.
Bangladesh’s stocks snap eight-day winning streak: DSE daily turnover hits 10-year high
Bangladesh’s tocks ended lower on Tuesday, snapping an eight-session winning streak, as investors opted for booking profit on major sectors issues amid vaccine uncertainty news. However, the daily trade turnover on DSE jumped over a BDT 25-billion, hitting a 10-year high. Turnover, an important indicator of the market, stood at BDT 25.46 billion on the country’s premier bourse on Tuesday, a further buck by 16 per cent over the previous day’s tally of BDT 21.93 billion.
Vaccine export is permitted to all countries: Serum Institute CEO
Serum Institute of India chief executive officer Adar Poonawala said that exports of COVID-19 vaccines were permitted to all countries. In a tweet on Tuesday, he said, ‘I would like to clarify two matters; as there is confusion in the public domain, exports of vaccines are permitted to all countries and a joint public statement clearing up any recent miscommunication with regards to Bharat Biotech will be made.’ He, however, did not clarify when the export will be made available or if the vaccines will be available on time in Bangladesh as expected earlier in the late January or early February as per a tripartite deal with SII, Bangladesh government and its local vendor Beximco.
Hyundai cars to be made in Bangladesh
Cars of globally renowned brand Hyundai will be manufactured in Bangladesh. Fair Technology Ltd, the local distributor of Hyundai Motor Company, will set up a designated factory at the hi-tech park of Kaliakair in Gazipur, to execute the plan. The company signed an agreement with Bangladesh Hi-Tech Park Authority in this regard at a hotel in Dhaka on Tuesday , in presence of ICT State Minister Junayed Ahmed Polok, said a press release.
Asia markets mostly higher
Shares of Chinese telecommunications giants surged in Tuesday trade after the New York Stock Exchange announced it will no longer delist the firms. Hong Kong-listed shares of China Mobile soared 5.13% while China Unicom surged 8.5%. China Telecom’s stock jumped 3.35%. Shares in other Asia-Pacific markets were mixed on Tuesday. In Japan, the Nikkei 225 declined 0.37% to close at 27,158.63 while the Topix index finished its trading day 0.19% lower at 1,791.22. South Korea’s Kospi jumped 1.57% to close at 2,990.57. Shares in Australia were little changed on the day, with the S&P/ASX 200 largely flat at 6,681.90. MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.74% higher.
Oil prices tick up on OPEC studying output cut, Iran tensions
Oil prices inched up on Tuesday as tension around Iran’s seizure of a South Korean vessel simmered and after it emerged that the OPEC+ group is studying a possible production cut in February, according to a document. Brent crude futures for March rose 89 cents to $52.00 a barrel, while U.S. West Texas Intermediate crude for February was up 84 cents, or 1.8%, at $48.46 per barrel.