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Morning Briefings Monday, February 15, 2016 Morning Briefings Monday, February 15, 2016 MACRO Cos must go by 36 provisos to operate container ports Private entrepreneurs seeking to obtain customs bond licence for operating private inland water container terminal (IWCT) will have to comply with a multipronged set of guidelines, including one on adequate facilities for external trade. Officials said customs wing of the National Board of Revenue (NBR) recently issued the policy with the comprehensive guidelines with some 36 conditions binding private IWCT ventures. They said the policy was framed under 'The Customs Act 1969, section 12 and section 219 (B)'. Link: http://print.thefinancialexpress-bd.com/2016/02/15/134118 Financial management strategy in the offing A new public financial management strategy is in the final stages of making as attaining fiscal discipline and its transparency now comes into government policy focus. Officials said the strategies in vogue do not fit in government planning and priorities, leading to delay in execution of projects. The one now in the making is expected to help synchronise government planning, execution of budget and modern accounting to avoid abuse of public money. The finance division has already prepared the draft. It also organised a two- day national seminar in Habiganj that ended on February 13. Link: http://print.thefinancialexpress-bd.com/2016/02/15/134116 Spl fund to back mega projects in the offing The government, for the first time, is set to create a special fund to finance its mega projects for their smooth implementation, officials said. The Ministry of Finance (MoF) will sit today (Monday) to discuss the pros and cons of creating the proposed fund. "We are mulling allotting a separate fund for facilitating the government's large-scale development projects," MoF additional secretary Jalal Ahmed told the FE on Sunday. The move is taken to provide special funding support to the mega projects, especially when those would face any financial problem, he added. Presently, funds for the mega projects are allocated in the usual budget, and there is no separate allocation or budget for them, a senior official of the ministry said. Link: http://print.thefinancialexpress-bd.com/2016/02/15/134109 EO Bangladesh Chapter launched Entrepreneurs' Organisation (EO), the world's largest peer-to-peer global network of entrepreneurs officially launched EO Bangladesh Chapter Saturday at city's Westin Hotel. State Minister for Power, Energy and Mineral Resources Narsul Hamid, MP was present as the Chief Guest. President of International Chamber of Commerce, Bangladesh Mahbubur Rahman and Chairman of Summit Group Md. Aziz Khan were present as guest of honour. EO Global Chairman Gilberto Crombe was also present on the occasion, said a statement. The Entrepreneurs' Organisation (EO) is a global network of more than 11,000 influential business owners with 154 chapters in 49 countries. Link: http://print.thefinancialexpress-bd.com/2016/02/15/134063 UN ready to help B'desh deepen digital finances The United Nations is interested to deepen its engagement in Bangladesh's digital financing looking at new areas in support of the government's vision, officials said. The UN Capital Development Fund (UNCDF), which has been providing financing to small and medium enterprises (SMEs) in Bangladesh since 1970, expressed its interest to extend cooperation to other sectors. The UNCDF has proposed visit of a high-level delegation in Bangladesh to discuss the issues and find possible areas of cooperation with government officials. During the last seven to 10 years, the UNCDF has shifted its area of work to local government financing, particularly fiscal decentralisation and supplementing existing sources of capital assistance through providing grants and loans. Link: http://print.thefinancialexpress-bd.com/2016/02/15/134073 Universal Financial Solutions Limited Paramount Heights, Level-11,65/2/1, Box Culvert Road, Purana Paltan, Dhaka-1000, Phone: 02-7122152,9587880, Fax:02-9513934, Web: www.ufslbd.com Morning Briefings Monday, February 15, 2016 Aman Group to set up economic zone Bangladesh Economic Zones Authority (BEZA) will award a prequalification licence to Aman Group today to let it invest $267 million or around Tk 2,100 crore to set up an economic zone in Narayanganj. It will be the sixth economic zone to be built by a private sector entity. Aman Economic Zone will be developed on a 150-acre plot, though the licence is for 90 acres, BEZA officials said. Another licence will be given later for the rest 60 acres, when the company meets the remaining conditions of Beza. In the economic zone, Aman Group will set up factories for various industries such as cement, packaging, shipyard, food and beverage, steel manufacturing and power generation. Link: http://www.thedailystar.net/business/aman-group-set-economic-zone-511072 Govt to cut prices of OMS rice, wheat to clear stocks The government is likely to reduce the prices of rice and wheat for open market sales in a bid to clear stocks -- a move that will cost the state up to Tk 350 crore. The cuts, which would be the second in four months, come after disappointing sales through OMS operations due to low prices of the staples in the market. Between July last year and January 28 this year, 1,028 tonnes of rice and 1.14 lakh tonnes of wheat were sold through OMS, according to data from the food ministry. A year earlier, 56,832 tonnes of rice and 1.54 lakh tonnes of wheat were sold. Link: http://www.thedailystar.net/business/govt-cut-prices-oms-rice-wheat-clear- stocks-511111 Developing livestock sector stressed Speakers at a seminar here on Sunday stressed the need for rapid development of the country's livestock sector aiming to eliminate poverty and address the widespread problems of malnutrition, reports UNB. They said the country's livestock sector can play a strong role as about 26 per cent people still live under the poverty line and 12 per cent of them are extreme poor while 17 per cent suffer from malnutrition. Bonikbarta, a vernacular business daily, and ACI Limited jointly organised the seminar at Bangabandhu International Conference Centre in the capital. Speaking as the chief guest, Planning Minister AHM Mustafa Kamal said the government gives emphasis on the livestock sector to boost its production and thus address poverty and increase the country's GDP growth. Link: http://print.thefinancialexpress-bd.com/2016/02/15/134080 1.428m fishermen registered for financial support: Minister The government with a view to providing financial support to marginal fisherman has so far registered some 1.428 million fishermen from 482 upazilas and brought 1.31 million fishermen under data entry system, reports BSS. Fisheries and Livestock Minister Mohammad Sayedul Haque disclosed this in parliament Sunday while replying to a question from treasury bench member Shamsul Haque Chowdhury of Chittagong-12. "We have taken photographs of 1.05 million fishermen and prepared 1.05 million identity (ID) cards for fishermen for this purpose," he said. Link: http://print.thefinancialexpress-bd.com/2016/02/15/134085 Feb occasions bring blessings to flower businesses The business with flowers is turning into an industry with a lot of promises for domestic market and for exports, with the month of February playing the tremendous role in helping the flower industry to flourish, reports UNB. The Pahela Falgun (the beginning of the spring), Valentine's Day and the International Mother Language Day on February 21 are the days in February that see jump in sales of flower, enabling sellers to make windfall profits. Shahbag has emerged as major hub of flower trading - both wholesale and retail - in view of its proximity with Dhaka University campus, Central Shaheed Minar and banking on the higher demand for flower on special days. Link: http://print.thefinancialexpress-bd.com/2016/02/15/134078 Universal Financial Solutions Limited Paramount Heights, Level-11,65/2/1, Box Culvert Road, Purana Paltan, Dhaka-1000, Phone: 02-7122152,9587880, Fax:02-9513934, Web: www.ufslbd.com Morning Briefings Monday, February 15, 2016 OVERALL MARKET Stocks see lacklustre trading Dhaka stocks ended flat Sunday as majority number of listed stocks went red on Dhaka Stock Exchange (DSE). The benchmark index avoided any significant fall, as investors' concentration was on the stocks of heavy weight companies. On the day, the benchmark index DSEX shed 0.01 per cent or 0.78 points to close at 4580 points on Dhaka Stock Exchange (DSE). DSE Shariah index DSES rose 0.30 per cent or 3.40 points to close at 1122 points, whereas the blue chip index DS30 went up by 0.05 per cent or 0.98 points to close at 1760 points. "Indecisiveness and watchful stance among the investors resulted into flat closing after daylong ups and down. Link: http://print.thefinancialexpress-bd.com/2016/02/15/134061 10 cos capture 41.0pc turnover on DSE The top 10 companies of the most traded stocks Sunday captured around 40.40 per cent of the day's total turnover observed on the Dhaka Stock Exchange (DSE). The turnover on the premier bourse was above Tk 4.27 billion, whereas the turnover of the top 10 companies was above Tk 1.72 billion. Among the companies, BSRM captured 7.8 per cent of the day's turnover with its own turnover of Tk 333.8 million. A total of 2,096,712 shares of the company changed hands at the prices ranging Tk 150 to Tk 160.9. A total of 1,707,449 shares of UPGDC worth Tk 281.32 million changed hands at the prices ranging Tk 162 to Tk 166.5. Link: http://print.thefinancialexpress-bd.com/2016/02/15/134068 BANK BB orders tighter security for ATMs The central bank yesterday asked all banks to tighten security, including installing anti- skimming devices at their ATM booths, in a bid to crack down on rising card frauds.
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