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Morning Briefings Saturday, February 13, 2015

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Morning Briefings Saturday, February 13, 2015 Morning Briefings Saturday, February 13, 2015 MACRO WB readies $7.5b loan recipe for BD The World Bank has readied a development-assistance recipe worth nearly US$7.5 billion for Bangladesh with major reforms in financial sector and developing regional connectivity dominating the list of dos. Officials said Thursday the concessional credit would be provided over the next five years up to financial year (FY) 2019-20. WB's concessional window - the International Development Association (IDA) - has proposed to provide nearly US$5.0 billion worth of assistance. The Bank's private-sector lending arm - the International Finance Corporation (IFC) - would give another amount of about $2.50 billion. Link: http://www.thefinancialexpress-bd.com/2016/02/13/15426 62ND MEETING OF JRC: India asked to ensure due share of water Bangladesh at a joint committee meeting on Friday called upon the Indian side to ensure the country gets its due share of the Ganges waters as per the 1996 treaty, said officials of the Joint Rivers Commission in Dhaka. The Bangladesh-India Joint Committee members reviewed the implementation of the Ganges water sharing treaty amidst drastic fall in the flow of the trans- boundary river inside Bangladesh. The Indian side informed Bangladesh there was ‘less rainfall’ this year in India and consequently the flow in the common rivers like Ganges and Teesta had fallen on both the sides, the JRC officials said after the 62nd meeting of the joint committee. Link: http://newagebd.net/202455/62nd-meeting-of-jrc/ OVERALL MARKET Stocks break three-week losing spell Stocks posted marginal gain last week that ended Thursday, snapping three weeks of losing spell as optimistic investors went on buying spree on lucrative stocks. Market insiders said news- driven price movements were observed during the week, as investors reacted to corporate disclosures, while some booked quick profit in sector specific stocks. The week featured five trading sessions as usual. Of them, three sessions closed higher while two saw marginal fall. Week-on-week, DSEX, the prime index of the Dhaka Stock Exchange (DSE), edged up by 10.23 points or 0.22 per cent to finish at 4,581.35 points. Link: http://print.thefinancialexpress-bd.com/2016/02/13/133896 RMG EP urges RMG exporters, buyers to work jointly Stressing on the importance of ensuring a sustainable readymade garment (RMG) industry, the visiting European Parliament (EP) delegation on Friday urged both exporters and buyers to work together for promoting workplace safety. The four-member EP Delegation, led by Jean Lambart, made the call at a press briefing after holding a discussion with office-bearers of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) at its headquarters. Briefing the media, the visiting EP team leader Jean Lambert said they have been following the progress in the local RMG sector. He recognised it as an immensely important sector for both Bangladesh and the European Union (EU), where the major chunk of Bangladeshi clothing is exported. Link: http://print.thefinancialexpress-bd.com/2016/02/13/133909 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 Saturday, February 13, 2015 TELECOMMUNICATION Four fresh BTRC licences soon for electronic vehicle-tracking firms Bangladesh Telecommunication Regulatory Commission (BTRC) is going to award licences to four electronically vehicle-tracking firms very soon, as the system proved an effective safeguard against carjacking. The organisations are Air Cell International Limited, Security and Management Service Limited, Optimax Communications Limited and BDcom Online Limited. The remote-controlled vehicle-tracking system (VTS) is getting popularity in the country, especially to the corporate users, NGOs, banks, insurances, garment-makers, foreign missions and the like. BTRC started licensing electronic vehicle-tracking system in 2009.The technology has helped retrieve about a dozen covered vans and freight trucks stolen on different highways since the introduction, according to industry-insiders. Link: http://print.thefinancialexpress-bd.com/2016/02/13/133910 BOND Govt decides to go slow about floating sovereign bond Government move for fundraising by floating sovereign bonds has lost gear purportedly for available cheaper money from different alternative sources besides idle dollars in its own coffers. Economists and experts termed the 'go-slow' policy of the government 'appropriate' as they find no reason to seek high-cost funds when low-cost money is available aplenty. "Presently there is no dearth of foreign funds rather our foreign-currency reserves are quiet healthy. Besides, a process is on to float a billion-dollar worth of taka bond. We did not cancel the decision to float sovereign bond, but there is no hurry," finance secretary Mahbub Ahmed told the FE. Link: http://print.thefinancialexpress-bd.com/2016/02/13/133934 Disclaimer The information and data on which this report is based are obtained from sources which we believe to be reliable but do not guarantee that it is accurate or complete. Universal Financial Solutions Limited accepts no responsibility whatsoever for any direct or indirect consequential loss arising from any use of this report or its contents. Investors are advised to take professional advice before making investments and Universal Financial Solutions Limited does not take any responsibility and shall not be held liable for undue reliance on this report. This report may not be reproduced, distributed or published by any recipient for purpose. 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 .
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