HIGHLIGHTS OF THE DAY

TK 848CR PROJECT

APPROVED TO WIDEN

ROAD TO BOOST INDO

-BANGLA TRADE

The government yesterday took up a Tk 848.3 crore project to widen a road that would broad-en bilateral trade between India and Bangladesh.

Source: https://www.thedailystar.net/business/news/tk-848cr-project-approved-widen-road-boost-indo-bangla-trade-1947389

INVESTORS OF ECO-

NOMIC ZONES SEEK

PMO’S HELP TO

CLEAR HURDLES

The Bangladesh Economic Zones Investors Association (BEZIA) has sought interven-tion from the Prime Minister's Office (PMO) to help address some of the obstacles for in-vestment in the country's eco-nomic zones.

Source: https://www.thedailystar.net/business/news/investors-economic-zones-seek-pmos-help-clear-hurdles-1947353

INCOME OF POOR LONG WAY

FROM RETURNING TO PRE-

PANDEMIC LEVEL

The income of the poor remains 42 per cent be-low the pre-pandemic levels although the econo-my reopened in June and activities recovered from the near-collapse for the coronavirus-caused shutdown.

The resumption has only modestly reversed the steep earnings drop in April and reduced the number of the crisis-caused "new poor" by 1.1 per cent to 21.7 per cent.

Food insecurity remains high as 11 per cent of the urban poor, including 15 per cent in Dhaka, do not get three meals a day. Nearly one-third of the poor had to cut consumption to cope with the crisis.

Source: https://www.thedailystar.net/business/news/income-poor-long-way-returning-pre-pandemic-level-1947369

Bangladesh: Economy August 19, 2020

TEXTILE SECTOR BREATHING A

SIGH OF RELIEF WITH THE RE-

BOUND OF APPAREL EXPORT OR-

DERS

The sale of yarn and fabrics of export-oriented spinning and weaving mills is on the rise thanks to a higher inflow of work orders from international clothing retailers.

This has put the country's primary textile sector, which incurred losses of more than Tk 20,000 crore for the economic whiplash by the corona-virus pandemic, on the path of a quick recovery although prices remain below expectations, said millers.

Both textile millers and garment exporters say more and more of the production capacity of their factories was coming to use for the higher inflow of work orders from retailers.

Source: https://www.thedailystar.net/business/news/textile-sector-breathing-sigh-relief-the-rebound-apparel-export-orders-1947365

HIGHLIGHTS OF THE DAY

STOCKS EXTEND LOSSES AS PROFIT

BOOKING SELL-OFFS CONTINUES

Stocks extended the losing spell for the two consecu-tive sessions on Tuesday as risk-averse investors con-tinued their profit booking sell-offs on major sector shares.

DSEX, the prime index of the Dhaka Stock Ex-change, went down by 1.35 per cent or 64.93 points to settle at 4,720, after witnessing volatility throughout the session.

Source: https://thefinancialexpress.com.bd/stock/stocks-extend-losses-as-profit-booking-sell-offs-continues-1597746260

Bangladesh: Economy August 19, 2020

‘TRUMP WRONG PRESIDENT’

Former first lady Michelle Obama launched a blister-ing attack on President Donald Trump on Monday and urged Americans to elect Democrat Joe Biden in November to end the chaos she said had been created during the four years of Trump's presidency.

In an impassioned speech capping the first night of the Democratic National Convention, Obama said the Republican Trump "has had enough time to prove that he can do the job" but had failed to meet the moment in a country reeling from the coronavirus pandemic, economic turmoil and racial injustice.

Source: https://www.thedailystar.net/world/news/trump-wrong-president-1947313

“Stay at home, wash your hand, protect your loved ones.”

NO EVIDENCE HEZBOLLAH LEADER-

SHIP INVOLVED

A UN-backed tribunal yesterday said there was no evidence the leadership of Hezbollah or the Syrian government were involved in the 2005 killing of for-mer Lebanese Prime Minister Rafik al-Hariri.

Four members of the Iran-backed Shi'ite movement Hezbollah are charged with conspiracy to carry out the massive bomb attack that killed Hariri and 21 oth-er people.

Source: https://www.thedailystar.net/world/news/no-evidence-hezbollah-leadership-involved-1947305

SBAC BANK APPROVES 10PC STOCK

DIVIDEND

The 7th Annual General Meeting of South Bangla Agriculture and Commerce (SBAC) Bank Limited was held online on Tuesday, said a statement.

S.M. Amzad Hossian, Chairman of SBAC Bank, pre-sided over the meeting. The AGM approved 10 per cent stock dividend for the year ended on December 31, 2019.

Source: https://thefinancialexpress.com.bd/stock/sbac-bank-approves-10pc-stock-dividend-1597809370

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