HIGHLIGHTS OF THE DAY

BB RELEASES MONE-

TARY POLICY TOMOR-

ROW

The central bank unveils its monetary policy for this fiscal year tomorrow (Wednesday) aiming to help revamp the eco-nomic activities through the implementation of stimulus packages.

Bangladesh Bank will announce the monetary policy statement (MPS) for the fiscal year 2020-21 on its website to withstand the adverse impact of the Covid-19 pandemic on the economy, officials said.

Source: https://thefinancialexpress.com.bd/economy/bb-releases-monetary-policy-tomorrow-1595907539

RECKITT BENCKISER

PROFITS OFF PEO-

PLE’S HEIGHTENED

HYGIENE HABITS

AMID PANDEMIC

Reckitt Benckiser Bangladesh witnessed robust growth in sales and profits in the pandem-ic-ravaged first half of 2020 on the back of higher sales of hy-giene products.

Source: https://www.thedailystar.net/business/news/reckitt-benckiser-profits-peoples-heightened-hygiene-habits-amid-pandemic-1937369

REMITTANCE HITS RECORD HIGH

IN JULY

The monthly inflow of remittance hit an all-time high in July ahead of Eid-ul-Adha, with the figure reaching almost $2 billion in the first three weeks.

According to data from the Bangladesh Bank, the country received $1.96 billion in remittance from expatriates from July 1 to 23.

In June, the last month of fiscal year 2019-20, $1.83 billion came in.

Source: https://tbsnews.net/economy/remittance-hits-record-high-july-112366

Bangladesh: Economy July 28, 2020

IMBALANCED MONEY MARKET

CAUSES BANKS TO SHIRK PRIVATE

SECTOR LENDING

The high interest rate on risk-free investment tools and the low rates of return on risky loans have created a serious imbalance in the money market, causing banks to steer clear of the private sector.

This has also exposed the inefficiency of the Bangladesh Bank in controlling money move-ment.

As money tends to flow towards high returns, the money from banks is going towards risk-free in-vestment while the private sector is being left high and dry.

Source: https://tbsnews.net/economy/banking/imbalanced-money-market-causes-banks-shirk-private-sector-lending-111901

HIGHLIGHTS OF THE DAY

STOCKS KEEP GAINING AMID OPTI-

MISM

Stocks kept the gaining streak for the two con-secutive sessions on Monday as the buoyant in-vestors continued their appetite on large-cap is-sues amid optimism.

DSEX, the key index of the Dhaka Stock Ex-change (DSE), went up by 16.30 points or 0.39 per cent to settle at 4,145 during the four hours trading.

Source: https://thefinancialexpress.com.bd/stock/

stocks-keep-gaining-amid-optimism-1595841977

Bangladesh: Economy July 28, 2020

I WAS DUPED BY MAHATHIR

Malaysia's Parti Keadilan Rakyat (PKR) president Anwar Ibrahim has now realised that he was duped by Dr Mahathir Mohamad when the latter promised to pass on the country's top job to him, Sin Chew Daily reported.

In an exclusive interview with the newspaper, the Pakatan Harapan leader said he had believed that Dr Mahathir would fulfil his promise of handing over the baton to him after two years in office.

Source: https://www.thedailystar.net/world/news/i-

was-duped-mahathir-1937413

“Optimism is a happiness magnet. If you stay positive good

things and good people will be drawn to you. ”

- Mary Lou Retton

RECKITT BENCKISER'S PROFIT JUMPS

53PC IN Q2

Reckitt Benckiser Bangladesh's profit after tax jumped more than 53 per cent in April-June, 2020 quarter due to strong revenue growth driv-en by increased demand of personal hygiene products during pandemic.

The board of directors of the company in a virtu-al meeting on Sunday approved the un-audited financial statements for April-June, 2020 period.

Source: https://thefinancialexpress.com.bd/stock/

reckitt-benckisers-profit-jumps-53pc-in-q2-1595909086

INDIA BANS 47 MORE CHINESE APPS

India has banned 47 more Chinese apps just weeks after blocking the highly popular video-sharing platform TikTok and 58 others over na-tional security and privacy concerns, an infor-mation ministry official and media reports said yesterday.

Tensions between the world's two most-populous nations soared last month after a Him-alayan border clash that left 20 Indian troops dead and an unknown number of Chinese casual-ties.

Source: https://www.thedailystar.net/world/news/

india-bans-47-more-chinese-apps-1937393

HIGHLIGHTS OF THE DAY

GOLD HITS RECORD HIGH AS US-

CHINA TIES WORSEN

Gold hit an all-time high on Monday as tit-for-tat consulate closures in China and the United States rattled investors, boosting the allure of safe haven assets, although sentiment was mixed with tech gains supporting some Asian stocks.

MSCI's ex-Japan Asia-Pacific index rose 1.3 per cent as Taiwan's TSMC, Asia's third-largest com-pany by market capitalisation, rose almost 10 per cent.

The chipmaker's gains boosted other tech stocks in the region and came after rival Intel signalled it may give up manufacturing its own components due to delays in new 7 nanometer chip technolo-gy.

Source: https://www.thedailystar.net/business/news/gold-hits-record-high-us-china-ties-worsen-1937333

Bangladesh: Economy July 28, 2020

A Bedouin reclines on a

rooftop carved 2,000 years

ago in Petra, Jordan. The

stone city drew more than

a million tourists in 2019

alone.

PHOTO OF THE DAY PANDEMIC TURNS EUROPE’S RE-

TAIL SECTOR ON ITS HEAD AS

SHOPPERS STAY CLOSE TO HOME

City centre shops and malls may have lost their lustre during the COVID-19 pandemic, but as lockdowns ease across Europe many stores in and around residential areas stand to benefit as con-sumers remain reluctant to venture far from home.

While retail sales appear to be rebounding - surg-ing 17.8 per cent in the euro zone in May and approaching pre-lockdown levels in Britain in June - shoppers are increasingly staying local, leaving Europe's most renowned shopping dis-tricts from London's West End to Berlin's Kurfrstendamm struggling in the absence of of-fice workers and tourists.

Source: https://www.thedailystar.net/business/news/pandemic-turns-europes-retail-sector-its-head-shoppers-stay-close-home-1937337

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