Dhaka, Bangladesh (BBN) – The BBN (Bangladesh Business News) has prepared the morning business round up compiling reports, published by different newspapers and news portals in Bangladesh.
Deposit rates in reverse course as liquidity problem deepens
The interest rate on term deposits has reached double digit after about a couple of years as the banks are now out of comfort zone, as far as their liquidity position is concerned. The overall deposit rates started creeping up since the beginning of this calendar year, primarily due to withdrawal of funds from private banks by a section of depositors, including public sector agencies.
Bangladesh Govt. resumes bank borrowing after a month
The Bangladesh government has resumed the auctions of treasury bills (T-bills) and bonds for the month of March after a month suspension to finance budget deficit partly. The government is set to borrow BDT 33 billion through holding the auction of T-bills and Bangladesh Government Treasury Bonds (BGTBs) in the current month, according to officials.
Top Vietnamese leathergoods maker to invest $100m in Bangladesh
Vietnam’s leading leathergoods manufacturer TBS plans to invest $100 million in Bangladesh, said Saiful Islam, president of Leathergoods and Footwear Manufacturers and Exporters Association of Bangladesh (LFMEAB). The company wants a 1.30 lakh to 1.50 lakh square metre space to set up a factory either in Dhaka or Chittagong to produce leather footwear and footwear components for overseas markets, he said.
Kuwait again imposes ban on Bangladeshi workers
Kuwait has reportedly imposed a ban on the recruitment of Bangladeshis to work in the northern Arabian Gulf state, according to report of Gulf News published on Monday. Kuwaiti interior minister Shaikh Khalid Al Jarrah has ordered the ban citing a security source and asked the interior ministry to apply it, the Gulf News quoted Kuwaiti daily Al Jareeda.
Bangladesh Bank sells $22m to seven banks
The central bank of Bangladesh has sold US$22 million more to seven commercial banks to meet the growing demand for the greenback in the market. “We’ve sold the foreign currency to the banks on Monday at market rate to settle import payment bills particularly for fuel oil, food grains and capital machinery,” a senior official of the Bangladesh Bank (BB) told the BBN in Dhaka.
Ministry to seek Tk 5,000cr cut in ADP today
The size of annual development programme may be slashed by Tk 4,950.25 crore or 3.23 per cent in the revised ADP for the current fiscal year of 2017-2018. The National Economic Council may approve the revised ADP at a meeting to be held at the NEC conference room at Agargaon in Dhaka today.
National Jute Day: Govt initiatives aim to reclaim the golden era of jute
Jute is seeing the light of hope once again as the government has undertaken numerous initiatives to revitalize the once loss-mired golden fibre of Bangladesh. The cultivation of jute and production of its jute goods have increased. Jute mills are also being modernised. Preparations are underway to mark National Jute Day on March 6.
Set minimum qualification criterion for bank directors
An expert suggestion from an international meet in Dhaka calls for devising a minimum qualification criterion for bank directors to ensure better governance within the financial sector. At a time when banks in Bangladesh are facing some major management problems, the banking experts from home and abroad also suggested creating a fit list for the directors of the banks and arranging training for them to enhance the capacity of banks’ governing bodies.