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.
Fast-track energy projects go off-track
The four “fast-track” power and energy projects except one have failed to make any notable progress and these are still at the initial stage of implementation, insiders said Wednesday. The LNG (Liquefied National Gas) terminal project is the one that has managed to show better progress, they said.
Development spending to fall short again
The government looks set to fall way short of implementing the development budget yet again, despite repeated assurances by Planning Minister AHM Mustafa Kamal that the full amount would be utilised this fiscal year. In the first ten months of fiscal 2017-18, 52.42 percent of the allocation for the annual development programme has been used, in contrast to 54.56 percent a year earlier, according to data from the planning ministry’s Implementation Monitoring and Evaluation Division.
2 lakh farmers facing certificate cases
About two lakh farmers across country are facing certificate cases for defaulting repayment of agricultural loans. The financial burden caused grave concern among the affected families, according to the farmers as well as the banks.
Study: Bangladesh needs to focus on service exports in preparation for LDC graduation
According to a study by the Bangladesh Foreign Trade Institute (BFTI), the country needs to concentrate on service exports as it is not only the most dynamic segment of global trade, but also because Bangladesh will lose preferential trade facilities after graduation from LDC status. The BFTI study, titled “Export Potentials of Trade in Service in Bangladesh,” was revealed at a workshop at the CIRDAP auditorium in Dhaka on Wednesday.
Bangladesh to develop uniform calculation of forward rate
The central bank of Bangladesh has planned to develop uniformity of forwards rates calculation among the banks aiming to ensure the discipline in the country’s foreign exchange market. Under the latest moves, the Bangladesh Bank (BB), the country’s central bank, has asked nine scheduled banks to submit their methodology of calculation on forward rates within a week.
IFC to pump $72m into two local industrial groups
The International Finance Corporation (IFC) has sought the government’s approval for investing US$ 72 million in two local conglomerates to make sure both groups get working capital, officials said. According to its articles of agreement, the World Bank’s private lending arm needs to take prior permission from the member state concerned if it wants to finance an enterprise in the territories of that country.
DSE, CSE agree on shareholding ratio for clearing co
Dhaka and Chittagong stock exchanges on Wednesday reached a consensus on their shareholding rates in the proposed clearing and settlement company, Central Counterparty Bangladesh Limited, with the bourses hoping to form the company within one week.
Accord’s extension runs into trouble
The Accord’s bid to prolong its stay in Bangladesh became uncertain after the High Court yesterday extended its restraining order on the government from extending the inspection agency’s tenure by three more months. Earlier on May 10, the EU-based factory inspection and remediation agency got the extension from the government to stay on in Bangladesh for six more months after its original five-year tenure ends on May 31.