Dhaka, Bangladesh (BBN)- The Bangladesh Business News (BBN) prepares the morning business round up compiling reports, published by different newspapers and news portals in Bangladesh.
Duty cuts for RMG exports not in sight: The visiting US delegation yesterday declined the country's request for duty reduction on garment items in the inaugural Ticfa talks, saying the issue is in the hands of the World Trade Organisation. Michael J Delaney, assistant US trade representative for South Asia, who is leading the five-member US delegation, said the matter of extending duty privileges to garment products from Bangladesh is part of the Doha Development Agenda of WTO. But the Doha round of negotiations is yet to be completed, he said.
Govt to take up $1.6b training, job scheme: The government is planning to invest US$ 1.6 billion to train and employ 1.5 million workers to meet the shortage of skilled labour force in the country’s burgeoning manufacturing sector, officials said. The programme is likely to start from the next fiscal year and will continue for 10 years. Asian Development Bank and Switzerland would provide 85 per cent and the government 15 per cent of the programme cost. Each year, 150,000 workers are expected to receive training under the ministry of Expatriates’ Welfare and Overseas Employment.
SME credit disbursement sees 9 pc growth in Q1 of current yr: The overall small and medium enterprise (SME) credit disbursement grew by nearly 9.0 per cent in the first quarter (Q1) of the current calendar year following strengthening of monitoring and supervision by the central bank. All scheduled banks and non-banking financial institutions (NBFIs) disbursed Tk 210.53 billion in the January-March period of the current calendar year, compared to Tk 193.52 billion in the corresponding period of the previous year, according to the Bangladesh Bank (BB) statistics.
Launch of commodity exchange to take time: The introduction of a commodity market by the Bangladesh Securities and Exchange Commission will take time as a BSEC committee has suggested that the regulator should develop proper infrastructure before the launch of the market on which commodities are bought and sold for future delivery. The committee in a recent study report observed that allowing any entity to launch commodity market before developing proper infrastructure might cause risk to farmers as well as to consumers and might create opportunities of malpractices in the market, a BSEC high official told New Age.
The BSEC, after completion of demutualisation of the stock exchanges, has moved to launch derivative and commodity markets and to form a separate clearing corporation for the capital market following government instructions.
IDB president says IBBL not involved in terror financing: Visiting President of the Islamic Development Bank (IDB) Dr Ahmad Mohammad Ali Monday said Islami Bank Bangladesh Ltd was not involved in terror financing in any way, reports UNB. He came up with the claim at a press conference held at the IDB Bhaban in the capital's Agargaon area to brief the media about the progress of the IDB's Fael Khair programme of construction of 180 school-cum-cyclone shelters in the country's coastal areas.
MIGA interested to support in Bangladesh power sector: Multilateral Investment Guarantee Agency (MIGA), a wing of the World Bank Group, has showed its interest to support the power sector of Bangladesh. "We've really seen to private investors in power sector right now and therefore paying a visit here to Bangladesh," Keiko Honda, Executive Vice President of MIGA, told reporters after a meeting with finance minister A M A Muhith at his secretariat office in the capital on Monday.
BBN/SSR/AD-29Apr14-8:11 am (BST)