Dhaka, Bangladesh (BBN) - The BBN has prepared the morning business round up compiling reports, published by different newspapers and news portals in Bangladesh.
Trans-border transit modalities left cloaked in confusions
The execution process of trans-border transit trade with neighbouring countries seems cloaked in confusions as the government has yet to assign any specific lead ministry to deal with the issues, officials said. A provision on 'transit trade through Bangladesh' is incorporated into the Allocation of Business of the ministry of commerce (MoC). But the responsibilities have been reallocated to two other ministries in phases. In 2012, the Prime Minister's Office (PMO) empowered the ministry of shipping (MoS) to deal with cross-border transit. Later, the ministry of foreign affairs (MOFA) has been assigned to the task of coordinating in such matter.
Processed chicken market to heat up
The soaring demand for easy and hygienically-prepared foods among the urban middle class is pulling in large investors to the processed chicken and ready-to-cook frozen foods sector, industry operators said. Local poultry giant Kazi Farms recently entered the segment to grab a pie of the Tk 150-crore market that is growing by more than 20 percent a year. Pran, a processed food conglomerate, and Abdul Monem Ltd, an infrastructure contractor and ice cream giant, are also queuing up to make a foray. The soaring demand for easy and hygienically-prepared foods among the urban middle class is pulling in large investors to the processed chicken and ready-to-cook frozen foods sector, industry operators said.
Helpline launched for RMG workers
The Department of Inspection for Factories and Establishments on Sunday launched a telephone helpline for the readymade garment workers so that they could raise any concern about possible fire, building safety and worker rights. State minister for labour Mujibul Haque, who attended the launching ceremony held at the ministry’s conference room as chief guest, said the government had established the helpline to ensure effective complaint management for the workers. The helpline (0800 44 55 000) will be run by the DIFE and has been established with the technical and financial support of the International Labour Organisation and Norway government.
NBFIs asked to introduce uniform A/C opening, KYC forms
The central bank of Bangladesh has asked the non-banking financial institutions (NBFIs) to introduce uniform account (A/C) opening and KYC (known your customer) forms by June 30. The NBFIs have also been asked to inform about the matters to the Bangladesh Financial Intelligence Unit (BFIU) of the central bank by July 7 this year. The Bangladesh Bank (BB) issued a circular in this connection on Sunday and asked the chief executive officers and managing directors of all 31 NBFIs to maintain all information of customers properly.
Garment brands stall progress in Bangladesh
International and European trade union bodies are calling on the European Union to bolster action on workers’ rights and safety in the apparel sector of Bangladesh. The Bangladesh government has failed to implement vital labour law reforms, and a compensation fund for victims of the Rana Plaza disaster still remains US$ 9 million short of the target, said a press statement of International Trade Union Confederation (ITUC).
Bangladesh’s stocks down for third day
Bangladesh’s stocks extended their losing streak for the third running sessions on Sunday with dull trading activities as investors remained concerned over the prevailing political unrest in the country. DSEX, the prime index of the Dhaka Stock Exchange (DSE) went down by 20.54 points or 0.45 percent to close at 4,536.39 points. The DS30 index, comprising blue chips lost marginally by 5.00 points or 0.29 percent to close at 1,709.40 points.
Govt borrows BDT 16bn issuing T-bills
The government borrowed BDT 16 billion through issuing its treasury bills (T-bills) on Sunday to finance budget deficit partly, official said. Total 24 bids of BDT 10.3940 billion for 91-Day T-bills and 36 bids of BDT 13.8096 billion for 182-Day T-bills were offered. Of those nine bids of BDT 2.00 billion for 91-Day T-bills and 19 bids of BDT 8.oo billion for 182-Day T-bills were accepted.
BBN/SSR/AD-16Ma15-11:16 am (BST)