Dhaka, Bangladesh (BBN) - The BBN has prepared the morning business round up compiling reports, published by different newspapers and news portals in Bangladesh.
ACC sues 56
The Anti-Corruption Commission yesterday filed 18 cases against a number of bankers and borrowers linked with the Tk 5,000-crore BASIC Bank scam between 2010 and 2013. Of the cases, eight were lodged with Gulshan Police Station, seven with Paltan Model Police Station and three with Motijheel Police Station, accusing 56 people of embezzling over Tk 650 crore from the state lender, said police.
Trade, not manufacturing, gets bulk of SME loans in H1
SME loan disbursement by banks and non-bank financial institutions increased by 19.02 per cent to Tk 56,132 crore in the first six months of this year compared with that in the same period a year ago, but 63.35 per cent of the loans went to trade or unproductive sectors, the latest BB data showed.
Cattle sale yet to gain impetus in city
The city's cattle markets started witnessing ample stock of sacrificial animals on Monday, brushing aside the speculation over short supply of such animals following India's strict border policy. However, sales in the markets are yet to gain momentum with just three days to go before celebrating the Eid-ul-Azha (on Sep 25), leaving cattle traders in doldrums over their business prospects.
Call money rate unlikely to rise ahead of Eid
The inter-bank call money rate is unlikely to rise ahead of the Eid-ul-Azha because of having excess liquidity with most of banks, treasury officials said. The call rate ranged between 5.25 per cent and 6.50 per cent on Tuesday unchanged from the previous level. However, most of the deals were settled at rates varying between 5.50 per cent and 6.0 per cent, they added.
US team studies labour practices at EPZs
A high-powered delegation from the Office of US Trade Representative or USTR that visited Chittagong yesterday sought to know trade union practices in factories housed in the Export Processing Zones. The management of the Chittagong EPZ (CEPZ) briefed the delegation on its electoral process as well.
Trade licence renewal deadline extended
Traders and businesses now have until November to renew their trade licences – a two-month extension – while businesses and city corporation authorities try to resolve a dispute over a steep rise in renewal fees. In addition to an up to 500% hike in fees for some categories of trade, the dispute centres on an attempt by Dhaka’s two city corporations to collect a four-year backlog of VAT charges that it has neglected to collect since 2011. Normally, the deadline for renewing trade licences ends on September 30.
Bangladesh Bank buys $80m more from seven banks
The central bank of Bangladesh purchased US$80 million more from seven commercial banks on Tuesday to help keep the inter-bank foreign exchange (forex) market stable ahead of the Eid-ul-Azha, officials said. “The central bank is purchasing the US currency from the bank directly at market rate to protect the interests of exporters and migrant workers by keeping the exchange rate of the local currency against the US dollar stable,” a senior official of the Bangladesh Bank (BB) told BBN in Dhaka.
Bangladesh’s stocks edge higher
Bangladesh’s stocks ended slightly higher on Sunday with choppy trading. Both the Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) began the day with upward trend and continued it throughout the session.
Key index of Dhaka Stock Exchange gains 11.23 points and selective index of Chittagong Stock Exchange rises 25.95 points to an end the opening day of the week with choppy trading as investors rebalanced their portfolios ahead of third quarter earnings declaration.
BBN/SSR/AD