Dhaka, Bangladesh (BBN) - The BBN has prepared the morning business round up compiling reports, published by different newspapers and news portals in Bangladesh.
Garment buyers unnerved by security fears
International retailers postponed their scheduled meeting in Dhaka today with garment makers citing security fears, after two foreign nationals were gunned down in Bangladesh in a space of one week. The buyers' forum meeting, a regular monthly discussion between the retailers and garment makers has been deferred, Faruque Hassan, vice-president of Bangladesh Garment Manufacturers and Exporters Association, said yesterday.
Anti-money laundering ordinance may get cabinet approval today
As Financial Action Task Force team is due to arrive in Dhaka on 11 October and the Parliament is not in session, the government has decided to approve anti-money laundering (amendment) ordinance at the cabinet committee’s meeting today, said officials. In August, an amendment to the Money Laundering Prevention Act was initially approved at the cabinet committee meeting, but could not be placed in Parliament.
IDRA moves to plug route thru reinsurance with int'l agencies
The Insurance Development and Regulatory Authority (IDRA) has initiated moves to plug possible routes of money laundering and terror financing through insurance firms, particularly through their international reinsurance business. The country's insurance regulator believes that there are many ways to get involved in such financing which has now become both a domestic and global agenda to fight.
NBR to form separate cell to check illicit outflow of funds
The National Board of Revenue (NBR) has taken an initiative to form a separate cell to gather information on siphoned funds and scrutinise the incomes of dual citizens, officials said. The unit is also expected to coordinate internal intelligence and investigation activity, and consolidate internal and international information exchange to increase the institutional capacity of NBR.
Bangladesh’s stocks plunge amid low turnover
Bangladesh’s stocks plunged on Sunday, the opening day of the week, with turnover dropping further as investors were cautious ahead of quarterly-earnings declaration. The market opened with a negative note, which sustained throughout the session. The key index of Dhaka stock exchange sheds 42.35 points and Chittagong stock exchange loses 64.14 points with turnover dropping further as investors were cautious ahead of quarterly-earnings declaration.
Further fall in remittances feared as Q1 flow dismal
The flow of remittances wired by overseas Bangladeshis slightly fell in the first-quarter (Q1) of the current fiscal year (FY) 2015-16 against the same period of the last fiscal year, the central bank said. The inflow of remittance came down by 2.0 per cent to US$3.93 billion during the July-September period of the FY 16 from $4.01 billion in the corresponding period of the previous fiscal, according to the central bank latest statistics released on Sunday.
Import rises by 8pc in Jul-Aug
The country’s import payment for the capital machinery increased in the first two months of the current financial year 2015-16 compared with the corresponding period last year despite a gloomy business and investment scenario. According to the Bangladesh Bank data released on Sunday, import payment for capital machinery grew by 30.53 per cent in July-August of the current fiscal year compared with the same period of the last year when the payment grew by 25.34 per cent.
BB asks BKB, RAKUB to approach government for recapitalization
Bangladesh Bank Governor Atiur Rahman advised Bangladesh Krishi Bank and Rajshahi Krishi Unnayan Bank to replenish their capital shortfalls by taking help from the government exchequer. The instruction came at a meeting Bangladesh Bank held yesterday with the chairmen and managing directors of the two ailing banks. The Bangladesh Bank governor chaired the meeting.
BBN/SSR/AD