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.
Cyclone ‘Roaun’ kills 23 in Bangladesh
At least 23 people were killed and more than 100 others injured as cyclonic storm ‘Roanu’ battered Bangladesh’s coastal areas before it weakened into a land depression on Saturday Of the dead, 12 were reported from Chittagong, three each were reported from Noakhali and Bhola and Cox’s Bazar and one each from Patuakhali and Laxmipur districts.
Food grain yield to fall short of target
Food grain production is likely to fall short of the target of 3.64 crore tonnes this fiscal year, for a drop in acreage during the aus and boro crop seasons and a spread of wheat diseases in the southwest districts. The projection was made in a recently published report of the Food Planning and Monitoring Unit (FPMU) under the food ministry.
Stamp duty evasion rampant on taxmen’s lax monitoring
The government loses substantial amount of revenue due to tampering with state stamps every year, competent sources said. Such leakage of revenue has been taking place as there is hardly anyone to oversee the collection of this duty.
Japan—next $1b export market
Japan is on the way to becoming the billion-dollar export market for Bangladesh in the current financial year of 2015-16. Bangladesh’s export earnings from Japan in the July-April period of FY16 grew by 18.30 per cent to $907.88 million from $767.43 million in the same period of FY15, according to the statistics of Export Promotion Bureau.
Weekly Review: Bangladesh’s stocks return to green riding on large-cap stocks
Bangladesh’s stocks returned to the green last week that ended on Thursday as most of the investors were active in the market, taking the advantage of lucrative valuation level of large-cap stocks. The week witnessed five trading sessions as usual. Of them, first session saw marginal correction, while last four sessions ended higher.
Government urged to ensure level playing field for aviation industry
Regent Airways has urged the government to ensure fair play in the aviation industry as the national flag carrier Bangladesh Biman Airlines allegedly breached aviation agreements by recruiting experienced pilots instead of trainees. The private carrier has recently brought the allegation against the Biman in a letter sent to the Aviation Minister, Rashed Khan Menon. Regent Airways Managing Director Mashruf Habib, in the letter, said: “We recruit fresh cadet pilots, and later train them to fly aircraft.”
Three killed in Bangladesh factory fire
Three people, including a Pakistani citizen, were burnt to death and 10 others injured as a fire broke out at a textile factory in Bangladesh on Saturday morning. The fire originated from chemical blast at the dyeing factory –Mom Tex-1 – of Pakiza Group in Narsingdi, just outside the capital around 7.0 am (local time) and it soon roared through the entire factory, according to a fire service official.
Banks cut back only 17pc of written-off loans in 13 years
Banks cut back only about 17 percent of their written-off loans in the last 13 years despite several initiatives to recover the sums. Between 2003 and 2015, the banks wrote off a total of Tk 40,361 crore, according to central bank statistics. Of the amount, Tk 33,581 crore remains outstanding. Bank officials said they have made some cash recovery of the loans and gave interest waiver facility to some others. This resulted in the reduction of written-off loans.
BBN/SSR/AD