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.
$24.45b Deals with China: The amount may go up or down
China has committed soft loans for more than two dozen projects, but the total amount that would be provided was not specified as per Beijing's modus operandi for such matters. Bangladesh had pressed for stating a specific amount in the Memorandum of Understanding but China did not agree to it, said finance ministry officials. The deal was one of the 27 final agreements and MoUs signed during official talks between Chinese President Xi Jinping and Prime Minister Sheikh Hasina on Friday.
Bangladesh, China now strategic partners
Dhaka and Beijing have elevated their “closer comprehensive partnership of cooperation” to a new level of “strategic partnership for cooperation” through opening up a new era in relations. Bangladesh and China have also agreed to jointly advance the China’s ‘belt and road initiative’ and establish and carry out “institutional cooperation” in areas of maritime cooperation and counterterrorism. Both countries also agreed on working together on regional and international issues.
Bigger budget worth Tk 5.0t in govt dream
Finance Minister AMA Muhith said Saturday the government's tenure would culminate into presenting a much bigger budget of Tk 5.0 trillion as it has attained higher monetary capacity during the last seven years. "We can now think of big investment...our budget has been increased from Tk 990 billion to Tk 3.4 trillion in seven years. End of this term, budget will be five-lakh-crore taka (Tk 5.0 trillion)," he told a function in the city.
BB to set up cyber security unit
Bangladesh Bank has taken a decision to form a dedicated cyber security unit to tackle cyber related fraudulent acts in its information technology system. The executive management team of the central bank took the decision in its meeting in the last week of September, a BB official told New Age. He said that the central bank had taken the decision amid huge criticism from different corners after the country’s foreign exchange reserve heist, he said.
Bangladesh’s stocks break four-week winning streak
Bangladesh’s stocks closed marginally lower last week that ended on Thursday, breaking the four weeks winning streak. Analysts said the market faced marginal correction as some investors booked in first two sessions of the week on stocks that saw significant gain in the past few days. “Earning declarations of some of the major companies listed in the bourse snatched overall investors’ interest during the week,” said IDLC Investments, a merchant bank, in analysis.
Interest spread calculation to be part of CAMELS
Interest-rate spread of banks will be made a part of the supervisory mechanism called CAMELS rating, officials said. The revised calculation method for CAMELS rating will come into effect in December next and any breach of limit set in relation to interest spread will be construed as noncompliance with the central bank rules.
Rise above politics and focus on SDGs: analysts
Politicians should rise above politics to make Saarc functional and strive to achieve the 2030 agenda, analysts said yesterday. The recommendation comes at a time when the regional bloc's existence has come under serious question following rising tensions among a number of its member states.
Muhith hopes $75bn loan pledge from World Bank
Jim Yong Kim, the WB group president is arriving in Dhaka today to participate in high-level talks, highlight Bangladesh’s progress toward ending extreme poverty and commemorate End Poverty Day, reports BSS. “This will be a great occasion for us and we hope this visit will take our relations with the World Bank to a new height”, Finance Minister Abul Maal Abdul Muhith told BSS while commenting on the visit of the WB high official.
BBN/SSR/AD