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.
Government to import 350,000 tons of rice from Myanmar, Thailand and India
The Ministry of Food’s controversial proposal to import 100,000 tons of rice from Myanmar amid heightened tensions over the Rohingya crisis, will be placed at cabinet committee meeting on public purchase on Thursday for approval at the cost of Tk366.86 crore, officials said. An MOU was signed with Myanmar on September 17 and the cost per ton rice will be $442, according to the Ministry of Food’s proposal.
SoCBs’ outstanding loans rise further
Both outstanding and classified loans of state-owned enterprises (SoEs) to five state-owned commercial banks (SoCBs) are on the rise again due to delay in making repayments, officials said. Many of these SoEs fail to pay back loans to the SoCBs as they continue incurring losses for years, they added.
Garment exporters hit by shrinking profits
The garment exporters' profitability has hit a rock-bottom thanks to the continued downward price pressure by the international retailers amid rising production costs. “In fact we are just keeping our businesses afloat,” said a garment manufacturer who exports apparel items worth nearly $500 million a year.
Bangladesh Bank sells $25m to two SoCBs
The central bank of Bangladesh has sold US$25 million more to two state-owned commercial banks (SoCBs) directly to meet the growing demand for the greenback in the market, officials said. “The central bank has sold the US currency to the SoCBs at market rate on the day to settle their import payment obligations particularly for food grains,” a senior official of the Bangladesh Bank (BB), the country’s central bank, told BBN in Dhaka.
Industrial loan growth falls to 5-year low
Growth of industrial loan disbursement fell to a five-year low in fiscal 2016-17 despite a sharp decline in interest on lending. Industrial loan disbursement registered growth of 13.51 percent in the last fiscal year compared to 20.77 percent a year ago, according to data released by the central bank yesterday.
Agencies oppose NBR proposal for own security force
Different government agencies including law enforcement forces on Tuesday expressed reservation about a proposal of the National Board of Revenue to form a separate security force for the tax authorities. Representatives of the agencies including the police, Bangladesh Border Guard, Coast Guard, Fire Service and Civil Defence, Department of Narcotics Control and civil administration gave their opinion on the proposal placed at a meeting held at NBR headquarters.
Dhaka should join IMT tri-nation highway
A proposal was mooted Tuesday that Bangladesh should join India-Myanmar-Thailand (IMT) trilateral highway that connects India with ASEAN countries on direct road routes. A former Indian envoy to Bangladesh came up with the suggestion at a meet in Dhaka -- incidentally in the wake of major geopolitical and strategic developments in this belt and nearby.
Q1 exports to Japan, China fall and US, Germany post meagre growth
Country’s export earnings from two promising markets –Japan and China– dropped in the first quarter of the current financial year 2017-18 compared with the same period of the last fiscal year. Exports earnings from the major markets including United States and Germany posted minimal growth during the Q1.
BBN/SSR/AD