Dhaka, Bangladesh (BBN) - The BBN has prepared the morning business round up compiling reports, published by different newspapers and news portals in Bangladesh.
Govt stays on target for 7.2pc economic growth: The government has decided to keep the GDP growth target unchanged at 7.2 percent this fiscal year despite risks and the central bank's conservative outlook on the economy. “The present upward trend of industrial production continues and aman and boro rice yield is also good; so achieving the growth target would not be difficult,” Finance Minister AMA Muhith said in parliament yesterday. Muhith presented a report on budget implementation in July-September. Non-development spending stood at 16.5 percent of the total allocation, while the spending on the annual development programme (ADP) was 9.2 percent, according to the minister.
PSC signed with Santos-Kris JV for block 11: The government on Wednesday signed contract with a joint venture between Santos Sangu Field Ltd and Krisenergy Asia Ltd for oil and gas exploration in hydrocarbon block 11 in the shallow of the Bay of Bengal. Finance minister AMA Muhith chaired the signing ceremony while prime minister’s energy adviser Tawfiq-E-Elahi Chowdhury, state minister for power and energy Nasrul Hamid Bipu, energy division secretary Md Mozammel Haque Khan and Petrobangla chairman Hossain Monsur attended the programme. Under the contract, Bangladesh Petroleum Exploration and Production Company or Bapex will have a 10 per cent share in the block.
BB asks banks to pay import bills in time: The central bank yesterday asked all commercial banks to pay import bills in time. The banks will be fined if they fail to do so, Bangladesh Bank said in a notice. There have been complaints that some banks are making unwanted delay in paying bills against letters of credit, which is tarnishing the image of the country's banking system, the BB said.
Alliance starts garment factory inspection in Bangladesh: The Alliance for Bangladesh Worker Safety, a platform of 27 North American retailers and brands, started garment factory inspections from today (March 12). “We’re planning to complete inspection more than 400 factories by July this year,” Mesbah Rabin, managing director at Alliance for Bangladesh Worker Safety, told BBN in Dhaka. He also said seven teams are inspecting the factories across the country. Although the Alliance is supposed to inspect more than 600 factories, Wal-Mart, a major retailer in the Alliance, has already completed inspections of 200 factories.
BB to monitor forex transaction through credit, debit cards: Bangladesh Bank is going to start online monitoring of the foreign exchange transaction with international credit and debit cards issued by the local banks in a bid to stop anomalies in the process of outward remittance, said officials of the central bank.
A BB official told New Age on Tuesday that the central bank was now collecting report about the foreign currency cards or international credit and debit cards issued by the banks on a manual basis, but it will collect data in this connection through online. The BB has already taken initiative in this regard and it will start to collect the report through online within the next month, he said.
Bangladesh’s stocks return to the red: Stocks returned to the red on Wednesday amid volatile trading throughout the session asinvestors remained cautious.
The prime index of the Dhaka Stock Exchange (DSEX) ended at 4,660.52 points, shedding 12.11 points or 0.25 per cent. However, the other two indices ended into the green. The DS30, comprising blue chips gained 0.52 points or 0.03 per cent to close at 1,681.76 points. The DSE Shariah Index (DSES) went up by 3.45 points or 0.34 per cent to close at 1,015.15 points. Turnover value on DSE stood at BDT 4.50 billion, registering 34 per cent increase over the previous session’s value. The gainers took a lead over the losers as out of 289 issues traded, 155 advanced, 110 declined and 24 issues closed unchanged on the DSE floor.
TCB to intervene thru 3,000 dealers: Essential food items at prices cheaper than those in the market would be sold throughout the country before and during the holy month of Ramadan through 3,000 dealers of TCB, commerce minister Tofail Ahmed said on Wednesday. The items are—lentil, edible oil, peas, dates and onions. ‘We are committed to protect the consumers belonging to lower and middle classes against the profiteering attitudes of some traders,’ Tofail told reporters after a meeting of the board of directors of Trading Corporation of Bangladesh (TCB).
BBN/SSR/AD-13Mar14-8:38 am (BST)