Author: Siddique Islam

World trade registers modest growth in Q1 of 2015

Geneva, Switzerland (BBN) – The volume of world merchandise trade increased modestly in the first quarter (Q1) of the current calendar year, with growth in both exports and imports registering slower growth than over the previous six months. World trade as measured by the average of exports and imports grew 0.7 per cent in the first three months of 2015, based on seasonally adjusted data, according to preliminary estimates by the WTO and the United Nations Conference on Trade and Development (UNCTAD), released on June 24. The world exports increased by 0.4 per cent in the Q1 of this...

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BB examining Beximco, Thermax loan restructuring proposals

Dhaka, Bangladesh (BBN) – The Janata Bank limited has submitted the proposals of two business groups –Beximco and Thermax— to the central bank of Bangladesh for restructuring their large loans worth BDT 25.16 billion. “The central bank is now scrutinising the proposals in line with the large-loan-restructuring policy,” Mohammad Naushad Ali Chowdhury, executive director of the Bangladesh Bank (BB) and head of the large loan scrutiny committee, told BBN in Dhaka. The Beximco Group, one of the top business conglomerates in Bangladesh, has applied for restructuring loans worth BDT 18.49 billion against its five units while the lesser one the Thermax Group sought restructuring of its BDT 6.67 billion loans taken against four units, according to the proposals. “We’ll submit reports after completing our scrutiny to the Banking Regulation and Policy Department (BRPD) of the central bank for taking next course of action,” the committee chief noted. The central bank earlier formed a six-member inter-departmental committee to go through the terms and conditions, set by the central bank earlier for restructuring loans properly. The Janata Bank Limited, a leading state-owned commercial bank (SoCB), is now working on a few more loan restructuring proposals for submission to the BB soon, Abdus Salam, chief executive officer (CEO) and managing director (MD) of the SoCB said. The Beximco Group, which has a number of its units listed on the bourses, operates in...

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Bangladesh-Thai Foreign Office Consultations Thursday

Dhaka, Bangladesh (BBN)– A nine-member Thai delegation, led by Thai Permanent Secretary for Foreign Affairs (Foreign Secretary) Norachit Sinhaseni, arrives in the capital Dhaka on Wednesday to participate in the first-ever Foreign Office Consultations (FOC) between Bangladesh and Thailand to be held on Thursday. The Thai delegation includes Director General and other senior officials of Department of South Asian, Middle East and African affairs and Director of Thailand International Cooperation Agency (TICA). The Thai Permanent Secretary will be received at Hajrat Shahjalal Airport by senior officials of Bangladesh Foreign Ministry, an official statement said in Dhaka on Tuesday. Bangladesh...

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IPO lottery of Aman Feed Wednesday

Dhaka, Bangladesh (BBN)– The initial public offering (IPO) lottery of Aman Feed Ltd (AFL) will be held today (Wednesday) to allocate shares among the successful applicants, officials said. The lottery programmee will be held at 11am at Seminar Hall of the Institution of Engineers, Bangladesh (IEB), Ramna, according to the Chittagong Stock Exchange (CSE). Aman Feed, a concern of Aman Group, floated 20 million ordinary shares worth Tk 10 each at an offer price of Tk 36, including Tk 26 as premium, according to the company’s IPO prospectus. The fisheries and livestock feed producer and supplier’s IPO subscription was...

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