Dhaka, Bangladesh (BBN) – The BBN (Bangladesh Business News) has prepared the morning news highlights compiling reports, published by different newspapers and news portals in Bangladesh.

Bangladesh beat India by 79 runs
Bangladesh thrashed cricket powerhouse India by 79 runs in the first ODI of three-match series at Mirpur in Dhaka Thursday night. With the triumph, Bangladesh moved ahead of West Indies in seventh spot in ICC ODI rankings. Earlier, the hosts have set 308-run target, their best total, for India to chase But, India could not reached the target and lost all the wickets scoring 228 runs in 46 overs at Sher-e-Bangla National Stadium in Mirpur of Dhaka, the capital of Bangladesh.

Bangladeshis deposits rise by 36% in Swiss banks in 2014
Bangladeshi citizens’ deposits with different Swiss banks increased by more than 36 per cent in 2014, according to the latest data released by the Swiss National Bank (SNB), the central bank of Switzerland. The funds held directly by Bangladeshi individuals and entities with banks in Switzerland stood at around 506 million Swiss francs (US$ 545 million) in 2014 from 372 million Swiss francs a year ago. Swiss banks denote those banks located and operated in Switzerland and known for holding money, mostly transferred illicitly from other countries by evading tax.

Banks take a hit as private sector remains passive
Banks have been hit hard by the government’s decision to suspend auctioning treasury bonds, especially as the sector is already bogged by a continued crunch in private sector credit demand and a declining interest rate in the call money market, bankers said. The private sector has failed to respond despite the banks’ repeated lowering of lending interest rates over the past couple of years, they said. Scheduled banks typically invest over 90 percent of their idle funds in the government bonds that generate between 8.4 percent and 11.97 percent returns, according to Bangladesh Bank.

Bangladesh’s slip into red after 3-day
Bangladesh’s stocks returned to the red on Thursday, breaking three sessions’ upturn as investors booked profit ahead of Ramadan. DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 7.56 points or 0.16 percent to finish at 4,519.85 points, after witnessing volatility throughout the session. The DS30 index, comprising blue chips, lost 3.45 points or 0.19 percent to close at 1,742.62 points. The DSE Shariah Index (DSES), shed 2.51 points or 0.22 percent to end at 1,101.66 points.

Bangladesh Bank purchases $50m more from 3 banks
The central bank of Bangladesh purchased US$ 50 million more from three commercial banks on Thursday aiming to help keep the inter-bank foreign exchange (forex) market stable. “The central bank is purchasing the US dollars from the banks at market rate to protect the interest of the exporters and migrant workers by keeping the exchange rate of the local currency against the greenback stable,” a senior official at the Bangladesh Bank (BB) told BBN in Dhaka.

Bangladesh receives $604m remittance ahead of Ramadan
Bangladesh received more than $604 million as remittance during the first 12 days in the current month ahead of the holy Ramadan and Eid-ul Fitr festival from its nationals working abroad, officials said. Bangladesh received $ 604.16 million as remittances between June 1 and June 12 from Bangladeshi nationals who are working abroad, according to the central bank’s latest statistics, released on Thursday.

IDRA suspends operating licence of Standard Ins
In a stringent measure, the insurance regulator suspended Thursday operating licence of Standard Insurance as it failed to comply with mandatory re-insurance of its three policies worth Tk 463 million. The interim suspension will be effective from June 21 and last for a period of three months ending September 21. The regulator asked it to refrain from issuing any cover notes, insurance certificates or related new business during the suspension period.

Vegetable prices soar as Ramadan comes
The prices of a number of vegetables and commodities went up sharply in the city markets on the eve of Ramadan when demand usually rises.  The steepest hike was in the prices of aubergine, vastly used for preparing Iftar items, followed by green chili and cucumber. Prices of fish and meat also went up. Aubergine prices almost doubled to Tk 80-Tk 100 a kilogramme in city markets yesterday, compared to the prices the day before.

BBN/SSR/AD