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.
SAARC Fund keen to invest in govt securities, bank FDRs
SAARC Development Fund has shown its interest to invest in government securities and fixed deposits in commercial banks in Bangladesh, officials of the finance ministry told New Age on Thursday. They said that the SDF secretariat situated in Bhutan in mid-November last year made a proposal to invest in Bangladesh and sought approval in investing in short-term government securities and fixed deposits receipts in commercial banks which are not currently allowed.
A letter to the finance minister signed by SDF chief executive officer Karma, the Fund also sought tax exemption on income derived from the probable investment.
Land grabbers target KEPZ
Some influential people have grabbed a portion of Korean Export Processing Zone (KEPZ) in Chittagong, halting the development work of the zone. The incident has created tension in the country’s largest private EPZ in Anwara upazila. The trouble began on February 21 after more than 200 miscreants stormed into the premises of KEPZ, uprooted its boundary pillars and erected new ones to take control of around six acres of land, its officials said.
Most blood banks run without supervision, flout govt rules
Lax government monitoring of the operation of blood banks across the country is risking people’s lives as unethical practices are allegedly rife in many cases of medical emergency like blood transfusion. A source in the National Expert Council for Safe Blood Transfusion said more than 1,500 blood banks are running without valid licences across the country. Though a total of 300 banks do have their licences, most of them also are not going by the government-set standards.
Governor identifies three challenges in Bangladesh financial sector
Bangladesh Bank (BB) Governor Dr. Atiur Rahman has identified three key challenges in the country’s financial sector. The challenges are enhancing transparency and accountability in governance of banks and financial institutions, addressing financial market gaps and deficiencies, and deepening the financial sector’s integration with the global financial markets. The central bank chief made the observations while addressing the World Bank Group’s South Asia Strategy Session held in New Delhi on Thursday.
Loan provisioning rules on mutual funds relaxed to boost capital market
The central bank of Bangladesh on Thursday relaxed loan provisioning rules on mutual funds (MFs) to bring dynamism in the country’s capital market, officials said. Under the relaxation, the banks are allowed to keep provisioning considering both market value (MV) and net asset value (NAV) at the current market price.
Indian Reliance Group to invest $3bn in Bangladesh power sector
India’s Reliance Group has proposed to invest US$3.0 billion in Bangladesh for setting up four power plants with a total generation capacity of 3,000 megawatt (MW). “Initially, the Reliance Group will invest $1.5 billion and it would be gradually raised to three billion,” Prime Minister’s Energy Advisor Dr Tawfiq-e-Elahi told reporters at the Prime Minister’s Office (PMO) in Dhaka on Thursday.
7 killed, 40 hurt in Bangladesh cement factory collapse
At least seven people were killed and 40 injured when the roof an under-construction cement factory was caved in Mongla Port Industrial area in Bangladesh Thursday. A number of people were also feared trapped under rubble of the collapse building of Elephant Brand Cement. Seven people were confirmed dead. Rescuers also pulled about 40 survivors from the debris after the factory collapsed in the port town of Mongla, 335 km southwest of Bangladesh capital Dhaka, Bagerhat Police Super Nizamul Haque Mollah told the BBN.
Bangladesh’s stocks end lower for 2nd day
Bangladesh’s stocks closed lower for the second running sessions on Thursday as investors remained concerned over the prolonged political unrest in the country. The market opened with a free fall and the negative trend continued till the market closure amid modest see-saw. At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE) ended at 4,556.94 points, shedding 28.78 points or 0.62 percent.
BBN/SSR/AD-13Mar15-9:40 am (BST)