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.
Govt seeks ways to lure MNCs to stock market
Government's finance authority asked Sunday the regulator and relevant agencies to recommend within 10 working days the ways to lure the multinational companies (MNCs) that are unwilling to go public. The ministry of finance (MoF) issued the directive at a meeting as most of multinationals operating in Bangladesh shied away from offloading their shares on the stock market -- a measure meant for giving a much-needed shot in the arm of the bourses.
Crab export on the rise
Crab has emerged as a potential export earner thanks to its high demand in East and Southeast Asian countries and increased farming in the coastal belts of Bangladesh, sector operators said. Bangladesh shipped crabs worth $23.82 million in 2015-16, which was $7.2 million in 2010-11, according to Export Promotion Bureau.
Govt to register hilsa as GI product
Department of Fisheries on Sunday applied for registration of the national fish Hilsha as a geographical indication product to globally identify the fish as of Bangladesh origin. Director General of the department of fisheries Syed Arif Azad submitted the application to the industries ministry senior secretary M Mosharraf Hossain Bhuiyan on the day. Hilsha will be the second GI product, after Jamdani, one of the finest muslin textiles, of the country when it gets the registration.
Rooppur plant may get more funds
The government may release another $50m (Tk400 crore) fund for building the Rooppur Nuclear Power Plant (main phase), officials said yesterday. Once the fund is released, total disbursement fund will stand at Tk800 crore over the past one month and so for the first-ever nuclear plant in Bangladesh. The finance ministry’s move for allocation more fund came following the proposal made by the Science and Technology Ministry recently for the beginning of main work of the project.
Bangladesh’s stocks see mild correction
Bangladesh’s stocks witnessed a mild correction on Sunday as risk-averse investors booked quick-profit on sector specific stocks. DSEX, the prime index of the Dhaka Stock Exchange (DSE), finished at 4,667.19 points, shedding 9.93 points or 0.21 percent over the previous day while the Selective Categories Index – CSCX – of the port city bourse lost 2.21 points to settle at 8,750.78 points.
Alliance wants govt not to interfere in factory inspection
Alliance for Bangladesh Workers Safety wants “the government be involved, but not interfere” in the post-Accord and Alliance inspection strategy for garment factories. James F Moriarty, Alliance country director and former US ambassador to Bangladesh, said this at a meeting with the Bangladesh Garment Manufactures and Exporters Association (BGMEA). BGMEA demands involving a national body under the auspices of Department of Inspection for Factories and Establishment (DIFE) to look after inspection work after Accord and Alliance leave.
BB lowers interest on long-term pvt sector loans
Bangladesh Bank on Sunday lowered the interest rate for the long-term financing to the private sector entrepreneurs under the World Bank-funded financial sector support project. The BB issued a circular to the managing directors and chief executive officers of all banks saying that from now on the entrepreneurs would be allowed to take loans from banks at a maximum interest rate of LIBOR plus 3.50 per cent. The previous rate was LIBOR plus 4 per cent.
BB to seek remedies for receding remittance
The central bank is set to consult top bankers on remedies for revamping the receding remittance inflow to the country. A meeting of the Bangladesh Bank (BB) top brass with 30 managing directors (MDs) and chief executive officers (CEOs) of commercial banks will be held today (Monday) as part of the move, officials said.
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