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.
ACC alive to graft in private banks
Anti-Corruption Commission (ACC) Chairman Iqbal Mahmud said Sunday the anti-graft body is keeping an eye on private banks and would act if evidence of corrupt practices is found. "Private banks are not private, they are people's banks, their money belongs to people. We would take measures against private banks if evidence of graft and financial irregularities is found," he said.
BTRC plans to borrow €157m from HSBC for satellite
The telecom regulator yesterday sent a proposal to the government to borrow 157 million euros from HSBC for the country's first space satellite. The interest rate for the loan will be Libor plus 1.51 percent. The London interbank offered rate is considered to be one of the most important interest rates in finance.
Delhi wants duty-free benefit for billet export
New Delhi has requested Dhaka to give duty-free benefit in export of non-alloy steel billets to Bangladesh under the South Asian Free Trade Area, which, if given, will hurt the local industry, said National Board of Revenue officials. They said the NBR in the budget for the current fiscal year of 2016-2017 scrapped the duty-free benefit for the product in case of import from the SAFTA countries through imposing 20 per cent regulatory duty and 15 per cent value-added tax in a bid to protect the domestic industry.
BSC seeks authority to procure ship
Bangladesh Shipping Corporation (BSC) has sought authority over procuring ship from foreign countries. For allowing it to selling and purchasing ship, the state-owned entity has proposed to bring changes in Bangladesh Shipping Corporation Act, officials said yesterday. The proposal will be placed today at the cabinet meeting for approval.
Bangladesh’s stocks end flat
Bangladesh’s stocks closed almost flat in red territory on Sunday, as most investors remained cautious ahead of monetary policy statement (MPS) scheduled to be unveiled on Tuesday. Both bourses – the premier bourse Dhaka Stock Exchange (DSE) and the port city bourse Chittagong Stock Exchange (CSE) opened with a positive note, but could not sustained the momentum, eventually ended almost flat in red.
Pay heed to youth labour force to fight militancy: economist
Bangladesh should pay heed to the needs of the youth labour force and meet their expectations in a rapidly changing world to fight militancy, a noted economist said yesterday. “We need to worry about the vulnerable non-poor, especially the problem of the youth labour force belonging to a group, in terms of meeting their new expectations and extremism,” said Binayek Sen, research director of the Bangladesh Institute of Development Studies (BIDS).
Transit to destroy local industries
Iron and steel rod manufacturers fear that the transit facility offered to India will badly affect Bangladeshi industries, particularly theirs, in different ways. They think the facility will 'destroy' the present market of their products in the seven northeastern states of India -- Arunachal, Assam, Meghalaya, Manipur, Mizoram, Nagaland and Tripura -- and mar the potential of further export.
Farm loans surpass target reaching Tk 17,056cr in FY16
Farm loan disbursement by banks posted 10.43 per cent growth in the recently concluded fiscal year of 2015-16 compared with that in the same period of the FY 2014-15. Banks disbursed Tk 17,056.43 crore in farm loans in FY16 against Tk 15,978.46 crore distributed in FY15, according to the latest Bangladesh Bank data.
BBN/SSR/AD