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.
New sources of funds needed for power projects: study
Bangladesh needs to explore various sources of financing beyond the existing ones as the country would require $35 billion worth of investment in the power sector by 2041, according to a new study report. The current global financial market provides an opportunity to consider many options for financing, which can be explored in the context of Bangladesh, according to the report “Transforming the Power Sector in Bangladesh”.
British, Indian firms hold 98.5pc stake in $100m insurance
One British and another Indian insurance company hold 98.5 per cent stake in the US$100 million insurance coverage for the US-Bangla Airlines plane that crashed in Nepal, sources said as stories of the tragedy kept unfolding. In Bangladesh, Sena Kalyan Insurance Company Ltd and Sadharan Bima Corporation are acting as primary insurers for the 78-seater Bombardier Dash 8 Q400 airplane that crashed at Nepal’s Tribhuvan airport last Monday, leaving 49 people dead.
Inequality, poor governance major challenges
Growing inequality, unemployment and lack of good governance are major challenges for the country in addition to costly borrowing and less trade facilities during its graduation period to become a developing nation in the next six years, experts said. They made the observations in reactions to March 16 UN announcement that Bangladesh met graduation criteria to be a developing nation after staying as a least developed nation since 1975.
Banks provisioning shortfall jumps by 24% in 2017
Overall shortfall in provision against both classified and unclassified loans in the country’s banking system jumped by nearly 24 per cent in the last calendar year, officials said. Some banks ran short on the provisions following higher classified loans along with conditional rescheduling of credits, they added.
Innovative farm machineries ameliorate agriculture in Bangladesh
What was true a few decades ago when most farmers still used ancient cultivation methods, engaging cattle for farming, has changed due to revolutionary mechanization in the sector, along with many technological developments throughout agricultural methods in the country.
Plastic industry shows promise as demand rises
The plastic industry has been growing at about 20 percent a year on the back of spiralling demand from domestic and export markets. In fiscal 2017-18, the domestic market size of plastic products hit Tk 25,000 crore, according to the Bangladesh Plastic Goods Manufacturers and Export Association (BPGMEA). Plastic exports rose 31 percent year-on-year to $117 million last fiscal year, according to data from the Export Promotion Bureau.
BD ready to face post-LDC challenges, says Tofail
Bangladesh would enjoy the preferential trade facility until 2027, although it qualified in the first UN review for graduating as a developing nation, Commerce Minister Tofail Ahmed said on Sunday. Bangladesh is capable of facing all trade-related challenges after graduation from the LDC (least developed country) status, he told reporters at his ministry office.
M-bankers seek relaxed risk-based adequacy rules
The Bangladesh Merchant Bankers Association has requested the Bangladesh Securities and Exchange Commission to ease some of the provisions of the drafted rules of risk-based adequacy rules by cutting the total capital requirements for merchant banks. The BSEC on February 15 drafted the risk-based capital adequacy rules, 2018 to reduce the investors’ risk.