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.
BB Heist: Bangladesh to seek $50m compensation from RCBC
Encouraged by the recovery of a fraction of the $81 million lost in a daring cyber heist earlier this year, a delegation of high-ranking Bangladeshi officials will meet with President Duterte today to press for the return of more missing funds that were laundered in the Philippines. “Definitely, we would seek for RCBC to release some money,” Bangladesh’s ambassador to the Philippines John Gomes said in an interview with the Inquirer.
US postpones TICFA talks
The third round of Trade and Investment Cooperation Forum Agreement (TICFA) meetings, which was scheduled to begin from December 13, has been postponed, Commerce Minister Tofail Ahmed said Sunday. “The TICFA meetings will not be held now. It will be held at a convenient time in March or April next,” the commerce minister told reporters after view-exchange meeting with US Ambassador Marcia Bernicat at his secretariat office.
Bangladesh’s banks advised to appoint agents abroad
The central bank of Bangladesh has advised the banks which have exchange houses abroad to appoint agents in the respective countries to help revamp the flow of inward remittances. The Bangladesh Bank (BB), the country’s central bank, conveyed the advice in separate letters to all 56 scheduled banks on Sunday, according to officials. The banks are now allowed to appoint the agents in the job-destination countries through their exchange houses that will help collection of remittances, they added.
BB to launch new Tk 458-cr refinance fund for foreign entrepreneurs
Bangladesh Bank is going to introduce a fresh refinance fund worth Tk 458 crore for foreign entrepreneurs by taking finance from the Japan International Cooperation Agency to stimulate Bangladesh’s manufacturing sector and inflow of foreign direct investment. The government has already formed a steering committee to implement the JICA-funded scheme styled ‘Foreign Direct Investment Promotion Project’.
Bangladesh’s stocks break four-day gaining spell
Bangladesh’s stocks finished marginally lower on Sunday, breaking a four days winning spell as some investors booked quick-profit on sector specific stocks. Both bourses – the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) – closed slightly lower after four consecutive sessions gain. The market started with a higher note, key index of the premier bourse crossing the 4,800-mark within first 15 minutes of trading, but could not sustain that level amid profit booking sale pressure, ultimately closed in the red.
Digital payment making strides
Bangladesh has made a significant stride towards a digital economy as around 69 percent of government payments, or about $45 billion, are now being transacted through digital channels, according to a study by a United Nations organisation Better Than Cash Alliances (BTCA). Thirty-nine percent of these transactions are for government staff salary payments, showed the report that was launched yesterday at a ceremony at the Prime Minister’s Office.
Technology neutrality, quality handset crucial for 4G: telcos
Technology neutrality and quality handsets are crucial for affordable 4G or Long Term Evaluation services, said officials of mobile companies in the LTE Summit 2016 in Dhaka on Sunday. The summit was jointly organised by the Bangladesh Telecommunication Regulatory Commission and the Association of Mobile Telecom Operators of Bangladesh at Pan Pacific Sonargaon Dhaka hotel in the capital. Openness in government policies is also a key aspect for the mobile phone companies to provide 4G or LTE, a faster data connection technology from the existing 3G, the speakers said.
Aman prices set higher
The government has set the rice procurement price for aman season at Tk 33 a kg, up 6.45 percent over last year. A total of three lakh tonnes of rice will be procured from December 1 this year to March 15 next year, according to a decision made by the food ministry yesterday. Last year, the government procured two lakh tonnes of aman rice at Tk 31 per kg.