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.
Joint meeting next month to speed up China-funded projects
The first meeting of the Bangladesh-China joint working group is set to be held in Dhaka next month to come up with ways to expedite the implementation of 27 projects that China had agreed to fund in October 2016. The move to form the committee was taken during Prime Minister Sheikh Hasina’s visit to China in July this year with a view to identifying the reasons for the delays in China-funded projects and eliminating them.
China’s BRI ‘debt trap’ raises concerns among Bangladesh, India experts
Experts at an international conference in Dhaka have spoken about their concerns over the “debt trap” of China’s flagship belt and road initiative (BRI) in which Bangladesh has joined. Fahmida Khatun, executive director of the Center for Policy Dialogue (CPD) that organised the conference on Sunday, said “debt should be managed well and debt sustainability issue should be closely monitored in order to avoid any possible debt traps”.
ADB keen to finance economic corridors
The Asian Development Bank (ADB) has suggested that Bangladesh should adopt a legislation towards establishing dedicated authorities for development and management of its economic corridors. Under a stepwise approach, the ADB says, a taskforce of Bangladesh Investment Development Authority (BIDA) can be created to undertake activities pertaining to development of economic corridors during the initial phase of planning and development of priority trunk infrastructures.
‘One person company’ on the cards in Bangladesh
A move is on to amend the Companies Act, allowing formation of a company by an individual, officials said. A draft of the proposed amendment is now awaiting vetting by the Ministry of Law, they added. The amendment aims at making the process of forming a company easier, they explained.
Bangladesh’s stocks see gain as GP keeps gaining
Bangladesh’s stocks posted a modest gain on Sunday as some investors continued to show their appetite on selective large-cap shares. DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 20.78 points or 0.41 per cent over the previous session to close at 5,033. Two other indices also edged higher.
Experts see merger of sick banks, firms as a savior
Merger and acquisition could be an effective solution to the problems facing the country’s moribund banks and financial institutions (FIs), analysts observed on Sunday. To this regard, they said, the regulatory body should be well-equipped to properly monitor this process through modernising relevant acts and policies.
Local govts can finance only 14pc of their spend
Local government institutions generate only 14 percent of their expenditures and rely on the central government for the rest, Ahsan H Mansur, executive director of the Policy Research Institute, said yesterday. “Neither do they have the ability to generate resources nor does the central government assist them, which tells us a lot about how we are treating our local government institutions,” he said.
Remittance receivers to get incentive in arrears
The beneficiaries of inward remittances would get cash incentive in arrears as the government is yet to start providing the benefit for which the beneficiaries became entitled since July 1 this year. In the fiscal budget for the year 2019-2020, the government announced to issue 2 per cent cash incentive to the beneficiaries of inward remittances.