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.
Concerns about fall in remittance
Fiscal Coordination Council has expressed concerns about the capital flight and the decline of remittance inflow as investments are being hampered in the country due to such incidents. The concerns were expressed at a meeting of the Fiscal Coordination Council and Budget Management Committee on Sunday, said officials who attended the meeting. The meeting was held at the finance ministry auditorium with Finance Minister AMA Muhith in the chair.
Prime Bank writes off Bismillah Group loans
Prime Bank has written off Tk 300 crore embezzled by Bismillah Group in order to clean up its balance sheet. “We are not worried about Bismillah Group as the loan of the client was cleaned up from the balance sheet. In the meantime, the legal process to recover the money is also ongoing,” said Ahmed Kamal Khan Chowdhury, managing director of Prime Bank. He spoke at a media briefing at Hotel Purbani in Dhaka organised to mark 22nd founding anniversary of the bank.
CPD sees expansionary fiscal policy better for economy
The economy deserves an expansionary fiscal policy to move forward, local think tank Centre for Policy Dialogue (CPD) said Sunday. But it criticised the government machinery for its limitations in implementation of the budget and resource mobilisation.
Tripartite deal kept on hold
A tripartite process for $1 billion Bangladeshi investment in Bhutan’s hydropower projects and to transmit the electricity to Bangladesh through India has become uncertain as India has preferred to sign a tripartite memorandum of understanding in this regard in presence of prime ministers of the three countries. India expressed its intention during prime minister Sheikh Hasina’s state visit to New Delhi in the past week.
Bangladesh’s stocks witness losing streak
Bangladesh’s stocks witnessed yet another bearish session on Sunday, extending the losing spell for the eight consecutive sessions as risk-averse investors continued their selling spree. Following the previous week’s major correction, the key index of the country’s prime bourse fell 15.36 points within first 15 minutes of trading at 10:45am.
BB meets 20 banks on loan recovery today
Bangladesh Bank has summoned 20 banks to a meeting today to discuss their lower loan recovery performance against their defaulted and written-off loans. A BB official told New Age on Sunday that the central bank had earlier issued a number of letters to the banks to speed up their loan recovery programme, but they had not taken proper measures to reduce their defaulted and written-off loans. Under the circumstances, the central bank will arrange a meeting today with managing directors of 20 banks at the central bank headquarters in the capital.
Govt ups by 15pc Boro procurement target this yr
The government plans to buy 1.5 million tonnes of grains during the Boro crop season this year, a 15 per cent rise from last year, reports bdnews24.com. Food Minister Qamrul Islam told reporters after a meeting on Sunday that 800,000 tonnes of rice and 700,000 tonnes of paddy would be purchased at Tk 34 per kg and Tk 24 respectively.
Bangladesh Bank transfers nine GMs
Bangladesh Bank (BB) has transferred its nine general managers (GMs) to bring dynamism in the central bank’s overall activities, officials said. Talking to BBN, a BB senior official said: “The GMs have been transferred as part of our routine works.”