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.
Seven errant banks seek exoneration from penalty
Seven commercial banks have appealed to the central bank’s board of directors to waive the financial penalty imposed on them for violating the rules relating to share-market investment. Their petitions may be included in the agenda for the board meeting scheduled to be held next month, according to officials. They said there is no scope of putting the issue on the agenda for the board meeting scheduled for today (Thursday).
Rohingya Influx: Ministries ask for Tk 65cr to tackle situation
The finance ministry has moved to assess how much budgetary allocation is needed for handling the increasing number of Rohingyas fleeing into the country, as different ministries have already sought Tk 65 crore. Finance Minister AMA Muhith on Tuesday directed the finance secretary to submit a report on the need assessment in seven days. The move was made upon his return on October 22 from attending the World Bank-IMF annual meeting in Washington, said a finance ministry official.
Hacked servers used in Bangladesh reserve heist: Kaspersky
Kaspersky Lab has uncovered compromised servers around the world being used by the notorious cybercrime group Lazarus for its hacking activities including last year’s US$81-million reserve heist on the central bank of Bangladesh. These hacked servers were part of the groups’ global command and control infrastructure and were found in Indonesia, India, Bangladesh, Malaysia, Vietnam, South Korea, Taiwan and Thailand, among others, the Manila-based Inquirer.net reported quoting a press statement of the Russian cybersecurity firm.
Akij gets govt’s nod to invest $20m in Malaysia
In a rare move the government on Wednesday approved a proposal that would enable Akij Group to invest $20 million in Malaysia. The cabinet committee on economic affairs on the day at a meeting, presided over by finance minister AMA Muhith, approved the proposal put forward by the Financial Institutions Division to open the overseas investment opportunity against the backdrop of poor private investment in the country.
Bangladesh Bank sells $10m more to SoCB
The central bank of Bangladesh has sold US$10 million more to a state-owned commercial bank (SoCB) directly to meet the growing demand for the greenback in the market. “We’ve sold the US currency to the banks at market rate on Wednesday to settle their import payment obligations,” a senior official of the Bangladesh Bank (BB), the country’s central bank, told BBN in Dhaka.
Graft scaring off foreign investors: German envoy
Corruption in Bangladesh is the main barrier to attracting foreign investment from Germany, German Ambassador Thomas Prinz said yesterday. Germans are extremely careful about this kind of non-compliance behaviour, he told a group of businesspeople at a luncheon meeting of Foreign Investors’ Chamber of Commerce and Industry (Ficci) at the Westin Dhaka hotel.
NBR asks 37 cos to pay Tk 694cr in unpaid VAT
The large taxpayers unit (value-added tax) of National Board of Revenue has issued demand notices to 37 public and private companies, asking them to pay Tk 694 crore in VAT and source VAT which was earlier ‘evaded’ by the entities. The LTU issued the primary demand notices in September for the ‘evaded’ amount which was detected through auditing and scrutinising the documents including VAT returns submitted by the companies and through other intelligence and investigation activities.
Steel makers urge govt not to hike power tariff
Local steel producers urged the government on Wednesday not to raise electricity tariff for the steel re-rolling units to keep the prices of rod and other steel products within the range of general people. They also said the price of rod might increase by Tk 1,200 per tonne, if the proposed increased power tariff comes to effect.