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.
Govt for stricter performance criteria for state-run banks
The government is considering punitive actions against officials of eight state-run banks for dispensing bad loans to little known clients, the Bank and Financial Institutions Division has said. The authorities concerned are also contemplating the idea of revealing the names of top loan defaulters in newspaper advertisements to check an upward trend in defaulting.
9 directors of SIBL resign
Social Islami Bank Limited has seen another dramatic turn in a space of two weeks, with nine directors resigning at once. All of them stepped down for personal reasons at a board meeting at the SIBL headquarters in the capital on Monday, according to Anwarul Azim Arif, the newly-appointed chairman of the Shariah-based bank.
Economy grows faster at 7.28pc in FY ‘17
Bangladesh’s economy grew faster at 7.28 per cent while per-capita income by US$8.0 to $1610 in the final official calculations for the past fiscal. According to the statistics shown on Tuesday, the country’s economy finally attained a higher 7.28 per cent growth in the last financial year (FY) 2016-17, some 0.04-percentage point up from the provisional data released six months back.
Bangladesh Bank sells $35m more to two banks
The central bank of Bangladesh has sold US$ 35 million more to two public banks directly to meet the growing demand for the greenback in the market. “We’ve sold the US currency to the state-owned commercial banks at market rate on Tuesday to settle their import payment obligations,” a senior official of the Bangladesh Bank (BB), the country’s central bank, told BBN in Dhaka.
BGMEA requests govt to form wage board for RMG workers
A move has been initiated to raise the minimum monthly wages of the workers of the country’s ready-made garment sector in line with a provision of the labour law. This, industry insiders say, would help brighten the image of the apparel sector both at home and abroad. Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has recently made a request to this effect.
Inflation drops in Oct
The point-to-point inflation slightly eased to 6.04 per cent in October from that of 6.12 per cent in September mainly because of declining trend of food price, said planning minister AHM Mustafa Kamal on Tuesday. He revealed the inflation data partially at a press conference after the ECNEC meeting held at NEC conference at Agargaon in Dhaka.
Bangladesh Taka depreciates five paisa more
The Bangladesh Taka (BDT) depreciated five paisa more against the US dollar Tuesday evening following higher demand for the greenback in the inter-bank foreign exchange market. The exchange rate of the BDT against the US dollar was quoted at maximum BDT 81.15 at the evening transactions today.
Atiur for developmental central banking to boost domestic demand
The central bank of Bangladesh had focused on combining short-term business cycle fluctuation management with long-term sustainability agenda during the difficult years of Global Financial Crisis, former Bangladesh Bank (BB) Governor Dr. Atiur Rahman has said.