Commerce Minister Tofail Ahmed, British High Commissioner to Bangladesh Alison Blake and top executives of the ‘7th HSBC Export Excellence Awards’ winners seen in the event held in Dhaka on November 18, 2017. Photo: Star 

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.

HSBC honours export heroes
HSBC Bangladesh has recognised five local exporters for their leadership in brightening the country’s image and contributing to the nation’s sustainable growth. The winners of the ‘7th HSBC Export Excellence Awards’ are: Square Fashions, Tarasima Apparels, Envoy Textiles, Seamark (BD), and Classical Handmade Products Bangladesh.

Hardly any statistician in statistical bureau
Rampant inadequacy and discrepancy in data and evidence are hindering effective policymaking in Bangladesh, sometimes resulting in outcome mismatches, experts observed Saturday. And a government policy adviser, attending the same function where they made such observations, pointed out inadequacies in the government statistical bureau itself for lack of well-groomed statisticians.

Farmers Bank spirals towards insolvency
Trouble-hit Farmers Bank has twice failed to honour a cheque worth Tk 35.44 crore presented by Bangladesh Telecommuni-cations Company Ltd, in what can be described as the latest episode in the four-year old bank’s spiral towards insolvency. The development comes after Bangladesh Bank last month in a report to the parliamentary standing committee on the finance ministry said the bank does not have the capacity to pay back funds to depositors and other banks.

Bangladesh’s stocks end higher for third week
Bangladesh’s stocks extended the gaining streak for the three consecutive weeks that ended on Thursday as investors continued their buying spree on large-cap stocks. Analysts said the market extended the winning streak riding on heavyweight telecom, pharmaceuticals, banking, food and allied sectors issues which affect the index largely.

Bangladesh Bank launches $240m fund for CMSME
The central bank of Bangladesh has launched a US$240 million refinancing fund to facilitate cottage, micro, small and medium enterprises (CMSME) across the country. The government has created the fund with taking financial assistance from the Asian Development Bank (ADB) to help CMSME, officials said.

BGB, police get customs authority on condition
The National Board of Revenue has entrusted the authority of a customs official to the Border Guard Bangladesh and the Bangladesh Police for conducting anti-smuggling drives and exercising other related powers. The revenue board on November 15 issued two separate orders signed by its chairman Md Nojibur Rahman in this connection, putting some conditions and limitations in exercising the authority by the BGB and the police.

Bangladesh Bank sells $5.0 million more to bank
The central bank of Bangladesh has sold US$ 5.0 million more to a commercial bank directly to meet the growing demand for the greenback in the market. “The central bank sold the US currency to the bank at market rate on Thursday to settle their import payment obligations,” a senior official of the Bangladesh Bank (BB), the country’s central bank, told BBN in Dhaka.

Major safety concerns still remain unresolved in many RMG units
Major life-threatening safety concerns still remain outstanding in many garment factories inspected by the western retailers’ platform — Accord — although 80 per cent of identified safety flaws have so far been fixed. In its quarterly progress update till October 01, the Accord said inadequate fire detection and alarm systems still remain outstanding in some 946 garment factories out of 1,378 units where the findings have been identified.

BBN/SSR/AD