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.
Country’s brand value keeps on rising
The brand value of Bangladesh as a nation has been rising gradually. This reflects the country’s socio-economic vibrancy. After 46 years of the independence, Bangladesh is now 44th most valuable nation brand in the world. The ‘Nation Brands 2017’ report, released in October by London-based Brand Finance, showed that the nation brand value of the country has reached $208 billion in the current year, which was worth $170 billion in 2016.
Rice prices creeping up again
Rice prices have started creeping up again, spurred by increased import costs and speculations that the ongoing Aman harvesting period was witnessing a reduction in yield, according to traders and millers. Coarse grain sold at Tk 44-46 per kilogramme at city retail markets yesterday, up from Tk 42-46 a week ago.
BTRC takes fresh initiatives to revise rate
Bangladesh Telecommunication Regulatory Commission has initiated a fresh move to revise its decision on international call termination rate after nine months of finalisation amid pressure from the influential International Gateway operators. An official of the commission told New Age on Thursday that the commission under its latest move will hold meeting with the stakeholders including the IGW operators, interconnecting exchanges and mobile phones operators to revise the decision.
Revenue target daydreams continue
The Finance Division has once again set overly ambitious revenue targets for next fiscal, despite the revenue board’s repeated failures to achieve set targets in the last several years. Finance Minister AMA Muhith recently approved Internal Resources Division’s proposal of Tk340774cr revenue collection target at the Fiscal Coordination Council meeting. This is 18% bigger than the current fiscal year’s budget outlay – in money terms Tk52784cr higher.
Bangladesh’s stocks end lower for third week
Bangladesh’s stocks witnessed another bearish week, extending the losing streak for the three consecutive weeks, as investors continued their selling binge ahead of year-end. Analysts said price correction of large-cap sectors, like food & allied, telecommunication, pharmaceuticals, engineering and fuel & power contributed the overall market fall.
Import orders scale all-time high of $16.1b
The country’s overall import orders recorded an all-time high of US$ 16.10 billion in November while letter of credit (LC) of a large amount was opened for setting up Rooppur Nuclear Power Plant (NPP), officials said. Bangladesh Atomic Energy Commission (BAEC) opened the LC worth $ 11.38 billion through the state-owned Sonali Bank Limited to import different items, including capital machinery, to build the plant, according to the Bangladesh Bank’s (BB) latest data, released on Thursday.
Agrani spurns BB, keeps open Canada exchange house
Agrani Bank has kept open a thoroughly loss-making exchange house in Canada for the last one and half years by defying Bangladesh Bank orders. On June 14 last year, BB gave its nod to the state-owned bank to shutter the exchange house, Agrani Remittance House Canada Inc, and later even permitted Agrani to remit CAD 1 lakh (equivalent to Tk 64.48 lakh) to wrap up the operations.
Private bank MDs grappling with board interference
Not so long ago, being a managing director of a bank was a sought-after job and one to which most bankers aspired. But the once prestigious position is increasingly losing its lustre among bankers due to the undue interference of banks’ board of directors in day-to-day activities of the management. Bank officials said an MD can grant a loan of up to Tk4-5 crore, and a proposal has to be tabled at board meetings for approval to disburse amounts bigger than this.