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.
Government forms new wage board for RMG sector
The government has formed a new wage board for the RMG sector to formulate a new wage structure for apparel workers. State Minister for Labour and Employment Mujibul Haque Chunnu made the announcement in his office in the capital on Sunday. In 2013, aftermath of the Rana Plaza incident, the then minimum wage board set Tk5,300 as minimum wage with a basic of Tk3,000 for entry-level garment workers with a 5% yearly increment on the basic.
Muhith, Tofail censure CPD assessment
Finance minister AMA Muhith and commerce minister Tofail Ahmed on Sunday censured local think tank Centre for Policy Dialogue’s findings that crony capitalism was flourishing and the just-concluded year was most scandalous for the scam-prone banking sector. On Saturday while releasing its first reading on the state of the Bangladesh economy in the fiscal year of 2017-2018, the CPD said the banking sector was facing a cronyism-like situation where scams, plundering and other financial crimes were taking place under one kind of shelter and patronisation of the state and its powerful section of people.
Implement policies, SROs equitably
A leading trade body urged the government to implement policies, instructions and SROs (statutory regulatory orders) equitably and timely for ease of doing business, as any mismatch does them a disservice. “We get stuck to when the question of implementation of these orders come,” said Metropolitan Chamber of Commerce and Industry, Dhaka (MCCI) president Nihad Kabir while making the plea in a meeting with finance minister AMA Muhith at his secretariat office Sunday.
4G services by March
Mobile internet users, especially in city areas, can brace themselves for super-fast data service from March as all operators are set to roll out 4G service, said the top brass of the telecom regulator yesterday. The Bangladesh Telecommunication Regulatory Commission yesterday received five applications for licence to provide 4G service, which will ensure 20 Gbps speed even from mobile phone.
Bangladesh’s interest rate spread falls in November
The overall interest rate spread in the country’s banking sector fell further in November as the commercial banks slashed their interest rates more on lending than on deposits. The weighted average spread between lending and deposit rates offered by the banks came down to 4.40 per cent in November 2017 from 4.50 per cent in the previous month, according to the central bank’s latest statistics.
Berger Paints to form Tk 60cr JV with UK firm
Berger Paints Bangladesh plans to expand its business by setting up a joint venture with UK-based construction solutions provider Fosroc International with a combined investment of Tk 60 crore. The board of directors of Berger will soon sign a deal with Fosroc, according to a disclosure posted on the Dhaka Stock Exchange (DSE) website yesterday.
PDB wants Tk 8,120cr in govt subsidy for FY18
The state-run Power Development Board has sought a total of Tk 8,120 crore in subsidy from the government to offset its losses to be incurred in the financial year 2017-18. The loss estimated by the power board exceeded by Tk 3,420 crore than the loss estimated by the Bangladesh Energy Regulatory Commission for the current financial year, said officials.
Bangladesh’s stock exchanges re-balance price indices
Dhaka Stock Exchange (DSE) has re-arranged DSE Broad Index (DSEX) as part of its annual re-balancing by including 19 listed companies which fulfilled the criteria of benchmark index. The premier bourse has also re-balanced its DSE30 Index, which will continue for next six months, by including three listed companies and excluding three from the existing list of DS30.