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.
Deadlock ends at Benapole
Trade activities through Benapole Land Port resumed Monday night after five days. The activities had come to a halt on Thursday when the users of India’s Petrapole Land Port, which is opposite to the Benapole port, went on an indefinite strike after Petrapole customs officials decided to issue car passes writing the details themselves.
Bangladesh slashes ADR to curb ‘aggressive’ lending
The central bank of Bangladesh slashed the limit of advance-deposit ratio (ADR) on Tuesday to help check any possible liquidity pressure on the market due to the banks’ ‘aggressive’ lending. The ADR is re-fixed at 83.50 per cent for all the conventional banks and at 89 per cent for the Shariah-based Islamic banks. The existing ratios are 85 per cent and 90 per cent respectively.
Is the banking sector facing a liquidity crisis?
Just six months ago, the banking sector was facing problems over surplus liquidity. A number of banks had to stop taking deposits to reduce the burden of extra liquidity which stood at around TK1.25 lakh crore. The problem was exacerbated by the fact that investors did not see attractive growth for private sector investments.
NBR asks 3 orgs to pay Tk 212cr unpaid taxes
Large Taxpayers Unit (Value-Added Tax) of the National Board of Revenue has demanded Tk 212.86 crore in unpaid VAT and excise duty from state-own Dhaka WASA, private Prime Bank Ltd and mobile operator Grameenphone Ltd. The LTU on Monday and Tuesday issued separate letters signed by its commissioner Md Matiur Rahman to the organisations asking them to pay the amount to the government exchequer.
Bangladesh’s stocks return to lower after disclosing earnings
Bangladesh’s stocks backed to the red zone on Tuesday as investors went late hours selling binge amid lower than expected earnings disclosure of some listed companies. Analysts said the market backed to the red as many listed companies quarterly earnings data failed to meet the investors’ expectation while some analysing the announced monetary policy statement.
Banks asked to speed up loan recovery
Bangladesh Bank yesterday expressed dissatisfaction over banks’ sluggish recovery rate given the surge in non-performing loans in the first nine months of 2017. At the end of September last year, the banking sector’s total classified loans stood at Tk 80,307 crore, up from Tk 62,172 crore in December 2016.
BSEC approves Bashundhara Paper IPO, IDLC Growth Fund application
The securities regulator has approved the proposal of issuing above 26.04 million IPO shares by the Bashundhara Paper Mills to raise a capital worth Tk 2.0 billion under the book building method. The approval to IPO (initial public offering) proposal came Tuesday at a meeting held at the office of the Bangladesh Securities and Exchange Commission (BSEC).
6 interviewed for BB dy governor post
Six candidates on Tuesday faced interview for the post of deputy governor of the Bangladesh Bank. The search committee formed to look for the candidates to appoint deputy governor of the central bank conducted the interview as the deputy governor post would be vacant following end of the tenure of contractual appointment of SK Sur Chowdhury, which expire today (Wednesday).