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.
Muhith blames banks’ ballooning bad loans on govt ‘interference’
In soul-searching over banking problems, Finance Minister AMA Muhith said Saturday government’s increased “interference” is largely responsible for the ballooning bad loans state-owned banks (SoBs) are now burdened with. He particularly cited the state of affairs of Sonali Bank ltd that bears a large amount of classified loans, as the SBL came under the scanner at its annual meet.
Sonali should jack up loan growth: governor
While the central bank has mounted pressure on private banks to reduce their loan-deposit ratio (LDR) to rein in aggressive lending, state-owned lenders, particularly Sonali Bank, is sitting on a huge amount of idle money for its reluctance to attract good borrowers. Finally, the regulator has stepped in to address the issue, which is no way sustainable for a bank.
Dhaka may seek Delhi nod for Kolkata airport use for B’deshi cargo shipment
Dhaka may request New Delhi to allow Bangladeshi businesses to use Indian airports particularly the Netaji Subhas Chandra Bose International Airport in Kolkata of West Bengal for export cargo shipment. Bangladesh government may raise the issue at the next commerce secretary-level meeting to be held in Dhaka in February 7-8.
Row over BGMEA election escalates
A group of apparel businessmen are challenging the Bangladesh Garment Manufacturers and Exporters Association’s (BGMEA) current board of directors over the extension of their term. Under the banner of Shadhinata Parishad, a newly formed panel, the traders on Saturday threatened to take legal action unless the executive board is dissolved to make way for a fresh election.
Weekly review: Bangladesh’s witness drastic fall
Bangladesh’s stocks tumbled last week that ended on Thursday as worried investors sold shares heavily. Market operators said growing political tension coupled with fears of liquidity shortage due to the central bank’s latest directive to slash the limit of banks’ advance-deposit ratio (ADR) kept most of the investors at bay.
Bankers seek exemption from labour act
A proposal put forward for exempting banking companies from the purview of the labour act aiming to help protect the sector from possible challenges is now under scrutiny, sources said. After receiving the proposal, made recently by the Association of Bankers, Bangladesh (ABB), the finance ministry has referred the matter both to the labour and law ministries for taking next course of action.
Telcos get nod to lay fibre optic cable on condition
Mobile phone operators will have the right to layout optical fibre cable connectivity if the nationwide telecommunication transmission network providers fail to give connectivity within 25 days, following a change in the stance of the telecom regulator. The Bangladesh Telecommunication Regulatory Commission gave the right to mobile phone operators under a clarification following queries from the operators.
What type of attack was the central bank reserve heist?
Two years after the theft of $101 million from the Bangladesh Bank reserve, many mysteries persist. One of the mysteries is what type of attack it was – a criminal heist or something state-sponsored and thus inherently more sinister?