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.
Scam-hit state-owned banks seek Tk 20,398cr in bailout
Seven state-owned commercial and specialised banks at a meeting on Wednesday demanded Tk 20,398 crore in bailouts because of capital shortfall caused, according to experts, by the banks’ failure to recover the loans given on political consideration. Officials attending the meeting said that scam-hit Sonali Bank, Janata Bank and BASIC Bank sought Tk 11,000 crore or 55 per cent of the overall demand.
Civil servants likely to get large subsidised home loans
The government contemplates doling out around Tk 9.80 billion in annual subsidy to civil servants to help them buy homes, which drew critical appreciation, though. Sources said the ceiling of home loan for the government employees would also be raised to Tk 7.50 million to the maximum from the previous maximum loan amount of only Tk 120,000, as per the government plan.
Bank savers can smile again
Though the recent rise in interest rates has become a bane for borrowers, it is a boon for savers, especially for retirees and others who live off their savings. The rate hike was a side-effect of a Bangladesh Bank policy meant to push down the loan-deposit ratio to 83.5 percent by June from 85 percent.
North Korean hackers behind $81m cyber theft from Bangladesh Bank
Hackers from North Korea pulled off one of the biggest cyber heists in history when they stole $81 million from Bangladesh’s central bank, America’s top spymaster told lawmakers on Tuesday. National Intelligence Director Dan Coats told Senate Select Committee on Intelligence that North Korea poses a major threat to cybersecurity globally and the US in particular.
Bangladesh Bank sells $8.0m more to six banks
The central bank of Bangladesh has sold US$8.0 million more to six commercial banks to meet the growing demand for the greenback in the market. “We’ve sold the foreign currency to the banks on Wednesday at market rate to settle outstanding letters of credit (LCs) against imports particularly fuel oil, food grains and capital machinery for power sector,” a senior official of the Bangladesh Bank (BB) told the BBN in Dhaka.
BB appoints 24 PFIs for Japan FDI project
Bangladesh Bank (BB) has selected 24 banks and financial institutions as participating financial institutions (PFIs) for providing 7,033 million Japanese Yen (equivalent to Tk 5,445 million) in loans under a foreign direct investment (FDI) promotion project. A signing ceremony with 19 banks and five FIs was held at Jahangir Alam conference room of the central bank headquarters in the city on Wednesday, in presence of BB governor Fazle Kabir.
No reason to reject China consortium’s proposal: BSEC chief
There is no basis for turning down the Chinese consortium’s proposal to buy 25 percent stakes in Dhaka Stock Exchange and become a strategic partner, said M Khairul Hossain, chairman of the Bangladesh Securities and Exchange Commission. At the same time, the proposal from the National Stock Exchange of India will also be considered as they have successfully handled demutualisation of its bourse, he told The Daily Star yesterday. “It will be better if we can engage both the investors.”
PDB receives bids for 300MW power import from India
State-run Power Development Board has received bids from four Indian companies to import 300 megawatts power for 15 years. ‘We have opened the financial proposals submitted by four Indian companies for short-term and long-term power imports from India,’ the power board chairman, Khaled Mahmud, told New Age on Wednesday.