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.
Chinese consortium agrees to go by binding BD rules
The bid-winning Chinese consortium agreed to exclude and relax their conditions set to be strategic partner of Dhaka Stock Exchange (DSE), trying to address a few issues. Having received consent from the Chinese consortium, comprising Shenzhen Stock Exchange and Shanghai Stock Exchange, the premier bourse of Bangladesh sent Sunday the clarification of the sticking points to the securities regulator.
CID, BB asked to expedite process to file case
Criminal Investigation Department and Bangladesh Bank were on Sunday asked to expedite the process to help the government file a criminal case against Rizal Commercial Banking Corporation of the Philippines as soon as possible to recover the stolen reserve fund, officials said. A special review meeting, presided over by AMA Muhith at the secretariat, gave the directives so that the country could file the case with a New York court against the Pilipino bank by the deadline that would expire in February 2019, they said.
Bangladesh’s bad loan ratio higher than India, Nepal
The high non-performing loan ratio remains a key concern for the banking sector, said a country paper on Bangladesh that was presented at a conference yesterday. Between 2014 and 2018, the NPL ratio has been hovering above the 10-percent mark, according to the paper titled “A Review of the Activities and Performance of the Banking Sector of Bangladesh”.
Chinese mobile brands growing rapidly
Chinese mobile phone brands are building up their presence in Bangladesh, doubling their share within a year. In 2017, Chinese brands accounted for 22 percent of the smartphones imported, up from 12 percent a year earlier, according to local importers.
Bangladesh’s stocks open week on positive note
Bangladesh’s stocks extended gaining spell for fourth straight sessions on Sunday in a row as a section of investors continued their buying appetite on sector-wise stocks. Analysts said witnessed yet another positive session as bargain hunters took position on the lucrative price level in sector specific stocks.
Bangladesh to seek more Vietnamese investment
Bangladeshi businesses will seek more investment from Vietnam during the visit of the Southeast Asian country’s President Tran Dai Quang, who arrived in Dhaka yesterday. The bilateral trade volume is in favour of Vietnam, from where Bangladesh has been importing woven fabrics in bulk quantity since 2011 after the relaxation of the Rules of Origin by the EU for the least developed countries.
Formalities delay rice OMS resumption
The government could not resume its open market sales of rice in Dhaka and most other places in the country on Sunday as it could not complete necessary formalities. The government on Thursday had announced resumption of the OMS from Sunday as rice prices leaped by one per cent to three per cent depending on verities over last month.
Banking system trails economic growth pace
Bangladesh’s banking system, especially the central bank, falls behind the country’s growth, creating a mismatch, says an expert. “If you look at the major indicators of Bangladesh’s economy, including GDP and budget, it has jumped many, many times over the decades. But the banking sector has not,” former Governor of Bangladesh Bank Dr. Mohammed Farashuddin told a regional banking conference in Dhaka on Sunday.