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.
Govt doles out Tk 20b to recapitalise banks
The government will give Tk 20 billion in a latest dollop to state-run banks to meet their capital shortfall, officials said, at a time when reports are rife on irregular big lending. The funds are set to be handed out to seven financial institutions — three state-owned banks (SoBs), three specialised banks and the restructured Grameen Bank (GB) — the sources said.
124 RMG units run in risky buildings
One hundred and twenty-four readymade garment factories in Dhaka and Chittagong have been running their business in risky buildings, ignoring the government order for closures, said officials of the Department of Inspection for Factories and Establishments. During the initial inspections on structural integrity, and fire and electrical safety conducted by two buyers’ groups — Accord on Fire and Building Safety in Bangladesh and Alliance for Bangladesh Worker Safety — and a government-ILO joint initiative, inspectors found serious safety risks in the buildings in which 163 RMG factories were housed.
ICB Islamic Bank hit by fresh liquidity crisis
ICB Islamic Bank has sought restructuring of the repayment package for depositors of its predecessor Oriental Bank on grounds of a liquidity crunch, Bangladesh Bank officials said. The bank still has to return Tk 444.34 crore of now-defunct Oriental Bank’s clients, which it was supposed to do by November 2021 — its fourth deadline from the central bank — in phases.
Why is metro rail construction costlier in Bangladesh?
Bangladesh is building first ever 20.1 kilometre metro rail project between Uttara and Motijheel in Dhaka with the capacity of carrying 60,000 passengers each hour. However, the construction cost of the metro rail (MRT line-6) in Dhaka is more than double comparing to neighboring Indian cities like Delhi or Mumbai.
Bangladesh’s stocks see sharp fall on opening day
Bangladesh’s stocks witnessed sharp fall on Sunday, the first day of this week, following poor participation in share trading activities by the investors. All the sectors of the listed securities went through corrections as the broad index of Dhaka Stock Exchange (DSE) settled below 5,800-point mark.
32,000 ECRs to be installed in first phase: Muhith
The government has decided to install 32,000 electronic cash register (ECR) machines at sales centres and shops, said Finance Minister AMA Muhith yesterday. He said 50,000 ECR machines have been imported. Of them, 32,000 machines will be installed in the first phase as the same number of business has registered for VAT online.
Pacific Denims ‘misuses’ Tk 21cr of IPO fund
The Bangladesh Securities and Exchange Commission has called the authorities of Pacific Denims Ltd to a hearing today to explain their position on ‘misuse’ of around Tk 21 crore of initial public offering proceeds and a number of other non-compliance relating to the IPO fund utilisation. The BSEC summoned PDL managing director Shafiul Azam, company secretary Sorhab Ali, independent director Ashfak Ahmed Khan, chief financial officer Abdul Halim and auditor Mahfel Haq & Co to appear before the disciplinary hearing.
96pc of CNG-run 3-wheelers in capital ply on contract
Nearly 96 per cent of the CNG-run three-wheelers in the capital ply on contract basis, thus charging exorbitant fare from the passengers, a study has revealed. According to the study, 91 per cent of the drivers, who charge fare according to the meter reading, also demand extra tips. Nonetheless 87 per cent of the drivers of such vehicles do not always want to go the passengers’ desired destinations.