Cartoon: New Age
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.
Experts oppose banks owners’ demand for cash reserve cut
Banking experts have opposed the demand of the Bangladesh Association of Banks to decrease the cash reserve requirement of banks to 3.5 per cent from the existing 6.5 per cent for the sake of depositors. During a meeting with finance minister AMA Muhith on Friday in a Dhaka hotel BAB, an organisation of private bank owners, made the demand.
Bangladesh’s PCBs to get 50% of state entities’ deposits
The state-owned enterprises (SoEs) will be allowed depositing 50 per cent of their funds with the private commercial banks (PCBs), up from the existing 25 per cent. The decision was made at a closed-door meeting between the members of Bangladesh Association of Banks (BAB) and Finance Minister AMA Muhith on Friday evening.
No negative reporting!
In an unprecedented move, directors of private commercial banks are now seeking protection from the government against what they say is negative reporting on the banking sector. In their views, such news may create panic among people and customers may lose trust in banks.
BB chief links it to functioning of FIs
Bangladesh's sustainable transition from the LDC (least-developed country) status largely depends on effective functioning of the country's financial institutions (FIs), says the central bank chief. The Bangladesh Bank governor, Fazle Kabir, made the remark Saturday while hailing Bangladesh's recent fulfillment of threshold criteria for graduation to a developing country by a UN panel's assessment.
Bangladesh’s stocks break five-week losing streak
Bangladesh’s stocks returned to green last week that ended on Thursday, breaking the five weeks’ losing streak, driven by government’s move to ease the ongoing liquidity crunch. Analysts said the market edged higher as optimistic investors showed their buying appetite in the closing session of the week encouraged by the government’s move to mitigate the ongoing liquidity shortage.
Regulator weighing pleas for doubling gas price
State energy regulator now weighs the proposals submitted by the gas- distribution companies for nearly doubling its tariffs, with an obvious motive of adjusting the prices with that of expensive LNG. As planned, the hike in gas tariffs will be applicable to all consumers save households.
GDP to grow 7.8pc next fiscal year
Bangladesh will be able to attain 7.8 percent economic growth in the next fiscal year, said Finance Minister AMA Muhith yesterday. The government has set a target of 7.4 percent GDP growth for the current fiscal year of 2017-18. “But we hope it would be 7.5 percent,” said Muhith.
Bangladesh’s unexplored prospects in trade with Tripura
Bangladesh will earn massive profits on the condition that they directly invest in Tripura by setting up its industrial units in the Northeast Indian state itself. Strong connectivity in Tripura built up by the Indian government as part of its “Act East Policy” justifies this thought.
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