A worker is working at a RMG factory in Bangladesh. Photo: BBN

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.

Local edn fails to cater for RMG sector needs
Several billion dollars in salaries and allowances of top level foreign employees are flying out of the country every year as the technical education provided here does not meet the requirements of the growing readymade garment sector in Bangladesh.

Budget aims to please all
With the national elections only months away, Finance Minister AMA Muhith places the budget tomorrow for a record 10th consecutive time, aiming to please people from all segments of society. The size of the budget to be placed in parliament at 12:30pm will be Tk 464,500 crore, 16 percent bigger than the current one.

Muhith slams BPC
Finance Minister AMA Muhith expressed his deep annoyance at the Bangladesh Petroleum Corporation’s (BPC’s) failure to pay its debt to the government. “The BPC is violating both policy and rules concerning the public accounts. This is in no way acceptable,” the finance minister wrote in a note.

BB reminds banks to ensure proper utilisation of loans
The central bank of Bangladesh has reminded the commercial banks to ensure proper utilisation of their disbursed loans through regular monitoring, officials said. The banks have also been directed to ensure that their disbursed loans are not diverted to other sectors than the proposed ones, they added.

Exports cruising towards target
After falling short last fiscal year, exports are on track to hit the target of $37.5 billion this year, propelled by a reinvigorated garment sector. In the first 11 months of fiscal 2017-18, exports brought home $33.73 billion, meaning $3.77 billion is needed this month to reach the target.

BSEC rejects Baraka Power’s plea for issuing preference shares
The Bangladesh Securities and Exchange Commission has declined a Baraka Power Limited’s proposal to raise its capital base through issuance of preference shares for non-compliance with joint shareholding rules. The company informed the Dhaka Stock Exchange that the BSEC on May 31 declined to approve the proposed increase of capital of the company through issuance of preference shares due to breaching securities laws related to mandatory 30 per cent joint shareholding by sponsor-directors.

Can a budget to retrain workers cut down unemployment?
The unemployment rate in Bangladesh has been lower compared to the previous decade, but it is also persistent. Economists and experts believe allocating a sizable portion of the upcoming budget can increase employment and expedite economic growth. According to the International Labor Organization (ILO), the unemployment rate was 4.4% in 2017 – around 2.9 million people. But the number has been challenged.

Biman may suspend flights on four int’l routes
The Biman Bangladesh Airlines (BBA) may suspend flight operation on four international routes during this Hajj season, a source said on Tuesday. The four international routes connect the country with Kuwait, Doha, Dammam and Riyadh.

BBN/SSR/AD