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.
Dhaka-Moscow to sign deal Aug 30
Dhaka is set to sign an agreement with Moscow on August 30 for the removal of the spent fuel from Rooppur nuclear power plant in Pabna to Russia. A three-member team led by science minister Yeafesh Osman would leave Dhaka on August 28 to sign the contract in Moscow, Yeafesh told New Age on Sunday. The team includes science ministry secretary Md Anwar Hossain and Nuclear Power Company of Bangladesh Limited managing director Mohammad Shawkat Akbar, also the Rooppur nuclear power plant’s project director, he said.
Bangladesh’s imports jump by 37.45% in July
Bangladesh’s overall imports grew by 37.45 per cent in July, the first month of the ongoing fiscal year, thanks to a jump by nearly 229 per cent in import of rice. The settlement of letters of credit (LCs), generally known as actual import, rose to US$4.50 billion in July from $3.27 billion a month before. It was $3.64 billion in July 2016, according to the central bank’s latest statistics.
Foreign aid surges in July
The government has received $368 million as foreign aid in the month of July, which is almost three times the amount that flew in a year earlier. The development comes as the government set an ambitious foreign aid utilisation target for the fiscal year. The foreign aid utilisation target for fiscal 2017-18 has been set at $7.6 billion (Tk 60,817 crore), which is more than double the last fiscal year’s.
Govt report proposes 3.5% interest subsidy on home loan for civil servants
A proposal for new home loan facilities for civil servants will make the banking and real estate sectors more vibrant, according to a draft report submitted to the Finance Division recently. The report suggests that the government provides an annual interest subsidy of Tk700 crore to Tk980 crore on home loan allocations. Of the subsidies, 3.5% interest will be borne by the government and 5% by civil servants. Under the proposal, the maximum ceiling for home loans will rise to Tk75 lakh and the total loan amount will be Tk 20,000 crore to Tk28,000 crore.
Bangladesh’s stocks end higher for second day
Bangladesh’s stocks ended higher for two consecutive sessions on Tuesday as optimistic investors continued their buying spree on sector-wise stocks ahead of Eid Festival. Analysts said the market finished higher amid increased turnover as pre-Eid sale pressure somewhat subdued while some optimistic investors took position on sector-specific issues amid optimism.
Credit card market still untapped
Corporate executives and businessmen quite often get stupefied with phone calls from banks selling credit cards. It is a surprise for many that banks want to give credit willingly, even going to the doorstep of customers with the product.
BTRC drafts fresh VAS guidelines
The Bangladesh Telecommunication Regulatory Commission on Tuesday published afresh draft guidelines on value-added services mobile operators offer stating that the range of revenue sharing between the mobile phone operators and the VAS providers would be finalised after receiving public opinions on the guidelines. The draft guidelines titled ‘Regulatory Guidelines for Issuance of Registration Certificate for Providing Telecommunication Value Added Services in Bangladesh’ were published on the BTRC’s web site seeking public opinions.
BB issues loans rescheduling policy for flood-hit borrowers
The central bank of Bangladesh has issued a fresh policy on rescheduling short-term agriculture, micro-credit and SME loans to help the flood-affected borrowers continue their economic activities. Under the policy, the banks are now allowed to reschedule such loans under ‘banker-client’ relationship through relaxation of down payment requirements.