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.
$101M BB Heist: Dhaka to claim damages from Fed by Jan 15
Bangladesh will sue the Federal Reserve Bank of New York over the money stolen during the 2016 cyber heist — one of the biggest cyber crimes in the world — Finance Minister AMA Muhith said yesterday. “A case will also be lodged against the Fed, because it is the originator of the problem,” Muhith told reporters after a meeting of the cabinet committee on purchase in the cabinet division.
Bangladesh’s NPLs hit all-time high at BDT 1.0 trillion
The amount of classified loans in the banking sector of Bangladesh reached an all-time high of nearly BDT 1.0 trillion in September ahead of the upcoming national polls. The volume of non-performing loans (NPLs) jumped by nearly 34 per cent to BDT 993.70 billion as on September 30, from BDT 743.03 billion as on December 31, 2017 despite close monitoring of the central bank. It was BDT 803.07 billion a year ago.
CCCI urges govt to restore bulk LPG supply
The Chittagong Chamber of Commerce and Industry has urged the concerned authority in the government to restore supply of bulk LPG (liquefied petroleum gas) to avoid any artificial crisis and ensure a level-playing field for the businesses and protect consumer rights.
SDG implementation tough without decentralisation of govt
Experts on Wednesday urged the government to ensure involvement of local government bodies and communities in the implementation process of sustainable development goals for making the development sustainable and inclusive. Localisation of SDGs is the best way to achieve most of the goals under the global agenda, they said at a dialogue titled ‘Let the grassroots speak: localising SDGs for inclusive development’.
Bangladesh’s export earnings jump by 17.24% in five months
Bangladesh’s export earnings grew by 17.24 per cent in the first five months of the ongoing fiscal year (FY) following higher shipment of apparel products. The overall export earnings rose to US$17.07 billion in the July-November period of the FY 2018-19 from $14.57 billion in the same period of the FY 18, the state-run Export Promotion Bureau (EPB)’s latest data showed.
Remittance through MFS doubles in Oct
Remittance disbursement through mobile financial services (MFS) more than doubled in October compared to the previous month due to growing popularity of the alternative payment channel among expatriates. The MFS providers disbursed remittance amounting to Tk 61 crore in October, which was Tk 30.78 crore in September and only Tk 6.26 crore in October last year, according to Bangladesh Bank data.
Net foreign investment at DSE negative in November
Foreign investment at the Dhaka Stock Exchange (DSE) was negative in November. Overseas investors were assessing risk factors surrounding the political developments in the run up to the December 30 national election, market operators said.
Bangladesh’s stocks end higher for four days
Bangladesh’s stocks extended the gaining streak for the four consecutive sessions on Wednesday as investors showed their buying spree on sector-wise issues. Analysts said some investors continued to show their buying spree on sector specific issues while some rebalanced their portfolio, taking the market green zone.