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.
Remittance to hit $15.9b this year: WB
Remittance inflow to Bangladesh this year will hit $ 15.9 billion with 17.9 per cent year-on-year growth, according to a World Bank report released on Saturday. The country will retain its position as 9th top remittance receivers this year, said the global lender in its report ‘Migration and Remittances: Recent Developments and Outlook’.
Leave banks alone
The most debated topic right now outside politics is probably the banks laden with around Tk 100,000 crore in nonperforming loans and at least Tk 22,000 crore taken out through scams in recent years. This is a roll back on the improvement achieved in the 1990s through reform programmes.
Scams cost banking sector Tk 225b in 10 yrs: CPD
Experts at a seminar in the capital on Saturday called for finding ways to keep the banking sector away from “patronage politics”. The central bank needs to come out of the grip of the government and bank owners and should exercise much more autonomy in its functions, they said.
Hili port: Farakka Barrage reconstruction cuts trade transport traffic by 50%
Due to maintenance work on the Farakka Barrage in India, the transport of goods through the Hili land port in Dinajpur has dropped considerably. Earlier, on an average, 200-250 trucks carrying onions, stones, and other goods crossed the port daily. Now the number has dropped to 100-120 trucks per day.
Bangladesh’s stocks return to higher last week
Bangladesh’s stocks rebounded last week that ended on Thursday as optimistic investors showed their buying spree on financial issues. DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 51.55 points or 0.98 percent to settle the week at 5,332.
Bangladesh remains most optimistic market
Bangladeshi firms continue to be the most optimistic out of the 34 countries in which British banking giant HSBC operates, said one of its top officials. “The reason for the optimism is favourable situation and stable political environment,” Md Mahbub-ur-Rahman, deputy chief executive officer of HSBC Bangladesh, told The Daily Star in an interview recently.
Exports to US soar by 22pc in five months on US-China trade war
The country’s export earnings from the United States posted 21.85 per cent growth in the first five months of the fiscal year 2018-2019 compared with the same period of FY18 due to shifting US orders of readymade garment products to Bangladesh amid US-China trade war.
BB’s forex support rises to $1.0b so far this fiscal
The central bank has so far sold nearly US$1.0 billion this fiscal year directly to the commercial banks for settling their import payment obligations, officials said. “We’re providing such foreign currency support to the banks for making import payment bills,” a senior official of the Bangladesh Bank (BB) told the FE on Thursday.