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.
Govt asks SoCBs to cut NPLs at any cost
The government has asked the state-owned commercial banks (SoCBs) to lower non-performing loans (NPLs) at any cost, officials said. The directive was given at a meeting at the secretariat on Wednesday with financial institutions division (FID) secretary Ashadul Islam in the chair.
Domestic tourism walloped by polls
The domestic tourism sector has been hit hard by the escalating tension surrounding Sunday's general elections as visitors stay away from popular tourist destinations such as the Chittagong Hill Tracts, Cox's Bazar and Sylhet for fear of getting stranded. The slump comes at a time when the sector typically clocks in impressive numbers for favourable weather and school holidays.
Farm loan disbursement drops by 9.17pc in Jul-Nov
Loan disbursement by banks to farmers dropped by 9.17 per cent or Tk 755.25 crore in the July-November period of this fiscal year compared with that in the same period of the previous fiscal year amid worsening liquidity shortage in the banking sector. State-run, private and foreign banks disbursed Tk 7,475.60 crore in farm loans in the five months of FY 2018-19 against Tk 8,230.88 crore disbursed in the same period of FY 2017-18, according to the latest Bangladesh Bank data.
Tanneries relocation, non-compliance at Savar Leather Park weigh on export earnings
Pressing issues like relocation of tanneries from Hazaribagh to Savar and compliance requirements put a dent on export earnings from leather and leather goods, preventing the sector from tapping into the opportunity arisen from the US-China tariff war. Industry people involved in the leather processing and export business said the present situation held back top global buyers from sourcing leather from Bangladesh.
Bangladesh’s stocks end higher for sixth day
Bangladesh’s stocks extended the gaining spell for the sixth day in a row on Wednesday as investors showed their buying spree amid post-election optimism. Analysts said the market ended higher as some investors anticipated that the market would be better after the national election scheduled for December 30.
BSTI collects samples for asbestos test
The Bangladesh Standards and Testing Institution (BSTI) has collected samples of Johnson & Johnson's baby powder from the domestic market to test if there is any presence of cancer-causing asbestos in the celebrated product, said an official yesterday. “We have given the sample to our lab to see if they can test for asbestos,” said SM Ishaque Ali, director of certification mark at BSTI.
Coppertech gets BSEC nod to float Tk 20cr IPO
The Bangladesh Securities and Exchange Commission on Wednesday approved Coppertech Industries Limited’s proposal to raise Tk 20 crore from the capital market through issuing initial public offering. The engineering company will float two crore shares at an issue price of Tk 10 each. A BSEC meeting, presided over by its chairman M Khairul Hossain, approved the IPO proposal, said a BSEC press release.
Waterway dredging to come under real-time monitoring
The dredging of inland waterways is set to come under real-time monitoring as part of a government plan to develop a web-based system to track all such schemes. Shipping ministry is working to initiate a year-long project to develop software in order to monitor public and private dredgers working under various schemes.
BBN/SSR/AD