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.
Q1 NPLs with industries swell to Tk 239.97b
Classified loans in the industrial sector swelled by over 18 per cent or Tk 36.94 billion in the first quarter (Q1) of the current fiscal year (FY), proving the recovery drives by banks and financial institutions ineffective, to a great extent, officials said. The non-performing loans (NPLs) in the industrial sector rose to Tk 239.97 billion at the end of the July-September quarter of FY 2016-17 from Tk 203.02 billion in the same period last year, according to the central bank's latest statistics.
Bangladesh’s exports grow by 5.46% in November
Bangladesh’s export earnings grew by 5.46 per cent in November compared with same period of the last year, according to official data released on Tuesday. The export earnings rose to US$ 2.90 billion in November 2016 from $2.75 billion a year ago, the state-run Export Promotion Bureau (EPB) said. On the other hand, the overall export earnings during the first five months of current fiscal year (FY) 2016-17 grew by 6.30 per cent to $13.69 billion from $12.88 billion in the same period of last fiscal.
Inflation edges down as food prices cool
The consumer price index that gauges inflation fell to a three-month low in November, driven by a decline in prices of some major food items. Inflation declined to 5.38 percent in November, down from 5.57 percent in October and 5.53 percent in September, according to data from Bangladesh Bureau of Statistics. Inflation was 6.05 percent in November last year.
Directors swallow Tk 88,790cr as credit from each other’s banks
Directors borrowed Tk 88,790.03 crore from each other’s banks until September 30 through mutual understanding, according a Bangladesh Bank records. The huge lending to directors raised serious questions regarding corporate governance in these banks as entrepreneurs are often refused credit. Economists and Bangladesh Bank officials expressed serious concern over the shady lending practice. BB records show that 13.96 per cent of Tk 6,35,986.89 crore lent by 56 scheduled banks until September was disbursed to bank directors.
Bangladesh’s stocks end higher for 2nd day
Bangladesh’s stocks edged higher for the second day in a row on Tuesday as most of the investors remained on buying spree amid optimism. Analysts said the market closed higher for two consecutive sessions as enthusiastic investors were active on large-cap stocks almost throughout the session, taking the prime index of the major bourse to a new high for 2016. The market started with a positive note and the key index of the major bourse rose around 21 points within first hour of trading, but profit booking sale pressure eroded most of the gain, ultimately ended 9.76 points higher.
ADP spending stands 19pc in five months
Progress in implementation of the annual development programme is still in the lowest quarter even after five months of the current fiscal year though the implementation rate increased a little in July-November period of the year. The government agencies could spend only 19.13 per cent of the total allocation for the entire year in the period, up by 2 per cent than that of same months of the last fiscal year, according to the data of the Implementation Monitoring and Evaluation Division of the planning ministry.
ILO for decent jobs to end poverty
Since the world of work is changing and societies are becoming increasingly unequal, policy makers have to respond effectively to the changes to implement SDGs, especially decent work, to reduce poverty, ILO Director General Guy Ryder said yesterday. Ryder was addressing the ministers, government high-ups, employers, diplomats and trade union leaders at the opening session of the 16th Asia and the Pacific Regional Meeting at Bali Nusa-Dua Convention Centre in Indonesia.
BTRC asks operators to introduce voicemail
The telecom regulator has directed mobile phone operators to introduce voicemail services within the next three months. However, the operators are not interested, calling it obsolete. Voicemail allows customers to leave a voice message when the user is on another call, does not answer or when their phone is switched off. Subscribers can listen to the recorded message at a later time.
BBN/SSR/AD