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.
Mobile banking on a roll
Mobile banking went from strength to strength, with transactions swelling 48.75 percent year-on-year to Tk 234,691.79 crore in 2016, according to Bangladesh Bank. “This is a very significant growth and we think this growth will continue for the next few years,” said Subhankar Saha, executive director of the central bank. The BB introduced mobile money five years ago but it was only in the last three years that the market started to come into its own.
BB relaxes forex rules for EPZs, EZs
All A-type industries in Export Processing Zones (EPZs) and Economic Zones (EZs) can now borrow short-term foreign-currency loans from parent companies abroad and their other subsidiaries operating in these hubs in Bangladesh. Such a latest stimulus for the foreign investors-meant for a fillip to economic activities in these special zones-came through relaxation of the foreign-exchange regulations of the country.
DIFE develops 4 factory inspection apps
The Department of Inspection for Factories and Establishments has developed four mobile applications for factory inspection with the aim of ensuring effective and transparent inspection at the country’s industrial units. The names of the apps are: Paridarshok Parikkroma (inspectors’ rotation), Labour Inspection Management, DIFE Information Management and Digital Reporting.
BD bids to borrow $500m from India
The government bids to borrow US$ 500 million from India for bankrolling economic zones (EZs) planned across Bangladesh under a special industrialisation recipe. Officials said the loan will be utilised for infrastructure development of Mirsarai special economic zone and different other economic zones (EZs) including Moheshkhali EZ.
DSEX crosses 5,600-mark on buying spree
Bangladesh’s stocks returned to the upbeat trend on Sunday, with key index of the Dhaka Stock Exchange (DSE) crossed the 5,600-mark, amid strong buying pressure from investors. Analysts said the market took bullish turn amid revival of investors’ optimism after witnessing correction in the past two days. The market started with a flying note and the key index of the premier bourse gained 32 points within first 15 minutes of trading, but next 45 minutes it lost almost all the initial gain.
Muhith sees a strong capital market
Finance Minister AMA Muhith sees a ‘strong’ capital market in the next three years. Bangladesh has been maintaining more than 6 percent economic growth on average for a decade and only a few countries have this record, he said. “We are on the right track. If we can make some changes, many new horizons will open up within this decade,” he said. “I believe we will have a strong capital market within three years,” Muhith said while addressing the launch of MIDAS Investment, a subsidiary of MIDAS Financing.
Life insurers’ income grows in 2016 after bumpy ride
Helped by favouarble economic environment, the premium income of the country’s life insurers grew nearly 4.0 per cent in 2016 after recording weaker growth a year ago. The total premiums earnings by all 32 life firms reached Tk 76.79 billion last year, according to preliminary data submitted to the insurance regulator. This is total earnings of premiums of the first year business and renewal income.
300 Bangladeshis with Russian job offers denied visas
Over 300 Bangladeshi workers who were offered jobs in the Russian Federation last September were refused Russian visas as there was no manpower recruitment deal between the two countries, according to Bangladeshi officials. The expatriates welfare and overseas employment ministry has initiated moves to reach a bilateral agreement on manpower recruitment with Russia, the officials told New Age on Sunday.