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.
Yarn makers to suffer as Indian cotton traders halt shipment
The sudden cancellation of shipment of 400,000 bales of cotton by Indian traders will negatively affect yarn production of Bangladeshi firms which could deal a blow to apparel exports, industry insiders said. “It is a sad incident,” said Abdul Hai Sarker, chairman of Purbani Group, which imports 30,000 bales of cotton a year, 15 percent of which from the neighbouring country.
Financing SDGs poses 'serious problem' soon
Financing government recipe for attaining the Sustainable Development Goals (SDGs) will emerge as "serious problem" for Bangladesh in the near future, says AMA Muhith. The finance minister came up with the prediction Monday at a press briefing on the eve of Bangladesh Development Forum (BDF) 2018, where the government will apprise country's development partners of huge fund involvement and mobilisation constraints.
NBR’s revenue collections fall Tk 12,622cr short of target in H1
Overall revenue earnings by the National Board of Revenue fell Tk 12,622 crore short of target in the first half of the current fiscal year 2017-2018 as revenue mobilisation in all fronts was below par. According to the provisional data of the NBR, tax officials managed to collect Tk 92,532 crore in July-December of FY18 against the collection target of Tk 1,05,154 crore for the period.
Farmers Bank gets new chairman again
Chairman of the Farmers Bank Limited (FBL) has been elected again aiming to restore confidence of the depositors through implementing a restructuring plan of the troubled private bank. The board of directors of the FBL witnessed a major reshuffle again as it got a new chairman only after a short tenure of one and half month of the outgoing chairman.
FranGlobal looks to expand its Apac presence in Bangladesh
Singapore-based FranGlobal is set to expand its Asia Pacific footprint by entering Bangladesh with 50 global brands. FranGlobal, the worldwide business augmentation of Asia’s largest franchising solutions company – Franchise India Holdings Limited (FIHL), will enter Bangladesh and make an investment of $39m in the next two years.
Rules violeted in appointing workers’ representative, allege leaders
Labour leaders have alleged that the real representation of the readymade garment sector workers has been ignored in the wage board formed on Sunday for the RMG sector as the government has violated rules in appointing workers’ representative to the board. Like the previous wage boards, this board would also be dominated by the RMG factory owners in the absence of the real representation of sector workers, they said.
NRBC left without govt funds after media reports
The government agencies have withdrawn their funds, amounting to Tk 500 crore, from NRB Commercial Bank recently due to media reports on its precarious financial position, the bank's Chairman Tamal SM Parvez said yesterday. He, however, claimed that the general public is yet to pull out funds from the bank, in an encouraging signal for the fourth generation bank.
IBBL to embrace FinTech
The Islami Bank Bangladesh Limited (IBBL) will upgrade technology-based banking in 2018 to make financial services more accessible to the mass people. The Shariah-based leading bank will also give emphasis on small investment along with large one aiming to bring more people into its network during the ongoing calendar year.
BBN/SSR/AD