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.
CIID report reveals shocking irregularities in Bangladesh Bank vault
An inspection report by the Customs Intelligence and Investigation Directorate (CIID) has revealed irregularities regarding gold stored in the vault of the Bangladesh Bank, which could cause a huge loss to the government. The central bank, however, has vehemently rejected the report, saying its findings were faulty because it is impossible to penetrate the vault’s security system.
Xiaomi enters Bangladesh
Chinese smartphone maker Xiaomi yesterday officially announced its entrance to Bangladesh with a view to establishing a plant within the next couple of years. “Bangladesh is one of the biggest strategic markets for us and we are targeting it as it has huge potential as well,” Manu Jain, vice-president of the global technology company, told The Daily Star at a programme at the Four Points by Sheraton in Dhaka.
Urea supply crisis may hit next Boro crop
Severe urea fertiliser crisis is feared in the upcoming Boro season, as the authority concerned finds it difficult to handle the growing supply-demand mismatch of the key agro input, officials said. To avert such an unpleasant situation during the production season of a major rice crop, the Bangladesh Chemical Industries Corporation (BCIC) has requested the Ministry of Industries (MoI) to take immediate measures for resumption of gas supply to the closed fertiliser producing units.
Accord, Alliance to leave Bangladesh after Dec 7: Tofail
Commerce minister Tofail Ahmed on Tuesday said that Accord and Alliance were no longer required for Bangladesh readymade garment sector and the time frame of the platforms would not be extended anymore beyond December this year. ‘Accord and Alliance will leave Bangladesh after the six-month transition period on December 7 and then we will take over the responsibility of factory remediation and inspection,’ the commerce minister said in a programme held at Hotel Purbani in the capital.
Bangladesh’s stocks end lower amid low turnover
Bangladesh’s stocks fell marginally with falling turnover as late hours selling pressure wiped out the early gains, market operators said. The risk-averse investors showed their selling spree on power, banking and pharmaceuticals stocks, taking the market into the red zone, they added.
ICB to raise BDT 20bn capital issuing bond
The state-run Investment Corporation of Bangladesh (ICB) will raise a capital worth BDT 20 billion issuing bond to play a major market supportive role, among others. The Bangladesh Securities and Exchange Commission (BSEC) on Tuesday approved the ICB’s proposal of issuing non-convertible fixed rated subordinate bond.
Nepal seeks lift of Bangladesh’s ban on yarn import thru Banglabandha
Nepal has sought withdrawal of Bangladesh’s restriction on yarn import through the Banglabandha land port in Bangladesh saying that the ban was causing financial losses to the Nepalese manufacturers of the product. Bangladesh commerce ministry has also requested the National Board of Revenue to consider Nepal’s proposal to allow yarn export by the landlocked Himalayan nation through the port in Tetulia of Panchagarh.
Farmers can apply for loans online
Farmers will be able to get farm loans by filling in an online application through the Union Information and Service Centre, as part of the government’s Digital Bangladesh agenda. The digital credit programme for farmers will be launched tomorrow at the Bangladesh Bank headquarters in the capital.