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.
BFIU finds evidence of Tk 40 billion capital flight
A group of businesses is reported to have been involved in capital flight amounting to Tk 40 billion in disguise of imports and exports. Bangladesh Financial Intelligent Unit (BFIU) has discovered the evidence of such an involvement.
Monetary policy remains unchanged
Fear of inflationary pressure, rising commodity prices in the international market and the government’s spending spree on mega projects have restrained the central bank from bringing any changes to the monetary policy. The Bangladesh Bank’s monetary policy for the first half of the fiscal year has kept the private sector credit growth target unchanged at 16.80 percent.
Bangladesh’s trade deficit may cross $22b in FY 19
Bangladesh’s overall trade deficit may cross US$22 billion by the end of the current fiscal year (FY) 2018-19, the central bank projected. Talking to the BBN, a senior official of the Bangladesh Bank (BB) said: “Our trade deficit is likely to create new record in this fiscal year mainly due to higher import payments against lower export receipts,”
Raising regulators’ standards stressed for global acceptance of B’desh pharma items
Entrepreneurs and experts on Tuesday stressed raising standards of certification and regulatory bodies of the pharmaceuticals sector so that locally produced medicines were widely accepted in global market. They also emphasised creating brands of medicine to capture a fair share of more than $1.13 trillion international market of pharmaceutical products.
Bangladesh’s stocks back to higher after five-day
Bangladesh’s stocks returned to the green on Tuesday, breaking a five-day losing streak, as investors showed buying spree on sector-wise stocks. The market opened on positive note and the upward trend sustained till end of the session.
Cap deposit rates for cheaper loans
The interest rate on lending did not come down to single digit as promised by banks as the rate on deposits remained sticky upwards, said bank directors yesterday. Earlier on June 20, banks, both public and private, have pledged to lower the interest rate for lending to single digits from July 1 provided there is a cap on the interest rate for deposits.
Economists seem pitted against each other
Leading economists are divergent over the monetary policy stance of the central bank, with some seeing it as ‘expansionary’ while others call it ‘contractionary’. Bangladesh Bank governor Fazle Kabir unveiled monetary policy statement for July-December-2018 at its headquarters in Dhaka on Tuesday.
CSE to inspect 3 non-productive companies
The Chittagong Stock Exchange (CSE) is set to inspect both the factories and head offices of three non-productive companies. The companies to be inspected are Emerald Oil Industries Limited, C & A Textiles Limited, and Beach Hatchery Limited. The Bangladesh Securities and Exchange Commission (BSEC) approved the CSE’s proposal to inspect the companies on Tuesday.