A worker is working at a RMG factory in Bangladesh. Photo: BBN
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.
Exports remain robust in Sep
Overseas shipments brought home upwards of $3 billion for the third straight month in September -- an encouraging sign as the country chases its highest export target yet this fiscal year. Last month, export receipts came to $3.15 billion, up 55.17 percent from a year earlier but down 1.89 percent from the previous month, according to data from the Export Promotion Bureau.
Banks can lend more
Commercial banks have been empowered to lend more as the central bank has relaxed cash reserve requirement (CRR) and statutory liquidity ratio (SLR) rules. Officials said the banks are allowed to maintain both CRR and SLR with the Bangladesh Bank (BB) only for net investment in subordinate bonds instead of the previous gross investment amount.
Agrani Bank approves loan to Le Meridian owner
State-owned Agrani Bank is going to provide a large loan to the owner of the five-star Le Meridian hotel who is facing an Anti-Corruption Commission (ACC) investigation into the alleged amassing of illegal wealth. Amin Ahmad Bhuiyan is accused of accumulating wealth totalling crores of taka through illegal business and the misappropriation of government assets.
PMO asks NBR to find reasons behind foreign investors’ exit
Prime Minister’s Office has asked National Board of Revenue to analyse the possible reasons behind the decision of some large foreign industries and airlines of leaving the country. It also asked NBR to find out whether the tax authorities could do anything in this connection, said NBR officials.
NKorea hackers broke into banks, tried to take US$1.1b
A North Korean hacking group focused on financial gain for the rogue state has penetrated banks around the world with a series of ongoing attacks, and has tried to steal at least US$1.1bil (RM4.58bil) over the last four years, according to a new tally by cybersecurity firm FireEye Inc. The group, which FireEye identified as APT38, has infiltrated more than 16 organisations in 11 countries including the United States, and stolen more than US$100mil (RM416mil). The hackers have gotten past heavily defended servers at banks and spent time scouring the networks. Security officials should be alarmed, FireEye said last week in a report.
BB must ensure compliance of regulatory measures by commercial banks
President of International Chamber of Commerce-Bangladesh (ICC-B) Mahbubur Rahman has said Bangladesh Bank must ensure compliance of regulatory measures by the commercial banks. "So far only limited action has been taken to penalise defaulters, improve risk management and strengthen professionalism in bank management. To tackle the sector's deep-rooted problems of corruption and poor risk practices further efforts are needed," the ICC-B chief said while addressing the closing ceremony of a two-day workshop on Importance of Compliance in Trade Finance at a city hotel on Sunday.
MNOs must take liability for SIM card misuse in illegal VoIP business
Mobile network operators should not avoid liability for misuse of SIM cards in illegal voice over internet protocol business as most of the SIM cards which were used for terminating international calls through illegal VoIP lacked details about owners and sellers, BTRC officials said after a 12-day drive against illegal VoIP business. They said under the licencing conditions, MNOs must prevent such misuse of subscriber identification module cards.
State banks’ loss-making branches shrink
The number of loss-making branch of five state-owned commercial banks came down 24 percent to 270 in the first half of the year. All five banks except Janata saw a sharp decline in the number of loss-making branches thanks to an expansion of loan activities at branch level, said bank officials.
BBN/SSR/AD