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.
Four SCBs show little progress in loan recovery from top 20 defaulters
Four State-owned Commercial Banks (SCBs) have made little progress in recovering bad loans from their top 20 defaulters, despite repeated warnings from the Bangladesh Bank(BB), as the errant firms gobbled up Tk13,254 crore from the public sector banks concerned.
BGMEA, BKMEA dilly-dallying with govt order to stop UD
BGMEA and BKMEA, the two associations of the country’s apparel exporters, have failed to comply with the government directive to stop issuing Utilisation Declaration to 219 non-compliant readymade garment factories in three weeks.
Don't hire temporary employees
State-owned banks and financial institutions have been instructed not to recruit any more employees on a temporary basis. The finance ministry issued a circular recently asking 16 banks and financial institutions to follow the instruction.
Govt body opposes KrisEnergy proposal
A government expert body has opposed KrisEnergy proposal to dig Bangora-7 (B7) gas well, saying it is "unjustified and harmful" for the national interest. The B7 well is adjacent to Srikail-4 well, where Bangladesh Petroleum Exploration and Production Company (BAPEX) is currently producing gas.
Bangladesh Taka depreciates further against US$
The exchange rate of Bangladesh Taka (BDT) depreciated further against the US dollar (US$) in the last week, despite the central bank’s foreign currency support to the commercial banks. The local currency depreciated by three paisas on Thursday, the last working of the week, mainly due to higher demand for the greenback, according to the market operators.
NBR moves to amend new VAT law before implementation
National Board of Revenue has taken a move to amend the now-suspended VAT and Supplementary Duty Act-2012 as a preparation for implementation of the law from July 2019. VAT Online Project (VOP) of NBR on Wednesday sought from field-level offices proposals on the probable amendments to the law.
Bangladesh wants bigger Indian investment
Bangladesh High Commissioner to India Syed Muazzem Ali has called on the Indian businesspeople to boost their investment in Bangladesh to reap the benefits of the country's rapid economic growth and business friendly environment. He was speaking at the Pondicherry Global Economic Summit and the Fifth World Tamils Economic Conference Pondicherry on Saturday, reports UNB.
Bangladesh’s stocks edge up for second week
Bangladesh’s stocks ended marginally higher last week that ended on Thursday, extending the gaining streak for the second week in a row, as investors continued their buying spree. Analysts said most of the investors were buying shares, particularly from power, food and pharma sectors, taking the market in the positive territory.
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