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.
BPC in difficulty with LC opening for fuel oil import
CHATTOGRAM, Oct 22: The Bangladesh Petroleum Corporation (BPC) is facing difficulties in importing fuel oils as the state-owned commercial banks are unwilling to open letters of credit (LCs) on grounds of incurring losses due to the foreign exchange rate fluctuations. On October 18, the Rupali Bank Ltd. declined to open an LC for import of fuel oil worth US$20 million. The movement of the exchange rate of Bangladesh Taka against the greenback would cause a huge amount of financial loss to the commercial bank, it argued.
Top management's failure at the heart of banking woes
The current ailments in the banking sector -- such as soaring non-performing loan, liquidity crisis, loan scams and forgery -- are due to lack of strong leadership, said a top official of the central bank. “Ethical leadership practices at the top management level of banks can address these problems properly,” said SM Moniruzzaman, deputy governor of Bangladesh Bank, while addressing a seminar yesterday at the Bangladesh Institute of Bank Management.
3 telcos yet to return 47cr minutes as call-drop compensation
The three private mobile phone operators in the country are yet to return 47.32 crore minutes in talk time as compensation to their subscribers against 222.17 crore call drops in a year spanning from September, 2017 to September, 2018. State-owned operator Teletalk, however, is yet to submit data on call drops and compensation to Bangladesh Telecommunication and Regulatory Commission.
Reconditioned vehicles import highest in last eight years
Import of reconditioned vehicles has hit an all time high to 23,102 in FY18, the highest in last eight years. According to the Bangladesh Reconditioned Vehicles Importers and Dealers Association (BARVIDA), the volume of imported reconditioned vehicles has been continuously rising over the last five years.
Razee Hassan takes charge as BFIU head
Former deputy governor of Bangladesh Bank (BB) Abu Hena Mohd Razee Hassan has been appointed the head of Bangladesh Financial Intelligence Unit (BFIU) until September 10, 2021. The Ministry of Public Administration issued a notification in this connection on Monday.
Dhaka stocks hit 21-month low
The Dhaka stocks hit its 21-month low yesterday thanks to the thin participation of institutional investors who adopted a wait-and-see policy ahead of the upcoming national election. Dhaka Stock Exchange's key index—DSEX—lost 79.21 points to 5,251.95 yesterday while giving up a total of 129.56 points in the last two trading sessions.
BTRC asks operators to explain rising call drops
Bangladesh Telecommunication Regulatory Commission on Monday asked the mobile phone operators to explain the growing customer complaints about call drops. The telecom regulator issued a letter to all the mobile phone operators in this connection after commerce minister Tofail Ahmed in parliament on Sunday expressed his dissatisfaction over the call drops through Grameenphone network.
Bernicat for simplification of business processes to attract US investment
US ambassador to Bangladesh Marcia Stephens Bloom Bernicat called for simplification of business processes and improving the ease of doing business, to attract foreign direct investment (FDI) from American businesses. The envoy came up with the suggestion on Monday, after a meeting with Commerce Minister Tofail Ahmed at his secretariat office.
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