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.
Govt plans to move WTO against Pak, India AD duty
The government is planning to file petitions against imposition of anti-dumping duty by India and Pakistan on import of hydrogen peroxide from Bangladesh with the dispute settlement body of the World Trade Organisation. Commerce ministry has already started preparations including scrutiny of documents and identifying the strengths in favour of the move with the help of exporters, research organisation and private law firms, officials have said.
NPL bulge blamed on too many banks
The presence of too many banks and the resultant competition are some of the main reasons for the rising amount of non-performing loan in the country, experts said on Wednesday. They also said that state-owned banks are lagging behind their private counterparts when it comes to efficiency.
Shorter lead time key to RMG export growth
Maintaining a shorter lead time holds the key for Bangladesh's garment exporters as Western customers increasingly become dependent on e-commerce rather than the traditional brick-and-mortar stores, said industry people. “If Bangladesh can't maintain a strict lead time, we will move to alternative destinations like Vietnam,” said Jordi Juani, director for Spanish company Jeanologia's Asia division.
Khulna Power suspended from Dhaka Stock Exchange
The Dhaka Stock Exchange (DSE) has suspended Khulna Power Company Limited from trading its shares. The Exchange made the call after considering the interests of investors at a meeting of its Board of Directors on Wednesday.
ECNEC okays 28 more uplift projects
The government on Wednesday endorsed 28 development projects in what is seen as an aggressive approval process ahead of the general elections. The Executive Committee of the National Economic (ECNEC), the government's highest economic policy-making body, okayed the projects at an aggregate cost of Tk 302.34 billion in its meeting presided over by Prime Minister Sheikh Hasina.
Earnings of listed NBFIs sink
Almost 64 percent of the listed non-bank financial institutions (NBFI) witnessed huge drops in their earnings in the first nine months of the year due to interest rate cutbacks, huge provisioning against default loans and losses from capital market.
India cenbank governor could resign amid tussle with govt: report
Reserve Bank of India (RBI) Governor Urjit Patel could resign at the central bank’s next board meeting on November 19, online financial publication Moneylife reported on Wednesday, citing sources in touch with the governor. The government and the RBI have been fighting for weeks over how much autonomy the RBI should have as the administration of prime minister Narendra Modi seeks to reduce curbs on lending and to gain access to the RBI’s surplus reserves.
Salt industry on the verge of collapse
Salt industry owners yesterday blamed the use of sodium sulphate as an edible salt, import of finished salt in the name of sodium sulphate, and a dual policy on import duty as the reason behind Bangladesh’s salt industry’s setback. Claiming that these undue practices have pushed the country’s natural salt industry to the verge of collapse, they made the remarks at a press conference, organized by 'Bangladesh Labon Mill Malik Samity’ at a hotel in Dhaka.
BBN/SSR/AD