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.
Muhith blames bankers for promoting default culture
Finance Minister A M A Muhith came down heavily on bankers on Sunday, and blamed their non-co-operative approach for increasing the number of defaulters incessantly. “I noticed, you people (bankers), after offering one instalment of loan to a party, try to make him a defaulter. You create situation, so that he becomes a defaulter immediately.”
Businesses keen to see futuristic economic policies to become attractive regional economy
Industrialists and economists urged major political parties to come up with strong political agenda to turn the local economy into a regional business hub, with pledges to address institutional weakness of key monetary institutions, pervasive corruption and deliver a long-term investment policy in their election manifestos. While the main political parties are in the process of drafting manifestos in the run up to the December 30 national elections, the chamber leaders urged to prioritise economic policies over political issues to steer the economy to double-digit growth trajectory.
Govt. to borrow more from banks ahead of polls
Bangladesh government is set to boost its bank borrowing significantly in November mainly due to the upcoming general elections. Officials also said the government borrowing from the country’s banking system may increase further in the month of December.
Rice production slows
The growth of rice production has slowed to only 0.4 percent since 2010, making it tough to feed the growing population amid a continuous fall in arable land, the chief of International Rice Research Institute (IRRI) said yesterday. Before 2010, rice production grew by more than 2 percent annually, Humnath Bhandari said at the opening of a two-day workshop on “Transforming Rice Breeding (TRB): current status and way forward”.
Sharp fall in consumer loans
Consumer borrowing growth has seen a sharp fall in June thanks to the tightening of the belts by the lenders when a cash crunch hit the sector in January this year. Consumer loan outstanding slid by 12.41 percent in six months to Tk 60,700 crore in June this year.
Govt to procure Aman rice at Tk 36 a kg
The government has set Tk 36 for procuring seasonal Aman rice per kilogram this year by slashing down Tk 3.0 from last year’s rate. The decision was made at a meeting of the food planning and monitoring unit at the secretariat on Sunday with Food Minister Advocate Qamrul Islam in the chair.
NBR receives Tk 1,900cr in 6 days as tax fair ends today
National Board of Revenue received Tk 1,900 crore in income tax in six days of the weeklong income tax fair across the country. More than 4.12 lakh taxpayers filed their income tax returns till Sunday, the sixth day of the fair, at the fair venues including the central one set up at Officers’ Club in Dhaka.
Cheap labour continues to draw Japanese investment
The devastating terrorist attack in Dhaka in July 2016 that killed seven Japanese citizens could not dampen the Far East nation’s attraction towards Bangladesh when it comes to trade and investment. Since 2016, 24 new Japanese companies came to Bangladesh to take the tally to 269, according to data from the Japan External Trade Organisation (Jetro) in Dhaka.