Dhaka, Bangladesh (BBN)– The BBN (Bangladesh Business News) has prepared the morning news highlights compiling reports, published by different newspapers and news portals in Bangladesh.
Prevent banking by militants: BB chief
Bangladesh Bank (BB) Governor Dr Atiur Rahman today asked the commercial banks to take the highest cautionary measures so that no one can use the banking channel for financing terrorism both at home and aboard. “You (bankers) have to collect detail information on customers and have to monitor their transactions very closely,” the BB governor said while inaugurating the conference of Chief Anti-Money Laundering Compliance officials, generally known as CAMLCO, of all banks at Cox’s Bazaar in the morning. Atiur also said uprising of different militant organisations became a threat for Bangladesh and other countries.
Militants spreading wings
On Monday noon, a police team stopped a motorbike with three riders near Naogaon’s Nachol Bazar for a routine check. As the bike pulled over, one of the three got down and ran away. Cops took the two others to Nachol Police Station where they, finding nothing suspicious, released another. The third man was detained on suspicion and sent to prison. Police had no idea whom they caught. But while going through their records later that day, officials at the station found that the detainee was a militant operative. Alert to the fact, they conducted raids to arrest the man they had released. Finally on Wednesday night, they caught him from his village home in Naogaon’s Manda.
Govt stays away from bank borrowing
The government’s net borrowing from the banking sector turned negative between July 1 and March 12 of this financial year because of surge in the net investment in the national savings certificates and bonds. According to the latest Bangladesh Bank data, the government made no net borrowing from the banking sources in the first eight months and 12 days of the fiscal year 2014-15 but made net repayment of Tk 6,436.26 crore in the period. The government’s net bank borrowing was Tk 7,483.48 crore in the first eight months and 12 days of the FY14.
Cutting fuel oil and LNG dependency the way forward
Power sector leaders recommend reducing the dependence on fuel oil and LNG-based power plants and called for quick decision-making on domestic coal development in order to hit the targeted electricity generation capacity of 40,000MW by 2030. They offered seven recommendations in support of the government’s plan to achieve electricity for all by 2021 and achieving a power generation target of 40,000MW by 2030. Power Division additional secretary and convener of the workshop organising committee, Ahmad Kaikaus, placed the recommendations at the closing ceremony of a two-day workshop last week to address the emerging energy situation.
Telcos link SIM tax dispute
The country’s mobile phone operators have demanded ‘final and satisfactory settlement’ of the SIM replacement tax claim issue before holding the spectrum auction slated for April 30 this year. The telephony firms also sought Finance Minister AMA Muhith’s intervention to quicken the settlement of the long pending tax dispute involving Tk 30.12 billion. “If resolved, this will pave the way for our participation in the upcoming spectrum auction process,” said a letter sent to the ministry of finance (MoF) recently.
Brands’ lack of transparency prompts Rana Plaza tragedy: HRW
The Human Rights Watch (HRW) has identified that the lack of supply chain transparency by the brands was a key reason for not addressing the problems at Rana Plaza before the catastrophe happened. “Brands’ lack of supply chain transparency was a key reason why the problems at Rana Plaza were not addressed before the point of catastrophe,” the New York-based rights watchdog said in an article published in its website on Friday. The HRW also noted that unions and labour rights groups gathered brand labels of the clothes produced in the destroyed factories from the rubble, and demanded that those brands contribute to the compensation fund for the victims and support broader reform measures.
Weekly Review: Bangladesh’s stocks break losing streak
Bangladesh’s stocks returned to green last week, breaking five weeks losing streak as investors are optimistic to end of the ongoing political crisis. This week featured four trading sessions like previous week as the market remained closed on Thursday due to a public holiday on the occasion of Independence Day of Bangladesh. Of those, first and last session closed higher while mid two sessions saw marginal loss. Week-on-week, DSEX, the prime index of the Dhaka Stock Exchange (DSE), crossed the 4,500-mark again and ended at 4,509.30 points, gaining 41.28 points or 0.92 percent.
Blockade puts damper on land ports’ trade
Exports and imports through the country’s most land ports slowed down in January and February last due to the non-stop transport blockade marked by frequent hartal calls and violence. Exports through the land ports were being hampered seriously as transport of goods throughout the country became risky and more expensive than the usual, mainly because of arson and bomb attacks since commencement of the BNP-led 20-party alliance’s blockade on January 6 last.
BBN/SSR/AD-28Mar15-11:52 am (BST)