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 agrees to borrow from World Bank’s hard-term fund
The World Bank has finally succeeded in persuading the government to take costly credits from the former’s ‘Scale-up Facility’ fund and the Bangladesh Bank (BB) is going to be one of the recipients, officials said Saturday. Bangladesh recently agreed to borrow the high interest fund after the Washington-based lender had series of meetings with the government policymakers to make its case on lending from the Scale-up Facility (SUF).
Car sales go up on higher demand
Sales of reconditioned cars rose in fiscal 2015-16 amid increasing demand from the middle-class, sellers said. “The market improved further last fiscal year. It appears that political stability has played a big role in boosting the demand for cars,” said MA Hamid Sharif, president of Bangladesh Reconditioned Vehicles Importers & Dealers Association (Barvida).
Big floods likely in Aug
The ongoing floods expanded into one-fourth of the country’s districts, continuing to increase the sufferings of affected people as the water level on the country’s major rivers continued to rise. As floodwaters on major rivers including Jamuna and Padma continue to rise, Water Development Board forecast that Bangladesh is likely to see big floods in early August. Disaster management and relief minister Mofazzal Hossain Chowdhury Maya on Saturday said that about 14.75 lakh people were affected by the floods at 16 districts.
Low-cost fund needed to relocate RMG accessory factories
Bangladesh Garments Accessories and Packaging Manufacturers and Exporters Association tells the Dhaka Tribune in an exclusive interview. In order to keep up compliant issue, the manufacturers of garment accessories need low-cost fund to relocate factories outside the capital, BGAPMEA president Md Abdul Kader Khan told the Dhaka Tribune in an interview.
Bangladesh’s stocks return to red after three weeks
Bangladesh’s stocks returned to the red last week that ended on Thursday, after remaining upbeat in the past three weeks, as investors were cautious throughout the week amid ongoing earnings session. Meanwhile, Bangladesh Bank (BB) last week unveiled ‘cautiously accommodative’ monetary policy statement (MPS) for the July-December period of 2016, targeting higher economic growth, but lower inflation.
BB to focus on small, farm loans to meet credit target
Bangladesh Bank will put more emphasis on small and medium loans, including agricultural credit, to meet higher target for private sector credit growth. The central bank will announce a new agriculture loan policy today for the current fiscal year where some new steps will be taken so that the real clients of the farm and non-farm sectors get loans.
No safety committee in 66pc RMG factories
A government survey found that there was no safety committee at sixty-six per cent of the readymade garment factories and no participation committee at fifty-two per cent of the RMG units in the country in violation of the labour law. In 2013, the government included the provisions of mandatory safety committee and participation committee in the amended labour law.
Tourism Board moves to regain foreigners’ confidence
Bangladesh Tourism Board (BTB) is going to undertake a ‘trust building’ program to bring back the tourism sector from the brink, which was hit hard by the July 1 Gulshan cafe terror attack. Since the deadly attack, which killed 22 people, mostly foreigners, international visitors have been cancelling their scheduled trips in Bangladesh. “Under this situation, we have taken a move to regain the confidence of the foreigners,” said Nikhil Ranjon Ray, a joint secretary of the BTB, while talking to the Dhaka Tribune.