Dhaka, Bangladesh (BBN)- The BBN has prepared the morning business round up compiling reports, published by different newspapers and news portals in Bangladesh.
4 S Asian nations agree on multi-modal transport for trade
Senior officials of four South Asian countries including Bangladesh have decided to explore the possibility of using multi-modal transport to meet commercial as well as tourist needs. The decision was taken at the second joint working group (JWG) meetings on Sub-Regional Cooperation between Bangladesh, Bhutan, India and Nepal (BBIN) on Water Resources Management and Power/Hydropower and on Connectivity and Transit were held in New Delhi on January 30-31. The next meeting of the JWG would be held in the second half of 2015 in Bangladesh, an official joint statement said Saturday.
Hundi traders involved in human trafficking
More than 0.12 million job-seekers were smuggled out of the country in last one year through sea routes. Human traffickers, many of them are also hundi traders, have found the sea route the easiest and safest way of carrying out their nefarious activities, officials concerned have claimed. On an average, ten thousand people were trafficked to Malaysia and Thailand from Cox's Bazar every month, they said, adding that a number of human traffickers got involved in money laundering or 'hundi' business.
Strict rules for large loan restructuring
Bangladesh Bank has now followed through on its decision to allow restructuring of large loans until June 30 with a watertight guideline for banks to ensure no further defaults on the loans. Political turmoil for the best part of last fiscal year has damaged many large borrowers' business and their debt servicing capacities.
RMG factory owners to enjoy 4-yr deferred LC payment
Readymade garment factory owners are going to enjoy four-year deferred letter of credit payment facility in importing capital machinery and five-year repayment facilities for foreign loans in place of existing one year. According to a recent decision of the Board of Investment and Bangladesh Bank, the garment manufacturers who want to get the opportunity of opening deferred LC for the period of three years more, will have to submit applications to the BoI.
Bangladesh to introduce policy for rewarding good borrowers
Bangladesh Bank (BB) has decided to introduce a rebate policy for rewarding regular borrowers, the BB governor said on Thursday. “I instructed the BRPD (Banking Regulation and Policy Department) department on Wednesday to formulate a policy in this connection,” BB Governor Atiur Rahman told reporters while formally announced the next monetary policy statement (MPS). The BRPD is now making preparation to formulate the policy, a BB official told BBN in Dhaka.
Bangladesh becoming a hub for non-traditional garment products
Bangladesh has become a hub for technical and non-traditional garment products as international retailers are coming with an increasing number of work orders. Bangladesh is the second largest garment exporter after China in woven and knitwear segments. Not only that, Bangladesh also supplies military uniforms, travel bags, backpacks, sleeping bags, tents, outdoor jackets, jute slippers and other jute goods. “Currently, Bangladeshi factories, especially the ones in export processing zones, are performing well in export of non-traditional items,” an official of Chittagong EPZ said, asking not to be named. Bangladeshi factories supply uniforms for the British army and French navy, the official said.
BBN/SSR/AD-01Feb15-9:09 am (BST)