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.
EPB to add service sector to export earnings
Export Promotion Bureau is going to include service sector export in the country’s overall export value to find, what officials say, a holistic picture of foreign currency earnings of Bangladesh. According to Bangladesh Bank data, in the last fiscal year Bangladesh earned $3.19bn from service sector exports with 12.85% rise from the previous year’s $2.83bn.
ACC’S SCAM CASES: Sonali, BASIC ex-MDs fly abroad, petty bankers behind bars
The Anti-Corruption Commission did not take any further action after filing cases against three former managing directors of three state-owned banks while the commission arrested over 200 petty bankers in five months on graft charges. Of the trio, BASIC Bank Limited managing director Kazi Fakhrul Islam and Agrani Bank Limited managing director Syed Abdul Hamid were sacked for their alleged involvement in irregularities while Sonali Bank Limited former managing director Humayun Kabir completed his tenure before graft allegation was brought against him.
BB goes on big buy of dollar
The central bank has gone on a big buy of the US dollar from banks to prop up the inter-bank foreign-exchange market amid a higher inflow of the greenback ahead of Eid-ul-Azha. Officials said under the latest interventional move, the Bangladesh Bank (BB) bought US$100 million direct from six commercial banks Thursday "to protect the interests of exporters and migrant workers" by keeping stable the exchange rate of the local currency against the greenback.
BoP surplus swells
The balance of payments surplus swelled by more than 15 percent last fiscal year to $5.04 billion thanks to lower import growth than export and an increase in foreign aid. However, Bangladesh Bank projects the surplus will be eroded by half this fiscal year, as the investment scenario is expected to pick up.
Weekly review: Bangladesh’s stocks edge up, turnover fall
Bangladesh’s stocks return to green last week that ended on Thursday, after facing mild correction in the week before, as the bargain hunters took position on sector specific stocks amid optimism. The week witnessed four trading sessions instead five as the market was closed on Monday due to National Mourning Day. Of them, first three sessions posted marginal gain, while last one saw mild correction. DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 10.72 points or 0.23 percent to finish the week at 4,585.08 points over the previous week.
Govt offers partnership with private sector to tap Bay resources
The government offers partnership with the private sector to explore hydrocarbons beneath the Bay of Bengal and huge marine resources in the country's extended economic zone. Prime Minister's Adviser on energy, power and mineral resources Dr Tawfiq-e-Elahi Chowdhury Saturday urged the private sector to come forward to partner with the government particularly for exploring oil and gas from offshore reserves.
Cost of exports to Germany soars after cargo ban
The cost of shipments to Germany, Bangladesh's second largest export destination, has increased at least 5 cents per kilogram for suspension of direct cargo flights from Dhaka to Berlin for security reasons. Germany's federal civil aviation authority imposed a ban on direct flights from Dhaka to Berlin on June 27 citing Bangladesh to be a 'high risk' country due to poor security at Hazrat Shahjalal International Airport.
Most listed banks make higher net profits in H1
Nineteen out of the 30 banks listed with the Dhaka Stock Exchange made higher net profits in the first half of this year compared with that in the same period of last year. Ten other banks made lower net profits during the January-June period of this year compared with the same period last year, while ICB Islami Bank incurred higher losses. The aggregate net profit of the listed banks increased by 7.44 per cent to Tk 2,809.56 crore in the January-June period of this year compared with that of Tk 2,615 crore in the same period a year ago.
BBN/SSR/AD