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.
Bangladesh team heads to Manila for retrieving stolen reserves
A delegation headed by Law Minister Anisul Huq left Dhaka for Manila on Saturday night to expedite efforts with the Philippines to retrieve the entire stolen money. The five-member team, which includes Bangladesh Bank (BB) Governor Fazle Kabir, is scheduled to meet Philippine President Rodrigo Duterte on Monday afternoon in a last-ditch bid for bringing back the entire stolen reserves of Bangladesh.
Paperless company registration pays
Paperless registration and return submission to the Registrar of Joint Stock Company (RJSC) yielded 75 per cent increase in the listing of new companies since 2008. By official count, the number of companies registered almost doubled to 214,618 as of June 2016 from 122,251 in 2008.
China keen to join Bangladesh blue economy
The Chinese government has expressed its interest for the development of the blue economy of Bangladesh. The Chinese Ambassador to Bangladesh, Ma Mingqiang, disclosed his government desire while addressing a discussion on “Reimagining Bangladesh China Relations” held in the city yesterday. Addressing the event, the diplomat said: “Blue economy has huge potential in future and China is interested to join the efforts to flourish this economy.”
Govt moves to discourage food supplement import
The government has started a process to prevent import of substandard and unnecessary food supplements which are rampantly sold at the local market causing concern for public health, officials said. They said that the commerce ministry would soon sit with the stakeholders including food supplement importers, pharmacists, local manufacturers, drug administration and customs authorities to examine supply, demand, quality and other issues related to the products before finalising the decision.
Bangladesh’s stocks end higher for fourth week
Bangladesh’s stocks witnessed yet another vibrant week, extending the gaining streak for the fourth straight week that ended on Thursday supported by financial stocks. Brokers said favorable macro-economic indicators coupled with steady market scenario lured the sideline investors to take fresh position, taking the benchmark index of the premier bourse 14-months high.
Private banks’ bad loans swell on reckless lenders
Private commercial banks’ default loans swelled by about 24 percent in the third quarter of the year from the preceding three months due to governance problems in some of them. On September 30, the private banks’ bad loans stood at Tk 27,688 crore or 5.9 percent of their outstanding loans, which was Tk 22,350 crore or 5.67 percent on June 30, according to central bank statistics. However, most of the private banks’ default loan scenario is good: it is below 6 percent.
Cost modelling for telcos’ data service on cards
The International Telecommunication Union is going to prepare a cost modelling for data service of the country’s mobile phone operators. A team of the ITU will visit Dhaka next month to hold discussions with the Bangladesh Telecommunication Regulatory Commission about preparing the cost modelling for the data service. Telecom regulator officials said the commission had already contacted the ITU, a UN body specialised in telecommunication and ICT-related issues, seeking its help to perform the task.
BTRC to issue pricing guideline for internet
The telecom regulator is set to issue a pricing guideline for operators, especially mobile carriers, for providing internet services. The move comes as the price of internet is not declining at the user level despite significant cuts in bandwidth prices. At the inaugural public hearing held last week, mobile users complained about the higher price of mobile data services.