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.
Cash crisis grips most banks
A prevailing cash crisis in the country’s banking sector is preventing many large and small-scale banks from providing loans. Several managing directors of the banks have said the sector is passing the most difficult time, as neither substantial deposits are being made, nor loan collection is increased.
July-March tax collection growth lowest in decade
The overall tax collection fell short of the target by over half a trillion taka in the last three quarters of the current fiscal year. The total tax revenue collection, however, registered a 7.11 per cent growth during the July-March period of FY 2018-19 over the same period of the last fiscal, according to provisional official figures.
Defaulters have the last laugh
Instantly is doing the same thing over and over again and expecting different results, the influential physicist Albert Einstein once said. And this quote comes to mind when one glances through the Bangladesh Bank’s latest policy for defaulters.
India, Poland become new billion-dollar export markets for Bangladesh
Bangladesh has achieved two new billion-dollar export markets in the current 2018-19 financial year in addition to the existing nine such markets. The export earnings from India and Poland topped one billion US dollars in the first 10 months of the FY 19 because of the extraordinary performance of the country’s apparel sector.
Bangladesh’s stocks extend losing streak for two weeks
Bangladesh’s stocks maintained the losing streak for the two consecutive weeks that ended on Thursday due to the lack of investors’ confidence. The week saw five trading days as usual. Of them, first four sessions closed lower while last one ended marginally higher, according to market operators.
Apparel export to US thrives on trade war
Apparel exports to the US, Bangladesh’s single largest export destination, jumped 15.57 percent to $1.63 billion in the first three months of the year, which the exporters and experts attributed to the ongoing trade war between the US and China. Apparel was not in the list of the items subjected to US President Donald Trump’s retaliatory 25 percent duty last year, but in the updated list that came out recently garment was included.
1,120 Accord-listed RMG units behind schedule in remediation
Some 1,120 out of 1,610 Accord-listed readymade garment factories remained behind the schedule in remediating safety hazards, according to a quarterly aggregate report of Accord on Fire and Building Safety in Bangladesh published on Friday. The report showed that the factories inspected under the Accord, a platform of European buyers and retailers, made overall 90 per cent progress in fixing fire, electrical and structural safety faults.
Independence of central banks is under threat from politics
Critics of economics like to say that its abstract theories lack real-world pay-offs. There is a glaring counter-example: the global rise of central-bank independence in the past 25 years, reports The Economist.