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.
Develop bond market to finance infrastructure projects: experts
Bangladesh has to create a vibrant corporate bond market immediately if it wants to go to the next level of development, experts said yesterday. Banks get deposits for short-term — three months to 12 months — but give loans for long-term, which is seven years or more. This is creating an asset-liability mismatch and liquidity crisis in the industry, they said.
Taka bond ready to raise $10m from London mkt
Bangladesh is going to float a taka-denominated bond for the first time on the London Stock Exchange next month to raise funds for the local private sector, officials said on Saturday. The International Finance Corporation (IFC), a sister concern of the World Bank, would float the taka-linked bond equivalent to US$10 million on the London bourse in the first phase, the global lending agency confirmed.
More government support sought for SME sector
The government should put more emphasis on the Small and Medium Enterprises (SMEs) industry as the sector was the foundation for country’s economy, said speakers at a seminar on Saturday. They said more emphasis on SME industry would create more jobs and help the marginal people of the country.
BB seeks clarification from 49 banks
The central bank of Bangladesh has sought explanation from 49 banks for the alleged harassment of their customers in opening fresh accounts, officials said. The Bangladesh Financial Intelligence Unit (BFIU) of central bank has been informed that banks harass customers in the name of KYC (know your customer) form while opening new accounts.
Tough times for the apparel industry: BGMEA president
Fifty-nine garment factories have been shut and 25,900 workers have lost jobs in the last seven months, BGMEA President Rubana Huq said. “Most of them were small and medium enterprises and they failed to maintain compliance strictly and pay their workers under the new wage structure,” the leader of the Bangladesh Garment Manufacturers and Exporters Association said on Thursday.
Weekly review: Bangladesh’s stocks end flat after volatile trading
Bangladesh’s stocks ended almost flat in the outgoing week that ended on Thursday as investors mostly followed cautious stance amid ongoing volatile market trend. Week on week, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 1.01 points to close at 4,772.
Government plans $500m infrastructure fund
The government is planning to create a $500 million infrastructure fund to ease financing of projects under the public private partnership programme. The proposed fund will primarily be financed by the private sector with the initial seed money worth $100 million or 20 per cent of the total funds to be availed from government sources.
Farm credit disbursement picks up
Farm credit disbursement grew by nearly 2.0 per cent in the first quarter (Q1) of fiscal year (FY) 2019-20, as demand for such loan started generating after floods. Disbursement rose to Tk 35.55 billion from July to September of FY ’20 from Tk 34.94 billion in the same period last fiscal, according to the latest central bank statistics.