Dhaka, Bangladesh (BBN)– The BBN has prepared the morning business round up compiling reports, published by different newspapers and news portals in Bangladesh.
State banks’ turnaround in 2014
Four state banks raised their performance last year following close monitoring by the central bank and the finance ministry’s banking division. In 2014, Janata, Sonali, Rupali and Agrani saw their default loan recovery edge closer to the target set by Bangladesh Bank, while their loan growth stayed within the ceiling. The disclosure comes after the central bank recently reviewed the banks’ performance, a source of concern for the government after the International Monetary Fund and the World Bank flagged them as a potential risk to the economy.
EU retailers to raise prices, orders for RMG factories’ remediation
The European retailers will place orders for longer period in higher volume and increase price per unit of products to help their supplier factories in Bangladesh where remediation works are needed to maintain workplace safety, said their platform, The Accord on Fire and Building Safety in Bangladesh. The Accord in a monthly update report on Friday said it had developed a Financing Remediation Guidance for brands (retailers) and factories outlining suggested steps for both parties to ensure remediation that is financially feasible.
FBCCI questions IMF condition of tagging VAT against ECF
The country’s business community continues to put pressure on the government to have VAT (value-added tax) Act 2012′ amended to make it ‘more business and compliance-friendly’, officials said. The leaders of the apex trade body, Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), will meet finance minister AMA Muhith today (Sunday) at his Secretariat office to discuss about the amendment of the law as the International Monetary Fund (IMF) is ‘poking its nose’ into the matter.
Climate risk looming large over Bangladesh: WB
Bangladesh is in the great risk of hotter local temperatures, greater water challenges, higher cyclone risks, and lower crop yields due to the negative impact of climate change, the World Bank has warned. Due to the risks for Bangladesh in a hotter world, Groundwater stress will also increase, especially in coastal areas of the country where salinity already affects 20 million people. While many impacts of climate change are already evident around the world, the worse is still to come, said a report of World Bank. Having a clear picture of future risks is essential to spur action now on a scale that matches the problem.
British Parliament lauds BB governor for women empowerment
On the eve of International Women’s Day 2015 on March 8, the Rt Hon Caroline Spelman, the Member of Parliament (MP) for Meriden Constituency in the West Midlands, United Kingdom, mentioned the success of mobile banking for garment workers in Bangladesh during a debate in the British Parliament on March 5 last. As a testament to celebrate International Women’s Day, with a theme for this year ‘Make It Happen’, Rt Hon Spelman said: “It is good to mention men who have advocated on behalf of women, so let me mention the well-deserved accolade that the central banker for Bangladesh, Dr Atiur Rahman, received for his initiative to enable mobile phone banking for garment workers in Bangladeshi factories. Such practical initiatives make a big difference.”
ISPs to get uniformed licence
The country’s telecom regulator has drafted new service guidelines for the internet service providers which will bring different types of ISPs under a uniformed category to ensure better service, said officials concerned. Bangladesh Telecommunication Regulatory Commission officials said the new guidelines would help the commission ensure improvement of the ISPs’ service quality.
BBN/SSR/AD-08Mar15-11:39 am (BST0