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 nears recovery of $81m stolen funds from Philippines
The Bangladesh Bank (BB) is a step closer to recovering a portion of the US$81 million fund stolen by hackers from its account at the Federal Reserve Bank of New York. Anti Money Laundering Council executive director Julia Bacay-Abad said on the sidelines of the 100th anniversary celebration of the Philippine National Bank (PNB) a lower court in Manila already granted its petition for civil forfeiture filed last May, reports the Philippines Star.
Pvt companies’ CSR to come under scanners
The government moves to regulate freestyle corporate social responsibility (CSR) activities by private companies into right direction with specific guidelines, sources said. Finance Minister AMA Muhith has kick-started the move, dispatching a letter that seeks suggestions from research think tanks, chamber bodies and the association of bankers by August 01 for preparing a comprehensive policy on CSR.
China, Japan provide new hope for garment makers
Garment exports to China and Japan, two new markets, soared in fiscal 2015-16 -- the strongest sign yet of the growing stature of Bangladesh's apparel sector in global trade. Last fiscal year, garment exports to Japan stood at $774.47 million, up 18.68 percent year-on-year, according to data from the Export Promotion Bureau.
BB seeks Tk 4,528cr to pay export subsidies
The Bangladesh Bank has sought Tk 4,528 crore from the government for export subsidy for the first quarter of the current fiscal year to September and as outstanding subsidy payable to merchandise exporters under 13 categories. BB last week in a letter to the finance ministry said subsidies amounting to Tk 2,730 crore were necessary for the July-September period, and the remaining Tk 1,798 crore as outstanding carried forward over the last five years.
Tk1,091cr power transmission project likely to get Ecnec nod today
The government is going to undertake a project to evacuate power from the upcoming 1200MW Matarbari coal-fired power plant in Cox’s Bazar to the load center located at Madunaghat in Chittagong. The three and a half years project, which is expected to begin in July next year, will be implemented at a cost of around Tk1,091 crore. Under the project, a-92km long 400kv transmission line from Matarbari to Madunaghat would be constructed.
Bangladesh’s stocks inch down for second day
Bangladesh’s stocks ended slightly lower on Wednesday for the second running session as a section of investors continued on profit booking mood. The market opened with a downward note, losing around 21 points within first hour of trading, but rest of the session showed some buying spree, recovering most of the losses, eventually ended slightly lower.
Banks’ share mkt exposure deadline ends today
Almost all banks have complied with the share market exposure regulations, as the deadline in this regard ends today (Thursday), officials said. Three banks are set to receive approval from the central bank in this connection today after completing all formalities, they added.
Sacked Agrani Bank MD involved in Hallmark scam
The Anti-Corruption Commission found involvement of recently sacked Agarani Bank Limited managing director Syed Abdul Hamid and some officials of the bank in much-talked about Hallmark loan scam. ‘An investigation team of the commission found that the bank officials were involved in non-funded part of the Hallmark-Sonali Bank loan scam,’ a director of the commission said.
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