Dhaka, Bangladesh (BBN) – The BBN has prepared the morning business round up compiling reports, published by different newspapers and news portals in Bangladesh.
BB revises rules for risk management of banks
The central bank has revised its procedures for strengthening the risk-management system for country’s banks, incorporating newer factors of vulnerability, officials said. “We’ve taken the latest initiative to cover new risk areas that may help in ensuring stability in the financial sector,” a senior official of the Bangladesh Bank (BB) told the FE.
Dhaka-Moscow to form joint venture to explore oil-gas
Bangladesh and Russia on Wednesday agreed to form an international joint venture to explore oil and gas at home and abroad, initially in Myanmar’s offshore waters. Bangladesh Petroleum Exploration Company or BAPEX and Russian Gazprom EP International BV will form the joint-venture company. The decision was taken at a meeting in Moscow on the day between a Bangladesh delegation led by the state minister for power, energy and mineral resources Nasrul Hamid and a Russian delegation led by Gazprom’s managing director and chief executive officer Valery Gulev, officials said.
Separate pay scale for state bankers on way
Bangladesh Bank and state-owned financial institutions will get a pay scale different from other public servants after the cabinet on Monday approved the finance ministry’s proposal. The bankers’ pay scale, the discussions for which have been ongoing for six years now, will be slightly higher than other government employees but will have the same number of grades, said a finance ministry official.The government employees’ new pay scale has 20 grades.
Bangladesh’s stocks extend losing streak
Bangladesh’s stocks extended losing streak for the consecutive second day on Wednesday. Meanwhile, the turnover remained sluggish when the trading ended as investors continued to book quick profit. The day had begun with a downward trend both in Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) and it continued till closing of the session. DSEX, the prime index of the DSE, went down by 26.02 points or 0.54 percent to settle at 4,758.43.
Robi, Airtel in merger talks
Robi and Airtel opened talks on a possible merger to become the country’s second largest mobile phone operator after Grameenphone. Malaysia-based Axiata Group, the majority owner of Robi, and India’s Bharti Airtel, owner of Airtel Bangladesh, yesterday released a joint statement on the matter.
Bangladesh retains upward trend in money market
The upward trend of overall turnover in the inter-bank money market continued until Tuesday while the call money rates remain unchanged, officials said. The turnover in the market rose to BDT 52.81 on the day from BDT 52.51 billion of the previous day. It was BDT 52.44 on Sunday. The call rate ranged between 5.25 per cent and 6.50 per cent unchanged against the previous level. But most of the deals were settled at rates varying between 5.50 per cent and 6.0 per cent, market operators said.
NBR to honour 367 taxpayers
The National Board of Revenue will soon award 367 long term and highest taxpayers in the country, marking the sixth Income Tax Day on September 15 and to create awareness among individuals about the importance of paying tax. The board has picked a total of 50 taxpayers from all 10 city corporations, including two as long time taxpayers and three as highest taxpayers from each city corporation for their immense contribution to the national exchequer in the fiscal year 2014-15.
Govt limitations, lack of expertise, tools challenges for RMG sector remediation
Alliance for Bangladesh Worker Safety, a consortium of North American retailers, has said lack of expertise, shortage of compliance equipment and government’s limitations in enforcing building regulations were the challenges for making progress on remediation in the country’s readymade garment sector. ‘There are a few engineers in Bangladesh with the expertise required to support remediation. No manufacturers of fire doors, sprinklers or other fire protection equipment operate in Bangladesh. All equipment must be imported,’ Alliance said in its second annual report published on Tuesday.