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’s banks asked to freeze accounts of terrorists
The central bank of Bangladesh has asked all banks to freeze accounts if they belong to those whose names have come up in the media for alleged involvement in terrorism and terror financing. The commercial have also been instructed to submit information on all such accounts to the Bangladesh Financial Intelligence Unit (BFIU) of the Bangladesh Bank (BB).

Workers abroad face hard time
Mizanur Rahman, a mason at a construction firm in Saudi Arabia, is worried about losing his job. His employer has recently expressed inability to continue some of the ongoing projects due to financial crisis. The lone breadwinner of a five-member family from Faridpur cannot even begin to imagine what would happen to his family if he loses the job.

EZ factories can maintain forex accounts with banks
Bangladesh Bank has said that the industrial units which would be set up in the economic zones would be allowed to maintain foreign currency accounts with authorised dealer branches and off-shore banking units (OBU) of scheduled banks. The BB issued a circular to authorised dealer branches of all banks on Tuesday saying that proceeds from exports by EZ entities would be allowed to be retained and used through such foreign currency accounts.

Agrani Bank DMD suspended
Agrani Bank Deputy Managing Director Mizanur Rahman, who is now on bail in a corruption case, has been suspended. An official circular was issued by the finance ministry on Tuesday in this connection. According to the circular, Mizanur has been removed due to a case filed against him with Anti-Corruption Commission (ACC) that is now pending.

Oil import costs to soar under govt-to-govt deals
Bangladesh Petroleum Corporation’s cost on premium will escalate by at least 52 percent to 71 percent for importing petroleum products under government-to-government deals instead of open bidding. The premium, which is the cost of shipping petroleum products and includes freight charges and insurance, was fixed at $4.4 per barrel for gas oil and $5.4 for jet fuel imports during the January-June period under government-to-government agreements.

Bangladesh’s stocks end flat in green
Bangladesh’s stocks ended in flat green zone on Wednesday, with improving turnover value, as investors were active both sides of trading fence. Analysts said the a section of investors continued on profit taking mood, while some investors were active on sector specific stocks, sending the market in a flat green zone. DSEX, the prime index of the Dhaka Stock Exchange (DSE), finished at 4,569.28 points, gaining 1.60 points of 0.04 percent over the previous day.

United Group hastily pulls back from Islami Bank board
Hazrat Shahjalal (RA) Industrial City, a proposed company of power giant United Group, has left the post of directorship of Islami Bank within just one and a half months of assuming the position. The withdrawal of directorship from the board of Islami Bank by selling off its entire shareholdings so soon has blindsided many, including the group’s nominated director.

New watchdog to nose out MNCs’ profit shifting
Government’s revenue authority is raising a new watchdog team styled ‘resource pool’ to nose out profit shifting by multinational companies from Bangladesh illegally. Officials said the National Board of Revenue (NBR) is forming the strong surveillance team with best of the bunch of taxmen under the transfer-pricing law to check the flight of funds.

Draft deal on $184m Chinese loan for six vessels okayed
The government has finally completed the draft loan agreement on procuring six feeder vessels at a cost of $184.50 million under a Chinese preferential buyer’s credit after nearly one year of getting the go-ahead from the cabinet committee on economic affairs. A meeting held last week at the Economic Relations Division of the finance ministry okayed the draft deal to be inked next month with the Chinese authorities, a top finance ministry official said on Wednesday.

BBN/SSR/AD