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.
Soaking up idle money to stop misuse: Kamal
Finance Minister AHM Mustafa Kamal defended on Wednesday the government’s move to transfer idle money of state entities to the public exchequer, saying that it was intended to stop misuse of fund. “Many state-owned entities do not utilise funds rationally,” he said.
Hall-Mark may get a lifeline
In the most absurd turn of events, Finance Minister AHM Mustafa Kamal yesterday said steps are on way to defibrillate the disgraced Hall-Mark Group that made off with about Tk 3,000 crore from Sonali Bank. Although he remained circumspect about the steps being taken to resuscitate the duplicitous business group, Hall-Mark’s recent moves suggest it is pushing to avail the Bangladesh Bank’s relaxed loan rescheduling policy for defaulters.
IMF for enforcement of regulations properly in Bangladesh
The International Monetary Fund (IMF) has emphasised enforcement of regulations properly to ensure stability of the financial sector in Bangladesh. The Washington-based lender also recommended that the policymakers take effective measures to further improve the financial system if the country wants to reach the next stage of development.
UltraTech to sell Bangladesh’s unit to HeidelbergCement
UltraTech Cement Limited, a major market player in India’s cement market, is in the final stage of selling its stake in Emirates Cement Bangladesh that produces cement under the brand name of ‘UltraTech Cement’. UltraTech Cement Middle East Investments Limited, a subsidiary of UltraTech Cement Limited, owns the cement maker in Bangladesh.
Bangladesh’s stocks keep losing streak for six days
Bangladesh’s stocks extended the losing streak for the six consecutive sessions on Wednesday worried investors continued on selling binge on large-cap shares. DSEX, the prime index of the Dhaka Stock Exchange, went down by 20.68 points or 0.41 per cent to settle at six weeks low at 4,986.
Regulatory lapses, lack of investors’ confidence major factors behind tumbling stocks: experts
Stocks keep losing amid dearth of quality stocks, ineffective roles of market regulators, lack of investors’ confidence and shortage of liquidity, stock market analysts have said. They say share prices in junk companies are rising abnormally, while big fundamental stocks like Grameenphone are pushing the market down.
Stocks operators to meet with BSEC on Thursday
Top management of both stock exchanges is scheduled to meet with their regulator today (Thursday) to review overall market situation. The board of directors of the Dhaka Stock Exchange (DSE), Chittagong Stock Exchange (CSE) and leaders of DSE Brokers Association will hold a meeting with the Bangladesh Securities and Exchange Commission on the day.
NBR to integrate database with power cos
The National Board of Revenue would integrate its electronic taxpayers’ identification number (e-TIN) system with the online billing systems of power distribution companies to enforce the provision of mandatory TINs for electricity connections in urban areas across the country. The revenue board in the budget for the current fiscal year 2019-2020 made TINs mandatory for getting and maintaining electricity connection by all types of people, including house owners and businesspeople, in city corporations, cantonment boards and municipalities in district headquarters.