File photo: debt.org
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.
Tk 96,986cr in loans defaulted by 8,238 companies: minister
Finance Minister AHM Mustafa Kamal on Wednesday informed Parliament that 8,238 companies defaulted in repaying Tk 96,986.38 crore bank loans until November 2019. He submitted a list containing names of 8,238 companies that defaulted in repaying the loans replying treasury bench MP Ahsanul Islam.
Banking sector poised to derail growth momentum for Bangladesh economy
The current vulnerable state of the banking sector steeped in default loans poses the biggest danger to sustenance of Bangladesh’s tremendous growth momentum, said the International Monetary Fund. Bangladesh logged in 8.15 per cent GDP growth last fiscal year — after three consecutive years of more than 7 per cent expansion — and is on track to surpassing the number this year
Freight charges fly by a third
Shipping freight charges have jumped by 33 per cent to $200 after the implementation of new international carbon rule. The International Maritime Organisation, or IMO, introduced the global sulphur cap rule, which came into force from January 1, 2020.
BB unveils long-term capital mkt plan soon
The central bank of Bangladesh is gong to announce a long-term comprehensive plan soon aiming to support sustainable development of the country’s capital ailing market. Under the plan, the Bangladesh Bank (BB), the country’s central bank, will provide both liquidity and policy supports to the banks along with other capital market intermediaries, according to officials.
Bangladesh’s stocks rebound after a day
Bangladesh’s stocks rebounded on Wednesday after a single day halt amid profit-taking move of shareholders. The broad index, DSEX closed at 4440.29 points on Wednesday with a gain of 32.18 points or 0.73 per cent.
BB proposes Tk 10,000cr fund for stocks
The Bangladesh Bank has submitted to the finance ministry a set of proposals, including formation of a Tk 10,000-crore refinancing fund in line with some stockbrokers’ demand to stabilise the ailing capital market. As per the BB proposal, the fund would be managed by the central bank directly and the banks, merchant banks and brokerage houses would get fund from the BB at the interest rates between 3 per cent and 5 per cent.
DITF: Jute goods in high demand
Jute goods are in high demand at the month-long Dhaka International Trade Fair (DITF), as buyers prefer products made from the natural fibre than leather items or goods from artificial materials. Visiting stalls and pavilions at the fair, people were found preferring jute products to leather goods as customers said prices of the latter was higher despite being produced locally.
Govt to focus on financing next planning blueprint
The government and donors will gather in the capital next week in a traditional parley to discuss national and global agenda, officials said on Wednesday. The Bangladesh Development Forum (BDF), scheduled for January 29-30, will dwell on the implementation of the upcoming 8th five year plan and the Sustainable Development Goals, known as SDGs.
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