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.
HSBC announces 10pc interest rebate for good borrowers
The central bank has warned that it will not spare any bank if it fails to follow its directive to pay a 10 percent rebate on realised interest to all good borrowers. “Every bank must give incentives to its borrowers with regular payment records,” SK Sur Chowdhury, deputy governor of Bangladesh Bank, said at a programme organised by HSBC at the Westin hotel in Dhaka to recognise its good clients. HSBC is the first bank in Bangladesh to announce benefits for its customers to comply with a BB order.
Reserve Theft: Dhaka to persuade int’l bodies to blacklist Manila
Dhaka would persuade multilateral organisations like Financial Action Task Force and Egmont Group to ‘blacklist’ Manila as the latter allowed laundering of the stolen reserve fund of the Bangladesh Bank in February. Officials said that Dhaka had strong grounds for raising the demand before the multilateral bodies as Manila had made no steps to stop the transfer of $81 million despite appeals from the Bangladesh Bank. Since 2000, the Paris-based task force has been blacklisting countries for not cooperating in the global fight against money laundering and terrorism financing.
Padma Bridge rail uncertain
Running of trains over the Padma Bridge on the inaugural day has remained in doubt as the Bangladesh Railway (BR) is yet to start construction of the rail tracks due to absence of an accord with the Chinese EXIM Bank on its Tk 247.49 billion credit. Bangladesh was supposed to start construction of the rail tracks by this year as it signed US$ 3.14 billion commercial contract with a Chinese company on August 08 after negotiation under the government- to-government arrangement.
EoIs invited to buy rights to Chevron assets
The government has invited expressions of interest (EoIs) from prospective international consultancy firms to calculate the value of sub-surface assets in three gas fields, currently under the operation of Chevron Bangladesh, for buying the rights to those assets. “We have already invited expressions of interest (EoIs) from three companies who have worked on gas sector with Petrobangla,” Bangladesh Gas Fields Company Limited (BGFCL), a subsidiary of the state-owned Petrobangla, Managing Director Md Kamruzzaman told the Dhaka Tribune yesterday.
Payment of VAT, SD: Govt to lend Tk 1,000cr to Petrobangla
The government has decided to provide state-run Petrobangla with Tk 1,000 crore in credit to enable it to pay a part of outstanding amount in value-added tax and supplementary duty to the National Board of Revenue. Petrobangla has been asked to use the money to pay its outstanding VAT and SD applicable on the gas supplied by the international oil companies in February- October this year, according to a letter issued by the Finance Division on December 6.
DSEX crosses 4,900-mark after 23 months
Bangladesh’s stocks closed higher on Wednesday with prime index of the major bourse crossing the 4,900-mark after 23 months as optimistic investors took position on large-cap stocks. Brokers said the market finished higher as enthusiastic investors were active on large-cap stocks throughout the session amid optimism, taking the prime index of the major bourse to a 23 months high level.
Atiur for common strategy for Bay of Bengal region
Former governor of the Bangladesh Bank (BB) Atiur Rahman has urged the policy makers to develop a common strategy for working towards sustainable economic growth for the benefit of poor and future generations in the Bay of Bengal region. The recommendation was made at a two-day long conference titled ‘Indo-Asia Connectivity for Shared Prosperity’ held at Oberoi Grand Hotel in Kolkata on Wednesday.
More SoEs to offload shares on bourses
Finance Minister AMA Muhith assured Wednesday some steps would be taken soon for offloading more stakes of state-owned enterprises (SoEs) on the bourses to stimulate the stock market. He underscored the need for expanding the size of stock market by listing more and more companies to rope in investors.