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.
Stressed loans create concern for Bangladesh banking sector
A load of rescheduled and restructured loans causes concern for the credit-risk management of country’s banking industry, according to the central bank of Bangladesh. The stressed advances ratio rose to 16.1 per cent in the last calendar year (CY) 2015 from 13.1 per cent a year ago mainly due to higher percentages of rescheduled and restructured loans. The stressed advances cover classified, rescheduled and restructured loans in the banking industry of Bangladesh.
Govt to redefine non-concessional loan to ease risk of debt burden
The government has decided to increase the grant elements of non-concessional loan to ease the risk of debt burden of Bangladesh. According to the Economic Relations Division (ERD) proposal, the government is considering new non-concessional loan amount as its grant element to fix below 35%, which will be placed on the standing committee on non-concessional loan for approval. At present, the amount of non-concessional loan as grant element was above 25%.
Robi-Airtel merger gets PM’s approval
Prime Minister Sheikh Hasina on Sunday gave a go-ahead to the much-talked-about merger proposal of Robi-Airtel, paving the way for the formation of the country’s second largest mobile operator. The merger fee will be Tk 100 crore. A telecom division official said the prime minister endorsed all the clauses and conditions set by the division for the amalgamation of the two operators.
APG rejects appeal to reconsider meeting cancellation
The Asia/Pacific Group on Money Laundering has rejected an appeal to reconsider the cancellation of the annual general meeting of the group in Dhaka scheduled for the past week. Officials said that finance minister AMA Muhith made the appeal to the group co-chairs after the international meeting on money laundering was cancelled on July 12 amid the fear of extremist attacks.
Bangladesh’s stocks edge up amid choppy trading
Bangladesh’s stocks closed slightly higher on Monday, after witnessing negative trend in the previous session, as optimistic investors went on late hour buying spree on large-cap stocks. After witnessing volatility, DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), finished at 4,533.71, advancing 8.36 points or 0.18 percent, as investors went on last hour buying spree amid optimism.
Proposed gas tariff hike irrational, says MCCI
Terming the proposed gas tariff hike as ‘inconsistent and irrational’, the Metropolitan Chamber of Commerce and Industry, Dhaka (MCCI) called for reconsideration of the proposal on Monday through the BERC (Bangladesh Energy Regulatory Commission). The state-owned distributors had sent a proposal of making substantial hike in power and gas tariffs to the BERC.
BJMC to get Tk 260cr for raw jute purchase
Bangladesh Jute Mills Corporation has been given a conditional loan package of Tk 260cr to purchase raw jutes for the state-run jute mills. The finance ministry approved the loan on July 31 setting some conditions for utilisation of the money and said the BJMC would not be able to spend the money for other purposes except the purchase of raw jute for the mills, said a BJMC press release.
Flood situation worsens further
The government is yet to think of deploying the army men in the rescue and relief operation, although flood has claimed 21 lives and marooned 3.1 million people in a week. But the flood situation is worsening gradually with inundation of fresh areas due to sharp increase of waters in the country’s major rivers, triggering an apprehension of severe flood.