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.
Govt eyes $5.20b for dev, deficit financing
The government has set a target of taking US$5.20 billion in concessional assistance from foreign financiers in the upcoming fiscal for bankrolling country’s hefty development recipe and budget deficit. Officials said Monday the target in the next financial year (FY), 2016-17, is 19 per cent up from the $4.36 billion medium and long-term (MLT) foreign loans and grants targeted in the current FY2015-16.
Digital dividends still far off
The ICT sector accounts for less than 0.5 percent of total jobs in Bangladesh even though digital technologies have spread rapidly in recent years, according to a new World Bank report. The rate is close to 1 percent in India and Nigeria and 0.5 percent in Kenya, said the World Development Report 2016: Digital Dividends.
No district budget likely from next fiscal year
The government plans to stop district budget allocation from next fiscal year mainly because of failure in effectively implementing the experimental ones, official sources said. The district budget was introduced in the FY2013-14 with an allocation of Tk1,907 crore for Tangail district on a pilot basis.
BB raises forex limit for overseas visit without visa
Bangladesh Bank on Monday said that Bangladeshi travellers would be allowed to carry the unused yearly limit of foreign currency during their overseas visit without visa. Bangladeshi travellers are allowed to carry maximum $7,000 or equivalent foreign currency in a year.
Bangladesh’s stocks break three-session losing spell
Bangladesh’s stocks returned to green on Monday, after remaining down in the past three days as optimistic investors took position on lucrative issues. Both the Dhaka Stock Exchange, the prime bourse of Bangladesh, and Chittagong Stock Exchange, the port city bourse of the country, experienced upward trend throughout the session.
FBCCI urges China, Japan to invest in various sectors
The country’s apex trade body urged Monday the visiting officials of Yunnan province to establish direct air connectivity between Chittagong and Kunming and make investments in the country’s economic zones (EZs) for mutual benefits of the two countries. The call was made at a meeting between the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and the officials of Yunnan province held at the apex trade body’s office.
Only half of ADP money spent in 10 months
The implementation of the annual development programme in the first ten months of the current fiscal year was only half the revised allocation, mainly due to low spending on the Padma bridge project. According to the Implementation Monitoring and Evaluation Division, Tk 45,108 crore was utilised from the allocation in July-April, which is about 50 percent of the revised allocation of Tk 91,000 crore for the year.
Vietnam’s TP Bank thwarted $1m cyber heist similar to Bangladesh Bank theft
A bank in Vietnam successfully managed to thwart an attempt made by hackers to pull-off a cyber heist similar to the one on Bangladesh Bank in February. The Tien Phong Bank in Hanoi said on 15 May that the cyberattack targeted a vendor that the bank had previously used to connect to Swift’s systems, which the bank has since stopped using.