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.
Exports to northeast India may fall for transshipment
Bangladesh’s exports to Tripura through Akhaura land port might fall after the government granted transhipment facility to India and the recent improvements in infrastructure on the Indian side, local businesspeople said. India was reliant on imports from Bangladesh for a number of products, said Monir Hossain Babul, general secretary of Akhaura Clearing & Forwarding Agents’ Association.
Rooppur NPP project to get site license today
Bangladesh Atomic Energy Commission is scheduled to obtain a provisional license from the Bangladesh Atomic Energy Regulatory Authority today to construct the country’s first nuclear power plant at Rooppur. The license would enable BAEC to start the construction works for the power plant at Rooppur in Pabna, science minister Yeafesh Osman told New Age on Monday.
Greenfield FDI doubles in 2015
The value of greenfield (GF) foreign direct investment (FDI) in the country jumped almost double following a spur although the number of announced projects declined. According to available figures, greenfield foreign investment in Bangladesh found a surge last year mainly due to the announcement of two proposed large-scale electricity projects by Indian conglomerates Adani and Reliance. Total worth of the two projects is US$3.0 billion.
Study: High interest rate a key barrier to remediation in RMG factories
High bank interest rates against loans and lack of financial literacy have got in the way of accomplishing remediation work in Bangladesh’s garment sector, according to a study report. The report “Remediation financing in Bangladesh’s readymade garment sector: an overview” launched yesterday cited interest rates ranging from 9% to 18% as a barrier to executing remediation.
Bangladesh’s stocks extend losses for third day
Bangladesh’s stocks extended their losing spell for the third session in a row on Monday as most of the investors were on selling mood amid reduced trading time in Ramadan. The market opened positive and key index of the premier bourse advanced nearly 4.0 points within the first 30 minutes of trading, but rest of the session fell steadily, eventually ended lower.
BB cautions banks against extravagance
The central bank Monday warned commercial banks against non-compliance with its instructions on their branch establishment, relocation and decoration expenditures that add up to their overhead costs. Go by the existing provisions properly, the Bangladesh Bank (BB) said in its warning that came against the backdrop of higher expenditure involved in establishing, relocation and decoration of branches by some banks.
Sonali, Agrani asked to form search bodies to pick MDs
State-owned Sonali and Agrani bank have been asked to form separate search committees to pick their new Managing Directors. Finance Ministry has recently instructed the board of the two banks through issuing letters in this regard. On the other hand, another state-owned Rupali Bank’s Managing Director M Farid Uddin may get another extension, according to a source in the Finance Ministry.
Budget to put pressure on low-income people: TIB
The Transparency International Bangladesh has called for reconsidering the proposed budget, saying it has slyly passed on the tax burden to lower income groups and the general people in its bid to reach the revenue generation goal. If the proposals are approved, it will expand socio-economic inequality and stoke instability, said the local chapter of the Berlin-based global anti-corruption movement in a statement on Sunday.