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.
Cumulative written-off bank loans now Tk 414.37b
Written-off loans continued to rise until March, 2016 as the banks cleaned their balance sheets by reducing default loans, officials said. “The rising trend of written-off loans indicates lack of due diligence while sanctioning credits,” a senior official of the Bangladesh Bank (BB) told the FE Monday.
Bangladesh to unveil growth supportive monetary policy Tuesday
The central bank of Bangladesh is set to unveil its first half-yearly monetary policy on Tuesday aiming to achieve maximum economic growth through boosting investment particularly in productive sectors. Bangladesh Bank (BB) Governor Fazle Kabir will announce the monetary policy statement (MPS) at 11 am on the day for the July-December period of the fiscal year (FY) 2016-17 to help real sectors for achieving sustainable economic growth with curbing inflation.
BB to set higher credit growth target
Bangladesh Bank may set the private sector credit growth target at 16.5 percent in the monetary policy for the first half of the fiscal year, in keeping with the present momentum. Governor Fazle Kabir is set to announce the monetary policy today for the first half of fiscal 2016-17 in what will be his first big policy statement since he took over the reins from Atiur Rahman in March.
Industrial police enlist 4,000 foreign staff of RMG factories outside city
The industrial police have finalised a list of about four thousand foreign employees, who are now working in readymade garment factories across the country, to ensure their security. Following a militant attack at a Gulshan cafe in the capital Dhaka on July 1 that killed 17 foreigners, the industrial police started to prepare a list of foreign employees in the readymade garment sector in Bangladesh in an aim to ensure necessary security in their workplaces and residences.
Bangladesh’s stocks stay flat for fifth session
Bangladesh’s stocks closed almost flat in red territory for the fifth day on Monday, as investors were mostly cautious ahead of monetary policy statement (MPS) scheduled to be unveiled on Tuesday. Both bourses – the premier bourse Dhaka Stock Exchange (DSE) and the port city bourse Chittagong Stock Exchange (CSE) opened with a mixed trend and witnessing volatility almost throughout the session, ultimately ended in flat.
BB warns again about unlawful investment in savings certificates
Bangladesh Bank has warned again about the unauthorized investment of gratuity funds in the five-year term Bangladesh savings certificate. “There is no scope of investing gratuity fund of any organisation in five-year term savings instruments,” said a circular Bangladesh Bank issued yesterday.
BD to partner Eurasian Economic Union
Bangladesh is set to tie up with a new economic bloc, led by Russia, aiming to explore untapped export potential in markets of its member-countries, officials said. “We have, in principle, decided to sign a memorandum of understanding (MoU) on trade and economic issues with the Eurasian Economic Union (EEU) to tap benefit,” a senior official at the ministry of commerce (MoC) told the FE.
No loan disbursed from stock market refinance scheme in 3 months
The government’s Tk 900-crore refinance scheme for crash-hit investors failed to stimulate them in making fresh investment as none of the investors received such facility in last three months. The Investment Corporation of Bangladesh, which handles the fund, released around Tk 4.59 crore as loans to FAS Capita from the scheme in April 21, 2016.