Dhaka, Bangladesh (BBN) – The BBN has prepared the morning business round up compiling reports, published by different newspapers and news portals in Bangladesh.
Banks’ Q3 financials indicate a turnaround
The profit earned by a number of listed banks was higher in the third quarter (July-September) of the current calendar year compared to that fetched during the corresponding period of last year. Bankers attribute the positive development to political stability and declining cost of funds. Among 30 listed banks, so far 11 have published their Q3 un-audited financial statements as of Monday. And among the 11, consolidated net profit and earning per share (EPS) of nine banks increased over the same in the corresponding period of 2013.
Jump in machinery imports in Q1 raise money laundering suspicion
The imports of capital and other industrial machinery increased by 21 per cent in the first quarter of the current financial year compared with that in the same period of the FY2013-14 raising a suspicion of money laundering. According to the latest Bangladesh Bank data, the import of capital machinery and machinery for miscellaneous industries increased to $1.65 billion in July-September of the FY15 from $1.37 billion in the same period of the FY14.
Manpower Export to UAE: Still knotted
Prime Minister Sheikh Hasina yesterday urged the UAE to remove the obstacles towards reopening its labour market for Bangladeshis.
She made the request during a meeting with her UAE counterpart Sheikh Mohammed bin Rashid Al Maktoum at the Zabeel Palace in Dubai.
The UAE PM, in response, said the matter could be resolved through government-level talks like holding discussions between the UAE interior ministry and the home ministry of Bangladesh.
Garment industry now open to FDI outside EPZs
The government has finally agreed to conditionally allow foreign direct investment (FDI) in the garment industry outside the export-processing zones (EPZs) for boosting apparel exports. Officials and sector-insiders said the agreement came at a recent meeting of the government with apparel-sector stakeholders at the Export Promotion Bureau (EPB). Senior officials of commerce ministry, EPB and leaders from BGMEA and BKMEA were present.
BREAKING NEWS: CDBL server goes down, hits e-trade settlement
Trade settlement through the central depository system (CDS) was disrupted on Monday due to a technical glitch in the server of the Central Depository Bangladesh Ltd (CDBL), officials said Technical disruption was observed when they started the settlement job at around 4:30 pm after the day’s trading in stocks, according to the CDBL officials.
Bangladesh-US Partnership Dialogue begins in Washington Tuesday
The third Bangladesh-US Partnership Dialogue begins in the US capital of Washington on Tuesday aiming to further widen and deepen the ties between the two countries. Under Secretary for Political Affairs Wendy R. Sherman and Bangladesh Foreign Secretary Md. Shahidul Haque will co-chair the third U.S.-Bangladesh Partnership Dialogue in Washington, DC on October 28-29.
BBN/SSR/AD-28Oct14-10:09 am (BST)