Dhaka, Bangladesh (BBN) – The BBN has prepared the morning business round up compiling reports, published by different newspapers and news portals in Bangladesh.
Bangladesh gives final nod to new pay scale
Basic salary of civil servants will almost double under the new national pay scale with employees in the lower rungs getting the highest percentage of raise. The new pay structure for civil servants and members of the armed forces was approved yesterday at a cabinet meeting with Prime Minister Sheikh Hasina in the chair.
Pay scale, energy price double trouble
The increase in public servants’ salaries is feared to disturb common people’s budget as consumers are already reeling from the recent gas and power tariff hikes. Economists suggest the government should strongly monitor the situation to check inflation as house rent, transport cost and other service costs tend to rise following hike in energy prices and wage.
Economists seeno inflationary pressure
The latest pay hike of the government employees will not create any new inflationary pressure, according to the country’s economists. The government, however, needs to strengthen vigilance, so that unscrupulous quarters can’t take any undue advantages, they opined.The economists expressed these observations while talking with the FE on implication of the implementation of eighth national pay-scale.
Bangladesh’s stocks close marginally higher
Bangladesh’s stocks edged marginally higher on Monday as optimistic investors took position on large-cap stocks amid optimism. The market started with a positive note which sustained though out the session. DSEX, the benchmark index of the Dhaka Stock Exchange, went up by 19.26 points or 0.40 percent to settle at 4,791.91.
Access to funds still an issue for women entrepreneurs
Access to finance remains a challenge for women entrepreneurs, despite progress and a change in the mindset of lenders and policymakers. Speakers at a symposium yesterday stressed the need for women entrepreneurs to diversify their businesses and products.
NBFIs asked to take BB consent before HQ, branch expansion
Bangladesh Bank on Monday asked the non-bank financial institutions not to expand and relocate their head offices, branches and booths without taking prior approval from the central bank. The BB issued a circular to managing directors and chief executive officers of all NBFIs mentioning that some NBFIs had recently rented space to extend and relocate their head offices in violation of the Financial Institution Act 1993.
Readymade garments export bounces back in August
Country’s export earnings from the readymade garments sector bounced back in August posting over 32% rise after suffering more than 12% decline in July, this year. According to provisional data of Export Promotion Bureau (EPB), Bangladesh earned US$2.27bn in August, which is 32.45% higher compared to $1.71bn in same period a year ago.
Money market turnover crosses BDT 52bn, rates unchanged
The overall turnover in the inter-bank money market crossed BDT 52 billion-mark on Sunday while the call money rates remain unchanged, officials said. The turnover in the market rose to BDT 52.44 billion on the day from BDT 49.14 billion of the previous day, according to the central bank latest statistics, released on Monday.