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.
Together, we fight terror
US Secretary of State John Kerry yesterday said the United States stands firmly by Bangladesh in the fight against militancy and both countries have agreed to increase cooperation between their intelligence agencies. “We have to stand together,” Kerry said, emphasising information sharing, constant communication and good governance.
Strong surveillance can stem NPL surge
Strong supervision alongside competitive environment is an imperative for stemming the rise in non-performing loans (NPLs) in the country’s banking system, experts said Monday. There have been worries over the ballooning of such bad loans in the banks as statistics show the amount of NPLs in the country’s banking sector has risen by over 23 per cent or Tk 120 billion in the first half (H1) of the current calendar year.
Foreign loan disbursement drops in July
The disbursement of loans by the foreign development partners decreased in July to $120.59 million compared to that of $140.40 million in the corresponding period of the previous year. Of the total disbursement, $120.44 million was in loans and only $0.15 million was in grants, according to Economic Relations Division data released on Monday. Of the total disbursement in July last year, $130.90 million was in loans and $0.41 million was in grants.
BB shows stolen $81m as ‘other receivable’ in balance-sheet
The central bank of Bangladesh has kept its entire US$81 million stolen fund in other assets as other receivable in the balance-sheet for the fiscal year (FY) 2015-16. The approval was given in a meeting of the Bangladesh Bank (BB)’s board of directors meeting held at its headquarters on Monday with Governor Fazle Kabir in the chair.
Bangladesh’s stocks extend losses for seven days
Bangladesh’s stocks ended almost flat in the red on Monday, extending the losing streak for the seventh session in a row, as most of the investors remained followed cautious stance amid lack of market triggers. After witnessing volatility almost throughout the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 0.51 points or 0.01 percent to settle at 4,534.04 points.
Kerry calls for safeguarding labour rights
US Secretary of State John Kerry yesterday suggested protecting workers’ rights in the garment sector and strengthening workplace safety in Bangladesh. “Bangladesh cannot truly meet the aspirations of its people and share prosperity if its workers are not safe and their rights are not ensured,” Kerry said, referring to the collapse of a building in 2013 that housed five garment factories and killed more than 1,100 people in the country’s worst industrial disaster, according to the Associated Press.
Govt cuts interest rate on garment remediation loan
The government has fixed new rate of interest and services charges under the donor-assisted refinancing fund to help garment factory owners secure the loan, sources said. All charges have now been capped at 7.0 per cent, which were 9-10 per cent for getting loan from the apparel sector’s remediation fund, according to a ministry of finance (MoF) guideline issued on Sunday last.
HC decision on Robi-Airtel merger likely tomorrow
The company bench of the High Court is likely to pass its judgement on the long-awaited Robi-Airtel merger proposal tomorrow. “The High Court has taken all the aspects related to the merger of Robi Axiata Limited and Airtel Bangladesh Limited into account and fixed August 31, 2016 for passing its judgement,” Barrister Sayed Mahsib Hossian, counsel for Bangladesh Telecommunication Regulatory Commission (BTRC) told the Dhaka Tribune yesterday.