File photo: Wall Street Journal
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.
BB bars mobile cos from holding stake in MFS cos
Bangladesh Bank on Monday issued a set of regulations on mobile financial services, barring mobile phone companies from holding any stake in an MFS providing company. The new Bangladesh Mobile Financial Services (MFS) Regulations, 2018 replaced the previously issued guidelines titled ‘Mobile Financial Services for the Banks’, said a BB circular issued on Monday, adding that the new regulations would come into effect immediately.
Asset quality for PCBs deteriorates in 2017: BB
Asset quality for the country’s private commercial banks (PCBs) has slightly deteriorated mainly due to higher non-performing loan (NPL), the central bank said. Asset quality deteriorated for the PCBs as their gross non-performing loan (NPL) ratio rose to 4.9 per cent in 2017 from 4.6 per cent a year ago, according to the Financial Stability Report (FSR) 2017, released by the Bangladesh Bank (BB) on Monday.
Study suggests more perks for SEZs in lagging regions
The Special Economic Zones (SEZs) located in the country's rather backward regions need more lucrative incentive packages compared to the SEZs in the developed areas to attract investors, a study opined. The investors will be able to overcome locational disadvantages, if the government offers more attractive incentives for them, it also suggested.
Leading German textile certifier opens labs in Dhaka, Ctg
Hohenstein Institute, a leading accredited German certification provider, has formally launched two laboratories in Dhaka and Chittagong to offer a wide range of chemical and textile technology testing and results analysis. The institute president, Stefan Mecheels, made the announcement at the Radisson Blu Dhaka Water Garden in the capital on Saturday.
Bangladesh’s stocks slide for fifth day
Bangladesh’s stocks extended losses for the five straight sessions on Monday as risk-averse investors continued their selling binge on sector-wise stocks. Analysts said investors sold shares following disappointing earnings declarations while some followed cautious stance ahead of monetary policy statement.
Bankers say many challenges to building cashless economy
Insufficient infrastructure and a lack of security and public awareness about the use of digital payment systems are the key obstacles to building a full-fledged cashless transaction ecosystem in the banking sector, say bankers. They urged bank owners to come up with long term investment plans to adopt a digital payment ecosystem in the country to keep up with global trends.
Govt deems forum for policy talks with foreign investors
The government would consider forming a separate platform for policy dialogues with foreign investors, said Md Nojibur Rahman, Principal Secretary to the Prime Minister. "Currently, we have a platform for public-private dialogue, called Business Initiative Leading Development or BUILD."
Spices get costlier ahead of Eid
Spice prices have started rising on the back of opportunistic traders'bid to cash in on the surge in demand for the essential cooking ingredients ahead of Eid-ul-Azha, the second biggest religious festival in the country. The wholesale and retail prices of spices increased both in Dhaka and Chittagong although the import of six spices—cardamom, cumin, cinnamon, cloves, nutmeg and black pepper—rose 10.73 percent year-on-year to 4.54 crore kilogram in fiscal 2017-18, according to Chittagong Customs data.
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