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.
More troubles ahead for taka
Bangladesh taka will come under pressure against the US dollar because of the widening deficit in the balance of payments, said Standard Chartered bank yesterday.
Dollar exceeds Tk 84 despite injection of $1.5b in 8 months
Excessive demand for the US dollar continues to devalue local currency taka despite the central bank injecting a sizeable amount of the greenback in the local market.
Kamal defends approval of new banks
Finance Minister A H M Mustafa Kamal said on Monday that he was not worried about the number of banks provided they follow rules and regulations. “The number of banks is not a big matter — what matters is whether they run following rules and regulations and can provide proper services to customers,” the minister said.
New banks will only add to woes
The entry of the three new banks will weaken the banking sector further by putting additional pressure on supervision, auditing and deposits, said experts yesterday.
Bangladesh’s stocks fall as major sectors tumble
Bangladesh’s stocks fell significantly on Monday, after remaining positive in the past three days, as risk-averse investors went on selling mode.
Pursue free trade deals to offset loss of benefits: PC
The Planning Commission (PC) foresees tough days for Bangladesh’s economy after the nation graduates from the least developed country (LDC) status by 2024. Still, the Commission said the economy could thrive, helped by various international support measures offered by developed countries to the poorer nations.
IDLC profits decline in 2018
IDLC Finance Limited’s net profit after tax stood at Tk217.1 crore in 2018, which is 4.40% less than the profit in the previous year. However, their non-performing loans accounted for 2.20% of its total outstanding loans in contrast to 2.77% a year earlier, reflecting an improvement in their portfolio quality.
Moody’s doubts efficacy of BB’s revised write-off policy
Global rating agency Moody’s has said that the revised loan write-off policy of Bangladesh Bank would not be able to reduce non-performing loans significantly due to the weaknesses in corporate governance and lengthy legal processes.