Chittagong port

Chattogram port of Bangladesh

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.

Chattogram Port: Tk 10,000cr goods left abandoned
Goods worth around Tk 10,000 crore have been left abandoned by importers at the Chattogram Port for the past five and half years, depriving customs of revenue and leading to a space crisis.

ACC bans foreign travel by former PLFS chair, two directors
The Anti-Corruption Commission on Monday imposed a ban on foreign travel by former People’s Leasing and Financial Services chairman M Moazzam Hossain and two former PLFS directors — Biswajit Kumar Roy and Khobiruddin Mia.

Mustafa Kamal reiterates single digit lending rate
Finance Minister AHM Mustafa Kamal said on Monday that non-performing loans (NPL) in state-run scheduled banks decreased slightly in June compared to December last year and March this year. “NPL in state-owned banks reduced slightly in June. It is a good sign. I think the country’s financial sector is on the right track with regard to NPL management,” AHM Mustafa Kamal told journalists at a briefing at his secretariat office in the evening.

Bangladesh’s banks asked to monitor large classified loans
The central bank of Bangladesh has asked the commercial banks to reduce their volume of classified loans through strengthening monitoring of such loan accounts amounting to BDT 1.0 billion and above. Under the latest measure, all the banks will have to form special monitoring cell, headed by the deputy managing director (DMD) concerned, to monitor the loan accounts amounting to BDT1.0 billion and above, according to a notification, issued by the Bangladesh Bank (BB) on Monday.

Key index dips below 5,000-mark after 31 months
The key index of the major bourse slumped below the ‘psychological’ threshold of 5,000-mark on Monday as investors continued to dump their holdings to escape further loss. DSEX, the prime index of the Dhaka Stock Exchange, lost 67.30 points or 1.33 per cent to settle at 31 month-low to 4,966. On December 22, 2016, the index was 4,956.

Exporters get a boost
Exporters will now be able to issue the certificate of origin to enjoy the generalised system of preferences (GSP) facility in the European Union, instead of relying on the Export Promotion Bureau (EPB) for the document. Md Mofizul Islam, senior secretary of the commerce ministry, Md Shafiqul Islam, vice-chairman of the EPB, Sheikh Fazle Fahim, president of the Federation of Bangladesh Chambers of Commerce and Industry, and Md Siddiqur Rahman, vice-president of the federation, were also present at the event.

BTRC steps up building revenue monitoring system of telcos
The telecom regulator is speeding up the process of building a system that will allow monitoring the revenue of the mobile phone operators, enabling it to bring transparency in government earnings. As part of the move, the commission is currently evaluating the applications of 17 firms expressing their interest to get the job, according to officials of Bangladesh Telecommunication Regulatory Commission.

DSE board decides to list Coppertech ignoring its anomalies
The Dhaka Stock Exchange has finally decided to list controversial Coppertech Industries despite allegations that the company’s financial data were fabricated. According to media reports, the company fabricated its financial data to get listed with the country’s bourses.