Mustafa Kamal

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.

Listing of SOEs to pick up speed
A high-stake meeting on Monday decided to speed up the process of listing of state-owned enterprises to help revive the country’s ailing capital market. Also, an internal audit department will be established under the securities regulator to look into the financials and operations of the listed companies. On the other hand, steps will be taken to ensure ‘fair’ prices of initial public offerings.

Govt eyes 300MW rooftop solar power
The government is looking to use the rooftops of factories and public agencies to generate about 300MW of clean electricity through solar photovoltaics (PV) — a move that can slash emissions and dependency on fossil fuel. “We are considering rooftops because of scarcity of land suitable for setting up solar power plants to generate renewable energy — and we have a lot of rooftops,” said Siddique Zobair, member of the Sustainable & Renewable Energy Development Authority (Sreda).

July trade deficit eases by 15.6pc
Country’s trade deficit dropped by 15.6 per cent or $181 million in July, the first month of the current fiscal year, compared with that in the same month of last fiscal year due mainly to a dismal state of imports. As per the Bangladesh Bank data released on Monday, the country’s trade deficit decreased to $979 million in July of FY 2019-20 against $1.16 billion in the same month of FY 2018-19.

Insurance coverage in Bangladesh lowest in emerging Asia
It took weeks before Mohammad Tuhin, an agent of a life insurance company, could finally make M Rahman understand why he should open an insurance policy for a secure life for him and his family. When first told about life insurance, Rahman gave a blank look, not knowing what a policy was all about and why one would be needing it. Total ignorance and lack of trust hung heavy on him.

Stocks post modest gain
Stocks posted a modest gain on Monday riding on the news of finance minister’s meeting with the stakeholders to find out ways to boost the capital market. DSEX, the prime index of the Dhaka Stock Exchange, went up by 17.49 points or 0.35 per cent to settle at 4,959 over the previous day.

Banks board reluctant to take effective risk management programme: study
The board of directors and top management of banks are yet to understand the need of effective risk management programme as they consider it merely a regulatory mandate, according to a research report of Bangladesh Institute Bank Management. The report was presented in a workshop on ‘Effectiveness of Risk Management Division of Banks-An assessment’, organised by BIBM in the capital on Monday.

Rod price falls on low demand, scrap price slump
In a surprise development, prices of mild-steel rod fell in Bangladesh owing to lower demand, the fall of raw material prices in global market, and the slow start of development projects in the first quarter of the current fiscal year. When the budget for the current fiscal year was unveiled in June, steel millers had been apprehending an average increase of retail price of rod by Tk 9,000 per tonne, owing to a number of new VAT and tax measures and gas price hike.

Onion prices drop slightly as import resumes through Hili port
The prices of onion have come down slightly after import resumed through Hili land port in Dinajpur after a brief halt. On Sunday afternoon, traders started importing onions at the new minimum export price (MEP) set by the Indian government.