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.
Omera, Beximco to export LPG to India
Two Bangladeshi companies are set to export liquefied petroleum gas (LPG) to the landlocked northeastern states of India. Omera Petroleum and Beximco LPG will export LPG to state-owned Indian Oil Corporation (IOC), which will bottle and sell to consumers.
How open is B’desh economy?
The Bangladesh economy’s degree of openness has seen a mixed trend in the last 10 years as economic expansion outstripped foreign trade rise. Bangladesh’s trade-GDP ratio reached 46.30 per cent during fiscal year 2012-13 rising from 37.8 per cent in FY ’10. But such a ratio has fluctuated during the next six fiscal years until FY ’19. The higher such a ratio the more integrated an economy is.
Loans without security make up 6.37pc of NBFIs’ portfolio
Non-bank financial institutions have sanctioned 6.37 per cent of their outstanding loans without taking any security, according to a report prepared by the Bangladesh Bank’s research division. The report showed that the amount of loans disbursed by the country’s 36 NBFIs stood at Tk 69,328.65 crore at the end of March this year.
NBR, BFIU orders to freeze GK Shamim, Khalid bank accounts
The National Board of Revenue (NBR) and the Bangladesh Financial Intelligence Unit (BFIU) have asked all operating banks in the country to freeze all personal and institutional bank accounts of expelled Jubo League leaders GK Shamim and Khalid Mahmud Bhuiyan. The revenue board yesterday asked banks to send details of all bank accounts of arrested Shamim and Khalid, their businesses and family members, and freeze their accounts.
Bangladesh’s stocks extend winning streak on BB moves
Bangladesh’s stocks extended the gaining streak for the second straight sessions on Monday riding on Bangladesh Bank (BB)’s move to ease liquidity crunch in the capital market. At the end of the session, DSEX, the prime index of the DSE, went up by 79.26 points or 1.61 per cent to settle at 5000.23.
BIDA asks businesses to submit list of legal, illegal foreign staff
Country’s industrial units and business entities registered with the Bangladesh Investment Development Authority must have to inform the authority about the number of foreign employees working in the establishments with or without work permits to enjoy specific services from the BIDA. The BIDA in a recent circular said that the business establishments would also have to inform it about the measures they had taken in the case of foreign employees working without work permits.
200 tonnes of onion coming from Myanmar every day
Bangladeshi traders have started importing 200 tonnes of onions a day from Myanmar through borders in order to arrest the skyrocketing price of the key cooking ingredient in the domestic market. The importers of the pungent vegetable shared the information at a meeting with Commerce Secretary Md Jafar Uddin at the secretariat in Dhaka yesterday.
ICB Unit Fund likely to be opened for all
The Investment Corporation of Bangladesh (ICB) has moved to resume full operation of the country’s largest-ever unit fund – ICB Unit Fund – by opening the scope of purchasing its units for all investors. The state-run corporation has taken the initiative as part of its market supportive measures, and for ensuring mass participation in buying and selling the fund.