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.
Bangladesh Bank opposes issusing car, trade, property licences
Bangladesh Bank is opposing issuing trade licences and registration of cars and properties to wilful loan defaulters in the draft bill seeking amendment to the bank company act 1991. The wilful defaulters should also be barred from traveling abroad in business class and their identities be made public, says the draft amendment bill.
Banks allowed forming BDT 2.0b fund for capital market
The central bank of Bangladesh has allowed all scheduled banks to create a special fund worth BDT 2.0 billion each of five-year tenure, only for investment in the capital market. Under the fresh policy, the banks may form the special fund with their own resources or with fund received from the Bangladesh Bank (BB) through repo or re-financing mechanism, according to an eight-page notification, issued by the BB on Sunday.
BSEC sits with top executives of seven SoEs next week
The securities regulator has stepped up its efforts to facilitate the process of divesting the shares of some selected state-owned enterprises (SoEs) in a bid to revamp the country’s stock market. As part of the move, the Bangladesh Securities and Exchange Commission (BSEC) will sit with top executives of seven SoEs next week to evaluate their requirements and preparations in this regard.
Commerce ministry to consider alternative garlic routes
Bangladesh will look for alternative markets to source garlic, ginger and other spices in case the coronavirus outbreak is prolonged, said Commerce Minister Tipu Munshi yesterday. We will not face any difficulties if onion imports from China are stopped. However, we are observing the supply situation of garlic and ginger. We will consider alternative markets if the coronavirus crisis continues for a long time,” he told reporters at his office after a meeting with David Marit, the visiting Agriculture Minister of Canada’s Saskatchewan province.
Bangladesh’s stocks witness modest fall
Bangladesh’s stocks witnessed a modest fall on Monday, extending the losing streak for the fifth straight session, as nervous investors continued their sell-offs on selective issues. DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 3.20 points or 0.07 per cent to settle at 4,385.
DSE foreign investors withdraw fund for 11 months
The net foreign investment at Dhaka Stock Exchange remained negative for the last 11 months in January this year due mainly to low investors’ confidence in the market, gloomy economic reports and volatile financial sector. The net foreign investment dipped to BDT 128 crore negative in January this year after BDT 16.2 crore negative in December last year.
Coronavirus outbreak: Local e-commerce industry fears shipment disruption
The country’s e-commerce traders fear shipment disruption and slump in business under a prolonged coronavirus impact as major online products are imported from China for the growing local market. Industry insiders say they are waiting for feedbacks from their Chinese counterparts on shipment details as mainland China has been forced to enjoy extended holidays following the virus outbreak.
Disruption in supply chain worries garment exporters
Bangladesh’s clothing industry is likely to be seriously affected by the impact of coronavirus as the country imports almost half its raw materials requirement for the sector, exporters say. They said the sector is facing uncertainties as the death toll from the novel virus exceeded 900 on Monday.