Dhaka, Bangladesh (BBN) – The BBN has prepared the morning business round up compiling reports, published by different newspapers and news portals in Bangladesh.
Classified loans in farm sector mark sharp rise
The volume of classified loans in the agriculture sector has marked a significant rise in nine months up to March because of lower recovery mainly due to political unrest early this year, officials said.
The non-performing loans (NPLs) of farmers rose to Tk 70.74 billion during the July-March period of the current fiscal year (FY) 2014-15 from Tk 66.63 billion during the same period last year.
We’re trying to reduce the volume of classified loans in the agriculture sector by expediting the recovery drive across the country,” a senior official of the Bangladesh Bank (BB) told the FE.
Exporters oppose pvt quality control centre for RMG items
Garment exporters have strongly opposed a decision of the National Board of Revenue permitting a private organisation to set up a quality control centre for inspecting the quality of apparel products before shipment.
The revenue board on April 5 permitted Ispahani Summit Alliance Terminals Ltd to set up a special bonded warehouse and the quality centre.
Bangladesh Garment Manufacturers and Exporters Association in a letter to the NBR demanded for withdrawal of the permission for the sake of export of RMG products.
Dubai a hub for luxury clothing, accessories: Report
The New World Wealth Index report shows that the oil-rich UAE and in particular Dubai is the main luxury hub in the Middle East.
It generated luxury sales of approximately $6 billion in 2014. This includes luxury cars, personal luxury goods (inclusive of clothing, accessories, watches and jewelry) and luxury hotels, reports Fibre2fashion.
The report says Dubai is a hub for luxury clothing and accessory stores.
The bulk of these stores are located in the Dubai Mall and the Mall of the Emirates.
Japanese steel giant Kobelco enters Bangladesh market
The world’s leading Kobelco Welding, a group company of Japan’s Kobe Steel Limited, has announced its entrance into Bangladesh, eyeing the country’s fastest growing shipbuilding industry.
The company is now selling its wielding equipment to the Western Marine Shipyard, the country’s leading shipbuilders, through its local dealer Tsi Marine Ltd.
The local welding industry is now at its nascent stage in Bangladesh, giving us an opportunity to tap the market,” said Shinichi Tanaka, managing director of Kobelco Welding India Private Ltd, the Group’s India operation, told a group of journalists at a city hotel on Monday.
Payment of profit against savings tools up by 24 pc
The size of the payment of profit accrued on savings instruments of the government increased by more than 24 per cent in nine months of the current fiscal year (FY), compared to that of the last fiscal. During the July-March period of FY 2014-15, the government paid Tk 70.51 billion as profit compared to that of Tk 56.55 billion paid during the same period of the last fiscal, Department of National Savings (DNS) data showed.
The total target of paying profit against borrowing through the savings certificates has been set at Tk 98.77 billion for the entire FY 2014-15.
Mobile transactions reach Tk400 crore per day
The daily average money transactions through mobile financial services reached to a new height with registering over Tk400 crore in March after the return of normalcy in the country’s economic sector.
The transactions rose significantly in March when it reached record high of Tk12,264 crore, according to Bangladesh Bank data.
The daily transaction amount, which usually remained within Tk200 crore to Tk300 crore, climbed up to around Tk409 crore in March.
Polls bubbles burst
An early boycott by the BNP knocked the air out of the city elections in Dhaka and Chittagong yesterday, pushing numerous voting irregularities into the background and making the results virtually irrelevant.
Polling agents of BNP-backed candidates were found absent in most centres and the party ultimately handed a walkover to the ruling Awami League contestants just hours into the voting. Print and electronic media journalists were shut out from covering the polls process at various centres in Dhaka and Chittagong.
BSEC to sit with DSE board members to discuss prolonged market fall
The Bangladesh Securities and Exchange Commission will sit with members of the board of Dhaka Stock Exchange on Thursday following prolonged market fall to discus way outs, DSE officials told New Age on Tuesday.
BSEC chairman M Khairual Hossian will preside over the meeting where BSEC commissioners Helal Uddin Nizami, Md Amzad Hossain, Arif Khan, Md A Salam Sikder, DSE chairman Siddiqur Rahman Miah and managing director Swapan Kumar Bala are expected to attend.