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.
Foreign buyers resume B’desh visit as police giving escorts
Many of the foreign buyers have resumed visiting Bangladesh in recent days after a brief pause following two deadly extremist attacks in July as the Industrial Police are giving them round-the-clock security from arrival to departure, said garment factory owners. They said that some buyers had suspended Bangladesh visit soon after the attacks at Gulshan in Dhaka on July 1 and at Sholakia in Kishoreganj on July 7.
Curtain to come down on Citycell by Aug 23
The government has set in motion the process to revoke Citycell’s licence after the operator failed to pay its dues amounting to Tk 477.51 crore. Citycell’s subscribers have until August 23 to switch to another operator, State Minister for Telecom Tarana Halim said yesterday, after a meeting with the telecom regulator. Citycell has about two lakh subscribers at present, compared to 7.02 lakh at the end of June.
Bangladesh’s eight banks face capital shortfall in Q1
Higher capital requirement to meet Basel-III requirement and the deadweight of classified loans have resulted in capital shortfall in eight banks and substantial erosion in the surplus capital of 48 others in Bangladesh. Three state-owned commercial banks (SoCBs) out of six, three private commercial banks (PCBs) out of 39 and two specialised banks (SBs) were on the list of those facing the capital shortfall during the first quarter (Q1) of the current calendar year, according to the central bank’s latest statistics.
Memo on new MDs for Sonali, Agrani, Rupali
The Bank and Financial Institutions Division of the Finance Ministry published a memo on appointment of managing directors and Chief Executive Officers (CEOs) at Sonali, Agrani, and Rupali – all state-owned commercial banks (SoCBs). Obaidullah Al Masum, now serving as the MD of Karmasangthan Bank, has been recommended as the incoming MD and CEO of Sonali Bank while Ansar and VDP Bank’s MD Shamsul Islam has been recommended as the head of Agrani Bank. Probashi Kalayan Bank MD Ataur Rahman has been proposed as the MD and CEO of Rupali Bank.
Bangladesh’s stocks rise marginally amid choppy trading
Bangladesh’s stocks ended on Tuesday with a marginal rise amid choppy trading. The country’s prime bourse, Dhaka Stock Exchange (DSE) exhibited ‘upbeat’ session amidst increased participation from the investors on the day. The market started the day’s session with a positive mood and flat movement was observed within first one hour in absence of any enthusiasm on the DSE.
Wheat imports to rise slightly
Bangladesh’s wheat imports may rise about 1 percent year-on-year to 44 lakh tonnes this fiscal year, thanks to strong domestic demand and lower international prices, according to the US Department of Agriculture. However, rice imports may decline to 1.5 lakh tonnes, owing to an increase in import tariff on the staple, the agency said in its July issue of Grain and Feed Update on Bangladesh.
Dhaka to allow Delhi use of territory for emergency supplies
Bangladesh and India are likely to sign a memorandum of understanding in Dhaka in a day or two allowing India use of Bangladesh territory once again to transport emergency supplies from Meghalaya to Tripura, on humanitarian grounds. An Indian delegation is likely to reach Dhaka today to sign the memorandum. Diplomats of the two countries were engaged in last minute negotiations for finalising the deal, which is likely to be specific and short-term, with validity till September 30.
RMG factories to get funds for workers’ dorms
A total of 13 apparel manufacturers have recently got approval from Bangladesh Bank for low-cost funds to construct dormitories for their workers in order to provide them with better living facilities, said a BGMEA high official. According to an agreement signed between Bangladesh Bank and Bangladesh Garment Manufactures and Exporters Association, the central bank will provide loans at 1.5% interest. The loan will be repaid in 15 years.