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’s classified loans rise by 6.65% in Q2
The volume of non-performing loans (NPLs) in the country’s banking system increased by 6.65 per cent in the second quarter (Q2) of this calendar year despite close monitoring by the central bank. The amount of NPLs rose to BDT 633.65 billion during the April-June period of this calendar year from BDT 594.11 billion in the preceding quarter, according to the latest central bank statistics.
Foreign firm’s procrastination defers commencement plan
Counting 25-year concessional period of the Dhaka Elevated Expressway (DEE) project is yet to start even though over six years have elapsed since agreement signing under public-private partnership (PPP). Though both public and private parties had so far been blamed for not commencing the period, sources said limitations of the public sector were recently overcome through handover of the DEE land to the private partner by Bangladesh Bridges Authority (BBA).
Telcos barred from giving secondary fibre connection
The telecom regulator has decided to bar mobile phone companies from providing secondary fibre optic connectivity to other operators. Bangladesh Telecommunication Regulatory Commission decision came at a regular meeting of the commission on Sunday. BTRC also decided that from now on any fibre optic connectivity should only be provided by the National Telecommunication Transmission Network operators.
Meghna gets final licence for economic zone
Meghna Economic Zone (MEZ), a concern of Meghna Group of Industries, has received final approval as the first private sector economic zone of Bangladesh. Bangladesh Economic Zones Authority (BEZA) yesterday awarded the final licence to the Meghna Group, a leading business conglomerate of the country, to build an economic zone in Sonargaon, Narayanganj.
Bangladesh’s stocks turnover hits 7-month high
Bangladesh’s stocks extended losing spell for the fourth session in a row on Tuesday as risk-averse investors booked quick-profit. The market opened with a positive note, gaining around 10 points within first hour of trading, could not sustain the momentum as the session progressed, ultimately ended marginally lower. At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), finished at 4,563.68 points, shedding 14.16 points or 0.31 percent.
Guideline for workers’ welfare fund on cards
The government is preparing a guideline on disbursing the money deposited in the recently formed workers’ welfare fund. As of Sunday, more than Tk 2 crore has been deposited in the fund, said Labour Secretary Mikail Shipar. The government floated the fund for garment workers in September last year, and started deducting 0.03 percent of export receipts directly from the bank accounts of exporters from July this year.
DSE members to get spaces in new building at nominal fees
The board of directors of Dhaka Stock Exchange has agreed to allocate 500 square feet of space to each of the stockbrokers in the bourse’s new 10-storied building at Nikunja in Dhaka at a fee which will be far lower than the market rate, DSE sources said. The construction of the building, which began in 2007, is expected to be completed partially by December this year.
NBR probing tax compliance, funding sources of trusts
The National Board of Revenue (NBR) is probing for any foul play in receiving the sources of funds by registered trusts following global concerns about growing acts of money laundering. A large part of the funding of trusts comes from religious sources which are exempt from income tax under the existing Income Tax Ordinance 1984.