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.

‘Govt should turn most SoBs into deposit banks’
The government should turn the state-owned banks (SoBs) into only deposit-receiving banks to stop loan concentration and prevent accumulation of non-performing loans (NPLs), a leading economist has said. At the same time, the government should rationalise the current protection regime for the domestic industries to make the local manufacturers more export-oriented, said Dr. Zaidi Sattar, Chairman of Policy Research Institute, Bangladesh (PRI), the country’s leading economic think-tank.

Bangladesh unveils monetary policy on Wednesday
The central bank of Bangladesh is set to unveil its second half-yearly (H2) monetary policy statement (MPS) on Wednesday aiming to achieve sustainable economic growth with curbing inflation. Bangladesh Bank (BB) Governor Fazle Kabir will announce the MPS for the January-June period of this fiscal year (FY), 2018-19, at 11:30 am on the day to emphasize on ensuring the quality of credit, officials said.

VAT authorities file cases against 24 businesses
Value-added tax authorities on Tuesday filed cases against 24 business entities in the Dhaka International Trade Fair 2019 for alleged irregularities related to VAT collection from consumers and deposition to the government exchequer. An inspection team of Customs, Excise and VAT Commissionerate, Dhaka (west) on Monday conducted drives at some 35 stalls in the fair to check compliance of VAT payment and found VAT related irregularities at 24 stalls.

Nearly 5,000 garment workers sacked over Bangladesh strikes
Nearly 5,000 low-paid Bangladeshi garment workers stitching clothes for global brands have been sacked by factory bosses for joining strikes over wages this month that turned violent, police said on Tuesday. Thousands of labourers walked out of factory floors across the country in days-long protests that disrupted the $30 billion industry—and saw police fire rubber bullets and tear gas at demonstrators.

Infrastructure construction to increase in Bangladesh: AIIB
Bangladesh will remain a priority market for the Asian Infrastructure Investment Bank (AIIB) in 2019 despite infrastructure stakeholders’ concerns about inflationary pressures and their projected depreciation of the local currency. There continue to be significant infrastructure investment opportunities across Asia, including in Bangladesh, despite current market uncertainty and short-term challenges, according to the inaugural Asian Infrastructure Finance report.

Advance-deposit ratio now within regulatory limits
The average advance-deposit ratio (ADR) of private banks came down within the regulatory limit in September last year after going past the ceiling in April, thanks to adequate liquidity. The ratio came down to 84.38 percent in September from 86.23 percent in April, according to Bangladesh Bank data.

Stocks rise after 2-day fall
Dhaka stocks gained on Tuesday after a two-day fall as investors went for buying sector-specific scrips amid expectations of better financial results. DSEX, the key index of Dhaka Stock Exchange, advanced by 0.34 per cent, or 20.30 points, to close at 5,924.53 points on Tuesday after losing 45.77 points in the previous two sessions.

Gold prices rise again by Tk1,167 per bhori
The prices of all kinds of gold increased yesterday by Tk1,167 per bhori, in line with the international market, Bangladesh Jewellers’ Samity (Bajus) said in a statement. The latest rise comes less than a month, after the last price hike of the precious metal on January 2.

BBN/SSR/AD