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.
Tanners to get Tk 655cr in loan to buy rawhide
Four state-owned banks would provide 23 entities with credit facility worth around Tk 655 crore for purchasing rawhide on the eve of Eid-ul-Azha, the biggest supply season of the item. Top executives of the banks — Sonali, Rupali, Agrani and Janata — told New Age that they would provide leather businesses loan facility for ensuring collation of maximum amount of rawhide, a major export item.
Primark cuts ties with some factories
British retail giant Primark has suspended business ties with some garment factories in Bangladesh, which had terminated 427 workers for their alleged involvement in agitations during December 2018 and January 2019 demanding a wage hike. “We have been working hard for many years to ensure that our products are made with great care and respect for workers’ rights,” Primark said in response to a query made through an email.
BB issues guidelines on remittance incentive
Bangladesh Bank (BB) on Tuesday issued a circular on providing 2% cash incentive for money to be remitted through banking channel into the country. The cash incentive would be effective from July 1 this year, said the circular, issued from the foreign exchange policy department (FEPD) of the central bank.
CPD to form citizens’ review commission on banking
The Centre for Policy Dialogue (CPD) has decided to form a “Citizens’ Review Commission on Banking” because of the deteriorating health of the banking sector and the ‘inertia’ of the government to address the problems. The board of trustees (BoT) of the think-tank took the decision at its 53rd meeting in Dhaka on Tuesday, according to a CPD statement.
Mannan warns on third-time revision of dev projects
The Planning Commission (PC) is going to be tough on the public agencies which revise their development projects repeatedly. Planning Minister MA Mannan warned on Tuesday the public agencies which are accustomed to placing their projects for a third-time revision after failing to implement those in time.
Maintaining steady economic growth a big challenge: ICCB
Maintaining steady economic growth and reducing inequality are two big challenges for Bangladesh now, Mahbubur Rahman, president of the International Chamber of Commerce Bangladesh, said yesterday. The government has to ensure the equal distribution of the benefits of the economic growth among all and for that more importance should be given to delivery of social services, he said.
Rawhide prices set at 7-yr low despite doubling of cow prices
The government on Tuesday kept prices of rawhides of animals to be sacrificed during the upcoming Eid-ul-Azha same as last year despite increase in prices of all products, including cow, in last one year. Commerce minister Tipu Munshi announced that the prices of cowhide would be Tk 45-50 a square foot in Dhaka and Tk 35-40 a square foot for outside Dhaka.
Bangladesh’s stocks bounce back after a day break
Bangladesh’s stocks rebounded on Tuesday after a single-day break with higher turnover, market operators said. The turnover on Dhaka Stock Exchange (DSE) crossed BDT 5.0 billion-mark on Tuesday again as investors put fresh stakes on stocks amid post-Eid expectation.