Transactions in a state-owned bank is going on at Motijheel, the commercial hub of Bangladesh. BBN file photo

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.

Simplifying of bank account opening process in offing
A government committee is going to recommend simplifying of the bank account opening process to bring the unbanked people under the banking network, said officials on Tuesday. They said that many people had remained unbanked due to complexities in completing the current account opening process.

Brac Bank to get $30m from British financier
CDC Group, the UK government’s development finance institution, yesterday announced to invest $30 million (over Tk 25 crore) in Bangladesh’s Brac Bank. Bangladesh presents significant opportunities for entities like CDC Group, in financial services, infrastructure and manufacturing, said its chief executive, Nick O’Donohoe.

Inward remittances up by 16.60% in Q1 of FY ’20
The inflow of remittances grew by 16.60 per cent in the first quarter (Q1) of this fiscal year (FY) as the government has announced 2.0 per cent incentive for remittance receipts, officials said. The flow of inward remittances rose to US$4.51 billion during the July-September period of FY 2019-20 from $3.87 billion in the same period of the previous fiscal, according to the central bank’s latest statistics.

Businesses push for interactive task force
Business leaders urged the government on Tuesday to ensure proper coordination among its agencies to help expedite their service delivery to investors. They also felt that the need for holding more interaction between the government and the investors, both local and foreign operating in the country, to help identify the bottlenecks faced by the latter.

Bangladesh’s stocks end flat after bumpy ride
Bangladesh’s stocks ended flat on Tuesday after volatile trading as investors were active both sides of trading fence. DSEX, the prime index of the Dhaka Stock Exchange (DSE), settled at 4949, advancing 1.75 points or 0.03 per cent over the previous day. The DSE Shariah Index also gained 1.51 points to close at 1,140.

BSEC approves Golden Harvest rights offer
Bangladesh Securities and Exchange Commission (BSEC) on Tuesday approved right share proposal of Golden Harvest Agro Industries Ltd (GHAIL). The company will raise Tk 90 crore by issuing 9 crore right shares.

Made in Bangladesh refrigerators dominate market
Just a decade ago Bangladesh was almost fully dependent on import to meet its demand for refrigerators. But the situation has reversed, with about 80 percent of the demand now met by locally-manufactured ones. Walton has shown the path by setting up a manufacturing plant in 2008, and in 2016 has even started manufacturing compressors, the vital component of refrigerators.

42 jewellers, banks seek gold import licences
Bangladesh Bank has received 42 applications from different entities including banks and jewellers to be enlisted as authorised gold dealers. The authorised gold dealers will be entitled to import gold bars directly from international markets, especially from Dubai of the United Arab Emirates.