Bangladesh Bank Headquarters

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.

Economy faces downside risks
Country’s economy faces some downside risks in the near term predominantly for an upturn in inflation, says a quarterly review by the central bank. The latest Bangladesh Bank Quarterly (BBQ) outlook on the country’s economic situation for April-June 2017 carries the caution because of higher risk stemming from inflation.

State-run banks to disclose list of top loan defaulters through newspapers
The eight state-owned banks are considering revealing the names of top loan defaulters by publishing advertisements in daily newspapers, in order to check the upward trend of default loans. This is just one of the recommendations which are to be finalised by the Financial Institutions Division in a meeting on Tuesday.

PayPal to launch services Oct 19
International online payment gateway PayPal is finally gearing up to launch its services in Bangladesh. State Minister for ICT Division Zunaid Ahmed Palak yesterday confirmed the matter to The Daily Star. He said Prime Minister Sheikh Hasina’s ICT Affairs Adviser Sajeeb Wazed Joy would launch the service on October 19, the second day of ICT Expo-2017.

Bangladesh, Nepal for removing trade barriers
Bangladesh and Nepal have agreed to examine existing tariffs and possibility of removal of non-tariff and para-tariff barriers to enhance bilateral trade. Foreign secretaries of the two countries discussed the matter at annual Foreign Office Consultations held in Dhaka on Sunday, when they agreed that the bilateral trade volume was still far below the potential, according to a foreign ministry release.

NBR plans EFD in place of ECR at shops
National Board of Revenue has dropped its plan of providing electronic cash register to shopkeepers citing complexities in maintenance and after-sales service. Initially, the revenue board had decided to procure 10,000 ECR machines and distribute those among traders at subsidised rate as the part of implementation of the automated VAT system under the new VAT law.

Rice-laden ships stuck for port congestion
A number of rice-laden vessels have started arriving at the Chittagong port but unloading of the staple is being delayed due to logistical shortcomings at the port. A dearth of the required number of lighter vessels and a lack of jetties in the port mainly delayed the discharge. Foul weather with incessant rain also played a part.

Sponsor-directors go for more bank shares ahead of change in law
The country’s capital market has become mostly dependent on the banking sector in recent times mainly due to increased participation in transactions of banks’ shares by the sponsor-directors, according to stock brokers and market insiders. The banking sector contributed up to around 40 per cent of the total market turnover in September. On October 02, its contribution to the day’s total turnover went as high as 56.4 per cent.

ILO: Sluggish SME development hurts jobs, economy
The latest edition of the ILO’s flagship report shows investing in workers and innovation, and boosting trade and social dialogue are key to stemming rising global unemployment. According to ILO news, with more than 201 million workers unemployed in 2017, an increase of 3.4m compared to 2016, enterprises, particularly small and medium-sized enterprises (SMEs), play a crucial role in creating decent jobs around the globe.

BBN/SSR/AD