DT e-Paper 29 March 2017
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<strong>DT</strong><br />
10<br />
Business<br />
WEDNESDAY, MARCH <strong>29</strong>, <strong>2017</strong><br />
CAPITAL MARKET SNAPSHOT: TUESDAY<br />
DSE Broad Index 5,737.4 0.7% ▼ Index 1,<strong>29</strong>7.4 0.1% ▼ 30 Index 2,095.2 1.1% ▼ Turnover in Mn Tk 9,959.4 28.2% ▼ Turnover in Mn Vol <strong>29</strong>6.8 19.0% ▼<br />
CSE All Share Index 17,800.8 0.7% ▼ 30 Index 15,562.3 1.0% ▼ Selected Index 10,787.9 0.7% ▼ Turnover in Mn Tk 665.1 -3.4% ▼ Turnover in Mn Vol 22.4 2.7% ▼<br />
BB heist: Muhith<br />
confident about<br />
getting back money<br />
• Asif Showkat Kallol<br />
Finance Minister AMA Muhith reiterated<br />
that Bangladesh would be<br />
able to recover the money stolen<br />
from its central bank account in the<br />
United States.<br />
“We definitely have to get back<br />
the money from the Philippines as<br />
that money is ours,” Muhith told a<br />
meeting with the Bangladesh Bank<br />
officials yesterday in Dhaka.<br />
Law Minister Anisul Huq, Home<br />
Minister Asaduzzaman Khan Kamal,<br />
Bangladesh Bank Governor Fazle Kabir<br />
and Attorney General Mahbubey<br />
Alam also attended the meeting.<br />
About the fire incident at the Bangladesh<br />
Bank building on Thursday, finance<br />
minister said the fire originated<br />
from an electric short circuit.<br />
A Bangladesh Bank representative<br />
informed the meeting that<br />
the Philippines President Rodrigo<br />
Duterte had earlier promised to<br />
return the money to Bangladesh<br />
through regular procedures.<br />
A meeting source quoted law<br />
minister who at the meeting urged<br />
the authorities concerned to take<br />
strict legal actions to bring the<br />
money from Philippines within the<br />
stipulated time.<br />
A representative of the Central<br />
Investigation Department said Finance<br />
Division should not disclose<br />
Bangladesh Bank report on the cyber<br />
heist.<br />
“It’s a sensitive issue and the<br />
disclosure may affect the recovery<br />
process,” he said.<br />
A high Finance Division official<br />
who also attended the meeting<br />
said a big part of the stolen money<br />
might be returned, which would be<br />
“surprising to all.”<br />
In February, 2016 the hackers<br />
stole $81m from Bangladesh Bank account<br />
with Fed Reserve in New York.<br />
A total of $15m returned to<br />
Bangladesh by the Philippines government<br />
and the rest of amount<br />
still remain in the country.<br />
Five transactions issued by the<br />
hackers, worth $101m, and withdrawn<br />
from the account, were<br />
succeeded, with $20m traced to Sri<br />
Lanka and $81m to the Philippines.<br />
The Federal Reserve Bank of NY<br />
blocked the remaining thirty transactions,<br />
amounting to $850m, at<br />
the request of Bangladesh Bank. •<br />
Organisers announce the Dhaka International Tourism Fair <strong>2017</strong> at a press conference yesterday. The 14th edition of the<br />
three-day fair will begin Thursday at Sonargaon Hotel, Dhaka<br />
COURTESY<br />
Tourism fair begins tomorrow<br />
• Tribune Business Desk<br />
A three-day international tourism<br />
fair titled US-Bangla Airlines Dhaka<br />
Travel Mart (<strong>DT</strong>M) <strong>2017</strong> will begin<br />
at Pan Pacific Sonargaon Hotel tomorrow.<br />
Civil Aviation and Tourism Minister<br />
Rashed Khan Menon will formally<br />
inaugurate the fair.<br />
Kazi Wahidul Alam, editor, The<br />
Bangladesh Monitor and Chairman<br />
of the US-Bangla Airlines <strong>DT</strong>M <strong>2017</strong><br />
Organising Committee, came up<br />
with this disclosure at a press conference<br />
held yesterday at Pan Pacific<br />
Sonargaon Hotel.<br />
Imran Asif, CEO of US-Bangla<br />
Airlines, Dr Md Nasir Uddin, CEO<br />
of Bangladesh Tourism Board, Dr<br />
Aparup Chowdhury, chairman,<br />
Bangladesh Parjatan Corporation,<br />
and Md Abu Taher, DGM, Sales, Biman<br />
Bangladesh Airlines, spoke on<br />
the occasion.<br />
The orgniser said a total of 50<br />
organisations from different countries<br />
and host Bangladesh are taking<br />
part in US-Bangla Airlines Dhaka<br />
Travel Mart <strong>2017</strong>.<br />
The participants include national<br />
tourism organisations, airlines,<br />
tour operators, hotels, resorts, online<br />
booking portals, healthcare<br />
service providers, etc. Visitors will<br />
be able to visit the fair from 10am<br />
to 8 pm from Thursday to Saturday,<br />
paying an entry fee of Tk30.<br />
Raffle draw will also be held on the<br />
concluding day on April 1 at 7:30pm<br />
at the fair venue in front of visitors.<br />
Prizes will include airline tickets<br />
to various destinations at home<br />
and abroad, exciting tour packages,<br />
star hotel accommodation, lunch/<br />
dinner coupons and others.<br />
“With a view to unlocking the<br />
country’s tourism potential, we<br />
launched this event 16 years back,<br />
and since then we are holding this<br />
fair as a regular annual event,” said<br />
Wahidul Alam.<br />
“We believe that Dhaka Travel<br />
Mart has been playing a very supportive<br />
role in the development of<br />
country’s tourism sector.”<br />
For a sustainable tourism sector<br />
and for attracting more foreign<br />
tourists, a lot more things need to<br />
be done, he said, adding that first<br />
of all appropriate tourism products<br />
need to be identified and promoted<br />
them worldwide. •<br />
ECB optimistic about global deal<br />
on bank rules<br />
• AFP, Frankfurt<br />
Regulators at the European Central<br />
Bank said they are “optimistic”<br />
that talks on harmonising rules for<br />
banks around the world will soon<br />
end in a deal.<br />
The so-called “Basel III” round<br />
of banking talks has stalled in recent<br />
months as negotiators battle<br />
over questions like how big banks’<br />
capital reserves should be and how<br />
they should judge risk.<br />
Observers feared that Donald<br />
Trump’s incoming adminstration -<br />
seen as favouring looser regulation of<br />
banks and distrustful of multilateral<br />
cooperation - would hold up the talks.<br />
But “I’m optimistic and positive”<br />
that a deal will soon be<br />
reached, top ECB regulator Sabine<br />
Lautenschlaeger said at a Frankfurt<br />
press conference.<br />
“I have not yet got any news<br />
from the US American colleagues,<br />
but I do see that all of us are very<br />
aware” of the need for standardised<br />
rules, she insisted.<br />
As proof, Lautenschlaeger<br />
pointed to a statement signed by<br />
G20 finance ministers at a meeting<br />
in Germany last week, committing<br />
the world’s most powerful countries<br />
- including the US-- to “finalise<br />
the Basel III framework”.<br />
“All of the compromises are on<br />
the table, and we just need to have<br />
a final meeting,” she said.<br />
Capital requirements have been<br />
at the heart of a European-US split<br />
over the draft banking rules.<br />
The US has favoured forcing<br />
banks to have more capital on<br />
hand, while European governments,<br />
regulators and finance<br />
groups fear stringent capital requirements<br />
will hobble their banks<br />
and economies. •