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.
Transit gets operational
Transit between Bangladesh and India is set to become fully operational with the first Indian consignment reaching Ashuganj tomorrow on its way to north-eastern Indian state of Tripura. A Bangladeshi ship carrying the consignment of 1,000 tonnes of corrugated iron sheets started from Kolkata on June 3. Anbis Development Ltd, a Bangladeshi operator, hired the ship to carry the goods from Kolkata to Ashuganj, said its General Manager Mahmud-ur Rahman Siddiqui.
DELHI TRADE TALKS: Dhaka raises a dozen non-tariff barriers
Dhaka raised a dozen non-tariff barriers, including lack of infrastructure and facilities in land customs stations, affecting businesses with New Delhi at bilateral trade talks in the Indian capital in the past week, commerce ministry officials said. The two-day Bangladesh-India joint working group meeting on trade ended on June 9 resolving to address para-tariff and non-tariff barriers to both way trade, ministry of commerce joint secretary Munir Chowdhury told New Age on Monday.
Competition Commission yet to be fully functional
The Bangladesh Competition Commission (BCC) is yet to start functioning in full swing due to ‘undue’ delay in preparing its organogram and necessary rules, officials said. Though the government has appointed Md Iqbal Khan Chowdhury as the chairman of the commission, the process of appointment of members has not been finalised yet, making an unwanted delay in its functions and depriving the consumers of their rights.
Bangladesh inflation eases to 5.45% in May
Inflation in Bangladesh fell for the second month in a row to May as both food and non-food prices turned cheaper, according to the official data released yesterday. Month to month inflation fell 1.44 percentage points to 5.45% in May from 5.61% in April, the Bangladesh Bureau of Statistics (BBS) data shows.
NBR’s revenue receipts rise 14pc in April
Revenue collections by the National Board of Revenue rose 14 percent year-on-year to Tk 13,905 crore in April, thanks to increased receipts from income tax and external trade-related activities. Income tax receipts surged 42 percent year-on-year to Tk 5,348 crore in April, according to the provisional data released by the NBR yesterday.
Bangladesh’s stocks extend losses for third day
Bangladesh’s stocks extended losses for the third session in a row on Monday as most of the investors remained followed cautious approach. After witnessing volatile trading, DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), settled at 4,405.40, shedding 3.99 points or 0.09 percent.
BB intensifies US dollar purchase from banks
The central bank has intensified further the buying of US dollar from banks to keep the inter-bank foreign exchange market stable ahead of the Eid-ul-Fitr festival, officials said. Under the latest move, the Bangladesh Bank (BB) bought US$50 million from four commercial banks Monday directly to protect the interests of exporters and migrant workers by keeping the exchange rate of local currency against the greenback stable.
ADP implementation hits 8-year low in 11 months
The government’s development expenditure in the first 11 months of the current fiscal year hit eight-year low as only 61.85 per cent of the revised annual development programme has so far implemented, planning ministry data showed. The sluggish trend in implementation of the annual development programme in July-May has put the possibility of full implementation of the revised ADP in doubt, experts and officials said.