Finance Minister AMA Muhith

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.

Muhith hints at corporate tax cut, power tariff rise
The price of electricity is likely to increase further in the days ahead due to the increase in the price of relevant raw materials, Finance Minister AMA Muhith has said. “Electricity price would go up in the near future”, the Finance Minister said while speaking at a television programme on the upcoming budget on Tuesday.

BB expects higher growth despite three risks in economy
The central bank of Bangladesh expects higher growth in near term despite three risks in the economy. “Looking ahead, supported by both domestic and external demand, output growth is expected to be strong,” the central bank said in its latest Bangladesh Bank Quarterly (BBQ) for October-December 2017.

Rules relaxed to save Farmers Bank
Bangladesh Bank has relaxed three articles of the Bank Company Act 1991 to facilitate the purchase of shares worth Tk 715 crore by four state lenders and one financial institution in Farmers Bank and steady the beleaguered bank. Four banks — Sonali, Janata, Agrani, Rupali — will now inject Tk 165 crore each and the Investment Corporation of Bangladesh Tk 55 crore as fresh equity into Farmers Bank.

Banks can give securities custodian services directly: BB
The Bangladesh Bank has allowed banks to provide securities custodian services directly without forming any subsidiary company. The central bank’s decision will come into effect from July 22, said a circular of BB on Tuesday.

BIBM study: 85% of bank loans in 2017 disbursed in Dhaka and Chittagong
A total of 85.74% of the credits disbursed by banks in Bangladesh in 2017 was concentrated in only two divisions – Dhaka and Chittagong, according to a latest research finding of Bangladesh Institute of Bank Management (BIBM). 66.7% of all the loans were issued in Dhaka alone, and 19.04% were issued in Chittagong.

Bangladesh’s stocks extend losses for fifth straight day
Bangladesh’s stocks the bearish spell for the five consecutive sessions on Tuesday as investors continued their selling binge on banking and telecom stocks.

Protection tariffs force consumers to pay $70b more in 5yrs: study
Bangladeshi consumers paid about $70.6 billion more than the international prices of imports and import substitutes in last five years due to industrial protection tariffs, a study conducted by the Policy Research Institute of Bangladesh found.

Next budget won’t be typical, says NBR chairman
The upcoming national budget will not be a typical one as the National Board of Revenue (NBR) is preparing it in a participatory manner, said NBR chief Md Mosharraf Hossain Bhuiyan on Tuesday. The NBR is framing the fiscal policy through discussion with people from all strata including investors and think tanks he said while speaking at a luncheon meeting of the American Chamber of Commerce in Bangladesh (AmCham) at a city hotel.

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