Dhaka, Bangladesh (BBN) - The BBN has prepared the morning business round up compiling reports, published by different newspapers and news portals in Bangladesh.
Tribunal moves on 1996 stock scam
The trial of a long pending case on 1996's stock market scam will start on Sunday in the special tribunal formed for quick disposal of stock market-related lawsuits. The case involves Rakibur Rahman, a former president of Dhaka Stock Exchange, and AS Shahudul Islam Bulbul, a former director of the premier bourse. The then government probe report found their involvement in the share market scam.
5pc AIT on coal import
Government's revenue authority is set to re-introduce 5.0 per cent advance income tax on coal import in a bid to help offset possible revenue shortfall from the target fixed in the new budget. Officials said the National Board of Revenue (NBR) has taken the decision to re-impose the tax following recent relaxation of restrictions on export of coal by India.
Gold prices drop further by Tk 1,225 a bhori
Jewellers have further reduced gold price by up to Tk 1,225 per bhori with effect from today because of the slumping prices of the precious metal on the international market. Bangladesh Jewellers Association on Wednesday announced the price cut of gold for the second time in two weeks. The price of 22-karat gold has been reduced to Tk 41,757 a bhori or 11.664 gram from Tk 42,982.
Bangladesh’s stocks end flat amid volatility
Bangladesh’s stocks ended flat in green on Wednesday amid choppy trading throughout the session as investors were remained on profit taking mood. The market opened lower with high fluctuation and finally closed in mixed trend. DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 2.14 points or 0.04 per cent to settle at 4,873.96. However, the two other indices closed in the red. The DS30 index, comprising blue chips, lost sharply 15.0 points or 0.78 per cent to finish at 1,889.75.
Airfares set to become costly
Overall airfares are set to be more expensive as the National Board of Revenue (NBR) is soon going to impose value added tax (VAT) on different charges, including embarkation, landing and boarding. However, a blame game is still going between the NBR and Civil Aviation Authority of Bangladesh (CAAB) over realising the proposed VAT. The revenue authorities have become desperate to expand the tax net to achieve the revenue target for the current fiscal year, which many consider a huge amount.
BB starts talks with banks on Basel III
Bangladesh Bank has taken an initiative to improve banks' financial health by increasing their capital adequacy ratio (CAR) in line with Basel III standards. Basel III is a comprehensive set of reform measures, developed by the Basel Committee on Banking Supervision, to strengthen regulation and supervision and reduce risks of the banking sector globally.
Dhaka-KL bilateral tradeset to rebound after fall
Malaysia External Trade Development Corporation (MATRADE) Chief Executive Officer (CEO) Dato' Dzulkifli Mahmud has expressed the hope that the bilateral trade between Bangladesh and Malaysia would increase by five per cent in the second quarter of the current fiscal year. "Bilateral trade will increase by five percent (in the second half of the year). This is my expectation," he told a press conference in Kuala Lumpur recently.
Global economic growth ‘to slow’
Global economic growth will slow this year to the lowest rate since the financial crisis, according to the National Institute of Economic and Social Research (NIESR). The think tank cut its 2015 forecast to 3.0 per cent from the 3.2 per cent it predicted in May, reports BBC. It has cut growth forecasts for the US and many emerging market economies, although its forecast for the eurozone has only been cut slightly. Its growth forecast for the UK economy was unchanged at 2.5 per cent.
BBN/SSR/AD