Dhaka, Bangladesh (BBN) - The BBN has prepared the morning business round up compiling reports, published by different newspapers and news portals in Bangladesh.
Regulator moves to revive capital mkt
The securities regulator has taken several decisions including the extension of the timeframe for provision against unrealised losses, incurred by merchant banks and brokerage firms, in an effort to revive the country's capital market, officials said. Merchant banks and brokerage firms were apprised of the decisions at an urgent meeting held at the office of the Bangladesh Securities and Exchange Commission (BSEC) on Monday evening.
Businesses complain of harassment by taxmen
Businesses yesterday complained of harassment by revenue officials for tax collection, saying they want to pay tax with dignity and in a proper and transparent manner. Some business leaders alleged that field-level officials sometimes misbehaved with taxpayers. They also alleged that the officials continue to chase those who already pay taxes instead of putting in efforts to bring in the still untaxed population and businesses under the tax net.
BB warns 25 banks of action
Bangladesh Bank has warned 25 banks of financial punishment for providing inaccurate data even after the central bank asked them to give certified data. BB officials said that the central bank recently found that the banks were trying to dodge the central bank by submitting wrong information to its Integrated Supervision Software to avoid exposure of their defaulted loans and corruptions.
BDT down by 04 paise against US$ Monday
Bangladesh Taka (BDT) depreciated by 04 paise to maximum 78.27 against the US dollar on Monday following higher demand for the US currency from importers. The US dollar was traded at BDT 78.26- BDT 78.27 in the inter-bank foreign exchange market on the day against BDT 78.23 of the previous working day, according to treasury officials.
Most RMG factories found safe in government inspection
The government’s inspection has found safety shortcomings in 274 of the garment factories not inspected by Accord or Alliance. A report published yesterday has recommended detailed engineering assessment and remediation measures to make the 274 factories safe for workers. The inspection results, however, showed most of the factories were safe.
BB prefers 30-day bill than reverse REPO
The central bank of Bangladesh prefers its 30-day bill than reverse REPO for mopping up excess liquidity from the market, officials said. The Bangladesh Bank (BB), the country’s central bank, withdrew BDT 58.70 billion from the market using its 30-day bills on Monday. The rate of weighted average yield of the accepted bids was 3.39 per cent, according to the auction result.
Bangladesh’s stocks plunge for four-day
Bangladesh’s stocks extended their losing streak for the fourth sessions on Monday as investors continued on selling mood. Both the Dhaka Stock Exchange, the prime bourse of Bangladesh, and Chittagong Stock Exchange, the port city bourse of the country, nosedived. The prime index of the Dhaka Stock Exchange (DSE) plunged 26.24 points and the port city bourse Chittagong Stock Exchange (CSE) slumped 68.76 points.
Trade with China crosses $9b
Bangladesh's annual bilateral trade with China crossed $9.0 billion (900 crore) mark for the first time in the last fiscal year (FY15). At the same time the trade gap with the country also surged while that with India declined. The trade deficit with China widened to $7.42 billion in the last fiscal year from $6.8 billion in the FY14.
BBN/SSR/AD