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.
Reserve heist: Plan to file forfeiture case against Philippines casino
The government is likely to file a civil forfeiture case against Philrem Money Remittance Limited and Philippine casino named Solaire Casino if necessary to bring back the rest of the stolen Bangladesh Bank money Bank and Financial Institutions Division has already informally communicated the matter to the Anti-Money Laundering Council, according to official sources. In the absence of Finance Minister AMA Muhith, State Minister for Finance and Planning MA Mannan will discuss the matter today in the Parliament.
Most RJSC-registered cos evade tax payment
A vast majority of registered companies across the country do not submit annual income-tax returns, thus evading payment of a significant amount of revenue to the government. According to National Board of Revenue (NBR) data, 39,000 companies submitted income-tax returns last year out of 138,000 registered with the Registrar of Joint Stock Companies and Firms (RJSC).
Green energy schemes need a push: analysts
The government should incentivise green energy schemes in order to achieve the goal of producing 10 percent of total power through renewable sources by 2021, said industry stakeholders yesterday. At present, 200 megawatt of electricity is generated from renewable sources, meaning an additional 1,800 MW of power needs to be produced from green sources over the next five years to attain the goal.
Prices of rice jump by 20pc in Sept
The prices of rice jumped more than 20 per cent or Tk 6-8 a kilogram in September, augmenting the sufferings of poor and lower middle-income groups of people already hit by soaring commodity prices. Traders said that the prices of rice started to rise before Eid-ul-Azha, which was celebrated on September 13, and the price of coarse variety of rice witnessed the highest jump in last month. They said that the prices of rice increased by Tk 200-Tk 400 a bag (50 kg) in last one month.
Bangladesh’s stocks end higher for third week
Bangladesh’s stocks ended higher for the three consecutive weeks that ended on Thursday as investors continued on buying spree amid optimism. Brokers said the market maintained the upward trend with increased turnover value, as institutional investors, including some global fund managers, were active on both sides of the trading fence almost throughout the week.
ADP off to a slow start
The ministries and divisions put to use 3.86 percent of their total outlay in the first two months of the fiscal year, up from 3 percent they managed a year earlier. The slight increase would come as a setback to the government, which has taken a host of initiatives over the last two to three years to bump up development spending. Between July and August, Tk 4,756 crore was spent from the annual development programme allocation, in contrast to Tk 3,348 crore a year earlier.
Many lobby with doctored documents for contracts
Many upstart entrepreneurs got into a rat race and were lobbying government high-ups to clinch contracts for new oil-fired independent power plants (IPPs) even allegedly with doctored documents. Industry-insiders say such frenzied move is fuelled by promise of high-yielding business in power deals.
India tax evasion amnesty uncovers hidden billions
A tax evasion amnesty in India has prompted tens of thousands of people to declare more than $9.5bn (£7.3bn) in undeclared income and assets. Finance minister Arun Jaitley said the four-month window that ended on Friday brought in 64,275 declarations, reports BBC. All were offered immunity from prosecution in return for paying tax, a surcharge and a penalty.
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