File photo: Wall Street Journal
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.
Mobile phone call rates likely to rise
The Bangladesh Telecommunication Regulatory Commission (BTRC) has submitted a proposal to the government to increase mobile call rates despite comments from the Post and Telecommunications Minister Tarana Halim in June suggesting that call rates could go down. The proposal was returned to the BTRC for reconsideration, but the Association of Mobile Telecom Operators of Bangladesh (Amtob) has claimed the BTRC had not consulted the industry before sending its request.
Fish revolution
With a 25-fold growth in farmed fish market over the last three decades, Bangladesh has been experiencing a quiet revolution in aquaculture. The country grows nearly 20 lakh tonnes of farmed fish a year, and an overwhelming 75 percent of the farmers sell fish to wholesalers.
ACC spares ex-chair Bacchu from prosecution process
Former BASIC Bank chairman Sheikh Abdul Hye Bacchu has been left out of the Anti-Corruption Commission’s entire process of investigations into the sensational swindling of over Tk 2,500 crore from the state owned bank by way of extending fictitious loans to little known and non-existent borrowers. The ACC had filed 56 cases into the numerous swindling that took place from 2009 to 2012, virtually shattering BASIC Bank, when Bacchu was it chairman enjoying full political backing.
Imports rise by over 10% in FY 17
The country’s overall imports grew by more than 10 per cent in the fiscal year (FY) 2016-17 because of higher capital machinery import, officials said. “The overall imports may increase further in the current fiscal year because of rising trend in food grains import,” a senior official of the Bangladesh Bank (BB) told BBN in Dhaka while explaining the latest situation on imports. The actual import in terms of settlement of letters of credit (LCs) grew by 10.47 per cent to US$ 44.27 billion during the July-June period of FY 17 from $40.08 billion in the same period of the previous FY.
Bangladesh’s stocks down on profit booking
Bangladesh’s stocks slipped into the red on Tuesday, snapping a two-day rally, as risk-averse investors opted for profit on quick-gaining stocks. Following the previous two days’ upward trend, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened lower amid slow trading activities. Within first 15 minutes of trading, the key index of the country’s prime bourse more than 7.0 points while the Selective Category Index of port city bourse lost 4.31 points at 10:15am.
Japanese businesses keen to invest in Bangladesh
Japanese businesses have keen interest to invest in Bangladesh as they have got rid of the fear in the wake of terrorist attack on Holey Artisan Bakery in 2016, speakers said at a press briefing on Tuesday. Bangladesh Investment Development Authority organised the press briefing at a city hotel to apprise the media of the outcome of Bangladeshi high-profile business delegation’s visit to Singapore where they attended a Business-to-Business (B2B) Conference with Japanese businesses.
Western retailers urge Hasina to address labour issues
The Foreign Trade Association, a Brussels-based organisation of global retailers, sent a letter to Prime Minister Sheikh Hasina urging her to settle the outstanding labour issues in the country. “The European Union, Bangladesh's largest trading partner, is highly concerned about the respect of fundamental human and labour rights in your country,” said the letter that was sent to the prime minister last month.
NBR seeks extension of time, cost for VAT online project
The National Board of Revenue has sought the government’s approval to a proposal to extend time and cost for the VAT Online Project following suspension of new VAT law for two more years. The project needs to be extended for two years until 2021 by increasing the cost by Tk 100 crore for the implementation of the Value-Added Tax and Supplementary Duty Act-2012 which was supposed to come into force from this fiscal year, officials said.
BBN/SSR/AD