Photo : lifegate.com.
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.
Government ponders new PSCs for oil and gas exploration
After facing criticism for leasing gas blocks to foreign firms through a special provision instead of through competitive tenders, the government is set to formulate separate models for offshore and onshore production sharing contracts (PSCs) with a view to awarding tenders to international oil companies (IOCs) for oil and gas exploration. The Energy and Mineral Resources Division has called for a meeting at the headquarters of the Bangladesh Oil, Gas and Mineral Corporation (Petrobangla) today with a view to discussing the PSCs, which may include increased prices of gas in order to attract bids.
I feel ashamed
Finance Minister AMA Muhith is “ashamed” of the fact that bad debts in state-owned banks stand at 27 percent, nearly triple the national average. The national average of such loan is 10 percent in all the banks combined -- eight state-run and 50 private and foreign commercial banks. As of June this year, the total national default loan is Tk 74,194 crore, of which Tk 40,100 crore is in the eight state banks -- six commercial and two specialised.
Ministry seeks Tk 10,000cr scheme like BB’s EDF
The textiles and jute ministry has sought a Tk 10,000-crore export promotion fund for the jute sector so that jute and jute goods exporters can get low-interest loans from the fund. The ministry recently sent a letter to the finance ministry and Bangladesh Bank in this connection. In the letter, the textiles and jute ministry said exporters, who produce products using imported raw materials, are getting loans at only two per cent rate of interest from the BB’s Export Development Fund but the jute and jute goods exporters are not eligible for the loans as they make their products using only local raw materials.
Internet banking transactions jump by 40pc in FY17
Annual transaction of the country’s internet banking in the past fiscal year (FY17) posted a robust 40 per cent growth over the previous fiscal year (FY16). Latest statistics of the central bank showed the total transaction at Tk 357.53 billion in the past fiscal year and at Tk 255.24 billion in FY16.
Weekly review: Bangladesh’s stocks return to green
Bangladesh’s stocks returned to the green last week that ended on Thursday, after a single-week break, as investors took position on sector-specific large-cap stocks. Analysts said the market closed positive amid increased turnover as optimistic investors showed their buying appetite on sector-wise stocks while cautious investors opted for booking profit ahead of Eid Festival.
NBR to ask 5 luxury hotels to pay Tk 100cr in SD on alcohol sales, floor shows
The National Board of Revenue is likely to ask five luxury hotels to pay around Tk 100 crore in supplementary duty on alcohol sales and floor shows as the hotels lost a legal battle in this connection in the country’s apex court. The large taxpayers unit of value-added tax wing of the NBR may issue separate notices to the hotels within a day or two asking them to pay the amount immediately to the government exchequer, officials said.
Cattle insurance essential: analysts
Farmers, particularly cattle rearers, suffer from losses for death of animals from natural calamities like flood and cyclone in the absence of insurance coverage, analysts said yesterday. “The prices of animals have increased significantly. Under the circumstances, the death of a cow causes huge losses to farmers,” said Md Ainul Haque, director general of the Department of Livestock Services (DLS). Haque's comments came at a seminar styled 'cattle economy: problem and prospects', organised by the Bangladesh Agricultural Journalists and Activists Federation at the Press Institute of Bangladesh.
Biman to borrow $516.34m to make ‘delivery payment
Biman Bangladesh Airlines (BBA) will borrow US$ 516.34 million to make final payment against the delivery of four passenger aircraft as part of its move to rebuild its fleet, officials said. The national flag carrier has already made pre-delivery payment (PDP) to the US-based Boeing for the procurement of last four Boeing aircraft as per agreements under the government's sovereign guarantee, they added.
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