Commerce minister Tofail Ahmed, India’s finance minister Arun Jaitley, India’s high commissioner in Dhaka Harsh Vardhan Sringhla and FBCCI president Shafiul Islam Mohiuddin are seen at ‘Bangladesh India Business Meeting’ organised by the FBCCI at the Sonargoan Hotel in Dhaka on Tuesday. Photo: New Age
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.
Dhaka again seeks removal of Delhi’s countervailing duties
Dhaka has reiterated its demand for removing countervailing duties on Bangladeshi products by New Delhi for narrowing yawning trade gap which is heavily in India’s favour. Both commerce minister Tofail Ahmed and Federation of Bangladesh Chambers of Commerce and Industry president Shafiul Islam Mohiuddin made the call during a meeting attended by visiting Indian finance minister Arun Jaitley held in Dhaka on Tuesday.
Bangladesh-India to sign $4.5bn 3rd LoC deal Wednesday
Bangladesh will sign US$4.5 billion third Line of Credit (LoC) agreement with India on Wednesday in presence of Finance Minister AMA Muhith and Indian Finance and Corporate Affairs Minister Arun Jaitley. Economic Relations Division (ERD) Secretary and Managing Director of Indian EXIM Bank will ink the agreement on behalf of their respective sides at the Finance Ministry in the city, officials said on Tuesday.
Muhith: Easing of credit conditions will dominate discussions with Indian finance minister
Bangladesh Finance Minister AMA Muhith has said relaxing the terms and conditions for the third line of credit (LOC) will be the focal point of his discussions with his visiting Indian counterpart, Arun Jaitley. Muhith also said there would be no discussions on India extending its relief aid to help Bangladesh manage the growing refugee crisis in the southeast of the country.
BB rejects City request to set up subsidiary in HK
Bangladesh Bank has declined to give City Bank the permission to set up a subsidiary company in Hong Kong given the declining imports from the Asian nation. The private bank in its application in October last year said it would provide trade financing amongst other services to its clients.
FPI in Bangladesh prime bourse jumps 450% in September
Net foreign portfolio investment (FPI) in Dhaka Stock Exchange (DSE) marked a 450 per cent rise month-on-month in September as overseas investors injected fresh funds. Market insiders said positive macroeconomic indicators and a stable political scenario boosted the foreign investors’ confidence to increase their positions in the Bangladesh capital market.
Interest rates on bank deposits increase
Interest rates on bank deposits increased further following higher credit growth particularly in private sector, officials said, citing latest disclosure. The weighted average interest rate on deposits rose to 4.93 per cent in August 2017 from 4.89 percent in July, according to the central bank's statistics released Tuesday.
BSEC okays Tk 20cr IPO of Indo-Bangla Pharma
Bangladesh Securities and Exchange Commission on Tuesday approved Tk 20 crore initial public offering of Indo-Bangla Pharmaceuticals Limited. BSEC gave the approval in a meeting presided over by its chairman M Khairul Hossain. Under the approval, the company will float 2 crore shares of at an issue price of Tk 10.
Commercial launch of metro rail likely to miss schedule
Some problems, including the ones in the bidding process, are likely cause substantial delays in launching of the much-publicised metro rail. Project sources said commercial launching of mass rapid transit line-6 (MRT-6) will not be possible by the end of 2019 as the project will get the first set of train by December 2020.
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