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 slips one step in doing business ranking
Bangladesh has slipped to 177 from 178 among 190 economies in the latest tally of the ease of doing business prepared by the World Bank The Doing Business 2018 report, released Tuesday night, revealed the scenario. The World Bank report covered the period from June last year to June this year.
Does Bangladesh need more banks?
The government is planning to increase the number of banks in Bangladesh at a time when the nine most recently-launched institutions are already unsettling the market over their poor performances. Finance Minister AMA Muhith has personally written to Bangladesh Bank for the approval of two new institutions. Other government agencies and senior officials have also put forward their proposals for new banks to the central bank.
NBR asks BB to freeze Premier Bank account
The National Board of Revenue on Tuesday requested the Bangladesh Bank to freeze the bank accounts of Premier Bank Ltd for recovering Tk 20.10 crore ‘evaded’ by the bank, said NBR officials. Large Taxpayers Unit (Value-Added Tax) of the revenue board made the request to central bank governor Fazle Kabir to freeze the bank’s current account for three working days to realise the VAT.
Ride-hailing accelerates
The popularity of ride-hailing apps Uber and Pathao that brought in convenience in commuting within Dhaka is tempting other local and international players into the field and compelling the existing ones to expand their services. For instance, a new player Ezzyr is set to hit the Dhaka roads this month, said Kamrul Hassan Imon, a director of Innovadeus Pvt Ltd, the app's parent company.
Bangladesh Bank sells $16m more to three banks
The central bank of Bangladesh has sold US$16 million more to three commercial banks directly to meet the growing demand for the greenback in the market. “The central bank has sold the US currency to the banks at market rate on Tuesday to settle their import payment obligations,” a senior official of the Bangladesh Bank (BB), the country’s central bank, told BBN in Dhaka.
Exports of non-RMG items buoyant
Shipments of non-apparel items rose 7.49 percent year-on-year to $1.51 billion in the first quarter of the fiscal year as the country is diversifying its export basket to cut reliance on garments. Tea, frozen fish, jute and jute goods, leather and leather goods, furniture, ceramics, shrimps, vegetables, bicycles and terry towel performed better in the export markets during the quarter from a year earlier.
America’s Chevron comes first under taxmen’s file search
Taxmen started checking payroll status of foreign workers in Bangladesh through visiting corporate taxpayers' offices, and an oil giant came first under the probe. A taskforce team of the National Board of Revenue (NBR) Tuesday visited the US oil-and-gas company Chevron in Dhaka to crosscheck their actual number of foreign workers with the furnished data.
First joint feasibility study meeting likely this month
A joint feasibility study meeting on a possible bilateral free trade agreement between Bangladesh China is likely to be held this month in Beijing to identify the benefits and impacts that might accrue from the FTA. The Chinese authorities have recently sent a letter to Bangladesh government attaching terms of reference and outline of the joint feasibility studies on possible FTA in accordance with memorandum of understanding signed between the two countries during the visit of Chinese president Xi Jinping in October last year.
BBN/SSR/AD