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.
Govt planning to reduce gas supply to captive power plants
The government is planning to gradually reduce the gas supplied to captive power plants and divert it to public and private power plants and industries instead. A captive power plant is a localized power generation facility solely used by a commercial or industrial consumer.
Take steps against GP over VAT claims
The Large Taxpayers Unit has requested the capital market regulator to take legal measures against Grameenphone for not keeping provision in its accounts against state's VAT claim of Tk 2,015 crore. The move comes at a time when Grameenphone's stock has been on an upward trajectory and even hit an all-time high of Tk 500 on Tuesday.
BD to be leading actor in global footwear market, say experts
Bangladesh will become a leading player in the global footwear market using its exclusive advantages, like - availability of raw materials, affordable labour, foreign investment-friendly policies, and priority on leather as an export sector here, experts opined on Wednesday. They also said the footwear industry contributes around 1.54 per cent of the country's total export earning with an average yearly growth of around 29.8 per cent during the last five years.
Bangladesh Bank sells $6.0m more to two banks
The central bank of Bangladesh has sold US$ 6.0 million more to two commercial banks directly to meet the growing demand for the greenback in the market. “We’ve sold the US currency to the commercial banks at market rate on Wednesday to settle their import payment obligations,” a senior official of the Bangladesh Bank (BB), the country’s central bank, told BBN in Dhaka.
Alliance wants ‘credible, independent body’
Alliance for Bangladesh Worker Safety, a platform of North American fashion brands and buyers, wants to hand over its safety programme in Bangladesh’s readymade garment factories to a local body that should be independent and credible.
Lenders oppose WB move to make movables into surety
A World Bank move to make intangible movables such as 'accounts receivables', 'intellectual property', 'derivatives products' into collateral against credits faced opposition from lenders in Bangladesh. BLFCA, a group of 34 non-bank financial institutions (NBFIs), argues that in Bangladesh accounts receivables are yet to be reliable assets as many may abuse it by overestimating the amount of receivables.
Smartphone sales tepid
Smartphone sales failed to hit expectations in the first nine months of the year, because of a rise in import duty, recurrent floods and heavy rains. In the period, 64.55 lakh units of smartphones were imported -- almost equivalent to that in the same period last year, according to Bangladesh Mobile Phone Importers Association (BMPIA).
Atiur for enhancing cooperation in South Asia
Former Governor of Bangladesh Bank (BB) Atiur Rahman said regional cooperation and integration is the way forward for Asian economies despite heightened uncertainty of the global economy. “Yet South Asia as a region lags way behind in this regard compared to EU, NAFTA and ASEAN. To enhance cooperation & integration in South Asia, intra-regional investment must be increased significantly and as fast as possible,” Dr. Rahman said while addressing at a ‘Tenth South Asia Economic Summit’ held in Kathmandu on Wednesday.
BBN/SSR/AD