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.
Negative remittance growth may dampen domestic demand
Falling remittance inflow registers a negative growth that might cast some dampening effects on domestic demand, according to the central bank. An expected growth in private-sector credits and a fresh wave of capital-machinery import indicated buoyant domestic demand, the Bangladesh Bank observed in its latest quarterly report on the country’s economic health.
Govt repays banks Tk 25,785cr in Jul-Mar with costly NSC loans
The government repaid bank loans amounting to Tk 25,785.55 crore in nine months (July-March) of this financial year as it continues taking loans through selling national savings certificates and bonds which carry high interest rates. According to the Bangladesh Bank data released on Sunday, the government repaid Tk 8,120.98 crore to the scheduled banks and Tk 17,664.57 crore to the central bank in the nine months of the FY 2016-17 against its previous loans, making the government’s overall bank borrowing negative of Tk 25,785.55 crore.
Economic zones get priority in new Indian credit
Developing special economic zones will be one of the agendas of the new $4.5 billion Indian line of credit to Bangladesh, extended during Prime Minister Sheikh Hasina’s three-day visit to New Delhi. A total of 17 projects have been identified by the two sides for implementation under the line of credit, the third from India.
Indo-Bangla joint statement: Dhaka asks for interim deal on Teesta
Dhaka on Saturday requested New Delhi for an “interim agreement” on Teesta water as agreed upon by both the governments in January 2011, said a joint agreement issued after Prime Minister Sheikh Hasina’s talks with counterpart Narendra Modi in the Indian capital. According to the statement, the Bangladesh premier made the request during the official talks with Modi, who said his government was working with all stakeholders in India for an early conclusion of the agreement.
Bangladesh’s stocks down further amid sluggish turnover
Bangladesh’s stocks extended the losing streak for the third day in a row on Sunday as cautious investors continued to book profit on sector specific large-cap stocks. Brokers said sell-off on sector specific large-cap issues, especially from bank, financial institutions and power sectors dragged the market down for another session.
Bourses want three-year tax-break on yearly income
Country’s bourses demanded a three-year tax-break on their annual incomes for the sake of their ‘financial stability’ after the demutualisation, besides other sorts of fiscal stimulus. To this effect, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) authorities called for extension of the existing tax-holiday facility for the stock exchanges in the budget for the fiscal year (FY) 2017-18.
Indian policy hinders direct electricity import
India has introduced a guideline that would bar Bangladesh from directly importing electricity from Nepal or Bhutan through Indian territory as the guideline allows no such electricity transit. In December 2016, Indian power ministry issued the Guidelines on Cross Border Trade of Electricity. The set of guidelines does not allow neighbouring countries to import electricity directly from another neighbouring country through India, said power division officials.
Indian private sector to invest $9.0b in BD
The Indian private sector has signed a number of agreements that will result in investment of over US$9.0 billion in Bangladesh. Both sides expressed satisfaction over the growth in trade and investment in the recent years.