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.
Prices up on high demand
Prices of some essentials whose consumption goes up during Ramadan are on the rise already despite adequate supply, much to the worries of the consumers. Prices of chickpea, sugar, garlic, lentil and cooking oil have jumped up compared with those a year or a month ago, according to the prices quoted in the market data of the Trading Corporation of Bangladesh (TCB) yesterday.
Consultant presents ‘remediation plan’
A presentation has shown pathways to ensure foolproof IT security system in the country’s central bank to avert any sort of cybercrime in future. IT consultant of Bangladesh Bank (BB) Rakesh Asthana made the presentation at its board of directors meeting held at BB headquarters with Governor Fazle Kabir in the chair.
Bangladesh’s NBFIs allowed issuing Commercial Paper
The central bank of Bangladesh has allowed the non-banking financial institutions (NBFIs) to collect fund from banks, corporate entities and other NBFIs through issuing Commercial Paper (CP). The Bangladesh Bank (BB), the country’s central bank, issued a guideline in this connection on Sunday saying that now-a-days CP Commercial Paper (CP) is emerging as a new money market instrument to corporate houses in Bangladesh and subsequently Financial Institutions along with banks are getting involved in CP in different ways.
Budget fixed at Tk3,40,605cr with big pension fund allocation
The government has prepared a total budget figure of Tk3,40,605 crore for the upcoming fiscal year beginning from July keeping a sizable amount against the state liabilities including pension fund. A total of Tk47,564 crore has been set aside with finance ministry as most of the fund will be used to fulfill the state’s various liabilities in the FY2016-17, official sources disclosed to the Dhaka Tribune.
Mega-projects to get Tk 18,700cr
The government will announce a separate roadmap for the first time for 10 mega-projects, for which about Tk 18,700 crore will be allocated in the upcoming budget. The estimated total cost for the 10 projects is Tk 340,214 crore, or $43.61 billion — which is equivalent to the proposed budget for next fiscal year.
BB questions logic behind levying tax on banks’ commission income
The Bangladesh Bank (BB) has a fear that levying of 25 per cent tax on commission for scheduled banks on sales of prize bond and different saving instruments would leave a negative impact on the government’s domestic borrowing.
Looking back: FY 2015-16: Slow implementation of ADP continues
The government continued to fail to speed up the implementation of the annual development programme even in the outgoing financial year despite repeated assurance mainly because of lack of institutional capacity and inefficiency of government officials. ADP implementation became one of the weakest areas in the outgoing 2015-16 financial year and the performance of the implementing agencies in execution of the development budget in the first 10 months plunged to a seven-year low.
Bangladesh’s DSEX crosses 4,400-mark again
Bangladesh’s stocks extended gaining streak for the second running session on Sunday with prime index of the Dhaka Stock Exchange (DSE) crossing the 4,400-mark as optimistic investors went on buying spree. Both the Dhaka Stock Exchange, the prime bourse of Bangladesh, and Chittagong Stock Exchange, the port city bourse of the country, started with an upward trend which sustained till end of the session.