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.
Falling interest rates on deposits erode NBR's tax receipts
Sliding interest rates on deposits have taken a toll on the National Board of Revenue's takings from savers -- a development that taxmen say might not lead to growth in collections this fiscal year. The tax authority logged in about Tk 4,400 crore as tax from interest income from bank deposits in the first ten months of the fiscal year. The amount is 72 percent of last year's takings of Tk 6,075 crore.
Bangladesh scrutinising credit flow to know impact on economy
The central bank of Bangladesh is scrutinising the flow of private sector credit for assessing its impact in the country’s overall economic growth. The Bangladesh Bank (BB), the country’s central bank, is now conducting a study in this connection to achieve maximum economic growth through proper use of credit.
Refinancing scheme demanded to boost real estate sector
Realtors have demanded stimulus package and reinstatement of a single-digit refinancing scheme for the country’s housing sector to overcome crucial time gripping the real estate business. The apex body of the housing sector also demanded tax holiday for the next five years for realtors making construction within the capital and 10 years for outside the city areas.
Most of 1,163 closed member factories of BGMEA non-existent
Most of the 1,163 member factories the Bangladesh Garment Manufacturers and Exporters Association found closed during a recent survey are non-existent but they (readymade garment factories) still enjoy the membership of the BGMEA thanks to ballot politics. According to a number of BGMEA members, the non-existent factories maintain their membership by paying annual subscription fees to the trade body.
BSRM Steels raises Tk 245cr through zero-coupon bonds
BSRM Steels, a unit of Chittagong-based BSRM Group, raised Tk 245 crore through what has been the largest issue of zero-coupon bonds by a company in Bangladesh yet. A zero-coupon bond, also known as discount bond or deep discount bond, is bought at a price lower than its face value, with the face value repaid at the time of maturity.
Bangladesh’s stocks edge down with volatility
Bangladesh’s stocks edged lower on Sunday after witnessing volatility, as late selling pressure wiped off early gains. After witnessing volatile trading, DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), settled at 4,409.40, losing 9.58 points or 0.22 per cent. The DS30 index, comprising blue chips, fell 0.66 point or 0.04 per cent to end at 1,737.40 points.
Petrobangla gets no opinion from local firms
India's Reliance Oil & Gas is the lone organisation that has submitted its opinion on the draft Private Sector LNG Import Policy. The government is formulating the policy to encourage and facilitate import of LNG (liquefied natural gas) by private sector, Petrobangla officials said.
Banks asked to deduct 0.03% from RMG export proceed from July 1
The central bank of Bangladesh asked the lien banks concerned to deduct 0.03 per cent from each readymade garment (RMG) export proceed from July 1 next. Under the new provisions, the banks will have to transfer the deducted amount to the account namely ‘Central Fund (RMG Sector)’ within seven working days of the deduction, according to a notification, issued by the Bangladesh Bank (BB), on Sunday.
BBN/SSR/AD