Dhaka, Bangladesh (BBN) – The BBN has prepared the morning business round up compiling reports, published by different newspapers and news portals in Bangladesh.
Jute exporters left in the lurch over India’s policy change
Bangladesh’s exports of jute and jute goods to India are in jeopardy after the neighbouring country revoked the licences of its importers and asked them to apply for new permits. As a result, hundreds of India-bound trucks loaded with jute and jute-made products were left stranded at different ports including Benapole in the last couple of days, according to our correspondent and Bangladesh Jute Association or BJA.
BRAC plans to buy 40% stake in IPDC
BRAC – the world’s largest non-government development organisation – plans to buy 40% stake in IPDC (Industrial Promotion and Development Company), a non-banking financial institution. In a share purchase agreement last week, IPDC majority shareholder and a Switzerland-based international development agency Aga Khan Fund For Economic Development (AKFED) has signed a deal with BRAC to sell its 40% out of 51% shares in IPDC, said the IPDC in a statement.
NBR launches scrutiny of pvt varsities’ tax profiles
Country’s private universities have paid 38 per cent of the total demanded income taxes in the last 15 years while a major part remained stuck in court cases. The tax authority, in an analysis, has found the private universities having paid an insignificant amount of Tk 477 million of actual payable income taxes since 1998-99.
Bangladesh’s stocks end with marginal gain
Bangladesh’s stocks closed with a marginal gain on Sunday amid choppy trading as investors were remained cautious. The Dhaka Stock Exchange, the key bourse of the country, obtained 8.15 points at closing while the Chittagong Stock Exchange, the port city bourse of Bangladesh, ended with 4.12 points.
Bangladesh students continue anti-vat demo
The students of different private universities in Dhaka continued their protest, blocking key streets and disrupting traffic movement on Sunday to eliminate the vat imposed on higher education. The Dhaka city dwellers were seen to walk in masses to reach their destinations. Sometimes, they resorted on rickshaws which were the lone mood of transport in the blockade-prone areas.
Bank for pensioners in the offing
The government is set to form two institutions — a bank and a separate entity — for running the pension fund for public servants, after the cabinet gave it the green light. At present, there is no specific authority for doing the pension-related work of about 520,000 pensioners in Bangladesh.
Steel millers, cement makers protest at energy price hike
Steel millers and cement manufactures on Sunday demanded that the government revoke the recent price hike of electricity and gas. Protesting at the price hike decision they said that the steel mills and cement manufacturing industries would be destroyed if the government did not reset the prices of electricity and gas in accordance with the previous rates.
Bapex selects four firms for oil and gas exploration
The joint venture between Bapex and the selected firm will come into effect during the production phase, with Bapex taking 30-35% of revenues State-owned Bangladesh Petroleum Exploration and Production Company Limited (Bapex) has selected four international oil and gas companies (IOCs) to jointly carry out exploration and development of several geological structures.