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.
LARGE LOAN RESTRUCTURING: FAVOUR PROVES FUTILE
On January 29, 2015, the Bangladesh Bank issued a new large loan restructuring policy to stand by big borrowers in trouble. The policy, which was taken under political pressure from influential debtors, offered a repayment period of up to 12 years, discounted interest rates and down payment as well as repayment in quarterly instalments.
Govt gives nod to further cut on RMG export tax to 0.25pc
Readymade garment exporters are set to receive a huge tax benefit just before the national elections as the government has decided to reduce the rate of source tax on export earnings further by 58 per cent. Finance minister Abul Maal Abdul Muhith has already conveyed his consent to National Board of Revenue to reduce the source tax to 0.25 per cent from current 0.60 per cent.
BB: Bank deposits rose by Tk7,85,938cr in last 10 years
Total deposits of all banks in Bangladesh have increased by Tk7,85,938 crore—along with the growing number of bank accounts—over the last ten years. Bank deposits stood at Tk10,38,694 as of June this year, up from Tk2,52,756 crore in 2008, according to a special report of Bangladesh Bank (BB).
Bangladesh’s industrial imports rise 10.27% in Q1
Bangladesh’s overall import for industrial sector grew by 10.27 per cent in the first quarter (Q1) of this fiscal year (FY) following a 21.31 per cent increase in import of construction materials as intermediate goods. The actual import for the sector in terms of settlement of letters of credit (LCs) rose to US$9.67 billion in the July-September period of FY , 2018-19 from $8.77 billion in the same period of the previous fiscal, according to the central bank’ latest report.
Bangladesh’s stocks slump as major sectors plunge
Bangladesh’s stocks ended lower last week that ended on Thursday as risk-averse investors sold share throughout the week amid political tension. DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 81.79 points or 1.53 percent to settle the week at one-month low to 5,251.
Qatar eager to hire more BD workers next year
Qatar is expected to recruit more Bangladeshi workers in 2019 to meet its growing demand for development works, said officials. As part of the move, the Arab country has opened a one-stop Qatar Visa Centre (QVC) in Dhaka while it will open another visa centre in Sylhet soon to ease visa services for Bangladeshi nationals seeking jobs in the gulf state, said officials at the expatriates' welfare and overseas employment (EWOE) ministry.
Shipment falls for anti-export policy
Despite being a promising export item, shipment of garment scrap, locally known as jhoot, fell last fiscal year mainly due to the government's anti-export policy amid rising local consumption and a Chinese ban on import, industry people said.
Election boosts printing press business
After the allocation of election symbols, the pressure of printing the election campaign materials of candidates has increased significantly. Printing presses are now under pressure to print materials like posters, handbills, paper caps, leaflets, stickers and badges.
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