Dhaka, Bangladesh (BBN)– The BBN has prepared the morning business round up compiling reports, published by different newspapers and news portals in Bangladesh.
Falling fuel prices a boon to BPC, not consumers
The state-run Bangladesh Petroleum Corporation (BPC) earned a profit of Tk.1.50 billion (150 crore) during the first half the current fiscal year. The earning of profit by the BPC is attributed to the drastic fall in fuel oil prices in the international market. The corporation, engaged in oil marketing operations, could never earn profit during last 14 years since the FY 2002.
H1 trade gap with India hits all-time high
The country’s trade gap with India in the first half of the current fiscal year recorded its all-time high at $2.65 billion because of soaring imports against lower exports. The trade gap widened as different non-tariff barriers continued to limit Bangladesh’s exports to the neighbouring country, said economists and experts. Bangladesh’s imports from India increased to $2.91 billion in July-December of the current FY 2014-2015 whereas exports stood at $257.48 million during the period.
Mariners lose jobs as firms sell off ships
Local conglomerates who once rushed to buy reconditioned ocean-going vessels are now selling off the ships as scrap to stem further losses, industry insiders said. The trend is bad news for prospective mariners, whose job scope had widened when the entrepreneurs started pouring money into the ships. Between 2009 and 2012, local entrepreneurs bought 48 ocean-going ships to take the country’s total flag carriers to 72, according to Bangladesh Ocean Going Ship Owners Association. Before that there were only 24 ships.
Foreign envoys call for end to violence
Calling for an end to the ongoing violence, top diplomats of different countries in Dhaka have encouraged confidence building measures, including de-escalation of political conflict, in the interest of fostering safety, stability, human rights and democracy in the country. The envoys made the call at a briefing for diplomats by Foreign Minister AH Mahmood Ali at the State Guesthouse Padma yesterday afternoon. Recalling their previous statements on events in Bangladesh, and those by the UN, the envoys said as friends and partners of Bangladesh they would continue to express their common hopes to all sides.
Foreign portfolio investment fall 86pc in Bangladesh
Net foreign portfolio investment (NFPI) in Bangladesh’s stock market fell drastically by 86 percent in February compared to January as foreign fund managers were in selling mood amid ongoing political unrest. Foreign investors bought shares worth BDT 2.50 billion and sold shares worth BDT 2.19 billion, taking their net investment to BDT 317.40 million in February, according to statistics from the Dhaka Stock Exchange (DSE).
BoI offers more services online for investors
The Board of Investment (BOI) introduced on Sunday full automation of the Visa Support Services, Work Permit and Setting up of liaison offices aiming to help investors in getting more quality, faster and coordinated services. Industries Minister Amir Hossain Amu inaugurated the web-based support services by clicking the access secure online application system at a city hotel.
BBN/SSR/AD-02Mar15-11:55 am (BST)