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.
Exports dip by 7.3% in September
The country’s merchandising exports have continued to plunge as work orders are shifting to competing economies, causing the exporters to lose competitive edge to their rivals. Export earnings dropped by 7.3% to $2.92 billion in September, the second consecutive month to face negative growth, amid sharp decline in apparel exports.
United Power cancels share sales deal with GEM Global
United Mymensingh Power Limited, one of the corporate directors of United Power Generation and Distribution Company, has cancelled its decision to sell two crore shares in UPGDCL to GEM Global Yield Fund after making a public disclosure over the share sales plan. UMPL and UPGDCL are two concerns of United Group.
Startups, SMEs to get easy funds
Bangladeshi hi-tech start-ups and SME entrepreneurs can now receive funding from local and foreign investors by pitching their ideas and enterprises on a platform of the Shenzhen Stock Exchange (SZSE). The Bangladesh window of the V-Next platform of the SZSE was launched in Bangladesh on May 6 under a strategic investment agreement between the Dhaka Stock Exchange (DSE) and its strategic partner, formed by the SZSE and the Shanghai stock exchanges.
Govt vows to realise dues
The government is hell-bent on recovering Tk 134 billion ‘audit’ dues from mobile telephony operators Grameenphone and Robi. “We stand by our decision and we will do whatever rule of the land allows us to realise the dues,” post and telecommunication minister Mustafa Jabbar told the Financial Express on Sunday.
Minister warns BSCIC over plot allotment to non-entrepreneurs
State Minister for Industries Kamal Ahmed Majumder has expressed resentment over allegations that the Bangladesh Small and Cottage Industries Corporation (BSCIC) has been allotting plots meant for entrepreneurs to others. “Any corruption and irregularity will not be tolerated any more. All allegations will be investigated and action will be taken as per evidence,” he said at the inauguration of the BSCIC’s two-day annual conference yesterday.
NBR to link TIN database with power supply cos
The National Board of Revenue (NBR) has decided to develop a module to interlink the databases of power supplying or distributing authorities with the TIN database in a bid to bring the power consumers under tax-net. Once the module is developed, authenticity of the furnished TIN (taxpayers identification number) of the power consumers can be verified at the time of paying electricity bills, according to an order of the NBR.
Stocks drop as investors prefer inactivity
Dhaka stock dropped on Sunday in cautious trading as prolonged bearish trend at the market made investors reluctant to inject funds in the market. DSEX, the prime index of Dhaka Stock Exchange, added 0.02 per cent, or 21.13 points, to close at 4,916.68 points on Sunday after gaining 1.44 points in the previous session.
GP, Robi respond to show cause notices
Mobile phone operators Grameenphone and Robi, in response to telecom regulator’s licence cancellation notices, yesterday claimed the regulator did not follow its own law in recovering the audit claim of Tk13, 446 crore. Through separate letters to Bangladesh Telecommunication Regulatory Commission (BTRC), the operators raised the issue, a top commission official told Dhaka Tribune.