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.
NBR suffers Tk 9,318cr shortfall in revenue receipt in July-Aug
Revenue collection by the National Board of Revenue fell Tk 9,318 crore short of its target in July-August of the current fiscal year 2019-2020 due to slowing down of economic activities in the country and external trade, changes in cigarette taxation and wide-scale tax exemption offered to different sectors. The revenue board also registered a dismal growth of 3.35 per cent year-on-year in revenue collection in the first two months of the FY20.
BSEC seeks all info on Tk 500m deal
The securities regulator has asked LR Global Bangladesh Asset Management Company Limited to submit all information regarding its mutual funds’ (MFs) Tk 500 million investment in bdnews24.com within 24 hours. The Bangladesh Securities and Exchange Commission (BSEC) gave the instruction after a meeting at BSEC office in the capital on Sunday.
Massive cuts in short code tariffs
Bangladesh Telecommunication Regulatory Commission (BTRC) has decided to lower the call charge for public service short codes by 77.5 percent to Tk 0.45 from Tk 2 a minute. The telecom watchdog also plans to fix the voice tariff at Tk 1 per minute—down from Tk 2—for short codes used by private organisations.
Economic growth projection by World Bank: Bangladesh 2nd fastest in South Asia
Bangladesh’s economy will grow faster than all South Asian countries except for Bhutan in the current fiscal year, says the World Bank (WB). In its latest report titled “South Asia Economic Focus, Making (De) Centralisation Work”, the WB also projects a 7.2% GDP growth for the country for the current FY 2019-20 and 7.3 % for the next fiscal.
Stocks extend losing streak for fifth day
Bangladesh’s stocks extended the losing streak for fifth consecutive session as investors’ panic-driven sales amid their lack of ‘confidence’. The country’s prime bourse witnessed another moderate correction in broad index and turnover on Sunday and extended the losing streak for fifth consecutive session.
BASIS recognises ICT icons
The Bangladesh Association of Software and Information Services (BASIS) Saturday honoured 69 companies and individuals in 35 categories for their extraordinary contribution to innovations and business solutions in the ICT sector. Information Minister Hasan Mahmud, State Minister for Public Administration Farhad Hossain and State Minister for ICT Zunaid Ahmed Palak handed over the awards among the winners at the Bangladesh National ICT Awards 2019.
Bangladesh Bank lets taka devaluation after 5 months as exports fall
The Bangladesh Bank has started allowing devaluation of the taka against the US dollar after a five-month lull to support exporters as the country’s export earnings witnessed a fall in July-September this fiscal year (2019-20) amid a slowdown in the global economy. As per the Bangladesh Bank data, the interbank exchange rate of the dollar increased to Tk 84.7 on Sunday, rising in two phases from Tk 84.5 on October 3 this year.
BPDB running four costly power units defying BERC
The state-run Bangladesh Power Development Board (BPDB), has kept four of its most expensive diesel-fired power plants operational defying the energy regulator’s instruction to shut those. The Bangladesh Energy Regulatory Commission (BERC) had set a deadline in late 2017 to terminate operations of the plants, having a total electricity generation capacity of 140 megawatts (MW), by June 2018.