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.
Apparel items continue to become cheaper
The prices of Bangladeshi made apparel items continued to fall since the Rana Plaza building collapse in April 2013 although the prices of cotton, the main raw material for fabrics, increased during the time to some extent. In 2013 a dozen of Bangladesh-manufactured cotton trousers sold for $62.26. In 2017 the same quantity went for $54.29 per dozen, a 12.80 percent fall in five years, according to a findings by “Mark Anner: Binding Power, the Sourcing Squeeze, Workers’ Rights and Building Safety in Bangladesh since Rana Plaza”.
Tk 6,000cr spent on drug marketing a year
Pharmaceutical companies in Bangladesh spend more than Tk 6,000 crore on marketing a year, which burdens consumers as the companies recover the expenses through increased drug prices, health experts say. The Bangladesh Institute of Development Studies in a study, ‘Pharmaceutical Industry of Bangladesh: Prospects and Challenges’ made public on December 1, said that the pharmaceutical companies spent 29.6 per cent of their turnover on marketing in 2018.
RMG remediation helps large units boost profit
The country’s big garment factories that adopted compliance measures prescribed by the Western retailers’ platforms the Accord and the Alliance as well as the National Initiative made profit up to 10.72 per cent in 2018, according to a survey. The same factories had reported their profits at an average of 9.80 per cent in 2013.
Govt. avails OD facility from BB
The government has started availing overdraft (OD) drawing facility from the central bank to meet its day-to-day expenditures. The government’s account deficit stood at BDT 67 billion as on December 04 that was mitigated by using ways and means advances (WMAs) and OD facility from the central bank, officials said.
DSEX dips below 4,600-mark after three years
The prime index of the Dhaka Stock Exchange dipped below the ‘psychological’ threshold of 4,600-mark after three years on Sunday as investors dumped their holdings to prevent further losses. The DSEX lost 75.33 points or 1.61 per cent to settle at more than three years low at 4,596. It was the lowest level of DSEX in more than three years since November 1, 2016, when DSEX was 4,596.
Agriculture lending picks up as seasonal crops raise demand
Farm loan disbursement accelerated in the first four months of the fiscal year on the back of loans flowing to seasonal crops in a sign that will encourage farmers to grow essential agriculture products. Agriculture lending rose 13.13 percent year-on-year to Tk 6,055 crore between July and October, according to data from the central bank.
BB fines BCBL for hiding loan default record of remittance award recipient
The Bangladesh Bank (BB) has fined the Bangladesh Commerce Bank Limited (BCBL) Tk2 lakh as the bank did not inform the central bank about the default loan record of a remittance award recipient. The defaulter, Shahjahan Bablu, was awarded Bangladesh Bank Remittance Award 2018 on October 7 this year.
NBR to force all eligible TIN holders to file returns: chair
The National Board of Revenue would force all taxpayer’s identification number holders who have taxable incomes to file income tax returns as only 22 lakh out of the 46 lakh TIN holders submitted returns this fiscal year, said NBR chairman Md Mosharraf Hossain Bhuiyan on Sunday. Tax officials would contact each TIN holder through letters and phone calls to find out who have not filed returns despite having taxable incomes, he said at a press briefing at the NBR conference room.