Dhaka, Bangladesh (BBN) – The BBN has prepared the morning business round up compiling reports, published by different newspapers and news portals in Bangladesh.
Political unrest dilutes move to buoy up investment activity
The government’s move to improve the investment-GDP ratio during the current fiscal may suffer a setback as investors are shying away in view of an unrelenting political unrest, economic analysts said. A good number of entrepreneurs — both local and foreign — have already put on hold their decisions on fresh investment and expansion plans for the prevailing political standoff over election issue.
NBR unveils plan to check duty dodging
The National Board of Revenue has strengthened its systems to curb duty evasion and money laundering through false declaration of imported goods. The revenue authority installed the Asycuda World software at all customs houses and 10 land customs stations early this month, enabling officials to verify the value of declared goods. Test runs are being conducted. “Now, our colleagues sitting at Benapole or Hilly port can see the products that are arriving in Chittagong and verify their declared value in real time,” Md Farid Uddin, member of NBR’s customs policy, said yesterday.
Net investment in savings tools hits all-time high
The net investment in the national savings certificates and bonds hit a new record at Tk 13,135.49 crore in the first six months of the current financial year 2014-15 as clients invested heavily in the savings tools due to low rates of interest on deposit products of the scheduled banks. Rising access liquidity amid sluggish business situation in the country has forced the banks to lower rates on their deposit products, Bangladesh Bank sources said.
Garment makers to form human chain Wednesday to demand security
The apparel and textile businesses will form a human chain in Dhaka on Wednesday demanding security as the ongoing political violence is disrupting smooth operation of their business.The decision was taken yesterday at an emergency meeting of the leaders of Bangladesh Garment Manufacturers and Exporters Association, Bangladesh Textile Mills Association, and Bangladesh Knitwear Manufacturers and Exporters Association at the BGMEA office in Dhaka.
Banks asked to comply with KYC for mobile banking by 10 days
The central bank has asked the banks, which are running mobile banking business, to comply with KYC (Known Your Clients) provisions by 10 working days, officials said. The Bangladesh Bank (BB) issued a directive in this connection on Sunday and asked the chief executive officers of all mobile banking service provider banks and organizations to inform the Bangladesh Financial Intelligence Unit (BFIU) of the central bank after complying with the KYC provisions.
Trade fair gets 10-day extension
The government has extended the ongoing Dhaka International Trade Fair by 10 days to help the participants that have suffered a sharp fall in sales as fears of political violence kept visitors away. The 20th edition of the month-long exposition at Sher-e-Bangla Nagar in the capital was scheduled to end on January 31. Now it will end on February 10. The Export Promotion Bureau, the organiser, took the decision at a meeting with Commerce Minister Tofail Ahmed yesterday, according to an official of the ministry.
102pc gas tariff hike move opposed
Bangladesh Small and Captive Power Producers’ Association (BSCPPA) opposed the government move to raise natural gas tariff by 102 per cent for the captive power plants-which, if done, would have cascading price impacts on electricity consumers. Speaking at a press conference at the DRU Auditorium Sunday, the BSCPPA leaders claimed that their industries would be affected badly and thousands of workers lose jobs if the rate was really raised.
BBN/SSR/AD-26Jan15-10:47 am (BST)