An apparel factory in Bangladesh. Photo: BBN file photo

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.

Wage board for garment workers likely this month
The wages board for reviewing wages of country’s readymade garment workers is likely to be formed by this month as the labour ministry asked directorate of labour to finalise the names of the representatives of factory owners and workers for the board. ‘We are in the process to form the wage board to review the wages of RMG workers and hopefully the board will be formed by this month,’ state minister for labour Md Mujibul Haque told New Age on Monday.

Payra Port: Deal for capital dredging signed
In a big leap forward, the Payra Port Authority yesterday signed a deal with a Belgium-based company to start capital dredging of the port’s main channel to facilitate entry of large ships that cannot berth now at Chittagong and Mongla ports. The dredging of the 36.5 nautical-mile channel is expected to begin in September next year, and it will cost an estimated Tk 5,155 crore (€532.43 million).

Farmers Bank gets BB’s permission to float BDT 5.b bonds
The central bank of Bangladesh gave permission on Monday to the Farmers Bank Limited (FBL) to float subordinated bonds worth BDT 5.0 billion to raise their capital base, officials said. “We’ve given permission on issuance of the bonds to the bank to help in strengthening their capital base in line with Basel-III framework,” a senior official of the Bangladesh Bank (BB) said while explaining main objective of the policy support.

Post office’s mobile banking service Daak Taka launched
Prime Minister Sheikh Hasina’s ICT Adviser Sajeeb Wazed Joy has launched a new mobile banking service named “Daak Taka”, saying the service will allow people to open their bank accounts at Tk 2.0 only. The launching ceremony was held at the Bangladesh Post Office (BPO) conference room on Monday.

RMG bags most of Tk 348b import-tax waiver in FY ‘17
Country’s export industries enjoyed import-tax benefit worth Tk 348 billion through special bonded warehouse (SBW) facility alone last fiscal year, and RMG took almost all. Such a finding came in a study conducted by the Policy Research Institute (PRI), which also stated that the tax exemptions accounted for 77.18 per cent of the aggregate customs-revenue collection in the past fiscal year (FY 2016-17).

Global garment exports fall: WTO
Shipment of both textile and garment items by top 10 exporting countries fell in 2016 due to fading demand, according to data from the World Trade Organisation. The current dollar value of world textiles and apparel exports by top 10 countries totalled $246 billion and $384 billion respectively in 2016, decreasing by $22 billion and $3 billion respectively from the previous year.

BB summons Farmers Bank MD for hearing
Bangladesh Bank has summoned scam-hit Farmers Bank’s managing director AKM Shamim to appear before the standing committee of the central bank on December 13 for a hearing over unrelenting disbursement of loans despite a liquidity crisis in the bank, BB sources said.

Govt mulls revolving fund of Tk 55b to meet expenses
The government is contemplating to provide state-run Petrobangla with an initial revolving fund of Tk 54.82 billion to facilitate importing LNG (Liquefied Natural Gas) for meeting the country’s growing demand for energy. Officials said the Energy and Mineral Resources Division (EMRD) already requested the finance ministry to arrange the fund for financing the initial small-scale imports of the fuel.