Chittagong port

Chittagong port of Bangladesh

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.

Congestion pulls down growth rate to five-year low
Chittagong port handled about 2.56 million twenty-foot equivalent units of import, export and empty containers last year, up 9.36 percent from a year ago, despite prolonged congestion. According to Chittagong Port Authority (CPA) data, 2017’s container handling growth rate was the lowest in the last five years.

Bangladesh’s inward remittances fall by 0.53% in 2017
The flow of inward remittances fell by 0.53 per cent or US$72.46 million in the just concluded calendar year –2017 despite a significant rise in the out-bound jobs of Bangladeshi nationals. The inflow of remittances came down to $13.54 billion in 2017 from $13.61 billion a year ago, according to the central bank statistics, released on Monday.

Minimum wage for tannery workers proposed at Tk 13,500
The Minimum Wage Board has proposed Tk 13,500 as gross monthly pay for tannery workers, leading to an increase by 54 per cent from the existing Tk 8,740 set in 2011. The board last week published the draft pay structure in a gazette notification seeking, if there is any, written objections against or suggestions on the recommendation in 14 days.

DITF ‘18 begins with unprepared stalls, low visitor turnout
The 23rd edition of Dhaka International Trade Fair (DITF) began on Monday with many stalls still not set up to showcase their products. During a visit to the DITF ground, this correspondent found at least 50 stalls – allocated to both local and foreign traders – that have yet to be fully set up and ready to welcome visitors, even though DITF organizers set a deadline to complete all the preparations for the expo on December 29.

Revenue rises 18pc in Jul-Nov
Revenue collection grew 18 percent year-on-year to Tk 75,308 crore in the July-November period of the current fiscal year driven by rising imports and increased domestic economic activities, official data showed. The collection grew at a faster pace in the current fiscal year compared to the previous year but missed the target of Tk 84,066 crore for the five-month period, according to the National Board of Revenue.

BO accounts slump for sluggish stocks trade
The number of active BO (beneficiary owner) accounts declined in 2017, indicating that the traders concerned lost interest in sluggish share business. According to information from the Central Depository Bangladesh Limited (CDBL), over 0.21 million BO accounts were closed in the calendar year that has just gone by.

Govt’s tax collection from DSE surges by 61pc in H1
Government’s revenue collection from the Dhaka Stock Exchange rose by 60.54 per cent or Tk 53.73 crore in the first half (July-December) of the current financial year of 2017-18 compared with that in the corresponding period of the FY 2016-17 mainly due to a surge in turnover at the country’s premier bourse. The National Board of Revenue in July-December of FY18 collected Tk 142.48 crore in tax including tax on turnover and tax on sponsor-directors’ share sales against Tk 88.75 crore in the first half of FY17, DSE data showed.

How to make 2018 a successful year for pharmaceuticals
Prime Minister Sheikh Hasina on Monday declared the pharmaceuticals products as the ‘product of the year’ to help boosting the export to grab more global market share. Sheikh Hasina made the declaration while inaugurating the 23rd Dhaka International Trade Fair (DITF)-2018, a platform to display products to attract buyers from home and abroad, at Bangabandhu International Conference Centre (BICC).

BBN/SSR/AD