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.
Dhaka suddenly postpones joint feasibility talks
A prescheduled meeting regarding a joint feasibility study on signing a bilateral free-trade area (FTA) deal between Bangladesh and China stands postponed again following reluctance of high-ups in Dhaka, sources said. China had shown interest in hosting the first meeting which was preliminarily scheduled to be held in December last and later on January 7-8 in Beijing.
Sales of savings tools continue to climb
Savers’ appetite for high-yielding schemes shows no sign of fading as net sales of savings certificates rose 4.19 percent year-on-year to Tk 21,172.07 crore in the first five months of the fiscal year. In the July-November period, the government’s borrowing through the savings instruments was more than 70 percent of the entire fiscal year’s target of Tk 30,150 crore, according to data from the Department of National Savings.
DSE to seek tax waiver for T-bond trading on bourse
The Dhaka Stock Exchange has decided that it would soon request the government to exempt treasury bond trading at the secondary bond market from paying tax. The country’s premier bourse made the decision early in December, 2017 following a Bangladesh Bank suggestion. DSE officials said the waiver would make vibrant the secondary bond market which has remained inactive for years.
Indian companies seek additional two months to start drilling for gas in Bay of Bengal
Two Indian state-owned oil companies have asked to extend by two months their deadline to start drilling for gas in the shallow off-shore block of the Bay of Bengal allocated to them. ONGC Videsh Limited and Oil India Limited were scheduled to start drilling from January 2018, according to a four-year-old deal signed between Bangladesh and India. However, the Indian companies applied to move the deadline back by two months to March 2018.
Ensuring quality credit gets top priority in next MPS
Ensuring the quality of credit to achieve maximum economic growth by the end of this fiscal gets top priority as the central bank prepared to formulate country’s next monetary policy. Officials said the priority was suggested at an internal preparatory meeting on the monetary policy statement (MPS) at the Bangladesh Bank headquarters Sunday with BB Governor Fazle Kabir in the chair.
Bike sales soar 50pc
Motorbike sales soared nearly 50 percent year-on-year to 3.60 lakh units in 2017 thanks to a huge cut in supplementary duty on import of the two-wheeler’s components. The duty on import of completely knocked down units of motorcycle was slashed by 25 percentage points to 20 percent in 2016-17 to encourage local assembly.
NBR to check disparity between declared and market prices
The National Board of Revenue has asked its large taxpayers unit (value-added tax) to examine the market prices of different products to verify whether there is any inconsistency between the prices declared by manufacturers and traders and the market prices of the items. The revenue board came up with the directive suspecting that many businesses declare the prices of their products lower than the prices at which the products are actually sold at the market to pay less VAT.
Banking services a great help for DITF exhibitors, visitors
If you are keen to visit the ongoing Dhaka International Trade Fair (DITF) at the capital’s Sher-e-Bangla Nagar, you can stop worrying about carrying large amounts of money on your way as different banking services are already available at the venue. The services include deposit and withdrawal of money, opening new bank account, money transfer and even mobile phone credit recharge.