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.
Exports await a blow
Bangladesh is likely to lose about $2.7 billion in export earnings every year once it graduates from the Least Developed Country bracket, where it has been for 43 years. Upon graduation from the LDC status, exports will be subjected to 6.7 percent additional tariff as duty-free and quota-free benefits from different countries and trading partners will be withdrawn.
Minimum wage for RMG workers: What do stakeholders think?
The newly formed wage board that was announced on Sunday for Ready Made Garments (RMG) workers should set their wages that allow room for savings. In 2013, after the Rana Plaza disaster, the wage board set the minimum wage at Tk5,300 with a basic of Tk3,000 for entry-level garment workers with a 5% yearly increment on the basic.
BTRC receives 3,522 subscriber complaints against telcos in ’17
Auto-activation of unnecessary value added services, poor network coverage and excessive call drop of mobile phone services drew 3,522 complaints against mobile phone operators to the telecom regulator in 2017, with the highest number of complaints lodged against Grameenphone.
Parliament passes Banking Companies (Amendment) Bill, 2018
Bangladesh’s Parliament passed Banking Companies (Amendment) Bill, 2018 on Tuesday allowing four from a family to be bank directors at a time, amid strong opposition and criticisms from various quarters. Furthermore, the tenure of directors of private commercial banks has been extended for three consecutive terms to nine years from the existing two terms following the amendments.
Bangladesh Bank sells $25m more to five banks
The central bank of Bangladesh has sold US$25 million more to five commercial banks to meet the growing demand for the greenback in the market. “We’ve sold the foreign currency to the banks on Tuesday at market rate to settle outstanding letters of credit (LCs) against imports particularly fuel oil, food grains and capital machinery,” a senior official of the Bangladesh Bank (BB) told BBN in Dhaka.
79 source points of illegal gas connections remain untouched
Seventy nine source points of illegal gas connections in the capital, largely contributing to the ongoing gas crisis, have been untouched due to reasons hitherto unknown. No possibility is seen to take quick actions to this effect, indicating that the city dwellers have no immediate relief from the ongoing severe gas disruption that is severely disrupting daily life.
Intraco Refuelling’s Tk 30cr IPO approved
Bangladesh Securities and Exchange Commission on Tuesday approved Tk 30 crore initial public offering of Intraco Refueling Station Limited. BSEC gave the approval at a meeting presided over by its chairman M Khairul Hossain. Under the approval, the company will float 3 crore shares at an issue price of Tk 10.
Garment accessories offer bright prospects
Bangladesh has turned into a major source for garment accessories, as direct export of such items increased by 66.67 percent year-on-year to $1 billion in the last fiscal year. Once a net importer of garment accessories mainly from Hong Kong and China, Bangladesh is now a lucrative source of such items, with spiralling demand coming from international buyers of many garment-making nations, including the African ones.