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.
BSEC presses DSE to pick India’s NSE-led group, not top bidder
The Bangladesh Securities and Exchange Commission has been putting huge pressure on the Dhaka Stock Exchange to sell its 25 per cent stake to India’s NSE-led consortium scrapping its (DSE) decision to approve a ‘better’ offer submitted by a Shanghai Stock Exchange-led consortium. The BSEC on Sunday summoned DSE chairman Abul Hashem and managing director KAM Majedur Rahman to convey the BSEC’s ‘displeasure’ over the selection of the Chinese consortium of SSE and Shenzen Stock Exchange by the DSE board of directors, sources in the BSEC said.
Imports on higher trajectory while financing faces crunch
The opening of LCs remained on a higher trajectory, with country’s overall imports growing by US$2.07 billion in the first half (H1) of the current fiscal, though financing may face a crunch now. Official data show the overall H1 imports grew by over 9.0 per cent or US$2.07 billion in the fiscal year (FY) 2017-18 mainly due to higher import of food-grains and fuel oils.
Int’l trade to be more dynamic
Bangladesh Bank is set to upgrade the Bangladesh Automated Clearing House (BACH) in a bid to help businesspeople settle their local export- and import-related transactions in a day instead of existing 7-10 days. The upgraded version, which will be called BACH II, is scheduled to go live on May 3.
Bangladesh’s RTGS faces technical glitch
Real Time Gross Settlement (RTGS) system of Bangladesh has faced technical glitch for the last couple of days, bankers said. The technical glitch has been occurred due to up-gradation works of the system by the central bank of Bangladesh. Earlier on October 29, 2015, the central bank of Bangladesh formally launched the RTGS system aiming to facilitate business activities across the country.
Bangladesh’s stocks rebound strongly
Bangladesh’s stocks ended higher on Sunday after recent bearish mood as optimistic investors went on buying spree, especially banking and telecommunication issues. Market operators said investors became optimistic as the country’s political tension eased somewhat and the premier bourse approved the proposal of Chinese consortium to be a strategic partner of the country’s premier bourse.
Gazipur industries in dire straits
Industrial enterprises in Gazipur, one of the key industrial belts of the country, are facing serious production setback due to disruption in natural gas supply. Dozens of factories in the area, mostly export-oriented ones, do not get gas supply for 7-8 hours a day, barring the weekend, leaving the manufacturers worried about maintaining the shipment schedules.
More export items to get cash incentive
The government has expanded the list of exporters eligible for cash incentive by granting the facility to some nontraditional goods in order to boost overseas shipments. The finance ministry awarded 15 percent cash incentive to accumulator battery, shoe, and goods made of coconut fibre, and 10 percent to ICT products.
NBR spurns Farmers Bank’s plea for time extension for source tax deposit
National Board of Revenue has turned down a plea of Farmers Bank Ltd seeking time extension by around five months to deposit tax deducted at source to the government exchequer citing acute liquidity crisis. Officials said that revenue board last week also asked the private bank to immediately deposit the taxes it already deducted or collected at source to the state coffer as per law.