A apparel factor in Bangladesh

An apparel factory in Bangladesh. Photo: BBN

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.

Errant RMG units to face legal action in May
The government has decided to take legal action against the readymade garment factories inspected under the national initiative that will fail to complete remediation work by April. The labour ministry in a recent meeting to review the progress of Remediation Coronation Cell came to a firm decision that the Department of Inspection for Factories and Establishment would file case against factories, which will fail to complete remediation in time, in May.

July-Jan revenue shortfall Tk 148b
Government’s tax-revenue collection suffered about a Tk 148-billion shortfall until January of this fiscal year against its target mainly for slow-paced reform to expand the tax net, sources said. Officials said such large amount of shortfall in the first seven months of the FY 2017-18 would make it difficult for the National Board of Revenue (NBR) to achieve the “ambitious” target.

Vietnamese keen to invest in telecom, textile
Vietnam wants to invest in telecom, agriculture, IT, textile, oil and gas, infrastructure sectors of Bangladesh due the country’s low-cost production facilities and large market, said Tran Dai Quang, president of the Southeast Asian nation. “There is a lot of opportunity for investment given the current size of the economy of Bangladesh,” he said at the ‘Vietnam-Bangladesh Business Forum’, organised yesterday by the Federation of Bangladesh Chambers of Commerce and Industry.

Bangladesh labour inspectorate goes digital with LIMA
Labour Inspectors of Bangladesh have gone digital with the introduction of a new Labour Inspection Management Application (LIMA). The application was officially launched by the State Minister of the Ministry of Labour and Employment, Md Mujibul Haque at an event held on Tuesday at the capital’s Amari Hotel.

Bangladesh’s stocks rebound amid volatility
Bangladesh’s stocks return to green on Tuesday, after single-day break, supported by heavyweight Grameenphone’s shares, market operators said. Share prices of GP, which accounted for nearly 17 percent of the major bourse’s total market cap, jumped 1.18 percent to close at BDT 487.40.

IDLC seeks $40m from IFC to offer home loans
IDLC Finance Ltd is seeking $40 million in loans from the International Finance Corporation to make house financing affordable for low and medium income groups in Bangladesh. The non-bank financial institution will use the proceeds to support purchase, construction and extension of houses of such individuals.

Muhith doubts Rohingya repatriation, plans budget allocation for them
Finance Minister AMA Muhith says Rohingya refugees are turning a liability for Bangladesh as he doubts their repatriation to Myanmar. And that is why the finance minister now plans for making budget allocation for them in the country’s next national budget.

CSE seeks 1 year more for finding strategic partner
The Chittagong Stock Exchange has requested the Bangladesh Securities and Exchange Commission to extend time for selecting a strategic partner by one year more as the port city bourse has so far failed to reach any agreement with any institution in this regard.

BBN/SSR/AD