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.
Borrow money, never pay back
It was a time when politics played havoc with the economy. The BNP-led opposition called a series of hartals in 2013 ahead of the general elections demanding restoration of the caretaker government system. The whole year was practically wasted and violence of the worst kind spread, bringing the economy to a grinding halt.
FID for disclosure of loan defaulters’ identity
Financial Institutions Division has recommended five measures, including regular disclosure of identity of big loan defaulters for quickening loan recovery by the state-owned commercial banks while experts are sceptic about successful implementation of the recommendations.
Shortfall forces NBR to consider trimming tax collection target
The government is considering chopping its tax revenue collection target by nearly Tk 280 billion after the receipt dropped in the seven months to February. The National Board of Revenue’s tax collection shortfall reached Tk 175.12 billion in July-February period of the current financial year.
BB chief economist says the next decade looks bright for the economy
Bangladesh Bank’s Chief Economist Faisal Ahmed on Saturday said diversification in the business sector beyond the RMG industry is shaping a better future for the country. Speaking at the 5th Leadership Summit, organized by Bangladesh Brand Forum, he said leveraging finance, fiscal policies, technology, and avoiding policy capture will be the key to further economic development.
Bangladesh’s stocks see another wining week
Bangladesh’s stocks extended the winning streak for the second week that ended on Thursday with increased participation of investors backed by government measures to mitigate liquidity crunch. Analysts said the optimistic investors showed their buying appetite on large-cap stocks, especially financial issues, encouraged by the government’s steps to mitigate the ongoing liquidity crunch.
Greater enforcement of law needed to fight graft, fraud
As many as 98 percent of the corporate professionals and businesspeople in Bangladesh believe there is a need for greater enforcement of laws around fraud, bribery and corruption, a recent survey found. “Such a move would increase investor confidence, strengthen profitability and enhance reputation, which may ultimately help secure new business and sustainable growth,” said the global accountancy firm Ernst & Young in the report ‘Bangladesh’s risk landscape: analysing the undercurrents’.
Bangladesh to keep interest rates on savings certificates intact
The government will try its best to keep the present interest rates of various savings schemes intact considering the desire and aspirations of the beneficiaries, a senior official said. “The number of owners of various saving schemes in the country is now around two crore and their desire and aspirations in this regard is very important to the government. We’ll try to keep the present interest rates of various schemes intact,” Md Mosharraf Hossain Bhuiyan, chairman of the National Board of Revenue (NBR), said on Saturday.
Bangladesh rice import hits 32-yr high: USDA
Rice imports in Bangladesh hit a 32-year high in 2017-18, according a report of the US Department of Agriculture released on Friday. The Grain and Feed annual report of USDA Foreign Agricultural Service said that the country imported 36 lakh tonnes of rice in the year which was the highest import amount since 1985-86.