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.
Highest ever rice import from India in FY18
Bangladesh imported highest ever rice mainly from India in the outgoing financial year 2017-18 to overcome supply shortage caused by floods and inertia of the ministry of food to strengthen food buffer stock in time. The country imported 31,65,000 tonne rice until February, as per the data of the directorate of food, showed the Bangladesh Economic Review 2018.
Pre-polls tension could weigh on economy: IMF
The International Monetary Fund (IMF) has projected a 7.0 per cent economic growth for Bangladesh in the next fiscal year (FY), 2018-19. The growth projection is 0.80 percentage points lower than the target the government has set for the upcoming fiscal.
Mobile assemblers slam tax measures
Mobile phone assemblers yesterday voiced their grievances about the National Board of Revenue's proposal for them to get tax benefits. To gain tax benefits, every assembler must add 30 percent value and have the capacity to manufacture five components of a mobile phone—printed circuit board, charger, battery, housing and casing—in its plant.
BGMEA: Do not increase tax rate for RMG sector
The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has asked the government to keep the corporate tax rate for the RMG sector at the existing 12%, instead of increasing it to 15% as per the proposed national budget for FY19. The BGMEA has also urged the authorities to keep the corporate tax rate for green factories at the existing 10%, instead of increasing it to 12%, and recommended that tax at source (TDS) be exempted for the next three years.
Bangladesh’s stocks break six-week losing streak
Bangladesh’s stocks return to the green last week that ended on Thursday, breaking a six-week losing streak, amid budgetary expectations. DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 22.79 points to settle the week at 5,366 points.
Monitor mega-projects strictly before polls
A think-tank has called for strict monitoring of ongoing mega projects ahead of the national elections. "Instead of focusing on spending, we need to focus on the quality of the projects," said the head of the Dhaka-based South Asian Network for Economic Modeling (SANEM).
Meghna Group to purchase two new oceangoing vessels
Meghna Group of Industries, one of the leading business empires in Bangladesh, is set to buy two brand new oceangoing vessels for $50 million (about Tk 400 crore). This is the first time in the country's history that a private sector company is buying brand new bulk vessels. Each ship is of 64,000 deadweight tonnes.
eCAB demands tax holiday
The e-Commerce Association of Bangladesh (eCAB) has demanded a tax holiday for the sector for five to ten years. “We appreciate the tax but it should be applied after a timeframe of five or seven or ten years so the businesses reach a stable position and contribute more to the economy,” said the association’s President Shomi Kaiser at a press conference at the National Press Club on Saturday.
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