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.
Supply adequate, yet rice prices up
Rice prices have gone up as millers and traders hiked prices banking on the government decision to raise import duty on the cereal to 28 percent from 2 percent, say market insiders. Over the last ten days, prices of all types of rice shot up by Tk 3 a kilogram at retail markets in the capital. Coarse rice, mostly consumed by low-income people, was sold for up to Tk 45 a kg yesterday, up from Tk 42 a week ago, according to the Trading Corporation of Bangladesh (TCB) data.
Bangladesh’s export earnings grow by 6.0% in FY 18
Bangladesh’s export earnings grew nearly by 6.0 per cent in the fiscal year (FY) 2017-18 mainly due to depreciation of the local against the US dollar. The overall export earnings rose to US$30.61 billion in the July-June period of the FY 18 from $34.65 billion in the same period of the FY 17 but fell short of the government’s target of $37.5 billion, according the state-run Export Promotion Bureau (EPB)’s latest statistics.
LNG supply to grid delayed for fourth time
Adding Liquefied natural gas (LNG) to the national grid will take a while longer, with officials saying the process is being delayed by technical issues and rough seas, confirmed the prime minister’s power and energy adviser. Rupantarita Prakritik Gas Company Limited Managing Director, Md Qamruzzaman, said on June 25 that the supply of LNG would start on July 4.
Muhith warns of action as internet VAT cut decision not implemented
Finance minister AMA Muhith on Wednesday warned that action would be taken against internet service providers reluctant to reduce value-added tax for end users in line with fiscal measures. He gave the warning while answering a question that the end users were yet to enjoy the tax benefit awarded by the government in the recently approved finance bill 2018 by slashing the VAT to five per cent from 15 per cent on internet bills.
Bangladesh’s stocks bounce back to green
Bangladesh’s stocks returned to higher on Wednesday, breaking a three days losing streak, as optimistic investors showed their buying appetite on sector-wise stocks. Following the previous three days’ fall, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened on positive note amid rising trading activities.
BRI, BBIN to help boost regional trade
China and India, the big neighbours of Bangladesh should cooperate to accelerate regional connectivity and economic integration in South Asia. Instead of using coercive tactics, the big powers in South Asia should end the rivalry to bring economic benefits for the teeming millions in the region, experts told a conference in the city on Wednesday.
Govt working to launch Sukuk, says BB official
The government is working on launching Sukuk, a Shariah-compliant or Islamic bond, to help Islamic finance industry to flourish in the country, Bangladesh Bank’s Deputy Governor Abu Hena Mohd Razee Hassan said yesterday. Two to three Bangladeshi teams have already visited some countries that are practising Islamic banking, including Malaysia and Bahrain, to gather experience on introducing Sukuk and a new team will be doing the same soon, he said.
CUTS International organizes press meet on Tripura-Bangladesh trade
Consumer Unity and Trust Society (CUTS) International, India, has organized a press meet in association with the Tripura Chamber of Commerce and Industry in Agartala. The press meet on Tripura-Bangladesh trade took place on Wednesday. CUTS International is a premier rights-based organization and a policy think and action tank, based in India with six overseas offices.