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.
GSP demand to dominate Ticfa talks on May 17
Bangladesh will once again call for the restoration of trade privileges to the American market when the two countries meet for the third round of Ticfa meetings on May 17 in Dhaka. The country will highlight the reforms made to strengthen workplace safety and enhance labour rights in the garment sector for regaining the Generalised System of Preferences facility, said a senior official of the commerce ministry.
What does Bangladesh get for a $42 shirt? $3.30.
Foreign buyers make huge profits on Bangladeshi RMG products but pay the manufacturers poorly. When it comes to the prices of Bangladeshi RMG products, the gap between manufacturing and retail end prices is astounding. Foreign buyers make as much as 600% profit on a single item at the retail end; in other words, a consumer may end up paying Tk7 for a product that only cost Tk1 to make.
Investment in NSCs hits annual record of Tk 37,600cr in 9 months
The net investment in the national savings certificates and bonds broke the yearly record within the first nine months of the fiscal year 2016-17 hitting Tk 37,648.41 crore. The net investment in the national savings instruments earlier registered a record at Tk 33,688.60 crore in FY16. Directorate of National Savings and Bangladesh Bank officials said a section of people continued to invest heavily in the savings tools in recent time due to lower interest rates in banks’ fixed deposit schemes.
Cost-free remittance thru formal channels likely
The government plans to offer cost-free remittance facility to Bangladeshi expatriates under package incentives to boost falling inflow of remittances, officials said. During July-April period of this fiscal year, the remittance flow into the country fell by over 16 per cent.
Bangladesh’s stocks end higher for second day
Bangladesh’s stocks extended gaining streak for the two consecutive sessions on Wednesday as optimistic investors continued their buying spree on some large-cap stocks. Following the previous session’s positive trend, the key index of the country’s prime bourse advanced 25 points while the Selective Category Index of port city bourse rose 29 points within first 15 minutes of trading at 10:45am.
Three contracts signed for Dhaka metro
Authorities of Dhaka’s maiden metro rail project yesterday signed three contracts with two companies for the civil construction work at the Uttara depot and building elevated rail viaducts from north Uttara to Agargaon. With these, four contracts have been inked for as many packages of work, out of a total eight.
NBR to include more products in SD list to protect local industries
The National Board of Revenue has decided to increase the number of products for imposition of supplementary duty (SD) at import stage under the new VAT act to ensure protection to local industries from uneven competition with imported finished goods. A high-powered team of the value-added tax wing of the revenue board has already started working to identify the goods produced in the country that need further protection.
Menon: Consumers can’t pay for BPC loss
Civil Aviation and Tourism Minister Rashed Khan Menon has said consumers cannot be made to pay additional price to make up the loss of Bangladesh Petroleum Corporation (BPC). The minister said this in response to the demands of the aviation sector people that the government should adjust the fuel price with that of the international market. Menon said it is illogical that consumers will pay additional price to recover the loss of a government organisation.