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.
Bangladeshi exporters’ anxiety over Brexit ends
Bangladeshi exporters no longer need to feel apprehensive regarding exports to the United Kingdom as Britain has assured that it will continue to allow duty-free access to its markets post Brexit. Though many local exporters feared that if Brexit was executed, Bangladesh would have to begin paying taxes for exporting goods to the UK, on Saturday, Britain announced that once it had left the EU, it would continue to provide duty-free access to nearly 50 developing countries, including Bangladesh, Sierra Leone and Haiti.
Govt officials scamper to pay for deficit after VAT law hold up
The government is now under pressure, especially from development partners, as it has dropped the plan to enforce the new value-added tax law from the next fiscal year, according to official sources. Finance Division officials said the country might have lost the trust of development partners and global lenders, including the World Bank and the International Monetary Fund, as it failed to fulfill some major funding conditions.
PPP projects in 14 categories get tax benefits
The government has offered a set of income tax benefits including tax holiday for 10 years to companies under the public-private partnership programme for implementation of infrastructure projects in 14 categories. The National Board of Revenue on June 21 issued three separate statutory regulatory orders announcing the tax breaks for PPP projects.
BB bills help keeping call money rate stable before Eid
Maturity of the Bangladesh Bank (BB) bills has helped keeping the money market stable before the Eid-ul-Fitr festival, experts and officials said. Around Tk 200 billion has been injected in the market in the last two weeks following maturity of the BB bills, despite higher withdrawal of cash from the banks, they explained.
Exporters count losses for airport inefficiency
Bangladesh has been losing more than $1 billion worth of apparel business every year due to inefficiency of the airport authority as their delayed release of samples irks Western retailers, said the BGMEA president yesterday. Due to the fast pace of trend cycles nowadays, the retailers send garment samples to manufacturers in Bangladesh frequently through expensive air shipments and they expect quick execution of the work orders.
Bangladesh’s stocks rebound amid post-Eid optimism
Bangladesh’s stocks returned to higher last week that ended on Thursday, after a single-week break, as investors took position on sector specific large-cap shares amid post-Eid optimism. Brokers said several factors like budget review expectation, June closing year-end earnings and dividend declarations coupled with post-Eid optimism prompted investors to inject fresh funds on stocks.
DSE gets 6 more months to find strategic partner
The Bangladesh Securities and Exchange Commission has extended time for the Dhaka Stock Exchange by another six months to find strategic investor as the bourse’s latest attempt to pick such investor failed. The BSEC decision came when members of board of directors of the DSE met the BSEC high-ups at the commission’s office in Dhaka on Thursday.
CNG filling stations to remain closed for 24hrs from midnight tonight
CNG filling stations will remain closed for 24hrs from midnight tonight due to maintenance work at Bibiyana gas field. Titas Gas authorities made the announcement earlier this week.