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.
BGMEA plans to form platform like Accord, Alliance
Local garment makers have proposed the formation of a factory inspection and remediation agency similar to foreign agencies Accord and Alliance to strengthen workplace safety in the apparel sector. Once registered under relevant laws, the platform, to be called ‘Shonman’ (respect), would be run under the guidance of an ombudsman chosen by the Prime Minister’s Office.
IRD sets limit to income tax file audit at 25,000
Internal Resources Division of the finance ministry has set the number of income tax files for field audit limited to 25,000 for the last fiscal year 2016-2017 to save the taxpayers from harassment by tax officials. The IRD in a recent meeting decided to fix the tax files in number for audit instead of allowing a certain per cent of total returns, which was in practice until last year, officials have said
Expansion of Sutarkandi trade centre to boost Indo-Bangla trade
The Land Ports Authority of India has begun laying the groundwork for a Tk200 crore project to expand the Sutarkandi trade centre in Assam’s Karimganj, 45km away from Sylhet, to boost Indo-Bangla trade. The project is scheduled to start within two months. According to sources, the authorities concerned cleared 75 acres of adjacent land to the existing trade centre already for its extension.
Rice import duty to be cut further to boost supply
The government has decided to slash the import duty on rice further to keep the rice market stable through boosting supply of the prime staple. Food Minister Qamrul Islam disclosed the decision after a meeting of the Food Planning and Monitoring Committee held at the Secretariat in Dhaka on Wednesday. The import duty on rice will come down to 2.0 per cent from the existing level of 10 per cent, according to the decision.
Bangladesh’s stocks down on profit booking
Bangladesh’s stocks faced correction on Wednesday, after hitting highest level of the premier bourse’s core index on the day before, as risk-averse investor booked short-term profit on sector-specific stocks. Market insiders said investors mostly preferred to pocket profit on stocks that saw substantial gains in recent upsurge while some were busy rebalancing their portfolio.
BTRC sticks to its recommended voice call rates
The telecom regulator stuck to its original recommendation for minimum voice call rates even though the government sought for downward revision. The Bangladesh Telecommunication Regulatory Commission, after holding proper consultations with stakeholders, yesterday fixed the minimum on-net (calls between the same operator) call rate at Tk 0.35 per minute, up from existing Tk 0.25. The off-net rate (calls between different operators) has been fixed at Tk 0.45 per minute, down from existing Tk 0.60.
BIDA nod must be taken 3 months before expiry
Business people will have to take permission from the Bangladesh Investment Development Authority at least three months before the expiry of stipulated time for taking foreign loans if they want to extend the receiving period of the loans. Bangladesh Bank on Wednesday issued a circular to authorised dealer branches and offshore banking units of all banks saying that the scrutiny committee of BIDA in its 16th meeting took the decision as the businesspeople earlier had not taken permission in such cases.
Govt to ban staff using personal email
Government employees will no longer be able to use Gmail, Yahoo, Outlook or other email services for their official communication under a new initiative being taken to protect the privacy of government programmes and boost cybersecurity. The government will soon make the use of the ‘dot bd’ domain mandatory for all emails sent by government employees, and will also switch to using its own servers.