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.
WB fears sizeable revenue deficit this fiscal year
The government’s revenue shortfall during the current financial year (FY) might range between Tk 400 billion and Tk 450 billion, according to a World Bank (WB) projection. The government, however, fears a revenue shortfall of Tk 200 billion in FY 2017-18 due to non-enforcement of the new VAT law.
Gazprom exempted from liability of damage
The government has given a waiver to Russian company Gazprom even if it is responsible for any damage to the gas reserves due to any blowout or other accidents while drilling wells in different gas fields. Besides, the state-run companies that own the country’s gas fields, will have to pay the cost of new drilling equipments if those are damaged in any accident while Gazprom drills gas wells, according to a document prepared by Bapex with the key features of the contracts signed secretly with Gazprom last May.
Bangladesh’s seven banks suffer BDT 154bn capital shortfall
Bangladesh’s seven banks including five public ones have faced capital shortfall worth nearly BDT 154 billion in the second quarter (Q2) of this calendar year mainly due to higher classified loans. Two state-owned commercial banks (SoCBs) –Janata and Agrani –came out from the list of capital shortfall banks during April-June period of this year mainly due to decrease their classified loans, officials said.
Take enough preparations to protect Bangladesh’s interests: CPD
Bangladesh should undertake adequate preparation and be actively involved in agenda-building and negotiations in the context of upcoming ministerial conference of the World Trade Organisation, said the Centre for Policy Dialogue yesterday. “There is a need for more informed understanding about Bangladesh’s key interests in the context of the upcoming 11th WTO ministerial conference,” it said.
Bangladesh’s stocks end flat after record high
Bangladesh’s stocks ended almost flat on Tuesday as late hours sale pressure eroded all the initial gains. Market insiders said the market closed almost flat as optimistic investors showed their buying appetite on sector-wise stocks in the early trading while some investors opted for booking profit in the late hours, taking the market in the flat territory.
Four domestic airlines owe Tk 25.45b to CAAB
Four domestic airlines owe Tk 25.45 billion to the Civil Aviation Authority of Bangladesh (CAAB) in arrear fees and charges. State-run Biman Bangladesh Airlines (BBA) and three other private airlines owe the money to the CAAB in the form of charges for landing, parking, housing of aircraft and route navigation and embarkation fees, officials said. According to the officials, different non-aeronautical charges also remain outstanding with these four airlines.
Japan recruits technical interns from B’desh
Japanese companies are recruiting technical interns from Bangladesh free of costs and under the recruitment process, at least 10 technical interms would leave for Japan today. Expatriates welfare and overseas employment minister Nurul Islam asked the selected interns to continue their work in the Japanese companies showing utmost sincerity.
Indian cattle import dampens Bangladeshi farmers’ hopes
Bangladesh farmers fear the domestic cattle market will be flooded with cows from India ahead of Eid-ul-Azha, despite local farmers having reared a sufficient number of animals to meet the seasonal demand. That is because of the decision by Border Guard Bangladesh (BGB) to open the Bangladesh-India corridors for transnational cattle trade, which has dampened the hope of many farmers like Mohammad Imran Hossain, the owner of Sadeeq Agro in Dhaka.