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.
Power tariff set to go up again
Electricity tariff is set to go up again as the energy regulator has accepted revised proposals of state-run power distribution entities to raise tariffs despite a significant fall in government’s subsidy for this sector, officials said. The Bangladesh Energy Regulatory Commission (BERC) has decided to hold a seven-day public hearing on the proposals starting from September 25.
NSCs net in Tk 5,053cr in July as rush continues
People continued to invest heavily in national savings certificates and bonds in the first month of the new fiscal year with net investment rising by 44.45 per cent in July compared with the figures of the same month of last fiscal year because of low bank rates. According to the latest Directorate of National Savings data, the net investment in the savings instruments increased to Tk 5,053.54 crore in July of FY 2017-18 compared with that of Tk 3,498.37 crore in the same month of FY17.
VISA, MasterCard, Amex take away Tk37cr from Bangladesh in 4 years
International payment services like VISA, MasterCard and American Express (Amex) have earned about Tk37 crore as charges for credit card transactions from Bangladesh between 2013 and 2016, as the country does not have a national payment scheme. It is estimated that they will earn more than Tk12.92 crore by the end of 2017. These charges are not taken from the card users directly; rather, the merchants who use point of sales (POS) machines to receive payments from the customers have to pay them.
Pricing for LNG import fixed
Bangladesh’s maiden liquefied natural gas (LNG) import is one step closer to fruition after the cabinet gave the green light to the pricing and draft contract for the deal. The government will sign a 15-year contract with Qatar’s RasGas as it makes an earnest push towards addressing Bangladesh’s gas scarcity.
Bangladesh’s stocks extend winning streak for second week
Bangladesh’s stock market passed an eventful week that ended on Thursday, as the core index of the prime bourse exceeded the 6,000-mark for the first time after its inception in January 2013. Brokers insiders said after several futile attempts in last few days, DSEX finally budged up, crossing 6,000 points level for the first time since its inception in more than four-and-a-half years ago.
Rawhide price falls by 39pc in four years
Rawhide and skin prices fell by 39 per cent in last four years allegedly due to manipulations by syndicates of tanners and merchants. The government fixes the price just as the two syndicates dictate, leather economists told New Age. The undiminishing influence of the two syndicates deprives fair price to hide and skin sellers during Eid-ul-Adha, when over 50 per cent of supplies reaches the domestic hide market, they said.
Pre-Eid cash withdrawal drives call money rate up
The inter-bank call money rate moved slightly up this week mainly due to higher occasional withdrawal of liquid money from the banks ahead of the Eid-ul-Azha. The rate ranged between 4.0 per cent and 4.5 per cent on Thursday, the last working day before starting the Eid holidays, than that of the previous week’s range between 1.8 per cent and 4.5 per cent.
Banks get a boost from Eid sales thru’ credit cards
Banks are offering discounts on home appliance purchases through credit cards this Eid-ul-Azha as they look to cash in on the shopping frenzy surrounding the religious festival. Typically around the time of Eid-ul-Azha, the demand for refrigerators and freezers soars, as people look to ensure that the meat of the sacrificial animals is well-preserved for long.