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.
Hat-trick for Hasina
Awami League President Sheikh Hasina has led her party to a third consecutive win in parliamentary polls, securing two-thirds majority in yesterday’s election held in an atmosphere dominated by the ruling party men. Hasina is set to become the prime minister for the third straight time — an unprecedented feat in the country’s history.
Some PCBs earn higher operating profit in 2018
The operating profits of the country’s private commercial banks (PCBs) witnessed a healthy growth in the outgoing year, even if soured loans are on the rise, bankers said. Most of the banks, excepting a few, maintained their operating profits growth, despite the declining trend in interest rate spread, they said.
Ministry suggests NBR give tax benefits for local car industry
The industries ministry has requested National Board of Revenue to formulate an investment-friendly tax policy for the automobile industry having the potential for growth to encourage domestic production and assembling of motor cars in the country. In a letter to NBR chairman Md Mosharraf Hossain Bhuiyan, the ministry on December 17 made the recommendation that tax benefits at local production and supply stages and on import of raw materials and spare parts for the sector should be given.
Price of imported onions rises by Tk7-8 over a day in Hili
The price of imported onions has jumped by Tk7-8 in the span of just a day, at Hili Land Port, on Friday. According to sources at the port, Indore, Gujarat, and Hooghly—three imported onion varieties from India—are being sold at Tk18-20 per kilogram. The prices had hovered between the range of Tk10-13 per kilogram on Thursday.
Banking sector passes year with sluggish deposits growth
One more a year passed with sluggish growth in deposits in the banking system, though different measures were taken by the government and the central bank to improve the situation. Lower deposit growth is creating liquidity pressure on the money market gradually, which may also put an adverse impact on the overall banking business in 2019 unless the situation improves shortly.
Year’s last week end higher despite political tension
Bangladesh’s stocks extended gain last week that ended on Thursday as some investors brought shares despite political tension. The prime index of the major bourse posted a 2.29 percent return, the last week of 2018, as the prominent sectors performed well led by banking and telecom.
Vegetables prices go up, fish become scarce
The prices of a number of essential commodities went up in the city markets on Sunday due to a supply shortage as transportation remained suspended across the country. Traders said that the prices of vegetables increased in the city’s kitchen markets due to lack of transportation of the items as Election Commission imposed a ban on plying motorised transports across the country for 24 hours from Saturday midnight to facilitate casting of votes in the 11th parliamentary elections on Sunday.
Economists: Get prepared, or face 9.6% tariff in EU after 2024
Industrial sector has to be well-prepared to ward off any adverse consequences in exporting products to countries under the European Union (EU) after Bangladesh’s graduation to a developing nation in 2024, experts said on Thursday. In case the country fails to avail the GSP Plus facility, products originating from Bangladesh will face around 9.6% tariffs to enter into the EU nations, they added.