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.
Wholesale rice prices fall, retail unchanged
Prices of rice fell at the wholesale level in the capital after millers slashed their prices, wholesalers and retailers said yesterday. However, prices remained unchanged at retails.
Govt’s borrowing from banks on track to rise
The government’s higher borrowing from both the central bank and commercial banks is set to pick up mainly due to revenue shortfall in recent months, officials and bankers said. The previous borrowing, which was availed by the government to meet extra expenses for holding the December 30 national polls, is being adjusted, they said.
Confusion deepens over date of export tax cut effectiveness
Stakeholders, mainly banks, are in confusion about the date when the reduced rate of source tax on export proceeds of readymade garment and other sectors would take effect. Some banks have been implementing the new rate at 0.25 per cent since January 1, the date when the rate was revised through a statutory regulatory order, while some other banks have been implementing the rate from July 1.
BB received 5,731 complaints against banks in 2018
Bangladesh Bank (BB) received 5,731 complaints from bank clients last year. According to BB data, 3,058 complaints were received over telephone, 2,404 were written and 233 were sent online. While most of the complaints were related to loans and advances, clients also complained about card services, remittance, and other services.
Profit booking pulls Bangladesh stocks down
Bangladesh’s stocks witnessed a mild correction on Wednesday, after a single-day break, as investors booked quick-profit on sector-wise issues. Brokers said stocks returned to the red as some investors opted for booking profit on stocks which saw sharp gain in recent price upsurge.
Lending rates edging up
The interest rate on lending is on the rise amid high import pressure and hunt for deposits at the end of last year. In November, the weighted average interest rate stood at 9.5 percent, up from 9.47 percent the previous month, according to data from the Bangladesh Bank.
No voice, data pack below 7-day validity after Jan 27
There would be no voice and data packages and offers of the mobile phone operators having validity below seven days after January 27, BTRC officials said. Bangladesh Telecommunication Regulatory Commission on Wednesday reissued its directive that was first issued on December 6, 2018 with the instruction that the mobile phone operators must close such packages and offers by December 9.
Trade, polls top agenda of US-BD FOC meeting
Trade and investment promotion as well as the December 30 general election will be high on the agenda of the US-Bangladesh foreign office consultation (FOC) meeting, to be held in Washington on January 22. “From our side the main agenda will be how to woo more US investment in Bangladesh. Political issues will also be discussed,” a senior official of the Ministry of Foreign Affairs (MoFA) told the FE on Wednesday.