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.
Govt cuts tax, duty on ATM, CCTV parts
The government has offered tax and duty benefits on import of various parts for producing and assembling ATM machine and CCTV camera in the Hi-tech Park at Kaliakoir in Gazipur. Customs Duties (CD) on import of parts have been reduced to 1.0 per cent and 10 per cent from the existing variable rates of up to 25 per cent.
BB to file case by January for stolen reserve
Finance minister AHM Mustafa Kamal said on Sunday that the Bangladesh Bank would sue Rizal Commercial Bank Corp of the Philippines by January for stolen reserve fund stolen as the deadline for the filing of the case would expire on February 3.
Banks blame influential quarter for rising bad loans
Habitual and influential defaulters are the main barriers to bringing down delinquent loans in the state-owned commercial banks, according to the assessment of the lenders. The banks placed separate reports to the finance ministry last month articulating the major reasons behind their rising defaults loans and ways to bring them down.
Indo-Bangla traders’ meeting held in Hili
A meeting to address various allegations between Bangladeshi and Indian traders was held near the border in Hili on Sunday. Importers, exporters, as well as C&F agents from both the countries participated in the meeting to resolve their issues, which was held near the BGB check post at Hili border gate number 285.
Household debt makes up half of NBDCs’ total portfolio
Non-bank depository corporations’ (NBDCs) household debt accounts for half of the total loan portfolio, which might make them vulnerable to any major shock in the sector, though it is unlikely due to highly populated land demanding country, an official report has said.The NBDCs refer to deposit taking non-banking financial institutions (NBFIs), Ansar-VDP Unnayan Bank, and Karma Sangsthan Bank provided the loans between 2014 and 2017, according to the Bangladesh Bank (BB)’s latest study report released on Sunday.
Jute goods makers target green consumers
Jute goods manufacturers are taking part in the Dhaka International Trade Fair (DITF) to catch the attention of foreign buyers on the back of quality products and growing use of the eco-friendly items. Mohammad Wasiur Rahman, proprietor of Craft N Kraft, said he has brought more than 100 items to the fair including shopping bags, laptop bags, seminar bags, showpieces, baskets and backpacks for both foreign buyers and domestic clients.
Farm loan disbursement drops by 4.87pc in Jul-Dec
Farmers’ loan receipt from banks dropped by 4.87 per cent or Tk 524.33 crore in the first half of the fiscal year of 2018-2019 compared with that in the same period of the previous fiscal year. As per the latest Bangladesh Bank data, state-run, private and foreign banks disbursed Tk 10,231.41 crore in farm loans in July-December of FY19 against Tk 10,755.74 crore they had disbursed in the same period of FY18.
Bangladesh’s stocks rebound strongly on Sunday
Bangladesh’s stocks rebounded strongly on Sunday, after remaining down in the past two sessions, as investors showed their buying spree on sector-wise issues. Analysts said investors were active on sector-wise stocks throughout the session amid growing confidence to the market.
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