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.
Country moves to import cash dollar
The central bank of Bangladesh moves to import cash US dollar through a commercial bank to feed a growing demand for the greenback on the market. Officials said the disclosure was made at a meeting of bankers, held in the central bank headquarters in the capital Tuesday with Bangladesh Bank (BB) Governor Fazle Kabir in the chair. “We’re now working for importing the cash US dollar after the waving of all kinds of taxes on such import,” SK Sur Chowdhury, deputy governor of the BB, told the FE after the meeting was over.
Inflation lowest in 53 months
Inflation came down to 5.03 percent in December, the lowest in 53 months, helped by a steady decline in non-food prices since June as well as a lack of supply disruption thanks to a stable political environment. “Political stability played a key role in reducing consumer prices,” said Planning Minister AHM Mustafa Kamal as he disclosed the inflation figures at the Planning Commission in the capital. Overall, inflation went down 35 basis points in the last month of the year from November’s 5.38 percent, according to official statistics.
19 deals ready for signing so far
The governments of Bangladesh and India have finalised 19 deals till Tuesday for signing during the official visit of Prime Minister Sheikh Hasina to India in the second week of February. The two sides have been working on over a dozen more deals for signing during the visit, government officials said after an inter-ministerial meeting held on Tuesday to assess preparations of the visit.
NBR chief: E-TIN must to get loans
NBR Chairman Md Nojibur Rahman has urged the financially capable taxpayers to have their e-TINs. “It’s a must for a person to have an e-TIN to get loan worth over Tk5 lakh, excepting the microcredit loan seekers,’’ said NBR boss at a dialogue on ‘consumer rights and revenue’ held at NBR headquarters in the city yesterday. Nojibur Rhamn also told the dialogue that a total of 26.30 lakh e-TINs have already been registered against the target of 25 lakh this year.
Bangladesh’s stocks extend rally for 8th day
Bangladesh’s stocks extended their winning spell for the eight consecutive sessions on Tuesday having supported by large-cap stocks. Analysts said insiders said the recent stable scenario of market coupled with healthy turnover attracted the sideline investors to take fresh positions in lucrative stocks. Maintaining the previous day’s upward trend, the market opened with an optimistic note with the key index of the major bourse gaining about 31 points to reach at 5,150 within first 10 minutes of trading.
Govt completes offloading 10pc more shares of DESCO, raises Tk 144cr
Government on Tuesday completed offloading of 10 per cent additional shares of Dhaka Electric Supply Company held by the state-owned Bangladesh Power Development Board raising around Tk 144.35 crore from the capital market. Market sources told New Age on Tuesday that the offloading of DESCO shares at the capital market — through Dhaka and Chittagong stock exchanges — has been completed successfully at a satisfactory rate.
Textile millers go for water saving tech
Textile companies have started adopting water saving technologies as Bangladesh is one of the highest water consuming countries for washing and dyeing fabrics. Garment factories use more than 250 litres of water for washing and dyeing one kilogram of fabrics while the global best practice is 70 litres. Bangladesh’s textile mills consume 1,500 billion litres of groundwater a year for washing and dyeing fabrics, according to a report — Bangladesh-The Netherlands: 50 years of water cooperation. The report was published recently by Partners for Water Programme of the Netherlands in cooperation with the Bangladesh government.
Big projects run with borrowed manpower
Government agencies make-do with experts hired from one another in executing mega-projects in transport sector as the authorities overlooked one essential task — raising a pool of skilled manpower. Sources pointed out that the departments and agencies under the Ministry of Road Transport and Bridges (MoRTB) failed to develop their own base of skilled manpower though they were executing many large-scale projects like metro rail, highways and Padma Bridge.