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.
Germany overtakes US as Bangladesh’s largest export market in July-Nov
Germany has overtaken the US as the Bangladesh’s largest export market in five months of the current fiscal year because of a huge rise in export earnings from the EU country against a slowdown in the elections-gripped US market. Export earnings boost from major EU countries, including Germany, helped the country heal the bruises it suffered from the downward trend in the US and the Brexit-hit UK markets in the July-November period of the FY 2016-2017.
75-80pc consumers think VAT never goes to govt
A study has found high-level mistrust among the people regarding VAT, as about 75-80 per cent of consumers think that their VAT payment never goes to the government account. The study, conducted by the National Board of Revenue (NBR), also revealed that 70 per cent of the businesses consider VAT as their money. They think that the government is taking away VAT from their profit, it added.
Mobile money drives financial inclusion
Financial inclusion expanded 8 percentage points year-on-year in 2015, driven by growth in mobile money, according to a recent study. About 43 percent of Bangladeshis are financially included, says the study conducted by Washington-based research company InterMedia with funding from the Bill and Melinda Gates Foundation based on statistics of 2015.
BPC seeks state guarantees for taking foreign loans for oil imports
The finance ministry has attached conditions for providing ‘sovereign guarantee,’ Bangladesh Petroleum Corporation sought for borrowing from abroad, said officials. They said that the finance ministry was unhappy over state owned BPC over its feet dragging in slashing fuel oil prices. The condition attached by the finance would require BPC to immediately deposit Tk 3,000 crore from the profits it earned over the last two fiscals for borrowing $500 million from the Islamic Development Bank.
Consensus on decent jobs in Bali
Governments, employers and workers agreed to promote decent work for inclusive economic growth and reduce inequality to ensure social justice in the Asia Pacific and Arab states. The tripartite consensus on decent work for ensuring social justice through an inclusive growth was declared at 16th Asia and the Pacific Regional Meeting held in Bali, Indonesia last week.
Bangladesh’s imports grow by 14.75% in July-Oct
Bangladesh’s overall imports grew by 14.75 per cent in the first four months of the current fiscal year (FY) mainly due to higher import of capital machinery. The actual import in terms of settlement of letters of credit (LCs) rose to US$15.14 billion during the July-October of FY 2016-17 from $13.19 billion in the same period of the previous fiscal.
No proof yet that BB officials were involved in cyber heist: CID
The Criminal Investigation Department is yet to get proof nine months into its probe that any Bangladesh Bank official benefitted financially from the cyber heist in February. “Different issues such as account information of Bangladesh Bank officials are being investigated. We have not yet got any evidence of their benefitting financially,” Shah Alam, additional deputy inspector general of CID, told reporters yesterday.
Bangladesh’s stocks extend gaining spell for six weeks
Bangladesh’s stocks extended their winning streak for the sixth straight week that ended on Thursday, as optimistic investors continued on buying spree amid growing confidence. The week witnessed five trading sessions as usual. Of them, first session saw marginal correction while last four closed higher with increased participation from investors.