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.
Banks’ mgmt in dilemma over lending rate cut implementation
Management at most of the banks in Bangladesh are in dilemma about how to implement the bank owners’ decision to cut lending rate to single digit (9 per cent) keeping the deposit rate at 6 per cent as they fear the hurriedly taken move would put the financial health of the embattled banks at further disarray. As per the announcement made by the bank owners, 9 per cent lending rate for the productive sector was supposed to be implemented from July 1 but banks are yet to implement the rate as they are busy calculating its impact.
Access to financing the major barrier for e-commerce start-ups
Access to entrepreneurial financing is the major barrier for e-commerce start-ups in Bangladesh, says a recent global report coming from ADB and UN. The country is also suffering from huge rural-urban divide and gender disparity when it comes to e-commerce activities, said the report.
ADB to give $2b for development projects
The Asian Development Bank will give $2 billion in loans to Bangladesh this fiscal year – 66.66 percent higher than it did last year – to help the country implement the ongoing development projects, said Finance Minister AMA Muhith yesterday. Muhith disclosed it to reporters after a meeting with ADB Country Director Manmohan Parkash at his secretariat office.
BB to start formulating growth-supportive MPS
The central bank of Bangladesh is set to start preparations to formulate upcoming monetary policy, giving top priority to achieve maximum economic growth with keeping the inflation under control. The first preparatory meeting on the monetary policy statement (MPS) will be held at Bangladesh Bank (BB) headquarters in the capital on Monday with BB Governor Fazle Kabir in the chair.
Bangladesh’s stocks edge up amid volatile trading
Bangladesh’s stocks inched up on Sunday after volatile trading throughout the session as risk-averse investors went on late hours selling binge. The market opened on high note and the key index of the prime bourse crossing the 5,400-mark, gaining 44 points in the mid-session.
Minimum Wage Board for RMG industry extends proposal deadline
The Minimum Wage Board for the garment industry on Sunday extended the deadline for proposals to July 16. On March 19, in its first meeting the Minimum Wage Board asked the workers and owners representative to place the minimum wage proposals by April 25. During that meeting, several trade unions staged demonstrations in front of the Minimum Wage Board office demanding Tk18,000 as minimum wage.
Baffling rise of Monno Jute’s share price
Monno Jute Stafflers yesterday became the most valued stock on the Dhaka Stock Exchange, overtaking British American Tobacco Bangladesh Company in what can be viewed as a curious development for the premier bourse.
Salaried persons with doubtful bank balance to face NBR audit
Salaried persons will face audit if income tax officials find inconsistency between the income shown by taxpayers and the fund credited to their bank accounts. The National Board of Revenue, in its recent guidelines on income tax returns selection for audit, asked its field-level income tax officials to scrutinise bank statements of salaried persons submitted with the tax returns to see whether there is any inconsistency between the income showed in returns and the fund credited to their bank accounts.