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.
State minister Mannan blames improper communication
State minister for finance and planning MA Mannan on Wednesday blamed improper communication between Customs Intelligence of the National Board of Revenue and the Bangladesh Bank for the mismatch in quality and quantity of gold in the central bank vault. News on the basis of allegations made by Customs Intelligence was not true, he told reporters after a meeting with the officials of the Bangladesh Bank, the National Board of Revenue and the Financial Institution Division at the ministry.
Project underway to facilitate trade: Tofail
Bangladesh has started making efforts to improve ease of doing business and boost trade facilitation by adopting projects and establishing greater regional connectivity, Commerce Minister Tofail Ahmed said yesterday. Poor connectivity is one of the major barriers to regional trade for Bangladesh, although many countries have already resolved such crisis by creating a single window for business, he said.
CBC suggests change in ownership in foreign cos
The Customs Bond Commissionerate (CBC) is for imposition of restriction on issuance of bond licence to the factories having cent per cent ownership of foreign nationals. The CBC has submitted a proposal to this effect to the National Board of Revenue (NBR) to check abuse of the duty-free facility.
Bangladesh’s stocks edge up after volatile trading
Bangladesh’s stocks posted a marginal gain on Wednesday after volatile trading as investors opted for buying shares amid ongoing earnings declarations, market operators said. The market opened on higher note and key index of the premier bourse gained about 23 points within first 30 minutes of trading.
Two companies to be delisted from DSE
The Dhaka Stock Exchange (DSE) authorities on Wednesday decided to delist two companies who have been incurring continuous losses and not been in production for over five years. The two companies are Rahima Food Corporation Ltd and Modern Dyeing & Screen Printing Ltd. Although both companies are no longer in production, their shares were still being traded on the DSE at inflated prices.
BTRC sets conditions for co-branding of handsets by telcos
Bangladesh Telecommunication Regulatory Commission has issued a set of conditions for co-branding of handset and USB modem by the mobile phone operators. Under the conditions, mobile phone operators would not be allowed to import handsets, instead they will have to import handsets through BTRC-enlisted vendors subject to prior approval from the commission, said a BTRC directive issued recently.
US wants B’desh to withdraw cotton import restrictions
American cotton industry leaders have called for lifting the age-old fumigation rules on the import of US commodity in Bangladesh. Fumigation not only imposes an additional cost burden on the importers and spinners of Bangladesh but also results in increased lead time, they said.
Junk shares reign over Dhaka bourse
In a curious development, five junk stocks were among the top ten gainers of the premier bourse yesterday. “This is a very bad sign for the capital market,” said Monzur Morshed Khan, managing director of Trust Bank Investment, a merchant bank.