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.
Muhith rejects NBR claim over BB gold
Finance Minister AMA Muhith has shrugged off the anomalies raised by the National Board of Revenue about the weight and grade of the gold kept at the Bangladesh Bank’s vault. “The BB has no problem. What has been said about gold is absolutely useless talk,” he told reporters after a meeting with the deputy commissioners at the cabinet division yesterday.
BB allows Eurocurrency rates to encourage RFCD deposit
Bangladesh Bank (BB) has relaxed regulations allowing banks to pay interest on resident foreign currency deposit (RFCD) accounts at Eurocurrency deposit rates to encourage deposit in the accounts. The central bank of Bangladesh issued a circular in this connection on Tuesday and asked all authorised dealers in foreign exchange in Bangladesh to follow the latest instructions relating to pay interest on RFCD accounts.
Highest in price competitiveness, lowest in compliance: study
Bangladesh offers the most competitive prices for the readymade garment products in the world but sourcing from the country involves the highest compliance risks and the longest lead time, according to a recent study. The Department of Fashion & Apparel Studies of the University of Delaware in collaboration with the United States Fashion Industry Association conducted the study titled ‘The USFIA Fashion Industry Bench Marking Study 2018’.
BSEC fines Keya Cosmetics directors
Bangladesh Securities and Exchange Commission (BSEC) has fined each director of Keya Cosmetics Limited, apart from the independent and nominee directors, for a violation of securities laws. The decision was taken at a BSEC meeting presided by its Chairman M Khairul Hossain on Tuesday.
Bangladesh’s stocks slip into red after single-day
Bangladesh’s stocks finished marginally lower on Tuesday after volatile trading as investors were active both sides of trading fence amid ongoing earnings declarations. Following the previous day’s marginal gain, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened higher amid low trading activities.
Call to reintroduce tax benefit for solar energy
Power Division and stakeholders have requested the revenue board to reintroduce tax benefit for importing solar panels and cells to facilitate the use of renewable energy. They have sought exemption from the payment of Value Added Tax (VAT), Advance Trade VAT (ATV) and other forms of taxes on the import of equipment for solar home systems.
HSBC launches 8th export excellence awards
HSBC Bangladesh on Tuesday launched export excellence awards to recognise exporters for their contribution to the country’s economy. HSBC rolled out the eighth edition of the programme at a press conference held at the Pan Pacific Sonargaon Hotel in Dhaka.
5G demonstration in Dhaka Wednesday
A demonstration of 5G mobile network technology will be held at Sonargaon Hotel in Dhaka on Wednesday morning. Prime Minister Sheikh Hasina’s ICT advisor Sajeeb Ahmed Wazed Joy announced the event in a Facebook post on Tuesday. “We will be doing a 5G technology demonstration tomorrow morning. Please watch,” he wrote.