Photo: New Age
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.
Probe blames improper inventory for coal theft
A probe committee submitted its report on Wednesday blaming improper maintenance of inventory for disappearance of coal while a case was filed against 19 Barapukuria Coal Mining Company Limited officials for the scam that caused closure of a power plant and power supply disruption in Rangpur division. The inquiry committee led by Petrobangla director (mining) Quamruzzaman submitted its report to state-minister for ministry of power, energy and mineral resources Nasrul Hamid at about noon, ministry officials said.
CAB: Curb corruption in gas sector, set fair prices
The Consumer Association of Bangladesh (CAB) has demanded that widespread corruption be curbed in the gas sector, and urged that fair gas prices be set. CAB authorities made the demands at a press conference held at Sagor-Runi Conference Hall of Dhaka Reporters’ Unity on Wednesday.
Capital market continues to lose its depth
The ratio of market capitalisation to GDP, one of the major indicators of measuring depth of a market, was less than 17 per cent in fiscal year (FY) 2017-18 from its peak of about 34 per cent nine years ago in FY 2009-10, the year that saw the market indices skyrocketing for no reasons. The ratio, 17.52 per cent, in 2008-09 was more than the present level -- 16.94 per cent. It reached a record level in FY 2009-10 before collapsing.
Cable industry flourishes
Bangladesh's cable market is growing at 15-20 percent a year thanks to the expansion of power gridlines as the government looks to provide electricity for all by 2021. In 2017, the cable manufacturing industry was worth about Tk 6,000 crore, up from Tk 2,000 crore 10 years ago, according to Ushamoy Chakma, managing director of Eastern Cables.
BB sets BDT 218b agri credit target for FY ‘19
The central bank of Bangladesh has set an agriculture credit disbursement target of BDT 218 billion for scheduled banks for the current fiscal year (FY), 2018-19. The total loan has been estimated at nearly 7.0 per cent higher than the target set for the last FY, according to the Bangladesh Bank (BB) officials.
Muhith tags tax waiver to gas price rationalization
Finance minister Abul Maal Abdul Muhith has tagged the tax exemption on import of liquefied natural gas and its local supply with the downward rationalisation of gas prices in the domestic market. Once the local supply of LNG through the national pipeline begins, gas prices would rise. Bangladesh Energy Regulatory Commission recently held a public hearing on the gas price hike keeping an eye on the LNG supply.
WB mission in town to discuss $750m budgetary credit line
The World Bank (WB) has decided to provide US$ 750 million in budgetary support after fielding a mission in Dhaka to discuss the potential lending, officials said on Wednesday. Officials said a mission from the bank's headquarters is now discussing with government agencies to work out the way of fulfilling the new indicators for securing the loan.
Income inequality hinders inclusive growth: experts
The rise in income inequality in Bangladesh is the main obstacle to achieving inclusive growth, said experts yesterday. “Though Bangladesh has been experiencing sustained growth in recent years, the country is failing to produce sustained improvements in human welfare for regions equally,” said M Abu Eusuf, former chairman of the University of Dhaka's development studies department.
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