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.
BTC prepares lists of 200 products for DFQF access to GCC market
Bangladesh Tariff Commission has prepared two priority lists containing 200 potential exportable products for seeking duty-free and quota-free access to Gulf Cooperation Council market. The lists have been prepared based on export capacity of Bangladesh, import demand of GCC countries—Bahrain, Kuwait, Oman, Qatar, United Arab Emirates and Kingdom of Saudi Arabia—and future potential for export to the countries, officials said.
Mega steel plant in the works
A consortium of 17 local companies and a Chinese steelmaker is set to invest $3.5 billion to establish a Bangladesh-China joint venture integrated steel plant in Moheshkhali. Of the sum, Kunming Iron and Steel Holding Company (KISC), a leading steelmaker from China, will foot $2.4 billion.
Bangladesh’s banks may open FX clearing account in RMB
Bangladesh’s banks have been allowed to open foreign currency clearing account with the central bank in Chinese yuan renminbi, generally known as RMB to facilitate bilateral foreign trade, officials said. Bangladesh Bank (BB), the country’s central bank, issued a notification in this connection on Tuesday and asked all authorised dealers (ADs) of foreign exchange in Bangladesh to follow the latest instructions.
BSEC fines Doreen Power for share price manipulation
Bangladesh Securities and Exchange Commission (BSEC) has fined seven high officials a total of Tk25 lakh and warned seven big investors in Doreen Power Generations and Systems Limited, for manipulating share prices through serial and insider trading. The decision was taken at a BSEC meeting presided by its chairman M Khairul Hossain on Tuesday.
Banks go rural for inclusive growth
The country’s commercial banks have made their presence significantly in the mostly unbanked rural areas in recent times. The urban-focused banks are going rural to help the government foster financial inclusion by bringing the people under coverage, sources said.
Ctg port gets three more gantry cranes
The Chittagong port’s fleet of quayside gantry cranes got bigger with the inclusion of three new cranes on Tuesday, which would boost the port’s container handling capacity. The assembling of the new cranes will take a few weeks starting from the Eid vacation, said Md Zafar Alam, member for admin and planning at Chittagong Port Authority (CPA).
Govt facilitates Tk 387cr monthly prize for telcos as users pay more
Bangladesh government has created a scope for three leading mobile operators to earn additional combined monthly revenue of around Tk 387 crore by introducing unified minimum rate of Tk 0.45 per minute, leaving the subscribers to feel the pinch of increased call rate. Four mobile phone operators, following a directive from the Bangladesh Telecommunication Regulatory Commission (BTRC) on Monday, implemented the new tariff rate, ranging from Tk 0.45 to Tk 2 per minute, on Tuesday, scrapping the provision of separate floor price for on-net and off-net of Tk 0.25 and Tk 0.60 respectively.
Small Capital Board to be formed in two months
Bangladesh is set to form a Small Capital Board within two months, in order to facilitate the raising of funds through Initial Public Offerings (IPOs) for small capital companies. The Small Capital Board was discussed at a meeting between the Venture Capital and Private Equity Association of Bangladesh (VCPEAB) and the Bangladesh Securities and Exchange Commission (BSEC), at the BSEC office in Agargaon yesterday.