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.
Stakeholder’s Emergency meeting held to prop-up share market
Securities regulator and stakeholders at an emergency meeting on Tuesday decided to form a Joint Working Committee (JWC) to identify reasons behind the recent sharp fall in indices and prop up the jittery markets with policy supports and fresh liquidity. The meeting was informed that the Investment Corporation of Bangladesh(ICB) will invest Tk1,500 crore in the capital market next week to ensure available liquidity in the fund-crunch market, caused mainly to investors’ wait and see policy ahead of the upcoming national election, meeting sources said.
US$ price in kerb market goes up
Exchange rate of cash US dollar against the local currency in the banking channel and also in the open market, known as kerb market, has increased by around Tk 1.0 in a week, traders said. The US currency rate reached Tk 86.70 on Tuesday, as the demand for the greenback has gone up lately. It was Tk 85.70-85.80 last week, they added.
Domestic fridge, AC makers given a fillip
The revenue authority has waived value-added tax and supplementary duty on the import of raw materials to make compressors of refrigerator and air conditioners with a view to facilitating local manufacturing. The VAT exemptions on production of compressors, refrigerators and AC have been awarded until June 30, 2021, according to two notifications issued by the National Board of Revenue on Sunday.
Bangladesh brand value rises, ranked 38th in globe
Bangladesh has been ranked 38th most valuable nation brand in 2018 as it jumped by six steps from 44th position in 2017, according to a global report on the most valuable nation brands. London-based Brand Finance in its latest report published on October 10 said that brand value of Bangladesh as a nation increased by 24 per cent to $257 billion in 2018 from that of $208 billion in 2017.
Petrobangla plans to import LNG from Oman by May
State-run Petrobangla has planned to start importing lean LNG from Oman Trading International (OTI) by May 2019, one year after inking a sales and purchase agreement (SPA). Petrobangla and OTI agreed last week to initiate LNG import and re-gasify it in the FSRU at Moheshkhali Island in the Bay of Bengal, a senior Petrobangla official said.
India eases norms for Bangladeshi LPG tankers
India has decided to ease norms for allowing Bangladeshi tankers carrying bulk LPG to enter its territory and carry the same to Bishalgarh bottling plant in Tripura state. The Indian road transport ministry has relaxed the norms for the vehicles registered in Bangladesh to ply in India for the purpose and they would not require any compliance with Indian norms, official sources here said.
DoT reg made mandatory for apparel factories
Textile Act-2018 which was passed recently made it mandatory for the textile owners to get registration from the Department of Textile for running their business. As per the act, all sub sectors of textiles including primary textile, readymade garment, allied textile, packaging and accessories manufacturers and buying house, would remain under the control of the Department of Textiles under the textile ministry.
Aarong to explore potential of e-commerce for intl market
Aarong, Bangladesh’s largest lifestyle retailer and social enterprise of Brac, is planning to directly reach out to customers on the international market in the near future. “We have targeted non-resident Bangladeshis [NRBs] for export opportunities. We are continuously receiving requests from them, via social media and other ways, that they want Aarong products in their countries,” said Brac Senior Director Tamara Hasan Abed.
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