BBN file photo
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.
Markets in the US, EU: Bangladesh’s denim exports see healthy growth, beating China
Bangladesh’s denim manufacturers have seen a healthy rise in export of denim products in the markets of the US and European Union (EU), beating its biggest competitor China as the world’s second largest economy posted only a moderate growth. From January to August of 2018 Bangladesh’s denim export saw steady growth both in US and the EU markets. The EU consists of 28 countries and is the largest destination for Bangladesh’s denim goods.
Tax collection falls Tk 11,430cr short of target in Jul-Sept
Revenue collection by National Board of Revenue fell short of target by 20 per cent or Tk 11,430 crore in the first quarter (July-September) of the current fiscal year due mainly to negative growth in the collection of value-added tax and poor performance by customs and income tax wings in the period. Taxmen managed to collect Tk 45,817 crore in July-September of FY 2018-2019 against the collection target of Tk 57,247 crore for the period, according to the NBR provisional data.
Teletalk to inject Tk 5,554cr to boost network
Teletalk is set to go on a massive investment haul to expand its network and upgrade its existing infrastructure with the view to getting it up to speed with its nimble-footed competitors. The operator is now dealing with five separate projects involving Tk 5,554.24 crore to establish 6,800 new towers with a mixture of 2G, 3G and 4G capability and upgrade 5,494 of its existing towers to 3G and 4G, according to a document of the parliamentary standing committee.
BR inks deal to buy 200 coaches from China
The Bangladesh Railway (BR) will purchase 200 metre gauge coaches from China at a cost of Tk 84.97 million to improve its passenger services in the country. To this effect, the state-owned train operator signed a contract with a Chinese company named CRRC at Rail Bhaban on Sunday.
BKB, RAKUB advised to mobilise low-cost deposits
The central bank of Bangladesh has asked two state-owned specialised banks (SBs) – BKB and RAKUB – to take effective measures for making operational profit through mobilising low-cost deposits instead of high-cost funds. The instructions were given at a review meeting, held at Bangladesh Bank (BB) headquarters in Dhaka on Sunday with BB Governor Fazle Kabir in the chair, officials said.
Export of agro-products rises 27pc
The country's export earnings from processed agro-products crossed US$635 million in fiscal year (FY) 2017-18, thanks to the growing global demand. The amount was around 27 per cent higher than that of $500 million in FY '17, according to the Bangladesh Agro-Processors Association (BAPA).
Recent economic growth favoured the wealthy: Debapriya
The economic growth in recent years has favoured the richest section of the society and the disparity increased between 2010 and 2016, said Debapriya Bhattacharya, a distinguished fellow of the Centre for Policy Dialogue, in a lecture yesterday. The country, which posted 4.53 percent GDP growth during 1991-95, grew 6.32 percent from 2011 to 2015. The per capita GDP and per capita gross national income experienced an almost fivefold increase between 1990 and 2017.
BGMEA rejects DIFE plea to stop UD issuance
Bangladesh Garment Manufacturers and Exporters Association on Sunday turned down the request of Department of Inspection for Factories and Establishments to stop issuance of utility declaration for 131 member factories for non-compliance. After one and a half month of the request of DIFE, BGMEA informed that it would not be appropriate to stop issuance of UD before January 2019 as there were some export orders in the factories.
BBN/SSR/AD