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.

BB may sue Fed to get stolen reserves
Finance Minister AMA Muhith hinted Wednesday that the Fed might be sued for recovering the Bangladesh reserves heisted from the US central bank, as Philippine authorities shirked the responsibility.”I am not sure whether the issue can be taken to the international court of justice. But we may file case against Fed to recover the money,” the minister told newsmen at Bangladesh Secretariat.

BPC to save $2.91m on fuel imports over six months
The government is set to import about 1.18 million tonnes of petroleum products from two Singaporean companies under competitive bidding — a move that will save the public exchequer about $2.91 million. The premium, which is the cost of shipping petroleum products and includes freight charges and insurance, will be $2.16 to $2.08 per barrel for gas oil and $2.76 for jet fuel for imports between January to June next year.

Slovenia wants to increase garment imports from Bangladesh
Visiting Slovenian Deputy Minister of Agriculture, Forestry and Food Tanja Strnisa yesterday said her government will take steps to increase import of RMG products as there is huge demand of Bangladesh apparel products. Meanwhile, Bangladesh government assures taking necessary steps to enhance RMG export to the European country. Tanja Strnisa came up with the remarks after meeting with Commerce Minister Tofail Ahmed at his office in Dhaka.

Bangladesh Bank intervenes in FX market
The central bank of Bangladesh has intervened in the inter-bank foreign exchange market through selling the US dollar to the banks directly after more than a year. As part of the move, the Bangladesh Bank (BB), the country’s central bank, sold US$8.0 million to a state-owned commercial bank (SoCB) on Monday to meet the growing demand for the greenback.

DSEX crosses 4,800-mark
Bangladesh’s stocks returned to the green on Wednesday, with key index of the premier bourse crossing the 4,800-mark after 14 months, as investors took position on some large-cap stocks amid optimism. Brokers said the market returned to winning streak amid volatile trading, as optimistic investors were active on sector specific stocks, especially later part of the session.

Tk 30.26b income tax comes from 0.93m returns
The government received over Tk 30.26 billion in income tax against around 0.93 million returns submitted until 7:0pm Wednesday, the last return-submission date for individual taxpayers, officials said. The National Board of Revenue (NBR) received 111,797 income-tax returns and Tk 2.73 billion in income tax on Wednesday alone, said an NBR press statement.

China finally agrees to ‘limited bidding’ for projects
The government is set to introduce ‘limited bidding’ for projects that would be implemented with Chinese soft loans after Beijing officially gave the nod to Dhaka’s proposal. The Chinese government will decide when the limited bidding process will be applied, Finance Minister AMA Muhith told reporters yesterday after a meeting of the cabinet committee on economic affairs, where the decision to introduce the new method was taken.

Bangladesh wants to return stolen funds from RCBC in Philippines
Bangladesh Bank (BB) wants Rizal Commercial Banking (RCBC) in the Philippines to return the balance of $81 million stolen from the central bank’s account in New York early this year. Law Minister Anisul Huq led a high-level delegation to Manila to meet Philippine counterparts and seek official assistance retrieving the outstanding $66 million, reports Nikkei Asian Review.