Dhaka, Bangladesh (BBN)– The BBN (Bangladesh Business News) has prepared the morning news highlights compiling reports, published by different newspapers and news portals in Bangladesh.
POLLS TODAY AS TENSION RUNS HIGH
Dhaka South City, Dhaka North City and Chittagong are set to go to mayoral polls today in the backdrop of opposition BNP candidates expressing doubts whether the polling would be free and fair. In the capital out of 1, 982 polling stations 1,429 have been marked as vulnerable by Dhaka Metropolitan Police. But the DMP gave no break up the vulnerable polling stations in DSC and DNC. DMP said it has taken special security measures for the vulnerable polling stations.
MOBILE OPERATORS SEEK TAX CUTS
The mobile operators once again appealed to the revenue authority to reduce the corporate tax rate for the sector on the grounds that the current 40-45 percent is ‘discriminatory’. At present, a non-listed mobile operator has to pay 45 percent tax and a listed one — which is only Grameenphone for now — 40 percent. In contrast, excluding banks, insurers and other financial institutions and cigarette makers, companies that are not listed with the stock exchanges have to pay 35 percent tax on their annual incomes. Listed companies have to pay 27.5 percent corporate tax.
MORE BUDGETARY FUNDS FOR AGRICULTURE SOUGHT
Economists and experts have sought an increased allocation for agriculture in the 2015-16 national budget because of the sector’s crucial role in food security. They said, given props, agriculture will continue to record successes as it did in recent years. Experts said in terms of total budgetary allocations, share of the agriculture sector in the upcoming financial year 2015-16 (FY’16) should not decline.
56 INDIVIDUALS TO GET CIP STATUS FOR FY14
The government has finalised a list of 56 businesspersons under seven categories to recognise their contribution to the economy as Commercially Important Person, commonly known as CIP, for the year 2014. The recognition will be made based on their contribution to job creation, development of industries, manufacturing of goods, increase in national income, and above all, their contribution towards economic growth of the country. The government is providing the award in line with CIP (Industry) Policy 2012.
SAVINGS CERTIFICATES SALE JUMPS BY 184% IN NINE MONTHS OF FY 15
The net sale of national savings certificates (NSD) and bonds jumped by nearly 184 per cent in the first nine month of the current fiscal year (FY) 2014-15 as clients continued to invest heavily in the risk free investment tools due to lower bank deposit rates. The net investment in the savings instruments rose to BDT 210 billion in the July-March period of the FY 15 from BDT 74.61 billion in the same period of the previous fiscal, according to the Directorate of National Savings latest data, released on Monday.
BANGLADESH BANS MOBILE TRANSACTION TILL 5PM TUESDAY
The central bank of Bangladesh has imposed a 24-hour ban on mobile transactions to ensure a free and fair city corporation polls, officials said. “The central bank has imposed such ban on mobile transaction in line with the Election Commission’s advice,” AFM Asaduzzaman, general manager of Governor Secretariat in the Bangladesh Bank (BB), told BBN in Dhaka.
BANGLADESH BANK PURCHASES $20M FROM BANK
The central bank of Bangladesh purchased US$20 million more from a commercial bank on Monday to help keep the inter-bank foreign exchange (forex) market stable, officials said. “The central bank is purchasing the greenback from the banks directly at market rate to protect the interests of exporters and migrant workers by keeping the exchange rate of the Bangladesh Taka (BDT) against the US dollar stable,” a senior official of the Bangladesh Bank (BB) told BBN in Dhaka.
NASIR GLASS RAISES TK 100CR THROUGH COMMERCIAL PAPERS
Nasir Glass Industries, a leading float-glass maker, raised Tk 100 crore through commercial papers to help cut high financing cost, which will allow the company to offer more price-competitive products. The fund is raised in two tranches, each consisting of Tk 50 crore, with a validity of six months. Prime Bank issues bank guarantee against the subscription amount in favour of the subscribers. “We want to swap our costlier financing options with a cheaper one,” Rezaul Karim, general manager of Nasir Glass Industries, said earlier. The funds raised at 10 percent interest as opposed to the normal rate of 12-13 percent will mainly be used to meet working capital requirements, he said.