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.

Businesses want predictable tax policy
Frequent changes in tax structure and other policies hamper business and future investment plans, analysts said yesterday. “If the tax structure is like this, let it be like this for the next few years so that we can plan ahead,” said Rupali Chowdhury, president of the Foreign Investors’ Chambers of Commerce and Industry.

Banks: Untapped info storehouse for taxmen
The information available with the country’s commercial banks about their depositors has remained unexplored by the National Board of Revenue (NBR) which is tasked to increase the number of productive tax returns without any pause, circles concerned have said.

Sponsor-directors’ shareholding: BSEC order remains on paper since Nov 2011
A much hyped directive of the Bangladesh Securities and Exchange Commission regarding mandatory 30 per cent shareholding by listed companies’ sponsor-directors remained on paper as 31 companies’ sponsor-directors are still holding less than the stipulated amount of shares.

BB heist talks likely at APG meeting
Bangladesh is going to have a chance to pressure the Philippines government on recovery of stolen Bangladesh Bank money as the 19th annual general meeting of Asia Pacific Group on money laundering will be held next month in Dhaka. Representatives from the Philippines and the United States will attend the week-long meeting expected to be inaugurated by Prime Minister Sheikh Hasina on July 18.

Bangladesh’s stocks extend losses for 2nd week
Bangladesh’s stocks extended their losing spell for the two consecutive weeks that ended on Thursday as risk-averse investors continued on selling mood amid reduced trading time during Ramadan. The week witnessed five trading sessions as usual. Of them, three sessions closed lower, while two saw marginal gain.

BB chief economist slams high interest on savings tools
The chief economist of the central bank yesterday came down heavily on the government for distorting the interest rate market by offering too high returns for savings instruments. If the trend continues, money will flow out of bank deposits and end up in savings schemes, meaning the government’s interest liability will go up.

Bangladesh to focus on payment issues in Rooppur project review meeting
Bangladesh is going to raise the issue of non-payment by a Russian sub-contractor which worked on the Rooppur nuclear power plant project in a review meeting of the project’s top-level management this week. “The Russian team will arrive in Bangladesh on Monday and will visit the project site on Tuesday before attending the meeting at a city hotel on Wednesday,” Rooppur power plant project Director Mohammad Shawkat Akbar told the Dhaka Tribune on Saturday.

Bangladesh’s banks’ excess liquidity decreases slightly
The overall excess liquidity with Bangladesh’s commercial banks decreased slightly in May last, following the recent higher credit growth particularly in the private sector. The excess liquidity came down to BDT 1.17 trillion in the first week of May from BDT 1.19 trillion two months ago, according to the central bank’s latest statistics.

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