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.
Brexit to hurt Bangladesh export
Britain’s exit from the European Union (EU) will hurt Bangladesh exports especially the RMG sector to its markets as it will cast shadow on the exchange rates, fear the economist and exporters. In a referendum held on June 23, the UK people decided to leave EU as 52% people voted for exit while 48 cast vote to stay with the union.
Good investment climate will curb capital flight: analysts
An investment-friendly environment with good governance in place could help reduce illicit financial flows from Bangladesh, experts said yesterday. They made the observations at an expert consultation meeting on illicit financial flows, organised by the Centre for Policy Dialogue at the Brac Centre Inn.
Loopholes expose national savings schemes to abuse
The National Savings Directorate (NSD) has recently sent a proposal to the Internal Resources Division (IRD) of the Ministry of Finance to lift the limit on investment in pensioners’ savings scheme meant for government employees. Substantial increase in retirement benefits of the government servants following the introduction of the new pay-scale has been shown as the reason for relaxation of the rules concerned, sources said.
Govt plans renegotiation of trade in wake of Brexit: Tofail
The government would soon plan trade renegotiations with the United Kingdom to tackle the challenges that the country would face following the Brexit referendum, commerce minister Tofail Ahmed said on Saturday. The UK is leaving the European Union as Britons on Friday voted to exit the EU, sending a global warning of severe impact on the countries’ trade and economy particularly those are closely associated with the Euro block.
Bangladesh’s stocks extend losses for third week
Bangladesh’s stocks extended their losing spell for the third week in a row that ended on Thursday, as most of the investors continued on selling mood ahead of Eid Festival and June closing. The week witnessed five trading sessions as usual. Of them, first three sessions closed lower, while last two saw marginal gain.
BSEC proposes preconditions for stakeholders
The securities regulator has set some preconditions for the stakeholders concerned to launch the financial derivatives through the country’s stock exchanges, officials said. The preconditions have been set in a directive issued by the Bangladesh Securities and Exchange Commission (BSEC) on June 20 last.
Telcos protest hefty taxes
Mobile phone operators yesterday protested the government’s plan to impose hefty taxes on the use of mobile phone in the budget for next fiscal year. They demanded withdrawal of supplementary duties and surcharge on all services and VAT on internet use. The Association of Mobile Telecom Operators of Bangladesh (AMTOB) placed the demands at a press meet at Hotel La Vinci in Dhaka. The proposed budget is expected to be passed in parliament this week.
Mustafa Jabbar set to lead BASIS
Mustafa Jabbar, owner of Ananda Computers, is all set to be the next president of the Bangladesh Association of Software and Information Services, after his panel clinched seven out of the nine director posts at the triennial election. The panel of Sonia Bashir Kabir, managing director of Microsoft Bangladesh, won the remaining two posts of BASIS at the election, which was held yesterday.