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.
VAT on internet data may go, says Muhith
Finance Minister A M A Muhith hinted on Saturday that he will consider withdrawing Value Added Tax (VAT) on internet data usage in the budget for the next fiscal year. “The next budget is my last budget. I will think about it, if I can do anything,” he said while replying to a request by BASIS President Mustafa Jabbar for withdrawing VAT and surcharge on internet data usage.
RMG export to India sees stellar growth, China falls in Jul-Nov
Country’s readymade garment export to India in the July-November period of the current financial year grew by 56.35 per cent riding on an impressive performance by knitwear products, while RMG export to China fell by 10.93 per cent during the period. RMG export to India in the five months of FY 2017-18 increased to $87.43 million from $55.92 million in the same period of FY 2016-17, according to the Export Promotion Bureau data.
Insider trading led to abnormal price hike of BBS Cables shares
BBS Cables, which was listed on July 31, saw unusual jump in its share price because of insider trading, said one of its top executives. “Some of my relatives bought 2.5 lakh shares to book profits,” said Abu Noman Howlader, managing director of BBS Group, while addressing a seminar yesterday on the role of capital market in industrialisation.
Bangladesh’s stocks down for second straight week
Bangladesh’s stocks extended the losing streak for the two consecutive weeks that ended on Thursday as cautious investors continued to book profit banking sector issues. Analysts said profit booking tendency, especially on heavyweight banking, financial institutions and engineering issues pulled stocks down as theses sectors’ issues saw bullish trend in recent weeks.
Ctg port launches new mobile scanner
Chittagong port yesterday launched a new mobile scanner, which would help the authority check imported goods faster and provide users with quick taxation services. This is the second mobile scanner launched at the port. The first one that came into operation in 2010 went out of order on October 30 this year.
Tea auction centre opened in Sreemangal
The second tea auction centre of Bangladesh has started its journey in Sreemangal town, Moulvibazar. Finance Minister AMA Muhith inaugurated the much awaited trading centre at Khan Tower area of the town on Friday morning. With a total of 133 tea estates, Sylhet contributes to 90% of the tea production in Bangladesh.
BD boarding interoperable payment platform for building less-cash society
Bangladesh moves to board an interoperable payment platform to build up a less-cash society gradually through reducing or discouraging cash transaction, suiting a fast-emerging global knowledge economy. As part of the move, the central bank has already established the interoperability of internet banking based on its national payment switch among five banks, according to officials.
BB scanning 26 banks’ replies
Bangladesh Bank (BB) is now scrutinising the responses by 26 commercial banks on their alleged attempts to mislead the central bank with ‘untrue information’ about foreign exchange rates offered particularly to the importers. In response to show-cause notices served by the central bank, the banks recently clarified their positions on the allegations and sought exemption from the allegation, according to officials. They also gave formal commitments to stay alert in this regard in future.