Dhaka, Bangladesh (BBN) – The BBN has prepared the morning business round up compiling reports, published by different newspapers and news portals in Bangladesh.
Fitch further forecasts stable BD economy
Global credit-rating agency Fitch has projected Bangladesh’s economic outlook as stable for the current year also, but with a footnote that political and banking-sector risks remained on the flip side. Bangladesh is rated ‘BB-‘ that stands for a stable outlook, according to the Fitch Ratings latest report, released Thursday. The rating agency has affirmed the country’s long-term foreign and local currency issuer default ratings (IDRs) at ‘BB-‘. The long-term IDRs are stable. The country ceiling is affirmed at ‘BB-‘ and the short-term foreign-currency IDR at ‘B’.
Airtel revives plan to sell Bangladesh unit: report
Bharti Airtel is now reviving its plan to sell its Bangladesh and Sri Lanka operations and has appointed two bankers to conduct the sale, Indian television channel CNBC-TV18 reported. The largest telecom operator in India plans to separate the tower business from the company and sell it first and the whole operation later, as part of a strategy to shun unproductive operations, according to the CNBC report.
Capital machinery import soars 51pc in Jul despite dull business
The country’s import payment for the capital machinery registered a 51.19-per cent growth in July this year compared with that in the same month of last year despite a negative growth in the overall import payment in the period. The overall import payment posted a 0.59-per cent negative growth in July compared with that of 11.60 per cent negative growth in the same month of last year due to a decrease in import of industrial raw materials and major essential commodities.
Weekly review: Bangladesh’s stocks edge lower
Bangladesh’s stocks slipped into the red last week that ended on Thursday as investors continued their cautious trading behaviour. Global stocks turmoil made Bangladeshi investors cautions though there is no direct relation. However, last two days of the week global stocks recovered some losses. The week witnessed five trading sessions as usual. Of them, first three sessions witnessed downturn following global markets plunged while last two saw marginal gain.
Gas tariff hike to generate Tk 34.05b annually
The government mulls over investing a significant sum of money to be mobilised through increased natural gas tariffs in development of infrastructures for liquefied natural gas (LNG), liquefied petroleum gas (LPG) and hydrocarbon exploration, officials said. Ensuring future energy security is the prime goal, they said supporting the raise, which received protests from different stakeholders and opposition as well as a section of ruling party politicians.
Tigerair’s special offer for travellers from Dhaka
Budget carrier Tigerair is offering special fares on the Dhaka-Singapore route exclusively for Bangladeshi passengers, to mark Singapore’s golden jubilee celebrated on August 9. The special fare, $269 plus, will be applicable only to round-trip tickets from Dhaka. Passengers can book the tickets until September 3 for travel between September 13 and November 2.
Bangladesh Bank buys $10m more from bank
The central bank of Bangladesh purchased US$10 million more from a leading commercial bank on Thursday to help keep the inter-bank foreign exchange (forex) market stable, officials said. “We’re purchasing the US currency from the bank directly at market rate to protect the interests of exporters and migrant workers by keeping the exchange rate of the local currency against the US dollar stable,” a senior official of the Bangladesh Bank (BB) told BBN in Dhaka.
TIN holders to face penalty unless income tax returns submitted
The National Board of Revenue has decided to get tough with the taxpayers if they fail to file income tax return for the current fiscal by September 30. The board will also take action against those who will not pay the actual amount of tax properly as per their income tax returns. As part of its budget implementation plan for the fiscal year 2015-16, NBR has recently asked all its field level income tax offices to impose penalty on these two types of taxpayers as per provisions of income tax ordinance 1984 by December this year.