Dhaka, Bangladesh (BBN) – The BBN has prepared the morning business round up compiling reports, published by different newspapers and news portals in Bangladesh.
Bank loan in housing sector on downturn
Financing the country’s housing sector by banks and financial institutions has fallen drastically in recent times, leaving realtors in the lurch on the property market, industry-insiders said. According to the central bank statistics, the total amount of outstanding loans of the banks with the housing sector stood at Tk 369 billion, as of June 2015. The amount was Tk 366 billion a year back.
Bangladesh yet to ratify WTO deal
Bangladesh is yet to approve the trade facilitation agreement or TFA adopted by the World Trade Organisation in 2013 to simplify customs procedures and lower trade cost. The TFA requires a nation to provide customs clearances from a single window and take all related procedures online to fast-track the movement of goods from ports.
Delhi opposes $7 transit fee per tonne of cargo
India recently conveyed its reservations about the rate of transit and transshipment fees Bangladesh is contemplating to charge for its goods passing through it. Officials said that India conveyed its reservations even before Bangladesh could finalize the rates of transit and transshipment fees. Delhi expressed the reservations even as the proposal from the National Board of Revenue is under the Shipping Ministry’s consideration. The NBR proposed to fix the fee at Tk 580, approximately equivalent to $7 per tonne of Indian goods passing through Bangladesh, said officials.
Weekly review: Bangladesh stocks fall for second week
Bangladesh’s stocks extended losses for the second consecutive weeks that ended on Thursday as most of the investors followed ‘wait-and-see’ approach amid lack of clear market direction. Market insiders said, the investors seem to be worried over possible impact of higher burden on the industrial segment due to hike in gas and electricity tariff while speedy disposal of stock-scam cases created mixed reaction among the investors.
Govt to rewrite public procurement rules
The government is set to change the rules of the Public Procurement Act to prevent a contractor from getting too many works a year so that the projects can be completed on schedule. The prime minister instructed not to give more than two projects or lots to a single firm at the same time; if the firm can complete its work in time, it can be given more work later.
NBR making risk-based list of importers, exporters
The National Board of Revenue (NBR) has instructed its field offices to prepare a list of importers and exporters to ensure risk management in revenue collection. As part of the budget implementation plan for the fiscal year 2015-16, field offices were asked to prepare a list of companies with high risk and medium risks, NBR document shows.
Second Ticfa meeting in Washington in Nov
Trade officials of Bangladesh and the United States would hold a bilateral meeting in Washington DC in late November to boost trade and investment under a Trade and Investment Cooperation Framework Agreement the countries inked nearly two years back. Duty-free and quota-free access of Bangladeshi products to the US market and restoration of generalised system of preferences, revoked in July 2013 on the grounds of poor labour rights and substandard factory, are the major priorities from Bangladesh side at the meeting, said commerce secretary Hedayetullah Al Mamoon.
Ctg port to see three-fold rise in container traffic in 15 yrs
The container traffic at the country’s principal seaport in Chittagong is expected to increase nearly threefold to 5.1 million TEUs, inclusive of transit trade, over the next 15 years. Such a projection is made in a master plan prepared by a foreign consulting firm for taking up comprehensive measures to cope with the growing volume of trade handling.