Dhaka, Bangladesh (BBN) – The BBN has prepared the morning business round up compiling reports, published by different newspapers and news portals in Bangladesh.
Atiur becomes ‘Central Bank Governor of the Year’ in Asia
Bangladesh Bank (BB) Governor Dr Atiur Rahman has been awarded as the ‘Central Bank Governor of the Year 2015 for Asia’ for his contribution to the successful maintenance of macroeconomic stability in the country. Emerging Markets, a London-based prestigious financial information provider, announced the award on Saturday in recognition of his role in promoting socially responsible financing, financing inclusiveness and green funding. This award went to Raghuram Rajan, Governor Reserve Bank of India (RBI) for 2014 and Chinese Central Bank Governor Zhou Xiaochuan the year before.
Women workforce growing fast
World Bank President Jim Yong Kim has hailed Bangladesh’s efforts to integrate more women in the workforce and singled it out as an example to emphasise the need for investing more in women to spur growth. “Countries such as Bangladesh are encouraging female participation in the workforce. If they [Bangladesh] stay on track, their female workforce will grow from 34 to 82 percent over the next decade, adding 1.8 percentage points to their GDP,” he said at the World Bank Group/IMF Annual Meetings at Lima, Peru, on Friday.
BD to sit with USA for talks under Ticfa in Nov
Bangladesh is expected to sit with the United States in Washington in November for bilateral talks under the Trade and Investment Cooperation Framework Agreement (Ticfa) umbrella amid disappointments over the denial of GSP facility for export. Sources said the US has informed Bangladesh through the Ministry of Foreign Affairs to keep last week of November free to have the bilateral meet, second such since the much-talked-about Ticfa deal was signed in November 2013.
68pc of registered companies pay no tax
Some 90,720 or 68 per cent of the companies registered in the country pay no income tax and have no electronic taxpayers’ identification numbers, according to the National Board of Revenue. The revenue board came to know about the fact while scrutinising the tax payment status of the companies registered with the Office of the Registrar of Joint Stock Companies and Firms. So far, the revenue board has collected the data of 1,35,542 companies from the RJSC.
Central bank governor says Bangladesh IFC bond imminent
The IFC’s plan to issue a offshore Bangladeshi taka-denominated bond will be invested in private infrastructure projects and PPPs in what would be the first transaction to put Bangladesh’s currency into global money markets. Atiur Rahman, Bangladesh’s central bank governor, told Emerging Markets that upon his arrival in Lima on October 5 he received the news that the government had approved the IFC’s plans, which have been in the works since the IMF spring meetings in April.
Cement makers eye a turnaround
Cement makers, who have been going through a tough time for the last two years, now expect the demand to return next year, riding on some big infrastructure projects. The market is likely to grow 20-25 percent over the next five years, according to industry insiders. The sector grew 11 percent in 2013-14, down from its peak of 31 percent in 2009-10. The growth rate dropped to a single digit in 2014-15.
Exports to Chile jump in first quarter
Bangladesh exports to Latin American nation Chile rose by over 41% to earn $11.4m in the July-September period. Bangladeshi products are enjoying duty and quota-free access to the Chilean market since January this year as a step towards boosting trade ties between the two nations. According to the Export Promotion Bureau data, Bangladesh fetched $11.4m from the market in the first three months of the quarter, increasing by 41.38% from $8.06m in the same period last year.
Taskforces to be formed to boost Saarc connectivity
Some five taskforces will be formed to increase connectivity and trade in the Saarc region. The decision was taken at the inaugural South Asia Economic Conclave held in the Indian capital last month. The Confederation of Indian Industries or CII, a not-for-profit, nongovernmental organisation, arranged the three-day event with support from its government and the World Bank.