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.
Bangladesh’s private sector credit growth falls slightly in October
Bangladesh’s private sector credit growth decreased slightly in October over that of the previous month, officials said. The growth in credit flow to private sector came down to 15.20 per cent in October 2016 on a year-on-year basis from 15.34 per cent in September last, according to the central bank latest statistics. The private sector credit growth was 16.21 per cent in August 2016.
SoEs major errant taxpayers
Public-sector entities owe the National Board of Revenue (NBR) Tk 152.43 billion in unpaid value-added tax (VAT). Officials said the revenue board has a sum of the value-added tax stuck-up even with the affiliates of finance ministry under which it also runs.
Celebrating 15,000 MW generation capacity: Govt takes captive, rental power plants into account
The government will celebrate its ‘success’ in increasing power generation capacity to 15,000 MW, taking into account power plants with 2,400 MW capacity installed and used in industrial sector and 32 rental power plants with 2,121 MW capacity. The 32 rental and quick rental power plants were installed between 2010 and 2012 to meet the demand for three to five years. Most of the contracts were extended for three to five years as the government failed to introduce imported coal-fired power plants, scheduled for 2016 to begin power generation, officials said.
China-funded digital connectivity project gets green light
The government will bring two lakh small institutions under digital connectivity to boost trade and economic activity in remote areas. The cabinet committee on economic affairs on Wednesday approved the proposal, with China's Exim Bank providing 94 percent of the Tk 8,500 crore project.
Bangladesh’s stocks extend rally for five straight weeks
Bangladesh’s stock market passed another shinning week, extending the fifth week in a row that ended on Thursday, with key index of the premier bourse reaching 14 months’ high. Analysts said the market maintained the upward trend as large-cap stocks continued to get investors attention amid growing confidence. The week witnessed five trading sessions as usual. Of them, three sessions closed higher while two saw marginal correction.
Nepal postpones BBIN road survey again
A scheduled joint road survey between Bangladesh and Nepal under the four-nation road infrastructure development initiative, called BBIN (Bangladesh, Bhutan, India and Nepal), has been postponed. It was scheduled to start from Nepal tomorrow (Monday) to find a suitable route between the two neighbouring countries.
Govt forms Blue Economy Cell
The government has formed Blue Economy Cell under the Energy and Mineral Resources Division (EMRD) for exploration, conservation, and sustainable collection and management of natural and mineral resources in the Bangladeshi territory of the Bay of Bengal. The cell is charged with multi-disciplinary responsibilities, which mainly include collecting saltwater fish resources, exploring hydrocarbon resources or fossil fuel and looking into tourism prospects.
Bangladesh starts disbursement of $200m green fund
The central bank of Bangladesh has started disbarment process of its US$200 million green fund through signing deals with six banks, officials said. As part of the move, the Bangladesh Bank (BB) signed separate agreements with six private banks on December 01 last to facilitate fund for long-term financing under the “Green Transformation Fund for Export-oriented Textile and Textile Products and Leather Manufacturing Industries”.
BBN/SSR/AD