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.
Election fuels bank borrowing
The government's borrowing from the banking system shot up in the last two months to meet its expenditure ahead of the national election scheduled next week. The sudden rise in the bank borrowing has thrown some banks into further cash crisis, a trend they have been facing throughout 2018, according to bankers.
IDRA step to ease small policyholders’ sufferings
The local insurance regulator said on Saturday from now on it would act fast to settle claims pertaining to policies involving small amounts of money. The Insurance Development and Regulatory Authority (IDRA) has taken the step to settle the disputed claims of small policyholders to ease their sufferings.
NBR may ask Google, FB, other cos to set up offices in B’desh
National Board of Revenue may ask global digital platforms like YouTube, Google and Facebook having earnings from Bangladesh to set up their offices in the country. NBR is planning to take such a decision to ensure collection of taxes on income of the global technology giants derived from advertisements given by Bangladeshi individuals and companies.
Elections not contributing enough to the paper business
Despite expecting an order of an additional 25,000 tons of paper because of the upcoming 11th parliamentary election, paper traders have so far been able to secure orders of 7,000 tons only. Paper traders said, since opposition parties were not being allowed to campaign properly, orders for posters were low.
Three shoemakers shell out Tk 177cr for new plants
The footwear sector is set to get a fresh investment of Tk 177 crore through three companies seeking to grab a share of the country's growing domestic market. One of the companies is Walkar, a sister concern of Pran-RFL Group, which would be putting in Tk 150 crore to expand its existing manufacturing facilities.
‘Escalation protocol’ to be in place for errant apparel units
The errant garment factories, inspected under National Initiative, will finally face strict measures like suspension of production, upon their failure to complete the post-inspection remediation work in certain phases, officials said. The Ministry of Labour and Employment (MoLE) is set to approve the draft of an 'escalation protocol' soon for the ready-made garment (RMG) factories, with the provision of closure of units for performing poorly in remediation.
NBR reforms survey zone to boost tax collection
The National Board of Revenue has decided to conduct structural reform in its central tax survey zone to strengthen its capacity and effectiveness in conducting survey and expanding tax net.The decision came after 16 years of ineffectiveness of the zone to revive it dedicated for survey activities, officials said. They said that NBR had already formed a nine-member committee headed by its member (audit, intelligence and investigation) Arifa Shahana to examine the feasibility of expansion and reforms of the survey zone.
Silk Board adopts measures to strengthen silk sector
Field level development activities of silk are progressing successfully with the aim of bringing back its lost glory through revitalizing the sector across the country. Bangladesh Silk Development Board (BSDB) has distributed 395,000 mulberry plants, 350,100 disinfected silk cocoon and 121,600 eggs among the farmers in last 10 fiscal years, reports BSS.
BBN/SSR/AD