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.
Chinese companies lobby for 2nd nuclear power plant in Bangladesh
Chinese companies are showing interest in constructing the planned second nuclear power plant in Bangladesh’s south although the site is yet to be selected. Two Chinese companies — Dongfang Electric Corporation and China State Construction Engineering Corporation — have already lobbied the Bangladesh Atomic Energy Commission to win the deal, officials said.
FRC finds anomalies in companies’ financials
The Financial Reporting Council (FRC) has asked all listed companies and respective auditors to prepare ‘accurate’ and ‘truthful’ financial statements. The instruction followed some inconsistencies detected in the financial statements of at least 20 companies. The statements, allegedly, have been prepared ‘violating’ international standards on auditing.
Commodity prices up, ahead of Ramadan, as usual
Prices of various commodities including lentil, chickpeas, sugar and fine grain rice have increased ahead of the Ramadan, to begin early next month. Consumers complained about the increase in the price of essentials, but saw the trend as usual, like every year, in the absence of any effective monitoring by government agencies.
Airbus sets sights on Bangladesh market
The aviation market of Bangladesh is growing rapidly and expected to expand at a faster rate in near future, generating interest from European aerospace giant Airbus. “With the GDP growing at the rate that it is in Bangladesh — at 5 or 6 percent — this probably means about 10 to 12 percent in terms of traffic growth. Bangladesh is growing very quickly,” said Sheel Shukla, senior sales director of Airbus Customer Affairs.
Bangladesh’s stocks keep losing for 12 straight weeks
Bangladesh’s extended their losing streak for the 12 straight weeks that ended on Thursday as investors continued their selling binge to avoid further loss. Market experts have indentified some reasons including presence of a strong placement market, dearth of quality stocks, lack of investors’ confidence, shortage of liquidity for the erosion in stock prices.
Growth at cost of environment
Bangladesh’s industrial sectors, especially garment, are growing at the cost of environment, said ActionAid Bangladesh, a non-governmental organisation, yesterday. “Although the garment industry in Bangladesh contributes significantly to the economy, it raises a number of environmental concerns,” said Farah Kabir, country director of ActionAid.
Tax refund up to Tk 25,000 within 7 days of applying
Income taxpayers will now get cash refund of up to Tk 25,000 within seven days of making application seeking refund of excess income tax paid by them, according to a decision of National Board of Revenue. The board on April 15 asked its field offices to provide undisputed income tax refund within seven-day deadline.
Summit LNG terminal arrives, awaits commissioning
Summit Group’s LNG terminal reached the country Saturday and is now waiting for commissioning to initiate supply of re-gasified LNG to consumers. This is the country’s second liquefied natural gas import terminal and both are floating, storage, re-gasification units (FSRUs).