Dhaka, Bangladesh (BBN) - The BBN has prepared the morning business round up compiling reports, published by different newspapers and news portals in Bangladesh.
Take preparations for negotiations on new, emerging trade issues
Trade experts on Saturday suggested that the least developed countries including Bangladesh should immediately undertake necessary preparation to reap benefits from negotiations on new and emerging trade issues and to bring momentum in the current trade negotiations of the World Trade Organisation. LDCs will face difficulties and fail to reap the potential benefits from those issues including investment, connectivity, regional trade and technology if they do not prepared them through proper homework, they said.
Two deepwater blocks may go to US-Norway JV
The government is set to award two deepwater blocks, instead of chosen three, to the joint venture of US-based ConocoPhillips and Norwegian Statoil for oil-and-gas exploration in the Bay of Bengal. Officials said the Energy and Mineral Resources Division (EMRD) under the ministry of power, energy and mineral resources (MPEMR) has decided in principle to offer two deepwater blocks from among the proposed three -- DS-12, DS-16 and DS-21.
Bangladesh Taka depreciates further against US$
The Bangladesh Taka (BDT) depreciated further against the US Dollar (US$) in the last week due to higher demand for the greenback in the inter-bank foreign exchange market, treasury official said. The US dollar was quoted at around BDT 77.57-BDT 77.60 in the forex market in the last week against BDT 77.51 of the previous week. “We expect such trend may continue in the next week,” a senior treasury official of a leading private commercial bank (PCB) told BBN in Dhaka.
Some insurance cos under NBR scanner
The National Board of Revenue ((NBR) has decided to put the country's insurance companies under its scanner amid the detection of tax evasion cases by some of them. The NBR, the central authority of the country's tax administration, has recently formed a three-member committee to find out the tax-evasion incidents by the insurance companies, according to sources.
Bangladesh’s stocks end lower amid weak market sentiment
Bangladesh’s stocks extended their losing streak for the third week straight with key index of the major bourse dipping below 4,900-mark as investors went for selling frenzy amid weak market sentiment. The week featured all five trading sessions. Of them, four sessions saw negative trend while one session managed to close positive. Week-on-week, DSEX, the prime index of the Dhaka Stock Exchange (DSE) came down below the 4,900-mark and closed the week at 4,899.61 points, shedding 84.85 points or 1.70 percent.
IFC to invest $67m in Bank Alfalah
International Finance Corporation (IFC) has completed financial due diligence of Bank Alfalah Limited to acquire its share worth of $67.1 million. It has signed an agreement with Alfalah Limited to acquire 20 per cent strategic in the Bank to increase access to finance in Pakistan. The IFC will initially subscribe to 15 per cent of the Bank’s overall stakes against the share price value of Rs 28, according to a statement.
BBN/SSR/AD-23Nov14-8:55 am (BST)