Dhaka, Bangladesh (BBN) - The BBN has prepared the morning business round up compiling reports, published by different newspapers and news portals in Bangladesh.
Power, gas prices to go up from Sept 1
The government has decided to increase the prices of electricity and natural gas with effect from September 1. The prices of natural gas would be raised again in December if the government finds it necessary, officials said. The government’s decisions were passed to the Bangladesh Energy Regulatory Commission at a meeting on Wednesday chaired by the prime minister’s energy adviser Tawfiq-e-Elahi Chawdhury, they said.
BB to decide on large loan restructurings by mid-Sept
The central bank is set to give its decision on the large loan restructuring proposals by the middle of next month, officials said on Tuesday. "We expect to complete our formalities regarding the loan restructuring proposals shortly. The decision to this effect will be given by the second week of September," an executive director of the Bangladesh Bank (BB) told the FE. The central bank has already approved proposals of two groups - Thermax and Ratanpur - submitted by the banks concerned, after receiving clearance from the large loan scrutiny committee.
Sugar imports become costlier
The National Board of Revenue yesterday imposed a 20 percent regulatory duty on raw and refined sugar imports to safeguard the local mills from the shock of sliding global prices. The retail prices of sugar are likely to go up from the present level of Tk 38-40 a kilogram due to the move, said industry insiders.
US dollar crosses BDT 81 in kerb market
The exchange of US dollar crossed BDT 81.00 on Wednesday in the kerb market as demand for the greenback increased significantly ahead of the Eid-ul-Azha and Durga Puja festivals, traders said. The upcoming holy Hajj has also contributed to push up the exchange rate of the US dollar against the Bangladesh Taka (BDT) in the kerb market.
BB plans to allow ATMs for deposit
Bangladesh Bank is planning to ask the scheduled banks to set up automated teller machines for deposit so that their clients can deposit money in their accounts without going to the banks’ branches. A BB official told New Age on Monday that the clients would not have to go to the banks’ branches to deposit their money when the deposit ATMs would be set up. He said a number of developed and developing countries had already set up such type of ATMs to secure cash transaction of clients of banks.
Banks to be asked to charge 11pc for onion import financing
The central bank of Bangladesh has decided to ask the commercial banks to keep the lending rate on onion import financing at maximum 11 per cent to ensure smooth supply of the items to the local market.“We’ve decided to ask the banks to keep the lending rate on import financing for onion at maximum 11 per cent aiming to ease the price of essentials in the market,” a senior official of the Bangladesh Bank (BB) told the BBN in Dhaka on Wednesday. He also said the central bank is expected to issue a directive in this connection tomorrow (Thursday).
Exports to SAARC see 16% rise in FY15
Snapping a three-year downtrend, Bangladesh’s exports to SAARC countries have registered a sharp rise by 15.75% to $648.68m, riding on the Indian export earnings in the last financial year. According to the Export Promotion Bureau (EPB) data, Bangladesh’s exports to SAARC regions stood at $648.68m in FY2014-15, which was 15.75% higher compared $560.38m in the previous fiscal year.
Bangladesh’s stock edge higher with sluggish turnover
Bangladesh’s stocks edge higher on Wednesday with turnover falling slightly as investors remained followed cautious strategy. DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), went up marginally by 12.72 points or 0.26 per cent to end at 4,805.65. The DS30 index, comprising blue chips, gained 5.05 points or 0.27 per cent to settle at 1,837.97. The DSE Shariah Index (DSES) advanced 5.35 points or 0.45 per cent to finish at 1,183.67.
BBN/SSR/AD