Dhaka, Bangladesh (BBN)– The BBN has prepared the morning business round up compiling reports, published by different newspapers and news portals in Bangladesh.
BTC remains ineffective after 23yrs of inception
Bangladesh Tariff Commission remains ineffective and weak in protecting the interest of the domestic industries in international trade even after 23 years of its inception due mainly to lack of institutional capacity and narrow jurisdiction, BTC officials said. They said the commission could not take even a single step under antidumping, countervailing and safeguard measures to protect the local industries from undue practices in the international trade because of non-cooperation from businesses and absence of legal authority in its existing law.
Turmoil batters car importers
More than 6,000 cars are stranded at ports amid importers’ reluctance to take delivery of the vehicles fearing vandalism on way to their final destinations. “Most of us are afraid of attacks on the highway for the political unrest. That’s why, taking delivery of cars from ports have become slow,” said Habib Ullah Dawn, president of Bangladesh Reconditioned Vehicles Importers and Dealers Association (Barvida). Some of the imported vehicles came under attack at the beginning of the political turmoil, after which importers became cagey about taking the cars out of the ports, Dawn said.
Bangladesh to set up 17 economic zones
The government has approved proposals for setting up 17 economic zones in the country, including three private zones, one in Narsingdi and two in Munshiganj. The approval was given in the second meeting of the Board of Governors of Bangladesh Economic Zones Authorities (BEZA) at Prime Minister’s Office in the capital Dhaka on Wednesday with Chairman of the Board Prime Minister Sheikh Hasina in the chair. The approved 17 economic zones will be established at Mirersari, Gohira, Moulvibazar, Mongla, Sirajganj, Sreepur, Sabrang, Keraniganj, Narayanganj, Bhola, Ashuganj, Jamalpur, Panchagarh, Narsingdi, Manikganj, Kushtia and Nilphamari.
Savings tools yield cut move hits snags
The government is in dilemmas over reduction in the rates of yield of national saving certificates (NSCs) as a section of policymakers are opposing the move, officials said. Economists, however, are in favour of striking a balance between bank-deposit and NSC yields. They are of the opinion that the existing large difference between the two is distorting the interest regime in the financial sector on the one hand and handing the public exchequer a huge burden of interest payments on the other.
Tea prices dip amid political unrest
Tea prices in Bangladesh declined for a third straight week at a weekly auction on Tuesday due to tepid local demand amid political unrest that disrupted supplies. Bangladesh has been racked by political violence since anti-government protests turned violent last month over a disputed election a year ago. More than 80 people have died and hundreds have been injured, most of them in firebomb attacks on vehicles, amid a violent nationwide transport blockade by the main opposition party aimed at toppling the government.
ConocoPhillips, Statoil awarded deep-sea gas exploration deal in Bangladesh
The Joint Venture (JV) of US oil company ConocoPhillips and Norway’s Statoil have been awarded the contract for oil and gas exploration in three deep-sea blocks in the Bay of Bengal. Cabinet Committee on Economic Affairs (CCEA) on Wednesday gave nod to the proposal of the ConocoPhillips and Norway’s Statoil Joint Venture (JV). Besides, the Cabinet Committee on Government Purchase (CCGP) approved the proposals for the appointment of consultants to construct two coal-based power plants in Cox’s Bazar,Mustafizur Rahman,Joint-Secretary of Cabinet Division, told reporters after the meetings.
Bangladesh’s stocks end flat amid cautious trading
Bangladesh’s stocks ended flat on Wednesday as most of the investors followed cautious trading amid ongoing political turmoil in the country. DSEX, the prime index of the Dhaka Stock Exchange (DSE) ended at 4,802.27 points, gaining 1.86 points or 0.03 percent. However, the two other indices closed in red.
The DS30 index, comprising blue chips lost 0.54 points or 0.03 percent to close at 1,786.17 points. The DSE Shariah Index (DSES) shed 2.81 points or 0.24 percent to close at 1,133.70 points.
BBN/SSR/AD-19Feb15-10:52 am (BST)
