Dhaka, Bangladesh (BBN) – The BBN has prepared the morning business round up compiling reports, published by different newspapers and news portals in Bangladesh.
BoI main roadblock to foreign investment
The Board of Investment’s unhelpful attitude is the main roadblock to increasing foreign direct investment in Bangladesh and not the political climate, experts said yesterday. The BoI was set up to provide one-stop service to prospective foreign investors so that they do not need to go from office to office to get the necessary permits to start operations in Bangladesh, said Mahbubur Rahman, president of the International Chamber of Commerce, Bangladesh.
Urea import at record-high
The import of urea fertiliser, one of the key agricultural inputs, reached a record-high of 1.8 million tonnes in the past fiscal year (FY), 2014-15, on the back of local production debacle. Official sources said currently fertiliser production in the country’s five out of six urea factories remains halted due to suspension of gas supply and overhauling.
Bangladesh to introduce digital financial inclusion programmes
The central bank of Bangladesh has planned to expedite the ongoing financial inclusion initiatives across the country using digital technologies. Bangladesh Bank (BB), the country’s central bank, Governor Dr. Atiur Rahman disclosed this while addressing at a SIBOS (Swift International Banking Operations) roundtable on Financial Inclusion: The Journey of Bangladesh held at Hotel Marina Bay Sands in Singapore on Wednesday, according to a press statement.
Development works of Hi-Tech Park set to start today
The construction and development works of much-awaited Hi-Tech Park will begin today to create knowledge-based skilled manpower and employment. Bangladesh TechnoSity Limited, one of the developers of the park, is tasked with developing Block 3 of the Hi-Tech Park.
Bangladesh’s stocks plunge with low turnover
Bangladesh’s stocks plunged with turnover falling on Wednesday as the investors went on panic sell-offs. The market opened with a downward trend which sustained throughout the session. Key index of Dhaka Stock Exchange (DSE) sheds at 4,716.08 points and Chittagong Stock Exchange (CSE) slumps 119.25 points.
Sweater exports drop on weaker euro, shorter winter in Europe
A shorter winter in Europe coupled with the devaluation of the euro led sweater exports from Bangladesh to drop 3.54 percent last fiscal year, although exports of other apparel items rose. Bangladesh exported sweaters worth $2.82 billion in fiscal 2014-15 compared to $2.93 billion in the previous year, according to Export Promotion Bureau. Sweater exports have been fluctuating for the last few years for shorter winters in the West, especially Europe, exporters said.
Banks facing cash dollar shortage
Bangladesh Bank has requested National Board of Revenue to withdraw tax on import of US dollar notes by local banks from their foreign corresponding banks as they (local banks) are now facing cash dollar crisis. A BB official told New Age on Wednesday that the central bank had recently issued a letter to the NBR saying that banks were now facing cash dollar crisis as the hajj pilgrims recently spent a significant amount of cash dollars outside the country.
India, Bangladesh discuss cooperating in atomic energy
India and Bangladesh held talks to enhance bilateral cooperation in science and technology, including atomic energy, oceanography and earth sciences sector on Tuesday. Detailed discussions were held when the visiting Bangladesh delegation led by its Minister for Science and Technology Yeafesh Osman met his Indian counterpart Harsh Vardhan, reports The Economic Times.