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.
Summit Group to raise $2.5b
Summit Group has teamed up with international lenders and companies to raise $2.5 billion in equity and loans for setting up a LNG terminal and a number of power plants with electricity generation capacity of 2,000 megawatts. The country’s largest private sector power producer has already formed a company, Power International Pvt Ltd, for the purpose. The company is based in Singapore.
Pension for all from 2019
The hyped comprehensive system of pension for all would be launched in the country in 2019 and a road map for the scheme was approved by the finance minister AMA Muhith in the past week. By the set deadline, the finance ministry would complete all formalities, including enactment of a law, a top finance ministry official said.
Muhith wants compulsory tax for all
Finance Minister Abul Maal Abdul Muhith Wednesday toyed with the idea of introducing a compulsory minimum tax for all irrespective of income level. Only those who are dependent on social-safety tools or so and have no income could be exempted from the ambit of the universal minimum tax, he said.
Foreign firm picked as Karnaphuli tunnel project consultant
A foreign joint venture firm will supervise the construction of the much-anticipated construction of multi-lane road tunnel under Karnaphuli River in Chittagong and will also review the design of the project likely to be inaugurated next month. Cabinet committee on public purchase presided over by Finance Minister AMA Muhith yesterday approved Road Transport and Bridges Ministry proposal of appointing Australia and Denmark joint venture firm as a consultant of the project.
Bangladesh’s stocks end higher for sixth day
Bangladesh’s stocks ended higher on Wednesday for the six consecutive sessions as optimistic investors took position on sector specific stocks just ahead of Eid vacation. Analysts said the market maintained the upward trend with activities was strong in the market as pre-Eid sale pressure faded away, while enthusiastic investors remained active on some large-cap stocks.
Foreign investment in stocks trebles
Net foreign investments in the capital market trebled year-on-year in the first eight months of the year as overseas investors were anticipating a positive market scenario. Foreign investors bought shares worth Tk 3,051.14 crore and sold shares worth Tk 2,605.44 crore to take their net investment for the January-August period to Tk 445.7 crore. Net investment by foreigners in the first eight months in 2015 stood at Tk 144.26 crore, according to Dhaka Stock Exchange data.
Banks asked to ensure digital transactions during Eid vacation
The central bank has asked the commercial banks to ensure digital operations including ATM (Automated Teller Machine), POS (Point of Sale) round the clock amid enough security during the Eid vacation. “The central bank has taken the measures to ensure the overall digital financial transactions along with security particularly during the Eid-ul-Azha vacation,” a senior official of the Bangladesh Bank (BB) told BBN in Dhaka.
Bangladesh’s private-sector credit growth falls in July
Bangladesh’s private-sector credit growth felt in July after a continuous increase in last 10 months, said officials. The private-sector credit growth came down to 15.97 per cent in July 2016 on a year-on-year basis from 16.78 per cent in June last, according to the Bangladesh Bank (BB)’s latest statistics. Such credit growth had risen since September 2015 up till June 2016, the BB data showed.