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.
GDP growth to be 6.9pc this year: IMF
Bangladesh's economy will grow by 6.9 percent this fiscal year despite the subdued global growth, said the International Monetary Fund. The economy would grow 6.9 percent next fiscal year as well, IMF said in its October 2016 World Economic Outlook, which was released in Washington on Tuesday. The IMF projection matches other multilateral lenders' and is close to the government's target for fiscal 2016-17.
BB to seek information from banks on investment in CPs
The central bank has decided to seek information from the commercial banks about their investment in commercial papers (CPs) and relevant other issues, sources said. October 30 is the deadline for the banks to furnish such information. The banks will have to provide such information as per prescribed format which was included in guidelines on CP for banks, issued by the Bangladesh Bank (BB) on September 25 last.
PM discloses mega plan for Payra Port
The PM told the House that the work on infrastructural development on the Payra Port would be completed by 2023 while construction of three jetties of the port would be completed by 2018. Prime Minister Sheikh Hasina has disclosed a mega plan centring Payra Port in Patuakhali. She made the disclosure while replying to a question from AKM Jahangir Hossain (Patuakhali-3) during her weekly question answer session in the Jatiya Sangsad on Wednesday, reports BSS.
Diesel import for India: Long-term contract likely at high premium
Bangladesh is likely to ink a long-term contract with India to import 1m tonnes of diesel per year spending more than double the international competitive rates on transport and insurance. State minister for power, energy and mineral resources Nasrul Hamid and India’s state minister for petroleum and natural gas Dharmendra Pradhan at a meeting in New Delhi on Wednesday agreed in principle that the premium for each tonne of diesel should be approximately $46, an energy division official told New Age.
Bangladesh’s stocks end higher for third day
Bangladesh’s stocks ended modestly higher for the three consecutive days on Wednesday as investors booked marginal profit later part of the trading session. After hitting one year high, the market started with a positive note and advanced around 14 points within first 15 minutes of trading, but could not maintained the momentum as risk-averse investors booked some profit on stocks that saw significant gain in the past few days, closing the market slightly higher.
VAT moles may recheck suspect business tax status
The revenue board has armed the VAT intelligence with authority to recheck suspect business tax records already audited by the VAT-field offices. Officials said the VAT intelligence team could launch such re-audit on the basis of authentic information about anomalies. Value Added Tax (VAT) audit, intelligence and investigation directorate now can audit the transaction records of business units under the VAT field offices that already have been audited by the commissionerates concerned.
Government urged to defuse energy crisis for RMG sector
RMG manufacturers have called upon the government not to hike gas prices and resolve gas and electricity supply problems to help the industry attain $50 billion export target by 2021 They made the call at an inaugural ceremony of the two-day Denimsandjeans.com Bangladesh Expo held in the capital yesterday. The show ends today.
Delta Hospital to go public
Delta Hospital plans to go public by using the book building method to raise Tk 50 crore for its business expansion and bank loan repayment. Of the IPO proceeds, Tk 31.09 crore will be used for machinery procurement, Tk 16.66 crore for bank loan repayment and the rest Tk 2.25 crore for IPO expenses. The hospital will hold a roadshow for institutional investors at Dhaka Regency Hotel and Resort at 7pm today as part of its plan for initial public offering (IPO).
BBN/SSR/AD