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.
New VAT system to bring in Tk 11,000cr more
The National Board of Revenue expects to collect about Tk 11,000 crore more for imposition of VAT on various goods and services and increasing rates on many others, said its officials. It also aims to register Tk 5,000 crore by ensuring use of electronic sales registers — electronic fiscal device (EFDs), sales data controller (SDC) or point of sales — by 25 types of businesses, including grocery stores, hotels and restaurants, sweetmeat shops, clothing stores, furniture sellers, jewellers, electronics sellers, and large and medium wholesalers.
IMF wants to know about ‘wilful’ defaulters of Bangladesh
The International Monetary Fund (IMF) has expressed interest to know about the definition of wilful loan defaulters, which will be used for identifying them legally. The visiting IMF mission’s interest was shown at a meeting held at the Bangladesh Bank (BB) headquarters in Dhaka on Wednesday with BB Banking Reforms Advisor SK Sur Chowdhury in the chair.
Uranium fuel to cost $1.4b in 50yrs
The nuclear fuel or uranium to be burnt by the twin reactors of Rooppur Nuclear Power Plant will cost around US$ 1.4 billion in their economic life of around 50 years. Officials of the country’s first ever nuclear power plant made the calculation on the basis the government’s decision on Wednesday to procure per unit of fuel at US$ 62 million, equivalent to Tk 523.90 crore (US$1= Tk 84.50).
ADB: Bangladesh fastest-growing economy in Asia-Pacific
Bangladesh registered the fastest growth rate in the Asia-Pacific economies comprised of 45 countries, according to Asian Development Bank (ADB). In the outgoing FY2018-19, the ADB said Bangladesh attained 7.9% growth which was fastest since 1974.
BB resumes sale of US dollar to banks
The central bank has resumed its foreign exchange support through selling the US dollar to the commercial banks after more than two weeks interval aiming to keep the market stable, officials said. As part of the move, the Bangladesh Bank (BB) sold US$15 million at market rate to a state-owned commercial bank (SoCB) directly on Wednesday to meet the growing demand for the greenback.
BTMA urges govt to scrap 5pc tax on yarn, machinery
The Bangladesh Textile Mills Association on Wednesday demanded that the government scrap the 5 per cent advance tax on textile machinery and raw materials and the 5 per cent value-added tax on yarn it proposed in the national budget for the fiscal year of 2019-20. The association made the demand at a press conference held at the Pan Pacific Sonargaon Hotel in Dhaka.
BCIM hits speed bump as Sino-Indian geopolitics stalks
The Bangladesh-China-India-Myanmar (BCIM) economic corridor has been put on the back burner because of the clash between China and India over their geopolitical interest. The multilateral initiative is aimed at facilitating trade in the region.
Stocks rise riding on insurance sector
Dhaka stocks rose for a second consecutive day yesterday riding on the government’s plan to increase penetration of the insurance sector through some positive measures. With eight of the top 10 in the gainers’ list coming from the insurance sector, the DSEX, the premier bourse’s benchmark index, rose 11.16 points or 0.20 percent to close at 5,411.40.