Dhaka, Bangladesh (BBN) - The BBN has prepared the morning business round up compiling reports, published by different newspapers and news portals in Bangladesh.
Cash crunch downs United Airways
Flight operation of the United Airways was suspended last evening for an indefinite period, after the private airline's new board failed to come up with plans to keep it afloat. "Our flight will be suspended indefinitely from this evening onwards," flight operations director of the troubled airline M Elias told a news briefing at its headquarters in Uttara.
Troubled politics takes toll on FY '14 revenue earnings
Government's revenue earnings as percentage of the country's gross domestic product (GDP) fell short of the target in the last fiscal year (FY), according to final estimate done by the Ministry of Finance.The decline in overall revenue earning has been attributed to relatively slowed-down economic activities in the first half of the fiscal (2013-14) due to severe political chaos.
Tanners demand time extension to relocate factories to Savar
Country's tanners have demanded extension of the timeline encompassing 2015 to relocate the tanneries from city's Hazaribag to the newly-built Savar hub, industry-insiders said. The government is yet to consider the plea. Bangladesh Tanners' Association (BTA) feels it may not be possible to go by the set timeframe.
Banks reschedule Tk 18,552cr under relaxed rules
Banks regularised Tk 18,552 crore until June under relaxed loan rescheduling rules that were introduced in December last year to help businesses affected by political unrest. Eight state-owned and specialised banks accounted for almost half of the amount or Tk 9,174 crore, according to central bank statistics. Although the banks took advantage of the relaxed rules, their classified loans rose during the period.
Bangladesh Denim Expo second edition creates confusion
The second edition of Bangladesh Denim Expo is being organized by two organizations separately that has created confusion among apparel markers, buyers, retailers and participants. The Denimsandjeans.com, an India-based news portal and the Denim Expert Limited, a Chittagong-based company, are organizing the expo in the middle of October and November respectively at a same hotel in the capital Dhaka.
Bangladesh’s stocks close higher for 7-day
Bangladesh’s major bourse closed higher for the seven straight sessions on Wednesday amid choppy trading as investors took position on large cap stocks.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up marginally by 12.60 points or 0.25 percent to close at 4,979.72 points, the highest level since its inception on January 28, 2013.
Import duty on transformers likely to be raised
The National Board of Revenue is planning to increase duty on import of electric transformers in a bid to provide protection to local industry, officials said.
On the same ground, the NBR will also reduce the import duty of raw materials used in producing transformers, they said.
BBN/SSR/AD-25Sept14-8:58am (BST)