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.
Govt sets export target at $54b
The government yesterday set the export target for the current fiscal year at $54 billion, up 15.20 percent than that a year ago. Of the amount, merchandise export target has been fixed at $45.50 billion, which is 12.25 percent higher than the achievement of last fiscal year.
Govt’s net borrowing rises 7.0pc in FY ’19
The government’s net borrowing through savings tools was 7.0 per cent more in financial year 2018-19 compared to that of the previous fiscal year (FY). According to data from the state-run Department of National Savings (DNS), the net sales of savings tools in the July-June period amounted to Tk 499.39 billion, up from Tk 465.30 billion in the same period of FY 2017-18.
BIDA wants to integrate OSS system with NBR platform
The Bangladesh Investment Development Authority has proposed signing a memorandum of understanding with the National Board of Revenue to integrate its One Stop Service system with the NBR’s VAT Online and Asycuda World systems. Under the proposed MoU, the services related to issuance of business identification number (BIN) and facilitating release of duty benefit on capital machinery import to both local and foreign investors would be provided through the One Stop Service system of the BIDA.
Banks asked to keep open branches near cattle markets
The central bank of Bangladesh has asked the banks to keep their branches near cattle markets in the capital Dhaka open till August 11 ahead of the Eid-ul-Azha. All the scheduled banks are advised to keep their branches near the cattle markets open on August 9, 10, and 11, according to a notification, issued by the Bangladesh Bank (BB), the country’s central bank, on Wednesday
Bangladesh’s stocks end flat ahead of Eid
Bangladesh’s stocks ended flat on Wednesday amid volatile trading as the investors were active both sides of trading fence ahead of Eid-ul-Azha. DSEX, the prime index of the Dhaka Stock Exchange (DSE), settled at 5,187, inching down by 0.09 point over the previous day.
Govt raises gas price for IOCs in new PSC
The international oil companies (IOCs) will get higher price for natural gas in the next bidding round, as the government has adopted the model production sharing contract (PSC) 2019 to lure them. The state-run Petrobangla has raised natural gas price for both shallow- and deep-water offshore blocks, while the price for onshore blocks has remained unchanged.
BTRC moves to stop renewing Grameenphone, Robi’s existing packages
The Bangladesh Telecommunication Regulatory Commission has initiated a move to stop renewing the existing voice and data packages of Grameenphone and Robi, supplementing its recent measure to halt approval for any new package. The commission took the measures as part of its move to recover Tk 13,446.95 crore in audit claim from the two operators.
Higher demand for cash pushes up call money rates
The call money market is experiencing a moderate rise in demand for cash ahead of Eid-ul-Azha, pushing up the interest rates in the last couple of days. The Debt Management Department of Bangladesh Bank recorded a 4.56% weighted average interest rate yesterday. Highest rate of interest on lending stood at 5% while the lowest at 4.25%.