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.
Source-tax on bank deposits up 16.18pc in FY 2019
The collection of tax at source from bank depositors posted a gain in fiscal year (FY) 2018-19, showing 16.18-per cent growth over that of the corresponding period in FY ’18. This rise in the source-tax collection is attributable to an increase in the number of bank depositors and the rate of interest.
BB to give banks euro loans from reserves
Bangladesh Bank is set to give loans to local banks’ offshore banking units (OBU) to offset the negative returns that it now gets for its liquid euro assets — a move that can be viewed as making the best out of a bad situation. Interest rates went negative in the eurozone in June 2014 and the European Central Bank is widely expected to lower the negative interest rates even further today.
BTRC to issue VSAT licences for utilisation of country’s own satellite
The Bangladesh Telecommunication Regulatory Commission has drafted guidelines on granting licences to operate VSAT (Very Small Aperture Terminal) for providing internet connectivity by using satellite, a very expensive technology for the use of internet connectivity. Before the installation of the country’s first submarine cable in May, 2006, the country was fully dependent on the VAST-based internet connectivity.
DSEX hits 32-month low on selling binge
The prime index of Bangladesh’s key bourse slumped below the ‘psychological’ threshold of 5,000-mark once again on Wednesday, hitting 32-month low, as investors continued to dump their holdings to escape further loss. DSEX, the prime index of the Dhaka Stock Exchange (DSE), lost 75.78 points or 1.51 per cent to settle at 32 month-low to 4,933. On December 21, 2016, the index was 4,924.
Bangladeshi battery busting boundaries: 25 local companies now exporting to 70 countries
A growing demand for automotive battery, fuelled mostly by widespread use of battery-run three-wheelers in rural and semi-urban areas, has led to booming business of local firms now exporting to around 70 countries. Besides, appearance of hybrid and electric cars in local market, and scooters using battery in conjugation with fuels have further propelled the business the market of which has grown three to four times over the past ten years.
PLFSL shares trading suspension extended 15 days more
The management of the Dhaka Stock Exchange (DSE) on Wednesday extended the suspension period of trading of shares of People’s Leasing and Financial Services Limited (PLFSL) 15 days more effective from September 12. It was the third time the DSE management has extended the suspension period of trading of shares of the company as the company under liquidation process.
Local insurers to cover public sector imports
Finance Minister A H M Mustafa Kamal said from now on, insurance policy premium will not go outside the country, as local insurers will deal with all public sector policies. “Presently, the local insurance companies have the capacity to cover all risks. So, there is no justification to send premium overseas in the form of re-insurance, covered by the foreign insurers,” he said on Wednesday.
BEZA to launch one-stop service centre Sept 29
Bangladesh Economic Zones Authority (BEZA) is set to launch its ‘One Stop Service (OSS) Centre’ formally on September 29 at the Sonargaon hotel in Dhaka for providing all the necessary services to the investors of the economic zones in a single window. Prime Minister’s private industry and investment adviser Salman Fazlur Rahman is expected to attend the inaugural ceremony as the chief guest while BEZA executive chairman Paban Chowdhury will be in the chair.