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.
Sale of savings tools falls by 62.72% in August due to higher tax
The net sales of national savings certificates (NSC) fell by 62.72% or Tk2,522.63 crore in August, the second month of the current fiscal year (2019-20), compared to the same month in the last fiscal year, owing to an increase in tax on income from the investment in the instruments.
BD economy still least competitive
Bangladesh has slipped two spots, dropping to the 105th as competitive economy in an index produced by the World Economic Forum (WEF). Last year, Bangladesh ranked the 103rd out of 140 countries, scoring 52.1.
BB sees higher NPLs may hamper growth momentum
Managing higher non-performing loans (NPLs) and tight liquidity condition on the domestic front alongside external challenges are likely to pose downside risk to growth momentum, the central bank has said. The external challenges include sluggish global growth, disrupting supply chain by the escalating trade war, Brexit- related uncertainty and rising geopolitical tension.
Stocks keep bleeding amid worries over economy
Dhaka stocks dropped for the third day on Wednesday as investors were worried about the country’s economy amid its slippage in the Global Competitiveness Index, fall in export earnings and bleak situation in financial sector. DSEX, the prime index of Dhaka Stock Exchange, lost 0.65 per cent, or 32.05 points, to close at 4,862.25 points on Wednesday.
BD to seek GSP-plus facility from EU
Bangladesh will seek Generalised System of Preference (GSP)-plus facility from the European Union (EU) in the upcoming joint commission meeting (JCM), as the country is set to graduate as a developing nation within a few years, officials said on Tuesday. On the other hand, the EU is likely to discuss issues like Bangladesh’s press freedom, extra-judicial killing, and some trade barriers between the two sides, they also said.
Institutional investors fear further fall in stocks
Shares on the Dhaka Stock Exchange fell for the third consecutive day yesterday, pulled down by thin participation of institutional investors amid deepening pessimism among general investors. The DSEX, the benchmark index of the country’s premier bourse, dropped 32.05 points, or 0.65 percent, to stand at 4,862.25. In the last three days, the index gave up 54.43 points.
BTRC plans to set up divisional offices
The Bangladesh Telecommunication Regulatory Commission is planning to establish regional offices in every divisional headquarters to expand regulatory oversight in telecom sector. BTRC officials said a proposal in the connection was placed for approval of the Post and Telecommunication Ministry.
Ministry seeks more cash incentive for export-oriented jute goods
The textiles and jute ministry has urged the finance ministry to increase by five percentage points the cash incentive for the export-oriented jute and jute goods. It requested the finance ministry to raise the cash incentive for jute yarn and twine to 12 per cent from the current seven per cent.