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.
Loan write-off policy to be eased again
The central bank is set to relax the loan write-off policy once again in a space of nine months, bowing down to pressures from an influential quarter. This time, banks are likely to be allowed to write off defaulted loans that have been hovering in the bad category for one year from their balance sheet, down from three years previously, said officials of the Bangladesh Bank.
Tipu Munshi blames owners for RMG sector’s setbacks
Commerce Minister Tipu Munshi on Wednesday said the country’s readymade garments (RMG) sector was facing setbacks because of activities of some local apparel exporters. The government was trying to find a way out in consultation with industry leaders and businesspeople, he told reporters after holding a meeting with BGMEA leaders on the current gloomy RMG export situation at commerce ministry.
Bangladesh to form banking commission soon
The government has agreed to form a banking commission to review the health of the sector and take necessary reform measures in line with demand of different quarters. “We’ll form a commission within a short time under the leadership of the Bangladesh Bank,” he told reporters in response to a query, after a meeting of the cabinet committee on purchase at the secretariat in the capital Dhaka on Wednesday.
662 to get income tax awards
The National Board of Revenue will award 662 individual and corporate taxpayers tax card, crest and certificate for paying the highest amount of income tax in different categories in last fiscal year (2018-2019). Of them, 141 taxpayers from individual and company categories will be awarded tax card and crest for paying the highest amount of income tax at the national level in the fiscal year.
Pension scheme bypasses 40pc population: CPD
More than 40 per cent of the nearly eight million old-age people do not receive any pension. In contrast, only 10 per cent private sector employees receive some kind of gratuity or provident fund. This post-retirement situation was revealed at a seminar on the introduction of universal pension system in the country.
Banks request BB to review stamp duty on export bills
Authorised dealers of the banks on Wednesday requested the Bangladesh Bank to reconsider a regulatory instruction that has made 0.2 per cent stamp duty mandatory on the bill of exchange against export. Besides, they also requested the central bank to formulate system automation friendly process so that the banks can facilitate online banking and mobile banking services for non-resident taka accountholders.
12 traders manipulating Cox’s Bazar’s onion business
People from low-income group are reeling from the unprecedented increase in the price of onion, although onions keep coming from Myanmar through the land-port in Teknaf, Cox’s Bazar. Chittagong District Administration has identified as many as 15 syndicates, involved in onion price hike, 12 of them in Cox’s Bazaar.
Moderate rise on investors’ increased participation
Dhaka bourse on Wednesday continued its upward trend for second consecutive session as major sectors witnessed investors’ increased participation. On the day, the broad index on Dhaka Stock Exchange (DSE) rose moderately as most of the sectors played market supportive role. The market opened the session positively and the DSE broad index DSEX continued an upward trend for an hour.