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.

FID for giving facility to writ petitioners, loan swindlers

The Financial Institutions Division of the Finance Ministry has decided to request Bangladesh Bank to extend the loan rescheduling opportunities at two per cent down payment to defaulters who filed writ petitioners and are facing cases of the Anti-Corruption Commission. The decision was taken by the FID after state-owned commercial banks requested it at a meeting on January 9 that the step would help reducing the burden of bad loans, FID joint secretary Shukur Ali told New Age on Wednesday.

Accord to finally pack bags in May

The Accord on Fire and Building Safety in Bangladesh, the platform of more than 190 mostly Europe-based retailers formed after the Rana Plaza building collapse, is finally leaving the country this May. Originally scheduled to leave at the end of its five-year tenure in May 2018, the platform wanted to stay on for three more years, which the government was opposed to. Accord took the matter to court and managed to win an extension until February 13, 2020.

Rice imports so far are lowest in two decades
The country’s rice import declined to a two-decade low in the current fiscal year (FY ’20) thanks to persisting higher import duties and bumper local production, insiders have said. But such low imports and higher output hardly could bring cheer for the growers as paddy prices fell notably in the domestic market during this Aman harvest season, experts said.

Telenor hopes to settle GP audit claim without int’l arbitration

Now that the February 23 deadline for the court directive to pay Tk2,000 crore audit dues to the telecom regulator looms, Telenor Group, the parent company of Grameenphone, hopes that the ongoing audit dispute can be settled without resorting to international arbitration. Telenor Asia, however, in October last year sent a notice to the President Abdul Hamid seeking arbitration for the audit dispute after the Bangladesh Telecommunication Regulatory Commission demanded Tk12,579 crore following a audit in the company in 2016.

Bangladesh’s stocks return to green again
Bangladesh’s stocks returned to green on Wednesday after falling in two consecutive days as investors took position on different stocks particularly large capital ones. The market opened the session with an enthusiastic mood, and the Dhaka Stock Exchange (DSE) broad index – DSEX – gained 83 points within first half an hour.

Surge in zero-tax filers
The submission of zero income tax returns by both individuals and companies has risen significantly in the current fiscal year. This has raised concern among tax officials who sense the concealment of actual income by the taxpayers.

More tax facilities for private power plants
The government has extended more tax facility to private power plants with the view to making their energy cheaper to purchase. The National Board of Revenue relaxed the condition of tax holiday for the private sector power generation companies except coal-based power plant last week.

Lawmakers criticise govt

Two members of parliament on Wednesday criticised the government over the plunge of Dhaka stock market saying that the investors had lost their interest as the market seriously lacked a system of governance. Taking floor at unscheduled discussion in parliament, Jatiya Party MP Kazi Firoz Rashid demanded immediate interference of prime minister Sheikh Hasina to bring the stock market back on track.