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.

New telecom policy finally gets nod
The government yesterday gave its long overdue approval to the draft of the national telecom policy that addresses the fast evolving scenario of the country’s telecom landscape. The new policy will replace the existing one, which was formulated in 1998. The policy allows spectrum and service neutrality, a pressing demand of the country’s mobile operators. It aims to achieve 100 percent teledensity and 65 percent internet penetration by 2021.

Forex reserves cross $30b-mark
Country’s foreign exchange (forex) reserves crossed the US$30- billion mark Monday principally as the global market slump lowered import-payment pressures on the economy. The forex reserves rose to $30.001billion on the day, setting a new record, from $29.86 billion of the previous working day, officials said. It was $29.01 billion on April 25.

Pound hits 6-yr low against taka on Brexit fear
The exchange rate of the pound sterling against Bangladeshi currency taka hit a 6-year low on Monday as the British currency lost value of around Tk 10 in last two working days in line with the global trend of weak pound in the wake of British referendum to leave European Union. Data of different private and state-run commercial banks showed that their selling rate of pound came down to Tk 105-Tk 107 on Monday from around Tk 116-Tk 117 on Thursday while buying rate fell to Tk 101-Tk 103 from Tk 111-Tk 113.

Brexit not a concern for forex market in Bangladesh
The exchange rates of foreign currencies except British Pound Sterling still remain stable in Bangladesh’s forex market even after the exit of Britain from the European Union (EU) on June 23. The country’s economists are not yet concerned about the Brexit as it has no short-term direct impact on Bangladesh’s financial market. However, they feared that the country might face the impact on the export and remittance in the long run.

DSEX crosses 4400-mark on buying spree
Bangladesh’s stocks ended higher on Monday, with key index of the Dhaka Stock Exchange (DSE) crossing 4,400-mark, as optimistic investors went on buying spree on large-cap stocks. As only three trading sessions are left before Eid vacation, the market saw some buying pressure as pre-Eid sale pressure ended. Trading on bourses will remain closed from July 1 to July 9 on the occasion of Eid-ul-Fitr.

German team due today
A German team of aviation experts is coming to Bangladesh today to audit the security standards at the international airport in Dhaka, two days after German national carrier Lufthansa stopped carrying direct cargoes from Bangladesh on security grounds, sources have said. Like the UK experts, the German team will also conduct the validation under the regulations of the European Union (EU), said a source at the Biman Bangladesh Airlines. Germany’s civil aviation authority has already sent a letter to the Biman in this regard.

Investment rebate may rise to 25pc
The proposed limit for individual taxpayers’ investment rebate is set to be revised upward in the new finance act following widespread criticism of a squeeze. Official sources said the ceiling for investment rebate may be raised to 25 per cent from the proposed 20 per cent.

Banks asked to ensure round the clock ATM, POS service
The central bank of Bangladesh has instructed commercial banks to ensure operations of ATM (Automated Teller Machine) and POS (Point of Sale) round the clock during the Eid vacation. “The central bank has taken the measures to ensure the digital financial transactions particularly during the Eid-ul-Fitr vacation,” a senior official of the Bangladesh Bank (BB), the country’s central bank, told BBN in Dhaka.

BBN/SSR/AD