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.
Remittance falls 2.55pc last fiscal
The country counted a 2.55 per cent fall in inward remittances in the just-concluded fiscal year principally for slower development activities in the Middle East. According to the central bank statistics, released Monday, the inflow of remittances came down to US$14.93 billion in the FY 2015-16 from $15.32 billion a year ago.
APG annual meeting shifted to US from Bangladesh
Asia Pacific Group on Money Laundering (APG) has postponed its annual meeting for this year scheduled to be held in Dhaka, the APG said in its latest notification. The meeting will now be held in the United States in September next, according to the notification. “Details of the venue and time will be posted as soon as final arrangements are made.”
Food products show great export promise
Locally manufactured spices, biscuits, juices and drinks are fast gaining ground abroad thanks to a sizeable population of non-resident Bangladeshis. Take, for instance, the case of spices. In fiscal 2009-10, food processers shipped $3.93 million worth of cooking condiments.
PM to meet Putin, Abe, Merkel, Li
The prime minister, Sheikh Hasina, will meet at least 10 top leaders of different countries and international organisations in Mongolian capital Ulaanbaatar on Friday and Saturday. The leaders who are likely to hold separate meetings with Hasina include Russian president Vladimir Putin, Chinese prime minister Li Keqiang, German chancellor Angela Merkel, Japanese prime minister Shinz’ Abe, Italian prime minister Matteo Renzi, Myanmar president Htin Kyaw and Mongolian president Tsakhiagiin Elbegdorj.
Target for 300K new taxpayers in FY17
The revenue authorities have targeted to increase the number of total taxpayers by 300,000 in this fiscal year. The current number is 1.2m. After instructions from the government high-ups, the National Board of Revenue has already started working on the matter. Finance Minister AMA Muhith last month held a meeting with the NBR and asked tax officials to set strategies for the expansion of tax base.
Bangladesh’s stocks edge up amid bumpy ride
Bangladesh’s stocks returned to the green on Monday with volatile trading as most of the investors remained followed cautious stance. Brokers said the market witnessed volatility as the retail investors remained worried following recent terror attracts in Bangladesh, while many investors are yet to join in the market after nine-day long Eid vacation.
DTAAs prove obsolete in fighting fund flight
A government move is underway to review and update the relevant international treaties with different countries as the instruments proved obsolete in dealing with external trade and vices like capital outflow in the digital era, officials said. They said the urgency of revisiting the deals, known as Double Taxation Avoidance Agreement (DTAA), was felt after the revenue authority had failed to receive any response to queries from the partner countries regarding siphoned wealth of the Bangladeshis.
American companies disappointed by USTR’s latest review
Leaders of the American apparel, footwear and outwear companies expressed disappointment over the United States Trade Representative’s latest review of trade privileges as they will not benefit from the decision. The USTR in its annual review last month has allowed duty benefit to some travel goods like luggage, handbags and backpacks from least-developed beneficiary countries and nations covered by the African Growth and Opportunity Act