A worker is working at a RMG factory in Bangladesh. Photo: BBN
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.
Bangladesh looks to long-term gain
A prolonged trade war between Beijing and Washington could benefit Bangladesh as factories from China could relocate to the country in order to avoid higher tariff on exports to the American markets, said economists and businessmen. The gain will widen further if the Trump Administration slaps higher tariffs on Chinese goods such as apparel as Bangladesh is already a strong player in the global garment business and also in the US market, they said.
B'desh may face over 40pc tariff: UNCTAD
Bangladeshi exporters may face an average tariff of over 40 per cent in case a full-scale trade war intensifies. The United States (US) president, Donald Trump, has threatened a trade war and already levied increased tariffs on the products of certain countries. The victimised countries have also started to retaliate.
BAB asks banks to slash interest rates
Bangladesh Association of Banks (BAB) has asked its member banks to bring down the interest rates on deposit and lending at 6.0 per cent and 9.0 per cent respectively from July 01. The BAB’s request came following the decisions taken at a meeting of the association on June 20.
Proposed budget aimed at appeasing influencial people
The proposed national budget for the upcoming fiscal year is not public welfare-oriented, rather it is aimed at appeasing a section of influential people, said economists and rights campaigners at a roundtable discussion on Monday. They said in the budget the government focused mostly on the indirect taxes that are collected from the poor section of people while it reduced direct taxes that favoured the rich section of people.
Bangladesh’s stocks break four-day gaining streak
Bangladesh’s stocks returned to the red on Monday, snapping a four-day gaining streak, as cautious investors sold shares to pocket profits. DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 88 points or 1.59 percent to settle at 5,433, after gaining 181 points in the past four straight sessions.
350 million cft LNG to be added to national grid on July 4
To help meet the energy shortage in Bangladesh, a total of 350 million cubic feet of Liquefied Natural Gas (LNG) imported from Qatar will be added to the national grid every day from July 4. Rupantarita Prakritik Gas Company Limited (RPGCL) Managing Director Md Qamruzzaman said on Monday that the first shipment of the super-chilled gas has already been received, and will be added to the national grid at a rate of 500 million cft per day once it has been regasified.
Uniform call rate on cards
The government plans to introduce a uniform call rate for mobile phones to establish a level playing field for the country's telecom operators. Currently, for each minute the operators charge Tk 0.35 to Tk 0.40 on an average for on-net (same network) calls and Tk 0.91 to Tk 1.05 for off-net (other network) calls.
ABB wants govt. deposit at below 6.0%
Association of Bankers, Bangladesh (ABB) has urged the central bank to ensure depositing the government’s fund with its member banks at rates below 6.0 per cent. The leaders of ABB have also requested the Bangladesh Bank (BB) to intervene in the public sector banks for depositing their funds with the private commercial banks (PCBs) at maximum 6.0 per cent interest rate.
BBN/SSR/AD