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.
Power market to be fully opened for pvt sector
The government plans to open power market allowing private entrepreneurs to play in electricity generation, transmission and distribution. To make the power market open, the government included a provision in a draft law which is now set to be placed before the parliament to replace the 105-year old law, said officials.
China to expand duty benefits for Bangladesh
China plans to extend duty-free benefits to 17 more products from Bangladesh, including leather goods and tobacco, in an effort to deepen trade relations between the two countries, officials said yesterday. China has long been providing duty-free benefits to 4,700 products, mostly garments from Bangladesh. The new duty-free list includes some additional garment products.
Bangladesh’s industrial imports grow by 6.47% in FY 16
Bangladesh’s overall imports for industrial sectors grew by 6.47 per cent in the last fiscal year (FY), thanks to higher import of capital machinery, officials said. The actual import in terms of settlement of letters of credit (LCs) rose to US$30.20 billion during the July-June period of FY 2015-16 from $28.36 billion in the same period of the previous fiscal, according to the central bank’s latest statistics.
BB to watch over granting big loans
Bangladesh Bank has decided to direct commercial banks to take special cautionary measures while sanctioning large credits and to see collateral against loans is not overvalued by the borrowers. A recent meeting of the central bank’s supervision committee came up with the decision of “strong monitoring” over the commercial banks’ sanctioning of large loans to single borrowers, official sources said
Bangladesh’s stocks slip into red for third day
Bangladesh’s stocks inched down for the three consecutive sessions on Monday, as investors went on late hours selling spree. The market opened with a higher note and the key index of the premier bourse gained around 11 points within first 30 minutes, but rest of the session fell steadily, eventually ended slightly down. DSEX, the prime index of the Dhaka Stock Exchange (DSE), finished at 4,577.85, shedding 1.18 points or 0.03 percent over the previous day.
BTMC moves to reopen six mills with Chinese help
A move is on to reopen six more closed textile mills under Bangladesh Textile Mills Corporation (BTMC) aiming to make the ailing corporation operationally sound and economically viable, officials said. Under the move, the Ministry of Textile and Jute has sent a proposal to the Planning Commission (PC) seeking the latter’s approval to go for joint venture with a Chinese company.
Teletalk yet to block its 20 lakh unregistered SIMs
State-owned mobile operator Teletalk is yet to block 20 lakh of its biometrically unregistered connections, which is allowing a huge volume of illegal international incoming calls and depriving the government of revenue. In two different drives in the last two months, Bangladesh Telecommunication Regulatory Commission found a huge number of Teletalk SIMs that were used in illegal call termination.
ROOPPUR NPP: Russian credit interest likely up to $8b
Bangladesh may have to pay up to $8 billion in interest against a Russian state credit of $11.385 billion for the construction of Rooppur nuclear power plant in Pabna. With this, the total construction cost of the nuclear power plant will be approximately $21 billion as the government would also need to pay another $1.265 billion over an eight-year construction period, said officials.