Chittagong port

Chittagong port of Bangladesh

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.

Fresh congestion slows Ctg port
Chittagong Port has been facing container congestion for a week, the second this month, mainly because of slow delivery of import containers and transportation of containers to private inland container depots. Import-laden containers lying in the port yards totalled 44,473 TEUs (twenty-foot equivalent units) till yesterday against the port’s storage facility of 37,620 TEUs.

No visible headway yet in BSEC move
The proposed Electronic Data Gathering, Analysis and Retrieval (EDGAR) system of the securities regulator has not made any visible progress yet, though the move was initiated two years ago. The Bangladesh Securities and Exchange Commission (BSEC) had earlier taken the initiative to introduce the EDGAR system aimed at speeding up the data and information submission by market intermediaries and listed companies.

BB okays NITA for Chinese group to send Tk 947cr to Bangladesh
Bangladesh Bank has approved the Dhaka Stock Exchange’s proposal for non-resident investors taka account in favour of a Chinese consortium so that the corsortium can transfer Tk 947 crore to Bangladesh to buy DSE shares. In accordance with the share purchasing agreement, the consortium would transfer Tk 947 crore against 45,09,44,125 ordinary shares of the DSE at Tk 21 each to be the bourse’s strategic investor, DSE offiicals said.

Bangladesh urges Sri Lanka to implement free trade deal
The Bangladesh government yesterday urged Sri Lanka to implement a free trade agreement (FTA) designed to enhance bilateral trade between the two countries. Planning Minister AHM Mustafa Kamal made the call at a meeting held with Sri Lankan Prime Minister Ranil Wickremesinghe on the eve of the two-day Indian Ocean Conference 2018 in Hanoi, Vietnam, reports UNB.

Dhaka stocks slip back to red, CSE up slightly
Dhaka stocks slipped into the red on Monday, breaking a five-day winning streak, as risk-averse investors booked some profits. Following the previous five days’ upward movement, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened on positive note amid low trading activities.

Steelmakers flexing muscles
Steelmakers are investing thousands of crores of taka either to expand existing capacity or set up new units as consumption is on the rise. Per capita steel consumption in Bangladesh has grown more than 54 percent to 37kg in the last eight years thanks to the government’s large infrastructure projects and the thriving housing sector.

Rice yield hits record high
The country’s rice production hit a new record of 36.2 million tonnes in the last fiscal year (FY), 2017-18. According to the official data, the output was 7.1 per cent higher than that of FY ’17. It was 34.7 million tonnes (the then record) in FY ’15 which declined to 34.68 million tonnes in FY ’16 and then to 33.79 million tonnes in FY ’17.

NBR develops 10 e-tools to facilitate tax collection
The National Board of Revenue has developed 10 automated tools to ease overall tax collection and monitoring. The electronic tools include return processing tool, audit management system, bank search tool, advance tax remainder, demand and collection tool, customs e-payment, electronic export general manifest submission, LTU VAT mobile apps, e-savings software and Benapass software for cargo import and export car pass data record.