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 wage growth drops in ’17
Growth in real wage in Bangladesh declined in 2017 after rising in two consecutive years, according to Global Wage Report 2018-19 published by International Labour Organisation on Monday. The report showed that the country’s wage growth in real terms (adjusted for price inflation) declined to 3 per cent in 2017 from 3.6 per cent in 2016. In 2015, the real wage growth in Bangladesh was 3.5 per cent while it was 2.4 per cent in 2014.
Entry-level RMG workers to get Tk 8,000 each
The government has finally set the minimum monthly wage for entry-level workers in the readymade garment (RMG) industry at Tk 8,000. The ministry of labour and employment published the gazette notification in this regard on Sunday.
Most listed firms deprive investors of crucial info
As many as 174 out of the 310 listed companies are withholding price-sensitive information on their websites by not updating them in gross violation of listing regulations. Another four companies’ websites are not functioning at all, while one company has no web address at all.
NBR to extend tax return submission deadline till Dec 2
The National Board of Revenue (NBR) has decided to extend the deadline by two more days until December 2 for filing income tax returns for individual taxpayers. The decision came as November 30, the last day of submitting the tax returns, is Friday, a weekly holiday, and the next day is also a weekly holiday.
Bangladesh’s PD banks for six-month auction calendar
Bangladesh’s primary dealer (PD) banks have sought reintroduction of six months tenure auction calendar instead of the existing single-month one to manage fund efficiently. They also urged Ministry of Finance (MoF) to ensure regular auction of the government treasury bills (T-bills) and bonds to facilitate development of the securities market.
Demand for mutual funds continues to be at a low ebb
The market prices of around 90 per cent units of closed-end mutual funds (MFs) are below their face value as investors’ participation in trading is thin. The prices of most of the funds have been below the face value for a long time, though many junk shares exhibited unusual spike.
Phase out cards with magnetic strips by Dec
The central bank yesterday instructed banks not to issue any credit or debit card with magnetic strips from next year, with a view to safeguarding customers against fraud. Several lenders did not replace their branded magnetic strip cards with ones with the chip-and-pin technology within the deadline of June 30, saying this would fuel their cost, said a Bangladesh Bank official.
Source tax deducting orgs must submit proceeds within respective FY: NBR
Source tax deducting organisations including companies must submit the collected tax for a financial year to the government exchequer within that financial year to avoid imposition of tax on expenditure against which the tax is collected, said National Board of Revenue in a clarification.