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.
Apparel exporters want 5% cash incentives
Apparel exporters want 5% cash incentive in the budget for the fiscal year 2019-20 against exports of clothing goods to all destinations for the next five years to help the exporters turn around in this crucial time. However, Exporters Association of Bangladesh (EAB), a platform of exporters, has demanded 5% cash incentives for all exports goods for the next five years.
Subsidy burden to be 23pc heavier
The government’s subsidy expenditure is likely to soar 22.28 percent year-on-year to about Tk 45,000 crore next fiscal year as its looks to continue to provide cheaper gas and extend cash incentives to remitters and exporters. The price of gas has become a topic of much contention thanks to the addition of costlier imported liquefied natural gas to the supply from this fiscal year.
Metro-rail’s progress 18pc below target
Progress of the country’s first metro-rail project (MRT-6) has fallen short of the respective target by some 18 per cent until last month (April), following the lowest implementation rate in the current year, officials said on Monday. The slow progress of the 20.1-km metro-rail construction work is likely to delay its launching by 2021, although the government expects to inaugurate the line on the occasion of 50th anniversary of Bangladesh’s independence.
Local industries allowed borrowing from offshore banking
Country’s industrial enterprises are now allowed to enjoy foreign currency loans with lower interest rate from offshore banking operation of banks, officials said. Under the regulations, interested local industrial enterprises will have to submit loan proposal in a prescribed form to the Banking Regulation and Policy Department (BRPD) of the central bank for approval, according to a notification, issued by the central bank on Monday.
Bangladesh’s stocks witness another flat session
Bangladesh’s stocks witnessed another flat session on Monday after see-saw movement as investors followed cautious stance ahead of Eid festival. Most of the investors continued trading cautiously as Eid festival near, market operators said, adding that only three trading sessions are left before nine-day Eid-ul-Fitr vacation.
NBR to launch uniform lowest import values for all origins
The National Board of Revenue has decided to introduce country-neutral minimum import value for specific products in place of the existing country-specific rate system to address the grievances of European countries. The board moved to eliminate the differences in minimum import prices for products originating from Asia and Europe following repeated demands from the EU delegation in Dhaka.
MFS accounts fall 22pc in four months
The number of active user accounts in the mobile financial service industry declined 22 percent in the last four months because of strengthening of monitoring by the central bank and a variety of options available to customers. The industry started the year with 3.73 crore active user accounts but at the end of April it declined to 2.91 crore, according to a report of the central bank.
PM embarks on 12-day tri-nation tour today
Prime Minister Sheikh Hasina leaves Dhaka for Tokyo this (Tuesday) morning on a 12-day tri-nation visit to Japan, Saudi Arabia and Finland, reports UNB. A special flight of Biman Bangladesh Airlines carrying the Prime Minister and her entourage will depart Hazrat Shahjalal International Airport at 8:55am.
BBN/SSR/AD
