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.
B’desh mulls electricity export to India
Bangladesh now considers exporting power to neighbouring India to utilise the unused electricity. The Joint Steering Committee (JSC) of the two countries discussed the issue Monday to strengthen bilateral electricity trade in future.
Leather sector’s woes not ending soon
Absence of a fully functional central effluent treatment plant (CETP) and solid waste management at Savar Tannery Industrial Estate has been costing Bangladesh’s leather and leather goods exporters heavily. Currently, Bangladeshi exporters do not have any choice but to sell their goods at rates 30 percent lower than the global prices for non-compliance, industry insiders said.
Only 37 buying houses get registered with DoT
Only 37 buying houses got registered with the Department of Textiles in the government-set two-month timeframe that ended on July 28, according to DoT officials. In a gazette notification issued on May 28, the textiles and jute ministry directed all the buying houses in the garment and textile sector to get registered with the DoT within 60 days of issuance of the notification to run business in the country.
Halting recapitalization sans policy support won’t work, experts
Experts are of the opinion that the snap decision on halting recapitalization of state-owned banks (SoBs) without any policy support may create another blow to already battered public sector banks. They suggest that the government should consider stopping injection of capital in SoBs as a reform initiative and go slow in implementing it.
Bangladesh’s stocks extend losing streak for second day
Bangladesh’s stocks ended on Monday with a moderate loss and extended the losing streak for the second consecutive session. The majority number of listed securities including the large cap ones closed in red on the Dhaka Stock Exchange (DSE) on the day while the price correction of large cap companies triggered the fall of the DSE broad index DSEX.
More incentives for leather exporters
The government yesterday approved a new policy for the leather sector incorporating 17 types of incentives to boost the sector’s export earnings to $5 billion by 2024. The cabinet gave the go-ahead to the “Leather and Leather Goods Development Policy 2019” at a meeting with Prime Minister Sheikh Hasina in the chair.
NBR finally enables DEDO to refund duty to exporters
Exporters’ problem in getting duty drawback is set to be solved as the National Board of Revenue has decided to empower its Duty Exemption and Drawback Office in determining input-output coefficient for refunding the exporters. NBR in a recent meeting decided to amend the related rules so that DEDO can issue coefficient to exporters to facilitate giving refund and keep export activities uninterrupted, officials said.
Biman counts $1.1m losses for cancellation of ticket bookings
A probe body of Biman Bangladesh Airlines has recommended taking punitive action against 53 travel agents of 12 countries for the cancellation of a significant number of air tickets. It has found that these travel agents cancelled ticket bookings from 75 per cent to 96 per cent during the period between July 2018 and April 2019.