Dhaka, Bangladesh (BBN)- The BBN has prepared the morning business round up compiling reports, published by different newspapers and news portals in Bangladesh.
Business delivery loses gear in FTA gridlock
A flare-up of bilateral and regional free-trade agreements (FTAs) is creating webs of complexities and confusions for international business dealings, according to trade circles. Asia-Pacific business leaders at a recent conference pointed out such problems stemming from a boom in free-trade accords concomitant with the present-day world trade regime.
India looks to export fabrics to Bangladesh
Dinesh Modi and Suresh Modi, brothers and directors of Mumbai-based fabric maker Banbury, have been looking for a partner in Bangladesh to manufacture shirts and suits to be exported to customers in the West. “If we can find a good partner here, we can collaborate to supply the fabric and they will stitch the shirts and suits for our existing Western buyers,” said Suresh at his stall at the two-day exhibition that started at Sonargaon Hotel in Dhaka yesterday.
Bangladesh’s tax returns deadline now Nov 2
The National Board of Revenue (NBR) has extended the deadline for submitting income tax returns for the current year till November 2. Earlier, the last date of submitting the tax was September 30. The NBR authorities are expected to issue a circular on the new timeline Thursday evening.
Govt to assess state banks' performance
The government will assess performance of state-owned banks and financial institutions every three months to make their boards more accountable. "So far their activities have not been accountable. Now they will have to be so," Banking Division Secretary M Aslam Alam told reporters after a meeting at the secretariat in Dhaka yesterday.
Pvt sector credit growth plunges to 11.25pc in July
The private sector credit growth in the country plunged in the first month of this financial year compared with that in the previous month as the businesspeople are yet to get confidence back to expand their business amid political uncertainty, said an economist and Bangladesh Bank officials. According to the latest BB data, the year-on-year credit growth rate in the private sector stood at 11.25 per cent in July against 12.27 per cent in June of this year.
Bangladesh’s call money rates remain unchanged ahead of Eid
Inter-bank call-money rates remained unchanged on Monday despite higher withdrawal of cash from the banks ahead of the twin festivals of Eid-ul-Azha and Durga Puja, officials said. The rates of interest on inter-bank borrowings ranged between 5.75 per cent and 8.50 per cent on the day unchanged from the previous level. However, most of the deals were settled at rates varying between 7.25 per cent and 8.25 per cent, the market operators said.
BBN/SSR/AD-30Sept14-9:39 am (BST)