Dhaka, Bangladesh (BBN) – Highlights of Tuesday’s newspapers:
The Financial Express:
— The tax revenue collection from the largest corporate taxpayers might drop significantly in the current fiscal, following a decline of operating profits of private commercial banks (PCBs) in the first quarter.
— Westmont Power (Bangladesh) Limited has expressed its grave concern over the repairing works of its 35-megawatt (MW) second power unit and sought immediate interaction from the government in resolving the problem.
— Country’s overall import orders dropped significantly in October over the previous month of this calendar year, thanks to a drastic fall in the food grains imports, officials said Monday.
The Daily Star:
— The worst hit climate vulnerable countries have emphasised developing their own capacities to fight the effects of climate change instead of sitting idle and waiting for assistance from developed countries.
— The key index of Dhaka Stock Exchange fell to a two-year-low yesterday in signs of a bigger crisis ahead in the market, setting off protest in the busy financial hub of Motijheel. The slide bears the hallmark of the January-February crash that left many retail investors in the lurch.
— Exports grew by 35.41 percent to $1.95 billion in October compared to the previous month, riding on the performances of the apparel sector, the Export Promotion Bureau (EPB) said yesterday.
The New Age:
— The economic think-tank of the present government is scheduled to hold an emergency meeting next Sunday to devise ways and means to reduce bank borrowing as well as lower the rate of inflation. The Ministry of Finance has called the meeting to discuss the fiscal, monetary and exchange rate policies against the backdrop of excessive borrowing from the banks by the government and the high inflation rate, said its officials.
— Bangladesh and United Nations have decided to take the 38-year-old partnership to newer heights and trajectories in the areas and explore future institutional cooperation as the UN secretary general, Ban Ki-moon, is in a visit to Dhaka.
— The vulnerable situation of the overall economy has adversely affected the capital market and intensified panic in investors, said experts after the general index of the Dhaka Stock Exchange plunged to 4877.52 points on Monday.
BBN/SSR/AD-15Nov11-10:30 am (BST)