Bangladesh submarine cable gets ISP license

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.

Govt works on 3rd submarine cable
Bangladesh Submarine Cable Company Ltd (BSCCL) has kick-started the preparations for its third undersea cable link to meet the country’s growing demand for data. “It will hardly take few years to consume all the bandwidth the country has right now,” said Mustafa Jabbar, telecom minister.

Completion of current projects takes priority in coming ADP
Government’s election-year development programme will be focused on timely implementation of the ongoing projects, instead of undertaking new ones, alongside proper use of resources and optimum output. Officials concerned gave such a preview of the next development budget as the finance and planning authorities are doing the arithmetic of the Annual Development Programme (ADP) for the fiscal year (FY) 2018-19.

Bank, non-bank officials asked to join March 22 celebration
The financial institutions division has asked the Bangladesh Bank, state-owned commercial and specialised banks, and non-bank entities to join a procession on March 22 for celebrating the country’s elevation to a lower middle-income country. The division issued the directive, signed by its secretary Eunusur Rahman, on Sunday as the government expected that the United Nation would come up with the announcement on March 15 or16.

Tribhuvan International Airport ranks among the worst in Asia
Tribhuvan International Airport (TIA), the sole international airport in Nepal, is one of the riskiest airports in the world and was ranked the second worst airport in Asia in 2016 based on security and customer services. TIA is located about six kilometres from Kathmandu city, in the Kathmandu valley. The airport was inaugurated in 1955 and regular jet operations commenced in 1972.

Bangladesh launches $400m project to develop infrastructure
The central bank of Bangladesh has started Investment Promotion and Financing Facility (IPFF-II) project with over US$400 million disbursement target for infrastructure development in nine key sectors. An official list of the sectors eligible for drawing the funds includes ports, power, environment, industrial estates and water supply.

Bangladesh’s stocks fall for third consecutive day
Bangladesh’s stock witnessed free fall on Tuesday, extending the losing streak for third consecutive session as many investors offloaded shares amid lack of confidence. At the end of Tuesday’s session, the broad index (DSEX) lost 1.43 per cent or 81.92 points and settled at 5,623.64 points.

Bangladesh Bank sells $10m to four banks
The central bank of Bangladesh has sold US$10 million more to four commercial banks to meet the growing demand for the greenback in the market. The central bank sold the foreign currency to the banks on Tuesday at market rate to settle import payment bills particularly for food grains and fertilizers, according to a senior official of the Bangladesh Bank (BB).

Duty benefit extended for fire safety tools import
National Board of Revenue has extended duty benefit along with relaxing conditions for export-oriented readymade garment industries in import of fire safety equipment. Customs wing of the revenue board on March 11 issued a statutory regulatory order amending the previous SRO and relaxing restriction on the number of imports of the equipment.

BBN/SSR/AD