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.
China keen to fund Dhaka-Ctg elevated expressway
China is keen to finance a four-lane Dhaka-Chittagong elevated expressway, which will be the largest ever costly infrastructure project planned by Bangladesh just three months back, officials said yesterday. The government is working to construct a 225-kilometre-long elevated Dhaka-Chittagong elevated expressway at a cost of Tk70,000 crore, sources said. Currently, the largest infrastructure project is Padma bridge which is being constructed at a cost of over Tk28,000 crore.
NBR moves to boost payroll taxes
Companies will have to submit a list of employees and their taxpayer identification numbers to the National Board of Revenue while showing their salary expenses -- a move by the revenue authority to boost payroll taxes. If employers fail to do so, the salary payment that they have made will be treated as income and will be taxable.
Muhith terms banking irregularities ‘looting’
Finance Minister A M A Muhith admitted in the Jatiyo Sangsad (JS) on Tuesday that there were many irregularities in the country's banking sector, and termed those plunder in some cases. "It was massive at times," the finance minister told the parliament.
PPP office tussles with NBR, SEC to ease policy
In the pipeline and ongoing projects under the public private partnership initiative face hurdles as inadequate fiscal policies have stunted the growth of large scale local and foreign investment, prompting the PPP office to hammer for policy easing efforts. While Prime Minister’s Office asked different public entities, including the revenue board and securities regulator for specific actions towards alluring potential investors through easing stringent policies, the agencies concerned so far have paid little heed, sources at the PMO office alleged.
Bangladesh’s stocks ends amid choppy trading
Dhaka stocks returned to green on Tuesday, after remaining down in the past two sessions, as some opportunist investors took position on lucrative stocks. The market started with a negative note, dipping the 4,400-mark within first 30 minutes of trading, however, recovered the losses in rest of the session, eventually ended slightly higher.
Remittance falls 8pc in May
Remittance fell 8.33 percent year-on-year to $1.21 billion in May as low oil prices continue to erode the incomes of the Middle Eastern countries that host the most Bangladeshi migrant workers. In the first 11 months of the outgoing fiscal year, Bangladesh received remittance worth $13.45 billion, down 3.37 percent year-on-year. April's receipts fell 7.75 percent year-on-year, according to data from the central bank.
IMF prods govt to enforce shelved VAT law soon
The International Monetary Fund (IMF) suggests the government to take necessary preparation to launch the shelved VAT (value added tax) law 'in the near future'. In the face of a strong opposition from businesses, the government, willy-nilly, backtracked on its move to enforce the new VAT law in fiscal year (FY) 2016-17 alongside the new budget.
Pvt sector credit growth up further
Domestic credit flow to private sector increased further as cut-down lending rates roped in corporate entities to borrow more from local banks than overseas sources, bankers said. Private-sector credits grew to 15.59 per cent in April 2016 on a year-on-year basis from 15.16 per cent in March, according to the central bank's latest statistics. The credit growth was 15.11 per cent in February.
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