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.
Transit fee too low
The fee agreed by Bangladesh for allowing multimodal transit and transshipment facilities to India is low when compared to the benefits the neighbouring country stands to gain from the services, analysts said. Locked in June last year by the shipping secretaries of the two countries, the fee does not reflect the recommendations of the government-formed core committee and other international practices.
Indian transit thru BD begins formally
A ship carrying 1,000 tonnes of steel and iron sheets, bound for Tripura, is scheduled to reach Ashuganj river port on Wednesday morning as Bangladesh and India are ready to launch formal transit trade and transportation. According to officials, with transshipment of this consignment to India’s northeastern state, the formal transit between the two neighbours will become fully operational, with provision of third-country access.
Law ministry’s opinion sought on suing BB officials
Finance ministry has sought opinion from law ministry over plan to file criminal lawsuits against Bangladesh Bank officials who have been accused of negligence which is believed to help the hackers steal $81m from the central bank’s US account. Bank and Financial Institutions Division yesterday sent a letter to the law ministry seeking the opinion, sources at Bank Division said.
ACC bats for ‘black money whitening’ in letter to NBR
The Anti Corruption Commission has advocated in favour of the scope of legalising undisclosed money by paying taxes and penalty under the income tax law, saying that such opportunity has been playing a role in prevention of corruption. Such scope will also draw untaxed money into the mainstream economy, the national anti-graft body said in a letter sent to the National Board of Revenue.
Bangladesh’s stocks edge up amid bumpy ride
Bangladesh’s stocks closed slightly higher on Tuesday with volatile trading, after witnessing negative trend in the past three consecutive sessions, as optimistic investors took position on lucrative stocks. After witnessing volatile trading almost throughout the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), finished at 4,409.08, advancing 3.68 points or 0.08 per cent.
Steps underway to arrest sugar price spiral
In the face of spiralling prices of sugar, Bangladesh Tariff Commission will sit with importers, refiners and traders tomorrow to suggest a rational selling price of the sweetener. “The commission will want to know about the stock and determine what the prices should be in the local market. It will then recommend the next course of action,” Mushfeka Iqfat, chairman of the commission, told The Daily Star.
Ministry rejects recommendations for appointment of 3 BB dy governors
Bank and Financial Institutions Division of the Finance Ministry has cancelled the recommendation of a government-formed search committee to appoint three deputy governors of Bangladesh Bank. A high official of the finance ministry told New Age on Tuesday that the ministry had cancelled the recommendation as different types of allegations had recently been raised against the persons whose names were proposed for appointment as deputy governors of the central bank.
10 banks may invest again in share market: BB
Two more private commercial banks (PCBs) have applied to Bangladesh Bank (BB) seeking policy supports for adjustment of their capital-market overexposures within the timeframe, officials said. The banks – the City Bank Limited and One Bank Limited – are still maintaining more than 25 per cent capital-market exposures while all banks’ capital-market exposures came down to 21 per cent in April from 23 per cent in March.