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.

Q1 revenue collection Tk 3,355cr short of target despite good growth
Tax receipts by the National Board of Revenue fell short of target by Tk 3,355 crore in the first quarter of the current fiscal year 2017-2018 though the collection registered a healthy growth in the period compared with the same period of last FY. According to official data of the revenue board, tax officials managed to collect Tk 43,745 crore in July-September of the year against the target of Tk 47,100 crore set for the months.

JS body backs changes
The parliamentary standing committee on the finance ministry yesterday recommended passing the Banking Companies (Amendment) Act-2017 in line with the changes planned by the government. “The committee will place its report in parliament tomorrow (today),” Awami League Lawmaker Abdur Razzaque, chief of the parliamentary watchdog, told The Daily Star after a meeting at the Jatiya Sangsad Bhaban.

$100m contract signed for Summit’s floating LNG facility at Moheshkhali
Summit LNG Terminal has recently signed a $100 million contract with a consortium of marine work contractors for setting up its floating LNG storage and re-gasification terminal (FSRT) at Moheshkhali, Cox’s Bazar. It is a turnkey contract involving design, engineering, procurement, fabrication, installation and testing of the fixed infrastructure. The consortium includes Geocean SAS and MacGregor.

Bangladesh Bank sells $12m more to six banks
The central bank of Bangladesh has sold US$ 12 million more to six commercial banks directly to meet the growing demand for the greenback in the market. “We’ve sold the US currency to the banks at market rate on Monday to settle their import payment obligations,” a senior official of the Bangladesh Bank (BB), the country’s central bank, told BBN in Dhaka.

Ailing Farmers Bank gets Tk 96cr from BB
Cash-strapped Farmers Bank yesterday got a shot in the arm after the Bangladesh Bank agreed to provide short-term loan amounting to Tk 96 crore by way of repo to meet its instant liquidity demands. Repo is a short-term loan from the central bank of a country to a commercial bank in the event of any shortfall of funds. A bank has to count 6.75 percent interest if it takes loans through the repo from the Bangladesh Bank.

Govt softens stance on workers’ minimum representation
The government has softened its stance regarding the minimum required rate of workers’ representation for a trade union (TU) registration in industries to meet the ILO recommendations, said people involved with the process. The decision was taken on Tuesday, as the Committee of Experts on the Application of Conventions and Recommendations (CEACR) of International Labour Organization (ILO) is going to sit in Geneva today (Wednesday) to review the TU and other related issues of different countries.

Former BB governor: Mobile banking is a route for plunder
Former Bangladesh Bank governor Dr Mohammed Farashuddin has come down heavily on the “anomalous” banking sector, saying that looting continues in the sector in the name of mobile banking in absence of a proper regulatory framework. He was addressing as the chief guest a discussion arranged by the Anti-Corruption Commission (ACC) at the Shilpakala auditorium in Dhaka, marking the national anti-graft agency’s 13th founding anniversary on Tuesday.

BTRC won’t cooperate with Teletalk over dues
Bangladesh Telecommunication Regulatory Commission has initiated a move to refrain from supporting and giving any sort of approval to state-owned mobile phone operator, Teletalk, for non-compliance with an order of the telecom regulator. An instruction of the commission in this connection was circulated among different departments of the commission on Tuesday, an official of the commission told New Age.

BBN/SSR/AD