Dhaka, Bangladesh (BBN) – The BBN has prepared the morning business round up compiling reports, published by different newspapers and news portals in Bangladesh.
NBR likely to extend deadline for tax returns
Individual taxpayers are likely to get two more months to submit their returns for the current fiscal year, a senior official of the National Board of Revenue said yesterday. The current deadline for returns submission ends today, but it may be extended to November 30.
Transfer Pricing Cell swings into action
The tax authority has moved to compile a statement of international transaction (SIT) for the first time by collecting details of all of the cross-border financial transactions conducted by the taxpayers across the country. The Income Tax wing under the National Board of Revenue (NBR) has taken the initiative to run its Transfer Pricing Cell (TPC) in full swing.
Bangladesh’s stocks edge down on profit booking
Bangladesh’s stocks returned to the red on Tuesday, breaking five-day gaining spell as the investors’ booked marginal profit. The market opened with a positive note, but could not sustain. Key index of Dhaka Stock Exchange sheds 13.58 points and selective index of Chittagong Stock Exchange loses 24.63 points after the second trading session of the week.
Sixth Five-Year Plan targets set to be missed
The government is set to miss key targets, including GDP growth, infrastructure and investment, in its six five-year plan (SFYP) to be concluded this year. According to the latest progress report of the General Economic Davison (GED), investment climate in Bangladesh remains challenging and only modest progress has been made during the plan period. As a result, slowdown at the rate of investment may lead to failure to achieve the average GDP growth rate above 7% over the remaining period of the Plan.
Four fresh forex bonds to hit market soon
The government is going to issue four more foreign-currency bonds for the non-resident Bangladeshis (NRBs) who live in the European countries to make risk-free investment on high stakes. Officials said the proposed Euro Premium Bond, Euro Investment Bond, Pound Sterling Premium Bond, and Pound Sterling Investment Bond are under processing.
India cuts interest rates by more than expected
India’s central bank has cut its key interest rate for the fourth time this year, and by more than expected. The Reserve Bank of India (RBI) reduced its repo rate to 6.75 per cent from 7.25 per cent, with economists having forecast it would trim rates to 7 per cent, reports BBC. The repo rate is the level at which the central bank lends to commercial banks.
Investment in NSCs soars to Tk 4,600cr in July-Aug on depressing bank rates
The net investment in the national savings certificates and bonds increased by 6.90 per cent in the first two months of the current financial year 2015-16 compared with the corresponding period last year. Despite an interest rate cut by the government in late May, clients have continued to invest heavily in the tools amid a dull business scenario that also forces banks to offer lower rate of interest on deposit products.
BTRC toughens up on operators for dues
Bangladesh Telecommunication Regulatory Commission (BTRC) has moved to realise its dues amounting upwards of Tk 5,243 crore from the telecom sector. This time the regulator is very serious and has decided to use all available instruments to realise the dues, said Md Sarwar Alam, spokesman for the BTRC.