Dhaka, Bangladesh (BBN) – The BBN has prepared the morning business round up compiling reports, published by different newspapers and news portals in Bangladesh.
BB launches $300m investment fund
The central bank launched a US$300 million investment fund for helping the country attain maximum economic growth through accelerated productive activity. Officials said with this end in view, the funds would be used for boosting medium-and long-term investment, particularly in productive sectors. The Bangladesh Bank (BB) issued a circular along with 112-page operations manual Tuesday to disburse the funds under the Financial Sector Support Project (FSSP) of the central bank.
River transit fees to be fixed next month
Bangladesh may propose to charge India a maximum transit fee of Tk 382 or $4.9 for each tonne of goods ferried through its river routes. The proposal may be placed at the scheduled meeting of the two countries’ shipping secretaries in New Delhi on November 16 and 17. The fee structure, which was drafted during an inter-ministerial meeting last month, would have a minimum rate of Tk 282.
Muhith instructs steps to reduce fuel oil prices
The ministry of finance is mulling to reduce the prices of fuel oil in local market to rationalise the value of the petroleum products in line with their falling prices in the international market. Finance Minister AMA Muhith has asked his ministry officials to initiate the process of cutting fuel oil prices, saying Bangladesh Petroleum Corporation has been making profit out of selling fuel oil at high prices. ‘Prices of crude and refined oil have reduced in the international market. We should also rationalise the prices. We have already made huge profits that turned BPC and refineries financially sound,’ read the directives of Muhith, given to finance division for action.
Tofail: FTA between Bangladesh and Sri Lanka soon
All the preparations to ink the FTA with Sri Lanka have already been done, despite still having some difficulties over export-import duties on goods in bilateral trade between Bangladesh and Sri Lanka. Bangladesh is going to sign Free Trade Agreement (FTA) with Sri Lanka soon to further enhance the existing trade and commerce ties between the two South Asian countries.
Bangladesh’s stocks dip with low turnover
Bangladesh’s stocks plunged on Tuesday with Dhaka Stock Exchange turnover dipping below BDT 3.0 billion-mark after seven months. The market faced the nosedive as most of the investors were reluctant to make fresh investments, experts said. Though the market opened with positive mood, but it could not sustain the trend within 10 minutes of the trading and the trend continued till the closing of the session.
Muhith unhappy over poor tax collection
Finance Minister AMA Muhith yesterday expressed his dissatisfaction over the sluggish growth of revenue collection in the July-September quarter, a damper for the government’s high expenditure needs. The National Board of Revenue earned Tk 30,905 crore in revenues for the July-September period of fiscal 2015-16, up 9.5 percent year-on-year.
After Myanmar, India new waterways in offing to link Bangladesh
After Myanmar, India has kicked off the process to open new waterways with Bangladesh, a move that would facilitate the movement of people, goods and machinery between them and hugely help land-locked northeastern India. According to union Minister for DoNER (Development of North Eastern Region) Jitendra Singh, India is prioritising multi-modal connectivity in the northeastern region, including water connectivity, and already 16 waterway projects, mostly involving Bangladesh, have been approved for this region, reports the IANS.
ROBI-AIRTEL MERGER: GP seeks BTRC opinion about spectrum auction
Leading mobile phone operator Grameenphone has recently sought clarification from the telecom regulator about the auction process of 1800 band or the remaining 2G spectrums once two other operators, Robi and Airtel, complete their merger. According to a GP letter to the Bangladesh Telecommunication Regulatory Commission last week, the operator said after the merger of Robi and Airtel, the joint entity would have more than 20MHz spectrum in 2G band.