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.
Nov imports up 12pc on oils, fertilizers
The country's overall ">import increased by more than 12 per cent or US$416.85 million in November over the previous month, mainly due to higher import of fuel oils and fertilisers, officials said. The actual import in terms of settlement of letters of credit (LCs) rose to $3.77 billion in November 2016 from $3.36 billion in October 2016. It was $3.20 billion in November 2015, according to the central bank's provisional data, released on Monday.
Tax receipts rise 18pc on political calm
Tax receipts rose 18 percent year-on-year to Tk 49,874.68 crore in July-October, spurred by taxmen's efforts, political stability and increased imports. Tax collection soared 20 percent to Tk 13,439 crore in October from the same month last year, according to data compiled by Bangladesh Bank that cited preliminary statistics from the National Board of Revenue. The NBR is yet to release its latest collection data.
BB asks 30 banks to reduce defaulted loans by Dec 31
Bangladesh Bank has asked 30 scheduled banks to take initiative to reduce their defaulted loans by December 31 as their non-performing loans increased significantly in the third quarter (July-September) compared with that of the previous quarter. The BB has asked eight banks of the 30 banks to take measure to keep required provision within this year as they faced provision shortfall at the end of third quarter.
ILO: Most female SME owners hardly get loans
Over 60% women Small and Medium Enterprise (SME) entrepreneurs in Bangladesh do not get loans neither from the government nor the private loan providers, says a study of ILO, Bangladesh. On the other hand, 88% SME women entrepreneurs expressed their dissatisfaction over the cumbersome loan application process that is a great barrier in the way of getting their desired loans, view specialists at ‘Dhaka summit on skill, employment and decent work 2016’ held at a city hotel yesterday.
Bangladesh’s stocks return to green
Bangladesh’s stocks returned to the green on Monday, after a single-session correction, as optimistic investors went on late hours buying spree. Meanwhile, trading and official activities will remain closed on Tuesday on both bourses due to government holiday on the occasion of Eid-e-Milad-un Nabi. Brokers said the market returned to gaining streak after moving heavily between red and green in the first half of the day’s trading session, while last half went up steadily.
Bangladesh Bank responsible for $81 million heist: RCBC
The Philippines bank through which $81 million stolen from Bangladesh's central bank was channeled in February today said that the central bank was responsible for the heist, and so any liability should not be passed on. Manila-based Rizal Commercial Banking Corp (RCBC) was responding to comments by a Bangladeshi investigator that some Bangladesh Bank officials deliberately exposed its computer systems and enabled hackers to steal the money from its account at the Federal Reserve Bank of New York.
BPC has to use profit to repay debt to govt
Bangladesh Petroleum Corporation (BPC) ought to deposit its profit to government exchequer as 'repayment of loan' until a debt burden of Tk 263 billion is defrayed, according to an official order. The ministry of finance (MoF) issued a letter to the BPC through the Ministry of Power, Energy and Mineral Resources (MPEMR) last week to this effect.
Mandatory e-export process from Dec 26
The National Board of Revenue is going to make the electronic export mechanism, also known as e-EXP, mandatory for all exporters from December 26. Under the system, customs officials will check the authenticity of the export permit form (EXP) issued by banks in favour of exporters with information provided in the bill of export through its automated Asycuda World System. Customs officials will not process the bill of export if the exporters do not provide EXP information in the bill of export, said an order issued by the NBR on December 7.
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