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.
Final estimates put GDP growth at 7.86pc in FY ‘18
The country’s economy expanded at a rate of 7.86 per cent in the last fiscal year (FY) 2017-18, propelled by its industrial and agriculture sectors, the final data of Bangladesh Bureau of Statistics (BBS) showed. The final Gross Domestic Product (GDP) growth was 0.21 percentage points higher than 7.65 per cent, the government’s previous estimation, unveiled in May.
10 firms to invest $220m in two years
Ten local and foreign companies will invest about $220 million in Bangabandhu Hi-Tech City at Gazipur’s Kaliakoir within a year, leading to the creation of 5,000 jobs in the coming years. Bangladesh Hi-Tech Park Authority (BHTPA) will next week hand over 28 acres of land to the firms.
Importers get Tk 17,100cr in duty benefits in FY16: WB
The government gave Tk 17,100 crore in duty concessions to importers in financial year 2015-2016 through providing various exemptions and duty waiver on imports, according to a World Bank estimate. ‘Total estimated revenue foregone on customs duty in FY 2016 was about 1 per cent of the country’s gross domestic product and 11.7 per cent of taxes collected by the National Board of Revenue,’ it said in a policy note on ‘estimate of revenue foregone on customs duty in Bangladesh’ released on August 29.
Record 11,534MW power generation in Bangladesh
Bangladesh has broken yet another power generation record by producing an unprecedented 11,534MW of power. This record power generation occurred around 7pm Monday against the forecast demand of 11,800MW during the evening peak hour, sources at the Bangladesh Power Development Board (BPDB) said.
Rising middleclass brings cheers for supermarkets
The rise of the middleclass and their growing purchasing power are driving the growth of the supermarket business in Bangladesh, said insiders. According to the market players, the sector is likely to witness further growth riding on rapid urbanisation and higher per capita income.
IsDB invites Bangladesh to subscribe to Islamic bonds
Jeddah-based Islamic Development Bank (IsDB) has invited Bangladesh to subscribe to its second edition of Sukuk (Islamic bonds), officials said. The bond is scheduled to be floated this month. Under its US$ 25 billion medium-term note (MTN) programme, IsDB issues the bond to meet its funding requirements.
BTRC notifies Bangla Phone of ISP licence cancellation
Bangladesh Telecommunication Regulatory Commission on Tuesday notified Bangla Phone Limited that the commission had cancelled its internet service providing licence. The telecom regulator issued a letter to Bangla Phone in this connection and asked the entity to refrain from conducting ISP business.
Securities law violations on the rise
Investor confidence is being hit by a rise in securities law violations by listed firms, brokerage houses and individuals, market experts have warned. According to the Bangladesh Securities and Exchange Commission (BSEC), a total of 96 companies were fined and warned for non-compliance in the first eight months of this year.