A worker is working at a RMG factory in Bangladesh. Photo: BBN
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.
US move to slap tariff on all China goods brightens B’desh RMG export prospect
The latest salvo of trade war between the United States and China with US preparing to slap tariffs on import of almost all products of the Asian country, has further brighten Bangladesh garment sector’s prospect to increase the market share in the US, said garment leaders and experts.
BJMC burdened with losses
The Bangladesh Jute Mills Corporation (BJMC) appears to be a bottomless pit. Over the past decade, the government handed it Tk 7,477 crore to bail it out of its financial troubles, and yet it has put its hand out for more.
Disagreement over new VAT law ends, finally
Finance Minister AHM Mustafa Kamal said on Tuesday the new value added tax (VAT) law will be implemented from the next fiscal year as the businesses and the government sank differences over it.
High yield on govt. securities likely to continue till July
Yield on government treasury bonds (T-bonds) increased significantly on Tuesday that may continue till July, officials and bankers said. Rising demand for liquidity ahead of Eid-ul-Fitr festival along with impact on closing of the fiscal year may push up the yield on the government securities, they added.
Bangladesh’s stocks keep losing for third straight session
Bangladesh’s stocks kept their losing streak for the third straight session on Tuesday as investors continued their selling spree on sector-wise shares. Lack of investors’ confidence coupled with liquidity crunch continued to take toll on stock prices, according to the market operators.
Liquidity crisis grips leasing companies
About 60% funding of leasing companies comes from the banking sector, of them 40% are fixed deposits of banks and 20% funding comes from call money market. Highly bank dependency has made the leasing companies in crisis, according to related people.
Suspicious transactions go up 64pc
Banks and financial organisations sent a record number of suspicious transaction and activities reports to the Bangladesh Financial Intelligence Unit last fiscal year, in an indication of their commitment to fight money laundering. In fiscal 2017-18, the BFIU received a total of 3,878 suspicious transaction reports (STR) and suspicious activity reports (SAR) from reporting agencies, up 64.50 percent year-on-year, according to the BFIU’s annual report, which was released last week.
MFS likely to come under close watch
Mobile financial services (MFS) like bKash and UCash are likely to be brought under close monitoring by the government soon, officials said. The government is moving towards such regular screening after it finds concrete evidence of criminal activities being carried out by using digital financial service, they added.
BBN/SSR/AD
