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.
Govt to set export target at $44.40bn for FY20
The government is going to set the export target at $44.40 billion from exports of goods for FY20, with a 6.76% growth target in export earnings. For the outgoing fiscal year, the government had set export target at $39 billion, where the growth target was 6.36%. Against the target, in the first 11 month of current fiscal year, Bangladesh earned $37.75 billion, which was $33.72 billion in the same period last year.
Private importers free to sell LNG to other users
The private parties concerned will have the liberty to sell re-gasified LNG at the prices negotiated with their buyers under the maiden LNG import policy adopted by the government recently. Under the "LNG Import Policy for Private Sector 2019," the private parties, local or foreign, will be able to import LNG (liquefied natural gas), re-gasify it and sell the re-gasified LNG to the consumers of their choice.
RMG workers’ payment to be digitised soon: BGMEA chief
Bangladesh Garment Manufacturers and Exporters Association president Rubana Huq on Tuesday said that the wage payment system of RMG workers was going to be digitised soon. ‘RMG workers will receive their wages under the digitised system. We are going to sign a memorandum of understanding with the ICT ministry on June 27 to introduce mobile banking ‘E-wallet for RMG workers’, she said.
Ad to hire two BB deputy governors
A government committee has decided to publish advertisements in newspapers next week looking for candidates to fill two deputy governor posts of Bangladesh Bank (BB). The decision was taken in the first meeting of the committee, held at the central bank headquarters in the capital on Tuesday with its convener and Palli Karma-Sahayak Foundation (PKSF) Chairman Qazi Kholiquzzaman Ahmad in the chair.
Bangladesh’s stocks end another flat session
Bangladesh’s stocks witnessed another flat session on Tuesday after see-saw movement as investors mostly followed a cautious stance ahead of June-closing. Most of the investors adopted cautious stance as they awaited the government move to review the proposed tax measures for listed companies, according to market operators.
Budget announcement causes price hike: survey
The prices of essential commodities tend to spiral following the announcement of national budgets, much to the distress of the poor and the ultra-poor, found a recent survey. Only one-fifth of the respondents of a survey conducted by Brac and research organisations iSocial and Unnayan Shamannay think the yearly budget announcements have nominal effect.
E-CAB seeks VAT waiver for 5 years
E-Commerce Association of Bangladesh on Tuesday demanded that the National Board of Revenue should exempt e-commerce businesses from value added tax for at least five years otherwise the growth potential of the sector would be hampered. The association raised the demand at a press briefing at a city hotel to protest against the newly slapped 7.5 per cent VAT on the e-commerce business in the proposed budget for 2019-20 fiscal.
MFS, courier service providers asked to act
Mobile financial service (MFS) providers and courier companies have been asked to take steps to control money laundering and transactions of illegally earned money, sources said. They have been told to strictly follow the provisions relating to KYC (know your customer) so that criminals could be detected
BBN/SSR/AD