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.
10pc tax on all savings tools
The higher tax on profits from national savings instruments from this fiscal year will be applied on both new and old certificates, in a blow to the fixed income population. In the budget for fiscal 2019-20, the government imposed a 5 percent tax at source on the profit on savings certificate along with the previous five percent.
Bangladesh’s remittances hit record $16.42b in FY’ 19
The inflow of remittances grew by 9.65 per cent to a record US$16.42 billion in the just-concluded fiscal year (FY) as the exchange rate of local currency weakened against the US dollar. The figure jumped from $14.98 billion in FY 2017-18, according to the central bank’s latest statistics.
SC chamber judge stays HC order
The Supreme Court (SC) on Tuesday stayed a High Court (HC) Division order for a week, which had earlier halted the special policy guidelines for offering privileges to loan defaulters. Chamber Judge Justice Md Nuruzzaman delivered the order after an application filed by the ministry of finance (MoF) seeking the stay on the HC order.
BB warns orgs against misuse of scope
Bangladesh Bank on Tuesday warned entities or organisations not to misuse the investment scope in the national savings certificates from institutional funds. The central bank issued the instruction as it found huge investments in NSCs by different entities in the name of provident funds.
School banking deposits cross Tk1,500cr
School banking is gradually becoming popular among students across the country as their deposits with the banks crossed Tk1,500 crore at the end of March, this year. The scheme teaches kids useful skills about money management effectively. As part of the program, kids can bank at school, with a hands-on banking experience in a simple way, experts say.
Invest in youth to exploit demographic dividend
Bangladesh will have to invest more in its young people if it wants to make the most of the demographic dividend, speakers said yesterday. Prof Shamsul Alam, member of General Economics Division of the planning commission, said Bangladesh would be able to reap the benefit of demographic dividend till 2040.
Net foreign funds see negative trend after seven FYs
Net foreign fund in stocks witnessed negative trend in the outgoing fiscal year (FY) after seven fiscals as overseas investors booked profit by selling shares. Foreign investors bought shares worth Tk 40.17 billion while they sold Tk 42.01 billion worth of shares in the FY 2018-19, taking the net position of Tk 1.84 billion negative, according to data available with the Dhaka Stock Exchange (DSE).
Stocks drop for 2nd day on revised taxes
Dhaka stocks dropped for the second day on Tuesday as investors kept selling shares as the budget for this fiscal year might fail to meet expectations of many investors. DSEX, the key index of Dhaka Stock Exchange, shed 0.67 per cent, or 36.69 points, to close at 5,384.92 points on Tuesday after losing 8.42 points in the previous session.