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.
Export earnings post 8.55% growth in July
Bangladesh’s merchandise export earnings in July, the first month of the current 2019-20 fiscal year, posted an 8.55% growth to $3.88 billion riding mainly on apparel sector, according to the Export Promotion Bureau (EPB) provisional data. The apparel items, the largest contributor to the national exports, earned $3.31 billion, up 9.7% from the same month of last year.
Delhi asks Dhaka to use defence loan
Indian external affairs minister Subrahmanyam Jaishankar on Tuesday requested Bangladesh to utilise a line of credit extended by India for purchasing military equipment. He made the request in a meeting with his Bangladesh counterpart AK Abdul Momen in Dhaka.
Central VAT reg rules issued for businesses
The National Board of Revenue (NBR) has issued the central VAT registration rules to help businesses obtain single registration for production of ‘identical and similar’ goods and services. The ‘Value Added Tax (VAT) and Supplementary Duty (obtaining Central Registration and tax payment) Rules-2019’ now allow for central registration of businesses that maintain accounts and pay taxes centrally.
Bangladesh’s inflation rises slightly in July
Bangladesh’s inflation as measured by the consumers’ price index (CPI) moved up 10 basis points to 5.62 per cent in July on point-to-point basis due to raise in prices of both food and non-food items. Food inflation rose to 5.42 per cent in July from 5.40 per cent of the previous month while non-food inflation stood at 5.94 per cent from 5.71 per cent, according to official data.
Bangladesh’s stocks end flat amid cautious trading
Bangladesh’s stocks ended almost flat on Tuesday after choppy trading as investors booked some profits with cautious positioning. Some investors preferred booking profit on stocks that saw significant gain in the recent upsurge, while some took position on sector specific shares, taking the market in the flat zone, according to market operators.
Saudi firm looks to invest in Bangladesh’s port infrastructure
Red Sea Gateway Terminal (RSGT), one of the largest terminal operators in Saudi Arabia, is keen on making investments under public-private partnership to develop Bangladesh’s port infrastructure and maritime sector. The RSGT has proposed investing in port infrastructure development and providing technical support for the existing Chattogram, Mongla and Payra ports, said Abdus Samad, secretary to the shipping ministry.
Muhith gets duty-free car
The National Board of Revenue has allowed former finance minister AMA Muhith to release an imported car under the duty-free scheme meant for the Members of Parliament. The revenue board on Monday issued a special order exempting Muhith from payment of all types of import duty, value-added tax and supplementary duty to release a Toyota Land Cruiser jeep, a sports utility vehicle, from Chittagong Customs House.
Sonali, Rupali MDs swap seats, Agrani’s MD unchanged
The managing directors of Sonali Bank and Rupali Bank yesterday swapped seats for the next three years, in what can be viewed as a baffling round of musical chairs. Md Obayed Ullah Al Masud, who was previously the MD of Sonali Bank, the largest bank in the country, will take helm at Rupali Bank, according to a letter of the finance ministry.