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.
Food inflation up in Oct on onion prices
Food inflation increased by 0.19 percentage points to 5.49 per cent in October amid surge in the prices of onion during the month, according to the data of the Bangladesh Bureau of Statistics. In September, food inflation stood at 5.30 per cent.
NBR to slap VAT on unprocessed tobacco
The National Board of Revenue (NBR) has decided to impose Value Added Tax (VAT) on unprocessed tobacco in a bid to offset the recent decline in its revenue earning from the sector. The board has taken the decision in a meeting recently, against the backdrop of a significant fall in revenue collection from tobacco sector in the current fiscal year (FY), 2019-20.
Sustainable production to boost RMG orders
Western retailers yesterday said they would opt for long-term sourcing of apparel items from Bangladesh in increased volumes provided there is sustainability in production here. Praising Bangladesh’s entrepreneurs for increasingly adopting green garment factories, they urged the manufacturers and government for continuation of such drives for better sustainability in the sector.
Export earnings fall nearly 7.0% in four months
Bangladesh’s overall export earnings decreased by nearly 7.0 per cent in the first four months of the current fiscal year (FY) following economic slowdown in Europe and trade tension between the US and China. Overvalued of the local currency against the US dollar compared with other competitors in the global market has also pushed down the export earnings during the period under review, exporters have blamed.
DSE turnover rises to Tk 3.07 billion
Dhaka bourse closed the Tuesday’s session marginally higher after correction of previous session following investors’ increased participation in major sectors. The market opened the days’ session with a positive note and the DSEX, the broad index of Dhaka Stock Exchange (DSE), continued the upward trend for half an hour.
ROOPPUR NUCLEAR POWER PLANT: Tk 3,449cr project to ensure security
The government yesterday approved another project worth Tk 3,449 crore to enhance the security of the country’s first nuclear power plant in Rooppur, which tends to be vulnerable to attacks. The project, which got the approval in the meeting of the Executive Committee of the National Economic Council chaired by Prime Minister Sheikh Hasina, will look to address Design Basis Threat (DBT) and beyond as well as cybersecurity.
BSEC puts 50% price cap on first two days of debutant stocks
The securities regulator on Tuesday decided to put 50% circuit breaker or price cap on share prices of newly listed companies for the opening three days in the stock market to prevent their abnormal price rise or fall. The decision was made in the Bangladesh Securities and Exchange Commission meeting, presided over by Commission Chairman M Khairul Hossain.
USAID identifies six promising industries beyond RMG to diversify
An USAID study identified six promising industries beyond the readymade garments (RMG) to help Bangladesh diversify its export basket to stimulate new streams of economic growth. The study named Comprehensive Private Sector Assessment (PSA) identified agribusiness (food processing), healthcare, information and communications technology and outsourcing, light engineering, pharmaceuticals, and tourism as the most promising industries beyond the RMG for private sector engagement and investment.