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.
Unrecorded cash transactions limit may be set at Tk 10,000
The Anti-Corruption Commission (ACC) has proposed that the government set a cash transaction limit of Tk 10,000 in a bid to curb corruption through unrecorded transactions. The government might also make it mandatory for all transactions above that limit to be done through bank or using debit and credit cards, the ACC said in its proposals.
Agri food processors eye $1b in exports
Agricultural food-processing entrepreneurs yesterday said they can raise their annual exports by more than 40 percent to $1 billion within 2021 through adoption of advanced technology. Shipment by the agricultural food-processing sector stood at around $700 million in the last fiscal year.
BB slashes interest rates on EDF loans to boost exports
The central bank of Bangladesh has slashed interest rates on loans under the Export Development Fund (EDF) scheme by 1.0 percentage point to facilitate exporters. Under the revised policy, exporters will now get such loans from the commercial banks at six-month US Dollar (USD) London Inter-bank Offered Rate (LIBOR) plus 1.50 per cent instead of six-month USD LIBOR plus 2.50 per cent.
Govt warns of action against salt rumour
The government on Tuesday warned of stern action against any attempt to spread rumours over salt and ruled out the possibility of any salt crisis in the country. ‘Stern action will be taken if any individual or quarter tries to spread rumours over salt or any other thing on social media or in any other way,’ said a press note issued here.
Bangladesh ups home loan limit to BDT 20m
The central bank of Bangladesh has raised the home loan limit to BDT 20 million from BDT 12 million in view of high prices of construction materials. As per the revised policy, the maximum per party ceiling in respect of housing finance by the banks will be BDT 20 million, according to a circular issued by the Bangladesh Bank (BB) on Tuesday.
Nine companies relegated to ‘Z’ category
Nine listed companies were relegated to ‘Z’ category from their earlier groups of ‘A’ and ‘B’ as they failed to declare any dividends for the year that ended on June 30, 2019. The newly placed companies in ‘Z’ category are: Salvo Chemical Industry, Zahintex Industries, Usmania Glass Sheet Factory, R.N. Spinning Mills, Renwick Jajneswar and Co (Bd) Ltd, Intech Limited, Bd.Thai Aluminium, Khan Brothers PP Woven Bag Industries and Generation Next Fashions Limited.
Power, food, jute issues see selling frenzy
Trading remained dull on Dhaka bourse on Tuesday as the major sectors were mixed. The market opened the day’s session showing optimism and the broad index of Dhaka Stock Exchange (DSE) continued its upward trend for 45 minutes. Later, the market observed selling pressure in some major sectors.
India may extend onion export ban to Feb
India may keep a ban on onion exports until February because domestic prices have risen after the harvest of summer-sown crops, which were expected to augment supplies, was delayed and damaged by untimely rains, a government official said. The ban on overseas sales by India, the world’s biggest exporter of the bulb, will keep prices elevated in Asia and require importers in Nepal, Bangladesh and Sri Lanka to find other sources to fulfil their demand.