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. The government will not interfere in fixing the selling prices of the re-gasified LNG imported by the private parties, the policy spells out. The private sector LNG importers would also be allowed to use the imported re-gasified LNG at their own power plants and industrial units and for other commercial purposes. They would also have the liberty to supply the re-gasified LNG to others’ power plants, industrial units and commercial entities.
Play proactive role in attracting FDI: Foreign Minister
Bangladesh missions abroad should act as catalysts to promote the economic growth through luring foreign direct investment and expanding trade, Foreign Minister Dr AK Abdul Momen said on Tuesday. While addressing a seminar titled “promoting trade and investment”, the minister also urged the officials of the country’s foreign missions to gear up economic diplomacy. The Foreign Ministry, Bangladesh Investment Development Authority and Bangladesh Export Processing Zones Authority jointly organised the seminar for their senior officials. Dr Momen said, “We have achieved 16 per cent growth in FDI. But to attain the desired growth to be a middle-income country, this is not enough. So, foreign missions should play a proactive role in attracting FDI.”
MFS, courier service providers to be cautious about Money Laundering
Mobile financial service (MFS) providers and courier Companies have been asked to take steps to control money laundering and transactions of illegally earned money. They have been told to strictly follow the provisions relating to KYC (know your customer) so that criminals could be detected. To stop transportation of drugs, arms and ammunitions, and other illegal goods, the couriers have been asked to set up scanners at their offices for detection. The directives were given at a meeting at the secretariat on Tuesday with financial institutions division senior secretary Ashadul Islam in the chair. Attended by stakeholders and government officials concerned, the meeting also discussed preserving signatures of money senders, receivers and agents in ledger books, and giving receipt of each transaction.
Workers to get paid digitally soon: BGMEA
Garment factory owners will introduce digital salary disbursement to ensure female workers get full ownership of their earnings and more transparency in payment, said Rubana Huq, President of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA). Female workers do not always see their hard-earned money come to them; they are either extorted of the sum or their guardians, which mostly happens to be their husbands or brothers, gets hold of it. The digitised payment will start on a pilot basis ahead of Eid-ul-Azha, said Huq at a discussion styled “creating the business case of MFS based wage digitisation in the garment sector”, organised by International Finance Corporation (IFC).
Gold fair fetches Tk 175cr in Tax
Jewellers paid about Tk 175 crore in tax to legalise their undeclared stock of gold at the three-day gold fair that wrapped up yesterday. The fair, which was the first of its kind, saw more than 1,200 jewellers and traders legalise their gold, diamond and silver upon payment of a certain amount of tax, according to Bangladesh Jewellers Samity (Bajus) General Secretary Dilip Kumar Agarwala. It was not possible to ascertain the volume of gold and other metals declared as the tax on gold, diamond and silver varies, he said at the press briefing after the closing ceremony. The National Board of Revenue (NBR) organised the three-day event at the InterContinental Hotel in Dhaka. Similar fairs were also held at the other divisional cities as part of the tax administration’s initiative to allow jewellers and traders to disclose the stock of precious metals to taxmen by June 30.
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.
Esquire ICL Apparel Fund approved
The Bangladesh Securities and Exchange Commission has approved an open-ended mutual fund named Esquire ICL Apparel Fund. The primary target of the fund is Tk 25 crore. The sponsor of the fund, Esquire Knit Composite, will provide Tk 10 crore and the rest will be available for general investors.
3 Bangladeshis arrested in Kolkata on terror charge
Kolkata police yesterday arrested four people, including three Bangladeshis, from Sealdah Railway Station area for their alleged involvement in militant activities. The Bangladeshis are Ziaur Rahman alias Mohsin alias Jahir Abbas from Chapainawabganj, Mamunur Rahasid from Rangpur and Shahin Alam from Rajshahi. The other arrestee is Rabiul Islam from Mitrapur area of Burdwan in West Bengal.
Local and Global Stock Indices *
|Index Name||Close Value||Value Change||Percentage Change|
|Nikkei 225|| 21,092.00||↓101.81||↓0.48%|
World Commodities *
|Commodity||Close Value||Value Change||Percentage Change|
|Crude Oil (WTI)||$ 58.84||↑1.01||↑1.75%|
|Crude Oil (Brent)||$ 65.76||↑0.71||↑1.09%|
|Gold Spot|| $1,411.52|| ↓11.92||↓0.84%|
Major Currencies Exchange Rates Movement in Last Seven Days *
|USD 1||BDT 82.9032|
|GBP 1||BDT 105.5080|
|EUR 1||BDT 94.3906|
|INR 1||BDT 1.1938|
*CURRENCIES AND COMMODITIES ARE TAKEN FROM BLOOMBERG.<