Daily News Flash

DSEX 5,441.76 1.06% Gold (Ounce) $1,270.70 CSCX 10,156.21 1.13% Oil (Barrel) $75.55 Daily News Flash 24th June 2018 Sell Sell Dollar 83.50 84.70 GBP 107.45 111.45 Sell Sell Euro 95.25 99.25 Rupee 1.20 1.30 Table of Contents Macro Economy ............................................................................................................ 1 GOVT TO IMPOSE INCOME TAX ON SHARE TRANSFER ABROAD ......................................................................... 1 GOVT MAY FACE QUESTIONS OVER SLOW REMEDIATION OF RMG FACTORIES .......................................... 2 EU SLAPS TARIFFS ON US AS TRADE WAR ERUPTS .................................................................................................... 2 GOVT EXTENDS RMG FACTORY REMEDIATION DEADLINE TO DEC ................................................................... 4 BANGLADESHI PRODUCTS BECOMING POPULAR IN CHINA ................................................................................... 4 SOLAR POWER CAPACITY REACHES 218MW ................................................................................................................ 5 HIGHER PENALTY FOR NONCOMPLIANCE .................................................................................................................... 6 APPAREL EXPORTS TO ASIAN MARKETS ON THE RISE ............................................................................................ 8 BB BRINGS TERM REPO TO EASE LIQUIDITY CRISIS ................................................................................................. 9 INCREASE TAX ON TOBACCO PRODUCTS: ANTI-TOBACCO PLATFORMS ......................................................... 9 CORPORATE TAX CUT ONLY FOR FINANCIAL SECTOR DISAPPOINTING: MCCI .......................................... 10 VAT ON INTERNET USE TO GO DOWN............................................................................................................................ 11 MUHITH STEPS IN TO CHEER UP STOCKS .................................................................................................................... 12 NEW NBR MOVE RAISES CONCERNS .............................................................................................................................. 13 NBR SEEKS AIR TRAVELLERS' INFO ............................................................................................................................... 13 DOLLAR SCALES 11-MONTH PEAK .................................................................................................................................. 14 BPDB MULLS BULK POWER TARIFF HIKE .................................................................................................................... 15 ALTERNATIVE INVESTMENT FACES UNCERTAINTY ............................................................................................... 15 FRENCH FIRM TO FINALISE DESIGN NEXT MONTH ................................................................................................. 16 এবারও অ쇍জন হয়নন লবণ উৎপাদননর লক্ষ্যমাত্রা ............................................................................................................................... 17 নিন বছনর ৪৩৩ ক া綿 ডলার কদনব এনডনব........................................................................................................................................ 17 নবনদনি ঋণ ছাড় কবনড়নছ ৭৭% ....................................................................................................................................................... 18 ঋণ ার্জক্রম বাড়ানি চায় নবনি ..................................................................................................................................................... 19 বড় পনরবিজন ছাড়াই পাি হনে বান쇍ট .............................................................................................................................................. 20 জ্বালানন কিনলর উনতালন বাড়ানি এ মি চু নিভু ি কদি巁নলা ......................................................................................................... 21 বান쇍নট আয়-বযয় িমন্বনয় ঘাটনি রনয়নছ: আইনিএনব ....................................................................................................................... 21 নিক্ষ্া-স্বানযয িবনচনয় ম বযয় নর বা廬লানদি ................................................................................................................................ 22 Bank and NBFIs ........................................................................................................... 23 BANKS HAVE TO CUT RATE TO ENJOY REDUCED CORPORATE TAX FACILITY ........................................... 23 BB RELAXES BANKS’ GENERAL PROVISIONING ........................................................................................................ 25 BB ASKS BANKS TO IMPLEMENT INTEREST CUT DECISION ................................................................................. 25 10 BANKS FACE CAPITAL SHORTFALL OF TK 23,363CR ........................................................................................... 26 MTB GETS $20M TERM LOAN FROM NORFUND .......................................................................................................... 26 HIGHER SALES OF SAVINGS TOOLS DON'T AFFECT BANK DEPOSITS .............................................................. 27 CENTRAL BANK ASKS NBFIS TO RATIONALISE DEPOSIT RATES ........................................................................ 28 রনপানরট র মার িুনবধা কিৌভাগ্যবিি কপনয়নছ বযা廬 .............................................................................................................. 29 Capital Market Specific................................................................................................ 29 DHAKA STOCKS SEE WEEKLY GAINS ON BANKS’ RATE CUT MOVE ................................................................. 29 FUND RAISING THRU IPOS RISES BY 38.78PC IN FY18 ............................................................................................... 30 BLEAK PROSPECT FOR KPM .............................................................................................................................................. 31 BSEC FORMS BODY TO PROBE 'UNUSUAL' PRICE HIKE OF STOCKS.................................................................. 32 NEWS ON INTEREST RATE CUT BREATHES LIFE INTO STOCKS .......................................................................... 33 UNITED POWER NOW FOURTH LARGEST MARKET CAP CO ................................................................................. 34 FAR EAST KNITTING SEES STEADY GROWTH IN LAST FIVE YEARS .................................................................. 35 কর ডজ িনবজাচ্চ দনর ২৫ কিয়ার .......................................................................................................................................................... 36 ডিএসই’র ম োবোইল অ্যোপে মলনপেপন করপে প্রোয় ৩১ হোজোর ডবডনপয়োগকোরী ...................................................................... 37 সরকোপরর চোে ডবএডব’র ম োষণোয় ে ুঁডজবোজোপর স্বডি ................................................................................................................. 37 মেয়োরপহোল্ডোরপের স রোয় যো আপে নত ন করপেোপরট গভন্যোন্স গোইিলোইপন ...................................................................... 38 িমিযাগ্রস্ত ক াম্পাননর কিয়ানরর অস্বাভানব দরবৃনি নননয় উনেগ্ ...................................................................................................... 39 পনিঙ্গায় ১.৪৭ এ র 쇍নম ন ননব এমন쇍এল নবনড ............................................................................................................................. 39 নভএফএি কেড ডানয়廬নয়র চা女দা গ্রহণ �쇁 আ쇍 ............................................................................................................................... 40 নম綿র মাধযনম ননধজানরি হনব ক াম্পাননর পনরচাল ও িীর্জ ননবজাহীনদর কর্াগ্যিা ............................................................................... 40 মািজ বযা廬 নিন উনর綿ন쇍র মজ াণ্ড খনিনয় কদখনি নম綿 গ্ঠন................................................................................................... 41 ’৯৬ কিয়ার ক নলঙ্কানর মামলার রায় আ쇍 ....................................................................................................................................... 42 িপ্তাহ쇍ুনড় ব্লন ২৩৫ ক া綿 টা ার কলননদন ................................................................................................................................... 42 Daily News Flash Sunday, June 24, 2018 Macro Economy GOVT TO IMPOSE INCOME TAX ON SHARE TRANSFER ABROAD The proposed national budget for the upcoming 2018-2019 financial year has created an opportunity for the National Board of Revenue to impose income tax on transfer of shares of foreign companies having subsidiary in Bangladesh. Officials said that the proposed provision would establish taxing rights of the NBR over various forms of share transfer of a foreign company if it has a subsidiary or operations in any form in Bangladesh. The NBR will now be able to claim income tax proportionately on gains derived through share transfer of the parent company taking place abroad, officials said. Finance minister AMA Muhith in the Finance Bill 2018 placed before the parliament on June 7 proposed inclusion of a provision in the Income Tax Ordinance 1984 in this connection. The proposed provision says, ‘The transfer of any share in a company that is not a resident of Bangladesh shall be deemed to be the transfer of an asset situated in Bangladesh to the extent that the value

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