Turnover at Dhaka bourse drops 15pc

The Dhaka bourse witnessed a 15 per cent fall in turnover yesterday because of thin participation of institutional investors. Turnover, one of the important indicators of the stock market, hit Tk 786 crore yesterday, down from Tk 928 crore on the previous trading day.Robi Axiata, the second-largest mobile phone operator in Bangladesh, would raise Tk 523 crore. Of the amount, Tk 387 crore would be raised from the stock investors and the rest from its employees. The IPO subscription would start on November 17.The Bangladesh Bank allowed banks to form a fund of Tk 200 crore to invest in the stock market by taking loans from the banking regulator through a repurchase agreement.The DSEX, the benchmark index of the DSE, shed 18.36 points, or 0.37 per cent to 4,923.65 yesterday.Associated Oxygen topped the gainers’ list with a 9.96 per cent rise, followed by SEML Lecture Equity Management Fund, SEML IBBL Shariah Fund, CAPM BDBL Mutual Fund one and National Feed Mill. Global Insurance gave up the most as it lost 8.59 per cent yesterday, followed by Republic Insurance, C&A Textile, Shyampur Sugar and Imam Button. The port city bourse also fell: it declined 27.42 points, or 0.32 per cent, to 8,509.04. Of the 253 shares, 87 rose, 116 dropped and 50 remained unchanged.

Source: https://www.thedailystar.net/business/news/turnover-dhaka-bourse-drops-15pc-1991737

Bangladesh adds 3.3cr internet users in a decade

The number of internet users in Bangladesh expanded by 3.3 crore between 2010 and 2019, bringing another 20 per cent of the population online, according to a recent report. Over the same period, India added 36.1 crore new users, or 26 per cent of its population and Pakistan added 4.8 crore new users, or 22 per cent of its population.The number of internet users in Bangladesh reached 11.11 crore in September, a 13 per cent increase compared to the same period in 2019, data from the Bangladesh Telecommunication Regulatory Commission showed.As per forecasts, the combined number of 5G connections in the 11 countries will reach 310 million by 2025. Besides, many countries in the Asia Pacific have plans to facilitate Industry 4.0 (the fourth industrial revolution) in their economies, as evinced by various government and industry responses to the survey, it added. Industry 4.0 refers to the introduction of cyber-physical systems, networks, IoT, big data, cloud storage, artificial intelligence and augmented reality. The fourth industrial revolution is expected to have a much wider impact on society than its predecessors. And the majority of respondents to the survey expect the key objectives of Industry 4.0 to be delivered by 2025.As per the GSMA report, Pakistan, with a projected 4 per cent 5G penetration by 2025, is positioned at the lowest rank. India ranked above Bangladesh with 7 per cent, Thailand 13 per cent and Malaysia 30 per cent. South Korea will lead the region in the use of 5G services with 67 per cent, followed by Australia (54 per cent) Japan (47 per cent) and Singapore (36 per cent). The BTRC formed a committee last year to prepare a draft guideline on 5G services and initially planned to launch the facility by 2023. However, the Covid-19 pandemic has forced all preparations to come to a halt for several months.State-owned Teletalk provides connectivity to the students of 42 public and 68 private universities, who are using the Bangladesh Research and Education Network platform run by the UGC.

Source: https://www.thedailystar.net/business/news/bangladesh-adds-33cr-internet-users-decade-1991761

Modhumoti Bank signed MoU with Mitu Properties

Modhumoti Bank Limited signed an MoU with Mitu Properties Limited recently at Modhumoti Mirpur Branch. Under the agreement, the employees of Mitu Properties will enjoy exclusive benefits of Payroll Services from Modhumoti Bank.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/modhumoti-bank-signed-mou-with-mitu-properties-1604854504

JibanBima partners with Agrani Bank

JibanBima Corporation (JBC), the lone state-run life insurer, signed an agreement with the state-owned Agrani Bank for the implementation of JBC’s IT-based central fund management system.Under the agreement, clients of the JBC can now deposit their premiums to the insurer’s bank accounts from anywhere through Agrani Bank branches, agents and digital services. The life insurer also began arrangements to collect insurance premiums from the clients’ bank accounts through Bangladesh Electronic Fund Transfer Network (BEFTN).The transaction system automation will help the insurer bring down the number of its bank accounts to only five or seven from 700 at present across the country. The JibanBima Corporation started its journey in 1973 with assets and liabilities worth Tk 150.70 million of 37 now-defunct life insurance companies which operated here before independence.

Source: https://today.thefinancialexpress.com.bd/trade-market/jiban-bima-partners-with-agrani-bank-1604857904

NRB Global Bank opened six Islami banking sub-branches

NRB Global Bank opened six Islami banking sub-branches on Sunday. They are Morfala Bazar Sub-Branch, Hathazari Sub-Branch, and Jute Pukur Sub-Branch at Chittagong, Kadamtoal Bazar Sub-Branch at Satkhira, Isapur Bazar Sub-Branch at Narayanganj, and Baunia-Badaldi Sub-Branch at Dhaka.

Source: https://today.thefinancialexpress.com.bd/trade-market/nrb-global-bank-opened-six-islami-banking-sub-branches-1604858001