Mutual fund earnings fly as capital market rebounds
The mutual fund industry is performing well and recommending impressive dividends for unitholders as the capital market bounced back in the last fiscal year. Market insiders say fund managers are seeing good earnings as they invested in undervalued stocks with high return potential. The trustee committee of NLI First Mutual Fund has recommended a 17.5% cash dividend for unitholders for the period ending on 30 June 2021. The fund reported earnings per unit of Tk3.34 while the loss per unit was Tk0.76 in the same period of 2020. In this period, SEML FBLSL Growth Fund, SEML Lecture Equity Management Fund, and Asian Tiger Sandhani Life Growth Fund each recommended a 15% cash dividend for their unitholders.
Marine Drive to widen to boost tourism, agriculture
The government is going to develop the Cox’s Bazar-Teknaf Marine Drive by increasing the width of a 32km stretch from 3.7m to 7.3m, an effort to boost the local economy by attracting tourists and agro investments. Besides, new bridges will be constructed on the road and its various defects will be repaired. Running through the world’s longest beach on one side and green hills on the other, the Marine Drive is playing a vital role in the local economy, including the tourism and agriculture sectors. However, various defects in the 80km road have been causing traffic congestions and accidents since its inauguration. The Road Transport and Highways Division has already sent a proposal to the Planning Commission for a Tk1,021.61 crore project titled “Cox’s Bazar-Teknaf Marine Drive Road Widening” to develop a 32km stretch of the road in the first phase.It has also asked for Tk28.75 crore for land filling, Tk9.65 crore for different road-related services, Tk28.35 crore for geotextile, Tk58 crore for retaining walls, and Tk64.80 crore for tetrapods.
Marico Bangladesh Limited has recently deposited Tk 22.0 million to the Bangladesh Labour Welfare
Marico Bangladesh Limited has recently deposited Tk 22.0 million to the Bangladesh Labour Welfare Foundation Fund under the Ministry of Labor and Employment. The cheque was handed over to State Minister for Labor and Employment Begum MonnujanSufian by the representatives of the Workers Profit Participation Trust Fund.
Local and Global Stock Indices *
|Index Name||Close Value||Value Change||Percentage Change|
|Nikkei 225||$ 27,641.14||↓101.15 ||↓0.36%|
World Commodities *
|Commodity||Close Value||Value Change||Percentage Change|
|Crude Oil (WTI)||$ 68.74||↑1.32||↑1.96 %|
|Crude Oil (Brent)||$ 72.70||↑1.63||↑2.29 %|
|Gold Spot||$ 1,817.58||↑25.15||↑1.40 %|
Major Currencies Exchange Rates Movement in Last Seven Days *
|USD 1||BDT 85.2000|
|GBP 1||BDT 117.2608|
|EUR 1||BDT 100.3145|
*CURRENCIES AND COMMODITIES ARE TAKEN FROM BLOOMBERG.<