Economy posts blistering growth in FY21
Despite the second wave of the coronavirus pandemic, Bangladesh’s economy pulled off a stunning 6.94 per cent growth in the last fiscal year, way higher than the initial estimate.The final figure is up 1.51 percentage points compared to the provisional estimate, thanks to the rebound of the industrial sector, especially the cottage, small, medium and large industries, according to the Bangladesh Bureau of Statistics (BBS).The provisional estimate was 5.43 per cent. The World Bank (WB) had projected that Bangladesh would have a GDP growth of 5 per cent by the end of FY2021. The International Monetary Fund (IMF) said it would be 4.6 per cent and the Asian Development Bank (ADB) put the figure at 5.5 per cent.In FY19-20, the industrial sector grew 3.61 per cent. It rose to 10.29 per cent in FY21.The agriculture sector grew 3.17 per cent, up from 2.37 per cent a year ago.
Premier Cement to raise Tk 310.75cr
Premier Cement Mills yesterday received permission from the stock market regulator to raise Tk 310.75 crore by issuing preference shares.The Bangladesh Securities and Exchange Commission (BSEC) gave the approval.Of it, preference shares of around Tk 235.75 crore of tenures of five years will be issued to potential investors.The remaining preference share of around Tk 75 crore will have tenures of 12 years and issued to sponsors or directors.The dividend rate of the preference shares that would be issued to investors through private placement ranges from 6.25 per cent to 7.75 per cent.
Stocks rebound after single-day break
Stocks backed on the gaining streak Tuesday, after a single-day break, as investors put fresh bets on banking and financial institutions issues ahead of annual earnings and dividend declarations.DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 20.98 points or 0.29 per cent to settle at 7,072, after losing 12.50 points in the previous day.Two other indices also posted modest gain. The DS30 index, comprising blue chips, advanced 2.60 points to finish at 2,610 and the DSE Shariah Index gained 1.82 points to close at 1,511.Turnover, the most important indicator of the market, stood at Tk 14.50 billion, which was 1.54 per cent higher than the previous day’s tally of Tk 14.28 billion.
Local and Global Stock Indices *
|Index Name||Close Value||Value Change||Percentage Change|
|FTSE100||$ 7,567.07||↓ 6.40||↓ 0.08 %|
|Nikkei 225||$ 27,595.50||↑318.76||↑1.17 %|
World Commodities *
|Commodity||Close Value||Value Change||Percentage Change|
|Crude Oil (WTI)||$ 89.66||↑0.30||↑0.34 %|
|Crude Oil (Brent)||$ 91.12||↑ 0.34||↑0.37 %|
|Gold Spot||$ 1,828.06||↑2.14||↑0.12%|
Major Currencies Exchange Rates Movement in Last Seven Days *
|USD 1||BDT 85.4750|
|GBP 1||BDT 116.4268|
|EUR 1||BDT 98.4098|
*CURRENCIES AND COMMODITIES ARE TAKEN FROM BLOOMBERG.<