Chattogram customs revenue continues to grow on high imports

Chattogram Customs House posted 32.42% growth in revenue receipts year-on-year in December 2021, fetching over Tk4,831 crore. On the other hand, the year-on-year revenue growth of the country’s premier customs station in the first six months of the current 2021-22 fiscal year stood at about 26%. Official data show the port city customs house collected over Tk27,284 in revenue in the July-December period of the ongoing fiscal year, while the figure was Tk21,664 crore in the corresponding period a year ago. Chattogram customs collected a record Tk51,577 crore in revenue in the 2020-21 financial year, posting 23.23% year-on-year growth despite the pandemic. He expects that revenue receipts will cross the 60,000 crore mark this year, if the current trend in imports continues. The customs house has set a target of collecting Tk64,075 crore in revenue in the current financial year, while the target for the July-December period of the year was set at Tk31,570 crore. In 2021, a record amount of goods was imported through Chattogram port. The port hit a new record in container handling as well.  According to official data, Chattogram port posted 13.19% growth in container handling, 14.06% growth in cargo handling, and 12.63% growth in ship handling in 2021 when compared with the previous year.

 Source: https://www.tbsnews.net/bangladesh/ctg-customs-revenue-continues-grow-high-imports-359710

Stocks keep gaining, low-cap issues dominate gainers’ list

Stocks extended the rally for the fifth consecutive session on Wednesday as the buoyant investors continued to put bets on sector specific issues. Following the previous day’s flat ending, the market opened on a positive note and the upward trend sustained until the end of the session. Finally, DSEX, the prime index of Dhaka Stock Exchange (DSE), went up by 33.72 points or 0.48 per cent to settle at 7,089. The core index added about 93 points in the past five trading days. Two other indices also ended higher with the DSE 30 Index, comprising blue chips, rising 18.35 points to finish at 2,617 and the Shariah Index (DSES) gained 2.58 points to close at 1,509. The Chittagong Stock Exchange (CSE) also ended higher with the CSE All Share Price Index – CASPI -gaining 92 points to settle at 20,751 and the Selective Categories Index – CSCX-advancing 55 points to close at 12,465.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/stocks-keep-gaining-low-cap-issues-dominate-gainers-list-1642611483

Dhaka Bank arranges Tk 520cr for Chandpur Power

Dhaka Bank Ltd has arranged Tk 520 crore for Chandpur Power Generations Ltd (CPGL), a sister concern of Doreen Group. The bank got Tk 340 crore ($40 million) export credit agency term loan from two Germany-based banks and Tk 180 crore from syndicated term loan for the project. This project is a heavy fuel oil-fired IPP power plant of 115 megawatts in Chandpur, which is now under implementation. Dhaka Bank, who is acting as the ‘lead arranger and agent’ for this transaction, arranged a financial closure ceremony of the syndicated term loan for the project at Renaissance Dhaka Gulshan Hotel recently. The bank has provided ECA loan for the transaction under HERMES Cover arranged from the consortium of Commerzbank AG, and AKA Ausfuhrkredit-Gesellschaft mbH of Germany. Emranul Huq, managing director of Dhaka Bank, Md Obayed Ullah Al Masud, managing director of Rupali Bank, Ahmed Ehsanul Karim, managing director of the SABINCO, Md Quamruzzaman Khan, deputy managing director of Sonali Bank and related others attended the programme.

Source: https://www.thedailystar.net/business/economy/banks/news/dhaka-bank-arranges-tk-520cr-chandpur-power-2943036

 Prime Bank to offer nano loans

The global trend of loan availability at one’s fingertips is gaining grounds in Bangladesh, this time with Prime Bank preparing to launch PrimeAgrim app, an AI-based instant digital nano loan platform. Customers whose salaries are of a specific range can avail up to 30 per cent of that as a loan within a few seconds through the app, which makes use of machine learning and alternative credit scoring. This service is available 24/7. A pilot project has already been run since November 8, 2021 with garment maker Ananta through which over 1,000 loans have been disbursed among garment workers. bKash users can now apply for the loan, ranging from Tk 500 to Tk 20,000, through its app, receive it instantly and repay it in three equal monthly instalments. Dhaka Bank is also set to disburse small-scale personal loans between Tk 10,000 and Tk 3 lakh to account holders without asking for paper documents.

Source: https://www.thedailystar.net/business/economy/banks/news/prime-bank-offer-nano-loans-2943106