Turnover rises moderately on DSE

Dhaka bourse on Sunday closed flat amid choppy trading as investors were busy at both sides of the trading fence. On the day, turnover rose moderately on Dhaka Stock Exchange (DSE) following investors’ increased participations mainly observed in insurance sector. The insurers also dominated the day’s gainers chart as out of top ten gainers nine were from insurance sector. Share prices of those nine companies rose ranging from 9.11 per cent to 10 per cent per share. The market opened the session with a sharp rise and the DSE broad DSEX crossed 4900-point mark within half an hour.Of the sectors which witnessed price appreciation, general insurance advanced 4.0 per cent, followed by financial institutions 2.2 per cent, pharmaceuticals & chemicals 0.6 per cent and bank 0.3 per cent. Of the sectors which witnessed price correction, textile declined 1.9 per cent, telecommunication 1.5 per cent, engineering 0.8 per cent, fuel & power 0.56 per cent and mutual fund 2.4 per cent. Investors’ concentration was concentrated mostly on general insurance sector which grabbed 35 per cent of the market turnover followed by pharmaceuticals & chemicals 9.9 per cent, engineering 7.9 per cent and bank 6.2 per cent. Bangladesh Submarine Cable Company topped the turnover chart with a value Tk 234 million followed by Continental Insurance Tk 216 million, Asia Pacific General Insurance Company Tk 211 million, Beximco Pharmaceuticals Tk 183 million and Bangladesh General Insurance Company Tk 160 million. Nitol Insurance Company was the number one gainer with a rise of 10 per cent prTk 5.3 to close at Tk 58.30 each. Keya Cosmetics was the worst loser after declining 6.67 per cent to close at Tk 7.0 each. On Chittagong Stock Exchange (CSE), the benchmark index CASPI rose marginally and settled at 13933.55 points with a riseof 0.36 per cent or 50.16 points. Of 263 issues traded, 93 advanced, 120 declined and remaining 50 were unchanged.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/turnover-rises-moderately-on-dse-1603036006

87 entities get BASIS Outsourcing Award

Some 87 entities were recognised at ‘6th BASIS Outsourcing Award 2020’ for their outstanding performance in outsourcing industry in last one year. The awards were given in five categories-seven each in outsourcing organisation and start-up categories, 16 in export excellence, 54 at district level and three in women category, said a press release. Bangladesh Association of Software and Information Services (BASIS) organised the outsourcing award ceremony at a hotel in the city’s Kurmitola area on Saturday evening after a five-year break.The BASIS president said, “Currently, Bangladesh ranks second in the world in readymade garment (RMG) export but due to the fourth industrial revolution, cheap labour will no longer be an advantage for us.” Relying on just RMG export will not be enough, he said. MrKabir also noted that BASIS Outsourcing Award-2020 was organised to encourage individuals and organisations in achieving the government’s target of earning US$5.0 billion by 2025.

Source: https://today.thefinancialexpress.com.bd/trade-market/87-entities-get-basis-outsourcing-award-1603034766

SIBL holds Q3 Business Conference

Social Islami Bank Limited (SIBL) arranged a two-day long Business Conference of the 3rd Quarter of 2020 to evaluate the business position of the Bank through virtual platform recently. Mr. Quazi Osman Ali, Managing Director and CEO of the Bank, was present in the programme as the Chief Guest and inaugurated the conference. Abu Naser Chowdhury, Md. SirajulHoque and Md. ShamsulHoque, Deputy Managing Directors, and Mr. Abdul Hannan Khan, Company Secretary, Mr. KaziObaidul Al- Faruk, Head of HRD were also present in the programme.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/sibl-holds-q3-business-confce-1603036059

IBBL wins two VISA awards

Islami Bank Bangladesh Limited has won the ‘Excellence in Product Innovation’ and ‘Excellence in Prepaid Card Business’ awards conferred by VISA, a global payment service provider. These two awards are given in recognition of instant virtual VISA card generation and maximum transactions through this card through Cellfin App of IBBL. VISA awarded IBBL on the basis of business performance from July 2019 to June 2020 among its partner organizations. The award was announced at the ‘VISA Leadership Conclave’ held on October 15 in the digital platform.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/ibbl-wins-two-visa-awards-1603036250