Bangabandhu tunnel opens today to usher in new horizon in connectivity, industrialization
Bangabandhu tunnel is South Asia’s first underwater expressway tunnel and a new era in communication in Bangladesh. The tunnel enhances connectivity while keeping the Karnaphuli river free of any bridge structure, linking the Asian Highway, Ramgargh land port, and Matarbari Deep Sea Port. This project is expected to catalyse increased local and foreign investment in Chattogram’s southeastern region, enabling transit of goods among neighbouring countries like India, Nepal, and Myanmar. Around 100 companies have acquired real estate near the tunnel with some of them constructing factories and others are planning to take up projects reshaping South Chattogram. Big names like Akij Group, Four H Group, Diamond Cement, S Alam Group, and Partex Group have secured real estate for new factories in Karnaphuli and Anwara upazilas. The Unitex Group is investing Tk400 crore in a chemical factory expected to create 500 jobs. Nearby, China is developing a vast 784-acre economic zone, and the Saad Musa group is establishing private economic zones about half a kilometre from that location.
Oil price falls over 1%
Oil slipped more than 1 percent on Monday as concern eased about the Israel-Hamas war affecting supply from the region and as investors adopted caution ahead of this week’s U.S. Federal Reserve meeting and other indications of global economic health. Crude had jumped 3 percent on Friday after Israel stepped up ground incursions into Gaza, stoking worries the conflict could expand in a region that accounts for a third of global oil output. However, that concern was fading on Monday. Brent crude futures dropped 95 cents, or 1.1 percent, to $89.53 a barrel by 1217 GMT, while U.S. West Texas Intermediate crude was down $1.12, or 1.3 percent, at $84.42.
LafargeHolcim profit jumps 54pc on higher sales revenue
LafargeHolcim registered a 58 per cent year-on-year growth in profit to Tk 5.21 billion for January-September this year. The profit growth was backed by a 55 per cent growth in operating profit to Tk 6.63 billion in the nine months to September. During the period, the company’s sales volume stood at Tk 16.98 billion, 27 per cent up from the same period of the previous year. The earnings per share (EPS) jumped to Tk 4.49 for January-September, 2023 from Tk 2.85 for the same period last year. The company’s share price remained stuck at the floor price of Tk 64.80 till April 30 on the Dhaka Stock Exchange (DSE). Later, the company saw price movements along with other market leaders. After exhibiting ups and downs, the stock peaked at Tk 72 on October 15 and finally closed at Tk 71.40 on Monday.
Local and Global Stock Indices *
|Index Name||Close Value||Value Change||Percentage Change|
|↑ 511.37||↑ 1.58 %|
|FTSE100||$ 7,327.39||↑ 36.11||↑ 0.50 %|
|Nikkei 225||$ 30,845.51||↑ 148.55||↑ 0.48 %|
World Commodities *
|Commodity||Close Value||Value Change||Percentage Change|
|Crude Oil (WTI)||$ 82.54||↑ 0.23 ||↑ 0.28 %|
|Crude Oil (Brent)||$ 87.81 ||↑ 0.36||↑ 0.41 %|
|Gold Spot||$ 1,992.65||↓ 3.45||↓ 0.17 %|
Major Currencies Exchange Rates Movement in Last Seven Days *
|USD 1||BDT 110.5000||BDT 110.5000|
*World Commodities & Local and Global Stock Indices data are taken from bloomberg.com<
* Exchange Rates are taken from BB website, as on latest update.<