Tax receipts from DSE jump 128pc in August

The government’s revenue earnings from Dhaka Stock Exchange (DSE) jumped 128 per cent month on month in August on the back of rising trading volume. Market operators said the revenue earnings from the prime bourse increased in step with growing turnover, as earnings are related to turnover. The government bagged revenue worth Tk 329 million in August 2022, up by a whopping 128 per cent, from Tk 144 million in July 2022, according to the DSE data. Of the total earnings in August, Tk 262 million came from the tax on the TREC (trading right entitlement certificate) holders’ commission, popularly known as brokerage commission, while Tk 67 million came from the tax on share sales by sponsor-directors and placement holders, the DSE statistics show. The government collected revenue worth Tk 473 million in the first two months of this fiscal year — July and August — which was Tk 791 million in the same month of the previous fiscal year. The daily turnover, an important gauge, jumped to Tk 12.75 billion on average in August 2022. The average daily turnover was Tk 6.46 billion in July 2022, according to the DSE data. DSEX, the prime index of the DSE, also rose 323 points or 5.27 per cent in August to close the month at 6,457. Meanwhile, the government’s revenue earnings from the DSE hit an 11-year high to Tk 2.91 billion in the outgoing Fiscal Year (FY) 2021-2022.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/tax-receipts-from-dse-jump-128pc-in-august-1662311372

KEPZ to get $6m investment in RMG, bag manufacturing industry

HZ Outdoor International Company Limited is going to set up a Garments and Bag manufacturing industry in Karnaphuli Export Processing Zone (KEPZ) with an investment of $6.03 million, reports BSS. An agreement to this effect was signed between Bangladesh Export Processing Zones Authority (BEPZA) and HZ Outdoor International Company Limited at BEPZA Complex in the city on Sunday. Member (Investment Promotion) of BEPZA Ali Reza Mazid and General Manager of Ms HZ Outdoor Roberto Haryono Go signed the agreement on behalf of their respective organisations. Fully foreign owned, this China-Taiwanese company will produce annually 3.08 million pcs of jackets, bags, shirt, pants, shorts, trousers, cap or hat, skirt, vest and shocks. A total of 2202 Bangladeshi nationals will get employment opportunity in this factory.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/kepz-to-get-6m-investment-in-rmg-bag-manufacturing-industry-1662311493

July trade deficit nearly $2b despite lower imports

The trade deficit in July – the first month of the current fiscal year – stood at $1.98 billion, despite lower imports owing to various conditions imposed by the central bank to keep the country’s foreign exchange reserves stable. The deficit is $628 million or a 46.41% increase from $1.35 billion in the same month of the last fiscal year.

Source: https://www.tbsnews.net/economy/july-trade-deficit-nearly-2b-despite-lower-imports-490186