DSEX dips below 5,000-mark on selling binge
Stocks extended the losing streak for the fourth straight session Tuesday, with key index of the major bourse falling below 5,000-mark, as investors continued booking profits on major sectors issues. DSEX, the prime index of the Dhaka Stock Exchange (DSE), settled at 4,970, shedding 42.01 points or 0.83 per cent over the previous day. The core index lost more than 146 points or 2.85 per cent in the past four consecutive sessions after a big jump in recent weeks. The benchmark index surged a cumulative 1,144 points or 29 per cent in the past 13 consecutive weeks. The DSE market-cap also added Tk 752 billion during the period under review.According to the order, merchant banks or brokerage firms will now be able to provide margin loan to their clients at a maximum limit of 1:1 when the DSEX will be below 4,000 points. Top negative index contributors of the market were British American Tobacco, Bangladesh Submarine Cable, Berger Paints, Beacon Pharma and Beximco, according to data from amarstock.com, a stock market data analyst. Two other indices also ended lower. The DS30 index, comprising blue chips, lost 12.61 points to finish at 1,714 and the DSE Shariah Index slumped 11.37 points to close at 1,126.
‘Britain makes trade deal with EU more difficult’
Britain is making it more difficult to reach a basic trade deal with the European Union by pushing through domestic legislation that undermines its international withdrawal treaty with the EU, Irish foreign Minister Simon Coveney said on Tuesday. Speaking to reporters after EU ministers were briefed by the EU’s chief Brexit negotiator Michel Barnier on progress in talks, Coveney said many EU foreign ministers were starting to think that Britain did not want a deal with the EU.The government of Prime Minister Boris Johnson is pushing a bill, expected to pass through the lower chamber of parliament next week that would break agreements Britain made in the withdrawal treaty.
National Housing Finance and Investments re-elects Chairman and Vice Chairman
The Board of Directors of National Housing Finance and Investments Limited in its 219th meeting held recently elected Mahbubur Rahman as Chairman and Syed M. AltafHussain as vice chairman of the company for next 2 years.Mr. Mahbubur Rahman is the President of International Chamber of Commerce (ICC) – Bangladesh, The world business organization. He is also Chairman and CEO of ETBL Holdings Limited and Founder Chairman, Eastland Insurance Co. Ltd.Syed M. AltafHussain has been elected as Vice-Chairman of National Housing Finance and Investments Limited at its 219th Meeting of the Board recently for 2 years.
Apex Footwear recommends 25pc cash dividend
The board of directors of Apex Footwear Ltd, a pioneer in the manufacture and export of leather footwear from Bangladesh, has recommended 25 per cent cash dividend for the year ended on June 30, 2020.The EGM and annual general meeting (AGM) will be held on November 12 at 11:00am and 11:15am respectively using the digital platform. The record date for EGM and AGM is on October 12. The leading shoemaking brand in Bangladesh has also reported earnings per share (EPS) of Tk 5.62, net asset value (NAV) per share of Tk 249.95 and net operating cash flow per share (NOCFPS) of Tk 144.14 for the year ended on June 30, 2020 as against Tk 10.91, Tk 249.83 and Tk 86.29 respectively for the same period of the previous year.
MBL signed MoU with PrimaDollar, UK
Mercantile Bank Limited (MBL) signed a Memorandum of Understanding (MoU) with PrimaDollar, UK to facilitate Fintech-based export factoring services to the customers of MBL exporting under Open Account credit terms on Monday.Under Export Factoring, exporters of MBL may be eligible to receive up to 95 per cent of the deferred value of the goods on sight basis from PrimaDollar, UK.