Focus on digitization of business, e-commerce to propel economy

Speakers at a programme on Tuesday said businesses will have to be fully digitised and e-commerce-based for further development of the country’s economy. To achieve sustainable development goals (SDGs), the country’s heavy industry needs to adopt green technology to address climate change issues, they added. They also said development of small and medium enterprises (SMEs) and various innovations in the sector will be the key to macroeconomic success. The observations came at a discussion titled ‘Relevance of the National Mourning Day and Political Economy of Bangladesh (1952 to 2041)’. The programme was organised by the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) at the federation’s building in the city’s Motijheel. The size of the country’s economy was only US$8.0 billion in 1972, which reached around $280 billion recently. The former BB governor said agricultural production of the country has to be doubled by 2030 to achieve the SDGs. 3.7 million students are studying at universities currently while many of the European countries don’t even have such a big population. Comparing the Bangladesh’s economy with Pakistan, Mr Mannan said the country’s export market is now bigger than Pakistan as it is now $33 billion, compared to Pakistan’s $17 billion.

Source: http://today.thefinancialexpress.com.bd/trade-market/focus-on-digitisation-of-business-e-commerce-to-propel-economy-1535471530

United Power tops turnover chart of DSE

Top ten traded companies captured 30 per cent transaction of the Dhaka Stock Exchange (DSE) on Tuesday while United Power topping the list. Market insiders said investors were mostly active on United Power Generation & Distribution Company’s share ahead of the record date on September 06. The company recommended 90 per cent cash and 20 per cent stock dividend for the year ended on June 30, 2018. According to statistics available with the DSE, about 1.29 million shares of United Power were traded, generating a turnover of Tk 442 million, which was 7.22 per cent of the DSE’s total turnover. The DSE turnover stood at Tk 6.11 billion which was Tk 5.32 billion on the previous day. The share price of the power generation company hovered between Tk 336 and Tk 346.20, before closing at Tk 344.50 each, advancing 2.01 per cent over the previous day. United Power, which was listed on the DSE in 2015 under the book building method, disbursed 90 per cent cash and 10 per cent stock dividend in 2017. The company has also reported earnings per shares (EPS) of Tk 11.51, net asset value (NAV) per share of Tk 40.80 and net operating cash flow per share (NOCFPS) of Tk 10.81 for the year ended on June 30, 2018 as against Tk 10.46, Tk 37.47 and Tk 10 respectively for the same period of the previous year. The company’s paid-up capital is Tk 3.99 billion, authorised capital is Tk 8.0 billion and the total number of securities is 399.23 million. The turnover of International Leasing was Tk 156 million. The company’s share price gained 3.53 per cent to close at Tk 17.60 each. BBS Cables featured a turnover of Tk 148 million. Its share price fell 1.91 per cent to close at Tk 115.20 each. The turnover of IFAD Autos was Tk 138 million. The company’s share price closed at Tk 120.90 each, losing 1.87 per cent. The City Bank featured a turnover of Tk 131 million. The bank’s share price rose 3.46 per cent to close at Tk 35.80 each.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/united-power-tops-turnover-chart-of-dse-1535469444

BRTC to buy 300 more double-deckers under second Indian LoC

Bangladesh Road Transport Corporation (BRTC) will soon add 300 more double-decker buses to its fleet after importing those vehicles from India. The state-owned bus operator signed a Tk 2.39-billion contract with Ashok Leyland Limited on Tuesday to purchase the buses under second Indian Line of Credit (LoC). Under the first US$ 1.0-billion Indian LoC, BRTC completed procurement of 290 double-decker buses from Ashok Leyland in 2013. The BRTC chairman said each of the new buses will cost $ 86,500, and will have ramp to facilitate use of wheelchairs by the physically-challenged people. The Cabinet Committee on Government Purchase approved the bus procurement proposal with supplier’s credit on August 1. BRTC signed another contract with TATA on August 16 to procure 500 trucks and 100 non-airconditioned buses. BRTA now has over 400 double-decker buses in its fleet of 900 buses.

Source: https://thefinancialexpress.com.bd/trade/brtc-to-buy-300-more-double-deckers-under-second-indian-loc-1535514822