DSEX crosses 5,300-mark riding on financial stocks
Stocks maintained the upward trend for the sixth straight day on Wednesday as investors showed their buying binge on financial issues. Brokers said the market kept gaining following the news that the securities regulator relaxed the margin rules for another two years till December 31, 2020, which prompted investors to take position. DSEX, the prime index of the Dhaka Stock Exchange (DSE), settled at 5,349, advancing 49.08 points or 0.92 per cent over the previous day. The banking sector posted the highest gain, gaining 2.10 per cent, followed by financial institutions with 1.16 per cent, pharmaceuticals 0.70 per cent, food 0.33 per cent and telecommunication 0.16 per cent. Turnover, another important indicator of the market, also rose to Tk 3.88 billion, which was 8.68 per cent higher than the previous day’s Tk 3.57 billion. A total number of 102,387 trades were executed in the day’s trading session with trading volume of 112.87 million shares and mutual fund units.
Footwear companies to expand exports to European markets
The Ambassador of Switzerland to Bangladesh Dr. René Holenstein visited Picard Bangladesh – one of the members of Leathergoods and Footwear Manufacturers & Exporters Association of Bangladesh (LFMEAB) – in Savar recently. Swiss Ambassador expressed his appreciation to LFMEAB for hosting the delegation and briefly touched upon areas for development and cooperation that could strengthen the sector, which in turn would enable Bangladesh to further expand its exports to the European markets. The Ambassador toured the factory and had exchanges with the beneficiaries of an initiative supported by the Swiss Agency for Development and Cooperation (SDC) implemented through the Center of Excellence for Leather skill Bangladesh Limited (COEL). This initiative trained 10,000 apprentices in the Bangladeshi leather industry through on-job training. It further trained 6157 women and 6615 individuals under the ‘disadvantaged’ category.
BSEC approves IPO of Coppertech
The securities regulator has approved the IPO (initial public offering) proposal of Coppertech Industries. The company will raise a capital worth Tk 200 million offloading 20 million shares under the fixed price method. The approval came on Wednesday at a meeting held at the office of the Bangladesh Securities and Exchange Commission (BSEC). The company will utilise the IPO fund to purchase plant and machineries, repay bank loans, and construct building. As per the financial statement for the year ended on June 30, 2018 the company’s net asset value (NAV) per share, without revaluation, was Tk 12.06. The BSEC officials said the suspension period has been extended following a plea of the DSE Brokers Association of Bangladesh (DBA).
BR west zone implements 10 development projects
The west zone of Bangladesh Railway (BR) has implemented more than 10 development projects involving around Tk 77.83 billion to infuse dynamism into railway transportation along with boosting quality of services. We have implemented diversified infrastructural uplift works like construction of new railway line, station remodeling and launching of new trains on new routes during the last 10 years. The zone has been operating 133 trains including 40 intercity ones on different routes, including the capital Dhaka at present. Forty-seven locals or shuttle and forty-six commuter or mail trains are operating on various routes. Another 78.80 km new line from Ishwardi to Dhalarchar via Pabna has also been constructed. Under the project, 7.90-kilometre loop line along with 533-metre big bridges and 952-metre small bridges were constructed. The project has also provision of appointing 851 gatekeepers through outsourcing besides construction and reconstruction of 4,976.50 square-metres corner-rooms and repairing of 47,793 square-meters road surface attached to the level crossing.
Jamuna Bank Foundation opens kidney dialysis centre
The Kidney Dialysis Centre of Jamuna Bank Foundation commenced its operations recently. Jamuna Bank Foundation Chairman Al-Haj Nur Mohammed attended the programme in the capital as the chief guest. Jamuna Bank Dialysis Centre will provide treatment at a low price.
Hamid Group to set up economic zone in Mymensingh
Hamid Group, a Bangladeshi conglomerate, will set up an economic zone on 153 acres of land in Mymensingh, aiming to give an impetus to the country’s economy. The Bangladesh Economic Zones Authority (BEZA) issued a pre-qualification licence to Hamid Group to this end at a ceremony held at BEZA headquarters in the city on Wednesday. The proposed Hamid Economic Zone (HEZ) is expected to attract foreign investment in several sectors such as food processing, light engineering, furniture, cosmetics and leather footwear. The HEZ will be established at Trishal by the Dhaka-Mymensingh highway on 153 acres of land, which will be expanded to 300 acres in the future. Work on development of infrastructure in the private EZ will start in mid-2019 with an investment of Tk 13.44 billion. The proposed EZ will host 67 industrial units in various sectors, including readymade garments (RMG), chemical, ceramic products, plastic and leather footwear. The EZ is expected to create more than 38,000 employments. The BEZA will establish 100 EZs across the country to help Bangladesh achieve its goal of becoming a developed nation by 2041.
BB gets new executive director
Monsura Khatun has recently been promoted to executive director (statistics) at Bangladesh Bank. Prior to the promotion, she was a general manager of the credit information bureau, according to a statement. Monsura started her career as an assistant statistical officer at the statistics department of Bangladesh Bank in 1984.
Green Delta Insurance won first prize in Insurance Category in 18th ICAB National Awards once again
Green Delta Insurance has won the first prize in Insurance Category in the 18th ICAB National Awards once again for the best presented annual report of 2017. In addition, Green Delta Insurance has also won a prize in Corporate Governance Disclosures category. Farzana Chowdhury, Managing Director & CEO of Green Delta Insurance received the trophy of this award from the Chief Guest of the event, Finance Minister, Abul Maal Abdul Muhith MP, at the awarding ceremony held in the city recently
Local and Global Stock Indices *
|Index Name||Close Value||Value Change||Percentage Change|
World Commodities *
|Commodity||Close Value||Value Change||Percentage Change|
|Crude Oil (WTI)||$ 46.06||↓0.16||↓0.35%|
|Crude Oil (Brent)||$ 54.30||↓0.17||↓0.31%|
|Gold Spot||$ 1,269.69||↑2.55||↑0.20%|
Major Currencies Exchange Rates Movement in Last Seven Days *
|USD 1||BDT 83.7542|
|GBP 1||BDT 106.0077|
|EUR 1||BDT 95.3374|
|INR 1||BDT 1.1919|
*CURRENCIES AND COMMODITIES ARE TAKEN FROM BLOOMBERG.