TT-Clean: 77.1 | TK BC-Selling: 78.1
TK OD-Sight: 76.88 TK | TC-Selling: 78.1 TK
TT-Clean: 77.1 | TK BC-Selling: 78.1
TK OD-Sight: 76.88 TK | TC-Selling: 78.1 TK
TT-Clean: 77.1 | TK BC-Selling: 78.1
TK OD-Sight: 76.88 TK | TC-Selling: 78.1 TK
Rate last updated: 02/01/2014 11:15:04 AM
Stocks rebounded on Monday, snapping a three-day losing streak, as bargain hunters went on buying binge on large-cap issues. Market analysts said investors were active in the market throughout the session riding on the news of soaring foreign funds in the market. Net foreign fund in stocks turned around in January after remaining negative in the past three months as overseas investors were putting fresh funds after the elections. The market opened on positive note and the key index rose about 54 points in the mid-session. But rest of the session eroded half of the gains. At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), settled at 5,828, gaining 26.73 points or 0.46 per cent after losing 123 points in the past three days. According to EBL Securities, the optimistic investors opted to take fresh position on large-cap stocks, taking the market in the green territory after three days. IDLC Securities said top three positive index contributors were Power Grid Company, Titas Gas and GP- gaining 8.03 per cent, 5.18 per cent and 2.03 per cent respectively.
The Asian Development Bank (ADB) will provide US $50 million loan to promote microenterprise development in Bangladesh through a credit line to Palli Karma Sahayak Foundation (PKSF) and its partner microfinance institutions. In this regard, the loan agreement between the government and the Asian Development Bank will be signed on Wednesday at 10:00am at the NEC-2. Besides, another project agreement will also be signed by the ADB and PKSF, a development finance organisation. According to the ERD and the ADB, the project will help PKSF to develop a financing strategy and carry out institutional strengthening.
United Power dominated the Dhaka bourse’s turnover chart on Monday while top ten traded companies captured 28 per cent transaction. Market analysts said investors continued to show their buying appetite on United Power Generation & Distribution Company shares as the company posted modest earnings growth in July-December period. The company’s earnings per share (EPS) (separate) rose 15.18 per cent to Tk 5.31 for July-December. The EPS (separate) was Tk 4.61 for July-December, 2017. The company reported its consolidated EPS of Tk 7.69 for July-December, 2018. The financial performance of the United Power for July-December and October-December, 2018 were disclosed on the website of the Dhaka Stock Exchange (DSE) on Sunday.
Source: https://www.thedailystar.net/business/news/economic-zones-factories-get-uninterrupted-power-1697182
The state-run Petrobangla has planned to import around one-fourth of the country’s total LNG requirement from the spot LNG market to keep open the option of sourcing the fuel from diverse sources. As per the officials, the remaining volume of liquefied natural gas (LNG) would be procured from long-term suppliers. Petrobangla has already initiated deals with a total of 15 global suppliers to import LNG from the spot market. The companies include Mitsui, ENI, Total, AOT Energy, Woodside Petroleum Ltd., Chevron Corp, Gunvor and local Summit Group. Spot market is a market in which commodity is bought or sold for immediate delivery or delivery in the very near future. Spot market for the LNG was developed recently with the gluts of LNG output alongside the growth of emerging markets for LNG.
Source: http://today.thefinancialexpress.com.bd/last-page/move-to-import-lng-from-spot-market-1549301687
The government has issued a policy on digital commerce to facilitate the business in the country and make the system trustworthy to consumers by making digital transactions safer. The commerce ministry on January 31 issued a gazette notification containing the National Digital Commerce Policy-2018 which came into effect immediately. The policy bars the digital commerce business by a foreign company without forming a joint venture with a local company. The main goal of the policy is to establish digital commerce system in the country through using information and communication technology and to transform the trade and commerce into digital process for creating local and international markets.
Country’s trade deficit eased by 11.22 per cent in July-December in the current fiscal year (2018-19) compared with that in the same period of the last fiscal year (2017-18) amid slowdown in import growth and strong export earnings, especially from readymade garment sector. According to latest Bangladesh Bank data, country’s trade deficit stood at $7.66 billion in July-December of FY19, down from $8.62 billion in the same period of FY18. However, the country’s trade deficit in the first half of the current fiscal year still remained 69.84 per cent or $3.15 billion higher than the $4.51 billion trade deficit in July-December of FY17. Officials of the central bank said that the country’s trade situation in the first half of the current fiscal year was in inverse relation to the situation in the same period last fiscal year. In FY18, export growth was lenient against a strong import growth. On the other hand, export in the first half of FY19 showed strong growth while import growth was subdued.
Source: http://www.newagebd.net/article/63828/trade-deficit-drops-by-11pc-in-h1
Telenor Health recently signed a Memorandum of Understanding (MoU) with BRAC Bank Limited at the head office of BRAC Bank. Under the agreement, the TARA Loan customers of Retail and SME Segment and TARA Platinum credit card cardholders of BRAC Bank Limited will enjoy TARA -Tonic package, Telenor Health’s health care service and all benefits of TARA- Tonic Package with free subscription for 12 months. Offer is effective from January 1, 2019 onwards.
The government has made a move to make a new ‘bankers book evidence act’ which will accommodate all new banking products and services. The proposed act will replace the age-old British rule styled the ‘Bankers Book Act 1891’. After its formulation, courts may call records pertaining to the new products and services along with traditional books as legal documents. For example, the banking accounts maintenance tools will be admissible by courts as legal documents. The colonial act does not include modern banking products and services like automated teller machine, online payment, credit card and the like. As a result, any transaction through new devices cannot be meant for “official copy” for legal purposes to settle a case.
Bangladesh’s import expenses exceeded the US$30 billion mark in the first half (H1) of the current financial year (FY), 2018-19, on the back of higher imports of intermediate goods. The overall imports stood at $30.07 billion during July-December of FY ’19, up from $28.44 billion in the same period of the previous fiscal, according to official figures provided by the Customs Department of Bangladesh.
The country’s imports grew by nearly 11 per cent in the H1 of FY ’19, following a 48.98 per cent increase in the import of mostly construction materials as intermediate goods, the central bank said on the basis of letters of credit (LCs) settlement.
Source: http://today.thefinancialexpress.com.bd/last-page/import-expenses-exceed-30b-mark-in-h1-1549301730
Dealers of DBL Ceramics Limited posing for a photo during a ‘Dealer Meet’ programme at Dhaka Club in the capital recently with Chairman of DBL Group Abdul Wahed presiding. Chittagong Vikings players also seen with the dealers as the company is the platinum sponsor of the team in the current season of BPL
| Index Name | Close Value | Value Change | Percentage Change |
|---|---|---|---|
| DSEX | 5,828.07014 | ↑26.73832 | ↑0.46% |
| DJIA | 25,239.37 | ↑175.48 | ↑0.70% |
| FTSE100 | 7,034.13 | ↑13.91 | ↑0.20% |
| Nikkei 225 | 20,875.38 | ↓8.39 | ↓0.04% |
| Commodity | Close Value | Value Change | Percentage Change |
|---|---|---|---|
| Crude Oil (WTI) | $54.83 | ↑0.27 | ↑0.49% |
| Crude Oil (Brent) | $ 62.79 | ↑0.28 | ↑0.45% |
| Gold Spot | $1,314.39 | ↑2.14 | ↑0.16% |
| Exchange Rates | |
|---|---|
| USD 1 | BDT 83.8474 |
| GBP 1 | BDT 109.3202 |
| EUR 1 | BDT 95.8795 |
| INR 1 | BDT 1.1687 |
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