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

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Rate last updated: 02/01/2014 11:15:04 AM

Important Business News Extracts February 13, 2020

Surplus funds in banks hit Tk 1.0tn

Banks’ excess liquidity has crossed the Tk 1.0 trillion-mark again, fuelled by lower private credit growth in a sign that the investment situation has cooled. Surplus cash surged by nearly 19 per cent to Tk 1,056.46 billion as on December 31, 2019 from Tk 889.50 billion three months before, according to the central bank’s latest statistics. The amount was Tk 1,119.10 billion as on March 30, 2017. The country’s banking sector has been saddled with excessive funds since the second quarter of 2019 as the private sector credit growth was slower, according to bankers. The amount rose to Tk 833.30 billion in the April-June period of the last calendar year from Tk 638.80 billion in Q1 of 2019. It was Tk 774.80 billion as on December 31, 2017. More than 65 per cent of total liquid assets were invested in the government securities, known as unencumbered approved securities, until December 2019, which was 62.62 per cent in May last year, according to the central bank report on the liquidity position of banks. The sector’s credit growth fell to 9.83 per cent in December 2019 on a year-on-year basis from 13.20 per cent a year earlier, the central bank data shows. This growth was 3.37 percentage points lower than the central bank’s target of 13.20 per cent for the first half of fiscal year 2019-20. Meanwhile, outstanding loans with the private sector rose to Tk 10,531.51 billion in December from Tk 9,588.51 billion a year ago. It was Tk 10,358.15 billion in November 2019.

Source: https://today.thefinancialexpress.com.bd/first-page/surplus-funds-in-banks-hit-tk-10tn-again-1581530411

BD-Poland trade grows to $1.2b

Bilateral trade between Bangladesh and Poland reached $1.2 billion in the last fiscal year (2018-19), foreign secretary Masud Bin Momen said on Wednesday, expecting that both sides would work together to boost bilateral trade and investment. Poland’s Deputy Foreign Minister Marcin Przydacz led the Polish delegation while Mr Masud led the Bangladesh side. They reviewed the progress made in different areas of cooperation in the past and discussed the future course of cooperation. At the meeting, Bangladesh urged the Polish government to encourage Polish investors and entrepreneurs to invest in Bangladesh in Hi-Tech Parks and Specialized Economic Zones (SEZs). After the consultations, a Memorandum of Understanding (MoU) between the Ministry of Foreign Affairs of Bangladesh and the Ministry of Foreign Affairs of Poland was signed to hold such consultations on regular basis.

Source: https://today.thefinancialexpress.com.bd/last-page/bd-poland-trade-grows-to-12b-1581532298

Shepherd generates highest turnover

Ten most traded firms accounted for more than 26 per cent transactions on the Dhaka Stock Exchange. According to data available with the DSE, about 12.48 million shares of Shepherd Industries were traded, generating a turnover of Tk 308 million, which was 4.68 per cent of the day’s total turnover of Tk 6.57 billion. The company’s share closed at Tk 25.70, soaring 8.90 per cent over the previous day. The company’s earnings per share (EPS) in six months for July-December, 2019 stood at Tk 0.33 as against Tk 0.57 for the same period a year ago. The Shepherd Industries, which was listed on the DSE in 2017, disbursed 10 per cent stock dividend for the year ended on June 30, 2019. The company’s paid-up capital is Tk 1.50 billion and authorised capital is Tk 1.90 billion while the total number of securities is 150.28 million. The sponsor-directors own 51.48 per cent stake in the company, while institutional investors own 18.90 per cent, foreign investors 19.52 per cent and the general public 10.10 per cent as of December 31, 2019. Orion Infusion clinched the third spot, with shares worth Tk 185 million changing hands. The company’s share closed at Tk 69.60, soaring 9.26 per cent. Khulna Power emerged fourth with shares worth Tk 156 million changing hands. The power companies share price fell 0.19 per cent to Tk 52.40. Indo-Bangla Pharma notched the fifth spot, with shares worth Tk 151 million changing hands. Its share closed at Tk 23.40, remaining unchanged over the previous day. The turnover of ADN telecom was Tk 150 million. The company’s share price fell 2.92 per cent to close at Tk 46.50. Bangladesh Submarine Cable Company featured a turnover of Tk 134 million. The company’s price closed at Tk 100.40, falling 2.90 per cent. The turnover of SK Trims was Tk 123 million. The company’s share price rose 2.31 per cent to close at Tk 62.10 each.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/shepherd-generates-highest-turnover-1581529932

Uber launches ride sharing service in Cox’s Bazar

Uber, the world’s largest on-demand ride-sharing company, on Wednesday announced the launch of its services Cox’s Bazar, the resort town of Bangladesh. The information was revealed through a statement of Uber issued in Dhaka on Wednesday. Those who sign up as driver-partners will have opportunities to earn more money and flexibility to plan their work schedule. In 2019, riders from 76 countries had used Uber while visiting Bangladesh. We are excited to contribute to the potential of this new city and optimistic that citizens and tourists will give us a warm welcome. After Dhaka, Sylhet and Chattogram cities, Cox’s Bazar has become the fourth one in Bangladeshi to have Uber’s ride hailing services.

Source: https://today.thefinancialexpress.com.bd/trade-market/uber-launches-ride-sharing-service-in-coxs-bazar-1581533109

BRAC Bank achieves ISO certification

BRAC Bank has become the first ever Bangladeshi bank to have achieved an ISO certification for its standard of management of security operations. With this certification, known as ISO 18788:2015, BRAC Bank is now all set to ensure the highest security measures amidst the growing importance of cyber security in the financial sector. BRAC bank is also the first Bangladeshi bank that was certified with ISO 27001:2013 in recognition of its compliance with the highest standards in developing and implementing an Information Security Management System to protect customers’ data and maintain the security of stakeholders’ information assets in 2017.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/brac-bank-achieves-iso-certification-1581529864

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DSEX4,480.83049↑ 9.31651↑ 0.21 %
↑ 275.08↑0.94 %
FTSE1007,534.37↑ 34.93↑ 0.47 %
Nikkei 22523,875.75↑ 14.54↑ 0.06 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 51.38↑ 0.21↑ 0.41 %
Crude Oil (Brent)$ 55.89↑ 0.10↑ 0.18 %
Gold Spot$ 1,573.06↑ 7.00↑ 0.45 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 83.3076
GBP 1BDT 108.009
EUR 1BDT 90.8058
INR 1BDT 1.16829