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 July 19, 2018

Stocks post marginal gain after volatile trading

Stocks posted a marginal gain Wednesday after volatile trading as investors opted for buying shares amid ongoing earnings declaration. The market opened on higher note and key index of the premier bourse gained about 23 points within first 30 minutes of trading. But, two-third of the initial gains wiped out amid selling pressure. At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 8.69 points or 0.16 per cent to settle at 5,334. The two other indices also edged higher. The DS30 index, comprising blue chips, advanced 5.60 points to finish at 1,899 and the DSE Shariah Index gained 6.10 points to close at 1,269. Turnover, another important indicator of the market, also rose and amounted to Tk 8.63 billion on the DSE, which was 10 per cent higher over the previous day’s Tk 7.86 billion. A total number of 182,742 trades were executed in the day’s trading session on the DSE with trading volume of 171.29 million securities. KDS Accessories continued to top the DSE turnover chart with 3.11 million shares worth Tk 324 million changing hands.


Junk shares reign over Dhaka bourse

In a curious development, five junk stocks were among the top ten gainers of the premier bourse yesterday. United Airways, listed as a junk share on the Dhaka Stock Exchange at present, topped the gainers’ chart yesterday, after its share price soared 10 percent. The other four junk shares are: Imam Button Industries (9.9 percent), Dulamia Cotton (9.78 percent), Sonargaon Textiles (9.70 percent) and Emerald Oil (9.24 percent). Stocks of the DSE gained yesterday amid improved participation of investors. DSEX, the benchmark index of the premier bourse, rose 8.69 points, or 0.16 percent, to finish the day at 5,334.18. Turnover, another important indicator of the market, also increased 9.86 percent to Tk 863.53 crore, with 17.12 crore shares and mutual fund units changing hands on the DSE. Among the major sectors engineering gained 1.09 percent, followed by textile (1.02 percent), pharma-ceuticals (0.81 percent), telecom (0.79 percent) and food and allied (0.45 percent). Conversely, bank and mutual funds declined 0.66 percent and 0.63 percent respectively. Chittagong stocks marginally rose yesterday with the bourse’s benchmark index, CSCX, increasing 2.95 points, or 0.10 percent, to finish the day at 9,908.29.

Source: https://www.thedailystar.net/business/economy/junk-shares-reign-over-dhaka-bourse-1607656

DSE delists two firms

Modern Dyeing & Screen Printing and Rahima Food Corporation have been delisted from the Dhaka Stock Exchange for remaining closed for more than three years. According to the Listing Regulations-2015, any listed security may be delisted if it has stopped commercial operations, productions or explorations for three consecutive years. Of the duo, Rahima Food Corporation is also listed on the Chittagong Stock Exchange (CSE). The Managing Director of the DSE, said if the delisted companies apply for trading in the over-the-counter market, the premier bourse will look into it. Market insiders said though some people would lose money because of the delisting of the two companies, the decision would turn out to be good for the capital market as people would be cautious about junk shares. Modern Dyeing & Screen Printing was listed on the DSE in 1988. It has Tk 1.36 crore as paid-up capital. Its share price soared 8.25 percent to Tk 326.90 yesterday. Rahima Food Corporation was listed on the bourse in 1997. It has Tk 20 crore as paid-up capital and its share price declined 2.3 percent to Tk 174.30 on the day.


NBR wing against bond licence for new factories

Customs Bond Commissionerate has recommended that the National Board of Revenue give no bond licence to new factories established in the Dhaka city corporations’ areas which are declared residential and commercial parts. CBC Dhaka, the largest bond office of the NBR, has also sought restriction on issuing bond licence to factories with 100 per cent ownership of foreign nationals to prevent misuse of duty-free import facility under bond licence. It recommended that the NBR put a condition of having 51 per cent ownership by local businesses for enjoying duty-free benefit on import of raw materials under bond licence. The NBR issues bonded warehouse licence, commonly known as bond licence, mainly to 100 per cent export-oriented industries offering duty-free raw materials import benefits with some conditions. The conditions include that manufacturers must export the finished goods produced using the raw materials and in no way they should sell the raw materials in the local market. The Industrial Policy-2010 also allows foreign investment in readymade garment and garment accessories sector. CBC has to consider the applications from foreign nationals for issuing bond licence if they have work permits and certificates issued by the investment promotion authority. Till now, some 6,000 export-oriented manufacturers obtained bond licence from the CBC Dhaka. Of which, around 4,000 bond licences currently remain active. There is another bond commissionerate in Chittagong under which the number of bond licensees is 1,368.

Source: http://www.newagebd.net/article/46347/nbr-wing-against-bond-licence-for-new-factories

Bangladesh tops as third fish producing country: FAO

The Food and Agriculture Organization (FAO) of the United Nations has recognised Bangladesh as the third top aquaculture fish producing country in the world after the People’s Republic of China and India. “As per the FAO’s latest report in 2018, Bangladesh is now holding 3rd position among the aquaculture fish producing countries in the world after China and India”. Citing the fisheries production in 2016-17, the fisheries minister said the country had produced 84,000 metric tonnes more fishes in 2016-17 fiscal year. Country’s fisheries production target was 4.05 million metric tonnes while the country had produced 4.134 million metric tonnes in 2016-17 fiscal year.

Source: https://thefinancialexpress.com.bd/national/bangladesh-tops-as-third-fish-producing-country-fao-1531911444

Paper industry on the upswing

The country’s paper industry has been on a positive growth trajectory as the demand for paper rising on both the local and international markets, insiders said. Only a few years back, imported paper met a large portion of domestic demand, but now the market share and the capacity of local manufacturers has grown significantly, they observed. The number of paper mills has now increased to over 80 from around 50 five years ago, while 15 or 20 more units are set to go into operation soon, sources said. The industry, which is churning out around 1.5 million tonnes of paper a year, has generated 1.0 million direct and indirect employments. Recently, many factories in China and some European countries faced closure due to higher production cost and environmental concerns, which opened up opportunities for a country like Bangladesh. Meanwhile, with more manufacturers entering the market, the export volume is increasing, sources said. According to data of the Export Promotion Bureau (EPB), the country earned US$75.76 million from export of paper in fiscal year (FY) 2017-18, up 33.22 per cent from the previous fiscal year. The figure for FY 2016-17 was $56.87 million. The sector fetched $42.16 million and $37.3 million in FY 2015-16 and 2014-15 respectively.

Source: https://thefinancialexpress.com.bd/trade/paper-industry-on-the-upswing-1531887884

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
Nikkei 22522,869.02↑171.66↑0.76%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$68.83↑1.09↑1.61%
Crude Oil (Brent)$71.74↓0.09↓0.13%
Gold Spot$1,227.51↓11.47↓0.93%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 84.00
GBP 1BDT 109.86
EUR 1BDT 97.87
INR 1BDT 1.22





Dear Valued Patrons,

At the very onset, let me express my heartiest gratitude for allowing us to serve you and I also wanted to reach out to you directly with an assurance that Dhaka Bank is fully equipped to support you during this difficult time.

Last couple of weeks ago we all were living in a peaceful condition, performing our daily tasks freely and perfectly. Entire economy and business environment was also in a good shape, until COVID-19 put a forceful stoppage to the overall life style and economy of the world. We all know that social distancing and cleanliness are the keys to prevent this pandemic. Hence, we urge your conscious effort to limiting public interaction and suspending wherever possible.

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Moreover, to fulfill your urgent requirement, we have a limited no. of branches up and running by ensuring all kinds of precautionary and safety measures for you.

In case of extreme emergency and facing difficulties in conducting banking transactions, please let us know through our 24/7 Contact Center number 16474 (or, dial +8809678016474 for ISD/Overseas Calls). We are always with you to combat your difficulties.

As you know we are going through a critical phase and the situation is novel to all of us. We are getting lot of new information from various sources everyday about COVID-19 which will be shared at www.dhakabankltd.com.

Thank you for your trust and continued support to us. I firmly believe that jointly we will be able to combat this situation and win against all the odds.

Please stay home, stay safe and take care of yourself and family.

Best regards,

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Dhaka Bank Limited