Most Banks’ EPS up in Jan-Mar
The consolidated earnings per share (EPS) of most of the listed Banks rose in the first quarter (Q1) for January-March, 2019 of this year compared to that of the same quarter last year. EPS is the portion of a Company’s profit allocated to each outstanding share of common stock. In short, it serves as an indicator of a Company’s profitability. According to the market analysts, the banking sector remained volatile with ongoing liquidity crisis, soaring interest rate coupled with huge non-performing loans which may affect the Banks’ profitability at the end of the year. All 30 banks listed with the Dhaka Stock Exchange (DSE) disclosed their un-audited consolidated EPS for January-March, 2019 quarter.
Develop stock, bond markets to meet infrastructure financing needs
According to the official of a state-run non-bank financial institution, Bangladesh must develop its capital and bond markets to meet the long-term financing needs of infrastructure projects as bank loans are not viable for mega initiatives worth billions of dollars. As per SM Formanul Islam, Executive Director and CEO of Bangladesh Infrastructure Finance Fund, funds will have to come from the stock market or the financial sector. So, if we can’t develop the stock and bond markets, we will not have access to funds and a country could not implement infrastructure projects relying on bank borrowing.
Automobile repair draws big Business groups’ interest
Big Business groups are entering the automobile workshop business, tempted by the massive jump in the number of motor vehicles plying the roads in the past several years. Their entry means traditional workshops will gradually be phased out and replaced with sophisticated automated repair centres. According to market players, the owner of a five-year-old 1,500cc car has to spend an average Tk 18,000 a year for servicing. The cost is 20 percent to 30 percent higher for higher capacity cars. As per Zahirul Hoque, Secretary General of the Bangladesh Automobile Workshop Malik Samity (BAWMS), while there is no reliable data of the auto workshop industry the market has been increasing almost 15 percent annually for the last five to six years.
Energypac brings $16m in FDI
Energypac Power Venture, a subsidiary of Energypac, has recently signed a joint-venture agreement with UAE-based EMA Power Investment, bringing in $16 million foreign direct investment into the country’s booming power sector. The EMA is a joint venture between South Korea’s Daelim Energy and IDB Infrastructure Fund II managed by ASMA Capital. The investment is for implementing a 115 megawatt heavy fuel oil-fired power plant project at Thakurgaon. Daelim Energy will avail 49 percent stake of the project through the investment.
Govt bond yield rises sharply
Yield on government treasury bonds (T-bonds) increased significantly on Tuesday following an upward trend in interest rates particularly on bank deposits. According to officials and Bankers, high yield on the government securities may continue till July due to higher demand for liquidity ahead of Eid-ul-Fitr festival along with impact on closing of the fiscal year. As per the auction results, published by Bangladesh Bank (BB), the cut-off yield — generally known as interest rate — on 05-Year Bangladesh Government Treasury Bonds (BGTBs) rose to 7.46 per cent on the day from 6.99 per cent of the previous auction held on April 09.
NRB Global Bank gets new AMD
Md Mostafizur Rahman Siddiquee has joined NRB Global Bank as Additional Managing Director recently. He was working in Islami Bank Bangladesh. He has 33 years’ job experiences in banking arena.
Women own 2.8pc Business in BD: ILO
According to the ILO, women’s participation is limited to 10 per cent of the total Business in the country, whereas only 2.8 per cent of the Business is owned by women. Some 26.6 per cent women have deposit in the Banks, and only 1.8 per cent women have access to bank credit. Besides, women face more barriers than men in becoming Entrepreneurs and starting their own Business in the country. The ILO, in collaboration with the Directorate of Technical Education (DTE) of the Ministry of Education, conducted the study under Bangladesh Skills for Employment and Productivity (B-SEP) Project. It is an initiative of the government, funded by Canada and implemented by the ILO.
ASM Feroz Alam re-elected Chairman of Premier Leasing Securities
ASM Feroz Alam was re-elected as Chairman of Premier Leasing Securities Limited in its 53rd meeting of the Board of Directors of the Company. ASM Feroz Alam is the Vice Chairman of Mercantile Bank Limited. He is also the Director of Mercantile Bank Securities Limited and Managing Director of Toyo System BD Ltd.
E-commerce fair kicks off tomorrow
A two-day e-commerce fair kicks off tomorrow (Friday) aiming to make the online-based services popular. Telecom and ICT Minister Mustafa Jabbar will inaugurate the fair as the Chief Guest. The fair will be held at the General Post Office (GPO) premises in Dhaka. Some 50 large e-commerce firms will take part in the event, where there will be 80 stalls, six pavilions and six mini pavilions. Bangladesh Post Office and the E-Commerce Association of Bangladesh (e-CAB) are jointly organising the fair.
Local and Global Stock Indices *
|Index Name||Close Value||Value Change||Percentage Change|
|DJIA||25,648.02|| ↑115.97|| ↑0.45%|
|FTSE100|| 7,296.95|| ↑55.35||↑0.76%|
|Nikkei 225|| 21,009.11||↓179.45||↓0.85%|
World Commodities *
|Commodity||Close Value||Value Change||Percentage Change|
|Crude Oil (WTI)|| $ 62.40||↑0..38||↑0.61%|
|Crude Oil (Brent)||$ 72.12||↑0.35||↑0.49%|
|Gold Spot|| $1,295.85||↓0.64||↓0.05%|
Major Currencies Exchange Rates Movement in Last Seven Days *
|USD 1||BDT 82.9866|
|GBP 1||BDT 106.8880|
|EUR 1||BDT 92.9682|
|INR 1||BDT 1.1785|
*CURRENCIES AND COMMODITIES ARE TAKEN FROM BLOOMBERG.<