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
Two more state-owned commercial banks (SoCBs) were included in the list of banks facing capital shortfall in the first quarter (Q1) of this calendar year. With the latest two, the total number of banks facing capital shortfall, rose to nine in the Q1 from seven in the final quarter of last calendar year, according to the central bank’s latest statistics. Of the nine, five out of six SoCBs, two of 40 private commercial banks (PCBs) and two specialized banks (SBs) were included in the capital shortfall list. The banks had kept aside more money from their capital for maintaining provisioning requirement against their non-performing loans (NPLs), the central banker explained. The capital shortfall of nine banks stood at BDT 147.0 billion as on March 31 this year against BDT 147.0 billion three months ago despite a substantial decrease in a leading SoCB’s capital shortfall, according to the BB officials. The capital shortfall of the SoCB came down to BDT 25.6 billion in Q1 from BDT 34.8 billion in Q4 of the last calendar year. The central bank has already asked four SoCBs to take effective measures to meet their capital shortfall as early as possible. The overall capital-to-risk weighted assets ratio (CRAR) of all the banks operating in Bangladesh came down to 10.68% in Q1 from 10.80% in Q4 of last calendar year, the BB data showed. The CRAR was 10.62% in Q1 of 2016. The amount of classified loans in the country’s banking system jumped by more than 18.0% to BDT 734.1 billion during the January-March period of this year from BDT 621.7 billion in the preceding quarter.
Source:
http://print.thefinancialexpress-bd.com/2017/05/30/173915
http://www.thedailystar.net/business/banks-capital-base-expands-slightly-1412947
http://www.newagebd.net/article/16607/nine-banks-face-BDT-16507cr-capital-shortfall
Excel Dyeing & Printing Limited, one of the corporate directors of Islami Bank Bangladesh Limited (IBBL), has expressed its intention to sell 9.7 million shares out of its total holding of above 64.35 million shares in IBBL at prevailing market price. The Excel Dyeing & Printing Monday made the declaration to sell off shares after three working days of another declaration made to purchase above 32.03 million shares. According to the Monday’s declaration, the corporate director of the IBBL will sell 9.7 million at prevailing market price within next 30 working days. The trades will be executed in the public/block market, said the Dhaka Stock Exchange (DSE). Earlier, on May 23 the Excel Dyeing & Printing made a declaration to purchase above 32.03 million shares and on May 25 the company reported that it has completed its buy as per declaration. According to Chittagong Stock Exchange (CSE), the Excel Dyeing & Printing purchased 32.03 million shares offered by Islamic Development Bank (IDB).
Source:
http://print.thefinancialexpress-bd.com/2017/05/30/173870
http://www.thedailystar.net/business/excel-dyeing-sell-97-lakh-islami-bank-shares-1412950
A specific policy framework should be put in place for a thriving bond market in Bangladesh, said MA Mannan, state minister for finance, yesterday. With the help of professionals and experts on bond market, the government will be able to take proper initiative to form an effective policy framework, he said. The state minister spoke at a roundtable on “Financial sector, growth and budget” at The Daily Star Centre in Dhaka. The Finance Alumni Association, a forum of the graduates of the finance department of the University of Dhaka, organized the discussion. Md Minhaz Zia, chairman of Asian Tiger Capital Partners Investments Ltd, said a thriving bond market is a key to increasing infrastructure investment. Mannan said everyone fears to finance start-ups and young entrepreneurs as there is uncertainty whether they will get their money back. Despite the risk, banks and financial institutions should come forward and finance true entrepreneurs after proper evaluation, he said. Mohammed Abdul Momen, president of the alumni association, moderated the discussion. Md Mahbub-ur Rahman, deputy CEO of HSBC Bangladesh and Nazrul Islam, former CEO of Infrastructure Investment Facilitation Company, also spoke.
Source: http://www.thedailystar.net/business/better-policies-boost-bond-market-1412968
The gloomy outlook of the world economy and the internal challenges have eaten into the export earnings this fiscal year — a development that has prompted the exporters and economists to call for policy supports to fashion a recovery.
In the first ten months of fiscal 2016-17, export earnings stood at USD 28.7 billion, missing the ten-month target of USD30 billion. The receipts are only 3.9% higher than a year earlier, according to data from the Export Promotion Bureau. During the July-April period, all major sectors recorded a decline in shipments including apparel, which accounts for 82.0% of the export receipts. Export earnings from garment shipments grew only 2.21% in the first ten months of fiscal 2016-17 — way below the sector’s average of 13.0% in the past ten years, said Siddiqur Rahman, president of the Bangladesh Garment Manufacturers and Exporters Association. The export receipts during the period were 6.1% lower than the ten-month target of USD 24.6 billion. Apparel exporters said a silent recession is going on in their main export destinations in Europe, brought about by the general elections in four major economies in 2017.
Source: http://www.thedailystar.net/business/exports-bear-the-brunt-anxiety-global-politics-1412971
Bangladesh was the fourth largest Foreign Direct Investment (FDI) host among the Least Developed Countries (LDCs) in the past year. The latest global investment trends monitor report, released by the United Nations Conference on Trade and Development (UNCTAD), unveiled the information. It showed the inflow of FDI to Bangladesh stood at $2.3 billion in 2016, a record amount, posting 4 per cent growth over the previous year’s amount. But the overall FDI to the LDCs declined in the past year, mainly due to declines of FDI in natural-resource-based LDCs. Total flows of FDI to the 48 least developed countries dropped by 13 per cent to $38 billion in the past year from $44 billion in 2015.
Source: http://www.thefinancialexpress-bd.com/2017/05/29/72010
Bangladesh’s job growth is the slowest in two decades although its economy has been registering faster growth for the last several years. The country could add only 1.4 million jobs between 2013 and fiscal 2015-16, down from 4.0 million jobs it had added between 2010 and 2013, according to Bangladesh Bureau of Statistics’ Labor Force Survey data. The sluggish job creation has raised questions about the high economic growth figures being recorded, with some economists terming the phenomenon to be ‘jobless growth.’ Some others raised questions about the accuracy of official economic growth figures. Amid this situation, Finance Minister AMA Muhith will announce the budget for fiscal 2017-18 on Thursday. Analysts said creating adequate jobs for the growing young population will be a major challenge for the government in the coming year. The latest figure on employment generation comes after the state-owned statistical agency estimated GDP growth this fiscal year to be a record 7.24%, up from 7.11% a year earlier. This would be the second year in a row in which the country managed to break out of its decade-long 6.0% growth trap. Between 2013 and fiscal 2015-16, the industrial sector created only 0.1 million additional jobs to take the total number of the employed in the sector to 12.2 million. Jobs grew mainly in the services sector, while the agriculture sector shed jobs. The services sector added 2.2 million to take the tally of the employed in the sector to 22.0 million.
Source: http://www.thedailystar.net/business/job-growth-slowest-two-decades-1412974
Bangladesh is likely to decide on opening talks with Iraq in exporting pharmaceuticals while forging cooperation in the health care sector soon, officials said. Earlier, the Iraqi government had expressed its interest to import pharmaceuticals and hire medical professionals from Bangladesh to rebuild its shattered medical sector, they added. In a letter to the ministry of foreign affairs (MoFA) dated February 28, 2017, the Bangladesh Embassy in Baghdad has cited the Iraqi government’s interest to import pharmaceuticals and expand cooperation with Bangladesh’s health sector. Bangladesh Ambassador to Iraq Abu Maksud M Forhad said there were immense potential for the country to expand trade and commercial ties with Iraq. He said that Iraq desperately needs cooperation from Bangladesh in rebuilding its health care sector. He said that he discusses the issue with health ministry officials tomorrow (Wednesday). Iraqi ministry of health has decided to send a four-member government delegation to visit Dhaka soon to discuss the issue with the Bangladesh government, said the letter. A leading medicine exporter told the FE they were ready to export medices if they got specific proposal from Iraq. A high official of the ministry of commerce told the FE a business delegation from the country would fly to Iraq after Eid-ul- Fitr to get a sense of the business potential between the two countries. However, a foreign ministry official, who deals with Middle Eastern Affairs, told the FE there was no visible progress in the Iraqi proposal.
Source: http://print.thefinancialexpress-bd.com/2017/05/30/173878
The government is likely to increase excise duty on international air ticket prices in the national budget for the next fiscal year of 2017-18. Officials of the finance ministry said that the duty might be increased by 100 per cent for international passengers through amending the Excise and Salt Act-1944. Finance minister Abul Maal Abdul Muhith is going to place a proposal in this connection in his budget speech to be delivered in parliament on June 1. They said that the duty might be hiked to Tk 2,000 per ticket for single journey for Asian countries, except member states of the South Asian Association for Regional Cooperation (SAARC), from the current Tk 1,000. For the countries of Europe, USA and the rest of the world, the duty may be increased to Tk 3,000 per ticket for single journey from existing Tk 1,500. The duty amount may be kept unchanged for domestic passengers and for SAARC countries at Tk 500, officials said.
Source: http://www.newagebd.net/article/16610/excise-duty-on-intl-air-tickets-set-to-be-doubled
| Index Name | Close Value | Value Change | Percentage Change |
|---|---|---|---|
| DSEX | 5356.58 | ↓12.15 | ↓0.23% |
| DJIA | 21,080.28 | ↓2.67 | ↓0.01% |
| FTSE100 | 7,547.63 | ↑29.92 | ↑0.40% |
| Nikkei 225 | 19,682.57 | ↓4.27 | ↓0.02% |
| Commodity | Close Value | Value Change | Percentage Change |
|---|---|---|---|
| Crude Oil (WTI)* | $49.99 | ↑0.19 | ↑0.38% |
| Crude Oil (Brent)* | $52.29 | ↑0.14 | ↑0.27% |
| Gold Spot* | $1,267.17 | ↑0.41 | ↑0.03% |
Call Center: 16474 & +8809678016474 (Overseas) Copyright © 2024 Dhaka Bank PLC. All rights reserved.
