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 posted the highest single-day gain in the past two months on Monday, as investors gained confidence thanks to the Central Bank’s market supportive measures. The market started on a flying note and remained vibrant throughout the session amid strong buying pressure from the investors, including institutional investors. SEX, the prime index of the Dhaka Stock Exchange [DSE], crossed the ‘psychological threshold’ of 5,000-mark again, soaring 79.26 points or 1.61 per cent to settle at 5000.23. It was the biggest single-day gain in the past two months since July 23, when DSEX surged 2.24 per cent or 111 points. The Bangladesh Bank has announced a fresh policy for providing temporary liquidity support to the Scheduled Banks for boosting their investment in the country’s ailing capital market. The Banks will be eligible to invest such liquidity only in their own portfolios or the portfolios of their subsidiaries as loan, according to a notification, issued by the BB on Sunday. Share prices of all non-Bank financial institutions and Banking issues closed green. The sectors gaining 3.57 per cent and 3.19 per cent respectively. The government and top mobile phone operator have reached a consensus over settling the long disputed audit claims of Tk 125.79 billion amicably which made investors optimistic. The Non-Bank financial institutions booked the highest gain of 3.57 per cent, followed by Banking with 3.19 per cent, food 2.12 per cent, engineering 0.96 per cent, telecom 0.59 per cent and pharmaceuticals 0.44 per cent.
Venture Capital and Private Equity Association of Bangladesh [VCPEAB] has sought policy support to promote alternative investment fund industry. Investment by High Net worth Individuals [HNI] in Alternative Investment Fund should be given tax exemptions for investments in insurance and other types of investment instruments. Tax rebate should also be given to the investors for investment from the provident funds as well, according to Zia U. Ahmed, Vice Chairman of VCPEAB. They discussed different initiatives related to fostering foreign investment in information technology and other sectors by organizing roadshows and investment summits. VCPEAB also requested to provide policy support for the growth of venture capital and private equity industry. The delegation emphasized that venture capital and private equity investments can directly contribute to boost foreign trade, local innovation, and export to help create home-grown import substitutes.
Two Bangladeshi companies are set to export liquefied petroleum gas [LPG] to the landlocked northeastern states of India. Omera Petroleum and Beximco LPG will export LPG to state-owned Indian Oil Corporation [IOC], which will bottle and sell to consumers. The consignment will be shipped to Bishalgarh, a town in Sepahijala district of Tripura in India, through Bibirbazar border point in Cumilla. Omera will initially export 1,000 tonnes of LPG per month, with the quantity going up to 3,000 tonnes over the next six months. Beximco LPG, which also exported a consignment on a trial basis last month, will take a couple of weeks to export its second batch. Northeast India comprises eight states — Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, and Tripura. Of India’s 130 crore people, the eight states account for nearly 4 percent. Their combined LPG demand could be 10,000 tonnes per month, according to industry players in Bangladesh. Northeast India is the eastern-most region connected with mainstream India through a narrow corridor in Siliguri of West Bengal. Transporting goods to this region from mainland takes days and cost escalates to a level that is not viable for businesses. There are 19 importers and bottlers of LPG in Bangladesh and their combined production capacity is nearly 20 lakh tonnes against a demand of only nine lakh tonnes.
Source: https://www.thedailystar.net/business/omera-beximco-export-lpg-india-1804270
A Chinese company, High-Tech Seed Ltd, expressed on Monday interest to invest in food processing sector of Bangladesh, officials said.Company chairman Jiang Sanquiao expressed the interest at a meeting with Agriculture Minister Dr Muhammad Abdur Razzaque at Bangladesh Secretariat in the capital, considering the business potential. The company representatives to come up with specific proposals for investment in the food processing sector. The government is encouraging the farmers to cultivate non-traditional crops instead of the traditional ones considering their economic benefits. The soil and climate of Bangladesh are favorable for cultivating fruits like dragon, rambutan, coffee, avocado etc. The chairman of High-Tech Seed Ltd., a well-known seed exporting company in China, sought minister’s cooperation for marketing their high-quality seeds here in Bangladesh with the cooperation from Bangladesh Agriculture Development Corporation. Apart from investment, the company also interested to jointly work with Bangladesh government for developing varieties of T- Aman rice and vegetables. It is engaged in research, development, production, processing, marketing and technical services of new varieties of rice, wheat, corn, cotton, vegetables, melons, fruits etc.
The Investment Corporation of Bangladesh [ICB] has moved to resume full operation of the country’s largest-ever unit fund – ICB Unit Fund – by opening the scope of purchasing its units for all investors. The state-run corporation has taken the initiative as part of its market supportive measures, and for ensuring mass participation in buying and selling the fund. The ICB’s plan is to ensure mass participation in the unit fund, and the investors having long-term investment plan will be benefited by the fund’s dividends. More funds will be injected into the capital market following full operation of the unit fund. ICB Unit Fund, whose present size is around Tk 50 billion, was established in April 1981 for mobilizing savings through sale of its units to small investors and investing the funds in marketable securities. The state-run entity has been managing the unit fund. Thousands of senior citizens have units of the oldest unit fund, which has been distributing lucrative dividends year after year. The ADB’s conditions, among others, also included establishment of the Central Depository Bangladesh Limited [CDBL], and formation of subsidiaries for the ICB. The ADB provided US$ 80 million loan to the government. The ICB Unit Fund plays a big role in the market. Its existing unit-holders expect more vibrant management of the fund.
Bkash, a mobile financial service provider, has partnered with Visa, the global leader in payments technology, to enable the loading of Bkash wallets through Visa cards by ‘Add Money’ service. Soon, millions of Bkash customers will be able to load their wallets using Visa debit and credit cards and pay for their daily purchases. With this partnership, customers can log in to their Bkash app and link their Visa card credentials to the wallet to add money using Visa cards. With this ‘always on’ service, Bkash customers can experience a seamless and secure way of funding Bkash wallets. Eastern Bank Ltd [EBL] will provide the technological support for this service and ensure interconnectivity between Visa and Bkash for other services as well. Visa will also enable Bkash customers to pay their Visa credit card bills through the Bkash App.
| Index Name | Close Value | Value Change | Percentage Change |
|---|---|---|---|
| DSEX | 5000.23551 | ↑ 79.26 | ↑1.61 |
| DJIA | 26,949.99 | ↑ 14.92 | ↑ 0.06% |
| FTSE100 | 7,326.08 | ↓ 18.84 | ↓0.26% |
| Nikkei 225 | 22,131.77 | ↑52.68 | ↑0.24% |
| Commodity | Close Value | Value Change | Percentage Change |
|---|---|---|---|
| Crude Oil (WTI) | $ 58.40 | ↓ 0.24 | ↓ 0.41% |
| Crude Oil (Brent) | $ 64.45 | ↓ 0.32 | ↓ 0.49% |
| Gold Spot | $ 1,521.37 | ↓ 0.87 | ↓ 0.06% |
| Exchange Rates | |
|---|---|
| USD 1 | BDT 82.9207 |
| GBP 1 | BDT 103.195 |
| EUR 1 | BDT 91.1945 |
| INR 1 | BDT 1.17010 |
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