Top ten traded companies grab 40pc turnover
Top ten traded companies grabbed 40 per cent turnover of the Dhaka bourse on Tuesday while Khulna Power Company topping the chart for seventh straight session. The company’s share closed at Tk 121.20 on Tuesday, soaring 6.69 per cent over the previous day. In the last one month, its share price jumped 73 per cent or Tk 51.20 each. The power generation company’s share traded between Tk 53 and Tk 139 each in the last one year. The total turnover on the DSE stood at Tk 4.87 billion which was Tk 5.80 billion on the previous day. Khulna Power, which was listed on the DSE in 2010, disbursed 55 per cent cash dividend in 2017. In 2016, it paid 75 per cent cash dividend. The company’s earnings per share (EPS) stood at Tk 1.21 for January-March 2018 as against Tk 1.40 for January-March 2017. In nine months period, the EPS was Tk 3.93 for July 2017-March 2018 as against Tk 3.91 for July 2016-March 2017. The company’s paid-up capital is Tk 3.61 billion, authorised capital is Tk 7.0 billion and the total number of securities is 361.28 million. IFAD Autos followed next, with shares worth Tk 206 million changing hands. The company’s share price closed at Tk 130.90 each, advancing 1.08 per cent over the previous day. The turnover of United Power was Tk 131 million. The company’s share price fell 0.41 per cent to close at Tk 312.90 each. Intech featured a turnover of Tk 128 million. The company’s share price jumped 8.99 per cent to close at Tk 59.40 each. Aman Feed was also included in the top 10 turnover chart with shares of Tk 85 million changing hands. The company’s share price closed at Tk 73.40 each, shedding 0.27 per cent over the previous day.
China group plans support to make DSE a top bourse
The Chinese consortium, which became strategic partner of the Dhaka Stock Exchange early this month, has said the consortium would help DSE enhance its capability with the aim of making the Bangladesh’s premier bourse a leading market in Asia. The Chinese consortium of Shenzhen and Shanghai stock exchanges on September 4 joined DSE as its strategic shareholder through purchasing 25 per cent shares of the Bangladesh’s premier bourse at Tk 947 crore. The consortium nominated Xie Wenhai, deputy director general of the IT management committee of the Shenzhen Stock Exchange, as a member to the DSE board. The Chinese consortium offered technical assistance worth over $37 million to DSE and the Bangladesh Securities and Exchange Commission asked the bourse to evaluate technical and financial offers of the group for the interest of the country’s capital market. No market is free from market manipulation. People from China, the UK and the USA as well as elsewhere complain about market abuse. Bangladesh regulatory authorities and DSE are working hard on the market integrity
PM invites US businesses to invest in Bangladesh
Prime Minister Sheikh Hasina has promised the American businesses her government’s total support in an effort to get them to invest in Bangladesh, report agencies. I invite you to come to Bangladesh with your businesses, technology and innovations for mutual benefit. The US is the single largest trading partner of Bangladesh with bilateral trade of $7.5 billion in 2016-17 and second largest investment partner with investment of over $3 billion, according to her. Focusing on socio-economic uplift and economic development of Bangladesh, the prime minister said the economy grew at an average rate of 6.6 per cent in the nine and a half years of her government. The GDP growth was 7.86 per cent in the last fiscal year, which is expected to be 8.25 per cent in the next fiscal, she said, adding that the foreign currency reserve has grown more than nine times to over USD 33 billion in 2018 from a mere USD7.5 billion in 2009. Bangladesh could be a gateway to a market of 4.0 billion people — itself offering a strong and growing market of 160 million. Bangladesh has the most liberal investment policy in South Asia with most attractive incentives and highest profit rate.
BIAC chairman, CEO attend China Arbitration Summit
It was co-hosted by China International Economic and Trade Arbitration Commission (CIETAC), the Supreme People’s Court of the People’s Republic of China (SPC), the United Nations Commission on International Trade Law (UNCITRAL) and China Council for the Promotion of International Trade (CCPIT). Formerly known as the Foreign Trade Arbitration Commission, CIETAC was set up in April, 1956 under the China Council for the Promotion of International Trade (CCPIT). BIAC, by signing cooperation agreements, has received recognition as an ADR institution from 13 international ADR institutions including the Permanent Court of Arbitration (PCA), The Hague; the Asian International Arbitration Centre (AIAC), Hong Kong International Arbitration Centre (HKIAC), Singapore International Arbitration Centre (SIAC) and Thailand Arbitration Center (THAC) amongst others. It has also signed MoUs with 20 banks, corporate and real estate entities, NGOs, universities etc. in Bangladesh.
Small farmers: Harnessing benefits of the Fourth Industrial Revolution
A key challenge for Bangladesh is to help these small farmers increase production and maximise income to combat hunger and poverty. The difficulties are many that cover diverse areas such as low soil fertility, inadequate capacity to make necessary investments in productive inputs, high risks in production and marketing, low access to pricing and other information and technologies, etc that preclude them to realise optimal production and returns. Globally, the Fourth Industrial Revolution (4IR) is heralding an exponential pace of technological change, building on digital technologies and spawning new ones; and transforming systems and societies. Already new products and services are reaching the market through leveraging the latest generation of technologies, such as internet of things, virtual reality, bitcoin, big data, artificial intelligence (AI), nanotechnology, genomics and bionics. More importantly, physical, digital and biological worlds are merging with each other in a fusion of technologies and creating new worlds of cyber-physical systems. Digitised land registration, mobile phones and ‘Uberised’ tractor services are possibilities that can contribute to improved farm management by the small farmers. The Public Food Distribution System (PFDS), one of the world’s largest safety nets programmes of its kind, distributes food grains to the poor and disadvantaged rural residents.
Veg farming on floating beds gains popularity in Gopalganj
Some 3,500 farmers across the district are now growing varieties of vegetable on such land. According to the sources of the Department of Agriculture Extension (DAE), a total of 480 hectares of floating land have been brought under vegetable cultivation. Farming of red spinach, bottle gourd, okra, pumpkin, radish, arum, coriander leaf, turmeric, bean, carrot and tomato on floating beds is now a common scenario in the area. vegetable cultivation on floating land can be an additional source of income. Landless grassroots farmers may adopt the modern method for vegetable farming in the rainy season. Under the method, a vegetable cultivator spend around Tk 4,000 to Tk 4,500 for a decimal of land but the return can be Tk 8,000 to Tk 9,000.
China says US putting ‘knife to its neck’, hard to proceed on trade
It is difficult to proceed with trade talks with the United States while Washington is putting ‘a knife to China’s neck’, a day after both sides heaped fresh tariffs on each other’s goods. When the talks can restart would depend on the ‘will’ of the United States, vice commerce minister Wang Shouwen said at a news conference in Beijing. US tariffs on $200 billion worth of Chinese goods and retaliatory taxes by Beijing on $60 billion worth of US products including liquefied natural gas (LNG) kicked in on Monday, unnerving global financial markets. China also accused the United States of engaging in ‘trade bullyism’, and said Washington was intimidating other countries to submit to its will, according to a white paper on the dispute published by China’s State Council, or cabinet, on Monday. Several rounds of Sino-US talks in recent months have appeared to produce no breakthroughs, and fresh mid-level negotiations which had been expected in coming weeks have been shelved after Beijing reportedly decided late last week not to send a delegation to Washington. The government has not forced this, and a lot of JVs are actually performing very well in China.
Ford produces more cars and makes more profits in China through its JV than it does in the United States
Local and Global Stock Indices *
|Index Name||Close Value||Value Change||Percentage Change|
|DSEX|| 5386.88767 || ↓50.55|| ↓0.45%|
World Commodities *
|Commodity||Close Value||Value Change||Percentage Change|
|Crude Oil (WTI)||$ 72.14||↓0.13||↓0.18%|
|Crude Oil (Brent)||$ 81.81||↓0.06||↓0.07%|
Major Currencies Exchange Rates Movement in Last Seven Days *
|USD 1||BDT 84.0383|
|GBP 1||BDT 110.7625|
|EUR 1||BDT 98.8879|
|INR 1||BDT 1.1573|
*CURRENCIES AND COMMODITIES ARE TAKEN FROM BLOOMBERG.