Top brokerage houses of the Dhaka Stock Exchange on Sunday blamed Bangladesh Bank’s frequent change in policies on commercial banks’ role in the capital market for the current liquidity crisis in the market. At a meeting with the DSE board, some 30 top brokers identified six major reasons for the latest fall in transaction volume ... Read more
Business
Investors rally as stocks tumble in panic-driven selling
A section of angry investors took to the street on Sunday demanding resignation of finance minister AMA Muhith as the share prices at the Dhaka Stock Exchange tumbled on the day amid volatile trading and panic-driven sell-offs by nervous investors. The benchmark general index of the burse, or DGEN, on Sunday fell by 59.35 points, ... Read more
Robi’s Q2 revenue up by 22pc
Robi Axiata Ltd, one of the country’s four private sector cell phone operators, has posted a revenue earning of Tk 762.8 crore in the second quarter of 2011 registering an increase of 22 per cent over the corresponding period of last year. Robi, formerly AKTEL, has also added some 12 lakh new subscribers during the ... Read more
Germany now Bangladesh’s largest RMG market in Europe
Among the European Union (EU) countries, Germany alone has become a rising market for Bangladesh’s readymade garments (RMG) in recent years, next to the largest market in USA, according to apparel exporters. BGMEA data show more than US$3.1 billion apparel exports to the largest economy of Europe last fiscal year, a sharp rise with 56 ... Read more
Teletalk plans to launch 3G in March
State-run telecom operator Teletalk is planning to launch much awaiting third generation of mobile technology as pilot basis without changing its present call charge before Independence Day on March 26. ‘We are planning to start piloting of 3G in Dhaka and Chittagong first and to expand the technology for entire country later on,’ Teletalk managing ... Read more
Turnover of DSE hits 7-and-half month low
The turnover of Dhaka Stock Exchange dipped to a seven-and-a-half-month low to Tk 241.04 crore in volatile trading on Thursday with the index falling marginally as the retail investors continued to remain cautious and institutional ones sat on the fence. The DSE witnessed the year’s lowest turnover at Tk 206.41 crore on January 25 after ... Read more
Only 9pc of BB green energy fund disbursed in 2 years
Only nine per cent of the Bangladesh Bank’s loan refinance scheme for renewable energy and clean water projects has been disbursed in the two years since the facility was launched on August 3, 2009. Till July 2011, banks and financial institutions have borrowed only Tk 17.46 crore from the Tk 200 crore revolving funds
Dhaka stocks finish positive a tumultuous week
Dhaka stocks finished positive last week, registering slim gains but ending a four-week bear run, thanks to the regulator’s move for a uniform face value of all scrip that cheered up investors in the last two trading sessions of the week. DGEN, the benchmark general index of Dhaka Stocks Exchange, advanced by 1.52 per cent,
BGMEA fears short-term slump in apparel export
All workers to get salary, allowances before Eid: assoc There will be a slowdown in apparel exports for another six months as exports orders from the buyers have slowed down, Shafiul Islam Mohiuddin, president of Bangladesh Garment Manufacturers and Exporters Association, said on Thursday. Addressing a meeting with the press, he claimed that most of ... Read more
Stocks rally continues unabated
The stocks rally that begun Wednesday in the Dhaka bourse continued unabated on Thursday, the last trading session before the Eid vacation, as the investors went on buying shares in the hope that the gaining streak would roll on following the regulatory move for making a uniform face value of all the scrip and mutual ... Read more
Inflation rises faster in urban areas
Analysts blame rising consumer prices on bad roads and a lagged effect of monetary expansion Inflation accelerated faster in urban areas than in rural settings in July, partly because battered roads disrupted the supply chain, analysts said yesterday. The analysts also linked the jump in consumer prices to a lagged effect of high monetary expansion. ... Read more
Face value of shares, MF units to turn Tk 10 from Dec
The Securities and Exchange Commission on Tuesday decided that the face value of shares of all companies and units of all mutual funds would have to be converted to Tk 10 from December 1. Of the 231 companies listed with the Dhaka Stock Exchange, currently 124 companies have shares of Tk 100 face value and ... Read more
DSE turnover hits 7-month low on thin trading
The turnover of the Dhaka Stock Exchange dipped to a seven-month low of Tk 285.64 crore in volatile trading on Tuesday with the investors waiting to see the outcome of the cases filed by the Securities and Exchange Commission against five alleged market manipulators and the market behaviour following the regulatory action before deciding their ... Read more
DSE dissatisfied with IPO proposals of 3 companies
The Dhaka Stock Exchange Limited last week turned down the proposals of three companies to float initial public offering as its board of directors found the proposals either faulty or unfit for the current market situation. The companies that approached the bourse for its opinion on floating IPOs are Unique Hotel and Resort Ltd, Energyprima ... Read more
3 more banks to offer offshore banking
The Bangladesh Bank is going to allow three more commercial banks to open offshore banking branches to utilise the country’s foreign currency reserve more effectively and boost competition among the banks. The banks can open their offshore banking units in areas of their choice. The central bank has already finalised the process of approving the ... Read more
Import of used cars slips while more new cars come in
Import of used cars from Japan posted a sharp decline in fiscal year 2010-2011 from that of the previous two years. Importers said the reasons for the drastic fall in used car import included increased import duty, scarcity of used cars in Japan after the devastating tsunami hit the country in March, and devaluation
Dhaka stocks sink for fourth week
Cautious trading by retail investors and inactivity of the institutional ones kept Dhaka stocks in the negative zone last week amid a significantly low volume of transactions, stretching the current bear run to four straight weeks. Last week, the benchmark general index of Dhaka Stock Exchange, or DGEN, lost 94.84 points,
Earnings from telecom up 29pc
The government has earned Tk 3,061 crore from the telecommunication sector last fiscal year — a 29 percent rise from a year earlier. Bangladesh Telecommunication Regulatory Commission (BTRC) has recently handed over the money to the government
Dhaka stocks post rise but turnover falls sharply
Dhaka stocks posted a sharp rise on Thursday, although the turnover dropped to a two-and-a-half-month low amid cautious trading as uncertainty about the market stability lingered on. DGEN, the benchmark general index of Dhaka Stock Exchange, gained 74.09 points, or 1.22 per cent, to close the day at 6,118.01 points
Liquidity crunch sends Dhaka stocks on the edge
Turnover of Dhaka Stock Exchange hit a new two-month low on Tuesday because of liquidity crunch as the institutional investors remained inactive and individual ones cautious following the latest bear run of the market for the last three weeks. The DGEN, benchmark general index of Dhaka Stock Exchange, on Tuesday lost 60.02 points, or 0.97 ... Read more