Dhaka stocks gained again on Tuesday with a sharp rise of share prices of two largest companies—GrameenPhone and MJLBD—and all non-bank financial institutions. The benchmark general index of Dhaka Stock Exchange, or DGEN, on the day gained 100.99 points, or 1.55 per cent, to close at 6,587.58
Business
RanksTel set to resume service
Private landline operator RanksTel won back approval from the telecom regulator on Sunday to resume operations after a 16-month shutdown. A team of Bangladesh Telecommunication Regulatory Commission restored RanksTel’s licence and spectrum, after the operator withdrew the case it filed against the
Bangladesh Bank board opposes plan to open new banks
The board of directors of the central bank has opposed a government plan to allow more banks and financial institutions to come on the scene, saying the country does not require any new player in its financial regime. During an exclusive meeting with Finance Minister AMA Muhith on Sunday, the Bangladesh Bank board led by Governor ... Read more
ACER ICONIA all set to blaze the Bangladesh Market
Acer the second largest PC vendor in the world launched its much awaited tablets in Dhaka recently. The new range of five tablets were launched under the brand ICONIA series, a new concept device set to add a brand new tablet experience for highly intuitive all-point multi-touch functionality, which means user’s can navigate seamlessly using ... Read more
Two locally built cargo ships launched
A local company recently launched two cargo ships built at the cost of Tk 8 crore at a dockyard in Barisal for plying on river and coastal routes. The ships were built at the shipyard of Sundarban Navigation Company at Beltala on the bank of Kirtankhola River. Agrani Bank financed for the construction of the
Yunus spurs Malaysians on social business
Nobel laureate Professor Muhammad Yunus has called upon the new generation of Malaysia to put their talents and energies to solving the problems of society using their innovation, creativity, resources and technology. The microcredit pioneer made the call during the launch of the Nobel Laureate in Residence programme at the Universiti Kebangsaan Malaysia in Bangi, Selangor, ... Read more
Stocks fall Sunday on Muhith’s comments
Star Business Report Stocks declined on Sunday after an eight-day gaining streak as investors sold shares to book profits, after the finance minister indicated market manipulation might be at work again. The Dhaka Stock Exchange’s benchmark index DGEN lost 91 points, or 1.39 percent, to close at 6,486. On the port city’s bourse, the selective ... Read more
Ahsan Afzal, Badrul H Khan become AB Bank DMDs
Ahsan Afzal recently joined AB Bank Limited as deputy managing director and Badrul Haque Khan was promoted to the post of deputy managing director of the bank. Prior to joining AB Bank, Ahsan was the general manager for unsecured lending and consumer transaction banking at Standard Chartered Bank, said a news
MA Awal becomes Sonargaon Hotel director
Pan Pacific Sonargaon Dhaka promoted MA Awal to the position of director of sales and marketing from July 1. Awal, with his new position and responsibilities, became a member of the executive committee of the hotel whose role is to establish and set the trend, policies and procedures under the guidance of the general manager ... Read more
Rural internet far off: study
The rural people of Bangladesh would not get ubiquitous access to the internet in the next few years due to a lack of government stimulus in the telecom sector, according to a research jointly conducted by Alcatel-Lucent and World Economic Forum. The study said, with no stimulus, the urban population of Bangladesh may come close ... Read more
Garment makers open liaison offices in HK
Ready Made Garments Garment makers open liaison offices in HK Many Bangladeshi garment entrepreneurs are opening their liaison offices in Hong Kong to ensure easy and quick services in businesses, said the industry insiders. The RMG sector entrepreneurs are getting interested to open new offices in Hong Kong also for geographical proximity with China, the ... Read more
Garment orders may slow down
Ready Made Garments Garment orders may slow down Garment makers see a slowdown in orders from international buyers who have now taken a wait-and-see stance as the prices of raw materials are on the slide worldwide pushing the outsourcing agents to rethink about the prices they would offer. The buyers of all brands are waiting ... Read more
Al-Arafah donates solar panels in Habiganj
Al-Arafah Islami Bank yesterday distributed 25 solar panels for free among some poor families at Madhabpur in Habiganj in a bid to boost the rural economy through empowering the poor. The bank handed the panels as part of its corporate social responsibility programme. Bangladesh Bank Governor Atiur Rahman inaugurated the
Stocks pass four bullish weeks
Stocks gained for a fourth week with high turnover due to active participation of small and institutional investors and the possibility of an increased inflow of money into the market. The benchmark general index, DGEN, gained 4.22 percent or 266 points, to end the week at 6,578. The yardstick of DSE gained 13.89 percent or ... Read more
Taka continues to depreciate
Racks up inflation, intensifies pressure on BOP Taka continued to depreciate in the past week on the foreign-exchange market, ramping up the already high rate of inflation and intensifying the pressure on the country’s balance of payments. Among the major world currencies, the exchange rate of US dollar had advanced over the week from around ... Read more
BB opens up online money transfer, partly
The central bank has partly freed up foreign exchange transactions by approving online transfer of funds for academic purposes by credit card. Also, foreign professionals and scientific institutions here will be able to remit “membership fees” abroad online, Bangladesh Bank said in a statement
Turnover hits multi-month high
Turnover on Dhaka Stock Exchange rose to its highest since December 30 after investors bought heavily into the market hoping that stocks will continue to gain. Turnover on the country’s premier bourse stood at Tk 1,683 crore, up from the previous day’s Tk 1,480. DSE had its previous best transaction of shares worth Tk 1,783 ... Read more
Stocks rise for seventh day
Stocks gained for a seventh day as investors went on a buying spree to cash in on the lower price earnings ratio of individual sectors. The benchmark general index of Dhaka Stock Exchange, DGEN, rose 48 points or 0.78 percent to 6,562. On the port city’s bourse, the selective categories index of Chittagong Stock Exchange, ... Read more
Export earning target set at $26.36b
The target of the country’s export earnings for the current fiscal year has been set at $26.36 billion which is 15 per cent higher than the export earnings in the just concluded 2010-2011 financial year. A meeting at the commerce ministry on Tuesday set higher export target for the current financial year of 2011-2012 at ... Read more
Social business for solving others’ problems: Yunus
Nobel Laureate Muhmmad Yunus said on Tuesday that social business was aimed at solving others’ problems by investing funds and getting back the capital without any profits. The people involved in the traditional business are for only making profits but the social business is driven by social consciousness for solving others’ problems, said Yunus at ... Read more