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Weekly market review: Free fall of index creates panic

Weekly market review: Free fall of index creates panic

FE Report 2020-01-11 10:45:08

Dhaka bourse closed the week with the highest single week fall in core index since 2013 following investors' panic sales executed in all sessions amid lack of confidence. The core index also hit the...

Deficit financing widens by 130pc in four months

Deficit financing widens by 130pc in four months

JASIM UDDIN HAROON 2020-01-11 09:53:25

The government's deficit financing grew by 130 per cent in the first four months of the current fiscal year compared to that of the same period of last fiscal, driven by a fall in resource mobilisatio...

WB projects 7.2pc GDP growth for Bangladesh in FY20

WB projects 7.2pc GDP growth for Bangladesh in FY20

UNB 2020-01-10 17:13:29

The World Bank has projected 7.2 per cent GDP growth for Bangladesh in the current fiscal year, FY 2019-20, while 7.3 per cent in the following fiscal year. Bangladesh, the third-largest economy in t...

Selling pressure continues on DSE

Selling pressure continues on DSE

FE Report 2020-01-10 10:40:03

The core index of Dhaka bourse on Thursday settled below 4200 points after losing 262 points in five sessions in a row amid investors' panic sales executed throughout the week. The Dhaka Stock Exchan...

NBR cancels transfer, posting, promotion of 350 officials

NBR cancels transfer, posting, promotion of 350 officials

FE Report 2020-01-10 10:33:31

The National Board of Revenue (NBR) has cancelled all the orders and circulars for transfer, posting and promotion of nearly 350 officials of the customs, VAT and income tax wings. The NBR cancelle...

100,000 Bangladeshi workers deported from abroad in 2019

100,000 Bangladeshi workers deported from abroad in 2019

ARAFAT ARA 2020-01-10 10:07:59

More than 100,000 Bangladeshi workers were sent back from abroad last year due to a host of reasons such as overstay and scarce jobs. Of the total, some 62,000 workers were deported from different co...

10 cos account for 35.51pc of DSE

10 cos account for 35.51pc of DSE

FE Report 2020-01-09 11:40:07

Ten most traded stocks accounted for 35.51 per cent of transactions on the Dhaka Stock Exchange (DSE) on Wednesday, with Standard Ceramic Industries generating the highest turnover. The total turnove...

BB releases e-KYC guideline

BB releases e-KYC guideline

JASIM UDDIN HAROON 2020-01-09 11:37:50

The central bank of Bangladesh issued a circular on Wednesday pertaining to e-KYC (know your customer) applied to the country's financial institutions. The Bangladesh Bank (BB) released an e-KYC gu...

BD has enough room to gain in IT era, says economist

BD has enough room to gain in IT era, says economist

FE REPORT 2020-01-09 11:33:36

Emerging economies like Bangladesh can benefit to a great extent from the rapid global changes against backdrop of information technology (IT)-based services, Italian economist Nicolo Andreula has obs...

Only six China-funded projects roll so far

Only six China-funded projects roll so far

MIR MOSTAFIZUR RAHAMAN 2020-01-09 09:53:12

After a lapse of three years into signing a deal with China for executing $20 billion worth of 27 projects, only six has got going as of December 2019. Even Bangladesh has received only $904.50 milli...

Trade deficit ups slightly in July-Nov

Trade deficit ups slightly in July-Nov

FE Online Report 2020-01-08 12:30:39

Country’s bilateral trade deficit with the rest of the world increased slightly in the first five months of the current fiscal year (FY20), according to the provisional statistics of the centr...

Walton to raise Tk 1.0 billion under book building method

Walton to raise Tk 1.0 billion under book building method

FE Report 2020-01-08 12:00:57

Walton Hi-Tech Industries will raise a capital worth Tk 1.0 billion under book building method to expand business and repay bank loans. The Bangladesh Securities and Exchange Commission (BSEC) on Tue...

DSE loses Tk 710b in a year

DSE loses Tk 710b in a year

-- 2020-01-08 11:33:17

A rapid fall in share prices has wiped out around Tk 710 billion in market capital from the Dhaka Stock Exchange (DSE) in a year. Its main index, DSEX, shed 50 points to 4,281 on Tuesday following...

1.0pc cash incentive on FoB for RMG exporters

1.0pc cash incentive on FoB for RMG exporters

FE Report 2020-01-08 11:17:21

All readymade garment (RMG) exporters will receive 1.0 per cent cash incentive on freight on board (FoB) with effect from July 01, 2019. To this end, Bangladesh Bank issued a circular on Tuesday. Th...

ADP execution 26pc in first half

ADP execution 26pc in first half

FE REPORT 2020-01-08 10:39:28

The government agencies' execution of projects in the first half of this fiscal is poor as they spent only 26 per cent of the annual development programme (ADP). They utilised 27 per cent of the Tk 1...

Average inflation up, marginally, in 2019

Average inflation up, marginally, in 2019

FE REPORT 2020-01-08 10:07:07

The average inflation rate has increased by 0.04 percentage points for the 12 months in the just-concluded year 2019 to 5.59 per cent due to some volatility in commodity markets in the country, offici...

H1 corporate taxes from large units miss target by Tk 5.67b

H1 corporate taxes from large units miss target by Tk 5.67b

DOULOT AKTER MALA 2020-01-08 09:50:45

At least five large commercial banks paid less in corporate tax in the last fiscal year than that of the previous year, thus, adding to the woes of the National Board of Revenue (NBR). The five were...

Govt sets RMG export target at $50b in FY21

Govt sets RMG export target at $50b in FY21

BSS 2020-01-07 16:35:38

The government has set a target of $50.0 billion readymade garment (RMG) export in 2020-21 fiscal year in line with its commitment to enhance earnings from the sector in the ruling Awami League’...

Living cost rises 6.5pc in 2019: CAB

Living cost rises 6.5pc in 2019: CAB

FE Online Report 2020-01-07 13:05:01

Living costs increased by 6.5 per cent in Dhaka in the just ended calendar year 2019, which was 6.0 per cent in 2018, Consumers Association of Bangladesh (CAB) study has revealed. According to the st...

LafargeHolcim grabs top position

LafargeHolcim grabs top position

FE Report 2020-01-07 11:10:36

LafargeHolcim Bangladesh on Monday topped the charts of most traded stocks and top gainers as well on the Dhaka Stock Exchange (DSE). The company featured a turnover of above Tk 262 million and hoove...

VAT waiver of land mutation fees likely

VAT waiver of land mutation fees likely

FE REPORT 2020-01-07 10:49:11

The government is considering exempting 15 per cent VAT on land mutation fees as its justification has come into question. There is one kind of tax, which the local government department collects as...

After reserves, hackers now target export proceeds

After reserves, hackers now target export proceeds

FE Report 2020-01-07 10:16:55

The central bank has asked all banks to remain cautious about fraudulent emails, seeking transfer of export payment from foreign buyers. Bangladesh Bank, in a notice issued on Sunday, said besides do...

BSEC high official gets CGIA fellowship

BSEC high official gets CGIA fellowship

FE Report 2020-01-06 11:36:49

Professor Md. Helal Uddin Nizami, a commissioner of the Bangladesh Securities and Exchange Commission (BSEC), has been awarded a fellowship by New York-based Chartered Global Investment Analyst (CGIA)...

KPCL tops turnover chart

KPCL tops turnover chart

FE Report 2020-01-06 11:34:54

Top 10 traded stocks contributed 29 per cent in market turnover featured by Dhaka Stock Exchange (DSE) on Sunday. On the day, the turnover on the DSE declined 24 per cent to close at Tk 2.92 billion...

ADN Telecom makes debut

ADN Telecom makes debut

FE Report 2020-01-06 11:33:04

Trading of the shares of ADN Telecom has started today (Monday) on both the bourses under 'N' category. The ADN Telecom, which raised a capital worth Tk 570 million through book-building method, rece...

$10m fund set up to boost exports

$10m fund set up to boost exports

FE REPORT 2020-01-06 10:44:43

A $10-million financial grant, Export Readiness Fund (ERF), was launched on Sunday to rev up export earnings of the country's four target sectors. The fund is rolling out under the Export Competitive...

Lending, deposit interest rates: BB asks committee for fresh report

Lending, deposit interest rates: BB asks committee for fresh report

SIDDIQUE ISLAM 2020-01-06 10:22:18

A central bank committee has been reassigned to prepare a fresh report on single-digit interest rates on both lending and deposit after reviewing the overall banking situation. It has also been asked...

Private sector to be allowed to set up finance cos

Private sector to be allowed to set up finance cos

JASIM UDDIN HAROON 2020-01-06 10:07:11

The government is preparing a new law that will allow establishment of finance companies in the private sector in the country. Such finance companies will mainly focus on 'development financing' and...

'Move to send 750,000 workers aboard in Mujib Year'

'Move to send 750,000 workers aboard in Mujib Year'

BSS 2020-01-05 20:32:59

Expatriates’ Welfare and Overseas Employment Minister Imran Ahmad on Sunday said the government has set a target to send 750,000 workers aboard in the ‘Mujib Year’. “Skilled w...

Manpower export awaits 'big boost' in 2020

Manpower export awaits 'big boost' in 2020

UNB 2020-01-05 16:58:36

The government is planning to send more workers abroad in 2020 as some closed labour markets are expected to reopen this year. The Bureau of Manpower, Employment and Training (BMET) says, Bangladesh...