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The Financial Express

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Weekly market review:  Stocks' rout deepens on sell-offs

Weekly market review: Stocks' rout deepens on sell-offs

BABUL BARMAN 2022-07-30 10:01:41

Stocks continued their downtrend, tumbling for the fourth consecutive week to Thursday as growing concerns over an economic slowdown sapped investor sentiment. Market operators said panic-stricken in...

Bangladesh, Uzbekistan agrees to re-start direct flights

Bangladesh, Uzbekistan agrees to re-start direct flights

FE ONLINE REPORT 2022-07-29 18:57:30

Uzbekistan agreed to start Dhaka-Tashkent direct flights, and to ease the procedure to issue visas to Bangladeshis, foreign minister Dr AK Abdul Momen said on Friday. ‘Both the countries agreed...

Bangladesh, UAE agree to boost bilateral ties

Bangladesh, UAE agree to boost bilateral ties

-- 2022-07-29 17:16:25

Bangladesh and the United Arab Emirates (UAE) have discussed a roadmap for future cooperation agenda, including high-level visits to mark the Golden Jubilee of Bangladesh-UAE diplomatic relations in 2...

Bangladesh seeks $2.0b from World Bank, ADB to stabilise economy

Bangladesh seeks $2.0b from World Bank, ADB to stabilise economy

FE ONLINE DESK 2022-07-29 10:43:38

The government has requested $2.0 billion from the World Bank and the Asian Development Bank in budget aid to prop up the economy on the edge due to the Ukraine-Russia war following the pandemic. Ban...

BSEC imposes floor prices again

BSEC imposes floor prices again

FE REPORT 2022-07-29 08:59:21

The securities regulator has further imposed floor prices to contain free fall of listed securities after the key index dropped below 6000-point mark on Thursday amid investors' lower participations....

Bangladesh Bank raises farm loan disbursement target by 8.88pc

Bangladesh Bank raises farm loan disbursement target by 8.88pc

-- 2022-07-28 18:25:47

Bangladesh Bank (BB) has raised the agriculture and rural loan disbursement target by 8.88 per cent to Tk 0.30 trillion for the current 2022-23 financial year (FY23). The disbursement target for the...

Bangladesh receives €2.0m EU support to strengthen social security

Bangladesh receives €2.0m EU support to strengthen social security

-- 2022-07-28 18:07:09

The European Union (EU) has transferred EUR 2.0 million (around Tk 200 million) to the government of Bangladesh to strengthen key areas of its social security system. It has a specific focus on stren...

DSE key index sinks below 6000-mark

DSE key index sinks below 6000-mark

FE ONLINE REPORT 2022-07-28 16:18:26

Stocks tumbled further on Thursday with the benchmark index of the Dhaka Stock Exchange falling below the ‘psychological’ threshold of 6,000-mark after 15 months. The market opened on a s...

Mongla port flags off its first garment shipment, paving way for new exports

Mongla port flags off its first garment shipment, paving way for new exports

-- 2022-07-28 14:54:28

For the first time, a shipment of garments produced in Bangladesh has been shipped abroad from Mongla port, opening a new avenue for the export sector in the country, bdnews24.com reports. The Maersk...

PM stresses export instead of remittance to earn foreign currencies

PM stresses export instead of remittance to earn foreign currencies

-- 2022-07-28 13:44:07

Prime Minister Sheikh Hasina has underlined the need for focusing on export to earn foreign currencies instead of depending on remittance, BSS reports. "We have to more focus on export to earn foreig...

Stopgap Sohan waits for Shakib

Stopgap Sohan waits for Shakib

Neel Rahman 2022-07-28 13:18:52

Nurul Hasan Sohan’s appointment as the new skipper of the Bangladesh national T20I team did not come as a surprise, especially after Mahmudullah Riyad’s downhill performances for about a y...

DSEX slump below 6000-mark at opening

DSEX slump below 6000-mark at opening

FE ONLINE REPORT 2022-07-28 12:20:33

Stocks slumped at opening on Thursday with the key index of the prime bourse slumping below the 6000-mark again, as the jittery investors went on sell-off again amid growing tension over macroeconomic...

Bangladesh reports record $10 billion foreign funds in FY22

Bangladesh reports record $10 billion foreign funds in FY22

-- 2022-07-28 11:59:56

Development partners and donor countries have released more than $10 billion in loans and aid to Bangladesh in 2021-22, a record for a financial year in the country’s history. Bangladesh brough...

Private sector investment a must to capitalise Padma Bridge's benefits

Private sector investment a must to capitalise Padma Bridge's benefits

FE REPORT 2022-07-28 10:02:27

More investments are needed from the private sector to capitalise the opportunities created through the construction of Padma Bridge. Prime Minister's Economic Affairs Adviser Dr Mashiur Rahman said...

Annual debt servicing crosses $2.01b

Annual debt servicing crosses $2.01b

FHM HUMAYAN KABIR 2022-07-28 09:09:23

Bangladesh's debt servicing crossed US$2.01 billion in the last fiscal year as payment for some previously borrowed big loans began, officials say, amid reported strains on the country's foreign-excha...

Kamal denied need for IMF loan for 'strategic reason'

Kamal denied need for IMF loan for 'strategic reason'

FE REPORT 2022-07-28 09:00:26

Finance Minister A H M Mustafa Kamal Wednesday admitted seeking loans from the International Monetary Fund (IMF), although last week he denied any intention to take loans immediately. "If I expose...

Policing forex mkt cools dollar price

Policing forex mkt cools dollar price

SIDDIQUE ISLAM 2022-07-28 08:58:15

An eventual policing drive against suspected manipulators brought down the overheating cash-dollar price on the open market that hit Tk 112 Tuesday amid growing concerns about Bangladesh's foreign-e...

BPC, energy ministry dismiss reports on fuel shortages

BPC, energy ministry dismiss reports on fuel shortages

-- 2022-07-27 23:32:33

The chief of Bangladesh Petroleum Corporation (BPC) has dismissed news reports indicating that the government initiated a rationing system at the consumer level due to a shortfall. BPC is a governmen...

IMF says it stands ready to support Bangladesh

IMF says it stands ready to support Bangladesh

-- 2022-07-27 22:42:18

The International Monetary Fund (IMF) said on Wednesday it would discuss with Bangladesh its loan request after the country became the third in South Asia to seek such support after Pakistan and Sri L...

Bangladesh Bank asks banks to stop buying cars, cut operating and development costs

Bangladesh Bank asks banks to stop buying cars, cut operating and development costs

-- 2022-07-27 22:28:27

The Bangladesh Bank has ordered all commercial banks to reduce development and operating costs, and stop buying cars in an effort to save precious US dollars and fuel. The central bank on Wednesday a...

IMF says Bangladesh seeks loan under fund’s Resilience and Sustainability Trust

IMF says Bangladesh seeks loan under fund’s Resilience and Sustainability Trust

-- 2022-07-27 20:22:30

An official of International Monetary Fund has said Bangladesh asked the fund to start talks on a new loan under the creditor's Resilience and Sustainability Trust (RST). According to Reuters, IMF's...

Finance minister says remittances, exports to offset dollar shortage

Finance minister says remittances, exports to offset dollar shortage

-- 2022-07-27 19:48:42

Finance Minister AHM Mustafa Kamal says fraudulent imports are exacerbating higher dollar prices along with inconsistency in demand and supply of the currency. He also expressed his hope that remitta...

Purchase committee approves six proposals involving Tk 23.06 billion

Purchase committee approves six proposals involving Tk 23.06 billion

-- 2022-07-27 18:00:44

The Cabinet Committee on Government Purchase (CCGP) has approved a total of six proposals worth Tk 23.06 billion. The committee approved separate proposals for procuring some 0.13 million tonnes of f...

Finance minister defends IMF loan obscurity as a strategy

Finance minister defends IMF loan obscurity as a strategy

-- 2022-07-27 17:06:17

Finance Minister AHM Mustafa Kamal says Bangladesh has sent a letter to the International Monetary Fund asking for a loan and that earlier denials on the matter were just part of the government's stra...

RMG exporters brace for slowdown after Walmart warning

RMG exporters brace for slowdown after Walmart warning

-- 2022-07-27 16:41:48

After recovering swiftly from the havoc caused by the COVID-19 pandemic, Bangladeshi garment manufacturers are now anticipating a slowdown as sales at key customers such as Walmart are hit by a spike...

Stocks tumble after two-day break

Stocks tumble after two-day break

FE ONLINE REPORT 2022-07-27 15:26:47

Stocks plummeted on Wednesday after two-day short-lived, as panic-driven investors dumped their holdings amid growing tension over macroeconomic cues. The market saw a sharp decline at the opening an...

Bourses drop at opening

Bourses drop at opening

FE ONLINE REPORT 2022-07-27 11:33:35

Stocks slumped at the opening on Wednesday as the jittery investors went on a sell-off again amid growing tension over macroeconomic cues. DSEX, the prime index of the Dhaka Stock Exchange (DSE), wen...

Brokers for amending existing book-building system

Brokers for amending existing book-building system

FE REPORT 2022-07-27 10:08:02

DSE Brokers Association of Bangladesh (DBA) has demanded amendment of current book-building system. Terming the existing system faulty, they urged the authorities concerned to amend the bidding syste...

US dollar hits record Tk 112 in kerb mkt

US dollar hits record Tk 112 in kerb mkt

FE REPORT 2022-07-27 09:02:36

The Bangladeshi Taka (BDT) continued its slide against the US dollar (US$) on Tuesday, with the international currency hitting an all-time high of Tk 112 each in the kerb (open) market. According t...

IMF advises avoiding forex 'misclassification'

IMF advises avoiding forex 'misclassification'

SIDDIQUE ISLAM 2022-07-27 08:48:12

Bangladesh has assured the International Monetary Fund (IMF) of complying with latest global standards of reporting foreign-exchange reserves, officials say, as an IMF mission mentioned 'miscalculatio...