Business Desk :Stocks extended their gaining streak for the third consecutive session Monday, with the key index of the Dhaka Stock Exchange (DSE), crossing the 6,600-mark after four months.DSEX, the key index of the DSE (DSE), went up by 65.74 points or 1.0 per cent to settle at 6,600.88. DSEX added 113 points in the past three trading days.Turnover, a crucial indicator of the market, jumped to Tk 19.90 billion on the premier bourse, which was 10 per cent higher...
Business DeskThe Bangladesh Securities and Exchange Commission (BSEC) sought access to the database of the Registrar of Joint Stock Companies and Firms (RJSC) so that it can easily verify information of companies which want to raise funds from the capital market.The securities regulator recently sent a letter to the RJSC to this end, in which it also expressed interest to provide technical support if necessary.The commission officials said they often struggle to verify the authenticity of information submitted by companies...
Staff Reporter :The driving forces belonging to Basundhara Group are used to holding the basic qualities such as knowledge of business, accuracy, time befitting and foresightedness, alertness, honesty and morality, innovative intiative and capacity to make decision, ability to operate, consistence and dependability, pragmatic energy and individual quality.The driving persons in the group are aware enough of the aims and objectives of their business. In addition, the knowledge of business is to be supplemented by knowledge of finance, marketing and...
Reuters, Tokyo :The dollar lingered near a two-decade top on major peers on Monday, ahead of a week loaded with market holidays and central bank decisions from Washington to London and Tokyo.The dollar index, which measures the currency against six counterparts, was 0.2 per cent stronger than Friday at 109.84, consolidating after a volatile couple of weeks that took it as high as 110.79 on Sept. 7 for the first time since mid-2002.Investors have scrambled to price in higher US...
Business DeskThe 154th Board Meeting of Uttara Finance and Investments Limited (UFIL) has been held at its head office in the capital recently. Rashidul Hasan, Chairman of the board of directors presides over the event, said a press release. The meeting approved different business proposals of the company for the last quarter of the year 2022. Further, the board also put emphasis on completing the annual accounts and balance sheet for the previous years.Matiar Rahman, Vice Chairman of the company...
Business Desk :Despite continued growth and huge prospects of the livestock sector, financing by banks to boost investment in farming remains low.Dairy, poultry and other livestock farmers got 14 per cent of total Tk 26,500 crore loans disbursed by banks for the farm sector in the fiscal year 2020-21.The amount of loan going to marginal farmers from financial institutions is very low. There is also an absence of livestock insurance, said Md Ainul Haque, former director general of the Department...
Economic Reporter :The Bangladesh Bank has declared 43 products eligible to receive government incentives or monetary support against export earnings in the current fiscal year of 2022-2023.Exporters would receive cash incentives at the rate of 1 per cent to 20 per cent as they received in the past financial year, according to a Bangladesh Bank circular issued on Monday.The export of processed products from 100 per cent halal meat will be eligible for the cash incentive. While individual freelancers are...
Business Desk :Bangladesh received inward remittance worth over $1.0 billion US dollars in the first 15 days of September, amid the forex crisis in the country.Bankers said remittance inflow shows an upward trend as the remitters are encouraged by the depreciation of the taka and they get more than Tk 108 per dollar.The remittance inflow is expected to cross $2.0 billion in September.Bangladesh received remittances of $2.09 billion in July and $2.03 billion in August, which became a blessing amidst...
Business Report :Shares on the Dhaka and Chattogram stock exchanges continued their bull run on Tuesday on the back of a fuel price cut, albeit marginally.On Monday, the government slashed the fuel prices by Tk 5 per litre in line with the 11.25 percentage points cut in the import duty of diesel by the National Board of Revenue.From on Tuesday, the retail price of diesel and kerosene stood at Tk 109, petrol Tk 125 and octane Tk 130. The price...
Business Desk :The owners of private inland container depots (ICDs) on Tuesday revised down tariffs for all the five types of services in container handling a day after the latest government move to trim fuel prices.On Monday, the government announced cutting diesel price by Tk 5 per litre and the next day the members of Bangladesh Inland Container Depots Association (BICDA) in a virtual meeting decreased their charges by 3.5 to 5 per cent from the recently increased rates.BICDA Secretary...
Business Desk :The Bangladesh Trade and Tariff Commission (BTTC) will fix the prices of nine commodities soon so that nobody can make a brisk business taking the advantage of the current situation, Commerce Minister Tipu Munshi said on Tuesday.The commodities are rice, flour, flour (fine), edible oil, sugar, lentil, onion, mild steel (MS) products and cement.The minister also warned of taking stern action against the businessmen who will be involved in price manipulation of basic commodities in the local markets.He...
Business Desk :FBCCI President Md Jashim Uddin on Tuesday said the readjustment of fuel prices would decrease the pressure on the national economy.The head of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) welcomed the decision of price reduction of diesel, kerosene, petrol, and octane just a day after the government cut the import tariff and withdrew advance duty.The country’s apex trade body chief thanked Prime Minister Sheikh Hasina for the readjustment of fuel prices in the public...
Staff Reporter :Leaders of the Institution of Diploma Engineers, Bangladesh (IDEB) on Tuesday said the country’s population will be around 250 million by 2030 and around 120 million people would be entered into the labour market by the period.But there is no specific plan to create employment for the huge number of employable people of the country, it saidIDEB leaders came up with the information at a press conference held at IDEB’s Bhaban in the capital’s Kakrail ahead of their...
Reuters, Singapore :The US dollar surged to a 20-year high against a basket of currencies on Monday after Federal Reserve Chair Jerome Powell signalled interest rates would be kept higher for longer to bring down soaring inflation. The dollar index scaled to a fresh two-decade peak of 109.44 in the Asia trade, with greenback strength pushing other major currencies to new lows and putting pressure on its emerging markets counterparts. The dollar hit 138.88 against the Japanese yen , the...