DIL’s Q2 earnings double
Business Desk
The Q2 (April-June) earnings of Dhaka Insurance Limited has increased by 112.76%.
In a filing with Dhaka Stock Exchange on Monday, the company said that its earnings per share (EPS) was Tk1.00 for the Q2 of 2021 as against Tk0.47 for the Q2 of 2020.
Meanwhile, its net asset value (NAV) per share, with revaluation, was Tk31.56 as of June 30, 2021, and Tk31.61 as of June 30, 2020, Without revaluation, NAV per share was Tk20.93 as of June 30, 2021, and Tk20.98 as of June 30, 2020.
The insurance company last offered a 20% cash dividend to its shareholders back in the year 2020. The closing price of each of its shares was Tk83.5 during Monday’s session.
Huawei kicks off ‘Seeds for the Future 2021 BD’
Business Desk
Huawei Technologies (Bangladesh) Limited launches ‘Seeds for the Future 2021 Bangladesh’, for the seventh year in Bangladesh, to inspire ICT talents who will shape the future of Bangladesh. The announcement comes through a virtual inauguration event on Monday.
State Minister for Information and Communication Technology Division Zunaid Ahmed Palak graced the virtual inauguration ceremony as the chief guest. Dr. Md. Rafiqul Islam Sheikh, Vice-Chancellor, Rajshahi Universiry of Engineering and Technology; Dr. Muhammad Fazli Ilahi, Vice-Chancellor, Ahsanullah Universiry of Engineering and Technology; George Lin, President, Enterprise Business Group, Huawei Technologies (Bangladesh) Limited also joined the event with other high officials. Dr. Mohammad Rubaiyat Tanvir Hossain, Head of EEE, Chittagong Universiry of Engineering and Technology presented the keynote on ICT talent development and ‘Seeds For The Future’, said a press release.
EBL concludes first SOFR-based deal with Wells Fargo
Business Desk
Eastern Bank Limited has taken SOFR-based trade loan recently from Wells Fargo Bank.
This is the first SOFR-based transaction in Bangladesh market for the lender.
Under the deal, Wells Fargo, Singapore has extended a trade loan facility for 180 days to EBL where SOFR has been taken as the US Dollar benchmark rate instead of LIBOR. As the publication of most tenors of the London Interbank Offered Rate (LIBOR) is expected to cease by the end of 2021, financial market participants across the globe are now gradually moving to risk-free interest rates.
The Secured Overnight Financing Rate (SOFR) is a broad measure of the cost of borrowing cash overnight collateralized by treasury securities.
