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Taka School, Dhaka (2026)

13/09/2023

👉BoP situation keeps worsening
"Bangladesh watches its balance-of-payments situation weakening further with balance of financial account dipping, with its negative impact on production and inflation, according to latest available statistics.

High import costs for recurrent taka devaluation and lower export earnings widen the gaps between incomings and outgoings, as of July."

👉Offshore gas search uncertain, import dependence deepens
Launching long-awaited bidding for offshore hydrocarbon exploration seems uncertain before the next general election, slated for January 2024, sources said, while the country's fuel-import dependence increases.

👉Retail investors to get burnt by overvalued Legacy Footwear after rollout of new shares
"Retail investors, who jumped on Legacy Footwear after the April announcement that new shares would be issued, got it all wrong.

Though the disclosure said shares would be distributed among ""existing shareholders"", it was clear by the time that general investors would not be getting them as the company was not in a position to seek regulatory approval for issuing rights shares."

👉BD Lamps to set up production line to make parts of tube lights
"Bangladesh Lamps, widely known as BD Lamps, is going to set up a new production line to manufacture plastic parts of tube lights at its existing factory in Narsingdi's Shibpur.

In a stock exchange filing on Tuesday, the electric bulb producer said the estimated cost of the project would be Tk 111 million and the funds would be arranged through bank borrowings."

👉Shipbuilders get more time to regularise defaulted loans
"Shipbuilders have been granted another two and a half months or so to reschedule their defaulted loans through a 2.5 per cent down payment, according to a Bangladesh Bank (BB) notice yesterday.

The move comes a couple of days ahead of the expiry of a 90-day deadline set by the central bank in this regard in June."

👉পিকেএসএফের চেয়ারম্যান হলেন ড. খায়রুল হোসেন
"পুঁজিবাজার নিয়ন্ত্রক সংস্থা বাংলাদেশ সিকিউরিটিজ অ্যান্ড এক্সচেঞ্জ কমিশনের (বিএসইসি) সাবেক চেয়ারম্যান ড. এম খায়রুল হোসেন পল্লী কর্ম-সহায়ক ফাউন্ডেশনের (পিকেএসএফ) চেয়ারম্যান পদে নিয়োগ পেয়েছেন। তিনি আগামী ৩ বছর এ পদে দায়িত্ব পালন করবেন।

অর্থ মন্ত্রণালয়ের আর্থিক প্রতিষ্ঠান বিভাগ মঙ্গলবার (১২ সেপ্টেম্বর) এ বিষয়ে একটি প্রজ্ঞাপন জারি করেছে।"

👉Commercial Bank of Ceylon allowed to seize Eastern Insurance directors’ shares
"The Dhaka Stock Exchange (DSE) has allowed the Commercial Bank of Ceylon to confiscate 7,53,900 shares of three directors of Eastern Insurance Company Limited for defaulting on a Tk5 crore loan.

Earlier, Umme Kulsum Mannan, a sponsor-director of Eastern Insurance, Sunman Sweaters, director, and Alfa Textiles, a public shareholder director had taken the loan in lien of the said shares."

👉3i asset management plans to introduce mutual funds
"The 3i Asset Management Company, a new-generation asset manager, is planning to manage an open-end mutual fund with a target size of the fund of Tk25 crore.

As a sponsor, the asset manager will provide 10% of the total fund, and the remaining will be collected from public subscriptions."

👉মূল্যস্ফীতি ১০ শতাংশের নিচে রাখাই আমাদের সফলতা: পরিকল্পনা প্রতিমন্ত্রী
১০ শতাংশের নিচে মূল্যস্ফীতি রাখাকেই বড় সাফল্য মনে করছে সরকার। পরিকল্পনা প্রতিমন্ত্রী শামসুল আলম বলেছেন, ‘রাশিয়া-ইউক্রেন যুদ্ধসহ বৈশ্বিক প্রেক্ষাপটের কঠিন সময়ে মূল্যস্ফীতি ১০ শতাংশের নিচে রাখাই আমাদের সফলতা। গত এক বছরে অনেক নীতি নিয়েছি এবং তা কাজ করেছে বলে মূল্যস্ফীতি এক অঙ্কের ঘরে আছে। তা না হলে মূল্যস্ফীতি ১৩-১৪ শতাংশ হতো। মূল্যস্ফীতি কমতে সময় লাগে।’

👉If we fall into 'Middle-income trap' Bangladesh will not become developed nation by 2041: Salman F Rahman
"Highlighting tremendous success achieved over the last 15 years, Prime Minister's Adviser Salman F Rahman on Tuesday laid emphasis on joint efforts to address the challenges ahead to avoid the middle-income trap.

""If we fall into the middle-income trap, we will not be able to achieve our goal of becoming a developed nation by 2041,"" he said at a report launching ceremony at a city hotel. "

👉Deferred LCs hit record $1b in July as banks lack dollar
As the dollar crisis continues, banks are opening more and more LCs on terms of deferred payments, an arrangement where they pledge to pay the exporters much later after the goods arrive. The importers who are now forced to opt for deferred payments for the dollar crisis are counting hefty extra costs for the facility, and yet this is the best option available to them if they have to keep their business running.

👉Auditor unearths huge anomalies in Padma Islami Life
"The auditor of Padma Islami Life Insurance has not found necessary documents in favour of the financial information what the life insurer has presented in its financial statement for the year ended in December 2022.

In this situation, the publicly traded company’s auditor has expressed concerns how the insurer would continue its operations without ensuring financial transparency."

12/09/2023

👉BB feeding funds to banks thru repo, liquidity support, IBLF
"Funds are being funneled into the banking system through increased credits under repo, liquidity support and IBLF in the regulator's bid to stem call-money-rate overshooting, sources say.

Economists, as such, raise alarm about inflation spikes as Bangladesh Bank's liquidity support to the commercial banks continues rising to a large extent that helps the central bank to keep the interbank call-money rate under the policy rate."

👉Beximco Pharma faces EU export restrictions on ophthalmic plant's design concerns
"Beximco Pharmaceuticals faces a ban on export of eye drops for glaucoma to the European market over concerns tied to the manufacturing plant in Bangladesh.

The drug maker listed in Bangladesh's stock market and London Stock Exchange should be barred from supplying its timolol and latanoprost prescription eye drops to the European Union and European Economic Area ""on the back of facility design concerns"", as proposed by the Malta Medicines Authority (MMA) after an inspection."

👉HC upholds min portfolio of Tk 3m to qualify for trading in SME stocks
"The High Court has kept Tk 3 million as minimum investment to qualify for trading on the SME platform of the stock exchanges.

Now, an investor, who has been maintaining a portfolio of at least Tk 3 million in listed securities in any platform, can trade on the SME boards."

👉Govt turns to scheduled bank borrowing
The government borrowed Tk 18,805 crore from scheduled banks in the July-August period of FY24, and in the same period, it repaid Tk 22,088 crore in loans to the Bangladesh Bank.

👉How is life when inflation outpaces wage growth
Soaring food prices have placed a heavy burden on lower-income people, compelling them to spend a significant portion of their wages on groceries, when their income growth has significantly lagged behind the food inflation.

👉Troubled NBFI People's Leasing calls AGM after six years
Publicly listed People's Leasing and Financial Services Limited, a troubled non-bank financial institution (NBFI), has called its annual general meeting (AGM) after six years, following a directive from the High Court.

👉পদত্যাগ করা ব্যাংক এমডিদের সঙ্গে আলোচনা কেন্দ্রীয় ব্যাংকের
পদত্যাগ করা ব্যাংক ব্যবস্থাপনা পরিচালকদের (এমডি) সঙ্গে আলোচনা শুরু করেছে বাংলাদেশ ব্যাংক। এর অংশ হিসেবে আজ সোমবার সাউথ বাংলা অ্যাগ্রিকালচার অ্যান্ড কমার্স ব্যাংক (এসবিএসি) হাবিবুর রহমান ও পদ্মা ব্যাংকের এমডি তারেক রিয়াজ খানের সঙ্গে আলাদাভাবে আলোচনা করেছেন কেন্দ্রীয় ব্যাংকের গভর্নর আবদুর রউফ তালুকদার ও ডেপুটি গভর্নর আবু ফরাহ মো. নাছের। বাংলাদেশ ব্যাংকের গভর্নরের কক্ষে এই আলোচনা অনুষ্ঠিত হয়।

👉কার্ডে বৈদেশিক মুদ্রার খরচ এক বছরে বেড়ে দ্বিগুণ
বিদেশ ভ্রমণে নগদ বৈদেশিক মুদ্রার খরচের পাশাপাশি কার্ডেও বৈদেশিক মুদ্রার খরচের প্রবণতা বাড়ছে। নগদ নোট পরিবহনের ঝামেলা এড়াতে এখন অনেকেই বিদেশে গিয়ে কার্ডের মাধ্যমে খরচের বিল পরিশোধ করেন। এমনকি প্রয়োজন পড়লে বিদেশে বিভিন্ন ব্যাংকের এটিএম বুথ থেকে কার্ডের মাধ্যমে নগদ বৈদেশিক মুদ্রার উত্তোলন করেও কাজ সারা যায়। শুধু তা-ই নয়, এ ক্ষেত্রে বৈদেশিক মুদ্রার বিনিময় হারের ক্ষেত্রেও তুলনামূলক সুবিধা পান কার্ডের গ্রাহকেরা। আর নানা কাজে এখন মানুষের বিদেশ যাওয়াও বাড়ছে। সব মিলিয়ে তাই কার্ডের মাধ্যমে বৈদেশিক মুদ্রার খরচ দিন দিন বেড়েই চলেছে। তবে বৈদেশিক মুদ্রার ক্ষেত্রে সবচেেয় বেশি ব্যবহার হয় ডলার।

👉কাটেনি ডলার–সংকট, চাহিদা বেশি নগদ ডলারের
দেড় বছর আগে রাশিয়া-ইউক্রেন যুদ্ধ শুরু হওয়ার পর থেকে বাংলাদেশ ডলার-সংকট পড়ে। কারণ, তখন বৈশ্বিক বাজারে খাদ্যপণ্য ও জ্বালানির দাম বাড়তে শুরু করে। এতে আমদানি খরচ হঠাৎ করে বেড়ে যায়। ডলারের দাম তখন ছিল ৮৬ টাকা, যা বেড়ে এখন ১১০ টাকায় উঠেছে। বাংলাদেশ ব্যাংক তখন ডলারের দাম ধরে রেখেছিল। এখন অবশ্য ব্যাংকগুলো ডলারের দাম ধরে রাখছে। ফলে জোগান ও চাহিদার ভিত্তিতে এখনো নিয়মিত ডলারের দাম নির্ধারণ হচ্ছে না। তবে ডলারের যে প্রকট সংকট, তা কিছুটা কমে এসেছে। কারণ, ব্যাংকগুলোতে ডলারের সরবরাহ খানিক বেড়েছে।

👉Dhaka commits to buy 10 planes from Airbus
"Bangladesh has committed to buying 10 new A350 airplanes from Airbus, a multinational aerospace corporation, as the two countries forge a new strategic partnership.

""I thank you for your trust in the European aerospace industry. And this commitment for 10 Airbus A350 is important,"" Macron yesterday said at a joint media briefing after a meeting with Prime Minister Sheikh Hasina at the Prime Minister's Office in Dhaka."

👉Local firms equally dissatisfied with business climate
Like Japanese and Chinese companies operating in Bangladesh, domestic firms as well as those from other countries are not happy with the overall business climate in the country, said a number of entrepreneurs, heads of chambers and experts.

👉Miracle Industries stocks on rise as production to resume soon
"After making a big change on its board, Miracle Industries Limited, a publicly traded plastic packaging manufacturer, announced a plan last month that it would return to production by September 30.

The disclosure made investors upbeat about the problem-hit company because it has been out of production Since July 1 last year."

11/09/2023

👉Food inflation hits new high at 12.5pc
"Food inflation hits a new high at 12.54 per cent by latest official count as price rises look unstoppable on the wayward Bangladesh market, even as global dearth eases.

The August 2023 peak in the consumer price indices happens to be the highest in 12 years, according to statistics Bangladesh Bureau of Statistics (BBS) published Sunday."

👉Renata to launch Parkinson's drug in Germany in widening footprint in EU
"Renata Ltd has received approval for one of its brands to export medicines to Germany.

The permission enables its subsidiary company in Europe, Renata Pharmaceuticals Ireland to launch its first brand in Germany - Cabergoletten (Cabergoline 1mg and Cabergoline 2mg), a drug used to treat symptoms of Parkinson's disease."

👉Phoenix Finance's loss rises fourfold in 2022, leading to no dividend
"Phoenix Finance & Investments' losses increased fourfold year-on-year in 2022 due to higher provisioning and shrinking income from the ailing stock market.

The publicly traded non-bank financial institution suffered a loss of Tk 1.39 billion in 2022, according to a stock exchange filing on Sunday."

👉Can we learn anything from Sri Lanka?
Sri Lanka's worst economic crisis since its independence began in 2019. Experts attribute a plethora of reasons behind the crisis. First, after the end of the civil war in 2009, the country emphasised providing goods for the local market instead of trade, a decision that led to a continued trade deficit of more than $3 billion each year. Along with trade policies, tax cuts in 2019 led to a loss of government revenue of over $1.4 billion a year.

👉Trust Bank to buy 2.21cr shares of Trust Axiata Digital
"Trust Bank Limited (TBL) has decided to buy 2.21 crore ordinary shares of Trust Axiata Digital Ltd from Axiata Digital Services Sdn Bhd.

The board of the bank made the decision, according to a disclosure on the Dhaka Stock Exchange yesterday."

👉Forex reserve falls below $22 billion
"Bangladesh's foreign exchange reserves slipped below $22 billion today after the central bank cleared import bills worth $1.36 billion through the Asian Clearing Union (ACU).

The ACU is an arrangement for settling payments for intra-regional transactions among eight countries."

👉42 firms under Dhaka bourse scanner
"DSE findings so far

4 September: Team was sent to inspect factory of Northern Jute Manufacturing Company
5 September: Team was sent to inspect head office
Factory was found closed
A company named OMC Limited was found to be using Northern Jute's head office
The Dhaka Stock Exchange (DSE) is set to investigate the operational status of 42 listed firms and determine the reasons behind their non-compliance with the listing rules."

👉ফাঁদে আটকা পড়েছে রূপালী ব্যাংক
পর্যাপ্ত যাচাই-বাছাই ছাড়া ঋণ ও দুর্বল আর্থিক প্রতিষ্ঠানে বিনিয়োগের মাশুল দিচ্ছে রাষ্ট্রমালিকানাধীন রূপালী ব্যাংক। এসব ঋণ এখন আদায় করতে পারছে না। ফলে বাড়ছে ব্যাংকটির খেলাপি ঋণের পরিমাণ। গত জুলাই-জুন সময়ে খেলাপি ঋণ বেড়েছে ১ হাজার ৭৭৬ কোটি টাকা। গত জুন শেষে ব্যাংকটির ঋণের ১৮ শতাংশ খেলাপি হয়ে পড়েছে।

👉নতুন বিনিয়োগে স্থবিরতা, সম্প্রসারণেও ধীরগতি
সিকম ও সামুদা গ্রুপের যৌথ উদ্যোগে নারায়ণগঞ্জে প্রতিষ্ঠিত ডেলটা অ্যাগ্রো ফুড ইন্ডাস্ট্রিজ লিমিটেডে সয়াবিন বীজ মাড়াই করে প্রাণিখাদ্য ও সয়াবিন তেল উৎপাদন করা হয়। গ্যাস-সংযোগ না পেয়ে দীর্ঘদিন এই কারখানা চালু করা যায়নি। পরে অবশ্য বিকল্প ব্যবস্থায় এটি চালু হয়। কিন্তু চাহিদা অনুযায়ী কাঁচামাল ‘সয়াবিন দানা’ আমদানির ঋণপত্র খুলতে পারছে না প্রতিষ্ঠানটি। তাতে পুরোদমে চালানো যাচ্ছে না ওই কারখানা।

👉Savers reluctant to invest in deposit schemes
"The interest rate on bank deposits has not increased as much as demand.

According to the Bangladesh Bank data, 53 out of 61 banks do not offer their customers more than 6 per cent interest on deposits. Only two banks are offering above 7 per cent interest, which is not on par with the current inflation in the country."

👉3 Summit power plants get 5-year extension‍
"The government has renewed power purchase agreement with three power plants of Summit Power Limited for another 5-year term.

The power purchase agreement with Summit’s Ashulia, Chandina and Madhobdi power plants will be effective on a ‘no electricity no pay’ basis, as per a Dhaka Stock Exchange (DSE) filing."

10/09/2023

👉Reducing tax, fees in real estate sector
The outcome of the government's plan to mobilise an increased volume of revenues during the current financial year (FY) by raising the tax rates on registration of land and apartments might backfire. The registration tax rate for both has been doubled. In addition, a capital gain tax at the rate of 15 per cent is in place. The rate hike coupled with economic downturn has notably slowed down the land and apartment sales, leading to a reported decline in tax revenue mobilisation during the first two months of the current FY.

👉FTAs & PTAs: Bangladesh’s dilemma still on
The excitement over the country's graduation from the Least Developed Country (LDC) list has subsided for obvious reasons. If everything goes well, Bangladesh will formally come out of the LDC category by the end of 2026. Nepal and Lao PDR will also be graduated from the UN-defined category of the world's poorest nations.

👉SBAC Bank MD resigns
Habibur Rahman, managing director and CEO of South Bangla Agriculture and Commerce (SBAC) Bank, has resigned from his post citing personal reasons.

👉Summit Group to invest $3b in clean-energy push
Bangladesh's Summit Group plans to invest $3 billion in solar, wind and hydroelectricity generation projects in South Asia as part of its clean energy push and efforts to diversify its fossil fuel-based business, its chairman said on Friday.

👉BPC wants extra profit in new fuel pricing model
"As per the government’s promise, the adjustment of fuel oil prices may start by September in the domestic market in line with the global prices.

Bangladesh Petroleum Corporation (BPC), the country’s major fuel oil importer which is making a policy in this regard, wants to make an additional profit of Tk 10 per litre in the new model. "

👉Cenbank asks NBR to reconsider 20% tax on foreign loan interests
"The Bangladesh Bank has made a formal request to the National Board of Revenue (NBR) to reconsider the 20% ""withholding tax"" imposed on interest payments for foreign loans in the current budget, arguing that this tax would increase borrowing costs from foreign sources by one-fourth."

👉Did cash incentives for exports really work?
The government offers cash incentives in the range of 1% to 20% to a wide range of sectors to diversify export products and markets. This support is intended to encourage entrepreneurs to explore markets for mainly non-conventional items and find new markets for existing products. It is expected that the export sectors enjoying the cash support to offset cost burden and stay competitive in the global market will someday be able to stand on their own. But the reality is that most of the export sectors other than apparels could not demonstrate promising growth despite receiving cash support for years.

👉Loss-making Union Capital unable to pay dividends for years
"Union Capital Ltd, which posted profits for more than a decade after its listing in 2007, has been incurring losses for years and is unable to pay any dividends to its shareholders.

According to its financial statements, the non-bank financial institution (NBFI) ended its 12-year winning streak in 2019 and plunged into losses, with the trend persisting into the first half of this year."

👉Western Marine Shipyard put on auction
"Western Marine Shipyard Limited, listed on the capital market, has been put on auction as the export-oriented ship builder could not pay back money to its lender Dhaka Bank Limited.

In the auction notice published on 8 September, the bank invited interested buyers to submit tenders to buy the land by 5 October 2023."

👉এমারেল্ড, লিগেসি, মিরাকেল কী বার্তা দিচ্ছে শেয়ারবাজারের
দেশের শেয়ারবাজার কেমন চলছে, জানতে চান? তাহলে একবার ভালোভাবে ওপরের ছকটি দেখে নিন। কয়টি কোম্পানিকে চেনেন? এসব কোম্পানির কোনো পণ্য বা সেবার সঙ্গে কি আপনি পরিচিত? আপনার উত্তর যদি হ্যাঁ হয়, তাহলে আপনি দেশের বেসরকারি খাতের কোম্পানি ও ব্যবসা-বাণিজ্য সম্পর্কে নিশ্চিতভাবে অনেক বেশি খোঁজখবর রাখেন। আর যদি কোম্পানিগুলো বা তাদের কার্যক্রম সম্পর্কে আপনার খুব বেশি জানা না থাকে, তাহলে কয়েকটি তথ্য জেনে নিতে পারেন।

👉এ দেশে বিনিয়োগে বাধা কোথায়, জানালেন ব্যবসায়ীরা
বাংলাদেশে বিনিয়োগে বাধা কোথায়; তা উঠে এল দেশি-বিদেশি উদ্যোক্তাদের কণ্ঠে। কেউ বলেছেন এক যুগেও মেলেনি কারখানায় গ্যাস–সংযোগ। কেউ বলেছেন বিদেশি নাগরিকের কাজের অনুমতি (ওয়ার্ক পারমিট) পেতে দেরি হয়। কেউ বলেছেন বিদেশি উদ্যোক্তাদের জমির ইজারা পেতে জটিলতার কথা। কেউ জানিয়েছেন বন্দরে শুল্ক জটিলতার অভিজ্ঞতার কথা।

👉What clueless female investors reveal in regulatory queries that numbers don't tell
"Ismat Aara (not the real name) appeared clueless sitting in front of a panel of the securities regulator for a hearing on stock price manipulation.

Her BO (beneficiary owner's) account had been spotted among the investors' that had been involved in an episode of artificial price hike of a company through serial trading on the Dhaka Stock Exchange. But she was not aware of the transactions made using her account let alone why they had been made."

09/09/2023

👉Reserves decline may invite negative credit ratings
Bangladesh risks negative credit ratings for external finance factors, including sustained declines in foreign-exchange reserves, says global rating-agency Fitch Ratings.

👉Liquidity hardship haunts once-affluent Islamic banks
"Liquidity hardship haunts once-affluent Islamic banks in Bangladesh principally for directed lending of king's ransom apart from adversities in global ill time, sources say.

According to Bangladesh Bank's latest report, the excess liquidity of the country's Islamic banking system dropped significantly during the April-June 2023 period on a year-on-year basis."

👉Private credit plummets amid inflation-induced austerity
"Formal credit flow into private sector continues shrinking amid central bank's fist tightening to fight inflation through curtailing import with costly dollar, sources say.

Officials and bankers say private businesses also seem to be reluctant in taking funds from the banks in this election year to avoid possible poll-related instability."

👉Walton’s FY23 profit lowest since listing, on high forex loss, production cost
"The dollar gaining strength and runaway inflation coupled with costlier raw materials dragged the annual profit of the electronic giant -- Walton Hi-Tech Industries -- to its lowest in FY23 since listing in 2020.

The most-valued local company in terms of market-capitalisation reported a 36 per cent year-on-year decline in profit to Tk 7.83 billion for FY23."

👉Dhaka’s remittance inflow down 13.14% in FY23
"Five districts--Dhaka, Chattogram, Cumilla, Sylhet and Brahmanbaria-- are the top recipients of remittance in Bangladesh as these districts receive over half of remittances sent by migrant workers every year.

According to the Bangladesh Bank data, Dhaka saw a steep decline in the inflow of remittances in the last three fiscal years while remitters from the district earn the highest greenback every year."

👉যুক্তরাষ্ট্রে বাংলাদেশের পোশাক রপ্তানি কমেছে ২০%, কেমন করেছে অন্য দেশগুলো
যুক্তরাষ্ট্রের বাজারে বাংলাদেশের তৈরি পোশাক রপ্তানি চলতি বছরে এখন পর্যন্ত ঘুরে দাঁড়াতে পারেনি। গত জানুয়ারি থেকে জুলাই পর্যন্ত সাত মাসে দেশটিতে ৪৫৭ কোটি ডলারের পোশাক রপ্তানি করেছেন দেশের উদ্যোক্তারা। এই রপ্তানি গত বছরের একই সময়ের তুলনায় ১৯ দশমিক ৮২ শতাংশ কম।

👉Bangladesh enters the era of 350 cc motorcycles
"The government has granted approval for the introduction of motorcycles with engine capacities of up to 350 cc into the Bangladeshi market.

Taskeen Ahmed, vice chairman of IFAD Group, said the Ministry of Home Affairs granted final approval in this regard on Thursday."

👉Hike in bank interest rates likely
"Prime Minister's Private Industry and Investment Adviser Salman F Rahman hinted at the possibility of increase in the bank interest rates in the coming days as such rates have already gone up globally.

He, however, said the interest rates in Bangladesh will decline, once if the same decreases internationally."

👉৩৫০ সিসির মোটরসাইকেল চলাচলের অনুমতি, কী বলছে কোম্পানিগুলো
একাধিক প্রতিষ্ঠানের চাহিদার পরিপ্রেক্ষিতে অবশেষে দেশের সড়কে ৩৫০ সিসি (ইঞ্জিন ক্ষমতা) পর্যন্ত মোটরসাইকেল চলাচলের অনুমতি দিয়েছে স্বরাষ্ট্র মন্ত্রণালয়। এত দিন দেশে ১৬৫ সিসির ওপর মোটরসাইকেল বাজারে ছাড়ার সুযোগ ছিল না।

👉Deposit outflow reverses course back into banks
"Deposit outflow for trust deficit amid scams and for near-negative gains from savings begins reversing course back into banks, largely as rate rises provide the baits, sources say.

They say funds that flew out of the banks' vaults in recent times started returning back into the banking system as the volume of currency outside the banks dropped significantly in July 2023."

👉EIU puts Bangladesh after Pakistan, Sri Lanka in financial risk
"In Asia, Bangladesh is just behind Pakistan and Sri Lanka in terms of financial risk, signifying the potential for investment or business ventures to incur losses, according to the Economist Intelligence Unit (EIU).

07/09/2023

👉Look at graphs: Himadri sets a blatant example of price manipulation
"Himadri was Tk 4,085 a share at the end of the September 3 trading session on the Dhaka Stock Exchange (DSE). The very next trade on Tuesday pushed the stock up by 10 per cent, at which the circuit breaker kicked in to halt trading.

Only one share was traded in the stock's rise from Tk 4,085 to Tk 4493.5, a blatant example of stock price manipulation."

👉August import LC openings highest in last 5 months
"The opening of import letters of credit (LCs) in August was the highest in the last five months even though settlements decreased due to the ongoing dollar crisis.

According to central bank data, import LCs worth $5.59 billion were opened in August, the second month of the current fiscal year.

LC opening has been dwindling since March, which saw $5.79 billion worth of LCs, hitting a three-year low of $4.23 billion in June, the last month of the last fiscal year. But imports started to pick up in the new fiscal year."

👉Taka weakens further as cenbank seeks to align dollar rates
"The central bank has raised the selling rate of dollar from reserves by Tk0.50 to Tk110 in an attempt to align the rate with that in the local market.

Consequently, the taka has depreciated against the dollar four times since July in the current fiscal year. Despite these adjustments, however, the disparity between the market and interbank rates persists, compelling the central bank to actively intervene in the currency market to stabilise it.

The intervention has also had a noticeable impact on the foreign exchange reserves, which dropped below $23 billion on Tuesday."

👉Nearly Tk20cr of Legacy Footwear's loan waived
"Publicly listed Legacy Footwear, which had borrowed Tk31.59 crore from Rupali Bank, has secured a waiver of Tk19.93 crore of that loan.

The manufacturer of leather shoes will now have to pay only Tk11.66 crore for the final settlement of the entire loan.

According to officials at Legacy Footwear, the remaining amount will be paid from the fund that will be raised through the issuance of new ordinary shares to increase the company's paid-up capital."

👉Mutual fund investors in a tight spot as earnings, dividends drop drastically
"The mutual fund industry, already struggling with the policy and market adversities amid a poor confidence of investors, is now facing a big dent in their performance, forcing their investors in a tight corner.

Of the 36 listed closed-end mutual funds, only one managed to retain its earnings in 2023 while the others saw their earnings per unit (EPU) dropping by 16% to 97% in a year, according to an EBL Securities compilation of close-end mutual funds' performance."

👉Saudi company sells Tk525cr worth IBBL shares in single day
"Islami Bank Bangladesh Ltd, the country’s largest private sector lender, witnessed record transactions worth Tk 524.8 crore of its shares on the Chittagong Stock Exchange (CSE) on Tuesday.

With this large-scale share trading, Islami Bank alone accounted for 98 per cent of the port city bourse’s total turnover of Tk 533 crore yesterday."

👉Govt may sign MoU with Russia on food import
"Bangladesh may sign a memorandum of understanding (MoU) with Russia soon to import some food items as those were offered at competitive prices, said Senior Commerce Secretary Tapan Kanti Ghosh yesterday.

Russia sent a letter to the commerce ministry recently expressing intent to sell wheat, lentil, sunflower seeds and chickpeas.

Moreover, Russian Ambassador to Bangladesh Alexander Vikentyevich Mantytskiy also met Ghosh at his secretariat office in Dhaka a few days ago to make the offer."

👉BSEC finalising rules to set up commodity exchange
"The Bangladesh Securities and Exchange Commission (BSEC) is finalising a draft of rules regarding the commodity exchange on availing opinions from stakeholders with hopes that the first-ever exchange can be launched within a couple of months.

A commodities exchange is a legal entity that determines and enforces rules and procedures for trading standardised commodity contracts and related investment products.

According to experts, a commodity exchange allows farmers to lock in prices using forward contracting. This also reduces the risk of a drastic price drop and squeezes out uneven ups and downs of commodity prices in the country."

👉Oil prices hit 10-month high as Saudi, Russia extend supply cuts
"Oil prices surged by two per cent on Tuesday to their highest since November, after Saudi Arabia and Russia extended their voluntary supply cuts by three months to the end of this year, worrying investors about potential shortages during peak winter demand.

Brent crude futures rose by $2.08, or about 2.3pc, to $91.08 a barrel by 11:43am EDT (1543 GMT), eclipsing the $91 level for the first time since last November."

👉Insurance cos amass a mountain of wealth
Assets in the insurance sector increased 26.18 per cent to Tk 63,629.05 crore in the last five years till 2022. Of which, the growth rate of non-life insurance assets is much higher than that of life insurance. Non-life insurance company asset growth rate was 50.07 per cent and life insurance 18.77 per cent in the last five years.

👉Auditor doubts BIFC’s survival
The auditor of Bangladesh Industrial Finance Company (BIFC), a non-bank financial institution (NBFI), has expressed doubt over the listed company’s survival as a turnaround possibility was not found in sight owing to its fragile financial health.

👉FM Plastic withdraws SME board listing application
FM Plastic Industries PLC has withdrawn its application for a qualified investor offer (QIO), as the company now plans to arrange funds for business expansion from other sources, according to an official at the issue manager.

👉Adani wants $310m power dues
"Indian conglomerate Adani Group presses for clearing $310-million overdue payments against power purchase by Bangladesh government from their Jharkhand plant, sources say, as arrears go ballooning.

The outstanding payments are set to climb up to $380 million within the next couple of weeks unless payment is made soon, a senior power ministry official told the FE."

👉DSE was unaware of Northern Jute closure for years
"Northern Jute Manufacturing Company has been out of production for years, but the Dhaka Stock Exchange (DSE), the primary stock market regulator, has recently become aware of the dire condition of this publicly listed yarn and twin producer.

During an inspection, the DSE found that the factory premises were completely closed, the country's premier bourse said in a disclosure on its website on Tuesday."

05/09/2023

👉BB sells $2.24b to banks in July, August
"The Bangladesh Bank sold $2.4 billion from its forex reserves to commercial banks in July and August – the first two months of FY24, to facilitate imports through the letter of credit (LC) process.

Though the central bank and National Board of Revenue (NBR) restricted imports last year to save USD, the move had little impact on the steady depletion of forex reserves.

In July of FY24, the regulator sold $1.15 billion to commercial banks, and the figure was $1.10 billion in August. Currently, the Bangladesh Bank is selling the greenback to banks at Tk 109.50 per USD."

👉Export earnings grow 3.80% in Aug
"The country's export earnings of goods in August witnessed a 3.80 per cent growth compared to the same month last year.

The country's export earnings in August totalled $4,782.19 million which was $4,607 million in August last year, according to the latest statistics of the Export Promotion Bureau (EPB).

However, the single-month export earnings in August were 1.81 per cent less than the strategic export target of $4,870 million."

👉BSCCL shows Tk252cr in share capital sans approval
"The auditor of Bangladesh Submarine Cable Company (BSCCL) has given a qualified opinion on the state-run company’s financial report for the year ended in June 2023 as the report has shown an unapproved share capital of Tk 252 crore.

The state-owned telecommunications service provider was required to take prior approval from the government to show this figure on its financial statement, but it could not secure all the approvals yet.

A qualified opinion is a statement issued after an audit is completed by a professional auditor, suggesting that the financial information provided is limited in scope or the company has not maintained generally accepted accounting principles."

👉Tk 821 crore laundered in name of export
"In one of the biggest money laundering scams unearthed so far in the country, customs authorities have found that 33 readymade garment factories and buying houses laundered at least Tk 821 crore over the last six years.

For the illicit money transfer, the fraudsters employed two tactics – under invoicing and using wrong shipping code. In the first case, prices were shown up to 10 times lower than the original rate. In the second case, shipments were shown as ""samples"" when they were actually exports worth hundreds of crores of taka. "

👉Yarn prices go up on rising RMG orders for spring
"Yarn prices have been increasing in the domestic market over the last two weeks as demand from garment exporters is rising amid a hike in work orders from international clothing retailers and brands thanks to easing inflation in the West.

With customers increasing clothes purchases, retailers and brands are being able to clear out old stocks accumulating for a slowdown in sales amid the severe fallouts of Covid-19 and the Russia-Ukraine war."

👉Launch of maiden exchange traded fund expected by December
"The Bangladesh capital market awaits its first ever exchange traded fund (ETF) by the end of this year, according to officials of the Dhaka Stock Exchange (DSE) and LankaBangla Asset Management Company which is going to manage the maiden ETF ""LB Multi Asset Income ETF"".

LankaBangla Asset Management Company, at its corporate office in the capital on Monday, has signed the trust deed with the trustee Bangladesh General Insurance Company (BGIC) to launch the new investment vehicle. "

👉Bank interest rate spread hits 40-month high
"The interest rate spread – the difference between deposit and lending rates – hit a 40-month high of 3.29% last July when the monetary policy was unveiled for the second half of the year, creating a scope for banks to increase their lending rates by more than 1%.

Bankers expressed their satisfaction, saying that a spread of at least 3% is required for a bank to cover its running costs comfortably.

According to data from the Bangladesh Bank, banks received deposits at an average interest rate of 4.46% in July and lent the funds at 7.75% interest."

👉No undisclosed price sensitive info behind share price jump: Fu-Wang tells DSE
"In response to the Dhaka Stock Exchange's (DSE's) inquiry about the sharp increase in Fu-Wang Foods' share price in recent days, the company yesterday said there was no undisclosed price sensitive information behind the price hike.

According to the DSE data, Fu-Wang Foods' stock price jumped by 61% in 15 trading days, from Tk25.9 on 14 August to Tk41.6 each on 4 September.

Market insiders said Fu-Wang's share price started soaring after Minori Bangladesh – a subsidiary of the Japanese farming company Minori Co Ltd – started operating the company following an acquisition of the shares held by its sponsor-directors."

👉Premier Leasing & Finance in a tight spot, with swelling losses, liabilities
"Premier Leasing & Finance's negative earnings per share for three consecutive years to 2022 has made its ability to generate income ""questionable"", said its auditor in a stock filing on Monday.

The cumulative loss of the third-generation financial institution stood at 4.91 billion for the period, as per the data available on the Dhaka Stock Exchange."

👉Explanation of 13 banks sought
"The central bank on Monday sought an explanation from 13 private commercial banks that allegedly violated the official exchange rate against the greenback.

It has asked the banks to give their explanation within the next five working days.

Seeking anonymity, a Bangladesh Bank (BB) official said they have issued letters to the banks as they received allegations of 13 banks' involvement in buying and selling dollar at a much higher than the official rate."

👉No more 3-day voice, data packs from Oct 15
"At a time when the government is pressing full steam ahead with the 'Smart Bangladesh' agenda, the telecom regulator is taking measures that are at odds with it.

On September 3, the Bangladesh Telecommunication Regulatory Commission ordered the mobile operators to discontinue three-day and 15-day voice and data packages from October 15, in a move that stakeholders, experts and consumer rights organisations say restricts the freedom of choice."

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