Mahmud Hossain Opu/Dhaka Tribune
BSEC considers tax incentives to attract new companies
As the market is crowded by small cap companies, only top 10 companies often grab 30-45% of the daily turnover
19 hours ago
ডিএসইতে বিকল্প ট্রেডিং বোর্ডের লেনদেন শুরু
STOCKS | PSI
DSE, trading technology provider NASDAQ extend partnership
Wise Star Textile keen to take over Ring Shine
Regulator halts floor removal plan for next batch of scrips
Out of business, two junk stocks rise to 2022 winners' list
Factories had closed following years of losses. Then the economy plunged into turmoil. But nothing seems to have kept the stocks of Imam Button Industries and Meghna Condensed Milk Industries from making giant leaps in the gloomy stock market in...
Telecom
Sales ban on GP SIM withdrawn
January 03, 2023
· The government has withdrawn the ban on Grameenphone SIM card sales, which it imposed on June 2022.
· The Bangladesh Telecommunication Regulatory Commission made the move on Monday.
· Earlier on 29 June, the BTRC directed to stop the sales of all types of SIM cards of Grameenphone on the grounds that the service quality of the operator was not satisfactory.
From: https://www.newagebd.net/article/190732/sales-ban-on-gp-sim-withdrawn
Economy
Monthly profit payout proposed for Pensioner Savings Certificates
January 03, 2023
· The National Savings Directorate has proposed a monthly profit payout of Pensioner Savings Certificates instead of the current quarterly basis.
· In addition to the monthly payout, the directorate has called for raising the savings tools buying ceiling to BDT10mn from current BDT5mn.
· The age limit for male buyers of the family savings certificate has also been proposed to be lowered to 50 years from 65.
· There has been a net withdrawal of BDT365.49bn from savings certificates in the first five months of the fiscal year, while new investment during that time was BDT349.34bn.
From: https://www.tbsnews.net/economy/monthly-profit-payout-proposed-pensioner-savings-certificates-562446
Bangladesh's Q1'FY23 external debt falls
January 03, 2023
· The debt fell by over USD2.54bn to USD92.69bn in the July-September quarter of FY23 from USD95.23bn in the previous quarter (April-June period of FY22).
· Of the total Q1 debt, the public sector accounted for USD67.29 billion, down USD0.73bn from the previous quarter while private sector debt declined by USD0.55bn to USD25.40bn.
· In the January-March and October-December quarters of the last fiscal, the foreign debt figures USD93.23bn and USD90.79bn.
From: https://www.dhakatribune.com/economy/2023/01/03/bangladeshs-q1fy23-external-debt-falls
BB raises dollar rate to BDT100
January 03, 2023
· The Bangladesh Bank has increased the dollar selling rate from the forex reserve by BDT1 to BDT100- the 11th hike since July of the current fiscal year.
· On Tuesday, the central bank sold USD78mn to state-owned banks at the new rate.
· The rate was increased from BDT98 to BDT99 last on 5 December 2022. In November, the rate was raised to BDT98, following multiple rises in September and October last year.
From: https://www.tbsnews.net/economy/banking/bb-raises-dollar-rate-tk100-562442
Bangladesh's forex reserves stood at USD32.7b after ACU payment
January 03, 2023
· Foreign exchange reserves in Bangladesh will fall to USD32.7bn once the payment of import bills worth USD1.12bn is adjusted tomorrow.
· Bangladesh has made the payment to the Asian Clearing Union for the months of November and December.
· Bangladesh Bank officials said that the payment was made on Tuesday and it would be adjusted on Thursday.
From: https://www.newagebd.net/article/190737/bangladeshs-forex-reserves-fall-to-327b-after-acu-payment
Cenbank goes for printing money to support budget
January 03, 2023
· Bangladesh Bank created fresh money of more than BDT500bn in the July-December period for budget support, the highest in recent history.
· The interest rate on long-term government bonds shot up to 8.95% in the last auction called by the Bangladesh Bank on 28 December – at a time when the lending rate cap was 9%.
· In the face of the liquidity crisis, the central bank was forced to print fresh money amounting to BDT370bn in the first five months of the current fiscal year.
From: https://www.tbsnews.net/economy/banking/cenbank-goes-printing-money-support-budget-562466
Bangladesh to get Adani’s electricity in March
January 03, 2023
· State minister for power, energy and mineral resources Nasrul Hamid has said that the electricity, under the agreement with Adani Power, will come to Bangladesh in mid-March.
· He said that Adani group constructed a dedicated transmission line to supply electricity from India to Bangladesh.
· State minister also share that It will be possible to import electricity from mid-March and by June we will get 1,450 MW electricity.
From: https://www.newagebd.net/article/190718/bangladesh-to-get-adanis-electricity-in-march-says-nasrul
note: this post is for research and analysis only.