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Stocks rise for second straight day
The indices of the Dhaka and Chattogram stock exchanges rose today for the second consecutive day.
DSE turnover crosses Tk200 crore in first hour of trading
Turnover at the Dhaka Stock Exchange (DSE) crossed the Tk200 crore mark by the first hour of trading on Monday.
DSE turnover came to stand at Tk239 crore and DSEX, the broad-based index of the Dhaka Stock Exchange (DSE), was increased by 17.82 points at 11am.
At beginning of the day, the DSEX opened higher as inactive investors are returning to the market owing to buying pressure.
Stocks open higher as investors return to buying mood
Turnover at the Dhaka Stock Exchange (DSE) crossed the Tk200 crore mark by the first hour of trading on Monday.
DSE turnover came to stand at Tk239 crore and DSEX, the broad-based index of the Dhaka Stock Exchange (DSE), was increased by 17.82 points at 11am.
At beginning of the day, the DSEX opened higher as inactive investors are returning to the market owing to buying pressure.
Bank IPOs unsold for the first time as investors not confident
20The Business Standard / March 05, 2023 at 11:20PM//keep unread//hide
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Dhaka bourse gets new chairman
Hafiz Muhammad Hasan Babu has been elected as the chairman of the Board of Directors of the Dhaka Stock Exchange (DSE).
He was elected in the 1054th board meeting of the DSE on Sunday, reads a press release.
Hafiz Muhammad Hasan Babu is currently serving as the dean of the Faculty of Engineering and Technology and professor of the Department of Computer Science and Engineering at the University of Dhaka.
Linde to declare dividend on 12 March
The Business Standard / March 05, 2023 at 01:45PM//
Its shares were traded on the floor price at Tk1,397 each on Sunday at the DSE
Linde Bangladesh Ltd has fixed 12 March for the company's next board meeting to publish the audited financial report for 2022 and declare dividends.
Earlier, it had paid a 550% cash dividend to its shareholders for 2021.
In the first nine months of 2022, its profit has dropped by 17.88% compared to the corresponding period of the previous year, the company said in a stock exchange disclosure.
DCCI recommends raising tax-free income limit to Tk5 lakh
The trade body also demanded VAT-free business turnover limit be increased to Tk4cr to Tk3cr
Bangladesh’s biggest ever agricultural project worth BDT 72.1bn in the offing
March 05, 2023
· A five-year BDT 72,144.6 mn project is underway to modernize and improve the agriculture sector which would boost crop output, ensure food security and create jobs.
· Under the project, smart cards will be issued to 1.8 crore farmers for service and credit support.
· This programme will be financed by the World Bank and the International Fund for Agricultural Development (IFAD), with BDT14,546.5 mn from government funds.
· Two development partners, World Bank and IFAD will contribute USD 500 million and USD 43 million respectively under 10 result-based targets linked with fund release.
From: https://www.tbsnews.net/economy/big-farming-push-594442
YoY container handling drops by 67,787teus in February
March 05, 2023
· Container handling at the Chattogram Port, the country's main seaport, decreased by 67,787 teus in February year-on-year due to declined imports following the dollar shortage.
· Of the total number of containers handled in February, 77,841 teus were import containers, 23,884 teus were export containers while 56,224 teus were empty ones.
· According to the port's data, in 2022 the total container handling in the Chattogram port was 3,133,020 teus of containers. In 2021 the number was 3,214,548 teus.
From: https://www.tbsnews.net/economy/yoy-container-handling-drops-67787teus-february-594978
Firms optimistic about overall prospect but fret over rising cost, says BCI survey
March 06, 2023
· Firms in Bangladesh are optimistic about their overall business prospect but they also worry that their cost of production will increase in the coming months which may hinder their growth, according to the Business Confidence Index (BCI) unveiled yesterday.
· Measured on a scale of 0 to 100, the overall index stands at 74.4, indicating a positive outlook for business conditions over the next six months.
· The Business Cost Index, a sub-category of the BCI, is expected to fall to 22.4 over the months to June 2023, down from 35.8 earlier.
· The survey finds that the level of optimism is moderate in the service sector over the next six months. But the sector is currently operating below their capacity.
Agri loan defaulters decline in first 7 months of FY23
March 05, 2023
· Loan defaulters in the agricultural sector have been declining in the first seven months of this fiscal year.
· Unlike loan disbursements, defaults in the first seven months (July-January) of the current FY23 fiscal have come down to 7.63% from 8.15% in FY22.
· During this period the total loan recovery position of agricultural credit was BDT 184,450 mn in July-January of 2023, which is 19.27% higher than the recovery in the same period of FY22.
From: https://www.dhakatribune.com/banks/2023/03/05/agri-loan-defaulters-decline-in-first-7-months-of-fy23
Agri, service sector businesses for VAT exemption, cut
March 05, 2023
· Businesses in agriculture and service sectors on Sunday proposed that the National Board of Revenue should offer value-added tax exemption or reduction in the national budget for forthcoming financial year 2023-24.
· The Bangladesh Agro-Processors’ Association (BAPA) proposed introducing a minimum corporate tax rate for the agriculture businesses.
· It also proposed withdrawing the tax deduction at source on sourcing agriculture goods from the local market, import of raw goods, on export of agro products, on income of dividend, and on interest of workers’ profit participation fund.
From: https://www.newagebd.net/article/196055/agri-service-sector-businesses-for-vat-exemption-cut
Deposits in No-Frill accounts fall by 6% in 2022
March 05, 2023
· The savings of the extreme poor declined by 6.11% last year as they could not save money due to increased living costs.
· The total deposit of the ultra-poor who have no-frill BDT10/50/100 accounts dropped to BDT 2,150 mn at the end of December last year from BDT 2,290 mn in the same period of the previous year, according to a Bangladesh Bank report.
· However, the total deposit in no-frill accounts increased by 20.52%, or BDT 6,070 mn, last year.
From: https://www.tbsnews.net/economy/banking/extreme-poors-deposits-fall-2022-594986
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