Author: Siddique Islam

Wednesday’s morning business round up of Bangladesh

Dhaka, Bangladesh (BBN) – The BBN has prepared the morning business round up compiling reports, published by different newspapers and news portals in Bangladesh. Put cap on savings instruments sales Former caretaker government adviser Dr Mirza Azizul Islam said on Tuesday the government should put a ceiling on sales of savings tools to stay safe from falling far deep in debt. “Since the government as a captive lender cannot resist people from buying state-run savings instruments, it should put a cap on sales of savings instruments,” he said. The former finance adviser was speaking at a discussion on the...

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Bangladesh’s FX, money markets open stable, stocks gain

Dhaka, Bangladesh (BBN)– Bangladesh’s both foreign exchange and money markets remained almost stable while the stocks gained slightly in early hours of trading on Tuesday. The call rate ranged between 5.25 per cent and 6.75 per cent on the day unchanged from the previous level. But most of the deals were made at rates between 5.50 per cent and 6.50 per cent on the day, market operators said. The overall turnover in the call money market rose to BDT 46.91 billion on Monday from BDT 46.78 billion of the previous working day, according to the central bank latest statistics....

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Bangladesh’s private sector credit growth falls slightly in April

Dhaka, Bangladesh (BBN)– Country’s private sector credit growth fell slightly in April last over the previous month, following a downward trend of imports due to lower prices of essential commodities including fuel oil in the global market, bankers said. The growth in private sector credit flow came down to 13.27 per cent in April from 13.63 per cent in March. It was 13.61 per cent in February 2015, according to the central bank latest statistics. “It’s a temporary phenomenon. The private sector credit growth may rise, as implementation of different development projects, particularly the infrastructural ones, will get pace...

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Bangladesh’s stocks return to green

Dhaka, Bangladesh (BBN) – Bangladesh’s stocks returned to green on Monday after falling trend of two consecutive days due to higher selling pressures by the investors, market operators said. The Dhaka Stock Exchange (DSE) regained some losses in the last hour of the day’s session after a steep correction observed in previous session. But the turnover value dipped to lowest amount observed in last 45 days. The market started its session positively but after six minutes the benchmark index DSEX failed to continue its positive trend and lost 27 points at around 10.52 am. Later, the DSEX overcame its initial loss and ended the rest of the session through fluctuation. At the end of the day’s session, the DSEX rose 0.54 per cent or 24.19 points to close at 4477 points on the country’s prime bourse. The DSE Shahriah Index went up by 0.68 per cent or 7.46 points to close at 1094 points, whereas the blue chips index DSE30 gained 0.60 per cent or 10.37 points to close at 1730 points. “Market rebounded from initial losses in last hours as undervalued stocks tracked the buying spree in market,” said a market commentary of the LankaBangla Securities. Among 311issues traded, 189 advanced, 86 declined and remaining 36 remained unchanged on the premier bourse. At the end of the session, the turnover value stood at more than BDT 3.18 billion,...

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Bangladesh’s FX, money markets open stable, stocks down

Dhaka, Bangladesh (BBN)– Bangladesh’s both foreign exchange and money markets remained almost stable while the stocks saw a downward trend in early hours of trading on Monday. The call rate ranged between 5.25 per cent and 6.75 per cent on the day unchanged from the previous level. But most of the deals were made at rates between 5.50 per cent and 6.50 per cent on the day, market operators said. On the other hand, the banks quoted the US dollar single ate at BDT 77.80 unchanged from the previous level. “Such US$/BDT trend may continue until increasing import payment obligations,” a senior treasury official told BBN in Dhaka. DSEX, the prime index of the DSE, went down by 4.89 point or 0.11 per cent to 4488.48, after nearly 1st hour of trade when the report was filed at 11:15am. DSE turnover stood at BDT 553.76 million when the report was filed. Of the issues traded till then, 87 advanced, 99 declined and 44 remained unchanged. The port city bourse – CSE – also saw downward trend in early hour with its Selective Category Index – CSCX – losing 2.61 points to 8,331.17, also at 11:19am. Of the issues traded till then, 24 gained, 62 declined and 20 remained unchanged with a turnover value of BDT 60 million....

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SILVER (US $/Oz) 17.075 -0.037
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COTTON # 2 (US$/lb) 71.04 0.90
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PALM OIL (USD/MT) 2644 22
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