Bangladesh’s stocks

DSE trading building in Dhaka

Dhaka, Bangladesh (BBN) – The BBN (Bangladesh Business News) has prepared the morning business round up compiling reports, published by different newspapers and news portals in Bangladesh.

DSE weighs resuming share-netting system
Bourses are contemplating resuming share-netting facility after 17 years as they believe this trading system will help reverse the slumping turnover. Netting is used in share trading, where an investor can change his position on a single day.

Private banks sweating out over deposits
Private banks saw a decline in deposit growth in December last year despite offering higher interest rates, highlighting the ongoing liquidity crisis in the banking system. In December, the average deposit growth of private banks stood at 11.59 percent, in contrast to 12.58 percent in December 2017 and 12.73 percent in June last year, according to data from Bangladesh Bank.

Bangladesh Bank to conduct special audits of eight more banks
As part of the ongoing probe to reform the country’s ailing banking sector, Bangladesh Bank will conduct special audits of eight more banks, after Janata Bank, AB Bank, and Al-Arafah Islami Bank. The eight banks are: One Bank, Eastern Bank, Mercantile Bank, NCC Bank, Shahjalal Islami Bank, BRAC Bank, Southeast Bank and Mutual Trust Bank.

BB asks NBFIs no deposit, lending in centres
The central bank of Bangladesh has asked the non-banking financial institutions (NBFIs) to avoid all financial transactions including taking deposit and giving loan or lease in the business development centres. The Bangladesh Bank (BB), the country’s central bank, issued a circular in this connection and asked the managing director (MDs) and chief executive officers (CEOs) of all NBFIs to follow the instruction properly.

Bangladesh’s stocks fall as banking sector losses
Bangladesh’s stocks fell on Sunday following majority banks loss their prices, market operators said. The prime index of the Dhaka Stock Exchange (DSE) tumbled to three months low on Sunday as worried investors continued their selling binge on financial stocks.

DSE loses Tk 8,856cr in two months
The Dhaka Stock Exchange saw Tk 8,856 crore — or 2.10 percent — wiped off its market capitalisation in the last two months as institutional investors bided their time on the sidelines while general investors went for panic sell-off.

9 lakh mobile subscribers added in February
The number of mobile subscribers increased by 8.94 lakh in February as all four mobile operators managed to add customers. As per the Bangladesh Telecommunication Regulatory Commission data, the number of total mobile phone subscribers increased to 15.84 crore at the end of February from 15.75 crore in January this year.

ICAB suggests 2.0pc cut in corporate tax
The Institute of Chartered Accountants of Bangladesh (ICAB) Sunday suggested 2.0 per cent cut in the corporate tax in the budget for the next financial year (FY). Investors would be encouraged to invest more funds following such cut and help generate additional employment opportunities.