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Bangladesh Fund Floats PDF Print E-mail
Thursday, 05 May 2011

The Bangladesh Fund has begun pumping money into the sagging stock market with the purchase of a lot of 50 shares of government-run Titas Gas.

The open-ended mutual fund with Tk 5 billion in initial capital entered the market on Thursday, a day after the Securities and Exchange Commission approved its registered trust deed and certified its floating..

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Muhith To Address ADB Meet In Vietnam PDF Print E-mail
Tuesday, 03 May 2011

The finance minister has left for Hanoi to attend the 44th Board of Governors meeting of the Asian Development Bank (ADB).

A M A Muhith left Dhaka on Sunday night for the Vietnamese capital on a five-day visit, senior information officer of the ministry Shahedur Rahman told bdnews24.com on Monday.

Bangladesh Bank governor Atiur Rahman and Economic Relations Division secretary Mohammad Mosharraf Hossain Bhuiyan are accompanying the minister to the meeting slated for May 3-6.

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Stocks Go Downwards PDF Print E-mail
Tuesday, 03 May 2011

The benchmark indices of the two bourses marked fall until midday on Tuesday.

The Dhaka Stock Exchange (DSE) general index lost 55.96 points or 0.93 percent to 5935.41 at 12:49pm.

Of the 237 issues traded by then, 39 advanced, 184 declined and 14 remained unchanged.

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Dollar Rises, Oil Slides after Bin Laden's Death PDF Print E-mail
Monday, 02 May 2011

The dollar rebounded from three-year lows and US crude slid more than 1 percent on Monday after news Al-Qaeda leader Osama bin Laden was killed in a firefight with US forces reduced the perception of security risks facing the United States.

The news appeared to have provided a reason for investors to unwind extended positions in many assets, including very short dollar positions in holiday-thinned Asian trade.

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Americans Hopeful About Financial Future: Poll PDF Print E-mail
Monday, 02 May 2011

Half of Americans are hopeful about their future despite a gloomy outlook for the economy, according to a new survey.

The poll of about 2,000 adults showed that although only 16 percent of Americans consider themselves well off, or upper middle class now, 50 percent think they will be in five to ten years.

But two thirds of those questioned said now they're just keeping even and they think the economy still hasn't bottomed out.

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New SEC Chairman 'Appointed' PDF Print E-mail
Monday, 02 May 2011

A UK-educated accounting professional will be the new chairman of the Securities and Exchange Commission (SEC), a government source has said.

Chaklader Mansurul Alam, a former managing director of IPDC, has been chosen to replace Ziaul Haque Khandoker, who is likely to be given a new assignment, the source said.

Alam refused to confirm his appointment. So did finance minister A M A Muhith, who announced on Saturday that he would recast the SEC and name a new chairman "in a day or two".

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Stocks Go Downward PDF Print E-mail
Thursday, 24 March 2011

Trading at the country's two bourses showed downtrend in the first session on Thursday, the last working day of the week.

The benchmark indexes as well as most of the share prices fell as trading resumed on the day.

At 12:46pm, the Dhaka Stock Exchange (DSE) general index lost 198.79 points to stand at 6142.12.

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Stocks Mark Bullish Trend PDF Print E-mail
Wednesday, 09 March 2011

Following spells of fluctuations, two bourses showed constant uptrend until one hour before the closing of trading on Wednesday.

The Dhaka Stock Exchange (DSE) general index gained 207.36 points to stand at 6258.46 within 30 minutes of trading, but immediately fell by over 150 points to come down to about 6100 points around 11:45am.

Continuing the rise and fall, the index at 2pm touched 6294.74 points, up by 243.63 points or 4.02 percent from the beginning.

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'Soybean Oil Price to Drop Further' PDF Print E-mail
Saturday, 26 February 2011

The retail price of soybean oil has started coming down as the government withdrew 5 percent value added tax (VAT), the chief of the apex trade body has said.

"The price will drop further in the next two weeks," Abul Kalam Azad , president of the Federation of Bangladesh Chambers of Commerce and Industry, told reporters on Friday after placing wreaths at the graveyard of Bangabandhu Sheikh Mujibur Rahman.

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Govt Postpones Floating SOE Shares PDF Print E-mail
Monday, 14 February 2011

The government has postponed its decision to offload the shares of state owned enterprises (SOEs) in the stock market.

The Securities and Exchange Commission (SEC) sources informed bdnews24.com about the decision on Monday.

Dhaka Stock Exchange (DSE) website says: "SEC has informed that the government has decided to stop offloading all the government shares."

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Stocks Fall, Investors Protest PDF Print E-mail
Monday, 14 February 2011

Angry investors have taken to the streets once again halting traffic from the city's Motijheel Shapla Chattar to Ittefaq Intersection as the share market continued to plunge.

The general index at the Dhaka Stock Exchange (DSE) lost 7.20 percent within 30 minutes of the start of the trading on Monday.

Around 11:54am, the general index stood at 5644.54 point.

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Global Spiral Hinders Efforts: PM PDF Print E-mail
Sunday, 13 February 2011

PRICE HIKE

The prime minister has said it has become difficult to keep the prices under control even after providing subsidies due to global price hike.

"After the global economic meltdown, there has been an unprecedented price spiral," Sheikh Hasina told Awami League's executive council on Saturday at her official residence Ganabhaban.

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DSE Fall Triggers Protests Again PDF Print E-mail
Sunday, 13 February 2011

Traffic on Shapla Chattar- RK Mission Road has come to a halt when small investors took to the streets after steep fall in share prices.

The Dhaka Stock Exchange (DSE) general index lost 468.52 points and stood at 6058.66 around 2:25pm on Sunday.

Of the 237 traded issues, 247 declined, six gained and one remained unchanged.

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Deal with Japan Co for 360 MW Plant PDF Print E-mail
Thursday, 10 February 2011

The government has signed an agreement with a Japanese company for setting up a 360 MW power plant and two electric substations.

The agreement was signed with Marubeni Corporation at Bidyut Bhaban in the city on Wednesday.

Secretary of state-run Electricity Generation Company of Bangladesh (EGCB) Ltd Kazi Nazrul Islam signed the agreement on behalf of the government and Marubeni Corporation general manager Hidekatsu Mizushima on his company's behalf.

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India Confirms Rice Export to Bangladesh PDF Print E-mail
Tuesday, 08 February 2011

Indian external affairs minister SM Krishna has informed his Bangladesh counterpart Dipu Moni that 300,000 metric tonnes of rice would soon be ready for export to Bangladesh.

Both ministers on Monday discussed the entire gamut of bilateral and regional issues on the sidelines of the SAARC Council of Ministers meeting held at Thimphu, according to a foreign ministry press release issued on Tuesday.

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Stocks Rise, Protests Stop PDF Print E-mail
Tuesday, 08 February 2011

Protests by retail Dhaka Stock Exchange (DSE) investors stopped after the key index rose again after a dip.

The general index spiked by 159.79 points in the first hour of trade but started declining around noon. Within 15 minutes the index fell by 18.6 points. Around 1:10pm, however, the index rose again by 33.39 points.

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Demo in Front of DSE Protesting Downturn PDF Print E-mail
Sunday, 06 February 2011

Traffic movement came to a halt on the street in front of Dhaka Stock Exchange (DSE) as angry investors went on demonstration following the downturn at DSE.

The country's two stock markets started the first day of the week with a downturn on Sunday.

The general index stood at 6948.12 falling by 177 points 20 minutes after the trading started at DSE, implying the index fall by 2.48 percent.

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World Food Prices Record High in Jan PDF Print E-mail
Thursday, 03 February 2011

Surging food prices are on Thursday expected to push the United Nations' food price index to a record high in January for a second straight month, further above the levels which prompted food riots in 2007/2008.

The Food Price Index of the UN's Food and Agriculture Organization (FAO), which measures monthly price changes for a food basket of cereals, oilseeds, dairy, meat and sugar, hit a record in December, above a previous high set in June 2008 during the food crisis.

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Probe to be Free of Bias PDF Print E-mail
Wednesday, 26 January 2011

The stock market probe committee will be impartial and free from the bias its chief had earlier expressed, suggests the committee head.

The committee chairman said he would 'forget' the comments he had made, suggesting that his investigation into the stock market volatility would not be clouded by the bias evident in his earlier comments.

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Dhaka Stocks Perk Up on Opening PDF Print E-mail
Wednesday, 26 January 2011

Dhaka stocks continued to rebound strongly on Wednesday's opening bell as the key index rose by over 6 percent in the first 15 minutes.

At 11.30 am, the general index of the Dhaka stock exchange shot up by 426 points or 6.25 percent to reach 7247.

Heavy buying caused 213 out of the traded 230 shares to gain while only 17 shares declined.

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New Rule to Check Power Plant Contract PDF Print E-mail
Friday, 07 January 2011

A guideline will be formulated soon to prevent any single company from getting frequent contracts for setting up power plants, says the finance minister.

A M A Muhith on Thursday said this after a meeting of the cabinet committee on public purchase, when a local firm, Summit Power, got two work orders.

"Summit Power earlier got four work orders, [Thursday] they got two more. It seems an excess concentration in one company."

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