Tag Archives: market

Energypac Power Generation Ltd. to enter securities market

Energypac Power Generation Limited

MNA Business Desk: Energypac Power Generation Limited has received approval for the initial public offering (IPO) through the book-building process. The securities regulator Bangladesh Securities and Exchange Commission (BSEC) it its 734th commission meeting gave the approval for fixing the company’s cut-off price through electronic bidding with BSEC chairman Shibli Rubayat Ul Islam in the chair, according to a press release. Through IPO, Energypac will raise BDT 150 crore from the capital market. The IPO proceeds will be used to expand the LPG business, repay bank loans and meet the cost of the IPO process. According to the consolidated financial ...

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Supply shortage drives up cattle prices on last day market


MNA Business Report: Dhaka residents who waited till the last day to buy sacrificial animals have been left disappointed, as a supply shortage raised prices at Eid-ul-Azha cattle markets on Thursday and Friday. Many people had to travel to several markets to find suitable cattle and had to pay higher than they would have had to a few days earlier. Cattle traders happily reaped the benefits, as they had feared sales would be lower due to the ongoing Covid-19 pandemic. “Fearing low sales due to the Covid-19 pandemic, we brought 20 cows for sale even though we had more in ...

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Indian stock market crashes on travel ban, visa suspensions


MNA Business Desk: The Indian stock market crashed on Thursday morning following incessant selling by investors on the United States imposing travel bans as well as India suspending visas amid rising number of COVID-19 cases. At 12:30 pm local time, India’s benchmark indices Sensex and Nifty were down 7.2 per cent each or 2,196 points and 660 points respectively after touching a 23-month and 17-month low, respectively earlier in the day as 148 billion US dollars worth of investor wealth was wiped out. Sensex hit an intra-day low of 32,990.01, a level last seen on April 4, 2018 while Nifty ...

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Investors welcome PM’s directives on securities market


MNA Business Desk: Some market supportive measures helped Dhaka stocks end the sharp losing streak in the week ended on Thursday. Out of five trading sessions, the DSE broad index witnessed sharp fall in first three sessions hitting 56-month low. The last two sessions closed positively following a meeting called by the ministry of finance (MoF) to discuss the market supportive proposals. On Thursday, the DSE broad index closed the session with a sharp rise of 2.0 per cent or 81.62 points. On the day, Prime Minister gave six-point instructions for revitalizing the country’s stock market, including ensuring easy credit ...

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PM terms onion crisis temporary


MNA National Desk: As the onion market still remains overheated, Prime Minister Sheikh Hasina on Tuesday termed the crisis temporary, saying there is nothing to worry about it. “The crisis is temporary. It won’t last for long. There’s nothing to worry,” she said while addressing a press conference at her official residence Ganobhaban on her Azerbaijan tour for attending the 18th summit of the Non-Aligned Movement (NAM). The Prime Minister said 55,000 tonnes of onions are entering the country. Foods can be cooked without onion, she said, adding that many items are cooked without onion at her residence, too. On ...

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Comprehensive framework to develop bond market drafted


MNA Business Desk: A comprehensive framework to develop the country’s bond market has been drafted by a designated working committee. Titled as ‘Comprehensive framework on the development of bond market in Bangladesh’ the draft report has also been made available to public on Monday. The government assigned nine-member working committee, headed by Md. Khurshid Alam, general manager of debt management department of Bangladesh Bank earlier submitted the report to the governor of Bangladesh Bank. The 45-page report reviewed the current status of bond market, pointed out the barriers to develop a vibrant bond market and spelled out a number of ...

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Experts share knowledge about capital market


MNA Career & Education Desk: East West University (EWU) Investment and Finance Club celebrated the World Investor Week 2019 in the university campus on October 02 and 03, 2019. On the first day of celebration, an intra university finance-based quiz and composition writing competition took place with the title “Finalogy season 3”. More than 120 undergraduate students participated in this competition. On the following day, a seminar was arranged on “Challenges faced by young investors in the emerging capital market”. Farhad Ahmed, executive director, Bangladesh Securities and Exchange Commission, and Dr Md Tabarak Hossain Bhuiyan, managing director and CEO, Prime ...

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Stocks edge down amid volatile trading


MNA Business Desk: Stocks finished marginally lower on Wednesday as investors were mostly cautious amid ongoing sluggish market trend. Market analysts said investors remained worried about the recent volatility of the market and maintained cautious stance, taking the market in the negative territory once again. The market opened on positive note and the key index of the major bourse rose about 12 points within first 10 minutes of trading. But late hour sale pressure led the prime index to close lower. DSEX, the prime index of the Dhaka Stock Exchange (DSE), settled at 4936, losing 13.02 points or 0.26 per ...

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DSEX hits more than one-month low


MNA Business Desk: Stocks extended the losing streak for the third straight session on Sunday as risk-averse investors continued their selling binge on sector-wise stocks. DSEX, prime index of Dhaka Stock Exchange (DSE), went down by 25.09 points or 0.49 per cent to settle more than one-month low to 5,070. Market analysts said most of the institutional investors are suffering from liquidity shortage while recent market fall created a fright of further fall so general investors are also losing confidence to invest. Two other indices also ended lower. The DS30 index, comprising blue chips, fell 8.62 points to finish at ...

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Netflix to launch cheaper mobile-only plan for India


MNA Culture & Entertainment Desk: Netflix says it would roll out a lower-priced mobile-only plan in India within the next three months to tap into a price-sensitive market at a time the streaming company is losing customers in its home turf. India is among the last big growth markets for the company, where it faces competition from Amazon.com’s Prime Video and Hotstar, a video streaming platform owned by Walt Disney’s India unit, reports Reuters. Netflix lost US streaming customers for the first time in eight years on Wednesday, when it posted quarterly results. It also missed targets for new subscribers ...

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Steps taken to make capital market vibrant: PM


MNA Business Desk: Prime Minister Sheikh Hasina on Monday said her government has taken various steps to ensure a vibrant capital market that will supplement its efforts to make Bangladesh a developed country by the year 2041. “Various measures are being taken to protect the interests of investors which will ensure a conducive environment for a vibrant capital market,” she said. The Prime Minister said this while inaugurating a regional seminar on ‘Financial Literacy and Investment Protection’. The Bangladesh Securities and Exchange Commission (BSEC) and the Asian Development Bank (ADB) jointly organised the seminar at Pan Pacific Sonargaon Hotel here. ...

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Budget brings new hopes to failing capital market


MNA Business Desk: The finance minister has proposed a set of ‘incentives’, including an increase in the tax-free threshold for dividend income from the listed companies, in a bid to make the country’s capital market vibrant. AHM Mustafa Kamal came up with the proposals for incentives in the national budget for the upcoming fiscal year (FY) 2019-20 placed in parliament on Thursday. At present, dividend income up to Tk 25,000 earned from the publicly traded companies is exempted from tax. “With a view to incentivising the small investors and strengthening the capital market, I propose to enhance this limit up ...

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Share market manipulators to face action: PM Hasina


MNA National Desk: Prime Minister Sheikh Hasina on Tuesday warned that action will be taken if anyone wants to play with the share market. “… if anyone wants to play (with the market), obviously we’re taking action and will take so,” she said while giving her winding-up speech in the second session of the 11th parliament, UNB reports. The Prime Minister said the government has taken many steps to keep the share market stable. “Those who are going to the market should know that there’s the possibility of both profit and loss. When you make profits, you’ll be happy but when ...

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BB warns nine banks on rigged dollar sale


MNA Business Desk: Bangladesh Bank warned Dutch-Bangla Bank, Dhaka Bank, Trust Bank, BASIC Bank, Mutual Trust Bank, City Bank, Prime Bank, NCC Bank and Exim Bank on rigged dollar sale. The central bank said those banks have reported less than what they have charged importers for dollars. Regulators now seek explanations on why they would not be penalized for giving false information by hiding the actual data. The banks face a three-day deadline to respond to the notice issued on Sunday. If a bank fails to respond properly, it will be fined under the existing law. “The banks have taken ...

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Capital market will remain ‘moderately bullish’ in 2018


MNA Business Desk: The capital market will remain moderately bullish in 2018, but local political instability will be the risk factor for the capital market this year, according to a recent survey of a leading stockbroker. The forecasts were made by the majority of the respondents in a recent survey on the Bangladesh capital market conducted by LankaBangla Securities. The findings of the survey were released recently. The survey, which is the sixth of its kind, was carried out between January 4 and January 20 this year. A total of 312 people from various sectors — including academicians, fund managers, ...

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The effective ways of trading stock in market


MNA Life Style Desk: As the economy is going down, a stock trader’s life is getting harder. However, a great stock trader will always find a way to make money through stock trading. The more you know about the trading market, the easier it gets for you to make money from it. That’s why even when the economy is not doing so well, a great stock trader will always know what to do, and will also make sure that he’s, or she’s, making profits on his or her invested money. Trading stocks To be able to start trading stocks, you’ll ...

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Fire broke out at Bashundhara City shopping mall


MNA Editorial Desk: A massive fire broke out at Bashundhara City shopping mall in the city’s Panthapath area on Sunday morning. The fire broke out at level-6 of the market around 11.30am. The cause behind the fire could not be known instantly. Authorities have immediately removed shoppers and staff of the mall after fire erupted on the fifth-floor. As much as 20 units of the fire fighters have been working to extinguish the fire with insufficient logistics over the last three hours. The fire service said that they have reached to the spot immediately after heard the news. Annisul Huq, ...

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DSE and CSE restarted downward after Eid


MNA Business Desk: Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) has restarted on Sunday downward as maximum of the stockholders were in selling mode, capturing share price fall in the days ahead. The price directories locked flat when the bourses saw small level of transactions by the cautious buyers. Stock market shut pre-Eid transaction on 30 June upward, upholding a sound rise for the fourth successive session. There were no share exchange at Dhaka and Chittagong stock exchanges in the past nine days as the market stayed locked for Eid-ul-Fitr. DSE initiated the post-Eid period with sharp fall ...

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