FE Report Mohammad Mufazzal :
The Securities and Exchange Commission (SEC) asked Sunday the stock brokers and merchant bankers to submit detailed reports on margin loans provided to their respective clients within a week, the day when the regulator has called a meeting with them. The decision was taken with a view to finding out solutions to problems the stock brokers and merchant bankers facing in extending margin loans based on net asset value (NAV), earlier set by the SEC. The Securities and Exchange Commission (SEC) Sunday said this after a tripartite meeting with its chairman Ziaul Haq Khondker in the chair. The other two parties were leaders of the two stock exchanges and Bangladesh Merchant Bankers Association (BMBA). Read More

FE Report Nazmul Ahsan :
Beximco Group, Bangladesh's one of the largest industrial conglomerates has announced a tie-up with Marasel Company Ltd, owned by Prince Salman Bin Sultan Bin Abdul Aziz Al-Saud of Saudia Arabia, to participate in a bid to finance BMRE project of Eastern Refinery Ltd (ERL). The joint bid will be submitted today (Monday) to increase the refinery's capacity from 1.5 million tonnes per annum (tpa) to 4.5 million tpa on Build Own Operate Transfer (BOOT) or Public Private Partnership (PPP) basis. The value of the BMRE project is estimated at around USD 1 billion. Read More

FE Report Nazmul Ahsan :
The World Bank (WB) will provide $1.0 billion fresh loan to Bangladesh for expanding its power and gas transmission network. The amount will be disbursed within the next three years, a top official in the Prime Minister's Office (PMO) said. The new loan for power sector will be provided in addition to $800 million, which is now in the pipeline. The assurance to provide $1.0 billion from the multilateral lending agency has recently been conveyed to the PMO and the Economic Relations Division (ERD), sources said. Read More

FE Report Nazmul Ahsan :
A five-year bond worth Tk 6.78 billion to be issued to Rupali Bank Ltd soon by the government will be interest free and could be shown by the bank as Statutory Liquidity Ratio (SLR) with the Bangladesh Bank (BB), a top official in the Ministry of Finance (MoF) said. The bond will be issued against the money state-owned enterprises (SoEs) owe to Rupali, the official added. Read More

FE Report :
The Dhaka Stock Exchange (DSE) indices went in the red during the week that ended Thursday, snapping the fourth consecutive week of bull-run, as investors booked profit to avoid any adverse impact on the market by the securities regulator's price cooling measures. The benchmark DSE General Index (DGEN) closed the week at 6653.29 with a loss of 1.33 per cent or 89.91 points, scaling back from previous week's all time high of 6743. Read More

FE Report :
The news regarding the protest and demonstration by the people for their annoyance due to intermittent supply of electricity has recently attracted attention. The government has, however, taken a massive programme to increase generation of power in the country. The current installed capacity for generation of electricity in the country is around 3,900 MWs to 4,200 MWs. But the actual generation is about 3800 MWs and the total load shedding is roughly around 1,200 MWs. The government-owned power companies generate between 55 and 60 per cent electricity while the remaining, between 45 and 40 per cent, is being generated by the private companies. Read More

FE Report :
ICB Asset Management Company Limited (ICB AMCL), a subsidiary of Investment Corporation of Bangladesh (ICB), has announced Net Asset Value (NAV) of its ten mutual funds recently, according to DSE website. NAV of Phoenix Finance 1st Mutual Fund stood at Tk 11.68 per unit on the basis of current market price and Tk 10.27 per unit on the basis of cost price against face value of Tk 10 on the close of business operation on August 17. The total NAV of the Fund stood at Tk 70,10,30,840.54 on the basis of market price and Tk 61,60,50,482.73 on the basis of cost price after considering all assets and liabilities of the Fund. Read More

FE Report :
India has registered Bangladeshi Jamdani Sari, Nakshikatha and Fazli Mango as her own products following the Geographical Indication Act, 1999, said officials. Sections 22, 23 and 24 of WTO's Trade Related Aspect of Intellectual Property Right (TRAIPR) have given countries right to protect and patent famous, exceptional and extra-ordinary products of their own according to the Geopgraphical Indication Act, 1999 (GIA). "India has registered 117 products until April 2009, among which 3 products belong to Bangladesh," a commerce ministry official told the FE, requesting anonymity. Read More

FE Report :
MUMBAI, Aug 23 (PTI): Shares of consumer goods and textile companies today rallied around 6 per cent on the Bombay Stock Exchange, after the government extended sops for exporters hit by fragile recovery in global markets. Shares of Gitanjali Gems climbed 6.12 per cent to Rs 220.05 in afternoon trade on the Bombay Stock Exchange. Titan Industries zoomed 5.6 per cent to hit a high of Rs 3,022 and Videocon Industries by 4.1 per cent to Rs 253.20. Read More

FE Report :
The Dhaka Stock Exchange (DSE) hit a new record in turnover Monday, crossing Tk 18.0 billion-mark, as the investors switched from one stock to another, after the finance ministry okayed the conversion of face value, dealers said. But share prices at the prime bourse dropped slightly for the second straight session amid volatile trading despite steep rise in banking and leasing stocks, which soared 3.62 per cent and 2.23 per cent respectively The benchmark DSE General Index (DGEN) ended at 5567.52 with a loss of 13.48 points or 0.24 per cent, dragged down by heavyweight Grameenphone that declined about five per cent. Read More

FE Report :
The Dhaka Stock Exchange (DSE) hit a new record in turnover Monday, crossing Tk 18.0 billion-mark, as the investors switched from one stock to another, after the finance ministry okayed the conversion of face value, dealers said. But share prices at the prime bourse dropped slightly for the second straight session amid volatile trading despite steep rise in banking and leasing stocks, which soared 3.62 per cent and 2.23 per cent respectively The benchmark DSE General Index (DGEN) ended at 5567.52 with a loss of 13.48 points or 0.24 per cent, dragged down by heavyweight Grameenphone that declined about five per cent. Read More

FE Report Doulot Akter Mala :
Dhaka and New Delhi Saturday signed a $1.0 billion credit line agreement for implementation of projects identified and approved by the Bangladesh government. The Indian credit line was extended to Bangladesh in line with joint communiqué issue at the end of the summit meeting held between Prime Minister Sheikh Hasina and Indian Premier Manmohan Singh in New Delhi January last. The loan to be made available by the Exim Bank, a public sector bank of India carries an interest rate is 1.75 per cent per annum with a commitment fee of 0.5 per cent on unutilised credit after 12 months from the date of contract approval. The repayment period is 20 years with grace period of five years. Read More

FE Report Doulot Akter Mala :
The 23rd Annual General Meeting (AGM) of Eastland Insurance Company Limited was held on Monday at Bangabandhu International Conference Center in the city. The Meeting was presided over by Mr. Mahbubur Rahman, Chairman of the Company. The Chairman presented the report of the Directors, Audited Accounts of the Company for the year ended 31st December, 2009 together with Auditors Report thereon. The Chairman informed the meeting that the Company earned a gross premium of Tk. 396.70 million during 2009 through its 23 Branches which is 13% higher than that of the previous year. Net premium income also increased at 217.47 million with a record of 21 % increase than that of previous year. During the year, the Company settled 441 claims for a total amount of Tk. 73.73 million on account of Fire, Marine, Motor and Misc. Insurance. Total assets of the Company as on December 2009 stood at Tk, 945.42 million. The Company declared 30% stock dividend for the year 2009. Contribution of the Company towards National Exchequer during the year 2009 was Tk. 58.18 million as Income Tax, VAT and Stamp Duty. The Chairman in his report expressed that despite challenging and volatile global economic depression business of the Company grew in 2009 in all areas of its operation due to maintaining of pragmatic and business friendly policy strictly adhering to regulatory principles and business ethics. The Chairman hoped that with the enactment of new Insurance Law passed by the parliament and formation of Regulatory Authority the Industry will get back its much awaited glory and despite all predicaments Eastland with its past tradition as ethical performer will do much better in future. Read More

FE Report Doulot Akter Mala :
Dhaka Stock Exchange (DSE) Monday proposed the government to impose 3.0 per cent tax on capital gains of banks, insurance companies and non-banking financial institutions (NBFIs) but not to levy anything on small investors. It has also proposed to introduce Tk 100 annually as surcharge against each BO (beneficiary owners) account to increase revenue collection. The prime bourse has also proposed not to make TIN (taxpayers identification number) mandatory for opening BO account and reduce corporate tax rate which is highest in the region. Read More

FE Report :
The Dhaka Stock Exchange (DSE) hit a new record in turnover Monday, crossing Tk 18.0 billion-mark, as the investors switched from one stock to another, after the finance ministry okayed the conversion of face value, dealers said. But share prices at the prime bourse dropped slightly for the second straight session amid volatile trading despite steep rise in banking and leasing stocks, which soared 3.62 per cent and 2.23 per cent respectively The benchmark DSE General Index (DGEN) ended at 5567.52 with a loss of 13.48 points or 0.24 per cent, dragged down by heavyweight Grameenphone that declined about five per cent. Read More

FE Report :
The Metropolitan Chamber has forecast that the country's GDP (gross domestic product) is likely to grow nearly by the projected 6.0 per cent in the current fiscal year (FY), driven by favourable service sector growth, stable domestic financial market and signs of global recovery. "Despite the slight under-performance of the leading sectors, it can be said that the growth momentum in Bangladesh economy continued in the January-March quarter of FY10, benefiting from the global recovery and the stability in domestic financial markets that stimulated demand for increased private sector credit," the Metropolitan Chamber of Commerce and Industry, Dhaka (MCCI) said in its January-March quarterly review. Read More

FE Report :
The companies willing to split the face value of their stocks from Tk. 100 to Tk. 10 will get the regulator's nod upon examination of their track record, a member of the Securities and Exchange Commission (SEC) said. The member said the companies, which already completed formalities to split the face value, would get the SEC approval as early as possible if the regulator is pleased with their track record. The SEC said this Monday after getting a consent letter from the finance ministry, which paved the way of splitting the face value of the listed companies' shares. Read More

FE Report :
Securities and Exchange Commission (SEC) has given go-ahead to seven companies to raise their paid-up capital under private placement in accordance with some conditions set by the regulator. The SEC said this after taking a decision in this regard in its commission meeting. The companies which will be able to raise paid-up capital include GMG Airlines, Unique Hotels Limited (Hotel Westin), Energy Prima Limited, LankaBangla Securities, IIDFC and SN Securities Limited. Read More