Stocks
BSEC Chairman Encourages German Investment in Bangladesh’s Thriving Economy
In the realm of Bangladesh’s economy, Professor Shibali Rubayat-Ul-Islam, the Chairman of the Bangladesh Securities and Exchange Commission (BSEC), has extended an invitation to German entrepreneurs to invest in the country. This call to action was made during the “The Rise of Bengal Tiger: Bangladesh-France Trade and Investment Summit,” held at a hotel in Berlin on Monday, October 30. The event, jointly organized by BSEC and the Bangladesh Investment Development Authority (BIDA), featured special guest Salman F. Rahman, the Prime Minister’s Advisor on Industry and Private Investment.
At the event, Bangladesh’s Ambassador to Germany, Md. Mosharraf Hossain Bhuiya, and Dr. Volker Treier, the Chief Executive of the Foreign Trade and Member of the Executive Board, also delivered speeches. Professor Shibali Rubayat-Ul-Islam highlighted the existing trade ties between Bangladesh and Germany, focusing on the import of various products from both countries. Notably, Bangladesh frequently imports various machinery and industrial products from Germany, further strengthening their economic collaboration.
Moreover, Professor Shibali Rubayat-Ul-Islam emphasized that both Bangladesh and Germany are actively working together in various sectors, including education and culture. Eight German NGOs currently operate in Bangladesh, overseeing their programs in the country. Additionally, numerous German businesses are already engaged in trade activities within Bangladesh.
The Chairman of BSEC also mentioned how Bangladesh, at one time, was a cement-importing nation but has now transitioned into a cement-exporting country. Currently, 37 companies are involved in the cement sector, producing 58 million metric tons of cement to meet the demand of 33 million metric tons, allowing for profitable exports.
Professor Shibali Rubayat-Ul-Islam concluded his appeal by emphasizing that German investors have an opportunity to invest in Bangladesh without facing the complexities of prior approvals, thanks to investment-friendly government policies and taxation regulations. This paves the way for profitable investments in Bangladesh, offering a win-win scenario for both nations.
Dhaka Stock Market DSE, Bourse on the second working day of the week, 30th September, ended with a negative performance in Indices and a hike in Turnover from the previous working session. This information is known from DSE sources.
503 crore 90 lakh taka shares were traded on this day. 22 crore 58 lakh more tradings were done in DSE today compared to the previous workday, 29th September, Shares worth Tk 481 crores 31 lakh shares were traded last time, Sunday.
The benchmark DSEX lost 33.61 points or 5,624 The Shariah-based index DSES dropped 7.36 point or 1,263 and the blue-chip index DS30 decreased by 9.57 points or 2,053.
Of the issues traded, 72 advanced, 299 declined and 25 remained unchanged.
Shahjibazar Power Company Limited ranked top gainer on DSE, the share price increased by Tk 4.00 paisa or 9.76 percent. On this day, the share was last traded at Tk 45.00 paisa.
Dhaka Electric Supply Company Limited ranked top loser on the DSE, the share price dropped by Tk 1.80 paisa or 7.56 percent. On this day, the share was last traded at Tk 22.00 paisa.
DSE topped on trade is Pragati Life Insurance Limited 25 crore 35 lakh takas of company shares have been traded.
A total of 27 companies’ shares were traded in the Block on Dhaka Stock Exchange. A total of 1 crore 50 lakh 42 thousand 956 shares of the companies were traded. The financial value of which is 65 crore 60 lakh taka
One of the Listed companies, National Polymer Limited has recommended 10.50% Cash Dividend for the year ended June 30, 2024.
It has reported Consolidated EPS of Tk 2.27 paisa, and Consolidated NAV per share of Tk 30.63 for the year ended March 31, 2024.
The Annual General Meeting (AGM) of the company will be held on December 18, through the digital platform. The record date for this has been fixed at October 22.
The Company also discloses its financial reports for the second quarter, (April – June 24).
As per the company’s consolidated life revenue account for April to June 2024, the excess of total income over total expenses, including claims (surplus), stood at Tk 1,394.24 million. This marks a significant increase from the surplus of Tk 823.68 million during the same period in 2023.
For the first half of 2024, from January to June, the company reported a surplus of Tk 2,177.57 million, compared to Tk 1,290.39 million in the corresponding period of the previous year.
Additionally, the Life Insurance Fund balance as of June 30, 2024, reached Tk 55,188.62 million, showing a net increase of Tk 5,892.25 million from Tk 49,296.37 million on June 30, 2023.
One of the Listed companies, Beacon Pharmaceuticals PLC has recommended 20% Cash dividend and 10% Cash Dividend to Sponsor Shareholder and Directors for the year ended June 30, 2024.
It has reported EPS of Tk 2.26 paisa, and NAV per share of Tk. 26.37 for the year ended June 30, 2024.
The Annual General Meeting (AGM) of the company will be held on December 23, through the digital platform. The record date for this has been fixed at October 27.
