Stocks
Bangladesh Eyes EU Trade Links for Economic Growth
Bangladesh Seeks Investment and Trade Partnership with European Union, says BSEC Chairman Professor Shibli-Rubayat-Ul-Islam.
In a recent summit held in Brussels, Belgium, titled “The Rise of the Bengal Tiger: Potentials of Trade and Investment in Bangladesh and the EU Countries,” Professor Shibli Rubayat-Ul-Islam, Chairman of the Bangladesh Securities and Exchange Commission (BSEC), emphasized the importance of establishing a trade and investment partnership with the European Union (EU). The summit, organized in collaboration with the Bangladesh Securities and Exchange Commission and the Bangladesh Investment Development Authority, aimed to foster bilateral economic ties between Bangladesh and Belgium, as well as other EU member states.
Prof. Shibli Rubayat-Ul-Islam delivered a presentation titled “Fifty Years of Bangladesh: The Rise of the Bengal Tiger” at the summit. He highlighted the strategic and convenient position of Bangladesh in South Asia and the potential opportunities for its young and vibrant workforce. Furthermore, he discussed various aspects of Bangladesh’s recent economic development, including its impressive economic growth, poverty reduction, improvements in child mortality rates, increased food production, women’s participation in the workforce, demographic dividend, skilled labor force, and political stability.
Prime Minister Sheikh Hasina’s video message was screened at the summit. In a video message, Sheikh Hasina thanked everyone who participated in the summit organized jointly by BSEC and BIDA. He mentioned Bangladesh’s cordial bilateral relations and cooperation with Belgium and the European Union.
He highlighted various aspects of the economic and infrastructural development of Bangladesh in recent times. He said that Bangladesh has become a 465 billion dollar economy from a 70 billion dollar economy in just 15 years and Bangladesh is on the way to become a developed smart country with a trillion dollar economy.
The BSEC Chairman outlined the favorable aspects of investing in Bangladesh and encouraged the European Union to be part of Bangladesh’s journey toward becoming a smarter nation. He stressed that Bangladesh is well-positioned to become a hub for trade and commerce, with a rapidly growing trade volume.
During the summit, a panel discussion titled “Trade and Investment Opportunities in Bangladesh” took place. Among the panelists were Ambassador Mahbub Hasan Saleh, Bangladesh’s Ambassador to Belgium, Luxembourg, and the European Union; Mohammed Mokammel Hossain, Secretary of the Ministry of Civil Aviation and Tourism; AKM Nurul Fazal Bulbul, Vice Chairman of the Central Depository Bangladesh Limited (CDBL); and Shaikh Yusuf Harun, Managing Director of Bangladesh Economic Zones Authority (BEZA).
Notably, as part of an ongoing initiative to promote Bangladesh as an attractive destination for foreign investment, the “Bangladesh Investment Summit” is being organized in various countries worldwide. The Brussels summit showcased the continuity of this approach and highlighted the unique opportunities that Bangladesh offers to investors and businesses from Belgium and EU member states.
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.
