Stocks
BSEC Chief Advocates Capital Market as Prime Sector for Large-Scale Financing
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In a recent seminar organized by the Bangladesh Securities and Exchange Commission (BSEC), Chairman Professor Shibli Rubayat-Ul-Islam highlighted the significance of Purbachal in economic activities, stating it as the most suitable area for large-scale financial endeavours. Emphasizing the collaborative effort required for successful projects in the field of Blue Economies, he urged businesses to actively engage with BSEC’s environmentally sustainable projects. Additionally, he urged everyone to consider the responsible use of marine resources to contribute to GDP and encouraged the adoption of blue and green bonds.
On Friday, February 2nd, Professor Shibli Rubayat-Ul-Islam delivered these remarks as the keynote speaker at the seminar titled “Blue Economy: Funding Prospects and Capital Markets” organized by the Bangladesh Oceanographic Research Institute in Cox’s Bazar. The event commenced at 11 AM at the institute’s campus.
Dr. Towhida Rashid, the Director-General of the Bangladesh Oceanographic Research Institute, presided over the event. Among the distinguished guests were Dr. Sheikh Shamsuddin Ahmed, Commissioner of BSEC, and Executive Director Mohammad Rezaul Karim.
Bangladesh Securities and Exchange Commission (BSEC) Chairman Professor Shibli Rubayat-Ul-Islam draws inspiration from Singapore’s example, asserting that foreign investors and businesses are keenly interested in investing in Bangladesh’s Blue Economy. Foreign companies express interest in participating in the country’s shipbuilding industry. He emphasizes the need for research on how to harness marine resources and capitalize on the possibilities within. Professor Shibli encourages the exploration of opportunities amid the abundance of resources and their practical utilization.
Highlighting Bangladesh as a potentially prosperous nation in the Blue Economics domain, he commends Prime Minister Sheikh Hasina’s visionary leadership that has enabled the country to possess a vast maritime area covering two-thirds of its land. Blue Economy, with its focus on private accounts and the Chittagong Stock Exchange as a financial hub, is gaining global significance. Professor Shibli envisions reduced government dependency and increased opportunities for private financing if innovative ideas can be effectively implemented. Purbachal is identified as the most suitable area for large-scale economic activities, and he urges businesses to collaborate with BSEC in environmentally sustainable projects to facilitate successful ventures.
In a seminar, BSEC Commissioner Dr. Sheikh Shamsuddin Ahmed expressed that political instability is often considered a significant hindrance to the development of Blue Economics in many countries. However, he noted that in Bangladesh, the government is committed to fostering Blue Economics development. To prioritize Blue Economics development and financing, it is essential to involve the private sector, as relying solely on the government may limit the potential of this sector.
Dr. Sheikh Shamsuddin Ahmed highlighted that nearly 20 ministries are currently involved in the development of the Blue Economy in Bangladesh. To expedite progress, coordination among all stakeholders is crucial. While the country has made advancements in policy and legal measures, the practical implementation of these policies needs acceleration. He emphasized the need for a comprehensive approach beyond revenue-centric activities to effectively utilize the production potential of the Blue Economy.
Furthermore, the Commissioner mentioned that BSEC is working in collaboration with the IFSC for the formulation of guidelines for green bonds in Bangladesh.
In the seminar, Dr. Towhida Rashid, the Director-General of the Bangladesh Oceanographic Research Institute, presented “Bangladesh’s Blue Economics Potential and Government Plans for Blue Economics Development.” The presentation covered various aspects, including the global and national scenarios of Blue Economics, economic values in Bangladesh, potential areas, and the role of the government’s national plans and initiatives.
The event also featured a primary article presentation titled “Blue Economy: Funding Prospects and Capital Markets” by Mohammad Rezaul Karim, the Executive Director of BSEC. He provided insights into the global and Bangladesh-specific perspectives of Blue Economics, emphasizing the need to harness the potential of Purbachal for large-scale economic activities.
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Stocks
Weekly U.S. Stock Market Reports Diverse Performance
![U.S. Stock](https://en.orthosongbad.com/wp-content/uploads/2024/03/7xm.xyz120015.jpg)
Reviewing the U.S. Stock Markets, the Nasdaq Composite, recorded a decent loss of 1,023 points, reaching a closing value of 16,690 points by the end of the week. Similarly, the S&P 500 index showed a positive trend, losing 240 points to settle at 5,408 points. Meanwhile, DJIA Index experienced a notable hike, adding 1,218 points during the week and concluding at 40,345 points after a week of gaining.
In contrast, Russell 3000 Index saw a loss in week performance, with a slight drop of 141 point to reach 3,077 points by the end of the week.
Moving to Russell 2000 Index, demonstrated a notable lost of 126 points, ending the week at 2,091 points.
Stocks
European Stock Weekly Review Highlights Mixed Trend
![stock European](https://en.orthosongbad.com/wp-content/uploads/2023/04/fsdfsdf.webp)
In the Outgoing week, the European stock market displayed a mixed performance.
Here is the data on the weekly performance of the European Stock Market, The STOXX Europe 600 index, which is considered a leading benchmark for the European market and covers approximately 90 percent of the market capitalization across 17 countries, reported a loss of 18.49 points to close at 506.56.
The United Kingdom’s FTSE 100, one of the most widely followed indices in Europe, also showed a significant drop, losing 195 points or finishing the session at 8,181.
In Germany, the DAX 30 index, added by 605 points to reach 18,301, while France’s CAC 40 decreased by 278 points to stop at 7,352 at the end of the trading day.
Italy’s FTSE MIB, which covers the top 40 stocks traded on the Milan Stock Exchange, decreased by 1,081 points to 33,291. However, Spain’s IBEX 35, lost by 228 points, to close at 11,173.
Stocks
Weekly South Asian Stock reports Varied Performance
![south asian stock](https://en.orthosongbad.com/wp-content/uploads/2023/06/New-Project-4.jpg)
A review of South Asian stock markets shows that India’s Bombay Stock Exchange (BSE) index BSE Sensex has lost 1,182 points during the week. At the end of the week, the index stood at 82,365 points. On the other hand, the Nifty-50 index of the country’s National Stock Exchange dropped by 383 points last week. At the end of the week, the index stood at 24,852 points.
Pakistan Stock Exchange Index ‘KSE 100’, added 459 points last week. After a week of losing, the index settled at 79,002 points.
On the other hand, The Sri Lankan stock market index loss, and the Colombo Stock Exchange index ‘ASPI’ decreased by 94 points in a week. After a week the index settled at 10,775 points.
Bhutan’s stock market index ‘BSI’ dropped by 9 points hence the index stood at 1,500 points throughout the whole week. Nepal’s ‘NEPSE’ lost 22 points, therefore the index stands at 2,727 points.
Hence Dhaka Stock Exchange: The benchmark index ‘DSEX’ lost by 75.77 points or 1.31 percent, in the outgoing week. At the end of the week, the index stands at 5,728 points.