Bourses suffer amid continued political confrontation
Country’s twin bourses Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) have returned to negative after continued positive trend in two previous sessions in line with the political backdrop amid continued confrontation.
Share price index at both DSE and CSE experienced downturn on Wednesday. Earlier, both the bourses gained in two successive sessions on Monday-Tuesday following losses in four consecutive sessions till Sunday.
On Wednesday morning, trading at both the bourses began on a positive note but ended the day in red amid the news of increasing political clashes across the country.
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Weekly tea auction postponed due to political unrest
The weekly tea auction was postponed on Tuesday amid violent protests against upcoming elections, traders said.
Bangladesh has been rocked by a series of shutdowns and transport blockades over the past few weeks, crippling economic activity.
Tea is sold every Tuesday at the country’s sole auction centre in Chittagong.
“We have to cancel the tea auction this week as a continuous blockade limited movements of traders and disrupted supplies,” an official at the Tea Traders Association of Bang...
Tea is sold every Tuesday at the country’s sole auction centre in Chittagong.
“We have to cancel the tea auction this week as a continuous blockade limited movements of traders and disrupted supplies,” an official at the Tea Traders Association of Bang...
Ticfa challenged in High Court
Why will the Ticfa not be declared illegal?- asking the government, a public interest litigation (PIL) writ petition was filed with the High Court on Wednesday. Four lawyers including Nasiruddin, SM Ariful Islam and Monirul Islam Khan jointly filed the PIL writ petition challenging the legality of ‘Trade and Investment Cooperation Forum Agreement (Ticfa)’ signed between Bangladesh and the United States.
Six people, including the US Ambassador to Bangladesh, Cabinet Division Secretary and Prime Minister’s Secretary have been made respondents to the petition.
Padma Graft: Suspect Bangladeshi surrenders to Canada RCMP
A Bangladeshi origin businessman accused of conspiring with employees of SNC-Lavalin Group Inc. to bribe Bangladeshi officials and help the engineering giant secure a contract for that country’s most important infrastructure project has voluntarily turned himself in to Canadian authorities.
Zulfiquar Ali Bhuiyan, 48, surrendered on Tuesday morning to the RCMP’s national division, which for more than two years has been probing a now disbanded unit of the Canadian engineering firm. The unit, which was based out of SNC’s Oakville, Ont., office, allegedly conspired to bribe its way to the top of a competition to supervise construction of a six-kilometre Bangladeshi bridge, reports The Globe and Mail.
Bangladesh key economic indicators – Dec 4
DAILY INDICATORS
Tuesday Previous Taka/US $ (inter-bank) 77.75-77.7550 77.75-77.75 Call money rate (inter-bank) 06.00-07.75 05.50-07.75 Dhaka Stock Exchange index 4,310.72 4,197.92 ------------------------------------------------------------
MONTHLY
CURRENT PREVIOUS Growth in: Consumer price index (BBS) Change yr/yr (pct) Oct. 7.03 7.13
M2 supply (bln taka) (BB) Sept. 6,267.23 6,199.89 Forex reserves ($bln)(BB) Nov. 17.11 17.35
Exports(FOB) ($mln)(BB) Sept. 2,590...
Banks asked to take police protection to secure cash handling
Bangladesh Bank (BB) has advised the commercial banks to take police protection to ensure security for their cash management, particularly in Automated Teller Machine (ATM) operations, during the shutdowns and blockades.
The central bank sent a letter Tuesday to the commissioner of Dhaka Metropolitan Police (DMP) requesting him to provide police forces to the banks in accordance with their requirements.
The central bank took the measure against the backdrop of difficulties in managing cash p...
The central bank took the measure against the backdrop of difficulties in managing cash p...
