50
Daily News Flash, 12 th November, 2017 1 DSEX 29.38 Gold (Ounce) $1275.60 Dollar 80.95 (Buy) 81.00 (Sell) CSCX 34.49 Oil (Barrel) $56.90 Euro 93.85(Buy) 93.93(Sell) GOVT MOVES TO BOOST REMITTANCE INFLOW.......................................................................................................................... 3 SWITZERLAND FOR IMPROVING INVESTMENT CLIMATE IN BANGLADESH ..................................................................... 3 TAKING BANGLADESH'S SUCCESS STORY TO THE WORLD...................................................................................................... 5 NBR PLANS TO LOWER FLAT REGISTRATION COST ................................................................................................................... 6 SOCIAL BUSINESS IS OUR FUTURE ..................................................................................................................................................... 7 BANGLALINK'S REVENUE FALLS 4.57PC IN Q3 ............................................................................................................................... 7 FORTY LOCAL COMPANIES TO ATTEND TEXWORLD PARIS .................................................................................................... 8 STANCHART TOP OFFICIAL IN TOWN ............................................................................................................................................... 8 EXPORTS SPRING BACK .......................................................................................................................................................................... 9 EXPORTERS SEEK LONG-TERM TAX, ENERGY POLICIES ........................................................................................................ 10 DOLLAR SUDDENLY BECOMES DEARER ........................................................................................................................................ 11 POLICY SUPPORT NEEDED TO DIVERSIFY EXPORTS: ANALYSTS ........................................................................................ 12 DIGITAL HUNDI SHRINKS REMITTANCE FLOW THROUGH BANKS: BIBM ........................................................................ 13 JOINT VENTURE TO PRODUCE 600MW IN MATARBARI ............................................................................................................ 14 EXPORTS TO EU STATES BUT GERMANY POST ENCOURAGING GROWTH ....................................................................... 15 REHAB LEADERS DEMAND CUT IN TAXES ..................................................................................................................................... 16 B’DESH, BHUTAN START TRADE DATA SHARING IN JAN ......................................................................................................... 17 TAX FAIRS AT ALL ZONES BEGIN TODAY ...................................................................................................................................... 18 BTRC LIKELY TO LOSE RIGHTS OVER UNUSED BALANCE IN BLOCKED SIMS ................................................................ 18 BONDED WAREHOUSE, BACK-TO-BACK LC SHOULD BE OPEN TO ALL EXPORTERS.................................................... 19 GOVT TO SPEND FUND FOR TOBACCO CONTROL MEASURES, CAMPAIGNS .................................................................... 20 STUDY BLAMES MOBILE HUNDI FOR FALLING REMITTANCES THRU BANKING CHANNEL ..................................... 20 POLICY SUPPORT MUST TO DIVERSIFY EXPORT BASKET ...................................................................................................... 21 BANKS LACK REMEDIAL STRATEGY WHILE NPL RISES WORRYINGLY............................................................................ 22 GOVT SEEKS US$1.83B UNDER 39TH JAPANESE ODA PACKAGE ............................................................................................ 23 SUMMIT GROUP ENTITIES TO ISSUE PREFERENCE SHARES WORTH $12.50M ................................................................. 24 BMBA URGES MUHITH TO EXEMPT INVESTMENTS BY MF SPONSORS............................................................................... 25 ATIUR STRESSES ROLE OF REGULATORS IN DIGITAL FINANCIAL INCLUSION ............................................................. 26 FAO FEARS NEGATIVE BD FOOD OUTPUT GROWTH ON FLOODING ................................................................................... 26 STOCKS NUDGE HIGHER AS BANK, TELECOM ISSUES SURGE ............................................................................................... 27 BANGLADESH GROWING AS DENIM HUB ....................................................................................................................................... 28 EXPORTS UP 7.0PC IN JULY-OCTOBER ............................................................................................................................................ 29

Daily News Flash, 12th November, 2017 - · PDF filebanglalink's revenue falls 4.57pc in q3 ... banks lack remedial strategy while npl rises worryingly

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Page 1: Daily News Flash, 12th November, 2017 -  · PDF filebanglalink's revenue falls 4.57pc in q3 ... banks lack remedial strategy while npl rises worryingly

Daily News Flash 12th November 2017

1

DSEX 2938 Gold (Ounce) $127560 Dollar 8095 (Buy) 8100 (Sell) CSCX 3449 Oil (Barrel) $5690 Euro 9385(Buy) 9393(Sell)

GOVT MOVES TO BOOST REMITTANCE INFLOW 3

SWITZERLAND FOR IMPROVING INVESTMENT CLIMATE IN BANGLADESH 3

TAKING BANGLADESHS SUCCESS STORY TO THE WORLD 5

NBR PLANS TO LOWER FLAT REGISTRATION COST 6

SOCIAL BUSINESS IS OUR FUTURE 7

BANGLALINKS REVENUE FALLS 457PC IN Q3 7

FORTY LOCAL COMPANIES TO ATTEND TEXWORLD PARIS 8

STANCHART TOP OFFICIAL IN TOWN 8

EXPORTS SPRING BACK 9

EXPORTERS SEEK LONG-TERM TAX ENERGY POLICIES 10

DOLLAR SUDDENLY BECOMES DEARER 11

POLICY SUPPORT NEEDED TO DIVERSIFY EXPORTS ANALYSTS 12

DIGITAL HUNDI SHRINKS REMITTANCE FLOW THROUGH BANKS BIBM 13

JOINT VENTURE TO PRODUCE 600MW IN MATARBARI 14

EXPORTS TO EU STATES BUT GERMANY POST ENCOURAGING GROWTH 15

REHAB LEADERS DEMAND CUT IN TAXES 16

BrsquoDESH BHUTAN START TRADE DATA SHARING IN JAN 17

TAX FAIRS AT ALL ZONES BEGIN TODAY 18

BTRC LIKELY TO LOSE RIGHTS OVER UNUSED BALANCE IN BLOCKED SIMS 18

BONDED WAREHOUSE BACK-TO-BACK LC SHOULD BE OPEN TO ALL EXPORTERS 19

GOVT TO SPEND FUND FOR TOBACCO CONTROL MEASURES CAMPAIGNS 20

STUDY BLAMES MOBILE HUNDI FOR FALLING REMITTANCES THRU BANKING CHANNEL 20

POLICY SUPPORT MUST TO DIVERSIFY EXPORT BASKET 21

BANKS LACK REMEDIAL STRATEGY WHILE NPL RISES WORRYINGLY 22

GOVT SEEKS US$183B UNDER 39TH JAPANESE ODA PACKAGE 23

SUMMIT GROUP ENTITIES TO ISSUE PREFERENCE SHARES WORTH $1250M 24

BMBA URGES MUHITH TO EXEMPT INVESTMENTS BY MF SPONSORS 25

ATIUR STRESSES ROLE OF REGULATORS IN DIGITAL FINANCIAL INCLUSION 26

FAO FEARS NEGATIVE BD FOOD OUTPUT GROWTH ON FLOODING 26

STOCKS NUDGE HIGHER AS BANK TELECOM ISSUES SURGE 27

BANGLADESH GROWING AS DENIM HUB 28

EXPORTS UP 70PC IN JULY-OCTOBER 29

Daily News Flash 12th November 2017

2

GAS CRISIS HURTING OUTPUT IN INDUSTRIAL BELT 30

SINGLE PERSON MAY FORM COMPANY 32

DSE TURNOVER CROSSES TK 80 BILLION MARK 32

TEN COS GRAB 32PC TURNOVER ON DSE 33

FOREIGN INVESTMENT HIKE INFO DRIVES MODERATE GAINS ON DSE 34

MORE JAPANESE COMPANIES SEEK TO INVEST IN BANGLADESH 35

35

35

৫৩ 36

৩৫ 36

- ফ ৪০ 36

lsquo rsquo 37

- 37

38

39

ফ 39

40

ফ 40

41

41

ফ 42

43

43

৫০০ 44

৬৩ 45

46

48

ফ ৭ 48

ফ - ফ 49

ফ ফ 50

50

Daily News Flash 12th November 2017

3

GOVT MOVES TO BOOST REMITTANCE INFLOW An inter-ministerial committee has come up with 18 proposals to boost the remittance inflow through the formal channel and ward off the rising menace of digital hundi The development comes after the government formed a committee to investigate the shrinking inflow of remittance a major source of foreign currency for Bangladesh since fiscal 2015-16 Remittance inflow in fiscal 2016-17 was the lowest in six years which plunged the countrys current account balance in the deficit zone for the first time in five years according to data from the Bangladesh Bank The committee headed by Md Fazlul Haque additional secretary of the finance ministrys bank and financial institutions division has submitted its report on September 10 The proposals include taking legal action against the vested quarters involved in digital hundi an illegal transfer of funds from abroad Under the system the remitter deposits the amount to a vendor in hisher host country who then instructs his network in Bangladesh to deposit the sum to the mobile financial service accounts of the remitters relative The government should also take cooperation from the concerned law enforcement agencies of the host countries to prevent digital hundi Action should also be taken against the expatriate Bangladeshis with illegal assets abroad with the view to wiping out the local hundi cartel The other proposals include opening booths and help desks at airports such that remitters can deposit their hard-earned money securely just after arriving in Bangladesh The large network of post office and non-governmental organisations should be used to disburse remittance to the beneficiaries the committee suggested Another proposal is the introduction of a remittance card that would carry privileges such as priority services from high commissions and embassies hospitals and schools The number of amenities would increase progressively with the amount of remittance sent home The government should also hold talks with the host countries such that the migrant workers can send any income earned outside of their employment contracts through the banking channel The finance ministry has forwarded the report to the BB and the ministry of expatriates welfare and overseas employment on October 4 asking them to take the required measures The BB issued letters to all banks on October 4 instructing them to implement the recommendations Migrant workers sent home $116 billion last month up 1485 percent from a year earlier and 3583 percent from the previous month Remittance inflow in fiscal 2016-17 was $1277 billion down 1447 percent year-on-year Source httpwwwthedailystarnetbusinessgovt-moves-boost-remittance-inflow-1489990

SWITZERLAND FOR IMPROVING INVESTMENT CLIMATE IN BANGLADESH Switzerland Ambassador to Bangladesh Rene Holenstein has emphasised improving investment climate in Bangladesh as he sees economic opportunities in the country He is in Bangladesh with three priorities Holenstein said in an interview with news agency UNB He said his first priority is to strengthen bilateral political and diplomatic relations with Bangladesh His second priority is to develop cooperation with the Bangladesh government and people to achieve the sustainable development goals (SDGs) with their development support Holenstein will also work to strengthen bilateral economic relations between the two countries and help the Bangladesh economy grow Switzerland has been a committed and longstanding partner of Bangladesh introducing innovative ideas and solutions over the years

Daily News Flash 12th November 2017

4

ldquoOur journey started 45 years ago with humanitarian assistancerdquo The ambassador said the two countries established deep political cultural and economic relations slowly and steadily Holenstein an author of a number of books said the economic relations between the two countries in general has developed positively over the last few years ldquoOur trade has more than doubled since 2010 Major Swiss companies are currently present in Bangladesh This is very encouraging Its also encouraging to see more and more SMEs are coming to Bangladeshrdquo Asked about Swiss investment in Bangladesh he said they saw a 17-percent rise in investment last year The trade volume stood at $600 million last year with a year-on-year 16 percent growth he said ldquoIm fully aware that our trade relations are not yet at optimum level We can contribute much morerdquo He said Switzerland can promote innovative technologies particularly green technologies and this will be a contribution to Bangladeshs development Responding to a question on investment climate he said ldquoYes Ive heard some concerns However Im impressed while talking to businesspeople especially representatives of Swiss companies about their positive experiences Many people are optimistic about economic opportunities in Bangladeshrdquo ldquoOf course therere some issues that require further improvementrdquo Holenstein said mentioning infrastructure and administrative procedures The ambassador however expressed satisfaction over the security measures taken for the foreigners and foreign investors in the country Holenstein emphasised skills development improving local governance and ensuring a safe migration system in Bangladesh with assurance of providing Swiss support in these areas About the next national election in Bangladesh Holenstein said ldquoAs a friend of Bangladesh I hope the election will be fair transparent and inclusiverdquo He said a favourable and safe condition is needed to be in place so that everybody takes part in the election ldquoThe election commission has been doing a lot of consultations with political parties civil society and private sectors We welcome this inclusive approachrdquo About the Rohingya crisis he said ldquoWere very much concerned about the humanitarian situationrdquo Holenstein who has visited the Rohingya camps twice since his arrival in Dhaka praised Bangladesh government for its generosity and accepting so many people ldquoPeoples solidarity is also something extraordinaryrdquo The Swiss ambassador said the main goal is to make sure that these people can return safely and with dignity and voluntarily ldquoWe havent yet achieved that goal Well continue our efforts Were absolutely beside Bangladeshrdquo Given the extent of this humanitarian crisis Switzerland has decided to increase its financial contribution to 8 million Swiss Franc Almost 18 million foreign nationals live in Switzerland which is 243 percent of the total population The ambassador said Switzerland has always been an immigration-friendly country and many international organisations are there where foreigners are working With more than 613000 Rohingyas now in Bangladesh international agencies and partners are working on several fronts to support and protect them to avoid second wave of disaster ndash the outbreak of various diseases Holenstein who speaks German French Spanish English and Russian said he is a great fan of rock music

Daily News Flash 12th November 2017

5

ldquoI love music particularly rock music I love Bangladeshi music toordquo he said appreciating the performance of Bangladeshi band Chirkut ldquoI loved that kind of music I used to play drums I can singrdquo He said he is impressed by the eagerness of Bangladeshi people to learn innovate and try new things Source httpwwwthedailystarnetbusinessswitzerland-improving-investment-climate-bangladesh-1489993

TAKING BANGLADESHS SUCCESS STORY TO THE WORLD Before moving to Bangladesh in May among the known business challenges I was well aware of the opportunities and the positive energy for which Grameenphone is legendary in the Telenor Group I was not sure of what we would find in Bangladesh as a country but it has been an incredible experience so far Sure there are issues to be addressed problems to be solved but that is the truth for any market In my view the glass is far more than half full the opportunities far outweigh the challenges The country is experiencing stable macroeconomic indicators over the last 7 or 8 years with a growing middle-class a strong impetus to create economic zones new infrastructure and a couple of very large bridges to change the flow of traffic in the country Bangladesh is a fantastic opportunity for investors And there needs to be a concerted effort from the business community to recapture the narrative about what it means to operate here As a major player in the economy and a company listed on the Dhaka Stock Market Grameenphone too has a role to play in promoting and investing in South Asia -- and Bangladesh in particular More pertinently Grameenphone is a great example of a Bangladeshi business success story In the last 20 years mobile communications have greatly accelerated change in our culture Everybody who gets a phone here gets access to information communication security and education among other things Unarguably mobile is a big equaliser It brings education where education did not exist before it brings trade where trade is difficult it brings access to information and the democratisation of information where it was not available before It even brings avenues of entertainment into peoples lives As the largest operator in Bangladesh Grameenphone has a profound responsibility to be sustainable and profitable and to invest in the society that it serves with a view to bringing about progress and respectful socioeconomic change I strongly feel that one of Grameenphones key objectives is to make the Bangladesh economy more digital and more competitive The importance of 4G for the dream of a digital Bangladesh cannot be understated But in order to realise the true experience much more spectrum should be made available at affordable prices Grameenphones number one chosen role is to allow Bangladesh to continue to be an international competitor and to grow as well as diversify its exports There is incredible entrepreneurial and business talent in this market Their desire to build a better Bangladesh is matched to our desire to facilitate the same by providing services and infrastructure that make a difference Grameenphone is challenging the existing business models in order to provide customers the best tools allowing them to act on their environment interact with each other and transact in the marketplace Enabling these moments where customers act interact and transact is at the very core of the growth opportunity for mobile operators globally and Bangladesh is no different This does not mean we do everything It means that we enable economic growth and digitalisation We create opportunities for others to use networks to build a digital economy that creates value for our customers and grows our own business

Daily News Flash 12th November 2017

6

In addition to providing telecom services the way we do things makes a difference The way we apply our sense of ethics the way we apply our governance the way we apply our code of conduct or our way of work are humble examples of how business can be done We believe these are important contributors to the society that we serve As a corporate citizen of Bangladesh it is on us to contribute to the fabric of the nation We think there is an opportunity for Grameenphone as part of the greater business community to recapture the narrative and play a more active role in promoting the country for foreign investment to stop worrying about things that are going wrong and think about things that are going right With all due respect to our politicians who are expected to extol the virtues of investing in this market when business leaders and foreign investors carry the message that this is a great place to invest it builds greater credibility Grameenphone understands this and we carry and will continue to carry that message everywhere we go I think that as we head into 2018 and beyond there is huge potential still to grow the market and the business Bangladesh is investment-ready and investment-worthy Source httpwwwthedailystarnetbusinesstaking-bangladeshs-success-story-the-world-1489999

NBR PLANS TO LOWER FLAT REGISTRATION COST The tax administrator plans to reduce the flat registration cost and ease the complexities related to value added tax to give a boost to the real estate sector The National Board of Revenue is also finding ways to lessen the pressure on the realtors at the time of enforcing the new VAT law in July 2019 said Md Nojibur Rahman chairman of NBR Rahman spoke in a meeting with the leaders of the Real Estate and Housing Association of Bangladesh (REHAB) at Hotel Purbani in Dhaka yesterday At the meeting the realtors proposed NBR reduce the flat registration cost to 65 percent from the existing 155 percent The government should introduce a secondary market to change the ownership of flats like the market for used cards said Alamgir Shamsul Alamin president of REHAB There should be no registration fee for secondhand or used flats he said The ownership of such flats should be changed hands with only 3 percent tax like the used cars Alamin said He said the registration cost is the highest in Bangladesh among the Saarc countries The NBR is now giving emphasis on the housing sector to remove the barriers the realtors have long been facing at the time of selling flats he said Currently buyers have to spend 155 percent of a flats cost for registration which includes 4 percent gain tax 3 percent stamp fee 2 percent registration fee 2 percent local government fee and 45 percent VAT Flat sales have decreased by 60 percent in recent times due to high registration costs while the rate of launching new projects has declined by 75 percent Alamin said The association also proposed a cut in the existing 35 percent corporate tax for developer companies to help them raise their paid-up capital he said The REHAB has recently increased the paid-up capital ceiling to Tk 1 crore from Tk 10 lakh for a developer to get a membership of the association Alamin said The higher paid-up capital will increase investment in the sector he said The finance minister has asked the revenue authority to work on how to reduce the flat registration cost said Jahangir Hossain a member of the NBR A panel has also been formed to work on it he said Currently REHAB members are building around 15000 to 17000 flats every year according to the organisation

Daily News Flash 12th November 2017

7

Source httpwwwthedailystarnetbusinessnbr-plans-lower-flat-registration-cost-1489987

SOCIAL BUSINESS IS OUR FUTURE Les Canaux a historic building in Paris has officially begun its journey as Social Business House in order to promote social business and the social economy in the French capital Mayor Ann Hidalgo and Nobel Laureate Prof Muhammad Yunus together launched the social business house on Thursday Yunus Centre in Dhaka said in a statement yesterday Last year the mayor announced that the historic building will be dedicated to become the home of social business and the social economy for Paris Built in 1882 the building served as the administrative office of the Canals of Paris It is located on the 19th district of Paris which is a very vibrant neighbourhood attractive to young people Nicolas Hulot deputy prime minister of France and environment minister attended the launching ceremony as the chief guest A group of dignitaries was given a guided tour of the facilities of the social business house The house has been refurbished where all its decor carpets furniture and fittings are made from recycled materials notably ocean plastic waste paper and waste wood Yunus Centre Paris also located in the same building was also opened Yunus Centre Paris is now a registered legal entity in the city Speaking on the occasion Mayor Hidalgo said she is committed to social business and she wants to make Paris as the social business capital of the world and turn Paris as the social business city The mayor emphasised that social business is the future of the world ldquoIt is the future of humanity and it is the future of the planetrdquo She said that the present system is not sustainable Hulot highlighted that social business and the work that Les Canaux has set for itself is the most powerful way to move forward Prof Yunus said social business is like a bug a friendly bug that infects everyone who comes into contact with it because selflessness exists in every individual Source httpwwwthedailystarnetbusinesssocial-business-our-future-1489984

BANGLALINKS REVENUE FALLS 457PC IN Q3 Banglalinks revenue in the third quarter of the year declined 457 percent to Tk 1170 crore -- the lowest in nine quarters -- due to stiff competition and the growing tendency among subscribers to use multiple connections But it was not disclosed if the operator made any profit during the quarter in the financial report released by its parent company Veon on Thursday Banglalinks data revenue rose 28 percent to Tk 170 crore in the third quarter of the year on the back of acceleration of active data customer growth of 171 percent year-on-year Customer per data usage more than doubled to 523 megabytes a month Fuelled by aggressive customer acquisition campaigns Bangla-links subscriber base widened 84 percent year-on-year in the quarter taking the total tally to 314 crore and reversing the negative trend of the previous quarter Banglalinks gross income decreased and customer base shrank meaning its average revenue per user declined 86 percent year-on-year to Tk 121 The operator lost 38 lakh connections during last years SIM re-verification process As a result its earnings dropped said a senior official of the operator The report also said Banglalink is exploring alternatives to improve its capital structure ahead of 4G spectrum auction likely to take place in the first half next year as the operator would have to spend heavily to buy spectrum and roll out 4G service

Daily News Flash 12th November 2017

8

Veon a multinational telecom company headquartered in Amsterdam said it is evaluating all options to improve Banglalinks capital structures ldquoThe proceeds from any such activity may be used for refinancing of existing debt and general corporate purposes (including capital expenditures)rdquo said the financial statement without giving any specifics Jean-Yves Charlier chief executive officer of Veon had told reporters in Dhaka in July that Banglalink is ready to sell all of its 9000 towers to third parties in order to pool resources to invest to improve network quality The intention was made clear after Bangladesh Telecommunication Regulatory Commission decided to award three licences to manage mobile towers and separate telecom business from operators network infrastructure Banglalink is keen to invest $1 billion over the next three years to improve its service quality as well as support the governments Digital Bangladesh vision Since inception the countrys third largest mobile operator by subscriber base has invested over $251 billion in Bangladesh and contributed $24 billion to the national exchequer The operators 3G coverage reached 70 percent population Source httpwwwthedailystarnetbusinessbanglalinks-revenue-falls-457pc-q3-1489996

FORTY LOCAL COMPANIES TO ATTEND TEXWORLD PARIS Forty Bangladeshi textile and garment companies will participate at Texworld Paris on February 11-14 next year Noman Group has been chosen as an elite exhibitor and given space in the premium area of the show said a statement from Messe Frankfurt the organising company Companies from other countries such as India Pakistan China Myanmar Nepal and Cambodia will also take part ldquoWith such a wide range of countries the show is the most important event for sourcing apparel items Buyers come to the show expecting a wide variety of prices and qualityrdquo the statement said Texworld Paris hosts more than 1000 exhibitors and offers a rich variety of products to professional buyers from all over the world It is particularly the best place to meet buyers from all over Europe including the UK the Netherlands Germany and Turkey The Export Promotion Bureau (EPB) of Bangladesh will take part in the show with a limited number of booths The EPB is providing discounts with a garment booth costing Tk 300000 and a fabric booth Tk 475000 French designer Eymeric Francois along with Texworld consultants Louis Gerin and Gregory Lamaud will organise a Bangladesh Fashion Show in Paris during the event Gerin and Lamaud have been working with Texworld for over 10 years and have been awarded the prestigious Golden Needle Award from ESMOD International Paris Apparel Sourcing Paris the number one European trade fair for worldwide apparel sourcing will also take place at the same time and location Source httpwwwthedailystarnetbusinessforty-local-companies-attend-texworld-paris-1489975

STANCHART TOP OFFICIAL IN TOWN Anna Marrs regional chief executive officer of Standard Chartered Bank for Asean and South Asia has arrived in Dhaka for an official visit During the visit she will meet with some of the banks key stakeholders regulators and clients the bank said in a statement

Daily News Flash 12th November 2017

9

Her visit comes following recent changes in the banks senior management with Naser Ezaz Bijoy being appointed as the CEO of Standard Chartered Bangladesh Bijoy replaced Abrar A Anwar who took charge of the banks operations in Malaysia ldquoAnnas visit reiterates the Groups strong commitment to drive commerce and prosperity in Bangladesh and aid the development of the nations financial sectorrdquo said Bijoy in the statement ldquoAs the oldest financial institution in the country with a heritage of over 112 years and deep local knowledge we remain firmly committed to being a partner in progress to our nationrdquo Marrs is also the CEO of Standard Chartereds commercial and private banking business globally She joined Standard Chartered as group head of strategy and corporate development in January 2012 In her role as the head of strategy Marrs led reviews of the banks businesses globally with notable projects focusing on Nigeria China and India Prior to joining Standard Chartered Marrs was a partner in McKinsey amp Companys banking practice She started her career at DE Shaw a New York-based investment firm Marrs holds an MBA from London Business School and an undergraduate degree from Northwestern University in Chicago Source httpwwwthedailystarnetbusinessstanchart-top-official-town-1489969

EXPORTS SPRING BACK

Exports bounced back in the month of October fetching $284 billion on the back of higher shipments of apparel products ldquoYes garment export is rebounding after a slowdown over the last few monthsrdquo said Siddiqur Rahman president of the Bangladesh Garment Manufacturers and Exporters Association Garment shipments which typically fetch 82 percent of the export earnings brought home $229 billion last month up 4136 percent from the previous month and 602 percent from a year earlier ldquoI hope garment shipments will only increase from here onwards as the peak season is coming uprdquo he added Octobers receipts are higher than the previous months by 399 percent and the previous years by 637 percent according to data from the Export Promotion Bureau The amount which beat the target of $268 billion set by the commerce ministry for the month takes the tally so far in the fiscal year to $1151 billion In the first four months of fiscal 2017-18 leather and leather goods shipment the second largest export earning sector after garment declined slightly It raked in $42844 million down 002 percent from a year earlier But jute and jute goods the next big export earner saw its receipts soar 1646 percent to $34501 million during the period The sectors prospects on the global stage brightened after the long-delayed diversification of the product range and the higher demand for Bangladeshi made jute yarn for carpets and rug manufacturing in Turkey and some Middle-eastern destinations according to industry people Moreover jute exports to Japan and Russia are increasing due to higher demand of natural fibre-

Daily News Flash 12th November 2017

10

made products there exporters said Home textile exports increased 2037 percent year-on-year to $26079 million while the shipment of agricultural products like vegetable fruits spices cut flowers grew 2022 percent to $20321 million Frozen fish live fish and shrimp export increased 1541 percent to $22691 million which is 3721 percent higher than the target for the period Shrimp exporters said they have been receiving better prices from buyers as the demand for the black tiger variety of shrimp increased in the western world Last year shrimp exporters received $550 to $650 for a pound of shrimp but this year they are receiving between $750 and $8 according to exporters Pharmaceuticals exports grew 1731 percent year-on-year to $3219 million and furniture exports 1881 percent to $1415 million Source httpwwwthedailystarnetbusinessexports-spring-back-1489108

EXPORTERS SEEK LONG-TERM TAX ENERGY POLICIES Exporters yesterday demanded long-term and stable tax and energy polices such that they can make their future investment plans accordingly ldquoWe need a long-term roadmap from the government on taxes and energy prices and supplyrdquo said Fazlul Hoque former president of Bangladesh Knitwear Manufacturers and Exporters Association Every year before the budget the National Board of Revenue increases the source tax on export receipts only to bring it down later following requests from businessmen or under political pressure he said For instance the government has been importing liquefied petroleum gas for supplying to the industrial units But it is not clear yet how and when the gas would be supplied to the industrial units he said ldquoHowever it is very simple to fix the rate for the long term so that the businessmen can predict their expenditure and plan for futurerdquo Hoque said at a roundtable on the export potential of Bangladesh Bangla daily the Prothom Alo and banking giant HSBC jointly organised the discussion at the newspapers office in Dhaka where a minister exporters bankers manufacturers and entrepreneurs spoke Siddiqur Rahman president of Bangladesh Garment Manufacturers and Exporters Association echoed Hoques views He also complained about the poor state of the premier Chittagong port and airport in Dhaka Not only the sea port and airport the poor state of the Dhaka-Ashulia highway is also responsible for the bad transportation system The truckers demand higher fares because of the rundown roads between Dhaka and Ashulia-Savar he said Subsequently he called for the highways to be expanded into six lanes as hundreds of garment factories are located on both sides of the road David Hasanat chairman and chief executive officer of Viyellatex Group a leading garment exporter said the garment sectors success stories should be spoken of more ldquoWe should also continue with the PR initiative to carve out a positive picture of the countrys successful garment sectorrdquo he added The exporters of Bangladesh are responsible for not only driving economic growth but also for establishing the Bangladesh brand across the world said Francois De Maricourt chief executive officer of HSBC Bangladesh Muhammad Shohiduzzaman country head of global trade and receivables finance of HSBC Bangladesh said the popularity of export through open accounts system has increased worldwide due to simplicity of the process Bangladesh can also adopt it instead of the time-consuming and traditional letters of credit system he said

Daily News Flash 12th November 2017

11

Saiful Islam president of Leathergoods and Footwear Manufacturers and Exporters Association of Bangladesh (LFMEAB) said the condition of the customs department at the Chittagong port has worsened Customs officials take a lot of time to scrutinise the imported goods meant for manufacturing in the factories Islam said adding that the Chittagong port should have a contingency plan to avoid any kind of sudden deterioration in the system Abu Taher former chairman of the LFMEAB said the global market size of leather goods is $240 billion and in a few years time China will be importing another $100 billion worth of leather and leather goods and footwear ldquoSo we have a lot of opportunity to export leather goods worldwide We need export diversificationrdquo Taher said The demand for diversified jute goods like yarn has been increasing worldwide so the scope for jute and jute goods exports is also rising worldwide said Mahmudul Haque managing director of Sadat Jute Industries Limited ldquoWe need the governments support to make the best of this global opportunityrdquo he added MA Mannan state minister for finance and planning said sometimes the governments activities are stopped through filing writ petitions in the court ldquoThis is one of the major reasons for the slow progress of the governments development projectsrdquo he added Abdul Qayyum associate editor of the Prothom Alo moderated the roundtable Source httpwwwthedailystarnetbusinessexporters-seek-long-term-tax-energy-policies-1489123

DOLLAR SUDDENLY BECOMES DEARER

A frequent traveller who often buys foreign currency from an international bank in Dhaka was charged about Tk 86 for a US dollar on Wednesday Just a month ago he bought a dollar for Tk 83 This sudden rise in dollar price might not make much of a difference to individuals who purchase foreign currency in small amounts and infrequently but for importers who have to settle huge bills it is a major blow For instance if the price of a dollar goes up by even Tk 1 the importer has to bear an additional cost of Tk 10 lakh for $1 million Presently the bills for collection sell rate (at which import payments are made) of a dollar hovers around the Tk 83-mark and the rate goes up further for foreign banks that dominate the currency market The situation has forced the Bangladesh Bank to intervene sitting down with the banks and treasury officials twice in the last two weeks other than selling greenbacks Bankers blamed the depreciation of the local currency on the mismatch between demand and supply of the dollar

Daily News Flash 12th November 2017

12

Remittance and exports the two major sources of foreign currency for Bangladesh are in the slow lane while imports have ballooned Yesterday the inter-bank exchange rate of the US dollar stood at Tk 8095 up from Tk 7849 a year earlier The central bank has already sold $126 million to banks this month to halt the depreciating trend of the taka according to a Bangladesh Bank official ldquoBut it is not yielding the desired result as the demand for the US dollar continues to riserdquo From July 1 to November 9 the central bank has sold $440 million to banks In contrast it sold $175 million and purchased $193 billion during the course of fiscal 2016-17 Some banks are now trading the US dollar with each other bypassing the inter-bank exchange rate set by the central bank meaning that they completed the transaction beyond the rate the BB official said The central bank has put a cap on the US dollar at inter-bank exchange rate plus Tk 2 on April 27 in a meeting with the Association of Bankers Bangladesh with a view to keeping the market stable Besides on Monday it warned a number of banks for such unethical practice and asked them to strictly follow the inter-bank rate to settle foreign exchange transactions among them ldquoSome banks had secretly struck up deals between themselvesrdquo said Md Arfan Ali managing director of Bank Asia adding that the banks were forced to settle transactions at the higher rate because of the scarcity of the US dollar Banks usually do not get greenbacks from the central bank which compelled them to settle the deal avoiding the inter-bank rate said Syed Mahbubur Rahman managing director of Dhaka Bank Subsequently he urged the government to take initiatives to increase export earnings and remittances to ensure steady supply of the US dollar ldquoThe current account balance posted a huge deficit in the first quarter of the fiscal year This reflects the existing foreign currency shortagerdquo he added Between the months of July and September the current account deficit stood at $179 billion in contrast to $539 million in the surplus a year earlier according to data from the central bank During the period the trade deficit widened to $365 billion from $156 billion a year earlier Source httpwwwthedailystarnetbusinessdollar-suddenly-becomes-dearer-1489096

POLICY SUPPORT NEEDED TO DIVERSIFY EXPORTS ANALYSTS The government should extend its policy support beyond the garment sector in order to diversify exports said experts yesterday ldquoWe will have to give importance to various promising sectors which are apparently not visible like the garment sector to diversify exportsrdquo said Prof Wahiduddin Mahmud an eminent economist He said the government would have to provide subsidies to small sectors mostly manufacturing industries to carry on the existing export growth momentum He was speaking at the Bangladesh Enterprise Institutes stakeholder consultation workshop on ldquoExport Diversification Challenges and Prioritiesrdquo IFIC Bank organised the programme at its headquarters in Dhaka Commerce Minister Tofail Ahmed said Bangladesh would be able to reach its export target of $60 billion by 2021 Prof Mahmud said the manufacturing sector should be focused to make the countrys growth export-led Otherwise it would not be possible to maintain the current share of exports to the GDP after two or three years Salman F Rahman vice-chairman of Beximco Group who chaired the workshop said the government will have to extend the bonded warehouse facilities to all sectors and give cash incentives to small sectors

Daily News Flash 12th November 2017

13

He said the government is cutting various policy supports including cash incentive for the garment sector ldquoBut it is not the right time to discontinue the incentivesrdquo The businessman urged the government to continue its support so that the garment sector can maintain its growth momentum Mustafizur Rahman a distinguished fellow of the Centre for Policy Dialogue said intra-garment diversification needs to continue to boost exports He said the exchange rate should be kept at the level that helps exporters The economist said pharmaceutical leather and light engineering sectors have huge opportunities to contribute to exports if they receive supports Allah Malik Kazemi change management adviser to the Bangladesh Bank said the global slowdown has affected the exporters He said the central bank keeps the interest of exporters in mind while managing the foreign exchange market Md Nojibur Rahman chairman of the National Board of Revenue said there is political commitment from the government to stand by exporters He emphasised export diversification saying the NBR also has a role to play by way of supporting small sectors Kazi M Aminul Islam executive chairman of the Bangladesh Investment Development Authority said the government would have to put more emphasis on agriculture and manufacturing sectors to diversify exports He said the garment sector grew fast riding on the policy support provided by the government in areas such as bonded warehouse exchange rate and incentives ldquoOther promising sectors should be provided the same policy support so that they can growrdquo he said Mohammad A Razzaque project leader of the BEI said it is stated that the non-garment exports will not grow because of the policy support provided to the garment sector He disagreed with the argument saying promoting export diversification and maintaining the garment sector dynamism must go hand in hand BEI President Farooq Sobhan also spoke Source httpwwwthedailystarnetbusinesspolicy-support-needed-diversify-exports-analysts-1489081

DIGITAL HUNDI SHRINKS REMITTANCE FLOW THROUGH BANKS BIBM Hundi traders have been fast transferring remittance to relatives of expatriate Bangladeshis through mobile services which have resulted in a fall in the amount of money sent through banking channels This was reflected in a research report by the Bangladesh Institute of Bank Management (BIBM) The report titled ldquoIncreasing flow of remittance through banking channel Bangladesh contextrdquo was placed at a seminar at the BIBM auditorium yesterday A six-member team led by BIBM Director Shah Md Ahsan Habib prepared the report According to the report remittance flow decreased in recent times all over the world but the fall in Bangladesh was more as it accounted for a considerably high amount of remittance generated in total The report identified several reasons for which remittance was plunging including bank branches being distant from the houses of remitters relatives The report also mentioned a lack of good behaviour on the part of bankers requirement of various documents and weekly holidays as causes BIBM Supernumerary Professor Yasin Ali said the scope of mobile banking has much increased in the last five year but banks have failed to utilise the channel He said banks have to provide remitters the opportunities which were offered by unofficial channels otherwise inflow of remittance through the banking channel would plummet

Daily News Flash 12th November 2017

14

Another BIBM Supernumerary Professor Helal Ahmed Chowdhury said the cost of sending remittance through banking channels was higher the effect of which was falling on remittance inflow Chowdhury said an initiative has to be taken to slash the cost of transferring remittance to increase the inflow through banking channels SK Sur Chowdhury deputy governor of Bangladesh Bank said remittance flow to Bangladesh declined by 1110 percent in 2016 due to lower oil prices and fiscal policy tightening in the Gulf Cooperation Council countries It is hoped that awareness programmes would encourage non-resident Bangladeshis to come forward to know the importance of channeling their money through banks he said Chowdhury also said to ease the flow in the formal channel Bangladesh Bank has reduced the security deposit requirement for exchange houses abroad to establish drawing arrangements with local banks In addition to their own bank branches and ATM booths banks are now using the branch networks of microfinance institutions and post offices as sub agents for remittance distribution Remittances are also distributed through agent banking such as that provided through Singer Bangladesh Limited outlets he said Furthermore Bangladesh Bank has established a separate ldquoFinancial Integrity and Customer Interest Protection Departmentrdquo to handle complaints and suggestions of customers or stakeholders at home and abroad to ensure smooth and hassle free services The ldquo16236rdquo hotline is to address customers hassles if any He said at the moment no bank can take more than two days in reaching remittance to designated beneficiaries Source httpwwwthedailystarnetbusinessdigital-hundi-shrinks-remittance-flow-through-banks-bibm-1489075

JOINT VENTURE TO PRODUCE 600MW IN MATARBARI

A joint venture between Japans Mitsui amp Co and a state-run Bangladeshi company is going to set up a liquefied natural gas-based power plant at Matarbari in Maheshkhali upazila to produce 600 megawatts of electricity Coal Power Generation Company Bangladesh Ltd yesterday signed a primary agreement with Mitsui amp Co to this effect in Dhaka on Wednesday according to a statement of the power and energy ministry The companies will have 50-50 ownership in the joint venture that will complete the project by 2021 The government has taken initiatives to import a huge amount of LNG from next year Both land-based and floating LNG terminals will be set up The government has approved two floating LNG terminals each of which will supply 500 million cubic feet of gas per day In July state-run Petrobangla and US-based Excelerate Energy signed the final deals to set up Bangladeshs first LNG terminal in Maheshkhali which will supply gas to the national grid from early 2018 The government also awarded Summit Group the work to set up the countrys first floating LNG terminal also in Maheshkhali This one is due for commissioning by next October Source httpwwwthedailystarnetbusinessjoint-venture-produce-600mw-matarbari-1489069

Daily News Flash 12th November 2017

15

EXPORTS TO EU STATES BUT GERMANY POST ENCOURAGING GROWTH

Bangladeshrsquos export earnings from European countries except Germany registered a significant growth in the July-October period of this financial year 2017-18 riding on an excellent performance of readymade garment products According to the Export Promotion Bureau data exports to major European countries registered double digit growth in the four months of FY18 while the RMG export to Germany fell in the period compared with that in the same period of last fiscal year The EPB data showed that Bangladesh suffered a negative export growth in two promising markets mdash Japan and China mdash in the July-October period of FY18 Exporters said that earnings growth in the EU markets increased in recent months as the euro appreciated against the dollar They also said that buyers and brands cut import orders from Bangladesh for their Chinese stores that caused the negative growth Export earnings from the UK the second largest export destination for Bangladesh in the EU grew by 2084 per cent to $134 billion in the four months of FY18 from $111 billion in the same period of FY17 Earnings from apparel products fetched $125 billion with 2227 per cent growth in the period Export earnings from Spain in July-October in FY18 grew by 2581 per cent to $80102 million from $63670 million in the same period of FY17 Export earnings from the Netherlands rose by 3416 per cent to $40108 million in the four months of FY18 Bangladesh earned $58097 million from France with 270 per cent growth and $46374 million from Italy with 1206 per cent growth Exports to Germany the second largest export destination for Bangladesh in the July-October period of FY18 stood at $186 billion the same amount earned in the July-October period of FY17 Anwar-ul-Alam Chowdhury Parvez former president of the Bangladesh Garment Manufacturers and Exporters Association said exports depend on season and the earnings from Germany would increase from November RMG export earnings fell by 039 per cent to $173 billion from $174 billion in the market data showed lsquoWe have to wait to identify the reasons for the stagnancy of growth in the German market Hopefully the export would rebound in the market in the coming monthsrsquo Md Fazlul Haqe former president of the Bangladesh Knitwear Manufacturers and Exporters Association told New Age on Saturday

Daily News Flash 12th November 2017

16

Export earnings from the US the largest destination for Bangladeshrsquos exports in the July-October period of FY18 grew by 228 per cent to $187 billion from $183 billion in the same period of FY17 Apparel export to the market grew by 244 per cent to $168 billion from $164 billion The EPB data showed that the countryrsquos export earnings from Japan in the July-October period of FY18 fell by 394 per cent to $33390 million from $34760 million in the same period of FY17 Export earnings from China in the four months of the FY18 decreased by 2242 per cent to $22475 million from $28971 million in the corresponding period of last fiscal year Parvez said that the domestic consumption in China slightly decreased in recent times and global retailers also cut import orders from Bangladesh for their Chinese stores due to congestions in the Chittagong port lsquoWe are losing many orders from global brands as we have been failing to meet lead time due to the problem in the portrsquo he said Source httpwwwnewagebdnetarticle28200exports-to-eu-states-but-germany-post-encouraging-growth

REHAB LEADERS DEMAND CUT IN TAXES Realtors on Saturday urged the government to cut tax rates at different levels of the housing sector to give a much-needed boost to the sector They also requested the government not to raise question over the source of the minimum paid up capital (Tk 1 crore) a real estate company requires to be a member of the Real Estate and Housing Association of Bangladesh REHAB leaders made the requests at a joint meeting with the National Board of Revenue held in a city hotel on the day NBR chairman Nojibur Rahman attended the meeting as chief guest while REHAB president Alamgir Shamsul Alamin senior vice-president Nurun Nabi Chowdhury Shaon and vice-president Liakat Ali Bhuiyan were also present among others Alamgir said that the REHAB made it mandatory for its member companies to have Tk 1 crore paid up capital and he requested the government not raise question over that money The government earlier made it mandatory for all developer companies to be REHAB members Alamgir also urged the government to form a re-financing fund worth Tk 20000 crore under Bangladesh Bank to provide low-interest and long-term loans to the potential apartment buyers He demanded apartment registration fee to be reduced to 65 per cent from the existing 155 per cent mentioning that other SAARC countries maintained it at 4-7 per cent Alamgir said that the government was losing huge revenue due to the high apartment registration fee as buyers were showing unwillingness to register their apartments at high cost Nurun Nabi urged the government to meet the REHABrsquos longstanding demands to save the housing sector from ruination He also called for reducing corporate tax of non-public traded companies to 20 per cent from the existing 35 per cent He sought a cut in the tax on signing money to 75 per cent from the existing 15 per cent Alamgir also appealed for reducing tax rate on apartment resale to 3 per cent He also sought total 15 per cent tax and VAT on professional services like engineering and architecture from the current 27 per cent Nojibur said that an NBR-REHAB joint working group would be formed to work together for the betterment of the housing sector He also requested REHAB leaders to provide opinions on the income tax law that would be amended soon He assured them that the NBR would consider their demands Source httpwwwnewagebdnetarticle28201rehab-leaders-demand-cut-in-taxes

Daily News Flash 12th November 2017

17

BrsquoDESH BHUTAN START TRADE DATA SHARING IN JAN Bangladesh and Bhutan have decided to start exchanging export-import data from January 1 to verify trade documents to check duty evasion and other customs-related offences through misdeclarations of goods and prices during trades between the two countries The data will be mailed in the first week of the subsequent month according to the decision taken at the 3rd Bangladesh-Bhutan joint group of customs meeting held in November 7-8 in Thimphu the capital of the Himalayan kingdom Initially both sides will exchange export data of three commodities and gradually the scope will be expanded to all the export items Delegations from the both sides also agreed to boost the existing trade volume between the two countries and improve infrastructure at land customs stations of Bangladesh and Bhutan to facilitate border trade Bhutan informed the meeting that they were establishing a mini dry port at Phuentsholing which would boost border trade between the countries National Board of Revenue member (customs audit modernisation and international trade) Khondaker Muhammad Aminur Rahman and Bhutanrsquos Department of Revenue and Customs director Yonten Namgyel led the respective delegations at the meeting Following a request from Bangladesh Bhutan agreed to put necessary information including country of origin name and address business identification number and tax identification number of importer on the export packages as per the current Import Policy Order of Bangladesh Both sides also agreed to hold ground-level customs meetings twice a year alternately at Phuentsholing of Bhutan and Burimari of Bangladesh to resolve customs-related problems smoothly The two countries also decided to raise the issue of improving the infrastructure at Changrabandha (Indian LCS opposite to Burimari of Bangladesh) and Jaigaon (Indian LCS opposite to Bhutanrsquos Phuentsholing) to ensure smooth border trade between the countries Bangladesh also requested the landlocked kingdom to use Nakugaon-Dalu-Gelephu route for their imports and exports as Bangladesh has decided to upgrade Nakugaon LCS as a trade hub for border trade with India and Bhutan Bangladesh side also underscored the potentials of use of riverine routes as mode of transport for export and import of goods Bhutan may also get duty-free market access for limestone powder export to Bangladesh according to the decision of the meeting Mohammad Ehteshamul Hoque NBR first secretary of customs modernisation and international trade on Saturday told New Age that both countries had resolved some small-scale problems to facilitate bilateral trade and committed to further enhancing border trade The planned ground-level meeting of customs officials will also play a role in identifying and resolving bottlenecks in trade between the two nations he said According to the NBR data Bangladesh exported products worth $322 million to Bhutan in the fiscal year 2016-2017 while it imported from the country products worth $3315 million Bangladeshrsquos highest export earnings from the country were $913 million posted in the FY 2011-2012 and the earnings have been declining with fluctuations over the years Bangladeshrsquos major export items to Bhutan are bakery items fruit and vegetable juices tableware kitchenware and toiletry articles of plastics non-alcoholic beverages menrsquos singlets briefs pyjamas medicament mixtures rice aluminium structure and few garment items On the other hand the country imports mainly citrus fruits stone granite dolomite limestone ferro-alloys apple and gypsum from Bhutan Source httpwwwnewagebdnetarticle28202bdesh-bhutan-start-trade-data-sharing-in-jan

Daily News Flash 12th November 2017

18

TAX FAIRS AT ALL ZONES BEGIN TODAY Income tax fair begins today at all income tax zones across the country to provide taxpayers with services in a similar hassle-free atmosphere they got at recently-concluded countrywide weeklong tax fair National Board of Revenue chairman Md Nojibur Rahman on Saturday in a statement said that the decentralised fair at the zones with similar facilities like the weeklong national tax fair would continue till November 30 the last day of income tax returns submission Tax officials will also start issuing income tax ID cards from November 20 to the taxpayers under each tax zone in Dhaka Issuance of ID cards will continue till November 28 There are 31 income tax zones across the country including 15 in Dhaka and four in Chittagong Officials of the revenue board said that the NBR took the decision so that all taxpayers could file their tax returns without any hassle with maximum support from tax officials Initially the NBR planned to issue ID card from November 9 which was deferred due to lack of preparation Source httpwwwnewagebdnetarticle28203tax-fairs-at-all-zones-begin-today

BTRC LIKELY TO LOSE RIGHTS OVER UNUSED BALANCE IN BLOCKED SIMS Mobile phone operators are likely to get relief from paying the government the unused balance in the SIM cards that would be blocked by the telecom regulator for various reasons especially for illegal voice-over internet protocol calls Mobile operators however will have to return the unused balance to its owner if claimed said officials of Bangladesh Telecommunication Regulatory Commission They said that a proposed amendment to the 4G licencing guidelines that would be passed by the telecom regulator in the upcoming commission meeting following instruction from prime ministerrsquos ICT advisor and posts and telecommunication ministry The instruction was made based on a meeting between the mobile phone operators and the government high officials on the proposed 4G licencing guidelines they said As per the BTRC approved draft 4G licencing guidelines that would be revised it was mandatory for all the operators to pay the BTRC the remaining balance amount of the identified illegal prepaid VoIP callers and unsuccessful or fake SIM registration of service connection fund at the time of deactivating them It was also mentioned in the guidelines drafted earlier that there would not be any rights of the mobile network operators over the forfeited account balance of the illegal VoIP callers Whereas it was also mandatory for the operators to pay the remaining balance of such SIM cards within ten days of the following month In case of deactivation of SIM cards for illegal VoIP calls mobile operators would keep the remaining balance while operators would have to pay the balance to its owner if claimed for deactivation of SIM cards for any other reason Such specification about the unused balance would help the operators while the government would lose its rights over the forfeited fund BTRC officials said Such initiative might foil another BTRC move to take stand against the mobile phone operators for non-payment of unused balance in the SIM cards which were blocked by the telecom regulator for various reasons Countryrsquos leading mobile phone operator Grameenphone in February this year deposited Tk 733 crore to the telecom regulator against the unused balance in the connections that were blocked between 2008 and 2014

Daily News Flash 12th November 2017

19

While other operatorsmdash Banglalink Robi Airtel Citycell and Teletalk mdash were yet to pay any fund to the commission in this regard Airtel formerly known as Warid Telecom has already merged with Robi in November 2016 Apart from the unused balance issued the government acknowledged almost all the issues raised by the mobile phone operators about the 4G licencing guidelines BTRC officials said Source httpwwwnewagebdnetarticle28107btrc-likely-to-lose-rights-over-unused-balance-in-blocked-sims

BONDED WAREHOUSE BACK-TO-BACK LC SHOULD BE OPEN TO ALL EXPORTERS Bonded warehouse facility and back-to-back letter of credit facility should be open for all for the export of all sorts of goods to diversify export products said experts and businesses at a workshop on Thursday They came up with the observation while speaking at a stakeholdersrsquo consultation workshop on lsquoExport Diversification Challenges and Prioritiesrsquo organised by Bangladesh Enterprise Institute at IFIC Tower in Dhaka Commonwealth Secretariat adviser and head of international trade and regional cooperation Section Mohammad Razzaque presented a keynote paper on lsquoRevitalising Bangladeshrsquos export trade Policy issues for growth acceleration and diversificationrsquo Razzaque in his presentation said that there should be alternatives of diversifying export destinations and products to achieve $60 billion export target by the year 2021 Although the country has continued to achieve more than 6 per cent growth export to GDP ratio has declined a bit in last couple of years and to increase the ratio for sustaining economic growth there was no alternative to increasing exports he said To facilitate export diversification and ensure equal facility treatment among the exporters all the sectors should get bonded warehouse facility as well as back-to-back letter of credit facility that helped the countryrsquos readymade garment sector to grow Razzaque said Salman F Rahman private sector development advisor to prime minister also said that the bonded warehouse and back-to-back LC facilities should be opened for all to support other exporters Suggesting for the continuation of existing facility for the RMG sector Salman also president of BEI said lsquoWe need product diversification for the economic growth but not at the cost of RMG sectorrsquo Former Dhaka University economics department chairman Wahiduddin Mahmud said that the gov ernment should set a broad category and announce subsidy and cash incentives for longer period to help the sectors to contribute to exports as well as economic growth Speaking about the exchange rate issue the eminent economist also said lsquoAs balance of payment has turned negative the government should not try to control the exchange rate anymorersquo Centre for Policy Dialogue distinguished fellow Mustafizur Rahman said lsquoApart from diversification of other products intra-RMG sector product diversification is also important as we have created a strong foothold in the sector and itrsquos a one trillion dollar marketrsquo Speaking about the repeated change in policy Federation of Bangladesh Chambers of Commerce and Industry president Shafiul Islam Mohiuddin said lsquoElectricity price has been doubled with just a so-called hearing and that led our foreign partners to backtrackrsquo Speaking about the 070 per cent source tax imposed on apparel sector commerce minister Tofail Ahmed said rsquoAlthough we cannot do a lot for the sector but such tax should not remain on the sectorrsquo Source httpwwwnewagebdnetarticle28039bonded-warehouse-back-to-back-lc-should-be-open-to-all-exporters

Daily News Flash 12th November 2017

20

GOVT TO SPEND FUND FOR TOBACCO CONTROL MEASURES CAMPAIGNS The government has finally framed a policy on the use of health development surcharge it imposed on tobacco products three and half years ago The health and family welfare ministry on Wednesday issued the gazette notification of Health Development Surcharge Management Policy-2017 identifying 16 sectors for spending the fund on The fund will mainly be used for limiting the demand for and supply of tobacco products financing tobacco control activities conducting researches and campaigns and operating Tobacco Tax Cell of the National Board of Revenue The revenue board in July 2014 imposed 1 per cent surcharge on all tobacco products both locally produced and imported ones aiming to spend the fund for implementing the programmes to control and discourage the use of tobacco products and prevent tobacco-related diseases In the last three fiscal years (2014-15 2015-16 and 2016-17) the tax authority collected around Tk 900 crore as health development surcharge from tobacco products including cigarette bidi gul zarda and other smoking and chewing tobacco products But the fund remains idle as the health ministry has not got the access to the fund over the years as there was no policy on how to the money be used Officials of the revenue board said that formulation of the policy had paved the way for utilising the fund for tobacco control and prevention of tobacco-related diseases They said that every year around Tk 300 crore would be added to the fund According to the policy the collected surcharge will be used for financing national tobacco control activities operation of the NTCC under the ministry campaigns in the mass media on health hazards of tobacco products and tobacco control and providing trainings to stakeholders The fund will also be used for setting up National Quitline a hotline to help people quit tobacco consumption and providing financial and technical support to organisations for implementation of programmes to prevent tobacco-related non-communicable diseases Programmes will also be taken to create awareness among farmers against tobacco cultivation and motivate them to cultivate alternative crops according to the policy According to the policy a Health Development Surcharge Management Committee headed by the health minister will supervise the proper use of the fund The National Tobacco Control Cell will provide secretarial support to the committee Fund from other sources such as possible imposition of any surcharge on products hazardous to health in future and donations from local and foreign sources will also be added to the fund it said The expenditures from the fund will be audited in line with the methodology followed for the other government agencies it said According to the Global Adult Tobacco Survey-2009 some 413 crore people or 43 per cent of the total population of Bangladesh consume tobacco products On the other hand 430 crore people are victims of indirect smoking According to the World Health Organisationrsquos 2004 data 57000 people die every year in Bangladesh suffering from tobacco-related diseases The government has taken an initiative to make the country smoking free by 2040 Source httpwwwnewagebdnetarticle28040govt-to-spend-fund-for-tobacco-control-measures-campaigns

STUDY BLAMES MOBILE HUNDI FOR FALLING REMITTANCES THRU BANKING CHANNEL A study of Bangladesh Institute of Bank Management on Thursday blamed Hundi through mobile financial services including bKash Rocket mCash and UCash for decreasing remittance through banking channel

Daily News Flash 12th November 2017

21

The study conducted by a six-member team identified distance of bank branches delay in receiving money misconduct by bankers submission of various documents weekly holidays of banks and illegal immigrants as the reasons for increasing remittance inflow through mobile Hundi The six-member team headed by BIBM director Shah Md Ahsan Habib presented the study at the seminar presided over by BIBM director general Toufic Ahmad Choudhury held in the auditorium of the institute in the city lsquoIn Bangladesh remittances declined by an estimated 111 per cent in 2016 in the face of lower oil prices and fiscal tightening in the GCC countries Among other reasons use of Illegal channel by the expatriates is doing harm to our countryrsquo Bangladesh Bank deputy governor Shitangshu Kumar Sur Chowdhury said He said that it would not be possible to stop Hundi totally but BB is working to check the transactions through the illegal channel To ease the formal channel BB has reduced the security deposit requirement for the exchange houses abroad to make arrangements for remittances with local banks Shitangshu said The BB deputy governor hoped that Non-Resident Bangladeshis would come forward to know the importance of their money to be sent through banking channels BB former executive director Yasin Ali said that national economy was being hindered due to remittance inflow through illegal channels He suggested using mobile banking facilities for remittance inflow saying that the area of mobile banking expanded many fold in last five years Helal Ahmed Chowdhury former managing director of Pubali Bank suggested bankers to be courteous with bank customers Source httpwwwnewagebdnetarticle28041study-blames-mobile-hundi-for-falling-remittances-thru-banking-channel

POLICY SUPPORT MUST TO DIVERSIFY EXPORT BASKET Speakers on Thursday said that in order to diversify the countryrsquos export basket export-oriented businesses should be given the policy support that has proved highly successful in bringing vibrancy to the countryrsquos RMG sector They were speaking at a workshop styled ldquoExport Diversification Challenges and Prioritiesrdquo organised by Bangladesh Enterprise Institute (BEI) in the auditorium of International Finance Investment and Commerce Bank in Dhaka Dr Mohammad A Razzaque former head of International Trade Policy at Commonwealth Secretariat in London presented a keynote paper in the programme chaired by Salman F Rahman private sector development advisor to Awami League President and Prime Minister Sheikh Hasina Skill development measures may also play a vital part in this regard Salman said export diversification would be possible only when adequate and appropriate policy support is provided to all export-oriented industries Dr Razzaque in his keynote paper suggested revamping and deepening policy support such as providing cash assistance and bonded warehouse facilities to all such industries to improve their export competitiveness He also highlighted the need for further expanding Bangladeshrsquos export basket as its penetration into global export markets in the last decade was very insignificant Eminent economist Prof Wahiduddin Mahmud said ldquoIn addition to providing subsidies and cash incentives to thriving and promising sectors on a long-term basis the government should take measures to strengthen the countryrsquos manufacturing baserdquo

Daily News Flash 12th November 2017

22

Shafiul Islam Mohiuddin president of the Federation of Bangladesh Chambers of Commerce and Industry said the governmentrsquos support is a must to create a strong manufacturing base for export diversification ldquoSkill development measures may also play a vital part in this regardrdquo Addressing the event as the chief guest Commerce Minister Tofail Ahmed said export diversification depends on businessmenrsquos initiatives He however pledged all necessary support from the government for export diversification to meet the countryrsquos $60 billion export target by 2021 BEI President Farooq Sobhan emphasised engaging the private sector in relevant policy discourses to achieve the target ldquoA private sector-oriented policy mechanism is very important as rapid changes are taking place in the global trade landscape Understanding implications and generating timely policy responses to unfolding developments will be meaningful only when the private sector is able to benefit from themrdquo said Sobhan Among others Mustafizur Rahman a fellow at the Centre for Policy Dialogue Kazi M Aminul Islam executive chairman of Bangladesh Investment Development Authority Bijoy Bhattacharjee vice chairman of Bangladesh Export Promotion Bureau and Md Nojibur Rahman chairman of the National Board of Revenue also spoke Source httpwwwdhakatribunecombusinesseconomy20171109policy-support-must-diversify-export-basket

BANKS LACK REMEDIAL STRATEGY WHILE NPL RISES WORRYINGLY Some of Bangladeshs banks dont have in-depth look into the problem of spiraling non-performing loans (NPL) while many others try to frame remedial strategies perfunctorily Such observations came out from studies on banking as well as financial sector at large as the NPL surge worries many quarters One finding shows that around 11 per cent of the countrys banks did not have an in-depth look into the issue of NPLs in the past year despite a growing concern over the problem in the financial arena The recent industry-wide survey also revealed that around 30 per cent of the countrys banks had not assessed their past NPL-reduction strategies at all while 36 per cent did so only on an ad-hoc basis The findings came out from the survey of the Chief Risk Officers at the banks on issues concerning NPL strategy in their institutions Leading banking research and training institution Bangladesh Institute of Bank Management (BIBM) conducted the study The research findings come at a time when the ballooning NPLs is becoming a major issue with the countrys banking industry and also triggering concerns and criticisms As per the central bank data the volume of NPLs had increased by more than 21 per cent to Tk 62172 billion by the end of 2016 swelling from Tk 51371 billion a year before The findings are genuinely surprising as we are struggling to find a bank for which NPL is not an issue in some capacity said Sazib Azad Senior Advisor of BIBM who led the research initiative Furthermore if the bank itself is immune to the impact of NPL even then they need to consider whether they are immune from structural or market-level impacts as well he told the FE However relevant survey results show the potential lack of such considerations as only 10 per cent of bank CROs taking part in the survey said that their banks are addressing potential dependence on market assessment and strategy What is more surprising is that the NPL strategies of around 62 per cent of the banks are not signed off by the boards the survey found

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This is quite striking because given the severity of the non-performing-loan issue the NPL strategy should be signed off by the boards Mr Azad said adding Boards are not only accountable for the health of the banks but are also in position to release resources to get to grips with the issue In addition the survey result also revealed 31 per cent of the banks not communicating their NPL strategy across the bank NPL as an issue needs to be addressed from ground up But the results show that this is not happening at our banks said an expert who was involved with research Meanwhile 25 per cent of the CROs said they were not tracking the implementation and effectiveness of NPL strategy in their banks- something which according to experts is a cause of concern Given how critical an issue NPL exposure is we would expect every CRO to track how the NPL strategy is being implemented its effectiveness and how to improve matters to the Board Risk Committee and the Board the banking experts said Meanwhile the survey results also found that although 94 per cent of the banks had stress-tested their balance sheet in terms of NPL drag this figure drops to 56 per cent while considering the impact to and from the wider economy market and structural aspects It seems that 33 per cent of the banks do not formally consider this aspect with a further 11 per cent not looking at this dimension at all the researchers said Experts also noted that with Basel 3 farther putting capital under pressure sensible banks should dynamically model the impact of key risks to their capital However the survey results show 17 per cent of the banks are not doing so while 31 per cent doing it in a limited manner Asked whether their banks risk-appetite-statement metrics reflected their NPL strategy 36 per cent of the respondents said they do so in a limited capacity while a further 80 per cent are not doing that at all It was also found that 25 per cent of the C-Suites have specific NPL-strategy-related targets while 31 per cent of the CROs have the same Meanwhile when asked whether they consider their NPL strategy to be embedded just over half of them or 52 per cent of the survey participants said Yes This according to experts is clearly not fit for purpose given the severity of the NPL issue facing the banking sector The first step in looking into the NPL issue is to assess internal capabilities to effectively manage NPLs Next external conditions or operating environment needs to be considered Finally the capital implications of the NPL strategy need to be analyzed said Sajib Azad The findings of the survey will be shared with the stakeholders during the next CRO forum of BIBM expected to take place next month where the issue of Risk Culture will also figure high The biggest reason for the swelling of NPL in our banking sector is a lack of good governance To check the ballooning of NPL the internal governance of the banks has to be strengthened above all Director-General of BIBM Toufic Ahmad Choudhury said Meanwhile the survey also found banks tending to consider time-horizon portfolio segment and exposure-level-based targets to be broadly equally important to their NPL strategy In terms of options preferred for reducing NPL banks consider change of exposure type to be most effective (36 per cent) followed by active portfolio reductions (33 per cent) and hold forbearance (31 pe rcent) Source httptodaythefinancialexpresscombdfirst-pagebanks-lack-remedial-strategy-while-npl-rises-worryingly-1510417700

GOVT SEEKS US$183B UNDER 39TH JAPANESE ODA PACKAGE The government has sought around US$183 billion worth of assistance from Japan for bankrolling six development projects officials said Saturday

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Officials at the Ministry of Finance (MoF) said they have already discussed the issue with the Japan International Cooperation Agency (JICA) We are hopeful of receiving funds under its upcoming 39th Official Development Assistance (ODA) package to finance six development projects a senior MoF official told the FE He said a JICA mission in September-October last completed its visit to Bangladesh to explore the possibilities of financing the proposed projects We are hopeful of signing the 39th ODA package with JICA within a couple of months he said After signing the loan deal the largest bilateral donor will start disbursement of funds from the proposed $183 billion aid package for the six development projects the MoF official added The proposed six projects under the 39th ODA package are Matarbari port development Dhaka MRT line-6 construction (phase-III) Dhaka MRT line -5 feasibility study Matarbari ultra super critical coal-fired power plant (phase-IV) Jamuna Railway Bridge construction and Health service strengthening project A senior official of Economic Relations Division said the proposed 39th ODA package will be very useful for Bangladesh as it will be utilised to develop the Matarbari port ongoing Matarbari power plant project conduct feasibility study and detailed design of the MRT line-5 in Dhaka and to construct railway bridge over the River Jamuna All of these projects are very important for the country to ensure smooth transportation and uninterrupted power supply he added Japan is the largest bilateral development partner of Bangladesh Over last 5-6 years it has enhanced its aid with confirmation of more than US$10 billion worth of funds under each of the aid packages In the last 38th ODA package signed in June 2017 JICA provided Yen 178223 billion ($164 billion) for utilising in six development projects on transport infrastructure power and water sector improvement works In June 2016 Japan signed the 37th ODA deal worth $150 billion (17354 billion Japanese Yen) with Bangladesh and in December 2015 it inked the 36th ODA package confirming $12 billion concessional loan for six development projects Under the last 38th ODA package JICA offered $700 million (Yen 76825 billion) for Hazrat Shahjalal International Airport Expansion project $480 million (Yen 5273 billion) for 2nd Kanchpur Meghna and Gumti bridges construction $50 million (Yen 5593 billion) for Dhaka Mass Rapid Transit development project (Line 1) $100 million (Yen 10745 billion) for Matarbari ultra super critical coal-fired power plant $190 million (Yen 20477 billion) for Dhaka underground substation construction project and $110 million (Yen 11853 billion) loan for small scale water resources development project Japan has so far provided Bangladesh with nearly US$12 billion in assistance since the financial year (FY) 1971-72 Source httptodaythefinancialexpresscombdfirst-pagegovt-seeks-us183b-under-39th-japanese-oda-package-1510417739

SUMMIT GROUP ENTITIES TO ISSUE PREFERENCE SHARES WORTH $1250M A subscription closing ceremony to raise capital through issuance of preference shares worth BDT 1000 million (USD 1250 million) for Summit Barisal Power Limited amp Summit Narayanganj Power Unit II Limited was held recently at Pan Pacific Sonargaon Dhaka said a statement LankaBangla Finance Limited acted as the Mandated Arranger LankaBangla Investments Limited acted as the Issue Manager and The City Bank Limited acted as the Agent Account Bank amp Custodian Bank to raise the fund In the event Mr Lt Gen (Retd) Engr Abdul Wadud Managing Director of Summit Barisal Power Limited amp Summit Narayanganj Power Unit II Limited Mr Khwaja Shahriar Managing Director amp

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CEO of LankaBangla Finance Limited Mr Mohammed Nasir Uddin Chowdhury Managing Director of LankaBangla Capital Market Operations Mr Mominul Islam Managing Director amp CEO of IPDC Finance Limited Mr R Q M Forkan Managing Director amp CEO of Bangladesh Commerce Bank Limited Mr Faruq M Ahmed Additional Managing Director of Trust Bank Limited Mr Akthar Hamid Khan Deputy Managing Director of Pubali Bank Limited Mr Arif Hasan Khan Vice President of Modhumoti Bank Limited Mr Mohammad Ibrahim Khalil FCA Vice President amp CFO of Bank Asia Limited and Mr Mahbub Jamil Vice President and Head of Structured Finance of The City Bank Limited along with other senior officials from the companies were present Source httptodaythefinancialexpresscombdstock-corporatesummit-group-entities-to-issue-preference-shares-worth-1250m-1510411878

BMBA URGES MUHITH TO EXEMPT INVESTMENTS BY MF SPONSORS Bangladesh Merchant Bankers Association (BMBA) has urged the finance minister to exclude some components including sponsors investments in mutual funds (MFs) from the banks exposure to the capital market It made the request for ensuring an environment conducive to gradual development of the capital market according to a proposal submitted to Finance Minister AMA Muhith last week The BMBA said the long-term or strategic investments needed to be excluded while calculating the exposure as these investments were not intended for frequent trading Non-convertible preference shares and non-listed securities also need to be excluded from the capital market exposure as it will never influence the capital market volatility it said in a letter to the minister According to the letter the MFs are passive investments where investors themselves are not involved in investment decision making and such fund portfolios are mostly of long-term nature than frequent trading On the other hand the sponsors of the MFs need to hold 10 per cent of the investment until liquidation of the fund So considering the fact the sponsors portions in MFs need to be excluded from the banks capital exposure said the BMBA proposal As per the Banking Act 1991 it said reporting requirement is on solo basis but the central bank has introduced consolidated calculation which is of dual effectdouble counting in the market exposure This kind of restrictive measure creates panic situation in the market and may hinder the potentials and prospects of the capital market as a whole the BMBA said It also said that this kind of practice needed to be stopped as such requirements and reporting practice would further squeeze the market and that the investors would lose their interest The BMBA said some organisations have invested on strategic purpose and were holding positions in the board and their exposure increased with rising the market price of MF units On the other hand in compliance with the securities rules they are unable to sell shares to reduce exposure the BMBA said terming the situation complicated In its letter the BMBA said that the capital market exposure of some banks and financial institutions increased without fresh investments following the upward trend of the market price as the exposure is calculated on the basis of market price If the banks need to go for selling off their excess exposure this will create unnecessary selling pressure on the market said the BMBA The association requested the finance minister to consider their proposal to facilitate the growth of the capital market by its own strength and prospect Source httptodaythefinancialexpresscombdstock-corporatebmba-urges-muhith-to-exempt-investments-by-mf-sponsors-1510411950

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ATIUR STRESSES ROLE OF REGULATORS IN DIGITAL FINANCIAL INCLUSION Former Bangladesh Bank Governor Dr Atiur Rahman chairs a session at the 5th Biennial Competition Regulation and Development Conference at Jaipur in India on Thursday Success of digital financial inclusion depends on the prudent role of the regulating bodies to a great extent And the recent progress in Bangladesh in this regard is a good example for the rest of the world to follow said Dr Atiur Rahman former governor of Bangladesh Bank says a statement He was chairing a session at the 5th Biennial Competition Regulation and Development Conference at Jaipur India on Thursday The three-day conference is being hosted by CUTS International and OECD Speakers of the session included Ravinder S Aurora Senior Vice President of Mastercard David Ongolo Kenyan Competition Authority and Dr A K EnamulHaque Professor of East West University Dhaka Many developing countries survived and even thrived during the last global financial crisis because they chose to follow a broad-based financial inclusion strategy And digital solutions played a crucial role in this financial inclusion drive said Dr Rahman He added that service providers must focus on reaching out to the customers in the rural socio-economic conditions Dr Rahman said that experience from Bangladesh can answer many of the burning questions regarding digital financial inclusion The central bank of the country has facilitated bank-led digitisation drive Be it Mobile Financial Service or be it Agent Banking the Bangladesh Bank has encouraged traditional players (ie the commercial banks) to lead the way And it has been proven to be very successful He also said that the world is witnessing only the beginning of the digital finance revolution Hence we must learn from all these experiments share our experiences and know-hows Only then we can work towards shaping global standards and practices Dr Rahman finally asked all central banks to be more proactive and collaborative with other stakeholders including non-traditional financial service providers to facilitate orderly development of digital financial inclusion so that consumers interests are better protected The grievance redressal mechanism developed in Bangladesh Bank with infusion of state of the art technology to gain trust of the customers in financial inclusion was also discussed widely in the session The panelists highly appreciated Bangladeshs regulatory move with public interest in mind using latest technology for replicable digital financial inclusion Source httptodaythefinancialexpresscombdtrade-marketatiur-stresses-role-of-regulators-in-digital-financial-inclusion-1510416319

FAO FEARS NEGATIVE BD FOOD OUTPUT GROWTH ON FLOODING Recent flooding has dampened the outlook for Bangladesh a likely third successive season of little or negative food production growth mainly rice reports UNB quoting FAO Barring major setbacks production recoveries could instead permit Bangladesh and Sri Lanka to slightly lower their 2018 imports to 11 million and 450 000 tonnes respectively according to the latest Food Outlook published by the UN Food and Agriculture Organisation (FAO) Among other rice importers Bangladesh Iraq Nigeria and the Philippines are all similarly predicted to replenish their inventories according to the report a copy of which obtained by the news agency These gains are however likely to be offset by stock reductions in the Republic of Korea Madagascar Sri Lanka and the United Republic of Tanzania all linked to output shortfalls Although the use of rice as animal feed is being sustained by the release of supplies from government granaries in Japan the Republic of Korea and Thailand more affordable feedstuffs are expected to displace rice in most other countries especially in Bangladesh China (Mainland) and Vietnam

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Since the previous Food Outlook report a series of unfavourable climate-related events have affected main paddy crops in the Northern Hemisphere which have now reached the harvesting stage This has been the case in Asia where unlike 2016 the critical Northern Hemisphere summer months were characterised by mixed growing conditions that inhibited planting expansions As a result FAOs latest forecast of world rice production in 2017 points to a broadly stable output level of 5008 million tonnes Production in Asia is now forecast to fall 550 000 tonnes below the 2016 bumper harvest to 4525 million tonnes The UN agriculture agency has said the cost of importing food is rising in 2017 driven by increased international demand for most food stuffs as well as higher freight charges The cost of importing food is forecast to rise six per cent in 2017 to $1413 trillion making it the second highest bill on record while food commodity prices have been generally stable according to the latest Food Outlook that expressed concern about the economic and social impact of this trend on poor countries Although weather disruptions are set to stall production growth this season global rice supplies are still forecast to exceed utilisation enabling a small expansion of world rice inventories Global trade is expected to rise only modestly in 2018 after staging an 8 per cent recovery in 2017 The food import bills are set to increase by double-digit rates for least-developed countries (LDCs) and low-income food-deficit countries Aromatic rice varieties have risen eight times faster than the FAO All Rice Index which is up four per cent on the year However the higher import costs come at a time when inventories are robust harvest forecasts are strong and food commodity markets remain well supplied The export of tropical fruits is promising for poverty relief and rural development as almost all production takes place in developing countries The export volumes of mango pineapple avocado and papayas are on course to achieve a total combined value of $10 billion this year according to the Food Outlook Source httptodaythefinancialexpresscombdfirst-pagefao-fears-negative-bd-food-output-growth-on-flooding-1510336161date=11-11-2017

STOCKS NUDGE HIGHER AS BANK TELECOM ISSUES SURGE Stocks extended the winning streak for the two consecutive weeks that ended Thursday as enthusiastic investors continued their buying appetite on bank and telecommunication issues Market operators said the positive momentum in some large-cap issues especially from banking telecom pharmaceuticals and food amp allied sectors helped the bourse to stay upbeat The banking sector posted the highest return of 445 per cent as 27 out of 30 listed banks ticked higher Four banks gained more than 10 per cent each The telecom sector also surged 342 per cent as Grameenphone the countrys largest market-cap listed companys shares price jumped 40 per cent to close at Tk 45690 each The market extended the winning streak riding on heavyweight bank and telecom issues said an analyst at a leading brokerage firm The week featured five trading sessions as usual Of them first session saw marginal correction while last four closed higher Week-on-week DSEX the prime index of the Dhaka Stock Exchange (DSE) jacked up by 9454 points or 155 per cent to finish at 6193 The two other indices -- the DS30 index and the DSE Shariah Index (DSES) - also closed higher at 2244 and 1341 points

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Both the indices added 4264 points and 1218 points respectively During the week banking pharmaceuticals and telecommunication sector stocks contributed more to keep the market up commented City Bank Capital Resources a merchant bank in its weekly analysis The port city bourse Chittagong Stock Exchange (CSE) also ended higher The CSCX advanced 180 points or 156 per cent to finish at 11618 International Leasing Securities a stockbroker noted that the market observed an upbeat vibe throughout the week riding on the news of soaring of net foreign investment in the capital market in the first 10 months of 2017 compared to the same period of last year Net position of foreign portfolio with the DSE stood at Tk 1623 billion in January-October compared to Tk 80 billion in the same period a year ago However some investors were reshuffling their portfolios after observing the year-end corporate declarations and first quarter earning disclosures the stockbroker added According to EBL Securities The market witnessed an upbeat tune throughout the week riding on regained confidence among the market participants The stockbroker noted that preferable year-end and quarter-end earnings declarations by several companies helped them to remain positive about market The total turnover for the week amounted to Tk 3591 billion on the DSE which was Tk 3027 billion in the week before The daily turnover averaged Tk 718 billion which was nearly 19 per cent higher than the previous weeks average of Tk 605 billion Block trade accounted for 16 per cent of the total weekly turnover where stocks like BATBC Beximco Pharma Shahjalal Islami Bank Square Pharma and Singer Bangladesh dominated the block trade board Banking sector kept its dominance over the turnover chart grabbing 35 per cent of the weeks total transaction followed by engineering with 18 per cent and pharmaceuticals 11 per cent Out of 336 issues traded 207 closed lower 116 ended higher and 13 issues remained unchanged on the DSE trading floor during the week The market capitalisation of the DSE rose 137 per cent as it was Tk 4123 billion on the opening day of the week and it stood at Tk 4179 billion on closing day of the week City Bank topped the weeks turnover chart with 5390 million shares worth Tk 184 billion changing hands followed by IFAD Autos with Tk 121 billion Brac Bank Tk 10 billion LankaBangla Finance Tk 994 million and Dhaka Bank Tk 926 million Reckitt Benckiser was the weeks best performer posting a gain of 1925 per cent while Stylecraft was the weeks worst loser slumping by 3322 per cent A new issue - Oimex Electrode-- made debut last week and soared 1042 per cent from its offer price of Tk 10 in the first trading day on Monday Source httptodaythefinancialexpresscombdstock-corporatestocks-nudge-higher-as-bank-telecom-issues-surge-1510332934date=11-11-2017

BANGLADESH GROWING AS DENIM HUB The growing global demand for fashionable denim wear encouraged both local and foreign entrepreneurs to make fresh investment in Bangladesh participants and organisers of Bangladesh Denim Expo have said Many of the 30 local denim mills are going for expansion while a couple more will come into operation with fresh investment within next two or three years they said Some foreign companies are opening offices or setting up factories in Bangladesh they added The seventh edition of the two-day Bangladesh Denim Expo was held in the city recently with the theme transparency to highlight the need for transparency in the entire denim supply chain

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A total of 65 exhibitors from 12 countries participated in the show while more than 12 thousand visitors from across the world registered online to attend the two-day expo organisers said Talking to the FE on the sidelines of the expo Md Khalid Mosharof assistant general manager at Dekko Group said the group invested Tk 15 million in setting up a new factory of 44 lines at Ashulia that would go for denim item production in June next The main reason is to tap the growing global demand he said Echoing him Syeed Ahmed Chowdhury general manager operation at Square Denim said the company expanded its denim fabric production capacity to 30 million yards from the existing 15 million yards per month mainly to meet the demand He however opined that the expansion is taking place more in garment segments than in fabric production There is no alternative to expansion to sustain the existing business and achieve the $50 billion garment export earnings target by 2021 Sharif Zahir managing director of Ananta Group said stressing the need for positive branding of the sector Meanwhile Landes a German denim accessories maker started production in its new factory at Savar from this month It invested US $05 million We opened the factory in Bangladesh as we think this is the hub for denim business and there is a lot of business prospects here Manfred Slowik chief operating officer of Landes told the FE at his stall at the expo By the end of next year the total workforce in our new plant will be 120 people as we are recruiting new people from existing 30 Mr Slowik said Landes has a target to produce 500 million pieces of leather patches used in denim trousers as accessories in a year at its Savar plant from where such accessories will be supplied to the whole Asian region Many big brands like HampM VF and Walmart are their customers he said Nezahat Boni senior account manager of Orta a Turkish denim maker said her company supplies 30 million metres of denim fabrics in Bangladesh in a year against only 800 meters in 2011 We opened an office in Bangladesh in 2011 as we cannot ignore the importance of this country as a denim hub she said Prosperity Textile a Chinese company opened its office in Dhaka last year said Md Mujibul Hoque the companys Bangladesh Sales Director The company has targeted sale of 100 million yards a year across the globe while it also targets 30-40 per cent of their sales in Bangladesh Bangladesh is now the top denim products supplier to the European Union overtaking China and third largest to the US after China and Mexico industry people said Bangladesh supplies denim products to major global buyers and retailers including levis G-Star Raw HampM Tesco Wrangler Hugo Boss Walmart and Gap Source httptodaythefinancialexpresscombdtrade-marketbangladesh-growing-as-denim-hub-1510332061date=11-11-2017

EXPORTS UP 70PC IN JULY-OCTOBER Countrys export earnings grew by 703 per cent to US$1150 billion during first four months of the current fiscal year (FY 2017-18) according to official data released Thursday The earnings were $1079 billion in the same period (July-October) last FY In October 2017 the exports grew by 642 per cent to $284 billion the Export Promotion Bureau (EPB) data showed The overall exports in the first four months slightly (074 per cent) fell short of the periods target In October however the exports were 628 per cent higher than the months strategic target Readymade garment shipments fetched $943 billion marking 699 per cent growth during the period as compared to $882 billion in the same period of last FY

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The woven items registered 385 per cent growth in earnings to $445 billion than that of $428 billion in the same period of FY 2016-17 The earnings from knitwear export during the period grew by 995 per cent to $498 billion from $453 billion in the corresponding period of last FY Jute and jute goods exports rose by 1646 per cent to $34501 million from $29626 million in the same period of FY17 The earnings from agriculture products grew by 2022 per cent during the period while home textiles by 2037 per cent The earnings from leather and leather products however fell marginally by 002 per cent to $42844 million during the period than that of $42851 million in the same period last FY The export earnings from frozen food and live fish grew by 1541 per cent to $22691 million from $19661 million of the corresponding period of last fiscal Mahmud Hasan Khan vice president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) said the exports in the first four months of the current fiscal year fell short of the expected growth mainly because of failure in maintaining the lead time and short supply of gas and electricity Terming the knitwears growth satisfactory he said woven items manufacturers have been struggling to cope with the new challenge as buyers were reducing the volume of orders due to failure in meeting the lead time Without efficient port and strong backward linkage industry especially for the woven sub-sector it will be difficult for the sub-sector to bounce back he feared He pointed out that maximum of the woven fabric requirements were being met through imports But it was taking too much time to clear the imported fabrics and additional charges as a result at the Chittagong seaport that was facing unbearable congestion The government should provide necessary policy support to the exporters to establish strong backward linkage industry for the woven sub-sector he added Source httptodaythefinancialexpresscombdfirst-pageexports-up-70pc-in-july-october-1510248870date=10-11-2017

GAS CRISIS HURTING OUTPUT IN INDUSTRIAL BELT Factories in the countrys Tongi-Gazipur industrial belt have been facing acute gas crisis over the past few months following diversion of gas to upstream power plants The crisis has deteriorated further this week albeit some improvements for a few days last week said local industrialists and businessmen According to them if the ongoing gas crisis persists they may be forced to shut down their factories Officials of the Titas Gas Transmission and Distribution Company Limited (TGTDCL) however blamed the Petrobangla for the gas crunch Sources concerned say the industrial belt of Tongi-Gazipur is suffering badly for about four to five months from low pressure of gas coupled with poor electricity voltage -- often resulting in huge volume of industrial wastages and reduction of production efficiency According to the industry insiders a factory in the industrial belt requires 04 PSI (production per square inch) as optimum gas pressure but the pressure at times comes down to as low as 01 PSI these days -- especially during the daytime Gas pressure in the area becomes normal around 10pm11pm and stays for not more than 08 hours until 6am7am an entrepreneur of the industrial belt informed Asked an official of Titas said they are at present getting nearly 250 million cubic meters (MCM) less in recent weeks against their current demand of 1800 MCM gas in Titas franchise The downstream Titas franchise area covers greater Dhaka region which includes Gazipur alongside some other adjoining districts and greater Mymensingh he said

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A Petrobangla source however cited gas supply on priority basis to a number of upstream projects including power plants as reason behind supply shortage When asked Managing Director of Akij Group Sk Bashir Uddin termed the situation really worrisome According to him two of Akij Group companies situated in the area -- Akij Printing amp Packages Limited and Dhaka Tobacco Industries -- jointly contributed nearly Tk 35 billion (3500 crore) to the national exchequer in the 2016-17 fiscal year But were very much worried about our industrial output this year as production disruption following the twin crises involving gas supply and power supply Both will eventually disrupt our retail business in every phase he quipped This often results in a high rate of industrial wastage and reduction of production efficiency he added Bangladesh Auto Re-rolling Steel Mills amp Association Chairman Manwar Hossain who is also Anwar Group Managing Director echoed the same concern Factories in the industrial belt are now operating at one-third of their capacity which may lead to labour unrest and default of huge sum of bank loans he said Such disruption of production he cautions may even cause sudden shutdown of factories According to him none of the victims in that case will be the wilful defaulters -- they will be the victims of circumstances The businessman who has a steel factory called Anwar Ispat Limited in the industrial belt called for immediate introduction of ECM (electronically controlled meters) to check unabated gas engineering in the area which he deems to be yet another reason for gas supply crunch Titas officials according to him are encouraging co-generation scheme to help address the severe gas crisis But he said co-generation will require stable and smooth gas supply Government should ensure at least 10-15 years of smooth gas supply to encourage co-generation as what he said any industrial investment requires 20 years of payback period TGTDCL Deputy Managing Director Engineer Abdul Wahab Talukdar who is also the Project Director of Sripur-Joydevpur Transmission Pipeline Project said We cannot do anything to address the crisis if there is a lack of adequate gas supply Mentioning that all factories in the industrial belt are like my babies he unequivocally said Titas is not at fault He also admitted that priority-based power plants gas supply being the reason behind the current spell of gas crunch We have already started introducing electronic volumetric corrector (EVC) to stop illegal gas use in the area he said Factories he added should go for co-generation scheme for protecting their own interest Co-generation means utilising and absorbing heat generated from gas generators which Mr Wahab said will save energy A section of the businessmen however called for stopping fertiliser production and distributing the same among people at a subsidised price after importing it to facilitate smooth supply of gas to other industries Even if the government stops fertiliser production and opts for importing it for distribution at a subsidised rate there will only be an insignificant loss compared to the overall losses now being incurred said an industrialist who has more than one factory in the industrial belt Local sources said illegal and unapproved gas connections in various industries in and around the zone are also affecting gas supply badly among other reasons Source httptodaythefinancialexpresscombdfirst-pagegas-crisis-hurting-output-in-industrial-belt-1510249018date=10-11-2017

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SINGLE PERSON MAY FORM COMPANY A single person may form a commercial firm under a provision of the companies law being updated along with some other major business-stimulating measures Official sources said the government is considering incorporating some new provisions including one allowing individuals to form any company into the updated Companies Act The other provisions are formation of an appellate tribunal to resolve legal matters without wasting much time widespread automation of companies work and submission of annual company reports online Earlier the Ministry of Commerce (MoC) had received some recommendations from the stakeholders on how to update the law they added We got most of the recommendations from the stakeholders We hope we will be able to prepare the draft Companies Act within a month Md Obaidul Azam director trade organisations (DTO) told the FE He said the recommendations the ministry had received so far were being scrutinised before preparing a draft for updating the companies act Earlier different trade bodies had sent their respective recommendations to the MoC for incorporation into the law The MoC will hold a meeting with the countrys apex trade body after assessing the recommendations and suggestions the ministry official said Talking to the FE a leader of an influential trade body said they had sent some recommendationssuggestions to the MoC for the new Companies Act for betterment of the countrys trade and business According to Section 2 (1) (c) of the Companies Act 1994 Company means a company formed and registered under this Act or an existing company Thus a company is an association of persons formed under the Companies Act 1994 with a view to achieving some common objectives Though a company is regarded a legal person it possesses similar rights and owes similar obligations like a natural person Now any individual fulfilling the new criteria may be allowed to form a firm Source httptodaythefinancialexpresscombdfirst-pagesingle-person-may-form-company-1510249090date=10-11-2017

DSE TURNOVER CROSSES TK 80 BILLION MARK The daily turnover on Dhaka Stock Exchange (DSE) exceeded the Tk 80 billion mark on Thursday as investors took fresh exposure to the banking sector Turnover a crucial indicator of the market reached Tk 870 billion on the countrys premier bourse jumping 14 per cent from the previous days transaction of Tk 765 billion It was the biggest single-day transaction since October 11 when the turnover totalled a record Tk 1092 billion Along with rising turnover DSEX the prime index of the Dhaka bourse continued to keep its gaining momentum closing 3449 points higher at 6193 points DSEX which replaced the DGEN in nearly five years back added more than 121 points or 20 per cent in the past four consecutive sessions The two other indices -- the DS30 index and the DSE Shariah Index (DSES) -- also followed suit to end at 2244 and 1341 points after gaining 1422 points and 443 points respectively Brokers said the market maintained the bullish trend for the four straight sessions as the enthusiastic investors chased the banking sector stocks The market continued the bullish trend for the four consecutive sessions as the enthusiastic investors were active for the banking food and engineering sector stocks commented EBL Securities a stockbroker in its regular market analysis

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It noted that the core index remained positive throughout the session as optimistic investors kept buying sector-wise stocks while some rebalanced their portfolios Meanwhile share price of newly listed Oimex Electrode continued to decline for the three consecutive sessions after unusual hike during its debut trading on Monday The companys share price fell 763 per cent to close at Tk 9810 on Thursday after jumping more than tenfold during the debut trading which experts termed unusual Block trade contributed Tk 241 million to the days total turnover with stocks like BATBC Square Pharmaceuticals Singer Bangladesh and Beximco Pharma dominating the block trade board Among the major sectors pharmaceuticals posted the highest gain of 122 per cent followed by banking sector (083 per cent) food amp allied (067 per cent) engineering (033 per cent) financial institutions (003 per cent) and power (003 per cent) Only telecommunication sector faced a 045 per cent correction A total number of 0140 million trades were executed in the days trading session with trading volume totalling 23171 million securities The total market capitalisation of the DSE stood at Tk 4179 billion against Tk 4168 billion in the previous session Losers however took a modest lead over the gainers as out of 325 issues traded 140 closed lower 130 closed higher and 55 remained unchanged on the DSE trading floor City Bank dominated the turnover chart for the second day in a row with 1035 million shares changing hands closely followed by Dhaka Bank LankaBangla Finance Brac Bank and Keya Cosmetics Reckitt Benckiser was also the days best performer posting a gain of 624 per cent while Qasem Drycells was the days biggest loser shedding 1235 per cent The port city bourse Chittagong Stock Exchange (CSE) also ended higher with its Selective Categories Index -- CSCX --gaining more than 62 points to close at 11618 Losers beat gainers as 113 issues closed lower 97 closed higher and 37 remained unchanged on the CSE The port city bourse traded 1604 million shares and mutual fund units generating a turnover of Tk 483 million Source httptodaythefinancialexpresscombdstock-corporatedse-turnover-crosses-tk-80-billion-mark-1510245247date=10-11-2017

TEN COS GRAB 32PC TURNOVER ON DSE The banking sector continued to dominate the transaction chart of the Dhaka Stock Exchange (DSE) accounting for 39 per cent of the total turnover on Thursday Four banks made their way to the top 10 turnover chart with City Bank leading the chart for the second day in a row Brokers said the investors chased the banking sector issues as more than 63 per cent of listed banks showed positive earnings in the third quarter (July-September period) Meanwhile top 10 traded companies including four banks grabbed more than 32 per cent of turnover on the Dhaka bourse The total turnover on the premier bourse reached Tk 870 billion up 14 per cent from the previous days Tk 765 billion The most active shares in terms of value included City Bank Dhaka Bank LankaBangla Finance Brac Bank Keya Cosmetics Square Pharmaceuticals Beximco Pharmaceuticals IFAD Autos Exim Bank and IDLC Finance According to statistics available with the DSE about 1035 million shares of City Bank were traded generating a turnover of Tk 553 million or 635 per cent of the total transactions

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The companys share price hovered between Tk 5240 and Tk 5440 before closing at Tk 5390 advancing 228 per cent over the previous session Dhaka Bank came in next with shares of Tk 395 million changing hands contributing 454 per cent to the total turnover The banks share price closed 347 per cent higher at Tk 2380 LankaBangla notched the third spot with shares of Tk 266 million changing hands making up 305 per cent of the total turnover Its share price ended 063 per cent higher at Tk 6430 Brac Bank emerged the fourth with shares of Tk 257 million changing hands grabbing 295 per cent of the total turnover The banks share price settled 123 per cent higher at Tk 107 Keya Cosmetics featured a turnover of Tk 247 million or 284 per cent of the total turnover Its share price closed 201 per cent higher at Tk 1520 The turnover of Square Pharma was Tk 241 million or 276 per cent of the total transaction Its share price ended 612 per cent down at Tk 27890 Beximco Pharma featured a turnover of Tk 211 million or 242 per cent of the total turnover Its share price advanced 428 per cent to close at Tk 10960 The turnover of IFAD was Tk 208 million accounting for 238 per cent of the total turnover Its share price closed at Tk 14070 gaining 195 per cent Exim Bank featured a turnover of Tk 196 million or 225 per cent of the total transaction The banks share price inched up 055 per cent to close at Tk 1830 IDLC also made its way to the top ten turnover chart with shares of Tk 188 million changing hands Its share price closed 223 per cent higher at Tk 9150 Source httptodaythefinancialexpresscombdstock-corporateten-cos-grab-32pc-turnover-on-dse-1510245290date=10-11-2017

FOREIGN INVESTMENT HIKE INFO DRIVES MODERATE GAINS ON DSE The Dhaka bourse Thursday closed the session posting a moderate rise in the broad index and turnover amid mixed performance displayed by major sectors On the day most of the major sectors declined but the turnover crossed Tk 80 billion-mark after two sessions on Dhaka Stock Exchange (DSE) mainly because of investors increased participation in the banking sector According to a market review of International Leasing Securities positive momentum in some big-cap stocks especially from bank food and engineering sectors helped the bourse to close in green The market started the session with a positive note and the DSE broad index DSEX witnessed little ups and downs before closing higher According to AT Capital Partners the market remained sideways till the midsession The DSEX rose again in the second half of the session and closed at 61936 up by 345 points The shariah based index DSES and blue chip index DS30 also rose marginally The turnover stood at above Tk 870 billion which was 1370 per cent higher than the turnover of the previous session The confident drive was initiated by the investors buying spree riding on the news of doubling net foreign investment in stocks year-on-year in the first ten months of 2017 said the International Leasing SecuritiesAmong the gaining sectors bank advanced 08 per cent and engineering 03 per cent Of the losing sectors pharmaceuticals amp chemicals declined 11 per cent telecommunication 05 per cent and textiles 09 per cent The banking sector grabbed 384 per cent of the market turnover at the premier bourse DSECity Bank topped the turnover chart with a value of Tk 553 million followed by Dhaka Bank LankaBangla Finance BRAC Bank and Keya CosmeticsReckitt Benckiser (Bd) limited topped the gainers chart with a rise of 624 per cent to close at Tk 18456 while Quasem Drycells was the worst loser after declining 1235 per cent to close at Tk 8230 Source httptodaythefinancialexpresscombdstock-corporateforeign-investment-hike-info-drives-moderate-gains-on-dse-1510245365date=10-11-2017

Daily News Flash 12th November 2017

35

MORE JAPANESE COMPANIES SEEK TO INVEST IN BANGLADESH Japanese Ambassador to Bangladesh Hiroyasu Izumi has said the Japanese investors are keen to invest in Bangladesh considering the lucrative offer and ideal atmosphere for foreign investment reports BSS The Japanese investors expressed more interest to invest in Bangladesh at recently-held the third round of Public-Private Economic Dialogue between Bangladesh and Japan he said while visiting the Chittagong Export Processing Zone (CEPZ) on Thursday The envoy expressed the hopes that Japanese investment in the Export Processing Zones (EPZs) will increase after the successful dialogue said a press release More and more Japanese companies will come to invest in this country he added General Manager of CEPZ Khorshid Alam maed a PowerPoint presentation highlighting the overall scenario of EPZ as well as Bangladesh Export Processing Zone Authority (BEPZA) Mentioning Bangladesh EPZs as the Bonanza for Investors he said investors from 38 countries have set up industries in the EPZs and invested US $442 billion He informed the ambassador that BEPZA has ensured three layer security system including 24-hour CCTV surveillance in the key points of EPZ and factory premises for the safety of the investors Source httptodaythefinancialexpresscombdtrade-marketmore-japanese-companies-seek-to-invest-in-bangladesh-1510250285date=10-11-2017

Source httpwwwarthosuchakcomarchives388209

১৬০

১১৫ ৪ ৫ ১০ ২০

৩০ ( )

( )

৩০ ২০১৭ ১৫

৩ ও ১২

২ ১৪ ( ) ৩৪

২৪

Source httpwwwarthosuchakcomarchives388257

Daily News Flash 12th November 2017

36

৫৩ ( ) ১৫ ও ২

১ ১ ৪৩ ২১০ ৫৩ ৪৪

৩২ ৫০

৮ ৫৮

২০

১ ২৪

৯ ২৭ ৫৫৫ ৯ ৩৮

-

Source httpwwwarthosuchakcomarchives388125

৩৫ ( ) ৩৫

২৪৫ ৩

১৭ ১১৯ ২১

ও - ১১

৯ ৬ - ৫ ৪

- ও ২

ও ১

Source httpwwwarthosuchakcomarchives388085

- ফ ৪০ ও - ৪০

৬ ( ) ৫ ৯ ৫ ৪৯২ ১১

৫৬ ৪৫১ ২৯

১২ ( ও)

( )

-

- ১০

( ও) ৮০

৪৯ ৩৭ ৯৮

ও ১৭ ১২ ঋ ও

১০ ও ৩ ১০

৩০ ২০১৬ ৩৫ ৬৩

৫ ( ) ৩ ৪৯

Daily News Flash 12th November 2017

37

Source httpwwwarthosuchakcomarchives387762

lsquo rsquo

( )

lsquo - rsquo

( ) ও

২০০২ ( ২ )

৫৪৬

ও ১৫

ও ১৫ ৭৫ ও

১০-১২ ১

১৫৫ ৬৭

ও ২০১০

ও ও ও -

ঋ ঋ

১৫ ৪ ৩

২ ২ ৪ ১৫ ৬

( )

Source httpwwwarthosuchakcomarchives388276

- ও ও

Daily News Flash 12th November 2017

38

৩৮ ও ৪৩

১০০ ৬১ ৫৮ ২২৫ ১ ০৫

Source httpwwwarthosuchakcomarchives387849

- ও ( -২)

৬ ও

ও ৫ ৩০০

ও ও

৭ ২০০

( ও )

ও ও

ও ও

২ - ও mdashlsquo

rsquo ও

-

৫ ৩০০

- ১০ - ৪২৯ -

৩২৮

- ১০

( )

২০১৪

( ও) ও ( )

( )

২ ও ও

ও ও ও

ও ২০১১- ও

ও ( )

Daily News Flash 12th November 2017

39

(১০ ) ৫ ৭৬৩

৬৩ ও

ও ( )

- ২০১৪ ও

ও ও

Source httpwwwprothom-alocomeconomyarticle1362971

ও ও

ও - ও

২০১৬-১৭ ২০ ও

ও ও lsquo rsquo

ও ১০ ও

৭৭ ২০১৭

১৬ ২৭ ও

২০১৬-২০১৭ ২০ lsquo rsquo

ও-

ও ও ও

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564382

ফ ( ও) ১১

ও ও

ও lsquo১১ ও rsquo

১০ ১৩

( ) ( )

Daily News Flash 12th November 2017

40

- ও

-

( )

( )

lsquo ও

rsquo ও

২৬ ১০

১৬

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564383

১ ৫০

ও ২০৫০

২৩

১৬ ৫৯ ২০১১

২০৩০

( )

ঋ ও ও

৬৮ ৬৭

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564384

ফ lsquo

ও ও

( ) ও

- ও

( ও ) ( )

Daily News Flash 12th November 2017

41

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564388

৪৫ ও

৮৪ ৮৩

৯২০

২৭ ২৪ ৭ ৩

৬ ৮৯

৯ ১ ৭২ ১৪ ৪৮

৪৫

ও ১৭ ৫০

১৯৩ ১০ ২০১৫-১৬ ৪১৩ ১০ ও ও

২০১৪-১৫ ৩৭৫ ৮০ ৩৫ ৭০

২০১৩-১৪ ৫১৫ ও

৮১ ২ ৫১ ৩ ২০

২ ও

৮৪

৮১

- ও

৮৩

৮২ ৯৫

ও ও - ও

ও ও ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17112200 - - - -

ও ৫০

ও ( ) ( )

ও ও

Daily News Flash 12th November 2017

42

ও ও

১০০

৮ ও

৩০০ ( )

ও ১৫০

২০০ ১০০

২০০

২৭ ৭

ও ও

ও ৩০ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111811 - - - -

-

২৭ ১১

১০

( ) ২৮৪

৬ ২৮ ৭ ১৫১

৭৪

ও - ও

ও - ও

ও ৩

৭ ১ ২৩

৯৪৪ ৮৮২ ১০

ও ৪ ৭ ও

৪ ৩৮ ও ১৫ ৪১ ২২ ৭০

২০ ৩৬ ১৩ ও

৪৬ ২২ ২০ ও

১৭ ৩৭১ ও ও

১৭ ও ৪৩ ও

Daily News Flash 12th November 2017

43

৬ ২০ ও ১৬

৩৫ ২০ ২৭

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111810 - - - - -

ও ও

১৩০ ও ১৪০

৫৫ ও ৯৭ ১১৩

৩৭

৩৪

৬১৯৩ ৬২ ১১৬১৭

৩০ ১৯

ও ও

ও - ও

৪৮ ৩১

১২ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111808 - - - - -

৩৫ ও ১০

ও ( ) ও

১০

ও ও -

২ ৩০০

২০১৪ ও

ও ৭ ২০১৪ ও ২০১৫

৫ ৭ ও ১২ ৮ ২৩

২০১৩ ১ ৪২০ ২০১৪ ১০ ৫ ১ ৫৭০

১৩ ৪ ও ১ ৩৫৮ ১০

২০১৬ ও ৩ ৫ ১ ৩১০ ২০১৪

২০১৬ mdash ২ ১ ঋ

১০ ও ২০১৩

২৯ ৮০ ২০১৪ ৫ ৭ ৩১ ৫০ ২০১৫

১২ ৩৫ ৩০ ২০১৬ ৭ ৩৭ ৮০

Daily News Flash 12th November 2017

44

২০১৪ ২০১৬

৩২ ৩৫ ও ৫০ ১৯

৫৬

১৭ ৪৬ ২০১৪ ২০১৬

৭২ ১০০ ও ১১১

২০১৪ ২০১৬ ১৫ ৬৩

৯১ ১১৪ ও ১১৮ ৮ ২৩

৮০ ৯০ ও

ও -

ও -

ও ও ও

১০ ও

১০ ও ২২

৭১ ১২ ৪২

৩২ ২৬ ও

ও ও

( ) ও

ও ২০২১ ও ও

৫ ১ ১৬

ও ও

Source httpbonikbartanetbanglanews2017-11-12137992 - - -- -

৫০০ ৫০০ ও

ও ৩০ ২০১৭

৫০০ ও ঋ ২০১৮

৩০

১ ২০ ও ১৫০

১১

Daily News Flash 12th November 2017

45

৩০০ ৬০০

( ) ও

১ ২৫ ও ১০

১০ ও

ঋ ও

৩০ ২০১৭ ৩ ও ১২ ও

( ) ২ ১৪ ২ ১

ও ৩০ ১১

( ) ও ও

( - ) ৬৬ ৫৫ ৩০

( ) ৩৪ ৯০

ও ও ও

( ) ও

ও ও ২০১৫ ৩০ ১০ ২০১৬

১২

( ) ৪১ ২০ ও ২৩ ৬০

৫০ ও

২০১৪ ৩০০ ও ১৪৮ ৪৬ ৫০

১৯১ ৬২ ৩৭ ৩১

১২ ৪৫ ৫০ ২৪

ও ( ) ১৬ ৫৩

ও ১৫ ২২

Source httpbonikbartanetbanglanews2017-11-12137966৫০০- - - - -ও -

৬৩

- ও ও

৬২ ৯৪ ৫

৬২

৯০

২০১৪ - -

- ও

২০১৬-১৭ ৫ ৬২ ও ২০১৩-১৪

১২

( ) ৯০

-

ও - - ও -

Daily News Flash 12th November 2017

46

- ও

৬২ ৯৪

২০১৩-১৪ ৭০ ৭৮ ২০১৪-১৫ ৫৪ ২২

২০১৫-১৬ ৩৯ ৩৩ ও ২৬ ২৩

ও ২০১৩-১৪

১২ ৩৬ ২০১৪-১৫ ৫ ৯১ ও ২০১৫-

১৬ ১৭ ৩০ ৫ ৬২

৩০ ২০১৭ ১০

২ ৮৬ ও ৩

ও ২৪ ( )

২৭

১৯৬৪ ১২

৪ ও ও ১৯৭২

ও ( )

ও ৩৪ ৮ ও

৯০

৪৫ ও ৫

১৯৬৪ ১৯৭২ ১৯৮৯

১০০ ও ২৬ ১৬ ২০ ৫৪৩ ৭৭

৫ - ৫১ ১৫ ৬০ ও

৩২ ৯০

Source httpbonikbartanetbanglanews2017-11-11137853 - - - - - -৬৩---

( ) ও

১০

ও ও ও

-

ও ও

ও ঋ ও

ও ২০১৪ ও

ও ও

২০১৩

( ) ও

Daily News Flash 12th November 2017

47

২০১৪

২০১৪-১৬ ও

২০১৪

ও ২০১৪

২০১৫ ২৭ lsquo ও rsquo

ও ও

২০১৬ ২৪

( )

ও ও

- ও

ও ও ১৯৮৩ ২০১৬

ঋ ( ) ৫৬০

৮৬৪

২০১৬ ২০১৯ ও

ও ১৫ ২৫ ৩০ ও ৩০

ও ঋ ও

২০১৬ ঋ ১

৩৪২ ঋ ৬ ৫২ ১২৩

ঋ ২ ৪৪৩ ঋ ১০

৮৪ ঋ ৪০

৭২৬

ও ২০১৬ ৭৪১

৪৫৭

২০৭ ২৪৪

১০ ও

ও ও ও ও ও

Daily News Flash 12th November 2017

48

Source httpbonikbartanetbanglanews2017-11-12137998 - - - - - ও- -

( )

৩০ ২০১৭ ২০

( ) ২ ১ ১ ৫৯ (

) ৩০ ( ) ১৫ ৩৭

ও ২৮ ১১

( ) ২৮

২০১৬ ৩০ ১৮ ২০

২০১৪ ও ২০

১৫ ৩০

১৮ ৮০ ও ৯ ৬০

Source httpbonikbartanetbanglanews2017-11-11137850 - - - -

ফ ৭ ২০১৭-১৮ ৭ ৩ ৭৪

( ) ও

( - ) ১ ১৫০ ৫৮

(২০১৬-১৭) ১ ৭৫ ৩ ৬০ ৭

৩ ১ ১৫৯ ২০ ৭৪

ও mdash

৬ ৬৫ ১৭ ৬৩

mdash ও ও

১৫ ৪১ ২২ ৬৯ ১০

১৯ ৬৬ ১০ ২০ ২২

mdash ও ও ও

৩৯ ৫১ ও ২ ও

১৬ ৪৬ ও ও ৬ ৯৯ ও

৩ ৮৫ ৯ ৯৫

১৯ ৮২

৮০

ও ( )

mdash

Daily News Flash 12th November 2017

49

ও ও

Source httpbonikbartanetbanglanews2017-11-10137755 - - - -৭- - --

ফ - ফ ও -ও

-ও

-ও

২৯-১০-২০১১ ৩ ( ) ২৮-১০-২০১৪

৩ ( ) ২৮-১১-২০১৬

২৮-১০-২০১৭ ৩ ( )

২০১৬-১৫৮১৩৪ ৪৪ ০৭-০৮-

২০১২ ১২(৬) ২ ( ) ৬ ( )

-ও - ও ২ ( )

৬ ( ) ও ও

-ও ৩ ( )

-

ও ও

১৯৯৪

২ ২২-০৫-২০১২ -ও ৩

- -

১৯৯৪

-ও

- ও

( )

১৯৯৪

১৯৯৪ -ও

Source httpwwwsharenews24comindexphppage=detailsampnc=1ampnews_id=6587

Daily News Flash 12th November 2017

50

ফ ফ

১৫ ও

-( ) ও

৪৯

১৬ ৮৫

৫১ ৪৯

৪ ৩৬

১৯১৩

১০০ ও ১৯০১ ১৯৬০

Source httpswwwdailystockbangladeshcom - - - -

- ( -১)

( ) ৮

৩০০ ও

( ) ১৬

- ২২৮ ৪৯ ১৮৩ ২০১৮

( ) ও

১৫০

( ) ও ৪০ ৩০

ও ও

ও ও

Source httpswwwdailystockbangladeshcom - - -

Page 2: Daily News Flash, 12th November, 2017 -  · PDF filebanglalink's revenue falls 4.57pc in q3 ... banks lack remedial strategy while npl rises worryingly

Daily News Flash 12th November 2017

2

GAS CRISIS HURTING OUTPUT IN INDUSTRIAL BELT 30

SINGLE PERSON MAY FORM COMPANY 32

DSE TURNOVER CROSSES TK 80 BILLION MARK 32

TEN COS GRAB 32PC TURNOVER ON DSE 33

FOREIGN INVESTMENT HIKE INFO DRIVES MODERATE GAINS ON DSE 34

MORE JAPANESE COMPANIES SEEK TO INVEST IN BANGLADESH 35

35

35

৫৩ 36

৩৫ 36

- ফ ৪০ 36

lsquo rsquo 37

- 37

38

39

ফ 39

40

ফ 40

41

41

ফ 42

43

43

৫০০ 44

৬৩ 45

46

48

ফ ৭ 48

ফ - ফ 49

ফ ফ 50

50

Daily News Flash 12th November 2017

3

GOVT MOVES TO BOOST REMITTANCE INFLOW An inter-ministerial committee has come up with 18 proposals to boost the remittance inflow through the formal channel and ward off the rising menace of digital hundi The development comes after the government formed a committee to investigate the shrinking inflow of remittance a major source of foreign currency for Bangladesh since fiscal 2015-16 Remittance inflow in fiscal 2016-17 was the lowest in six years which plunged the countrys current account balance in the deficit zone for the first time in five years according to data from the Bangladesh Bank The committee headed by Md Fazlul Haque additional secretary of the finance ministrys bank and financial institutions division has submitted its report on September 10 The proposals include taking legal action against the vested quarters involved in digital hundi an illegal transfer of funds from abroad Under the system the remitter deposits the amount to a vendor in hisher host country who then instructs his network in Bangladesh to deposit the sum to the mobile financial service accounts of the remitters relative The government should also take cooperation from the concerned law enforcement agencies of the host countries to prevent digital hundi Action should also be taken against the expatriate Bangladeshis with illegal assets abroad with the view to wiping out the local hundi cartel The other proposals include opening booths and help desks at airports such that remitters can deposit their hard-earned money securely just after arriving in Bangladesh The large network of post office and non-governmental organisations should be used to disburse remittance to the beneficiaries the committee suggested Another proposal is the introduction of a remittance card that would carry privileges such as priority services from high commissions and embassies hospitals and schools The number of amenities would increase progressively with the amount of remittance sent home The government should also hold talks with the host countries such that the migrant workers can send any income earned outside of their employment contracts through the banking channel The finance ministry has forwarded the report to the BB and the ministry of expatriates welfare and overseas employment on October 4 asking them to take the required measures The BB issued letters to all banks on October 4 instructing them to implement the recommendations Migrant workers sent home $116 billion last month up 1485 percent from a year earlier and 3583 percent from the previous month Remittance inflow in fiscal 2016-17 was $1277 billion down 1447 percent year-on-year Source httpwwwthedailystarnetbusinessgovt-moves-boost-remittance-inflow-1489990

SWITZERLAND FOR IMPROVING INVESTMENT CLIMATE IN BANGLADESH Switzerland Ambassador to Bangladesh Rene Holenstein has emphasised improving investment climate in Bangladesh as he sees economic opportunities in the country He is in Bangladesh with three priorities Holenstein said in an interview with news agency UNB He said his first priority is to strengthen bilateral political and diplomatic relations with Bangladesh His second priority is to develop cooperation with the Bangladesh government and people to achieve the sustainable development goals (SDGs) with their development support Holenstein will also work to strengthen bilateral economic relations between the two countries and help the Bangladesh economy grow Switzerland has been a committed and longstanding partner of Bangladesh introducing innovative ideas and solutions over the years

Daily News Flash 12th November 2017

4

ldquoOur journey started 45 years ago with humanitarian assistancerdquo The ambassador said the two countries established deep political cultural and economic relations slowly and steadily Holenstein an author of a number of books said the economic relations between the two countries in general has developed positively over the last few years ldquoOur trade has more than doubled since 2010 Major Swiss companies are currently present in Bangladesh This is very encouraging Its also encouraging to see more and more SMEs are coming to Bangladeshrdquo Asked about Swiss investment in Bangladesh he said they saw a 17-percent rise in investment last year The trade volume stood at $600 million last year with a year-on-year 16 percent growth he said ldquoIm fully aware that our trade relations are not yet at optimum level We can contribute much morerdquo He said Switzerland can promote innovative technologies particularly green technologies and this will be a contribution to Bangladeshs development Responding to a question on investment climate he said ldquoYes Ive heard some concerns However Im impressed while talking to businesspeople especially representatives of Swiss companies about their positive experiences Many people are optimistic about economic opportunities in Bangladeshrdquo ldquoOf course therere some issues that require further improvementrdquo Holenstein said mentioning infrastructure and administrative procedures The ambassador however expressed satisfaction over the security measures taken for the foreigners and foreign investors in the country Holenstein emphasised skills development improving local governance and ensuring a safe migration system in Bangladesh with assurance of providing Swiss support in these areas About the next national election in Bangladesh Holenstein said ldquoAs a friend of Bangladesh I hope the election will be fair transparent and inclusiverdquo He said a favourable and safe condition is needed to be in place so that everybody takes part in the election ldquoThe election commission has been doing a lot of consultations with political parties civil society and private sectors We welcome this inclusive approachrdquo About the Rohingya crisis he said ldquoWere very much concerned about the humanitarian situationrdquo Holenstein who has visited the Rohingya camps twice since his arrival in Dhaka praised Bangladesh government for its generosity and accepting so many people ldquoPeoples solidarity is also something extraordinaryrdquo The Swiss ambassador said the main goal is to make sure that these people can return safely and with dignity and voluntarily ldquoWe havent yet achieved that goal Well continue our efforts Were absolutely beside Bangladeshrdquo Given the extent of this humanitarian crisis Switzerland has decided to increase its financial contribution to 8 million Swiss Franc Almost 18 million foreign nationals live in Switzerland which is 243 percent of the total population The ambassador said Switzerland has always been an immigration-friendly country and many international organisations are there where foreigners are working With more than 613000 Rohingyas now in Bangladesh international agencies and partners are working on several fronts to support and protect them to avoid second wave of disaster ndash the outbreak of various diseases Holenstein who speaks German French Spanish English and Russian said he is a great fan of rock music

Daily News Flash 12th November 2017

5

ldquoI love music particularly rock music I love Bangladeshi music toordquo he said appreciating the performance of Bangladeshi band Chirkut ldquoI loved that kind of music I used to play drums I can singrdquo He said he is impressed by the eagerness of Bangladeshi people to learn innovate and try new things Source httpwwwthedailystarnetbusinessswitzerland-improving-investment-climate-bangladesh-1489993

TAKING BANGLADESHS SUCCESS STORY TO THE WORLD Before moving to Bangladesh in May among the known business challenges I was well aware of the opportunities and the positive energy for which Grameenphone is legendary in the Telenor Group I was not sure of what we would find in Bangladesh as a country but it has been an incredible experience so far Sure there are issues to be addressed problems to be solved but that is the truth for any market In my view the glass is far more than half full the opportunities far outweigh the challenges The country is experiencing stable macroeconomic indicators over the last 7 or 8 years with a growing middle-class a strong impetus to create economic zones new infrastructure and a couple of very large bridges to change the flow of traffic in the country Bangladesh is a fantastic opportunity for investors And there needs to be a concerted effort from the business community to recapture the narrative about what it means to operate here As a major player in the economy and a company listed on the Dhaka Stock Market Grameenphone too has a role to play in promoting and investing in South Asia -- and Bangladesh in particular More pertinently Grameenphone is a great example of a Bangladeshi business success story In the last 20 years mobile communications have greatly accelerated change in our culture Everybody who gets a phone here gets access to information communication security and education among other things Unarguably mobile is a big equaliser It brings education where education did not exist before it brings trade where trade is difficult it brings access to information and the democratisation of information where it was not available before It even brings avenues of entertainment into peoples lives As the largest operator in Bangladesh Grameenphone has a profound responsibility to be sustainable and profitable and to invest in the society that it serves with a view to bringing about progress and respectful socioeconomic change I strongly feel that one of Grameenphones key objectives is to make the Bangladesh economy more digital and more competitive The importance of 4G for the dream of a digital Bangladesh cannot be understated But in order to realise the true experience much more spectrum should be made available at affordable prices Grameenphones number one chosen role is to allow Bangladesh to continue to be an international competitor and to grow as well as diversify its exports There is incredible entrepreneurial and business talent in this market Their desire to build a better Bangladesh is matched to our desire to facilitate the same by providing services and infrastructure that make a difference Grameenphone is challenging the existing business models in order to provide customers the best tools allowing them to act on their environment interact with each other and transact in the marketplace Enabling these moments where customers act interact and transact is at the very core of the growth opportunity for mobile operators globally and Bangladesh is no different This does not mean we do everything It means that we enable economic growth and digitalisation We create opportunities for others to use networks to build a digital economy that creates value for our customers and grows our own business

Daily News Flash 12th November 2017

6

In addition to providing telecom services the way we do things makes a difference The way we apply our sense of ethics the way we apply our governance the way we apply our code of conduct or our way of work are humble examples of how business can be done We believe these are important contributors to the society that we serve As a corporate citizen of Bangladesh it is on us to contribute to the fabric of the nation We think there is an opportunity for Grameenphone as part of the greater business community to recapture the narrative and play a more active role in promoting the country for foreign investment to stop worrying about things that are going wrong and think about things that are going right With all due respect to our politicians who are expected to extol the virtues of investing in this market when business leaders and foreign investors carry the message that this is a great place to invest it builds greater credibility Grameenphone understands this and we carry and will continue to carry that message everywhere we go I think that as we head into 2018 and beyond there is huge potential still to grow the market and the business Bangladesh is investment-ready and investment-worthy Source httpwwwthedailystarnetbusinesstaking-bangladeshs-success-story-the-world-1489999

NBR PLANS TO LOWER FLAT REGISTRATION COST The tax administrator plans to reduce the flat registration cost and ease the complexities related to value added tax to give a boost to the real estate sector The National Board of Revenue is also finding ways to lessen the pressure on the realtors at the time of enforcing the new VAT law in July 2019 said Md Nojibur Rahman chairman of NBR Rahman spoke in a meeting with the leaders of the Real Estate and Housing Association of Bangladesh (REHAB) at Hotel Purbani in Dhaka yesterday At the meeting the realtors proposed NBR reduce the flat registration cost to 65 percent from the existing 155 percent The government should introduce a secondary market to change the ownership of flats like the market for used cards said Alamgir Shamsul Alamin president of REHAB There should be no registration fee for secondhand or used flats he said The ownership of such flats should be changed hands with only 3 percent tax like the used cars Alamin said He said the registration cost is the highest in Bangladesh among the Saarc countries The NBR is now giving emphasis on the housing sector to remove the barriers the realtors have long been facing at the time of selling flats he said Currently buyers have to spend 155 percent of a flats cost for registration which includes 4 percent gain tax 3 percent stamp fee 2 percent registration fee 2 percent local government fee and 45 percent VAT Flat sales have decreased by 60 percent in recent times due to high registration costs while the rate of launching new projects has declined by 75 percent Alamin said The association also proposed a cut in the existing 35 percent corporate tax for developer companies to help them raise their paid-up capital he said The REHAB has recently increased the paid-up capital ceiling to Tk 1 crore from Tk 10 lakh for a developer to get a membership of the association Alamin said The higher paid-up capital will increase investment in the sector he said The finance minister has asked the revenue authority to work on how to reduce the flat registration cost said Jahangir Hossain a member of the NBR A panel has also been formed to work on it he said Currently REHAB members are building around 15000 to 17000 flats every year according to the organisation

Daily News Flash 12th November 2017

7

Source httpwwwthedailystarnetbusinessnbr-plans-lower-flat-registration-cost-1489987

SOCIAL BUSINESS IS OUR FUTURE Les Canaux a historic building in Paris has officially begun its journey as Social Business House in order to promote social business and the social economy in the French capital Mayor Ann Hidalgo and Nobel Laureate Prof Muhammad Yunus together launched the social business house on Thursday Yunus Centre in Dhaka said in a statement yesterday Last year the mayor announced that the historic building will be dedicated to become the home of social business and the social economy for Paris Built in 1882 the building served as the administrative office of the Canals of Paris It is located on the 19th district of Paris which is a very vibrant neighbourhood attractive to young people Nicolas Hulot deputy prime minister of France and environment minister attended the launching ceremony as the chief guest A group of dignitaries was given a guided tour of the facilities of the social business house The house has been refurbished where all its decor carpets furniture and fittings are made from recycled materials notably ocean plastic waste paper and waste wood Yunus Centre Paris also located in the same building was also opened Yunus Centre Paris is now a registered legal entity in the city Speaking on the occasion Mayor Hidalgo said she is committed to social business and she wants to make Paris as the social business capital of the world and turn Paris as the social business city The mayor emphasised that social business is the future of the world ldquoIt is the future of humanity and it is the future of the planetrdquo She said that the present system is not sustainable Hulot highlighted that social business and the work that Les Canaux has set for itself is the most powerful way to move forward Prof Yunus said social business is like a bug a friendly bug that infects everyone who comes into contact with it because selflessness exists in every individual Source httpwwwthedailystarnetbusinesssocial-business-our-future-1489984

BANGLALINKS REVENUE FALLS 457PC IN Q3 Banglalinks revenue in the third quarter of the year declined 457 percent to Tk 1170 crore -- the lowest in nine quarters -- due to stiff competition and the growing tendency among subscribers to use multiple connections But it was not disclosed if the operator made any profit during the quarter in the financial report released by its parent company Veon on Thursday Banglalinks data revenue rose 28 percent to Tk 170 crore in the third quarter of the year on the back of acceleration of active data customer growth of 171 percent year-on-year Customer per data usage more than doubled to 523 megabytes a month Fuelled by aggressive customer acquisition campaigns Bangla-links subscriber base widened 84 percent year-on-year in the quarter taking the total tally to 314 crore and reversing the negative trend of the previous quarter Banglalinks gross income decreased and customer base shrank meaning its average revenue per user declined 86 percent year-on-year to Tk 121 The operator lost 38 lakh connections during last years SIM re-verification process As a result its earnings dropped said a senior official of the operator The report also said Banglalink is exploring alternatives to improve its capital structure ahead of 4G spectrum auction likely to take place in the first half next year as the operator would have to spend heavily to buy spectrum and roll out 4G service

Daily News Flash 12th November 2017

8

Veon a multinational telecom company headquartered in Amsterdam said it is evaluating all options to improve Banglalinks capital structures ldquoThe proceeds from any such activity may be used for refinancing of existing debt and general corporate purposes (including capital expenditures)rdquo said the financial statement without giving any specifics Jean-Yves Charlier chief executive officer of Veon had told reporters in Dhaka in July that Banglalink is ready to sell all of its 9000 towers to third parties in order to pool resources to invest to improve network quality The intention was made clear after Bangladesh Telecommunication Regulatory Commission decided to award three licences to manage mobile towers and separate telecom business from operators network infrastructure Banglalink is keen to invest $1 billion over the next three years to improve its service quality as well as support the governments Digital Bangladesh vision Since inception the countrys third largest mobile operator by subscriber base has invested over $251 billion in Bangladesh and contributed $24 billion to the national exchequer The operators 3G coverage reached 70 percent population Source httpwwwthedailystarnetbusinessbanglalinks-revenue-falls-457pc-q3-1489996

FORTY LOCAL COMPANIES TO ATTEND TEXWORLD PARIS Forty Bangladeshi textile and garment companies will participate at Texworld Paris on February 11-14 next year Noman Group has been chosen as an elite exhibitor and given space in the premium area of the show said a statement from Messe Frankfurt the organising company Companies from other countries such as India Pakistan China Myanmar Nepal and Cambodia will also take part ldquoWith such a wide range of countries the show is the most important event for sourcing apparel items Buyers come to the show expecting a wide variety of prices and qualityrdquo the statement said Texworld Paris hosts more than 1000 exhibitors and offers a rich variety of products to professional buyers from all over the world It is particularly the best place to meet buyers from all over Europe including the UK the Netherlands Germany and Turkey The Export Promotion Bureau (EPB) of Bangladesh will take part in the show with a limited number of booths The EPB is providing discounts with a garment booth costing Tk 300000 and a fabric booth Tk 475000 French designer Eymeric Francois along with Texworld consultants Louis Gerin and Gregory Lamaud will organise a Bangladesh Fashion Show in Paris during the event Gerin and Lamaud have been working with Texworld for over 10 years and have been awarded the prestigious Golden Needle Award from ESMOD International Paris Apparel Sourcing Paris the number one European trade fair for worldwide apparel sourcing will also take place at the same time and location Source httpwwwthedailystarnetbusinessforty-local-companies-attend-texworld-paris-1489975

STANCHART TOP OFFICIAL IN TOWN Anna Marrs regional chief executive officer of Standard Chartered Bank for Asean and South Asia has arrived in Dhaka for an official visit During the visit she will meet with some of the banks key stakeholders regulators and clients the bank said in a statement

Daily News Flash 12th November 2017

9

Her visit comes following recent changes in the banks senior management with Naser Ezaz Bijoy being appointed as the CEO of Standard Chartered Bangladesh Bijoy replaced Abrar A Anwar who took charge of the banks operations in Malaysia ldquoAnnas visit reiterates the Groups strong commitment to drive commerce and prosperity in Bangladesh and aid the development of the nations financial sectorrdquo said Bijoy in the statement ldquoAs the oldest financial institution in the country with a heritage of over 112 years and deep local knowledge we remain firmly committed to being a partner in progress to our nationrdquo Marrs is also the CEO of Standard Chartereds commercial and private banking business globally She joined Standard Chartered as group head of strategy and corporate development in January 2012 In her role as the head of strategy Marrs led reviews of the banks businesses globally with notable projects focusing on Nigeria China and India Prior to joining Standard Chartered Marrs was a partner in McKinsey amp Companys banking practice She started her career at DE Shaw a New York-based investment firm Marrs holds an MBA from London Business School and an undergraduate degree from Northwestern University in Chicago Source httpwwwthedailystarnetbusinessstanchart-top-official-town-1489969

EXPORTS SPRING BACK

Exports bounced back in the month of October fetching $284 billion on the back of higher shipments of apparel products ldquoYes garment export is rebounding after a slowdown over the last few monthsrdquo said Siddiqur Rahman president of the Bangladesh Garment Manufacturers and Exporters Association Garment shipments which typically fetch 82 percent of the export earnings brought home $229 billion last month up 4136 percent from the previous month and 602 percent from a year earlier ldquoI hope garment shipments will only increase from here onwards as the peak season is coming uprdquo he added Octobers receipts are higher than the previous months by 399 percent and the previous years by 637 percent according to data from the Export Promotion Bureau The amount which beat the target of $268 billion set by the commerce ministry for the month takes the tally so far in the fiscal year to $1151 billion In the first four months of fiscal 2017-18 leather and leather goods shipment the second largest export earning sector after garment declined slightly It raked in $42844 million down 002 percent from a year earlier But jute and jute goods the next big export earner saw its receipts soar 1646 percent to $34501 million during the period The sectors prospects on the global stage brightened after the long-delayed diversification of the product range and the higher demand for Bangladeshi made jute yarn for carpets and rug manufacturing in Turkey and some Middle-eastern destinations according to industry people Moreover jute exports to Japan and Russia are increasing due to higher demand of natural fibre-

Daily News Flash 12th November 2017

10

made products there exporters said Home textile exports increased 2037 percent year-on-year to $26079 million while the shipment of agricultural products like vegetable fruits spices cut flowers grew 2022 percent to $20321 million Frozen fish live fish and shrimp export increased 1541 percent to $22691 million which is 3721 percent higher than the target for the period Shrimp exporters said they have been receiving better prices from buyers as the demand for the black tiger variety of shrimp increased in the western world Last year shrimp exporters received $550 to $650 for a pound of shrimp but this year they are receiving between $750 and $8 according to exporters Pharmaceuticals exports grew 1731 percent year-on-year to $3219 million and furniture exports 1881 percent to $1415 million Source httpwwwthedailystarnetbusinessexports-spring-back-1489108

EXPORTERS SEEK LONG-TERM TAX ENERGY POLICIES Exporters yesterday demanded long-term and stable tax and energy polices such that they can make their future investment plans accordingly ldquoWe need a long-term roadmap from the government on taxes and energy prices and supplyrdquo said Fazlul Hoque former president of Bangladesh Knitwear Manufacturers and Exporters Association Every year before the budget the National Board of Revenue increases the source tax on export receipts only to bring it down later following requests from businessmen or under political pressure he said For instance the government has been importing liquefied petroleum gas for supplying to the industrial units But it is not clear yet how and when the gas would be supplied to the industrial units he said ldquoHowever it is very simple to fix the rate for the long term so that the businessmen can predict their expenditure and plan for futurerdquo Hoque said at a roundtable on the export potential of Bangladesh Bangla daily the Prothom Alo and banking giant HSBC jointly organised the discussion at the newspapers office in Dhaka where a minister exporters bankers manufacturers and entrepreneurs spoke Siddiqur Rahman president of Bangladesh Garment Manufacturers and Exporters Association echoed Hoques views He also complained about the poor state of the premier Chittagong port and airport in Dhaka Not only the sea port and airport the poor state of the Dhaka-Ashulia highway is also responsible for the bad transportation system The truckers demand higher fares because of the rundown roads between Dhaka and Ashulia-Savar he said Subsequently he called for the highways to be expanded into six lanes as hundreds of garment factories are located on both sides of the road David Hasanat chairman and chief executive officer of Viyellatex Group a leading garment exporter said the garment sectors success stories should be spoken of more ldquoWe should also continue with the PR initiative to carve out a positive picture of the countrys successful garment sectorrdquo he added The exporters of Bangladesh are responsible for not only driving economic growth but also for establishing the Bangladesh brand across the world said Francois De Maricourt chief executive officer of HSBC Bangladesh Muhammad Shohiduzzaman country head of global trade and receivables finance of HSBC Bangladesh said the popularity of export through open accounts system has increased worldwide due to simplicity of the process Bangladesh can also adopt it instead of the time-consuming and traditional letters of credit system he said

Daily News Flash 12th November 2017

11

Saiful Islam president of Leathergoods and Footwear Manufacturers and Exporters Association of Bangladesh (LFMEAB) said the condition of the customs department at the Chittagong port has worsened Customs officials take a lot of time to scrutinise the imported goods meant for manufacturing in the factories Islam said adding that the Chittagong port should have a contingency plan to avoid any kind of sudden deterioration in the system Abu Taher former chairman of the LFMEAB said the global market size of leather goods is $240 billion and in a few years time China will be importing another $100 billion worth of leather and leather goods and footwear ldquoSo we have a lot of opportunity to export leather goods worldwide We need export diversificationrdquo Taher said The demand for diversified jute goods like yarn has been increasing worldwide so the scope for jute and jute goods exports is also rising worldwide said Mahmudul Haque managing director of Sadat Jute Industries Limited ldquoWe need the governments support to make the best of this global opportunityrdquo he added MA Mannan state minister for finance and planning said sometimes the governments activities are stopped through filing writ petitions in the court ldquoThis is one of the major reasons for the slow progress of the governments development projectsrdquo he added Abdul Qayyum associate editor of the Prothom Alo moderated the roundtable Source httpwwwthedailystarnetbusinessexporters-seek-long-term-tax-energy-policies-1489123

DOLLAR SUDDENLY BECOMES DEARER

A frequent traveller who often buys foreign currency from an international bank in Dhaka was charged about Tk 86 for a US dollar on Wednesday Just a month ago he bought a dollar for Tk 83 This sudden rise in dollar price might not make much of a difference to individuals who purchase foreign currency in small amounts and infrequently but for importers who have to settle huge bills it is a major blow For instance if the price of a dollar goes up by even Tk 1 the importer has to bear an additional cost of Tk 10 lakh for $1 million Presently the bills for collection sell rate (at which import payments are made) of a dollar hovers around the Tk 83-mark and the rate goes up further for foreign banks that dominate the currency market The situation has forced the Bangladesh Bank to intervene sitting down with the banks and treasury officials twice in the last two weeks other than selling greenbacks Bankers blamed the depreciation of the local currency on the mismatch between demand and supply of the dollar

Daily News Flash 12th November 2017

12

Remittance and exports the two major sources of foreign currency for Bangladesh are in the slow lane while imports have ballooned Yesterday the inter-bank exchange rate of the US dollar stood at Tk 8095 up from Tk 7849 a year earlier The central bank has already sold $126 million to banks this month to halt the depreciating trend of the taka according to a Bangladesh Bank official ldquoBut it is not yielding the desired result as the demand for the US dollar continues to riserdquo From July 1 to November 9 the central bank has sold $440 million to banks In contrast it sold $175 million and purchased $193 billion during the course of fiscal 2016-17 Some banks are now trading the US dollar with each other bypassing the inter-bank exchange rate set by the central bank meaning that they completed the transaction beyond the rate the BB official said The central bank has put a cap on the US dollar at inter-bank exchange rate plus Tk 2 on April 27 in a meeting with the Association of Bankers Bangladesh with a view to keeping the market stable Besides on Monday it warned a number of banks for such unethical practice and asked them to strictly follow the inter-bank rate to settle foreign exchange transactions among them ldquoSome banks had secretly struck up deals between themselvesrdquo said Md Arfan Ali managing director of Bank Asia adding that the banks were forced to settle transactions at the higher rate because of the scarcity of the US dollar Banks usually do not get greenbacks from the central bank which compelled them to settle the deal avoiding the inter-bank rate said Syed Mahbubur Rahman managing director of Dhaka Bank Subsequently he urged the government to take initiatives to increase export earnings and remittances to ensure steady supply of the US dollar ldquoThe current account balance posted a huge deficit in the first quarter of the fiscal year This reflects the existing foreign currency shortagerdquo he added Between the months of July and September the current account deficit stood at $179 billion in contrast to $539 million in the surplus a year earlier according to data from the central bank During the period the trade deficit widened to $365 billion from $156 billion a year earlier Source httpwwwthedailystarnetbusinessdollar-suddenly-becomes-dearer-1489096

POLICY SUPPORT NEEDED TO DIVERSIFY EXPORTS ANALYSTS The government should extend its policy support beyond the garment sector in order to diversify exports said experts yesterday ldquoWe will have to give importance to various promising sectors which are apparently not visible like the garment sector to diversify exportsrdquo said Prof Wahiduddin Mahmud an eminent economist He said the government would have to provide subsidies to small sectors mostly manufacturing industries to carry on the existing export growth momentum He was speaking at the Bangladesh Enterprise Institutes stakeholder consultation workshop on ldquoExport Diversification Challenges and Prioritiesrdquo IFIC Bank organised the programme at its headquarters in Dhaka Commerce Minister Tofail Ahmed said Bangladesh would be able to reach its export target of $60 billion by 2021 Prof Mahmud said the manufacturing sector should be focused to make the countrys growth export-led Otherwise it would not be possible to maintain the current share of exports to the GDP after two or three years Salman F Rahman vice-chairman of Beximco Group who chaired the workshop said the government will have to extend the bonded warehouse facilities to all sectors and give cash incentives to small sectors

Daily News Flash 12th November 2017

13

He said the government is cutting various policy supports including cash incentive for the garment sector ldquoBut it is not the right time to discontinue the incentivesrdquo The businessman urged the government to continue its support so that the garment sector can maintain its growth momentum Mustafizur Rahman a distinguished fellow of the Centre for Policy Dialogue said intra-garment diversification needs to continue to boost exports He said the exchange rate should be kept at the level that helps exporters The economist said pharmaceutical leather and light engineering sectors have huge opportunities to contribute to exports if they receive supports Allah Malik Kazemi change management adviser to the Bangladesh Bank said the global slowdown has affected the exporters He said the central bank keeps the interest of exporters in mind while managing the foreign exchange market Md Nojibur Rahman chairman of the National Board of Revenue said there is political commitment from the government to stand by exporters He emphasised export diversification saying the NBR also has a role to play by way of supporting small sectors Kazi M Aminul Islam executive chairman of the Bangladesh Investment Development Authority said the government would have to put more emphasis on agriculture and manufacturing sectors to diversify exports He said the garment sector grew fast riding on the policy support provided by the government in areas such as bonded warehouse exchange rate and incentives ldquoOther promising sectors should be provided the same policy support so that they can growrdquo he said Mohammad A Razzaque project leader of the BEI said it is stated that the non-garment exports will not grow because of the policy support provided to the garment sector He disagreed with the argument saying promoting export diversification and maintaining the garment sector dynamism must go hand in hand BEI President Farooq Sobhan also spoke Source httpwwwthedailystarnetbusinesspolicy-support-needed-diversify-exports-analysts-1489081

DIGITAL HUNDI SHRINKS REMITTANCE FLOW THROUGH BANKS BIBM Hundi traders have been fast transferring remittance to relatives of expatriate Bangladeshis through mobile services which have resulted in a fall in the amount of money sent through banking channels This was reflected in a research report by the Bangladesh Institute of Bank Management (BIBM) The report titled ldquoIncreasing flow of remittance through banking channel Bangladesh contextrdquo was placed at a seminar at the BIBM auditorium yesterday A six-member team led by BIBM Director Shah Md Ahsan Habib prepared the report According to the report remittance flow decreased in recent times all over the world but the fall in Bangladesh was more as it accounted for a considerably high amount of remittance generated in total The report identified several reasons for which remittance was plunging including bank branches being distant from the houses of remitters relatives The report also mentioned a lack of good behaviour on the part of bankers requirement of various documents and weekly holidays as causes BIBM Supernumerary Professor Yasin Ali said the scope of mobile banking has much increased in the last five year but banks have failed to utilise the channel He said banks have to provide remitters the opportunities which were offered by unofficial channels otherwise inflow of remittance through the banking channel would plummet

Daily News Flash 12th November 2017

14

Another BIBM Supernumerary Professor Helal Ahmed Chowdhury said the cost of sending remittance through banking channels was higher the effect of which was falling on remittance inflow Chowdhury said an initiative has to be taken to slash the cost of transferring remittance to increase the inflow through banking channels SK Sur Chowdhury deputy governor of Bangladesh Bank said remittance flow to Bangladesh declined by 1110 percent in 2016 due to lower oil prices and fiscal policy tightening in the Gulf Cooperation Council countries It is hoped that awareness programmes would encourage non-resident Bangladeshis to come forward to know the importance of channeling their money through banks he said Chowdhury also said to ease the flow in the formal channel Bangladesh Bank has reduced the security deposit requirement for exchange houses abroad to establish drawing arrangements with local banks In addition to their own bank branches and ATM booths banks are now using the branch networks of microfinance institutions and post offices as sub agents for remittance distribution Remittances are also distributed through agent banking such as that provided through Singer Bangladesh Limited outlets he said Furthermore Bangladesh Bank has established a separate ldquoFinancial Integrity and Customer Interest Protection Departmentrdquo to handle complaints and suggestions of customers or stakeholders at home and abroad to ensure smooth and hassle free services The ldquo16236rdquo hotline is to address customers hassles if any He said at the moment no bank can take more than two days in reaching remittance to designated beneficiaries Source httpwwwthedailystarnetbusinessdigital-hundi-shrinks-remittance-flow-through-banks-bibm-1489075

JOINT VENTURE TO PRODUCE 600MW IN MATARBARI

A joint venture between Japans Mitsui amp Co and a state-run Bangladeshi company is going to set up a liquefied natural gas-based power plant at Matarbari in Maheshkhali upazila to produce 600 megawatts of electricity Coal Power Generation Company Bangladesh Ltd yesterday signed a primary agreement with Mitsui amp Co to this effect in Dhaka on Wednesday according to a statement of the power and energy ministry The companies will have 50-50 ownership in the joint venture that will complete the project by 2021 The government has taken initiatives to import a huge amount of LNG from next year Both land-based and floating LNG terminals will be set up The government has approved two floating LNG terminals each of which will supply 500 million cubic feet of gas per day In July state-run Petrobangla and US-based Excelerate Energy signed the final deals to set up Bangladeshs first LNG terminal in Maheshkhali which will supply gas to the national grid from early 2018 The government also awarded Summit Group the work to set up the countrys first floating LNG terminal also in Maheshkhali This one is due for commissioning by next October Source httpwwwthedailystarnetbusinessjoint-venture-produce-600mw-matarbari-1489069

Daily News Flash 12th November 2017

15

EXPORTS TO EU STATES BUT GERMANY POST ENCOURAGING GROWTH

Bangladeshrsquos export earnings from European countries except Germany registered a significant growth in the July-October period of this financial year 2017-18 riding on an excellent performance of readymade garment products According to the Export Promotion Bureau data exports to major European countries registered double digit growth in the four months of FY18 while the RMG export to Germany fell in the period compared with that in the same period of last fiscal year The EPB data showed that Bangladesh suffered a negative export growth in two promising markets mdash Japan and China mdash in the July-October period of FY18 Exporters said that earnings growth in the EU markets increased in recent months as the euro appreciated against the dollar They also said that buyers and brands cut import orders from Bangladesh for their Chinese stores that caused the negative growth Export earnings from the UK the second largest export destination for Bangladesh in the EU grew by 2084 per cent to $134 billion in the four months of FY18 from $111 billion in the same period of FY17 Earnings from apparel products fetched $125 billion with 2227 per cent growth in the period Export earnings from Spain in July-October in FY18 grew by 2581 per cent to $80102 million from $63670 million in the same period of FY17 Export earnings from the Netherlands rose by 3416 per cent to $40108 million in the four months of FY18 Bangladesh earned $58097 million from France with 270 per cent growth and $46374 million from Italy with 1206 per cent growth Exports to Germany the second largest export destination for Bangladesh in the July-October period of FY18 stood at $186 billion the same amount earned in the July-October period of FY17 Anwar-ul-Alam Chowdhury Parvez former president of the Bangladesh Garment Manufacturers and Exporters Association said exports depend on season and the earnings from Germany would increase from November RMG export earnings fell by 039 per cent to $173 billion from $174 billion in the market data showed lsquoWe have to wait to identify the reasons for the stagnancy of growth in the German market Hopefully the export would rebound in the market in the coming monthsrsquo Md Fazlul Haqe former president of the Bangladesh Knitwear Manufacturers and Exporters Association told New Age on Saturday

Daily News Flash 12th November 2017

16

Export earnings from the US the largest destination for Bangladeshrsquos exports in the July-October period of FY18 grew by 228 per cent to $187 billion from $183 billion in the same period of FY17 Apparel export to the market grew by 244 per cent to $168 billion from $164 billion The EPB data showed that the countryrsquos export earnings from Japan in the July-October period of FY18 fell by 394 per cent to $33390 million from $34760 million in the same period of FY17 Export earnings from China in the four months of the FY18 decreased by 2242 per cent to $22475 million from $28971 million in the corresponding period of last fiscal year Parvez said that the domestic consumption in China slightly decreased in recent times and global retailers also cut import orders from Bangladesh for their Chinese stores due to congestions in the Chittagong port lsquoWe are losing many orders from global brands as we have been failing to meet lead time due to the problem in the portrsquo he said Source httpwwwnewagebdnetarticle28200exports-to-eu-states-but-germany-post-encouraging-growth

REHAB LEADERS DEMAND CUT IN TAXES Realtors on Saturday urged the government to cut tax rates at different levels of the housing sector to give a much-needed boost to the sector They also requested the government not to raise question over the source of the minimum paid up capital (Tk 1 crore) a real estate company requires to be a member of the Real Estate and Housing Association of Bangladesh REHAB leaders made the requests at a joint meeting with the National Board of Revenue held in a city hotel on the day NBR chairman Nojibur Rahman attended the meeting as chief guest while REHAB president Alamgir Shamsul Alamin senior vice-president Nurun Nabi Chowdhury Shaon and vice-president Liakat Ali Bhuiyan were also present among others Alamgir said that the REHAB made it mandatory for its member companies to have Tk 1 crore paid up capital and he requested the government not raise question over that money The government earlier made it mandatory for all developer companies to be REHAB members Alamgir also urged the government to form a re-financing fund worth Tk 20000 crore under Bangladesh Bank to provide low-interest and long-term loans to the potential apartment buyers He demanded apartment registration fee to be reduced to 65 per cent from the existing 155 per cent mentioning that other SAARC countries maintained it at 4-7 per cent Alamgir said that the government was losing huge revenue due to the high apartment registration fee as buyers were showing unwillingness to register their apartments at high cost Nurun Nabi urged the government to meet the REHABrsquos longstanding demands to save the housing sector from ruination He also called for reducing corporate tax of non-public traded companies to 20 per cent from the existing 35 per cent He sought a cut in the tax on signing money to 75 per cent from the existing 15 per cent Alamgir also appealed for reducing tax rate on apartment resale to 3 per cent He also sought total 15 per cent tax and VAT on professional services like engineering and architecture from the current 27 per cent Nojibur said that an NBR-REHAB joint working group would be formed to work together for the betterment of the housing sector He also requested REHAB leaders to provide opinions on the income tax law that would be amended soon He assured them that the NBR would consider their demands Source httpwwwnewagebdnetarticle28201rehab-leaders-demand-cut-in-taxes

Daily News Flash 12th November 2017

17

BrsquoDESH BHUTAN START TRADE DATA SHARING IN JAN Bangladesh and Bhutan have decided to start exchanging export-import data from January 1 to verify trade documents to check duty evasion and other customs-related offences through misdeclarations of goods and prices during trades between the two countries The data will be mailed in the first week of the subsequent month according to the decision taken at the 3rd Bangladesh-Bhutan joint group of customs meeting held in November 7-8 in Thimphu the capital of the Himalayan kingdom Initially both sides will exchange export data of three commodities and gradually the scope will be expanded to all the export items Delegations from the both sides also agreed to boost the existing trade volume between the two countries and improve infrastructure at land customs stations of Bangladesh and Bhutan to facilitate border trade Bhutan informed the meeting that they were establishing a mini dry port at Phuentsholing which would boost border trade between the countries National Board of Revenue member (customs audit modernisation and international trade) Khondaker Muhammad Aminur Rahman and Bhutanrsquos Department of Revenue and Customs director Yonten Namgyel led the respective delegations at the meeting Following a request from Bangladesh Bhutan agreed to put necessary information including country of origin name and address business identification number and tax identification number of importer on the export packages as per the current Import Policy Order of Bangladesh Both sides also agreed to hold ground-level customs meetings twice a year alternately at Phuentsholing of Bhutan and Burimari of Bangladesh to resolve customs-related problems smoothly The two countries also decided to raise the issue of improving the infrastructure at Changrabandha (Indian LCS opposite to Burimari of Bangladesh) and Jaigaon (Indian LCS opposite to Bhutanrsquos Phuentsholing) to ensure smooth border trade between the countries Bangladesh also requested the landlocked kingdom to use Nakugaon-Dalu-Gelephu route for their imports and exports as Bangladesh has decided to upgrade Nakugaon LCS as a trade hub for border trade with India and Bhutan Bangladesh side also underscored the potentials of use of riverine routes as mode of transport for export and import of goods Bhutan may also get duty-free market access for limestone powder export to Bangladesh according to the decision of the meeting Mohammad Ehteshamul Hoque NBR first secretary of customs modernisation and international trade on Saturday told New Age that both countries had resolved some small-scale problems to facilitate bilateral trade and committed to further enhancing border trade The planned ground-level meeting of customs officials will also play a role in identifying and resolving bottlenecks in trade between the two nations he said According to the NBR data Bangladesh exported products worth $322 million to Bhutan in the fiscal year 2016-2017 while it imported from the country products worth $3315 million Bangladeshrsquos highest export earnings from the country were $913 million posted in the FY 2011-2012 and the earnings have been declining with fluctuations over the years Bangladeshrsquos major export items to Bhutan are bakery items fruit and vegetable juices tableware kitchenware and toiletry articles of plastics non-alcoholic beverages menrsquos singlets briefs pyjamas medicament mixtures rice aluminium structure and few garment items On the other hand the country imports mainly citrus fruits stone granite dolomite limestone ferro-alloys apple and gypsum from Bhutan Source httpwwwnewagebdnetarticle28202bdesh-bhutan-start-trade-data-sharing-in-jan

Daily News Flash 12th November 2017

18

TAX FAIRS AT ALL ZONES BEGIN TODAY Income tax fair begins today at all income tax zones across the country to provide taxpayers with services in a similar hassle-free atmosphere they got at recently-concluded countrywide weeklong tax fair National Board of Revenue chairman Md Nojibur Rahman on Saturday in a statement said that the decentralised fair at the zones with similar facilities like the weeklong national tax fair would continue till November 30 the last day of income tax returns submission Tax officials will also start issuing income tax ID cards from November 20 to the taxpayers under each tax zone in Dhaka Issuance of ID cards will continue till November 28 There are 31 income tax zones across the country including 15 in Dhaka and four in Chittagong Officials of the revenue board said that the NBR took the decision so that all taxpayers could file their tax returns without any hassle with maximum support from tax officials Initially the NBR planned to issue ID card from November 9 which was deferred due to lack of preparation Source httpwwwnewagebdnetarticle28203tax-fairs-at-all-zones-begin-today

BTRC LIKELY TO LOSE RIGHTS OVER UNUSED BALANCE IN BLOCKED SIMS Mobile phone operators are likely to get relief from paying the government the unused balance in the SIM cards that would be blocked by the telecom regulator for various reasons especially for illegal voice-over internet protocol calls Mobile operators however will have to return the unused balance to its owner if claimed said officials of Bangladesh Telecommunication Regulatory Commission They said that a proposed amendment to the 4G licencing guidelines that would be passed by the telecom regulator in the upcoming commission meeting following instruction from prime ministerrsquos ICT advisor and posts and telecommunication ministry The instruction was made based on a meeting between the mobile phone operators and the government high officials on the proposed 4G licencing guidelines they said As per the BTRC approved draft 4G licencing guidelines that would be revised it was mandatory for all the operators to pay the BTRC the remaining balance amount of the identified illegal prepaid VoIP callers and unsuccessful or fake SIM registration of service connection fund at the time of deactivating them It was also mentioned in the guidelines drafted earlier that there would not be any rights of the mobile network operators over the forfeited account balance of the illegal VoIP callers Whereas it was also mandatory for the operators to pay the remaining balance of such SIM cards within ten days of the following month In case of deactivation of SIM cards for illegal VoIP calls mobile operators would keep the remaining balance while operators would have to pay the balance to its owner if claimed for deactivation of SIM cards for any other reason Such specification about the unused balance would help the operators while the government would lose its rights over the forfeited fund BTRC officials said Such initiative might foil another BTRC move to take stand against the mobile phone operators for non-payment of unused balance in the SIM cards which were blocked by the telecom regulator for various reasons Countryrsquos leading mobile phone operator Grameenphone in February this year deposited Tk 733 crore to the telecom regulator against the unused balance in the connections that were blocked between 2008 and 2014

Daily News Flash 12th November 2017

19

While other operatorsmdash Banglalink Robi Airtel Citycell and Teletalk mdash were yet to pay any fund to the commission in this regard Airtel formerly known as Warid Telecom has already merged with Robi in November 2016 Apart from the unused balance issued the government acknowledged almost all the issues raised by the mobile phone operators about the 4G licencing guidelines BTRC officials said Source httpwwwnewagebdnetarticle28107btrc-likely-to-lose-rights-over-unused-balance-in-blocked-sims

BONDED WAREHOUSE BACK-TO-BACK LC SHOULD BE OPEN TO ALL EXPORTERS Bonded warehouse facility and back-to-back letter of credit facility should be open for all for the export of all sorts of goods to diversify export products said experts and businesses at a workshop on Thursday They came up with the observation while speaking at a stakeholdersrsquo consultation workshop on lsquoExport Diversification Challenges and Prioritiesrsquo organised by Bangladesh Enterprise Institute at IFIC Tower in Dhaka Commonwealth Secretariat adviser and head of international trade and regional cooperation Section Mohammad Razzaque presented a keynote paper on lsquoRevitalising Bangladeshrsquos export trade Policy issues for growth acceleration and diversificationrsquo Razzaque in his presentation said that there should be alternatives of diversifying export destinations and products to achieve $60 billion export target by the year 2021 Although the country has continued to achieve more than 6 per cent growth export to GDP ratio has declined a bit in last couple of years and to increase the ratio for sustaining economic growth there was no alternative to increasing exports he said To facilitate export diversification and ensure equal facility treatment among the exporters all the sectors should get bonded warehouse facility as well as back-to-back letter of credit facility that helped the countryrsquos readymade garment sector to grow Razzaque said Salman F Rahman private sector development advisor to prime minister also said that the bonded warehouse and back-to-back LC facilities should be opened for all to support other exporters Suggesting for the continuation of existing facility for the RMG sector Salman also president of BEI said lsquoWe need product diversification for the economic growth but not at the cost of RMG sectorrsquo Former Dhaka University economics department chairman Wahiduddin Mahmud said that the gov ernment should set a broad category and announce subsidy and cash incentives for longer period to help the sectors to contribute to exports as well as economic growth Speaking about the exchange rate issue the eminent economist also said lsquoAs balance of payment has turned negative the government should not try to control the exchange rate anymorersquo Centre for Policy Dialogue distinguished fellow Mustafizur Rahman said lsquoApart from diversification of other products intra-RMG sector product diversification is also important as we have created a strong foothold in the sector and itrsquos a one trillion dollar marketrsquo Speaking about the repeated change in policy Federation of Bangladesh Chambers of Commerce and Industry president Shafiul Islam Mohiuddin said lsquoElectricity price has been doubled with just a so-called hearing and that led our foreign partners to backtrackrsquo Speaking about the 070 per cent source tax imposed on apparel sector commerce minister Tofail Ahmed said rsquoAlthough we cannot do a lot for the sector but such tax should not remain on the sectorrsquo Source httpwwwnewagebdnetarticle28039bonded-warehouse-back-to-back-lc-should-be-open-to-all-exporters

Daily News Flash 12th November 2017

20

GOVT TO SPEND FUND FOR TOBACCO CONTROL MEASURES CAMPAIGNS The government has finally framed a policy on the use of health development surcharge it imposed on tobacco products three and half years ago The health and family welfare ministry on Wednesday issued the gazette notification of Health Development Surcharge Management Policy-2017 identifying 16 sectors for spending the fund on The fund will mainly be used for limiting the demand for and supply of tobacco products financing tobacco control activities conducting researches and campaigns and operating Tobacco Tax Cell of the National Board of Revenue The revenue board in July 2014 imposed 1 per cent surcharge on all tobacco products both locally produced and imported ones aiming to spend the fund for implementing the programmes to control and discourage the use of tobacco products and prevent tobacco-related diseases In the last three fiscal years (2014-15 2015-16 and 2016-17) the tax authority collected around Tk 900 crore as health development surcharge from tobacco products including cigarette bidi gul zarda and other smoking and chewing tobacco products But the fund remains idle as the health ministry has not got the access to the fund over the years as there was no policy on how to the money be used Officials of the revenue board said that formulation of the policy had paved the way for utilising the fund for tobacco control and prevention of tobacco-related diseases They said that every year around Tk 300 crore would be added to the fund According to the policy the collected surcharge will be used for financing national tobacco control activities operation of the NTCC under the ministry campaigns in the mass media on health hazards of tobacco products and tobacco control and providing trainings to stakeholders The fund will also be used for setting up National Quitline a hotline to help people quit tobacco consumption and providing financial and technical support to organisations for implementation of programmes to prevent tobacco-related non-communicable diseases Programmes will also be taken to create awareness among farmers against tobacco cultivation and motivate them to cultivate alternative crops according to the policy According to the policy a Health Development Surcharge Management Committee headed by the health minister will supervise the proper use of the fund The National Tobacco Control Cell will provide secretarial support to the committee Fund from other sources such as possible imposition of any surcharge on products hazardous to health in future and donations from local and foreign sources will also be added to the fund it said The expenditures from the fund will be audited in line with the methodology followed for the other government agencies it said According to the Global Adult Tobacco Survey-2009 some 413 crore people or 43 per cent of the total population of Bangladesh consume tobacco products On the other hand 430 crore people are victims of indirect smoking According to the World Health Organisationrsquos 2004 data 57000 people die every year in Bangladesh suffering from tobacco-related diseases The government has taken an initiative to make the country smoking free by 2040 Source httpwwwnewagebdnetarticle28040govt-to-spend-fund-for-tobacco-control-measures-campaigns

STUDY BLAMES MOBILE HUNDI FOR FALLING REMITTANCES THRU BANKING CHANNEL A study of Bangladesh Institute of Bank Management on Thursday blamed Hundi through mobile financial services including bKash Rocket mCash and UCash for decreasing remittance through banking channel

Daily News Flash 12th November 2017

21

The study conducted by a six-member team identified distance of bank branches delay in receiving money misconduct by bankers submission of various documents weekly holidays of banks and illegal immigrants as the reasons for increasing remittance inflow through mobile Hundi The six-member team headed by BIBM director Shah Md Ahsan Habib presented the study at the seminar presided over by BIBM director general Toufic Ahmad Choudhury held in the auditorium of the institute in the city lsquoIn Bangladesh remittances declined by an estimated 111 per cent in 2016 in the face of lower oil prices and fiscal tightening in the GCC countries Among other reasons use of Illegal channel by the expatriates is doing harm to our countryrsquo Bangladesh Bank deputy governor Shitangshu Kumar Sur Chowdhury said He said that it would not be possible to stop Hundi totally but BB is working to check the transactions through the illegal channel To ease the formal channel BB has reduced the security deposit requirement for the exchange houses abroad to make arrangements for remittances with local banks Shitangshu said The BB deputy governor hoped that Non-Resident Bangladeshis would come forward to know the importance of their money to be sent through banking channels BB former executive director Yasin Ali said that national economy was being hindered due to remittance inflow through illegal channels He suggested using mobile banking facilities for remittance inflow saying that the area of mobile banking expanded many fold in last five years Helal Ahmed Chowdhury former managing director of Pubali Bank suggested bankers to be courteous with bank customers Source httpwwwnewagebdnetarticle28041study-blames-mobile-hundi-for-falling-remittances-thru-banking-channel

POLICY SUPPORT MUST TO DIVERSIFY EXPORT BASKET Speakers on Thursday said that in order to diversify the countryrsquos export basket export-oriented businesses should be given the policy support that has proved highly successful in bringing vibrancy to the countryrsquos RMG sector They were speaking at a workshop styled ldquoExport Diversification Challenges and Prioritiesrdquo organised by Bangladesh Enterprise Institute (BEI) in the auditorium of International Finance Investment and Commerce Bank in Dhaka Dr Mohammad A Razzaque former head of International Trade Policy at Commonwealth Secretariat in London presented a keynote paper in the programme chaired by Salman F Rahman private sector development advisor to Awami League President and Prime Minister Sheikh Hasina Skill development measures may also play a vital part in this regard Salman said export diversification would be possible only when adequate and appropriate policy support is provided to all export-oriented industries Dr Razzaque in his keynote paper suggested revamping and deepening policy support such as providing cash assistance and bonded warehouse facilities to all such industries to improve their export competitiveness He also highlighted the need for further expanding Bangladeshrsquos export basket as its penetration into global export markets in the last decade was very insignificant Eminent economist Prof Wahiduddin Mahmud said ldquoIn addition to providing subsidies and cash incentives to thriving and promising sectors on a long-term basis the government should take measures to strengthen the countryrsquos manufacturing baserdquo

Daily News Flash 12th November 2017

22

Shafiul Islam Mohiuddin president of the Federation of Bangladesh Chambers of Commerce and Industry said the governmentrsquos support is a must to create a strong manufacturing base for export diversification ldquoSkill development measures may also play a vital part in this regardrdquo Addressing the event as the chief guest Commerce Minister Tofail Ahmed said export diversification depends on businessmenrsquos initiatives He however pledged all necessary support from the government for export diversification to meet the countryrsquos $60 billion export target by 2021 BEI President Farooq Sobhan emphasised engaging the private sector in relevant policy discourses to achieve the target ldquoA private sector-oriented policy mechanism is very important as rapid changes are taking place in the global trade landscape Understanding implications and generating timely policy responses to unfolding developments will be meaningful only when the private sector is able to benefit from themrdquo said Sobhan Among others Mustafizur Rahman a fellow at the Centre for Policy Dialogue Kazi M Aminul Islam executive chairman of Bangladesh Investment Development Authority Bijoy Bhattacharjee vice chairman of Bangladesh Export Promotion Bureau and Md Nojibur Rahman chairman of the National Board of Revenue also spoke Source httpwwwdhakatribunecombusinesseconomy20171109policy-support-must-diversify-export-basket

BANKS LACK REMEDIAL STRATEGY WHILE NPL RISES WORRYINGLY Some of Bangladeshs banks dont have in-depth look into the problem of spiraling non-performing loans (NPL) while many others try to frame remedial strategies perfunctorily Such observations came out from studies on banking as well as financial sector at large as the NPL surge worries many quarters One finding shows that around 11 per cent of the countrys banks did not have an in-depth look into the issue of NPLs in the past year despite a growing concern over the problem in the financial arena The recent industry-wide survey also revealed that around 30 per cent of the countrys banks had not assessed their past NPL-reduction strategies at all while 36 per cent did so only on an ad-hoc basis The findings came out from the survey of the Chief Risk Officers at the banks on issues concerning NPL strategy in their institutions Leading banking research and training institution Bangladesh Institute of Bank Management (BIBM) conducted the study The research findings come at a time when the ballooning NPLs is becoming a major issue with the countrys banking industry and also triggering concerns and criticisms As per the central bank data the volume of NPLs had increased by more than 21 per cent to Tk 62172 billion by the end of 2016 swelling from Tk 51371 billion a year before The findings are genuinely surprising as we are struggling to find a bank for which NPL is not an issue in some capacity said Sazib Azad Senior Advisor of BIBM who led the research initiative Furthermore if the bank itself is immune to the impact of NPL even then they need to consider whether they are immune from structural or market-level impacts as well he told the FE However relevant survey results show the potential lack of such considerations as only 10 per cent of bank CROs taking part in the survey said that their banks are addressing potential dependence on market assessment and strategy What is more surprising is that the NPL strategies of around 62 per cent of the banks are not signed off by the boards the survey found

Daily News Flash 12th November 2017

23

This is quite striking because given the severity of the non-performing-loan issue the NPL strategy should be signed off by the boards Mr Azad said adding Boards are not only accountable for the health of the banks but are also in position to release resources to get to grips with the issue In addition the survey result also revealed 31 per cent of the banks not communicating their NPL strategy across the bank NPL as an issue needs to be addressed from ground up But the results show that this is not happening at our banks said an expert who was involved with research Meanwhile 25 per cent of the CROs said they were not tracking the implementation and effectiveness of NPL strategy in their banks- something which according to experts is a cause of concern Given how critical an issue NPL exposure is we would expect every CRO to track how the NPL strategy is being implemented its effectiveness and how to improve matters to the Board Risk Committee and the Board the banking experts said Meanwhile the survey results also found that although 94 per cent of the banks had stress-tested their balance sheet in terms of NPL drag this figure drops to 56 per cent while considering the impact to and from the wider economy market and structural aspects It seems that 33 per cent of the banks do not formally consider this aspect with a further 11 per cent not looking at this dimension at all the researchers said Experts also noted that with Basel 3 farther putting capital under pressure sensible banks should dynamically model the impact of key risks to their capital However the survey results show 17 per cent of the banks are not doing so while 31 per cent doing it in a limited manner Asked whether their banks risk-appetite-statement metrics reflected their NPL strategy 36 per cent of the respondents said they do so in a limited capacity while a further 80 per cent are not doing that at all It was also found that 25 per cent of the C-Suites have specific NPL-strategy-related targets while 31 per cent of the CROs have the same Meanwhile when asked whether they consider their NPL strategy to be embedded just over half of them or 52 per cent of the survey participants said Yes This according to experts is clearly not fit for purpose given the severity of the NPL issue facing the banking sector The first step in looking into the NPL issue is to assess internal capabilities to effectively manage NPLs Next external conditions or operating environment needs to be considered Finally the capital implications of the NPL strategy need to be analyzed said Sajib Azad The findings of the survey will be shared with the stakeholders during the next CRO forum of BIBM expected to take place next month where the issue of Risk Culture will also figure high The biggest reason for the swelling of NPL in our banking sector is a lack of good governance To check the ballooning of NPL the internal governance of the banks has to be strengthened above all Director-General of BIBM Toufic Ahmad Choudhury said Meanwhile the survey also found banks tending to consider time-horizon portfolio segment and exposure-level-based targets to be broadly equally important to their NPL strategy In terms of options preferred for reducing NPL banks consider change of exposure type to be most effective (36 per cent) followed by active portfolio reductions (33 per cent) and hold forbearance (31 pe rcent) Source httptodaythefinancialexpresscombdfirst-pagebanks-lack-remedial-strategy-while-npl-rises-worryingly-1510417700

GOVT SEEKS US$183B UNDER 39TH JAPANESE ODA PACKAGE The government has sought around US$183 billion worth of assistance from Japan for bankrolling six development projects officials said Saturday

Daily News Flash 12th November 2017

24

Officials at the Ministry of Finance (MoF) said they have already discussed the issue with the Japan International Cooperation Agency (JICA) We are hopeful of receiving funds under its upcoming 39th Official Development Assistance (ODA) package to finance six development projects a senior MoF official told the FE He said a JICA mission in September-October last completed its visit to Bangladesh to explore the possibilities of financing the proposed projects We are hopeful of signing the 39th ODA package with JICA within a couple of months he said After signing the loan deal the largest bilateral donor will start disbursement of funds from the proposed $183 billion aid package for the six development projects the MoF official added The proposed six projects under the 39th ODA package are Matarbari port development Dhaka MRT line-6 construction (phase-III) Dhaka MRT line -5 feasibility study Matarbari ultra super critical coal-fired power plant (phase-IV) Jamuna Railway Bridge construction and Health service strengthening project A senior official of Economic Relations Division said the proposed 39th ODA package will be very useful for Bangladesh as it will be utilised to develop the Matarbari port ongoing Matarbari power plant project conduct feasibility study and detailed design of the MRT line-5 in Dhaka and to construct railway bridge over the River Jamuna All of these projects are very important for the country to ensure smooth transportation and uninterrupted power supply he added Japan is the largest bilateral development partner of Bangladesh Over last 5-6 years it has enhanced its aid with confirmation of more than US$10 billion worth of funds under each of the aid packages In the last 38th ODA package signed in June 2017 JICA provided Yen 178223 billion ($164 billion) for utilising in six development projects on transport infrastructure power and water sector improvement works In June 2016 Japan signed the 37th ODA deal worth $150 billion (17354 billion Japanese Yen) with Bangladesh and in December 2015 it inked the 36th ODA package confirming $12 billion concessional loan for six development projects Under the last 38th ODA package JICA offered $700 million (Yen 76825 billion) for Hazrat Shahjalal International Airport Expansion project $480 million (Yen 5273 billion) for 2nd Kanchpur Meghna and Gumti bridges construction $50 million (Yen 5593 billion) for Dhaka Mass Rapid Transit development project (Line 1) $100 million (Yen 10745 billion) for Matarbari ultra super critical coal-fired power plant $190 million (Yen 20477 billion) for Dhaka underground substation construction project and $110 million (Yen 11853 billion) loan for small scale water resources development project Japan has so far provided Bangladesh with nearly US$12 billion in assistance since the financial year (FY) 1971-72 Source httptodaythefinancialexpresscombdfirst-pagegovt-seeks-us183b-under-39th-japanese-oda-package-1510417739

SUMMIT GROUP ENTITIES TO ISSUE PREFERENCE SHARES WORTH $1250M A subscription closing ceremony to raise capital through issuance of preference shares worth BDT 1000 million (USD 1250 million) for Summit Barisal Power Limited amp Summit Narayanganj Power Unit II Limited was held recently at Pan Pacific Sonargaon Dhaka said a statement LankaBangla Finance Limited acted as the Mandated Arranger LankaBangla Investments Limited acted as the Issue Manager and The City Bank Limited acted as the Agent Account Bank amp Custodian Bank to raise the fund In the event Mr Lt Gen (Retd) Engr Abdul Wadud Managing Director of Summit Barisal Power Limited amp Summit Narayanganj Power Unit II Limited Mr Khwaja Shahriar Managing Director amp

Daily News Flash 12th November 2017

25

CEO of LankaBangla Finance Limited Mr Mohammed Nasir Uddin Chowdhury Managing Director of LankaBangla Capital Market Operations Mr Mominul Islam Managing Director amp CEO of IPDC Finance Limited Mr R Q M Forkan Managing Director amp CEO of Bangladesh Commerce Bank Limited Mr Faruq M Ahmed Additional Managing Director of Trust Bank Limited Mr Akthar Hamid Khan Deputy Managing Director of Pubali Bank Limited Mr Arif Hasan Khan Vice President of Modhumoti Bank Limited Mr Mohammad Ibrahim Khalil FCA Vice President amp CFO of Bank Asia Limited and Mr Mahbub Jamil Vice President and Head of Structured Finance of The City Bank Limited along with other senior officials from the companies were present Source httptodaythefinancialexpresscombdstock-corporatesummit-group-entities-to-issue-preference-shares-worth-1250m-1510411878

BMBA URGES MUHITH TO EXEMPT INVESTMENTS BY MF SPONSORS Bangladesh Merchant Bankers Association (BMBA) has urged the finance minister to exclude some components including sponsors investments in mutual funds (MFs) from the banks exposure to the capital market It made the request for ensuring an environment conducive to gradual development of the capital market according to a proposal submitted to Finance Minister AMA Muhith last week The BMBA said the long-term or strategic investments needed to be excluded while calculating the exposure as these investments were not intended for frequent trading Non-convertible preference shares and non-listed securities also need to be excluded from the capital market exposure as it will never influence the capital market volatility it said in a letter to the minister According to the letter the MFs are passive investments where investors themselves are not involved in investment decision making and such fund portfolios are mostly of long-term nature than frequent trading On the other hand the sponsors of the MFs need to hold 10 per cent of the investment until liquidation of the fund So considering the fact the sponsors portions in MFs need to be excluded from the banks capital exposure said the BMBA proposal As per the Banking Act 1991 it said reporting requirement is on solo basis but the central bank has introduced consolidated calculation which is of dual effectdouble counting in the market exposure This kind of restrictive measure creates panic situation in the market and may hinder the potentials and prospects of the capital market as a whole the BMBA said It also said that this kind of practice needed to be stopped as such requirements and reporting practice would further squeeze the market and that the investors would lose their interest The BMBA said some organisations have invested on strategic purpose and were holding positions in the board and their exposure increased with rising the market price of MF units On the other hand in compliance with the securities rules they are unable to sell shares to reduce exposure the BMBA said terming the situation complicated In its letter the BMBA said that the capital market exposure of some banks and financial institutions increased without fresh investments following the upward trend of the market price as the exposure is calculated on the basis of market price If the banks need to go for selling off their excess exposure this will create unnecessary selling pressure on the market said the BMBA The association requested the finance minister to consider their proposal to facilitate the growth of the capital market by its own strength and prospect Source httptodaythefinancialexpresscombdstock-corporatebmba-urges-muhith-to-exempt-investments-by-mf-sponsors-1510411950

Daily News Flash 12th November 2017

26

ATIUR STRESSES ROLE OF REGULATORS IN DIGITAL FINANCIAL INCLUSION Former Bangladesh Bank Governor Dr Atiur Rahman chairs a session at the 5th Biennial Competition Regulation and Development Conference at Jaipur in India on Thursday Success of digital financial inclusion depends on the prudent role of the regulating bodies to a great extent And the recent progress in Bangladesh in this regard is a good example for the rest of the world to follow said Dr Atiur Rahman former governor of Bangladesh Bank says a statement He was chairing a session at the 5th Biennial Competition Regulation and Development Conference at Jaipur India on Thursday The three-day conference is being hosted by CUTS International and OECD Speakers of the session included Ravinder S Aurora Senior Vice President of Mastercard David Ongolo Kenyan Competition Authority and Dr A K EnamulHaque Professor of East West University Dhaka Many developing countries survived and even thrived during the last global financial crisis because they chose to follow a broad-based financial inclusion strategy And digital solutions played a crucial role in this financial inclusion drive said Dr Rahman He added that service providers must focus on reaching out to the customers in the rural socio-economic conditions Dr Rahman said that experience from Bangladesh can answer many of the burning questions regarding digital financial inclusion The central bank of the country has facilitated bank-led digitisation drive Be it Mobile Financial Service or be it Agent Banking the Bangladesh Bank has encouraged traditional players (ie the commercial banks) to lead the way And it has been proven to be very successful He also said that the world is witnessing only the beginning of the digital finance revolution Hence we must learn from all these experiments share our experiences and know-hows Only then we can work towards shaping global standards and practices Dr Rahman finally asked all central banks to be more proactive and collaborative with other stakeholders including non-traditional financial service providers to facilitate orderly development of digital financial inclusion so that consumers interests are better protected The grievance redressal mechanism developed in Bangladesh Bank with infusion of state of the art technology to gain trust of the customers in financial inclusion was also discussed widely in the session The panelists highly appreciated Bangladeshs regulatory move with public interest in mind using latest technology for replicable digital financial inclusion Source httptodaythefinancialexpresscombdtrade-marketatiur-stresses-role-of-regulators-in-digital-financial-inclusion-1510416319

FAO FEARS NEGATIVE BD FOOD OUTPUT GROWTH ON FLOODING Recent flooding has dampened the outlook for Bangladesh a likely third successive season of little or negative food production growth mainly rice reports UNB quoting FAO Barring major setbacks production recoveries could instead permit Bangladesh and Sri Lanka to slightly lower their 2018 imports to 11 million and 450 000 tonnes respectively according to the latest Food Outlook published by the UN Food and Agriculture Organisation (FAO) Among other rice importers Bangladesh Iraq Nigeria and the Philippines are all similarly predicted to replenish their inventories according to the report a copy of which obtained by the news agency These gains are however likely to be offset by stock reductions in the Republic of Korea Madagascar Sri Lanka and the United Republic of Tanzania all linked to output shortfalls Although the use of rice as animal feed is being sustained by the release of supplies from government granaries in Japan the Republic of Korea and Thailand more affordable feedstuffs are expected to displace rice in most other countries especially in Bangladesh China (Mainland) and Vietnam

Daily News Flash 12th November 2017

27

Since the previous Food Outlook report a series of unfavourable climate-related events have affected main paddy crops in the Northern Hemisphere which have now reached the harvesting stage This has been the case in Asia where unlike 2016 the critical Northern Hemisphere summer months were characterised by mixed growing conditions that inhibited planting expansions As a result FAOs latest forecast of world rice production in 2017 points to a broadly stable output level of 5008 million tonnes Production in Asia is now forecast to fall 550 000 tonnes below the 2016 bumper harvest to 4525 million tonnes The UN agriculture agency has said the cost of importing food is rising in 2017 driven by increased international demand for most food stuffs as well as higher freight charges The cost of importing food is forecast to rise six per cent in 2017 to $1413 trillion making it the second highest bill on record while food commodity prices have been generally stable according to the latest Food Outlook that expressed concern about the economic and social impact of this trend on poor countries Although weather disruptions are set to stall production growth this season global rice supplies are still forecast to exceed utilisation enabling a small expansion of world rice inventories Global trade is expected to rise only modestly in 2018 after staging an 8 per cent recovery in 2017 The food import bills are set to increase by double-digit rates for least-developed countries (LDCs) and low-income food-deficit countries Aromatic rice varieties have risen eight times faster than the FAO All Rice Index which is up four per cent on the year However the higher import costs come at a time when inventories are robust harvest forecasts are strong and food commodity markets remain well supplied The export of tropical fruits is promising for poverty relief and rural development as almost all production takes place in developing countries The export volumes of mango pineapple avocado and papayas are on course to achieve a total combined value of $10 billion this year according to the Food Outlook Source httptodaythefinancialexpresscombdfirst-pagefao-fears-negative-bd-food-output-growth-on-flooding-1510336161date=11-11-2017

STOCKS NUDGE HIGHER AS BANK TELECOM ISSUES SURGE Stocks extended the winning streak for the two consecutive weeks that ended Thursday as enthusiastic investors continued their buying appetite on bank and telecommunication issues Market operators said the positive momentum in some large-cap issues especially from banking telecom pharmaceuticals and food amp allied sectors helped the bourse to stay upbeat The banking sector posted the highest return of 445 per cent as 27 out of 30 listed banks ticked higher Four banks gained more than 10 per cent each The telecom sector also surged 342 per cent as Grameenphone the countrys largest market-cap listed companys shares price jumped 40 per cent to close at Tk 45690 each The market extended the winning streak riding on heavyweight bank and telecom issues said an analyst at a leading brokerage firm The week featured five trading sessions as usual Of them first session saw marginal correction while last four closed higher Week-on-week DSEX the prime index of the Dhaka Stock Exchange (DSE) jacked up by 9454 points or 155 per cent to finish at 6193 The two other indices -- the DS30 index and the DSE Shariah Index (DSES) - also closed higher at 2244 and 1341 points

Daily News Flash 12th November 2017

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Both the indices added 4264 points and 1218 points respectively During the week banking pharmaceuticals and telecommunication sector stocks contributed more to keep the market up commented City Bank Capital Resources a merchant bank in its weekly analysis The port city bourse Chittagong Stock Exchange (CSE) also ended higher The CSCX advanced 180 points or 156 per cent to finish at 11618 International Leasing Securities a stockbroker noted that the market observed an upbeat vibe throughout the week riding on the news of soaring of net foreign investment in the capital market in the first 10 months of 2017 compared to the same period of last year Net position of foreign portfolio with the DSE stood at Tk 1623 billion in January-October compared to Tk 80 billion in the same period a year ago However some investors were reshuffling their portfolios after observing the year-end corporate declarations and first quarter earning disclosures the stockbroker added According to EBL Securities The market witnessed an upbeat tune throughout the week riding on regained confidence among the market participants The stockbroker noted that preferable year-end and quarter-end earnings declarations by several companies helped them to remain positive about market The total turnover for the week amounted to Tk 3591 billion on the DSE which was Tk 3027 billion in the week before The daily turnover averaged Tk 718 billion which was nearly 19 per cent higher than the previous weeks average of Tk 605 billion Block trade accounted for 16 per cent of the total weekly turnover where stocks like BATBC Beximco Pharma Shahjalal Islami Bank Square Pharma and Singer Bangladesh dominated the block trade board Banking sector kept its dominance over the turnover chart grabbing 35 per cent of the weeks total transaction followed by engineering with 18 per cent and pharmaceuticals 11 per cent Out of 336 issues traded 207 closed lower 116 ended higher and 13 issues remained unchanged on the DSE trading floor during the week The market capitalisation of the DSE rose 137 per cent as it was Tk 4123 billion on the opening day of the week and it stood at Tk 4179 billion on closing day of the week City Bank topped the weeks turnover chart with 5390 million shares worth Tk 184 billion changing hands followed by IFAD Autos with Tk 121 billion Brac Bank Tk 10 billion LankaBangla Finance Tk 994 million and Dhaka Bank Tk 926 million Reckitt Benckiser was the weeks best performer posting a gain of 1925 per cent while Stylecraft was the weeks worst loser slumping by 3322 per cent A new issue - Oimex Electrode-- made debut last week and soared 1042 per cent from its offer price of Tk 10 in the first trading day on Monday Source httptodaythefinancialexpresscombdstock-corporatestocks-nudge-higher-as-bank-telecom-issues-surge-1510332934date=11-11-2017

BANGLADESH GROWING AS DENIM HUB The growing global demand for fashionable denim wear encouraged both local and foreign entrepreneurs to make fresh investment in Bangladesh participants and organisers of Bangladesh Denim Expo have said Many of the 30 local denim mills are going for expansion while a couple more will come into operation with fresh investment within next two or three years they said Some foreign companies are opening offices or setting up factories in Bangladesh they added The seventh edition of the two-day Bangladesh Denim Expo was held in the city recently with the theme transparency to highlight the need for transparency in the entire denim supply chain

Daily News Flash 12th November 2017

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A total of 65 exhibitors from 12 countries participated in the show while more than 12 thousand visitors from across the world registered online to attend the two-day expo organisers said Talking to the FE on the sidelines of the expo Md Khalid Mosharof assistant general manager at Dekko Group said the group invested Tk 15 million in setting up a new factory of 44 lines at Ashulia that would go for denim item production in June next The main reason is to tap the growing global demand he said Echoing him Syeed Ahmed Chowdhury general manager operation at Square Denim said the company expanded its denim fabric production capacity to 30 million yards from the existing 15 million yards per month mainly to meet the demand He however opined that the expansion is taking place more in garment segments than in fabric production There is no alternative to expansion to sustain the existing business and achieve the $50 billion garment export earnings target by 2021 Sharif Zahir managing director of Ananta Group said stressing the need for positive branding of the sector Meanwhile Landes a German denim accessories maker started production in its new factory at Savar from this month It invested US $05 million We opened the factory in Bangladesh as we think this is the hub for denim business and there is a lot of business prospects here Manfred Slowik chief operating officer of Landes told the FE at his stall at the expo By the end of next year the total workforce in our new plant will be 120 people as we are recruiting new people from existing 30 Mr Slowik said Landes has a target to produce 500 million pieces of leather patches used in denim trousers as accessories in a year at its Savar plant from where such accessories will be supplied to the whole Asian region Many big brands like HampM VF and Walmart are their customers he said Nezahat Boni senior account manager of Orta a Turkish denim maker said her company supplies 30 million metres of denim fabrics in Bangladesh in a year against only 800 meters in 2011 We opened an office in Bangladesh in 2011 as we cannot ignore the importance of this country as a denim hub she said Prosperity Textile a Chinese company opened its office in Dhaka last year said Md Mujibul Hoque the companys Bangladesh Sales Director The company has targeted sale of 100 million yards a year across the globe while it also targets 30-40 per cent of their sales in Bangladesh Bangladesh is now the top denim products supplier to the European Union overtaking China and third largest to the US after China and Mexico industry people said Bangladesh supplies denim products to major global buyers and retailers including levis G-Star Raw HampM Tesco Wrangler Hugo Boss Walmart and Gap Source httptodaythefinancialexpresscombdtrade-marketbangladesh-growing-as-denim-hub-1510332061date=11-11-2017

EXPORTS UP 70PC IN JULY-OCTOBER Countrys export earnings grew by 703 per cent to US$1150 billion during first four months of the current fiscal year (FY 2017-18) according to official data released Thursday The earnings were $1079 billion in the same period (July-October) last FY In October 2017 the exports grew by 642 per cent to $284 billion the Export Promotion Bureau (EPB) data showed The overall exports in the first four months slightly (074 per cent) fell short of the periods target In October however the exports were 628 per cent higher than the months strategic target Readymade garment shipments fetched $943 billion marking 699 per cent growth during the period as compared to $882 billion in the same period of last FY

Daily News Flash 12th November 2017

30

The woven items registered 385 per cent growth in earnings to $445 billion than that of $428 billion in the same period of FY 2016-17 The earnings from knitwear export during the period grew by 995 per cent to $498 billion from $453 billion in the corresponding period of last FY Jute and jute goods exports rose by 1646 per cent to $34501 million from $29626 million in the same period of FY17 The earnings from agriculture products grew by 2022 per cent during the period while home textiles by 2037 per cent The earnings from leather and leather products however fell marginally by 002 per cent to $42844 million during the period than that of $42851 million in the same period last FY The export earnings from frozen food and live fish grew by 1541 per cent to $22691 million from $19661 million of the corresponding period of last fiscal Mahmud Hasan Khan vice president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) said the exports in the first four months of the current fiscal year fell short of the expected growth mainly because of failure in maintaining the lead time and short supply of gas and electricity Terming the knitwears growth satisfactory he said woven items manufacturers have been struggling to cope with the new challenge as buyers were reducing the volume of orders due to failure in meeting the lead time Without efficient port and strong backward linkage industry especially for the woven sub-sector it will be difficult for the sub-sector to bounce back he feared He pointed out that maximum of the woven fabric requirements were being met through imports But it was taking too much time to clear the imported fabrics and additional charges as a result at the Chittagong seaport that was facing unbearable congestion The government should provide necessary policy support to the exporters to establish strong backward linkage industry for the woven sub-sector he added Source httptodaythefinancialexpresscombdfirst-pageexports-up-70pc-in-july-october-1510248870date=10-11-2017

GAS CRISIS HURTING OUTPUT IN INDUSTRIAL BELT Factories in the countrys Tongi-Gazipur industrial belt have been facing acute gas crisis over the past few months following diversion of gas to upstream power plants The crisis has deteriorated further this week albeit some improvements for a few days last week said local industrialists and businessmen According to them if the ongoing gas crisis persists they may be forced to shut down their factories Officials of the Titas Gas Transmission and Distribution Company Limited (TGTDCL) however blamed the Petrobangla for the gas crunch Sources concerned say the industrial belt of Tongi-Gazipur is suffering badly for about four to five months from low pressure of gas coupled with poor electricity voltage -- often resulting in huge volume of industrial wastages and reduction of production efficiency According to the industry insiders a factory in the industrial belt requires 04 PSI (production per square inch) as optimum gas pressure but the pressure at times comes down to as low as 01 PSI these days -- especially during the daytime Gas pressure in the area becomes normal around 10pm11pm and stays for not more than 08 hours until 6am7am an entrepreneur of the industrial belt informed Asked an official of Titas said they are at present getting nearly 250 million cubic meters (MCM) less in recent weeks against their current demand of 1800 MCM gas in Titas franchise The downstream Titas franchise area covers greater Dhaka region which includes Gazipur alongside some other adjoining districts and greater Mymensingh he said

Daily News Flash 12th November 2017

31

A Petrobangla source however cited gas supply on priority basis to a number of upstream projects including power plants as reason behind supply shortage When asked Managing Director of Akij Group Sk Bashir Uddin termed the situation really worrisome According to him two of Akij Group companies situated in the area -- Akij Printing amp Packages Limited and Dhaka Tobacco Industries -- jointly contributed nearly Tk 35 billion (3500 crore) to the national exchequer in the 2016-17 fiscal year But were very much worried about our industrial output this year as production disruption following the twin crises involving gas supply and power supply Both will eventually disrupt our retail business in every phase he quipped This often results in a high rate of industrial wastage and reduction of production efficiency he added Bangladesh Auto Re-rolling Steel Mills amp Association Chairman Manwar Hossain who is also Anwar Group Managing Director echoed the same concern Factories in the industrial belt are now operating at one-third of their capacity which may lead to labour unrest and default of huge sum of bank loans he said Such disruption of production he cautions may even cause sudden shutdown of factories According to him none of the victims in that case will be the wilful defaulters -- they will be the victims of circumstances The businessman who has a steel factory called Anwar Ispat Limited in the industrial belt called for immediate introduction of ECM (electronically controlled meters) to check unabated gas engineering in the area which he deems to be yet another reason for gas supply crunch Titas officials according to him are encouraging co-generation scheme to help address the severe gas crisis But he said co-generation will require stable and smooth gas supply Government should ensure at least 10-15 years of smooth gas supply to encourage co-generation as what he said any industrial investment requires 20 years of payback period TGTDCL Deputy Managing Director Engineer Abdul Wahab Talukdar who is also the Project Director of Sripur-Joydevpur Transmission Pipeline Project said We cannot do anything to address the crisis if there is a lack of adequate gas supply Mentioning that all factories in the industrial belt are like my babies he unequivocally said Titas is not at fault He also admitted that priority-based power plants gas supply being the reason behind the current spell of gas crunch We have already started introducing electronic volumetric corrector (EVC) to stop illegal gas use in the area he said Factories he added should go for co-generation scheme for protecting their own interest Co-generation means utilising and absorbing heat generated from gas generators which Mr Wahab said will save energy A section of the businessmen however called for stopping fertiliser production and distributing the same among people at a subsidised price after importing it to facilitate smooth supply of gas to other industries Even if the government stops fertiliser production and opts for importing it for distribution at a subsidised rate there will only be an insignificant loss compared to the overall losses now being incurred said an industrialist who has more than one factory in the industrial belt Local sources said illegal and unapproved gas connections in various industries in and around the zone are also affecting gas supply badly among other reasons Source httptodaythefinancialexpresscombdfirst-pagegas-crisis-hurting-output-in-industrial-belt-1510249018date=10-11-2017

Daily News Flash 12th November 2017

32

SINGLE PERSON MAY FORM COMPANY A single person may form a commercial firm under a provision of the companies law being updated along with some other major business-stimulating measures Official sources said the government is considering incorporating some new provisions including one allowing individuals to form any company into the updated Companies Act The other provisions are formation of an appellate tribunal to resolve legal matters without wasting much time widespread automation of companies work and submission of annual company reports online Earlier the Ministry of Commerce (MoC) had received some recommendations from the stakeholders on how to update the law they added We got most of the recommendations from the stakeholders We hope we will be able to prepare the draft Companies Act within a month Md Obaidul Azam director trade organisations (DTO) told the FE He said the recommendations the ministry had received so far were being scrutinised before preparing a draft for updating the companies act Earlier different trade bodies had sent their respective recommendations to the MoC for incorporation into the law The MoC will hold a meeting with the countrys apex trade body after assessing the recommendations and suggestions the ministry official said Talking to the FE a leader of an influential trade body said they had sent some recommendationssuggestions to the MoC for the new Companies Act for betterment of the countrys trade and business According to Section 2 (1) (c) of the Companies Act 1994 Company means a company formed and registered under this Act or an existing company Thus a company is an association of persons formed under the Companies Act 1994 with a view to achieving some common objectives Though a company is regarded a legal person it possesses similar rights and owes similar obligations like a natural person Now any individual fulfilling the new criteria may be allowed to form a firm Source httptodaythefinancialexpresscombdfirst-pagesingle-person-may-form-company-1510249090date=10-11-2017

DSE TURNOVER CROSSES TK 80 BILLION MARK The daily turnover on Dhaka Stock Exchange (DSE) exceeded the Tk 80 billion mark on Thursday as investors took fresh exposure to the banking sector Turnover a crucial indicator of the market reached Tk 870 billion on the countrys premier bourse jumping 14 per cent from the previous days transaction of Tk 765 billion It was the biggest single-day transaction since October 11 when the turnover totalled a record Tk 1092 billion Along with rising turnover DSEX the prime index of the Dhaka bourse continued to keep its gaining momentum closing 3449 points higher at 6193 points DSEX which replaced the DGEN in nearly five years back added more than 121 points or 20 per cent in the past four consecutive sessions The two other indices -- the DS30 index and the DSE Shariah Index (DSES) -- also followed suit to end at 2244 and 1341 points after gaining 1422 points and 443 points respectively Brokers said the market maintained the bullish trend for the four straight sessions as the enthusiastic investors chased the banking sector stocks The market continued the bullish trend for the four consecutive sessions as the enthusiastic investors were active for the banking food and engineering sector stocks commented EBL Securities a stockbroker in its regular market analysis

Daily News Flash 12th November 2017

33

It noted that the core index remained positive throughout the session as optimistic investors kept buying sector-wise stocks while some rebalanced their portfolios Meanwhile share price of newly listed Oimex Electrode continued to decline for the three consecutive sessions after unusual hike during its debut trading on Monday The companys share price fell 763 per cent to close at Tk 9810 on Thursday after jumping more than tenfold during the debut trading which experts termed unusual Block trade contributed Tk 241 million to the days total turnover with stocks like BATBC Square Pharmaceuticals Singer Bangladesh and Beximco Pharma dominating the block trade board Among the major sectors pharmaceuticals posted the highest gain of 122 per cent followed by banking sector (083 per cent) food amp allied (067 per cent) engineering (033 per cent) financial institutions (003 per cent) and power (003 per cent) Only telecommunication sector faced a 045 per cent correction A total number of 0140 million trades were executed in the days trading session with trading volume totalling 23171 million securities The total market capitalisation of the DSE stood at Tk 4179 billion against Tk 4168 billion in the previous session Losers however took a modest lead over the gainers as out of 325 issues traded 140 closed lower 130 closed higher and 55 remained unchanged on the DSE trading floor City Bank dominated the turnover chart for the second day in a row with 1035 million shares changing hands closely followed by Dhaka Bank LankaBangla Finance Brac Bank and Keya Cosmetics Reckitt Benckiser was also the days best performer posting a gain of 624 per cent while Qasem Drycells was the days biggest loser shedding 1235 per cent The port city bourse Chittagong Stock Exchange (CSE) also ended higher with its Selective Categories Index -- CSCX --gaining more than 62 points to close at 11618 Losers beat gainers as 113 issues closed lower 97 closed higher and 37 remained unchanged on the CSE The port city bourse traded 1604 million shares and mutual fund units generating a turnover of Tk 483 million Source httptodaythefinancialexpresscombdstock-corporatedse-turnover-crosses-tk-80-billion-mark-1510245247date=10-11-2017

TEN COS GRAB 32PC TURNOVER ON DSE The banking sector continued to dominate the transaction chart of the Dhaka Stock Exchange (DSE) accounting for 39 per cent of the total turnover on Thursday Four banks made their way to the top 10 turnover chart with City Bank leading the chart for the second day in a row Brokers said the investors chased the banking sector issues as more than 63 per cent of listed banks showed positive earnings in the third quarter (July-September period) Meanwhile top 10 traded companies including four banks grabbed more than 32 per cent of turnover on the Dhaka bourse The total turnover on the premier bourse reached Tk 870 billion up 14 per cent from the previous days Tk 765 billion The most active shares in terms of value included City Bank Dhaka Bank LankaBangla Finance Brac Bank Keya Cosmetics Square Pharmaceuticals Beximco Pharmaceuticals IFAD Autos Exim Bank and IDLC Finance According to statistics available with the DSE about 1035 million shares of City Bank were traded generating a turnover of Tk 553 million or 635 per cent of the total transactions

Daily News Flash 12th November 2017

34

The companys share price hovered between Tk 5240 and Tk 5440 before closing at Tk 5390 advancing 228 per cent over the previous session Dhaka Bank came in next with shares of Tk 395 million changing hands contributing 454 per cent to the total turnover The banks share price closed 347 per cent higher at Tk 2380 LankaBangla notched the third spot with shares of Tk 266 million changing hands making up 305 per cent of the total turnover Its share price ended 063 per cent higher at Tk 6430 Brac Bank emerged the fourth with shares of Tk 257 million changing hands grabbing 295 per cent of the total turnover The banks share price settled 123 per cent higher at Tk 107 Keya Cosmetics featured a turnover of Tk 247 million or 284 per cent of the total turnover Its share price closed 201 per cent higher at Tk 1520 The turnover of Square Pharma was Tk 241 million or 276 per cent of the total transaction Its share price ended 612 per cent down at Tk 27890 Beximco Pharma featured a turnover of Tk 211 million or 242 per cent of the total turnover Its share price advanced 428 per cent to close at Tk 10960 The turnover of IFAD was Tk 208 million accounting for 238 per cent of the total turnover Its share price closed at Tk 14070 gaining 195 per cent Exim Bank featured a turnover of Tk 196 million or 225 per cent of the total transaction The banks share price inched up 055 per cent to close at Tk 1830 IDLC also made its way to the top ten turnover chart with shares of Tk 188 million changing hands Its share price closed 223 per cent higher at Tk 9150 Source httptodaythefinancialexpresscombdstock-corporateten-cos-grab-32pc-turnover-on-dse-1510245290date=10-11-2017

FOREIGN INVESTMENT HIKE INFO DRIVES MODERATE GAINS ON DSE The Dhaka bourse Thursday closed the session posting a moderate rise in the broad index and turnover amid mixed performance displayed by major sectors On the day most of the major sectors declined but the turnover crossed Tk 80 billion-mark after two sessions on Dhaka Stock Exchange (DSE) mainly because of investors increased participation in the banking sector According to a market review of International Leasing Securities positive momentum in some big-cap stocks especially from bank food and engineering sectors helped the bourse to close in green The market started the session with a positive note and the DSE broad index DSEX witnessed little ups and downs before closing higher According to AT Capital Partners the market remained sideways till the midsession The DSEX rose again in the second half of the session and closed at 61936 up by 345 points The shariah based index DSES and blue chip index DS30 also rose marginally The turnover stood at above Tk 870 billion which was 1370 per cent higher than the turnover of the previous session The confident drive was initiated by the investors buying spree riding on the news of doubling net foreign investment in stocks year-on-year in the first ten months of 2017 said the International Leasing SecuritiesAmong the gaining sectors bank advanced 08 per cent and engineering 03 per cent Of the losing sectors pharmaceuticals amp chemicals declined 11 per cent telecommunication 05 per cent and textiles 09 per cent The banking sector grabbed 384 per cent of the market turnover at the premier bourse DSECity Bank topped the turnover chart with a value of Tk 553 million followed by Dhaka Bank LankaBangla Finance BRAC Bank and Keya CosmeticsReckitt Benckiser (Bd) limited topped the gainers chart with a rise of 624 per cent to close at Tk 18456 while Quasem Drycells was the worst loser after declining 1235 per cent to close at Tk 8230 Source httptodaythefinancialexpresscombdstock-corporateforeign-investment-hike-info-drives-moderate-gains-on-dse-1510245365date=10-11-2017

Daily News Flash 12th November 2017

35

MORE JAPANESE COMPANIES SEEK TO INVEST IN BANGLADESH Japanese Ambassador to Bangladesh Hiroyasu Izumi has said the Japanese investors are keen to invest in Bangladesh considering the lucrative offer and ideal atmosphere for foreign investment reports BSS The Japanese investors expressed more interest to invest in Bangladesh at recently-held the third round of Public-Private Economic Dialogue between Bangladesh and Japan he said while visiting the Chittagong Export Processing Zone (CEPZ) on Thursday The envoy expressed the hopes that Japanese investment in the Export Processing Zones (EPZs) will increase after the successful dialogue said a press release More and more Japanese companies will come to invest in this country he added General Manager of CEPZ Khorshid Alam maed a PowerPoint presentation highlighting the overall scenario of EPZ as well as Bangladesh Export Processing Zone Authority (BEPZA) Mentioning Bangladesh EPZs as the Bonanza for Investors he said investors from 38 countries have set up industries in the EPZs and invested US $442 billion He informed the ambassador that BEPZA has ensured three layer security system including 24-hour CCTV surveillance in the key points of EPZ and factory premises for the safety of the investors Source httptodaythefinancialexpresscombdtrade-marketmore-japanese-companies-seek-to-invest-in-bangladesh-1510250285date=10-11-2017

Source httpwwwarthosuchakcomarchives388209

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Daily News Flash 12th November 2017

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Source httpwwwkalerkanthocomprint-editionindustry-business20171112564388

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ও ও

ও ৩০ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111811 - - - -

-

২৭ ১১

১০

( ) ২৮৪

৬ ২৮ ৭ ১৫১

৭৪

ও - ও

ও - ও

ও ৩

৭ ১ ২৩

৯৪৪ ৮৮২ ১০

ও ৪ ৭ ও

৪ ৩৮ ও ১৫ ৪১ ২২ ৭০

২০ ৩৬ ১৩ ও

৪৬ ২২ ২০ ও

১৭ ৩৭১ ও ও

১৭ ও ৪৩ ও

Daily News Flash 12th November 2017

43

৬ ২০ ও ১৬

৩৫ ২০ ২৭

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111810 - - - - -

ও ও

১৩০ ও ১৪০

৫৫ ও ৯৭ ১১৩

৩৭

৩৪

৬১৯৩ ৬২ ১১৬১৭

৩০ ১৯

ও ও

ও - ও

৪৮ ৩১

১২ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111808 - - - - -

৩৫ ও ১০

ও ( ) ও

১০

ও ও -

২ ৩০০

২০১৪ ও

ও ৭ ২০১৪ ও ২০১৫

৫ ৭ ও ১২ ৮ ২৩

২০১৩ ১ ৪২০ ২০১৪ ১০ ৫ ১ ৫৭০

১৩ ৪ ও ১ ৩৫৮ ১০

২০১৬ ও ৩ ৫ ১ ৩১০ ২০১৪

২০১৬ mdash ২ ১ ঋ

১০ ও ২০১৩

২৯ ৮০ ২০১৪ ৫ ৭ ৩১ ৫০ ২০১৫

১২ ৩৫ ৩০ ২০১৬ ৭ ৩৭ ৮০

Daily News Flash 12th November 2017

44

২০১৪ ২০১৬

৩২ ৩৫ ও ৫০ ১৯

৫৬

১৭ ৪৬ ২০১৪ ২০১৬

৭২ ১০০ ও ১১১

২০১৪ ২০১৬ ১৫ ৬৩

৯১ ১১৪ ও ১১৮ ৮ ২৩

৮০ ৯০ ও

ও -

ও -

ও ও ও

১০ ও

১০ ও ২২

৭১ ১২ ৪২

৩২ ২৬ ও

ও ও

( ) ও

ও ২০২১ ও ও

৫ ১ ১৬

ও ও

Source httpbonikbartanetbanglanews2017-11-12137992 - - -- -

৫০০ ৫০০ ও

ও ৩০ ২০১৭

৫০০ ও ঋ ২০১৮

৩০

১ ২০ ও ১৫০

১১

Daily News Flash 12th November 2017

45

৩০০ ৬০০

( ) ও

১ ২৫ ও ১০

১০ ও

ঋ ও

৩০ ২০১৭ ৩ ও ১২ ও

( ) ২ ১৪ ২ ১

ও ৩০ ১১

( ) ও ও

( - ) ৬৬ ৫৫ ৩০

( ) ৩৪ ৯০

ও ও ও

( ) ও

ও ও ২০১৫ ৩০ ১০ ২০১৬

১২

( ) ৪১ ২০ ও ২৩ ৬০

৫০ ও

২০১৪ ৩০০ ও ১৪৮ ৪৬ ৫০

১৯১ ৬২ ৩৭ ৩১

১২ ৪৫ ৫০ ২৪

ও ( ) ১৬ ৫৩

ও ১৫ ২২

Source httpbonikbartanetbanglanews2017-11-12137966৫০০- - - - -ও -

৬৩

- ও ও

৬২ ৯৪ ৫

৬২

৯০

২০১৪ - -

- ও

২০১৬-১৭ ৫ ৬২ ও ২০১৩-১৪

১২

( ) ৯০

-

ও - - ও -

Daily News Flash 12th November 2017

46

- ও

৬২ ৯৪

২০১৩-১৪ ৭০ ৭৮ ২০১৪-১৫ ৫৪ ২২

২০১৫-১৬ ৩৯ ৩৩ ও ২৬ ২৩

ও ২০১৩-১৪

১২ ৩৬ ২০১৪-১৫ ৫ ৯১ ও ২০১৫-

১৬ ১৭ ৩০ ৫ ৬২

৩০ ২০১৭ ১০

২ ৮৬ ও ৩

ও ২৪ ( )

২৭

১৯৬৪ ১২

৪ ও ও ১৯৭২

ও ( )

ও ৩৪ ৮ ও

৯০

৪৫ ও ৫

১৯৬৪ ১৯৭২ ১৯৮৯

১০০ ও ২৬ ১৬ ২০ ৫৪৩ ৭৭

৫ - ৫১ ১৫ ৬০ ও

৩২ ৯০

Source httpbonikbartanetbanglanews2017-11-11137853 - - - - - -৬৩---

( ) ও

১০

ও ও ও

-

ও ও

ও ঋ ও

ও ২০১৪ ও

ও ও

২০১৩

( ) ও

Daily News Flash 12th November 2017

47

২০১৪

২০১৪-১৬ ও

২০১৪

ও ২০১৪

২০১৫ ২৭ lsquo ও rsquo

ও ও

২০১৬ ২৪

( )

ও ও

- ও

ও ও ১৯৮৩ ২০১৬

ঋ ( ) ৫৬০

৮৬৪

২০১৬ ২০১৯ ও

ও ১৫ ২৫ ৩০ ও ৩০

ও ঋ ও

২০১৬ ঋ ১

৩৪২ ঋ ৬ ৫২ ১২৩

ঋ ২ ৪৪৩ ঋ ১০

৮৪ ঋ ৪০

৭২৬

ও ২০১৬ ৭৪১

৪৫৭

২০৭ ২৪৪

১০ ও

ও ও ও ও ও

Daily News Flash 12th November 2017

48

Source httpbonikbartanetbanglanews2017-11-12137998 - - - - - ও- -

( )

৩০ ২০১৭ ২০

( ) ২ ১ ১ ৫৯ (

) ৩০ ( ) ১৫ ৩৭

ও ২৮ ১১

( ) ২৮

২০১৬ ৩০ ১৮ ২০

২০১৪ ও ২০

১৫ ৩০

১৮ ৮০ ও ৯ ৬০

Source httpbonikbartanetbanglanews2017-11-11137850 - - - -

ফ ৭ ২০১৭-১৮ ৭ ৩ ৭৪

( ) ও

( - ) ১ ১৫০ ৫৮

(২০১৬-১৭) ১ ৭৫ ৩ ৬০ ৭

৩ ১ ১৫৯ ২০ ৭৪

ও mdash

৬ ৬৫ ১৭ ৬৩

mdash ও ও

১৫ ৪১ ২২ ৬৯ ১০

১৯ ৬৬ ১০ ২০ ২২

mdash ও ও ও

৩৯ ৫১ ও ২ ও

১৬ ৪৬ ও ও ৬ ৯৯ ও

৩ ৮৫ ৯ ৯৫

১৯ ৮২

৮০

ও ( )

mdash

Daily News Flash 12th November 2017

49

ও ও

Source httpbonikbartanetbanglanews2017-11-10137755 - - - -৭- - --

ফ - ফ ও -ও

-ও

-ও

২৯-১০-২০১১ ৩ ( ) ২৮-১০-২০১৪

৩ ( ) ২৮-১১-২০১৬

২৮-১০-২০১৭ ৩ ( )

২০১৬-১৫৮১৩৪ ৪৪ ০৭-০৮-

২০১২ ১২(৬) ২ ( ) ৬ ( )

-ও - ও ২ ( )

৬ ( ) ও ও

-ও ৩ ( )

-

ও ও

১৯৯৪

২ ২২-০৫-২০১২ -ও ৩

- -

১৯৯৪

-ও

- ও

( )

১৯৯৪

১৯৯৪ -ও

Source httpwwwsharenews24comindexphppage=detailsampnc=1ampnews_id=6587

Daily News Flash 12th November 2017

50

ফ ফ

১৫ ও

-( ) ও

৪৯

১৬ ৮৫

৫১ ৪৯

৪ ৩৬

১৯১৩

১০০ ও ১৯০১ ১৯৬০

Source httpswwwdailystockbangladeshcom - - - -

- ( -১)

( ) ৮

৩০০ ও

( ) ১৬

- ২২৮ ৪৯ ১৮৩ ২০১৮

( ) ও

১৫০

( ) ও ৪০ ৩০

ও ও

ও ও

Source httpswwwdailystockbangladeshcom - - -

Page 3: Daily News Flash, 12th November, 2017 -  · PDF filebanglalink's revenue falls 4.57pc in q3 ... banks lack remedial strategy while npl rises worryingly

Daily News Flash 12th November 2017

3

GOVT MOVES TO BOOST REMITTANCE INFLOW An inter-ministerial committee has come up with 18 proposals to boost the remittance inflow through the formal channel and ward off the rising menace of digital hundi The development comes after the government formed a committee to investigate the shrinking inflow of remittance a major source of foreign currency for Bangladesh since fiscal 2015-16 Remittance inflow in fiscal 2016-17 was the lowest in six years which plunged the countrys current account balance in the deficit zone for the first time in five years according to data from the Bangladesh Bank The committee headed by Md Fazlul Haque additional secretary of the finance ministrys bank and financial institutions division has submitted its report on September 10 The proposals include taking legal action against the vested quarters involved in digital hundi an illegal transfer of funds from abroad Under the system the remitter deposits the amount to a vendor in hisher host country who then instructs his network in Bangladesh to deposit the sum to the mobile financial service accounts of the remitters relative The government should also take cooperation from the concerned law enforcement agencies of the host countries to prevent digital hundi Action should also be taken against the expatriate Bangladeshis with illegal assets abroad with the view to wiping out the local hundi cartel The other proposals include opening booths and help desks at airports such that remitters can deposit their hard-earned money securely just after arriving in Bangladesh The large network of post office and non-governmental organisations should be used to disburse remittance to the beneficiaries the committee suggested Another proposal is the introduction of a remittance card that would carry privileges such as priority services from high commissions and embassies hospitals and schools The number of amenities would increase progressively with the amount of remittance sent home The government should also hold talks with the host countries such that the migrant workers can send any income earned outside of their employment contracts through the banking channel The finance ministry has forwarded the report to the BB and the ministry of expatriates welfare and overseas employment on October 4 asking them to take the required measures The BB issued letters to all banks on October 4 instructing them to implement the recommendations Migrant workers sent home $116 billion last month up 1485 percent from a year earlier and 3583 percent from the previous month Remittance inflow in fiscal 2016-17 was $1277 billion down 1447 percent year-on-year Source httpwwwthedailystarnetbusinessgovt-moves-boost-remittance-inflow-1489990

SWITZERLAND FOR IMPROVING INVESTMENT CLIMATE IN BANGLADESH Switzerland Ambassador to Bangladesh Rene Holenstein has emphasised improving investment climate in Bangladesh as he sees economic opportunities in the country He is in Bangladesh with three priorities Holenstein said in an interview with news agency UNB He said his first priority is to strengthen bilateral political and diplomatic relations with Bangladesh His second priority is to develop cooperation with the Bangladesh government and people to achieve the sustainable development goals (SDGs) with their development support Holenstein will also work to strengthen bilateral economic relations between the two countries and help the Bangladesh economy grow Switzerland has been a committed and longstanding partner of Bangladesh introducing innovative ideas and solutions over the years

Daily News Flash 12th November 2017

4

ldquoOur journey started 45 years ago with humanitarian assistancerdquo The ambassador said the two countries established deep political cultural and economic relations slowly and steadily Holenstein an author of a number of books said the economic relations between the two countries in general has developed positively over the last few years ldquoOur trade has more than doubled since 2010 Major Swiss companies are currently present in Bangladesh This is very encouraging Its also encouraging to see more and more SMEs are coming to Bangladeshrdquo Asked about Swiss investment in Bangladesh he said they saw a 17-percent rise in investment last year The trade volume stood at $600 million last year with a year-on-year 16 percent growth he said ldquoIm fully aware that our trade relations are not yet at optimum level We can contribute much morerdquo He said Switzerland can promote innovative technologies particularly green technologies and this will be a contribution to Bangladeshs development Responding to a question on investment climate he said ldquoYes Ive heard some concerns However Im impressed while talking to businesspeople especially representatives of Swiss companies about their positive experiences Many people are optimistic about economic opportunities in Bangladeshrdquo ldquoOf course therere some issues that require further improvementrdquo Holenstein said mentioning infrastructure and administrative procedures The ambassador however expressed satisfaction over the security measures taken for the foreigners and foreign investors in the country Holenstein emphasised skills development improving local governance and ensuring a safe migration system in Bangladesh with assurance of providing Swiss support in these areas About the next national election in Bangladesh Holenstein said ldquoAs a friend of Bangladesh I hope the election will be fair transparent and inclusiverdquo He said a favourable and safe condition is needed to be in place so that everybody takes part in the election ldquoThe election commission has been doing a lot of consultations with political parties civil society and private sectors We welcome this inclusive approachrdquo About the Rohingya crisis he said ldquoWere very much concerned about the humanitarian situationrdquo Holenstein who has visited the Rohingya camps twice since his arrival in Dhaka praised Bangladesh government for its generosity and accepting so many people ldquoPeoples solidarity is also something extraordinaryrdquo The Swiss ambassador said the main goal is to make sure that these people can return safely and with dignity and voluntarily ldquoWe havent yet achieved that goal Well continue our efforts Were absolutely beside Bangladeshrdquo Given the extent of this humanitarian crisis Switzerland has decided to increase its financial contribution to 8 million Swiss Franc Almost 18 million foreign nationals live in Switzerland which is 243 percent of the total population The ambassador said Switzerland has always been an immigration-friendly country and many international organisations are there where foreigners are working With more than 613000 Rohingyas now in Bangladesh international agencies and partners are working on several fronts to support and protect them to avoid second wave of disaster ndash the outbreak of various diseases Holenstein who speaks German French Spanish English and Russian said he is a great fan of rock music

Daily News Flash 12th November 2017

5

ldquoI love music particularly rock music I love Bangladeshi music toordquo he said appreciating the performance of Bangladeshi band Chirkut ldquoI loved that kind of music I used to play drums I can singrdquo He said he is impressed by the eagerness of Bangladeshi people to learn innovate and try new things Source httpwwwthedailystarnetbusinessswitzerland-improving-investment-climate-bangladesh-1489993

TAKING BANGLADESHS SUCCESS STORY TO THE WORLD Before moving to Bangladesh in May among the known business challenges I was well aware of the opportunities and the positive energy for which Grameenphone is legendary in the Telenor Group I was not sure of what we would find in Bangladesh as a country but it has been an incredible experience so far Sure there are issues to be addressed problems to be solved but that is the truth for any market In my view the glass is far more than half full the opportunities far outweigh the challenges The country is experiencing stable macroeconomic indicators over the last 7 or 8 years with a growing middle-class a strong impetus to create economic zones new infrastructure and a couple of very large bridges to change the flow of traffic in the country Bangladesh is a fantastic opportunity for investors And there needs to be a concerted effort from the business community to recapture the narrative about what it means to operate here As a major player in the economy and a company listed on the Dhaka Stock Market Grameenphone too has a role to play in promoting and investing in South Asia -- and Bangladesh in particular More pertinently Grameenphone is a great example of a Bangladeshi business success story In the last 20 years mobile communications have greatly accelerated change in our culture Everybody who gets a phone here gets access to information communication security and education among other things Unarguably mobile is a big equaliser It brings education where education did not exist before it brings trade where trade is difficult it brings access to information and the democratisation of information where it was not available before It even brings avenues of entertainment into peoples lives As the largest operator in Bangladesh Grameenphone has a profound responsibility to be sustainable and profitable and to invest in the society that it serves with a view to bringing about progress and respectful socioeconomic change I strongly feel that one of Grameenphones key objectives is to make the Bangladesh economy more digital and more competitive The importance of 4G for the dream of a digital Bangladesh cannot be understated But in order to realise the true experience much more spectrum should be made available at affordable prices Grameenphones number one chosen role is to allow Bangladesh to continue to be an international competitor and to grow as well as diversify its exports There is incredible entrepreneurial and business talent in this market Their desire to build a better Bangladesh is matched to our desire to facilitate the same by providing services and infrastructure that make a difference Grameenphone is challenging the existing business models in order to provide customers the best tools allowing them to act on their environment interact with each other and transact in the marketplace Enabling these moments where customers act interact and transact is at the very core of the growth opportunity for mobile operators globally and Bangladesh is no different This does not mean we do everything It means that we enable economic growth and digitalisation We create opportunities for others to use networks to build a digital economy that creates value for our customers and grows our own business

Daily News Flash 12th November 2017

6

In addition to providing telecom services the way we do things makes a difference The way we apply our sense of ethics the way we apply our governance the way we apply our code of conduct or our way of work are humble examples of how business can be done We believe these are important contributors to the society that we serve As a corporate citizen of Bangladesh it is on us to contribute to the fabric of the nation We think there is an opportunity for Grameenphone as part of the greater business community to recapture the narrative and play a more active role in promoting the country for foreign investment to stop worrying about things that are going wrong and think about things that are going right With all due respect to our politicians who are expected to extol the virtues of investing in this market when business leaders and foreign investors carry the message that this is a great place to invest it builds greater credibility Grameenphone understands this and we carry and will continue to carry that message everywhere we go I think that as we head into 2018 and beyond there is huge potential still to grow the market and the business Bangladesh is investment-ready and investment-worthy Source httpwwwthedailystarnetbusinesstaking-bangladeshs-success-story-the-world-1489999

NBR PLANS TO LOWER FLAT REGISTRATION COST The tax administrator plans to reduce the flat registration cost and ease the complexities related to value added tax to give a boost to the real estate sector The National Board of Revenue is also finding ways to lessen the pressure on the realtors at the time of enforcing the new VAT law in July 2019 said Md Nojibur Rahman chairman of NBR Rahman spoke in a meeting with the leaders of the Real Estate and Housing Association of Bangladesh (REHAB) at Hotel Purbani in Dhaka yesterday At the meeting the realtors proposed NBR reduce the flat registration cost to 65 percent from the existing 155 percent The government should introduce a secondary market to change the ownership of flats like the market for used cards said Alamgir Shamsul Alamin president of REHAB There should be no registration fee for secondhand or used flats he said The ownership of such flats should be changed hands with only 3 percent tax like the used cars Alamin said He said the registration cost is the highest in Bangladesh among the Saarc countries The NBR is now giving emphasis on the housing sector to remove the barriers the realtors have long been facing at the time of selling flats he said Currently buyers have to spend 155 percent of a flats cost for registration which includes 4 percent gain tax 3 percent stamp fee 2 percent registration fee 2 percent local government fee and 45 percent VAT Flat sales have decreased by 60 percent in recent times due to high registration costs while the rate of launching new projects has declined by 75 percent Alamin said The association also proposed a cut in the existing 35 percent corporate tax for developer companies to help them raise their paid-up capital he said The REHAB has recently increased the paid-up capital ceiling to Tk 1 crore from Tk 10 lakh for a developer to get a membership of the association Alamin said The higher paid-up capital will increase investment in the sector he said The finance minister has asked the revenue authority to work on how to reduce the flat registration cost said Jahangir Hossain a member of the NBR A panel has also been formed to work on it he said Currently REHAB members are building around 15000 to 17000 flats every year according to the organisation

Daily News Flash 12th November 2017

7

Source httpwwwthedailystarnetbusinessnbr-plans-lower-flat-registration-cost-1489987

SOCIAL BUSINESS IS OUR FUTURE Les Canaux a historic building in Paris has officially begun its journey as Social Business House in order to promote social business and the social economy in the French capital Mayor Ann Hidalgo and Nobel Laureate Prof Muhammad Yunus together launched the social business house on Thursday Yunus Centre in Dhaka said in a statement yesterday Last year the mayor announced that the historic building will be dedicated to become the home of social business and the social economy for Paris Built in 1882 the building served as the administrative office of the Canals of Paris It is located on the 19th district of Paris which is a very vibrant neighbourhood attractive to young people Nicolas Hulot deputy prime minister of France and environment minister attended the launching ceremony as the chief guest A group of dignitaries was given a guided tour of the facilities of the social business house The house has been refurbished where all its decor carpets furniture and fittings are made from recycled materials notably ocean plastic waste paper and waste wood Yunus Centre Paris also located in the same building was also opened Yunus Centre Paris is now a registered legal entity in the city Speaking on the occasion Mayor Hidalgo said she is committed to social business and she wants to make Paris as the social business capital of the world and turn Paris as the social business city The mayor emphasised that social business is the future of the world ldquoIt is the future of humanity and it is the future of the planetrdquo She said that the present system is not sustainable Hulot highlighted that social business and the work that Les Canaux has set for itself is the most powerful way to move forward Prof Yunus said social business is like a bug a friendly bug that infects everyone who comes into contact with it because selflessness exists in every individual Source httpwwwthedailystarnetbusinesssocial-business-our-future-1489984

BANGLALINKS REVENUE FALLS 457PC IN Q3 Banglalinks revenue in the third quarter of the year declined 457 percent to Tk 1170 crore -- the lowest in nine quarters -- due to stiff competition and the growing tendency among subscribers to use multiple connections But it was not disclosed if the operator made any profit during the quarter in the financial report released by its parent company Veon on Thursday Banglalinks data revenue rose 28 percent to Tk 170 crore in the third quarter of the year on the back of acceleration of active data customer growth of 171 percent year-on-year Customer per data usage more than doubled to 523 megabytes a month Fuelled by aggressive customer acquisition campaigns Bangla-links subscriber base widened 84 percent year-on-year in the quarter taking the total tally to 314 crore and reversing the negative trend of the previous quarter Banglalinks gross income decreased and customer base shrank meaning its average revenue per user declined 86 percent year-on-year to Tk 121 The operator lost 38 lakh connections during last years SIM re-verification process As a result its earnings dropped said a senior official of the operator The report also said Banglalink is exploring alternatives to improve its capital structure ahead of 4G spectrum auction likely to take place in the first half next year as the operator would have to spend heavily to buy spectrum and roll out 4G service

Daily News Flash 12th November 2017

8

Veon a multinational telecom company headquartered in Amsterdam said it is evaluating all options to improve Banglalinks capital structures ldquoThe proceeds from any such activity may be used for refinancing of existing debt and general corporate purposes (including capital expenditures)rdquo said the financial statement without giving any specifics Jean-Yves Charlier chief executive officer of Veon had told reporters in Dhaka in July that Banglalink is ready to sell all of its 9000 towers to third parties in order to pool resources to invest to improve network quality The intention was made clear after Bangladesh Telecommunication Regulatory Commission decided to award three licences to manage mobile towers and separate telecom business from operators network infrastructure Banglalink is keen to invest $1 billion over the next three years to improve its service quality as well as support the governments Digital Bangladesh vision Since inception the countrys third largest mobile operator by subscriber base has invested over $251 billion in Bangladesh and contributed $24 billion to the national exchequer The operators 3G coverage reached 70 percent population Source httpwwwthedailystarnetbusinessbanglalinks-revenue-falls-457pc-q3-1489996

FORTY LOCAL COMPANIES TO ATTEND TEXWORLD PARIS Forty Bangladeshi textile and garment companies will participate at Texworld Paris on February 11-14 next year Noman Group has been chosen as an elite exhibitor and given space in the premium area of the show said a statement from Messe Frankfurt the organising company Companies from other countries such as India Pakistan China Myanmar Nepal and Cambodia will also take part ldquoWith such a wide range of countries the show is the most important event for sourcing apparel items Buyers come to the show expecting a wide variety of prices and qualityrdquo the statement said Texworld Paris hosts more than 1000 exhibitors and offers a rich variety of products to professional buyers from all over the world It is particularly the best place to meet buyers from all over Europe including the UK the Netherlands Germany and Turkey The Export Promotion Bureau (EPB) of Bangladesh will take part in the show with a limited number of booths The EPB is providing discounts with a garment booth costing Tk 300000 and a fabric booth Tk 475000 French designer Eymeric Francois along with Texworld consultants Louis Gerin and Gregory Lamaud will organise a Bangladesh Fashion Show in Paris during the event Gerin and Lamaud have been working with Texworld for over 10 years and have been awarded the prestigious Golden Needle Award from ESMOD International Paris Apparel Sourcing Paris the number one European trade fair for worldwide apparel sourcing will also take place at the same time and location Source httpwwwthedailystarnetbusinessforty-local-companies-attend-texworld-paris-1489975

STANCHART TOP OFFICIAL IN TOWN Anna Marrs regional chief executive officer of Standard Chartered Bank for Asean and South Asia has arrived in Dhaka for an official visit During the visit she will meet with some of the banks key stakeholders regulators and clients the bank said in a statement

Daily News Flash 12th November 2017

9

Her visit comes following recent changes in the banks senior management with Naser Ezaz Bijoy being appointed as the CEO of Standard Chartered Bangladesh Bijoy replaced Abrar A Anwar who took charge of the banks operations in Malaysia ldquoAnnas visit reiterates the Groups strong commitment to drive commerce and prosperity in Bangladesh and aid the development of the nations financial sectorrdquo said Bijoy in the statement ldquoAs the oldest financial institution in the country with a heritage of over 112 years and deep local knowledge we remain firmly committed to being a partner in progress to our nationrdquo Marrs is also the CEO of Standard Chartereds commercial and private banking business globally She joined Standard Chartered as group head of strategy and corporate development in January 2012 In her role as the head of strategy Marrs led reviews of the banks businesses globally with notable projects focusing on Nigeria China and India Prior to joining Standard Chartered Marrs was a partner in McKinsey amp Companys banking practice She started her career at DE Shaw a New York-based investment firm Marrs holds an MBA from London Business School and an undergraduate degree from Northwestern University in Chicago Source httpwwwthedailystarnetbusinessstanchart-top-official-town-1489969

EXPORTS SPRING BACK

Exports bounced back in the month of October fetching $284 billion on the back of higher shipments of apparel products ldquoYes garment export is rebounding after a slowdown over the last few monthsrdquo said Siddiqur Rahman president of the Bangladesh Garment Manufacturers and Exporters Association Garment shipments which typically fetch 82 percent of the export earnings brought home $229 billion last month up 4136 percent from the previous month and 602 percent from a year earlier ldquoI hope garment shipments will only increase from here onwards as the peak season is coming uprdquo he added Octobers receipts are higher than the previous months by 399 percent and the previous years by 637 percent according to data from the Export Promotion Bureau The amount which beat the target of $268 billion set by the commerce ministry for the month takes the tally so far in the fiscal year to $1151 billion In the first four months of fiscal 2017-18 leather and leather goods shipment the second largest export earning sector after garment declined slightly It raked in $42844 million down 002 percent from a year earlier But jute and jute goods the next big export earner saw its receipts soar 1646 percent to $34501 million during the period The sectors prospects on the global stage brightened after the long-delayed diversification of the product range and the higher demand for Bangladeshi made jute yarn for carpets and rug manufacturing in Turkey and some Middle-eastern destinations according to industry people Moreover jute exports to Japan and Russia are increasing due to higher demand of natural fibre-

Daily News Flash 12th November 2017

10

made products there exporters said Home textile exports increased 2037 percent year-on-year to $26079 million while the shipment of agricultural products like vegetable fruits spices cut flowers grew 2022 percent to $20321 million Frozen fish live fish and shrimp export increased 1541 percent to $22691 million which is 3721 percent higher than the target for the period Shrimp exporters said they have been receiving better prices from buyers as the demand for the black tiger variety of shrimp increased in the western world Last year shrimp exporters received $550 to $650 for a pound of shrimp but this year they are receiving between $750 and $8 according to exporters Pharmaceuticals exports grew 1731 percent year-on-year to $3219 million and furniture exports 1881 percent to $1415 million Source httpwwwthedailystarnetbusinessexports-spring-back-1489108

EXPORTERS SEEK LONG-TERM TAX ENERGY POLICIES Exporters yesterday demanded long-term and stable tax and energy polices such that they can make their future investment plans accordingly ldquoWe need a long-term roadmap from the government on taxes and energy prices and supplyrdquo said Fazlul Hoque former president of Bangladesh Knitwear Manufacturers and Exporters Association Every year before the budget the National Board of Revenue increases the source tax on export receipts only to bring it down later following requests from businessmen or under political pressure he said For instance the government has been importing liquefied petroleum gas for supplying to the industrial units But it is not clear yet how and when the gas would be supplied to the industrial units he said ldquoHowever it is very simple to fix the rate for the long term so that the businessmen can predict their expenditure and plan for futurerdquo Hoque said at a roundtable on the export potential of Bangladesh Bangla daily the Prothom Alo and banking giant HSBC jointly organised the discussion at the newspapers office in Dhaka where a minister exporters bankers manufacturers and entrepreneurs spoke Siddiqur Rahman president of Bangladesh Garment Manufacturers and Exporters Association echoed Hoques views He also complained about the poor state of the premier Chittagong port and airport in Dhaka Not only the sea port and airport the poor state of the Dhaka-Ashulia highway is also responsible for the bad transportation system The truckers demand higher fares because of the rundown roads between Dhaka and Ashulia-Savar he said Subsequently he called for the highways to be expanded into six lanes as hundreds of garment factories are located on both sides of the road David Hasanat chairman and chief executive officer of Viyellatex Group a leading garment exporter said the garment sectors success stories should be spoken of more ldquoWe should also continue with the PR initiative to carve out a positive picture of the countrys successful garment sectorrdquo he added The exporters of Bangladesh are responsible for not only driving economic growth but also for establishing the Bangladesh brand across the world said Francois De Maricourt chief executive officer of HSBC Bangladesh Muhammad Shohiduzzaman country head of global trade and receivables finance of HSBC Bangladesh said the popularity of export through open accounts system has increased worldwide due to simplicity of the process Bangladesh can also adopt it instead of the time-consuming and traditional letters of credit system he said

Daily News Flash 12th November 2017

11

Saiful Islam president of Leathergoods and Footwear Manufacturers and Exporters Association of Bangladesh (LFMEAB) said the condition of the customs department at the Chittagong port has worsened Customs officials take a lot of time to scrutinise the imported goods meant for manufacturing in the factories Islam said adding that the Chittagong port should have a contingency plan to avoid any kind of sudden deterioration in the system Abu Taher former chairman of the LFMEAB said the global market size of leather goods is $240 billion and in a few years time China will be importing another $100 billion worth of leather and leather goods and footwear ldquoSo we have a lot of opportunity to export leather goods worldwide We need export diversificationrdquo Taher said The demand for diversified jute goods like yarn has been increasing worldwide so the scope for jute and jute goods exports is also rising worldwide said Mahmudul Haque managing director of Sadat Jute Industries Limited ldquoWe need the governments support to make the best of this global opportunityrdquo he added MA Mannan state minister for finance and planning said sometimes the governments activities are stopped through filing writ petitions in the court ldquoThis is one of the major reasons for the slow progress of the governments development projectsrdquo he added Abdul Qayyum associate editor of the Prothom Alo moderated the roundtable Source httpwwwthedailystarnetbusinessexporters-seek-long-term-tax-energy-policies-1489123

DOLLAR SUDDENLY BECOMES DEARER

A frequent traveller who often buys foreign currency from an international bank in Dhaka was charged about Tk 86 for a US dollar on Wednesday Just a month ago he bought a dollar for Tk 83 This sudden rise in dollar price might not make much of a difference to individuals who purchase foreign currency in small amounts and infrequently but for importers who have to settle huge bills it is a major blow For instance if the price of a dollar goes up by even Tk 1 the importer has to bear an additional cost of Tk 10 lakh for $1 million Presently the bills for collection sell rate (at which import payments are made) of a dollar hovers around the Tk 83-mark and the rate goes up further for foreign banks that dominate the currency market The situation has forced the Bangladesh Bank to intervene sitting down with the banks and treasury officials twice in the last two weeks other than selling greenbacks Bankers blamed the depreciation of the local currency on the mismatch between demand and supply of the dollar

Daily News Flash 12th November 2017

12

Remittance and exports the two major sources of foreign currency for Bangladesh are in the slow lane while imports have ballooned Yesterday the inter-bank exchange rate of the US dollar stood at Tk 8095 up from Tk 7849 a year earlier The central bank has already sold $126 million to banks this month to halt the depreciating trend of the taka according to a Bangladesh Bank official ldquoBut it is not yielding the desired result as the demand for the US dollar continues to riserdquo From July 1 to November 9 the central bank has sold $440 million to banks In contrast it sold $175 million and purchased $193 billion during the course of fiscal 2016-17 Some banks are now trading the US dollar with each other bypassing the inter-bank exchange rate set by the central bank meaning that they completed the transaction beyond the rate the BB official said The central bank has put a cap on the US dollar at inter-bank exchange rate plus Tk 2 on April 27 in a meeting with the Association of Bankers Bangladesh with a view to keeping the market stable Besides on Monday it warned a number of banks for such unethical practice and asked them to strictly follow the inter-bank rate to settle foreign exchange transactions among them ldquoSome banks had secretly struck up deals between themselvesrdquo said Md Arfan Ali managing director of Bank Asia adding that the banks were forced to settle transactions at the higher rate because of the scarcity of the US dollar Banks usually do not get greenbacks from the central bank which compelled them to settle the deal avoiding the inter-bank rate said Syed Mahbubur Rahman managing director of Dhaka Bank Subsequently he urged the government to take initiatives to increase export earnings and remittances to ensure steady supply of the US dollar ldquoThe current account balance posted a huge deficit in the first quarter of the fiscal year This reflects the existing foreign currency shortagerdquo he added Between the months of July and September the current account deficit stood at $179 billion in contrast to $539 million in the surplus a year earlier according to data from the central bank During the period the trade deficit widened to $365 billion from $156 billion a year earlier Source httpwwwthedailystarnetbusinessdollar-suddenly-becomes-dearer-1489096

POLICY SUPPORT NEEDED TO DIVERSIFY EXPORTS ANALYSTS The government should extend its policy support beyond the garment sector in order to diversify exports said experts yesterday ldquoWe will have to give importance to various promising sectors which are apparently not visible like the garment sector to diversify exportsrdquo said Prof Wahiduddin Mahmud an eminent economist He said the government would have to provide subsidies to small sectors mostly manufacturing industries to carry on the existing export growth momentum He was speaking at the Bangladesh Enterprise Institutes stakeholder consultation workshop on ldquoExport Diversification Challenges and Prioritiesrdquo IFIC Bank organised the programme at its headquarters in Dhaka Commerce Minister Tofail Ahmed said Bangladesh would be able to reach its export target of $60 billion by 2021 Prof Mahmud said the manufacturing sector should be focused to make the countrys growth export-led Otherwise it would not be possible to maintain the current share of exports to the GDP after two or three years Salman F Rahman vice-chairman of Beximco Group who chaired the workshop said the government will have to extend the bonded warehouse facilities to all sectors and give cash incentives to small sectors

Daily News Flash 12th November 2017

13

He said the government is cutting various policy supports including cash incentive for the garment sector ldquoBut it is not the right time to discontinue the incentivesrdquo The businessman urged the government to continue its support so that the garment sector can maintain its growth momentum Mustafizur Rahman a distinguished fellow of the Centre for Policy Dialogue said intra-garment diversification needs to continue to boost exports He said the exchange rate should be kept at the level that helps exporters The economist said pharmaceutical leather and light engineering sectors have huge opportunities to contribute to exports if they receive supports Allah Malik Kazemi change management adviser to the Bangladesh Bank said the global slowdown has affected the exporters He said the central bank keeps the interest of exporters in mind while managing the foreign exchange market Md Nojibur Rahman chairman of the National Board of Revenue said there is political commitment from the government to stand by exporters He emphasised export diversification saying the NBR also has a role to play by way of supporting small sectors Kazi M Aminul Islam executive chairman of the Bangladesh Investment Development Authority said the government would have to put more emphasis on agriculture and manufacturing sectors to diversify exports He said the garment sector grew fast riding on the policy support provided by the government in areas such as bonded warehouse exchange rate and incentives ldquoOther promising sectors should be provided the same policy support so that they can growrdquo he said Mohammad A Razzaque project leader of the BEI said it is stated that the non-garment exports will not grow because of the policy support provided to the garment sector He disagreed with the argument saying promoting export diversification and maintaining the garment sector dynamism must go hand in hand BEI President Farooq Sobhan also spoke Source httpwwwthedailystarnetbusinesspolicy-support-needed-diversify-exports-analysts-1489081

DIGITAL HUNDI SHRINKS REMITTANCE FLOW THROUGH BANKS BIBM Hundi traders have been fast transferring remittance to relatives of expatriate Bangladeshis through mobile services which have resulted in a fall in the amount of money sent through banking channels This was reflected in a research report by the Bangladesh Institute of Bank Management (BIBM) The report titled ldquoIncreasing flow of remittance through banking channel Bangladesh contextrdquo was placed at a seminar at the BIBM auditorium yesterday A six-member team led by BIBM Director Shah Md Ahsan Habib prepared the report According to the report remittance flow decreased in recent times all over the world but the fall in Bangladesh was more as it accounted for a considerably high amount of remittance generated in total The report identified several reasons for which remittance was plunging including bank branches being distant from the houses of remitters relatives The report also mentioned a lack of good behaviour on the part of bankers requirement of various documents and weekly holidays as causes BIBM Supernumerary Professor Yasin Ali said the scope of mobile banking has much increased in the last five year but banks have failed to utilise the channel He said banks have to provide remitters the opportunities which were offered by unofficial channels otherwise inflow of remittance through the banking channel would plummet

Daily News Flash 12th November 2017

14

Another BIBM Supernumerary Professor Helal Ahmed Chowdhury said the cost of sending remittance through banking channels was higher the effect of which was falling on remittance inflow Chowdhury said an initiative has to be taken to slash the cost of transferring remittance to increase the inflow through banking channels SK Sur Chowdhury deputy governor of Bangladesh Bank said remittance flow to Bangladesh declined by 1110 percent in 2016 due to lower oil prices and fiscal policy tightening in the Gulf Cooperation Council countries It is hoped that awareness programmes would encourage non-resident Bangladeshis to come forward to know the importance of channeling their money through banks he said Chowdhury also said to ease the flow in the formal channel Bangladesh Bank has reduced the security deposit requirement for exchange houses abroad to establish drawing arrangements with local banks In addition to their own bank branches and ATM booths banks are now using the branch networks of microfinance institutions and post offices as sub agents for remittance distribution Remittances are also distributed through agent banking such as that provided through Singer Bangladesh Limited outlets he said Furthermore Bangladesh Bank has established a separate ldquoFinancial Integrity and Customer Interest Protection Departmentrdquo to handle complaints and suggestions of customers or stakeholders at home and abroad to ensure smooth and hassle free services The ldquo16236rdquo hotline is to address customers hassles if any He said at the moment no bank can take more than two days in reaching remittance to designated beneficiaries Source httpwwwthedailystarnetbusinessdigital-hundi-shrinks-remittance-flow-through-banks-bibm-1489075

JOINT VENTURE TO PRODUCE 600MW IN MATARBARI

A joint venture between Japans Mitsui amp Co and a state-run Bangladeshi company is going to set up a liquefied natural gas-based power plant at Matarbari in Maheshkhali upazila to produce 600 megawatts of electricity Coal Power Generation Company Bangladesh Ltd yesterday signed a primary agreement with Mitsui amp Co to this effect in Dhaka on Wednesday according to a statement of the power and energy ministry The companies will have 50-50 ownership in the joint venture that will complete the project by 2021 The government has taken initiatives to import a huge amount of LNG from next year Both land-based and floating LNG terminals will be set up The government has approved two floating LNG terminals each of which will supply 500 million cubic feet of gas per day In July state-run Petrobangla and US-based Excelerate Energy signed the final deals to set up Bangladeshs first LNG terminal in Maheshkhali which will supply gas to the national grid from early 2018 The government also awarded Summit Group the work to set up the countrys first floating LNG terminal also in Maheshkhali This one is due for commissioning by next October Source httpwwwthedailystarnetbusinessjoint-venture-produce-600mw-matarbari-1489069

Daily News Flash 12th November 2017

15

EXPORTS TO EU STATES BUT GERMANY POST ENCOURAGING GROWTH

Bangladeshrsquos export earnings from European countries except Germany registered a significant growth in the July-October period of this financial year 2017-18 riding on an excellent performance of readymade garment products According to the Export Promotion Bureau data exports to major European countries registered double digit growth in the four months of FY18 while the RMG export to Germany fell in the period compared with that in the same period of last fiscal year The EPB data showed that Bangladesh suffered a negative export growth in two promising markets mdash Japan and China mdash in the July-October period of FY18 Exporters said that earnings growth in the EU markets increased in recent months as the euro appreciated against the dollar They also said that buyers and brands cut import orders from Bangladesh for their Chinese stores that caused the negative growth Export earnings from the UK the second largest export destination for Bangladesh in the EU grew by 2084 per cent to $134 billion in the four months of FY18 from $111 billion in the same period of FY17 Earnings from apparel products fetched $125 billion with 2227 per cent growth in the period Export earnings from Spain in July-October in FY18 grew by 2581 per cent to $80102 million from $63670 million in the same period of FY17 Export earnings from the Netherlands rose by 3416 per cent to $40108 million in the four months of FY18 Bangladesh earned $58097 million from France with 270 per cent growth and $46374 million from Italy with 1206 per cent growth Exports to Germany the second largest export destination for Bangladesh in the July-October period of FY18 stood at $186 billion the same amount earned in the July-October period of FY17 Anwar-ul-Alam Chowdhury Parvez former president of the Bangladesh Garment Manufacturers and Exporters Association said exports depend on season and the earnings from Germany would increase from November RMG export earnings fell by 039 per cent to $173 billion from $174 billion in the market data showed lsquoWe have to wait to identify the reasons for the stagnancy of growth in the German market Hopefully the export would rebound in the market in the coming monthsrsquo Md Fazlul Haqe former president of the Bangladesh Knitwear Manufacturers and Exporters Association told New Age on Saturday

Daily News Flash 12th November 2017

16

Export earnings from the US the largest destination for Bangladeshrsquos exports in the July-October period of FY18 grew by 228 per cent to $187 billion from $183 billion in the same period of FY17 Apparel export to the market grew by 244 per cent to $168 billion from $164 billion The EPB data showed that the countryrsquos export earnings from Japan in the July-October period of FY18 fell by 394 per cent to $33390 million from $34760 million in the same period of FY17 Export earnings from China in the four months of the FY18 decreased by 2242 per cent to $22475 million from $28971 million in the corresponding period of last fiscal year Parvez said that the domestic consumption in China slightly decreased in recent times and global retailers also cut import orders from Bangladesh for their Chinese stores due to congestions in the Chittagong port lsquoWe are losing many orders from global brands as we have been failing to meet lead time due to the problem in the portrsquo he said Source httpwwwnewagebdnetarticle28200exports-to-eu-states-but-germany-post-encouraging-growth

REHAB LEADERS DEMAND CUT IN TAXES Realtors on Saturday urged the government to cut tax rates at different levels of the housing sector to give a much-needed boost to the sector They also requested the government not to raise question over the source of the minimum paid up capital (Tk 1 crore) a real estate company requires to be a member of the Real Estate and Housing Association of Bangladesh REHAB leaders made the requests at a joint meeting with the National Board of Revenue held in a city hotel on the day NBR chairman Nojibur Rahman attended the meeting as chief guest while REHAB president Alamgir Shamsul Alamin senior vice-president Nurun Nabi Chowdhury Shaon and vice-president Liakat Ali Bhuiyan were also present among others Alamgir said that the REHAB made it mandatory for its member companies to have Tk 1 crore paid up capital and he requested the government not raise question over that money The government earlier made it mandatory for all developer companies to be REHAB members Alamgir also urged the government to form a re-financing fund worth Tk 20000 crore under Bangladesh Bank to provide low-interest and long-term loans to the potential apartment buyers He demanded apartment registration fee to be reduced to 65 per cent from the existing 155 per cent mentioning that other SAARC countries maintained it at 4-7 per cent Alamgir said that the government was losing huge revenue due to the high apartment registration fee as buyers were showing unwillingness to register their apartments at high cost Nurun Nabi urged the government to meet the REHABrsquos longstanding demands to save the housing sector from ruination He also called for reducing corporate tax of non-public traded companies to 20 per cent from the existing 35 per cent He sought a cut in the tax on signing money to 75 per cent from the existing 15 per cent Alamgir also appealed for reducing tax rate on apartment resale to 3 per cent He also sought total 15 per cent tax and VAT on professional services like engineering and architecture from the current 27 per cent Nojibur said that an NBR-REHAB joint working group would be formed to work together for the betterment of the housing sector He also requested REHAB leaders to provide opinions on the income tax law that would be amended soon He assured them that the NBR would consider their demands Source httpwwwnewagebdnetarticle28201rehab-leaders-demand-cut-in-taxes

Daily News Flash 12th November 2017

17

BrsquoDESH BHUTAN START TRADE DATA SHARING IN JAN Bangladesh and Bhutan have decided to start exchanging export-import data from January 1 to verify trade documents to check duty evasion and other customs-related offences through misdeclarations of goods and prices during trades between the two countries The data will be mailed in the first week of the subsequent month according to the decision taken at the 3rd Bangladesh-Bhutan joint group of customs meeting held in November 7-8 in Thimphu the capital of the Himalayan kingdom Initially both sides will exchange export data of three commodities and gradually the scope will be expanded to all the export items Delegations from the both sides also agreed to boost the existing trade volume between the two countries and improve infrastructure at land customs stations of Bangladesh and Bhutan to facilitate border trade Bhutan informed the meeting that they were establishing a mini dry port at Phuentsholing which would boost border trade between the countries National Board of Revenue member (customs audit modernisation and international trade) Khondaker Muhammad Aminur Rahman and Bhutanrsquos Department of Revenue and Customs director Yonten Namgyel led the respective delegations at the meeting Following a request from Bangladesh Bhutan agreed to put necessary information including country of origin name and address business identification number and tax identification number of importer on the export packages as per the current Import Policy Order of Bangladesh Both sides also agreed to hold ground-level customs meetings twice a year alternately at Phuentsholing of Bhutan and Burimari of Bangladesh to resolve customs-related problems smoothly The two countries also decided to raise the issue of improving the infrastructure at Changrabandha (Indian LCS opposite to Burimari of Bangladesh) and Jaigaon (Indian LCS opposite to Bhutanrsquos Phuentsholing) to ensure smooth border trade between the countries Bangladesh also requested the landlocked kingdom to use Nakugaon-Dalu-Gelephu route for their imports and exports as Bangladesh has decided to upgrade Nakugaon LCS as a trade hub for border trade with India and Bhutan Bangladesh side also underscored the potentials of use of riverine routes as mode of transport for export and import of goods Bhutan may also get duty-free market access for limestone powder export to Bangladesh according to the decision of the meeting Mohammad Ehteshamul Hoque NBR first secretary of customs modernisation and international trade on Saturday told New Age that both countries had resolved some small-scale problems to facilitate bilateral trade and committed to further enhancing border trade The planned ground-level meeting of customs officials will also play a role in identifying and resolving bottlenecks in trade between the two nations he said According to the NBR data Bangladesh exported products worth $322 million to Bhutan in the fiscal year 2016-2017 while it imported from the country products worth $3315 million Bangladeshrsquos highest export earnings from the country were $913 million posted in the FY 2011-2012 and the earnings have been declining with fluctuations over the years Bangladeshrsquos major export items to Bhutan are bakery items fruit and vegetable juices tableware kitchenware and toiletry articles of plastics non-alcoholic beverages menrsquos singlets briefs pyjamas medicament mixtures rice aluminium structure and few garment items On the other hand the country imports mainly citrus fruits stone granite dolomite limestone ferro-alloys apple and gypsum from Bhutan Source httpwwwnewagebdnetarticle28202bdesh-bhutan-start-trade-data-sharing-in-jan

Daily News Flash 12th November 2017

18

TAX FAIRS AT ALL ZONES BEGIN TODAY Income tax fair begins today at all income tax zones across the country to provide taxpayers with services in a similar hassle-free atmosphere they got at recently-concluded countrywide weeklong tax fair National Board of Revenue chairman Md Nojibur Rahman on Saturday in a statement said that the decentralised fair at the zones with similar facilities like the weeklong national tax fair would continue till November 30 the last day of income tax returns submission Tax officials will also start issuing income tax ID cards from November 20 to the taxpayers under each tax zone in Dhaka Issuance of ID cards will continue till November 28 There are 31 income tax zones across the country including 15 in Dhaka and four in Chittagong Officials of the revenue board said that the NBR took the decision so that all taxpayers could file their tax returns without any hassle with maximum support from tax officials Initially the NBR planned to issue ID card from November 9 which was deferred due to lack of preparation Source httpwwwnewagebdnetarticle28203tax-fairs-at-all-zones-begin-today

BTRC LIKELY TO LOSE RIGHTS OVER UNUSED BALANCE IN BLOCKED SIMS Mobile phone operators are likely to get relief from paying the government the unused balance in the SIM cards that would be blocked by the telecom regulator for various reasons especially for illegal voice-over internet protocol calls Mobile operators however will have to return the unused balance to its owner if claimed said officials of Bangladesh Telecommunication Regulatory Commission They said that a proposed amendment to the 4G licencing guidelines that would be passed by the telecom regulator in the upcoming commission meeting following instruction from prime ministerrsquos ICT advisor and posts and telecommunication ministry The instruction was made based on a meeting between the mobile phone operators and the government high officials on the proposed 4G licencing guidelines they said As per the BTRC approved draft 4G licencing guidelines that would be revised it was mandatory for all the operators to pay the BTRC the remaining balance amount of the identified illegal prepaid VoIP callers and unsuccessful or fake SIM registration of service connection fund at the time of deactivating them It was also mentioned in the guidelines drafted earlier that there would not be any rights of the mobile network operators over the forfeited account balance of the illegal VoIP callers Whereas it was also mandatory for the operators to pay the remaining balance of such SIM cards within ten days of the following month In case of deactivation of SIM cards for illegal VoIP calls mobile operators would keep the remaining balance while operators would have to pay the balance to its owner if claimed for deactivation of SIM cards for any other reason Such specification about the unused balance would help the operators while the government would lose its rights over the forfeited fund BTRC officials said Such initiative might foil another BTRC move to take stand against the mobile phone operators for non-payment of unused balance in the SIM cards which were blocked by the telecom regulator for various reasons Countryrsquos leading mobile phone operator Grameenphone in February this year deposited Tk 733 crore to the telecom regulator against the unused balance in the connections that were blocked between 2008 and 2014

Daily News Flash 12th November 2017

19

While other operatorsmdash Banglalink Robi Airtel Citycell and Teletalk mdash were yet to pay any fund to the commission in this regard Airtel formerly known as Warid Telecom has already merged with Robi in November 2016 Apart from the unused balance issued the government acknowledged almost all the issues raised by the mobile phone operators about the 4G licencing guidelines BTRC officials said Source httpwwwnewagebdnetarticle28107btrc-likely-to-lose-rights-over-unused-balance-in-blocked-sims

BONDED WAREHOUSE BACK-TO-BACK LC SHOULD BE OPEN TO ALL EXPORTERS Bonded warehouse facility and back-to-back letter of credit facility should be open for all for the export of all sorts of goods to diversify export products said experts and businesses at a workshop on Thursday They came up with the observation while speaking at a stakeholdersrsquo consultation workshop on lsquoExport Diversification Challenges and Prioritiesrsquo organised by Bangladesh Enterprise Institute at IFIC Tower in Dhaka Commonwealth Secretariat adviser and head of international trade and regional cooperation Section Mohammad Razzaque presented a keynote paper on lsquoRevitalising Bangladeshrsquos export trade Policy issues for growth acceleration and diversificationrsquo Razzaque in his presentation said that there should be alternatives of diversifying export destinations and products to achieve $60 billion export target by the year 2021 Although the country has continued to achieve more than 6 per cent growth export to GDP ratio has declined a bit in last couple of years and to increase the ratio for sustaining economic growth there was no alternative to increasing exports he said To facilitate export diversification and ensure equal facility treatment among the exporters all the sectors should get bonded warehouse facility as well as back-to-back letter of credit facility that helped the countryrsquos readymade garment sector to grow Razzaque said Salman F Rahman private sector development advisor to prime minister also said that the bonded warehouse and back-to-back LC facilities should be opened for all to support other exporters Suggesting for the continuation of existing facility for the RMG sector Salman also president of BEI said lsquoWe need product diversification for the economic growth but not at the cost of RMG sectorrsquo Former Dhaka University economics department chairman Wahiduddin Mahmud said that the gov ernment should set a broad category and announce subsidy and cash incentives for longer period to help the sectors to contribute to exports as well as economic growth Speaking about the exchange rate issue the eminent economist also said lsquoAs balance of payment has turned negative the government should not try to control the exchange rate anymorersquo Centre for Policy Dialogue distinguished fellow Mustafizur Rahman said lsquoApart from diversification of other products intra-RMG sector product diversification is also important as we have created a strong foothold in the sector and itrsquos a one trillion dollar marketrsquo Speaking about the repeated change in policy Federation of Bangladesh Chambers of Commerce and Industry president Shafiul Islam Mohiuddin said lsquoElectricity price has been doubled with just a so-called hearing and that led our foreign partners to backtrackrsquo Speaking about the 070 per cent source tax imposed on apparel sector commerce minister Tofail Ahmed said rsquoAlthough we cannot do a lot for the sector but such tax should not remain on the sectorrsquo Source httpwwwnewagebdnetarticle28039bonded-warehouse-back-to-back-lc-should-be-open-to-all-exporters

Daily News Flash 12th November 2017

20

GOVT TO SPEND FUND FOR TOBACCO CONTROL MEASURES CAMPAIGNS The government has finally framed a policy on the use of health development surcharge it imposed on tobacco products three and half years ago The health and family welfare ministry on Wednesday issued the gazette notification of Health Development Surcharge Management Policy-2017 identifying 16 sectors for spending the fund on The fund will mainly be used for limiting the demand for and supply of tobacco products financing tobacco control activities conducting researches and campaigns and operating Tobacco Tax Cell of the National Board of Revenue The revenue board in July 2014 imposed 1 per cent surcharge on all tobacco products both locally produced and imported ones aiming to spend the fund for implementing the programmes to control and discourage the use of tobacco products and prevent tobacco-related diseases In the last three fiscal years (2014-15 2015-16 and 2016-17) the tax authority collected around Tk 900 crore as health development surcharge from tobacco products including cigarette bidi gul zarda and other smoking and chewing tobacco products But the fund remains idle as the health ministry has not got the access to the fund over the years as there was no policy on how to the money be used Officials of the revenue board said that formulation of the policy had paved the way for utilising the fund for tobacco control and prevention of tobacco-related diseases They said that every year around Tk 300 crore would be added to the fund According to the policy the collected surcharge will be used for financing national tobacco control activities operation of the NTCC under the ministry campaigns in the mass media on health hazards of tobacco products and tobacco control and providing trainings to stakeholders The fund will also be used for setting up National Quitline a hotline to help people quit tobacco consumption and providing financial and technical support to organisations for implementation of programmes to prevent tobacco-related non-communicable diseases Programmes will also be taken to create awareness among farmers against tobacco cultivation and motivate them to cultivate alternative crops according to the policy According to the policy a Health Development Surcharge Management Committee headed by the health minister will supervise the proper use of the fund The National Tobacco Control Cell will provide secretarial support to the committee Fund from other sources such as possible imposition of any surcharge on products hazardous to health in future and donations from local and foreign sources will also be added to the fund it said The expenditures from the fund will be audited in line with the methodology followed for the other government agencies it said According to the Global Adult Tobacco Survey-2009 some 413 crore people or 43 per cent of the total population of Bangladesh consume tobacco products On the other hand 430 crore people are victims of indirect smoking According to the World Health Organisationrsquos 2004 data 57000 people die every year in Bangladesh suffering from tobacco-related diseases The government has taken an initiative to make the country smoking free by 2040 Source httpwwwnewagebdnetarticle28040govt-to-spend-fund-for-tobacco-control-measures-campaigns

STUDY BLAMES MOBILE HUNDI FOR FALLING REMITTANCES THRU BANKING CHANNEL A study of Bangladesh Institute of Bank Management on Thursday blamed Hundi through mobile financial services including bKash Rocket mCash and UCash for decreasing remittance through banking channel

Daily News Flash 12th November 2017

21

The study conducted by a six-member team identified distance of bank branches delay in receiving money misconduct by bankers submission of various documents weekly holidays of banks and illegal immigrants as the reasons for increasing remittance inflow through mobile Hundi The six-member team headed by BIBM director Shah Md Ahsan Habib presented the study at the seminar presided over by BIBM director general Toufic Ahmad Choudhury held in the auditorium of the institute in the city lsquoIn Bangladesh remittances declined by an estimated 111 per cent in 2016 in the face of lower oil prices and fiscal tightening in the GCC countries Among other reasons use of Illegal channel by the expatriates is doing harm to our countryrsquo Bangladesh Bank deputy governor Shitangshu Kumar Sur Chowdhury said He said that it would not be possible to stop Hundi totally but BB is working to check the transactions through the illegal channel To ease the formal channel BB has reduced the security deposit requirement for the exchange houses abroad to make arrangements for remittances with local banks Shitangshu said The BB deputy governor hoped that Non-Resident Bangladeshis would come forward to know the importance of their money to be sent through banking channels BB former executive director Yasin Ali said that national economy was being hindered due to remittance inflow through illegal channels He suggested using mobile banking facilities for remittance inflow saying that the area of mobile banking expanded many fold in last five years Helal Ahmed Chowdhury former managing director of Pubali Bank suggested bankers to be courteous with bank customers Source httpwwwnewagebdnetarticle28041study-blames-mobile-hundi-for-falling-remittances-thru-banking-channel

POLICY SUPPORT MUST TO DIVERSIFY EXPORT BASKET Speakers on Thursday said that in order to diversify the countryrsquos export basket export-oriented businesses should be given the policy support that has proved highly successful in bringing vibrancy to the countryrsquos RMG sector They were speaking at a workshop styled ldquoExport Diversification Challenges and Prioritiesrdquo organised by Bangladesh Enterprise Institute (BEI) in the auditorium of International Finance Investment and Commerce Bank in Dhaka Dr Mohammad A Razzaque former head of International Trade Policy at Commonwealth Secretariat in London presented a keynote paper in the programme chaired by Salman F Rahman private sector development advisor to Awami League President and Prime Minister Sheikh Hasina Skill development measures may also play a vital part in this regard Salman said export diversification would be possible only when adequate and appropriate policy support is provided to all export-oriented industries Dr Razzaque in his keynote paper suggested revamping and deepening policy support such as providing cash assistance and bonded warehouse facilities to all such industries to improve their export competitiveness He also highlighted the need for further expanding Bangladeshrsquos export basket as its penetration into global export markets in the last decade was very insignificant Eminent economist Prof Wahiduddin Mahmud said ldquoIn addition to providing subsidies and cash incentives to thriving and promising sectors on a long-term basis the government should take measures to strengthen the countryrsquos manufacturing baserdquo

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22

Shafiul Islam Mohiuddin president of the Federation of Bangladesh Chambers of Commerce and Industry said the governmentrsquos support is a must to create a strong manufacturing base for export diversification ldquoSkill development measures may also play a vital part in this regardrdquo Addressing the event as the chief guest Commerce Minister Tofail Ahmed said export diversification depends on businessmenrsquos initiatives He however pledged all necessary support from the government for export diversification to meet the countryrsquos $60 billion export target by 2021 BEI President Farooq Sobhan emphasised engaging the private sector in relevant policy discourses to achieve the target ldquoA private sector-oriented policy mechanism is very important as rapid changes are taking place in the global trade landscape Understanding implications and generating timely policy responses to unfolding developments will be meaningful only when the private sector is able to benefit from themrdquo said Sobhan Among others Mustafizur Rahman a fellow at the Centre for Policy Dialogue Kazi M Aminul Islam executive chairman of Bangladesh Investment Development Authority Bijoy Bhattacharjee vice chairman of Bangladesh Export Promotion Bureau and Md Nojibur Rahman chairman of the National Board of Revenue also spoke Source httpwwwdhakatribunecombusinesseconomy20171109policy-support-must-diversify-export-basket

BANKS LACK REMEDIAL STRATEGY WHILE NPL RISES WORRYINGLY Some of Bangladeshs banks dont have in-depth look into the problem of spiraling non-performing loans (NPL) while many others try to frame remedial strategies perfunctorily Such observations came out from studies on banking as well as financial sector at large as the NPL surge worries many quarters One finding shows that around 11 per cent of the countrys banks did not have an in-depth look into the issue of NPLs in the past year despite a growing concern over the problem in the financial arena The recent industry-wide survey also revealed that around 30 per cent of the countrys banks had not assessed their past NPL-reduction strategies at all while 36 per cent did so only on an ad-hoc basis The findings came out from the survey of the Chief Risk Officers at the banks on issues concerning NPL strategy in their institutions Leading banking research and training institution Bangladesh Institute of Bank Management (BIBM) conducted the study The research findings come at a time when the ballooning NPLs is becoming a major issue with the countrys banking industry and also triggering concerns and criticisms As per the central bank data the volume of NPLs had increased by more than 21 per cent to Tk 62172 billion by the end of 2016 swelling from Tk 51371 billion a year before The findings are genuinely surprising as we are struggling to find a bank for which NPL is not an issue in some capacity said Sazib Azad Senior Advisor of BIBM who led the research initiative Furthermore if the bank itself is immune to the impact of NPL even then they need to consider whether they are immune from structural or market-level impacts as well he told the FE However relevant survey results show the potential lack of such considerations as only 10 per cent of bank CROs taking part in the survey said that their banks are addressing potential dependence on market assessment and strategy What is more surprising is that the NPL strategies of around 62 per cent of the banks are not signed off by the boards the survey found

Daily News Flash 12th November 2017

23

This is quite striking because given the severity of the non-performing-loan issue the NPL strategy should be signed off by the boards Mr Azad said adding Boards are not only accountable for the health of the banks but are also in position to release resources to get to grips with the issue In addition the survey result also revealed 31 per cent of the banks not communicating their NPL strategy across the bank NPL as an issue needs to be addressed from ground up But the results show that this is not happening at our banks said an expert who was involved with research Meanwhile 25 per cent of the CROs said they were not tracking the implementation and effectiveness of NPL strategy in their banks- something which according to experts is a cause of concern Given how critical an issue NPL exposure is we would expect every CRO to track how the NPL strategy is being implemented its effectiveness and how to improve matters to the Board Risk Committee and the Board the banking experts said Meanwhile the survey results also found that although 94 per cent of the banks had stress-tested their balance sheet in terms of NPL drag this figure drops to 56 per cent while considering the impact to and from the wider economy market and structural aspects It seems that 33 per cent of the banks do not formally consider this aspect with a further 11 per cent not looking at this dimension at all the researchers said Experts also noted that with Basel 3 farther putting capital under pressure sensible banks should dynamically model the impact of key risks to their capital However the survey results show 17 per cent of the banks are not doing so while 31 per cent doing it in a limited manner Asked whether their banks risk-appetite-statement metrics reflected their NPL strategy 36 per cent of the respondents said they do so in a limited capacity while a further 80 per cent are not doing that at all It was also found that 25 per cent of the C-Suites have specific NPL-strategy-related targets while 31 per cent of the CROs have the same Meanwhile when asked whether they consider their NPL strategy to be embedded just over half of them or 52 per cent of the survey participants said Yes This according to experts is clearly not fit for purpose given the severity of the NPL issue facing the banking sector The first step in looking into the NPL issue is to assess internal capabilities to effectively manage NPLs Next external conditions or operating environment needs to be considered Finally the capital implications of the NPL strategy need to be analyzed said Sajib Azad The findings of the survey will be shared with the stakeholders during the next CRO forum of BIBM expected to take place next month where the issue of Risk Culture will also figure high The biggest reason for the swelling of NPL in our banking sector is a lack of good governance To check the ballooning of NPL the internal governance of the banks has to be strengthened above all Director-General of BIBM Toufic Ahmad Choudhury said Meanwhile the survey also found banks tending to consider time-horizon portfolio segment and exposure-level-based targets to be broadly equally important to their NPL strategy In terms of options preferred for reducing NPL banks consider change of exposure type to be most effective (36 per cent) followed by active portfolio reductions (33 per cent) and hold forbearance (31 pe rcent) Source httptodaythefinancialexpresscombdfirst-pagebanks-lack-remedial-strategy-while-npl-rises-worryingly-1510417700

GOVT SEEKS US$183B UNDER 39TH JAPANESE ODA PACKAGE The government has sought around US$183 billion worth of assistance from Japan for bankrolling six development projects officials said Saturday

Daily News Flash 12th November 2017

24

Officials at the Ministry of Finance (MoF) said they have already discussed the issue with the Japan International Cooperation Agency (JICA) We are hopeful of receiving funds under its upcoming 39th Official Development Assistance (ODA) package to finance six development projects a senior MoF official told the FE He said a JICA mission in September-October last completed its visit to Bangladesh to explore the possibilities of financing the proposed projects We are hopeful of signing the 39th ODA package with JICA within a couple of months he said After signing the loan deal the largest bilateral donor will start disbursement of funds from the proposed $183 billion aid package for the six development projects the MoF official added The proposed six projects under the 39th ODA package are Matarbari port development Dhaka MRT line-6 construction (phase-III) Dhaka MRT line -5 feasibility study Matarbari ultra super critical coal-fired power plant (phase-IV) Jamuna Railway Bridge construction and Health service strengthening project A senior official of Economic Relations Division said the proposed 39th ODA package will be very useful for Bangladesh as it will be utilised to develop the Matarbari port ongoing Matarbari power plant project conduct feasibility study and detailed design of the MRT line-5 in Dhaka and to construct railway bridge over the River Jamuna All of these projects are very important for the country to ensure smooth transportation and uninterrupted power supply he added Japan is the largest bilateral development partner of Bangladesh Over last 5-6 years it has enhanced its aid with confirmation of more than US$10 billion worth of funds under each of the aid packages In the last 38th ODA package signed in June 2017 JICA provided Yen 178223 billion ($164 billion) for utilising in six development projects on transport infrastructure power and water sector improvement works In June 2016 Japan signed the 37th ODA deal worth $150 billion (17354 billion Japanese Yen) with Bangladesh and in December 2015 it inked the 36th ODA package confirming $12 billion concessional loan for six development projects Under the last 38th ODA package JICA offered $700 million (Yen 76825 billion) for Hazrat Shahjalal International Airport Expansion project $480 million (Yen 5273 billion) for 2nd Kanchpur Meghna and Gumti bridges construction $50 million (Yen 5593 billion) for Dhaka Mass Rapid Transit development project (Line 1) $100 million (Yen 10745 billion) for Matarbari ultra super critical coal-fired power plant $190 million (Yen 20477 billion) for Dhaka underground substation construction project and $110 million (Yen 11853 billion) loan for small scale water resources development project Japan has so far provided Bangladesh with nearly US$12 billion in assistance since the financial year (FY) 1971-72 Source httptodaythefinancialexpresscombdfirst-pagegovt-seeks-us183b-under-39th-japanese-oda-package-1510417739

SUMMIT GROUP ENTITIES TO ISSUE PREFERENCE SHARES WORTH $1250M A subscription closing ceremony to raise capital through issuance of preference shares worth BDT 1000 million (USD 1250 million) for Summit Barisal Power Limited amp Summit Narayanganj Power Unit II Limited was held recently at Pan Pacific Sonargaon Dhaka said a statement LankaBangla Finance Limited acted as the Mandated Arranger LankaBangla Investments Limited acted as the Issue Manager and The City Bank Limited acted as the Agent Account Bank amp Custodian Bank to raise the fund In the event Mr Lt Gen (Retd) Engr Abdul Wadud Managing Director of Summit Barisal Power Limited amp Summit Narayanganj Power Unit II Limited Mr Khwaja Shahriar Managing Director amp

Daily News Flash 12th November 2017

25

CEO of LankaBangla Finance Limited Mr Mohammed Nasir Uddin Chowdhury Managing Director of LankaBangla Capital Market Operations Mr Mominul Islam Managing Director amp CEO of IPDC Finance Limited Mr R Q M Forkan Managing Director amp CEO of Bangladesh Commerce Bank Limited Mr Faruq M Ahmed Additional Managing Director of Trust Bank Limited Mr Akthar Hamid Khan Deputy Managing Director of Pubali Bank Limited Mr Arif Hasan Khan Vice President of Modhumoti Bank Limited Mr Mohammad Ibrahim Khalil FCA Vice President amp CFO of Bank Asia Limited and Mr Mahbub Jamil Vice President and Head of Structured Finance of The City Bank Limited along with other senior officials from the companies were present Source httptodaythefinancialexpresscombdstock-corporatesummit-group-entities-to-issue-preference-shares-worth-1250m-1510411878

BMBA URGES MUHITH TO EXEMPT INVESTMENTS BY MF SPONSORS Bangladesh Merchant Bankers Association (BMBA) has urged the finance minister to exclude some components including sponsors investments in mutual funds (MFs) from the banks exposure to the capital market It made the request for ensuring an environment conducive to gradual development of the capital market according to a proposal submitted to Finance Minister AMA Muhith last week The BMBA said the long-term or strategic investments needed to be excluded while calculating the exposure as these investments were not intended for frequent trading Non-convertible preference shares and non-listed securities also need to be excluded from the capital market exposure as it will never influence the capital market volatility it said in a letter to the minister According to the letter the MFs are passive investments where investors themselves are not involved in investment decision making and such fund portfolios are mostly of long-term nature than frequent trading On the other hand the sponsors of the MFs need to hold 10 per cent of the investment until liquidation of the fund So considering the fact the sponsors portions in MFs need to be excluded from the banks capital exposure said the BMBA proposal As per the Banking Act 1991 it said reporting requirement is on solo basis but the central bank has introduced consolidated calculation which is of dual effectdouble counting in the market exposure This kind of restrictive measure creates panic situation in the market and may hinder the potentials and prospects of the capital market as a whole the BMBA said It also said that this kind of practice needed to be stopped as such requirements and reporting practice would further squeeze the market and that the investors would lose their interest The BMBA said some organisations have invested on strategic purpose and were holding positions in the board and their exposure increased with rising the market price of MF units On the other hand in compliance with the securities rules they are unable to sell shares to reduce exposure the BMBA said terming the situation complicated In its letter the BMBA said that the capital market exposure of some banks and financial institutions increased without fresh investments following the upward trend of the market price as the exposure is calculated on the basis of market price If the banks need to go for selling off their excess exposure this will create unnecessary selling pressure on the market said the BMBA The association requested the finance minister to consider their proposal to facilitate the growth of the capital market by its own strength and prospect Source httptodaythefinancialexpresscombdstock-corporatebmba-urges-muhith-to-exempt-investments-by-mf-sponsors-1510411950

Daily News Flash 12th November 2017

26

ATIUR STRESSES ROLE OF REGULATORS IN DIGITAL FINANCIAL INCLUSION Former Bangladesh Bank Governor Dr Atiur Rahman chairs a session at the 5th Biennial Competition Regulation and Development Conference at Jaipur in India on Thursday Success of digital financial inclusion depends on the prudent role of the regulating bodies to a great extent And the recent progress in Bangladesh in this regard is a good example for the rest of the world to follow said Dr Atiur Rahman former governor of Bangladesh Bank says a statement He was chairing a session at the 5th Biennial Competition Regulation and Development Conference at Jaipur India on Thursday The three-day conference is being hosted by CUTS International and OECD Speakers of the session included Ravinder S Aurora Senior Vice President of Mastercard David Ongolo Kenyan Competition Authority and Dr A K EnamulHaque Professor of East West University Dhaka Many developing countries survived and even thrived during the last global financial crisis because they chose to follow a broad-based financial inclusion strategy And digital solutions played a crucial role in this financial inclusion drive said Dr Rahman He added that service providers must focus on reaching out to the customers in the rural socio-economic conditions Dr Rahman said that experience from Bangladesh can answer many of the burning questions regarding digital financial inclusion The central bank of the country has facilitated bank-led digitisation drive Be it Mobile Financial Service or be it Agent Banking the Bangladesh Bank has encouraged traditional players (ie the commercial banks) to lead the way And it has been proven to be very successful He also said that the world is witnessing only the beginning of the digital finance revolution Hence we must learn from all these experiments share our experiences and know-hows Only then we can work towards shaping global standards and practices Dr Rahman finally asked all central banks to be more proactive and collaborative with other stakeholders including non-traditional financial service providers to facilitate orderly development of digital financial inclusion so that consumers interests are better protected The grievance redressal mechanism developed in Bangladesh Bank with infusion of state of the art technology to gain trust of the customers in financial inclusion was also discussed widely in the session The panelists highly appreciated Bangladeshs regulatory move with public interest in mind using latest technology for replicable digital financial inclusion Source httptodaythefinancialexpresscombdtrade-marketatiur-stresses-role-of-regulators-in-digital-financial-inclusion-1510416319

FAO FEARS NEGATIVE BD FOOD OUTPUT GROWTH ON FLOODING Recent flooding has dampened the outlook for Bangladesh a likely third successive season of little or negative food production growth mainly rice reports UNB quoting FAO Barring major setbacks production recoveries could instead permit Bangladesh and Sri Lanka to slightly lower their 2018 imports to 11 million and 450 000 tonnes respectively according to the latest Food Outlook published by the UN Food and Agriculture Organisation (FAO) Among other rice importers Bangladesh Iraq Nigeria and the Philippines are all similarly predicted to replenish their inventories according to the report a copy of which obtained by the news agency These gains are however likely to be offset by stock reductions in the Republic of Korea Madagascar Sri Lanka and the United Republic of Tanzania all linked to output shortfalls Although the use of rice as animal feed is being sustained by the release of supplies from government granaries in Japan the Republic of Korea and Thailand more affordable feedstuffs are expected to displace rice in most other countries especially in Bangladesh China (Mainland) and Vietnam

Daily News Flash 12th November 2017

27

Since the previous Food Outlook report a series of unfavourable climate-related events have affected main paddy crops in the Northern Hemisphere which have now reached the harvesting stage This has been the case in Asia where unlike 2016 the critical Northern Hemisphere summer months were characterised by mixed growing conditions that inhibited planting expansions As a result FAOs latest forecast of world rice production in 2017 points to a broadly stable output level of 5008 million tonnes Production in Asia is now forecast to fall 550 000 tonnes below the 2016 bumper harvest to 4525 million tonnes The UN agriculture agency has said the cost of importing food is rising in 2017 driven by increased international demand for most food stuffs as well as higher freight charges The cost of importing food is forecast to rise six per cent in 2017 to $1413 trillion making it the second highest bill on record while food commodity prices have been generally stable according to the latest Food Outlook that expressed concern about the economic and social impact of this trend on poor countries Although weather disruptions are set to stall production growth this season global rice supplies are still forecast to exceed utilisation enabling a small expansion of world rice inventories Global trade is expected to rise only modestly in 2018 after staging an 8 per cent recovery in 2017 The food import bills are set to increase by double-digit rates for least-developed countries (LDCs) and low-income food-deficit countries Aromatic rice varieties have risen eight times faster than the FAO All Rice Index which is up four per cent on the year However the higher import costs come at a time when inventories are robust harvest forecasts are strong and food commodity markets remain well supplied The export of tropical fruits is promising for poverty relief and rural development as almost all production takes place in developing countries The export volumes of mango pineapple avocado and papayas are on course to achieve a total combined value of $10 billion this year according to the Food Outlook Source httptodaythefinancialexpresscombdfirst-pagefao-fears-negative-bd-food-output-growth-on-flooding-1510336161date=11-11-2017

STOCKS NUDGE HIGHER AS BANK TELECOM ISSUES SURGE Stocks extended the winning streak for the two consecutive weeks that ended Thursday as enthusiastic investors continued their buying appetite on bank and telecommunication issues Market operators said the positive momentum in some large-cap issues especially from banking telecom pharmaceuticals and food amp allied sectors helped the bourse to stay upbeat The banking sector posted the highest return of 445 per cent as 27 out of 30 listed banks ticked higher Four banks gained more than 10 per cent each The telecom sector also surged 342 per cent as Grameenphone the countrys largest market-cap listed companys shares price jumped 40 per cent to close at Tk 45690 each The market extended the winning streak riding on heavyweight bank and telecom issues said an analyst at a leading brokerage firm The week featured five trading sessions as usual Of them first session saw marginal correction while last four closed higher Week-on-week DSEX the prime index of the Dhaka Stock Exchange (DSE) jacked up by 9454 points or 155 per cent to finish at 6193 The two other indices -- the DS30 index and the DSE Shariah Index (DSES) - also closed higher at 2244 and 1341 points

Daily News Flash 12th November 2017

28

Both the indices added 4264 points and 1218 points respectively During the week banking pharmaceuticals and telecommunication sector stocks contributed more to keep the market up commented City Bank Capital Resources a merchant bank in its weekly analysis The port city bourse Chittagong Stock Exchange (CSE) also ended higher The CSCX advanced 180 points or 156 per cent to finish at 11618 International Leasing Securities a stockbroker noted that the market observed an upbeat vibe throughout the week riding on the news of soaring of net foreign investment in the capital market in the first 10 months of 2017 compared to the same period of last year Net position of foreign portfolio with the DSE stood at Tk 1623 billion in January-October compared to Tk 80 billion in the same period a year ago However some investors were reshuffling their portfolios after observing the year-end corporate declarations and first quarter earning disclosures the stockbroker added According to EBL Securities The market witnessed an upbeat tune throughout the week riding on regained confidence among the market participants The stockbroker noted that preferable year-end and quarter-end earnings declarations by several companies helped them to remain positive about market The total turnover for the week amounted to Tk 3591 billion on the DSE which was Tk 3027 billion in the week before The daily turnover averaged Tk 718 billion which was nearly 19 per cent higher than the previous weeks average of Tk 605 billion Block trade accounted for 16 per cent of the total weekly turnover where stocks like BATBC Beximco Pharma Shahjalal Islami Bank Square Pharma and Singer Bangladesh dominated the block trade board Banking sector kept its dominance over the turnover chart grabbing 35 per cent of the weeks total transaction followed by engineering with 18 per cent and pharmaceuticals 11 per cent Out of 336 issues traded 207 closed lower 116 ended higher and 13 issues remained unchanged on the DSE trading floor during the week The market capitalisation of the DSE rose 137 per cent as it was Tk 4123 billion on the opening day of the week and it stood at Tk 4179 billion on closing day of the week City Bank topped the weeks turnover chart with 5390 million shares worth Tk 184 billion changing hands followed by IFAD Autos with Tk 121 billion Brac Bank Tk 10 billion LankaBangla Finance Tk 994 million and Dhaka Bank Tk 926 million Reckitt Benckiser was the weeks best performer posting a gain of 1925 per cent while Stylecraft was the weeks worst loser slumping by 3322 per cent A new issue - Oimex Electrode-- made debut last week and soared 1042 per cent from its offer price of Tk 10 in the first trading day on Monday Source httptodaythefinancialexpresscombdstock-corporatestocks-nudge-higher-as-bank-telecom-issues-surge-1510332934date=11-11-2017

BANGLADESH GROWING AS DENIM HUB The growing global demand for fashionable denim wear encouraged both local and foreign entrepreneurs to make fresh investment in Bangladesh participants and organisers of Bangladesh Denim Expo have said Many of the 30 local denim mills are going for expansion while a couple more will come into operation with fresh investment within next two or three years they said Some foreign companies are opening offices or setting up factories in Bangladesh they added The seventh edition of the two-day Bangladesh Denim Expo was held in the city recently with the theme transparency to highlight the need for transparency in the entire denim supply chain

Daily News Flash 12th November 2017

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A total of 65 exhibitors from 12 countries participated in the show while more than 12 thousand visitors from across the world registered online to attend the two-day expo organisers said Talking to the FE on the sidelines of the expo Md Khalid Mosharof assistant general manager at Dekko Group said the group invested Tk 15 million in setting up a new factory of 44 lines at Ashulia that would go for denim item production in June next The main reason is to tap the growing global demand he said Echoing him Syeed Ahmed Chowdhury general manager operation at Square Denim said the company expanded its denim fabric production capacity to 30 million yards from the existing 15 million yards per month mainly to meet the demand He however opined that the expansion is taking place more in garment segments than in fabric production There is no alternative to expansion to sustain the existing business and achieve the $50 billion garment export earnings target by 2021 Sharif Zahir managing director of Ananta Group said stressing the need for positive branding of the sector Meanwhile Landes a German denim accessories maker started production in its new factory at Savar from this month It invested US $05 million We opened the factory in Bangladesh as we think this is the hub for denim business and there is a lot of business prospects here Manfred Slowik chief operating officer of Landes told the FE at his stall at the expo By the end of next year the total workforce in our new plant will be 120 people as we are recruiting new people from existing 30 Mr Slowik said Landes has a target to produce 500 million pieces of leather patches used in denim trousers as accessories in a year at its Savar plant from where such accessories will be supplied to the whole Asian region Many big brands like HampM VF and Walmart are their customers he said Nezahat Boni senior account manager of Orta a Turkish denim maker said her company supplies 30 million metres of denim fabrics in Bangladesh in a year against only 800 meters in 2011 We opened an office in Bangladesh in 2011 as we cannot ignore the importance of this country as a denim hub she said Prosperity Textile a Chinese company opened its office in Dhaka last year said Md Mujibul Hoque the companys Bangladesh Sales Director The company has targeted sale of 100 million yards a year across the globe while it also targets 30-40 per cent of their sales in Bangladesh Bangladesh is now the top denim products supplier to the European Union overtaking China and third largest to the US after China and Mexico industry people said Bangladesh supplies denim products to major global buyers and retailers including levis G-Star Raw HampM Tesco Wrangler Hugo Boss Walmart and Gap Source httptodaythefinancialexpresscombdtrade-marketbangladesh-growing-as-denim-hub-1510332061date=11-11-2017

EXPORTS UP 70PC IN JULY-OCTOBER Countrys export earnings grew by 703 per cent to US$1150 billion during first four months of the current fiscal year (FY 2017-18) according to official data released Thursday The earnings were $1079 billion in the same period (July-October) last FY In October 2017 the exports grew by 642 per cent to $284 billion the Export Promotion Bureau (EPB) data showed The overall exports in the first four months slightly (074 per cent) fell short of the periods target In October however the exports were 628 per cent higher than the months strategic target Readymade garment shipments fetched $943 billion marking 699 per cent growth during the period as compared to $882 billion in the same period of last FY

Daily News Flash 12th November 2017

30

The woven items registered 385 per cent growth in earnings to $445 billion than that of $428 billion in the same period of FY 2016-17 The earnings from knitwear export during the period grew by 995 per cent to $498 billion from $453 billion in the corresponding period of last FY Jute and jute goods exports rose by 1646 per cent to $34501 million from $29626 million in the same period of FY17 The earnings from agriculture products grew by 2022 per cent during the period while home textiles by 2037 per cent The earnings from leather and leather products however fell marginally by 002 per cent to $42844 million during the period than that of $42851 million in the same period last FY The export earnings from frozen food and live fish grew by 1541 per cent to $22691 million from $19661 million of the corresponding period of last fiscal Mahmud Hasan Khan vice president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) said the exports in the first four months of the current fiscal year fell short of the expected growth mainly because of failure in maintaining the lead time and short supply of gas and electricity Terming the knitwears growth satisfactory he said woven items manufacturers have been struggling to cope with the new challenge as buyers were reducing the volume of orders due to failure in meeting the lead time Without efficient port and strong backward linkage industry especially for the woven sub-sector it will be difficult for the sub-sector to bounce back he feared He pointed out that maximum of the woven fabric requirements were being met through imports But it was taking too much time to clear the imported fabrics and additional charges as a result at the Chittagong seaport that was facing unbearable congestion The government should provide necessary policy support to the exporters to establish strong backward linkage industry for the woven sub-sector he added Source httptodaythefinancialexpresscombdfirst-pageexports-up-70pc-in-july-october-1510248870date=10-11-2017

GAS CRISIS HURTING OUTPUT IN INDUSTRIAL BELT Factories in the countrys Tongi-Gazipur industrial belt have been facing acute gas crisis over the past few months following diversion of gas to upstream power plants The crisis has deteriorated further this week albeit some improvements for a few days last week said local industrialists and businessmen According to them if the ongoing gas crisis persists they may be forced to shut down their factories Officials of the Titas Gas Transmission and Distribution Company Limited (TGTDCL) however blamed the Petrobangla for the gas crunch Sources concerned say the industrial belt of Tongi-Gazipur is suffering badly for about four to five months from low pressure of gas coupled with poor electricity voltage -- often resulting in huge volume of industrial wastages and reduction of production efficiency According to the industry insiders a factory in the industrial belt requires 04 PSI (production per square inch) as optimum gas pressure but the pressure at times comes down to as low as 01 PSI these days -- especially during the daytime Gas pressure in the area becomes normal around 10pm11pm and stays for not more than 08 hours until 6am7am an entrepreneur of the industrial belt informed Asked an official of Titas said they are at present getting nearly 250 million cubic meters (MCM) less in recent weeks against their current demand of 1800 MCM gas in Titas franchise The downstream Titas franchise area covers greater Dhaka region which includes Gazipur alongside some other adjoining districts and greater Mymensingh he said

Daily News Flash 12th November 2017

31

A Petrobangla source however cited gas supply on priority basis to a number of upstream projects including power plants as reason behind supply shortage When asked Managing Director of Akij Group Sk Bashir Uddin termed the situation really worrisome According to him two of Akij Group companies situated in the area -- Akij Printing amp Packages Limited and Dhaka Tobacco Industries -- jointly contributed nearly Tk 35 billion (3500 crore) to the national exchequer in the 2016-17 fiscal year But were very much worried about our industrial output this year as production disruption following the twin crises involving gas supply and power supply Both will eventually disrupt our retail business in every phase he quipped This often results in a high rate of industrial wastage and reduction of production efficiency he added Bangladesh Auto Re-rolling Steel Mills amp Association Chairman Manwar Hossain who is also Anwar Group Managing Director echoed the same concern Factories in the industrial belt are now operating at one-third of their capacity which may lead to labour unrest and default of huge sum of bank loans he said Such disruption of production he cautions may even cause sudden shutdown of factories According to him none of the victims in that case will be the wilful defaulters -- they will be the victims of circumstances The businessman who has a steel factory called Anwar Ispat Limited in the industrial belt called for immediate introduction of ECM (electronically controlled meters) to check unabated gas engineering in the area which he deems to be yet another reason for gas supply crunch Titas officials according to him are encouraging co-generation scheme to help address the severe gas crisis But he said co-generation will require stable and smooth gas supply Government should ensure at least 10-15 years of smooth gas supply to encourage co-generation as what he said any industrial investment requires 20 years of payback period TGTDCL Deputy Managing Director Engineer Abdul Wahab Talukdar who is also the Project Director of Sripur-Joydevpur Transmission Pipeline Project said We cannot do anything to address the crisis if there is a lack of adequate gas supply Mentioning that all factories in the industrial belt are like my babies he unequivocally said Titas is not at fault He also admitted that priority-based power plants gas supply being the reason behind the current spell of gas crunch We have already started introducing electronic volumetric corrector (EVC) to stop illegal gas use in the area he said Factories he added should go for co-generation scheme for protecting their own interest Co-generation means utilising and absorbing heat generated from gas generators which Mr Wahab said will save energy A section of the businessmen however called for stopping fertiliser production and distributing the same among people at a subsidised price after importing it to facilitate smooth supply of gas to other industries Even if the government stops fertiliser production and opts for importing it for distribution at a subsidised rate there will only be an insignificant loss compared to the overall losses now being incurred said an industrialist who has more than one factory in the industrial belt Local sources said illegal and unapproved gas connections in various industries in and around the zone are also affecting gas supply badly among other reasons Source httptodaythefinancialexpresscombdfirst-pagegas-crisis-hurting-output-in-industrial-belt-1510249018date=10-11-2017

Daily News Flash 12th November 2017

32

SINGLE PERSON MAY FORM COMPANY A single person may form a commercial firm under a provision of the companies law being updated along with some other major business-stimulating measures Official sources said the government is considering incorporating some new provisions including one allowing individuals to form any company into the updated Companies Act The other provisions are formation of an appellate tribunal to resolve legal matters without wasting much time widespread automation of companies work and submission of annual company reports online Earlier the Ministry of Commerce (MoC) had received some recommendations from the stakeholders on how to update the law they added We got most of the recommendations from the stakeholders We hope we will be able to prepare the draft Companies Act within a month Md Obaidul Azam director trade organisations (DTO) told the FE He said the recommendations the ministry had received so far were being scrutinised before preparing a draft for updating the companies act Earlier different trade bodies had sent their respective recommendations to the MoC for incorporation into the law The MoC will hold a meeting with the countrys apex trade body after assessing the recommendations and suggestions the ministry official said Talking to the FE a leader of an influential trade body said they had sent some recommendationssuggestions to the MoC for the new Companies Act for betterment of the countrys trade and business According to Section 2 (1) (c) of the Companies Act 1994 Company means a company formed and registered under this Act or an existing company Thus a company is an association of persons formed under the Companies Act 1994 with a view to achieving some common objectives Though a company is regarded a legal person it possesses similar rights and owes similar obligations like a natural person Now any individual fulfilling the new criteria may be allowed to form a firm Source httptodaythefinancialexpresscombdfirst-pagesingle-person-may-form-company-1510249090date=10-11-2017

DSE TURNOVER CROSSES TK 80 BILLION MARK The daily turnover on Dhaka Stock Exchange (DSE) exceeded the Tk 80 billion mark on Thursday as investors took fresh exposure to the banking sector Turnover a crucial indicator of the market reached Tk 870 billion on the countrys premier bourse jumping 14 per cent from the previous days transaction of Tk 765 billion It was the biggest single-day transaction since October 11 when the turnover totalled a record Tk 1092 billion Along with rising turnover DSEX the prime index of the Dhaka bourse continued to keep its gaining momentum closing 3449 points higher at 6193 points DSEX which replaced the DGEN in nearly five years back added more than 121 points or 20 per cent in the past four consecutive sessions The two other indices -- the DS30 index and the DSE Shariah Index (DSES) -- also followed suit to end at 2244 and 1341 points after gaining 1422 points and 443 points respectively Brokers said the market maintained the bullish trend for the four straight sessions as the enthusiastic investors chased the banking sector stocks The market continued the bullish trend for the four consecutive sessions as the enthusiastic investors were active for the banking food and engineering sector stocks commented EBL Securities a stockbroker in its regular market analysis

Daily News Flash 12th November 2017

33

It noted that the core index remained positive throughout the session as optimistic investors kept buying sector-wise stocks while some rebalanced their portfolios Meanwhile share price of newly listed Oimex Electrode continued to decline for the three consecutive sessions after unusual hike during its debut trading on Monday The companys share price fell 763 per cent to close at Tk 9810 on Thursday after jumping more than tenfold during the debut trading which experts termed unusual Block trade contributed Tk 241 million to the days total turnover with stocks like BATBC Square Pharmaceuticals Singer Bangladesh and Beximco Pharma dominating the block trade board Among the major sectors pharmaceuticals posted the highest gain of 122 per cent followed by banking sector (083 per cent) food amp allied (067 per cent) engineering (033 per cent) financial institutions (003 per cent) and power (003 per cent) Only telecommunication sector faced a 045 per cent correction A total number of 0140 million trades were executed in the days trading session with trading volume totalling 23171 million securities The total market capitalisation of the DSE stood at Tk 4179 billion against Tk 4168 billion in the previous session Losers however took a modest lead over the gainers as out of 325 issues traded 140 closed lower 130 closed higher and 55 remained unchanged on the DSE trading floor City Bank dominated the turnover chart for the second day in a row with 1035 million shares changing hands closely followed by Dhaka Bank LankaBangla Finance Brac Bank and Keya Cosmetics Reckitt Benckiser was also the days best performer posting a gain of 624 per cent while Qasem Drycells was the days biggest loser shedding 1235 per cent The port city bourse Chittagong Stock Exchange (CSE) also ended higher with its Selective Categories Index -- CSCX --gaining more than 62 points to close at 11618 Losers beat gainers as 113 issues closed lower 97 closed higher and 37 remained unchanged on the CSE The port city bourse traded 1604 million shares and mutual fund units generating a turnover of Tk 483 million Source httptodaythefinancialexpresscombdstock-corporatedse-turnover-crosses-tk-80-billion-mark-1510245247date=10-11-2017

TEN COS GRAB 32PC TURNOVER ON DSE The banking sector continued to dominate the transaction chart of the Dhaka Stock Exchange (DSE) accounting for 39 per cent of the total turnover on Thursday Four banks made their way to the top 10 turnover chart with City Bank leading the chart for the second day in a row Brokers said the investors chased the banking sector issues as more than 63 per cent of listed banks showed positive earnings in the third quarter (July-September period) Meanwhile top 10 traded companies including four banks grabbed more than 32 per cent of turnover on the Dhaka bourse The total turnover on the premier bourse reached Tk 870 billion up 14 per cent from the previous days Tk 765 billion The most active shares in terms of value included City Bank Dhaka Bank LankaBangla Finance Brac Bank Keya Cosmetics Square Pharmaceuticals Beximco Pharmaceuticals IFAD Autos Exim Bank and IDLC Finance According to statistics available with the DSE about 1035 million shares of City Bank were traded generating a turnover of Tk 553 million or 635 per cent of the total transactions

Daily News Flash 12th November 2017

34

The companys share price hovered between Tk 5240 and Tk 5440 before closing at Tk 5390 advancing 228 per cent over the previous session Dhaka Bank came in next with shares of Tk 395 million changing hands contributing 454 per cent to the total turnover The banks share price closed 347 per cent higher at Tk 2380 LankaBangla notched the third spot with shares of Tk 266 million changing hands making up 305 per cent of the total turnover Its share price ended 063 per cent higher at Tk 6430 Brac Bank emerged the fourth with shares of Tk 257 million changing hands grabbing 295 per cent of the total turnover The banks share price settled 123 per cent higher at Tk 107 Keya Cosmetics featured a turnover of Tk 247 million or 284 per cent of the total turnover Its share price closed 201 per cent higher at Tk 1520 The turnover of Square Pharma was Tk 241 million or 276 per cent of the total transaction Its share price ended 612 per cent down at Tk 27890 Beximco Pharma featured a turnover of Tk 211 million or 242 per cent of the total turnover Its share price advanced 428 per cent to close at Tk 10960 The turnover of IFAD was Tk 208 million accounting for 238 per cent of the total turnover Its share price closed at Tk 14070 gaining 195 per cent Exim Bank featured a turnover of Tk 196 million or 225 per cent of the total transaction The banks share price inched up 055 per cent to close at Tk 1830 IDLC also made its way to the top ten turnover chart with shares of Tk 188 million changing hands Its share price closed 223 per cent higher at Tk 9150 Source httptodaythefinancialexpresscombdstock-corporateten-cos-grab-32pc-turnover-on-dse-1510245290date=10-11-2017

FOREIGN INVESTMENT HIKE INFO DRIVES MODERATE GAINS ON DSE The Dhaka bourse Thursday closed the session posting a moderate rise in the broad index and turnover amid mixed performance displayed by major sectors On the day most of the major sectors declined but the turnover crossed Tk 80 billion-mark after two sessions on Dhaka Stock Exchange (DSE) mainly because of investors increased participation in the banking sector According to a market review of International Leasing Securities positive momentum in some big-cap stocks especially from bank food and engineering sectors helped the bourse to close in green The market started the session with a positive note and the DSE broad index DSEX witnessed little ups and downs before closing higher According to AT Capital Partners the market remained sideways till the midsession The DSEX rose again in the second half of the session and closed at 61936 up by 345 points The shariah based index DSES and blue chip index DS30 also rose marginally The turnover stood at above Tk 870 billion which was 1370 per cent higher than the turnover of the previous session The confident drive was initiated by the investors buying spree riding on the news of doubling net foreign investment in stocks year-on-year in the first ten months of 2017 said the International Leasing SecuritiesAmong the gaining sectors bank advanced 08 per cent and engineering 03 per cent Of the losing sectors pharmaceuticals amp chemicals declined 11 per cent telecommunication 05 per cent and textiles 09 per cent The banking sector grabbed 384 per cent of the market turnover at the premier bourse DSECity Bank topped the turnover chart with a value of Tk 553 million followed by Dhaka Bank LankaBangla Finance BRAC Bank and Keya CosmeticsReckitt Benckiser (Bd) limited topped the gainers chart with a rise of 624 per cent to close at Tk 18456 while Quasem Drycells was the worst loser after declining 1235 per cent to close at Tk 8230 Source httptodaythefinancialexpresscombdstock-corporateforeign-investment-hike-info-drives-moderate-gains-on-dse-1510245365date=10-11-2017

Daily News Flash 12th November 2017

35

MORE JAPANESE COMPANIES SEEK TO INVEST IN BANGLADESH Japanese Ambassador to Bangladesh Hiroyasu Izumi has said the Japanese investors are keen to invest in Bangladesh considering the lucrative offer and ideal atmosphere for foreign investment reports BSS The Japanese investors expressed more interest to invest in Bangladesh at recently-held the third round of Public-Private Economic Dialogue between Bangladesh and Japan he said while visiting the Chittagong Export Processing Zone (CEPZ) on Thursday The envoy expressed the hopes that Japanese investment in the Export Processing Zones (EPZs) will increase after the successful dialogue said a press release More and more Japanese companies will come to invest in this country he added General Manager of CEPZ Khorshid Alam maed a PowerPoint presentation highlighting the overall scenario of EPZ as well as Bangladesh Export Processing Zone Authority (BEPZA) Mentioning Bangladesh EPZs as the Bonanza for Investors he said investors from 38 countries have set up industries in the EPZs and invested US $442 billion He informed the ambassador that BEPZA has ensured three layer security system including 24-hour CCTV surveillance in the key points of EPZ and factory premises for the safety of the investors Source httptodaythefinancialexpresscombdtrade-marketmore-japanese-companies-seek-to-invest-in-bangladesh-1510250285date=10-11-2017

Source httpwwwarthosuchakcomarchives388209

১৬০

১১৫ ৪ ৫ ১০ ২০

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( )

৩০ ২০১৭ ১৫

৩ ও ১২

২ ১৪ ( ) ৩৪

২৪

Source httpwwwarthosuchakcomarchives388257

Daily News Flash 12th November 2017

36

৫৩ ( ) ১৫ ও ২

১ ১ ৪৩ ২১০ ৫৩ ৪৪

৩২ ৫০

৮ ৫৮

২০

১ ২৪

৯ ২৭ ৫৫৫ ৯ ৩৮

-

Source httpwwwarthosuchakcomarchives388125

৩৫ ( ) ৩৫

২৪৫ ৩

১৭ ১১৯ ২১

ও - ১১

৯ ৬ - ৫ ৪

- ও ২

ও ১

Source httpwwwarthosuchakcomarchives388085

- ফ ৪০ ও - ৪০

৬ ( ) ৫ ৯ ৫ ৪৯২ ১১

৫৬ ৪৫১ ২৯

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( )

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( ও) ৮০

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৩০ ২০১৬ ৩৫ ৬৩

৫ ( ) ৩ ৪৯

Daily News Flash 12th November 2017

37

Source httpwwwarthosuchakcomarchives387762

lsquo rsquo

( )

lsquo - rsquo

( ) ও

২০০২ ( ২ )

৫৪৬

ও ১৫

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১০-১২ ১

১৫৫ ৬৭

ও ২০১০

ও ও ও -

ঋ ঋ

১৫ ৪ ৩

২ ২ ৪ ১৫ ৬

( )

Source httpwwwarthosuchakcomarchives388276

- ও ও

Daily News Flash 12th November 2017

38

৩৮ ও ৪৩

১০০ ৬১ ৫৮ ২২৫ ১ ০৫

Source httpwwwarthosuchakcomarchives387849

- ও ( -২)

৬ ও

ও ৫ ৩০০

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( ও )

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ও ও ও

ও ২০১১- ও

ও ( )

Daily News Flash 12th November 2017

39

(১০ ) ৫ ৭৬৩

৬৩ ও

ও ( )

- ২০১৪ ও

ও ও

Source httpwwwprothom-alocomeconomyarticle1362971

ও ও

ও - ও

২০১৬-১৭ ২০ ও

ও ও lsquo rsquo

ও ১০ ও

৭৭ ২০১৭

১৬ ২৭ ও

২০১৬-২০১৭ ২০ lsquo rsquo

ও-

ও ও ও

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564382

ফ ( ও) ১১

ও ও

ও lsquo১১ ও rsquo

১০ ১৩

( ) ( )

Daily News Flash 12th November 2017

40

- ও

-

( )

( )

lsquo ও

rsquo ও

২৬ ১০

১৬

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564383

১ ৫০

ও ২০৫০

২৩

১৬ ৫৯ ২০১১

২০৩০

( )

ঋ ও ও

৬৮ ৬৭

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564384

ফ lsquo

ও ও

( ) ও

- ও

( ও ) ( )

Daily News Flash 12th November 2017

41

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564388

৪৫ ও

৮৪ ৮৩

৯২০

২৭ ২৪ ৭ ৩

৬ ৮৯

৯ ১ ৭২ ১৪ ৪৮

৪৫

ও ১৭ ৫০

১৯৩ ১০ ২০১৫-১৬ ৪১৩ ১০ ও ও

২০১৪-১৫ ৩৭৫ ৮০ ৩৫ ৭০

২০১৩-১৪ ৫১৫ ও

৮১ ২ ৫১ ৩ ২০

২ ও

৮৪

৮১

- ও

৮৩

৮২ ৯৫

ও ও - ও

ও ও ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17112200 - - - -

ও ৫০

ও ( ) ( )

ও ও

Daily News Flash 12th November 2017

42

ও ও

১০০

৮ ও

৩০০ ( )

ও ১৫০

২০০ ১০০

২০০

২৭ ৭

ও ও

ও ৩০ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111811 - - - -

-

২৭ ১১

১০

( ) ২৮৪

৬ ২৮ ৭ ১৫১

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ও - ও

ও - ও

ও ৩

৭ ১ ২৩

৯৪৪ ৮৮২ ১০

ও ৪ ৭ ও

৪ ৩৮ ও ১৫ ৪১ ২২ ৭০

২০ ৩৬ ১৩ ও

৪৬ ২২ ২০ ও

১৭ ৩৭১ ও ও

১৭ ও ৪৩ ও

Daily News Flash 12th November 2017

43

৬ ২০ ও ১৬

৩৫ ২০ ২৭

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111810 - - - - -

ও ও

১৩০ ও ১৪০

৫৫ ও ৯৭ ১১৩

৩৭

৩৪

৬১৯৩ ৬২ ১১৬১৭

৩০ ১৯

ও ও

ও - ও

৪৮ ৩১

১২ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111808 - - - - -

৩৫ ও ১০

ও ( ) ও

১০

ও ও -

২ ৩০০

২০১৪ ও

ও ৭ ২০১৪ ও ২০১৫

৫ ৭ ও ১২ ৮ ২৩

২০১৩ ১ ৪২০ ২০১৪ ১০ ৫ ১ ৫৭০

১৩ ৪ ও ১ ৩৫৮ ১০

২০১৬ ও ৩ ৫ ১ ৩১০ ২০১৪

২০১৬ mdash ২ ১ ঋ

১০ ও ২০১৩

২৯ ৮০ ২০১৪ ৫ ৭ ৩১ ৫০ ২০১৫

১২ ৩৫ ৩০ ২০১৬ ৭ ৩৭ ৮০

Daily News Flash 12th November 2017

44

২০১৪ ২০১৬

৩২ ৩৫ ও ৫০ ১৯

৫৬

১৭ ৪৬ ২০১৪ ২০১৬

৭২ ১০০ ও ১১১

২০১৪ ২০১৬ ১৫ ৬৩

৯১ ১১৪ ও ১১৮ ৮ ২৩

৮০ ৯০ ও

ও -

ও -

ও ও ও

১০ ও

১০ ও ২২

৭১ ১২ ৪২

৩২ ২৬ ও

ও ও

( ) ও

ও ২০২১ ও ও

৫ ১ ১৬

ও ও

Source httpbonikbartanetbanglanews2017-11-12137992 - - -- -

৫০০ ৫০০ ও

ও ৩০ ২০১৭

৫০০ ও ঋ ২০১৮

৩০

১ ২০ ও ১৫০

১১

Daily News Flash 12th November 2017

45

৩০০ ৬০০

( ) ও

১ ২৫ ও ১০

১০ ও

ঋ ও

৩০ ২০১৭ ৩ ও ১২ ও

( ) ২ ১৪ ২ ১

ও ৩০ ১১

( ) ও ও

( - ) ৬৬ ৫৫ ৩০

( ) ৩৪ ৯০

ও ও ও

( ) ও

ও ও ২০১৫ ৩০ ১০ ২০১৬

১২

( ) ৪১ ২০ ও ২৩ ৬০

৫০ ও

২০১৪ ৩০০ ও ১৪৮ ৪৬ ৫০

১৯১ ৬২ ৩৭ ৩১

১২ ৪৫ ৫০ ২৪

ও ( ) ১৬ ৫৩

ও ১৫ ২২

Source httpbonikbartanetbanglanews2017-11-12137966৫০০- - - - -ও -

৬৩

- ও ও

৬২ ৯৪ ৫

৬২

৯০

২০১৪ - -

- ও

২০১৬-১৭ ৫ ৬২ ও ২০১৩-১৪

১২

( ) ৯০

-

ও - - ও -

Daily News Flash 12th November 2017

46

- ও

৬২ ৯৪

২০১৩-১৪ ৭০ ৭৮ ২০১৪-১৫ ৫৪ ২২

২০১৫-১৬ ৩৯ ৩৩ ও ২৬ ২৩

ও ২০১৩-১৪

১২ ৩৬ ২০১৪-১৫ ৫ ৯১ ও ২০১৫-

১৬ ১৭ ৩০ ৫ ৬২

৩০ ২০১৭ ১০

২ ৮৬ ও ৩

ও ২৪ ( )

২৭

১৯৬৪ ১২

৪ ও ও ১৯৭২

ও ( )

ও ৩৪ ৮ ও

৯০

৪৫ ও ৫

১৯৬৪ ১৯৭২ ১৯৮৯

১০০ ও ২৬ ১৬ ২০ ৫৪৩ ৭৭

৫ - ৫১ ১৫ ৬০ ও

৩২ ৯০

Source httpbonikbartanetbanglanews2017-11-11137853 - - - - - -৬৩---

( ) ও

১০

ও ও ও

-

ও ও

ও ঋ ও

ও ২০১৪ ও

ও ও

২০১৩

( ) ও

Daily News Flash 12th November 2017

47

২০১৪

২০১৪-১৬ ও

২০১৪

ও ২০১৪

২০১৫ ২৭ lsquo ও rsquo

ও ও

২০১৬ ২৪

( )

ও ও

- ও

ও ও ১৯৮৩ ২০১৬

ঋ ( ) ৫৬০

৮৬৪

২০১৬ ২০১৯ ও

ও ১৫ ২৫ ৩০ ও ৩০

ও ঋ ও

২০১৬ ঋ ১

৩৪২ ঋ ৬ ৫২ ১২৩

ঋ ২ ৪৪৩ ঋ ১০

৮৪ ঋ ৪০

৭২৬

ও ২০১৬ ৭৪১

৪৫৭

২০৭ ২৪৪

১০ ও

ও ও ও ও ও

Daily News Flash 12th November 2017

48

Source httpbonikbartanetbanglanews2017-11-12137998 - - - - - ও- -

( )

৩০ ২০১৭ ২০

( ) ২ ১ ১ ৫৯ (

) ৩০ ( ) ১৫ ৩৭

ও ২৮ ১১

( ) ২৮

২০১৬ ৩০ ১৮ ২০

২০১৪ ও ২০

১৫ ৩০

১৮ ৮০ ও ৯ ৬০

Source httpbonikbartanetbanglanews2017-11-11137850 - - - -

ফ ৭ ২০১৭-১৮ ৭ ৩ ৭৪

( ) ও

( - ) ১ ১৫০ ৫৮

(২০১৬-১৭) ১ ৭৫ ৩ ৬০ ৭

৩ ১ ১৫৯ ২০ ৭৪

ও mdash

৬ ৬৫ ১৭ ৬৩

mdash ও ও

১৫ ৪১ ২২ ৬৯ ১০

১৯ ৬৬ ১০ ২০ ২২

mdash ও ও ও

৩৯ ৫১ ও ২ ও

১৬ ৪৬ ও ও ৬ ৯৯ ও

৩ ৮৫ ৯ ৯৫

১৯ ৮২

৮০

ও ( )

mdash

Daily News Flash 12th November 2017

49

ও ও

Source httpbonikbartanetbanglanews2017-11-10137755 - - - -৭- - --

ফ - ফ ও -ও

-ও

-ও

২৯-১০-২০১১ ৩ ( ) ২৮-১০-২০১৪

৩ ( ) ২৮-১১-২০১৬

২৮-১০-২০১৭ ৩ ( )

২০১৬-১৫৮১৩৪ ৪৪ ০৭-০৮-

২০১২ ১২(৬) ২ ( ) ৬ ( )

-ও - ও ২ ( )

৬ ( ) ও ও

-ও ৩ ( )

-

ও ও

১৯৯৪

২ ২২-০৫-২০১২ -ও ৩

- -

১৯৯৪

-ও

- ও

( )

১৯৯৪

১৯৯৪ -ও

Source httpwwwsharenews24comindexphppage=detailsampnc=1ampnews_id=6587

Daily News Flash 12th November 2017

50

ফ ফ

১৫ ও

-( ) ও

৪৯

১৬ ৮৫

৫১ ৪৯

৪ ৩৬

১৯১৩

১০০ ও ১৯০১ ১৯৬০

Source httpswwwdailystockbangladeshcom - - - -

- ( -১)

( ) ৮

৩০০ ও

( ) ১৬

- ২২৮ ৪৯ ১৮৩ ২০১৮

( ) ও

১৫০

( ) ও ৪০ ৩০

ও ও

ও ও

Source httpswwwdailystockbangladeshcom - - -

Page 4: Daily News Flash, 12th November, 2017 -  · PDF filebanglalink's revenue falls 4.57pc in q3 ... banks lack remedial strategy while npl rises worryingly

Daily News Flash 12th November 2017

4

ldquoOur journey started 45 years ago with humanitarian assistancerdquo The ambassador said the two countries established deep political cultural and economic relations slowly and steadily Holenstein an author of a number of books said the economic relations between the two countries in general has developed positively over the last few years ldquoOur trade has more than doubled since 2010 Major Swiss companies are currently present in Bangladesh This is very encouraging Its also encouraging to see more and more SMEs are coming to Bangladeshrdquo Asked about Swiss investment in Bangladesh he said they saw a 17-percent rise in investment last year The trade volume stood at $600 million last year with a year-on-year 16 percent growth he said ldquoIm fully aware that our trade relations are not yet at optimum level We can contribute much morerdquo He said Switzerland can promote innovative technologies particularly green technologies and this will be a contribution to Bangladeshs development Responding to a question on investment climate he said ldquoYes Ive heard some concerns However Im impressed while talking to businesspeople especially representatives of Swiss companies about their positive experiences Many people are optimistic about economic opportunities in Bangladeshrdquo ldquoOf course therere some issues that require further improvementrdquo Holenstein said mentioning infrastructure and administrative procedures The ambassador however expressed satisfaction over the security measures taken for the foreigners and foreign investors in the country Holenstein emphasised skills development improving local governance and ensuring a safe migration system in Bangladesh with assurance of providing Swiss support in these areas About the next national election in Bangladesh Holenstein said ldquoAs a friend of Bangladesh I hope the election will be fair transparent and inclusiverdquo He said a favourable and safe condition is needed to be in place so that everybody takes part in the election ldquoThe election commission has been doing a lot of consultations with political parties civil society and private sectors We welcome this inclusive approachrdquo About the Rohingya crisis he said ldquoWere very much concerned about the humanitarian situationrdquo Holenstein who has visited the Rohingya camps twice since his arrival in Dhaka praised Bangladesh government for its generosity and accepting so many people ldquoPeoples solidarity is also something extraordinaryrdquo The Swiss ambassador said the main goal is to make sure that these people can return safely and with dignity and voluntarily ldquoWe havent yet achieved that goal Well continue our efforts Were absolutely beside Bangladeshrdquo Given the extent of this humanitarian crisis Switzerland has decided to increase its financial contribution to 8 million Swiss Franc Almost 18 million foreign nationals live in Switzerland which is 243 percent of the total population The ambassador said Switzerland has always been an immigration-friendly country and many international organisations are there where foreigners are working With more than 613000 Rohingyas now in Bangladesh international agencies and partners are working on several fronts to support and protect them to avoid second wave of disaster ndash the outbreak of various diseases Holenstein who speaks German French Spanish English and Russian said he is a great fan of rock music

Daily News Flash 12th November 2017

5

ldquoI love music particularly rock music I love Bangladeshi music toordquo he said appreciating the performance of Bangladeshi band Chirkut ldquoI loved that kind of music I used to play drums I can singrdquo He said he is impressed by the eagerness of Bangladeshi people to learn innovate and try new things Source httpwwwthedailystarnetbusinessswitzerland-improving-investment-climate-bangladesh-1489993

TAKING BANGLADESHS SUCCESS STORY TO THE WORLD Before moving to Bangladesh in May among the known business challenges I was well aware of the opportunities and the positive energy for which Grameenphone is legendary in the Telenor Group I was not sure of what we would find in Bangladesh as a country but it has been an incredible experience so far Sure there are issues to be addressed problems to be solved but that is the truth for any market In my view the glass is far more than half full the opportunities far outweigh the challenges The country is experiencing stable macroeconomic indicators over the last 7 or 8 years with a growing middle-class a strong impetus to create economic zones new infrastructure and a couple of very large bridges to change the flow of traffic in the country Bangladesh is a fantastic opportunity for investors And there needs to be a concerted effort from the business community to recapture the narrative about what it means to operate here As a major player in the economy and a company listed on the Dhaka Stock Market Grameenphone too has a role to play in promoting and investing in South Asia -- and Bangladesh in particular More pertinently Grameenphone is a great example of a Bangladeshi business success story In the last 20 years mobile communications have greatly accelerated change in our culture Everybody who gets a phone here gets access to information communication security and education among other things Unarguably mobile is a big equaliser It brings education where education did not exist before it brings trade where trade is difficult it brings access to information and the democratisation of information where it was not available before It even brings avenues of entertainment into peoples lives As the largest operator in Bangladesh Grameenphone has a profound responsibility to be sustainable and profitable and to invest in the society that it serves with a view to bringing about progress and respectful socioeconomic change I strongly feel that one of Grameenphones key objectives is to make the Bangladesh economy more digital and more competitive The importance of 4G for the dream of a digital Bangladesh cannot be understated But in order to realise the true experience much more spectrum should be made available at affordable prices Grameenphones number one chosen role is to allow Bangladesh to continue to be an international competitor and to grow as well as diversify its exports There is incredible entrepreneurial and business talent in this market Their desire to build a better Bangladesh is matched to our desire to facilitate the same by providing services and infrastructure that make a difference Grameenphone is challenging the existing business models in order to provide customers the best tools allowing them to act on their environment interact with each other and transact in the marketplace Enabling these moments where customers act interact and transact is at the very core of the growth opportunity for mobile operators globally and Bangladesh is no different This does not mean we do everything It means that we enable economic growth and digitalisation We create opportunities for others to use networks to build a digital economy that creates value for our customers and grows our own business

Daily News Flash 12th November 2017

6

In addition to providing telecom services the way we do things makes a difference The way we apply our sense of ethics the way we apply our governance the way we apply our code of conduct or our way of work are humble examples of how business can be done We believe these are important contributors to the society that we serve As a corporate citizen of Bangladesh it is on us to contribute to the fabric of the nation We think there is an opportunity for Grameenphone as part of the greater business community to recapture the narrative and play a more active role in promoting the country for foreign investment to stop worrying about things that are going wrong and think about things that are going right With all due respect to our politicians who are expected to extol the virtues of investing in this market when business leaders and foreign investors carry the message that this is a great place to invest it builds greater credibility Grameenphone understands this and we carry and will continue to carry that message everywhere we go I think that as we head into 2018 and beyond there is huge potential still to grow the market and the business Bangladesh is investment-ready and investment-worthy Source httpwwwthedailystarnetbusinesstaking-bangladeshs-success-story-the-world-1489999

NBR PLANS TO LOWER FLAT REGISTRATION COST The tax administrator plans to reduce the flat registration cost and ease the complexities related to value added tax to give a boost to the real estate sector The National Board of Revenue is also finding ways to lessen the pressure on the realtors at the time of enforcing the new VAT law in July 2019 said Md Nojibur Rahman chairman of NBR Rahman spoke in a meeting with the leaders of the Real Estate and Housing Association of Bangladesh (REHAB) at Hotel Purbani in Dhaka yesterday At the meeting the realtors proposed NBR reduce the flat registration cost to 65 percent from the existing 155 percent The government should introduce a secondary market to change the ownership of flats like the market for used cards said Alamgir Shamsul Alamin president of REHAB There should be no registration fee for secondhand or used flats he said The ownership of such flats should be changed hands with only 3 percent tax like the used cars Alamin said He said the registration cost is the highest in Bangladesh among the Saarc countries The NBR is now giving emphasis on the housing sector to remove the barriers the realtors have long been facing at the time of selling flats he said Currently buyers have to spend 155 percent of a flats cost for registration which includes 4 percent gain tax 3 percent stamp fee 2 percent registration fee 2 percent local government fee and 45 percent VAT Flat sales have decreased by 60 percent in recent times due to high registration costs while the rate of launching new projects has declined by 75 percent Alamin said The association also proposed a cut in the existing 35 percent corporate tax for developer companies to help them raise their paid-up capital he said The REHAB has recently increased the paid-up capital ceiling to Tk 1 crore from Tk 10 lakh for a developer to get a membership of the association Alamin said The higher paid-up capital will increase investment in the sector he said The finance minister has asked the revenue authority to work on how to reduce the flat registration cost said Jahangir Hossain a member of the NBR A panel has also been formed to work on it he said Currently REHAB members are building around 15000 to 17000 flats every year according to the organisation

Daily News Flash 12th November 2017

7

Source httpwwwthedailystarnetbusinessnbr-plans-lower-flat-registration-cost-1489987

SOCIAL BUSINESS IS OUR FUTURE Les Canaux a historic building in Paris has officially begun its journey as Social Business House in order to promote social business and the social economy in the French capital Mayor Ann Hidalgo and Nobel Laureate Prof Muhammad Yunus together launched the social business house on Thursday Yunus Centre in Dhaka said in a statement yesterday Last year the mayor announced that the historic building will be dedicated to become the home of social business and the social economy for Paris Built in 1882 the building served as the administrative office of the Canals of Paris It is located on the 19th district of Paris which is a very vibrant neighbourhood attractive to young people Nicolas Hulot deputy prime minister of France and environment minister attended the launching ceremony as the chief guest A group of dignitaries was given a guided tour of the facilities of the social business house The house has been refurbished where all its decor carpets furniture and fittings are made from recycled materials notably ocean plastic waste paper and waste wood Yunus Centre Paris also located in the same building was also opened Yunus Centre Paris is now a registered legal entity in the city Speaking on the occasion Mayor Hidalgo said she is committed to social business and she wants to make Paris as the social business capital of the world and turn Paris as the social business city The mayor emphasised that social business is the future of the world ldquoIt is the future of humanity and it is the future of the planetrdquo She said that the present system is not sustainable Hulot highlighted that social business and the work that Les Canaux has set for itself is the most powerful way to move forward Prof Yunus said social business is like a bug a friendly bug that infects everyone who comes into contact with it because selflessness exists in every individual Source httpwwwthedailystarnetbusinesssocial-business-our-future-1489984

BANGLALINKS REVENUE FALLS 457PC IN Q3 Banglalinks revenue in the third quarter of the year declined 457 percent to Tk 1170 crore -- the lowest in nine quarters -- due to stiff competition and the growing tendency among subscribers to use multiple connections But it was not disclosed if the operator made any profit during the quarter in the financial report released by its parent company Veon on Thursday Banglalinks data revenue rose 28 percent to Tk 170 crore in the third quarter of the year on the back of acceleration of active data customer growth of 171 percent year-on-year Customer per data usage more than doubled to 523 megabytes a month Fuelled by aggressive customer acquisition campaigns Bangla-links subscriber base widened 84 percent year-on-year in the quarter taking the total tally to 314 crore and reversing the negative trend of the previous quarter Banglalinks gross income decreased and customer base shrank meaning its average revenue per user declined 86 percent year-on-year to Tk 121 The operator lost 38 lakh connections during last years SIM re-verification process As a result its earnings dropped said a senior official of the operator The report also said Banglalink is exploring alternatives to improve its capital structure ahead of 4G spectrum auction likely to take place in the first half next year as the operator would have to spend heavily to buy spectrum and roll out 4G service

Daily News Flash 12th November 2017

8

Veon a multinational telecom company headquartered in Amsterdam said it is evaluating all options to improve Banglalinks capital structures ldquoThe proceeds from any such activity may be used for refinancing of existing debt and general corporate purposes (including capital expenditures)rdquo said the financial statement without giving any specifics Jean-Yves Charlier chief executive officer of Veon had told reporters in Dhaka in July that Banglalink is ready to sell all of its 9000 towers to third parties in order to pool resources to invest to improve network quality The intention was made clear after Bangladesh Telecommunication Regulatory Commission decided to award three licences to manage mobile towers and separate telecom business from operators network infrastructure Banglalink is keen to invest $1 billion over the next three years to improve its service quality as well as support the governments Digital Bangladesh vision Since inception the countrys third largest mobile operator by subscriber base has invested over $251 billion in Bangladesh and contributed $24 billion to the national exchequer The operators 3G coverage reached 70 percent population Source httpwwwthedailystarnetbusinessbanglalinks-revenue-falls-457pc-q3-1489996

FORTY LOCAL COMPANIES TO ATTEND TEXWORLD PARIS Forty Bangladeshi textile and garment companies will participate at Texworld Paris on February 11-14 next year Noman Group has been chosen as an elite exhibitor and given space in the premium area of the show said a statement from Messe Frankfurt the organising company Companies from other countries such as India Pakistan China Myanmar Nepal and Cambodia will also take part ldquoWith such a wide range of countries the show is the most important event for sourcing apparel items Buyers come to the show expecting a wide variety of prices and qualityrdquo the statement said Texworld Paris hosts more than 1000 exhibitors and offers a rich variety of products to professional buyers from all over the world It is particularly the best place to meet buyers from all over Europe including the UK the Netherlands Germany and Turkey The Export Promotion Bureau (EPB) of Bangladesh will take part in the show with a limited number of booths The EPB is providing discounts with a garment booth costing Tk 300000 and a fabric booth Tk 475000 French designer Eymeric Francois along with Texworld consultants Louis Gerin and Gregory Lamaud will organise a Bangladesh Fashion Show in Paris during the event Gerin and Lamaud have been working with Texworld for over 10 years and have been awarded the prestigious Golden Needle Award from ESMOD International Paris Apparel Sourcing Paris the number one European trade fair for worldwide apparel sourcing will also take place at the same time and location Source httpwwwthedailystarnetbusinessforty-local-companies-attend-texworld-paris-1489975

STANCHART TOP OFFICIAL IN TOWN Anna Marrs regional chief executive officer of Standard Chartered Bank for Asean and South Asia has arrived in Dhaka for an official visit During the visit she will meet with some of the banks key stakeholders regulators and clients the bank said in a statement

Daily News Flash 12th November 2017

9

Her visit comes following recent changes in the banks senior management with Naser Ezaz Bijoy being appointed as the CEO of Standard Chartered Bangladesh Bijoy replaced Abrar A Anwar who took charge of the banks operations in Malaysia ldquoAnnas visit reiterates the Groups strong commitment to drive commerce and prosperity in Bangladesh and aid the development of the nations financial sectorrdquo said Bijoy in the statement ldquoAs the oldest financial institution in the country with a heritage of over 112 years and deep local knowledge we remain firmly committed to being a partner in progress to our nationrdquo Marrs is also the CEO of Standard Chartereds commercial and private banking business globally She joined Standard Chartered as group head of strategy and corporate development in January 2012 In her role as the head of strategy Marrs led reviews of the banks businesses globally with notable projects focusing on Nigeria China and India Prior to joining Standard Chartered Marrs was a partner in McKinsey amp Companys banking practice She started her career at DE Shaw a New York-based investment firm Marrs holds an MBA from London Business School and an undergraduate degree from Northwestern University in Chicago Source httpwwwthedailystarnetbusinessstanchart-top-official-town-1489969

EXPORTS SPRING BACK

Exports bounced back in the month of October fetching $284 billion on the back of higher shipments of apparel products ldquoYes garment export is rebounding after a slowdown over the last few monthsrdquo said Siddiqur Rahman president of the Bangladesh Garment Manufacturers and Exporters Association Garment shipments which typically fetch 82 percent of the export earnings brought home $229 billion last month up 4136 percent from the previous month and 602 percent from a year earlier ldquoI hope garment shipments will only increase from here onwards as the peak season is coming uprdquo he added Octobers receipts are higher than the previous months by 399 percent and the previous years by 637 percent according to data from the Export Promotion Bureau The amount which beat the target of $268 billion set by the commerce ministry for the month takes the tally so far in the fiscal year to $1151 billion In the first four months of fiscal 2017-18 leather and leather goods shipment the second largest export earning sector after garment declined slightly It raked in $42844 million down 002 percent from a year earlier But jute and jute goods the next big export earner saw its receipts soar 1646 percent to $34501 million during the period The sectors prospects on the global stage brightened after the long-delayed diversification of the product range and the higher demand for Bangladeshi made jute yarn for carpets and rug manufacturing in Turkey and some Middle-eastern destinations according to industry people Moreover jute exports to Japan and Russia are increasing due to higher demand of natural fibre-

Daily News Flash 12th November 2017

10

made products there exporters said Home textile exports increased 2037 percent year-on-year to $26079 million while the shipment of agricultural products like vegetable fruits spices cut flowers grew 2022 percent to $20321 million Frozen fish live fish and shrimp export increased 1541 percent to $22691 million which is 3721 percent higher than the target for the period Shrimp exporters said they have been receiving better prices from buyers as the demand for the black tiger variety of shrimp increased in the western world Last year shrimp exporters received $550 to $650 for a pound of shrimp but this year they are receiving between $750 and $8 according to exporters Pharmaceuticals exports grew 1731 percent year-on-year to $3219 million and furniture exports 1881 percent to $1415 million Source httpwwwthedailystarnetbusinessexports-spring-back-1489108

EXPORTERS SEEK LONG-TERM TAX ENERGY POLICIES Exporters yesterday demanded long-term and stable tax and energy polices such that they can make their future investment plans accordingly ldquoWe need a long-term roadmap from the government on taxes and energy prices and supplyrdquo said Fazlul Hoque former president of Bangladesh Knitwear Manufacturers and Exporters Association Every year before the budget the National Board of Revenue increases the source tax on export receipts only to bring it down later following requests from businessmen or under political pressure he said For instance the government has been importing liquefied petroleum gas for supplying to the industrial units But it is not clear yet how and when the gas would be supplied to the industrial units he said ldquoHowever it is very simple to fix the rate for the long term so that the businessmen can predict their expenditure and plan for futurerdquo Hoque said at a roundtable on the export potential of Bangladesh Bangla daily the Prothom Alo and banking giant HSBC jointly organised the discussion at the newspapers office in Dhaka where a minister exporters bankers manufacturers and entrepreneurs spoke Siddiqur Rahman president of Bangladesh Garment Manufacturers and Exporters Association echoed Hoques views He also complained about the poor state of the premier Chittagong port and airport in Dhaka Not only the sea port and airport the poor state of the Dhaka-Ashulia highway is also responsible for the bad transportation system The truckers demand higher fares because of the rundown roads between Dhaka and Ashulia-Savar he said Subsequently he called for the highways to be expanded into six lanes as hundreds of garment factories are located on both sides of the road David Hasanat chairman and chief executive officer of Viyellatex Group a leading garment exporter said the garment sectors success stories should be spoken of more ldquoWe should also continue with the PR initiative to carve out a positive picture of the countrys successful garment sectorrdquo he added The exporters of Bangladesh are responsible for not only driving economic growth but also for establishing the Bangladesh brand across the world said Francois De Maricourt chief executive officer of HSBC Bangladesh Muhammad Shohiduzzaman country head of global trade and receivables finance of HSBC Bangladesh said the popularity of export through open accounts system has increased worldwide due to simplicity of the process Bangladesh can also adopt it instead of the time-consuming and traditional letters of credit system he said

Daily News Flash 12th November 2017

11

Saiful Islam president of Leathergoods and Footwear Manufacturers and Exporters Association of Bangladesh (LFMEAB) said the condition of the customs department at the Chittagong port has worsened Customs officials take a lot of time to scrutinise the imported goods meant for manufacturing in the factories Islam said adding that the Chittagong port should have a contingency plan to avoid any kind of sudden deterioration in the system Abu Taher former chairman of the LFMEAB said the global market size of leather goods is $240 billion and in a few years time China will be importing another $100 billion worth of leather and leather goods and footwear ldquoSo we have a lot of opportunity to export leather goods worldwide We need export diversificationrdquo Taher said The demand for diversified jute goods like yarn has been increasing worldwide so the scope for jute and jute goods exports is also rising worldwide said Mahmudul Haque managing director of Sadat Jute Industries Limited ldquoWe need the governments support to make the best of this global opportunityrdquo he added MA Mannan state minister for finance and planning said sometimes the governments activities are stopped through filing writ petitions in the court ldquoThis is one of the major reasons for the slow progress of the governments development projectsrdquo he added Abdul Qayyum associate editor of the Prothom Alo moderated the roundtable Source httpwwwthedailystarnetbusinessexporters-seek-long-term-tax-energy-policies-1489123

DOLLAR SUDDENLY BECOMES DEARER

A frequent traveller who often buys foreign currency from an international bank in Dhaka was charged about Tk 86 for a US dollar on Wednesday Just a month ago he bought a dollar for Tk 83 This sudden rise in dollar price might not make much of a difference to individuals who purchase foreign currency in small amounts and infrequently but for importers who have to settle huge bills it is a major blow For instance if the price of a dollar goes up by even Tk 1 the importer has to bear an additional cost of Tk 10 lakh for $1 million Presently the bills for collection sell rate (at which import payments are made) of a dollar hovers around the Tk 83-mark and the rate goes up further for foreign banks that dominate the currency market The situation has forced the Bangladesh Bank to intervene sitting down with the banks and treasury officials twice in the last two weeks other than selling greenbacks Bankers blamed the depreciation of the local currency on the mismatch between demand and supply of the dollar

Daily News Flash 12th November 2017

12

Remittance and exports the two major sources of foreign currency for Bangladesh are in the slow lane while imports have ballooned Yesterday the inter-bank exchange rate of the US dollar stood at Tk 8095 up from Tk 7849 a year earlier The central bank has already sold $126 million to banks this month to halt the depreciating trend of the taka according to a Bangladesh Bank official ldquoBut it is not yielding the desired result as the demand for the US dollar continues to riserdquo From July 1 to November 9 the central bank has sold $440 million to banks In contrast it sold $175 million and purchased $193 billion during the course of fiscal 2016-17 Some banks are now trading the US dollar with each other bypassing the inter-bank exchange rate set by the central bank meaning that they completed the transaction beyond the rate the BB official said The central bank has put a cap on the US dollar at inter-bank exchange rate plus Tk 2 on April 27 in a meeting with the Association of Bankers Bangladesh with a view to keeping the market stable Besides on Monday it warned a number of banks for such unethical practice and asked them to strictly follow the inter-bank rate to settle foreign exchange transactions among them ldquoSome banks had secretly struck up deals between themselvesrdquo said Md Arfan Ali managing director of Bank Asia adding that the banks were forced to settle transactions at the higher rate because of the scarcity of the US dollar Banks usually do not get greenbacks from the central bank which compelled them to settle the deal avoiding the inter-bank rate said Syed Mahbubur Rahman managing director of Dhaka Bank Subsequently he urged the government to take initiatives to increase export earnings and remittances to ensure steady supply of the US dollar ldquoThe current account balance posted a huge deficit in the first quarter of the fiscal year This reflects the existing foreign currency shortagerdquo he added Between the months of July and September the current account deficit stood at $179 billion in contrast to $539 million in the surplus a year earlier according to data from the central bank During the period the trade deficit widened to $365 billion from $156 billion a year earlier Source httpwwwthedailystarnetbusinessdollar-suddenly-becomes-dearer-1489096

POLICY SUPPORT NEEDED TO DIVERSIFY EXPORTS ANALYSTS The government should extend its policy support beyond the garment sector in order to diversify exports said experts yesterday ldquoWe will have to give importance to various promising sectors which are apparently not visible like the garment sector to diversify exportsrdquo said Prof Wahiduddin Mahmud an eminent economist He said the government would have to provide subsidies to small sectors mostly manufacturing industries to carry on the existing export growth momentum He was speaking at the Bangladesh Enterprise Institutes stakeholder consultation workshop on ldquoExport Diversification Challenges and Prioritiesrdquo IFIC Bank organised the programme at its headquarters in Dhaka Commerce Minister Tofail Ahmed said Bangladesh would be able to reach its export target of $60 billion by 2021 Prof Mahmud said the manufacturing sector should be focused to make the countrys growth export-led Otherwise it would not be possible to maintain the current share of exports to the GDP after two or three years Salman F Rahman vice-chairman of Beximco Group who chaired the workshop said the government will have to extend the bonded warehouse facilities to all sectors and give cash incentives to small sectors

Daily News Flash 12th November 2017

13

He said the government is cutting various policy supports including cash incentive for the garment sector ldquoBut it is not the right time to discontinue the incentivesrdquo The businessman urged the government to continue its support so that the garment sector can maintain its growth momentum Mustafizur Rahman a distinguished fellow of the Centre for Policy Dialogue said intra-garment diversification needs to continue to boost exports He said the exchange rate should be kept at the level that helps exporters The economist said pharmaceutical leather and light engineering sectors have huge opportunities to contribute to exports if they receive supports Allah Malik Kazemi change management adviser to the Bangladesh Bank said the global slowdown has affected the exporters He said the central bank keeps the interest of exporters in mind while managing the foreign exchange market Md Nojibur Rahman chairman of the National Board of Revenue said there is political commitment from the government to stand by exporters He emphasised export diversification saying the NBR also has a role to play by way of supporting small sectors Kazi M Aminul Islam executive chairman of the Bangladesh Investment Development Authority said the government would have to put more emphasis on agriculture and manufacturing sectors to diversify exports He said the garment sector grew fast riding on the policy support provided by the government in areas such as bonded warehouse exchange rate and incentives ldquoOther promising sectors should be provided the same policy support so that they can growrdquo he said Mohammad A Razzaque project leader of the BEI said it is stated that the non-garment exports will not grow because of the policy support provided to the garment sector He disagreed with the argument saying promoting export diversification and maintaining the garment sector dynamism must go hand in hand BEI President Farooq Sobhan also spoke Source httpwwwthedailystarnetbusinesspolicy-support-needed-diversify-exports-analysts-1489081

DIGITAL HUNDI SHRINKS REMITTANCE FLOW THROUGH BANKS BIBM Hundi traders have been fast transferring remittance to relatives of expatriate Bangladeshis through mobile services which have resulted in a fall in the amount of money sent through banking channels This was reflected in a research report by the Bangladesh Institute of Bank Management (BIBM) The report titled ldquoIncreasing flow of remittance through banking channel Bangladesh contextrdquo was placed at a seminar at the BIBM auditorium yesterday A six-member team led by BIBM Director Shah Md Ahsan Habib prepared the report According to the report remittance flow decreased in recent times all over the world but the fall in Bangladesh was more as it accounted for a considerably high amount of remittance generated in total The report identified several reasons for which remittance was plunging including bank branches being distant from the houses of remitters relatives The report also mentioned a lack of good behaviour on the part of bankers requirement of various documents and weekly holidays as causes BIBM Supernumerary Professor Yasin Ali said the scope of mobile banking has much increased in the last five year but banks have failed to utilise the channel He said banks have to provide remitters the opportunities which were offered by unofficial channels otherwise inflow of remittance through the banking channel would plummet

Daily News Flash 12th November 2017

14

Another BIBM Supernumerary Professor Helal Ahmed Chowdhury said the cost of sending remittance through banking channels was higher the effect of which was falling on remittance inflow Chowdhury said an initiative has to be taken to slash the cost of transferring remittance to increase the inflow through banking channels SK Sur Chowdhury deputy governor of Bangladesh Bank said remittance flow to Bangladesh declined by 1110 percent in 2016 due to lower oil prices and fiscal policy tightening in the Gulf Cooperation Council countries It is hoped that awareness programmes would encourage non-resident Bangladeshis to come forward to know the importance of channeling their money through banks he said Chowdhury also said to ease the flow in the formal channel Bangladesh Bank has reduced the security deposit requirement for exchange houses abroad to establish drawing arrangements with local banks In addition to their own bank branches and ATM booths banks are now using the branch networks of microfinance institutions and post offices as sub agents for remittance distribution Remittances are also distributed through agent banking such as that provided through Singer Bangladesh Limited outlets he said Furthermore Bangladesh Bank has established a separate ldquoFinancial Integrity and Customer Interest Protection Departmentrdquo to handle complaints and suggestions of customers or stakeholders at home and abroad to ensure smooth and hassle free services The ldquo16236rdquo hotline is to address customers hassles if any He said at the moment no bank can take more than two days in reaching remittance to designated beneficiaries Source httpwwwthedailystarnetbusinessdigital-hundi-shrinks-remittance-flow-through-banks-bibm-1489075

JOINT VENTURE TO PRODUCE 600MW IN MATARBARI

A joint venture between Japans Mitsui amp Co and a state-run Bangladeshi company is going to set up a liquefied natural gas-based power plant at Matarbari in Maheshkhali upazila to produce 600 megawatts of electricity Coal Power Generation Company Bangladesh Ltd yesterday signed a primary agreement with Mitsui amp Co to this effect in Dhaka on Wednesday according to a statement of the power and energy ministry The companies will have 50-50 ownership in the joint venture that will complete the project by 2021 The government has taken initiatives to import a huge amount of LNG from next year Both land-based and floating LNG terminals will be set up The government has approved two floating LNG terminals each of which will supply 500 million cubic feet of gas per day In July state-run Petrobangla and US-based Excelerate Energy signed the final deals to set up Bangladeshs first LNG terminal in Maheshkhali which will supply gas to the national grid from early 2018 The government also awarded Summit Group the work to set up the countrys first floating LNG terminal also in Maheshkhali This one is due for commissioning by next October Source httpwwwthedailystarnetbusinessjoint-venture-produce-600mw-matarbari-1489069

Daily News Flash 12th November 2017

15

EXPORTS TO EU STATES BUT GERMANY POST ENCOURAGING GROWTH

Bangladeshrsquos export earnings from European countries except Germany registered a significant growth in the July-October period of this financial year 2017-18 riding on an excellent performance of readymade garment products According to the Export Promotion Bureau data exports to major European countries registered double digit growth in the four months of FY18 while the RMG export to Germany fell in the period compared with that in the same period of last fiscal year The EPB data showed that Bangladesh suffered a negative export growth in two promising markets mdash Japan and China mdash in the July-October period of FY18 Exporters said that earnings growth in the EU markets increased in recent months as the euro appreciated against the dollar They also said that buyers and brands cut import orders from Bangladesh for their Chinese stores that caused the negative growth Export earnings from the UK the second largest export destination for Bangladesh in the EU grew by 2084 per cent to $134 billion in the four months of FY18 from $111 billion in the same period of FY17 Earnings from apparel products fetched $125 billion with 2227 per cent growth in the period Export earnings from Spain in July-October in FY18 grew by 2581 per cent to $80102 million from $63670 million in the same period of FY17 Export earnings from the Netherlands rose by 3416 per cent to $40108 million in the four months of FY18 Bangladesh earned $58097 million from France with 270 per cent growth and $46374 million from Italy with 1206 per cent growth Exports to Germany the second largest export destination for Bangladesh in the July-October period of FY18 stood at $186 billion the same amount earned in the July-October period of FY17 Anwar-ul-Alam Chowdhury Parvez former president of the Bangladesh Garment Manufacturers and Exporters Association said exports depend on season and the earnings from Germany would increase from November RMG export earnings fell by 039 per cent to $173 billion from $174 billion in the market data showed lsquoWe have to wait to identify the reasons for the stagnancy of growth in the German market Hopefully the export would rebound in the market in the coming monthsrsquo Md Fazlul Haqe former president of the Bangladesh Knitwear Manufacturers and Exporters Association told New Age on Saturday

Daily News Flash 12th November 2017

16

Export earnings from the US the largest destination for Bangladeshrsquos exports in the July-October period of FY18 grew by 228 per cent to $187 billion from $183 billion in the same period of FY17 Apparel export to the market grew by 244 per cent to $168 billion from $164 billion The EPB data showed that the countryrsquos export earnings from Japan in the July-October period of FY18 fell by 394 per cent to $33390 million from $34760 million in the same period of FY17 Export earnings from China in the four months of the FY18 decreased by 2242 per cent to $22475 million from $28971 million in the corresponding period of last fiscal year Parvez said that the domestic consumption in China slightly decreased in recent times and global retailers also cut import orders from Bangladesh for their Chinese stores due to congestions in the Chittagong port lsquoWe are losing many orders from global brands as we have been failing to meet lead time due to the problem in the portrsquo he said Source httpwwwnewagebdnetarticle28200exports-to-eu-states-but-germany-post-encouraging-growth

REHAB LEADERS DEMAND CUT IN TAXES Realtors on Saturday urged the government to cut tax rates at different levels of the housing sector to give a much-needed boost to the sector They also requested the government not to raise question over the source of the minimum paid up capital (Tk 1 crore) a real estate company requires to be a member of the Real Estate and Housing Association of Bangladesh REHAB leaders made the requests at a joint meeting with the National Board of Revenue held in a city hotel on the day NBR chairman Nojibur Rahman attended the meeting as chief guest while REHAB president Alamgir Shamsul Alamin senior vice-president Nurun Nabi Chowdhury Shaon and vice-president Liakat Ali Bhuiyan were also present among others Alamgir said that the REHAB made it mandatory for its member companies to have Tk 1 crore paid up capital and he requested the government not raise question over that money The government earlier made it mandatory for all developer companies to be REHAB members Alamgir also urged the government to form a re-financing fund worth Tk 20000 crore under Bangladesh Bank to provide low-interest and long-term loans to the potential apartment buyers He demanded apartment registration fee to be reduced to 65 per cent from the existing 155 per cent mentioning that other SAARC countries maintained it at 4-7 per cent Alamgir said that the government was losing huge revenue due to the high apartment registration fee as buyers were showing unwillingness to register their apartments at high cost Nurun Nabi urged the government to meet the REHABrsquos longstanding demands to save the housing sector from ruination He also called for reducing corporate tax of non-public traded companies to 20 per cent from the existing 35 per cent He sought a cut in the tax on signing money to 75 per cent from the existing 15 per cent Alamgir also appealed for reducing tax rate on apartment resale to 3 per cent He also sought total 15 per cent tax and VAT on professional services like engineering and architecture from the current 27 per cent Nojibur said that an NBR-REHAB joint working group would be formed to work together for the betterment of the housing sector He also requested REHAB leaders to provide opinions on the income tax law that would be amended soon He assured them that the NBR would consider their demands Source httpwwwnewagebdnetarticle28201rehab-leaders-demand-cut-in-taxes

Daily News Flash 12th November 2017

17

BrsquoDESH BHUTAN START TRADE DATA SHARING IN JAN Bangladesh and Bhutan have decided to start exchanging export-import data from January 1 to verify trade documents to check duty evasion and other customs-related offences through misdeclarations of goods and prices during trades between the two countries The data will be mailed in the first week of the subsequent month according to the decision taken at the 3rd Bangladesh-Bhutan joint group of customs meeting held in November 7-8 in Thimphu the capital of the Himalayan kingdom Initially both sides will exchange export data of three commodities and gradually the scope will be expanded to all the export items Delegations from the both sides also agreed to boost the existing trade volume between the two countries and improve infrastructure at land customs stations of Bangladesh and Bhutan to facilitate border trade Bhutan informed the meeting that they were establishing a mini dry port at Phuentsholing which would boost border trade between the countries National Board of Revenue member (customs audit modernisation and international trade) Khondaker Muhammad Aminur Rahman and Bhutanrsquos Department of Revenue and Customs director Yonten Namgyel led the respective delegations at the meeting Following a request from Bangladesh Bhutan agreed to put necessary information including country of origin name and address business identification number and tax identification number of importer on the export packages as per the current Import Policy Order of Bangladesh Both sides also agreed to hold ground-level customs meetings twice a year alternately at Phuentsholing of Bhutan and Burimari of Bangladesh to resolve customs-related problems smoothly The two countries also decided to raise the issue of improving the infrastructure at Changrabandha (Indian LCS opposite to Burimari of Bangladesh) and Jaigaon (Indian LCS opposite to Bhutanrsquos Phuentsholing) to ensure smooth border trade between the countries Bangladesh also requested the landlocked kingdom to use Nakugaon-Dalu-Gelephu route for their imports and exports as Bangladesh has decided to upgrade Nakugaon LCS as a trade hub for border trade with India and Bhutan Bangladesh side also underscored the potentials of use of riverine routes as mode of transport for export and import of goods Bhutan may also get duty-free market access for limestone powder export to Bangladesh according to the decision of the meeting Mohammad Ehteshamul Hoque NBR first secretary of customs modernisation and international trade on Saturday told New Age that both countries had resolved some small-scale problems to facilitate bilateral trade and committed to further enhancing border trade The planned ground-level meeting of customs officials will also play a role in identifying and resolving bottlenecks in trade between the two nations he said According to the NBR data Bangladesh exported products worth $322 million to Bhutan in the fiscal year 2016-2017 while it imported from the country products worth $3315 million Bangladeshrsquos highest export earnings from the country were $913 million posted in the FY 2011-2012 and the earnings have been declining with fluctuations over the years Bangladeshrsquos major export items to Bhutan are bakery items fruit and vegetable juices tableware kitchenware and toiletry articles of plastics non-alcoholic beverages menrsquos singlets briefs pyjamas medicament mixtures rice aluminium structure and few garment items On the other hand the country imports mainly citrus fruits stone granite dolomite limestone ferro-alloys apple and gypsum from Bhutan Source httpwwwnewagebdnetarticle28202bdesh-bhutan-start-trade-data-sharing-in-jan

Daily News Flash 12th November 2017

18

TAX FAIRS AT ALL ZONES BEGIN TODAY Income tax fair begins today at all income tax zones across the country to provide taxpayers with services in a similar hassle-free atmosphere they got at recently-concluded countrywide weeklong tax fair National Board of Revenue chairman Md Nojibur Rahman on Saturday in a statement said that the decentralised fair at the zones with similar facilities like the weeklong national tax fair would continue till November 30 the last day of income tax returns submission Tax officials will also start issuing income tax ID cards from November 20 to the taxpayers under each tax zone in Dhaka Issuance of ID cards will continue till November 28 There are 31 income tax zones across the country including 15 in Dhaka and four in Chittagong Officials of the revenue board said that the NBR took the decision so that all taxpayers could file their tax returns without any hassle with maximum support from tax officials Initially the NBR planned to issue ID card from November 9 which was deferred due to lack of preparation Source httpwwwnewagebdnetarticle28203tax-fairs-at-all-zones-begin-today

BTRC LIKELY TO LOSE RIGHTS OVER UNUSED BALANCE IN BLOCKED SIMS Mobile phone operators are likely to get relief from paying the government the unused balance in the SIM cards that would be blocked by the telecom regulator for various reasons especially for illegal voice-over internet protocol calls Mobile operators however will have to return the unused balance to its owner if claimed said officials of Bangladesh Telecommunication Regulatory Commission They said that a proposed amendment to the 4G licencing guidelines that would be passed by the telecom regulator in the upcoming commission meeting following instruction from prime ministerrsquos ICT advisor and posts and telecommunication ministry The instruction was made based on a meeting between the mobile phone operators and the government high officials on the proposed 4G licencing guidelines they said As per the BTRC approved draft 4G licencing guidelines that would be revised it was mandatory for all the operators to pay the BTRC the remaining balance amount of the identified illegal prepaid VoIP callers and unsuccessful or fake SIM registration of service connection fund at the time of deactivating them It was also mentioned in the guidelines drafted earlier that there would not be any rights of the mobile network operators over the forfeited account balance of the illegal VoIP callers Whereas it was also mandatory for the operators to pay the remaining balance of such SIM cards within ten days of the following month In case of deactivation of SIM cards for illegal VoIP calls mobile operators would keep the remaining balance while operators would have to pay the balance to its owner if claimed for deactivation of SIM cards for any other reason Such specification about the unused balance would help the operators while the government would lose its rights over the forfeited fund BTRC officials said Such initiative might foil another BTRC move to take stand against the mobile phone operators for non-payment of unused balance in the SIM cards which were blocked by the telecom regulator for various reasons Countryrsquos leading mobile phone operator Grameenphone in February this year deposited Tk 733 crore to the telecom regulator against the unused balance in the connections that were blocked between 2008 and 2014

Daily News Flash 12th November 2017

19

While other operatorsmdash Banglalink Robi Airtel Citycell and Teletalk mdash were yet to pay any fund to the commission in this regard Airtel formerly known as Warid Telecom has already merged with Robi in November 2016 Apart from the unused balance issued the government acknowledged almost all the issues raised by the mobile phone operators about the 4G licencing guidelines BTRC officials said Source httpwwwnewagebdnetarticle28107btrc-likely-to-lose-rights-over-unused-balance-in-blocked-sims

BONDED WAREHOUSE BACK-TO-BACK LC SHOULD BE OPEN TO ALL EXPORTERS Bonded warehouse facility and back-to-back letter of credit facility should be open for all for the export of all sorts of goods to diversify export products said experts and businesses at a workshop on Thursday They came up with the observation while speaking at a stakeholdersrsquo consultation workshop on lsquoExport Diversification Challenges and Prioritiesrsquo organised by Bangladesh Enterprise Institute at IFIC Tower in Dhaka Commonwealth Secretariat adviser and head of international trade and regional cooperation Section Mohammad Razzaque presented a keynote paper on lsquoRevitalising Bangladeshrsquos export trade Policy issues for growth acceleration and diversificationrsquo Razzaque in his presentation said that there should be alternatives of diversifying export destinations and products to achieve $60 billion export target by the year 2021 Although the country has continued to achieve more than 6 per cent growth export to GDP ratio has declined a bit in last couple of years and to increase the ratio for sustaining economic growth there was no alternative to increasing exports he said To facilitate export diversification and ensure equal facility treatment among the exporters all the sectors should get bonded warehouse facility as well as back-to-back letter of credit facility that helped the countryrsquos readymade garment sector to grow Razzaque said Salman F Rahman private sector development advisor to prime minister also said that the bonded warehouse and back-to-back LC facilities should be opened for all to support other exporters Suggesting for the continuation of existing facility for the RMG sector Salman also president of BEI said lsquoWe need product diversification for the economic growth but not at the cost of RMG sectorrsquo Former Dhaka University economics department chairman Wahiduddin Mahmud said that the gov ernment should set a broad category and announce subsidy and cash incentives for longer period to help the sectors to contribute to exports as well as economic growth Speaking about the exchange rate issue the eminent economist also said lsquoAs balance of payment has turned negative the government should not try to control the exchange rate anymorersquo Centre for Policy Dialogue distinguished fellow Mustafizur Rahman said lsquoApart from diversification of other products intra-RMG sector product diversification is also important as we have created a strong foothold in the sector and itrsquos a one trillion dollar marketrsquo Speaking about the repeated change in policy Federation of Bangladesh Chambers of Commerce and Industry president Shafiul Islam Mohiuddin said lsquoElectricity price has been doubled with just a so-called hearing and that led our foreign partners to backtrackrsquo Speaking about the 070 per cent source tax imposed on apparel sector commerce minister Tofail Ahmed said rsquoAlthough we cannot do a lot for the sector but such tax should not remain on the sectorrsquo Source httpwwwnewagebdnetarticle28039bonded-warehouse-back-to-back-lc-should-be-open-to-all-exporters

Daily News Flash 12th November 2017

20

GOVT TO SPEND FUND FOR TOBACCO CONTROL MEASURES CAMPAIGNS The government has finally framed a policy on the use of health development surcharge it imposed on tobacco products three and half years ago The health and family welfare ministry on Wednesday issued the gazette notification of Health Development Surcharge Management Policy-2017 identifying 16 sectors for spending the fund on The fund will mainly be used for limiting the demand for and supply of tobacco products financing tobacco control activities conducting researches and campaigns and operating Tobacco Tax Cell of the National Board of Revenue The revenue board in July 2014 imposed 1 per cent surcharge on all tobacco products both locally produced and imported ones aiming to spend the fund for implementing the programmes to control and discourage the use of tobacco products and prevent tobacco-related diseases In the last three fiscal years (2014-15 2015-16 and 2016-17) the tax authority collected around Tk 900 crore as health development surcharge from tobacco products including cigarette bidi gul zarda and other smoking and chewing tobacco products But the fund remains idle as the health ministry has not got the access to the fund over the years as there was no policy on how to the money be used Officials of the revenue board said that formulation of the policy had paved the way for utilising the fund for tobacco control and prevention of tobacco-related diseases They said that every year around Tk 300 crore would be added to the fund According to the policy the collected surcharge will be used for financing national tobacco control activities operation of the NTCC under the ministry campaigns in the mass media on health hazards of tobacco products and tobacco control and providing trainings to stakeholders The fund will also be used for setting up National Quitline a hotline to help people quit tobacco consumption and providing financial and technical support to organisations for implementation of programmes to prevent tobacco-related non-communicable diseases Programmes will also be taken to create awareness among farmers against tobacco cultivation and motivate them to cultivate alternative crops according to the policy According to the policy a Health Development Surcharge Management Committee headed by the health minister will supervise the proper use of the fund The National Tobacco Control Cell will provide secretarial support to the committee Fund from other sources such as possible imposition of any surcharge on products hazardous to health in future and donations from local and foreign sources will also be added to the fund it said The expenditures from the fund will be audited in line with the methodology followed for the other government agencies it said According to the Global Adult Tobacco Survey-2009 some 413 crore people or 43 per cent of the total population of Bangladesh consume tobacco products On the other hand 430 crore people are victims of indirect smoking According to the World Health Organisationrsquos 2004 data 57000 people die every year in Bangladesh suffering from tobacco-related diseases The government has taken an initiative to make the country smoking free by 2040 Source httpwwwnewagebdnetarticle28040govt-to-spend-fund-for-tobacco-control-measures-campaigns

STUDY BLAMES MOBILE HUNDI FOR FALLING REMITTANCES THRU BANKING CHANNEL A study of Bangladesh Institute of Bank Management on Thursday blamed Hundi through mobile financial services including bKash Rocket mCash and UCash for decreasing remittance through banking channel

Daily News Flash 12th November 2017

21

The study conducted by a six-member team identified distance of bank branches delay in receiving money misconduct by bankers submission of various documents weekly holidays of banks and illegal immigrants as the reasons for increasing remittance inflow through mobile Hundi The six-member team headed by BIBM director Shah Md Ahsan Habib presented the study at the seminar presided over by BIBM director general Toufic Ahmad Choudhury held in the auditorium of the institute in the city lsquoIn Bangladesh remittances declined by an estimated 111 per cent in 2016 in the face of lower oil prices and fiscal tightening in the GCC countries Among other reasons use of Illegal channel by the expatriates is doing harm to our countryrsquo Bangladesh Bank deputy governor Shitangshu Kumar Sur Chowdhury said He said that it would not be possible to stop Hundi totally but BB is working to check the transactions through the illegal channel To ease the formal channel BB has reduced the security deposit requirement for the exchange houses abroad to make arrangements for remittances with local banks Shitangshu said The BB deputy governor hoped that Non-Resident Bangladeshis would come forward to know the importance of their money to be sent through banking channels BB former executive director Yasin Ali said that national economy was being hindered due to remittance inflow through illegal channels He suggested using mobile banking facilities for remittance inflow saying that the area of mobile banking expanded many fold in last five years Helal Ahmed Chowdhury former managing director of Pubali Bank suggested bankers to be courteous with bank customers Source httpwwwnewagebdnetarticle28041study-blames-mobile-hundi-for-falling-remittances-thru-banking-channel

POLICY SUPPORT MUST TO DIVERSIFY EXPORT BASKET Speakers on Thursday said that in order to diversify the countryrsquos export basket export-oriented businesses should be given the policy support that has proved highly successful in bringing vibrancy to the countryrsquos RMG sector They were speaking at a workshop styled ldquoExport Diversification Challenges and Prioritiesrdquo organised by Bangladesh Enterprise Institute (BEI) in the auditorium of International Finance Investment and Commerce Bank in Dhaka Dr Mohammad A Razzaque former head of International Trade Policy at Commonwealth Secretariat in London presented a keynote paper in the programme chaired by Salman F Rahman private sector development advisor to Awami League President and Prime Minister Sheikh Hasina Skill development measures may also play a vital part in this regard Salman said export diversification would be possible only when adequate and appropriate policy support is provided to all export-oriented industries Dr Razzaque in his keynote paper suggested revamping and deepening policy support such as providing cash assistance and bonded warehouse facilities to all such industries to improve their export competitiveness He also highlighted the need for further expanding Bangladeshrsquos export basket as its penetration into global export markets in the last decade was very insignificant Eminent economist Prof Wahiduddin Mahmud said ldquoIn addition to providing subsidies and cash incentives to thriving and promising sectors on a long-term basis the government should take measures to strengthen the countryrsquos manufacturing baserdquo

Daily News Flash 12th November 2017

22

Shafiul Islam Mohiuddin president of the Federation of Bangladesh Chambers of Commerce and Industry said the governmentrsquos support is a must to create a strong manufacturing base for export diversification ldquoSkill development measures may also play a vital part in this regardrdquo Addressing the event as the chief guest Commerce Minister Tofail Ahmed said export diversification depends on businessmenrsquos initiatives He however pledged all necessary support from the government for export diversification to meet the countryrsquos $60 billion export target by 2021 BEI President Farooq Sobhan emphasised engaging the private sector in relevant policy discourses to achieve the target ldquoA private sector-oriented policy mechanism is very important as rapid changes are taking place in the global trade landscape Understanding implications and generating timely policy responses to unfolding developments will be meaningful only when the private sector is able to benefit from themrdquo said Sobhan Among others Mustafizur Rahman a fellow at the Centre for Policy Dialogue Kazi M Aminul Islam executive chairman of Bangladesh Investment Development Authority Bijoy Bhattacharjee vice chairman of Bangladesh Export Promotion Bureau and Md Nojibur Rahman chairman of the National Board of Revenue also spoke Source httpwwwdhakatribunecombusinesseconomy20171109policy-support-must-diversify-export-basket

BANKS LACK REMEDIAL STRATEGY WHILE NPL RISES WORRYINGLY Some of Bangladeshs banks dont have in-depth look into the problem of spiraling non-performing loans (NPL) while many others try to frame remedial strategies perfunctorily Such observations came out from studies on banking as well as financial sector at large as the NPL surge worries many quarters One finding shows that around 11 per cent of the countrys banks did not have an in-depth look into the issue of NPLs in the past year despite a growing concern over the problem in the financial arena The recent industry-wide survey also revealed that around 30 per cent of the countrys banks had not assessed their past NPL-reduction strategies at all while 36 per cent did so only on an ad-hoc basis The findings came out from the survey of the Chief Risk Officers at the banks on issues concerning NPL strategy in their institutions Leading banking research and training institution Bangladesh Institute of Bank Management (BIBM) conducted the study The research findings come at a time when the ballooning NPLs is becoming a major issue with the countrys banking industry and also triggering concerns and criticisms As per the central bank data the volume of NPLs had increased by more than 21 per cent to Tk 62172 billion by the end of 2016 swelling from Tk 51371 billion a year before The findings are genuinely surprising as we are struggling to find a bank for which NPL is not an issue in some capacity said Sazib Azad Senior Advisor of BIBM who led the research initiative Furthermore if the bank itself is immune to the impact of NPL even then they need to consider whether they are immune from structural or market-level impacts as well he told the FE However relevant survey results show the potential lack of such considerations as only 10 per cent of bank CROs taking part in the survey said that their banks are addressing potential dependence on market assessment and strategy What is more surprising is that the NPL strategies of around 62 per cent of the banks are not signed off by the boards the survey found

Daily News Flash 12th November 2017

23

This is quite striking because given the severity of the non-performing-loan issue the NPL strategy should be signed off by the boards Mr Azad said adding Boards are not only accountable for the health of the banks but are also in position to release resources to get to grips with the issue In addition the survey result also revealed 31 per cent of the banks not communicating their NPL strategy across the bank NPL as an issue needs to be addressed from ground up But the results show that this is not happening at our banks said an expert who was involved with research Meanwhile 25 per cent of the CROs said they were not tracking the implementation and effectiveness of NPL strategy in their banks- something which according to experts is a cause of concern Given how critical an issue NPL exposure is we would expect every CRO to track how the NPL strategy is being implemented its effectiveness and how to improve matters to the Board Risk Committee and the Board the banking experts said Meanwhile the survey results also found that although 94 per cent of the banks had stress-tested their balance sheet in terms of NPL drag this figure drops to 56 per cent while considering the impact to and from the wider economy market and structural aspects It seems that 33 per cent of the banks do not formally consider this aspect with a further 11 per cent not looking at this dimension at all the researchers said Experts also noted that with Basel 3 farther putting capital under pressure sensible banks should dynamically model the impact of key risks to their capital However the survey results show 17 per cent of the banks are not doing so while 31 per cent doing it in a limited manner Asked whether their banks risk-appetite-statement metrics reflected their NPL strategy 36 per cent of the respondents said they do so in a limited capacity while a further 80 per cent are not doing that at all It was also found that 25 per cent of the C-Suites have specific NPL-strategy-related targets while 31 per cent of the CROs have the same Meanwhile when asked whether they consider their NPL strategy to be embedded just over half of them or 52 per cent of the survey participants said Yes This according to experts is clearly not fit for purpose given the severity of the NPL issue facing the banking sector The first step in looking into the NPL issue is to assess internal capabilities to effectively manage NPLs Next external conditions or operating environment needs to be considered Finally the capital implications of the NPL strategy need to be analyzed said Sajib Azad The findings of the survey will be shared with the stakeholders during the next CRO forum of BIBM expected to take place next month where the issue of Risk Culture will also figure high The biggest reason for the swelling of NPL in our banking sector is a lack of good governance To check the ballooning of NPL the internal governance of the banks has to be strengthened above all Director-General of BIBM Toufic Ahmad Choudhury said Meanwhile the survey also found banks tending to consider time-horizon portfolio segment and exposure-level-based targets to be broadly equally important to their NPL strategy In terms of options preferred for reducing NPL banks consider change of exposure type to be most effective (36 per cent) followed by active portfolio reductions (33 per cent) and hold forbearance (31 pe rcent) Source httptodaythefinancialexpresscombdfirst-pagebanks-lack-remedial-strategy-while-npl-rises-worryingly-1510417700

GOVT SEEKS US$183B UNDER 39TH JAPANESE ODA PACKAGE The government has sought around US$183 billion worth of assistance from Japan for bankrolling six development projects officials said Saturday

Daily News Flash 12th November 2017

24

Officials at the Ministry of Finance (MoF) said they have already discussed the issue with the Japan International Cooperation Agency (JICA) We are hopeful of receiving funds under its upcoming 39th Official Development Assistance (ODA) package to finance six development projects a senior MoF official told the FE He said a JICA mission in September-October last completed its visit to Bangladesh to explore the possibilities of financing the proposed projects We are hopeful of signing the 39th ODA package with JICA within a couple of months he said After signing the loan deal the largest bilateral donor will start disbursement of funds from the proposed $183 billion aid package for the six development projects the MoF official added The proposed six projects under the 39th ODA package are Matarbari port development Dhaka MRT line-6 construction (phase-III) Dhaka MRT line -5 feasibility study Matarbari ultra super critical coal-fired power plant (phase-IV) Jamuna Railway Bridge construction and Health service strengthening project A senior official of Economic Relations Division said the proposed 39th ODA package will be very useful for Bangladesh as it will be utilised to develop the Matarbari port ongoing Matarbari power plant project conduct feasibility study and detailed design of the MRT line-5 in Dhaka and to construct railway bridge over the River Jamuna All of these projects are very important for the country to ensure smooth transportation and uninterrupted power supply he added Japan is the largest bilateral development partner of Bangladesh Over last 5-6 years it has enhanced its aid with confirmation of more than US$10 billion worth of funds under each of the aid packages In the last 38th ODA package signed in June 2017 JICA provided Yen 178223 billion ($164 billion) for utilising in six development projects on transport infrastructure power and water sector improvement works In June 2016 Japan signed the 37th ODA deal worth $150 billion (17354 billion Japanese Yen) with Bangladesh and in December 2015 it inked the 36th ODA package confirming $12 billion concessional loan for six development projects Under the last 38th ODA package JICA offered $700 million (Yen 76825 billion) for Hazrat Shahjalal International Airport Expansion project $480 million (Yen 5273 billion) for 2nd Kanchpur Meghna and Gumti bridges construction $50 million (Yen 5593 billion) for Dhaka Mass Rapid Transit development project (Line 1) $100 million (Yen 10745 billion) for Matarbari ultra super critical coal-fired power plant $190 million (Yen 20477 billion) for Dhaka underground substation construction project and $110 million (Yen 11853 billion) loan for small scale water resources development project Japan has so far provided Bangladesh with nearly US$12 billion in assistance since the financial year (FY) 1971-72 Source httptodaythefinancialexpresscombdfirst-pagegovt-seeks-us183b-under-39th-japanese-oda-package-1510417739

SUMMIT GROUP ENTITIES TO ISSUE PREFERENCE SHARES WORTH $1250M A subscription closing ceremony to raise capital through issuance of preference shares worth BDT 1000 million (USD 1250 million) for Summit Barisal Power Limited amp Summit Narayanganj Power Unit II Limited was held recently at Pan Pacific Sonargaon Dhaka said a statement LankaBangla Finance Limited acted as the Mandated Arranger LankaBangla Investments Limited acted as the Issue Manager and The City Bank Limited acted as the Agent Account Bank amp Custodian Bank to raise the fund In the event Mr Lt Gen (Retd) Engr Abdul Wadud Managing Director of Summit Barisal Power Limited amp Summit Narayanganj Power Unit II Limited Mr Khwaja Shahriar Managing Director amp

Daily News Flash 12th November 2017

25

CEO of LankaBangla Finance Limited Mr Mohammed Nasir Uddin Chowdhury Managing Director of LankaBangla Capital Market Operations Mr Mominul Islam Managing Director amp CEO of IPDC Finance Limited Mr R Q M Forkan Managing Director amp CEO of Bangladesh Commerce Bank Limited Mr Faruq M Ahmed Additional Managing Director of Trust Bank Limited Mr Akthar Hamid Khan Deputy Managing Director of Pubali Bank Limited Mr Arif Hasan Khan Vice President of Modhumoti Bank Limited Mr Mohammad Ibrahim Khalil FCA Vice President amp CFO of Bank Asia Limited and Mr Mahbub Jamil Vice President and Head of Structured Finance of The City Bank Limited along with other senior officials from the companies were present Source httptodaythefinancialexpresscombdstock-corporatesummit-group-entities-to-issue-preference-shares-worth-1250m-1510411878

BMBA URGES MUHITH TO EXEMPT INVESTMENTS BY MF SPONSORS Bangladesh Merchant Bankers Association (BMBA) has urged the finance minister to exclude some components including sponsors investments in mutual funds (MFs) from the banks exposure to the capital market It made the request for ensuring an environment conducive to gradual development of the capital market according to a proposal submitted to Finance Minister AMA Muhith last week The BMBA said the long-term or strategic investments needed to be excluded while calculating the exposure as these investments were not intended for frequent trading Non-convertible preference shares and non-listed securities also need to be excluded from the capital market exposure as it will never influence the capital market volatility it said in a letter to the minister According to the letter the MFs are passive investments where investors themselves are not involved in investment decision making and such fund portfolios are mostly of long-term nature than frequent trading On the other hand the sponsors of the MFs need to hold 10 per cent of the investment until liquidation of the fund So considering the fact the sponsors portions in MFs need to be excluded from the banks capital exposure said the BMBA proposal As per the Banking Act 1991 it said reporting requirement is on solo basis but the central bank has introduced consolidated calculation which is of dual effectdouble counting in the market exposure This kind of restrictive measure creates panic situation in the market and may hinder the potentials and prospects of the capital market as a whole the BMBA said It also said that this kind of practice needed to be stopped as such requirements and reporting practice would further squeeze the market and that the investors would lose their interest The BMBA said some organisations have invested on strategic purpose and were holding positions in the board and their exposure increased with rising the market price of MF units On the other hand in compliance with the securities rules they are unable to sell shares to reduce exposure the BMBA said terming the situation complicated In its letter the BMBA said that the capital market exposure of some banks and financial institutions increased without fresh investments following the upward trend of the market price as the exposure is calculated on the basis of market price If the banks need to go for selling off their excess exposure this will create unnecessary selling pressure on the market said the BMBA The association requested the finance minister to consider their proposal to facilitate the growth of the capital market by its own strength and prospect Source httptodaythefinancialexpresscombdstock-corporatebmba-urges-muhith-to-exempt-investments-by-mf-sponsors-1510411950

Daily News Flash 12th November 2017

26

ATIUR STRESSES ROLE OF REGULATORS IN DIGITAL FINANCIAL INCLUSION Former Bangladesh Bank Governor Dr Atiur Rahman chairs a session at the 5th Biennial Competition Regulation and Development Conference at Jaipur in India on Thursday Success of digital financial inclusion depends on the prudent role of the regulating bodies to a great extent And the recent progress in Bangladesh in this regard is a good example for the rest of the world to follow said Dr Atiur Rahman former governor of Bangladesh Bank says a statement He was chairing a session at the 5th Biennial Competition Regulation and Development Conference at Jaipur India on Thursday The three-day conference is being hosted by CUTS International and OECD Speakers of the session included Ravinder S Aurora Senior Vice President of Mastercard David Ongolo Kenyan Competition Authority and Dr A K EnamulHaque Professor of East West University Dhaka Many developing countries survived and even thrived during the last global financial crisis because they chose to follow a broad-based financial inclusion strategy And digital solutions played a crucial role in this financial inclusion drive said Dr Rahman He added that service providers must focus on reaching out to the customers in the rural socio-economic conditions Dr Rahman said that experience from Bangladesh can answer many of the burning questions regarding digital financial inclusion The central bank of the country has facilitated bank-led digitisation drive Be it Mobile Financial Service or be it Agent Banking the Bangladesh Bank has encouraged traditional players (ie the commercial banks) to lead the way And it has been proven to be very successful He also said that the world is witnessing only the beginning of the digital finance revolution Hence we must learn from all these experiments share our experiences and know-hows Only then we can work towards shaping global standards and practices Dr Rahman finally asked all central banks to be more proactive and collaborative with other stakeholders including non-traditional financial service providers to facilitate orderly development of digital financial inclusion so that consumers interests are better protected The grievance redressal mechanism developed in Bangladesh Bank with infusion of state of the art technology to gain trust of the customers in financial inclusion was also discussed widely in the session The panelists highly appreciated Bangladeshs regulatory move with public interest in mind using latest technology for replicable digital financial inclusion Source httptodaythefinancialexpresscombdtrade-marketatiur-stresses-role-of-regulators-in-digital-financial-inclusion-1510416319

FAO FEARS NEGATIVE BD FOOD OUTPUT GROWTH ON FLOODING Recent flooding has dampened the outlook for Bangladesh a likely third successive season of little or negative food production growth mainly rice reports UNB quoting FAO Barring major setbacks production recoveries could instead permit Bangladesh and Sri Lanka to slightly lower their 2018 imports to 11 million and 450 000 tonnes respectively according to the latest Food Outlook published by the UN Food and Agriculture Organisation (FAO) Among other rice importers Bangladesh Iraq Nigeria and the Philippines are all similarly predicted to replenish their inventories according to the report a copy of which obtained by the news agency These gains are however likely to be offset by stock reductions in the Republic of Korea Madagascar Sri Lanka and the United Republic of Tanzania all linked to output shortfalls Although the use of rice as animal feed is being sustained by the release of supplies from government granaries in Japan the Republic of Korea and Thailand more affordable feedstuffs are expected to displace rice in most other countries especially in Bangladesh China (Mainland) and Vietnam

Daily News Flash 12th November 2017

27

Since the previous Food Outlook report a series of unfavourable climate-related events have affected main paddy crops in the Northern Hemisphere which have now reached the harvesting stage This has been the case in Asia where unlike 2016 the critical Northern Hemisphere summer months were characterised by mixed growing conditions that inhibited planting expansions As a result FAOs latest forecast of world rice production in 2017 points to a broadly stable output level of 5008 million tonnes Production in Asia is now forecast to fall 550 000 tonnes below the 2016 bumper harvest to 4525 million tonnes The UN agriculture agency has said the cost of importing food is rising in 2017 driven by increased international demand for most food stuffs as well as higher freight charges The cost of importing food is forecast to rise six per cent in 2017 to $1413 trillion making it the second highest bill on record while food commodity prices have been generally stable according to the latest Food Outlook that expressed concern about the economic and social impact of this trend on poor countries Although weather disruptions are set to stall production growth this season global rice supplies are still forecast to exceed utilisation enabling a small expansion of world rice inventories Global trade is expected to rise only modestly in 2018 after staging an 8 per cent recovery in 2017 The food import bills are set to increase by double-digit rates for least-developed countries (LDCs) and low-income food-deficit countries Aromatic rice varieties have risen eight times faster than the FAO All Rice Index which is up four per cent on the year However the higher import costs come at a time when inventories are robust harvest forecasts are strong and food commodity markets remain well supplied The export of tropical fruits is promising for poverty relief and rural development as almost all production takes place in developing countries The export volumes of mango pineapple avocado and papayas are on course to achieve a total combined value of $10 billion this year according to the Food Outlook Source httptodaythefinancialexpresscombdfirst-pagefao-fears-negative-bd-food-output-growth-on-flooding-1510336161date=11-11-2017

STOCKS NUDGE HIGHER AS BANK TELECOM ISSUES SURGE Stocks extended the winning streak for the two consecutive weeks that ended Thursday as enthusiastic investors continued their buying appetite on bank and telecommunication issues Market operators said the positive momentum in some large-cap issues especially from banking telecom pharmaceuticals and food amp allied sectors helped the bourse to stay upbeat The banking sector posted the highest return of 445 per cent as 27 out of 30 listed banks ticked higher Four banks gained more than 10 per cent each The telecom sector also surged 342 per cent as Grameenphone the countrys largest market-cap listed companys shares price jumped 40 per cent to close at Tk 45690 each The market extended the winning streak riding on heavyweight bank and telecom issues said an analyst at a leading brokerage firm The week featured five trading sessions as usual Of them first session saw marginal correction while last four closed higher Week-on-week DSEX the prime index of the Dhaka Stock Exchange (DSE) jacked up by 9454 points or 155 per cent to finish at 6193 The two other indices -- the DS30 index and the DSE Shariah Index (DSES) - also closed higher at 2244 and 1341 points

Daily News Flash 12th November 2017

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Both the indices added 4264 points and 1218 points respectively During the week banking pharmaceuticals and telecommunication sector stocks contributed more to keep the market up commented City Bank Capital Resources a merchant bank in its weekly analysis The port city bourse Chittagong Stock Exchange (CSE) also ended higher The CSCX advanced 180 points or 156 per cent to finish at 11618 International Leasing Securities a stockbroker noted that the market observed an upbeat vibe throughout the week riding on the news of soaring of net foreign investment in the capital market in the first 10 months of 2017 compared to the same period of last year Net position of foreign portfolio with the DSE stood at Tk 1623 billion in January-October compared to Tk 80 billion in the same period a year ago However some investors were reshuffling their portfolios after observing the year-end corporate declarations and first quarter earning disclosures the stockbroker added According to EBL Securities The market witnessed an upbeat tune throughout the week riding on regained confidence among the market participants The stockbroker noted that preferable year-end and quarter-end earnings declarations by several companies helped them to remain positive about market The total turnover for the week amounted to Tk 3591 billion on the DSE which was Tk 3027 billion in the week before The daily turnover averaged Tk 718 billion which was nearly 19 per cent higher than the previous weeks average of Tk 605 billion Block trade accounted for 16 per cent of the total weekly turnover where stocks like BATBC Beximco Pharma Shahjalal Islami Bank Square Pharma and Singer Bangladesh dominated the block trade board Banking sector kept its dominance over the turnover chart grabbing 35 per cent of the weeks total transaction followed by engineering with 18 per cent and pharmaceuticals 11 per cent Out of 336 issues traded 207 closed lower 116 ended higher and 13 issues remained unchanged on the DSE trading floor during the week The market capitalisation of the DSE rose 137 per cent as it was Tk 4123 billion on the opening day of the week and it stood at Tk 4179 billion on closing day of the week City Bank topped the weeks turnover chart with 5390 million shares worth Tk 184 billion changing hands followed by IFAD Autos with Tk 121 billion Brac Bank Tk 10 billion LankaBangla Finance Tk 994 million and Dhaka Bank Tk 926 million Reckitt Benckiser was the weeks best performer posting a gain of 1925 per cent while Stylecraft was the weeks worst loser slumping by 3322 per cent A new issue - Oimex Electrode-- made debut last week and soared 1042 per cent from its offer price of Tk 10 in the first trading day on Monday Source httptodaythefinancialexpresscombdstock-corporatestocks-nudge-higher-as-bank-telecom-issues-surge-1510332934date=11-11-2017

BANGLADESH GROWING AS DENIM HUB The growing global demand for fashionable denim wear encouraged both local and foreign entrepreneurs to make fresh investment in Bangladesh participants and organisers of Bangladesh Denim Expo have said Many of the 30 local denim mills are going for expansion while a couple more will come into operation with fresh investment within next two or three years they said Some foreign companies are opening offices or setting up factories in Bangladesh they added The seventh edition of the two-day Bangladesh Denim Expo was held in the city recently with the theme transparency to highlight the need for transparency in the entire denim supply chain

Daily News Flash 12th November 2017

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A total of 65 exhibitors from 12 countries participated in the show while more than 12 thousand visitors from across the world registered online to attend the two-day expo organisers said Talking to the FE on the sidelines of the expo Md Khalid Mosharof assistant general manager at Dekko Group said the group invested Tk 15 million in setting up a new factory of 44 lines at Ashulia that would go for denim item production in June next The main reason is to tap the growing global demand he said Echoing him Syeed Ahmed Chowdhury general manager operation at Square Denim said the company expanded its denim fabric production capacity to 30 million yards from the existing 15 million yards per month mainly to meet the demand He however opined that the expansion is taking place more in garment segments than in fabric production There is no alternative to expansion to sustain the existing business and achieve the $50 billion garment export earnings target by 2021 Sharif Zahir managing director of Ananta Group said stressing the need for positive branding of the sector Meanwhile Landes a German denim accessories maker started production in its new factory at Savar from this month It invested US $05 million We opened the factory in Bangladesh as we think this is the hub for denim business and there is a lot of business prospects here Manfred Slowik chief operating officer of Landes told the FE at his stall at the expo By the end of next year the total workforce in our new plant will be 120 people as we are recruiting new people from existing 30 Mr Slowik said Landes has a target to produce 500 million pieces of leather patches used in denim trousers as accessories in a year at its Savar plant from where such accessories will be supplied to the whole Asian region Many big brands like HampM VF and Walmart are their customers he said Nezahat Boni senior account manager of Orta a Turkish denim maker said her company supplies 30 million metres of denim fabrics in Bangladesh in a year against only 800 meters in 2011 We opened an office in Bangladesh in 2011 as we cannot ignore the importance of this country as a denim hub she said Prosperity Textile a Chinese company opened its office in Dhaka last year said Md Mujibul Hoque the companys Bangladesh Sales Director The company has targeted sale of 100 million yards a year across the globe while it also targets 30-40 per cent of their sales in Bangladesh Bangladesh is now the top denim products supplier to the European Union overtaking China and third largest to the US after China and Mexico industry people said Bangladesh supplies denim products to major global buyers and retailers including levis G-Star Raw HampM Tesco Wrangler Hugo Boss Walmart and Gap Source httptodaythefinancialexpresscombdtrade-marketbangladesh-growing-as-denim-hub-1510332061date=11-11-2017

EXPORTS UP 70PC IN JULY-OCTOBER Countrys export earnings grew by 703 per cent to US$1150 billion during first four months of the current fiscal year (FY 2017-18) according to official data released Thursday The earnings were $1079 billion in the same period (July-October) last FY In October 2017 the exports grew by 642 per cent to $284 billion the Export Promotion Bureau (EPB) data showed The overall exports in the first four months slightly (074 per cent) fell short of the periods target In October however the exports were 628 per cent higher than the months strategic target Readymade garment shipments fetched $943 billion marking 699 per cent growth during the period as compared to $882 billion in the same period of last FY

Daily News Flash 12th November 2017

30

The woven items registered 385 per cent growth in earnings to $445 billion than that of $428 billion in the same period of FY 2016-17 The earnings from knitwear export during the period grew by 995 per cent to $498 billion from $453 billion in the corresponding period of last FY Jute and jute goods exports rose by 1646 per cent to $34501 million from $29626 million in the same period of FY17 The earnings from agriculture products grew by 2022 per cent during the period while home textiles by 2037 per cent The earnings from leather and leather products however fell marginally by 002 per cent to $42844 million during the period than that of $42851 million in the same period last FY The export earnings from frozen food and live fish grew by 1541 per cent to $22691 million from $19661 million of the corresponding period of last fiscal Mahmud Hasan Khan vice president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) said the exports in the first four months of the current fiscal year fell short of the expected growth mainly because of failure in maintaining the lead time and short supply of gas and electricity Terming the knitwears growth satisfactory he said woven items manufacturers have been struggling to cope with the new challenge as buyers were reducing the volume of orders due to failure in meeting the lead time Without efficient port and strong backward linkage industry especially for the woven sub-sector it will be difficult for the sub-sector to bounce back he feared He pointed out that maximum of the woven fabric requirements were being met through imports But it was taking too much time to clear the imported fabrics and additional charges as a result at the Chittagong seaport that was facing unbearable congestion The government should provide necessary policy support to the exporters to establish strong backward linkage industry for the woven sub-sector he added Source httptodaythefinancialexpresscombdfirst-pageexports-up-70pc-in-july-october-1510248870date=10-11-2017

GAS CRISIS HURTING OUTPUT IN INDUSTRIAL BELT Factories in the countrys Tongi-Gazipur industrial belt have been facing acute gas crisis over the past few months following diversion of gas to upstream power plants The crisis has deteriorated further this week albeit some improvements for a few days last week said local industrialists and businessmen According to them if the ongoing gas crisis persists they may be forced to shut down their factories Officials of the Titas Gas Transmission and Distribution Company Limited (TGTDCL) however blamed the Petrobangla for the gas crunch Sources concerned say the industrial belt of Tongi-Gazipur is suffering badly for about four to five months from low pressure of gas coupled with poor electricity voltage -- often resulting in huge volume of industrial wastages and reduction of production efficiency According to the industry insiders a factory in the industrial belt requires 04 PSI (production per square inch) as optimum gas pressure but the pressure at times comes down to as low as 01 PSI these days -- especially during the daytime Gas pressure in the area becomes normal around 10pm11pm and stays for not more than 08 hours until 6am7am an entrepreneur of the industrial belt informed Asked an official of Titas said they are at present getting nearly 250 million cubic meters (MCM) less in recent weeks against their current demand of 1800 MCM gas in Titas franchise The downstream Titas franchise area covers greater Dhaka region which includes Gazipur alongside some other adjoining districts and greater Mymensingh he said

Daily News Flash 12th November 2017

31

A Petrobangla source however cited gas supply on priority basis to a number of upstream projects including power plants as reason behind supply shortage When asked Managing Director of Akij Group Sk Bashir Uddin termed the situation really worrisome According to him two of Akij Group companies situated in the area -- Akij Printing amp Packages Limited and Dhaka Tobacco Industries -- jointly contributed nearly Tk 35 billion (3500 crore) to the national exchequer in the 2016-17 fiscal year But were very much worried about our industrial output this year as production disruption following the twin crises involving gas supply and power supply Both will eventually disrupt our retail business in every phase he quipped This often results in a high rate of industrial wastage and reduction of production efficiency he added Bangladesh Auto Re-rolling Steel Mills amp Association Chairman Manwar Hossain who is also Anwar Group Managing Director echoed the same concern Factories in the industrial belt are now operating at one-third of their capacity which may lead to labour unrest and default of huge sum of bank loans he said Such disruption of production he cautions may even cause sudden shutdown of factories According to him none of the victims in that case will be the wilful defaulters -- they will be the victims of circumstances The businessman who has a steel factory called Anwar Ispat Limited in the industrial belt called for immediate introduction of ECM (electronically controlled meters) to check unabated gas engineering in the area which he deems to be yet another reason for gas supply crunch Titas officials according to him are encouraging co-generation scheme to help address the severe gas crisis But he said co-generation will require stable and smooth gas supply Government should ensure at least 10-15 years of smooth gas supply to encourage co-generation as what he said any industrial investment requires 20 years of payback period TGTDCL Deputy Managing Director Engineer Abdul Wahab Talukdar who is also the Project Director of Sripur-Joydevpur Transmission Pipeline Project said We cannot do anything to address the crisis if there is a lack of adequate gas supply Mentioning that all factories in the industrial belt are like my babies he unequivocally said Titas is not at fault He also admitted that priority-based power plants gas supply being the reason behind the current spell of gas crunch We have already started introducing electronic volumetric corrector (EVC) to stop illegal gas use in the area he said Factories he added should go for co-generation scheme for protecting their own interest Co-generation means utilising and absorbing heat generated from gas generators which Mr Wahab said will save energy A section of the businessmen however called for stopping fertiliser production and distributing the same among people at a subsidised price after importing it to facilitate smooth supply of gas to other industries Even if the government stops fertiliser production and opts for importing it for distribution at a subsidised rate there will only be an insignificant loss compared to the overall losses now being incurred said an industrialist who has more than one factory in the industrial belt Local sources said illegal and unapproved gas connections in various industries in and around the zone are also affecting gas supply badly among other reasons Source httptodaythefinancialexpresscombdfirst-pagegas-crisis-hurting-output-in-industrial-belt-1510249018date=10-11-2017

Daily News Flash 12th November 2017

32

SINGLE PERSON MAY FORM COMPANY A single person may form a commercial firm under a provision of the companies law being updated along with some other major business-stimulating measures Official sources said the government is considering incorporating some new provisions including one allowing individuals to form any company into the updated Companies Act The other provisions are formation of an appellate tribunal to resolve legal matters without wasting much time widespread automation of companies work and submission of annual company reports online Earlier the Ministry of Commerce (MoC) had received some recommendations from the stakeholders on how to update the law they added We got most of the recommendations from the stakeholders We hope we will be able to prepare the draft Companies Act within a month Md Obaidul Azam director trade organisations (DTO) told the FE He said the recommendations the ministry had received so far were being scrutinised before preparing a draft for updating the companies act Earlier different trade bodies had sent their respective recommendations to the MoC for incorporation into the law The MoC will hold a meeting with the countrys apex trade body after assessing the recommendations and suggestions the ministry official said Talking to the FE a leader of an influential trade body said they had sent some recommendationssuggestions to the MoC for the new Companies Act for betterment of the countrys trade and business According to Section 2 (1) (c) of the Companies Act 1994 Company means a company formed and registered under this Act or an existing company Thus a company is an association of persons formed under the Companies Act 1994 with a view to achieving some common objectives Though a company is regarded a legal person it possesses similar rights and owes similar obligations like a natural person Now any individual fulfilling the new criteria may be allowed to form a firm Source httptodaythefinancialexpresscombdfirst-pagesingle-person-may-form-company-1510249090date=10-11-2017

DSE TURNOVER CROSSES TK 80 BILLION MARK The daily turnover on Dhaka Stock Exchange (DSE) exceeded the Tk 80 billion mark on Thursday as investors took fresh exposure to the banking sector Turnover a crucial indicator of the market reached Tk 870 billion on the countrys premier bourse jumping 14 per cent from the previous days transaction of Tk 765 billion It was the biggest single-day transaction since October 11 when the turnover totalled a record Tk 1092 billion Along with rising turnover DSEX the prime index of the Dhaka bourse continued to keep its gaining momentum closing 3449 points higher at 6193 points DSEX which replaced the DGEN in nearly five years back added more than 121 points or 20 per cent in the past four consecutive sessions The two other indices -- the DS30 index and the DSE Shariah Index (DSES) -- also followed suit to end at 2244 and 1341 points after gaining 1422 points and 443 points respectively Brokers said the market maintained the bullish trend for the four straight sessions as the enthusiastic investors chased the banking sector stocks The market continued the bullish trend for the four consecutive sessions as the enthusiastic investors were active for the banking food and engineering sector stocks commented EBL Securities a stockbroker in its regular market analysis

Daily News Flash 12th November 2017

33

It noted that the core index remained positive throughout the session as optimistic investors kept buying sector-wise stocks while some rebalanced their portfolios Meanwhile share price of newly listed Oimex Electrode continued to decline for the three consecutive sessions after unusual hike during its debut trading on Monday The companys share price fell 763 per cent to close at Tk 9810 on Thursday after jumping more than tenfold during the debut trading which experts termed unusual Block trade contributed Tk 241 million to the days total turnover with stocks like BATBC Square Pharmaceuticals Singer Bangladesh and Beximco Pharma dominating the block trade board Among the major sectors pharmaceuticals posted the highest gain of 122 per cent followed by banking sector (083 per cent) food amp allied (067 per cent) engineering (033 per cent) financial institutions (003 per cent) and power (003 per cent) Only telecommunication sector faced a 045 per cent correction A total number of 0140 million trades were executed in the days trading session with trading volume totalling 23171 million securities The total market capitalisation of the DSE stood at Tk 4179 billion against Tk 4168 billion in the previous session Losers however took a modest lead over the gainers as out of 325 issues traded 140 closed lower 130 closed higher and 55 remained unchanged on the DSE trading floor City Bank dominated the turnover chart for the second day in a row with 1035 million shares changing hands closely followed by Dhaka Bank LankaBangla Finance Brac Bank and Keya Cosmetics Reckitt Benckiser was also the days best performer posting a gain of 624 per cent while Qasem Drycells was the days biggest loser shedding 1235 per cent The port city bourse Chittagong Stock Exchange (CSE) also ended higher with its Selective Categories Index -- CSCX --gaining more than 62 points to close at 11618 Losers beat gainers as 113 issues closed lower 97 closed higher and 37 remained unchanged on the CSE The port city bourse traded 1604 million shares and mutual fund units generating a turnover of Tk 483 million Source httptodaythefinancialexpresscombdstock-corporatedse-turnover-crosses-tk-80-billion-mark-1510245247date=10-11-2017

TEN COS GRAB 32PC TURNOVER ON DSE The banking sector continued to dominate the transaction chart of the Dhaka Stock Exchange (DSE) accounting for 39 per cent of the total turnover on Thursday Four banks made their way to the top 10 turnover chart with City Bank leading the chart for the second day in a row Brokers said the investors chased the banking sector issues as more than 63 per cent of listed banks showed positive earnings in the third quarter (July-September period) Meanwhile top 10 traded companies including four banks grabbed more than 32 per cent of turnover on the Dhaka bourse The total turnover on the premier bourse reached Tk 870 billion up 14 per cent from the previous days Tk 765 billion The most active shares in terms of value included City Bank Dhaka Bank LankaBangla Finance Brac Bank Keya Cosmetics Square Pharmaceuticals Beximco Pharmaceuticals IFAD Autos Exim Bank and IDLC Finance According to statistics available with the DSE about 1035 million shares of City Bank were traded generating a turnover of Tk 553 million or 635 per cent of the total transactions

Daily News Flash 12th November 2017

34

The companys share price hovered between Tk 5240 and Tk 5440 before closing at Tk 5390 advancing 228 per cent over the previous session Dhaka Bank came in next with shares of Tk 395 million changing hands contributing 454 per cent to the total turnover The banks share price closed 347 per cent higher at Tk 2380 LankaBangla notched the third spot with shares of Tk 266 million changing hands making up 305 per cent of the total turnover Its share price ended 063 per cent higher at Tk 6430 Brac Bank emerged the fourth with shares of Tk 257 million changing hands grabbing 295 per cent of the total turnover The banks share price settled 123 per cent higher at Tk 107 Keya Cosmetics featured a turnover of Tk 247 million or 284 per cent of the total turnover Its share price closed 201 per cent higher at Tk 1520 The turnover of Square Pharma was Tk 241 million or 276 per cent of the total transaction Its share price ended 612 per cent down at Tk 27890 Beximco Pharma featured a turnover of Tk 211 million or 242 per cent of the total turnover Its share price advanced 428 per cent to close at Tk 10960 The turnover of IFAD was Tk 208 million accounting for 238 per cent of the total turnover Its share price closed at Tk 14070 gaining 195 per cent Exim Bank featured a turnover of Tk 196 million or 225 per cent of the total transaction The banks share price inched up 055 per cent to close at Tk 1830 IDLC also made its way to the top ten turnover chart with shares of Tk 188 million changing hands Its share price closed 223 per cent higher at Tk 9150 Source httptodaythefinancialexpresscombdstock-corporateten-cos-grab-32pc-turnover-on-dse-1510245290date=10-11-2017

FOREIGN INVESTMENT HIKE INFO DRIVES MODERATE GAINS ON DSE The Dhaka bourse Thursday closed the session posting a moderate rise in the broad index and turnover amid mixed performance displayed by major sectors On the day most of the major sectors declined but the turnover crossed Tk 80 billion-mark after two sessions on Dhaka Stock Exchange (DSE) mainly because of investors increased participation in the banking sector According to a market review of International Leasing Securities positive momentum in some big-cap stocks especially from bank food and engineering sectors helped the bourse to close in green The market started the session with a positive note and the DSE broad index DSEX witnessed little ups and downs before closing higher According to AT Capital Partners the market remained sideways till the midsession The DSEX rose again in the second half of the session and closed at 61936 up by 345 points The shariah based index DSES and blue chip index DS30 also rose marginally The turnover stood at above Tk 870 billion which was 1370 per cent higher than the turnover of the previous session The confident drive was initiated by the investors buying spree riding on the news of doubling net foreign investment in stocks year-on-year in the first ten months of 2017 said the International Leasing SecuritiesAmong the gaining sectors bank advanced 08 per cent and engineering 03 per cent Of the losing sectors pharmaceuticals amp chemicals declined 11 per cent telecommunication 05 per cent and textiles 09 per cent The banking sector grabbed 384 per cent of the market turnover at the premier bourse DSECity Bank topped the turnover chart with a value of Tk 553 million followed by Dhaka Bank LankaBangla Finance BRAC Bank and Keya CosmeticsReckitt Benckiser (Bd) limited topped the gainers chart with a rise of 624 per cent to close at Tk 18456 while Quasem Drycells was the worst loser after declining 1235 per cent to close at Tk 8230 Source httptodaythefinancialexpresscombdstock-corporateforeign-investment-hike-info-drives-moderate-gains-on-dse-1510245365date=10-11-2017

Daily News Flash 12th November 2017

35

MORE JAPANESE COMPANIES SEEK TO INVEST IN BANGLADESH Japanese Ambassador to Bangladesh Hiroyasu Izumi has said the Japanese investors are keen to invest in Bangladesh considering the lucrative offer and ideal atmosphere for foreign investment reports BSS The Japanese investors expressed more interest to invest in Bangladesh at recently-held the third round of Public-Private Economic Dialogue between Bangladesh and Japan he said while visiting the Chittagong Export Processing Zone (CEPZ) on Thursday The envoy expressed the hopes that Japanese investment in the Export Processing Zones (EPZs) will increase after the successful dialogue said a press release More and more Japanese companies will come to invest in this country he added General Manager of CEPZ Khorshid Alam maed a PowerPoint presentation highlighting the overall scenario of EPZ as well as Bangladesh Export Processing Zone Authority (BEPZA) Mentioning Bangladesh EPZs as the Bonanza for Investors he said investors from 38 countries have set up industries in the EPZs and invested US $442 billion He informed the ambassador that BEPZA has ensured three layer security system including 24-hour CCTV surveillance in the key points of EPZ and factory premises for the safety of the investors Source httptodaythefinancialexpresscombdtrade-marketmore-japanese-companies-seek-to-invest-in-bangladesh-1510250285date=10-11-2017

Source httpwwwarthosuchakcomarchives388209

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Daily News Flash 12th November 2017

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Source httpwwwkalerkanthocomprint-editionindustry-business20171112564388

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ও ৩০ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111811 - - - -

-

২৭ ১১

১০

( ) ২৮৪

৬ ২৮ ৭ ১৫১

৭৪

ও - ও

ও - ও

ও ৩

৭ ১ ২৩

৯৪৪ ৮৮২ ১০

ও ৪ ৭ ও

৪ ৩৮ ও ১৫ ৪১ ২২ ৭০

২০ ৩৬ ১৩ ও

৪৬ ২২ ২০ ও

১৭ ৩৭১ ও ও

১৭ ও ৪৩ ও

Daily News Flash 12th November 2017

43

৬ ২০ ও ১৬

৩৫ ২০ ২৭

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111810 - - - - -

ও ও

১৩০ ও ১৪০

৫৫ ও ৯৭ ১১৩

৩৭

৩৪

৬১৯৩ ৬২ ১১৬১৭

৩০ ১৯

ও ও

ও - ও

৪৮ ৩১

১২ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111808 - - - - -

৩৫ ও ১০

ও ( ) ও

১০

ও ও -

২ ৩০০

২০১৪ ও

ও ৭ ২০১৪ ও ২০১৫

৫ ৭ ও ১২ ৮ ২৩

২০১৩ ১ ৪২০ ২০১৪ ১০ ৫ ১ ৫৭০

১৩ ৪ ও ১ ৩৫৮ ১০

২০১৬ ও ৩ ৫ ১ ৩১০ ২০১৪

২০১৬ mdash ২ ১ ঋ

১০ ও ২০১৩

২৯ ৮০ ২০১৪ ৫ ৭ ৩১ ৫০ ২০১৫

১২ ৩৫ ৩০ ২০১৬ ৭ ৩৭ ৮০

Daily News Flash 12th November 2017

44

২০১৪ ২০১৬

৩২ ৩৫ ও ৫০ ১৯

৫৬

১৭ ৪৬ ২০১৪ ২০১৬

৭২ ১০০ ও ১১১

২০১৪ ২০১৬ ১৫ ৬৩

৯১ ১১৪ ও ১১৮ ৮ ২৩

৮০ ৯০ ও

ও -

ও -

ও ও ও

১০ ও

১০ ও ২২

৭১ ১২ ৪২

৩২ ২৬ ও

ও ও

( ) ও

ও ২০২১ ও ও

৫ ১ ১৬

ও ও

Source httpbonikbartanetbanglanews2017-11-12137992 - - -- -

৫০০ ৫০০ ও

ও ৩০ ২০১৭

৫০০ ও ঋ ২০১৮

৩০

১ ২০ ও ১৫০

১১

Daily News Flash 12th November 2017

45

৩০০ ৬০০

( ) ও

১ ২৫ ও ১০

১০ ও

ঋ ও

৩০ ২০১৭ ৩ ও ১২ ও

( ) ২ ১৪ ২ ১

ও ৩০ ১১

( ) ও ও

( - ) ৬৬ ৫৫ ৩০

( ) ৩৪ ৯০

ও ও ও

( ) ও

ও ও ২০১৫ ৩০ ১০ ২০১৬

১২

( ) ৪১ ২০ ও ২৩ ৬০

৫০ ও

২০১৪ ৩০০ ও ১৪৮ ৪৬ ৫০

১৯১ ৬২ ৩৭ ৩১

১২ ৪৫ ৫০ ২৪

ও ( ) ১৬ ৫৩

ও ১৫ ২২

Source httpbonikbartanetbanglanews2017-11-12137966৫০০- - - - -ও -

৬৩

- ও ও

৬২ ৯৪ ৫

৬২

৯০

২০১৪ - -

- ও

২০১৬-১৭ ৫ ৬২ ও ২০১৩-১৪

১২

( ) ৯০

-

ও - - ও -

Daily News Flash 12th November 2017

46

- ও

৬২ ৯৪

২০১৩-১৪ ৭০ ৭৮ ২০১৪-১৫ ৫৪ ২২

২০১৫-১৬ ৩৯ ৩৩ ও ২৬ ২৩

ও ২০১৩-১৪

১২ ৩৬ ২০১৪-১৫ ৫ ৯১ ও ২০১৫-

১৬ ১৭ ৩০ ৫ ৬২

৩০ ২০১৭ ১০

২ ৮৬ ও ৩

ও ২৪ ( )

২৭

১৯৬৪ ১২

৪ ও ও ১৯৭২

ও ( )

ও ৩৪ ৮ ও

৯০

৪৫ ও ৫

১৯৬৪ ১৯৭২ ১৯৮৯

১০০ ও ২৬ ১৬ ২০ ৫৪৩ ৭৭

৫ - ৫১ ১৫ ৬০ ও

৩২ ৯০

Source httpbonikbartanetbanglanews2017-11-11137853 - - - - - -৬৩---

( ) ও

১০

ও ও ও

-

ও ও

ও ঋ ও

ও ২০১৪ ও

ও ও

২০১৩

( ) ও

Daily News Flash 12th November 2017

47

২০১৪

২০১৪-১৬ ও

২০১৪

ও ২০১৪

২০১৫ ২৭ lsquo ও rsquo

ও ও

২০১৬ ২৪

( )

ও ও

- ও

ও ও ১৯৮৩ ২০১৬

ঋ ( ) ৫৬০

৮৬৪

২০১৬ ২০১৯ ও

ও ১৫ ২৫ ৩০ ও ৩০

ও ঋ ও

২০১৬ ঋ ১

৩৪২ ঋ ৬ ৫২ ১২৩

ঋ ২ ৪৪৩ ঋ ১০

৮৪ ঋ ৪০

৭২৬

ও ২০১৬ ৭৪১

৪৫৭

২০৭ ২৪৪

১০ ও

ও ও ও ও ও

Daily News Flash 12th November 2017

48

Source httpbonikbartanetbanglanews2017-11-12137998 - - - - - ও- -

( )

৩০ ২০১৭ ২০

( ) ২ ১ ১ ৫৯ (

) ৩০ ( ) ১৫ ৩৭

ও ২৮ ১১

( ) ২৮

২০১৬ ৩০ ১৮ ২০

২০১৪ ও ২০

১৫ ৩০

১৮ ৮০ ও ৯ ৬০

Source httpbonikbartanetbanglanews2017-11-11137850 - - - -

ফ ৭ ২০১৭-১৮ ৭ ৩ ৭৪

( ) ও

( - ) ১ ১৫০ ৫৮

(২০১৬-১৭) ১ ৭৫ ৩ ৬০ ৭

৩ ১ ১৫৯ ২০ ৭৪

ও mdash

৬ ৬৫ ১৭ ৬৩

mdash ও ও

১৫ ৪১ ২২ ৬৯ ১০

১৯ ৬৬ ১০ ২০ ২২

mdash ও ও ও

৩৯ ৫১ ও ২ ও

১৬ ৪৬ ও ও ৬ ৯৯ ও

৩ ৮৫ ৯ ৯৫

১৯ ৮২

৮০

ও ( )

mdash

Daily News Flash 12th November 2017

49

ও ও

Source httpbonikbartanetbanglanews2017-11-10137755 - - - -৭- - --

ফ - ফ ও -ও

-ও

-ও

২৯-১০-২০১১ ৩ ( ) ২৮-১০-২০১৪

৩ ( ) ২৮-১১-২০১৬

২৮-১০-২০১৭ ৩ ( )

২০১৬-১৫৮১৩৪ ৪৪ ০৭-০৮-

২০১২ ১২(৬) ২ ( ) ৬ ( )

-ও - ও ২ ( )

৬ ( ) ও ও

-ও ৩ ( )

-

ও ও

১৯৯৪

২ ২২-০৫-২০১২ -ও ৩

- -

১৯৯৪

-ও

- ও

( )

১৯৯৪

১৯৯৪ -ও

Source httpwwwsharenews24comindexphppage=detailsampnc=1ampnews_id=6587

Daily News Flash 12th November 2017

50

ফ ফ

১৫ ও

-( ) ও

৪৯

১৬ ৮৫

৫১ ৪৯

৪ ৩৬

১৯১৩

১০০ ও ১৯০১ ১৯৬০

Source httpswwwdailystockbangladeshcom - - - -

- ( -১)

( ) ৮

৩০০ ও

( ) ১৬

- ২২৮ ৪৯ ১৮৩ ২০১৮

( ) ও

১৫০

( ) ও ৪০ ৩০

ও ও

ও ও

Source httpswwwdailystockbangladeshcom - - -

Page 5: Daily News Flash, 12th November, 2017 -  · PDF filebanglalink's revenue falls 4.57pc in q3 ... banks lack remedial strategy while npl rises worryingly

Daily News Flash 12th November 2017

5

ldquoI love music particularly rock music I love Bangladeshi music toordquo he said appreciating the performance of Bangladeshi band Chirkut ldquoI loved that kind of music I used to play drums I can singrdquo He said he is impressed by the eagerness of Bangladeshi people to learn innovate and try new things Source httpwwwthedailystarnetbusinessswitzerland-improving-investment-climate-bangladesh-1489993

TAKING BANGLADESHS SUCCESS STORY TO THE WORLD Before moving to Bangladesh in May among the known business challenges I was well aware of the opportunities and the positive energy for which Grameenphone is legendary in the Telenor Group I was not sure of what we would find in Bangladesh as a country but it has been an incredible experience so far Sure there are issues to be addressed problems to be solved but that is the truth for any market In my view the glass is far more than half full the opportunities far outweigh the challenges The country is experiencing stable macroeconomic indicators over the last 7 or 8 years with a growing middle-class a strong impetus to create economic zones new infrastructure and a couple of very large bridges to change the flow of traffic in the country Bangladesh is a fantastic opportunity for investors And there needs to be a concerted effort from the business community to recapture the narrative about what it means to operate here As a major player in the economy and a company listed on the Dhaka Stock Market Grameenphone too has a role to play in promoting and investing in South Asia -- and Bangladesh in particular More pertinently Grameenphone is a great example of a Bangladeshi business success story In the last 20 years mobile communications have greatly accelerated change in our culture Everybody who gets a phone here gets access to information communication security and education among other things Unarguably mobile is a big equaliser It brings education where education did not exist before it brings trade where trade is difficult it brings access to information and the democratisation of information where it was not available before It even brings avenues of entertainment into peoples lives As the largest operator in Bangladesh Grameenphone has a profound responsibility to be sustainable and profitable and to invest in the society that it serves with a view to bringing about progress and respectful socioeconomic change I strongly feel that one of Grameenphones key objectives is to make the Bangladesh economy more digital and more competitive The importance of 4G for the dream of a digital Bangladesh cannot be understated But in order to realise the true experience much more spectrum should be made available at affordable prices Grameenphones number one chosen role is to allow Bangladesh to continue to be an international competitor and to grow as well as diversify its exports There is incredible entrepreneurial and business talent in this market Their desire to build a better Bangladesh is matched to our desire to facilitate the same by providing services and infrastructure that make a difference Grameenphone is challenging the existing business models in order to provide customers the best tools allowing them to act on their environment interact with each other and transact in the marketplace Enabling these moments where customers act interact and transact is at the very core of the growth opportunity for mobile operators globally and Bangladesh is no different This does not mean we do everything It means that we enable economic growth and digitalisation We create opportunities for others to use networks to build a digital economy that creates value for our customers and grows our own business

Daily News Flash 12th November 2017

6

In addition to providing telecom services the way we do things makes a difference The way we apply our sense of ethics the way we apply our governance the way we apply our code of conduct or our way of work are humble examples of how business can be done We believe these are important contributors to the society that we serve As a corporate citizen of Bangladesh it is on us to contribute to the fabric of the nation We think there is an opportunity for Grameenphone as part of the greater business community to recapture the narrative and play a more active role in promoting the country for foreign investment to stop worrying about things that are going wrong and think about things that are going right With all due respect to our politicians who are expected to extol the virtues of investing in this market when business leaders and foreign investors carry the message that this is a great place to invest it builds greater credibility Grameenphone understands this and we carry and will continue to carry that message everywhere we go I think that as we head into 2018 and beyond there is huge potential still to grow the market and the business Bangladesh is investment-ready and investment-worthy Source httpwwwthedailystarnetbusinesstaking-bangladeshs-success-story-the-world-1489999

NBR PLANS TO LOWER FLAT REGISTRATION COST The tax administrator plans to reduce the flat registration cost and ease the complexities related to value added tax to give a boost to the real estate sector The National Board of Revenue is also finding ways to lessen the pressure on the realtors at the time of enforcing the new VAT law in July 2019 said Md Nojibur Rahman chairman of NBR Rahman spoke in a meeting with the leaders of the Real Estate and Housing Association of Bangladesh (REHAB) at Hotel Purbani in Dhaka yesterday At the meeting the realtors proposed NBR reduce the flat registration cost to 65 percent from the existing 155 percent The government should introduce a secondary market to change the ownership of flats like the market for used cards said Alamgir Shamsul Alamin president of REHAB There should be no registration fee for secondhand or used flats he said The ownership of such flats should be changed hands with only 3 percent tax like the used cars Alamin said He said the registration cost is the highest in Bangladesh among the Saarc countries The NBR is now giving emphasis on the housing sector to remove the barriers the realtors have long been facing at the time of selling flats he said Currently buyers have to spend 155 percent of a flats cost for registration which includes 4 percent gain tax 3 percent stamp fee 2 percent registration fee 2 percent local government fee and 45 percent VAT Flat sales have decreased by 60 percent in recent times due to high registration costs while the rate of launching new projects has declined by 75 percent Alamin said The association also proposed a cut in the existing 35 percent corporate tax for developer companies to help them raise their paid-up capital he said The REHAB has recently increased the paid-up capital ceiling to Tk 1 crore from Tk 10 lakh for a developer to get a membership of the association Alamin said The higher paid-up capital will increase investment in the sector he said The finance minister has asked the revenue authority to work on how to reduce the flat registration cost said Jahangir Hossain a member of the NBR A panel has also been formed to work on it he said Currently REHAB members are building around 15000 to 17000 flats every year according to the organisation

Daily News Flash 12th November 2017

7

Source httpwwwthedailystarnetbusinessnbr-plans-lower-flat-registration-cost-1489987

SOCIAL BUSINESS IS OUR FUTURE Les Canaux a historic building in Paris has officially begun its journey as Social Business House in order to promote social business and the social economy in the French capital Mayor Ann Hidalgo and Nobel Laureate Prof Muhammad Yunus together launched the social business house on Thursday Yunus Centre in Dhaka said in a statement yesterday Last year the mayor announced that the historic building will be dedicated to become the home of social business and the social economy for Paris Built in 1882 the building served as the administrative office of the Canals of Paris It is located on the 19th district of Paris which is a very vibrant neighbourhood attractive to young people Nicolas Hulot deputy prime minister of France and environment minister attended the launching ceremony as the chief guest A group of dignitaries was given a guided tour of the facilities of the social business house The house has been refurbished where all its decor carpets furniture and fittings are made from recycled materials notably ocean plastic waste paper and waste wood Yunus Centre Paris also located in the same building was also opened Yunus Centre Paris is now a registered legal entity in the city Speaking on the occasion Mayor Hidalgo said she is committed to social business and she wants to make Paris as the social business capital of the world and turn Paris as the social business city The mayor emphasised that social business is the future of the world ldquoIt is the future of humanity and it is the future of the planetrdquo She said that the present system is not sustainable Hulot highlighted that social business and the work that Les Canaux has set for itself is the most powerful way to move forward Prof Yunus said social business is like a bug a friendly bug that infects everyone who comes into contact with it because selflessness exists in every individual Source httpwwwthedailystarnetbusinesssocial-business-our-future-1489984

BANGLALINKS REVENUE FALLS 457PC IN Q3 Banglalinks revenue in the third quarter of the year declined 457 percent to Tk 1170 crore -- the lowest in nine quarters -- due to stiff competition and the growing tendency among subscribers to use multiple connections But it was not disclosed if the operator made any profit during the quarter in the financial report released by its parent company Veon on Thursday Banglalinks data revenue rose 28 percent to Tk 170 crore in the third quarter of the year on the back of acceleration of active data customer growth of 171 percent year-on-year Customer per data usage more than doubled to 523 megabytes a month Fuelled by aggressive customer acquisition campaigns Bangla-links subscriber base widened 84 percent year-on-year in the quarter taking the total tally to 314 crore and reversing the negative trend of the previous quarter Banglalinks gross income decreased and customer base shrank meaning its average revenue per user declined 86 percent year-on-year to Tk 121 The operator lost 38 lakh connections during last years SIM re-verification process As a result its earnings dropped said a senior official of the operator The report also said Banglalink is exploring alternatives to improve its capital structure ahead of 4G spectrum auction likely to take place in the first half next year as the operator would have to spend heavily to buy spectrum and roll out 4G service

Daily News Flash 12th November 2017

8

Veon a multinational telecom company headquartered in Amsterdam said it is evaluating all options to improve Banglalinks capital structures ldquoThe proceeds from any such activity may be used for refinancing of existing debt and general corporate purposes (including capital expenditures)rdquo said the financial statement without giving any specifics Jean-Yves Charlier chief executive officer of Veon had told reporters in Dhaka in July that Banglalink is ready to sell all of its 9000 towers to third parties in order to pool resources to invest to improve network quality The intention was made clear after Bangladesh Telecommunication Regulatory Commission decided to award three licences to manage mobile towers and separate telecom business from operators network infrastructure Banglalink is keen to invest $1 billion over the next three years to improve its service quality as well as support the governments Digital Bangladesh vision Since inception the countrys third largest mobile operator by subscriber base has invested over $251 billion in Bangladesh and contributed $24 billion to the national exchequer The operators 3G coverage reached 70 percent population Source httpwwwthedailystarnetbusinessbanglalinks-revenue-falls-457pc-q3-1489996

FORTY LOCAL COMPANIES TO ATTEND TEXWORLD PARIS Forty Bangladeshi textile and garment companies will participate at Texworld Paris on February 11-14 next year Noman Group has been chosen as an elite exhibitor and given space in the premium area of the show said a statement from Messe Frankfurt the organising company Companies from other countries such as India Pakistan China Myanmar Nepal and Cambodia will also take part ldquoWith such a wide range of countries the show is the most important event for sourcing apparel items Buyers come to the show expecting a wide variety of prices and qualityrdquo the statement said Texworld Paris hosts more than 1000 exhibitors and offers a rich variety of products to professional buyers from all over the world It is particularly the best place to meet buyers from all over Europe including the UK the Netherlands Germany and Turkey The Export Promotion Bureau (EPB) of Bangladesh will take part in the show with a limited number of booths The EPB is providing discounts with a garment booth costing Tk 300000 and a fabric booth Tk 475000 French designer Eymeric Francois along with Texworld consultants Louis Gerin and Gregory Lamaud will organise a Bangladesh Fashion Show in Paris during the event Gerin and Lamaud have been working with Texworld for over 10 years and have been awarded the prestigious Golden Needle Award from ESMOD International Paris Apparel Sourcing Paris the number one European trade fair for worldwide apparel sourcing will also take place at the same time and location Source httpwwwthedailystarnetbusinessforty-local-companies-attend-texworld-paris-1489975

STANCHART TOP OFFICIAL IN TOWN Anna Marrs regional chief executive officer of Standard Chartered Bank for Asean and South Asia has arrived in Dhaka for an official visit During the visit she will meet with some of the banks key stakeholders regulators and clients the bank said in a statement

Daily News Flash 12th November 2017

9

Her visit comes following recent changes in the banks senior management with Naser Ezaz Bijoy being appointed as the CEO of Standard Chartered Bangladesh Bijoy replaced Abrar A Anwar who took charge of the banks operations in Malaysia ldquoAnnas visit reiterates the Groups strong commitment to drive commerce and prosperity in Bangladesh and aid the development of the nations financial sectorrdquo said Bijoy in the statement ldquoAs the oldest financial institution in the country with a heritage of over 112 years and deep local knowledge we remain firmly committed to being a partner in progress to our nationrdquo Marrs is also the CEO of Standard Chartereds commercial and private banking business globally She joined Standard Chartered as group head of strategy and corporate development in January 2012 In her role as the head of strategy Marrs led reviews of the banks businesses globally with notable projects focusing on Nigeria China and India Prior to joining Standard Chartered Marrs was a partner in McKinsey amp Companys banking practice She started her career at DE Shaw a New York-based investment firm Marrs holds an MBA from London Business School and an undergraduate degree from Northwestern University in Chicago Source httpwwwthedailystarnetbusinessstanchart-top-official-town-1489969

EXPORTS SPRING BACK

Exports bounced back in the month of October fetching $284 billion on the back of higher shipments of apparel products ldquoYes garment export is rebounding after a slowdown over the last few monthsrdquo said Siddiqur Rahman president of the Bangladesh Garment Manufacturers and Exporters Association Garment shipments which typically fetch 82 percent of the export earnings brought home $229 billion last month up 4136 percent from the previous month and 602 percent from a year earlier ldquoI hope garment shipments will only increase from here onwards as the peak season is coming uprdquo he added Octobers receipts are higher than the previous months by 399 percent and the previous years by 637 percent according to data from the Export Promotion Bureau The amount which beat the target of $268 billion set by the commerce ministry for the month takes the tally so far in the fiscal year to $1151 billion In the first four months of fiscal 2017-18 leather and leather goods shipment the second largest export earning sector after garment declined slightly It raked in $42844 million down 002 percent from a year earlier But jute and jute goods the next big export earner saw its receipts soar 1646 percent to $34501 million during the period The sectors prospects on the global stage brightened after the long-delayed diversification of the product range and the higher demand for Bangladeshi made jute yarn for carpets and rug manufacturing in Turkey and some Middle-eastern destinations according to industry people Moreover jute exports to Japan and Russia are increasing due to higher demand of natural fibre-

Daily News Flash 12th November 2017

10

made products there exporters said Home textile exports increased 2037 percent year-on-year to $26079 million while the shipment of agricultural products like vegetable fruits spices cut flowers grew 2022 percent to $20321 million Frozen fish live fish and shrimp export increased 1541 percent to $22691 million which is 3721 percent higher than the target for the period Shrimp exporters said they have been receiving better prices from buyers as the demand for the black tiger variety of shrimp increased in the western world Last year shrimp exporters received $550 to $650 for a pound of shrimp but this year they are receiving between $750 and $8 according to exporters Pharmaceuticals exports grew 1731 percent year-on-year to $3219 million and furniture exports 1881 percent to $1415 million Source httpwwwthedailystarnetbusinessexports-spring-back-1489108

EXPORTERS SEEK LONG-TERM TAX ENERGY POLICIES Exporters yesterday demanded long-term and stable tax and energy polices such that they can make their future investment plans accordingly ldquoWe need a long-term roadmap from the government on taxes and energy prices and supplyrdquo said Fazlul Hoque former president of Bangladesh Knitwear Manufacturers and Exporters Association Every year before the budget the National Board of Revenue increases the source tax on export receipts only to bring it down later following requests from businessmen or under political pressure he said For instance the government has been importing liquefied petroleum gas for supplying to the industrial units But it is not clear yet how and when the gas would be supplied to the industrial units he said ldquoHowever it is very simple to fix the rate for the long term so that the businessmen can predict their expenditure and plan for futurerdquo Hoque said at a roundtable on the export potential of Bangladesh Bangla daily the Prothom Alo and banking giant HSBC jointly organised the discussion at the newspapers office in Dhaka where a minister exporters bankers manufacturers and entrepreneurs spoke Siddiqur Rahman president of Bangladesh Garment Manufacturers and Exporters Association echoed Hoques views He also complained about the poor state of the premier Chittagong port and airport in Dhaka Not only the sea port and airport the poor state of the Dhaka-Ashulia highway is also responsible for the bad transportation system The truckers demand higher fares because of the rundown roads between Dhaka and Ashulia-Savar he said Subsequently he called for the highways to be expanded into six lanes as hundreds of garment factories are located on both sides of the road David Hasanat chairman and chief executive officer of Viyellatex Group a leading garment exporter said the garment sectors success stories should be spoken of more ldquoWe should also continue with the PR initiative to carve out a positive picture of the countrys successful garment sectorrdquo he added The exporters of Bangladesh are responsible for not only driving economic growth but also for establishing the Bangladesh brand across the world said Francois De Maricourt chief executive officer of HSBC Bangladesh Muhammad Shohiduzzaman country head of global trade and receivables finance of HSBC Bangladesh said the popularity of export through open accounts system has increased worldwide due to simplicity of the process Bangladesh can also adopt it instead of the time-consuming and traditional letters of credit system he said

Daily News Flash 12th November 2017

11

Saiful Islam president of Leathergoods and Footwear Manufacturers and Exporters Association of Bangladesh (LFMEAB) said the condition of the customs department at the Chittagong port has worsened Customs officials take a lot of time to scrutinise the imported goods meant for manufacturing in the factories Islam said adding that the Chittagong port should have a contingency plan to avoid any kind of sudden deterioration in the system Abu Taher former chairman of the LFMEAB said the global market size of leather goods is $240 billion and in a few years time China will be importing another $100 billion worth of leather and leather goods and footwear ldquoSo we have a lot of opportunity to export leather goods worldwide We need export diversificationrdquo Taher said The demand for diversified jute goods like yarn has been increasing worldwide so the scope for jute and jute goods exports is also rising worldwide said Mahmudul Haque managing director of Sadat Jute Industries Limited ldquoWe need the governments support to make the best of this global opportunityrdquo he added MA Mannan state minister for finance and planning said sometimes the governments activities are stopped through filing writ petitions in the court ldquoThis is one of the major reasons for the slow progress of the governments development projectsrdquo he added Abdul Qayyum associate editor of the Prothom Alo moderated the roundtable Source httpwwwthedailystarnetbusinessexporters-seek-long-term-tax-energy-policies-1489123

DOLLAR SUDDENLY BECOMES DEARER

A frequent traveller who often buys foreign currency from an international bank in Dhaka was charged about Tk 86 for a US dollar on Wednesday Just a month ago he bought a dollar for Tk 83 This sudden rise in dollar price might not make much of a difference to individuals who purchase foreign currency in small amounts and infrequently but for importers who have to settle huge bills it is a major blow For instance if the price of a dollar goes up by even Tk 1 the importer has to bear an additional cost of Tk 10 lakh for $1 million Presently the bills for collection sell rate (at which import payments are made) of a dollar hovers around the Tk 83-mark and the rate goes up further for foreign banks that dominate the currency market The situation has forced the Bangladesh Bank to intervene sitting down with the banks and treasury officials twice in the last two weeks other than selling greenbacks Bankers blamed the depreciation of the local currency on the mismatch between demand and supply of the dollar

Daily News Flash 12th November 2017

12

Remittance and exports the two major sources of foreign currency for Bangladesh are in the slow lane while imports have ballooned Yesterday the inter-bank exchange rate of the US dollar stood at Tk 8095 up from Tk 7849 a year earlier The central bank has already sold $126 million to banks this month to halt the depreciating trend of the taka according to a Bangladesh Bank official ldquoBut it is not yielding the desired result as the demand for the US dollar continues to riserdquo From July 1 to November 9 the central bank has sold $440 million to banks In contrast it sold $175 million and purchased $193 billion during the course of fiscal 2016-17 Some banks are now trading the US dollar with each other bypassing the inter-bank exchange rate set by the central bank meaning that they completed the transaction beyond the rate the BB official said The central bank has put a cap on the US dollar at inter-bank exchange rate plus Tk 2 on April 27 in a meeting with the Association of Bankers Bangladesh with a view to keeping the market stable Besides on Monday it warned a number of banks for such unethical practice and asked them to strictly follow the inter-bank rate to settle foreign exchange transactions among them ldquoSome banks had secretly struck up deals between themselvesrdquo said Md Arfan Ali managing director of Bank Asia adding that the banks were forced to settle transactions at the higher rate because of the scarcity of the US dollar Banks usually do not get greenbacks from the central bank which compelled them to settle the deal avoiding the inter-bank rate said Syed Mahbubur Rahman managing director of Dhaka Bank Subsequently he urged the government to take initiatives to increase export earnings and remittances to ensure steady supply of the US dollar ldquoThe current account balance posted a huge deficit in the first quarter of the fiscal year This reflects the existing foreign currency shortagerdquo he added Between the months of July and September the current account deficit stood at $179 billion in contrast to $539 million in the surplus a year earlier according to data from the central bank During the period the trade deficit widened to $365 billion from $156 billion a year earlier Source httpwwwthedailystarnetbusinessdollar-suddenly-becomes-dearer-1489096

POLICY SUPPORT NEEDED TO DIVERSIFY EXPORTS ANALYSTS The government should extend its policy support beyond the garment sector in order to diversify exports said experts yesterday ldquoWe will have to give importance to various promising sectors which are apparently not visible like the garment sector to diversify exportsrdquo said Prof Wahiduddin Mahmud an eminent economist He said the government would have to provide subsidies to small sectors mostly manufacturing industries to carry on the existing export growth momentum He was speaking at the Bangladesh Enterprise Institutes stakeholder consultation workshop on ldquoExport Diversification Challenges and Prioritiesrdquo IFIC Bank organised the programme at its headquarters in Dhaka Commerce Minister Tofail Ahmed said Bangladesh would be able to reach its export target of $60 billion by 2021 Prof Mahmud said the manufacturing sector should be focused to make the countrys growth export-led Otherwise it would not be possible to maintain the current share of exports to the GDP after two or three years Salman F Rahman vice-chairman of Beximco Group who chaired the workshop said the government will have to extend the bonded warehouse facilities to all sectors and give cash incentives to small sectors

Daily News Flash 12th November 2017

13

He said the government is cutting various policy supports including cash incentive for the garment sector ldquoBut it is not the right time to discontinue the incentivesrdquo The businessman urged the government to continue its support so that the garment sector can maintain its growth momentum Mustafizur Rahman a distinguished fellow of the Centre for Policy Dialogue said intra-garment diversification needs to continue to boost exports He said the exchange rate should be kept at the level that helps exporters The economist said pharmaceutical leather and light engineering sectors have huge opportunities to contribute to exports if they receive supports Allah Malik Kazemi change management adviser to the Bangladesh Bank said the global slowdown has affected the exporters He said the central bank keeps the interest of exporters in mind while managing the foreign exchange market Md Nojibur Rahman chairman of the National Board of Revenue said there is political commitment from the government to stand by exporters He emphasised export diversification saying the NBR also has a role to play by way of supporting small sectors Kazi M Aminul Islam executive chairman of the Bangladesh Investment Development Authority said the government would have to put more emphasis on agriculture and manufacturing sectors to diversify exports He said the garment sector grew fast riding on the policy support provided by the government in areas such as bonded warehouse exchange rate and incentives ldquoOther promising sectors should be provided the same policy support so that they can growrdquo he said Mohammad A Razzaque project leader of the BEI said it is stated that the non-garment exports will not grow because of the policy support provided to the garment sector He disagreed with the argument saying promoting export diversification and maintaining the garment sector dynamism must go hand in hand BEI President Farooq Sobhan also spoke Source httpwwwthedailystarnetbusinesspolicy-support-needed-diversify-exports-analysts-1489081

DIGITAL HUNDI SHRINKS REMITTANCE FLOW THROUGH BANKS BIBM Hundi traders have been fast transferring remittance to relatives of expatriate Bangladeshis through mobile services which have resulted in a fall in the amount of money sent through banking channels This was reflected in a research report by the Bangladesh Institute of Bank Management (BIBM) The report titled ldquoIncreasing flow of remittance through banking channel Bangladesh contextrdquo was placed at a seminar at the BIBM auditorium yesterday A six-member team led by BIBM Director Shah Md Ahsan Habib prepared the report According to the report remittance flow decreased in recent times all over the world but the fall in Bangladesh was more as it accounted for a considerably high amount of remittance generated in total The report identified several reasons for which remittance was plunging including bank branches being distant from the houses of remitters relatives The report also mentioned a lack of good behaviour on the part of bankers requirement of various documents and weekly holidays as causes BIBM Supernumerary Professor Yasin Ali said the scope of mobile banking has much increased in the last five year but banks have failed to utilise the channel He said banks have to provide remitters the opportunities which were offered by unofficial channels otherwise inflow of remittance through the banking channel would plummet

Daily News Flash 12th November 2017

14

Another BIBM Supernumerary Professor Helal Ahmed Chowdhury said the cost of sending remittance through banking channels was higher the effect of which was falling on remittance inflow Chowdhury said an initiative has to be taken to slash the cost of transferring remittance to increase the inflow through banking channels SK Sur Chowdhury deputy governor of Bangladesh Bank said remittance flow to Bangladesh declined by 1110 percent in 2016 due to lower oil prices and fiscal policy tightening in the Gulf Cooperation Council countries It is hoped that awareness programmes would encourage non-resident Bangladeshis to come forward to know the importance of channeling their money through banks he said Chowdhury also said to ease the flow in the formal channel Bangladesh Bank has reduced the security deposit requirement for exchange houses abroad to establish drawing arrangements with local banks In addition to their own bank branches and ATM booths banks are now using the branch networks of microfinance institutions and post offices as sub agents for remittance distribution Remittances are also distributed through agent banking such as that provided through Singer Bangladesh Limited outlets he said Furthermore Bangladesh Bank has established a separate ldquoFinancial Integrity and Customer Interest Protection Departmentrdquo to handle complaints and suggestions of customers or stakeholders at home and abroad to ensure smooth and hassle free services The ldquo16236rdquo hotline is to address customers hassles if any He said at the moment no bank can take more than two days in reaching remittance to designated beneficiaries Source httpwwwthedailystarnetbusinessdigital-hundi-shrinks-remittance-flow-through-banks-bibm-1489075

JOINT VENTURE TO PRODUCE 600MW IN MATARBARI

A joint venture between Japans Mitsui amp Co and a state-run Bangladeshi company is going to set up a liquefied natural gas-based power plant at Matarbari in Maheshkhali upazila to produce 600 megawatts of electricity Coal Power Generation Company Bangladesh Ltd yesterday signed a primary agreement with Mitsui amp Co to this effect in Dhaka on Wednesday according to a statement of the power and energy ministry The companies will have 50-50 ownership in the joint venture that will complete the project by 2021 The government has taken initiatives to import a huge amount of LNG from next year Both land-based and floating LNG terminals will be set up The government has approved two floating LNG terminals each of which will supply 500 million cubic feet of gas per day In July state-run Petrobangla and US-based Excelerate Energy signed the final deals to set up Bangladeshs first LNG terminal in Maheshkhali which will supply gas to the national grid from early 2018 The government also awarded Summit Group the work to set up the countrys first floating LNG terminal also in Maheshkhali This one is due for commissioning by next October Source httpwwwthedailystarnetbusinessjoint-venture-produce-600mw-matarbari-1489069

Daily News Flash 12th November 2017

15

EXPORTS TO EU STATES BUT GERMANY POST ENCOURAGING GROWTH

Bangladeshrsquos export earnings from European countries except Germany registered a significant growth in the July-October period of this financial year 2017-18 riding on an excellent performance of readymade garment products According to the Export Promotion Bureau data exports to major European countries registered double digit growth in the four months of FY18 while the RMG export to Germany fell in the period compared with that in the same period of last fiscal year The EPB data showed that Bangladesh suffered a negative export growth in two promising markets mdash Japan and China mdash in the July-October period of FY18 Exporters said that earnings growth in the EU markets increased in recent months as the euro appreciated against the dollar They also said that buyers and brands cut import orders from Bangladesh for their Chinese stores that caused the negative growth Export earnings from the UK the second largest export destination for Bangladesh in the EU grew by 2084 per cent to $134 billion in the four months of FY18 from $111 billion in the same period of FY17 Earnings from apparel products fetched $125 billion with 2227 per cent growth in the period Export earnings from Spain in July-October in FY18 grew by 2581 per cent to $80102 million from $63670 million in the same period of FY17 Export earnings from the Netherlands rose by 3416 per cent to $40108 million in the four months of FY18 Bangladesh earned $58097 million from France with 270 per cent growth and $46374 million from Italy with 1206 per cent growth Exports to Germany the second largest export destination for Bangladesh in the July-October period of FY18 stood at $186 billion the same amount earned in the July-October period of FY17 Anwar-ul-Alam Chowdhury Parvez former president of the Bangladesh Garment Manufacturers and Exporters Association said exports depend on season and the earnings from Germany would increase from November RMG export earnings fell by 039 per cent to $173 billion from $174 billion in the market data showed lsquoWe have to wait to identify the reasons for the stagnancy of growth in the German market Hopefully the export would rebound in the market in the coming monthsrsquo Md Fazlul Haqe former president of the Bangladesh Knitwear Manufacturers and Exporters Association told New Age on Saturday

Daily News Flash 12th November 2017

16

Export earnings from the US the largest destination for Bangladeshrsquos exports in the July-October period of FY18 grew by 228 per cent to $187 billion from $183 billion in the same period of FY17 Apparel export to the market grew by 244 per cent to $168 billion from $164 billion The EPB data showed that the countryrsquos export earnings from Japan in the July-October period of FY18 fell by 394 per cent to $33390 million from $34760 million in the same period of FY17 Export earnings from China in the four months of the FY18 decreased by 2242 per cent to $22475 million from $28971 million in the corresponding period of last fiscal year Parvez said that the domestic consumption in China slightly decreased in recent times and global retailers also cut import orders from Bangladesh for their Chinese stores due to congestions in the Chittagong port lsquoWe are losing many orders from global brands as we have been failing to meet lead time due to the problem in the portrsquo he said Source httpwwwnewagebdnetarticle28200exports-to-eu-states-but-germany-post-encouraging-growth

REHAB LEADERS DEMAND CUT IN TAXES Realtors on Saturday urged the government to cut tax rates at different levels of the housing sector to give a much-needed boost to the sector They also requested the government not to raise question over the source of the minimum paid up capital (Tk 1 crore) a real estate company requires to be a member of the Real Estate and Housing Association of Bangladesh REHAB leaders made the requests at a joint meeting with the National Board of Revenue held in a city hotel on the day NBR chairman Nojibur Rahman attended the meeting as chief guest while REHAB president Alamgir Shamsul Alamin senior vice-president Nurun Nabi Chowdhury Shaon and vice-president Liakat Ali Bhuiyan were also present among others Alamgir said that the REHAB made it mandatory for its member companies to have Tk 1 crore paid up capital and he requested the government not raise question over that money The government earlier made it mandatory for all developer companies to be REHAB members Alamgir also urged the government to form a re-financing fund worth Tk 20000 crore under Bangladesh Bank to provide low-interest and long-term loans to the potential apartment buyers He demanded apartment registration fee to be reduced to 65 per cent from the existing 155 per cent mentioning that other SAARC countries maintained it at 4-7 per cent Alamgir said that the government was losing huge revenue due to the high apartment registration fee as buyers were showing unwillingness to register their apartments at high cost Nurun Nabi urged the government to meet the REHABrsquos longstanding demands to save the housing sector from ruination He also called for reducing corporate tax of non-public traded companies to 20 per cent from the existing 35 per cent He sought a cut in the tax on signing money to 75 per cent from the existing 15 per cent Alamgir also appealed for reducing tax rate on apartment resale to 3 per cent He also sought total 15 per cent tax and VAT on professional services like engineering and architecture from the current 27 per cent Nojibur said that an NBR-REHAB joint working group would be formed to work together for the betterment of the housing sector He also requested REHAB leaders to provide opinions on the income tax law that would be amended soon He assured them that the NBR would consider their demands Source httpwwwnewagebdnetarticle28201rehab-leaders-demand-cut-in-taxes

Daily News Flash 12th November 2017

17

BrsquoDESH BHUTAN START TRADE DATA SHARING IN JAN Bangladesh and Bhutan have decided to start exchanging export-import data from January 1 to verify trade documents to check duty evasion and other customs-related offences through misdeclarations of goods and prices during trades between the two countries The data will be mailed in the first week of the subsequent month according to the decision taken at the 3rd Bangladesh-Bhutan joint group of customs meeting held in November 7-8 in Thimphu the capital of the Himalayan kingdom Initially both sides will exchange export data of three commodities and gradually the scope will be expanded to all the export items Delegations from the both sides also agreed to boost the existing trade volume between the two countries and improve infrastructure at land customs stations of Bangladesh and Bhutan to facilitate border trade Bhutan informed the meeting that they were establishing a mini dry port at Phuentsholing which would boost border trade between the countries National Board of Revenue member (customs audit modernisation and international trade) Khondaker Muhammad Aminur Rahman and Bhutanrsquos Department of Revenue and Customs director Yonten Namgyel led the respective delegations at the meeting Following a request from Bangladesh Bhutan agreed to put necessary information including country of origin name and address business identification number and tax identification number of importer on the export packages as per the current Import Policy Order of Bangladesh Both sides also agreed to hold ground-level customs meetings twice a year alternately at Phuentsholing of Bhutan and Burimari of Bangladesh to resolve customs-related problems smoothly The two countries also decided to raise the issue of improving the infrastructure at Changrabandha (Indian LCS opposite to Burimari of Bangladesh) and Jaigaon (Indian LCS opposite to Bhutanrsquos Phuentsholing) to ensure smooth border trade between the countries Bangladesh also requested the landlocked kingdom to use Nakugaon-Dalu-Gelephu route for their imports and exports as Bangladesh has decided to upgrade Nakugaon LCS as a trade hub for border trade with India and Bhutan Bangladesh side also underscored the potentials of use of riverine routes as mode of transport for export and import of goods Bhutan may also get duty-free market access for limestone powder export to Bangladesh according to the decision of the meeting Mohammad Ehteshamul Hoque NBR first secretary of customs modernisation and international trade on Saturday told New Age that both countries had resolved some small-scale problems to facilitate bilateral trade and committed to further enhancing border trade The planned ground-level meeting of customs officials will also play a role in identifying and resolving bottlenecks in trade between the two nations he said According to the NBR data Bangladesh exported products worth $322 million to Bhutan in the fiscal year 2016-2017 while it imported from the country products worth $3315 million Bangladeshrsquos highest export earnings from the country were $913 million posted in the FY 2011-2012 and the earnings have been declining with fluctuations over the years Bangladeshrsquos major export items to Bhutan are bakery items fruit and vegetable juices tableware kitchenware and toiletry articles of plastics non-alcoholic beverages menrsquos singlets briefs pyjamas medicament mixtures rice aluminium structure and few garment items On the other hand the country imports mainly citrus fruits stone granite dolomite limestone ferro-alloys apple and gypsum from Bhutan Source httpwwwnewagebdnetarticle28202bdesh-bhutan-start-trade-data-sharing-in-jan

Daily News Flash 12th November 2017

18

TAX FAIRS AT ALL ZONES BEGIN TODAY Income tax fair begins today at all income tax zones across the country to provide taxpayers with services in a similar hassle-free atmosphere they got at recently-concluded countrywide weeklong tax fair National Board of Revenue chairman Md Nojibur Rahman on Saturday in a statement said that the decentralised fair at the zones with similar facilities like the weeklong national tax fair would continue till November 30 the last day of income tax returns submission Tax officials will also start issuing income tax ID cards from November 20 to the taxpayers under each tax zone in Dhaka Issuance of ID cards will continue till November 28 There are 31 income tax zones across the country including 15 in Dhaka and four in Chittagong Officials of the revenue board said that the NBR took the decision so that all taxpayers could file their tax returns without any hassle with maximum support from tax officials Initially the NBR planned to issue ID card from November 9 which was deferred due to lack of preparation Source httpwwwnewagebdnetarticle28203tax-fairs-at-all-zones-begin-today

BTRC LIKELY TO LOSE RIGHTS OVER UNUSED BALANCE IN BLOCKED SIMS Mobile phone operators are likely to get relief from paying the government the unused balance in the SIM cards that would be blocked by the telecom regulator for various reasons especially for illegal voice-over internet protocol calls Mobile operators however will have to return the unused balance to its owner if claimed said officials of Bangladesh Telecommunication Regulatory Commission They said that a proposed amendment to the 4G licencing guidelines that would be passed by the telecom regulator in the upcoming commission meeting following instruction from prime ministerrsquos ICT advisor and posts and telecommunication ministry The instruction was made based on a meeting between the mobile phone operators and the government high officials on the proposed 4G licencing guidelines they said As per the BTRC approved draft 4G licencing guidelines that would be revised it was mandatory for all the operators to pay the BTRC the remaining balance amount of the identified illegal prepaid VoIP callers and unsuccessful or fake SIM registration of service connection fund at the time of deactivating them It was also mentioned in the guidelines drafted earlier that there would not be any rights of the mobile network operators over the forfeited account balance of the illegal VoIP callers Whereas it was also mandatory for the operators to pay the remaining balance of such SIM cards within ten days of the following month In case of deactivation of SIM cards for illegal VoIP calls mobile operators would keep the remaining balance while operators would have to pay the balance to its owner if claimed for deactivation of SIM cards for any other reason Such specification about the unused balance would help the operators while the government would lose its rights over the forfeited fund BTRC officials said Such initiative might foil another BTRC move to take stand against the mobile phone operators for non-payment of unused balance in the SIM cards which were blocked by the telecom regulator for various reasons Countryrsquos leading mobile phone operator Grameenphone in February this year deposited Tk 733 crore to the telecom regulator against the unused balance in the connections that were blocked between 2008 and 2014

Daily News Flash 12th November 2017

19

While other operatorsmdash Banglalink Robi Airtel Citycell and Teletalk mdash were yet to pay any fund to the commission in this regard Airtel formerly known as Warid Telecom has already merged with Robi in November 2016 Apart from the unused balance issued the government acknowledged almost all the issues raised by the mobile phone operators about the 4G licencing guidelines BTRC officials said Source httpwwwnewagebdnetarticle28107btrc-likely-to-lose-rights-over-unused-balance-in-blocked-sims

BONDED WAREHOUSE BACK-TO-BACK LC SHOULD BE OPEN TO ALL EXPORTERS Bonded warehouse facility and back-to-back letter of credit facility should be open for all for the export of all sorts of goods to diversify export products said experts and businesses at a workshop on Thursday They came up with the observation while speaking at a stakeholdersrsquo consultation workshop on lsquoExport Diversification Challenges and Prioritiesrsquo organised by Bangladesh Enterprise Institute at IFIC Tower in Dhaka Commonwealth Secretariat adviser and head of international trade and regional cooperation Section Mohammad Razzaque presented a keynote paper on lsquoRevitalising Bangladeshrsquos export trade Policy issues for growth acceleration and diversificationrsquo Razzaque in his presentation said that there should be alternatives of diversifying export destinations and products to achieve $60 billion export target by the year 2021 Although the country has continued to achieve more than 6 per cent growth export to GDP ratio has declined a bit in last couple of years and to increase the ratio for sustaining economic growth there was no alternative to increasing exports he said To facilitate export diversification and ensure equal facility treatment among the exporters all the sectors should get bonded warehouse facility as well as back-to-back letter of credit facility that helped the countryrsquos readymade garment sector to grow Razzaque said Salman F Rahman private sector development advisor to prime minister also said that the bonded warehouse and back-to-back LC facilities should be opened for all to support other exporters Suggesting for the continuation of existing facility for the RMG sector Salman also president of BEI said lsquoWe need product diversification for the economic growth but not at the cost of RMG sectorrsquo Former Dhaka University economics department chairman Wahiduddin Mahmud said that the gov ernment should set a broad category and announce subsidy and cash incentives for longer period to help the sectors to contribute to exports as well as economic growth Speaking about the exchange rate issue the eminent economist also said lsquoAs balance of payment has turned negative the government should not try to control the exchange rate anymorersquo Centre for Policy Dialogue distinguished fellow Mustafizur Rahman said lsquoApart from diversification of other products intra-RMG sector product diversification is also important as we have created a strong foothold in the sector and itrsquos a one trillion dollar marketrsquo Speaking about the repeated change in policy Federation of Bangladesh Chambers of Commerce and Industry president Shafiul Islam Mohiuddin said lsquoElectricity price has been doubled with just a so-called hearing and that led our foreign partners to backtrackrsquo Speaking about the 070 per cent source tax imposed on apparel sector commerce minister Tofail Ahmed said rsquoAlthough we cannot do a lot for the sector but such tax should not remain on the sectorrsquo Source httpwwwnewagebdnetarticle28039bonded-warehouse-back-to-back-lc-should-be-open-to-all-exporters

Daily News Flash 12th November 2017

20

GOVT TO SPEND FUND FOR TOBACCO CONTROL MEASURES CAMPAIGNS The government has finally framed a policy on the use of health development surcharge it imposed on tobacco products three and half years ago The health and family welfare ministry on Wednesday issued the gazette notification of Health Development Surcharge Management Policy-2017 identifying 16 sectors for spending the fund on The fund will mainly be used for limiting the demand for and supply of tobacco products financing tobacco control activities conducting researches and campaigns and operating Tobacco Tax Cell of the National Board of Revenue The revenue board in July 2014 imposed 1 per cent surcharge on all tobacco products both locally produced and imported ones aiming to spend the fund for implementing the programmes to control and discourage the use of tobacco products and prevent tobacco-related diseases In the last three fiscal years (2014-15 2015-16 and 2016-17) the tax authority collected around Tk 900 crore as health development surcharge from tobacco products including cigarette bidi gul zarda and other smoking and chewing tobacco products But the fund remains idle as the health ministry has not got the access to the fund over the years as there was no policy on how to the money be used Officials of the revenue board said that formulation of the policy had paved the way for utilising the fund for tobacco control and prevention of tobacco-related diseases They said that every year around Tk 300 crore would be added to the fund According to the policy the collected surcharge will be used for financing national tobacco control activities operation of the NTCC under the ministry campaigns in the mass media on health hazards of tobacco products and tobacco control and providing trainings to stakeholders The fund will also be used for setting up National Quitline a hotline to help people quit tobacco consumption and providing financial and technical support to organisations for implementation of programmes to prevent tobacco-related non-communicable diseases Programmes will also be taken to create awareness among farmers against tobacco cultivation and motivate them to cultivate alternative crops according to the policy According to the policy a Health Development Surcharge Management Committee headed by the health minister will supervise the proper use of the fund The National Tobacco Control Cell will provide secretarial support to the committee Fund from other sources such as possible imposition of any surcharge on products hazardous to health in future and donations from local and foreign sources will also be added to the fund it said The expenditures from the fund will be audited in line with the methodology followed for the other government agencies it said According to the Global Adult Tobacco Survey-2009 some 413 crore people or 43 per cent of the total population of Bangladesh consume tobacco products On the other hand 430 crore people are victims of indirect smoking According to the World Health Organisationrsquos 2004 data 57000 people die every year in Bangladesh suffering from tobacco-related diseases The government has taken an initiative to make the country smoking free by 2040 Source httpwwwnewagebdnetarticle28040govt-to-spend-fund-for-tobacco-control-measures-campaigns

STUDY BLAMES MOBILE HUNDI FOR FALLING REMITTANCES THRU BANKING CHANNEL A study of Bangladesh Institute of Bank Management on Thursday blamed Hundi through mobile financial services including bKash Rocket mCash and UCash for decreasing remittance through banking channel

Daily News Flash 12th November 2017

21

The study conducted by a six-member team identified distance of bank branches delay in receiving money misconduct by bankers submission of various documents weekly holidays of banks and illegal immigrants as the reasons for increasing remittance inflow through mobile Hundi The six-member team headed by BIBM director Shah Md Ahsan Habib presented the study at the seminar presided over by BIBM director general Toufic Ahmad Choudhury held in the auditorium of the institute in the city lsquoIn Bangladesh remittances declined by an estimated 111 per cent in 2016 in the face of lower oil prices and fiscal tightening in the GCC countries Among other reasons use of Illegal channel by the expatriates is doing harm to our countryrsquo Bangladesh Bank deputy governor Shitangshu Kumar Sur Chowdhury said He said that it would not be possible to stop Hundi totally but BB is working to check the transactions through the illegal channel To ease the formal channel BB has reduced the security deposit requirement for the exchange houses abroad to make arrangements for remittances with local banks Shitangshu said The BB deputy governor hoped that Non-Resident Bangladeshis would come forward to know the importance of their money to be sent through banking channels BB former executive director Yasin Ali said that national economy was being hindered due to remittance inflow through illegal channels He suggested using mobile banking facilities for remittance inflow saying that the area of mobile banking expanded many fold in last five years Helal Ahmed Chowdhury former managing director of Pubali Bank suggested bankers to be courteous with bank customers Source httpwwwnewagebdnetarticle28041study-blames-mobile-hundi-for-falling-remittances-thru-banking-channel

POLICY SUPPORT MUST TO DIVERSIFY EXPORT BASKET Speakers on Thursday said that in order to diversify the countryrsquos export basket export-oriented businesses should be given the policy support that has proved highly successful in bringing vibrancy to the countryrsquos RMG sector They were speaking at a workshop styled ldquoExport Diversification Challenges and Prioritiesrdquo organised by Bangladesh Enterprise Institute (BEI) in the auditorium of International Finance Investment and Commerce Bank in Dhaka Dr Mohammad A Razzaque former head of International Trade Policy at Commonwealth Secretariat in London presented a keynote paper in the programme chaired by Salman F Rahman private sector development advisor to Awami League President and Prime Minister Sheikh Hasina Skill development measures may also play a vital part in this regard Salman said export diversification would be possible only when adequate and appropriate policy support is provided to all export-oriented industries Dr Razzaque in his keynote paper suggested revamping and deepening policy support such as providing cash assistance and bonded warehouse facilities to all such industries to improve their export competitiveness He also highlighted the need for further expanding Bangladeshrsquos export basket as its penetration into global export markets in the last decade was very insignificant Eminent economist Prof Wahiduddin Mahmud said ldquoIn addition to providing subsidies and cash incentives to thriving and promising sectors on a long-term basis the government should take measures to strengthen the countryrsquos manufacturing baserdquo

Daily News Flash 12th November 2017

22

Shafiul Islam Mohiuddin president of the Federation of Bangladesh Chambers of Commerce and Industry said the governmentrsquos support is a must to create a strong manufacturing base for export diversification ldquoSkill development measures may also play a vital part in this regardrdquo Addressing the event as the chief guest Commerce Minister Tofail Ahmed said export diversification depends on businessmenrsquos initiatives He however pledged all necessary support from the government for export diversification to meet the countryrsquos $60 billion export target by 2021 BEI President Farooq Sobhan emphasised engaging the private sector in relevant policy discourses to achieve the target ldquoA private sector-oriented policy mechanism is very important as rapid changes are taking place in the global trade landscape Understanding implications and generating timely policy responses to unfolding developments will be meaningful only when the private sector is able to benefit from themrdquo said Sobhan Among others Mustafizur Rahman a fellow at the Centre for Policy Dialogue Kazi M Aminul Islam executive chairman of Bangladesh Investment Development Authority Bijoy Bhattacharjee vice chairman of Bangladesh Export Promotion Bureau and Md Nojibur Rahman chairman of the National Board of Revenue also spoke Source httpwwwdhakatribunecombusinesseconomy20171109policy-support-must-diversify-export-basket

BANKS LACK REMEDIAL STRATEGY WHILE NPL RISES WORRYINGLY Some of Bangladeshs banks dont have in-depth look into the problem of spiraling non-performing loans (NPL) while many others try to frame remedial strategies perfunctorily Such observations came out from studies on banking as well as financial sector at large as the NPL surge worries many quarters One finding shows that around 11 per cent of the countrys banks did not have an in-depth look into the issue of NPLs in the past year despite a growing concern over the problem in the financial arena The recent industry-wide survey also revealed that around 30 per cent of the countrys banks had not assessed their past NPL-reduction strategies at all while 36 per cent did so only on an ad-hoc basis The findings came out from the survey of the Chief Risk Officers at the banks on issues concerning NPL strategy in their institutions Leading banking research and training institution Bangladesh Institute of Bank Management (BIBM) conducted the study The research findings come at a time when the ballooning NPLs is becoming a major issue with the countrys banking industry and also triggering concerns and criticisms As per the central bank data the volume of NPLs had increased by more than 21 per cent to Tk 62172 billion by the end of 2016 swelling from Tk 51371 billion a year before The findings are genuinely surprising as we are struggling to find a bank for which NPL is not an issue in some capacity said Sazib Azad Senior Advisor of BIBM who led the research initiative Furthermore if the bank itself is immune to the impact of NPL even then they need to consider whether they are immune from structural or market-level impacts as well he told the FE However relevant survey results show the potential lack of such considerations as only 10 per cent of bank CROs taking part in the survey said that their banks are addressing potential dependence on market assessment and strategy What is more surprising is that the NPL strategies of around 62 per cent of the banks are not signed off by the boards the survey found

Daily News Flash 12th November 2017

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This is quite striking because given the severity of the non-performing-loan issue the NPL strategy should be signed off by the boards Mr Azad said adding Boards are not only accountable for the health of the banks but are also in position to release resources to get to grips with the issue In addition the survey result also revealed 31 per cent of the banks not communicating their NPL strategy across the bank NPL as an issue needs to be addressed from ground up But the results show that this is not happening at our banks said an expert who was involved with research Meanwhile 25 per cent of the CROs said they were not tracking the implementation and effectiveness of NPL strategy in their banks- something which according to experts is a cause of concern Given how critical an issue NPL exposure is we would expect every CRO to track how the NPL strategy is being implemented its effectiveness and how to improve matters to the Board Risk Committee and the Board the banking experts said Meanwhile the survey results also found that although 94 per cent of the banks had stress-tested their balance sheet in terms of NPL drag this figure drops to 56 per cent while considering the impact to and from the wider economy market and structural aspects It seems that 33 per cent of the banks do not formally consider this aspect with a further 11 per cent not looking at this dimension at all the researchers said Experts also noted that with Basel 3 farther putting capital under pressure sensible banks should dynamically model the impact of key risks to their capital However the survey results show 17 per cent of the banks are not doing so while 31 per cent doing it in a limited manner Asked whether their banks risk-appetite-statement metrics reflected their NPL strategy 36 per cent of the respondents said they do so in a limited capacity while a further 80 per cent are not doing that at all It was also found that 25 per cent of the C-Suites have specific NPL-strategy-related targets while 31 per cent of the CROs have the same Meanwhile when asked whether they consider their NPL strategy to be embedded just over half of them or 52 per cent of the survey participants said Yes This according to experts is clearly not fit for purpose given the severity of the NPL issue facing the banking sector The first step in looking into the NPL issue is to assess internal capabilities to effectively manage NPLs Next external conditions or operating environment needs to be considered Finally the capital implications of the NPL strategy need to be analyzed said Sajib Azad The findings of the survey will be shared with the stakeholders during the next CRO forum of BIBM expected to take place next month where the issue of Risk Culture will also figure high The biggest reason for the swelling of NPL in our banking sector is a lack of good governance To check the ballooning of NPL the internal governance of the banks has to be strengthened above all Director-General of BIBM Toufic Ahmad Choudhury said Meanwhile the survey also found banks tending to consider time-horizon portfolio segment and exposure-level-based targets to be broadly equally important to their NPL strategy In terms of options preferred for reducing NPL banks consider change of exposure type to be most effective (36 per cent) followed by active portfolio reductions (33 per cent) and hold forbearance (31 pe rcent) Source httptodaythefinancialexpresscombdfirst-pagebanks-lack-remedial-strategy-while-npl-rises-worryingly-1510417700

GOVT SEEKS US$183B UNDER 39TH JAPANESE ODA PACKAGE The government has sought around US$183 billion worth of assistance from Japan for bankrolling six development projects officials said Saturday

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Officials at the Ministry of Finance (MoF) said they have already discussed the issue with the Japan International Cooperation Agency (JICA) We are hopeful of receiving funds under its upcoming 39th Official Development Assistance (ODA) package to finance six development projects a senior MoF official told the FE He said a JICA mission in September-October last completed its visit to Bangladesh to explore the possibilities of financing the proposed projects We are hopeful of signing the 39th ODA package with JICA within a couple of months he said After signing the loan deal the largest bilateral donor will start disbursement of funds from the proposed $183 billion aid package for the six development projects the MoF official added The proposed six projects under the 39th ODA package are Matarbari port development Dhaka MRT line-6 construction (phase-III) Dhaka MRT line -5 feasibility study Matarbari ultra super critical coal-fired power plant (phase-IV) Jamuna Railway Bridge construction and Health service strengthening project A senior official of Economic Relations Division said the proposed 39th ODA package will be very useful for Bangladesh as it will be utilised to develop the Matarbari port ongoing Matarbari power plant project conduct feasibility study and detailed design of the MRT line-5 in Dhaka and to construct railway bridge over the River Jamuna All of these projects are very important for the country to ensure smooth transportation and uninterrupted power supply he added Japan is the largest bilateral development partner of Bangladesh Over last 5-6 years it has enhanced its aid with confirmation of more than US$10 billion worth of funds under each of the aid packages In the last 38th ODA package signed in June 2017 JICA provided Yen 178223 billion ($164 billion) for utilising in six development projects on transport infrastructure power and water sector improvement works In June 2016 Japan signed the 37th ODA deal worth $150 billion (17354 billion Japanese Yen) with Bangladesh and in December 2015 it inked the 36th ODA package confirming $12 billion concessional loan for six development projects Under the last 38th ODA package JICA offered $700 million (Yen 76825 billion) for Hazrat Shahjalal International Airport Expansion project $480 million (Yen 5273 billion) for 2nd Kanchpur Meghna and Gumti bridges construction $50 million (Yen 5593 billion) for Dhaka Mass Rapid Transit development project (Line 1) $100 million (Yen 10745 billion) for Matarbari ultra super critical coal-fired power plant $190 million (Yen 20477 billion) for Dhaka underground substation construction project and $110 million (Yen 11853 billion) loan for small scale water resources development project Japan has so far provided Bangladesh with nearly US$12 billion in assistance since the financial year (FY) 1971-72 Source httptodaythefinancialexpresscombdfirst-pagegovt-seeks-us183b-under-39th-japanese-oda-package-1510417739

SUMMIT GROUP ENTITIES TO ISSUE PREFERENCE SHARES WORTH $1250M A subscription closing ceremony to raise capital through issuance of preference shares worth BDT 1000 million (USD 1250 million) for Summit Barisal Power Limited amp Summit Narayanganj Power Unit II Limited was held recently at Pan Pacific Sonargaon Dhaka said a statement LankaBangla Finance Limited acted as the Mandated Arranger LankaBangla Investments Limited acted as the Issue Manager and The City Bank Limited acted as the Agent Account Bank amp Custodian Bank to raise the fund In the event Mr Lt Gen (Retd) Engr Abdul Wadud Managing Director of Summit Barisal Power Limited amp Summit Narayanganj Power Unit II Limited Mr Khwaja Shahriar Managing Director amp

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CEO of LankaBangla Finance Limited Mr Mohammed Nasir Uddin Chowdhury Managing Director of LankaBangla Capital Market Operations Mr Mominul Islam Managing Director amp CEO of IPDC Finance Limited Mr R Q M Forkan Managing Director amp CEO of Bangladesh Commerce Bank Limited Mr Faruq M Ahmed Additional Managing Director of Trust Bank Limited Mr Akthar Hamid Khan Deputy Managing Director of Pubali Bank Limited Mr Arif Hasan Khan Vice President of Modhumoti Bank Limited Mr Mohammad Ibrahim Khalil FCA Vice President amp CFO of Bank Asia Limited and Mr Mahbub Jamil Vice President and Head of Structured Finance of The City Bank Limited along with other senior officials from the companies were present Source httptodaythefinancialexpresscombdstock-corporatesummit-group-entities-to-issue-preference-shares-worth-1250m-1510411878

BMBA URGES MUHITH TO EXEMPT INVESTMENTS BY MF SPONSORS Bangladesh Merchant Bankers Association (BMBA) has urged the finance minister to exclude some components including sponsors investments in mutual funds (MFs) from the banks exposure to the capital market It made the request for ensuring an environment conducive to gradual development of the capital market according to a proposal submitted to Finance Minister AMA Muhith last week The BMBA said the long-term or strategic investments needed to be excluded while calculating the exposure as these investments were not intended for frequent trading Non-convertible preference shares and non-listed securities also need to be excluded from the capital market exposure as it will never influence the capital market volatility it said in a letter to the minister According to the letter the MFs are passive investments where investors themselves are not involved in investment decision making and such fund portfolios are mostly of long-term nature than frequent trading On the other hand the sponsors of the MFs need to hold 10 per cent of the investment until liquidation of the fund So considering the fact the sponsors portions in MFs need to be excluded from the banks capital exposure said the BMBA proposal As per the Banking Act 1991 it said reporting requirement is on solo basis but the central bank has introduced consolidated calculation which is of dual effectdouble counting in the market exposure This kind of restrictive measure creates panic situation in the market and may hinder the potentials and prospects of the capital market as a whole the BMBA said It also said that this kind of practice needed to be stopped as such requirements and reporting practice would further squeeze the market and that the investors would lose their interest The BMBA said some organisations have invested on strategic purpose and were holding positions in the board and their exposure increased with rising the market price of MF units On the other hand in compliance with the securities rules they are unable to sell shares to reduce exposure the BMBA said terming the situation complicated In its letter the BMBA said that the capital market exposure of some banks and financial institutions increased without fresh investments following the upward trend of the market price as the exposure is calculated on the basis of market price If the banks need to go for selling off their excess exposure this will create unnecessary selling pressure on the market said the BMBA The association requested the finance minister to consider their proposal to facilitate the growth of the capital market by its own strength and prospect Source httptodaythefinancialexpresscombdstock-corporatebmba-urges-muhith-to-exempt-investments-by-mf-sponsors-1510411950

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ATIUR STRESSES ROLE OF REGULATORS IN DIGITAL FINANCIAL INCLUSION Former Bangladesh Bank Governor Dr Atiur Rahman chairs a session at the 5th Biennial Competition Regulation and Development Conference at Jaipur in India on Thursday Success of digital financial inclusion depends on the prudent role of the regulating bodies to a great extent And the recent progress in Bangladesh in this regard is a good example for the rest of the world to follow said Dr Atiur Rahman former governor of Bangladesh Bank says a statement He was chairing a session at the 5th Biennial Competition Regulation and Development Conference at Jaipur India on Thursday The three-day conference is being hosted by CUTS International and OECD Speakers of the session included Ravinder S Aurora Senior Vice President of Mastercard David Ongolo Kenyan Competition Authority and Dr A K EnamulHaque Professor of East West University Dhaka Many developing countries survived and even thrived during the last global financial crisis because they chose to follow a broad-based financial inclusion strategy And digital solutions played a crucial role in this financial inclusion drive said Dr Rahman He added that service providers must focus on reaching out to the customers in the rural socio-economic conditions Dr Rahman said that experience from Bangladesh can answer many of the burning questions regarding digital financial inclusion The central bank of the country has facilitated bank-led digitisation drive Be it Mobile Financial Service or be it Agent Banking the Bangladesh Bank has encouraged traditional players (ie the commercial banks) to lead the way And it has been proven to be very successful He also said that the world is witnessing only the beginning of the digital finance revolution Hence we must learn from all these experiments share our experiences and know-hows Only then we can work towards shaping global standards and practices Dr Rahman finally asked all central banks to be more proactive and collaborative with other stakeholders including non-traditional financial service providers to facilitate orderly development of digital financial inclusion so that consumers interests are better protected The grievance redressal mechanism developed in Bangladesh Bank with infusion of state of the art technology to gain trust of the customers in financial inclusion was also discussed widely in the session The panelists highly appreciated Bangladeshs regulatory move with public interest in mind using latest technology for replicable digital financial inclusion Source httptodaythefinancialexpresscombdtrade-marketatiur-stresses-role-of-regulators-in-digital-financial-inclusion-1510416319

FAO FEARS NEGATIVE BD FOOD OUTPUT GROWTH ON FLOODING Recent flooding has dampened the outlook for Bangladesh a likely third successive season of little or negative food production growth mainly rice reports UNB quoting FAO Barring major setbacks production recoveries could instead permit Bangladesh and Sri Lanka to slightly lower their 2018 imports to 11 million and 450 000 tonnes respectively according to the latest Food Outlook published by the UN Food and Agriculture Organisation (FAO) Among other rice importers Bangladesh Iraq Nigeria and the Philippines are all similarly predicted to replenish their inventories according to the report a copy of which obtained by the news agency These gains are however likely to be offset by stock reductions in the Republic of Korea Madagascar Sri Lanka and the United Republic of Tanzania all linked to output shortfalls Although the use of rice as animal feed is being sustained by the release of supplies from government granaries in Japan the Republic of Korea and Thailand more affordable feedstuffs are expected to displace rice in most other countries especially in Bangladesh China (Mainland) and Vietnam

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Since the previous Food Outlook report a series of unfavourable climate-related events have affected main paddy crops in the Northern Hemisphere which have now reached the harvesting stage This has been the case in Asia where unlike 2016 the critical Northern Hemisphere summer months were characterised by mixed growing conditions that inhibited planting expansions As a result FAOs latest forecast of world rice production in 2017 points to a broadly stable output level of 5008 million tonnes Production in Asia is now forecast to fall 550 000 tonnes below the 2016 bumper harvest to 4525 million tonnes The UN agriculture agency has said the cost of importing food is rising in 2017 driven by increased international demand for most food stuffs as well as higher freight charges The cost of importing food is forecast to rise six per cent in 2017 to $1413 trillion making it the second highest bill on record while food commodity prices have been generally stable according to the latest Food Outlook that expressed concern about the economic and social impact of this trend on poor countries Although weather disruptions are set to stall production growth this season global rice supplies are still forecast to exceed utilisation enabling a small expansion of world rice inventories Global trade is expected to rise only modestly in 2018 after staging an 8 per cent recovery in 2017 The food import bills are set to increase by double-digit rates for least-developed countries (LDCs) and low-income food-deficit countries Aromatic rice varieties have risen eight times faster than the FAO All Rice Index which is up four per cent on the year However the higher import costs come at a time when inventories are robust harvest forecasts are strong and food commodity markets remain well supplied The export of tropical fruits is promising for poverty relief and rural development as almost all production takes place in developing countries The export volumes of mango pineapple avocado and papayas are on course to achieve a total combined value of $10 billion this year according to the Food Outlook Source httptodaythefinancialexpresscombdfirst-pagefao-fears-negative-bd-food-output-growth-on-flooding-1510336161date=11-11-2017

STOCKS NUDGE HIGHER AS BANK TELECOM ISSUES SURGE Stocks extended the winning streak for the two consecutive weeks that ended Thursday as enthusiastic investors continued their buying appetite on bank and telecommunication issues Market operators said the positive momentum in some large-cap issues especially from banking telecom pharmaceuticals and food amp allied sectors helped the bourse to stay upbeat The banking sector posted the highest return of 445 per cent as 27 out of 30 listed banks ticked higher Four banks gained more than 10 per cent each The telecom sector also surged 342 per cent as Grameenphone the countrys largest market-cap listed companys shares price jumped 40 per cent to close at Tk 45690 each The market extended the winning streak riding on heavyweight bank and telecom issues said an analyst at a leading brokerage firm The week featured five trading sessions as usual Of them first session saw marginal correction while last four closed higher Week-on-week DSEX the prime index of the Dhaka Stock Exchange (DSE) jacked up by 9454 points or 155 per cent to finish at 6193 The two other indices -- the DS30 index and the DSE Shariah Index (DSES) - also closed higher at 2244 and 1341 points

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Both the indices added 4264 points and 1218 points respectively During the week banking pharmaceuticals and telecommunication sector stocks contributed more to keep the market up commented City Bank Capital Resources a merchant bank in its weekly analysis The port city bourse Chittagong Stock Exchange (CSE) also ended higher The CSCX advanced 180 points or 156 per cent to finish at 11618 International Leasing Securities a stockbroker noted that the market observed an upbeat vibe throughout the week riding on the news of soaring of net foreign investment in the capital market in the first 10 months of 2017 compared to the same period of last year Net position of foreign portfolio with the DSE stood at Tk 1623 billion in January-October compared to Tk 80 billion in the same period a year ago However some investors were reshuffling their portfolios after observing the year-end corporate declarations and first quarter earning disclosures the stockbroker added According to EBL Securities The market witnessed an upbeat tune throughout the week riding on regained confidence among the market participants The stockbroker noted that preferable year-end and quarter-end earnings declarations by several companies helped them to remain positive about market The total turnover for the week amounted to Tk 3591 billion on the DSE which was Tk 3027 billion in the week before The daily turnover averaged Tk 718 billion which was nearly 19 per cent higher than the previous weeks average of Tk 605 billion Block trade accounted for 16 per cent of the total weekly turnover where stocks like BATBC Beximco Pharma Shahjalal Islami Bank Square Pharma and Singer Bangladesh dominated the block trade board Banking sector kept its dominance over the turnover chart grabbing 35 per cent of the weeks total transaction followed by engineering with 18 per cent and pharmaceuticals 11 per cent Out of 336 issues traded 207 closed lower 116 ended higher and 13 issues remained unchanged on the DSE trading floor during the week The market capitalisation of the DSE rose 137 per cent as it was Tk 4123 billion on the opening day of the week and it stood at Tk 4179 billion on closing day of the week City Bank topped the weeks turnover chart with 5390 million shares worth Tk 184 billion changing hands followed by IFAD Autos with Tk 121 billion Brac Bank Tk 10 billion LankaBangla Finance Tk 994 million and Dhaka Bank Tk 926 million Reckitt Benckiser was the weeks best performer posting a gain of 1925 per cent while Stylecraft was the weeks worst loser slumping by 3322 per cent A new issue - Oimex Electrode-- made debut last week and soared 1042 per cent from its offer price of Tk 10 in the first trading day on Monday Source httptodaythefinancialexpresscombdstock-corporatestocks-nudge-higher-as-bank-telecom-issues-surge-1510332934date=11-11-2017

BANGLADESH GROWING AS DENIM HUB The growing global demand for fashionable denim wear encouraged both local and foreign entrepreneurs to make fresh investment in Bangladesh participants and organisers of Bangladesh Denim Expo have said Many of the 30 local denim mills are going for expansion while a couple more will come into operation with fresh investment within next two or three years they said Some foreign companies are opening offices or setting up factories in Bangladesh they added The seventh edition of the two-day Bangladesh Denim Expo was held in the city recently with the theme transparency to highlight the need for transparency in the entire denim supply chain

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A total of 65 exhibitors from 12 countries participated in the show while more than 12 thousand visitors from across the world registered online to attend the two-day expo organisers said Talking to the FE on the sidelines of the expo Md Khalid Mosharof assistant general manager at Dekko Group said the group invested Tk 15 million in setting up a new factory of 44 lines at Ashulia that would go for denim item production in June next The main reason is to tap the growing global demand he said Echoing him Syeed Ahmed Chowdhury general manager operation at Square Denim said the company expanded its denim fabric production capacity to 30 million yards from the existing 15 million yards per month mainly to meet the demand He however opined that the expansion is taking place more in garment segments than in fabric production There is no alternative to expansion to sustain the existing business and achieve the $50 billion garment export earnings target by 2021 Sharif Zahir managing director of Ananta Group said stressing the need for positive branding of the sector Meanwhile Landes a German denim accessories maker started production in its new factory at Savar from this month It invested US $05 million We opened the factory in Bangladesh as we think this is the hub for denim business and there is a lot of business prospects here Manfred Slowik chief operating officer of Landes told the FE at his stall at the expo By the end of next year the total workforce in our new plant will be 120 people as we are recruiting new people from existing 30 Mr Slowik said Landes has a target to produce 500 million pieces of leather patches used in denim trousers as accessories in a year at its Savar plant from where such accessories will be supplied to the whole Asian region Many big brands like HampM VF and Walmart are their customers he said Nezahat Boni senior account manager of Orta a Turkish denim maker said her company supplies 30 million metres of denim fabrics in Bangladesh in a year against only 800 meters in 2011 We opened an office in Bangladesh in 2011 as we cannot ignore the importance of this country as a denim hub she said Prosperity Textile a Chinese company opened its office in Dhaka last year said Md Mujibul Hoque the companys Bangladesh Sales Director The company has targeted sale of 100 million yards a year across the globe while it also targets 30-40 per cent of their sales in Bangladesh Bangladesh is now the top denim products supplier to the European Union overtaking China and third largest to the US after China and Mexico industry people said Bangladesh supplies denim products to major global buyers and retailers including levis G-Star Raw HampM Tesco Wrangler Hugo Boss Walmart and Gap Source httptodaythefinancialexpresscombdtrade-marketbangladesh-growing-as-denim-hub-1510332061date=11-11-2017

EXPORTS UP 70PC IN JULY-OCTOBER Countrys export earnings grew by 703 per cent to US$1150 billion during first four months of the current fiscal year (FY 2017-18) according to official data released Thursday The earnings were $1079 billion in the same period (July-October) last FY In October 2017 the exports grew by 642 per cent to $284 billion the Export Promotion Bureau (EPB) data showed The overall exports in the first four months slightly (074 per cent) fell short of the periods target In October however the exports were 628 per cent higher than the months strategic target Readymade garment shipments fetched $943 billion marking 699 per cent growth during the period as compared to $882 billion in the same period of last FY

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The woven items registered 385 per cent growth in earnings to $445 billion than that of $428 billion in the same period of FY 2016-17 The earnings from knitwear export during the period grew by 995 per cent to $498 billion from $453 billion in the corresponding period of last FY Jute and jute goods exports rose by 1646 per cent to $34501 million from $29626 million in the same period of FY17 The earnings from agriculture products grew by 2022 per cent during the period while home textiles by 2037 per cent The earnings from leather and leather products however fell marginally by 002 per cent to $42844 million during the period than that of $42851 million in the same period last FY The export earnings from frozen food and live fish grew by 1541 per cent to $22691 million from $19661 million of the corresponding period of last fiscal Mahmud Hasan Khan vice president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) said the exports in the first four months of the current fiscal year fell short of the expected growth mainly because of failure in maintaining the lead time and short supply of gas and electricity Terming the knitwears growth satisfactory he said woven items manufacturers have been struggling to cope with the new challenge as buyers were reducing the volume of orders due to failure in meeting the lead time Without efficient port and strong backward linkage industry especially for the woven sub-sector it will be difficult for the sub-sector to bounce back he feared He pointed out that maximum of the woven fabric requirements were being met through imports But it was taking too much time to clear the imported fabrics and additional charges as a result at the Chittagong seaport that was facing unbearable congestion The government should provide necessary policy support to the exporters to establish strong backward linkage industry for the woven sub-sector he added Source httptodaythefinancialexpresscombdfirst-pageexports-up-70pc-in-july-october-1510248870date=10-11-2017

GAS CRISIS HURTING OUTPUT IN INDUSTRIAL BELT Factories in the countrys Tongi-Gazipur industrial belt have been facing acute gas crisis over the past few months following diversion of gas to upstream power plants The crisis has deteriorated further this week albeit some improvements for a few days last week said local industrialists and businessmen According to them if the ongoing gas crisis persists they may be forced to shut down their factories Officials of the Titas Gas Transmission and Distribution Company Limited (TGTDCL) however blamed the Petrobangla for the gas crunch Sources concerned say the industrial belt of Tongi-Gazipur is suffering badly for about four to five months from low pressure of gas coupled with poor electricity voltage -- often resulting in huge volume of industrial wastages and reduction of production efficiency According to the industry insiders a factory in the industrial belt requires 04 PSI (production per square inch) as optimum gas pressure but the pressure at times comes down to as low as 01 PSI these days -- especially during the daytime Gas pressure in the area becomes normal around 10pm11pm and stays for not more than 08 hours until 6am7am an entrepreneur of the industrial belt informed Asked an official of Titas said they are at present getting nearly 250 million cubic meters (MCM) less in recent weeks against their current demand of 1800 MCM gas in Titas franchise The downstream Titas franchise area covers greater Dhaka region which includes Gazipur alongside some other adjoining districts and greater Mymensingh he said

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A Petrobangla source however cited gas supply on priority basis to a number of upstream projects including power plants as reason behind supply shortage When asked Managing Director of Akij Group Sk Bashir Uddin termed the situation really worrisome According to him two of Akij Group companies situated in the area -- Akij Printing amp Packages Limited and Dhaka Tobacco Industries -- jointly contributed nearly Tk 35 billion (3500 crore) to the national exchequer in the 2016-17 fiscal year But were very much worried about our industrial output this year as production disruption following the twin crises involving gas supply and power supply Both will eventually disrupt our retail business in every phase he quipped This often results in a high rate of industrial wastage and reduction of production efficiency he added Bangladesh Auto Re-rolling Steel Mills amp Association Chairman Manwar Hossain who is also Anwar Group Managing Director echoed the same concern Factories in the industrial belt are now operating at one-third of their capacity which may lead to labour unrest and default of huge sum of bank loans he said Such disruption of production he cautions may even cause sudden shutdown of factories According to him none of the victims in that case will be the wilful defaulters -- they will be the victims of circumstances The businessman who has a steel factory called Anwar Ispat Limited in the industrial belt called for immediate introduction of ECM (electronically controlled meters) to check unabated gas engineering in the area which he deems to be yet another reason for gas supply crunch Titas officials according to him are encouraging co-generation scheme to help address the severe gas crisis But he said co-generation will require stable and smooth gas supply Government should ensure at least 10-15 years of smooth gas supply to encourage co-generation as what he said any industrial investment requires 20 years of payback period TGTDCL Deputy Managing Director Engineer Abdul Wahab Talukdar who is also the Project Director of Sripur-Joydevpur Transmission Pipeline Project said We cannot do anything to address the crisis if there is a lack of adequate gas supply Mentioning that all factories in the industrial belt are like my babies he unequivocally said Titas is not at fault He also admitted that priority-based power plants gas supply being the reason behind the current spell of gas crunch We have already started introducing electronic volumetric corrector (EVC) to stop illegal gas use in the area he said Factories he added should go for co-generation scheme for protecting their own interest Co-generation means utilising and absorbing heat generated from gas generators which Mr Wahab said will save energy A section of the businessmen however called for stopping fertiliser production and distributing the same among people at a subsidised price after importing it to facilitate smooth supply of gas to other industries Even if the government stops fertiliser production and opts for importing it for distribution at a subsidised rate there will only be an insignificant loss compared to the overall losses now being incurred said an industrialist who has more than one factory in the industrial belt Local sources said illegal and unapproved gas connections in various industries in and around the zone are also affecting gas supply badly among other reasons Source httptodaythefinancialexpresscombdfirst-pagegas-crisis-hurting-output-in-industrial-belt-1510249018date=10-11-2017

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SINGLE PERSON MAY FORM COMPANY A single person may form a commercial firm under a provision of the companies law being updated along with some other major business-stimulating measures Official sources said the government is considering incorporating some new provisions including one allowing individuals to form any company into the updated Companies Act The other provisions are formation of an appellate tribunal to resolve legal matters without wasting much time widespread automation of companies work and submission of annual company reports online Earlier the Ministry of Commerce (MoC) had received some recommendations from the stakeholders on how to update the law they added We got most of the recommendations from the stakeholders We hope we will be able to prepare the draft Companies Act within a month Md Obaidul Azam director trade organisations (DTO) told the FE He said the recommendations the ministry had received so far were being scrutinised before preparing a draft for updating the companies act Earlier different trade bodies had sent their respective recommendations to the MoC for incorporation into the law The MoC will hold a meeting with the countrys apex trade body after assessing the recommendations and suggestions the ministry official said Talking to the FE a leader of an influential trade body said they had sent some recommendationssuggestions to the MoC for the new Companies Act for betterment of the countrys trade and business According to Section 2 (1) (c) of the Companies Act 1994 Company means a company formed and registered under this Act or an existing company Thus a company is an association of persons formed under the Companies Act 1994 with a view to achieving some common objectives Though a company is regarded a legal person it possesses similar rights and owes similar obligations like a natural person Now any individual fulfilling the new criteria may be allowed to form a firm Source httptodaythefinancialexpresscombdfirst-pagesingle-person-may-form-company-1510249090date=10-11-2017

DSE TURNOVER CROSSES TK 80 BILLION MARK The daily turnover on Dhaka Stock Exchange (DSE) exceeded the Tk 80 billion mark on Thursday as investors took fresh exposure to the banking sector Turnover a crucial indicator of the market reached Tk 870 billion on the countrys premier bourse jumping 14 per cent from the previous days transaction of Tk 765 billion It was the biggest single-day transaction since October 11 when the turnover totalled a record Tk 1092 billion Along with rising turnover DSEX the prime index of the Dhaka bourse continued to keep its gaining momentum closing 3449 points higher at 6193 points DSEX which replaced the DGEN in nearly five years back added more than 121 points or 20 per cent in the past four consecutive sessions The two other indices -- the DS30 index and the DSE Shariah Index (DSES) -- also followed suit to end at 2244 and 1341 points after gaining 1422 points and 443 points respectively Brokers said the market maintained the bullish trend for the four straight sessions as the enthusiastic investors chased the banking sector stocks The market continued the bullish trend for the four consecutive sessions as the enthusiastic investors were active for the banking food and engineering sector stocks commented EBL Securities a stockbroker in its regular market analysis

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It noted that the core index remained positive throughout the session as optimistic investors kept buying sector-wise stocks while some rebalanced their portfolios Meanwhile share price of newly listed Oimex Electrode continued to decline for the three consecutive sessions after unusual hike during its debut trading on Monday The companys share price fell 763 per cent to close at Tk 9810 on Thursday after jumping more than tenfold during the debut trading which experts termed unusual Block trade contributed Tk 241 million to the days total turnover with stocks like BATBC Square Pharmaceuticals Singer Bangladesh and Beximco Pharma dominating the block trade board Among the major sectors pharmaceuticals posted the highest gain of 122 per cent followed by banking sector (083 per cent) food amp allied (067 per cent) engineering (033 per cent) financial institutions (003 per cent) and power (003 per cent) Only telecommunication sector faced a 045 per cent correction A total number of 0140 million trades were executed in the days trading session with trading volume totalling 23171 million securities The total market capitalisation of the DSE stood at Tk 4179 billion against Tk 4168 billion in the previous session Losers however took a modest lead over the gainers as out of 325 issues traded 140 closed lower 130 closed higher and 55 remained unchanged on the DSE trading floor City Bank dominated the turnover chart for the second day in a row with 1035 million shares changing hands closely followed by Dhaka Bank LankaBangla Finance Brac Bank and Keya Cosmetics Reckitt Benckiser was also the days best performer posting a gain of 624 per cent while Qasem Drycells was the days biggest loser shedding 1235 per cent The port city bourse Chittagong Stock Exchange (CSE) also ended higher with its Selective Categories Index -- CSCX --gaining more than 62 points to close at 11618 Losers beat gainers as 113 issues closed lower 97 closed higher and 37 remained unchanged on the CSE The port city bourse traded 1604 million shares and mutual fund units generating a turnover of Tk 483 million Source httptodaythefinancialexpresscombdstock-corporatedse-turnover-crosses-tk-80-billion-mark-1510245247date=10-11-2017

TEN COS GRAB 32PC TURNOVER ON DSE The banking sector continued to dominate the transaction chart of the Dhaka Stock Exchange (DSE) accounting for 39 per cent of the total turnover on Thursday Four banks made their way to the top 10 turnover chart with City Bank leading the chart for the second day in a row Brokers said the investors chased the banking sector issues as more than 63 per cent of listed banks showed positive earnings in the third quarter (July-September period) Meanwhile top 10 traded companies including four banks grabbed more than 32 per cent of turnover on the Dhaka bourse The total turnover on the premier bourse reached Tk 870 billion up 14 per cent from the previous days Tk 765 billion The most active shares in terms of value included City Bank Dhaka Bank LankaBangla Finance Brac Bank Keya Cosmetics Square Pharmaceuticals Beximco Pharmaceuticals IFAD Autos Exim Bank and IDLC Finance According to statistics available with the DSE about 1035 million shares of City Bank were traded generating a turnover of Tk 553 million or 635 per cent of the total transactions

Daily News Flash 12th November 2017

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The companys share price hovered between Tk 5240 and Tk 5440 before closing at Tk 5390 advancing 228 per cent over the previous session Dhaka Bank came in next with shares of Tk 395 million changing hands contributing 454 per cent to the total turnover The banks share price closed 347 per cent higher at Tk 2380 LankaBangla notched the third spot with shares of Tk 266 million changing hands making up 305 per cent of the total turnover Its share price ended 063 per cent higher at Tk 6430 Brac Bank emerged the fourth with shares of Tk 257 million changing hands grabbing 295 per cent of the total turnover The banks share price settled 123 per cent higher at Tk 107 Keya Cosmetics featured a turnover of Tk 247 million or 284 per cent of the total turnover Its share price closed 201 per cent higher at Tk 1520 The turnover of Square Pharma was Tk 241 million or 276 per cent of the total transaction Its share price ended 612 per cent down at Tk 27890 Beximco Pharma featured a turnover of Tk 211 million or 242 per cent of the total turnover Its share price advanced 428 per cent to close at Tk 10960 The turnover of IFAD was Tk 208 million accounting for 238 per cent of the total turnover Its share price closed at Tk 14070 gaining 195 per cent Exim Bank featured a turnover of Tk 196 million or 225 per cent of the total transaction The banks share price inched up 055 per cent to close at Tk 1830 IDLC also made its way to the top ten turnover chart with shares of Tk 188 million changing hands Its share price closed 223 per cent higher at Tk 9150 Source httptodaythefinancialexpresscombdstock-corporateten-cos-grab-32pc-turnover-on-dse-1510245290date=10-11-2017

FOREIGN INVESTMENT HIKE INFO DRIVES MODERATE GAINS ON DSE The Dhaka bourse Thursday closed the session posting a moderate rise in the broad index and turnover amid mixed performance displayed by major sectors On the day most of the major sectors declined but the turnover crossed Tk 80 billion-mark after two sessions on Dhaka Stock Exchange (DSE) mainly because of investors increased participation in the banking sector According to a market review of International Leasing Securities positive momentum in some big-cap stocks especially from bank food and engineering sectors helped the bourse to close in green The market started the session with a positive note and the DSE broad index DSEX witnessed little ups and downs before closing higher According to AT Capital Partners the market remained sideways till the midsession The DSEX rose again in the second half of the session and closed at 61936 up by 345 points The shariah based index DSES and blue chip index DS30 also rose marginally The turnover stood at above Tk 870 billion which was 1370 per cent higher than the turnover of the previous session The confident drive was initiated by the investors buying spree riding on the news of doubling net foreign investment in stocks year-on-year in the first ten months of 2017 said the International Leasing SecuritiesAmong the gaining sectors bank advanced 08 per cent and engineering 03 per cent Of the losing sectors pharmaceuticals amp chemicals declined 11 per cent telecommunication 05 per cent and textiles 09 per cent The banking sector grabbed 384 per cent of the market turnover at the premier bourse DSECity Bank topped the turnover chart with a value of Tk 553 million followed by Dhaka Bank LankaBangla Finance BRAC Bank and Keya CosmeticsReckitt Benckiser (Bd) limited topped the gainers chart with a rise of 624 per cent to close at Tk 18456 while Quasem Drycells was the worst loser after declining 1235 per cent to close at Tk 8230 Source httptodaythefinancialexpresscombdstock-corporateforeign-investment-hike-info-drives-moderate-gains-on-dse-1510245365date=10-11-2017

Daily News Flash 12th November 2017

35

MORE JAPANESE COMPANIES SEEK TO INVEST IN BANGLADESH Japanese Ambassador to Bangladesh Hiroyasu Izumi has said the Japanese investors are keen to invest in Bangladesh considering the lucrative offer and ideal atmosphere for foreign investment reports BSS The Japanese investors expressed more interest to invest in Bangladesh at recently-held the third round of Public-Private Economic Dialogue between Bangladesh and Japan he said while visiting the Chittagong Export Processing Zone (CEPZ) on Thursday The envoy expressed the hopes that Japanese investment in the Export Processing Zones (EPZs) will increase after the successful dialogue said a press release More and more Japanese companies will come to invest in this country he added General Manager of CEPZ Khorshid Alam maed a PowerPoint presentation highlighting the overall scenario of EPZ as well as Bangladesh Export Processing Zone Authority (BEPZA) Mentioning Bangladesh EPZs as the Bonanza for Investors he said investors from 38 countries have set up industries in the EPZs and invested US $442 billion He informed the ambassador that BEPZA has ensured three layer security system including 24-hour CCTV surveillance in the key points of EPZ and factory premises for the safety of the investors Source httptodaythefinancialexpresscombdtrade-marketmore-japanese-companies-seek-to-invest-in-bangladesh-1510250285date=10-11-2017

Source httpwwwarthosuchakcomarchives388209

১৬০

১১৫ ৪ ৫ ১০ ২০

৩০ ( )

( )

৩০ ২০১৭ ১৫

৩ ও ১২

২ ১৪ ( ) ৩৪

২৪

Source httpwwwarthosuchakcomarchives388257

Daily News Flash 12th November 2017

36

৫৩ ( ) ১৫ ও ২

১ ১ ৪৩ ২১০ ৫৩ ৪৪

৩২ ৫০

৮ ৫৮

২০

১ ২৪

৯ ২৭ ৫৫৫ ৯ ৩৮

-

Source httpwwwarthosuchakcomarchives388125

৩৫ ( ) ৩৫

২৪৫ ৩

১৭ ১১৯ ২১

ও - ১১

৯ ৬ - ৫ ৪

- ও ২

ও ১

Source httpwwwarthosuchakcomarchives388085

- ফ ৪০ ও - ৪০

৬ ( ) ৫ ৯ ৫ ৪৯২ ১১

৫৬ ৪৫১ ২৯

১২ ( ও)

( )

-

- ১০

( ও) ৮০

৪৯ ৩৭ ৯৮

ও ১৭ ১২ ঋ ও

১০ ও ৩ ১০

৩০ ২০১৬ ৩৫ ৬৩

৫ ( ) ৩ ৪৯

Daily News Flash 12th November 2017

37

Source httpwwwarthosuchakcomarchives387762

lsquo rsquo

( )

lsquo - rsquo

( ) ও

২০০২ ( ২ )

৫৪৬

ও ১৫

ও ১৫ ৭৫ ও

১০-১২ ১

১৫৫ ৬৭

ও ২০১০

ও ও ও -

ঋ ঋ

১৫ ৪ ৩

২ ২ ৪ ১৫ ৬

( )

Source httpwwwarthosuchakcomarchives388276

- ও ও

Daily News Flash 12th November 2017

38

৩৮ ও ৪৩

১০০ ৬১ ৫৮ ২২৫ ১ ০৫

Source httpwwwarthosuchakcomarchives387849

- ও ( -২)

৬ ও

ও ৫ ৩০০

ও ও

৭ ২০০

( ও )

ও ও

ও ও

২ - ও mdashlsquo

rsquo ও

-

৫ ৩০০

- ১০ - ৪২৯ -

৩২৮

- ১০

( )

২০১৪

( ও) ও ( )

( )

২ ও ও

ও ও ও

ও ২০১১- ও

ও ( )

Daily News Flash 12th November 2017

39

(১০ ) ৫ ৭৬৩

৬৩ ও

ও ( )

- ২০১৪ ও

ও ও

Source httpwwwprothom-alocomeconomyarticle1362971

ও ও

ও - ও

২০১৬-১৭ ২০ ও

ও ও lsquo rsquo

ও ১০ ও

৭৭ ২০১৭

১৬ ২৭ ও

২০১৬-২০১৭ ২০ lsquo rsquo

ও-

ও ও ও

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564382

ফ ( ও) ১১

ও ও

ও lsquo১১ ও rsquo

১০ ১৩

( ) ( )

Daily News Flash 12th November 2017

40

- ও

-

( )

( )

lsquo ও

rsquo ও

২৬ ১০

১৬

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564383

১ ৫০

ও ২০৫০

২৩

১৬ ৫৯ ২০১১

২০৩০

( )

ঋ ও ও

৬৮ ৬৭

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564384

ফ lsquo

ও ও

( ) ও

- ও

( ও ) ( )

Daily News Flash 12th November 2017

41

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564388

৪৫ ও

৮৪ ৮৩

৯২০

২৭ ২৪ ৭ ৩

৬ ৮৯

৯ ১ ৭২ ১৪ ৪৮

৪৫

ও ১৭ ৫০

১৯৩ ১০ ২০১৫-১৬ ৪১৩ ১০ ও ও

২০১৪-১৫ ৩৭৫ ৮০ ৩৫ ৭০

২০১৩-১৪ ৫১৫ ও

৮১ ২ ৫১ ৩ ২০

২ ও

৮৪

৮১

- ও

৮৩

৮২ ৯৫

ও ও - ও

ও ও ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17112200 - - - -

ও ৫০

ও ( ) ( )

ও ও

Daily News Flash 12th November 2017

42

ও ও

১০০

৮ ও

৩০০ ( )

ও ১৫০

২০০ ১০০

২০০

২৭ ৭

ও ও

ও ৩০ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111811 - - - -

-

২৭ ১১

১০

( ) ২৮৪

৬ ২৮ ৭ ১৫১

৭৪

ও - ও

ও - ও

ও ৩

৭ ১ ২৩

৯৪৪ ৮৮২ ১০

ও ৪ ৭ ও

৪ ৩৮ ও ১৫ ৪১ ২২ ৭০

২০ ৩৬ ১৩ ও

৪৬ ২২ ২০ ও

১৭ ৩৭১ ও ও

১৭ ও ৪৩ ও

Daily News Flash 12th November 2017

43

৬ ২০ ও ১৬

৩৫ ২০ ২৭

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111810 - - - - -

ও ও

১৩০ ও ১৪০

৫৫ ও ৯৭ ১১৩

৩৭

৩৪

৬১৯৩ ৬২ ১১৬১৭

৩০ ১৯

ও ও

ও - ও

৪৮ ৩১

১২ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111808 - - - - -

৩৫ ও ১০

ও ( ) ও

১০

ও ও -

২ ৩০০

২০১৪ ও

ও ৭ ২০১৪ ও ২০১৫

৫ ৭ ও ১২ ৮ ২৩

২০১৩ ১ ৪২০ ২০১৪ ১০ ৫ ১ ৫৭০

১৩ ৪ ও ১ ৩৫৮ ১০

২০১৬ ও ৩ ৫ ১ ৩১০ ২০১৪

২০১৬ mdash ২ ১ ঋ

১০ ও ২০১৩

২৯ ৮০ ২০১৪ ৫ ৭ ৩১ ৫০ ২০১৫

১২ ৩৫ ৩০ ২০১৬ ৭ ৩৭ ৮০

Daily News Flash 12th November 2017

44

২০১৪ ২০১৬

৩২ ৩৫ ও ৫০ ১৯

৫৬

১৭ ৪৬ ২০১৪ ২০১৬

৭২ ১০০ ও ১১১

২০১৪ ২০১৬ ১৫ ৬৩

৯১ ১১৪ ও ১১৮ ৮ ২৩

৮০ ৯০ ও

ও -

ও -

ও ও ও

১০ ও

১০ ও ২২

৭১ ১২ ৪২

৩২ ২৬ ও

ও ও

( ) ও

ও ২০২১ ও ও

৫ ১ ১৬

ও ও

Source httpbonikbartanetbanglanews2017-11-12137992 - - -- -

৫০০ ৫০০ ও

ও ৩০ ২০১৭

৫০০ ও ঋ ২০১৮

৩০

১ ২০ ও ১৫০

১১

Daily News Flash 12th November 2017

45

৩০০ ৬০০

( ) ও

১ ২৫ ও ১০

১০ ও

ঋ ও

৩০ ২০১৭ ৩ ও ১২ ও

( ) ২ ১৪ ২ ১

ও ৩০ ১১

( ) ও ও

( - ) ৬৬ ৫৫ ৩০

( ) ৩৪ ৯০

ও ও ও

( ) ও

ও ও ২০১৫ ৩০ ১০ ২০১৬

১২

( ) ৪১ ২০ ও ২৩ ৬০

৫০ ও

২০১৪ ৩০০ ও ১৪৮ ৪৬ ৫০

১৯১ ৬২ ৩৭ ৩১

১২ ৪৫ ৫০ ২৪

ও ( ) ১৬ ৫৩

ও ১৫ ২২

Source httpbonikbartanetbanglanews2017-11-12137966৫০০- - - - -ও -

৬৩

- ও ও

৬২ ৯৪ ৫

৬২

৯০

২০১৪ - -

- ও

২০১৬-১৭ ৫ ৬২ ও ২০১৩-১৪

১২

( ) ৯০

-

ও - - ও -

Daily News Flash 12th November 2017

46

- ও

৬২ ৯৪

২০১৩-১৪ ৭০ ৭৮ ২০১৪-১৫ ৫৪ ২২

২০১৫-১৬ ৩৯ ৩৩ ও ২৬ ২৩

ও ২০১৩-১৪

১২ ৩৬ ২০১৪-১৫ ৫ ৯১ ও ২০১৫-

১৬ ১৭ ৩০ ৫ ৬২

৩০ ২০১৭ ১০

২ ৮৬ ও ৩

ও ২৪ ( )

২৭

১৯৬৪ ১২

৪ ও ও ১৯৭২

ও ( )

ও ৩৪ ৮ ও

৯০

৪৫ ও ৫

১৯৬৪ ১৯৭২ ১৯৮৯

১০০ ও ২৬ ১৬ ২০ ৫৪৩ ৭৭

৫ - ৫১ ১৫ ৬০ ও

৩২ ৯০

Source httpbonikbartanetbanglanews2017-11-11137853 - - - - - -৬৩---

( ) ও

১০

ও ও ও

-

ও ও

ও ঋ ও

ও ২০১৪ ও

ও ও

২০১৩

( ) ও

Daily News Flash 12th November 2017

47

২০১৪

২০১৪-১৬ ও

২০১৪

ও ২০১৪

২০১৫ ২৭ lsquo ও rsquo

ও ও

২০১৬ ২৪

( )

ও ও

- ও

ও ও ১৯৮৩ ২০১৬

ঋ ( ) ৫৬০

৮৬৪

২০১৬ ২০১৯ ও

ও ১৫ ২৫ ৩০ ও ৩০

ও ঋ ও

২০১৬ ঋ ১

৩৪২ ঋ ৬ ৫২ ১২৩

ঋ ২ ৪৪৩ ঋ ১০

৮৪ ঋ ৪০

৭২৬

ও ২০১৬ ৭৪১

৪৫৭

২০৭ ২৪৪

১০ ও

ও ও ও ও ও

Daily News Flash 12th November 2017

48

Source httpbonikbartanetbanglanews2017-11-12137998 - - - - - ও- -

( )

৩০ ২০১৭ ২০

( ) ২ ১ ১ ৫৯ (

) ৩০ ( ) ১৫ ৩৭

ও ২৮ ১১

( ) ২৮

২০১৬ ৩০ ১৮ ২০

২০১৪ ও ২০

১৫ ৩০

১৮ ৮০ ও ৯ ৬০

Source httpbonikbartanetbanglanews2017-11-11137850 - - - -

ফ ৭ ২০১৭-১৮ ৭ ৩ ৭৪

( ) ও

( - ) ১ ১৫০ ৫৮

(২০১৬-১৭) ১ ৭৫ ৩ ৬০ ৭

৩ ১ ১৫৯ ২০ ৭৪

ও mdash

৬ ৬৫ ১৭ ৬৩

mdash ও ও

১৫ ৪১ ২২ ৬৯ ১০

১৯ ৬৬ ১০ ২০ ২২

mdash ও ও ও

৩৯ ৫১ ও ২ ও

১৬ ৪৬ ও ও ৬ ৯৯ ও

৩ ৮৫ ৯ ৯৫

১৯ ৮২

৮০

ও ( )

mdash

Daily News Flash 12th November 2017

49

ও ও

Source httpbonikbartanetbanglanews2017-11-10137755 - - - -৭- - --

ফ - ফ ও -ও

-ও

-ও

২৯-১০-২০১১ ৩ ( ) ২৮-১০-২০১৪

৩ ( ) ২৮-১১-২০১৬

২৮-১০-২০১৭ ৩ ( )

২০১৬-১৫৮১৩৪ ৪৪ ০৭-০৮-

২০১২ ১২(৬) ২ ( ) ৬ ( )

-ও - ও ২ ( )

৬ ( ) ও ও

-ও ৩ ( )

-

ও ও

১৯৯৪

২ ২২-০৫-২০১২ -ও ৩

- -

১৯৯৪

-ও

- ও

( )

১৯৯৪

১৯৯৪ -ও

Source httpwwwsharenews24comindexphppage=detailsampnc=1ampnews_id=6587

Daily News Flash 12th November 2017

50

ফ ফ

১৫ ও

-( ) ও

৪৯

১৬ ৮৫

৫১ ৪৯

৪ ৩৬

১৯১৩

১০০ ও ১৯০১ ১৯৬০

Source httpswwwdailystockbangladeshcom - - - -

- ( -১)

( ) ৮

৩০০ ও

( ) ১৬

- ২২৮ ৪৯ ১৮৩ ২০১৮

( ) ও

১৫০

( ) ও ৪০ ৩০

ও ও

ও ও

Source httpswwwdailystockbangladeshcom - - -

Page 6: Daily News Flash, 12th November, 2017 -  · PDF filebanglalink's revenue falls 4.57pc in q3 ... banks lack remedial strategy while npl rises worryingly

Daily News Flash 12th November 2017

6

In addition to providing telecom services the way we do things makes a difference The way we apply our sense of ethics the way we apply our governance the way we apply our code of conduct or our way of work are humble examples of how business can be done We believe these are important contributors to the society that we serve As a corporate citizen of Bangladesh it is on us to contribute to the fabric of the nation We think there is an opportunity for Grameenphone as part of the greater business community to recapture the narrative and play a more active role in promoting the country for foreign investment to stop worrying about things that are going wrong and think about things that are going right With all due respect to our politicians who are expected to extol the virtues of investing in this market when business leaders and foreign investors carry the message that this is a great place to invest it builds greater credibility Grameenphone understands this and we carry and will continue to carry that message everywhere we go I think that as we head into 2018 and beyond there is huge potential still to grow the market and the business Bangladesh is investment-ready and investment-worthy Source httpwwwthedailystarnetbusinesstaking-bangladeshs-success-story-the-world-1489999

NBR PLANS TO LOWER FLAT REGISTRATION COST The tax administrator plans to reduce the flat registration cost and ease the complexities related to value added tax to give a boost to the real estate sector The National Board of Revenue is also finding ways to lessen the pressure on the realtors at the time of enforcing the new VAT law in July 2019 said Md Nojibur Rahman chairman of NBR Rahman spoke in a meeting with the leaders of the Real Estate and Housing Association of Bangladesh (REHAB) at Hotel Purbani in Dhaka yesterday At the meeting the realtors proposed NBR reduce the flat registration cost to 65 percent from the existing 155 percent The government should introduce a secondary market to change the ownership of flats like the market for used cards said Alamgir Shamsul Alamin president of REHAB There should be no registration fee for secondhand or used flats he said The ownership of such flats should be changed hands with only 3 percent tax like the used cars Alamin said He said the registration cost is the highest in Bangladesh among the Saarc countries The NBR is now giving emphasis on the housing sector to remove the barriers the realtors have long been facing at the time of selling flats he said Currently buyers have to spend 155 percent of a flats cost for registration which includes 4 percent gain tax 3 percent stamp fee 2 percent registration fee 2 percent local government fee and 45 percent VAT Flat sales have decreased by 60 percent in recent times due to high registration costs while the rate of launching new projects has declined by 75 percent Alamin said The association also proposed a cut in the existing 35 percent corporate tax for developer companies to help them raise their paid-up capital he said The REHAB has recently increased the paid-up capital ceiling to Tk 1 crore from Tk 10 lakh for a developer to get a membership of the association Alamin said The higher paid-up capital will increase investment in the sector he said The finance minister has asked the revenue authority to work on how to reduce the flat registration cost said Jahangir Hossain a member of the NBR A panel has also been formed to work on it he said Currently REHAB members are building around 15000 to 17000 flats every year according to the organisation

Daily News Flash 12th November 2017

7

Source httpwwwthedailystarnetbusinessnbr-plans-lower-flat-registration-cost-1489987

SOCIAL BUSINESS IS OUR FUTURE Les Canaux a historic building in Paris has officially begun its journey as Social Business House in order to promote social business and the social economy in the French capital Mayor Ann Hidalgo and Nobel Laureate Prof Muhammad Yunus together launched the social business house on Thursday Yunus Centre in Dhaka said in a statement yesterday Last year the mayor announced that the historic building will be dedicated to become the home of social business and the social economy for Paris Built in 1882 the building served as the administrative office of the Canals of Paris It is located on the 19th district of Paris which is a very vibrant neighbourhood attractive to young people Nicolas Hulot deputy prime minister of France and environment minister attended the launching ceremony as the chief guest A group of dignitaries was given a guided tour of the facilities of the social business house The house has been refurbished where all its decor carpets furniture and fittings are made from recycled materials notably ocean plastic waste paper and waste wood Yunus Centre Paris also located in the same building was also opened Yunus Centre Paris is now a registered legal entity in the city Speaking on the occasion Mayor Hidalgo said she is committed to social business and she wants to make Paris as the social business capital of the world and turn Paris as the social business city The mayor emphasised that social business is the future of the world ldquoIt is the future of humanity and it is the future of the planetrdquo She said that the present system is not sustainable Hulot highlighted that social business and the work that Les Canaux has set for itself is the most powerful way to move forward Prof Yunus said social business is like a bug a friendly bug that infects everyone who comes into contact with it because selflessness exists in every individual Source httpwwwthedailystarnetbusinesssocial-business-our-future-1489984

BANGLALINKS REVENUE FALLS 457PC IN Q3 Banglalinks revenue in the third quarter of the year declined 457 percent to Tk 1170 crore -- the lowest in nine quarters -- due to stiff competition and the growing tendency among subscribers to use multiple connections But it was not disclosed if the operator made any profit during the quarter in the financial report released by its parent company Veon on Thursday Banglalinks data revenue rose 28 percent to Tk 170 crore in the third quarter of the year on the back of acceleration of active data customer growth of 171 percent year-on-year Customer per data usage more than doubled to 523 megabytes a month Fuelled by aggressive customer acquisition campaigns Bangla-links subscriber base widened 84 percent year-on-year in the quarter taking the total tally to 314 crore and reversing the negative trend of the previous quarter Banglalinks gross income decreased and customer base shrank meaning its average revenue per user declined 86 percent year-on-year to Tk 121 The operator lost 38 lakh connections during last years SIM re-verification process As a result its earnings dropped said a senior official of the operator The report also said Banglalink is exploring alternatives to improve its capital structure ahead of 4G spectrum auction likely to take place in the first half next year as the operator would have to spend heavily to buy spectrum and roll out 4G service

Daily News Flash 12th November 2017

8

Veon a multinational telecom company headquartered in Amsterdam said it is evaluating all options to improve Banglalinks capital structures ldquoThe proceeds from any such activity may be used for refinancing of existing debt and general corporate purposes (including capital expenditures)rdquo said the financial statement without giving any specifics Jean-Yves Charlier chief executive officer of Veon had told reporters in Dhaka in July that Banglalink is ready to sell all of its 9000 towers to third parties in order to pool resources to invest to improve network quality The intention was made clear after Bangladesh Telecommunication Regulatory Commission decided to award three licences to manage mobile towers and separate telecom business from operators network infrastructure Banglalink is keen to invest $1 billion over the next three years to improve its service quality as well as support the governments Digital Bangladesh vision Since inception the countrys third largest mobile operator by subscriber base has invested over $251 billion in Bangladesh and contributed $24 billion to the national exchequer The operators 3G coverage reached 70 percent population Source httpwwwthedailystarnetbusinessbanglalinks-revenue-falls-457pc-q3-1489996

FORTY LOCAL COMPANIES TO ATTEND TEXWORLD PARIS Forty Bangladeshi textile and garment companies will participate at Texworld Paris on February 11-14 next year Noman Group has been chosen as an elite exhibitor and given space in the premium area of the show said a statement from Messe Frankfurt the organising company Companies from other countries such as India Pakistan China Myanmar Nepal and Cambodia will also take part ldquoWith such a wide range of countries the show is the most important event for sourcing apparel items Buyers come to the show expecting a wide variety of prices and qualityrdquo the statement said Texworld Paris hosts more than 1000 exhibitors and offers a rich variety of products to professional buyers from all over the world It is particularly the best place to meet buyers from all over Europe including the UK the Netherlands Germany and Turkey The Export Promotion Bureau (EPB) of Bangladesh will take part in the show with a limited number of booths The EPB is providing discounts with a garment booth costing Tk 300000 and a fabric booth Tk 475000 French designer Eymeric Francois along with Texworld consultants Louis Gerin and Gregory Lamaud will organise a Bangladesh Fashion Show in Paris during the event Gerin and Lamaud have been working with Texworld for over 10 years and have been awarded the prestigious Golden Needle Award from ESMOD International Paris Apparel Sourcing Paris the number one European trade fair for worldwide apparel sourcing will also take place at the same time and location Source httpwwwthedailystarnetbusinessforty-local-companies-attend-texworld-paris-1489975

STANCHART TOP OFFICIAL IN TOWN Anna Marrs regional chief executive officer of Standard Chartered Bank for Asean and South Asia has arrived in Dhaka for an official visit During the visit she will meet with some of the banks key stakeholders regulators and clients the bank said in a statement

Daily News Flash 12th November 2017

9

Her visit comes following recent changes in the banks senior management with Naser Ezaz Bijoy being appointed as the CEO of Standard Chartered Bangladesh Bijoy replaced Abrar A Anwar who took charge of the banks operations in Malaysia ldquoAnnas visit reiterates the Groups strong commitment to drive commerce and prosperity in Bangladesh and aid the development of the nations financial sectorrdquo said Bijoy in the statement ldquoAs the oldest financial institution in the country with a heritage of over 112 years and deep local knowledge we remain firmly committed to being a partner in progress to our nationrdquo Marrs is also the CEO of Standard Chartereds commercial and private banking business globally She joined Standard Chartered as group head of strategy and corporate development in January 2012 In her role as the head of strategy Marrs led reviews of the banks businesses globally with notable projects focusing on Nigeria China and India Prior to joining Standard Chartered Marrs was a partner in McKinsey amp Companys banking practice She started her career at DE Shaw a New York-based investment firm Marrs holds an MBA from London Business School and an undergraduate degree from Northwestern University in Chicago Source httpwwwthedailystarnetbusinessstanchart-top-official-town-1489969

EXPORTS SPRING BACK

Exports bounced back in the month of October fetching $284 billion on the back of higher shipments of apparel products ldquoYes garment export is rebounding after a slowdown over the last few monthsrdquo said Siddiqur Rahman president of the Bangladesh Garment Manufacturers and Exporters Association Garment shipments which typically fetch 82 percent of the export earnings brought home $229 billion last month up 4136 percent from the previous month and 602 percent from a year earlier ldquoI hope garment shipments will only increase from here onwards as the peak season is coming uprdquo he added Octobers receipts are higher than the previous months by 399 percent and the previous years by 637 percent according to data from the Export Promotion Bureau The amount which beat the target of $268 billion set by the commerce ministry for the month takes the tally so far in the fiscal year to $1151 billion In the first four months of fiscal 2017-18 leather and leather goods shipment the second largest export earning sector after garment declined slightly It raked in $42844 million down 002 percent from a year earlier But jute and jute goods the next big export earner saw its receipts soar 1646 percent to $34501 million during the period The sectors prospects on the global stage brightened after the long-delayed diversification of the product range and the higher demand for Bangladeshi made jute yarn for carpets and rug manufacturing in Turkey and some Middle-eastern destinations according to industry people Moreover jute exports to Japan and Russia are increasing due to higher demand of natural fibre-

Daily News Flash 12th November 2017

10

made products there exporters said Home textile exports increased 2037 percent year-on-year to $26079 million while the shipment of agricultural products like vegetable fruits spices cut flowers grew 2022 percent to $20321 million Frozen fish live fish and shrimp export increased 1541 percent to $22691 million which is 3721 percent higher than the target for the period Shrimp exporters said they have been receiving better prices from buyers as the demand for the black tiger variety of shrimp increased in the western world Last year shrimp exporters received $550 to $650 for a pound of shrimp but this year they are receiving between $750 and $8 according to exporters Pharmaceuticals exports grew 1731 percent year-on-year to $3219 million and furniture exports 1881 percent to $1415 million Source httpwwwthedailystarnetbusinessexports-spring-back-1489108

EXPORTERS SEEK LONG-TERM TAX ENERGY POLICIES Exporters yesterday demanded long-term and stable tax and energy polices such that they can make their future investment plans accordingly ldquoWe need a long-term roadmap from the government on taxes and energy prices and supplyrdquo said Fazlul Hoque former president of Bangladesh Knitwear Manufacturers and Exporters Association Every year before the budget the National Board of Revenue increases the source tax on export receipts only to bring it down later following requests from businessmen or under political pressure he said For instance the government has been importing liquefied petroleum gas for supplying to the industrial units But it is not clear yet how and when the gas would be supplied to the industrial units he said ldquoHowever it is very simple to fix the rate for the long term so that the businessmen can predict their expenditure and plan for futurerdquo Hoque said at a roundtable on the export potential of Bangladesh Bangla daily the Prothom Alo and banking giant HSBC jointly organised the discussion at the newspapers office in Dhaka where a minister exporters bankers manufacturers and entrepreneurs spoke Siddiqur Rahman president of Bangladesh Garment Manufacturers and Exporters Association echoed Hoques views He also complained about the poor state of the premier Chittagong port and airport in Dhaka Not only the sea port and airport the poor state of the Dhaka-Ashulia highway is also responsible for the bad transportation system The truckers demand higher fares because of the rundown roads between Dhaka and Ashulia-Savar he said Subsequently he called for the highways to be expanded into six lanes as hundreds of garment factories are located on both sides of the road David Hasanat chairman and chief executive officer of Viyellatex Group a leading garment exporter said the garment sectors success stories should be spoken of more ldquoWe should also continue with the PR initiative to carve out a positive picture of the countrys successful garment sectorrdquo he added The exporters of Bangladesh are responsible for not only driving economic growth but also for establishing the Bangladesh brand across the world said Francois De Maricourt chief executive officer of HSBC Bangladesh Muhammad Shohiduzzaman country head of global trade and receivables finance of HSBC Bangladesh said the popularity of export through open accounts system has increased worldwide due to simplicity of the process Bangladesh can also adopt it instead of the time-consuming and traditional letters of credit system he said

Daily News Flash 12th November 2017

11

Saiful Islam president of Leathergoods and Footwear Manufacturers and Exporters Association of Bangladesh (LFMEAB) said the condition of the customs department at the Chittagong port has worsened Customs officials take a lot of time to scrutinise the imported goods meant for manufacturing in the factories Islam said adding that the Chittagong port should have a contingency plan to avoid any kind of sudden deterioration in the system Abu Taher former chairman of the LFMEAB said the global market size of leather goods is $240 billion and in a few years time China will be importing another $100 billion worth of leather and leather goods and footwear ldquoSo we have a lot of opportunity to export leather goods worldwide We need export diversificationrdquo Taher said The demand for diversified jute goods like yarn has been increasing worldwide so the scope for jute and jute goods exports is also rising worldwide said Mahmudul Haque managing director of Sadat Jute Industries Limited ldquoWe need the governments support to make the best of this global opportunityrdquo he added MA Mannan state minister for finance and planning said sometimes the governments activities are stopped through filing writ petitions in the court ldquoThis is one of the major reasons for the slow progress of the governments development projectsrdquo he added Abdul Qayyum associate editor of the Prothom Alo moderated the roundtable Source httpwwwthedailystarnetbusinessexporters-seek-long-term-tax-energy-policies-1489123

DOLLAR SUDDENLY BECOMES DEARER

A frequent traveller who often buys foreign currency from an international bank in Dhaka was charged about Tk 86 for a US dollar on Wednesday Just a month ago he bought a dollar for Tk 83 This sudden rise in dollar price might not make much of a difference to individuals who purchase foreign currency in small amounts and infrequently but for importers who have to settle huge bills it is a major blow For instance if the price of a dollar goes up by even Tk 1 the importer has to bear an additional cost of Tk 10 lakh for $1 million Presently the bills for collection sell rate (at which import payments are made) of a dollar hovers around the Tk 83-mark and the rate goes up further for foreign banks that dominate the currency market The situation has forced the Bangladesh Bank to intervene sitting down with the banks and treasury officials twice in the last two weeks other than selling greenbacks Bankers blamed the depreciation of the local currency on the mismatch between demand and supply of the dollar

Daily News Flash 12th November 2017

12

Remittance and exports the two major sources of foreign currency for Bangladesh are in the slow lane while imports have ballooned Yesterday the inter-bank exchange rate of the US dollar stood at Tk 8095 up from Tk 7849 a year earlier The central bank has already sold $126 million to banks this month to halt the depreciating trend of the taka according to a Bangladesh Bank official ldquoBut it is not yielding the desired result as the demand for the US dollar continues to riserdquo From July 1 to November 9 the central bank has sold $440 million to banks In contrast it sold $175 million and purchased $193 billion during the course of fiscal 2016-17 Some banks are now trading the US dollar with each other bypassing the inter-bank exchange rate set by the central bank meaning that they completed the transaction beyond the rate the BB official said The central bank has put a cap on the US dollar at inter-bank exchange rate plus Tk 2 on April 27 in a meeting with the Association of Bankers Bangladesh with a view to keeping the market stable Besides on Monday it warned a number of banks for such unethical practice and asked them to strictly follow the inter-bank rate to settle foreign exchange transactions among them ldquoSome banks had secretly struck up deals between themselvesrdquo said Md Arfan Ali managing director of Bank Asia adding that the banks were forced to settle transactions at the higher rate because of the scarcity of the US dollar Banks usually do not get greenbacks from the central bank which compelled them to settle the deal avoiding the inter-bank rate said Syed Mahbubur Rahman managing director of Dhaka Bank Subsequently he urged the government to take initiatives to increase export earnings and remittances to ensure steady supply of the US dollar ldquoThe current account balance posted a huge deficit in the first quarter of the fiscal year This reflects the existing foreign currency shortagerdquo he added Between the months of July and September the current account deficit stood at $179 billion in contrast to $539 million in the surplus a year earlier according to data from the central bank During the period the trade deficit widened to $365 billion from $156 billion a year earlier Source httpwwwthedailystarnetbusinessdollar-suddenly-becomes-dearer-1489096

POLICY SUPPORT NEEDED TO DIVERSIFY EXPORTS ANALYSTS The government should extend its policy support beyond the garment sector in order to diversify exports said experts yesterday ldquoWe will have to give importance to various promising sectors which are apparently not visible like the garment sector to diversify exportsrdquo said Prof Wahiduddin Mahmud an eminent economist He said the government would have to provide subsidies to small sectors mostly manufacturing industries to carry on the existing export growth momentum He was speaking at the Bangladesh Enterprise Institutes stakeholder consultation workshop on ldquoExport Diversification Challenges and Prioritiesrdquo IFIC Bank organised the programme at its headquarters in Dhaka Commerce Minister Tofail Ahmed said Bangladesh would be able to reach its export target of $60 billion by 2021 Prof Mahmud said the manufacturing sector should be focused to make the countrys growth export-led Otherwise it would not be possible to maintain the current share of exports to the GDP after two or three years Salman F Rahman vice-chairman of Beximco Group who chaired the workshop said the government will have to extend the bonded warehouse facilities to all sectors and give cash incentives to small sectors

Daily News Flash 12th November 2017

13

He said the government is cutting various policy supports including cash incentive for the garment sector ldquoBut it is not the right time to discontinue the incentivesrdquo The businessman urged the government to continue its support so that the garment sector can maintain its growth momentum Mustafizur Rahman a distinguished fellow of the Centre for Policy Dialogue said intra-garment diversification needs to continue to boost exports He said the exchange rate should be kept at the level that helps exporters The economist said pharmaceutical leather and light engineering sectors have huge opportunities to contribute to exports if they receive supports Allah Malik Kazemi change management adviser to the Bangladesh Bank said the global slowdown has affected the exporters He said the central bank keeps the interest of exporters in mind while managing the foreign exchange market Md Nojibur Rahman chairman of the National Board of Revenue said there is political commitment from the government to stand by exporters He emphasised export diversification saying the NBR also has a role to play by way of supporting small sectors Kazi M Aminul Islam executive chairman of the Bangladesh Investment Development Authority said the government would have to put more emphasis on agriculture and manufacturing sectors to diversify exports He said the garment sector grew fast riding on the policy support provided by the government in areas such as bonded warehouse exchange rate and incentives ldquoOther promising sectors should be provided the same policy support so that they can growrdquo he said Mohammad A Razzaque project leader of the BEI said it is stated that the non-garment exports will not grow because of the policy support provided to the garment sector He disagreed with the argument saying promoting export diversification and maintaining the garment sector dynamism must go hand in hand BEI President Farooq Sobhan also spoke Source httpwwwthedailystarnetbusinesspolicy-support-needed-diversify-exports-analysts-1489081

DIGITAL HUNDI SHRINKS REMITTANCE FLOW THROUGH BANKS BIBM Hundi traders have been fast transferring remittance to relatives of expatriate Bangladeshis through mobile services which have resulted in a fall in the amount of money sent through banking channels This was reflected in a research report by the Bangladesh Institute of Bank Management (BIBM) The report titled ldquoIncreasing flow of remittance through banking channel Bangladesh contextrdquo was placed at a seminar at the BIBM auditorium yesterday A six-member team led by BIBM Director Shah Md Ahsan Habib prepared the report According to the report remittance flow decreased in recent times all over the world but the fall in Bangladesh was more as it accounted for a considerably high amount of remittance generated in total The report identified several reasons for which remittance was plunging including bank branches being distant from the houses of remitters relatives The report also mentioned a lack of good behaviour on the part of bankers requirement of various documents and weekly holidays as causes BIBM Supernumerary Professor Yasin Ali said the scope of mobile banking has much increased in the last five year but banks have failed to utilise the channel He said banks have to provide remitters the opportunities which were offered by unofficial channels otherwise inflow of remittance through the banking channel would plummet

Daily News Flash 12th November 2017

14

Another BIBM Supernumerary Professor Helal Ahmed Chowdhury said the cost of sending remittance through banking channels was higher the effect of which was falling on remittance inflow Chowdhury said an initiative has to be taken to slash the cost of transferring remittance to increase the inflow through banking channels SK Sur Chowdhury deputy governor of Bangladesh Bank said remittance flow to Bangladesh declined by 1110 percent in 2016 due to lower oil prices and fiscal policy tightening in the Gulf Cooperation Council countries It is hoped that awareness programmes would encourage non-resident Bangladeshis to come forward to know the importance of channeling their money through banks he said Chowdhury also said to ease the flow in the formal channel Bangladesh Bank has reduced the security deposit requirement for exchange houses abroad to establish drawing arrangements with local banks In addition to their own bank branches and ATM booths banks are now using the branch networks of microfinance institutions and post offices as sub agents for remittance distribution Remittances are also distributed through agent banking such as that provided through Singer Bangladesh Limited outlets he said Furthermore Bangladesh Bank has established a separate ldquoFinancial Integrity and Customer Interest Protection Departmentrdquo to handle complaints and suggestions of customers or stakeholders at home and abroad to ensure smooth and hassle free services The ldquo16236rdquo hotline is to address customers hassles if any He said at the moment no bank can take more than two days in reaching remittance to designated beneficiaries Source httpwwwthedailystarnetbusinessdigital-hundi-shrinks-remittance-flow-through-banks-bibm-1489075

JOINT VENTURE TO PRODUCE 600MW IN MATARBARI

A joint venture between Japans Mitsui amp Co and a state-run Bangladeshi company is going to set up a liquefied natural gas-based power plant at Matarbari in Maheshkhali upazila to produce 600 megawatts of electricity Coal Power Generation Company Bangladesh Ltd yesterday signed a primary agreement with Mitsui amp Co to this effect in Dhaka on Wednesday according to a statement of the power and energy ministry The companies will have 50-50 ownership in the joint venture that will complete the project by 2021 The government has taken initiatives to import a huge amount of LNG from next year Both land-based and floating LNG terminals will be set up The government has approved two floating LNG terminals each of which will supply 500 million cubic feet of gas per day In July state-run Petrobangla and US-based Excelerate Energy signed the final deals to set up Bangladeshs first LNG terminal in Maheshkhali which will supply gas to the national grid from early 2018 The government also awarded Summit Group the work to set up the countrys first floating LNG terminal also in Maheshkhali This one is due for commissioning by next October Source httpwwwthedailystarnetbusinessjoint-venture-produce-600mw-matarbari-1489069

Daily News Flash 12th November 2017

15

EXPORTS TO EU STATES BUT GERMANY POST ENCOURAGING GROWTH

Bangladeshrsquos export earnings from European countries except Germany registered a significant growth in the July-October period of this financial year 2017-18 riding on an excellent performance of readymade garment products According to the Export Promotion Bureau data exports to major European countries registered double digit growth in the four months of FY18 while the RMG export to Germany fell in the period compared with that in the same period of last fiscal year The EPB data showed that Bangladesh suffered a negative export growth in two promising markets mdash Japan and China mdash in the July-October period of FY18 Exporters said that earnings growth in the EU markets increased in recent months as the euro appreciated against the dollar They also said that buyers and brands cut import orders from Bangladesh for their Chinese stores that caused the negative growth Export earnings from the UK the second largest export destination for Bangladesh in the EU grew by 2084 per cent to $134 billion in the four months of FY18 from $111 billion in the same period of FY17 Earnings from apparel products fetched $125 billion with 2227 per cent growth in the period Export earnings from Spain in July-October in FY18 grew by 2581 per cent to $80102 million from $63670 million in the same period of FY17 Export earnings from the Netherlands rose by 3416 per cent to $40108 million in the four months of FY18 Bangladesh earned $58097 million from France with 270 per cent growth and $46374 million from Italy with 1206 per cent growth Exports to Germany the second largest export destination for Bangladesh in the July-October period of FY18 stood at $186 billion the same amount earned in the July-October period of FY17 Anwar-ul-Alam Chowdhury Parvez former president of the Bangladesh Garment Manufacturers and Exporters Association said exports depend on season and the earnings from Germany would increase from November RMG export earnings fell by 039 per cent to $173 billion from $174 billion in the market data showed lsquoWe have to wait to identify the reasons for the stagnancy of growth in the German market Hopefully the export would rebound in the market in the coming monthsrsquo Md Fazlul Haqe former president of the Bangladesh Knitwear Manufacturers and Exporters Association told New Age on Saturday

Daily News Flash 12th November 2017

16

Export earnings from the US the largest destination for Bangladeshrsquos exports in the July-October period of FY18 grew by 228 per cent to $187 billion from $183 billion in the same period of FY17 Apparel export to the market grew by 244 per cent to $168 billion from $164 billion The EPB data showed that the countryrsquos export earnings from Japan in the July-October period of FY18 fell by 394 per cent to $33390 million from $34760 million in the same period of FY17 Export earnings from China in the four months of the FY18 decreased by 2242 per cent to $22475 million from $28971 million in the corresponding period of last fiscal year Parvez said that the domestic consumption in China slightly decreased in recent times and global retailers also cut import orders from Bangladesh for their Chinese stores due to congestions in the Chittagong port lsquoWe are losing many orders from global brands as we have been failing to meet lead time due to the problem in the portrsquo he said Source httpwwwnewagebdnetarticle28200exports-to-eu-states-but-germany-post-encouraging-growth

REHAB LEADERS DEMAND CUT IN TAXES Realtors on Saturday urged the government to cut tax rates at different levels of the housing sector to give a much-needed boost to the sector They also requested the government not to raise question over the source of the minimum paid up capital (Tk 1 crore) a real estate company requires to be a member of the Real Estate and Housing Association of Bangladesh REHAB leaders made the requests at a joint meeting with the National Board of Revenue held in a city hotel on the day NBR chairman Nojibur Rahman attended the meeting as chief guest while REHAB president Alamgir Shamsul Alamin senior vice-president Nurun Nabi Chowdhury Shaon and vice-president Liakat Ali Bhuiyan were also present among others Alamgir said that the REHAB made it mandatory for its member companies to have Tk 1 crore paid up capital and he requested the government not raise question over that money The government earlier made it mandatory for all developer companies to be REHAB members Alamgir also urged the government to form a re-financing fund worth Tk 20000 crore under Bangladesh Bank to provide low-interest and long-term loans to the potential apartment buyers He demanded apartment registration fee to be reduced to 65 per cent from the existing 155 per cent mentioning that other SAARC countries maintained it at 4-7 per cent Alamgir said that the government was losing huge revenue due to the high apartment registration fee as buyers were showing unwillingness to register their apartments at high cost Nurun Nabi urged the government to meet the REHABrsquos longstanding demands to save the housing sector from ruination He also called for reducing corporate tax of non-public traded companies to 20 per cent from the existing 35 per cent He sought a cut in the tax on signing money to 75 per cent from the existing 15 per cent Alamgir also appealed for reducing tax rate on apartment resale to 3 per cent He also sought total 15 per cent tax and VAT on professional services like engineering and architecture from the current 27 per cent Nojibur said that an NBR-REHAB joint working group would be formed to work together for the betterment of the housing sector He also requested REHAB leaders to provide opinions on the income tax law that would be amended soon He assured them that the NBR would consider their demands Source httpwwwnewagebdnetarticle28201rehab-leaders-demand-cut-in-taxes

Daily News Flash 12th November 2017

17

BrsquoDESH BHUTAN START TRADE DATA SHARING IN JAN Bangladesh and Bhutan have decided to start exchanging export-import data from January 1 to verify trade documents to check duty evasion and other customs-related offences through misdeclarations of goods and prices during trades between the two countries The data will be mailed in the first week of the subsequent month according to the decision taken at the 3rd Bangladesh-Bhutan joint group of customs meeting held in November 7-8 in Thimphu the capital of the Himalayan kingdom Initially both sides will exchange export data of three commodities and gradually the scope will be expanded to all the export items Delegations from the both sides also agreed to boost the existing trade volume between the two countries and improve infrastructure at land customs stations of Bangladesh and Bhutan to facilitate border trade Bhutan informed the meeting that they were establishing a mini dry port at Phuentsholing which would boost border trade between the countries National Board of Revenue member (customs audit modernisation and international trade) Khondaker Muhammad Aminur Rahman and Bhutanrsquos Department of Revenue and Customs director Yonten Namgyel led the respective delegations at the meeting Following a request from Bangladesh Bhutan agreed to put necessary information including country of origin name and address business identification number and tax identification number of importer on the export packages as per the current Import Policy Order of Bangladesh Both sides also agreed to hold ground-level customs meetings twice a year alternately at Phuentsholing of Bhutan and Burimari of Bangladesh to resolve customs-related problems smoothly The two countries also decided to raise the issue of improving the infrastructure at Changrabandha (Indian LCS opposite to Burimari of Bangladesh) and Jaigaon (Indian LCS opposite to Bhutanrsquos Phuentsholing) to ensure smooth border trade between the countries Bangladesh also requested the landlocked kingdom to use Nakugaon-Dalu-Gelephu route for their imports and exports as Bangladesh has decided to upgrade Nakugaon LCS as a trade hub for border trade with India and Bhutan Bangladesh side also underscored the potentials of use of riverine routes as mode of transport for export and import of goods Bhutan may also get duty-free market access for limestone powder export to Bangladesh according to the decision of the meeting Mohammad Ehteshamul Hoque NBR first secretary of customs modernisation and international trade on Saturday told New Age that both countries had resolved some small-scale problems to facilitate bilateral trade and committed to further enhancing border trade The planned ground-level meeting of customs officials will also play a role in identifying and resolving bottlenecks in trade between the two nations he said According to the NBR data Bangladesh exported products worth $322 million to Bhutan in the fiscal year 2016-2017 while it imported from the country products worth $3315 million Bangladeshrsquos highest export earnings from the country were $913 million posted in the FY 2011-2012 and the earnings have been declining with fluctuations over the years Bangladeshrsquos major export items to Bhutan are bakery items fruit and vegetable juices tableware kitchenware and toiletry articles of plastics non-alcoholic beverages menrsquos singlets briefs pyjamas medicament mixtures rice aluminium structure and few garment items On the other hand the country imports mainly citrus fruits stone granite dolomite limestone ferro-alloys apple and gypsum from Bhutan Source httpwwwnewagebdnetarticle28202bdesh-bhutan-start-trade-data-sharing-in-jan

Daily News Flash 12th November 2017

18

TAX FAIRS AT ALL ZONES BEGIN TODAY Income tax fair begins today at all income tax zones across the country to provide taxpayers with services in a similar hassle-free atmosphere they got at recently-concluded countrywide weeklong tax fair National Board of Revenue chairman Md Nojibur Rahman on Saturday in a statement said that the decentralised fair at the zones with similar facilities like the weeklong national tax fair would continue till November 30 the last day of income tax returns submission Tax officials will also start issuing income tax ID cards from November 20 to the taxpayers under each tax zone in Dhaka Issuance of ID cards will continue till November 28 There are 31 income tax zones across the country including 15 in Dhaka and four in Chittagong Officials of the revenue board said that the NBR took the decision so that all taxpayers could file their tax returns without any hassle with maximum support from tax officials Initially the NBR planned to issue ID card from November 9 which was deferred due to lack of preparation Source httpwwwnewagebdnetarticle28203tax-fairs-at-all-zones-begin-today

BTRC LIKELY TO LOSE RIGHTS OVER UNUSED BALANCE IN BLOCKED SIMS Mobile phone operators are likely to get relief from paying the government the unused balance in the SIM cards that would be blocked by the telecom regulator for various reasons especially for illegal voice-over internet protocol calls Mobile operators however will have to return the unused balance to its owner if claimed said officials of Bangladesh Telecommunication Regulatory Commission They said that a proposed amendment to the 4G licencing guidelines that would be passed by the telecom regulator in the upcoming commission meeting following instruction from prime ministerrsquos ICT advisor and posts and telecommunication ministry The instruction was made based on a meeting between the mobile phone operators and the government high officials on the proposed 4G licencing guidelines they said As per the BTRC approved draft 4G licencing guidelines that would be revised it was mandatory for all the operators to pay the BTRC the remaining balance amount of the identified illegal prepaid VoIP callers and unsuccessful or fake SIM registration of service connection fund at the time of deactivating them It was also mentioned in the guidelines drafted earlier that there would not be any rights of the mobile network operators over the forfeited account balance of the illegal VoIP callers Whereas it was also mandatory for the operators to pay the remaining balance of such SIM cards within ten days of the following month In case of deactivation of SIM cards for illegal VoIP calls mobile operators would keep the remaining balance while operators would have to pay the balance to its owner if claimed for deactivation of SIM cards for any other reason Such specification about the unused balance would help the operators while the government would lose its rights over the forfeited fund BTRC officials said Such initiative might foil another BTRC move to take stand against the mobile phone operators for non-payment of unused balance in the SIM cards which were blocked by the telecom regulator for various reasons Countryrsquos leading mobile phone operator Grameenphone in February this year deposited Tk 733 crore to the telecom regulator against the unused balance in the connections that were blocked between 2008 and 2014

Daily News Flash 12th November 2017

19

While other operatorsmdash Banglalink Robi Airtel Citycell and Teletalk mdash were yet to pay any fund to the commission in this regard Airtel formerly known as Warid Telecom has already merged with Robi in November 2016 Apart from the unused balance issued the government acknowledged almost all the issues raised by the mobile phone operators about the 4G licencing guidelines BTRC officials said Source httpwwwnewagebdnetarticle28107btrc-likely-to-lose-rights-over-unused-balance-in-blocked-sims

BONDED WAREHOUSE BACK-TO-BACK LC SHOULD BE OPEN TO ALL EXPORTERS Bonded warehouse facility and back-to-back letter of credit facility should be open for all for the export of all sorts of goods to diversify export products said experts and businesses at a workshop on Thursday They came up with the observation while speaking at a stakeholdersrsquo consultation workshop on lsquoExport Diversification Challenges and Prioritiesrsquo organised by Bangladesh Enterprise Institute at IFIC Tower in Dhaka Commonwealth Secretariat adviser and head of international trade and regional cooperation Section Mohammad Razzaque presented a keynote paper on lsquoRevitalising Bangladeshrsquos export trade Policy issues for growth acceleration and diversificationrsquo Razzaque in his presentation said that there should be alternatives of diversifying export destinations and products to achieve $60 billion export target by the year 2021 Although the country has continued to achieve more than 6 per cent growth export to GDP ratio has declined a bit in last couple of years and to increase the ratio for sustaining economic growth there was no alternative to increasing exports he said To facilitate export diversification and ensure equal facility treatment among the exporters all the sectors should get bonded warehouse facility as well as back-to-back letter of credit facility that helped the countryrsquos readymade garment sector to grow Razzaque said Salman F Rahman private sector development advisor to prime minister also said that the bonded warehouse and back-to-back LC facilities should be opened for all to support other exporters Suggesting for the continuation of existing facility for the RMG sector Salman also president of BEI said lsquoWe need product diversification for the economic growth but not at the cost of RMG sectorrsquo Former Dhaka University economics department chairman Wahiduddin Mahmud said that the gov ernment should set a broad category and announce subsidy and cash incentives for longer period to help the sectors to contribute to exports as well as economic growth Speaking about the exchange rate issue the eminent economist also said lsquoAs balance of payment has turned negative the government should not try to control the exchange rate anymorersquo Centre for Policy Dialogue distinguished fellow Mustafizur Rahman said lsquoApart from diversification of other products intra-RMG sector product diversification is also important as we have created a strong foothold in the sector and itrsquos a one trillion dollar marketrsquo Speaking about the repeated change in policy Federation of Bangladesh Chambers of Commerce and Industry president Shafiul Islam Mohiuddin said lsquoElectricity price has been doubled with just a so-called hearing and that led our foreign partners to backtrackrsquo Speaking about the 070 per cent source tax imposed on apparel sector commerce minister Tofail Ahmed said rsquoAlthough we cannot do a lot for the sector but such tax should not remain on the sectorrsquo Source httpwwwnewagebdnetarticle28039bonded-warehouse-back-to-back-lc-should-be-open-to-all-exporters

Daily News Flash 12th November 2017

20

GOVT TO SPEND FUND FOR TOBACCO CONTROL MEASURES CAMPAIGNS The government has finally framed a policy on the use of health development surcharge it imposed on tobacco products three and half years ago The health and family welfare ministry on Wednesday issued the gazette notification of Health Development Surcharge Management Policy-2017 identifying 16 sectors for spending the fund on The fund will mainly be used for limiting the demand for and supply of tobacco products financing tobacco control activities conducting researches and campaigns and operating Tobacco Tax Cell of the National Board of Revenue The revenue board in July 2014 imposed 1 per cent surcharge on all tobacco products both locally produced and imported ones aiming to spend the fund for implementing the programmes to control and discourage the use of tobacco products and prevent tobacco-related diseases In the last three fiscal years (2014-15 2015-16 and 2016-17) the tax authority collected around Tk 900 crore as health development surcharge from tobacco products including cigarette bidi gul zarda and other smoking and chewing tobacco products But the fund remains idle as the health ministry has not got the access to the fund over the years as there was no policy on how to the money be used Officials of the revenue board said that formulation of the policy had paved the way for utilising the fund for tobacco control and prevention of tobacco-related diseases They said that every year around Tk 300 crore would be added to the fund According to the policy the collected surcharge will be used for financing national tobacco control activities operation of the NTCC under the ministry campaigns in the mass media on health hazards of tobacco products and tobacco control and providing trainings to stakeholders The fund will also be used for setting up National Quitline a hotline to help people quit tobacco consumption and providing financial and technical support to organisations for implementation of programmes to prevent tobacco-related non-communicable diseases Programmes will also be taken to create awareness among farmers against tobacco cultivation and motivate them to cultivate alternative crops according to the policy According to the policy a Health Development Surcharge Management Committee headed by the health minister will supervise the proper use of the fund The National Tobacco Control Cell will provide secretarial support to the committee Fund from other sources such as possible imposition of any surcharge on products hazardous to health in future and donations from local and foreign sources will also be added to the fund it said The expenditures from the fund will be audited in line with the methodology followed for the other government agencies it said According to the Global Adult Tobacco Survey-2009 some 413 crore people or 43 per cent of the total population of Bangladesh consume tobacco products On the other hand 430 crore people are victims of indirect smoking According to the World Health Organisationrsquos 2004 data 57000 people die every year in Bangladesh suffering from tobacco-related diseases The government has taken an initiative to make the country smoking free by 2040 Source httpwwwnewagebdnetarticle28040govt-to-spend-fund-for-tobacco-control-measures-campaigns

STUDY BLAMES MOBILE HUNDI FOR FALLING REMITTANCES THRU BANKING CHANNEL A study of Bangladesh Institute of Bank Management on Thursday blamed Hundi through mobile financial services including bKash Rocket mCash and UCash for decreasing remittance through banking channel

Daily News Flash 12th November 2017

21

The study conducted by a six-member team identified distance of bank branches delay in receiving money misconduct by bankers submission of various documents weekly holidays of banks and illegal immigrants as the reasons for increasing remittance inflow through mobile Hundi The six-member team headed by BIBM director Shah Md Ahsan Habib presented the study at the seminar presided over by BIBM director general Toufic Ahmad Choudhury held in the auditorium of the institute in the city lsquoIn Bangladesh remittances declined by an estimated 111 per cent in 2016 in the face of lower oil prices and fiscal tightening in the GCC countries Among other reasons use of Illegal channel by the expatriates is doing harm to our countryrsquo Bangladesh Bank deputy governor Shitangshu Kumar Sur Chowdhury said He said that it would not be possible to stop Hundi totally but BB is working to check the transactions through the illegal channel To ease the formal channel BB has reduced the security deposit requirement for the exchange houses abroad to make arrangements for remittances with local banks Shitangshu said The BB deputy governor hoped that Non-Resident Bangladeshis would come forward to know the importance of their money to be sent through banking channels BB former executive director Yasin Ali said that national economy was being hindered due to remittance inflow through illegal channels He suggested using mobile banking facilities for remittance inflow saying that the area of mobile banking expanded many fold in last five years Helal Ahmed Chowdhury former managing director of Pubali Bank suggested bankers to be courteous with bank customers Source httpwwwnewagebdnetarticle28041study-blames-mobile-hundi-for-falling-remittances-thru-banking-channel

POLICY SUPPORT MUST TO DIVERSIFY EXPORT BASKET Speakers on Thursday said that in order to diversify the countryrsquos export basket export-oriented businesses should be given the policy support that has proved highly successful in bringing vibrancy to the countryrsquos RMG sector They were speaking at a workshop styled ldquoExport Diversification Challenges and Prioritiesrdquo organised by Bangladesh Enterprise Institute (BEI) in the auditorium of International Finance Investment and Commerce Bank in Dhaka Dr Mohammad A Razzaque former head of International Trade Policy at Commonwealth Secretariat in London presented a keynote paper in the programme chaired by Salman F Rahman private sector development advisor to Awami League President and Prime Minister Sheikh Hasina Skill development measures may also play a vital part in this regard Salman said export diversification would be possible only when adequate and appropriate policy support is provided to all export-oriented industries Dr Razzaque in his keynote paper suggested revamping and deepening policy support such as providing cash assistance and bonded warehouse facilities to all such industries to improve their export competitiveness He also highlighted the need for further expanding Bangladeshrsquos export basket as its penetration into global export markets in the last decade was very insignificant Eminent economist Prof Wahiduddin Mahmud said ldquoIn addition to providing subsidies and cash incentives to thriving and promising sectors on a long-term basis the government should take measures to strengthen the countryrsquos manufacturing baserdquo

Daily News Flash 12th November 2017

22

Shafiul Islam Mohiuddin president of the Federation of Bangladesh Chambers of Commerce and Industry said the governmentrsquos support is a must to create a strong manufacturing base for export diversification ldquoSkill development measures may also play a vital part in this regardrdquo Addressing the event as the chief guest Commerce Minister Tofail Ahmed said export diversification depends on businessmenrsquos initiatives He however pledged all necessary support from the government for export diversification to meet the countryrsquos $60 billion export target by 2021 BEI President Farooq Sobhan emphasised engaging the private sector in relevant policy discourses to achieve the target ldquoA private sector-oriented policy mechanism is very important as rapid changes are taking place in the global trade landscape Understanding implications and generating timely policy responses to unfolding developments will be meaningful only when the private sector is able to benefit from themrdquo said Sobhan Among others Mustafizur Rahman a fellow at the Centre for Policy Dialogue Kazi M Aminul Islam executive chairman of Bangladesh Investment Development Authority Bijoy Bhattacharjee vice chairman of Bangladesh Export Promotion Bureau and Md Nojibur Rahman chairman of the National Board of Revenue also spoke Source httpwwwdhakatribunecombusinesseconomy20171109policy-support-must-diversify-export-basket

BANKS LACK REMEDIAL STRATEGY WHILE NPL RISES WORRYINGLY Some of Bangladeshs banks dont have in-depth look into the problem of spiraling non-performing loans (NPL) while many others try to frame remedial strategies perfunctorily Such observations came out from studies on banking as well as financial sector at large as the NPL surge worries many quarters One finding shows that around 11 per cent of the countrys banks did not have an in-depth look into the issue of NPLs in the past year despite a growing concern over the problem in the financial arena The recent industry-wide survey also revealed that around 30 per cent of the countrys banks had not assessed their past NPL-reduction strategies at all while 36 per cent did so only on an ad-hoc basis The findings came out from the survey of the Chief Risk Officers at the banks on issues concerning NPL strategy in their institutions Leading banking research and training institution Bangladesh Institute of Bank Management (BIBM) conducted the study The research findings come at a time when the ballooning NPLs is becoming a major issue with the countrys banking industry and also triggering concerns and criticisms As per the central bank data the volume of NPLs had increased by more than 21 per cent to Tk 62172 billion by the end of 2016 swelling from Tk 51371 billion a year before The findings are genuinely surprising as we are struggling to find a bank for which NPL is not an issue in some capacity said Sazib Azad Senior Advisor of BIBM who led the research initiative Furthermore if the bank itself is immune to the impact of NPL even then they need to consider whether they are immune from structural or market-level impacts as well he told the FE However relevant survey results show the potential lack of such considerations as only 10 per cent of bank CROs taking part in the survey said that their banks are addressing potential dependence on market assessment and strategy What is more surprising is that the NPL strategies of around 62 per cent of the banks are not signed off by the boards the survey found

Daily News Flash 12th November 2017

23

This is quite striking because given the severity of the non-performing-loan issue the NPL strategy should be signed off by the boards Mr Azad said adding Boards are not only accountable for the health of the banks but are also in position to release resources to get to grips with the issue In addition the survey result also revealed 31 per cent of the banks not communicating their NPL strategy across the bank NPL as an issue needs to be addressed from ground up But the results show that this is not happening at our banks said an expert who was involved with research Meanwhile 25 per cent of the CROs said they were not tracking the implementation and effectiveness of NPL strategy in their banks- something which according to experts is a cause of concern Given how critical an issue NPL exposure is we would expect every CRO to track how the NPL strategy is being implemented its effectiveness and how to improve matters to the Board Risk Committee and the Board the banking experts said Meanwhile the survey results also found that although 94 per cent of the banks had stress-tested their balance sheet in terms of NPL drag this figure drops to 56 per cent while considering the impact to and from the wider economy market and structural aspects It seems that 33 per cent of the banks do not formally consider this aspect with a further 11 per cent not looking at this dimension at all the researchers said Experts also noted that with Basel 3 farther putting capital under pressure sensible banks should dynamically model the impact of key risks to their capital However the survey results show 17 per cent of the banks are not doing so while 31 per cent doing it in a limited manner Asked whether their banks risk-appetite-statement metrics reflected their NPL strategy 36 per cent of the respondents said they do so in a limited capacity while a further 80 per cent are not doing that at all It was also found that 25 per cent of the C-Suites have specific NPL-strategy-related targets while 31 per cent of the CROs have the same Meanwhile when asked whether they consider their NPL strategy to be embedded just over half of them or 52 per cent of the survey participants said Yes This according to experts is clearly not fit for purpose given the severity of the NPL issue facing the banking sector The first step in looking into the NPL issue is to assess internal capabilities to effectively manage NPLs Next external conditions or operating environment needs to be considered Finally the capital implications of the NPL strategy need to be analyzed said Sajib Azad The findings of the survey will be shared with the stakeholders during the next CRO forum of BIBM expected to take place next month where the issue of Risk Culture will also figure high The biggest reason for the swelling of NPL in our banking sector is a lack of good governance To check the ballooning of NPL the internal governance of the banks has to be strengthened above all Director-General of BIBM Toufic Ahmad Choudhury said Meanwhile the survey also found banks tending to consider time-horizon portfolio segment and exposure-level-based targets to be broadly equally important to their NPL strategy In terms of options preferred for reducing NPL banks consider change of exposure type to be most effective (36 per cent) followed by active portfolio reductions (33 per cent) and hold forbearance (31 pe rcent) Source httptodaythefinancialexpresscombdfirst-pagebanks-lack-remedial-strategy-while-npl-rises-worryingly-1510417700

GOVT SEEKS US$183B UNDER 39TH JAPANESE ODA PACKAGE The government has sought around US$183 billion worth of assistance from Japan for bankrolling six development projects officials said Saturday

Daily News Flash 12th November 2017

24

Officials at the Ministry of Finance (MoF) said they have already discussed the issue with the Japan International Cooperation Agency (JICA) We are hopeful of receiving funds under its upcoming 39th Official Development Assistance (ODA) package to finance six development projects a senior MoF official told the FE He said a JICA mission in September-October last completed its visit to Bangladesh to explore the possibilities of financing the proposed projects We are hopeful of signing the 39th ODA package with JICA within a couple of months he said After signing the loan deal the largest bilateral donor will start disbursement of funds from the proposed $183 billion aid package for the six development projects the MoF official added The proposed six projects under the 39th ODA package are Matarbari port development Dhaka MRT line-6 construction (phase-III) Dhaka MRT line -5 feasibility study Matarbari ultra super critical coal-fired power plant (phase-IV) Jamuna Railway Bridge construction and Health service strengthening project A senior official of Economic Relations Division said the proposed 39th ODA package will be very useful for Bangladesh as it will be utilised to develop the Matarbari port ongoing Matarbari power plant project conduct feasibility study and detailed design of the MRT line-5 in Dhaka and to construct railway bridge over the River Jamuna All of these projects are very important for the country to ensure smooth transportation and uninterrupted power supply he added Japan is the largest bilateral development partner of Bangladesh Over last 5-6 years it has enhanced its aid with confirmation of more than US$10 billion worth of funds under each of the aid packages In the last 38th ODA package signed in June 2017 JICA provided Yen 178223 billion ($164 billion) for utilising in six development projects on transport infrastructure power and water sector improvement works In June 2016 Japan signed the 37th ODA deal worth $150 billion (17354 billion Japanese Yen) with Bangladesh and in December 2015 it inked the 36th ODA package confirming $12 billion concessional loan for six development projects Under the last 38th ODA package JICA offered $700 million (Yen 76825 billion) for Hazrat Shahjalal International Airport Expansion project $480 million (Yen 5273 billion) for 2nd Kanchpur Meghna and Gumti bridges construction $50 million (Yen 5593 billion) for Dhaka Mass Rapid Transit development project (Line 1) $100 million (Yen 10745 billion) for Matarbari ultra super critical coal-fired power plant $190 million (Yen 20477 billion) for Dhaka underground substation construction project and $110 million (Yen 11853 billion) loan for small scale water resources development project Japan has so far provided Bangladesh with nearly US$12 billion in assistance since the financial year (FY) 1971-72 Source httptodaythefinancialexpresscombdfirst-pagegovt-seeks-us183b-under-39th-japanese-oda-package-1510417739

SUMMIT GROUP ENTITIES TO ISSUE PREFERENCE SHARES WORTH $1250M A subscription closing ceremony to raise capital through issuance of preference shares worth BDT 1000 million (USD 1250 million) for Summit Barisal Power Limited amp Summit Narayanganj Power Unit II Limited was held recently at Pan Pacific Sonargaon Dhaka said a statement LankaBangla Finance Limited acted as the Mandated Arranger LankaBangla Investments Limited acted as the Issue Manager and The City Bank Limited acted as the Agent Account Bank amp Custodian Bank to raise the fund In the event Mr Lt Gen (Retd) Engr Abdul Wadud Managing Director of Summit Barisal Power Limited amp Summit Narayanganj Power Unit II Limited Mr Khwaja Shahriar Managing Director amp

Daily News Flash 12th November 2017

25

CEO of LankaBangla Finance Limited Mr Mohammed Nasir Uddin Chowdhury Managing Director of LankaBangla Capital Market Operations Mr Mominul Islam Managing Director amp CEO of IPDC Finance Limited Mr R Q M Forkan Managing Director amp CEO of Bangladesh Commerce Bank Limited Mr Faruq M Ahmed Additional Managing Director of Trust Bank Limited Mr Akthar Hamid Khan Deputy Managing Director of Pubali Bank Limited Mr Arif Hasan Khan Vice President of Modhumoti Bank Limited Mr Mohammad Ibrahim Khalil FCA Vice President amp CFO of Bank Asia Limited and Mr Mahbub Jamil Vice President and Head of Structured Finance of The City Bank Limited along with other senior officials from the companies were present Source httptodaythefinancialexpresscombdstock-corporatesummit-group-entities-to-issue-preference-shares-worth-1250m-1510411878

BMBA URGES MUHITH TO EXEMPT INVESTMENTS BY MF SPONSORS Bangladesh Merchant Bankers Association (BMBA) has urged the finance minister to exclude some components including sponsors investments in mutual funds (MFs) from the banks exposure to the capital market It made the request for ensuring an environment conducive to gradual development of the capital market according to a proposal submitted to Finance Minister AMA Muhith last week The BMBA said the long-term or strategic investments needed to be excluded while calculating the exposure as these investments were not intended for frequent trading Non-convertible preference shares and non-listed securities also need to be excluded from the capital market exposure as it will never influence the capital market volatility it said in a letter to the minister According to the letter the MFs are passive investments where investors themselves are not involved in investment decision making and such fund portfolios are mostly of long-term nature than frequent trading On the other hand the sponsors of the MFs need to hold 10 per cent of the investment until liquidation of the fund So considering the fact the sponsors portions in MFs need to be excluded from the banks capital exposure said the BMBA proposal As per the Banking Act 1991 it said reporting requirement is on solo basis but the central bank has introduced consolidated calculation which is of dual effectdouble counting in the market exposure This kind of restrictive measure creates panic situation in the market and may hinder the potentials and prospects of the capital market as a whole the BMBA said It also said that this kind of practice needed to be stopped as such requirements and reporting practice would further squeeze the market and that the investors would lose their interest The BMBA said some organisations have invested on strategic purpose and were holding positions in the board and their exposure increased with rising the market price of MF units On the other hand in compliance with the securities rules they are unable to sell shares to reduce exposure the BMBA said terming the situation complicated In its letter the BMBA said that the capital market exposure of some banks and financial institutions increased without fresh investments following the upward trend of the market price as the exposure is calculated on the basis of market price If the banks need to go for selling off their excess exposure this will create unnecessary selling pressure on the market said the BMBA The association requested the finance minister to consider their proposal to facilitate the growth of the capital market by its own strength and prospect Source httptodaythefinancialexpresscombdstock-corporatebmba-urges-muhith-to-exempt-investments-by-mf-sponsors-1510411950

Daily News Flash 12th November 2017

26

ATIUR STRESSES ROLE OF REGULATORS IN DIGITAL FINANCIAL INCLUSION Former Bangladesh Bank Governor Dr Atiur Rahman chairs a session at the 5th Biennial Competition Regulation and Development Conference at Jaipur in India on Thursday Success of digital financial inclusion depends on the prudent role of the regulating bodies to a great extent And the recent progress in Bangladesh in this regard is a good example for the rest of the world to follow said Dr Atiur Rahman former governor of Bangladesh Bank says a statement He was chairing a session at the 5th Biennial Competition Regulation and Development Conference at Jaipur India on Thursday The three-day conference is being hosted by CUTS International and OECD Speakers of the session included Ravinder S Aurora Senior Vice President of Mastercard David Ongolo Kenyan Competition Authority and Dr A K EnamulHaque Professor of East West University Dhaka Many developing countries survived and even thrived during the last global financial crisis because they chose to follow a broad-based financial inclusion strategy And digital solutions played a crucial role in this financial inclusion drive said Dr Rahman He added that service providers must focus on reaching out to the customers in the rural socio-economic conditions Dr Rahman said that experience from Bangladesh can answer many of the burning questions regarding digital financial inclusion The central bank of the country has facilitated bank-led digitisation drive Be it Mobile Financial Service or be it Agent Banking the Bangladesh Bank has encouraged traditional players (ie the commercial banks) to lead the way And it has been proven to be very successful He also said that the world is witnessing only the beginning of the digital finance revolution Hence we must learn from all these experiments share our experiences and know-hows Only then we can work towards shaping global standards and practices Dr Rahman finally asked all central banks to be more proactive and collaborative with other stakeholders including non-traditional financial service providers to facilitate orderly development of digital financial inclusion so that consumers interests are better protected The grievance redressal mechanism developed in Bangladesh Bank with infusion of state of the art technology to gain trust of the customers in financial inclusion was also discussed widely in the session The panelists highly appreciated Bangladeshs regulatory move with public interest in mind using latest technology for replicable digital financial inclusion Source httptodaythefinancialexpresscombdtrade-marketatiur-stresses-role-of-regulators-in-digital-financial-inclusion-1510416319

FAO FEARS NEGATIVE BD FOOD OUTPUT GROWTH ON FLOODING Recent flooding has dampened the outlook for Bangladesh a likely third successive season of little or negative food production growth mainly rice reports UNB quoting FAO Barring major setbacks production recoveries could instead permit Bangladesh and Sri Lanka to slightly lower their 2018 imports to 11 million and 450 000 tonnes respectively according to the latest Food Outlook published by the UN Food and Agriculture Organisation (FAO) Among other rice importers Bangladesh Iraq Nigeria and the Philippines are all similarly predicted to replenish their inventories according to the report a copy of which obtained by the news agency These gains are however likely to be offset by stock reductions in the Republic of Korea Madagascar Sri Lanka and the United Republic of Tanzania all linked to output shortfalls Although the use of rice as animal feed is being sustained by the release of supplies from government granaries in Japan the Republic of Korea and Thailand more affordable feedstuffs are expected to displace rice in most other countries especially in Bangladesh China (Mainland) and Vietnam

Daily News Flash 12th November 2017

27

Since the previous Food Outlook report a series of unfavourable climate-related events have affected main paddy crops in the Northern Hemisphere which have now reached the harvesting stage This has been the case in Asia where unlike 2016 the critical Northern Hemisphere summer months were characterised by mixed growing conditions that inhibited planting expansions As a result FAOs latest forecast of world rice production in 2017 points to a broadly stable output level of 5008 million tonnes Production in Asia is now forecast to fall 550 000 tonnes below the 2016 bumper harvest to 4525 million tonnes The UN agriculture agency has said the cost of importing food is rising in 2017 driven by increased international demand for most food stuffs as well as higher freight charges The cost of importing food is forecast to rise six per cent in 2017 to $1413 trillion making it the second highest bill on record while food commodity prices have been generally stable according to the latest Food Outlook that expressed concern about the economic and social impact of this trend on poor countries Although weather disruptions are set to stall production growth this season global rice supplies are still forecast to exceed utilisation enabling a small expansion of world rice inventories Global trade is expected to rise only modestly in 2018 after staging an 8 per cent recovery in 2017 The food import bills are set to increase by double-digit rates for least-developed countries (LDCs) and low-income food-deficit countries Aromatic rice varieties have risen eight times faster than the FAO All Rice Index which is up four per cent on the year However the higher import costs come at a time when inventories are robust harvest forecasts are strong and food commodity markets remain well supplied The export of tropical fruits is promising for poverty relief and rural development as almost all production takes place in developing countries The export volumes of mango pineapple avocado and papayas are on course to achieve a total combined value of $10 billion this year according to the Food Outlook Source httptodaythefinancialexpresscombdfirst-pagefao-fears-negative-bd-food-output-growth-on-flooding-1510336161date=11-11-2017

STOCKS NUDGE HIGHER AS BANK TELECOM ISSUES SURGE Stocks extended the winning streak for the two consecutive weeks that ended Thursday as enthusiastic investors continued their buying appetite on bank and telecommunication issues Market operators said the positive momentum in some large-cap issues especially from banking telecom pharmaceuticals and food amp allied sectors helped the bourse to stay upbeat The banking sector posted the highest return of 445 per cent as 27 out of 30 listed banks ticked higher Four banks gained more than 10 per cent each The telecom sector also surged 342 per cent as Grameenphone the countrys largest market-cap listed companys shares price jumped 40 per cent to close at Tk 45690 each The market extended the winning streak riding on heavyweight bank and telecom issues said an analyst at a leading brokerage firm The week featured five trading sessions as usual Of them first session saw marginal correction while last four closed higher Week-on-week DSEX the prime index of the Dhaka Stock Exchange (DSE) jacked up by 9454 points or 155 per cent to finish at 6193 The two other indices -- the DS30 index and the DSE Shariah Index (DSES) - also closed higher at 2244 and 1341 points

Daily News Flash 12th November 2017

28

Both the indices added 4264 points and 1218 points respectively During the week banking pharmaceuticals and telecommunication sector stocks contributed more to keep the market up commented City Bank Capital Resources a merchant bank in its weekly analysis The port city bourse Chittagong Stock Exchange (CSE) also ended higher The CSCX advanced 180 points or 156 per cent to finish at 11618 International Leasing Securities a stockbroker noted that the market observed an upbeat vibe throughout the week riding on the news of soaring of net foreign investment in the capital market in the first 10 months of 2017 compared to the same period of last year Net position of foreign portfolio with the DSE stood at Tk 1623 billion in January-October compared to Tk 80 billion in the same period a year ago However some investors were reshuffling their portfolios after observing the year-end corporate declarations and first quarter earning disclosures the stockbroker added According to EBL Securities The market witnessed an upbeat tune throughout the week riding on regained confidence among the market participants The stockbroker noted that preferable year-end and quarter-end earnings declarations by several companies helped them to remain positive about market The total turnover for the week amounted to Tk 3591 billion on the DSE which was Tk 3027 billion in the week before The daily turnover averaged Tk 718 billion which was nearly 19 per cent higher than the previous weeks average of Tk 605 billion Block trade accounted for 16 per cent of the total weekly turnover where stocks like BATBC Beximco Pharma Shahjalal Islami Bank Square Pharma and Singer Bangladesh dominated the block trade board Banking sector kept its dominance over the turnover chart grabbing 35 per cent of the weeks total transaction followed by engineering with 18 per cent and pharmaceuticals 11 per cent Out of 336 issues traded 207 closed lower 116 ended higher and 13 issues remained unchanged on the DSE trading floor during the week The market capitalisation of the DSE rose 137 per cent as it was Tk 4123 billion on the opening day of the week and it stood at Tk 4179 billion on closing day of the week City Bank topped the weeks turnover chart with 5390 million shares worth Tk 184 billion changing hands followed by IFAD Autos with Tk 121 billion Brac Bank Tk 10 billion LankaBangla Finance Tk 994 million and Dhaka Bank Tk 926 million Reckitt Benckiser was the weeks best performer posting a gain of 1925 per cent while Stylecraft was the weeks worst loser slumping by 3322 per cent A new issue - Oimex Electrode-- made debut last week and soared 1042 per cent from its offer price of Tk 10 in the first trading day on Monday Source httptodaythefinancialexpresscombdstock-corporatestocks-nudge-higher-as-bank-telecom-issues-surge-1510332934date=11-11-2017

BANGLADESH GROWING AS DENIM HUB The growing global demand for fashionable denim wear encouraged both local and foreign entrepreneurs to make fresh investment in Bangladesh participants and organisers of Bangladesh Denim Expo have said Many of the 30 local denim mills are going for expansion while a couple more will come into operation with fresh investment within next two or three years they said Some foreign companies are opening offices or setting up factories in Bangladesh they added The seventh edition of the two-day Bangladesh Denim Expo was held in the city recently with the theme transparency to highlight the need for transparency in the entire denim supply chain

Daily News Flash 12th November 2017

29

A total of 65 exhibitors from 12 countries participated in the show while more than 12 thousand visitors from across the world registered online to attend the two-day expo organisers said Talking to the FE on the sidelines of the expo Md Khalid Mosharof assistant general manager at Dekko Group said the group invested Tk 15 million in setting up a new factory of 44 lines at Ashulia that would go for denim item production in June next The main reason is to tap the growing global demand he said Echoing him Syeed Ahmed Chowdhury general manager operation at Square Denim said the company expanded its denim fabric production capacity to 30 million yards from the existing 15 million yards per month mainly to meet the demand He however opined that the expansion is taking place more in garment segments than in fabric production There is no alternative to expansion to sustain the existing business and achieve the $50 billion garment export earnings target by 2021 Sharif Zahir managing director of Ananta Group said stressing the need for positive branding of the sector Meanwhile Landes a German denim accessories maker started production in its new factory at Savar from this month It invested US $05 million We opened the factory in Bangladesh as we think this is the hub for denim business and there is a lot of business prospects here Manfred Slowik chief operating officer of Landes told the FE at his stall at the expo By the end of next year the total workforce in our new plant will be 120 people as we are recruiting new people from existing 30 Mr Slowik said Landes has a target to produce 500 million pieces of leather patches used in denim trousers as accessories in a year at its Savar plant from where such accessories will be supplied to the whole Asian region Many big brands like HampM VF and Walmart are their customers he said Nezahat Boni senior account manager of Orta a Turkish denim maker said her company supplies 30 million metres of denim fabrics in Bangladesh in a year against only 800 meters in 2011 We opened an office in Bangladesh in 2011 as we cannot ignore the importance of this country as a denim hub she said Prosperity Textile a Chinese company opened its office in Dhaka last year said Md Mujibul Hoque the companys Bangladesh Sales Director The company has targeted sale of 100 million yards a year across the globe while it also targets 30-40 per cent of their sales in Bangladesh Bangladesh is now the top denim products supplier to the European Union overtaking China and third largest to the US after China and Mexico industry people said Bangladesh supplies denim products to major global buyers and retailers including levis G-Star Raw HampM Tesco Wrangler Hugo Boss Walmart and Gap Source httptodaythefinancialexpresscombdtrade-marketbangladesh-growing-as-denim-hub-1510332061date=11-11-2017

EXPORTS UP 70PC IN JULY-OCTOBER Countrys export earnings grew by 703 per cent to US$1150 billion during first four months of the current fiscal year (FY 2017-18) according to official data released Thursday The earnings were $1079 billion in the same period (July-October) last FY In October 2017 the exports grew by 642 per cent to $284 billion the Export Promotion Bureau (EPB) data showed The overall exports in the first four months slightly (074 per cent) fell short of the periods target In October however the exports were 628 per cent higher than the months strategic target Readymade garment shipments fetched $943 billion marking 699 per cent growth during the period as compared to $882 billion in the same period of last FY

Daily News Flash 12th November 2017

30

The woven items registered 385 per cent growth in earnings to $445 billion than that of $428 billion in the same period of FY 2016-17 The earnings from knitwear export during the period grew by 995 per cent to $498 billion from $453 billion in the corresponding period of last FY Jute and jute goods exports rose by 1646 per cent to $34501 million from $29626 million in the same period of FY17 The earnings from agriculture products grew by 2022 per cent during the period while home textiles by 2037 per cent The earnings from leather and leather products however fell marginally by 002 per cent to $42844 million during the period than that of $42851 million in the same period last FY The export earnings from frozen food and live fish grew by 1541 per cent to $22691 million from $19661 million of the corresponding period of last fiscal Mahmud Hasan Khan vice president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) said the exports in the first four months of the current fiscal year fell short of the expected growth mainly because of failure in maintaining the lead time and short supply of gas and electricity Terming the knitwears growth satisfactory he said woven items manufacturers have been struggling to cope with the new challenge as buyers were reducing the volume of orders due to failure in meeting the lead time Without efficient port and strong backward linkage industry especially for the woven sub-sector it will be difficult for the sub-sector to bounce back he feared He pointed out that maximum of the woven fabric requirements were being met through imports But it was taking too much time to clear the imported fabrics and additional charges as a result at the Chittagong seaport that was facing unbearable congestion The government should provide necessary policy support to the exporters to establish strong backward linkage industry for the woven sub-sector he added Source httptodaythefinancialexpresscombdfirst-pageexports-up-70pc-in-july-october-1510248870date=10-11-2017

GAS CRISIS HURTING OUTPUT IN INDUSTRIAL BELT Factories in the countrys Tongi-Gazipur industrial belt have been facing acute gas crisis over the past few months following diversion of gas to upstream power plants The crisis has deteriorated further this week albeit some improvements for a few days last week said local industrialists and businessmen According to them if the ongoing gas crisis persists they may be forced to shut down their factories Officials of the Titas Gas Transmission and Distribution Company Limited (TGTDCL) however blamed the Petrobangla for the gas crunch Sources concerned say the industrial belt of Tongi-Gazipur is suffering badly for about four to five months from low pressure of gas coupled with poor electricity voltage -- often resulting in huge volume of industrial wastages and reduction of production efficiency According to the industry insiders a factory in the industrial belt requires 04 PSI (production per square inch) as optimum gas pressure but the pressure at times comes down to as low as 01 PSI these days -- especially during the daytime Gas pressure in the area becomes normal around 10pm11pm and stays for not more than 08 hours until 6am7am an entrepreneur of the industrial belt informed Asked an official of Titas said they are at present getting nearly 250 million cubic meters (MCM) less in recent weeks against their current demand of 1800 MCM gas in Titas franchise The downstream Titas franchise area covers greater Dhaka region which includes Gazipur alongside some other adjoining districts and greater Mymensingh he said

Daily News Flash 12th November 2017

31

A Petrobangla source however cited gas supply on priority basis to a number of upstream projects including power plants as reason behind supply shortage When asked Managing Director of Akij Group Sk Bashir Uddin termed the situation really worrisome According to him two of Akij Group companies situated in the area -- Akij Printing amp Packages Limited and Dhaka Tobacco Industries -- jointly contributed nearly Tk 35 billion (3500 crore) to the national exchequer in the 2016-17 fiscal year But were very much worried about our industrial output this year as production disruption following the twin crises involving gas supply and power supply Both will eventually disrupt our retail business in every phase he quipped This often results in a high rate of industrial wastage and reduction of production efficiency he added Bangladesh Auto Re-rolling Steel Mills amp Association Chairman Manwar Hossain who is also Anwar Group Managing Director echoed the same concern Factories in the industrial belt are now operating at one-third of their capacity which may lead to labour unrest and default of huge sum of bank loans he said Such disruption of production he cautions may even cause sudden shutdown of factories According to him none of the victims in that case will be the wilful defaulters -- they will be the victims of circumstances The businessman who has a steel factory called Anwar Ispat Limited in the industrial belt called for immediate introduction of ECM (electronically controlled meters) to check unabated gas engineering in the area which he deems to be yet another reason for gas supply crunch Titas officials according to him are encouraging co-generation scheme to help address the severe gas crisis But he said co-generation will require stable and smooth gas supply Government should ensure at least 10-15 years of smooth gas supply to encourage co-generation as what he said any industrial investment requires 20 years of payback period TGTDCL Deputy Managing Director Engineer Abdul Wahab Talukdar who is also the Project Director of Sripur-Joydevpur Transmission Pipeline Project said We cannot do anything to address the crisis if there is a lack of adequate gas supply Mentioning that all factories in the industrial belt are like my babies he unequivocally said Titas is not at fault He also admitted that priority-based power plants gas supply being the reason behind the current spell of gas crunch We have already started introducing electronic volumetric corrector (EVC) to stop illegal gas use in the area he said Factories he added should go for co-generation scheme for protecting their own interest Co-generation means utilising and absorbing heat generated from gas generators which Mr Wahab said will save energy A section of the businessmen however called for stopping fertiliser production and distributing the same among people at a subsidised price after importing it to facilitate smooth supply of gas to other industries Even if the government stops fertiliser production and opts for importing it for distribution at a subsidised rate there will only be an insignificant loss compared to the overall losses now being incurred said an industrialist who has more than one factory in the industrial belt Local sources said illegal and unapproved gas connections in various industries in and around the zone are also affecting gas supply badly among other reasons Source httptodaythefinancialexpresscombdfirst-pagegas-crisis-hurting-output-in-industrial-belt-1510249018date=10-11-2017

Daily News Flash 12th November 2017

32

SINGLE PERSON MAY FORM COMPANY A single person may form a commercial firm under a provision of the companies law being updated along with some other major business-stimulating measures Official sources said the government is considering incorporating some new provisions including one allowing individuals to form any company into the updated Companies Act The other provisions are formation of an appellate tribunal to resolve legal matters without wasting much time widespread automation of companies work and submission of annual company reports online Earlier the Ministry of Commerce (MoC) had received some recommendations from the stakeholders on how to update the law they added We got most of the recommendations from the stakeholders We hope we will be able to prepare the draft Companies Act within a month Md Obaidul Azam director trade organisations (DTO) told the FE He said the recommendations the ministry had received so far were being scrutinised before preparing a draft for updating the companies act Earlier different trade bodies had sent their respective recommendations to the MoC for incorporation into the law The MoC will hold a meeting with the countrys apex trade body after assessing the recommendations and suggestions the ministry official said Talking to the FE a leader of an influential trade body said they had sent some recommendationssuggestions to the MoC for the new Companies Act for betterment of the countrys trade and business According to Section 2 (1) (c) of the Companies Act 1994 Company means a company formed and registered under this Act or an existing company Thus a company is an association of persons formed under the Companies Act 1994 with a view to achieving some common objectives Though a company is regarded a legal person it possesses similar rights and owes similar obligations like a natural person Now any individual fulfilling the new criteria may be allowed to form a firm Source httptodaythefinancialexpresscombdfirst-pagesingle-person-may-form-company-1510249090date=10-11-2017

DSE TURNOVER CROSSES TK 80 BILLION MARK The daily turnover on Dhaka Stock Exchange (DSE) exceeded the Tk 80 billion mark on Thursday as investors took fresh exposure to the banking sector Turnover a crucial indicator of the market reached Tk 870 billion on the countrys premier bourse jumping 14 per cent from the previous days transaction of Tk 765 billion It was the biggest single-day transaction since October 11 when the turnover totalled a record Tk 1092 billion Along with rising turnover DSEX the prime index of the Dhaka bourse continued to keep its gaining momentum closing 3449 points higher at 6193 points DSEX which replaced the DGEN in nearly five years back added more than 121 points or 20 per cent in the past four consecutive sessions The two other indices -- the DS30 index and the DSE Shariah Index (DSES) -- also followed suit to end at 2244 and 1341 points after gaining 1422 points and 443 points respectively Brokers said the market maintained the bullish trend for the four straight sessions as the enthusiastic investors chased the banking sector stocks The market continued the bullish trend for the four consecutive sessions as the enthusiastic investors were active for the banking food and engineering sector stocks commented EBL Securities a stockbroker in its regular market analysis

Daily News Flash 12th November 2017

33

It noted that the core index remained positive throughout the session as optimistic investors kept buying sector-wise stocks while some rebalanced their portfolios Meanwhile share price of newly listed Oimex Electrode continued to decline for the three consecutive sessions after unusual hike during its debut trading on Monday The companys share price fell 763 per cent to close at Tk 9810 on Thursday after jumping more than tenfold during the debut trading which experts termed unusual Block trade contributed Tk 241 million to the days total turnover with stocks like BATBC Square Pharmaceuticals Singer Bangladesh and Beximco Pharma dominating the block trade board Among the major sectors pharmaceuticals posted the highest gain of 122 per cent followed by banking sector (083 per cent) food amp allied (067 per cent) engineering (033 per cent) financial institutions (003 per cent) and power (003 per cent) Only telecommunication sector faced a 045 per cent correction A total number of 0140 million trades were executed in the days trading session with trading volume totalling 23171 million securities The total market capitalisation of the DSE stood at Tk 4179 billion against Tk 4168 billion in the previous session Losers however took a modest lead over the gainers as out of 325 issues traded 140 closed lower 130 closed higher and 55 remained unchanged on the DSE trading floor City Bank dominated the turnover chart for the second day in a row with 1035 million shares changing hands closely followed by Dhaka Bank LankaBangla Finance Brac Bank and Keya Cosmetics Reckitt Benckiser was also the days best performer posting a gain of 624 per cent while Qasem Drycells was the days biggest loser shedding 1235 per cent The port city bourse Chittagong Stock Exchange (CSE) also ended higher with its Selective Categories Index -- CSCX --gaining more than 62 points to close at 11618 Losers beat gainers as 113 issues closed lower 97 closed higher and 37 remained unchanged on the CSE The port city bourse traded 1604 million shares and mutual fund units generating a turnover of Tk 483 million Source httptodaythefinancialexpresscombdstock-corporatedse-turnover-crosses-tk-80-billion-mark-1510245247date=10-11-2017

TEN COS GRAB 32PC TURNOVER ON DSE The banking sector continued to dominate the transaction chart of the Dhaka Stock Exchange (DSE) accounting for 39 per cent of the total turnover on Thursday Four banks made their way to the top 10 turnover chart with City Bank leading the chart for the second day in a row Brokers said the investors chased the banking sector issues as more than 63 per cent of listed banks showed positive earnings in the third quarter (July-September period) Meanwhile top 10 traded companies including four banks grabbed more than 32 per cent of turnover on the Dhaka bourse The total turnover on the premier bourse reached Tk 870 billion up 14 per cent from the previous days Tk 765 billion The most active shares in terms of value included City Bank Dhaka Bank LankaBangla Finance Brac Bank Keya Cosmetics Square Pharmaceuticals Beximco Pharmaceuticals IFAD Autos Exim Bank and IDLC Finance According to statistics available with the DSE about 1035 million shares of City Bank were traded generating a turnover of Tk 553 million or 635 per cent of the total transactions

Daily News Flash 12th November 2017

34

The companys share price hovered between Tk 5240 and Tk 5440 before closing at Tk 5390 advancing 228 per cent over the previous session Dhaka Bank came in next with shares of Tk 395 million changing hands contributing 454 per cent to the total turnover The banks share price closed 347 per cent higher at Tk 2380 LankaBangla notched the third spot with shares of Tk 266 million changing hands making up 305 per cent of the total turnover Its share price ended 063 per cent higher at Tk 6430 Brac Bank emerged the fourth with shares of Tk 257 million changing hands grabbing 295 per cent of the total turnover The banks share price settled 123 per cent higher at Tk 107 Keya Cosmetics featured a turnover of Tk 247 million or 284 per cent of the total turnover Its share price closed 201 per cent higher at Tk 1520 The turnover of Square Pharma was Tk 241 million or 276 per cent of the total transaction Its share price ended 612 per cent down at Tk 27890 Beximco Pharma featured a turnover of Tk 211 million or 242 per cent of the total turnover Its share price advanced 428 per cent to close at Tk 10960 The turnover of IFAD was Tk 208 million accounting for 238 per cent of the total turnover Its share price closed at Tk 14070 gaining 195 per cent Exim Bank featured a turnover of Tk 196 million or 225 per cent of the total transaction The banks share price inched up 055 per cent to close at Tk 1830 IDLC also made its way to the top ten turnover chart with shares of Tk 188 million changing hands Its share price closed 223 per cent higher at Tk 9150 Source httptodaythefinancialexpresscombdstock-corporateten-cos-grab-32pc-turnover-on-dse-1510245290date=10-11-2017

FOREIGN INVESTMENT HIKE INFO DRIVES MODERATE GAINS ON DSE The Dhaka bourse Thursday closed the session posting a moderate rise in the broad index and turnover amid mixed performance displayed by major sectors On the day most of the major sectors declined but the turnover crossed Tk 80 billion-mark after two sessions on Dhaka Stock Exchange (DSE) mainly because of investors increased participation in the banking sector According to a market review of International Leasing Securities positive momentum in some big-cap stocks especially from bank food and engineering sectors helped the bourse to close in green The market started the session with a positive note and the DSE broad index DSEX witnessed little ups and downs before closing higher According to AT Capital Partners the market remained sideways till the midsession The DSEX rose again in the second half of the session and closed at 61936 up by 345 points The shariah based index DSES and blue chip index DS30 also rose marginally The turnover stood at above Tk 870 billion which was 1370 per cent higher than the turnover of the previous session The confident drive was initiated by the investors buying spree riding on the news of doubling net foreign investment in stocks year-on-year in the first ten months of 2017 said the International Leasing SecuritiesAmong the gaining sectors bank advanced 08 per cent and engineering 03 per cent Of the losing sectors pharmaceuticals amp chemicals declined 11 per cent telecommunication 05 per cent and textiles 09 per cent The banking sector grabbed 384 per cent of the market turnover at the premier bourse DSECity Bank topped the turnover chart with a value of Tk 553 million followed by Dhaka Bank LankaBangla Finance BRAC Bank and Keya CosmeticsReckitt Benckiser (Bd) limited topped the gainers chart with a rise of 624 per cent to close at Tk 18456 while Quasem Drycells was the worst loser after declining 1235 per cent to close at Tk 8230 Source httptodaythefinancialexpresscombdstock-corporateforeign-investment-hike-info-drives-moderate-gains-on-dse-1510245365date=10-11-2017

Daily News Flash 12th November 2017

35

MORE JAPANESE COMPANIES SEEK TO INVEST IN BANGLADESH Japanese Ambassador to Bangladesh Hiroyasu Izumi has said the Japanese investors are keen to invest in Bangladesh considering the lucrative offer and ideal atmosphere for foreign investment reports BSS The Japanese investors expressed more interest to invest in Bangladesh at recently-held the third round of Public-Private Economic Dialogue between Bangladesh and Japan he said while visiting the Chittagong Export Processing Zone (CEPZ) on Thursday The envoy expressed the hopes that Japanese investment in the Export Processing Zones (EPZs) will increase after the successful dialogue said a press release More and more Japanese companies will come to invest in this country he added General Manager of CEPZ Khorshid Alam maed a PowerPoint presentation highlighting the overall scenario of EPZ as well as Bangladesh Export Processing Zone Authority (BEPZA) Mentioning Bangladesh EPZs as the Bonanza for Investors he said investors from 38 countries have set up industries in the EPZs and invested US $442 billion He informed the ambassador that BEPZA has ensured three layer security system including 24-hour CCTV surveillance in the key points of EPZ and factory premises for the safety of the investors Source httptodaythefinancialexpresscombdtrade-marketmore-japanese-companies-seek-to-invest-in-bangladesh-1510250285date=10-11-2017

Source httpwwwarthosuchakcomarchives388209

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Source httpwwwarthosuchakcomarchives388257

Daily News Flash 12th November 2017

36

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Source httpwwwarthosuchakcomarchives388125

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Source httpwwwarthosuchakcomarchives388085

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Daily News Flash 12th November 2017

37

Source httpwwwarthosuchakcomarchives387762

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Source httpwwwarthosuchakcomarchives388276

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Daily News Flash 12th November 2017

38

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Source httpwwwarthosuchakcomarchives387849

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Daily News Flash 12th November 2017

39

(১০ ) ৫ ৭৬৩

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Source httpwwwprothom-alocomeconomyarticle1362971

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Source httpwwwkalerkanthocomprint-editionindustry-business20171112564382

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Daily News Flash 12th November 2017

40

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Source httpwwwkalerkanthocomprint-editionindustry-business20171112564383

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Source httpwwwkalerkanthocomprint-editionindustry-business20171112564384

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Daily News Flash 12th November 2017

41

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564388

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Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17112200 - - - -

ও ৫০

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Daily News Flash 12th November 2017

42

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Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111811 - - - -

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Daily News Flash 12th November 2017

43

৬ ২০ ও ১৬

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Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111810 - - - - -

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Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111808 - - - - -

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Daily News Flash 12th November 2017

44

২০১৪ ২০১৬

৩২ ৩৫ ও ৫০ ১৯

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Source httpbonikbartanetbanglanews2017-11-12137992 - - -- -

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Daily News Flash 12th November 2017

45

৩০০ ৬০০

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Source httpbonikbartanetbanglanews2017-11-12137966৫০০- - - - -ও -

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Daily News Flash 12th November 2017

46

- ও

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Source httpbonikbartanetbanglanews2017-11-11137853 - - - - - -৬৩---

( ) ও

১০

ও ও ও

-

ও ও

ও ঋ ও

ও ২০১৪ ও

ও ও

২০১৩

( ) ও

Daily News Flash 12th November 2017

47

২০১৪

২০১৪-১৬ ও

২০১৪

ও ২০১৪

২০১৫ ২৭ lsquo ও rsquo

ও ও

২০১৬ ২৪

( )

ও ও

- ও

ও ও ১৯৮৩ ২০১৬

ঋ ( ) ৫৬০

৮৬৪

২০১৬ ২০১৯ ও

ও ১৫ ২৫ ৩০ ও ৩০

ও ঋ ও

২০১৬ ঋ ১

৩৪২ ঋ ৬ ৫২ ১২৩

ঋ ২ ৪৪৩ ঋ ১০

৮৪ ঋ ৪০

৭২৬

ও ২০১৬ ৭৪১

৪৫৭

২০৭ ২৪৪

১০ ও

ও ও ও ও ও

Daily News Flash 12th November 2017

48

Source httpbonikbartanetbanglanews2017-11-12137998 - - - - - ও- -

( )

৩০ ২০১৭ ২০

( ) ২ ১ ১ ৫৯ (

) ৩০ ( ) ১৫ ৩৭

ও ২৮ ১১

( ) ২৮

২০১৬ ৩০ ১৮ ২০

২০১৪ ও ২০

১৫ ৩০

১৮ ৮০ ও ৯ ৬০

Source httpbonikbartanetbanglanews2017-11-11137850 - - - -

ফ ৭ ২০১৭-১৮ ৭ ৩ ৭৪

( ) ও

( - ) ১ ১৫০ ৫৮

(২০১৬-১৭) ১ ৭৫ ৩ ৬০ ৭

৩ ১ ১৫৯ ২০ ৭৪

ও mdash

৬ ৬৫ ১৭ ৬৩

mdash ও ও

১৫ ৪১ ২২ ৬৯ ১০

১৯ ৬৬ ১০ ২০ ২২

mdash ও ও ও

৩৯ ৫১ ও ২ ও

১৬ ৪৬ ও ও ৬ ৯৯ ও

৩ ৮৫ ৯ ৯৫

১৯ ৮২

৮০

ও ( )

mdash

Daily News Flash 12th November 2017

49

ও ও

Source httpbonikbartanetbanglanews2017-11-10137755 - - - -৭- - --

ফ - ফ ও -ও

-ও

-ও

২৯-১০-২০১১ ৩ ( ) ২৮-১০-২০১৪

৩ ( ) ২৮-১১-২০১৬

২৮-১০-২০১৭ ৩ ( )

২০১৬-১৫৮১৩৪ ৪৪ ০৭-০৮-

২০১২ ১২(৬) ২ ( ) ৬ ( )

-ও - ও ২ ( )

৬ ( ) ও ও

-ও ৩ ( )

-

ও ও

১৯৯৪

২ ২২-০৫-২০১২ -ও ৩

- -

১৯৯৪

-ও

- ও

( )

১৯৯৪

১৯৯৪ -ও

Source httpwwwsharenews24comindexphppage=detailsampnc=1ampnews_id=6587

Daily News Flash 12th November 2017

50

ফ ফ

১৫ ও

-( ) ও

৪৯

১৬ ৮৫

৫১ ৪৯

৪ ৩৬

১৯১৩

১০০ ও ১৯০১ ১৯৬০

Source httpswwwdailystockbangladeshcom - - - -

- ( -১)

( ) ৮

৩০০ ও

( ) ১৬

- ২২৮ ৪৯ ১৮৩ ২০১৮

( ) ও

১৫০

( ) ও ৪০ ৩০

ও ও

ও ও

Source httpswwwdailystockbangladeshcom - - -

Page 7: Daily News Flash, 12th November, 2017 -  · PDF filebanglalink's revenue falls 4.57pc in q3 ... banks lack remedial strategy while npl rises worryingly

Daily News Flash 12th November 2017

7

Source httpwwwthedailystarnetbusinessnbr-plans-lower-flat-registration-cost-1489987

SOCIAL BUSINESS IS OUR FUTURE Les Canaux a historic building in Paris has officially begun its journey as Social Business House in order to promote social business and the social economy in the French capital Mayor Ann Hidalgo and Nobel Laureate Prof Muhammad Yunus together launched the social business house on Thursday Yunus Centre in Dhaka said in a statement yesterday Last year the mayor announced that the historic building will be dedicated to become the home of social business and the social economy for Paris Built in 1882 the building served as the administrative office of the Canals of Paris It is located on the 19th district of Paris which is a very vibrant neighbourhood attractive to young people Nicolas Hulot deputy prime minister of France and environment minister attended the launching ceremony as the chief guest A group of dignitaries was given a guided tour of the facilities of the social business house The house has been refurbished where all its decor carpets furniture and fittings are made from recycled materials notably ocean plastic waste paper and waste wood Yunus Centre Paris also located in the same building was also opened Yunus Centre Paris is now a registered legal entity in the city Speaking on the occasion Mayor Hidalgo said she is committed to social business and she wants to make Paris as the social business capital of the world and turn Paris as the social business city The mayor emphasised that social business is the future of the world ldquoIt is the future of humanity and it is the future of the planetrdquo She said that the present system is not sustainable Hulot highlighted that social business and the work that Les Canaux has set for itself is the most powerful way to move forward Prof Yunus said social business is like a bug a friendly bug that infects everyone who comes into contact with it because selflessness exists in every individual Source httpwwwthedailystarnetbusinesssocial-business-our-future-1489984

BANGLALINKS REVENUE FALLS 457PC IN Q3 Banglalinks revenue in the third quarter of the year declined 457 percent to Tk 1170 crore -- the lowest in nine quarters -- due to stiff competition and the growing tendency among subscribers to use multiple connections But it was not disclosed if the operator made any profit during the quarter in the financial report released by its parent company Veon on Thursday Banglalinks data revenue rose 28 percent to Tk 170 crore in the third quarter of the year on the back of acceleration of active data customer growth of 171 percent year-on-year Customer per data usage more than doubled to 523 megabytes a month Fuelled by aggressive customer acquisition campaigns Bangla-links subscriber base widened 84 percent year-on-year in the quarter taking the total tally to 314 crore and reversing the negative trend of the previous quarter Banglalinks gross income decreased and customer base shrank meaning its average revenue per user declined 86 percent year-on-year to Tk 121 The operator lost 38 lakh connections during last years SIM re-verification process As a result its earnings dropped said a senior official of the operator The report also said Banglalink is exploring alternatives to improve its capital structure ahead of 4G spectrum auction likely to take place in the first half next year as the operator would have to spend heavily to buy spectrum and roll out 4G service

Daily News Flash 12th November 2017

8

Veon a multinational telecom company headquartered in Amsterdam said it is evaluating all options to improve Banglalinks capital structures ldquoThe proceeds from any such activity may be used for refinancing of existing debt and general corporate purposes (including capital expenditures)rdquo said the financial statement without giving any specifics Jean-Yves Charlier chief executive officer of Veon had told reporters in Dhaka in July that Banglalink is ready to sell all of its 9000 towers to third parties in order to pool resources to invest to improve network quality The intention was made clear after Bangladesh Telecommunication Regulatory Commission decided to award three licences to manage mobile towers and separate telecom business from operators network infrastructure Banglalink is keen to invest $1 billion over the next three years to improve its service quality as well as support the governments Digital Bangladesh vision Since inception the countrys third largest mobile operator by subscriber base has invested over $251 billion in Bangladesh and contributed $24 billion to the national exchequer The operators 3G coverage reached 70 percent population Source httpwwwthedailystarnetbusinessbanglalinks-revenue-falls-457pc-q3-1489996

FORTY LOCAL COMPANIES TO ATTEND TEXWORLD PARIS Forty Bangladeshi textile and garment companies will participate at Texworld Paris on February 11-14 next year Noman Group has been chosen as an elite exhibitor and given space in the premium area of the show said a statement from Messe Frankfurt the organising company Companies from other countries such as India Pakistan China Myanmar Nepal and Cambodia will also take part ldquoWith such a wide range of countries the show is the most important event for sourcing apparel items Buyers come to the show expecting a wide variety of prices and qualityrdquo the statement said Texworld Paris hosts more than 1000 exhibitors and offers a rich variety of products to professional buyers from all over the world It is particularly the best place to meet buyers from all over Europe including the UK the Netherlands Germany and Turkey The Export Promotion Bureau (EPB) of Bangladesh will take part in the show with a limited number of booths The EPB is providing discounts with a garment booth costing Tk 300000 and a fabric booth Tk 475000 French designer Eymeric Francois along with Texworld consultants Louis Gerin and Gregory Lamaud will organise a Bangladesh Fashion Show in Paris during the event Gerin and Lamaud have been working with Texworld for over 10 years and have been awarded the prestigious Golden Needle Award from ESMOD International Paris Apparel Sourcing Paris the number one European trade fair for worldwide apparel sourcing will also take place at the same time and location Source httpwwwthedailystarnetbusinessforty-local-companies-attend-texworld-paris-1489975

STANCHART TOP OFFICIAL IN TOWN Anna Marrs regional chief executive officer of Standard Chartered Bank for Asean and South Asia has arrived in Dhaka for an official visit During the visit she will meet with some of the banks key stakeholders regulators and clients the bank said in a statement

Daily News Flash 12th November 2017

9

Her visit comes following recent changes in the banks senior management with Naser Ezaz Bijoy being appointed as the CEO of Standard Chartered Bangladesh Bijoy replaced Abrar A Anwar who took charge of the banks operations in Malaysia ldquoAnnas visit reiterates the Groups strong commitment to drive commerce and prosperity in Bangladesh and aid the development of the nations financial sectorrdquo said Bijoy in the statement ldquoAs the oldest financial institution in the country with a heritage of over 112 years and deep local knowledge we remain firmly committed to being a partner in progress to our nationrdquo Marrs is also the CEO of Standard Chartereds commercial and private banking business globally She joined Standard Chartered as group head of strategy and corporate development in January 2012 In her role as the head of strategy Marrs led reviews of the banks businesses globally with notable projects focusing on Nigeria China and India Prior to joining Standard Chartered Marrs was a partner in McKinsey amp Companys banking practice She started her career at DE Shaw a New York-based investment firm Marrs holds an MBA from London Business School and an undergraduate degree from Northwestern University in Chicago Source httpwwwthedailystarnetbusinessstanchart-top-official-town-1489969

EXPORTS SPRING BACK

Exports bounced back in the month of October fetching $284 billion on the back of higher shipments of apparel products ldquoYes garment export is rebounding after a slowdown over the last few monthsrdquo said Siddiqur Rahman president of the Bangladesh Garment Manufacturers and Exporters Association Garment shipments which typically fetch 82 percent of the export earnings brought home $229 billion last month up 4136 percent from the previous month and 602 percent from a year earlier ldquoI hope garment shipments will only increase from here onwards as the peak season is coming uprdquo he added Octobers receipts are higher than the previous months by 399 percent and the previous years by 637 percent according to data from the Export Promotion Bureau The amount which beat the target of $268 billion set by the commerce ministry for the month takes the tally so far in the fiscal year to $1151 billion In the first four months of fiscal 2017-18 leather and leather goods shipment the second largest export earning sector after garment declined slightly It raked in $42844 million down 002 percent from a year earlier But jute and jute goods the next big export earner saw its receipts soar 1646 percent to $34501 million during the period The sectors prospects on the global stage brightened after the long-delayed diversification of the product range and the higher demand for Bangladeshi made jute yarn for carpets and rug manufacturing in Turkey and some Middle-eastern destinations according to industry people Moreover jute exports to Japan and Russia are increasing due to higher demand of natural fibre-

Daily News Flash 12th November 2017

10

made products there exporters said Home textile exports increased 2037 percent year-on-year to $26079 million while the shipment of agricultural products like vegetable fruits spices cut flowers grew 2022 percent to $20321 million Frozen fish live fish and shrimp export increased 1541 percent to $22691 million which is 3721 percent higher than the target for the period Shrimp exporters said they have been receiving better prices from buyers as the demand for the black tiger variety of shrimp increased in the western world Last year shrimp exporters received $550 to $650 for a pound of shrimp but this year they are receiving between $750 and $8 according to exporters Pharmaceuticals exports grew 1731 percent year-on-year to $3219 million and furniture exports 1881 percent to $1415 million Source httpwwwthedailystarnetbusinessexports-spring-back-1489108

EXPORTERS SEEK LONG-TERM TAX ENERGY POLICIES Exporters yesterday demanded long-term and stable tax and energy polices such that they can make their future investment plans accordingly ldquoWe need a long-term roadmap from the government on taxes and energy prices and supplyrdquo said Fazlul Hoque former president of Bangladesh Knitwear Manufacturers and Exporters Association Every year before the budget the National Board of Revenue increases the source tax on export receipts only to bring it down later following requests from businessmen or under political pressure he said For instance the government has been importing liquefied petroleum gas for supplying to the industrial units But it is not clear yet how and when the gas would be supplied to the industrial units he said ldquoHowever it is very simple to fix the rate for the long term so that the businessmen can predict their expenditure and plan for futurerdquo Hoque said at a roundtable on the export potential of Bangladesh Bangla daily the Prothom Alo and banking giant HSBC jointly organised the discussion at the newspapers office in Dhaka where a minister exporters bankers manufacturers and entrepreneurs spoke Siddiqur Rahman president of Bangladesh Garment Manufacturers and Exporters Association echoed Hoques views He also complained about the poor state of the premier Chittagong port and airport in Dhaka Not only the sea port and airport the poor state of the Dhaka-Ashulia highway is also responsible for the bad transportation system The truckers demand higher fares because of the rundown roads between Dhaka and Ashulia-Savar he said Subsequently he called for the highways to be expanded into six lanes as hundreds of garment factories are located on both sides of the road David Hasanat chairman and chief executive officer of Viyellatex Group a leading garment exporter said the garment sectors success stories should be spoken of more ldquoWe should also continue with the PR initiative to carve out a positive picture of the countrys successful garment sectorrdquo he added The exporters of Bangladesh are responsible for not only driving economic growth but also for establishing the Bangladesh brand across the world said Francois De Maricourt chief executive officer of HSBC Bangladesh Muhammad Shohiduzzaman country head of global trade and receivables finance of HSBC Bangladesh said the popularity of export through open accounts system has increased worldwide due to simplicity of the process Bangladesh can also adopt it instead of the time-consuming and traditional letters of credit system he said

Daily News Flash 12th November 2017

11

Saiful Islam president of Leathergoods and Footwear Manufacturers and Exporters Association of Bangladesh (LFMEAB) said the condition of the customs department at the Chittagong port has worsened Customs officials take a lot of time to scrutinise the imported goods meant for manufacturing in the factories Islam said adding that the Chittagong port should have a contingency plan to avoid any kind of sudden deterioration in the system Abu Taher former chairman of the LFMEAB said the global market size of leather goods is $240 billion and in a few years time China will be importing another $100 billion worth of leather and leather goods and footwear ldquoSo we have a lot of opportunity to export leather goods worldwide We need export diversificationrdquo Taher said The demand for diversified jute goods like yarn has been increasing worldwide so the scope for jute and jute goods exports is also rising worldwide said Mahmudul Haque managing director of Sadat Jute Industries Limited ldquoWe need the governments support to make the best of this global opportunityrdquo he added MA Mannan state minister for finance and planning said sometimes the governments activities are stopped through filing writ petitions in the court ldquoThis is one of the major reasons for the slow progress of the governments development projectsrdquo he added Abdul Qayyum associate editor of the Prothom Alo moderated the roundtable Source httpwwwthedailystarnetbusinessexporters-seek-long-term-tax-energy-policies-1489123

DOLLAR SUDDENLY BECOMES DEARER

A frequent traveller who often buys foreign currency from an international bank in Dhaka was charged about Tk 86 for a US dollar on Wednesday Just a month ago he bought a dollar for Tk 83 This sudden rise in dollar price might not make much of a difference to individuals who purchase foreign currency in small amounts and infrequently but for importers who have to settle huge bills it is a major blow For instance if the price of a dollar goes up by even Tk 1 the importer has to bear an additional cost of Tk 10 lakh for $1 million Presently the bills for collection sell rate (at which import payments are made) of a dollar hovers around the Tk 83-mark and the rate goes up further for foreign banks that dominate the currency market The situation has forced the Bangladesh Bank to intervene sitting down with the banks and treasury officials twice in the last two weeks other than selling greenbacks Bankers blamed the depreciation of the local currency on the mismatch between demand and supply of the dollar

Daily News Flash 12th November 2017

12

Remittance and exports the two major sources of foreign currency for Bangladesh are in the slow lane while imports have ballooned Yesterday the inter-bank exchange rate of the US dollar stood at Tk 8095 up from Tk 7849 a year earlier The central bank has already sold $126 million to banks this month to halt the depreciating trend of the taka according to a Bangladesh Bank official ldquoBut it is not yielding the desired result as the demand for the US dollar continues to riserdquo From July 1 to November 9 the central bank has sold $440 million to banks In contrast it sold $175 million and purchased $193 billion during the course of fiscal 2016-17 Some banks are now trading the US dollar with each other bypassing the inter-bank exchange rate set by the central bank meaning that they completed the transaction beyond the rate the BB official said The central bank has put a cap on the US dollar at inter-bank exchange rate plus Tk 2 on April 27 in a meeting with the Association of Bankers Bangladesh with a view to keeping the market stable Besides on Monday it warned a number of banks for such unethical practice and asked them to strictly follow the inter-bank rate to settle foreign exchange transactions among them ldquoSome banks had secretly struck up deals between themselvesrdquo said Md Arfan Ali managing director of Bank Asia adding that the banks were forced to settle transactions at the higher rate because of the scarcity of the US dollar Banks usually do not get greenbacks from the central bank which compelled them to settle the deal avoiding the inter-bank rate said Syed Mahbubur Rahman managing director of Dhaka Bank Subsequently he urged the government to take initiatives to increase export earnings and remittances to ensure steady supply of the US dollar ldquoThe current account balance posted a huge deficit in the first quarter of the fiscal year This reflects the existing foreign currency shortagerdquo he added Between the months of July and September the current account deficit stood at $179 billion in contrast to $539 million in the surplus a year earlier according to data from the central bank During the period the trade deficit widened to $365 billion from $156 billion a year earlier Source httpwwwthedailystarnetbusinessdollar-suddenly-becomes-dearer-1489096

POLICY SUPPORT NEEDED TO DIVERSIFY EXPORTS ANALYSTS The government should extend its policy support beyond the garment sector in order to diversify exports said experts yesterday ldquoWe will have to give importance to various promising sectors which are apparently not visible like the garment sector to diversify exportsrdquo said Prof Wahiduddin Mahmud an eminent economist He said the government would have to provide subsidies to small sectors mostly manufacturing industries to carry on the existing export growth momentum He was speaking at the Bangladesh Enterprise Institutes stakeholder consultation workshop on ldquoExport Diversification Challenges and Prioritiesrdquo IFIC Bank organised the programme at its headquarters in Dhaka Commerce Minister Tofail Ahmed said Bangladesh would be able to reach its export target of $60 billion by 2021 Prof Mahmud said the manufacturing sector should be focused to make the countrys growth export-led Otherwise it would not be possible to maintain the current share of exports to the GDP after two or three years Salman F Rahman vice-chairman of Beximco Group who chaired the workshop said the government will have to extend the bonded warehouse facilities to all sectors and give cash incentives to small sectors

Daily News Flash 12th November 2017

13

He said the government is cutting various policy supports including cash incentive for the garment sector ldquoBut it is not the right time to discontinue the incentivesrdquo The businessman urged the government to continue its support so that the garment sector can maintain its growth momentum Mustafizur Rahman a distinguished fellow of the Centre for Policy Dialogue said intra-garment diversification needs to continue to boost exports He said the exchange rate should be kept at the level that helps exporters The economist said pharmaceutical leather and light engineering sectors have huge opportunities to contribute to exports if they receive supports Allah Malik Kazemi change management adviser to the Bangladesh Bank said the global slowdown has affected the exporters He said the central bank keeps the interest of exporters in mind while managing the foreign exchange market Md Nojibur Rahman chairman of the National Board of Revenue said there is political commitment from the government to stand by exporters He emphasised export diversification saying the NBR also has a role to play by way of supporting small sectors Kazi M Aminul Islam executive chairman of the Bangladesh Investment Development Authority said the government would have to put more emphasis on agriculture and manufacturing sectors to diversify exports He said the garment sector grew fast riding on the policy support provided by the government in areas such as bonded warehouse exchange rate and incentives ldquoOther promising sectors should be provided the same policy support so that they can growrdquo he said Mohammad A Razzaque project leader of the BEI said it is stated that the non-garment exports will not grow because of the policy support provided to the garment sector He disagreed with the argument saying promoting export diversification and maintaining the garment sector dynamism must go hand in hand BEI President Farooq Sobhan also spoke Source httpwwwthedailystarnetbusinesspolicy-support-needed-diversify-exports-analysts-1489081

DIGITAL HUNDI SHRINKS REMITTANCE FLOW THROUGH BANKS BIBM Hundi traders have been fast transferring remittance to relatives of expatriate Bangladeshis through mobile services which have resulted in a fall in the amount of money sent through banking channels This was reflected in a research report by the Bangladesh Institute of Bank Management (BIBM) The report titled ldquoIncreasing flow of remittance through banking channel Bangladesh contextrdquo was placed at a seminar at the BIBM auditorium yesterday A six-member team led by BIBM Director Shah Md Ahsan Habib prepared the report According to the report remittance flow decreased in recent times all over the world but the fall in Bangladesh was more as it accounted for a considerably high amount of remittance generated in total The report identified several reasons for which remittance was plunging including bank branches being distant from the houses of remitters relatives The report also mentioned a lack of good behaviour on the part of bankers requirement of various documents and weekly holidays as causes BIBM Supernumerary Professor Yasin Ali said the scope of mobile banking has much increased in the last five year but banks have failed to utilise the channel He said banks have to provide remitters the opportunities which were offered by unofficial channels otherwise inflow of remittance through the banking channel would plummet

Daily News Flash 12th November 2017

14

Another BIBM Supernumerary Professor Helal Ahmed Chowdhury said the cost of sending remittance through banking channels was higher the effect of which was falling on remittance inflow Chowdhury said an initiative has to be taken to slash the cost of transferring remittance to increase the inflow through banking channels SK Sur Chowdhury deputy governor of Bangladesh Bank said remittance flow to Bangladesh declined by 1110 percent in 2016 due to lower oil prices and fiscal policy tightening in the Gulf Cooperation Council countries It is hoped that awareness programmes would encourage non-resident Bangladeshis to come forward to know the importance of channeling their money through banks he said Chowdhury also said to ease the flow in the formal channel Bangladesh Bank has reduced the security deposit requirement for exchange houses abroad to establish drawing arrangements with local banks In addition to their own bank branches and ATM booths banks are now using the branch networks of microfinance institutions and post offices as sub agents for remittance distribution Remittances are also distributed through agent banking such as that provided through Singer Bangladesh Limited outlets he said Furthermore Bangladesh Bank has established a separate ldquoFinancial Integrity and Customer Interest Protection Departmentrdquo to handle complaints and suggestions of customers or stakeholders at home and abroad to ensure smooth and hassle free services The ldquo16236rdquo hotline is to address customers hassles if any He said at the moment no bank can take more than two days in reaching remittance to designated beneficiaries Source httpwwwthedailystarnetbusinessdigital-hundi-shrinks-remittance-flow-through-banks-bibm-1489075

JOINT VENTURE TO PRODUCE 600MW IN MATARBARI

A joint venture between Japans Mitsui amp Co and a state-run Bangladeshi company is going to set up a liquefied natural gas-based power plant at Matarbari in Maheshkhali upazila to produce 600 megawatts of electricity Coal Power Generation Company Bangladesh Ltd yesterday signed a primary agreement with Mitsui amp Co to this effect in Dhaka on Wednesday according to a statement of the power and energy ministry The companies will have 50-50 ownership in the joint venture that will complete the project by 2021 The government has taken initiatives to import a huge amount of LNG from next year Both land-based and floating LNG terminals will be set up The government has approved two floating LNG terminals each of which will supply 500 million cubic feet of gas per day In July state-run Petrobangla and US-based Excelerate Energy signed the final deals to set up Bangladeshs first LNG terminal in Maheshkhali which will supply gas to the national grid from early 2018 The government also awarded Summit Group the work to set up the countrys first floating LNG terminal also in Maheshkhali This one is due for commissioning by next October Source httpwwwthedailystarnetbusinessjoint-venture-produce-600mw-matarbari-1489069

Daily News Flash 12th November 2017

15

EXPORTS TO EU STATES BUT GERMANY POST ENCOURAGING GROWTH

Bangladeshrsquos export earnings from European countries except Germany registered a significant growth in the July-October period of this financial year 2017-18 riding on an excellent performance of readymade garment products According to the Export Promotion Bureau data exports to major European countries registered double digit growth in the four months of FY18 while the RMG export to Germany fell in the period compared with that in the same period of last fiscal year The EPB data showed that Bangladesh suffered a negative export growth in two promising markets mdash Japan and China mdash in the July-October period of FY18 Exporters said that earnings growth in the EU markets increased in recent months as the euro appreciated against the dollar They also said that buyers and brands cut import orders from Bangladesh for their Chinese stores that caused the negative growth Export earnings from the UK the second largest export destination for Bangladesh in the EU grew by 2084 per cent to $134 billion in the four months of FY18 from $111 billion in the same period of FY17 Earnings from apparel products fetched $125 billion with 2227 per cent growth in the period Export earnings from Spain in July-October in FY18 grew by 2581 per cent to $80102 million from $63670 million in the same period of FY17 Export earnings from the Netherlands rose by 3416 per cent to $40108 million in the four months of FY18 Bangladesh earned $58097 million from France with 270 per cent growth and $46374 million from Italy with 1206 per cent growth Exports to Germany the second largest export destination for Bangladesh in the July-October period of FY18 stood at $186 billion the same amount earned in the July-October period of FY17 Anwar-ul-Alam Chowdhury Parvez former president of the Bangladesh Garment Manufacturers and Exporters Association said exports depend on season and the earnings from Germany would increase from November RMG export earnings fell by 039 per cent to $173 billion from $174 billion in the market data showed lsquoWe have to wait to identify the reasons for the stagnancy of growth in the German market Hopefully the export would rebound in the market in the coming monthsrsquo Md Fazlul Haqe former president of the Bangladesh Knitwear Manufacturers and Exporters Association told New Age on Saturday

Daily News Flash 12th November 2017

16

Export earnings from the US the largest destination for Bangladeshrsquos exports in the July-October period of FY18 grew by 228 per cent to $187 billion from $183 billion in the same period of FY17 Apparel export to the market grew by 244 per cent to $168 billion from $164 billion The EPB data showed that the countryrsquos export earnings from Japan in the July-October period of FY18 fell by 394 per cent to $33390 million from $34760 million in the same period of FY17 Export earnings from China in the four months of the FY18 decreased by 2242 per cent to $22475 million from $28971 million in the corresponding period of last fiscal year Parvez said that the domestic consumption in China slightly decreased in recent times and global retailers also cut import orders from Bangladesh for their Chinese stores due to congestions in the Chittagong port lsquoWe are losing many orders from global brands as we have been failing to meet lead time due to the problem in the portrsquo he said Source httpwwwnewagebdnetarticle28200exports-to-eu-states-but-germany-post-encouraging-growth

REHAB LEADERS DEMAND CUT IN TAXES Realtors on Saturday urged the government to cut tax rates at different levels of the housing sector to give a much-needed boost to the sector They also requested the government not to raise question over the source of the minimum paid up capital (Tk 1 crore) a real estate company requires to be a member of the Real Estate and Housing Association of Bangladesh REHAB leaders made the requests at a joint meeting with the National Board of Revenue held in a city hotel on the day NBR chairman Nojibur Rahman attended the meeting as chief guest while REHAB president Alamgir Shamsul Alamin senior vice-president Nurun Nabi Chowdhury Shaon and vice-president Liakat Ali Bhuiyan were also present among others Alamgir said that the REHAB made it mandatory for its member companies to have Tk 1 crore paid up capital and he requested the government not raise question over that money The government earlier made it mandatory for all developer companies to be REHAB members Alamgir also urged the government to form a re-financing fund worth Tk 20000 crore under Bangladesh Bank to provide low-interest and long-term loans to the potential apartment buyers He demanded apartment registration fee to be reduced to 65 per cent from the existing 155 per cent mentioning that other SAARC countries maintained it at 4-7 per cent Alamgir said that the government was losing huge revenue due to the high apartment registration fee as buyers were showing unwillingness to register their apartments at high cost Nurun Nabi urged the government to meet the REHABrsquos longstanding demands to save the housing sector from ruination He also called for reducing corporate tax of non-public traded companies to 20 per cent from the existing 35 per cent He sought a cut in the tax on signing money to 75 per cent from the existing 15 per cent Alamgir also appealed for reducing tax rate on apartment resale to 3 per cent He also sought total 15 per cent tax and VAT on professional services like engineering and architecture from the current 27 per cent Nojibur said that an NBR-REHAB joint working group would be formed to work together for the betterment of the housing sector He also requested REHAB leaders to provide opinions on the income tax law that would be amended soon He assured them that the NBR would consider their demands Source httpwwwnewagebdnetarticle28201rehab-leaders-demand-cut-in-taxes

Daily News Flash 12th November 2017

17

BrsquoDESH BHUTAN START TRADE DATA SHARING IN JAN Bangladesh and Bhutan have decided to start exchanging export-import data from January 1 to verify trade documents to check duty evasion and other customs-related offences through misdeclarations of goods and prices during trades between the two countries The data will be mailed in the first week of the subsequent month according to the decision taken at the 3rd Bangladesh-Bhutan joint group of customs meeting held in November 7-8 in Thimphu the capital of the Himalayan kingdom Initially both sides will exchange export data of three commodities and gradually the scope will be expanded to all the export items Delegations from the both sides also agreed to boost the existing trade volume between the two countries and improve infrastructure at land customs stations of Bangladesh and Bhutan to facilitate border trade Bhutan informed the meeting that they were establishing a mini dry port at Phuentsholing which would boost border trade between the countries National Board of Revenue member (customs audit modernisation and international trade) Khondaker Muhammad Aminur Rahman and Bhutanrsquos Department of Revenue and Customs director Yonten Namgyel led the respective delegations at the meeting Following a request from Bangladesh Bhutan agreed to put necessary information including country of origin name and address business identification number and tax identification number of importer on the export packages as per the current Import Policy Order of Bangladesh Both sides also agreed to hold ground-level customs meetings twice a year alternately at Phuentsholing of Bhutan and Burimari of Bangladesh to resolve customs-related problems smoothly The two countries also decided to raise the issue of improving the infrastructure at Changrabandha (Indian LCS opposite to Burimari of Bangladesh) and Jaigaon (Indian LCS opposite to Bhutanrsquos Phuentsholing) to ensure smooth border trade between the countries Bangladesh also requested the landlocked kingdom to use Nakugaon-Dalu-Gelephu route for their imports and exports as Bangladesh has decided to upgrade Nakugaon LCS as a trade hub for border trade with India and Bhutan Bangladesh side also underscored the potentials of use of riverine routes as mode of transport for export and import of goods Bhutan may also get duty-free market access for limestone powder export to Bangladesh according to the decision of the meeting Mohammad Ehteshamul Hoque NBR first secretary of customs modernisation and international trade on Saturday told New Age that both countries had resolved some small-scale problems to facilitate bilateral trade and committed to further enhancing border trade The planned ground-level meeting of customs officials will also play a role in identifying and resolving bottlenecks in trade between the two nations he said According to the NBR data Bangladesh exported products worth $322 million to Bhutan in the fiscal year 2016-2017 while it imported from the country products worth $3315 million Bangladeshrsquos highest export earnings from the country were $913 million posted in the FY 2011-2012 and the earnings have been declining with fluctuations over the years Bangladeshrsquos major export items to Bhutan are bakery items fruit and vegetable juices tableware kitchenware and toiletry articles of plastics non-alcoholic beverages menrsquos singlets briefs pyjamas medicament mixtures rice aluminium structure and few garment items On the other hand the country imports mainly citrus fruits stone granite dolomite limestone ferro-alloys apple and gypsum from Bhutan Source httpwwwnewagebdnetarticle28202bdesh-bhutan-start-trade-data-sharing-in-jan

Daily News Flash 12th November 2017

18

TAX FAIRS AT ALL ZONES BEGIN TODAY Income tax fair begins today at all income tax zones across the country to provide taxpayers with services in a similar hassle-free atmosphere they got at recently-concluded countrywide weeklong tax fair National Board of Revenue chairman Md Nojibur Rahman on Saturday in a statement said that the decentralised fair at the zones with similar facilities like the weeklong national tax fair would continue till November 30 the last day of income tax returns submission Tax officials will also start issuing income tax ID cards from November 20 to the taxpayers under each tax zone in Dhaka Issuance of ID cards will continue till November 28 There are 31 income tax zones across the country including 15 in Dhaka and four in Chittagong Officials of the revenue board said that the NBR took the decision so that all taxpayers could file their tax returns without any hassle with maximum support from tax officials Initially the NBR planned to issue ID card from November 9 which was deferred due to lack of preparation Source httpwwwnewagebdnetarticle28203tax-fairs-at-all-zones-begin-today

BTRC LIKELY TO LOSE RIGHTS OVER UNUSED BALANCE IN BLOCKED SIMS Mobile phone operators are likely to get relief from paying the government the unused balance in the SIM cards that would be blocked by the telecom regulator for various reasons especially for illegal voice-over internet protocol calls Mobile operators however will have to return the unused balance to its owner if claimed said officials of Bangladesh Telecommunication Regulatory Commission They said that a proposed amendment to the 4G licencing guidelines that would be passed by the telecom regulator in the upcoming commission meeting following instruction from prime ministerrsquos ICT advisor and posts and telecommunication ministry The instruction was made based on a meeting between the mobile phone operators and the government high officials on the proposed 4G licencing guidelines they said As per the BTRC approved draft 4G licencing guidelines that would be revised it was mandatory for all the operators to pay the BTRC the remaining balance amount of the identified illegal prepaid VoIP callers and unsuccessful or fake SIM registration of service connection fund at the time of deactivating them It was also mentioned in the guidelines drafted earlier that there would not be any rights of the mobile network operators over the forfeited account balance of the illegal VoIP callers Whereas it was also mandatory for the operators to pay the remaining balance of such SIM cards within ten days of the following month In case of deactivation of SIM cards for illegal VoIP calls mobile operators would keep the remaining balance while operators would have to pay the balance to its owner if claimed for deactivation of SIM cards for any other reason Such specification about the unused balance would help the operators while the government would lose its rights over the forfeited fund BTRC officials said Such initiative might foil another BTRC move to take stand against the mobile phone operators for non-payment of unused balance in the SIM cards which were blocked by the telecom regulator for various reasons Countryrsquos leading mobile phone operator Grameenphone in February this year deposited Tk 733 crore to the telecom regulator against the unused balance in the connections that were blocked between 2008 and 2014

Daily News Flash 12th November 2017

19

While other operatorsmdash Banglalink Robi Airtel Citycell and Teletalk mdash were yet to pay any fund to the commission in this regard Airtel formerly known as Warid Telecom has already merged with Robi in November 2016 Apart from the unused balance issued the government acknowledged almost all the issues raised by the mobile phone operators about the 4G licencing guidelines BTRC officials said Source httpwwwnewagebdnetarticle28107btrc-likely-to-lose-rights-over-unused-balance-in-blocked-sims

BONDED WAREHOUSE BACK-TO-BACK LC SHOULD BE OPEN TO ALL EXPORTERS Bonded warehouse facility and back-to-back letter of credit facility should be open for all for the export of all sorts of goods to diversify export products said experts and businesses at a workshop on Thursday They came up with the observation while speaking at a stakeholdersrsquo consultation workshop on lsquoExport Diversification Challenges and Prioritiesrsquo organised by Bangladesh Enterprise Institute at IFIC Tower in Dhaka Commonwealth Secretariat adviser and head of international trade and regional cooperation Section Mohammad Razzaque presented a keynote paper on lsquoRevitalising Bangladeshrsquos export trade Policy issues for growth acceleration and diversificationrsquo Razzaque in his presentation said that there should be alternatives of diversifying export destinations and products to achieve $60 billion export target by the year 2021 Although the country has continued to achieve more than 6 per cent growth export to GDP ratio has declined a bit in last couple of years and to increase the ratio for sustaining economic growth there was no alternative to increasing exports he said To facilitate export diversification and ensure equal facility treatment among the exporters all the sectors should get bonded warehouse facility as well as back-to-back letter of credit facility that helped the countryrsquos readymade garment sector to grow Razzaque said Salman F Rahman private sector development advisor to prime minister also said that the bonded warehouse and back-to-back LC facilities should be opened for all to support other exporters Suggesting for the continuation of existing facility for the RMG sector Salman also president of BEI said lsquoWe need product diversification for the economic growth but not at the cost of RMG sectorrsquo Former Dhaka University economics department chairman Wahiduddin Mahmud said that the gov ernment should set a broad category and announce subsidy and cash incentives for longer period to help the sectors to contribute to exports as well as economic growth Speaking about the exchange rate issue the eminent economist also said lsquoAs balance of payment has turned negative the government should not try to control the exchange rate anymorersquo Centre for Policy Dialogue distinguished fellow Mustafizur Rahman said lsquoApart from diversification of other products intra-RMG sector product diversification is also important as we have created a strong foothold in the sector and itrsquos a one trillion dollar marketrsquo Speaking about the repeated change in policy Federation of Bangladesh Chambers of Commerce and Industry president Shafiul Islam Mohiuddin said lsquoElectricity price has been doubled with just a so-called hearing and that led our foreign partners to backtrackrsquo Speaking about the 070 per cent source tax imposed on apparel sector commerce minister Tofail Ahmed said rsquoAlthough we cannot do a lot for the sector but such tax should not remain on the sectorrsquo Source httpwwwnewagebdnetarticle28039bonded-warehouse-back-to-back-lc-should-be-open-to-all-exporters

Daily News Flash 12th November 2017

20

GOVT TO SPEND FUND FOR TOBACCO CONTROL MEASURES CAMPAIGNS The government has finally framed a policy on the use of health development surcharge it imposed on tobacco products three and half years ago The health and family welfare ministry on Wednesday issued the gazette notification of Health Development Surcharge Management Policy-2017 identifying 16 sectors for spending the fund on The fund will mainly be used for limiting the demand for and supply of tobacco products financing tobacco control activities conducting researches and campaigns and operating Tobacco Tax Cell of the National Board of Revenue The revenue board in July 2014 imposed 1 per cent surcharge on all tobacco products both locally produced and imported ones aiming to spend the fund for implementing the programmes to control and discourage the use of tobacco products and prevent tobacco-related diseases In the last three fiscal years (2014-15 2015-16 and 2016-17) the tax authority collected around Tk 900 crore as health development surcharge from tobacco products including cigarette bidi gul zarda and other smoking and chewing tobacco products But the fund remains idle as the health ministry has not got the access to the fund over the years as there was no policy on how to the money be used Officials of the revenue board said that formulation of the policy had paved the way for utilising the fund for tobacco control and prevention of tobacco-related diseases They said that every year around Tk 300 crore would be added to the fund According to the policy the collected surcharge will be used for financing national tobacco control activities operation of the NTCC under the ministry campaigns in the mass media on health hazards of tobacco products and tobacco control and providing trainings to stakeholders The fund will also be used for setting up National Quitline a hotline to help people quit tobacco consumption and providing financial and technical support to organisations for implementation of programmes to prevent tobacco-related non-communicable diseases Programmes will also be taken to create awareness among farmers against tobacco cultivation and motivate them to cultivate alternative crops according to the policy According to the policy a Health Development Surcharge Management Committee headed by the health minister will supervise the proper use of the fund The National Tobacco Control Cell will provide secretarial support to the committee Fund from other sources such as possible imposition of any surcharge on products hazardous to health in future and donations from local and foreign sources will also be added to the fund it said The expenditures from the fund will be audited in line with the methodology followed for the other government agencies it said According to the Global Adult Tobacco Survey-2009 some 413 crore people or 43 per cent of the total population of Bangladesh consume tobacco products On the other hand 430 crore people are victims of indirect smoking According to the World Health Organisationrsquos 2004 data 57000 people die every year in Bangladesh suffering from tobacco-related diseases The government has taken an initiative to make the country smoking free by 2040 Source httpwwwnewagebdnetarticle28040govt-to-spend-fund-for-tobacco-control-measures-campaigns

STUDY BLAMES MOBILE HUNDI FOR FALLING REMITTANCES THRU BANKING CHANNEL A study of Bangladesh Institute of Bank Management on Thursday blamed Hundi through mobile financial services including bKash Rocket mCash and UCash for decreasing remittance through banking channel

Daily News Flash 12th November 2017

21

The study conducted by a six-member team identified distance of bank branches delay in receiving money misconduct by bankers submission of various documents weekly holidays of banks and illegal immigrants as the reasons for increasing remittance inflow through mobile Hundi The six-member team headed by BIBM director Shah Md Ahsan Habib presented the study at the seminar presided over by BIBM director general Toufic Ahmad Choudhury held in the auditorium of the institute in the city lsquoIn Bangladesh remittances declined by an estimated 111 per cent in 2016 in the face of lower oil prices and fiscal tightening in the GCC countries Among other reasons use of Illegal channel by the expatriates is doing harm to our countryrsquo Bangladesh Bank deputy governor Shitangshu Kumar Sur Chowdhury said He said that it would not be possible to stop Hundi totally but BB is working to check the transactions through the illegal channel To ease the formal channel BB has reduced the security deposit requirement for the exchange houses abroad to make arrangements for remittances with local banks Shitangshu said The BB deputy governor hoped that Non-Resident Bangladeshis would come forward to know the importance of their money to be sent through banking channels BB former executive director Yasin Ali said that national economy was being hindered due to remittance inflow through illegal channels He suggested using mobile banking facilities for remittance inflow saying that the area of mobile banking expanded many fold in last five years Helal Ahmed Chowdhury former managing director of Pubali Bank suggested bankers to be courteous with bank customers Source httpwwwnewagebdnetarticle28041study-blames-mobile-hundi-for-falling-remittances-thru-banking-channel

POLICY SUPPORT MUST TO DIVERSIFY EXPORT BASKET Speakers on Thursday said that in order to diversify the countryrsquos export basket export-oriented businesses should be given the policy support that has proved highly successful in bringing vibrancy to the countryrsquos RMG sector They were speaking at a workshop styled ldquoExport Diversification Challenges and Prioritiesrdquo organised by Bangladesh Enterprise Institute (BEI) in the auditorium of International Finance Investment and Commerce Bank in Dhaka Dr Mohammad A Razzaque former head of International Trade Policy at Commonwealth Secretariat in London presented a keynote paper in the programme chaired by Salman F Rahman private sector development advisor to Awami League President and Prime Minister Sheikh Hasina Skill development measures may also play a vital part in this regard Salman said export diversification would be possible only when adequate and appropriate policy support is provided to all export-oriented industries Dr Razzaque in his keynote paper suggested revamping and deepening policy support such as providing cash assistance and bonded warehouse facilities to all such industries to improve their export competitiveness He also highlighted the need for further expanding Bangladeshrsquos export basket as its penetration into global export markets in the last decade was very insignificant Eminent economist Prof Wahiduddin Mahmud said ldquoIn addition to providing subsidies and cash incentives to thriving and promising sectors on a long-term basis the government should take measures to strengthen the countryrsquos manufacturing baserdquo

Daily News Flash 12th November 2017

22

Shafiul Islam Mohiuddin president of the Federation of Bangladesh Chambers of Commerce and Industry said the governmentrsquos support is a must to create a strong manufacturing base for export diversification ldquoSkill development measures may also play a vital part in this regardrdquo Addressing the event as the chief guest Commerce Minister Tofail Ahmed said export diversification depends on businessmenrsquos initiatives He however pledged all necessary support from the government for export diversification to meet the countryrsquos $60 billion export target by 2021 BEI President Farooq Sobhan emphasised engaging the private sector in relevant policy discourses to achieve the target ldquoA private sector-oriented policy mechanism is very important as rapid changes are taking place in the global trade landscape Understanding implications and generating timely policy responses to unfolding developments will be meaningful only when the private sector is able to benefit from themrdquo said Sobhan Among others Mustafizur Rahman a fellow at the Centre for Policy Dialogue Kazi M Aminul Islam executive chairman of Bangladesh Investment Development Authority Bijoy Bhattacharjee vice chairman of Bangladesh Export Promotion Bureau and Md Nojibur Rahman chairman of the National Board of Revenue also spoke Source httpwwwdhakatribunecombusinesseconomy20171109policy-support-must-diversify-export-basket

BANKS LACK REMEDIAL STRATEGY WHILE NPL RISES WORRYINGLY Some of Bangladeshs banks dont have in-depth look into the problem of spiraling non-performing loans (NPL) while many others try to frame remedial strategies perfunctorily Such observations came out from studies on banking as well as financial sector at large as the NPL surge worries many quarters One finding shows that around 11 per cent of the countrys banks did not have an in-depth look into the issue of NPLs in the past year despite a growing concern over the problem in the financial arena The recent industry-wide survey also revealed that around 30 per cent of the countrys banks had not assessed their past NPL-reduction strategies at all while 36 per cent did so only on an ad-hoc basis The findings came out from the survey of the Chief Risk Officers at the banks on issues concerning NPL strategy in their institutions Leading banking research and training institution Bangladesh Institute of Bank Management (BIBM) conducted the study The research findings come at a time when the ballooning NPLs is becoming a major issue with the countrys banking industry and also triggering concerns and criticisms As per the central bank data the volume of NPLs had increased by more than 21 per cent to Tk 62172 billion by the end of 2016 swelling from Tk 51371 billion a year before The findings are genuinely surprising as we are struggling to find a bank for which NPL is not an issue in some capacity said Sazib Azad Senior Advisor of BIBM who led the research initiative Furthermore if the bank itself is immune to the impact of NPL even then they need to consider whether they are immune from structural or market-level impacts as well he told the FE However relevant survey results show the potential lack of such considerations as only 10 per cent of bank CROs taking part in the survey said that their banks are addressing potential dependence on market assessment and strategy What is more surprising is that the NPL strategies of around 62 per cent of the banks are not signed off by the boards the survey found

Daily News Flash 12th November 2017

23

This is quite striking because given the severity of the non-performing-loan issue the NPL strategy should be signed off by the boards Mr Azad said adding Boards are not only accountable for the health of the banks but are also in position to release resources to get to grips with the issue In addition the survey result also revealed 31 per cent of the banks not communicating their NPL strategy across the bank NPL as an issue needs to be addressed from ground up But the results show that this is not happening at our banks said an expert who was involved with research Meanwhile 25 per cent of the CROs said they were not tracking the implementation and effectiveness of NPL strategy in their banks- something which according to experts is a cause of concern Given how critical an issue NPL exposure is we would expect every CRO to track how the NPL strategy is being implemented its effectiveness and how to improve matters to the Board Risk Committee and the Board the banking experts said Meanwhile the survey results also found that although 94 per cent of the banks had stress-tested their balance sheet in terms of NPL drag this figure drops to 56 per cent while considering the impact to and from the wider economy market and structural aspects It seems that 33 per cent of the banks do not formally consider this aspect with a further 11 per cent not looking at this dimension at all the researchers said Experts also noted that with Basel 3 farther putting capital under pressure sensible banks should dynamically model the impact of key risks to their capital However the survey results show 17 per cent of the banks are not doing so while 31 per cent doing it in a limited manner Asked whether their banks risk-appetite-statement metrics reflected their NPL strategy 36 per cent of the respondents said they do so in a limited capacity while a further 80 per cent are not doing that at all It was also found that 25 per cent of the C-Suites have specific NPL-strategy-related targets while 31 per cent of the CROs have the same Meanwhile when asked whether they consider their NPL strategy to be embedded just over half of them or 52 per cent of the survey participants said Yes This according to experts is clearly not fit for purpose given the severity of the NPL issue facing the banking sector The first step in looking into the NPL issue is to assess internal capabilities to effectively manage NPLs Next external conditions or operating environment needs to be considered Finally the capital implications of the NPL strategy need to be analyzed said Sajib Azad The findings of the survey will be shared with the stakeholders during the next CRO forum of BIBM expected to take place next month where the issue of Risk Culture will also figure high The biggest reason for the swelling of NPL in our banking sector is a lack of good governance To check the ballooning of NPL the internal governance of the banks has to be strengthened above all Director-General of BIBM Toufic Ahmad Choudhury said Meanwhile the survey also found banks tending to consider time-horizon portfolio segment and exposure-level-based targets to be broadly equally important to their NPL strategy In terms of options preferred for reducing NPL banks consider change of exposure type to be most effective (36 per cent) followed by active portfolio reductions (33 per cent) and hold forbearance (31 pe rcent) Source httptodaythefinancialexpresscombdfirst-pagebanks-lack-remedial-strategy-while-npl-rises-worryingly-1510417700

GOVT SEEKS US$183B UNDER 39TH JAPANESE ODA PACKAGE The government has sought around US$183 billion worth of assistance from Japan for bankrolling six development projects officials said Saturday

Daily News Flash 12th November 2017

24

Officials at the Ministry of Finance (MoF) said they have already discussed the issue with the Japan International Cooperation Agency (JICA) We are hopeful of receiving funds under its upcoming 39th Official Development Assistance (ODA) package to finance six development projects a senior MoF official told the FE He said a JICA mission in September-October last completed its visit to Bangladesh to explore the possibilities of financing the proposed projects We are hopeful of signing the 39th ODA package with JICA within a couple of months he said After signing the loan deal the largest bilateral donor will start disbursement of funds from the proposed $183 billion aid package for the six development projects the MoF official added The proposed six projects under the 39th ODA package are Matarbari port development Dhaka MRT line-6 construction (phase-III) Dhaka MRT line -5 feasibility study Matarbari ultra super critical coal-fired power plant (phase-IV) Jamuna Railway Bridge construction and Health service strengthening project A senior official of Economic Relations Division said the proposed 39th ODA package will be very useful for Bangladesh as it will be utilised to develop the Matarbari port ongoing Matarbari power plant project conduct feasibility study and detailed design of the MRT line-5 in Dhaka and to construct railway bridge over the River Jamuna All of these projects are very important for the country to ensure smooth transportation and uninterrupted power supply he added Japan is the largest bilateral development partner of Bangladesh Over last 5-6 years it has enhanced its aid with confirmation of more than US$10 billion worth of funds under each of the aid packages In the last 38th ODA package signed in June 2017 JICA provided Yen 178223 billion ($164 billion) for utilising in six development projects on transport infrastructure power and water sector improvement works In June 2016 Japan signed the 37th ODA deal worth $150 billion (17354 billion Japanese Yen) with Bangladesh and in December 2015 it inked the 36th ODA package confirming $12 billion concessional loan for six development projects Under the last 38th ODA package JICA offered $700 million (Yen 76825 billion) for Hazrat Shahjalal International Airport Expansion project $480 million (Yen 5273 billion) for 2nd Kanchpur Meghna and Gumti bridges construction $50 million (Yen 5593 billion) for Dhaka Mass Rapid Transit development project (Line 1) $100 million (Yen 10745 billion) for Matarbari ultra super critical coal-fired power plant $190 million (Yen 20477 billion) for Dhaka underground substation construction project and $110 million (Yen 11853 billion) loan for small scale water resources development project Japan has so far provided Bangladesh with nearly US$12 billion in assistance since the financial year (FY) 1971-72 Source httptodaythefinancialexpresscombdfirst-pagegovt-seeks-us183b-under-39th-japanese-oda-package-1510417739

SUMMIT GROUP ENTITIES TO ISSUE PREFERENCE SHARES WORTH $1250M A subscription closing ceremony to raise capital through issuance of preference shares worth BDT 1000 million (USD 1250 million) for Summit Barisal Power Limited amp Summit Narayanganj Power Unit II Limited was held recently at Pan Pacific Sonargaon Dhaka said a statement LankaBangla Finance Limited acted as the Mandated Arranger LankaBangla Investments Limited acted as the Issue Manager and The City Bank Limited acted as the Agent Account Bank amp Custodian Bank to raise the fund In the event Mr Lt Gen (Retd) Engr Abdul Wadud Managing Director of Summit Barisal Power Limited amp Summit Narayanganj Power Unit II Limited Mr Khwaja Shahriar Managing Director amp

Daily News Flash 12th November 2017

25

CEO of LankaBangla Finance Limited Mr Mohammed Nasir Uddin Chowdhury Managing Director of LankaBangla Capital Market Operations Mr Mominul Islam Managing Director amp CEO of IPDC Finance Limited Mr R Q M Forkan Managing Director amp CEO of Bangladesh Commerce Bank Limited Mr Faruq M Ahmed Additional Managing Director of Trust Bank Limited Mr Akthar Hamid Khan Deputy Managing Director of Pubali Bank Limited Mr Arif Hasan Khan Vice President of Modhumoti Bank Limited Mr Mohammad Ibrahim Khalil FCA Vice President amp CFO of Bank Asia Limited and Mr Mahbub Jamil Vice President and Head of Structured Finance of The City Bank Limited along with other senior officials from the companies were present Source httptodaythefinancialexpresscombdstock-corporatesummit-group-entities-to-issue-preference-shares-worth-1250m-1510411878

BMBA URGES MUHITH TO EXEMPT INVESTMENTS BY MF SPONSORS Bangladesh Merchant Bankers Association (BMBA) has urged the finance minister to exclude some components including sponsors investments in mutual funds (MFs) from the banks exposure to the capital market It made the request for ensuring an environment conducive to gradual development of the capital market according to a proposal submitted to Finance Minister AMA Muhith last week The BMBA said the long-term or strategic investments needed to be excluded while calculating the exposure as these investments were not intended for frequent trading Non-convertible preference shares and non-listed securities also need to be excluded from the capital market exposure as it will never influence the capital market volatility it said in a letter to the minister According to the letter the MFs are passive investments where investors themselves are not involved in investment decision making and such fund portfolios are mostly of long-term nature than frequent trading On the other hand the sponsors of the MFs need to hold 10 per cent of the investment until liquidation of the fund So considering the fact the sponsors portions in MFs need to be excluded from the banks capital exposure said the BMBA proposal As per the Banking Act 1991 it said reporting requirement is on solo basis but the central bank has introduced consolidated calculation which is of dual effectdouble counting in the market exposure This kind of restrictive measure creates panic situation in the market and may hinder the potentials and prospects of the capital market as a whole the BMBA said It also said that this kind of practice needed to be stopped as such requirements and reporting practice would further squeeze the market and that the investors would lose their interest The BMBA said some organisations have invested on strategic purpose and were holding positions in the board and their exposure increased with rising the market price of MF units On the other hand in compliance with the securities rules they are unable to sell shares to reduce exposure the BMBA said terming the situation complicated In its letter the BMBA said that the capital market exposure of some banks and financial institutions increased without fresh investments following the upward trend of the market price as the exposure is calculated on the basis of market price If the banks need to go for selling off their excess exposure this will create unnecessary selling pressure on the market said the BMBA The association requested the finance minister to consider their proposal to facilitate the growth of the capital market by its own strength and prospect Source httptodaythefinancialexpresscombdstock-corporatebmba-urges-muhith-to-exempt-investments-by-mf-sponsors-1510411950

Daily News Flash 12th November 2017

26

ATIUR STRESSES ROLE OF REGULATORS IN DIGITAL FINANCIAL INCLUSION Former Bangladesh Bank Governor Dr Atiur Rahman chairs a session at the 5th Biennial Competition Regulation and Development Conference at Jaipur in India on Thursday Success of digital financial inclusion depends on the prudent role of the regulating bodies to a great extent And the recent progress in Bangladesh in this regard is a good example for the rest of the world to follow said Dr Atiur Rahman former governor of Bangladesh Bank says a statement He was chairing a session at the 5th Biennial Competition Regulation and Development Conference at Jaipur India on Thursday The three-day conference is being hosted by CUTS International and OECD Speakers of the session included Ravinder S Aurora Senior Vice President of Mastercard David Ongolo Kenyan Competition Authority and Dr A K EnamulHaque Professor of East West University Dhaka Many developing countries survived and even thrived during the last global financial crisis because they chose to follow a broad-based financial inclusion strategy And digital solutions played a crucial role in this financial inclusion drive said Dr Rahman He added that service providers must focus on reaching out to the customers in the rural socio-economic conditions Dr Rahman said that experience from Bangladesh can answer many of the burning questions regarding digital financial inclusion The central bank of the country has facilitated bank-led digitisation drive Be it Mobile Financial Service or be it Agent Banking the Bangladesh Bank has encouraged traditional players (ie the commercial banks) to lead the way And it has been proven to be very successful He also said that the world is witnessing only the beginning of the digital finance revolution Hence we must learn from all these experiments share our experiences and know-hows Only then we can work towards shaping global standards and practices Dr Rahman finally asked all central banks to be more proactive and collaborative with other stakeholders including non-traditional financial service providers to facilitate orderly development of digital financial inclusion so that consumers interests are better protected The grievance redressal mechanism developed in Bangladesh Bank with infusion of state of the art technology to gain trust of the customers in financial inclusion was also discussed widely in the session The panelists highly appreciated Bangladeshs regulatory move with public interest in mind using latest technology for replicable digital financial inclusion Source httptodaythefinancialexpresscombdtrade-marketatiur-stresses-role-of-regulators-in-digital-financial-inclusion-1510416319

FAO FEARS NEGATIVE BD FOOD OUTPUT GROWTH ON FLOODING Recent flooding has dampened the outlook for Bangladesh a likely third successive season of little or negative food production growth mainly rice reports UNB quoting FAO Barring major setbacks production recoveries could instead permit Bangladesh and Sri Lanka to slightly lower their 2018 imports to 11 million and 450 000 tonnes respectively according to the latest Food Outlook published by the UN Food and Agriculture Organisation (FAO) Among other rice importers Bangladesh Iraq Nigeria and the Philippines are all similarly predicted to replenish their inventories according to the report a copy of which obtained by the news agency These gains are however likely to be offset by stock reductions in the Republic of Korea Madagascar Sri Lanka and the United Republic of Tanzania all linked to output shortfalls Although the use of rice as animal feed is being sustained by the release of supplies from government granaries in Japan the Republic of Korea and Thailand more affordable feedstuffs are expected to displace rice in most other countries especially in Bangladesh China (Mainland) and Vietnam

Daily News Flash 12th November 2017

27

Since the previous Food Outlook report a series of unfavourable climate-related events have affected main paddy crops in the Northern Hemisphere which have now reached the harvesting stage This has been the case in Asia where unlike 2016 the critical Northern Hemisphere summer months were characterised by mixed growing conditions that inhibited planting expansions As a result FAOs latest forecast of world rice production in 2017 points to a broadly stable output level of 5008 million tonnes Production in Asia is now forecast to fall 550 000 tonnes below the 2016 bumper harvest to 4525 million tonnes The UN agriculture agency has said the cost of importing food is rising in 2017 driven by increased international demand for most food stuffs as well as higher freight charges The cost of importing food is forecast to rise six per cent in 2017 to $1413 trillion making it the second highest bill on record while food commodity prices have been generally stable according to the latest Food Outlook that expressed concern about the economic and social impact of this trend on poor countries Although weather disruptions are set to stall production growth this season global rice supplies are still forecast to exceed utilisation enabling a small expansion of world rice inventories Global trade is expected to rise only modestly in 2018 after staging an 8 per cent recovery in 2017 The food import bills are set to increase by double-digit rates for least-developed countries (LDCs) and low-income food-deficit countries Aromatic rice varieties have risen eight times faster than the FAO All Rice Index which is up four per cent on the year However the higher import costs come at a time when inventories are robust harvest forecasts are strong and food commodity markets remain well supplied The export of tropical fruits is promising for poverty relief and rural development as almost all production takes place in developing countries The export volumes of mango pineapple avocado and papayas are on course to achieve a total combined value of $10 billion this year according to the Food Outlook Source httptodaythefinancialexpresscombdfirst-pagefao-fears-negative-bd-food-output-growth-on-flooding-1510336161date=11-11-2017

STOCKS NUDGE HIGHER AS BANK TELECOM ISSUES SURGE Stocks extended the winning streak for the two consecutive weeks that ended Thursday as enthusiastic investors continued their buying appetite on bank and telecommunication issues Market operators said the positive momentum in some large-cap issues especially from banking telecom pharmaceuticals and food amp allied sectors helped the bourse to stay upbeat The banking sector posted the highest return of 445 per cent as 27 out of 30 listed banks ticked higher Four banks gained more than 10 per cent each The telecom sector also surged 342 per cent as Grameenphone the countrys largest market-cap listed companys shares price jumped 40 per cent to close at Tk 45690 each The market extended the winning streak riding on heavyweight bank and telecom issues said an analyst at a leading brokerage firm The week featured five trading sessions as usual Of them first session saw marginal correction while last four closed higher Week-on-week DSEX the prime index of the Dhaka Stock Exchange (DSE) jacked up by 9454 points or 155 per cent to finish at 6193 The two other indices -- the DS30 index and the DSE Shariah Index (DSES) - also closed higher at 2244 and 1341 points

Daily News Flash 12th November 2017

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Both the indices added 4264 points and 1218 points respectively During the week banking pharmaceuticals and telecommunication sector stocks contributed more to keep the market up commented City Bank Capital Resources a merchant bank in its weekly analysis The port city bourse Chittagong Stock Exchange (CSE) also ended higher The CSCX advanced 180 points or 156 per cent to finish at 11618 International Leasing Securities a stockbroker noted that the market observed an upbeat vibe throughout the week riding on the news of soaring of net foreign investment in the capital market in the first 10 months of 2017 compared to the same period of last year Net position of foreign portfolio with the DSE stood at Tk 1623 billion in January-October compared to Tk 80 billion in the same period a year ago However some investors were reshuffling their portfolios after observing the year-end corporate declarations and first quarter earning disclosures the stockbroker added According to EBL Securities The market witnessed an upbeat tune throughout the week riding on regained confidence among the market participants The stockbroker noted that preferable year-end and quarter-end earnings declarations by several companies helped them to remain positive about market The total turnover for the week amounted to Tk 3591 billion on the DSE which was Tk 3027 billion in the week before The daily turnover averaged Tk 718 billion which was nearly 19 per cent higher than the previous weeks average of Tk 605 billion Block trade accounted for 16 per cent of the total weekly turnover where stocks like BATBC Beximco Pharma Shahjalal Islami Bank Square Pharma and Singer Bangladesh dominated the block trade board Banking sector kept its dominance over the turnover chart grabbing 35 per cent of the weeks total transaction followed by engineering with 18 per cent and pharmaceuticals 11 per cent Out of 336 issues traded 207 closed lower 116 ended higher and 13 issues remained unchanged on the DSE trading floor during the week The market capitalisation of the DSE rose 137 per cent as it was Tk 4123 billion on the opening day of the week and it stood at Tk 4179 billion on closing day of the week City Bank topped the weeks turnover chart with 5390 million shares worth Tk 184 billion changing hands followed by IFAD Autos with Tk 121 billion Brac Bank Tk 10 billion LankaBangla Finance Tk 994 million and Dhaka Bank Tk 926 million Reckitt Benckiser was the weeks best performer posting a gain of 1925 per cent while Stylecraft was the weeks worst loser slumping by 3322 per cent A new issue - Oimex Electrode-- made debut last week and soared 1042 per cent from its offer price of Tk 10 in the first trading day on Monday Source httptodaythefinancialexpresscombdstock-corporatestocks-nudge-higher-as-bank-telecom-issues-surge-1510332934date=11-11-2017

BANGLADESH GROWING AS DENIM HUB The growing global demand for fashionable denim wear encouraged both local and foreign entrepreneurs to make fresh investment in Bangladesh participants and organisers of Bangladesh Denim Expo have said Many of the 30 local denim mills are going for expansion while a couple more will come into operation with fresh investment within next two or three years they said Some foreign companies are opening offices or setting up factories in Bangladesh they added The seventh edition of the two-day Bangladesh Denim Expo was held in the city recently with the theme transparency to highlight the need for transparency in the entire denim supply chain

Daily News Flash 12th November 2017

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A total of 65 exhibitors from 12 countries participated in the show while more than 12 thousand visitors from across the world registered online to attend the two-day expo organisers said Talking to the FE on the sidelines of the expo Md Khalid Mosharof assistant general manager at Dekko Group said the group invested Tk 15 million in setting up a new factory of 44 lines at Ashulia that would go for denim item production in June next The main reason is to tap the growing global demand he said Echoing him Syeed Ahmed Chowdhury general manager operation at Square Denim said the company expanded its denim fabric production capacity to 30 million yards from the existing 15 million yards per month mainly to meet the demand He however opined that the expansion is taking place more in garment segments than in fabric production There is no alternative to expansion to sustain the existing business and achieve the $50 billion garment export earnings target by 2021 Sharif Zahir managing director of Ananta Group said stressing the need for positive branding of the sector Meanwhile Landes a German denim accessories maker started production in its new factory at Savar from this month It invested US $05 million We opened the factory in Bangladesh as we think this is the hub for denim business and there is a lot of business prospects here Manfred Slowik chief operating officer of Landes told the FE at his stall at the expo By the end of next year the total workforce in our new plant will be 120 people as we are recruiting new people from existing 30 Mr Slowik said Landes has a target to produce 500 million pieces of leather patches used in denim trousers as accessories in a year at its Savar plant from where such accessories will be supplied to the whole Asian region Many big brands like HampM VF and Walmart are their customers he said Nezahat Boni senior account manager of Orta a Turkish denim maker said her company supplies 30 million metres of denim fabrics in Bangladesh in a year against only 800 meters in 2011 We opened an office in Bangladesh in 2011 as we cannot ignore the importance of this country as a denim hub she said Prosperity Textile a Chinese company opened its office in Dhaka last year said Md Mujibul Hoque the companys Bangladesh Sales Director The company has targeted sale of 100 million yards a year across the globe while it also targets 30-40 per cent of their sales in Bangladesh Bangladesh is now the top denim products supplier to the European Union overtaking China and third largest to the US after China and Mexico industry people said Bangladesh supplies denim products to major global buyers and retailers including levis G-Star Raw HampM Tesco Wrangler Hugo Boss Walmart and Gap Source httptodaythefinancialexpresscombdtrade-marketbangladesh-growing-as-denim-hub-1510332061date=11-11-2017

EXPORTS UP 70PC IN JULY-OCTOBER Countrys export earnings grew by 703 per cent to US$1150 billion during first four months of the current fiscal year (FY 2017-18) according to official data released Thursday The earnings were $1079 billion in the same period (July-October) last FY In October 2017 the exports grew by 642 per cent to $284 billion the Export Promotion Bureau (EPB) data showed The overall exports in the first four months slightly (074 per cent) fell short of the periods target In October however the exports were 628 per cent higher than the months strategic target Readymade garment shipments fetched $943 billion marking 699 per cent growth during the period as compared to $882 billion in the same period of last FY

Daily News Flash 12th November 2017

30

The woven items registered 385 per cent growth in earnings to $445 billion than that of $428 billion in the same period of FY 2016-17 The earnings from knitwear export during the period grew by 995 per cent to $498 billion from $453 billion in the corresponding period of last FY Jute and jute goods exports rose by 1646 per cent to $34501 million from $29626 million in the same period of FY17 The earnings from agriculture products grew by 2022 per cent during the period while home textiles by 2037 per cent The earnings from leather and leather products however fell marginally by 002 per cent to $42844 million during the period than that of $42851 million in the same period last FY The export earnings from frozen food and live fish grew by 1541 per cent to $22691 million from $19661 million of the corresponding period of last fiscal Mahmud Hasan Khan vice president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) said the exports in the first four months of the current fiscal year fell short of the expected growth mainly because of failure in maintaining the lead time and short supply of gas and electricity Terming the knitwears growth satisfactory he said woven items manufacturers have been struggling to cope with the new challenge as buyers were reducing the volume of orders due to failure in meeting the lead time Without efficient port and strong backward linkage industry especially for the woven sub-sector it will be difficult for the sub-sector to bounce back he feared He pointed out that maximum of the woven fabric requirements were being met through imports But it was taking too much time to clear the imported fabrics and additional charges as a result at the Chittagong seaport that was facing unbearable congestion The government should provide necessary policy support to the exporters to establish strong backward linkage industry for the woven sub-sector he added Source httptodaythefinancialexpresscombdfirst-pageexports-up-70pc-in-july-october-1510248870date=10-11-2017

GAS CRISIS HURTING OUTPUT IN INDUSTRIAL BELT Factories in the countrys Tongi-Gazipur industrial belt have been facing acute gas crisis over the past few months following diversion of gas to upstream power plants The crisis has deteriorated further this week albeit some improvements for a few days last week said local industrialists and businessmen According to them if the ongoing gas crisis persists they may be forced to shut down their factories Officials of the Titas Gas Transmission and Distribution Company Limited (TGTDCL) however blamed the Petrobangla for the gas crunch Sources concerned say the industrial belt of Tongi-Gazipur is suffering badly for about four to five months from low pressure of gas coupled with poor electricity voltage -- often resulting in huge volume of industrial wastages and reduction of production efficiency According to the industry insiders a factory in the industrial belt requires 04 PSI (production per square inch) as optimum gas pressure but the pressure at times comes down to as low as 01 PSI these days -- especially during the daytime Gas pressure in the area becomes normal around 10pm11pm and stays for not more than 08 hours until 6am7am an entrepreneur of the industrial belt informed Asked an official of Titas said they are at present getting nearly 250 million cubic meters (MCM) less in recent weeks against their current demand of 1800 MCM gas in Titas franchise The downstream Titas franchise area covers greater Dhaka region which includes Gazipur alongside some other adjoining districts and greater Mymensingh he said

Daily News Flash 12th November 2017

31

A Petrobangla source however cited gas supply on priority basis to a number of upstream projects including power plants as reason behind supply shortage When asked Managing Director of Akij Group Sk Bashir Uddin termed the situation really worrisome According to him two of Akij Group companies situated in the area -- Akij Printing amp Packages Limited and Dhaka Tobacco Industries -- jointly contributed nearly Tk 35 billion (3500 crore) to the national exchequer in the 2016-17 fiscal year But were very much worried about our industrial output this year as production disruption following the twin crises involving gas supply and power supply Both will eventually disrupt our retail business in every phase he quipped This often results in a high rate of industrial wastage and reduction of production efficiency he added Bangladesh Auto Re-rolling Steel Mills amp Association Chairman Manwar Hossain who is also Anwar Group Managing Director echoed the same concern Factories in the industrial belt are now operating at one-third of their capacity which may lead to labour unrest and default of huge sum of bank loans he said Such disruption of production he cautions may even cause sudden shutdown of factories According to him none of the victims in that case will be the wilful defaulters -- they will be the victims of circumstances The businessman who has a steel factory called Anwar Ispat Limited in the industrial belt called for immediate introduction of ECM (electronically controlled meters) to check unabated gas engineering in the area which he deems to be yet another reason for gas supply crunch Titas officials according to him are encouraging co-generation scheme to help address the severe gas crisis But he said co-generation will require stable and smooth gas supply Government should ensure at least 10-15 years of smooth gas supply to encourage co-generation as what he said any industrial investment requires 20 years of payback period TGTDCL Deputy Managing Director Engineer Abdul Wahab Talukdar who is also the Project Director of Sripur-Joydevpur Transmission Pipeline Project said We cannot do anything to address the crisis if there is a lack of adequate gas supply Mentioning that all factories in the industrial belt are like my babies he unequivocally said Titas is not at fault He also admitted that priority-based power plants gas supply being the reason behind the current spell of gas crunch We have already started introducing electronic volumetric corrector (EVC) to stop illegal gas use in the area he said Factories he added should go for co-generation scheme for protecting their own interest Co-generation means utilising and absorbing heat generated from gas generators which Mr Wahab said will save energy A section of the businessmen however called for stopping fertiliser production and distributing the same among people at a subsidised price after importing it to facilitate smooth supply of gas to other industries Even if the government stops fertiliser production and opts for importing it for distribution at a subsidised rate there will only be an insignificant loss compared to the overall losses now being incurred said an industrialist who has more than one factory in the industrial belt Local sources said illegal and unapproved gas connections in various industries in and around the zone are also affecting gas supply badly among other reasons Source httptodaythefinancialexpresscombdfirst-pagegas-crisis-hurting-output-in-industrial-belt-1510249018date=10-11-2017

Daily News Flash 12th November 2017

32

SINGLE PERSON MAY FORM COMPANY A single person may form a commercial firm under a provision of the companies law being updated along with some other major business-stimulating measures Official sources said the government is considering incorporating some new provisions including one allowing individuals to form any company into the updated Companies Act The other provisions are formation of an appellate tribunal to resolve legal matters without wasting much time widespread automation of companies work and submission of annual company reports online Earlier the Ministry of Commerce (MoC) had received some recommendations from the stakeholders on how to update the law they added We got most of the recommendations from the stakeholders We hope we will be able to prepare the draft Companies Act within a month Md Obaidul Azam director trade organisations (DTO) told the FE He said the recommendations the ministry had received so far were being scrutinised before preparing a draft for updating the companies act Earlier different trade bodies had sent their respective recommendations to the MoC for incorporation into the law The MoC will hold a meeting with the countrys apex trade body after assessing the recommendations and suggestions the ministry official said Talking to the FE a leader of an influential trade body said they had sent some recommendationssuggestions to the MoC for the new Companies Act for betterment of the countrys trade and business According to Section 2 (1) (c) of the Companies Act 1994 Company means a company formed and registered under this Act or an existing company Thus a company is an association of persons formed under the Companies Act 1994 with a view to achieving some common objectives Though a company is regarded a legal person it possesses similar rights and owes similar obligations like a natural person Now any individual fulfilling the new criteria may be allowed to form a firm Source httptodaythefinancialexpresscombdfirst-pagesingle-person-may-form-company-1510249090date=10-11-2017

DSE TURNOVER CROSSES TK 80 BILLION MARK The daily turnover on Dhaka Stock Exchange (DSE) exceeded the Tk 80 billion mark on Thursday as investors took fresh exposure to the banking sector Turnover a crucial indicator of the market reached Tk 870 billion on the countrys premier bourse jumping 14 per cent from the previous days transaction of Tk 765 billion It was the biggest single-day transaction since October 11 when the turnover totalled a record Tk 1092 billion Along with rising turnover DSEX the prime index of the Dhaka bourse continued to keep its gaining momentum closing 3449 points higher at 6193 points DSEX which replaced the DGEN in nearly five years back added more than 121 points or 20 per cent in the past four consecutive sessions The two other indices -- the DS30 index and the DSE Shariah Index (DSES) -- also followed suit to end at 2244 and 1341 points after gaining 1422 points and 443 points respectively Brokers said the market maintained the bullish trend for the four straight sessions as the enthusiastic investors chased the banking sector stocks The market continued the bullish trend for the four consecutive sessions as the enthusiastic investors were active for the banking food and engineering sector stocks commented EBL Securities a stockbroker in its regular market analysis

Daily News Flash 12th November 2017

33

It noted that the core index remained positive throughout the session as optimistic investors kept buying sector-wise stocks while some rebalanced their portfolios Meanwhile share price of newly listed Oimex Electrode continued to decline for the three consecutive sessions after unusual hike during its debut trading on Monday The companys share price fell 763 per cent to close at Tk 9810 on Thursday after jumping more than tenfold during the debut trading which experts termed unusual Block trade contributed Tk 241 million to the days total turnover with stocks like BATBC Square Pharmaceuticals Singer Bangladesh and Beximco Pharma dominating the block trade board Among the major sectors pharmaceuticals posted the highest gain of 122 per cent followed by banking sector (083 per cent) food amp allied (067 per cent) engineering (033 per cent) financial institutions (003 per cent) and power (003 per cent) Only telecommunication sector faced a 045 per cent correction A total number of 0140 million trades were executed in the days trading session with trading volume totalling 23171 million securities The total market capitalisation of the DSE stood at Tk 4179 billion against Tk 4168 billion in the previous session Losers however took a modest lead over the gainers as out of 325 issues traded 140 closed lower 130 closed higher and 55 remained unchanged on the DSE trading floor City Bank dominated the turnover chart for the second day in a row with 1035 million shares changing hands closely followed by Dhaka Bank LankaBangla Finance Brac Bank and Keya Cosmetics Reckitt Benckiser was also the days best performer posting a gain of 624 per cent while Qasem Drycells was the days biggest loser shedding 1235 per cent The port city bourse Chittagong Stock Exchange (CSE) also ended higher with its Selective Categories Index -- CSCX --gaining more than 62 points to close at 11618 Losers beat gainers as 113 issues closed lower 97 closed higher and 37 remained unchanged on the CSE The port city bourse traded 1604 million shares and mutual fund units generating a turnover of Tk 483 million Source httptodaythefinancialexpresscombdstock-corporatedse-turnover-crosses-tk-80-billion-mark-1510245247date=10-11-2017

TEN COS GRAB 32PC TURNOVER ON DSE The banking sector continued to dominate the transaction chart of the Dhaka Stock Exchange (DSE) accounting for 39 per cent of the total turnover on Thursday Four banks made their way to the top 10 turnover chart with City Bank leading the chart for the second day in a row Brokers said the investors chased the banking sector issues as more than 63 per cent of listed banks showed positive earnings in the third quarter (July-September period) Meanwhile top 10 traded companies including four banks grabbed more than 32 per cent of turnover on the Dhaka bourse The total turnover on the premier bourse reached Tk 870 billion up 14 per cent from the previous days Tk 765 billion The most active shares in terms of value included City Bank Dhaka Bank LankaBangla Finance Brac Bank Keya Cosmetics Square Pharmaceuticals Beximco Pharmaceuticals IFAD Autos Exim Bank and IDLC Finance According to statistics available with the DSE about 1035 million shares of City Bank were traded generating a turnover of Tk 553 million or 635 per cent of the total transactions

Daily News Flash 12th November 2017

34

The companys share price hovered between Tk 5240 and Tk 5440 before closing at Tk 5390 advancing 228 per cent over the previous session Dhaka Bank came in next with shares of Tk 395 million changing hands contributing 454 per cent to the total turnover The banks share price closed 347 per cent higher at Tk 2380 LankaBangla notched the third spot with shares of Tk 266 million changing hands making up 305 per cent of the total turnover Its share price ended 063 per cent higher at Tk 6430 Brac Bank emerged the fourth with shares of Tk 257 million changing hands grabbing 295 per cent of the total turnover The banks share price settled 123 per cent higher at Tk 107 Keya Cosmetics featured a turnover of Tk 247 million or 284 per cent of the total turnover Its share price closed 201 per cent higher at Tk 1520 The turnover of Square Pharma was Tk 241 million or 276 per cent of the total transaction Its share price ended 612 per cent down at Tk 27890 Beximco Pharma featured a turnover of Tk 211 million or 242 per cent of the total turnover Its share price advanced 428 per cent to close at Tk 10960 The turnover of IFAD was Tk 208 million accounting for 238 per cent of the total turnover Its share price closed at Tk 14070 gaining 195 per cent Exim Bank featured a turnover of Tk 196 million or 225 per cent of the total transaction The banks share price inched up 055 per cent to close at Tk 1830 IDLC also made its way to the top ten turnover chart with shares of Tk 188 million changing hands Its share price closed 223 per cent higher at Tk 9150 Source httptodaythefinancialexpresscombdstock-corporateten-cos-grab-32pc-turnover-on-dse-1510245290date=10-11-2017

FOREIGN INVESTMENT HIKE INFO DRIVES MODERATE GAINS ON DSE The Dhaka bourse Thursday closed the session posting a moderate rise in the broad index and turnover amid mixed performance displayed by major sectors On the day most of the major sectors declined but the turnover crossed Tk 80 billion-mark after two sessions on Dhaka Stock Exchange (DSE) mainly because of investors increased participation in the banking sector According to a market review of International Leasing Securities positive momentum in some big-cap stocks especially from bank food and engineering sectors helped the bourse to close in green The market started the session with a positive note and the DSE broad index DSEX witnessed little ups and downs before closing higher According to AT Capital Partners the market remained sideways till the midsession The DSEX rose again in the second half of the session and closed at 61936 up by 345 points The shariah based index DSES and blue chip index DS30 also rose marginally The turnover stood at above Tk 870 billion which was 1370 per cent higher than the turnover of the previous session The confident drive was initiated by the investors buying spree riding on the news of doubling net foreign investment in stocks year-on-year in the first ten months of 2017 said the International Leasing SecuritiesAmong the gaining sectors bank advanced 08 per cent and engineering 03 per cent Of the losing sectors pharmaceuticals amp chemicals declined 11 per cent telecommunication 05 per cent and textiles 09 per cent The banking sector grabbed 384 per cent of the market turnover at the premier bourse DSECity Bank topped the turnover chart with a value of Tk 553 million followed by Dhaka Bank LankaBangla Finance BRAC Bank and Keya CosmeticsReckitt Benckiser (Bd) limited topped the gainers chart with a rise of 624 per cent to close at Tk 18456 while Quasem Drycells was the worst loser after declining 1235 per cent to close at Tk 8230 Source httptodaythefinancialexpresscombdstock-corporateforeign-investment-hike-info-drives-moderate-gains-on-dse-1510245365date=10-11-2017

Daily News Flash 12th November 2017

35

MORE JAPANESE COMPANIES SEEK TO INVEST IN BANGLADESH Japanese Ambassador to Bangladesh Hiroyasu Izumi has said the Japanese investors are keen to invest in Bangladesh considering the lucrative offer and ideal atmosphere for foreign investment reports BSS The Japanese investors expressed more interest to invest in Bangladesh at recently-held the third round of Public-Private Economic Dialogue between Bangladesh and Japan he said while visiting the Chittagong Export Processing Zone (CEPZ) on Thursday The envoy expressed the hopes that Japanese investment in the Export Processing Zones (EPZs) will increase after the successful dialogue said a press release More and more Japanese companies will come to invest in this country he added General Manager of CEPZ Khorshid Alam maed a PowerPoint presentation highlighting the overall scenario of EPZ as well as Bangladesh Export Processing Zone Authority (BEPZA) Mentioning Bangladesh EPZs as the Bonanza for Investors he said investors from 38 countries have set up industries in the EPZs and invested US $442 billion He informed the ambassador that BEPZA has ensured three layer security system including 24-hour CCTV surveillance in the key points of EPZ and factory premises for the safety of the investors Source httptodaythefinancialexpresscombdtrade-marketmore-japanese-companies-seek-to-invest-in-bangladesh-1510250285date=10-11-2017

Source httpwwwarthosuchakcomarchives388209

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Daily News Flash 12th November 2017

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Source httpwwwkalerkanthocomprint-editionindustry-business20171112564388

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ও ও

ও ৩০ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111811 - - - -

-

২৭ ১১

১০

( ) ২৮৪

৬ ২৮ ৭ ১৫১

৭৪

ও - ও

ও - ও

ও ৩

৭ ১ ২৩

৯৪৪ ৮৮২ ১০

ও ৪ ৭ ও

৪ ৩৮ ও ১৫ ৪১ ২২ ৭০

২০ ৩৬ ১৩ ও

৪৬ ২২ ২০ ও

১৭ ৩৭১ ও ও

১৭ ও ৪৩ ও

Daily News Flash 12th November 2017

43

৬ ২০ ও ১৬

৩৫ ২০ ২৭

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111810 - - - - -

ও ও

১৩০ ও ১৪০

৫৫ ও ৯৭ ১১৩

৩৭

৩৪

৬১৯৩ ৬২ ১১৬১৭

৩০ ১৯

ও ও

ও - ও

৪৮ ৩১

১২ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111808 - - - - -

৩৫ ও ১০

ও ( ) ও

১০

ও ও -

২ ৩০০

২০১৪ ও

ও ৭ ২০১৪ ও ২০১৫

৫ ৭ ও ১২ ৮ ২৩

২০১৩ ১ ৪২০ ২০১৪ ১০ ৫ ১ ৫৭০

১৩ ৪ ও ১ ৩৫৮ ১০

২০১৬ ও ৩ ৫ ১ ৩১০ ২০১৪

২০১৬ mdash ২ ১ ঋ

১০ ও ২০১৩

২৯ ৮০ ২০১৪ ৫ ৭ ৩১ ৫০ ২০১৫

১২ ৩৫ ৩০ ২০১৬ ৭ ৩৭ ৮০

Daily News Flash 12th November 2017

44

২০১৪ ২০১৬

৩২ ৩৫ ও ৫০ ১৯

৫৬

১৭ ৪৬ ২০১৪ ২০১৬

৭২ ১০০ ও ১১১

২০১৪ ২০১৬ ১৫ ৬৩

৯১ ১১৪ ও ১১৮ ৮ ২৩

৮০ ৯০ ও

ও -

ও -

ও ও ও

১০ ও

১০ ও ২২

৭১ ১২ ৪২

৩২ ২৬ ও

ও ও

( ) ও

ও ২০২১ ও ও

৫ ১ ১৬

ও ও

Source httpbonikbartanetbanglanews2017-11-12137992 - - -- -

৫০০ ৫০০ ও

ও ৩০ ২০১৭

৫০০ ও ঋ ২০১৮

৩০

১ ২০ ও ১৫০

১১

Daily News Flash 12th November 2017

45

৩০০ ৬০০

( ) ও

১ ২৫ ও ১০

১০ ও

ঋ ও

৩০ ২০১৭ ৩ ও ১২ ও

( ) ২ ১৪ ২ ১

ও ৩০ ১১

( ) ও ও

( - ) ৬৬ ৫৫ ৩০

( ) ৩৪ ৯০

ও ও ও

( ) ও

ও ও ২০১৫ ৩০ ১০ ২০১৬

১২

( ) ৪১ ২০ ও ২৩ ৬০

৫০ ও

২০১৪ ৩০০ ও ১৪৮ ৪৬ ৫০

১৯১ ৬২ ৩৭ ৩১

১২ ৪৫ ৫০ ২৪

ও ( ) ১৬ ৫৩

ও ১৫ ২২

Source httpbonikbartanetbanglanews2017-11-12137966৫০০- - - - -ও -

৬৩

- ও ও

৬২ ৯৪ ৫

৬২

৯০

২০১৪ - -

- ও

২০১৬-১৭ ৫ ৬২ ও ২০১৩-১৪

১২

( ) ৯০

-

ও - - ও -

Daily News Flash 12th November 2017

46

- ও

৬২ ৯৪

২০১৩-১৪ ৭০ ৭৮ ২০১৪-১৫ ৫৪ ২২

২০১৫-১৬ ৩৯ ৩৩ ও ২৬ ২৩

ও ২০১৩-১৪

১২ ৩৬ ২০১৪-১৫ ৫ ৯১ ও ২০১৫-

১৬ ১৭ ৩০ ৫ ৬২

৩০ ২০১৭ ১০

২ ৮৬ ও ৩

ও ২৪ ( )

২৭

১৯৬৪ ১২

৪ ও ও ১৯৭২

ও ( )

ও ৩৪ ৮ ও

৯০

৪৫ ও ৫

১৯৬৪ ১৯৭২ ১৯৮৯

১০০ ও ২৬ ১৬ ২০ ৫৪৩ ৭৭

৫ - ৫১ ১৫ ৬০ ও

৩২ ৯০

Source httpbonikbartanetbanglanews2017-11-11137853 - - - - - -৬৩---

( ) ও

১০

ও ও ও

-

ও ও

ও ঋ ও

ও ২০১৪ ও

ও ও

২০১৩

( ) ও

Daily News Flash 12th November 2017

47

২০১৪

২০১৪-১৬ ও

২০১৪

ও ২০১৪

২০১৫ ২৭ lsquo ও rsquo

ও ও

২০১৬ ২৪

( )

ও ও

- ও

ও ও ১৯৮৩ ২০১৬

ঋ ( ) ৫৬০

৮৬৪

২০১৬ ২০১৯ ও

ও ১৫ ২৫ ৩০ ও ৩০

ও ঋ ও

২০১৬ ঋ ১

৩৪২ ঋ ৬ ৫২ ১২৩

ঋ ২ ৪৪৩ ঋ ১০

৮৪ ঋ ৪০

৭২৬

ও ২০১৬ ৭৪১

৪৫৭

২০৭ ২৪৪

১০ ও

ও ও ও ও ও

Daily News Flash 12th November 2017

48

Source httpbonikbartanetbanglanews2017-11-12137998 - - - - - ও- -

( )

৩০ ২০১৭ ২০

( ) ২ ১ ১ ৫৯ (

) ৩০ ( ) ১৫ ৩৭

ও ২৮ ১১

( ) ২৮

২০১৬ ৩০ ১৮ ২০

২০১৪ ও ২০

১৫ ৩০

১৮ ৮০ ও ৯ ৬০

Source httpbonikbartanetbanglanews2017-11-11137850 - - - -

ফ ৭ ২০১৭-১৮ ৭ ৩ ৭৪

( ) ও

( - ) ১ ১৫০ ৫৮

(২০১৬-১৭) ১ ৭৫ ৩ ৬০ ৭

৩ ১ ১৫৯ ২০ ৭৪

ও mdash

৬ ৬৫ ১৭ ৬৩

mdash ও ও

১৫ ৪১ ২২ ৬৯ ১০

১৯ ৬৬ ১০ ২০ ২২

mdash ও ও ও

৩৯ ৫১ ও ২ ও

১৬ ৪৬ ও ও ৬ ৯৯ ও

৩ ৮৫ ৯ ৯৫

১৯ ৮২

৮০

ও ( )

mdash

Daily News Flash 12th November 2017

49

ও ও

Source httpbonikbartanetbanglanews2017-11-10137755 - - - -৭- - --

ফ - ফ ও -ও

-ও

-ও

২৯-১০-২০১১ ৩ ( ) ২৮-১০-২০১৪

৩ ( ) ২৮-১১-২০১৬

২৮-১০-২০১৭ ৩ ( )

২০১৬-১৫৮১৩৪ ৪৪ ০৭-০৮-

২০১২ ১২(৬) ২ ( ) ৬ ( )

-ও - ও ২ ( )

৬ ( ) ও ও

-ও ৩ ( )

-

ও ও

১৯৯৪

২ ২২-০৫-২০১২ -ও ৩

- -

১৯৯৪

-ও

- ও

( )

১৯৯৪

১৯৯৪ -ও

Source httpwwwsharenews24comindexphppage=detailsampnc=1ampnews_id=6587

Daily News Flash 12th November 2017

50

ফ ফ

১৫ ও

-( ) ও

৪৯

১৬ ৮৫

৫১ ৪৯

৪ ৩৬

১৯১৩

১০০ ও ১৯০১ ১৯৬০

Source httpswwwdailystockbangladeshcom - - - -

- ( -১)

( ) ৮

৩০০ ও

( ) ১৬

- ২২৮ ৪৯ ১৮৩ ২০১৮

( ) ও

১৫০

( ) ও ৪০ ৩০

ও ও

ও ও

Source httpswwwdailystockbangladeshcom - - -

Page 8: Daily News Flash, 12th November, 2017 -  · PDF filebanglalink's revenue falls 4.57pc in q3 ... banks lack remedial strategy while npl rises worryingly

Daily News Flash 12th November 2017

8

Veon a multinational telecom company headquartered in Amsterdam said it is evaluating all options to improve Banglalinks capital structures ldquoThe proceeds from any such activity may be used for refinancing of existing debt and general corporate purposes (including capital expenditures)rdquo said the financial statement without giving any specifics Jean-Yves Charlier chief executive officer of Veon had told reporters in Dhaka in July that Banglalink is ready to sell all of its 9000 towers to third parties in order to pool resources to invest to improve network quality The intention was made clear after Bangladesh Telecommunication Regulatory Commission decided to award three licences to manage mobile towers and separate telecom business from operators network infrastructure Banglalink is keen to invest $1 billion over the next three years to improve its service quality as well as support the governments Digital Bangladesh vision Since inception the countrys third largest mobile operator by subscriber base has invested over $251 billion in Bangladesh and contributed $24 billion to the national exchequer The operators 3G coverage reached 70 percent population Source httpwwwthedailystarnetbusinessbanglalinks-revenue-falls-457pc-q3-1489996

FORTY LOCAL COMPANIES TO ATTEND TEXWORLD PARIS Forty Bangladeshi textile and garment companies will participate at Texworld Paris on February 11-14 next year Noman Group has been chosen as an elite exhibitor and given space in the premium area of the show said a statement from Messe Frankfurt the organising company Companies from other countries such as India Pakistan China Myanmar Nepal and Cambodia will also take part ldquoWith such a wide range of countries the show is the most important event for sourcing apparel items Buyers come to the show expecting a wide variety of prices and qualityrdquo the statement said Texworld Paris hosts more than 1000 exhibitors and offers a rich variety of products to professional buyers from all over the world It is particularly the best place to meet buyers from all over Europe including the UK the Netherlands Germany and Turkey The Export Promotion Bureau (EPB) of Bangladesh will take part in the show with a limited number of booths The EPB is providing discounts with a garment booth costing Tk 300000 and a fabric booth Tk 475000 French designer Eymeric Francois along with Texworld consultants Louis Gerin and Gregory Lamaud will organise a Bangladesh Fashion Show in Paris during the event Gerin and Lamaud have been working with Texworld for over 10 years and have been awarded the prestigious Golden Needle Award from ESMOD International Paris Apparel Sourcing Paris the number one European trade fair for worldwide apparel sourcing will also take place at the same time and location Source httpwwwthedailystarnetbusinessforty-local-companies-attend-texworld-paris-1489975

STANCHART TOP OFFICIAL IN TOWN Anna Marrs regional chief executive officer of Standard Chartered Bank for Asean and South Asia has arrived in Dhaka for an official visit During the visit she will meet with some of the banks key stakeholders regulators and clients the bank said in a statement

Daily News Flash 12th November 2017

9

Her visit comes following recent changes in the banks senior management with Naser Ezaz Bijoy being appointed as the CEO of Standard Chartered Bangladesh Bijoy replaced Abrar A Anwar who took charge of the banks operations in Malaysia ldquoAnnas visit reiterates the Groups strong commitment to drive commerce and prosperity in Bangladesh and aid the development of the nations financial sectorrdquo said Bijoy in the statement ldquoAs the oldest financial institution in the country with a heritage of over 112 years and deep local knowledge we remain firmly committed to being a partner in progress to our nationrdquo Marrs is also the CEO of Standard Chartereds commercial and private banking business globally She joined Standard Chartered as group head of strategy and corporate development in January 2012 In her role as the head of strategy Marrs led reviews of the banks businesses globally with notable projects focusing on Nigeria China and India Prior to joining Standard Chartered Marrs was a partner in McKinsey amp Companys banking practice She started her career at DE Shaw a New York-based investment firm Marrs holds an MBA from London Business School and an undergraduate degree from Northwestern University in Chicago Source httpwwwthedailystarnetbusinessstanchart-top-official-town-1489969

EXPORTS SPRING BACK

Exports bounced back in the month of October fetching $284 billion on the back of higher shipments of apparel products ldquoYes garment export is rebounding after a slowdown over the last few monthsrdquo said Siddiqur Rahman president of the Bangladesh Garment Manufacturers and Exporters Association Garment shipments which typically fetch 82 percent of the export earnings brought home $229 billion last month up 4136 percent from the previous month and 602 percent from a year earlier ldquoI hope garment shipments will only increase from here onwards as the peak season is coming uprdquo he added Octobers receipts are higher than the previous months by 399 percent and the previous years by 637 percent according to data from the Export Promotion Bureau The amount which beat the target of $268 billion set by the commerce ministry for the month takes the tally so far in the fiscal year to $1151 billion In the first four months of fiscal 2017-18 leather and leather goods shipment the second largest export earning sector after garment declined slightly It raked in $42844 million down 002 percent from a year earlier But jute and jute goods the next big export earner saw its receipts soar 1646 percent to $34501 million during the period The sectors prospects on the global stage brightened after the long-delayed diversification of the product range and the higher demand for Bangladeshi made jute yarn for carpets and rug manufacturing in Turkey and some Middle-eastern destinations according to industry people Moreover jute exports to Japan and Russia are increasing due to higher demand of natural fibre-

Daily News Flash 12th November 2017

10

made products there exporters said Home textile exports increased 2037 percent year-on-year to $26079 million while the shipment of agricultural products like vegetable fruits spices cut flowers grew 2022 percent to $20321 million Frozen fish live fish and shrimp export increased 1541 percent to $22691 million which is 3721 percent higher than the target for the period Shrimp exporters said they have been receiving better prices from buyers as the demand for the black tiger variety of shrimp increased in the western world Last year shrimp exporters received $550 to $650 for a pound of shrimp but this year they are receiving between $750 and $8 according to exporters Pharmaceuticals exports grew 1731 percent year-on-year to $3219 million and furniture exports 1881 percent to $1415 million Source httpwwwthedailystarnetbusinessexports-spring-back-1489108

EXPORTERS SEEK LONG-TERM TAX ENERGY POLICIES Exporters yesterday demanded long-term and stable tax and energy polices such that they can make their future investment plans accordingly ldquoWe need a long-term roadmap from the government on taxes and energy prices and supplyrdquo said Fazlul Hoque former president of Bangladesh Knitwear Manufacturers and Exporters Association Every year before the budget the National Board of Revenue increases the source tax on export receipts only to bring it down later following requests from businessmen or under political pressure he said For instance the government has been importing liquefied petroleum gas for supplying to the industrial units But it is not clear yet how and when the gas would be supplied to the industrial units he said ldquoHowever it is very simple to fix the rate for the long term so that the businessmen can predict their expenditure and plan for futurerdquo Hoque said at a roundtable on the export potential of Bangladesh Bangla daily the Prothom Alo and banking giant HSBC jointly organised the discussion at the newspapers office in Dhaka where a minister exporters bankers manufacturers and entrepreneurs spoke Siddiqur Rahman president of Bangladesh Garment Manufacturers and Exporters Association echoed Hoques views He also complained about the poor state of the premier Chittagong port and airport in Dhaka Not only the sea port and airport the poor state of the Dhaka-Ashulia highway is also responsible for the bad transportation system The truckers demand higher fares because of the rundown roads between Dhaka and Ashulia-Savar he said Subsequently he called for the highways to be expanded into six lanes as hundreds of garment factories are located on both sides of the road David Hasanat chairman and chief executive officer of Viyellatex Group a leading garment exporter said the garment sectors success stories should be spoken of more ldquoWe should also continue with the PR initiative to carve out a positive picture of the countrys successful garment sectorrdquo he added The exporters of Bangladesh are responsible for not only driving economic growth but also for establishing the Bangladesh brand across the world said Francois De Maricourt chief executive officer of HSBC Bangladesh Muhammad Shohiduzzaman country head of global trade and receivables finance of HSBC Bangladesh said the popularity of export through open accounts system has increased worldwide due to simplicity of the process Bangladesh can also adopt it instead of the time-consuming and traditional letters of credit system he said

Daily News Flash 12th November 2017

11

Saiful Islam president of Leathergoods and Footwear Manufacturers and Exporters Association of Bangladesh (LFMEAB) said the condition of the customs department at the Chittagong port has worsened Customs officials take a lot of time to scrutinise the imported goods meant for manufacturing in the factories Islam said adding that the Chittagong port should have a contingency plan to avoid any kind of sudden deterioration in the system Abu Taher former chairman of the LFMEAB said the global market size of leather goods is $240 billion and in a few years time China will be importing another $100 billion worth of leather and leather goods and footwear ldquoSo we have a lot of opportunity to export leather goods worldwide We need export diversificationrdquo Taher said The demand for diversified jute goods like yarn has been increasing worldwide so the scope for jute and jute goods exports is also rising worldwide said Mahmudul Haque managing director of Sadat Jute Industries Limited ldquoWe need the governments support to make the best of this global opportunityrdquo he added MA Mannan state minister for finance and planning said sometimes the governments activities are stopped through filing writ petitions in the court ldquoThis is one of the major reasons for the slow progress of the governments development projectsrdquo he added Abdul Qayyum associate editor of the Prothom Alo moderated the roundtable Source httpwwwthedailystarnetbusinessexporters-seek-long-term-tax-energy-policies-1489123

DOLLAR SUDDENLY BECOMES DEARER

A frequent traveller who often buys foreign currency from an international bank in Dhaka was charged about Tk 86 for a US dollar on Wednesday Just a month ago he bought a dollar for Tk 83 This sudden rise in dollar price might not make much of a difference to individuals who purchase foreign currency in small amounts and infrequently but for importers who have to settle huge bills it is a major blow For instance if the price of a dollar goes up by even Tk 1 the importer has to bear an additional cost of Tk 10 lakh for $1 million Presently the bills for collection sell rate (at which import payments are made) of a dollar hovers around the Tk 83-mark and the rate goes up further for foreign banks that dominate the currency market The situation has forced the Bangladesh Bank to intervene sitting down with the banks and treasury officials twice in the last two weeks other than selling greenbacks Bankers blamed the depreciation of the local currency on the mismatch between demand and supply of the dollar

Daily News Flash 12th November 2017

12

Remittance and exports the two major sources of foreign currency for Bangladesh are in the slow lane while imports have ballooned Yesterday the inter-bank exchange rate of the US dollar stood at Tk 8095 up from Tk 7849 a year earlier The central bank has already sold $126 million to banks this month to halt the depreciating trend of the taka according to a Bangladesh Bank official ldquoBut it is not yielding the desired result as the demand for the US dollar continues to riserdquo From July 1 to November 9 the central bank has sold $440 million to banks In contrast it sold $175 million and purchased $193 billion during the course of fiscal 2016-17 Some banks are now trading the US dollar with each other bypassing the inter-bank exchange rate set by the central bank meaning that they completed the transaction beyond the rate the BB official said The central bank has put a cap on the US dollar at inter-bank exchange rate plus Tk 2 on April 27 in a meeting with the Association of Bankers Bangladesh with a view to keeping the market stable Besides on Monday it warned a number of banks for such unethical practice and asked them to strictly follow the inter-bank rate to settle foreign exchange transactions among them ldquoSome banks had secretly struck up deals between themselvesrdquo said Md Arfan Ali managing director of Bank Asia adding that the banks were forced to settle transactions at the higher rate because of the scarcity of the US dollar Banks usually do not get greenbacks from the central bank which compelled them to settle the deal avoiding the inter-bank rate said Syed Mahbubur Rahman managing director of Dhaka Bank Subsequently he urged the government to take initiatives to increase export earnings and remittances to ensure steady supply of the US dollar ldquoThe current account balance posted a huge deficit in the first quarter of the fiscal year This reflects the existing foreign currency shortagerdquo he added Between the months of July and September the current account deficit stood at $179 billion in contrast to $539 million in the surplus a year earlier according to data from the central bank During the period the trade deficit widened to $365 billion from $156 billion a year earlier Source httpwwwthedailystarnetbusinessdollar-suddenly-becomes-dearer-1489096

POLICY SUPPORT NEEDED TO DIVERSIFY EXPORTS ANALYSTS The government should extend its policy support beyond the garment sector in order to diversify exports said experts yesterday ldquoWe will have to give importance to various promising sectors which are apparently not visible like the garment sector to diversify exportsrdquo said Prof Wahiduddin Mahmud an eminent economist He said the government would have to provide subsidies to small sectors mostly manufacturing industries to carry on the existing export growth momentum He was speaking at the Bangladesh Enterprise Institutes stakeholder consultation workshop on ldquoExport Diversification Challenges and Prioritiesrdquo IFIC Bank organised the programme at its headquarters in Dhaka Commerce Minister Tofail Ahmed said Bangladesh would be able to reach its export target of $60 billion by 2021 Prof Mahmud said the manufacturing sector should be focused to make the countrys growth export-led Otherwise it would not be possible to maintain the current share of exports to the GDP after two or three years Salman F Rahman vice-chairman of Beximco Group who chaired the workshop said the government will have to extend the bonded warehouse facilities to all sectors and give cash incentives to small sectors

Daily News Flash 12th November 2017

13

He said the government is cutting various policy supports including cash incentive for the garment sector ldquoBut it is not the right time to discontinue the incentivesrdquo The businessman urged the government to continue its support so that the garment sector can maintain its growth momentum Mustafizur Rahman a distinguished fellow of the Centre for Policy Dialogue said intra-garment diversification needs to continue to boost exports He said the exchange rate should be kept at the level that helps exporters The economist said pharmaceutical leather and light engineering sectors have huge opportunities to contribute to exports if they receive supports Allah Malik Kazemi change management adviser to the Bangladesh Bank said the global slowdown has affected the exporters He said the central bank keeps the interest of exporters in mind while managing the foreign exchange market Md Nojibur Rahman chairman of the National Board of Revenue said there is political commitment from the government to stand by exporters He emphasised export diversification saying the NBR also has a role to play by way of supporting small sectors Kazi M Aminul Islam executive chairman of the Bangladesh Investment Development Authority said the government would have to put more emphasis on agriculture and manufacturing sectors to diversify exports He said the garment sector grew fast riding on the policy support provided by the government in areas such as bonded warehouse exchange rate and incentives ldquoOther promising sectors should be provided the same policy support so that they can growrdquo he said Mohammad A Razzaque project leader of the BEI said it is stated that the non-garment exports will not grow because of the policy support provided to the garment sector He disagreed with the argument saying promoting export diversification and maintaining the garment sector dynamism must go hand in hand BEI President Farooq Sobhan also spoke Source httpwwwthedailystarnetbusinesspolicy-support-needed-diversify-exports-analysts-1489081

DIGITAL HUNDI SHRINKS REMITTANCE FLOW THROUGH BANKS BIBM Hundi traders have been fast transferring remittance to relatives of expatriate Bangladeshis through mobile services which have resulted in a fall in the amount of money sent through banking channels This was reflected in a research report by the Bangladesh Institute of Bank Management (BIBM) The report titled ldquoIncreasing flow of remittance through banking channel Bangladesh contextrdquo was placed at a seminar at the BIBM auditorium yesterday A six-member team led by BIBM Director Shah Md Ahsan Habib prepared the report According to the report remittance flow decreased in recent times all over the world but the fall in Bangladesh was more as it accounted for a considerably high amount of remittance generated in total The report identified several reasons for which remittance was plunging including bank branches being distant from the houses of remitters relatives The report also mentioned a lack of good behaviour on the part of bankers requirement of various documents and weekly holidays as causes BIBM Supernumerary Professor Yasin Ali said the scope of mobile banking has much increased in the last five year but banks have failed to utilise the channel He said banks have to provide remitters the opportunities which were offered by unofficial channels otherwise inflow of remittance through the banking channel would plummet

Daily News Flash 12th November 2017

14

Another BIBM Supernumerary Professor Helal Ahmed Chowdhury said the cost of sending remittance through banking channels was higher the effect of which was falling on remittance inflow Chowdhury said an initiative has to be taken to slash the cost of transferring remittance to increase the inflow through banking channels SK Sur Chowdhury deputy governor of Bangladesh Bank said remittance flow to Bangladesh declined by 1110 percent in 2016 due to lower oil prices and fiscal policy tightening in the Gulf Cooperation Council countries It is hoped that awareness programmes would encourage non-resident Bangladeshis to come forward to know the importance of channeling their money through banks he said Chowdhury also said to ease the flow in the formal channel Bangladesh Bank has reduced the security deposit requirement for exchange houses abroad to establish drawing arrangements with local banks In addition to their own bank branches and ATM booths banks are now using the branch networks of microfinance institutions and post offices as sub agents for remittance distribution Remittances are also distributed through agent banking such as that provided through Singer Bangladesh Limited outlets he said Furthermore Bangladesh Bank has established a separate ldquoFinancial Integrity and Customer Interest Protection Departmentrdquo to handle complaints and suggestions of customers or stakeholders at home and abroad to ensure smooth and hassle free services The ldquo16236rdquo hotline is to address customers hassles if any He said at the moment no bank can take more than two days in reaching remittance to designated beneficiaries Source httpwwwthedailystarnetbusinessdigital-hundi-shrinks-remittance-flow-through-banks-bibm-1489075

JOINT VENTURE TO PRODUCE 600MW IN MATARBARI

A joint venture between Japans Mitsui amp Co and a state-run Bangladeshi company is going to set up a liquefied natural gas-based power plant at Matarbari in Maheshkhali upazila to produce 600 megawatts of electricity Coal Power Generation Company Bangladesh Ltd yesterday signed a primary agreement with Mitsui amp Co to this effect in Dhaka on Wednesday according to a statement of the power and energy ministry The companies will have 50-50 ownership in the joint venture that will complete the project by 2021 The government has taken initiatives to import a huge amount of LNG from next year Both land-based and floating LNG terminals will be set up The government has approved two floating LNG terminals each of which will supply 500 million cubic feet of gas per day In July state-run Petrobangla and US-based Excelerate Energy signed the final deals to set up Bangladeshs first LNG terminal in Maheshkhali which will supply gas to the national grid from early 2018 The government also awarded Summit Group the work to set up the countrys first floating LNG terminal also in Maheshkhali This one is due for commissioning by next October Source httpwwwthedailystarnetbusinessjoint-venture-produce-600mw-matarbari-1489069

Daily News Flash 12th November 2017

15

EXPORTS TO EU STATES BUT GERMANY POST ENCOURAGING GROWTH

Bangladeshrsquos export earnings from European countries except Germany registered a significant growth in the July-October period of this financial year 2017-18 riding on an excellent performance of readymade garment products According to the Export Promotion Bureau data exports to major European countries registered double digit growth in the four months of FY18 while the RMG export to Germany fell in the period compared with that in the same period of last fiscal year The EPB data showed that Bangladesh suffered a negative export growth in two promising markets mdash Japan and China mdash in the July-October period of FY18 Exporters said that earnings growth in the EU markets increased in recent months as the euro appreciated against the dollar They also said that buyers and brands cut import orders from Bangladesh for their Chinese stores that caused the negative growth Export earnings from the UK the second largest export destination for Bangladesh in the EU grew by 2084 per cent to $134 billion in the four months of FY18 from $111 billion in the same period of FY17 Earnings from apparel products fetched $125 billion with 2227 per cent growth in the period Export earnings from Spain in July-October in FY18 grew by 2581 per cent to $80102 million from $63670 million in the same period of FY17 Export earnings from the Netherlands rose by 3416 per cent to $40108 million in the four months of FY18 Bangladesh earned $58097 million from France with 270 per cent growth and $46374 million from Italy with 1206 per cent growth Exports to Germany the second largest export destination for Bangladesh in the July-October period of FY18 stood at $186 billion the same amount earned in the July-October period of FY17 Anwar-ul-Alam Chowdhury Parvez former president of the Bangladesh Garment Manufacturers and Exporters Association said exports depend on season and the earnings from Germany would increase from November RMG export earnings fell by 039 per cent to $173 billion from $174 billion in the market data showed lsquoWe have to wait to identify the reasons for the stagnancy of growth in the German market Hopefully the export would rebound in the market in the coming monthsrsquo Md Fazlul Haqe former president of the Bangladesh Knitwear Manufacturers and Exporters Association told New Age on Saturday

Daily News Flash 12th November 2017

16

Export earnings from the US the largest destination for Bangladeshrsquos exports in the July-October period of FY18 grew by 228 per cent to $187 billion from $183 billion in the same period of FY17 Apparel export to the market grew by 244 per cent to $168 billion from $164 billion The EPB data showed that the countryrsquos export earnings from Japan in the July-October period of FY18 fell by 394 per cent to $33390 million from $34760 million in the same period of FY17 Export earnings from China in the four months of the FY18 decreased by 2242 per cent to $22475 million from $28971 million in the corresponding period of last fiscal year Parvez said that the domestic consumption in China slightly decreased in recent times and global retailers also cut import orders from Bangladesh for their Chinese stores due to congestions in the Chittagong port lsquoWe are losing many orders from global brands as we have been failing to meet lead time due to the problem in the portrsquo he said Source httpwwwnewagebdnetarticle28200exports-to-eu-states-but-germany-post-encouraging-growth

REHAB LEADERS DEMAND CUT IN TAXES Realtors on Saturday urged the government to cut tax rates at different levels of the housing sector to give a much-needed boost to the sector They also requested the government not to raise question over the source of the minimum paid up capital (Tk 1 crore) a real estate company requires to be a member of the Real Estate and Housing Association of Bangladesh REHAB leaders made the requests at a joint meeting with the National Board of Revenue held in a city hotel on the day NBR chairman Nojibur Rahman attended the meeting as chief guest while REHAB president Alamgir Shamsul Alamin senior vice-president Nurun Nabi Chowdhury Shaon and vice-president Liakat Ali Bhuiyan were also present among others Alamgir said that the REHAB made it mandatory for its member companies to have Tk 1 crore paid up capital and he requested the government not raise question over that money The government earlier made it mandatory for all developer companies to be REHAB members Alamgir also urged the government to form a re-financing fund worth Tk 20000 crore under Bangladesh Bank to provide low-interest and long-term loans to the potential apartment buyers He demanded apartment registration fee to be reduced to 65 per cent from the existing 155 per cent mentioning that other SAARC countries maintained it at 4-7 per cent Alamgir said that the government was losing huge revenue due to the high apartment registration fee as buyers were showing unwillingness to register their apartments at high cost Nurun Nabi urged the government to meet the REHABrsquos longstanding demands to save the housing sector from ruination He also called for reducing corporate tax of non-public traded companies to 20 per cent from the existing 35 per cent He sought a cut in the tax on signing money to 75 per cent from the existing 15 per cent Alamgir also appealed for reducing tax rate on apartment resale to 3 per cent He also sought total 15 per cent tax and VAT on professional services like engineering and architecture from the current 27 per cent Nojibur said that an NBR-REHAB joint working group would be formed to work together for the betterment of the housing sector He also requested REHAB leaders to provide opinions on the income tax law that would be amended soon He assured them that the NBR would consider their demands Source httpwwwnewagebdnetarticle28201rehab-leaders-demand-cut-in-taxes

Daily News Flash 12th November 2017

17

BrsquoDESH BHUTAN START TRADE DATA SHARING IN JAN Bangladesh and Bhutan have decided to start exchanging export-import data from January 1 to verify trade documents to check duty evasion and other customs-related offences through misdeclarations of goods and prices during trades between the two countries The data will be mailed in the first week of the subsequent month according to the decision taken at the 3rd Bangladesh-Bhutan joint group of customs meeting held in November 7-8 in Thimphu the capital of the Himalayan kingdom Initially both sides will exchange export data of three commodities and gradually the scope will be expanded to all the export items Delegations from the both sides also agreed to boost the existing trade volume between the two countries and improve infrastructure at land customs stations of Bangladesh and Bhutan to facilitate border trade Bhutan informed the meeting that they were establishing a mini dry port at Phuentsholing which would boost border trade between the countries National Board of Revenue member (customs audit modernisation and international trade) Khondaker Muhammad Aminur Rahman and Bhutanrsquos Department of Revenue and Customs director Yonten Namgyel led the respective delegations at the meeting Following a request from Bangladesh Bhutan agreed to put necessary information including country of origin name and address business identification number and tax identification number of importer on the export packages as per the current Import Policy Order of Bangladesh Both sides also agreed to hold ground-level customs meetings twice a year alternately at Phuentsholing of Bhutan and Burimari of Bangladesh to resolve customs-related problems smoothly The two countries also decided to raise the issue of improving the infrastructure at Changrabandha (Indian LCS opposite to Burimari of Bangladesh) and Jaigaon (Indian LCS opposite to Bhutanrsquos Phuentsholing) to ensure smooth border trade between the countries Bangladesh also requested the landlocked kingdom to use Nakugaon-Dalu-Gelephu route for their imports and exports as Bangladesh has decided to upgrade Nakugaon LCS as a trade hub for border trade with India and Bhutan Bangladesh side also underscored the potentials of use of riverine routes as mode of transport for export and import of goods Bhutan may also get duty-free market access for limestone powder export to Bangladesh according to the decision of the meeting Mohammad Ehteshamul Hoque NBR first secretary of customs modernisation and international trade on Saturday told New Age that both countries had resolved some small-scale problems to facilitate bilateral trade and committed to further enhancing border trade The planned ground-level meeting of customs officials will also play a role in identifying and resolving bottlenecks in trade between the two nations he said According to the NBR data Bangladesh exported products worth $322 million to Bhutan in the fiscal year 2016-2017 while it imported from the country products worth $3315 million Bangladeshrsquos highest export earnings from the country were $913 million posted in the FY 2011-2012 and the earnings have been declining with fluctuations over the years Bangladeshrsquos major export items to Bhutan are bakery items fruit and vegetable juices tableware kitchenware and toiletry articles of plastics non-alcoholic beverages menrsquos singlets briefs pyjamas medicament mixtures rice aluminium structure and few garment items On the other hand the country imports mainly citrus fruits stone granite dolomite limestone ferro-alloys apple and gypsum from Bhutan Source httpwwwnewagebdnetarticle28202bdesh-bhutan-start-trade-data-sharing-in-jan

Daily News Flash 12th November 2017

18

TAX FAIRS AT ALL ZONES BEGIN TODAY Income tax fair begins today at all income tax zones across the country to provide taxpayers with services in a similar hassle-free atmosphere they got at recently-concluded countrywide weeklong tax fair National Board of Revenue chairman Md Nojibur Rahman on Saturday in a statement said that the decentralised fair at the zones with similar facilities like the weeklong national tax fair would continue till November 30 the last day of income tax returns submission Tax officials will also start issuing income tax ID cards from November 20 to the taxpayers under each tax zone in Dhaka Issuance of ID cards will continue till November 28 There are 31 income tax zones across the country including 15 in Dhaka and four in Chittagong Officials of the revenue board said that the NBR took the decision so that all taxpayers could file their tax returns without any hassle with maximum support from tax officials Initially the NBR planned to issue ID card from November 9 which was deferred due to lack of preparation Source httpwwwnewagebdnetarticle28203tax-fairs-at-all-zones-begin-today

BTRC LIKELY TO LOSE RIGHTS OVER UNUSED BALANCE IN BLOCKED SIMS Mobile phone operators are likely to get relief from paying the government the unused balance in the SIM cards that would be blocked by the telecom regulator for various reasons especially for illegal voice-over internet protocol calls Mobile operators however will have to return the unused balance to its owner if claimed said officials of Bangladesh Telecommunication Regulatory Commission They said that a proposed amendment to the 4G licencing guidelines that would be passed by the telecom regulator in the upcoming commission meeting following instruction from prime ministerrsquos ICT advisor and posts and telecommunication ministry The instruction was made based on a meeting between the mobile phone operators and the government high officials on the proposed 4G licencing guidelines they said As per the BTRC approved draft 4G licencing guidelines that would be revised it was mandatory for all the operators to pay the BTRC the remaining balance amount of the identified illegal prepaid VoIP callers and unsuccessful or fake SIM registration of service connection fund at the time of deactivating them It was also mentioned in the guidelines drafted earlier that there would not be any rights of the mobile network operators over the forfeited account balance of the illegal VoIP callers Whereas it was also mandatory for the operators to pay the remaining balance of such SIM cards within ten days of the following month In case of deactivation of SIM cards for illegal VoIP calls mobile operators would keep the remaining balance while operators would have to pay the balance to its owner if claimed for deactivation of SIM cards for any other reason Such specification about the unused balance would help the operators while the government would lose its rights over the forfeited fund BTRC officials said Such initiative might foil another BTRC move to take stand against the mobile phone operators for non-payment of unused balance in the SIM cards which were blocked by the telecom regulator for various reasons Countryrsquos leading mobile phone operator Grameenphone in February this year deposited Tk 733 crore to the telecom regulator against the unused balance in the connections that were blocked between 2008 and 2014

Daily News Flash 12th November 2017

19

While other operatorsmdash Banglalink Robi Airtel Citycell and Teletalk mdash were yet to pay any fund to the commission in this regard Airtel formerly known as Warid Telecom has already merged with Robi in November 2016 Apart from the unused balance issued the government acknowledged almost all the issues raised by the mobile phone operators about the 4G licencing guidelines BTRC officials said Source httpwwwnewagebdnetarticle28107btrc-likely-to-lose-rights-over-unused-balance-in-blocked-sims

BONDED WAREHOUSE BACK-TO-BACK LC SHOULD BE OPEN TO ALL EXPORTERS Bonded warehouse facility and back-to-back letter of credit facility should be open for all for the export of all sorts of goods to diversify export products said experts and businesses at a workshop on Thursday They came up with the observation while speaking at a stakeholdersrsquo consultation workshop on lsquoExport Diversification Challenges and Prioritiesrsquo organised by Bangladesh Enterprise Institute at IFIC Tower in Dhaka Commonwealth Secretariat adviser and head of international trade and regional cooperation Section Mohammad Razzaque presented a keynote paper on lsquoRevitalising Bangladeshrsquos export trade Policy issues for growth acceleration and diversificationrsquo Razzaque in his presentation said that there should be alternatives of diversifying export destinations and products to achieve $60 billion export target by the year 2021 Although the country has continued to achieve more than 6 per cent growth export to GDP ratio has declined a bit in last couple of years and to increase the ratio for sustaining economic growth there was no alternative to increasing exports he said To facilitate export diversification and ensure equal facility treatment among the exporters all the sectors should get bonded warehouse facility as well as back-to-back letter of credit facility that helped the countryrsquos readymade garment sector to grow Razzaque said Salman F Rahman private sector development advisor to prime minister also said that the bonded warehouse and back-to-back LC facilities should be opened for all to support other exporters Suggesting for the continuation of existing facility for the RMG sector Salman also president of BEI said lsquoWe need product diversification for the economic growth but not at the cost of RMG sectorrsquo Former Dhaka University economics department chairman Wahiduddin Mahmud said that the gov ernment should set a broad category and announce subsidy and cash incentives for longer period to help the sectors to contribute to exports as well as economic growth Speaking about the exchange rate issue the eminent economist also said lsquoAs balance of payment has turned negative the government should not try to control the exchange rate anymorersquo Centre for Policy Dialogue distinguished fellow Mustafizur Rahman said lsquoApart from diversification of other products intra-RMG sector product diversification is also important as we have created a strong foothold in the sector and itrsquos a one trillion dollar marketrsquo Speaking about the repeated change in policy Federation of Bangladesh Chambers of Commerce and Industry president Shafiul Islam Mohiuddin said lsquoElectricity price has been doubled with just a so-called hearing and that led our foreign partners to backtrackrsquo Speaking about the 070 per cent source tax imposed on apparel sector commerce minister Tofail Ahmed said rsquoAlthough we cannot do a lot for the sector but such tax should not remain on the sectorrsquo Source httpwwwnewagebdnetarticle28039bonded-warehouse-back-to-back-lc-should-be-open-to-all-exporters

Daily News Flash 12th November 2017

20

GOVT TO SPEND FUND FOR TOBACCO CONTROL MEASURES CAMPAIGNS The government has finally framed a policy on the use of health development surcharge it imposed on tobacco products three and half years ago The health and family welfare ministry on Wednesday issued the gazette notification of Health Development Surcharge Management Policy-2017 identifying 16 sectors for spending the fund on The fund will mainly be used for limiting the demand for and supply of tobacco products financing tobacco control activities conducting researches and campaigns and operating Tobacco Tax Cell of the National Board of Revenue The revenue board in July 2014 imposed 1 per cent surcharge on all tobacco products both locally produced and imported ones aiming to spend the fund for implementing the programmes to control and discourage the use of tobacco products and prevent tobacco-related diseases In the last three fiscal years (2014-15 2015-16 and 2016-17) the tax authority collected around Tk 900 crore as health development surcharge from tobacco products including cigarette bidi gul zarda and other smoking and chewing tobacco products But the fund remains idle as the health ministry has not got the access to the fund over the years as there was no policy on how to the money be used Officials of the revenue board said that formulation of the policy had paved the way for utilising the fund for tobacco control and prevention of tobacco-related diseases They said that every year around Tk 300 crore would be added to the fund According to the policy the collected surcharge will be used for financing national tobacco control activities operation of the NTCC under the ministry campaigns in the mass media on health hazards of tobacco products and tobacco control and providing trainings to stakeholders The fund will also be used for setting up National Quitline a hotline to help people quit tobacco consumption and providing financial and technical support to organisations for implementation of programmes to prevent tobacco-related non-communicable diseases Programmes will also be taken to create awareness among farmers against tobacco cultivation and motivate them to cultivate alternative crops according to the policy According to the policy a Health Development Surcharge Management Committee headed by the health minister will supervise the proper use of the fund The National Tobacco Control Cell will provide secretarial support to the committee Fund from other sources such as possible imposition of any surcharge on products hazardous to health in future and donations from local and foreign sources will also be added to the fund it said The expenditures from the fund will be audited in line with the methodology followed for the other government agencies it said According to the Global Adult Tobacco Survey-2009 some 413 crore people or 43 per cent of the total population of Bangladesh consume tobacco products On the other hand 430 crore people are victims of indirect smoking According to the World Health Organisationrsquos 2004 data 57000 people die every year in Bangladesh suffering from tobacco-related diseases The government has taken an initiative to make the country smoking free by 2040 Source httpwwwnewagebdnetarticle28040govt-to-spend-fund-for-tobacco-control-measures-campaigns

STUDY BLAMES MOBILE HUNDI FOR FALLING REMITTANCES THRU BANKING CHANNEL A study of Bangladesh Institute of Bank Management on Thursday blamed Hundi through mobile financial services including bKash Rocket mCash and UCash for decreasing remittance through banking channel

Daily News Flash 12th November 2017

21

The study conducted by a six-member team identified distance of bank branches delay in receiving money misconduct by bankers submission of various documents weekly holidays of banks and illegal immigrants as the reasons for increasing remittance inflow through mobile Hundi The six-member team headed by BIBM director Shah Md Ahsan Habib presented the study at the seminar presided over by BIBM director general Toufic Ahmad Choudhury held in the auditorium of the institute in the city lsquoIn Bangladesh remittances declined by an estimated 111 per cent in 2016 in the face of lower oil prices and fiscal tightening in the GCC countries Among other reasons use of Illegal channel by the expatriates is doing harm to our countryrsquo Bangladesh Bank deputy governor Shitangshu Kumar Sur Chowdhury said He said that it would not be possible to stop Hundi totally but BB is working to check the transactions through the illegal channel To ease the formal channel BB has reduced the security deposit requirement for the exchange houses abroad to make arrangements for remittances with local banks Shitangshu said The BB deputy governor hoped that Non-Resident Bangladeshis would come forward to know the importance of their money to be sent through banking channels BB former executive director Yasin Ali said that national economy was being hindered due to remittance inflow through illegal channels He suggested using mobile banking facilities for remittance inflow saying that the area of mobile banking expanded many fold in last five years Helal Ahmed Chowdhury former managing director of Pubali Bank suggested bankers to be courteous with bank customers Source httpwwwnewagebdnetarticle28041study-blames-mobile-hundi-for-falling-remittances-thru-banking-channel

POLICY SUPPORT MUST TO DIVERSIFY EXPORT BASKET Speakers on Thursday said that in order to diversify the countryrsquos export basket export-oriented businesses should be given the policy support that has proved highly successful in bringing vibrancy to the countryrsquos RMG sector They were speaking at a workshop styled ldquoExport Diversification Challenges and Prioritiesrdquo organised by Bangladesh Enterprise Institute (BEI) in the auditorium of International Finance Investment and Commerce Bank in Dhaka Dr Mohammad A Razzaque former head of International Trade Policy at Commonwealth Secretariat in London presented a keynote paper in the programme chaired by Salman F Rahman private sector development advisor to Awami League President and Prime Minister Sheikh Hasina Skill development measures may also play a vital part in this regard Salman said export diversification would be possible only when adequate and appropriate policy support is provided to all export-oriented industries Dr Razzaque in his keynote paper suggested revamping and deepening policy support such as providing cash assistance and bonded warehouse facilities to all such industries to improve their export competitiveness He also highlighted the need for further expanding Bangladeshrsquos export basket as its penetration into global export markets in the last decade was very insignificant Eminent economist Prof Wahiduddin Mahmud said ldquoIn addition to providing subsidies and cash incentives to thriving and promising sectors on a long-term basis the government should take measures to strengthen the countryrsquos manufacturing baserdquo

Daily News Flash 12th November 2017

22

Shafiul Islam Mohiuddin president of the Federation of Bangladesh Chambers of Commerce and Industry said the governmentrsquos support is a must to create a strong manufacturing base for export diversification ldquoSkill development measures may also play a vital part in this regardrdquo Addressing the event as the chief guest Commerce Minister Tofail Ahmed said export diversification depends on businessmenrsquos initiatives He however pledged all necessary support from the government for export diversification to meet the countryrsquos $60 billion export target by 2021 BEI President Farooq Sobhan emphasised engaging the private sector in relevant policy discourses to achieve the target ldquoA private sector-oriented policy mechanism is very important as rapid changes are taking place in the global trade landscape Understanding implications and generating timely policy responses to unfolding developments will be meaningful only when the private sector is able to benefit from themrdquo said Sobhan Among others Mustafizur Rahman a fellow at the Centre for Policy Dialogue Kazi M Aminul Islam executive chairman of Bangladesh Investment Development Authority Bijoy Bhattacharjee vice chairman of Bangladesh Export Promotion Bureau and Md Nojibur Rahman chairman of the National Board of Revenue also spoke Source httpwwwdhakatribunecombusinesseconomy20171109policy-support-must-diversify-export-basket

BANKS LACK REMEDIAL STRATEGY WHILE NPL RISES WORRYINGLY Some of Bangladeshs banks dont have in-depth look into the problem of spiraling non-performing loans (NPL) while many others try to frame remedial strategies perfunctorily Such observations came out from studies on banking as well as financial sector at large as the NPL surge worries many quarters One finding shows that around 11 per cent of the countrys banks did not have an in-depth look into the issue of NPLs in the past year despite a growing concern over the problem in the financial arena The recent industry-wide survey also revealed that around 30 per cent of the countrys banks had not assessed their past NPL-reduction strategies at all while 36 per cent did so only on an ad-hoc basis The findings came out from the survey of the Chief Risk Officers at the banks on issues concerning NPL strategy in their institutions Leading banking research and training institution Bangladesh Institute of Bank Management (BIBM) conducted the study The research findings come at a time when the ballooning NPLs is becoming a major issue with the countrys banking industry and also triggering concerns and criticisms As per the central bank data the volume of NPLs had increased by more than 21 per cent to Tk 62172 billion by the end of 2016 swelling from Tk 51371 billion a year before The findings are genuinely surprising as we are struggling to find a bank for which NPL is not an issue in some capacity said Sazib Azad Senior Advisor of BIBM who led the research initiative Furthermore if the bank itself is immune to the impact of NPL even then they need to consider whether they are immune from structural or market-level impacts as well he told the FE However relevant survey results show the potential lack of such considerations as only 10 per cent of bank CROs taking part in the survey said that their banks are addressing potential dependence on market assessment and strategy What is more surprising is that the NPL strategies of around 62 per cent of the banks are not signed off by the boards the survey found

Daily News Flash 12th November 2017

23

This is quite striking because given the severity of the non-performing-loan issue the NPL strategy should be signed off by the boards Mr Azad said adding Boards are not only accountable for the health of the banks but are also in position to release resources to get to grips with the issue In addition the survey result also revealed 31 per cent of the banks not communicating their NPL strategy across the bank NPL as an issue needs to be addressed from ground up But the results show that this is not happening at our banks said an expert who was involved with research Meanwhile 25 per cent of the CROs said they were not tracking the implementation and effectiveness of NPL strategy in their banks- something which according to experts is a cause of concern Given how critical an issue NPL exposure is we would expect every CRO to track how the NPL strategy is being implemented its effectiveness and how to improve matters to the Board Risk Committee and the Board the banking experts said Meanwhile the survey results also found that although 94 per cent of the banks had stress-tested their balance sheet in terms of NPL drag this figure drops to 56 per cent while considering the impact to and from the wider economy market and structural aspects It seems that 33 per cent of the banks do not formally consider this aspect with a further 11 per cent not looking at this dimension at all the researchers said Experts also noted that with Basel 3 farther putting capital under pressure sensible banks should dynamically model the impact of key risks to their capital However the survey results show 17 per cent of the banks are not doing so while 31 per cent doing it in a limited manner Asked whether their banks risk-appetite-statement metrics reflected their NPL strategy 36 per cent of the respondents said they do so in a limited capacity while a further 80 per cent are not doing that at all It was also found that 25 per cent of the C-Suites have specific NPL-strategy-related targets while 31 per cent of the CROs have the same Meanwhile when asked whether they consider their NPL strategy to be embedded just over half of them or 52 per cent of the survey participants said Yes This according to experts is clearly not fit for purpose given the severity of the NPL issue facing the banking sector The first step in looking into the NPL issue is to assess internal capabilities to effectively manage NPLs Next external conditions or operating environment needs to be considered Finally the capital implications of the NPL strategy need to be analyzed said Sajib Azad The findings of the survey will be shared with the stakeholders during the next CRO forum of BIBM expected to take place next month where the issue of Risk Culture will also figure high The biggest reason for the swelling of NPL in our banking sector is a lack of good governance To check the ballooning of NPL the internal governance of the banks has to be strengthened above all Director-General of BIBM Toufic Ahmad Choudhury said Meanwhile the survey also found banks tending to consider time-horizon portfolio segment and exposure-level-based targets to be broadly equally important to their NPL strategy In terms of options preferred for reducing NPL banks consider change of exposure type to be most effective (36 per cent) followed by active portfolio reductions (33 per cent) and hold forbearance (31 pe rcent) Source httptodaythefinancialexpresscombdfirst-pagebanks-lack-remedial-strategy-while-npl-rises-worryingly-1510417700

GOVT SEEKS US$183B UNDER 39TH JAPANESE ODA PACKAGE The government has sought around US$183 billion worth of assistance from Japan for bankrolling six development projects officials said Saturday

Daily News Flash 12th November 2017

24

Officials at the Ministry of Finance (MoF) said they have already discussed the issue with the Japan International Cooperation Agency (JICA) We are hopeful of receiving funds under its upcoming 39th Official Development Assistance (ODA) package to finance six development projects a senior MoF official told the FE He said a JICA mission in September-October last completed its visit to Bangladesh to explore the possibilities of financing the proposed projects We are hopeful of signing the 39th ODA package with JICA within a couple of months he said After signing the loan deal the largest bilateral donor will start disbursement of funds from the proposed $183 billion aid package for the six development projects the MoF official added The proposed six projects under the 39th ODA package are Matarbari port development Dhaka MRT line-6 construction (phase-III) Dhaka MRT line -5 feasibility study Matarbari ultra super critical coal-fired power plant (phase-IV) Jamuna Railway Bridge construction and Health service strengthening project A senior official of Economic Relations Division said the proposed 39th ODA package will be very useful for Bangladesh as it will be utilised to develop the Matarbari port ongoing Matarbari power plant project conduct feasibility study and detailed design of the MRT line-5 in Dhaka and to construct railway bridge over the River Jamuna All of these projects are very important for the country to ensure smooth transportation and uninterrupted power supply he added Japan is the largest bilateral development partner of Bangladesh Over last 5-6 years it has enhanced its aid with confirmation of more than US$10 billion worth of funds under each of the aid packages In the last 38th ODA package signed in June 2017 JICA provided Yen 178223 billion ($164 billion) for utilising in six development projects on transport infrastructure power and water sector improvement works In June 2016 Japan signed the 37th ODA deal worth $150 billion (17354 billion Japanese Yen) with Bangladesh and in December 2015 it inked the 36th ODA package confirming $12 billion concessional loan for six development projects Under the last 38th ODA package JICA offered $700 million (Yen 76825 billion) for Hazrat Shahjalal International Airport Expansion project $480 million (Yen 5273 billion) for 2nd Kanchpur Meghna and Gumti bridges construction $50 million (Yen 5593 billion) for Dhaka Mass Rapid Transit development project (Line 1) $100 million (Yen 10745 billion) for Matarbari ultra super critical coal-fired power plant $190 million (Yen 20477 billion) for Dhaka underground substation construction project and $110 million (Yen 11853 billion) loan for small scale water resources development project Japan has so far provided Bangladesh with nearly US$12 billion in assistance since the financial year (FY) 1971-72 Source httptodaythefinancialexpresscombdfirst-pagegovt-seeks-us183b-under-39th-japanese-oda-package-1510417739

SUMMIT GROUP ENTITIES TO ISSUE PREFERENCE SHARES WORTH $1250M A subscription closing ceremony to raise capital through issuance of preference shares worth BDT 1000 million (USD 1250 million) for Summit Barisal Power Limited amp Summit Narayanganj Power Unit II Limited was held recently at Pan Pacific Sonargaon Dhaka said a statement LankaBangla Finance Limited acted as the Mandated Arranger LankaBangla Investments Limited acted as the Issue Manager and The City Bank Limited acted as the Agent Account Bank amp Custodian Bank to raise the fund In the event Mr Lt Gen (Retd) Engr Abdul Wadud Managing Director of Summit Barisal Power Limited amp Summit Narayanganj Power Unit II Limited Mr Khwaja Shahriar Managing Director amp

Daily News Flash 12th November 2017

25

CEO of LankaBangla Finance Limited Mr Mohammed Nasir Uddin Chowdhury Managing Director of LankaBangla Capital Market Operations Mr Mominul Islam Managing Director amp CEO of IPDC Finance Limited Mr R Q M Forkan Managing Director amp CEO of Bangladesh Commerce Bank Limited Mr Faruq M Ahmed Additional Managing Director of Trust Bank Limited Mr Akthar Hamid Khan Deputy Managing Director of Pubali Bank Limited Mr Arif Hasan Khan Vice President of Modhumoti Bank Limited Mr Mohammad Ibrahim Khalil FCA Vice President amp CFO of Bank Asia Limited and Mr Mahbub Jamil Vice President and Head of Structured Finance of The City Bank Limited along with other senior officials from the companies were present Source httptodaythefinancialexpresscombdstock-corporatesummit-group-entities-to-issue-preference-shares-worth-1250m-1510411878

BMBA URGES MUHITH TO EXEMPT INVESTMENTS BY MF SPONSORS Bangladesh Merchant Bankers Association (BMBA) has urged the finance minister to exclude some components including sponsors investments in mutual funds (MFs) from the banks exposure to the capital market It made the request for ensuring an environment conducive to gradual development of the capital market according to a proposal submitted to Finance Minister AMA Muhith last week The BMBA said the long-term or strategic investments needed to be excluded while calculating the exposure as these investments were not intended for frequent trading Non-convertible preference shares and non-listed securities also need to be excluded from the capital market exposure as it will never influence the capital market volatility it said in a letter to the minister According to the letter the MFs are passive investments where investors themselves are not involved in investment decision making and such fund portfolios are mostly of long-term nature than frequent trading On the other hand the sponsors of the MFs need to hold 10 per cent of the investment until liquidation of the fund So considering the fact the sponsors portions in MFs need to be excluded from the banks capital exposure said the BMBA proposal As per the Banking Act 1991 it said reporting requirement is on solo basis but the central bank has introduced consolidated calculation which is of dual effectdouble counting in the market exposure This kind of restrictive measure creates panic situation in the market and may hinder the potentials and prospects of the capital market as a whole the BMBA said It also said that this kind of practice needed to be stopped as such requirements and reporting practice would further squeeze the market and that the investors would lose their interest The BMBA said some organisations have invested on strategic purpose and were holding positions in the board and their exposure increased with rising the market price of MF units On the other hand in compliance with the securities rules they are unable to sell shares to reduce exposure the BMBA said terming the situation complicated In its letter the BMBA said that the capital market exposure of some banks and financial institutions increased without fresh investments following the upward trend of the market price as the exposure is calculated on the basis of market price If the banks need to go for selling off their excess exposure this will create unnecessary selling pressure on the market said the BMBA The association requested the finance minister to consider their proposal to facilitate the growth of the capital market by its own strength and prospect Source httptodaythefinancialexpresscombdstock-corporatebmba-urges-muhith-to-exempt-investments-by-mf-sponsors-1510411950

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ATIUR STRESSES ROLE OF REGULATORS IN DIGITAL FINANCIAL INCLUSION Former Bangladesh Bank Governor Dr Atiur Rahman chairs a session at the 5th Biennial Competition Regulation and Development Conference at Jaipur in India on Thursday Success of digital financial inclusion depends on the prudent role of the regulating bodies to a great extent And the recent progress in Bangladesh in this regard is a good example for the rest of the world to follow said Dr Atiur Rahman former governor of Bangladesh Bank says a statement He was chairing a session at the 5th Biennial Competition Regulation and Development Conference at Jaipur India on Thursday The three-day conference is being hosted by CUTS International and OECD Speakers of the session included Ravinder S Aurora Senior Vice President of Mastercard David Ongolo Kenyan Competition Authority and Dr A K EnamulHaque Professor of East West University Dhaka Many developing countries survived and even thrived during the last global financial crisis because they chose to follow a broad-based financial inclusion strategy And digital solutions played a crucial role in this financial inclusion drive said Dr Rahman He added that service providers must focus on reaching out to the customers in the rural socio-economic conditions Dr Rahman said that experience from Bangladesh can answer many of the burning questions regarding digital financial inclusion The central bank of the country has facilitated bank-led digitisation drive Be it Mobile Financial Service or be it Agent Banking the Bangladesh Bank has encouraged traditional players (ie the commercial banks) to lead the way And it has been proven to be very successful He also said that the world is witnessing only the beginning of the digital finance revolution Hence we must learn from all these experiments share our experiences and know-hows Only then we can work towards shaping global standards and practices Dr Rahman finally asked all central banks to be more proactive and collaborative with other stakeholders including non-traditional financial service providers to facilitate orderly development of digital financial inclusion so that consumers interests are better protected The grievance redressal mechanism developed in Bangladesh Bank with infusion of state of the art technology to gain trust of the customers in financial inclusion was also discussed widely in the session The panelists highly appreciated Bangladeshs regulatory move with public interest in mind using latest technology for replicable digital financial inclusion Source httptodaythefinancialexpresscombdtrade-marketatiur-stresses-role-of-regulators-in-digital-financial-inclusion-1510416319

FAO FEARS NEGATIVE BD FOOD OUTPUT GROWTH ON FLOODING Recent flooding has dampened the outlook for Bangladesh a likely third successive season of little or negative food production growth mainly rice reports UNB quoting FAO Barring major setbacks production recoveries could instead permit Bangladesh and Sri Lanka to slightly lower their 2018 imports to 11 million and 450 000 tonnes respectively according to the latest Food Outlook published by the UN Food and Agriculture Organisation (FAO) Among other rice importers Bangladesh Iraq Nigeria and the Philippines are all similarly predicted to replenish their inventories according to the report a copy of which obtained by the news agency These gains are however likely to be offset by stock reductions in the Republic of Korea Madagascar Sri Lanka and the United Republic of Tanzania all linked to output shortfalls Although the use of rice as animal feed is being sustained by the release of supplies from government granaries in Japan the Republic of Korea and Thailand more affordable feedstuffs are expected to displace rice in most other countries especially in Bangladesh China (Mainland) and Vietnam

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Since the previous Food Outlook report a series of unfavourable climate-related events have affected main paddy crops in the Northern Hemisphere which have now reached the harvesting stage This has been the case in Asia where unlike 2016 the critical Northern Hemisphere summer months were characterised by mixed growing conditions that inhibited planting expansions As a result FAOs latest forecast of world rice production in 2017 points to a broadly stable output level of 5008 million tonnes Production in Asia is now forecast to fall 550 000 tonnes below the 2016 bumper harvest to 4525 million tonnes The UN agriculture agency has said the cost of importing food is rising in 2017 driven by increased international demand for most food stuffs as well as higher freight charges The cost of importing food is forecast to rise six per cent in 2017 to $1413 trillion making it the second highest bill on record while food commodity prices have been generally stable according to the latest Food Outlook that expressed concern about the economic and social impact of this trend on poor countries Although weather disruptions are set to stall production growth this season global rice supplies are still forecast to exceed utilisation enabling a small expansion of world rice inventories Global trade is expected to rise only modestly in 2018 after staging an 8 per cent recovery in 2017 The food import bills are set to increase by double-digit rates for least-developed countries (LDCs) and low-income food-deficit countries Aromatic rice varieties have risen eight times faster than the FAO All Rice Index which is up four per cent on the year However the higher import costs come at a time when inventories are robust harvest forecasts are strong and food commodity markets remain well supplied The export of tropical fruits is promising for poverty relief and rural development as almost all production takes place in developing countries The export volumes of mango pineapple avocado and papayas are on course to achieve a total combined value of $10 billion this year according to the Food Outlook Source httptodaythefinancialexpresscombdfirst-pagefao-fears-negative-bd-food-output-growth-on-flooding-1510336161date=11-11-2017

STOCKS NUDGE HIGHER AS BANK TELECOM ISSUES SURGE Stocks extended the winning streak for the two consecutive weeks that ended Thursday as enthusiastic investors continued their buying appetite on bank and telecommunication issues Market operators said the positive momentum in some large-cap issues especially from banking telecom pharmaceuticals and food amp allied sectors helped the bourse to stay upbeat The banking sector posted the highest return of 445 per cent as 27 out of 30 listed banks ticked higher Four banks gained more than 10 per cent each The telecom sector also surged 342 per cent as Grameenphone the countrys largest market-cap listed companys shares price jumped 40 per cent to close at Tk 45690 each The market extended the winning streak riding on heavyweight bank and telecom issues said an analyst at a leading brokerage firm The week featured five trading sessions as usual Of them first session saw marginal correction while last four closed higher Week-on-week DSEX the prime index of the Dhaka Stock Exchange (DSE) jacked up by 9454 points or 155 per cent to finish at 6193 The two other indices -- the DS30 index and the DSE Shariah Index (DSES) - also closed higher at 2244 and 1341 points

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Both the indices added 4264 points and 1218 points respectively During the week banking pharmaceuticals and telecommunication sector stocks contributed more to keep the market up commented City Bank Capital Resources a merchant bank in its weekly analysis The port city bourse Chittagong Stock Exchange (CSE) also ended higher The CSCX advanced 180 points or 156 per cent to finish at 11618 International Leasing Securities a stockbroker noted that the market observed an upbeat vibe throughout the week riding on the news of soaring of net foreign investment in the capital market in the first 10 months of 2017 compared to the same period of last year Net position of foreign portfolio with the DSE stood at Tk 1623 billion in January-October compared to Tk 80 billion in the same period a year ago However some investors were reshuffling their portfolios after observing the year-end corporate declarations and first quarter earning disclosures the stockbroker added According to EBL Securities The market witnessed an upbeat tune throughout the week riding on regained confidence among the market participants The stockbroker noted that preferable year-end and quarter-end earnings declarations by several companies helped them to remain positive about market The total turnover for the week amounted to Tk 3591 billion on the DSE which was Tk 3027 billion in the week before The daily turnover averaged Tk 718 billion which was nearly 19 per cent higher than the previous weeks average of Tk 605 billion Block trade accounted for 16 per cent of the total weekly turnover where stocks like BATBC Beximco Pharma Shahjalal Islami Bank Square Pharma and Singer Bangladesh dominated the block trade board Banking sector kept its dominance over the turnover chart grabbing 35 per cent of the weeks total transaction followed by engineering with 18 per cent and pharmaceuticals 11 per cent Out of 336 issues traded 207 closed lower 116 ended higher and 13 issues remained unchanged on the DSE trading floor during the week The market capitalisation of the DSE rose 137 per cent as it was Tk 4123 billion on the opening day of the week and it stood at Tk 4179 billion on closing day of the week City Bank topped the weeks turnover chart with 5390 million shares worth Tk 184 billion changing hands followed by IFAD Autos with Tk 121 billion Brac Bank Tk 10 billion LankaBangla Finance Tk 994 million and Dhaka Bank Tk 926 million Reckitt Benckiser was the weeks best performer posting a gain of 1925 per cent while Stylecraft was the weeks worst loser slumping by 3322 per cent A new issue - Oimex Electrode-- made debut last week and soared 1042 per cent from its offer price of Tk 10 in the first trading day on Monday Source httptodaythefinancialexpresscombdstock-corporatestocks-nudge-higher-as-bank-telecom-issues-surge-1510332934date=11-11-2017

BANGLADESH GROWING AS DENIM HUB The growing global demand for fashionable denim wear encouraged both local and foreign entrepreneurs to make fresh investment in Bangladesh participants and organisers of Bangladesh Denim Expo have said Many of the 30 local denim mills are going for expansion while a couple more will come into operation with fresh investment within next two or three years they said Some foreign companies are opening offices or setting up factories in Bangladesh they added The seventh edition of the two-day Bangladesh Denim Expo was held in the city recently with the theme transparency to highlight the need for transparency in the entire denim supply chain

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A total of 65 exhibitors from 12 countries participated in the show while more than 12 thousand visitors from across the world registered online to attend the two-day expo organisers said Talking to the FE on the sidelines of the expo Md Khalid Mosharof assistant general manager at Dekko Group said the group invested Tk 15 million in setting up a new factory of 44 lines at Ashulia that would go for denim item production in June next The main reason is to tap the growing global demand he said Echoing him Syeed Ahmed Chowdhury general manager operation at Square Denim said the company expanded its denim fabric production capacity to 30 million yards from the existing 15 million yards per month mainly to meet the demand He however opined that the expansion is taking place more in garment segments than in fabric production There is no alternative to expansion to sustain the existing business and achieve the $50 billion garment export earnings target by 2021 Sharif Zahir managing director of Ananta Group said stressing the need for positive branding of the sector Meanwhile Landes a German denim accessories maker started production in its new factory at Savar from this month It invested US $05 million We opened the factory in Bangladesh as we think this is the hub for denim business and there is a lot of business prospects here Manfred Slowik chief operating officer of Landes told the FE at his stall at the expo By the end of next year the total workforce in our new plant will be 120 people as we are recruiting new people from existing 30 Mr Slowik said Landes has a target to produce 500 million pieces of leather patches used in denim trousers as accessories in a year at its Savar plant from where such accessories will be supplied to the whole Asian region Many big brands like HampM VF and Walmart are their customers he said Nezahat Boni senior account manager of Orta a Turkish denim maker said her company supplies 30 million metres of denim fabrics in Bangladesh in a year against only 800 meters in 2011 We opened an office in Bangladesh in 2011 as we cannot ignore the importance of this country as a denim hub she said Prosperity Textile a Chinese company opened its office in Dhaka last year said Md Mujibul Hoque the companys Bangladesh Sales Director The company has targeted sale of 100 million yards a year across the globe while it also targets 30-40 per cent of their sales in Bangladesh Bangladesh is now the top denim products supplier to the European Union overtaking China and third largest to the US after China and Mexico industry people said Bangladesh supplies denim products to major global buyers and retailers including levis G-Star Raw HampM Tesco Wrangler Hugo Boss Walmart and Gap Source httptodaythefinancialexpresscombdtrade-marketbangladesh-growing-as-denim-hub-1510332061date=11-11-2017

EXPORTS UP 70PC IN JULY-OCTOBER Countrys export earnings grew by 703 per cent to US$1150 billion during first four months of the current fiscal year (FY 2017-18) according to official data released Thursday The earnings were $1079 billion in the same period (July-October) last FY In October 2017 the exports grew by 642 per cent to $284 billion the Export Promotion Bureau (EPB) data showed The overall exports in the first four months slightly (074 per cent) fell short of the periods target In October however the exports were 628 per cent higher than the months strategic target Readymade garment shipments fetched $943 billion marking 699 per cent growth during the period as compared to $882 billion in the same period of last FY

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The woven items registered 385 per cent growth in earnings to $445 billion than that of $428 billion in the same period of FY 2016-17 The earnings from knitwear export during the period grew by 995 per cent to $498 billion from $453 billion in the corresponding period of last FY Jute and jute goods exports rose by 1646 per cent to $34501 million from $29626 million in the same period of FY17 The earnings from agriculture products grew by 2022 per cent during the period while home textiles by 2037 per cent The earnings from leather and leather products however fell marginally by 002 per cent to $42844 million during the period than that of $42851 million in the same period last FY The export earnings from frozen food and live fish grew by 1541 per cent to $22691 million from $19661 million of the corresponding period of last fiscal Mahmud Hasan Khan vice president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) said the exports in the first four months of the current fiscal year fell short of the expected growth mainly because of failure in maintaining the lead time and short supply of gas and electricity Terming the knitwears growth satisfactory he said woven items manufacturers have been struggling to cope with the new challenge as buyers were reducing the volume of orders due to failure in meeting the lead time Without efficient port and strong backward linkage industry especially for the woven sub-sector it will be difficult for the sub-sector to bounce back he feared He pointed out that maximum of the woven fabric requirements were being met through imports But it was taking too much time to clear the imported fabrics and additional charges as a result at the Chittagong seaport that was facing unbearable congestion The government should provide necessary policy support to the exporters to establish strong backward linkage industry for the woven sub-sector he added Source httptodaythefinancialexpresscombdfirst-pageexports-up-70pc-in-july-october-1510248870date=10-11-2017

GAS CRISIS HURTING OUTPUT IN INDUSTRIAL BELT Factories in the countrys Tongi-Gazipur industrial belt have been facing acute gas crisis over the past few months following diversion of gas to upstream power plants The crisis has deteriorated further this week albeit some improvements for a few days last week said local industrialists and businessmen According to them if the ongoing gas crisis persists they may be forced to shut down their factories Officials of the Titas Gas Transmission and Distribution Company Limited (TGTDCL) however blamed the Petrobangla for the gas crunch Sources concerned say the industrial belt of Tongi-Gazipur is suffering badly for about four to five months from low pressure of gas coupled with poor electricity voltage -- often resulting in huge volume of industrial wastages and reduction of production efficiency According to the industry insiders a factory in the industrial belt requires 04 PSI (production per square inch) as optimum gas pressure but the pressure at times comes down to as low as 01 PSI these days -- especially during the daytime Gas pressure in the area becomes normal around 10pm11pm and stays for not more than 08 hours until 6am7am an entrepreneur of the industrial belt informed Asked an official of Titas said they are at present getting nearly 250 million cubic meters (MCM) less in recent weeks against their current demand of 1800 MCM gas in Titas franchise The downstream Titas franchise area covers greater Dhaka region which includes Gazipur alongside some other adjoining districts and greater Mymensingh he said

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A Petrobangla source however cited gas supply on priority basis to a number of upstream projects including power plants as reason behind supply shortage When asked Managing Director of Akij Group Sk Bashir Uddin termed the situation really worrisome According to him two of Akij Group companies situated in the area -- Akij Printing amp Packages Limited and Dhaka Tobacco Industries -- jointly contributed nearly Tk 35 billion (3500 crore) to the national exchequer in the 2016-17 fiscal year But were very much worried about our industrial output this year as production disruption following the twin crises involving gas supply and power supply Both will eventually disrupt our retail business in every phase he quipped This often results in a high rate of industrial wastage and reduction of production efficiency he added Bangladesh Auto Re-rolling Steel Mills amp Association Chairman Manwar Hossain who is also Anwar Group Managing Director echoed the same concern Factories in the industrial belt are now operating at one-third of their capacity which may lead to labour unrest and default of huge sum of bank loans he said Such disruption of production he cautions may even cause sudden shutdown of factories According to him none of the victims in that case will be the wilful defaulters -- they will be the victims of circumstances The businessman who has a steel factory called Anwar Ispat Limited in the industrial belt called for immediate introduction of ECM (electronically controlled meters) to check unabated gas engineering in the area which he deems to be yet another reason for gas supply crunch Titas officials according to him are encouraging co-generation scheme to help address the severe gas crisis But he said co-generation will require stable and smooth gas supply Government should ensure at least 10-15 years of smooth gas supply to encourage co-generation as what he said any industrial investment requires 20 years of payback period TGTDCL Deputy Managing Director Engineer Abdul Wahab Talukdar who is also the Project Director of Sripur-Joydevpur Transmission Pipeline Project said We cannot do anything to address the crisis if there is a lack of adequate gas supply Mentioning that all factories in the industrial belt are like my babies he unequivocally said Titas is not at fault He also admitted that priority-based power plants gas supply being the reason behind the current spell of gas crunch We have already started introducing electronic volumetric corrector (EVC) to stop illegal gas use in the area he said Factories he added should go for co-generation scheme for protecting their own interest Co-generation means utilising and absorbing heat generated from gas generators which Mr Wahab said will save energy A section of the businessmen however called for stopping fertiliser production and distributing the same among people at a subsidised price after importing it to facilitate smooth supply of gas to other industries Even if the government stops fertiliser production and opts for importing it for distribution at a subsidised rate there will only be an insignificant loss compared to the overall losses now being incurred said an industrialist who has more than one factory in the industrial belt Local sources said illegal and unapproved gas connections in various industries in and around the zone are also affecting gas supply badly among other reasons Source httptodaythefinancialexpresscombdfirst-pagegas-crisis-hurting-output-in-industrial-belt-1510249018date=10-11-2017

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SINGLE PERSON MAY FORM COMPANY A single person may form a commercial firm under a provision of the companies law being updated along with some other major business-stimulating measures Official sources said the government is considering incorporating some new provisions including one allowing individuals to form any company into the updated Companies Act The other provisions are formation of an appellate tribunal to resolve legal matters without wasting much time widespread automation of companies work and submission of annual company reports online Earlier the Ministry of Commerce (MoC) had received some recommendations from the stakeholders on how to update the law they added We got most of the recommendations from the stakeholders We hope we will be able to prepare the draft Companies Act within a month Md Obaidul Azam director trade organisations (DTO) told the FE He said the recommendations the ministry had received so far were being scrutinised before preparing a draft for updating the companies act Earlier different trade bodies had sent their respective recommendations to the MoC for incorporation into the law The MoC will hold a meeting with the countrys apex trade body after assessing the recommendations and suggestions the ministry official said Talking to the FE a leader of an influential trade body said they had sent some recommendationssuggestions to the MoC for the new Companies Act for betterment of the countrys trade and business According to Section 2 (1) (c) of the Companies Act 1994 Company means a company formed and registered under this Act or an existing company Thus a company is an association of persons formed under the Companies Act 1994 with a view to achieving some common objectives Though a company is regarded a legal person it possesses similar rights and owes similar obligations like a natural person Now any individual fulfilling the new criteria may be allowed to form a firm Source httptodaythefinancialexpresscombdfirst-pagesingle-person-may-form-company-1510249090date=10-11-2017

DSE TURNOVER CROSSES TK 80 BILLION MARK The daily turnover on Dhaka Stock Exchange (DSE) exceeded the Tk 80 billion mark on Thursday as investors took fresh exposure to the banking sector Turnover a crucial indicator of the market reached Tk 870 billion on the countrys premier bourse jumping 14 per cent from the previous days transaction of Tk 765 billion It was the biggest single-day transaction since October 11 when the turnover totalled a record Tk 1092 billion Along with rising turnover DSEX the prime index of the Dhaka bourse continued to keep its gaining momentum closing 3449 points higher at 6193 points DSEX which replaced the DGEN in nearly five years back added more than 121 points or 20 per cent in the past four consecutive sessions The two other indices -- the DS30 index and the DSE Shariah Index (DSES) -- also followed suit to end at 2244 and 1341 points after gaining 1422 points and 443 points respectively Brokers said the market maintained the bullish trend for the four straight sessions as the enthusiastic investors chased the banking sector stocks The market continued the bullish trend for the four consecutive sessions as the enthusiastic investors were active for the banking food and engineering sector stocks commented EBL Securities a stockbroker in its regular market analysis

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It noted that the core index remained positive throughout the session as optimistic investors kept buying sector-wise stocks while some rebalanced their portfolios Meanwhile share price of newly listed Oimex Electrode continued to decline for the three consecutive sessions after unusual hike during its debut trading on Monday The companys share price fell 763 per cent to close at Tk 9810 on Thursday after jumping more than tenfold during the debut trading which experts termed unusual Block trade contributed Tk 241 million to the days total turnover with stocks like BATBC Square Pharmaceuticals Singer Bangladesh and Beximco Pharma dominating the block trade board Among the major sectors pharmaceuticals posted the highest gain of 122 per cent followed by banking sector (083 per cent) food amp allied (067 per cent) engineering (033 per cent) financial institutions (003 per cent) and power (003 per cent) Only telecommunication sector faced a 045 per cent correction A total number of 0140 million trades were executed in the days trading session with trading volume totalling 23171 million securities The total market capitalisation of the DSE stood at Tk 4179 billion against Tk 4168 billion in the previous session Losers however took a modest lead over the gainers as out of 325 issues traded 140 closed lower 130 closed higher and 55 remained unchanged on the DSE trading floor City Bank dominated the turnover chart for the second day in a row with 1035 million shares changing hands closely followed by Dhaka Bank LankaBangla Finance Brac Bank and Keya Cosmetics Reckitt Benckiser was also the days best performer posting a gain of 624 per cent while Qasem Drycells was the days biggest loser shedding 1235 per cent The port city bourse Chittagong Stock Exchange (CSE) also ended higher with its Selective Categories Index -- CSCX --gaining more than 62 points to close at 11618 Losers beat gainers as 113 issues closed lower 97 closed higher and 37 remained unchanged on the CSE The port city bourse traded 1604 million shares and mutual fund units generating a turnover of Tk 483 million Source httptodaythefinancialexpresscombdstock-corporatedse-turnover-crosses-tk-80-billion-mark-1510245247date=10-11-2017

TEN COS GRAB 32PC TURNOVER ON DSE The banking sector continued to dominate the transaction chart of the Dhaka Stock Exchange (DSE) accounting for 39 per cent of the total turnover on Thursday Four banks made their way to the top 10 turnover chart with City Bank leading the chart for the second day in a row Brokers said the investors chased the banking sector issues as more than 63 per cent of listed banks showed positive earnings in the third quarter (July-September period) Meanwhile top 10 traded companies including four banks grabbed more than 32 per cent of turnover on the Dhaka bourse The total turnover on the premier bourse reached Tk 870 billion up 14 per cent from the previous days Tk 765 billion The most active shares in terms of value included City Bank Dhaka Bank LankaBangla Finance Brac Bank Keya Cosmetics Square Pharmaceuticals Beximco Pharmaceuticals IFAD Autos Exim Bank and IDLC Finance According to statistics available with the DSE about 1035 million shares of City Bank were traded generating a turnover of Tk 553 million or 635 per cent of the total transactions

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The companys share price hovered between Tk 5240 and Tk 5440 before closing at Tk 5390 advancing 228 per cent over the previous session Dhaka Bank came in next with shares of Tk 395 million changing hands contributing 454 per cent to the total turnover The banks share price closed 347 per cent higher at Tk 2380 LankaBangla notched the third spot with shares of Tk 266 million changing hands making up 305 per cent of the total turnover Its share price ended 063 per cent higher at Tk 6430 Brac Bank emerged the fourth with shares of Tk 257 million changing hands grabbing 295 per cent of the total turnover The banks share price settled 123 per cent higher at Tk 107 Keya Cosmetics featured a turnover of Tk 247 million or 284 per cent of the total turnover Its share price closed 201 per cent higher at Tk 1520 The turnover of Square Pharma was Tk 241 million or 276 per cent of the total transaction Its share price ended 612 per cent down at Tk 27890 Beximco Pharma featured a turnover of Tk 211 million or 242 per cent of the total turnover Its share price advanced 428 per cent to close at Tk 10960 The turnover of IFAD was Tk 208 million accounting for 238 per cent of the total turnover Its share price closed at Tk 14070 gaining 195 per cent Exim Bank featured a turnover of Tk 196 million or 225 per cent of the total transaction The banks share price inched up 055 per cent to close at Tk 1830 IDLC also made its way to the top ten turnover chart with shares of Tk 188 million changing hands Its share price closed 223 per cent higher at Tk 9150 Source httptodaythefinancialexpresscombdstock-corporateten-cos-grab-32pc-turnover-on-dse-1510245290date=10-11-2017

FOREIGN INVESTMENT HIKE INFO DRIVES MODERATE GAINS ON DSE The Dhaka bourse Thursday closed the session posting a moderate rise in the broad index and turnover amid mixed performance displayed by major sectors On the day most of the major sectors declined but the turnover crossed Tk 80 billion-mark after two sessions on Dhaka Stock Exchange (DSE) mainly because of investors increased participation in the banking sector According to a market review of International Leasing Securities positive momentum in some big-cap stocks especially from bank food and engineering sectors helped the bourse to close in green The market started the session with a positive note and the DSE broad index DSEX witnessed little ups and downs before closing higher According to AT Capital Partners the market remained sideways till the midsession The DSEX rose again in the second half of the session and closed at 61936 up by 345 points The shariah based index DSES and blue chip index DS30 also rose marginally The turnover stood at above Tk 870 billion which was 1370 per cent higher than the turnover of the previous session The confident drive was initiated by the investors buying spree riding on the news of doubling net foreign investment in stocks year-on-year in the first ten months of 2017 said the International Leasing SecuritiesAmong the gaining sectors bank advanced 08 per cent and engineering 03 per cent Of the losing sectors pharmaceuticals amp chemicals declined 11 per cent telecommunication 05 per cent and textiles 09 per cent The banking sector grabbed 384 per cent of the market turnover at the premier bourse DSECity Bank topped the turnover chart with a value of Tk 553 million followed by Dhaka Bank LankaBangla Finance BRAC Bank and Keya CosmeticsReckitt Benckiser (Bd) limited topped the gainers chart with a rise of 624 per cent to close at Tk 18456 while Quasem Drycells was the worst loser after declining 1235 per cent to close at Tk 8230 Source httptodaythefinancialexpresscombdstock-corporateforeign-investment-hike-info-drives-moderate-gains-on-dse-1510245365date=10-11-2017

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MORE JAPANESE COMPANIES SEEK TO INVEST IN BANGLADESH Japanese Ambassador to Bangladesh Hiroyasu Izumi has said the Japanese investors are keen to invest in Bangladesh considering the lucrative offer and ideal atmosphere for foreign investment reports BSS The Japanese investors expressed more interest to invest in Bangladesh at recently-held the third round of Public-Private Economic Dialogue between Bangladesh and Japan he said while visiting the Chittagong Export Processing Zone (CEPZ) on Thursday The envoy expressed the hopes that Japanese investment in the Export Processing Zones (EPZs) will increase after the successful dialogue said a press release More and more Japanese companies will come to invest in this country he added General Manager of CEPZ Khorshid Alam maed a PowerPoint presentation highlighting the overall scenario of EPZ as well as Bangladesh Export Processing Zone Authority (BEPZA) Mentioning Bangladesh EPZs as the Bonanza for Investors he said investors from 38 countries have set up industries in the EPZs and invested US $442 billion He informed the ambassador that BEPZA has ensured three layer security system including 24-hour CCTV surveillance in the key points of EPZ and factory premises for the safety of the investors Source httptodaythefinancialexpresscombdtrade-marketmore-japanese-companies-seek-to-invest-in-bangladesh-1510250285date=10-11-2017

Source httpwwwarthosuchakcomarchives388209

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৩০ ২০১৬ ৩৫ ৬৩

৫ ( ) ৩ ৪৯

Daily News Flash 12th November 2017

37

Source httpwwwarthosuchakcomarchives387762

lsquo rsquo

( )

lsquo - rsquo

( ) ও

২০০২ ( ২ )

৫৪৬

ও ১৫

ও ১৫ ৭৫ ও

১০-১২ ১

১৫৫ ৬৭

ও ২০১০

ও ও ও -

ঋ ঋ

১৫ ৪ ৩

২ ২ ৪ ১৫ ৬

( )

Source httpwwwarthosuchakcomarchives388276

- ও ও

Daily News Flash 12th November 2017

38

৩৮ ও ৪৩

১০০ ৬১ ৫৮ ২২৫ ১ ০৫

Source httpwwwarthosuchakcomarchives387849

- ও ( -২)

৬ ও

ও ৫ ৩০০

ও ও

৭ ২০০

( ও )

ও ও

ও ও

২ - ও mdashlsquo

rsquo ও

-

৫ ৩০০

- ১০ - ৪২৯ -

৩২৮

- ১০

( )

২০১৪

( ও) ও ( )

( )

২ ও ও

ও ও ও

ও ২০১১- ও

ও ( )

Daily News Flash 12th November 2017

39

(১০ ) ৫ ৭৬৩

৬৩ ও

ও ( )

- ২০১৪ ও

ও ও

Source httpwwwprothom-alocomeconomyarticle1362971

ও ও

ও - ও

২০১৬-১৭ ২০ ও

ও ও lsquo rsquo

ও ১০ ও

৭৭ ২০১৭

১৬ ২৭ ও

২০১৬-২০১৭ ২০ lsquo rsquo

ও-

ও ও ও

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564382

ফ ( ও) ১১

ও ও

ও lsquo১১ ও rsquo

১০ ১৩

( ) ( )

Daily News Flash 12th November 2017

40

- ও

-

( )

( )

lsquo ও

rsquo ও

২৬ ১০

১৬

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564383

১ ৫০

ও ২০৫০

২৩

১৬ ৫৯ ২০১১

২০৩০

( )

ঋ ও ও

৬৮ ৬৭

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564384

ফ lsquo

ও ও

( ) ও

- ও

( ও ) ( )

Daily News Flash 12th November 2017

41

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564388

৪৫ ও

৮৪ ৮৩

৯২০

২৭ ২৪ ৭ ৩

৬ ৮৯

৯ ১ ৭২ ১৪ ৪৮

৪৫

ও ১৭ ৫০

১৯৩ ১০ ২০১৫-১৬ ৪১৩ ১০ ও ও

২০১৪-১৫ ৩৭৫ ৮০ ৩৫ ৭০

২০১৩-১৪ ৫১৫ ও

৮১ ২ ৫১ ৩ ২০

২ ও

৮৪

৮১

- ও

৮৩

৮২ ৯৫

ও ও - ও

ও ও ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17112200 - - - -

ও ৫০

ও ( ) ( )

ও ও

Daily News Flash 12th November 2017

42

ও ও

১০০

৮ ও

৩০০ ( )

ও ১৫০

২০০ ১০০

২০০

২৭ ৭

ও ও

ও ৩০ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111811 - - - -

-

২৭ ১১

১০

( ) ২৮৪

৬ ২৮ ৭ ১৫১

৭৪

ও - ও

ও - ও

ও ৩

৭ ১ ২৩

৯৪৪ ৮৮২ ১০

ও ৪ ৭ ও

৪ ৩৮ ও ১৫ ৪১ ২২ ৭০

২০ ৩৬ ১৩ ও

৪৬ ২২ ২০ ও

১৭ ৩৭১ ও ও

১৭ ও ৪৩ ও

Daily News Flash 12th November 2017

43

৬ ২০ ও ১৬

৩৫ ২০ ২৭

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111810 - - - - -

ও ও

১৩০ ও ১৪০

৫৫ ও ৯৭ ১১৩

৩৭

৩৪

৬১৯৩ ৬২ ১১৬১৭

৩০ ১৯

ও ও

ও - ও

৪৮ ৩১

১২ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111808 - - - - -

৩৫ ও ১০

ও ( ) ও

১০

ও ও -

২ ৩০০

২০১৪ ও

ও ৭ ২০১৪ ও ২০১৫

৫ ৭ ও ১২ ৮ ২৩

২০১৩ ১ ৪২০ ২০১৪ ১০ ৫ ১ ৫৭০

১৩ ৪ ও ১ ৩৫৮ ১০

২০১৬ ও ৩ ৫ ১ ৩১০ ২০১৪

২০১৬ mdash ২ ১ ঋ

১০ ও ২০১৩

২৯ ৮০ ২০১৪ ৫ ৭ ৩১ ৫০ ২০১৫

১২ ৩৫ ৩০ ২০১৬ ৭ ৩৭ ৮০

Daily News Flash 12th November 2017

44

২০১৪ ২০১৬

৩২ ৩৫ ও ৫০ ১৯

৫৬

১৭ ৪৬ ২০১৪ ২০১৬

৭২ ১০০ ও ১১১

২০১৪ ২০১৬ ১৫ ৬৩

৯১ ১১৪ ও ১১৮ ৮ ২৩

৮০ ৯০ ও

ও -

ও -

ও ও ও

১০ ও

১০ ও ২২

৭১ ১২ ৪২

৩২ ২৬ ও

ও ও

( ) ও

ও ২০২১ ও ও

৫ ১ ১৬

ও ও

Source httpbonikbartanetbanglanews2017-11-12137992 - - -- -

৫০০ ৫০০ ও

ও ৩০ ২০১৭

৫০০ ও ঋ ২০১৮

৩০

১ ২০ ও ১৫০

১১

Daily News Flash 12th November 2017

45

৩০০ ৬০০

( ) ও

১ ২৫ ও ১০

১০ ও

ঋ ও

৩০ ২০১৭ ৩ ও ১২ ও

( ) ২ ১৪ ২ ১

ও ৩০ ১১

( ) ও ও

( - ) ৬৬ ৫৫ ৩০

( ) ৩৪ ৯০

ও ও ও

( ) ও

ও ও ২০১৫ ৩০ ১০ ২০১৬

১২

( ) ৪১ ২০ ও ২৩ ৬০

৫০ ও

২০১৪ ৩০০ ও ১৪৮ ৪৬ ৫০

১৯১ ৬২ ৩৭ ৩১

১২ ৪৫ ৫০ ২৪

ও ( ) ১৬ ৫৩

ও ১৫ ২২

Source httpbonikbartanetbanglanews2017-11-12137966৫০০- - - - -ও -

৬৩

- ও ও

৬২ ৯৪ ৫

৬২

৯০

২০১৪ - -

- ও

২০১৬-১৭ ৫ ৬২ ও ২০১৩-১৪

১২

( ) ৯০

-

ও - - ও -

Daily News Flash 12th November 2017

46

- ও

৬২ ৯৪

২০১৩-১৪ ৭০ ৭৮ ২০১৪-১৫ ৫৪ ২২

২০১৫-১৬ ৩৯ ৩৩ ও ২৬ ২৩

ও ২০১৩-১৪

১২ ৩৬ ২০১৪-১৫ ৫ ৯১ ও ২০১৫-

১৬ ১৭ ৩০ ৫ ৬২

৩০ ২০১৭ ১০

২ ৮৬ ও ৩

ও ২৪ ( )

২৭

১৯৬৪ ১২

৪ ও ও ১৯৭২

ও ( )

ও ৩৪ ৮ ও

৯০

৪৫ ও ৫

১৯৬৪ ১৯৭২ ১৯৮৯

১০০ ও ২৬ ১৬ ২০ ৫৪৩ ৭৭

৫ - ৫১ ১৫ ৬০ ও

৩২ ৯০

Source httpbonikbartanetbanglanews2017-11-11137853 - - - - - -৬৩---

( ) ও

১০

ও ও ও

-

ও ও

ও ঋ ও

ও ২০১৪ ও

ও ও

২০১৩

( ) ও

Daily News Flash 12th November 2017

47

২০১৪

২০১৪-১৬ ও

২০১৪

ও ২০১৪

২০১৫ ২৭ lsquo ও rsquo

ও ও

২০১৬ ২৪

( )

ও ও

- ও

ও ও ১৯৮৩ ২০১৬

ঋ ( ) ৫৬০

৮৬৪

২০১৬ ২০১৯ ও

ও ১৫ ২৫ ৩০ ও ৩০

ও ঋ ও

২০১৬ ঋ ১

৩৪২ ঋ ৬ ৫২ ১২৩

ঋ ২ ৪৪৩ ঋ ১০

৮৪ ঋ ৪০

৭২৬

ও ২০১৬ ৭৪১

৪৫৭

২০৭ ২৪৪

১০ ও

ও ও ও ও ও

Daily News Flash 12th November 2017

48

Source httpbonikbartanetbanglanews2017-11-12137998 - - - - - ও- -

( )

৩০ ২০১৭ ২০

( ) ২ ১ ১ ৫৯ (

) ৩০ ( ) ১৫ ৩৭

ও ২৮ ১১

( ) ২৮

২০১৬ ৩০ ১৮ ২০

২০১৪ ও ২০

১৫ ৩০

১৮ ৮০ ও ৯ ৬০

Source httpbonikbartanetbanglanews2017-11-11137850 - - - -

ফ ৭ ২০১৭-১৮ ৭ ৩ ৭৪

( ) ও

( - ) ১ ১৫০ ৫৮

(২০১৬-১৭) ১ ৭৫ ৩ ৬০ ৭

৩ ১ ১৫৯ ২০ ৭৪

ও mdash

৬ ৬৫ ১৭ ৬৩

mdash ও ও

১৫ ৪১ ২২ ৬৯ ১০

১৯ ৬৬ ১০ ২০ ২২

mdash ও ও ও

৩৯ ৫১ ও ২ ও

১৬ ৪৬ ও ও ৬ ৯৯ ও

৩ ৮৫ ৯ ৯৫

১৯ ৮২

৮০

ও ( )

mdash

Daily News Flash 12th November 2017

49

ও ও

Source httpbonikbartanetbanglanews2017-11-10137755 - - - -৭- - --

ফ - ফ ও -ও

-ও

-ও

২৯-১০-২০১১ ৩ ( ) ২৮-১০-২০১৪

৩ ( ) ২৮-১১-২০১৬

২৮-১০-২০১৭ ৩ ( )

২০১৬-১৫৮১৩৪ ৪৪ ০৭-০৮-

২০১২ ১২(৬) ২ ( ) ৬ ( )

-ও - ও ২ ( )

৬ ( ) ও ও

-ও ৩ ( )

-

ও ও

১৯৯৪

২ ২২-০৫-২০১২ -ও ৩

- -

১৯৯৪

-ও

- ও

( )

১৯৯৪

১৯৯৪ -ও

Source httpwwwsharenews24comindexphppage=detailsampnc=1ampnews_id=6587

Daily News Flash 12th November 2017

50

ফ ফ

১৫ ও

-( ) ও

৪৯

১৬ ৮৫

৫১ ৪৯

৪ ৩৬

১৯১৩

১০০ ও ১৯০১ ১৯৬০

Source httpswwwdailystockbangladeshcom - - - -

- ( -১)

( ) ৮

৩০০ ও

( ) ১৬

- ২২৮ ৪৯ ১৮৩ ২০১৮

( ) ও

১৫০

( ) ও ৪০ ৩০

ও ও

ও ও

Source httpswwwdailystockbangladeshcom - - -

Page 9: Daily News Flash, 12th November, 2017 -  · PDF filebanglalink's revenue falls 4.57pc in q3 ... banks lack remedial strategy while npl rises worryingly

Daily News Flash 12th November 2017

9

Her visit comes following recent changes in the banks senior management with Naser Ezaz Bijoy being appointed as the CEO of Standard Chartered Bangladesh Bijoy replaced Abrar A Anwar who took charge of the banks operations in Malaysia ldquoAnnas visit reiterates the Groups strong commitment to drive commerce and prosperity in Bangladesh and aid the development of the nations financial sectorrdquo said Bijoy in the statement ldquoAs the oldest financial institution in the country with a heritage of over 112 years and deep local knowledge we remain firmly committed to being a partner in progress to our nationrdquo Marrs is also the CEO of Standard Chartereds commercial and private banking business globally She joined Standard Chartered as group head of strategy and corporate development in January 2012 In her role as the head of strategy Marrs led reviews of the banks businesses globally with notable projects focusing on Nigeria China and India Prior to joining Standard Chartered Marrs was a partner in McKinsey amp Companys banking practice She started her career at DE Shaw a New York-based investment firm Marrs holds an MBA from London Business School and an undergraduate degree from Northwestern University in Chicago Source httpwwwthedailystarnetbusinessstanchart-top-official-town-1489969

EXPORTS SPRING BACK

Exports bounced back in the month of October fetching $284 billion on the back of higher shipments of apparel products ldquoYes garment export is rebounding after a slowdown over the last few monthsrdquo said Siddiqur Rahman president of the Bangladesh Garment Manufacturers and Exporters Association Garment shipments which typically fetch 82 percent of the export earnings brought home $229 billion last month up 4136 percent from the previous month and 602 percent from a year earlier ldquoI hope garment shipments will only increase from here onwards as the peak season is coming uprdquo he added Octobers receipts are higher than the previous months by 399 percent and the previous years by 637 percent according to data from the Export Promotion Bureau The amount which beat the target of $268 billion set by the commerce ministry for the month takes the tally so far in the fiscal year to $1151 billion In the first four months of fiscal 2017-18 leather and leather goods shipment the second largest export earning sector after garment declined slightly It raked in $42844 million down 002 percent from a year earlier But jute and jute goods the next big export earner saw its receipts soar 1646 percent to $34501 million during the period The sectors prospects on the global stage brightened after the long-delayed diversification of the product range and the higher demand for Bangladeshi made jute yarn for carpets and rug manufacturing in Turkey and some Middle-eastern destinations according to industry people Moreover jute exports to Japan and Russia are increasing due to higher demand of natural fibre-

Daily News Flash 12th November 2017

10

made products there exporters said Home textile exports increased 2037 percent year-on-year to $26079 million while the shipment of agricultural products like vegetable fruits spices cut flowers grew 2022 percent to $20321 million Frozen fish live fish and shrimp export increased 1541 percent to $22691 million which is 3721 percent higher than the target for the period Shrimp exporters said they have been receiving better prices from buyers as the demand for the black tiger variety of shrimp increased in the western world Last year shrimp exporters received $550 to $650 for a pound of shrimp but this year they are receiving between $750 and $8 according to exporters Pharmaceuticals exports grew 1731 percent year-on-year to $3219 million and furniture exports 1881 percent to $1415 million Source httpwwwthedailystarnetbusinessexports-spring-back-1489108

EXPORTERS SEEK LONG-TERM TAX ENERGY POLICIES Exporters yesterday demanded long-term and stable tax and energy polices such that they can make their future investment plans accordingly ldquoWe need a long-term roadmap from the government on taxes and energy prices and supplyrdquo said Fazlul Hoque former president of Bangladesh Knitwear Manufacturers and Exporters Association Every year before the budget the National Board of Revenue increases the source tax on export receipts only to bring it down later following requests from businessmen or under political pressure he said For instance the government has been importing liquefied petroleum gas for supplying to the industrial units But it is not clear yet how and when the gas would be supplied to the industrial units he said ldquoHowever it is very simple to fix the rate for the long term so that the businessmen can predict their expenditure and plan for futurerdquo Hoque said at a roundtable on the export potential of Bangladesh Bangla daily the Prothom Alo and banking giant HSBC jointly organised the discussion at the newspapers office in Dhaka where a minister exporters bankers manufacturers and entrepreneurs spoke Siddiqur Rahman president of Bangladesh Garment Manufacturers and Exporters Association echoed Hoques views He also complained about the poor state of the premier Chittagong port and airport in Dhaka Not only the sea port and airport the poor state of the Dhaka-Ashulia highway is also responsible for the bad transportation system The truckers demand higher fares because of the rundown roads between Dhaka and Ashulia-Savar he said Subsequently he called for the highways to be expanded into six lanes as hundreds of garment factories are located on both sides of the road David Hasanat chairman and chief executive officer of Viyellatex Group a leading garment exporter said the garment sectors success stories should be spoken of more ldquoWe should also continue with the PR initiative to carve out a positive picture of the countrys successful garment sectorrdquo he added The exporters of Bangladesh are responsible for not only driving economic growth but also for establishing the Bangladesh brand across the world said Francois De Maricourt chief executive officer of HSBC Bangladesh Muhammad Shohiduzzaman country head of global trade and receivables finance of HSBC Bangladesh said the popularity of export through open accounts system has increased worldwide due to simplicity of the process Bangladesh can also adopt it instead of the time-consuming and traditional letters of credit system he said

Daily News Flash 12th November 2017

11

Saiful Islam president of Leathergoods and Footwear Manufacturers and Exporters Association of Bangladesh (LFMEAB) said the condition of the customs department at the Chittagong port has worsened Customs officials take a lot of time to scrutinise the imported goods meant for manufacturing in the factories Islam said adding that the Chittagong port should have a contingency plan to avoid any kind of sudden deterioration in the system Abu Taher former chairman of the LFMEAB said the global market size of leather goods is $240 billion and in a few years time China will be importing another $100 billion worth of leather and leather goods and footwear ldquoSo we have a lot of opportunity to export leather goods worldwide We need export diversificationrdquo Taher said The demand for diversified jute goods like yarn has been increasing worldwide so the scope for jute and jute goods exports is also rising worldwide said Mahmudul Haque managing director of Sadat Jute Industries Limited ldquoWe need the governments support to make the best of this global opportunityrdquo he added MA Mannan state minister for finance and planning said sometimes the governments activities are stopped through filing writ petitions in the court ldquoThis is one of the major reasons for the slow progress of the governments development projectsrdquo he added Abdul Qayyum associate editor of the Prothom Alo moderated the roundtable Source httpwwwthedailystarnetbusinessexporters-seek-long-term-tax-energy-policies-1489123

DOLLAR SUDDENLY BECOMES DEARER

A frequent traveller who often buys foreign currency from an international bank in Dhaka was charged about Tk 86 for a US dollar on Wednesday Just a month ago he bought a dollar for Tk 83 This sudden rise in dollar price might not make much of a difference to individuals who purchase foreign currency in small amounts and infrequently but for importers who have to settle huge bills it is a major blow For instance if the price of a dollar goes up by even Tk 1 the importer has to bear an additional cost of Tk 10 lakh for $1 million Presently the bills for collection sell rate (at which import payments are made) of a dollar hovers around the Tk 83-mark and the rate goes up further for foreign banks that dominate the currency market The situation has forced the Bangladesh Bank to intervene sitting down with the banks and treasury officials twice in the last two weeks other than selling greenbacks Bankers blamed the depreciation of the local currency on the mismatch between demand and supply of the dollar

Daily News Flash 12th November 2017

12

Remittance and exports the two major sources of foreign currency for Bangladesh are in the slow lane while imports have ballooned Yesterday the inter-bank exchange rate of the US dollar stood at Tk 8095 up from Tk 7849 a year earlier The central bank has already sold $126 million to banks this month to halt the depreciating trend of the taka according to a Bangladesh Bank official ldquoBut it is not yielding the desired result as the demand for the US dollar continues to riserdquo From July 1 to November 9 the central bank has sold $440 million to banks In contrast it sold $175 million and purchased $193 billion during the course of fiscal 2016-17 Some banks are now trading the US dollar with each other bypassing the inter-bank exchange rate set by the central bank meaning that they completed the transaction beyond the rate the BB official said The central bank has put a cap on the US dollar at inter-bank exchange rate plus Tk 2 on April 27 in a meeting with the Association of Bankers Bangladesh with a view to keeping the market stable Besides on Monday it warned a number of banks for such unethical practice and asked them to strictly follow the inter-bank rate to settle foreign exchange transactions among them ldquoSome banks had secretly struck up deals between themselvesrdquo said Md Arfan Ali managing director of Bank Asia adding that the banks were forced to settle transactions at the higher rate because of the scarcity of the US dollar Banks usually do not get greenbacks from the central bank which compelled them to settle the deal avoiding the inter-bank rate said Syed Mahbubur Rahman managing director of Dhaka Bank Subsequently he urged the government to take initiatives to increase export earnings and remittances to ensure steady supply of the US dollar ldquoThe current account balance posted a huge deficit in the first quarter of the fiscal year This reflects the existing foreign currency shortagerdquo he added Between the months of July and September the current account deficit stood at $179 billion in contrast to $539 million in the surplus a year earlier according to data from the central bank During the period the trade deficit widened to $365 billion from $156 billion a year earlier Source httpwwwthedailystarnetbusinessdollar-suddenly-becomes-dearer-1489096

POLICY SUPPORT NEEDED TO DIVERSIFY EXPORTS ANALYSTS The government should extend its policy support beyond the garment sector in order to diversify exports said experts yesterday ldquoWe will have to give importance to various promising sectors which are apparently not visible like the garment sector to diversify exportsrdquo said Prof Wahiduddin Mahmud an eminent economist He said the government would have to provide subsidies to small sectors mostly manufacturing industries to carry on the existing export growth momentum He was speaking at the Bangladesh Enterprise Institutes stakeholder consultation workshop on ldquoExport Diversification Challenges and Prioritiesrdquo IFIC Bank organised the programme at its headquarters in Dhaka Commerce Minister Tofail Ahmed said Bangladesh would be able to reach its export target of $60 billion by 2021 Prof Mahmud said the manufacturing sector should be focused to make the countrys growth export-led Otherwise it would not be possible to maintain the current share of exports to the GDP after two or three years Salman F Rahman vice-chairman of Beximco Group who chaired the workshop said the government will have to extend the bonded warehouse facilities to all sectors and give cash incentives to small sectors

Daily News Flash 12th November 2017

13

He said the government is cutting various policy supports including cash incentive for the garment sector ldquoBut it is not the right time to discontinue the incentivesrdquo The businessman urged the government to continue its support so that the garment sector can maintain its growth momentum Mustafizur Rahman a distinguished fellow of the Centre for Policy Dialogue said intra-garment diversification needs to continue to boost exports He said the exchange rate should be kept at the level that helps exporters The economist said pharmaceutical leather and light engineering sectors have huge opportunities to contribute to exports if they receive supports Allah Malik Kazemi change management adviser to the Bangladesh Bank said the global slowdown has affected the exporters He said the central bank keeps the interest of exporters in mind while managing the foreign exchange market Md Nojibur Rahman chairman of the National Board of Revenue said there is political commitment from the government to stand by exporters He emphasised export diversification saying the NBR also has a role to play by way of supporting small sectors Kazi M Aminul Islam executive chairman of the Bangladesh Investment Development Authority said the government would have to put more emphasis on agriculture and manufacturing sectors to diversify exports He said the garment sector grew fast riding on the policy support provided by the government in areas such as bonded warehouse exchange rate and incentives ldquoOther promising sectors should be provided the same policy support so that they can growrdquo he said Mohammad A Razzaque project leader of the BEI said it is stated that the non-garment exports will not grow because of the policy support provided to the garment sector He disagreed with the argument saying promoting export diversification and maintaining the garment sector dynamism must go hand in hand BEI President Farooq Sobhan also spoke Source httpwwwthedailystarnetbusinesspolicy-support-needed-diversify-exports-analysts-1489081

DIGITAL HUNDI SHRINKS REMITTANCE FLOW THROUGH BANKS BIBM Hundi traders have been fast transferring remittance to relatives of expatriate Bangladeshis through mobile services which have resulted in a fall in the amount of money sent through banking channels This was reflected in a research report by the Bangladesh Institute of Bank Management (BIBM) The report titled ldquoIncreasing flow of remittance through banking channel Bangladesh contextrdquo was placed at a seminar at the BIBM auditorium yesterday A six-member team led by BIBM Director Shah Md Ahsan Habib prepared the report According to the report remittance flow decreased in recent times all over the world but the fall in Bangladesh was more as it accounted for a considerably high amount of remittance generated in total The report identified several reasons for which remittance was plunging including bank branches being distant from the houses of remitters relatives The report also mentioned a lack of good behaviour on the part of bankers requirement of various documents and weekly holidays as causes BIBM Supernumerary Professor Yasin Ali said the scope of mobile banking has much increased in the last five year but banks have failed to utilise the channel He said banks have to provide remitters the opportunities which were offered by unofficial channels otherwise inflow of remittance through the banking channel would plummet

Daily News Flash 12th November 2017

14

Another BIBM Supernumerary Professor Helal Ahmed Chowdhury said the cost of sending remittance through banking channels was higher the effect of which was falling on remittance inflow Chowdhury said an initiative has to be taken to slash the cost of transferring remittance to increase the inflow through banking channels SK Sur Chowdhury deputy governor of Bangladesh Bank said remittance flow to Bangladesh declined by 1110 percent in 2016 due to lower oil prices and fiscal policy tightening in the Gulf Cooperation Council countries It is hoped that awareness programmes would encourage non-resident Bangladeshis to come forward to know the importance of channeling their money through banks he said Chowdhury also said to ease the flow in the formal channel Bangladesh Bank has reduced the security deposit requirement for exchange houses abroad to establish drawing arrangements with local banks In addition to their own bank branches and ATM booths banks are now using the branch networks of microfinance institutions and post offices as sub agents for remittance distribution Remittances are also distributed through agent banking such as that provided through Singer Bangladesh Limited outlets he said Furthermore Bangladesh Bank has established a separate ldquoFinancial Integrity and Customer Interest Protection Departmentrdquo to handle complaints and suggestions of customers or stakeholders at home and abroad to ensure smooth and hassle free services The ldquo16236rdquo hotline is to address customers hassles if any He said at the moment no bank can take more than two days in reaching remittance to designated beneficiaries Source httpwwwthedailystarnetbusinessdigital-hundi-shrinks-remittance-flow-through-banks-bibm-1489075

JOINT VENTURE TO PRODUCE 600MW IN MATARBARI

A joint venture between Japans Mitsui amp Co and a state-run Bangladeshi company is going to set up a liquefied natural gas-based power plant at Matarbari in Maheshkhali upazila to produce 600 megawatts of electricity Coal Power Generation Company Bangladesh Ltd yesterday signed a primary agreement with Mitsui amp Co to this effect in Dhaka on Wednesday according to a statement of the power and energy ministry The companies will have 50-50 ownership in the joint venture that will complete the project by 2021 The government has taken initiatives to import a huge amount of LNG from next year Both land-based and floating LNG terminals will be set up The government has approved two floating LNG terminals each of which will supply 500 million cubic feet of gas per day In July state-run Petrobangla and US-based Excelerate Energy signed the final deals to set up Bangladeshs first LNG terminal in Maheshkhali which will supply gas to the national grid from early 2018 The government also awarded Summit Group the work to set up the countrys first floating LNG terminal also in Maheshkhali This one is due for commissioning by next October Source httpwwwthedailystarnetbusinessjoint-venture-produce-600mw-matarbari-1489069

Daily News Flash 12th November 2017

15

EXPORTS TO EU STATES BUT GERMANY POST ENCOURAGING GROWTH

Bangladeshrsquos export earnings from European countries except Germany registered a significant growth in the July-October period of this financial year 2017-18 riding on an excellent performance of readymade garment products According to the Export Promotion Bureau data exports to major European countries registered double digit growth in the four months of FY18 while the RMG export to Germany fell in the period compared with that in the same period of last fiscal year The EPB data showed that Bangladesh suffered a negative export growth in two promising markets mdash Japan and China mdash in the July-October period of FY18 Exporters said that earnings growth in the EU markets increased in recent months as the euro appreciated against the dollar They also said that buyers and brands cut import orders from Bangladesh for their Chinese stores that caused the negative growth Export earnings from the UK the second largest export destination for Bangladesh in the EU grew by 2084 per cent to $134 billion in the four months of FY18 from $111 billion in the same period of FY17 Earnings from apparel products fetched $125 billion with 2227 per cent growth in the period Export earnings from Spain in July-October in FY18 grew by 2581 per cent to $80102 million from $63670 million in the same period of FY17 Export earnings from the Netherlands rose by 3416 per cent to $40108 million in the four months of FY18 Bangladesh earned $58097 million from France with 270 per cent growth and $46374 million from Italy with 1206 per cent growth Exports to Germany the second largest export destination for Bangladesh in the July-October period of FY18 stood at $186 billion the same amount earned in the July-October period of FY17 Anwar-ul-Alam Chowdhury Parvez former president of the Bangladesh Garment Manufacturers and Exporters Association said exports depend on season and the earnings from Germany would increase from November RMG export earnings fell by 039 per cent to $173 billion from $174 billion in the market data showed lsquoWe have to wait to identify the reasons for the stagnancy of growth in the German market Hopefully the export would rebound in the market in the coming monthsrsquo Md Fazlul Haqe former president of the Bangladesh Knitwear Manufacturers and Exporters Association told New Age on Saturday

Daily News Flash 12th November 2017

16

Export earnings from the US the largest destination for Bangladeshrsquos exports in the July-October period of FY18 grew by 228 per cent to $187 billion from $183 billion in the same period of FY17 Apparel export to the market grew by 244 per cent to $168 billion from $164 billion The EPB data showed that the countryrsquos export earnings from Japan in the July-October period of FY18 fell by 394 per cent to $33390 million from $34760 million in the same period of FY17 Export earnings from China in the four months of the FY18 decreased by 2242 per cent to $22475 million from $28971 million in the corresponding period of last fiscal year Parvez said that the domestic consumption in China slightly decreased in recent times and global retailers also cut import orders from Bangladesh for their Chinese stores due to congestions in the Chittagong port lsquoWe are losing many orders from global brands as we have been failing to meet lead time due to the problem in the portrsquo he said Source httpwwwnewagebdnetarticle28200exports-to-eu-states-but-germany-post-encouraging-growth

REHAB LEADERS DEMAND CUT IN TAXES Realtors on Saturday urged the government to cut tax rates at different levels of the housing sector to give a much-needed boost to the sector They also requested the government not to raise question over the source of the minimum paid up capital (Tk 1 crore) a real estate company requires to be a member of the Real Estate and Housing Association of Bangladesh REHAB leaders made the requests at a joint meeting with the National Board of Revenue held in a city hotel on the day NBR chairman Nojibur Rahman attended the meeting as chief guest while REHAB president Alamgir Shamsul Alamin senior vice-president Nurun Nabi Chowdhury Shaon and vice-president Liakat Ali Bhuiyan were also present among others Alamgir said that the REHAB made it mandatory for its member companies to have Tk 1 crore paid up capital and he requested the government not raise question over that money The government earlier made it mandatory for all developer companies to be REHAB members Alamgir also urged the government to form a re-financing fund worth Tk 20000 crore under Bangladesh Bank to provide low-interest and long-term loans to the potential apartment buyers He demanded apartment registration fee to be reduced to 65 per cent from the existing 155 per cent mentioning that other SAARC countries maintained it at 4-7 per cent Alamgir said that the government was losing huge revenue due to the high apartment registration fee as buyers were showing unwillingness to register their apartments at high cost Nurun Nabi urged the government to meet the REHABrsquos longstanding demands to save the housing sector from ruination He also called for reducing corporate tax of non-public traded companies to 20 per cent from the existing 35 per cent He sought a cut in the tax on signing money to 75 per cent from the existing 15 per cent Alamgir also appealed for reducing tax rate on apartment resale to 3 per cent He also sought total 15 per cent tax and VAT on professional services like engineering and architecture from the current 27 per cent Nojibur said that an NBR-REHAB joint working group would be formed to work together for the betterment of the housing sector He also requested REHAB leaders to provide opinions on the income tax law that would be amended soon He assured them that the NBR would consider their demands Source httpwwwnewagebdnetarticle28201rehab-leaders-demand-cut-in-taxes

Daily News Flash 12th November 2017

17

BrsquoDESH BHUTAN START TRADE DATA SHARING IN JAN Bangladesh and Bhutan have decided to start exchanging export-import data from January 1 to verify trade documents to check duty evasion and other customs-related offences through misdeclarations of goods and prices during trades between the two countries The data will be mailed in the first week of the subsequent month according to the decision taken at the 3rd Bangladesh-Bhutan joint group of customs meeting held in November 7-8 in Thimphu the capital of the Himalayan kingdom Initially both sides will exchange export data of three commodities and gradually the scope will be expanded to all the export items Delegations from the both sides also agreed to boost the existing trade volume between the two countries and improve infrastructure at land customs stations of Bangladesh and Bhutan to facilitate border trade Bhutan informed the meeting that they were establishing a mini dry port at Phuentsholing which would boost border trade between the countries National Board of Revenue member (customs audit modernisation and international trade) Khondaker Muhammad Aminur Rahman and Bhutanrsquos Department of Revenue and Customs director Yonten Namgyel led the respective delegations at the meeting Following a request from Bangladesh Bhutan agreed to put necessary information including country of origin name and address business identification number and tax identification number of importer on the export packages as per the current Import Policy Order of Bangladesh Both sides also agreed to hold ground-level customs meetings twice a year alternately at Phuentsholing of Bhutan and Burimari of Bangladesh to resolve customs-related problems smoothly The two countries also decided to raise the issue of improving the infrastructure at Changrabandha (Indian LCS opposite to Burimari of Bangladesh) and Jaigaon (Indian LCS opposite to Bhutanrsquos Phuentsholing) to ensure smooth border trade between the countries Bangladesh also requested the landlocked kingdom to use Nakugaon-Dalu-Gelephu route for their imports and exports as Bangladesh has decided to upgrade Nakugaon LCS as a trade hub for border trade with India and Bhutan Bangladesh side also underscored the potentials of use of riverine routes as mode of transport for export and import of goods Bhutan may also get duty-free market access for limestone powder export to Bangladesh according to the decision of the meeting Mohammad Ehteshamul Hoque NBR first secretary of customs modernisation and international trade on Saturday told New Age that both countries had resolved some small-scale problems to facilitate bilateral trade and committed to further enhancing border trade The planned ground-level meeting of customs officials will also play a role in identifying and resolving bottlenecks in trade between the two nations he said According to the NBR data Bangladesh exported products worth $322 million to Bhutan in the fiscal year 2016-2017 while it imported from the country products worth $3315 million Bangladeshrsquos highest export earnings from the country were $913 million posted in the FY 2011-2012 and the earnings have been declining with fluctuations over the years Bangladeshrsquos major export items to Bhutan are bakery items fruit and vegetable juices tableware kitchenware and toiletry articles of plastics non-alcoholic beverages menrsquos singlets briefs pyjamas medicament mixtures rice aluminium structure and few garment items On the other hand the country imports mainly citrus fruits stone granite dolomite limestone ferro-alloys apple and gypsum from Bhutan Source httpwwwnewagebdnetarticle28202bdesh-bhutan-start-trade-data-sharing-in-jan

Daily News Flash 12th November 2017

18

TAX FAIRS AT ALL ZONES BEGIN TODAY Income tax fair begins today at all income tax zones across the country to provide taxpayers with services in a similar hassle-free atmosphere they got at recently-concluded countrywide weeklong tax fair National Board of Revenue chairman Md Nojibur Rahman on Saturday in a statement said that the decentralised fair at the zones with similar facilities like the weeklong national tax fair would continue till November 30 the last day of income tax returns submission Tax officials will also start issuing income tax ID cards from November 20 to the taxpayers under each tax zone in Dhaka Issuance of ID cards will continue till November 28 There are 31 income tax zones across the country including 15 in Dhaka and four in Chittagong Officials of the revenue board said that the NBR took the decision so that all taxpayers could file their tax returns without any hassle with maximum support from tax officials Initially the NBR planned to issue ID card from November 9 which was deferred due to lack of preparation Source httpwwwnewagebdnetarticle28203tax-fairs-at-all-zones-begin-today

BTRC LIKELY TO LOSE RIGHTS OVER UNUSED BALANCE IN BLOCKED SIMS Mobile phone operators are likely to get relief from paying the government the unused balance in the SIM cards that would be blocked by the telecom regulator for various reasons especially for illegal voice-over internet protocol calls Mobile operators however will have to return the unused balance to its owner if claimed said officials of Bangladesh Telecommunication Regulatory Commission They said that a proposed amendment to the 4G licencing guidelines that would be passed by the telecom regulator in the upcoming commission meeting following instruction from prime ministerrsquos ICT advisor and posts and telecommunication ministry The instruction was made based on a meeting between the mobile phone operators and the government high officials on the proposed 4G licencing guidelines they said As per the BTRC approved draft 4G licencing guidelines that would be revised it was mandatory for all the operators to pay the BTRC the remaining balance amount of the identified illegal prepaid VoIP callers and unsuccessful or fake SIM registration of service connection fund at the time of deactivating them It was also mentioned in the guidelines drafted earlier that there would not be any rights of the mobile network operators over the forfeited account balance of the illegal VoIP callers Whereas it was also mandatory for the operators to pay the remaining balance of such SIM cards within ten days of the following month In case of deactivation of SIM cards for illegal VoIP calls mobile operators would keep the remaining balance while operators would have to pay the balance to its owner if claimed for deactivation of SIM cards for any other reason Such specification about the unused balance would help the operators while the government would lose its rights over the forfeited fund BTRC officials said Such initiative might foil another BTRC move to take stand against the mobile phone operators for non-payment of unused balance in the SIM cards which were blocked by the telecom regulator for various reasons Countryrsquos leading mobile phone operator Grameenphone in February this year deposited Tk 733 crore to the telecom regulator against the unused balance in the connections that were blocked between 2008 and 2014

Daily News Flash 12th November 2017

19

While other operatorsmdash Banglalink Robi Airtel Citycell and Teletalk mdash were yet to pay any fund to the commission in this regard Airtel formerly known as Warid Telecom has already merged with Robi in November 2016 Apart from the unused balance issued the government acknowledged almost all the issues raised by the mobile phone operators about the 4G licencing guidelines BTRC officials said Source httpwwwnewagebdnetarticle28107btrc-likely-to-lose-rights-over-unused-balance-in-blocked-sims

BONDED WAREHOUSE BACK-TO-BACK LC SHOULD BE OPEN TO ALL EXPORTERS Bonded warehouse facility and back-to-back letter of credit facility should be open for all for the export of all sorts of goods to diversify export products said experts and businesses at a workshop on Thursday They came up with the observation while speaking at a stakeholdersrsquo consultation workshop on lsquoExport Diversification Challenges and Prioritiesrsquo organised by Bangladesh Enterprise Institute at IFIC Tower in Dhaka Commonwealth Secretariat adviser and head of international trade and regional cooperation Section Mohammad Razzaque presented a keynote paper on lsquoRevitalising Bangladeshrsquos export trade Policy issues for growth acceleration and diversificationrsquo Razzaque in his presentation said that there should be alternatives of diversifying export destinations and products to achieve $60 billion export target by the year 2021 Although the country has continued to achieve more than 6 per cent growth export to GDP ratio has declined a bit in last couple of years and to increase the ratio for sustaining economic growth there was no alternative to increasing exports he said To facilitate export diversification and ensure equal facility treatment among the exporters all the sectors should get bonded warehouse facility as well as back-to-back letter of credit facility that helped the countryrsquos readymade garment sector to grow Razzaque said Salman F Rahman private sector development advisor to prime minister also said that the bonded warehouse and back-to-back LC facilities should be opened for all to support other exporters Suggesting for the continuation of existing facility for the RMG sector Salman also president of BEI said lsquoWe need product diversification for the economic growth but not at the cost of RMG sectorrsquo Former Dhaka University economics department chairman Wahiduddin Mahmud said that the gov ernment should set a broad category and announce subsidy and cash incentives for longer period to help the sectors to contribute to exports as well as economic growth Speaking about the exchange rate issue the eminent economist also said lsquoAs balance of payment has turned negative the government should not try to control the exchange rate anymorersquo Centre for Policy Dialogue distinguished fellow Mustafizur Rahman said lsquoApart from diversification of other products intra-RMG sector product diversification is also important as we have created a strong foothold in the sector and itrsquos a one trillion dollar marketrsquo Speaking about the repeated change in policy Federation of Bangladesh Chambers of Commerce and Industry president Shafiul Islam Mohiuddin said lsquoElectricity price has been doubled with just a so-called hearing and that led our foreign partners to backtrackrsquo Speaking about the 070 per cent source tax imposed on apparel sector commerce minister Tofail Ahmed said rsquoAlthough we cannot do a lot for the sector but such tax should not remain on the sectorrsquo Source httpwwwnewagebdnetarticle28039bonded-warehouse-back-to-back-lc-should-be-open-to-all-exporters

Daily News Flash 12th November 2017

20

GOVT TO SPEND FUND FOR TOBACCO CONTROL MEASURES CAMPAIGNS The government has finally framed a policy on the use of health development surcharge it imposed on tobacco products three and half years ago The health and family welfare ministry on Wednesday issued the gazette notification of Health Development Surcharge Management Policy-2017 identifying 16 sectors for spending the fund on The fund will mainly be used for limiting the demand for and supply of tobacco products financing tobacco control activities conducting researches and campaigns and operating Tobacco Tax Cell of the National Board of Revenue The revenue board in July 2014 imposed 1 per cent surcharge on all tobacco products both locally produced and imported ones aiming to spend the fund for implementing the programmes to control and discourage the use of tobacco products and prevent tobacco-related diseases In the last three fiscal years (2014-15 2015-16 and 2016-17) the tax authority collected around Tk 900 crore as health development surcharge from tobacco products including cigarette bidi gul zarda and other smoking and chewing tobacco products But the fund remains idle as the health ministry has not got the access to the fund over the years as there was no policy on how to the money be used Officials of the revenue board said that formulation of the policy had paved the way for utilising the fund for tobacco control and prevention of tobacco-related diseases They said that every year around Tk 300 crore would be added to the fund According to the policy the collected surcharge will be used for financing national tobacco control activities operation of the NTCC under the ministry campaigns in the mass media on health hazards of tobacco products and tobacco control and providing trainings to stakeholders The fund will also be used for setting up National Quitline a hotline to help people quit tobacco consumption and providing financial and technical support to organisations for implementation of programmes to prevent tobacco-related non-communicable diseases Programmes will also be taken to create awareness among farmers against tobacco cultivation and motivate them to cultivate alternative crops according to the policy According to the policy a Health Development Surcharge Management Committee headed by the health minister will supervise the proper use of the fund The National Tobacco Control Cell will provide secretarial support to the committee Fund from other sources such as possible imposition of any surcharge on products hazardous to health in future and donations from local and foreign sources will also be added to the fund it said The expenditures from the fund will be audited in line with the methodology followed for the other government agencies it said According to the Global Adult Tobacco Survey-2009 some 413 crore people or 43 per cent of the total population of Bangladesh consume tobacco products On the other hand 430 crore people are victims of indirect smoking According to the World Health Organisationrsquos 2004 data 57000 people die every year in Bangladesh suffering from tobacco-related diseases The government has taken an initiative to make the country smoking free by 2040 Source httpwwwnewagebdnetarticle28040govt-to-spend-fund-for-tobacco-control-measures-campaigns

STUDY BLAMES MOBILE HUNDI FOR FALLING REMITTANCES THRU BANKING CHANNEL A study of Bangladesh Institute of Bank Management on Thursday blamed Hundi through mobile financial services including bKash Rocket mCash and UCash for decreasing remittance through banking channel

Daily News Flash 12th November 2017

21

The study conducted by a six-member team identified distance of bank branches delay in receiving money misconduct by bankers submission of various documents weekly holidays of banks and illegal immigrants as the reasons for increasing remittance inflow through mobile Hundi The six-member team headed by BIBM director Shah Md Ahsan Habib presented the study at the seminar presided over by BIBM director general Toufic Ahmad Choudhury held in the auditorium of the institute in the city lsquoIn Bangladesh remittances declined by an estimated 111 per cent in 2016 in the face of lower oil prices and fiscal tightening in the GCC countries Among other reasons use of Illegal channel by the expatriates is doing harm to our countryrsquo Bangladesh Bank deputy governor Shitangshu Kumar Sur Chowdhury said He said that it would not be possible to stop Hundi totally but BB is working to check the transactions through the illegal channel To ease the formal channel BB has reduced the security deposit requirement for the exchange houses abroad to make arrangements for remittances with local banks Shitangshu said The BB deputy governor hoped that Non-Resident Bangladeshis would come forward to know the importance of their money to be sent through banking channels BB former executive director Yasin Ali said that national economy was being hindered due to remittance inflow through illegal channels He suggested using mobile banking facilities for remittance inflow saying that the area of mobile banking expanded many fold in last five years Helal Ahmed Chowdhury former managing director of Pubali Bank suggested bankers to be courteous with bank customers Source httpwwwnewagebdnetarticle28041study-blames-mobile-hundi-for-falling-remittances-thru-banking-channel

POLICY SUPPORT MUST TO DIVERSIFY EXPORT BASKET Speakers on Thursday said that in order to diversify the countryrsquos export basket export-oriented businesses should be given the policy support that has proved highly successful in bringing vibrancy to the countryrsquos RMG sector They were speaking at a workshop styled ldquoExport Diversification Challenges and Prioritiesrdquo organised by Bangladesh Enterprise Institute (BEI) in the auditorium of International Finance Investment and Commerce Bank in Dhaka Dr Mohammad A Razzaque former head of International Trade Policy at Commonwealth Secretariat in London presented a keynote paper in the programme chaired by Salman F Rahman private sector development advisor to Awami League President and Prime Minister Sheikh Hasina Skill development measures may also play a vital part in this regard Salman said export diversification would be possible only when adequate and appropriate policy support is provided to all export-oriented industries Dr Razzaque in his keynote paper suggested revamping and deepening policy support such as providing cash assistance and bonded warehouse facilities to all such industries to improve their export competitiveness He also highlighted the need for further expanding Bangladeshrsquos export basket as its penetration into global export markets in the last decade was very insignificant Eminent economist Prof Wahiduddin Mahmud said ldquoIn addition to providing subsidies and cash incentives to thriving and promising sectors on a long-term basis the government should take measures to strengthen the countryrsquos manufacturing baserdquo

Daily News Flash 12th November 2017

22

Shafiul Islam Mohiuddin president of the Federation of Bangladesh Chambers of Commerce and Industry said the governmentrsquos support is a must to create a strong manufacturing base for export diversification ldquoSkill development measures may also play a vital part in this regardrdquo Addressing the event as the chief guest Commerce Minister Tofail Ahmed said export diversification depends on businessmenrsquos initiatives He however pledged all necessary support from the government for export diversification to meet the countryrsquos $60 billion export target by 2021 BEI President Farooq Sobhan emphasised engaging the private sector in relevant policy discourses to achieve the target ldquoA private sector-oriented policy mechanism is very important as rapid changes are taking place in the global trade landscape Understanding implications and generating timely policy responses to unfolding developments will be meaningful only when the private sector is able to benefit from themrdquo said Sobhan Among others Mustafizur Rahman a fellow at the Centre for Policy Dialogue Kazi M Aminul Islam executive chairman of Bangladesh Investment Development Authority Bijoy Bhattacharjee vice chairman of Bangladesh Export Promotion Bureau and Md Nojibur Rahman chairman of the National Board of Revenue also spoke Source httpwwwdhakatribunecombusinesseconomy20171109policy-support-must-diversify-export-basket

BANKS LACK REMEDIAL STRATEGY WHILE NPL RISES WORRYINGLY Some of Bangladeshs banks dont have in-depth look into the problem of spiraling non-performing loans (NPL) while many others try to frame remedial strategies perfunctorily Such observations came out from studies on banking as well as financial sector at large as the NPL surge worries many quarters One finding shows that around 11 per cent of the countrys banks did not have an in-depth look into the issue of NPLs in the past year despite a growing concern over the problem in the financial arena The recent industry-wide survey also revealed that around 30 per cent of the countrys banks had not assessed their past NPL-reduction strategies at all while 36 per cent did so only on an ad-hoc basis The findings came out from the survey of the Chief Risk Officers at the banks on issues concerning NPL strategy in their institutions Leading banking research and training institution Bangladesh Institute of Bank Management (BIBM) conducted the study The research findings come at a time when the ballooning NPLs is becoming a major issue with the countrys banking industry and also triggering concerns and criticisms As per the central bank data the volume of NPLs had increased by more than 21 per cent to Tk 62172 billion by the end of 2016 swelling from Tk 51371 billion a year before The findings are genuinely surprising as we are struggling to find a bank for which NPL is not an issue in some capacity said Sazib Azad Senior Advisor of BIBM who led the research initiative Furthermore if the bank itself is immune to the impact of NPL even then they need to consider whether they are immune from structural or market-level impacts as well he told the FE However relevant survey results show the potential lack of such considerations as only 10 per cent of bank CROs taking part in the survey said that their banks are addressing potential dependence on market assessment and strategy What is more surprising is that the NPL strategies of around 62 per cent of the banks are not signed off by the boards the survey found

Daily News Flash 12th November 2017

23

This is quite striking because given the severity of the non-performing-loan issue the NPL strategy should be signed off by the boards Mr Azad said adding Boards are not only accountable for the health of the banks but are also in position to release resources to get to grips with the issue In addition the survey result also revealed 31 per cent of the banks not communicating their NPL strategy across the bank NPL as an issue needs to be addressed from ground up But the results show that this is not happening at our banks said an expert who was involved with research Meanwhile 25 per cent of the CROs said they were not tracking the implementation and effectiveness of NPL strategy in their banks- something which according to experts is a cause of concern Given how critical an issue NPL exposure is we would expect every CRO to track how the NPL strategy is being implemented its effectiveness and how to improve matters to the Board Risk Committee and the Board the banking experts said Meanwhile the survey results also found that although 94 per cent of the banks had stress-tested their balance sheet in terms of NPL drag this figure drops to 56 per cent while considering the impact to and from the wider economy market and structural aspects It seems that 33 per cent of the banks do not formally consider this aspect with a further 11 per cent not looking at this dimension at all the researchers said Experts also noted that with Basel 3 farther putting capital under pressure sensible banks should dynamically model the impact of key risks to their capital However the survey results show 17 per cent of the banks are not doing so while 31 per cent doing it in a limited manner Asked whether their banks risk-appetite-statement metrics reflected their NPL strategy 36 per cent of the respondents said they do so in a limited capacity while a further 80 per cent are not doing that at all It was also found that 25 per cent of the C-Suites have specific NPL-strategy-related targets while 31 per cent of the CROs have the same Meanwhile when asked whether they consider their NPL strategy to be embedded just over half of them or 52 per cent of the survey participants said Yes This according to experts is clearly not fit for purpose given the severity of the NPL issue facing the banking sector The first step in looking into the NPL issue is to assess internal capabilities to effectively manage NPLs Next external conditions or operating environment needs to be considered Finally the capital implications of the NPL strategy need to be analyzed said Sajib Azad The findings of the survey will be shared with the stakeholders during the next CRO forum of BIBM expected to take place next month where the issue of Risk Culture will also figure high The biggest reason for the swelling of NPL in our banking sector is a lack of good governance To check the ballooning of NPL the internal governance of the banks has to be strengthened above all Director-General of BIBM Toufic Ahmad Choudhury said Meanwhile the survey also found banks tending to consider time-horizon portfolio segment and exposure-level-based targets to be broadly equally important to their NPL strategy In terms of options preferred for reducing NPL banks consider change of exposure type to be most effective (36 per cent) followed by active portfolio reductions (33 per cent) and hold forbearance (31 pe rcent) Source httptodaythefinancialexpresscombdfirst-pagebanks-lack-remedial-strategy-while-npl-rises-worryingly-1510417700

GOVT SEEKS US$183B UNDER 39TH JAPANESE ODA PACKAGE The government has sought around US$183 billion worth of assistance from Japan for bankrolling six development projects officials said Saturday

Daily News Flash 12th November 2017

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Officials at the Ministry of Finance (MoF) said they have already discussed the issue with the Japan International Cooperation Agency (JICA) We are hopeful of receiving funds under its upcoming 39th Official Development Assistance (ODA) package to finance six development projects a senior MoF official told the FE He said a JICA mission in September-October last completed its visit to Bangladesh to explore the possibilities of financing the proposed projects We are hopeful of signing the 39th ODA package with JICA within a couple of months he said After signing the loan deal the largest bilateral donor will start disbursement of funds from the proposed $183 billion aid package for the six development projects the MoF official added The proposed six projects under the 39th ODA package are Matarbari port development Dhaka MRT line-6 construction (phase-III) Dhaka MRT line -5 feasibility study Matarbari ultra super critical coal-fired power plant (phase-IV) Jamuna Railway Bridge construction and Health service strengthening project A senior official of Economic Relations Division said the proposed 39th ODA package will be very useful for Bangladesh as it will be utilised to develop the Matarbari port ongoing Matarbari power plant project conduct feasibility study and detailed design of the MRT line-5 in Dhaka and to construct railway bridge over the River Jamuna All of these projects are very important for the country to ensure smooth transportation and uninterrupted power supply he added Japan is the largest bilateral development partner of Bangladesh Over last 5-6 years it has enhanced its aid with confirmation of more than US$10 billion worth of funds under each of the aid packages In the last 38th ODA package signed in June 2017 JICA provided Yen 178223 billion ($164 billion) for utilising in six development projects on transport infrastructure power and water sector improvement works In June 2016 Japan signed the 37th ODA deal worth $150 billion (17354 billion Japanese Yen) with Bangladesh and in December 2015 it inked the 36th ODA package confirming $12 billion concessional loan for six development projects Under the last 38th ODA package JICA offered $700 million (Yen 76825 billion) for Hazrat Shahjalal International Airport Expansion project $480 million (Yen 5273 billion) for 2nd Kanchpur Meghna and Gumti bridges construction $50 million (Yen 5593 billion) for Dhaka Mass Rapid Transit development project (Line 1) $100 million (Yen 10745 billion) for Matarbari ultra super critical coal-fired power plant $190 million (Yen 20477 billion) for Dhaka underground substation construction project and $110 million (Yen 11853 billion) loan for small scale water resources development project Japan has so far provided Bangladesh with nearly US$12 billion in assistance since the financial year (FY) 1971-72 Source httptodaythefinancialexpresscombdfirst-pagegovt-seeks-us183b-under-39th-japanese-oda-package-1510417739

SUMMIT GROUP ENTITIES TO ISSUE PREFERENCE SHARES WORTH $1250M A subscription closing ceremony to raise capital through issuance of preference shares worth BDT 1000 million (USD 1250 million) for Summit Barisal Power Limited amp Summit Narayanganj Power Unit II Limited was held recently at Pan Pacific Sonargaon Dhaka said a statement LankaBangla Finance Limited acted as the Mandated Arranger LankaBangla Investments Limited acted as the Issue Manager and The City Bank Limited acted as the Agent Account Bank amp Custodian Bank to raise the fund In the event Mr Lt Gen (Retd) Engr Abdul Wadud Managing Director of Summit Barisal Power Limited amp Summit Narayanganj Power Unit II Limited Mr Khwaja Shahriar Managing Director amp

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CEO of LankaBangla Finance Limited Mr Mohammed Nasir Uddin Chowdhury Managing Director of LankaBangla Capital Market Operations Mr Mominul Islam Managing Director amp CEO of IPDC Finance Limited Mr R Q M Forkan Managing Director amp CEO of Bangladesh Commerce Bank Limited Mr Faruq M Ahmed Additional Managing Director of Trust Bank Limited Mr Akthar Hamid Khan Deputy Managing Director of Pubali Bank Limited Mr Arif Hasan Khan Vice President of Modhumoti Bank Limited Mr Mohammad Ibrahim Khalil FCA Vice President amp CFO of Bank Asia Limited and Mr Mahbub Jamil Vice President and Head of Structured Finance of The City Bank Limited along with other senior officials from the companies were present Source httptodaythefinancialexpresscombdstock-corporatesummit-group-entities-to-issue-preference-shares-worth-1250m-1510411878

BMBA URGES MUHITH TO EXEMPT INVESTMENTS BY MF SPONSORS Bangladesh Merchant Bankers Association (BMBA) has urged the finance minister to exclude some components including sponsors investments in mutual funds (MFs) from the banks exposure to the capital market It made the request for ensuring an environment conducive to gradual development of the capital market according to a proposal submitted to Finance Minister AMA Muhith last week The BMBA said the long-term or strategic investments needed to be excluded while calculating the exposure as these investments were not intended for frequent trading Non-convertible preference shares and non-listed securities also need to be excluded from the capital market exposure as it will never influence the capital market volatility it said in a letter to the minister According to the letter the MFs are passive investments where investors themselves are not involved in investment decision making and such fund portfolios are mostly of long-term nature than frequent trading On the other hand the sponsors of the MFs need to hold 10 per cent of the investment until liquidation of the fund So considering the fact the sponsors portions in MFs need to be excluded from the banks capital exposure said the BMBA proposal As per the Banking Act 1991 it said reporting requirement is on solo basis but the central bank has introduced consolidated calculation which is of dual effectdouble counting in the market exposure This kind of restrictive measure creates panic situation in the market and may hinder the potentials and prospects of the capital market as a whole the BMBA said It also said that this kind of practice needed to be stopped as such requirements and reporting practice would further squeeze the market and that the investors would lose their interest The BMBA said some organisations have invested on strategic purpose and were holding positions in the board and their exposure increased with rising the market price of MF units On the other hand in compliance with the securities rules they are unable to sell shares to reduce exposure the BMBA said terming the situation complicated In its letter the BMBA said that the capital market exposure of some banks and financial institutions increased without fresh investments following the upward trend of the market price as the exposure is calculated on the basis of market price If the banks need to go for selling off their excess exposure this will create unnecessary selling pressure on the market said the BMBA The association requested the finance minister to consider their proposal to facilitate the growth of the capital market by its own strength and prospect Source httptodaythefinancialexpresscombdstock-corporatebmba-urges-muhith-to-exempt-investments-by-mf-sponsors-1510411950

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ATIUR STRESSES ROLE OF REGULATORS IN DIGITAL FINANCIAL INCLUSION Former Bangladesh Bank Governor Dr Atiur Rahman chairs a session at the 5th Biennial Competition Regulation and Development Conference at Jaipur in India on Thursday Success of digital financial inclusion depends on the prudent role of the regulating bodies to a great extent And the recent progress in Bangladesh in this regard is a good example for the rest of the world to follow said Dr Atiur Rahman former governor of Bangladesh Bank says a statement He was chairing a session at the 5th Biennial Competition Regulation and Development Conference at Jaipur India on Thursday The three-day conference is being hosted by CUTS International and OECD Speakers of the session included Ravinder S Aurora Senior Vice President of Mastercard David Ongolo Kenyan Competition Authority and Dr A K EnamulHaque Professor of East West University Dhaka Many developing countries survived and even thrived during the last global financial crisis because they chose to follow a broad-based financial inclusion strategy And digital solutions played a crucial role in this financial inclusion drive said Dr Rahman He added that service providers must focus on reaching out to the customers in the rural socio-economic conditions Dr Rahman said that experience from Bangladesh can answer many of the burning questions regarding digital financial inclusion The central bank of the country has facilitated bank-led digitisation drive Be it Mobile Financial Service or be it Agent Banking the Bangladesh Bank has encouraged traditional players (ie the commercial banks) to lead the way And it has been proven to be very successful He also said that the world is witnessing only the beginning of the digital finance revolution Hence we must learn from all these experiments share our experiences and know-hows Only then we can work towards shaping global standards and practices Dr Rahman finally asked all central banks to be more proactive and collaborative with other stakeholders including non-traditional financial service providers to facilitate orderly development of digital financial inclusion so that consumers interests are better protected The grievance redressal mechanism developed in Bangladesh Bank with infusion of state of the art technology to gain trust of the customers in financial inclusion was also discussed widely in the session The panelists highly appreciated Bangladeshs regulatory move with public interest in mind using latest technology for replicable digital financial inclusion Source httptodaythefinancialexpresscombdtrade-marketatiur-stresses-role-of-regulators-in-digital-financial-inclusion-1510416319

FAO FEARS NEGATIVE BD FOOD OUTPUT GROWTH ON FLOODING Recent flooding has dampened the outlook for Bangladesh a likely third successive season of little or negative food production growth mainly rice reports UNB quoting FAO Barring major setbacks production recoveries could instead permit Bangladesh and Sri Lanka to slightly lower their 2018 imports to 11 million and 450 000 tonnes respectively according to the latest Food Outlook published by the UN Food and Agriculture Organisation (FAO) Among other rice importers Bangladesh Iraq Nigeria and the Philippines are all similarly predicted to replenish their inventories according to the report a copy of which obtained by the news agency These gains are however likely to be offset by stock reductions in the Republic of Korea Madagascar Sri Lanka and the United Republic of Tanzania all linked to output shortfalls Although the use of rice as animal feed is being sustained by the release of supplies from government granaries in Japan the Republic of Korea and Thailand more affordable feedstuffs are expected to displace rice in most other countries especially in Bangladesh China (Mainland) and Vietnam

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Since the previous Food Outlook report a series of unfavourable climate-related events have affected main paddy crops in the Northern Hemisphere which have now reached the harvesting stage This has been the case in Asia where unlike 2016 the critical Northern Hemisphere summer months were characterised by mixed growing conditions that inhibited planting expansions As a result FAOs latest forecast of world rice production in 2017 points to a broadly stable output level of 5008 million tonnes Production in Asia is now forecast to fall 550 000 tonnes below the 2016 bumper harvest to 4525 million tonnes The UN agriculture agency has said the cost of importing food is rising in 2017 driven by increased international demand for most food stuffs as well as higher freight charges The cost of importing food is forecast to rise six per cent in 2017 to $1413 trillion making it the second highest bill on record while food commodity prices have been generally stable according to the latest Food Outlook that expressed concern about the economic and social impact of this trend on poor countries Although weather disruptions are set to stall production growth this season global rice supplies are still forecast to exceed utilisation enabling a small expansion of world rice inventories Global trade is expected to rise only modestly in 2018 after staging an 8 per cent recovery in 2017 The food import bills are set to increase by double-digit rates for least-developed countries (LDCs) and low-income food-deficit countries Aromatic rice varieties have risen eight times faster than the FAO All Rice Index which is up four per cent on the year However the higher import costs come at a time when inventories are robust harvest forecasts are strong and food commodity markets remain well supplied The export of tropical fruits is promising for poverty relief and rural development as almost all production takes place in developing countries The export volumes of mango pineapple avocado and papayas are on course to achieve a total combined value of $10 billion this year according to the Food Outlook Source httptodaythefinancialexpresscombdfirst-pagefao-fears-negative-bd-food-output-growth-on-flooding-1510336161date=11-11-2017

STOCKS NUDGE HIGHER AS BANK TELECOM ISSUES SURGE Stocks extended the winning streak for the two consecutive weeks that ended Thursday as enthusiastic investors continued their buying appetite on bank and telecommunication issues Market operators said the positive momentum in some large-cap issues especially from banking telecom pharmaceuticals and food amp allied sectors helped the bourse to stay upbeat The banking sector posted the highest return of 445 per cent as 27 out of 30 listed banks ticked higher Four banks gained more than 10 per cent each The telecom sector also surged 342 per cent as Grameenphone the countrys largest market-cap listed companys shares price jumped 40 per cent to close at Tk 45690 each The market extended the winning streak riding on heavyweight bank and telecom issues said an analyst at a leading brokerage firm The week featured five trading sessions as usual Of them first session saw marginal correction while last four closed higher Week-on-week DSEX the prime index of the Dhaka Stock Exchange (DSE) jacked up by 9454 points or 155 per cent to finish at 6193 The two other indices -- the DS30 index and the DSE Shariah Index (DSES) - also closed higher at 2244 and 1341 points

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Both the indices added 4264 points and 1218 points respectively During the week banking pharmaceuticals and telecommunication sector stocks contributed more to keep the market up commented City Bank Capital Resources a merchant bank in its weekly analysis The port city bourse Chittagong Stock Exchange (CSE) also ended higher The CSCX advanced 180 points or 156 per cent to finish at 11618 International Leasing Securities a stockbroker noted that the market observed an upbeat vibe throughout the week riding on the news of soaring of net foreign investment in the capital market in the first 10 months of 2017 compared to the same period of last year Net position of foreign portfolio with the DSE stood at Tk 1623 billion in January-October compared to Tk 80 billion in the same period a year ago However some investors were reshuffling their portfolios after observing the year-end corporate declarations and first quarter earning disclosures the stockbroker added According to EBL Securities The market witnessed an upbeat tune throughout the week riding on regained confidence among the market participants The stockbroker noted that preferable year-end and quarter-end earnings declarations by several companies helped them to remain positive about market The total turnover for the week amounted to Tk 3591 billion on the DSE which was Tk 3027 billion in the week before The daily turnover averaged Tk 718 billion which was nearly 19 per cent higher than the previous weeks average of Tk 605 billion Block trade accounted for 16 per cent of the total weekly turnover where stocks like BATBC Beximco Pharma Shahjalal Islami Bank Square Pharma and Singer Bangladesh dominated the block trade board Banking sector kept its dominance over the turnover chart grabbing 35 per cent of the weeks total transaction followed by engineering with 18 per cent and pharmaceuticals 11 per cent Out of 336 issues traded 207 closed lower 116 ended higher and 13 issues remained unchanged on the DSE trading floor during the week The market capitalisation of the DSE rose 137 per cent as it was Tk 4123 billion on the opening day of the week and it stood at Tk 4179 billion on closing day of the week City Bank topped the weeks turnover chart with 5390 million shares worth Tk 184 billion changing hands followed by IFAD Autos with Tk 121 billion Brac Bank Tk 10 billion LankaBangla Finance Tk 994 million and Dhaka Bank Tk 926 million Reckitt Benckiser was the weeks best performer posting a gain of 1925 per cent while Stylecraft was the weeks worst loser slumping by 3322 per cent A new issue - Oimex Electrode-- made debut last week and soared 1042 per cent from its offer price of Tk 10 in the first trading day on Monday Source httptodaythefinancialexpresscombdstock-corporatestocks-nudge-higher-as-bank-telecom-issues-surge-1510332934date=11-11-2017

BANGLADESH GROWING AS DENIM HUB The growing global demand for fashionable denim wear encouraged both local and foreign entrepreneurs to make fresh investment in Bangladesh participants and organisers of Bangladesh Denim Expo have said Many of the 30 local denim mills are going for expansion while a couple more will come into operation with fresh investment within next two or three years they said Some foreign companies are opening offices or setting up factories in Bangladesh they added The seventh edition of the two-day Bangladesh Denim Expo was held in the city recently with the theme transparency to highlight the need for transparency in the entire denim supply chain

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A total of 65 exhibitors from 12 countries participated in the show while more than 12 thousand visitors from across the world registered online to attend the two-day expo organisers said Talking to the FE on the sidelines of the expo Md Khalid Mosharof assistant general manager at Dekko Group said the group invested Tk 15 million in setting up a new factory of 44 lines at Ashulia that would go for denim item production in June next The main reason is to tap the growing global demand he said Echoing him Syeed Ahmed Chowdhury general manager operation at Square Denim said the company expanded its denim fabric production capacity to 30 million yards from the existing 15 million yards per month mainly to meet the demand He however opined that the expansion is taking place more in garment segments than in fabric production There is no alternative to expansion to sustain the existing business and achieve the $50 billion garment export earnings target by 2021 Sharif Zahir managing director of Ananta Group said stressing the need for positive branding of the sector Meanwhile Landes a German denim accessories maker started production in its new factory at Savar from this month It invested US $05 million We opened the factory in Bangladesh as we think this is the hub for denim business and there is a lot of business prospects here Manfred Slowik chief operating officer of Landes told the FE at his stall at the expo By the end of next year the total workforce in our new plant will be 120 people as we are recruiting new people from existing 30 Mr Slowik said Landes has a target to produce 500 million pieces of leather patches used in denim trousers as accessories in a year at its Savar plant from where such accessories will be supplied to the whole Asian region Many big brands like HampM VF and Walmart are their customers he said Nezahat Boni senior account manager of Orta a Turkish denim maker said her company supplies 30 million metres of denim fabrics in Bangladesh in a year against only 800 meters in 2011 We opened an office in Bangladesh in 2011 as we cannot ignore the importance of this country as a denim hub she said Prosperity Textile a Chinese company opened its office in Dhaka last year said Md Mujibul Hoque the companys Bangladesh Sales Director The company has targeted sale of 100 million yards a year across the globe while it also targets 30-40 per cent of their sales in Bangladesh Bangladesh is now the top denim products supplier to the European Union overtaking China and third largest to the US after China and Mexico industry people said Bangladesh supplies denim products to major global buyers and retailers including levis G-Star Raw HampM Tesco Wrangler Hugo Boss Walmart and Gap Source httptodaythefinancialexpresscombdtrade-marketbangladesh-growing-as-denim-hub-1510332061date=11-11-2017

EXPORTS UP 70PC IN JULY-OCTOBER Countrys export earnings grew by 703 per cent to US$1150 billion during first four months of the current fiscal year (FY 2017-18) according to official data released Thursday The earnings were $1079 billion in the same period (July-October) last FY In October 2017 the exports grew by 642 per cent to $284 billion the Export Promotion Bureau (EPB) data showed The overall exports in the first four months slightly (074 per cent) fell short of the periods target In October however the exports were 628 per cent higher than the months strategic target Readymade garment shipments fetched $943 billion marking 699 per cent growth during the period as compared to $882 billion in the same period of last FY

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The woven items registered 385 per cent growth in earnings to $445 billion than that of $428 billion in the same period of FY 2016-17 The earnings from knitwear export during the period grew by 995 per cent to $498 billion from $453 billion in the corresponding period of last FY Jute and jute goods exports rose by 1646 per cent to $34501 million from $29626 million in the same period of FY17 The earnings from agriculture products grew by 2022 per cent during the period while home textiles by 2037 per cent The earnings from leather and leather products however fell marginally by 002 per cent to $42844 million during the period than that of $42851 million in the same period last FY The export earnings from frozen food and live fish grew by 1541 per cent to $22691 million from $19661 million of the corresponding period of last fiscal Mahmud Hasan Khan vice president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) said the exports in the first four months of the current fiscal year fell short of the expected growth mainly because of failure in maintaining the lead time and short supply of gas and electricity Terming the knitwears growth satisfactory he said woven items manufacturers have been struggling to cope with the new challenge as buyers were reducing the volume of orders due to failure in meeting the lead time Without efficient port and strong backward linkage industry especially for the woven sub-sector it will be difficult for the sub-sector to bounce back he feared He pointed out that maximum of the woven fabric requirements were being met through imports But it was taking too much time to clear the imported fabrics and additional charges as a result at the Chittagong seaport that was facing unbearable congestion The government should provide necessary policy support to the exporters to establish strong backward linkage industry for the woven sub-sector he added Source httptodaythefinancialexpresscombdfirst-pageexports-up-70pc-in-july-october-1510248870date=10-11-2017

GAS CRISIS HURTING OUTPUT IN INDUSTRIAL BELT Factories in the countrys Tongi-Gazipur industrial belt have been facing acute gas crisis over the past few months following diversion of gas to upstream power plants The crisis has deteriorated further this week albeit some improvements for a few days last week said local industrialists and businessmen According to them if the ongoing gas crisis persists they may be forced to shut down their factories Officials of the Titas Gas Transmission and Distribution Company Limited (TGTDCL) however blamed the Petrobangla for the gas crunch Sources concerned say the industrial belt of Tongi-Gazipur is suffering badly for about four to five months from low pressure of gas coupled with poor electricity voltage -- often resulting in huge volume of industrial wastages and reduction of production efficiency According to the industry insiders a factory in the industrial belt requires 04 PSI (production per square inch) as optimum gas pressure but the pressure at times comes down to as low as 01 PSI these days -- especially during the daytime Gas pressure in the area becomes normal around 10pm11pm and stays for not more than 08 hours until 6am7am an entrepreneur of the industrial belt informed Asked an official of Titas said they are at present getting nearly 250 million cubic meters (MCM) less in recent weeks against their current demand of 1800 MCM gas in Titas franchise The downstream Titas franchise area covers greater Dhaka region which includes Gazipur alongside some other adjoining districts and greater Mymensingh he said

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A Petrobangla source however cited gas supply on priority basis to a number of upstream projects including power plants as reason behind supply shortage When asked Managing Director of Akij Group Sk Bashir Uddin termed the situation really worrisome According to him two of Akij Group companies situated in the area -- Akij Printing amp Packages Limited and Dhaka Tobacco Industries -- jointly contributed nearly Tk 35 billion (3500 crore) to the national exchequer in the 2016-17 fiscal year But were very much worried about our industrial output this year as production disruption following the twin crises involving gas supply and power supply Both will eventually disrupt our retail business in every phase he quipped This often results in a high rate of industrial wastage and reduction of production efficiency he added Bangladesh Auto Re-rolling Steel Mills amp Association Chairman Manwar Hossain who is also Anwar Group Managing Director echoed the same concern Factories in the industrial belt are now operating at one-third of their capacity which may lead to labour unrest and default of huge sum of bank loans he said Such disruption of production he cautions may even cause sudden shutdown of factories According to him none of the victims in that case will be the wilful defaulters -- they will be the victims of circumstances The businessman who has a steel factory called Anwar Ispat Limited in the industrial belt called for immediate introduction of ECM (electronically controlled meters) to check unabated gas engineering in the area which he deems to be yet another reason for gas supply crunch Titas officials according to him are encouraging co-generation scheme to help address the severe gas crisis But he said co-generation will require stable and smooth gas supply Government should ensure at least 10-15 years of smooth gas supply to encourage co-generation as what he said any industrial investment requires 20 years of payback period TGTDCL Deputy Managing Director Engineer Abdul Wahab Talukdar who is also the Project Director of Sripur-Joydevpur Transmission Pipeline Project said We cannot do anything to address the crisis if there is a lack of adequate gas supply Mentioning that all factories in the industrial belt are like my babies he unequivocally said Titas is not at fault He also admitted that priority-based power plants gas supply being the reason behind the current spell of gas crunch We have already started introducing electronic volumetric corrector (EVC) to stop illegal gas use in the area he said Factories he added should go for co-generation scheme for protecting their own interest Co-generation means utilising and absorbing heat generated from gas generators which Mr Wahab said will save energy A section of the businessmen however called for stopping fertiliser production and distributing the same among people at a subsidised price after importing it to facilitate smooth supply of gas to other industries Even if the government stops fertiliser production and opts for importing it for distribution at a subsidised rate there will only be an insignificant loss compared to the overall losses now being incurred said an industrialist who has more than one factory in the industrial belt Local sources said illegal and unapproved gas connections in various industries in and around the zone are also affecting gas supply badly among other reasons Source httptodaythefinancialexpresscombdfirst-pagegas-crisis-hurting-output-in-industrial-belt-1510249018date=10-11-2017

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SINGLE PERSON MAY FORM COMPANY A single person may form a commercial firm under a provision of the companies law being updated along with some other major business-stimulating measures Official sources said the government is considering incorporating some new provisions including one allowing individuals to form any company into the updated Companies Act The other provisions are formation of an appellate tribunal to resolve legal matters without wasting much time widespread automation of companies work and submission of annual company reports online Earlier the Ministry of Commerce (MoC) had received some recommendations from the stakeholders on how to update the law they added We got most of the recommendations from the stakeholders We hope we will be able to prepare the draft Companies Act within a month Md Obaidul Azam director trade organisations (DTO) told the FE He said the recommendations the ministry had received so far were being scrutinised before preparing a draft for updating the companies act Earlier different trade bodies had sent their respective recommendations to the MoC for incorporation into the law The MoC will hold a meeting with the countrys apex trade body after assessing the recommendations and suggestions the ministry official said Talking to the FE a leader of an influential trade body said they had sent some recommendationssuggestions to the MoC for the new Companies Act for betterment of the countrys trade and business According to Section 2 (1) (c) of the Companies Act 1994 Company means a company formed and registered under this Act or an existing company Thus a company is an association of persons formed under the Companies Act 1994 with a view to achieving some common objectives Though a company is regarded a legal person it possesses similar rights and owes similar obligations like a natural person Now any individual fulfilling the new criteria may be allowed to form a firm Source httptodaythefinancialexpresscombdfirst-pagesingle-person-may-form-company-1510249090date=10-11-2017

DSE TURNOVER CROSSES TK 80 BILLION MARK The daily turnover on Dhaka Stock Exchange (DSE) exceeded the Tk 80 billion mark on Thursday as investors took fresh exposure to the banking sector Turnover a crucial indicator of the market reached Tk 870 billion on the countrys premier bourse jumping 14 per cent from the previous days transaction of Tk 765 billion It was the biggest single-day transaction since October 11 when the turnover totalled a record Tk 1092 billion Along with rising turnover DSEX the prime index of the Dhaka bourse continued to keep its gaining momentum closing 3449 points higher at 6193 points DSEX which replaced the DGEN in nearly five years back added more than 121 points or 20 per cent in the past four consecutive sessions The two other indices -- the DS30 index and the DSE Shariah Index (DSES) -- also followed suit to end at 2244 and 1341 points after gaining 1422 points and 443 points respectively Brokers said the market maintained the bullish trend for the four straight sessions as the enthusiastic investors chased the banking sector stocks The market continued the bullish trend for the four consecutive sessions as the enthusiastic investors were active for the banking food and engineering sector stocks commented EBL Securities a stockbroker in its regular market analysis

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It noted that the core index remained positive throughout the session as optimistic investors kept buying sector-wise stocks while some rebalanced their portfolios Meanwhile share price of newly listed Oimex Electrode continued to decline for the three consecutive sessions after unusual hike during its debut trading on Monday The companys share price fell 763 per cent to close at Tk 9810 on Thursday after jumping more than tenfold during the debut trading which experts termed unusual Block trade contributed Tk 241 million to the days total turnover with stocks like BATBC Square Pharmaceuticals Singer Bangladesh and Beximco Pharma dominating the block trade board Among the major sectors pharmaceuticals posted the highest gain of 122 per cent followed by banking sector (083 per cent) food amp allied (067 per cent) engineering (033 per cent) financial institutions (003 per cent) and power (003 per cent) Only telecommunication sector faced a 045 per cent correction A total number of 0140 million trades were executed in the days trading session with trading volume totalling 23171 million securities The total market capitalisation of the DSE stood at Tk 4179 billion against Tk 4168 billion in the previous session Losers however took a modest lead over the gainers as out of 325 issues traded 140 closed lower 130 closed higher and 55 remained unchanged on the DSE trading floor City Bank dominated the turnover chart for the second day in a row with 1035 million shares changing hands closely followed by Dhaka Bank LankaBangla Finance Brac Bank and Keya Cosmetics Reckitt Benckiser was also the days best performer posting a gain of 624 per cent while Qasem Drycells was the days biggest loser shedding 1235 per cent The port city bourse Chittagong Stock Exchange (CSE) also ended higher with its Selective Categories Index -- CSCX --gaining more than 62 points to close at 11618 Losers beat gainers as 113 issues closed lower 97 closed higher and 37 remained unchanged on the CSE The port city bourse traded 1604 million shares and mutual fund units generating a turnover of Tk 483 million Source httptodaythefinancialexpresscombdstock-corporatedse-turnover-crosses-tk-80-billion-mark-1510245247date=10-11-2017

TEN COS GRAB 32PC TURNOVER ON DSE The banking sector continued to dominate the transaction chart of the Dhaka Stock Exchange (DSE) accounting for 39 per cent of the total turnover on Thursday Four banks made their way to the top 10 turnover chart with City Bank leading the chart for the second day in a row Brokers said the investors chased the banking sector issues as more than 63 per cent of listed banks showed positive earnings in the third quarter (July-September period) Meanwhile top 10 traded companies including four banks grabbed more than 32 per cent of turnover on the Dhaka bourse The total turnover on the premier bourse reached Tk 870 billion up 14 per cent from the previous days Tk 765 billion The most active shares in terms of value included City Bank Dhaka Bank LankaBangla Finance Brac Bank Keya Cosmetics Square Pharmaceuticals Beximco Pharmaceuticals IFAD Autos Exim Bank and IDLC Finance According to statistics available with the DSE about 1035 million shares of City Bank were traded generating a turnover of Tk 553 million or 635 per cent of the total transactions

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The companys share price hovered between Tk 5240 and Tk 5440 before closing at Tk 5390 advancing 228 per cent over the previous session Dhaka Bank came in next with shares of Tk 395 million changing hands contributing 454 per cent to the total turnover The banks share price closed 347 per cent higher at Tk 2380 LankaBangla notched the third spot with shares of Tk 266 million changing hands making up 305 per cent of the total turnover Its share price ended 063 per cent higher at Tk 6430 Brac Bank emerged the fourth with shares of Tk 257 million changing hands grabbing 295 per cent of the total turnover The banks share price settled 123 per cent higher at Tk 107 Keya Cosmetics featured a turnover of Tk 247 million or 284 per cent of the total turnover Its share price closed 201 per cent higher at Tk 1520 The turnover of Square Pharma was Tk 241 million or 276 per cent of the total transaction Its share price ended 612 per cent down at Tk 27890 Beximco Pharma featured a turnover of Tk 211 million or 242 per cent of the total turnover Its share price advanced 428 per cent to close at Tk 10960 The turnover of IFAD was Tk 208 million accounting for 238 per cent of the total turnover Its share price closed at Tk 14070 gaining 195 per cent Exim Bank featured a turnover of Tk 196 million or 225 per cent of the total transaction The banks share price inched up 055 per cent to close at Tk 1830 IDLC also made its way to the top ten turnover chart with shares of Tk 188 million changing hands Its share price closed 223 per cent higher at Tk 9150 Source httptodaythefinancialexpresscombdstock-corporateten-cos-grab-32pc-turnover-on-dse-1510245290date=10-11-2017

FOREIGN INVESTMENT HIKE INFO DRIVES MODERATE GAINS ON DSE The Dhaka bourse Thursday closed the session posting a moderate rise in the broad index and turnover amid mixed performance displayed by major sectors On the day most of the major sectors declined but the turnover crossed Tk 80 billion-mark after two sessions on Dhaka Stock Exchange (DSE) mainly because of investors increased participation in the banking sector According to a market review of International Leasing Securities positive momentum in some big-cap stocks especially from bank food and engineering sectors helped the bourse to close in green The market started the session with a positive note and the DSE broad index DSEX witnessed little ups and downs before closing higher According to AT Capital Partners the market remained sideways till the midsession The DSEX rose again in the second half of the session and closed at 61936 up by 345 points The shariah based index DSES and blue chip index DS30 also rose marginally The turnover stood at above Tk 870 billion which was 1370 per cent higher than the turnover of the previous session The confident drive was initiated by the investors buying spree riding on the news of doubling net foreign investment in stocks year-on-year in the first ten months of 2017 said the International Leasing SecuritiesAmong the gaining sectors bank advanced 08 per cent and engineering 03 per cent Of the losing sectors pharmaceuticals amp chemicals declined 11 per cent telecommunication 05 per cent and textiles 09 per cent The banking sector grabbed 384 per cent of the market turnover at the premier bourse DSECity Bank topped the turnover chart with a value of Tk 553 million followed by Dhaka Bank LankaBangla Finance BRAC Bank and Keya CosmeticsReckitt Benckiser (Bd) limited topped the gainers chart with a rise of 624 per cent to close at Tk 18456 while Quasem Drycells was the worst loser after declining 1235 per cent to close at Tk 8230 Source httptodaythefinancialexpresscombdstock-corporateforeign-investment-hike-info-drives-moderate-gains-on-dse-1510245365date=10-11-2017

Daily News Flash 12th November 2017

35

MORE JAPANESE COMPANIES SEEK TO INVEST IN BANGLADESH Japanese Ambassador to Bangladesh Hiroyasu Izumi has said the Japanese investors are keen to invest in Bangladesh considering the lucrative offer and ideal atmosphere for foreign investment reports BSS The Japanese investors expressed more interest to invest in Bangladesh at recently-held the third round of Public-Private Economic Dialogue between Bangladesh and Japan he said while visiting the Chittagong Export Processing Zone (CEPZ) on Thursday The envoy expressed the hopes that Japanese investment in the Export Processing Zones (EPZs) will increase after the successful dialogue said a press release More and more Japanese companies will come to invest in this country he added General Manager of CEPZ Khorshid Alam maed a PowerPoint presentation highlighting the overall scenario of EPZ as well as Bangladesh Export Processing Zone Authority (BEPZA) Mentioning Bangladesh EPZs as the Bonanza for Investors he said investors from 38 countries have set up industries in the EPZs and invested US $442 billion He informed the ambassador that BEPZA has ensured three layer security system including 24-hour CCTV surveillance in the key points of EPZ and factory premises for the safety of the investors Source httptodaythefinancialexpresscombdtrade-marketmore-japanese-companies-seek-to-invest-in-bangladesh-1510250285date=10-11-2017

Source httpwwwarthosuchakcomarchives388209

১৬০

১১৫ ৪ ৫ ১০ ২০

৩০ ( )

( )

৩০ ২০১৭ ১৫

৩ ও ১২

২ ১৪ ( ) ৩৪

২৪

Source httpwwwarthosuchakcomarchives388257

Daily News Flash 12th November 2017

36

৫৩ ( ) ১৫ ও ২

১ ১ ৪৩ ২১০ ৫৩ ৪৪

৩২ ৫০

৮ ৫৮

২০

১ ২৪

৯ ২৭ ৫৫৫ ৯ ৩৮

-

Source httpwwwarthosuchakcomarchives388125

৩৫ ( ) ৩৫

২৪৫ ৩

১৭ ১১৯ ২১

ও - ১১

৯ ৬ - ৫ ৪

- ও ২

ও ১

Source httpwwwarthosuchakcomarchives388085

- ফ ৪০ ও - ৪০

৬ ( ) ৫ ৯ ৫ ৪৯২ ১১

৫৬ ৪৫১ ২৯

১২ ( ও)

( )

-

- ১০

( ও) ৮০

৪৯ ৩৭ ৯৮

ও ১৭ ১২ ঋ ও

১০ ও ৩ ১০

৩০ ২০১৬ ৩৫ ৬৩

৫ ( ) ৩ ৪৯

Daily News Flash 12th November 2017

37

Source httpwwwarthosuchakcomarchives387762

lsquo rsquo

( )

lsquo - rsquo

( ) ও

২০০২ ( ২ )

৫৪৬

ও ১৫

ও ১৫ ৭৫ ও

১০-১২ ১

১৫৫ ৬৭

ও ২০১০

ও ও ও -

ঋ ঋ

১৫ ৪ ৩

২ ২ ৪ ১৫ ৬

( )

Source httpwwwarthosuchakcomarchives388276

- ও ও

Daily News Flash 12th November 2017

38

৩৮ ও ৪৩

১০০ ৬১ ৫৮ ২২৫ ১ ০৫

Source httpwwwarthosuchakcomarchives387849

- ও ( -২)

৬ ও

ও ৫ ৩০০

ও ও

৭ ২০০

( ও )

ও ও

ও ও

২ - ও mdashlsquo

rsquo ও

-

৫ ৩০০

- ১০ - ৪২৯ -

৩২৮

- ১০

( )

২০১৪

( ও) ও ( )

( )

২ ও ও

ও ও ও

ও ২০১১- ও

ও ( )

Daily News Flash 12th November 2017

39

(১০ ) ৫ ৭৬৩

৬৩ ও

ও ( )

- ২০১৪ ও

ও ও

Source httpwwwprothom-alocomeconomyarticle1362971

ও ও

ও - ও

২০১৬-১৭ ২০ ও

ও ও lsquo rsquo

ও ১০ ও

৭৭ ২০১৭

১৬ ২৭ ও

২০১৬-২০১৭ ২০ lsquo rsquo

ও-

ও ও ও

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564382

ফ ( ও) ১১

ও ও

ও lsquo১১ ও rsquo

১০ ১৩

( ) ( )

Daily News Flash 12th November 2017

40

- ও

-

( )

( )

lsquo ও

rsquo ও

২৬ ১০

১৬

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564383

১ ৫০

ও ২০৫০

২৩

১৬ ৫৯ ২০১১

২০৩০

( )

ঋ ও ও

৬৮ ৬৭

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564384

ফ lsquo

ও ও

( ) ও

- ও

( ও ) ( )

Daily News Flash 12th November 2017

41

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564388

৪৫ ও

৮৪ ৮৩

৯২০

২৭ ২৪ ৭ ৩

৬ ৮৯

৯ ১ ৭২ ১৪ ৪৮

৪৫

ও ১৭ ৫০

১৯৩ ১০ ২০১৫-১৬ ৪১৩ ১০ ও ও

২০১৪-১৫ ৩৭৫ ৮০ ৩৫ ৭০

২০১৩-১৪ ৫১৫ ও

৮১ ২ ৫১ ৩ ২০

২ ও

৮৪

৮১

- ও

৮৩

৮২ ৯৫

ও ও - ও

ও ও ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17112200 - - - -

ও ৫০

ও ( ) ( )

ও ও

Daily News Flash 12th November 2017

42

ও ও

১০০

৮ ও

৩০০ ( )

ও ১৫০

২০০ ১০০

২০০

২৭ ৭

ও ও

ও ৩০ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111811 - - - -

-

২৭ ১১

১০

( ) ২৮৪

৬ ২৮ ৭ ১৫১

৭৪

ও - ও

ও - ও

ও ৩

৭ ১ ২৩

৯৪৪ ৮৮২ ১০

ও ৪ ৭ ও

৪ ৩৮ ও ১৫ ৪১ ২২ ৭০

২০ ৩৬ ১৩ ও

৪৬ ২২ ২০ ও

১৭ ৩৭১ ও ও

১৭ ও ৪৩ ও

Daily News Flash 12th November 2017

43

৬ ২০ ও ১৬

৩৫ ২০ ২৭

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111810 - - - - -

ও ও

১৩০ ও ১৪০

৫৫ ও ৯৭ ১১৩

৩৭

৩৪

৬১৯৩ ৬২ ১১৬১৭

৩০ ১৯

ও ও

ও - ও

৪৮ ৩১

১২ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111808 - - - - -

৩৫ ও ১০

ও ( ) ও

১০

ও ও -

২ ৩০০

২০১৪ ও

ও ৭ ২০১৪ ও ২০১৫

৫ ৭ ও ১২ ৮ ২৩

২০১৩ ১ ৪২০ ২০১৪ ১০ ৫ ১ ৫৭০

১৩ ৪ ও ১ ৩৫৮ ১০

২০১৬ ও ৩ ৫ ১ ৩১০ ২০১৪

২০১৬ mdash ২ ১ ঋ

১০ ও ২০১৩

২৯ ৮০ ২০১৪ ৫ ৭ ৩১ ৫০ ২০১৫

১২ ৩৫ ৩০ ২০১৬ ৭ ৩৭ ৮০

Daily News Flash 12th November 2017

44

২০১৪ ২০১৬

৩২ ৩৫ ও ৫০ ১৯

৫৬

১৭ ৪৬ ২০১৪ ২০১৬

৭২ ১০০ ও ১১১

২০১৪ ২০১৬ ১৫ ৬৩

৯১ ১১৪ ও ১১৮ ৮ ২৩

৮০ ৯০ ও

ও -

ও -

ও ও ও

১০ ও

১০ ও ২২

৭১ ১২ ৪২

৩২ ২৬ ও

ও ও

( ) ও

ও ২০২১ ও ও

৫ ১ ১৬

ও ও

Source httpbonikbartanetbanglanews2017-11-12137992 - - -- -

৫০০ ৫০০ ও

ও ৩০ ২০১৭

৫০০ ও ঋ ২০১৮

৩০

১ ২০ ও ১৫০

১১

Daily News Flash 12th November 2017

45

৩০০ ৬০০

( ) ও

১ ২৫ ও ১০

১০ ও

ঋ ও

৩০ ২০১৭ ৩ ও ১২ ও

( ) ২ ১৪ ২ ১

ও ৩০ ১১

( ) ও ও

( - ) ৬৬ ৫৫ ৩০

( ) ৩৪ ৯০

ও ও ও

( ) ও

ও ও ২০১৫ ৩০ ১০ ২০১৬

১২

( ) ৪১ ২০ ও ২৩ ৬০

৫০ ও

২০১৪ ৩০০ ও ১৪৮ ৪৬ ৫০

১৯১ ৬২ ৩৭ ৩১

১২ ৪৫ ৫০ ২৪

ও ( ) ১৬ ৫৩

ও ১৫ ২২

Source httpbonikbartanetbanglanews2017-11-12137966৫০০- - - - -ও -

৬৩

- ও ও

৬২ ৯৪ ৫

৬২

৯০

২০১৪ - -

- ও

২০১৬-১৭ ৫ ৬২ ও ২০১৩-১৪

১২

( ) ৯০

-

ও - - ও -

Daily News Flash 12th November 2017

46

- ও

৬২ ৯৪

২০১৩-১৪ ৭০ ৭৮ ২০১৪-১৫ ৫৪ ২২

২০১৫-১৬ ৩৯ ৩৩ ও ২৬ ২৩

ও ২০১৩-১৪

১২ ৩৬ ২০১৪-১৫ ৫ ৯১ ও ২০১৫-

১৬ ১৭ ৩০ ৫ ৬২

৩০ ২০১৭ ১০

২ ৮৬ ও ৩

ও ২৪ ( )

২৭

১৯৬৪ ১২

৪ ও ও ১৯৭২

ও ( )

ও ৩৪ ৮ ও

৯০

৪৫ ও ৫

১৯৬৪ ১৯৭২ ১৯৮৯

১০০ ও ২৬ ১৬ ২০ ৫৪৩ ৭৭

৫ - ৫১ ১৫ ৬০ ও

৩২ ৯০

Source httpbonikbartanetbanglanews2017-11-11137853 - - - - - -৬৩---

( ) ও

১০

ও ও ও

-

ও ও

ও ঋ ও

ও ২০১৪ ও

ও ও

২০১৩

( ) ও

Daily News Flash 12th November 2017

47

২০১৪

২০১৪-১৬ ও

২০১৪

ও ২০১৪

২০১৫ ২৭ lsquo ও rsquo

ও ও

২০১৬ ২৪

( )

ও ও

- ও

ও ও ১৯৮৩ ২০১৬

ঋ ( ) ৫৬০

৮৬৪

২০১৬ ২০১৯ ও

ও ১৫ ২৫ ৩০ ও ৩০

ও ঋ ও

২০১৬ ঋ ১

৩৪২ ঋ ৬ ৫২ ১২৩

ঋ ২ ৪৪৩ ঋ ১০

৮৪ ঋ ৪০

৭২৬

ও ২০১৬ ৭৪১

৪৫৭

২০৭ ২৪৪

১০ ও

ও ও ও ও ও

Daily News Flash 12th November 2017

48

Source httpbonikbartanetbanglanews2017-11-12137998 - - - - - ও- -

( )

৩০ ২০১৭ ২০

( ) ২ ১ ১ ৫৯ (

) ৩০ ( ) ১৫ ৩৭

ও ২৮ ১১

( ) ২৮

২০১৬ ৩০ ১৮ ২০

২০১৪ ও ২০

১৫ ৩০

১৮ ৮০ ও ৯ ৬০

Source httpbonikbartanetbanglanews2017-11-11137850 - - - -

ফ ৭ ২০১৭-১৮ ৭ ৩ ৭৪

( ) ও

( - ) ১ ১৫০ ৫৮

(২০১৬-১৭) ১ ৭৫ ৩ ৬০ ৭

৩ ১ ১৫৯ ২০ ৭৪

ও mdash

৬ ৬৫ ১৭ ৬৩

mdash ও ও

১৫ ৪১ ২২ ৬৯ ১০

১৯ ৬৬ ১০ ২০ ২২

mdash ও ও ও

৩৯ ৫১ ও ২ ও

১৬ ৪৬ ও ও ৬ ৯৯ ও

৩ ৮৫ ৯ ৯৫

১৯ ৮২

৮০

ও ( )

mdash

Daily News Flash 12th November 2017

49

ও ও

Source httpbonikbartanetbanglanews2017-11-10137755 - - - -৭- - --

ফ - ফ ও -ও

-ও

-ও

২৯-১০-২০১১ ৩ ( ) ২৮-১০-২০১৪

৩ ( ) ২৮-১১-২০১৬

২৮-১০-২০১৭ ৩ ( )

২০১৬-১৫৮১৩৪ ৪৪ ০৭-০৮-

২০১২ ১২(৬) ২ ( ) ৬ ( )

-ও - ও ২ ( )

৬ ( ) ও ও

-ও ৩ ( )

-

ও ও

১৯৯৪

২ ২২-০৫-২০১২ -ও ৩

- -

১৯৯৪

-ও

- ও

( )

১৯৯৪

১৯৯৪ -ও

Source httpwwwsharenews24comindexphppage=detailsampnc=1ampnews_id=6587

Daily News Flash 12th November 2017

50

ফ ফ

১৫ ও

-( ) ও

৪৯

১৬ ৮৫

৫১ ৪৯

৪ ৩৬

১৯১৩

১০০ ও ১৯০১ ১৯৬০

Source httpswwwdailystockbangladeshcom - - - -

- ( -১)

( ) ৮

৩০০ ও

( ) ১৬

- ২২৮ ৪৯ ১৮৩ ২০১৮

( ) ও

১৫০

( ) ও ৪০ ৩০

ও ও

ও ও

Source httpswwwdailystockbangladeshcom - - -

Page 10: Daily News Flash, 12th November, 2017 -  · PDF filebanglalink's revenue falls 4.57pc in q3 ... banks lack remedial strategy while npl rises worryingly

Daily News Flash 12th November 2017

10

made products there exporters said Home textile exports increased 2037 percent year-on-year to $26079 million while the shipment of agricultural products like vegetable fruits spices cut flowers grew 2022 percent to $20321 million Frozen fish live fish and shrimp export increased 1541 percent to $22691 million which is 3721 percent higher than the target for the period Shrimp exporters said they have been receiving better prices from buyers as the demand for the black tiger variety of shrimp increased in the western world Last year shrimp exporters received $550 to $650 for a pound of shrimp but this year they are receiving between $750 and $8 according to exporters Pharmaceuticals exports grew 1731 percent year-on-year to $3219 million and furniture exports 1881 percent to $1415 million Source httpwwwthedailystarnetbusinessexports-spring-back-1489108

EXPORTERS SEEK LONG-TERM TAX ENERGY POLICIES Exporters yesterday demanded long-term and stable tax and energy polices such that they can make their future investment plans accordingly ldquoWe need a long-term roadmap from the government on taxes and energy prices and supplyrdquo said Fazlul Hoque former president of Bangladesh Knitwear Manufacturers and Exporters Association Every year before the budget the National Board of Revenue increases the source tax on export receipts only to bring it down later following requests from businessmen or under political pressure he said For instance the government has been importing liquefied petroleum gas for supplying to the industrial units But it is not clear yet how and when the gas would be supplied to the industrial units he said ldquoHowever it is very simple to fix the rate for the long term so that the businessmen can predict their expenditure and plan for futurerdquo Hoque said at a roundtable on the export potential of Bangladesh Bangla daily the Prothom Alo and banking giant HSBC jointly organised the discussion at the newspapers office in Dhaka where a minister exporters bankers manufacturers and entrepreneurs spoke Siddiqur Rahman president of Bangladesh Garment Manufacturers and Exporters Association echoed Hoques views He also complained about the poor state of the premier Chittagong port and airport in Dhaka Not only the sea port and airport the poor state of the Dhaka-Ashulia highway is also responsible for the bad transportation system The truckers demand higher fares because of the rundown roads between Dhaka and Ashulia-Savar he said Subsequently he called for the highways to be expanded into six lanes as hundreds of garment factories are located on both sides of the road David Hasanat chairman and chief executive officer of Viyellatex Group a leading garment exporter said the garment sectors success stories should be spoken of more ldquoWe should also continue with the PR initiative to carve out a positive picture of the countrys successful garment sectorrdquo he added The exporters of Bangladesh are responsible for not only driving economic growth but also for establishing the Bangladesh brand across the world said Francois De Maricourt chief executive officer of HSBC Bangladesh Muhammad Shohiduzzaman country head of global trade and receivables finance of HSBC Bangladesh said the popularity of export through open accounts system has increased worldwide due to simplicity of the process Bangladesh can also adopt it instead of the time-consuming and traditional letters of credit system he said

Daily News Flash 12th November 2017

11

Saiful Islam president of Leathergoods and Footwear Manufacturers and Exporters Association of Bangladesh (LFMEAB) said the condition of the customs department at the Chittagong port has worsened Customs officials take a lot of time to scrutinise the imported goods meant for manufacturing in the factories Islam said adding that the Chittagong port should have a contingency plan to avoid any kind of sudden deterioration in the system Abu Taher former chairman of the LFMEAB said the global market size of leather goods is $240 billion and in a few years time China will be importing another $100 billion worth of leather and leather goods and footwear ldquoSo we have a lot of opportunity to export leather goods worldwide We need export diversificationrdquo Taher said The demand for diversified jute goods like yarn has been increasing worldwide so the scope for jute and jute goods exports is also rising worldwide said Mahmudul Haque managing director of Sadat Jute Industries Limited ldquoWe need the governments support to make the best of this global opportunityrdquo he added MA Mannan state minister for finance and planning said sometimes the governments activities are stopped through filing writ petitions in the court ldquoThis is one of the major reasons for the slow progress of the governments development projectsrdquo he added Abdul Qayyum associate editor of the Prothom Alo moderated the roundtable Source httpwwwthedailystarnetbusinessexporters-seek-long-term-tax-energy-policies-1489123

DOLLAR SUDDENLY BECOMES DEARER

A frequent traveller who often buys foreign currency from an international bank in Dhaka was charged about Tk 86 for a US dollar on Wednesday Just a month ago he bought a dollar for Tk 83 This sudden rise in dollar price might not make much of a difference to individuals who purchase foreign currency in small amounts and infrequently but for importers who have to settle huge bills it is a major blow For instance if the price of a dollar goes up by even Tk 1 the importer has to bear an additional cost of Tk 10 lakh for $1 million Presently the bills for collection sell rate (at which import payments are made) of a dollar hovers around the Tk 83-mark and the rate goes up further for foreign banks that dominate the currency market The situation has forced the Bangladesh Bank to intervene sitting down with the banks and treasury officials twice in the last two weeks other than selling greenbacks Bankers blamed the depreciation of the local currency on the mismatch between demand and supply of the dollar

Daily News Flash 12th November 2017

12

Remittance and exports the two major sources of foreign currency for Bangladesh are in the slow lane while imports have ballooned Yesterday the inter-bank exchange rate of the US dollar stood at Tk 8095 up from Tk 7849 a year earlier The central bank has already sold $126 million to banks this month to halt the depreciating trend of the taka according to a Bangladesh Bank official ldquoBut it is not yielding the desired result as the demand for the US dollar continues to riserdquo From July 1 to November 9 the central bank has sold $440 million to banks In contrast it sold $175 million and purchased $193 billion during the course of fiscal 2016-17 Some banks are now trading the US dollar with each other bypassing the inter-bank exchange rate set by the central bank meaning that they completed the transaction beyond the rate the BB official said The central bank has put a cap on the US dollar at inter-bank exchange rate plus Tk 2 on April 27 in a meeting with the Association of Bankers Bangladesh with a view to keeping the market stable Besides on Monday it warned a number of banks for such unethical practice and asked them to strictly follow the inter-bank rate to settle foreign exchange transactions among them ldquoSome banks had secretly struck up deals between themselvesrdquo said Md Arfan Ali managing director of Bank Asia adding that the banks were forced to settle transactions at the higher rate because of the scarcity of the US dollar Banks usually do not get greenbacks from the central bank which compelled them to settle the deal avoiding the inter-bank rate said Syed Mahbubur Rahman managing director of Dhaka Bank Subsequently he urged the government to take initiatives to increase export earnings and remittances to ensure steady supply of the US dollar ldquoThe current account balance posted a huge deficit in the first quarter of the fiscal year This reflects the existing foreign currency shortagerdquo he added Between the months of July and September the current account deficit stood at $179 billion in contrast to $539 million in the surplus a year earlier according to data from the central bank During the period the trade deficit widened to $365 billion from $156 billion a year earlier Source httpwwwthedailystarnetbusinessdollar-suddenly-becomes-dearer-1489096

POLICY SUPPORT NEEDED TO DIVERSIFY EXPORTS ANALYSTS The government should extend its policy support beyond the garment sector in order to diversify exports said experts yesterday ldquoWe will have to give importance to various promising sectors which are apparently not visible like the garment sector to diversify exportsrdquo said Prof Wahiduddin Mahmud an eminent economist He said the government would have to provide subsidies to small sectors mostly manufacturing industries to carry on the existing export growth momentum He was speaking at the Bangladesh Enterprise Institutes stakeholder consultation workshop on ldquoExport Diversification Challenges and Prioritiesrdquo IFIC Bank organised the programme at its headquarters in Dhaka Commerce Minister Tofail Ahmed said Bangladesh would be able to reach its export target of $60 billion by 2021 Prof Mahmud said the manufacturing sector should be focused to make the countrys growth export-led Otherwise it would not be possible to maintain the current share of exports to the GDP after two or three years Salman F Rahman vice-chairman of Beximco Group who chaired the workshop said the government will have to extend the bonded warehouse facilities to all sectors and give cash incentives to small sectors

Daily News Flash 12th November 2017

13

He said the government is cutting various policy supports including cash incentive for the garment sector ldquoBut it is not the right time to discontinue the incentivesrdquo The businessman urged the government to continue its support so that the garment sector can maintain its growth momentum Mustafizur Rahman a distinguished fellow of the Centre for Policy Dialogue said intra-garment diversification needs to continue to boost exports He said the exchange rate should be kept at the level that helps exporters The economist said pharmaceutical leather and light engineering sectors have huge opportunities to contribute to exports if they receive supports Allah Malik Kazemi change management adviser to the Bangladesh Bank said the global slowdown has affected the exporters He said the central bank keeps the interest of exporters in mind while managing the foreign exchange market Md Nojibur Rahman chairman of the National Board of Revenue said there is political commitment from the government to stand by exporters He emphasised export diversification saying the NBR also has a role to play by way of supporting small sectors Kazi M Aminul Islam executive chairman of the Bangladesh Investment Development Authority said the government would have to put more emphasis on agriculture and manufacturing sectors to diversify exports He said the garment sector grew fast riding on the policy support provided by the government in areas such as bonded warehouse exchange rate and incentives ldquoOther promising sectors should be provided the same policy support so that they can growrdquo he said Mohammad A Razzaque project leader of the BEI said it is stated that the non-garment exports will not grow because of the policy support provided to the garment sector He disagreed with the argument saying promoting export diversification and maintaining the garment sector dynamism must go hand in hand BEI President Farooq Sobhan also spoke Source httpwwwthedailystarnetbusinesspolicy-support-needed-diversify-exports-analysts-1489081

DIGITAL HUNDI SHRINKS REMITTANCE FLOW THROUGH BANKS BIBM Hundi traders have been fast transferring remittance to relatives of expatriate Bangladeshis through mobile services which have resulted in a fall in the amount of money sent through banking channels This was reflected in a research report by the Bangladesh Institute of Bank Management (BIBM) The report titled ldquoIncreasing flow of remittance through banking channel Bangladesh contextrdquo was placed at a seminar at the BIBM auditorium yesterday A six-member team led by BIBM Director Shah Md Ahsan Habib prepared the report According to the report remittance flow decreased in recent times all over the world but the fall in Bangladesh was more as it accounted for a considerably high amount of remittance generated in total The report identified several reasons for which remittance was plunging including bank branches being distant from the houses of remitters relatives The report also mentioned a lack of good behaviour on the part of bankers requirement of various documents and weekly holidays as causes BIBM Supernumerary Professor Yasin Ali said the scope of mobile banking has much increased in the last five year but banks have failed to utilise the channel He said banks have to provide remitters the opportunities which were offered by unofficial channels otherwise inflow of remittance through the banking channel would plummet

Daily News Flash 12th November 2017

14

Another BIBM Supernumerary Professor Helal Ahmed Chowdhury said the cost of sending remittance through banking channels was higher the effect of which was falling on remittance inflow Chowdhury said an initiative has to be taken to slash the cost of transferring remittance to increase the inflow through banking channels SK Sur Chowdhury deputy governor of Bangladesh Bank said remittance flow to Bangladesh declined by 1110 percent in 2016 due to lower oil prices and fiscal policy tightening in the Gulf Cooperation Council countries It is hoped that awareness programmes would encourage non-resident Bangladeshis to come forward to know the importance of channeling their money through banks he said Chowdhury also said to ease the flow in the formal channel Bangladesh Bank has reduced the security deposit requirement for exchange houses abroad to establish drawing arrangements with local banks In addition to their own bank branches and ATM booths banks are now using the branch networks of microfinance institutions and post offices as sub agents for remittance distribution Remittances are also distributed through agent banking such as that provided through Singer Bangladesh Limited outlets he said Furthermore Bangladesh Bank has established a separate ldquoFinancial Integrity and Customer Interest Protection Departmentrdquo to handle complaints and suggestions of customers or stakeholders at home and abroad to ensure smooth and hassle free services The ldquo16236rdquo hotline is to address customers hassles if any He said at the moment no bank can take more than two days in reaching remittance to designated beneficiaries Source httpwwwthedailystarnetbusinessdigital-hundi-shrinks-remittance-flow-through-banks-bibm-1489075

JOINT VENTURE TO PRODUCE 600MW IN MATARBARI

A joint venture between Japans Mitsui amp Co and a state-run Bangladeshi company is going to set up a liquefied natural gas-based power plant at Matarbari in Maheshkhali upazila to produce 600 megawatts of electricity Coal Power Generation Company Bangladesh Ltd yesterday signed a primary agreement with Mitsui amp Co to this effect in Dhaka on Wednesday according to a statement of the power and energy ministry The companies will have 50-50 ownership in the joint venture that will complete the project by 2021 The government has taken initiatives to import a huge amount of LNG from next year Both land-based and floating LNG terminals will be set up The government has approved two floating LNG terminals each of which will supply 500 million cubic feet of gas per day In July state-run Petrobangla and US-based Excelerate Energy signed the final deals to set up Bangladeshs first LNG terminal in Maheshkhali which will supply gas to the national grid from early 2018 The government also awarded Summit Group the work to set up the countrys first floating LNG terminal also in Maheshkhali This one is due for commissioning by next October Source httpwwwthedailystarnetbusinessjoint-venture-produce-600mw-matarbari-1489069

Daily News Flash 12th November 2017

15

EXPORTS TO EU STATES BUT GERMANY POST ENCOURAGING GROWTH

Bangladeshrsquos export earnings from European countries except Germany registered a significant growth in the July-October period of this financial year 2017-18 riding on an excellent performance of readymade garment products According to the Export Promotion Bureau data exports to major European countries registered double digit growth in the four months of FY18 while the RMG export to Germany fell in the period compared with that in the same period of last fiscal year The EPB data showed that Bangladesh suffered a negative export growth in two promising markets mdash Japan and China mdash in the July-October period of FY18 Exporters said that earnings growth in the EU markets increased in recent months as the euro appreciated against the dollar They also said that buyers and brands cut import orders from Bangladesh for their Chinese stores that caused the negative growth Export earnings from the UK the second largest export destination for Bangladesh in the EU grew by 2084 per cent to $134 billion in the four months of FY18 from $111 billion in the same period of FY17 Earnings from apparel products fetched $125 billion with 2227 per cent growth in the period Export earnings from Spain in July-October in FY18 grew by 2581 per cent to $80102 million from $63670 million in the same period of FY17 Export earnings from the Netherlands rose by 3416 per cent to $40108 million in the four months of FY18 Bangladesh earned $58097 million from France with 270 per cent growth and $46374 million from Italy with 1206 per cent growth Exports to Germany the second largest export destination for Bangladesh in the July-October period of FY18 stood at $186 billion the same amount earned in the July-October period of FY17 Anwar-ul-Alam Chowdhury Parvez former president of the Bangladesh Garment Manufacturers and Exporters Association said exports depend on season and the earnings from Germany would increase from November RMG export earnings fell by 039 per cent to $173 billion from $174 billion in the market data showed lsquoWe have to wait to identify the reasons for the stagnancy of growth in the German market Hopefully the export would rebound in the market in the coming monthsrsquo Md Fazlul Haqe former president of the Bangladesh Knitwear Manufacturers and Exporters Association told New Age on Saturday

Daily News Flash 12th November 2017

16

Export earnings from the US the largest destination for Bangladeshrsquos exports in the July-October period of FY18 grew by 228 per cent to $187 billion from $183 billion in the same period of FY17 Apparel export to the market grew by 244 per cent to $168 billion from $164 billion The EPB data showed that the countryrsquos export earnings from Japan in the July-October period of FY18 fell by 394 per cent to $33390 million from $34760 million in the same period of FY17 Export earnings from China in the four months of the FY18 decreased by 2242 per cent to $22475 million from $28971 million in the corresponding period of last fiscal year Parvez said that the domestic consumption in China slightly decreased in recent times and global retailers also cut import orders from Bangladesh for their Chinese stores due to congestions in the Chittagong port lsquoWe are losing many orders from global brands as we have been failing to meet lead time due to the problem in the portrsquo he said Source httpwwwnewagebdnetarticle28200exports-to-eu-states-but-germany-post-encouraging-growth

REHAB LEADERS DEMAND CUT IN TAXES Realtors on Saturday urged the government to cut tax rates at different levels of the housing sector to give a much-needed boost to the sector They also requested the government not to raise question over the source of the minimum paid up capital (Tk 1 crore) a real estate company requires to be a member of the Real Estate and Housing Association of Bangladesh REHAB leaders made the requests at a joint meeting with the National Board of Revenue held in a city hotel on the day NBR chairman Nojibur Rahman attended the meeting as chief guest while REHAB president Alamgir Shamsul Alamin senior vice-president Nurun Nabi Chowdhury Shaon and vice-president Liakat Ali Bhuiyan were also present among others Alamgir said that the REHAB made it mandatory for its member companies to have Tk 1 crore paid up capital and he requested the government not raise question over that money The government earlier made it mandatory for all developer companies to be REHAB members Alamgir also urged the government to form a re-financing fund worth Tk 20000 crore under Bangladesh Bank to provide low-interest and long-term loans to the potential apartment buyers He demanded apartment registration fee to be reduced to 65 per cent from the existing 155 per cent mentioning that other SAARC countries maintained it at 4-7 per cent Alamgir said that the government was losing huge revenue due to the high apartment registration fee as buyers were showing unwillingness to register their apartments at high cost Nurun Nabi urged the government to meet the REHABrsquos longstanding demands to save the housing sector from ruination He also called for reducing corporate tax of non-public traded companies to 20 per cent from the existing 35 per cent He sought a cut in the tax on signing money to 75 per cent from the existing 15 per cent Alamgir also appealed for reducing tax rate on apartment resale to 3 per cent He also sought total 15 per cent tax and VAT on professional services like engineering and architecture from the current 27 per cent Nojibur said that an NBR-REHAB joint working group would be formed to work together for the betterment of the housing sector He also requested REHAB leaders to provide opinions on the income tax law that would be amended soon He assured them that the NBR would consider their demands Source httpwwwnewagebdnetarticle28201rehab-leaders-demand-cut-in-taxes

Daily News Flash 12th November 2017

17

BrsquoDESH BHUTAN START TRADE DATA SHARING IN JAN Bangladesh and Bhutan have decided to start exchanging export-import data from January 1 to verify trade documents to check duty evasion and other customs-related offences through misdeclarations of goods and prices during trades between the two countries The data will be mailed in the first week of the subsequent month according to the decision taken at the 3rd Bangladesh-Bhutan joint group of customs meeting held in November 7-8 in Thimphu the capital of the Himalayan kingdom Initially both sides will exchange export data of three commodities and gradually the scope will be expanded to all the export items Delegations from the both sides also agreed to boost the existing trade volume between the two countries and improve infrastructure at land customs stations of Bangladesh and Bhutan to facilitate border trade Bhutan informed the meeting that they were establishing a mini dry port at Phuentsholing which would boost border trade between the countries National Board of Revenue member (customs audit modernisation and international trade) Khondaker Muhammad Aminur Rahman and Bhutanrsquos Department of Revenue and Customs director Yonten Namgyel led the respective delegations at the meeting Following a request from Bangladesh Bhutan agreed to put necessary information including country of origin name and address business identification number and tax identification number of importer on the export packages as per the current Import Policy Order of Bangladesh Both sides also agreed to hold ground-level customs meetings twice a year alternately at Phuentsholing of Bhutan and Burimari of Bangladesh to resolve customs-related problems smoothly The two countries also decided to raise the issue of improving the infrastructure at Changrabandha (Indian LCS opposite to Burimari of Bangladesh) and Jaigaon (Indian LCS opposite to Bhutanrsquos Phuentsholing) to ensure smooth border trade between the countries Bangladesh also requested the landlocked kingdom to use Nakugaon-Dalu-Gelephu route for their imports and exports as Bangladesh has decided to upgrade Nakugaon LCS as a trade hub for border trade with India and Bhutan Bangladesh side also underscored the potentials of use of riverine routes as mode of transport for export and import of goods Bhutan may also get duty-free market access for limestone powder export to Bangladesh according to the decision of the meeting Mohammad Ehteshamul Hoque NBR first secretary of customs modernisation and international trade on Saturday told New Age that both countries had resolved some small-scale problems to facilitate bilateral trade and committed to further enhancing border trade The planned ground-level meeting of customs officials will also play a role in identifying and resolving bottlenecks in trade between the two nations he said According to the NBR data Bangladesh exported products worth $322 million to Bhutan in the fiscal year 2016-2017 while it imported from the country products worth $3315 million Bangladeshrsquos highest export earnings from the country were $913 million posted in the FY 2011-2012 and the earnings have been declining with fluctuations over the years Bangladeshrsquos major export items to Bhutan are bakery items fruit and vegetable juices tableware kitchenware and toiletry articles of plastics non-alcoholic beverages menrsquos singlets briefs pyjamas medicament mixtures rice aluminium structure and few garment items On the other hand the country imports mainly citrus fruits stone granite dolomite limestone ferro-alloys apple and gypsum from Bhutan Source httpwwwnewagebdnetarticle28202bdesh-bhutan-start-trade-data-sharing-in-jan

Daily News Flash 12th November 2017

18

TAX FAIRS AT ALL ZONES BEGIN TODAY Income tax fair begins today at all income tax zones across the country to provide taxpayers with services in a similar hassle-free atmosphere they got at recently-concluded countrywide weeklong tax fair National Board of Revenue chairman Md Nojibur Rahman on Saturday in a statement said that the decentralised fair at the zones with similar facilities like the weeklong national tax fair would continue till November 30 the last day of income tax returns submission Tax officials will also start issuing income tax ID cards from November 20 to the taxpayers under each tax zone in Dhaka Issuance of ID cards will continue till November 28 There are 31 income tax zones across the country including 15 in Dhaka and four in Chittagong Officials of the revenue board said that the NBR took the decision so that all taxpayers could file their tax returns without any hassle with maximum support from tax officials Initially the NBR planned to issue ID card from November 9 which was deferred due to lack of preparation Source httpwwwnewagebdnetarticle28203tax-fairs-at-all-zones-begin-today

BTRC LIKELY TO LOSE RIGHTS OVER UNUSED BALANCE IN BLOCKED SIMS Mobile phone operators are likely to get relief from paying the government the unused balance in the SIM cards that would be blocked by the telecom regulator for various reasons especially for illegal voice-over internet protocol calls Mobile operators however will have to return the unused balance to its owner if claimed said officials of Bangladesh Telecommunication Regulatory Commission They said that a proposed amendment to the 4G licencing guidelines that would be passed by the telecom regulator in the upcoming commission meeting following instruction from prime ministerrsquos ICT advisor and posts and telecommunication ministry The instruction was made based on a meeting between the mobile phone operators and the government high officials on the proposed 4G licencing guidelines they said As per the BTRC approved draft 4G licencing guidelines that would be revised it was mandatory for all the operators to pay the BTRC the remaining balance amount of the identified illegal prepaid VoIP callers and unsuccessful or fake SIM registration of service connection fund at the time of deactivating them It was also mentioned in the guidelines drafted earlier that there would not be any rights of the mobile network operators over the forfeited account balance of the illegal VoIP callers Whereas it was also mandatory for the operators to pay the remaining balance of such SIM cards within ten days of the following month In case of deactivation of SIM cards for illegal VoIP calls mobile operators would keep the remaining balance while operators would have to pay the balance to its owner if claimed for deactivation of SIM cards for any other reason Such specification about the unused balance would help the operators while the government would lose its rights over the forfeited fund BTRC officials said Such initiative might foil another BTRC move to take stand against the mobile phone operators for non-payment of unused balance in the SIM cards which were blocked by the telecom regulator for various reasons Countryrsquos leading mobile phone operator Grameenphone in February this year deposited Tk 733 crore to the telecom regulator against the unused balance in the connections that were blocked between 2008 and 2014

Daily News Flash 12th November 2017

19

While other operatorsmdash Banglalink Robi Airtel Citycell and Teletalk mdash were yet to pay any fund to the commission in this regard Airtel formerly known as Warid Telecom has already merged with Robi in November 2016 Apart from the unused balance issued the government acknowledged almost all the issues raised by the mobile phone operators about the 4G licencing guidelines BTRC officials said Source httpwwwnewagebdnetarticle28107btrc-likely-to-lose-rights-over-unused-balance-in-blocked-sims

BONDED WAREHOUSE BACK-TO-BACK LC SHOULD BE OPEN TO ALL EXPORTERS Bonded warehouse facility and back-to-back letter of credit facility should be open for all for the export of all sorts of goods to diversify export products said experts and businesses at a workshop on Thursday They came up with the observation while speaking at a stakeholdersrsquo consultation workshop on lsquoExport Diversification Challenges and Prioritiesrsquo organised by Bangladesh Enterprise Institute at IFIC Tower in Dhaka Commonwealth Secretariat adviser and head of international trade and regional cooperation Section Mohammad Razzaque presented a keynote paper on lsquoRevitalising Bangladeshrsquos export trade Policy issues for growth acceleration and diversificationrsquo Razzaque in his presentation said that there should be alternatives of diversifying export destinations and products to achieve $60 billion export target by the year 2021 Although the country has continued to achieve more than 6 per cent growth export to GDP ratio has declined a bit in last couple of years and to increase the ratio for sustaining economic growth there was no alternative to increasing exports he said To facilitate export diversification and ensure equal facility treatment among the exporters all the sectors should get bonded warehouse facility as well as back-to-back letter of credit facility that helped the countryrsquos readymade garment sector to grow Razzaque said Salman F Rahman private sector development advisor to prime minister also said that the bonded warehouse and back-to-back LC facilities should be opened for all to support other exporters Suggesting for the continuation of existing facility for the RMG sector Salman also president of BEI said lsquoWe need product diversification for the economic growth but not at the cost of RMG sectorrsquo Former Dhaka University economics department chairman Wahiduddin Mahmud said that the gov ernment should set a broad category and announce subsidy and cash incentives for longer period to help the sectors to contribute to exports as well as economic growth Speaking about the exchange rate issue the eminent economist also said lsquoAs balance of payment has turned negative the government should not try to control the exchange rate anymorersquo Centre for Policy Dialogue distinguished fellow Mustafizur Rahman said lsquoApart from diversification of other products intra-RMG sector product diversification is also important as we have created a strong foothold in the sector and itrsquos a one trillion dollar marketrsquo Speaking about the repeated change in policy Federation of Bangladesh Chambers of Commerce and Industry president Shafiul Islam Mohiuddin said lsquoElectricity price has been doubled with just a so-called hearing and that led our foreign partners to backtrackrsquo Speaking about the 070 per cent source tax imposed on apparel sector commerce minister Tofail Ahmed said rsquoAlthough we cannot do a lot for the sector but such tax should not remain on the sectorrsquo Source httpwwwnewagebdnetarticle28039bonded-warehouse-back-to-back-lc-should-be-open-to-all-exporters

Daily News Flash 12th November 2017

20

GOVT TO SPEND FUND FOR TOBACCO CONTROL MEASURES CAMPAIGNS The government has finally framed a policy on the use of health development surcharge it imposed on tobacco products three and half years ago The health and family welfare ministry on Wednesday issued the gazette notification of Health Development Surcharge Management Policy-2017 identifying 16 sectors for spending the fund on The fund will mainly be used for limiting the demand for and supply of tobacco products financing tobacco control activities conducting researches and campaigns and operating Tobacco Tax Cell of the National Board of Revenue The revenue board in July 2014 imposed 1 per cent surcharge on all tobacco products both locally produced and imported ones aiming to spend the fund for implementing the programmes to control and discourage the use of tobacco products and prevent tobacco-related diseases In the last three fiscal years (2014-15 2015-16 and 2016-17) the tax authority collected around Tk 900 crore as health development surcharge from tobacco products including cigarette bidi gul zarda and other smoking and chewing tobacco products But the fund remains idle as the health ministry has not got the access to the fund over the years as there was no policy on how to the money be used Officials of the revenue board said that formulation of the policy had paved the way for utilising the fund for tobacco control and prevention of tobacco-related diseases They said that every year around Tk 300 crore would be added to the fund According to the policy the collected surcharge will be used for financing national tobacco control activities operation of the NTCC under the ministry campaigns in the mass media on health hazards of tobacco products and tobacco control and providing trainings to stakeholders The fund will also be used for setting up National Quitline a hotline to help people quit tobacco consumption and providing financial and technical support to organisations for implementation of programmes to prevent tobacco-related non-communicable diseases Programmes will also be taken to create awareness among farmers against tobacco cultivation and motivate them to cultivate alternative crops according to the policy According to the policy a Health Development Surcharge Management Committee headed by the health minister will supervise the proper use of the fund The National Tobacco Control Cell will provide secretarial support to the committee Fund from other sources such as possible imposition of any surcharge on products hazardous to health in future and donations from local and foreign sources will also be added to the fund it said The expenditures from the fund will be audited in line with the methodology followed for the other government agencies it said According to the Global Adult Tobacco Survey-2009 some 413 crore people or 43 per cent of the total population of Bangladesh consume tobacco products On the other hand 430 crore people are victims of indirect smoking According to the World Health Organisationrsquos 2004 data 57000 people die every year in Bangladesh suffering from tobacco-related diseases The government has taken an initiative to make the country smoking free by 2040 Source httpwwwnewagebdnetarticle28040govt-to-spend-fund-for-tobacco-control-measures-campaigns

STUDY BLAMES MOBILE HUNDI FOR FALLING REMITTANCES THRU BANKING CHANNEL A study of Bangladesh Institute of Bank Management on Thursday blamed Hundi through mobile financial services including bKash Rocket mCash and UCash for decreasing remittance through banking channel

Daily News Flash 12th November 2017

21

The study conducted by a six-member team identified distance of bank branches delay in receiving money misconduct by bankers submission of various documents weekly holidays of banks and illegal immigrants as the reasons for increasing remittance inflow through mobile Hundi The six-member team headed by BIBM director Shah Md Ahsan Habib presented the study at the seminar presided over by BIBM director general Toufic Ahmad Choudhury held in the auditorium of the institute in the city lsquoIn Bangladesh remittances declined by an estimated 111 per cent in 2016 in the face of lower oil prices and fiscal tightening in the GCC countries Among other reasons use of Illegal channel by the expatriates is doing harm to our countryrsquo Bangladesh Bank deputy governor Shitangshu Kumar Sur Chowdhury said He said that it would not be possible to stop Hundi totally but BB is working to check the transactions through the illegal channel To ease the formal channel BB has reduced the security deposit requirement for the exchange houses abroad to make arrangements for remittances with local banks Shitangshu said The BB deputy governor hoped that Non-Resident Bangladeshis would come forward to know the importance of their money to be sent through banking channels BB former executive director Yasin Ali said that national economy was being hindered due to remittance inflow through illegal channels He suggested using mobile banking facilities for remittance inflow saying that the area of mobile banking expanded many fold in last five years Helal Ahmed Chowdhury former managing director of Pubali Bank suggested bankers to be courteous with bank customers Source httpwwwnewagebdnetarticle28041study-blames-mobile-hundi-for-falling-remittances-thru-banking-channel

POLICY SUPPORT MUST TO DIVERSIFY EXPORT BASKET Speakers on Thursday said that in order to diversify the countryrsquos export basket export-oriented businesses should be given the policy support that has proved highly successful in bringing vibrancy to the countryrsquos RMG sector They were speaking at a workshop styled ldquoExport Diversification Challenges and Prioritiesrdquo organised by Bangladesh Enterprise Institute (BEI) in the auditorium of International Finance Investment and Commerce Bank in Dhaka Dr Mohammad A Razzaque former head of International Trade Policy at Commonwealth Secretariat in London presented a keynote paper in the programme chaired by Salman F Rahman private sector development advisor to Awami League President and Prime Minister Sheikh Hasina Skill development measures may also play a vital part in this regard Salman said export diversification would be possible only when adequate and appropriate policy support is provided to all export-oriented industries Dr Razzaque in his keynote paper suggested revamping and deepening policy support such as providing cash assistance and bonded warehouse facilities to all such industries to improve their export competitiveness He also highlighted the need for further expanding Bangladeshrsquos export basket as its penetration into global export markets in the last decade was very insignificant Eminent economist Prof Wahiduddin Mahmud said ldquoIn addition to providing subsidies and cash incentives to thriving and promising sectors on a long-term basis the government should take measures to strengthen the countryrsquos manufacturing baserdquo

Daily News Flash 12th November 2017

22

Shafiul Islam Mohiuddin president of the Federation of Bangladesh Chambers of Commerce and Industry said the governmentrsquos support is a must to create a strong manufacturing base for export diversification ldquoSkill development measures may also play a vital part in this regardrdquo Addressing the event as the chief guest Commerce Minister Tofail Ahmed said export diversification depends on businessmenrsquos initiatives He however pledged all necessary support from the government for export diversification to meet the countryrsquos $60 billion export target by 2021 BEI President Farooq Sobhan emphasised engaging the private sector in relevant policy discourses to achieve the target ldquoA private sector-oriented policy mechanism is very important as rapid changes are taking place in the global trade landscape Understanding implications and generating timely policy responses to unfolding developments will be meaningful only when the private sector is able to benefit from themrdquo said Sobhan Among others Mustafizur Rahman a fellow at the Centre for Policy Dialogue Kazi M Aminul Islam executive chairman of Bangladesh Investment Development Authority Bijoy Bhattacharjee vice chairman of Bangladesh Export Promotion Bureau and Md Nojibur Rahman chairman of the National Board of Revenue also spoke Source httpwwwdhakatribunecombusinesseconomy20171109policy-support-must-diversify-export-basket

BANKS LACK REMEDIAL STRATEGY WHILE NPL RISES WORRYINGLY Some of Bangladeshs banks dont have in-depth look into the problem of spiraling non-performing loans (NPL) while many others try to frame remedial strategies perfunctorily Such observations came out from studies on banking as well as financial sector at large as the NPL surge worries many quarters One finding shows that around 11 per cent of the countrys banks did not have an in-depth look into the issue of NPLs in the past year despite a growing concern over the problem in the financial arena The recent industry-wide survey also revealed that around 30 per cent of the countrys banks had not assessed their past NPL-reduction strategies at all while 36 per cent did so only on an ad-hoc basis The findings came out from the survey of the Chief Risk Officers at the banks on issues concerning NPL strategy in their institutions Leading banking research and training institution Bangladesh Institute of Bank Management (BIBM) conducted the study The research findings come at a time when the ballooning NPLs is becoming a major issue with the countrys banking industry and also triggering concerns and criticisms As per the central bank data the volume of NPLs had increased by more than 21 per cent to Tk 62172 billion by the end of 2016 swelling from Tk 51371 billion a year before The findings are genuinely surprising as we are struggling to find a bank for which NPL is not an issue in some capacity said Sazib Azad Senior Advisor of BIBM who led the research initiative Furthermore if the bank itself is immune to the impact of NPL even then they need to consider whether they are immune from structural or market-level impacts as well he told the FE However relevant survey results show the potential lack of such considerations as only 10 per cent of bank CROs taking part in the survey said that their banks are addressing potential dependence on market assessment and strategy What is more surprising is that the NPL strategies of around 62 per cent of the banks are not signed off by the boards the survey found

Daily News Flash 12th November 2017

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This is quite striking because given the severity of the non-performing-loan issue the NPL strategy should be signed off by the boards Mr Azad said adding Boards are not only accountable for the health of the banks but are also in position to release resources to get to grips with the issue In addition the survey result also revealed 31 per cent of the banks not communicating their NPL strategy across the bank NPL as an issue needs to be addressed from ground up But the results show that this is not happening at our banks said an expert who was involved with research Meanwhile 25 per cent of the CROs said they were not tracking the implementation and effectiveness of NPL strategy in their banks- something which according to experts is a cause of concern Given how critical an issue NPL exposure is we would expect every CRO to track how the NPL strategy is being implemented its effectiveness and how to improve matters to the Board Risk Committee and the Board the banking experts said Meanwhile the survey results also found that although 94 per cent of the banks had stress-tested their balance sheet in terms of NPL drag this figure drops to 56 per cent while considering the impact to and from the wider economy market and structural aspects It seems that 33 per cent of the banks do not formally consider this aspect with a further 11 per cent not looking at this dimension at all the researchers said Experts also noted that with Basel 3 farther putting capital under pressure sensible banks should dynamically model the impact of key risks to their capital However the survey results show 17 per cent of the banks are not doing so while 31 per cent doing it in a limited manner Asked whether their banks risk-appetite-statement metrics reflected their NPL strategy 36 per cent of the respondents said they do so in a limited capacity while a further 80 per cent are not doing that at all It was also found that 25 per cent of the C-Suites have specific NPL-strategy-related targets while 31 per cent of the CROs have the same Meanwhile when asked whether they consider their NPL strategy to be embedded just over half of them or 52 per cent of the survey participants said Yes This according to experts is clearly not fit for purpose given the severity of the NPL issue facing the banking sector The first step in looking into the NPL issue is to assess internal capabilities to effectively manage NPLs Next external conditions or operating environment needs to be considered Finally the capital implications of the NPL strategy need to be analyzed said Sajib Azad The findings of the survey will be shared with the stakeholders during the next CRO forum of BIBM expected to take place next month where the issue of Risk Culture will also figure high The biggest reason for the swelling of NPL in our banking sector is a lack of good governance To check the ballooning of NPL the internal governance of the banks has to be strengthened above all Director-General of BIBM Toufic Ahmad Choudhury said Meanwhile the survey also found banks tending to consider time-horizon portfolio segment and exposure-level-based targets to be broadly equally important to their NPL strategy In terms of options preferred for reducing NPL banks consider change of exposure type to be most effective (36 per cent) followed by active portfolio reductions (33 per cent) and hold forbearance (31 pe rcent) Source httptodaythefinancialexpresscombdfirst-pagebanks-lack-remedial-strategy-while-npl-rises-worryingly-1510417700

GOVT SEEKS US$183B UNDER 39TH JAPANESE ODA PACKAGE The government has sought around US$183 billion worth of assistance from Japan for bankrolling six development projects officials said Saturday

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Officials at the Ministry of Finance (MoF) said they have already discussed the issue with the Japan International Cooperation Agency (JICA) We are hopeful of receiving funds under its upcoming 39th Official Development Assistance (ODA) package to finance six development projects a senior MoF official told the FE He said a JICA mission in September-October last completed its visit to Bangladesh to explore the possibilities of financing the proposed projects We are hopeful of signing the 39th ODA package with JICA within a couple of months he said After signing the loan deal the largest bilateral donor will start disbursement of funds from the proposed $183 billion aid package for the six development projects the MoF official added The proposed six projects under the 39th ODA package are Matarbari port development Dhaka MRT line-6 construction (phase-III) Dhaka MRT line -5 feasibility study Matarbari ultra super critical coal-fired power plant (phase-IV) Jamuna Railway Bridge construction and Health service strengthening project A senior official of Economic Relations Division said the proposed 39th ODA package will be very useful for Bangladesh as it will be utilised to develop the Matarbari port ongoing Matarbari power plant project conduct feasibility study and detailed design of the MRT line-5 in Dhaka and to construct railway bridge over the River Jamuna All of these projects are very important for the country to ensure smooth transportation and uninterrupted power supply he added Japan is the largest bilateral development partner of Bangladesh Over last 5-6 years it has enhanced its aid with confirmation of more than US$10 billion worth of funds under each of the aid packages In the last 38th ODA package signed in June 2017 JICA provided Yen 178223 billion ($164 billion) for utilising in six development projects on transport infrastructure power and water sector improvement works In June 2016 Japan signed the 37th ODA deal worth $150 billion (17354 billion Japanese Yen) with Bangladesh and in December 2015 it inked the 36th ODA package confirming $12 billion concessional loan for six development projects Under the last 38th ODA package JICA offered $700 million (Yen 76825 billion) for Hazrat Shahjalal International Airport Expansion project $480 million (Yen 5273 billion) for 2nd Kanchpur Meghna and Gumti bridges construction $50 million (Yen 5593 billion) for Dhaka Mass Rapid Transit development project (Line 1) $100 million (Yen 10745 billion) for Matarbari ultra super critical coal-fired power plant $190 million (Yen 20477 billion) for Dhaka underground substation construction project and $110 million (Yen 11853 billion) loan for small scale water resources development project Japan has so far provided Bangladesh with nearly US$12 billion in assistance since the financial year (FY) 1971-72 Source httptodaythefinancialexpresscombdfirst-pagegovt-seeks-us183b-under-39th-japanese-oda-package-1510417739

SUMMIT GROUP ENTITIES TO ISSUE PREFERENCE SHARES WORTH $1250M A subscription closing ceremony to raise capital through issuance of preference shares worth BDT 1000 million (USD 1250 million) for Summit Barisal Power Limited amp Summit Narayanganj Power Unit II Limited was held recently at Pan Pacific Sonargaon Dhaka said a statement LankaBangla Finance Limited acted as the Mandated Arranger LankaBangla Investments Limited acted as the Issue Manager and The City Bank Limited acted as the Agent Account Bank amp Custodian Bank to raise the fund In the event Mr Lt Gen (Retd) Engr Abdul Wadud Managing Director of Summit Barisal Power Limited amp Summit Narayanganj Power Unit II Limited Mr Khwaja Shahriar Managing Director amp

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CEO of LankaBangla Finance Limited Mr Mohammed Nasir Uddin Chowdhury Managing Director of LankaBangla Capital Market Operations Mr Mominul Islam Managing Director amp CEO of IPDC Finance Limited Mr R Q M Forkan Managing Director amp CEO of Bangladesh Commerce Bank Limited Mr Faruq M Ahmed Additional Managing Director of Trust Bank Limited Mr Akthar Hamid Khan Deputy Managing Director of Pubali Bank Limited Mr Arif Hasan Khan Vice President of Modhumoti Bank Limited Mr Mohammad Ibrahim Khalil FCA Vice President amp CFO of Bank Asia Limited and Mr Mahbub Jamil Vice President and Head of Structured Finance of The City Bank Limited along with other senior officials from the companies were present Source httptodaythefinancialexpresscombdstock-corporatesummit-group-entities-to-issue-preference-shares-worth-1250m-1510411878

BMBA URGES MUHITH TO EXEMPT INVESTMENTS BY MF SPONSORS Bangladesh Merchant Bankers Association (BMBA) has urged the finance minister to exclude some components including sponsors investments in mutual funds (MFs) from the banks exposure to the capital market It made the request for ensuring an environment conducive to gradual development of the capital market according to a proposal submitted to Finance Minister AMA Muhith last week The BMBA said the long-term or strategic investments needed to be excluded while calculating the exposure as these investments were not intended for frequent trading Non-convertible preference shares and non-listed securities also need to be excluded from the capital market exposure as it will never influence the capital market volatility it said in a letter to the minister According to the letter the MFs are passive investments where investors themselves are not involved in investment decision making and such fund portfolios are mostly of long-term nature than frequent trading On the other hand the sponsors of the MFs need to hold 10 per cent of the investment until liquidation of the fund So considering the fact the sponsors portions in MFs need to be excluded from the banks capital exposure said the BMBA proposal As per the Banking Act 1991 it said reporting requirement is on solo basis but the central bank has introduced consolidated calculation which is of dual effectdouble counting in the market exposure This kind of restrictive measure creates panic situation in the market and may hinder the potentials and prospects of the capital market as a whole the BMBA said It also said that this kind of practice needed to be stopped as such requirements and reporting practice would further squeeze the market and that the investors would lose their interest The BMBA said some organisations have invested on strategic purpose and were holding positions in the board and their exposure increased with rising the market price of MF units On the other hand in compliance with the securities rules they are unable to sell shares to reduce exposure the BMBA said terming the situation complicated In its letter the BMBA said that the capital market exposure of some banks and financial institutions increased without fresh investments following the upward trend of the market price as the exposure is calculated on the basis of market price If the banks need to go for selling off their excess exposure this will create unnecessary selling pressure on the market said the BMBA The association requested the finance minister to consider their proposal to facilitate the growth of the capital market by its own strength and prospect Source httptodaythefinancialexpresscombdstock-corporatebmba-urges-muhith-to-exempt-investments-by-mf-sponsors-1510411950

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ATIUR STRESSES ROLE OF REGULATORS IN DIGITAL FINANCIAL INCLUSION Former Bangladesh Bank Governor Dr Atiur Rahman chairs a session at the 5th Biennial Competition Regulation and Development Conference at Jaipur in India on Thursday Success of digital financial inclusion depends on the prudent role of the regulating bodies to a great extent And the recent progress in Bangladesh in this regard is a good example for the rest of the world to follow said Dr Atiur Rahman former governor of Bangladesh Bank says a statement He was chairing a session at the 5th Biennial Competition Regulation and Development Conference at Jaipur India on Thursday The three-day conference is being hosted by CUTS International and OECD Speakers of the session included Ravinder S Aurora Senior Vice President of Mastercard David Ongolo Kenyan Competition Authority and Dr A K EnamulHaque Professor of East West University Dhaka Many developing countries survived and even thrived during the last global financial crisis because they chose to follow a broad-based financial inclusion strategy And digital solutions played a crucial role in this financial inclusion drive said Dr Rahman He added that service providers must focus on reaching out to the customers in the rural socio-economic conditions Dr Rahman said that experience from Bangladesh can answer many of the burning questions regarding digital financial inclusion The central bank of the country has facilitated bank-led digitisation drive Be it Mobile Financial Service or be it Agent Banking the Bangladesh Bank has encouraged traditional players (ie the commercial banks) to lead the way And it has been proven to be very successful He also said that the world is witnessing only the beginning of the digital finance revolution Hence we must learn from all these experiments share our experiences and know-hows Only then we can work towards shaping global standards and practices Dr Rahman finally asked all central banks to be more proactive and collaborative with other stakeholders including non-traditional financial service providers to facilitate orderly development of digital financial inclusion so that consumers interests are better protected The grievance redressal mechanism developed in Bangladesh Bank with infusion of state of the art technology to gain trust of the customers in financial inclusion was also discussed widely in the session The panelists highly appreciated Bangladeshs regulatory move with public interest in mind using latest technology for replicable digital financial inclusion Source httptodaythefinancialexpresscombdtrade-marketatiur-stresses-role-of-regulators-in-digital-financial-inclusion-1510416319

FAO FEARS NEGATIVE BD FOOD OUTPUT GROWTH ON FLOODING Recent flooding has dampened the outlook for Bangladesh a likely third successive season of little or negative food production growth mainly rice reports UNB quoting FAO Barring major setbacks production recoveries could instead permit Bangladesh and Sri Lanka to slightly lower their 2018 imports to 11 million and 450 000 tonnes respectively according to the latest Food Outlook published by the UN Food and Agriculture Organisation (FAO) Among other rice importers Bangladesh Iraq Nigeria and the Philippines are all similarly predicted to replenish their inventories according to the report a copy of which obtained by the news agency These gains are however likely to be offset by stock reductions in the Republic of Korea Madagascar Sri Lanka and the United Republic of Tanzania all linked to output shortfalls Although the use of rice as animal feed is being sustained by the release of supplies from government granaries in Japan the Republic of Korea and Thailand more affordable feedstuffs are expected to displace rice in most other countries especially in Bangladesh China (Mainland) and Vietnam

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Since the previous Food Outlook report a series of unfavourable climate-related events have affected main paddy crops in the Northern Hemisphere which have now reached the harvesting stage This has been the case in Asia where unlike 2016 the critical Northern Hemisphere summer months were characterised by mixed growing conditions that inhibited planting expansions As a result FAOs latest forecast of world rice production in 2017 points to a broadly stable output level of 5008 million tonnes Production in Asia is now forecast to fall 550 000 tonnes below the 2016 bumper harvest to 4525 million tonnes The UN agriculture agency has said the cost of importing food is rising in 2017 driven by increased international demand for most food stuffs as well as higher freight charges The cost of importing food is forecast to rise six per cent in 2017 to $1413 trillion making it the second highest bill on record while food commodity prices have been generally stable according to the latest Food Outlook that expressed concern about the economic and social impact of this trend on poor countries Although weather disruptions are set to stall production growth this season global rice supplies are still forecast to exceed utilisation enabling a small expansion of world rice inventories Global trade is expected to rise only modestly in 2018 after staging an 8 per cent recovery in 2017 The food import bills are set to increase by double-digit rates for least-developed countries (LDCs) and low-income food-deficit countries Aromatic rice varieties have risen eight times faster than the FAO All Rice Index which is up four per cent on the year However the higher import costs come at a time when inventories are robust harvest forecasts are strong and food commodity markets remain well supplied The export of tropical fruits is promising for poverty relief and rural development as almost all production takes place in developing countries The export volumes of mango pineapple avocado and papayas are on course to achieve a total combined value of $10 billion this year according to the Food Outlook Source httptodaythefinancialexpresscombdfirst-pagefao-fears-negative-bd-food-output-growth-on-flooding-1510336161date=11-11-2017

STOCKS NUDGE HIGHER AS BANK TELECOM ISSUES SURGE Stocks extended the winning streak for the two consecutive weeks that ended Thursday as enthusiastic investors continued their buying appetite on bank and telecommunication issues Market operators said the positive momentum in some large-cap issues especially from banking telecom pharmaceuticals and food amp allied sectors helped the bourse to stay upbeat The banking sector posted the highest return of 445 per cent as 27 out of 30 listed banks ticked higher Four banks gained more than 10 per cent each The telecom sector also surged 342 per cent as Grameenphone the countrys largest market-cap listed companys shares price jumped 40 per cent to close at Tk 45690 each The market extended the winning streak riding on heavyweight bank and telecom issues said an analyst at a leading brokerage firm The week featured five trading sessions as usual Of them first session saw marginal correction while last four closed higher Week-on-week DSEX the prime index of the Dhaka Stock Exchange (DSE) jacked up by 9454 points or 155 per cent to finish at 6193 The two other indices -- the DS30 index and the DSE Shariah Index (DSES) - also closed higher at 2244 and 1341 points

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Both the indices added 4264 points and 1218 points respectively During the week banking pharmaceuticals and telecommunication sector stocks contributed more to keep the market up commented City Bank Capital Resources a merchant bank in its weekly analysis The port city bourse Chittagong Stock Exchange (CSE) also ended higher The CSCX advanced 180 points or 156 per cent to finish at 11618 International Leasing Securities a stockbroker noted that the market observed an upbeat vibe throughout the week riding on the news of soaring of net foreign investment in the capital market in the first 10 months of 2017 compared to the same period of last year Net position of foreign portfolio with the DSE stood at Tk 1623 billion in January-October compared to Tk 80 billion in the same period a year ago However some investors were reshuffling their portfolios after observing the year-end corporate declarations and first quarter earning disclosures the stockbroker added According to EBL Securities The market witnessed an upbeat tune throughout the week riding on regained confidence among the market participants The stockbroker noted that preferable year-end and quarter-end earnings declarations by several companies helped them to remain positive about market The total turnover for the week amounted to Tk 3591 billion on the DSE which was Tk 3027 billion in the week before The daily turnover averaged Tk 718 billion which was nearly 19 per cent higher than the previous weeks average of Tk 605 billion Block trade accounted for 16 per cent of the total weekly turnover where stocks like BATBC Beximco Pharma Shahjalal Islami Bank Square Pharma and Singer Bangladesh dominated the block trade board Banking sector kept its dominance over the turnover chart grabbing 35 per cent of the weeks total transaction followed by engineering with 18 per cent and pharmaceuticals 11 per cent Out of 336 issues traded 207 closed lower 116 ended higher and 13 issues remained unchanged on the DSE trading floor during the week The market capitalisation of the DSE rose 137 per cent as it was Tk 4123 billion on the opening day of the week and it stood at Tk 4179 billion on closing day of the week City Bank topped the weeks turnover chart with 5390 million shares worth Tk 184 billion changing hands followed by IFAD Autos with Tk 121 billion Brac Bank Tk 10 billion LankaBangla Finance Tk 994 million and Dhaka Bank Tk 926 million Reckitt Benckiser was the weeks best performer posting a gain of 1925 per cent while Stylecraft was the weeks worst loser slumping by 3322 per cent A new issue - Oimex Electrode-- made debut last week and soared 1042 per cent from its offer price of Tk 10 in the first trading day on Monday Source httptodaythefinancialexpresscombdstock-corporatestocks-nudge-higher-as-bank-telecom-issues-surge-1510332934date=11-11-2017

BANGLADESH GROWING AS DENIM HUB The growing global demand for fashionable denim wear encouraged both local and foreign entrepreneurs to make fresh investment in Bangladesh participants and organisers of Bangladesh Denim Expo have said Many of the 30 local denim mills are going for expansion while a couple more will come into operation with fresh investment within next two or three years they said Some foreign companies are opening offices or setting up factories in Bangladesh they added The seventh edition of the two-day Bangladesh Denim Expo was held in the city recently with the theme transparency to highlight the need for transparency in the entire denim supply chain

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A total of 65 exhibitors from 12 countries participated in the show while more than 12 thousand visitors from across the world registered online to attend the two-day expo organisers said Talking to the FE on the sidelines of the expo Md Khalid Mosharof assistant general manager at Dekko Group said the group invested Tk 15 million in setting up a new factory of 44 lines at Ashulia that would go for denim item production in June next The main reason is to tap the growing global demand he said Echoing him Syeed Ahmed Chowdhury general manager operation at Square Denim said the company expanded its denim fabric production capacity to 30 million yards from the existing 15 million yards per month mainly to meet the demand He however opined that the expansion is taking place more in garment segments than in fabric production There is no alternative to expansion to sustain the existing business and achieve the $50 billion garment export earnings target by 2021 Sharif Zahir managing director of Ananta Group said stressing the need for positive branding of the sector Meanwhile Landes a German denim accessories maker started production in its new factory at Savar from this month It invested US $05 million We opened the factory in Bangladesh as we think this is the hub for denim business and there is a lot of business prospects here Manfred Slowik chief operating officer of Landes told the FE at his stall at the expo By the end of next year the total workforce in our new plant will be 120 people as we are recruiting new people from existing 30 Mr Slowik said Landes has a target to produce 500 million pieces of leather patches used in denim trousers as accessories in a year at its Savar plant from where such accessories will be supplied to the whole Asian region Many big brands like HampM VF and Walmart are their customers he said Nezahat Boni senior account manager of Orta a Turkish denim maker said her company supplies 30 million metres of denim fabrics in Bangladesh in a year against only 800 meters in 2011 We opened an office in Bangladesh in 2011 as we cannot ignore the importance of this country as a denim hub she said Prosperity Textile a Chinese company opened its office in Dhaka last year said Md Mujibul Hoque the companys Bangladesh Sales Director The company has targeted sale of 100 million yards a year across the globe while it also targets 30-40 per cent of their sales in Bangladesh Bangladesh is now the top denim products supplier to the European Union overtaking China and third largest to the US after China and Mexico industry people said Bangladesh supplies denim products to major global buyers and retailers including levis G-Star Raw HampM Tesco Wrangler Hugo Boss Walmart and Gap Source httptodaythefinancialexpresscombdtrade-marketbangladesh-growing-as-denim-hub-1510332061date=11-11-2017

EXPORTS UP 70PC IN JULY-OCTOBER Countrys export earnings grew by 703 per cent to US$1150 billion during first four months of the current fiscal year (FY 2017-18) according to official data released Thursday The earnings were $1079 billion in the same period (July-October) last FY In October 2017 the exports grew by 642 per cent to $284 billion the Export Promotion Bureau (EPB) data showed The overall exports in the first four months slightly (074 per cent) fell short of the periods target In October however the exports were 628 per cent higher than the months strategic target Readymade garment shipments fetched $943 billion marking 699 per cent growth during the period as compared to $882 billion in the same period of last FY

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The woven items registered 385 per cent growth in earnings to $445 billion than that of $428 billion in the same period of FY 2016-17 The earnings from knitwear export during the period grew by 995 per cent to $498 billion from $453 billion in the corresponding period of last FY Jute and jute goods exports rose by 1646 per cent to $34501 million from $29626 million in the same period of FY17 The earnings from agriculture products grew by 2022 per cent during the period while home textiles by 2037 per cent The earnings from leather and leather products however fell marginally by 002 per cent to $42844 million during the period than that of $42851 million in the same period last FY The export earnings from frozen food and live fish grew by 1541 per cent to $22691 million from $19661 million of the corresponding period of last fiscal Mahmud Hasan Khan vice president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) said the exports in the first four months of the current fiscal year fell short of the expected growth mainly because of failure in maintaining the lead time and short supply of gas and electricity Terming the knitwears growth satisfactory he said woven items manufacturers have been struggling to cope with the new challenge as buyers were reducing the volume of orders due to failure in meeting the lead time Without efficient port and strong backward linkage industry especially for the woven sub-sector it will be difficult for the sub-sector to bounce back he feared He pointed out that maximum of the woven fabric requirements were being met through imports But it was taking too much time to clear the imported fabrics and additional charges as a result at the Chittagong seaport that was facing unbearable congestion The government should provide necessary policy support to the exporters to establish strong backward linkage industry for the woven sub-sector he added Source httptodaythefinancialexpresscombdfirst-pageexports-up-70pc-in-july-october-1510248870date=10-11-2017

GAS CRISIS HURTING OUTPUT IN INDUSTRIAL BELT Factories in the countrys Tongi-Gazipur industrial belt have been facing acute gas crisis over the past few months following diversion of gas to upstream power plants The crisis has deteriorated further this week albeit some improvements for a few days last week said local industrialists and businessmen According to them if the ongoing gas crisis persists they may be forced to shut down their factories Officials of the Titas Gas Transmission and Distribution Company Limited (TGTDCL) however blamed the Petrobangla for the gas crunch Sources concerned say the industrial belt of Tongi-Gazipur is suffering badly for about four to five months from low pressure of gas coupled with poor electricity voltage -- often resulting in huge volume of industrial wastages and reduction of production efficiency According to the industry insiders a factory in the industrial belt requires 04 PSI (production per square inch) as optimum gas pressure but the pressure at times comes down to as low as 01 PSI these days -- especially during the daytime Gas pressure in the area becomes normal around 10pm11pm and stays for not more than 08 hours until 6am7am an entrepreneur of the industrial belt informed Asked an official of Titas said they are at present getting nearly 250 million cubic meters (MCM) less in recent weeks against their current demand of 1800 MCM gas in Titas franchise The downstream Titas franchise area covers greater Dhaka region which includes Gazipur alongside some other adjoining districts and greater Mymensingh he said

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A Petrobangla source however cited gas supply on priority basis to a number of upstream projects including power plants as reason behind supply shortage When asked Managing Director of Akij Group Sk Bashir Uddin termed the situation really worrisome According to him two of Akij Group companies situated in the area -- Akij Printing amp Packages Limited and Dhaka Tobacco Industries -- jointly contributed nearly Tk 35 billion (3500 crore) to the national exchequer in the 2016-17 fiscal year But were very much worried about our industrial output this year as production disruption following the twin crises involving gas supply and power supply Both will eventually disrupt our retail business in every phase he quipped This often results in a high rate of industrial wastage and reduction of production efficiency he added Bangladesh Auto Re-rolling Steel Mills amp Association Chairman Manwar Hossain who is also Anwar Group Managing Director echoed the same concern Factories in the industrial belt are now operating at one-third of their capacity which may lead to labour unrest and default of huge sum of bank loans he said Such disruption of production he cautions may even cause sudden shutdown of factories According to him none of the victims in that case will be the wilful defaulters -- they will be the victims of circumstances The businessman who has a steel factory called Anwar Ispat Limited in the industrial belt called for immediate introduction of ECM (electronically controlled meters) to check unabated gas engineering in the area which he deems to be yet another reason for gas supply crunch Titas officials according to him are encouraging co-generation scheme to help address the severe gas crisis But he said co-generation will require stable and smooth gas supply Government should ensure at least 10-15 years of smooth gas supply to encourage co-generation as what he said any industrial investment requires 20 years of payback period TGTDCL Deputy Managing Director Engineer Abdul Wahab Talukdar who is also the Project Director of Sripur-Joydevpur Transmission Pipeline Project said We cannot do anything to address the crisis if there is a lack of adequate gas supply Mentioning that all factories in the industrial belt are like my babies he unequivocally said Titas is not at fault He also admitted that priority-based power plants gas supply being the reason behind the current spell of gas crunch We have already started introducing electronic volumetric corrector (EVC) to stop illegal gas use in the area he said Factories he added should go for co-generation scheme for protecting their own interest Co-generation means utilising and absorbing heat generated from gas generators which Mr Wahab said will save energy A section of the businessmen however called for stopping fertiliser production and distributing the same among people at a subsidised price after importing it to facilitate smooth supply of gas to other industries Even if the government stops fertiliser production and opts for importing it for distribution at a subsidised rate there will only be an insignificant loss compared to the overall losses now being incurred said an industrialist who has more than one factory in the industrial belt Local sources said illegal and unapproved gas connections in various industries in and around the zone are also affecting gas supply badly among other reasons Source httptodaythefinancialexpresscombdfirst-pagegas-crisis-hurting-output-in-industrial-belt-1510249018date=10-11-2017

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SINGLE PERSON MAY FORM COMPANY A single person may form a commercial firm under a provision of the companies law being updated along with some other major business-stimulating measures Official sources said the government is considering incorporating some new provisions including one allowing individuals to form any company into the updated Companies Act The other provisions are formation of an appellate tribunal to resolve legal matters without wasting much time widespread automation of companies work and submission of annual company reports online Earlier the Ministry of Commerce (MoC) had received some recommendations from the stakeholders on how to update the law they added We got most of the recommendations from the stakeholders We hope we will be able to prepare the draft Companies Act within a month Md Obaidul Azam director trade organisations (DTO) told the FE He said the recommendations the ministry had received so far were being scrutinised before preparing a draft for updating the companies act Earlier different trade bodies had sent their respective recommendations to the MoC for incorporation into the law The MoC will hold a meeting with the countrys apex trade body after assessing the recommendations and suggestions the ministry official said Talking to the FE a leader of an influential trade body said they had sent some recommendationssuggestions to the MoC for the new Companies Act for betterment of the countrys trade and business According to Section 2 (1) (c) of the Companies Act 1994 Company means a company formed and registered under this Act or an existing company Thus a company is an association of persons formed under the Companies Act 1994 with a view to achieving some common objectives Though a company is regarded a legal person it possesses similar rights and owes similar obligations like a natural person Now any individual fulfilling the new criteria may be allowed to form a firm Source httptodaythefinancialexpresscombdfirst-pagesingle-person-may-form-company-1510249090date=10-11-2017

DSE TURNOVER CROSSES TK 80 BILLION MARK The daily turnover on Dhaka Stock Exchange (DSE) exceeded the Tk 80 billion mark on Thursday as investors took fresh exposure to the banking sector Turnover a crucial indicator of the market reached Tk 870 billion on the countrys premier bourse jumping 14 per cent from the previous days transaction of Tk 765 billion It was the biggest single-day transaction since October 11 when the turnover totalled a record Tk 1092 billion Along with rising turnover DSEX the prime index of the Dhaka bourse continued to keep its gaining momentum closing 3449 points higher at 6193 points DSEX which replaced the DGEN in nearly five years back added more than 121 points or 20 per cent in the past four consecutive sessions The two other indices -- the DS30 index and the DSE Shariah Index (DSES) -- also followed suit to end at 2244 and 1341 points after gaining 1422 points and 443 points respectively Brokers said the market maintained the bullish trend for the four straight sessions as the enthusiastic investors chased the banking sector stocks The market continued the bullish trend for the four consecutive sessions as the enthusiastic investors were active for the banking food and engineering sector stocks commented EBL Securities a stockbroker in its regular market analysis

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It noted that the core index remained positive throughout the session as optimistic investors kept buying sector-wise stocks while some rebalanced their portfolios Meanwhile share price of newly listed Oimex Electrode continued to decline for the three consecutive sessions after unusual hike during its debut trading on Monday The companys share price fell 763 per cent to close at Tk 9810 on Thursday after jumping more than tenfold during the debut trading which experts termed unusual Block trade contributed Tk 241 million to the days total turnover with stocks like BATBC Square Pharmaceuticals Singer Bangladesh and Beximco Pharma dominating the block trade board Among the major sectors pharmaceuticals posted the highest gain of 122 per cent followed by banking sector (083 per cent) food amp allied (067 per cent) engineering (033 per cent) financial institutions (003 per cent) and power (003 per cent) Only telecommunication sector faced a 045 per cent correction A total number of 0140 million trades were executed in the days trading session with trading volume totalling 23171 million securities The total market capitalisation of the DSE stood at Tk 4179 billion against Tk 4168 billion in the previous session Losers however took a modest lead over the gainers as out of 325 issues traded 140 closed lower 130 closed higher and 55 remained unchanged on the DSE trading floor City Bank dominated the turnover chart for the second day in a row with 1035 million shares changing hands closely followed by Dhaka Bank LankaBangla Finance Brac Bank and Keya Cosmetics Reckitt Benckiser was also the days best performer posting a gain of 624 per cent while Qasem Drycells was the days biggest loser shedding 1235 per cent The port city bourse Chittagong Stock Exchange (CSE) also ended higher with its Selective Categories Index -- CSCX --gaining more than 62 points to close at 11618 Losers beat gainers as 113 issues closed lower 97 closed higher and 37 remained unchanged on the CSE The port city bourse traded 1604 million shares and mutual fund units generating a turnover of Tk 483 million Source httptodaythefinancialexpresscombdstock-corporatedse-turnover-crosses-tk-80-billion-mark-1510245247date=10-11-2017

TEN COS GRAB 32PC TURNOVER ON DSE The banking sector continued to dominate the transaction chart of the Dhaka Stock Exchange (DSE) accounting for 39 per cent of the total turnover on Thursday Four banks made their way to the top 10 turnover chart with City Bank leading the chart for the second day in a row Brokers said the investors chased the banking sector issues as more than 63 per cent of listed banks showed positive earnings in the third quarter (July-September period) Meanwhile top 10 traded companies including four banks grabbed more than 32 per cent of turnover on the Dhaka bourse The total turnover on the premier bourse reached Tk 870 billion up 14 per cent from the previous days Tk 765 billion The most active shares in terms of value included City Bank Dhaka Bank LankaBangla Finance Brac Bank Keya Cosmetics Square Pharmaceuticals Beximco Pharmaceuticals IFAD Autos Exim Bank and IDLC Finance According to statistics available with the DSE about 1035 million shares of City Bank were traded generating a turnover of Tk 553 million or 635 per cent of the total transactions

Daily News Flash 12th November 2017

34

The companys share price hovered between Tk 5240 and Tk 5440 before closing at Tk 5390 advancing 228 per cent over the previous session Dhaka Bank came in next with shares of Tk 395 million changing hands contributing 454 per cent to the total turnover The banks share price closed 347 per cent higher at Tk 2380 LankaBangla notched the third spot with shares of Tk 266 million changing hands making up 305 per cent of the total turnover Its share price ended 063 per cent higher at Tk 6430 Brac Bank emerged the fourth with shares of Tk 257 million changing hands grabbing 295 per cent of the total turnover The banks share price settled 123 per cent higher at Tk 107 Keya Cosmetics featured a turnover of Tk 247 million or 284 per cent of the total turnover Its share price closed 201 per cent higher at Tk 1520 The turnover of Square Pharma was Tk 241 million or 276 per cent of the total transaction Its share price ended 612 per cent down at Tk 27890 Beximco Pharma featured a turnover of Tk 211 million or 242 per cent of the total turnover Its share price advanced 428 per cent to close at Tk 10960 The turnover of IFAD was Tk 208 million accounting for 238 per cent of the total turnover Its share price closed at Tk 14070 gaining 195 per cent Exim Bank featured a turnover of Tk 196 million or 225 per cent of the total transaction The banks share price inched up 055 per cent to close at Tk 1830 IDLC also made its way to the top ten turnover chart with shares of Tk 188 million changing hands Its share price closed 223 per cent higher at Tk 9150 Source httptodaythefinancialexpresscombdstock-corporateten-cos-grab-32pc-turnover-on-dse-1510245290date=10-11-2017

FOREIGN INVESTMENT HIKE INFO DRIVES MODERATE GAINS ON DSE The Dhaka bourse Thursday closed the session posting a moderate rise in the broad index and turnover amid mixed performance displayed by major sectors On the day most of the major sectors declined but the turnover crossed Tk 80 billion-mark after two sessions on Dhaka Stock Exchange (DSE) mainly because of investors increased participation in the banking sector According to a market review of International Leasing Securities positive momentum in some big-cap stocks especially from bank food and engineering sectors helped the bourse to close in green The market started the session with a positive note and the DSE broad index DSEX witnessed little ups and downs before closing higher According to AT Capital Partners the market remained sideways till the midsession The DSEX rose again in the second half of the session and closed at 61936 up by 345 points The shariah based index DSES and blue chip index DS30 also rose marginally The turnover stood at above Tk 870 billion which was 1370 per cent higher than the turnover of the previous session The confident drive was initiated by the investors buying spree riding on the news of doubling net foreign investment in stocks year-on-year in the first ten months of 2017 said the International Leasing SecuritiesAmong the gaining sectors bank advanced 08 per cent and engineering 03 per cent Of the losing sectors pharmaceuticals amp chemicals declined 11 per cent telecommunication 05 per cent and textiles 09 per cent The banking sector grabbed 384 per cent of the market turnover at the premier bourse DSECity Bank topped the turnover chart with a value of Tk 553 million followed by Dhaka Bank LankaBangla Finance BRAC Bank and Keya CosmeticsReckitt Benckiser (Bd) limited topped the gainers chart with a rise of 624 per cent to close at Tk 18456 while Quasem Drycells was the worst loser after declining 1235 per cent to close at Tk 8230 Source httptodaythefinancialexpresscombdstock-corporateforeign-investment-hike-info-drives-moderate-gains-on-dse-1510245365date=10-11-2017

Daily News Flash 12th November 2017

35

MORE JAPANESE COMPANIES SEEK TO INVEST IN BANGLADESH Japanese Ambassador to Bangladesh Hiroyasu Izumi has said the Japanese investors are keen to invest in Bangladesh considering the lucrative offer and ideal atmosphere for foreign investment reports BSS The Japanese investors expressed more interest to invest in Bangladesh at recently-held the third round of Public-Private Economic Dialogue between Bangladesh and Japan he said while visiting the Chittagong Export Processing Zone (CEPZ) on Thursday The envoy expressed the hopes that Japanese investment in the Export Processing Zones (EPZs) will increase after the successful dialogue said a press release More and more Japanese companies will come to invest in this country he added General Manager of CEPZ Khorshid Alam maed a PowerPoint presentation highlighting the overall scenario of EPZ as well as Bangladesh Export Processing Zone Authority (BEPZA) Mentioning Bangladesh EPZs as the Bonanza for Investors he said investors from 38 countries have set up industries in the EPZs and invested US $442 billion He informed the ambassador that BEPZA has ensured three layer security system including 24-hour CCTV surveillance in the key points of EPZ and factory premises for the safety of the investors Source httptodaythefinancialexpresscombdtrade-marketmore-japanese-companies-seek-to-invest-in-bangladesh-1510250285date=10-11-2017

Source httpwwwarthosuchakcomarchives388209

১৬০

১১৫ ৪ ৫ ১০ ২০

৩০ ( )

( )

৩০ ২০১৭ ১৫

৩ ও ১২

২ ১৪ ( ) ৩৪

২৪

Source httpwwwarthosuchakcomarchives388257

Daily News Flash 12th November 2017

36

৫৩ ( ) ১৫ ও ২

১ ১ ৪৩ ২১০ ৫৩ ৪৪

৩২ ৫০

৮ ৫৮

২০

১ ২৪

৯ ২৭ ৫৫৫ ৯ ৩৮

-

Source httpwwwarthosuchakcomarchives388125

৩৫ ( ) ৩৫

২৪৫ ৩

১৭ ১১৯ ২১

ও - ১১

৯ ৬ - ৫ ৪

- ও ২

ও ১

Source httpwwwarthosuchakcomarchives388085

- ফ ৪০ ও - ৪০

৬ ( ) ৫ ৯ ৫ ৪৯২ ১১

৫৬ ৪৫১ ২৯

১২ ( ও)

( )

-

- ১০

( ও) ৮০

৪৯ ৩৭ ৯৮

ও ১৭ ১২ ঋ ও

১০ ও ৩ ১০

৩০ ২০১৬ ৩৫ ৬৩

৫ ( ) ৩ ৪৯

Daily News Flash 12th November 2017

37

Source httpwwwarthosuchakcomarchives387762

lsquo rsquo

( )

lsquo - rsquo

( ) ও

২০০২ ( ২ )

৫৪৬

ও ১৫

ও ১৫ ৭৫ ও

১০-১২ ১

১৫৫ ৬৭

ও ২০১০

ও ও ও -

ঋ ঋ

১৫ ৪ ৩

২ ২ ৪ ১৫ ৬

( )

Source httpwwwarthosuchakcomarchives388276

- ও ও

Daily News Flash 12th November 2017

38

৩৮ ও ৪৩

১০০ ৬১ ৫৮ ২২৫ ১ ০৫

Source httpwwwarthosuchakcomarchives387849

- ও ( -২)

৬ ও

ও ৫ ৩০০

ও ও

৭ ২০০

( ও )

ও ও

ও ও

২ - ও mdashlsquo

rsquo ও

-

৫ ৩০০

- ১০ - ৪২৯ -

৩২৮

- ১০

( )

২০১৪

( ও) ও ( )

( )

২ ও ও

ও ও ও

ও ২০১১- ও

ও ( )

Daily News Flash 12th November 2017

39

(১০ ) ৫ ৭৬৩

৬৩ ও

ও ( )

- ২০১৪ ও

ও ও

Source httpwwwprothom-alocomeconomyarticle1362971

ও ও

ও - ও

২০১৬-১৭ ২০ ও

ও ও lsquo rsquo

ও ১০ ও

৭৭ ২০১৭

১৬ ২৭ ও

২০১৬-২০১৭ ২০ lsquo rsquo

ও-

ও ও ও

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564382

ফ ( ও) ১১

ও ও

ও lsquo১১ ও rsquo

১০ ১৩

( ) ( )

Daily News Flash 12th November 2017

40

- ও

-

( )

( )

lsquo ও

rsquo ও

২৬ ১০

১৬

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564383

১ ৫০

ও ২০৫০

২৩

১৬ ৫৯ ২০১১

২০৩০

( )

ঋ ও ও

৬৮ ৬৭

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564384

ফ lsquo

ও ও

( ) ও

- ও

( ও ) ( )

Daily News Flash 12th November 2017

41

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564388

৪৫ ও

৮৪ ৮৩

৯২০

২৭ ২৪ ৭ ৩

৬ ৮৯

৯ ১ ৭২ ১৪ ৪৮

৪৫

ও ১৭ ৫০

১৯৩ ১০ ২০১৫-১৬ ৪১৩ ১০ ও ও

২০১৪-১৫ ৩৭৫ ৮০ ৩৫ ৭০

২০১৩-১৪ ৫১৫ ও

৮১ ২ ৫১ ৩ ২০

২ ও

৮৪

৮১

- ও

৮৩

৮২ ৯৫

ও ও - ও

ও ও ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17112200 - - - -

ও ৫০

ও ( ) ( )

ও ও

Daily News Flash 12th November 2017

42

ও ও

১০০

৮ ও

৩০০ ( )

ও ১৫০

২০০ ১০০

২০০

২৭ ৭

ও ও

ও ৩০ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111811 - - - -

-

২৭ ১১

১০

( ) ২৮৪

৬ ২৮ ৭ ১৫১

৭৪

ও - ও

ও - ও

ও ৩

৭ ১ ২৩

৯৪৪ ৮৮২ ১০

ও ৪ ৭ ও

৪ ৩৮ ও ১৫ ৪১ ২২ ৭০

২০ ৩৬ ১৩ ও

৪৬ ২২ ২০ ও

১৭ ৩৭১ ও ও

১৭ ও ৪৩ ও

Daily News Flash 12th November 2017

43

৬ ২০ ও ১৬

৩৫ ২০ ২৭

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111810 - - - - -

ও ও

১৩০ ও ১৪০

৫৫ ও ৯৭ ১১৩

৩৭

৩৪

৬১৯৩ ৬২ ১১৬১৭

৩০ ১৯

ও ও

ও - ও

৪৮ ৩১

১২ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111808 - - - - -

৩৫ ও ১০

ও ( ) ও

১০

ও ও -

২ ৩০০

২০১৪ ও

ও ৭ ২০১৪ ও ২০১৫

৫ ৭ ও ১২ ৮ ২৩

২০১৩ ১ ৪২০ ২০১৪ ১০ ৫ ১ ৫৭০

১৩ ৪ ও ১ ৩৫৮ ১০

২০১৬ ও ৩ ৫ ১ ৩১০ ২০১৪

২০১৬ mdash ২ ১ ঋ

১০ ও ২০১৩

২৯ ৮০ ২০১৪ ৫ ৭ ৩১ ৫০ ২০১৫

১২ ৩৫ ৩০ ২০১৬ ৭ ৩৭ ৮০

Daily News Flash 12th November 2017

44

২০১৪ ২০১৬

৩২ ৩৫ ও ৫০ ১৯

৫৬

১৭ ৪৬ ২০১৪ ২০১৬

৭২ ১০০ ও ১১১

২০১৪ ২০১৬ ১৫ ৬৩

৯১ ১১৪ ও ১১৮ ৮ ২৩

৮০ ৯০ ও

ও -

ও -

ও ও ও

১০ ও

১০ ও ২২

৭১ ১২ ৪২

৩২ ২৬ ও

ও ও

( ) ও

ও ২০২১ ও ও

৫ ১ ১৬

ও ও

Source httpbonikbartanetbanglanews2017-11-12137992 - - -- -

৫০০ ৫০০ ও

ও ৩০ ২০১৭

৫০০ ও ঋ ২০১৮

৩০

১ ২০ ও ১৫০

১১

Daily News Flash 12th November 2017

45

৩০০ ৬০০

( ) ও

১ ২৫ ও ১০

১০ ও

ঋ ও

৩০ ২০১৭ ৩ ও ১২ ও

( ) ২ ১৪ ২ ১

ও ৩০ ১১

( ) ও ও

( - ) ৬৬ ৫৫ ৩০

( ) ৩৪ ৯০

ও ও ও

( ) ও

ও ও ২০১৫ ৩০ ১০ ২০১৬

১২

( ) ৪১ ২০ ও ২৩ ৬০

৫০ ও

২০১৪ ৩০০ ও ১৪৮ ৪৬ ৫০

১৯১ ৬২ ৩৭ ৩১

১২ ৪৫ ৫০ ২৪

ও ( ) ১৬ ৫৩

ও ১৫ ২২

Source httpbonikbartanetbanglanews2017-11-12137966৫০০- - - - -ও -

৬৩

- ও ও

৬২ ৯৪ ৫

৬২

৯০

২০১৪ - -

- ও

২০১৬-১৭ ৫ ৬২ ও ২০১৩-১৪

১২

( ) ৯০

-

ও - - ও -

Daily News Flash 12th November 2017

46

- ও

৬২ ৯৪

২০১৩-১৪ ৭০ ৭৮ ২০১৪-১৫ ৫৪ ২২

২০১৫-১৬ ৩৯ ৩৩ ও ২৬ ২৩

ও ২০১৩-১৪

১২ ৩৬ ২০১৪-১৫ ৫ ৯১ ও ২০১৫-

১৬ ১৭ ৩০ ৫ ৬২

৩০ ২০১৭ ১০

২ ৮৬ ও ৩

ও ২৪ ( )

২৭

১৯৬৪ ১২

৪ ও ও ১৯৭২

ও ( )

ও ৩৪ ৮ ও

৯০

৪৫ ও ৫

১৯৬৪ ১৯৭২ ১৯৮৯

১০০ ও ২৬ ১৬ ২০ ৫৪৩ ৭৭

৫ - ৫১ ১৫ ৬০ ও

৩২ ৯০

Source httpbonikbartanetbanglanews2017-11-11137853 - - - - - -৬৩---

( ) ও

১০

ও ও ও

-

ও ও

ও ঋ ও

ও ২০১৪ ও

ও ও

২০১৩

( ) ও

Daily News Flash 12th November 2017

47

২০১৪

২০১৪-১৬ ও

২০১৪

ও ২০১৪

২০১৫ ২৭ lsquo ও rsquo

ও ও

২০১৬ ২৪

( )

ও ও

- ও

ও ও ১৯৮৩ ২০১৬

ঋ ( ) ৫৬০

৮৬৪

২০১৬ ২০১৯ ও

ও ১৫ ২৫ ৩০ ও ৩০

ও ঋ ও

২০১৬ ঋ ১

৩৪২ ঋ ৬ ৫২ ১২৩

ঋ ২ ৪৪৩ ঋ ১০

৮৪ ঋ ৪০

৭২৬

ও ২০১৬ ৭৪১

৪৫৭

২০৭ ২৪৪

১০ ও

ও ও ও ও ও

Daily News Flash 12th November 2017

48

Source httpbonikbartanetbanglanews2017-11-12137998 - - - - - ও- -

( )

৩০ ২০১৭ ২০

( ) ২ ১ ১ ৫৯ (

) ৩০ ( ) ১৫ ৩৭

ও ২৮ ১১

( ) ২৮

২০১৬ ৩০ ১৮ ২০

২০১৪ ও ২০

১৫ ৩০

১৮ ৮০ ও ৯ ৬০

Source httpbonikbartanetbanglanews2017-11-11137850 - - - -

ফ ৭ ২০১৭-১৮ ৭ ৩ ৭৪

( ) ও

( - ) ১ ১৫০ ৫৮

(২০১৬-১৭) ১ ৭৫ ৩ ৬০ ৭

৩ ১ ১৫৯ ২০ ৭৪

ও mdash

৬ ৬৫ ১৭ ৬৩

mdash ও ও

১৫ ৪১ ২২ ৬৯ ১০

১৯ ৬৬ ১০ ২০ ২২

mdash ও ও ও

৩৯ ৫১ ও ২ ও

১৬ ৪৬ ও ও ৬ ৯৯ ও

৩ ৮৫ ৯ ৯৫

১৯ ৮২

৮০

ও ( )

mdash

Daily News Flash 12th November 2017

49

ও ও

Source httpbonikbartanetbanglanews2017-11-10137755 - - - -৭- - --

ফ - ফ ও -ও

-ও

-ও

২৯-১০-২০১১ ৩ ( ) ২৮-১০-২০১৪

৩ ( ) ২৮-১১-২০১৬

২৮-১০-২০১৭ ৩ ( )

২০১৬-১৫৮১৩৪ ৪৪ ০৭-০৮-

২০১২ ১২(৬) ২ ( ) ৬ ( )

-ও - ও ২ ( )

৬ ( ) ও ও

-ও ৩ ( )

-

ও ও

১৯৯৪

২ ২২-০৫-২০১২ -ও ৩

- -

১৯৯৪

-ও

- ও

( )

১৯৯৪

১৯৯৪ -ও

Source httpwwwsharenews24comindexphppage=detailsampnc=1ampnews_id=6587

Daily News Flash 12th November 2017

50

ফ ফ

১৫ ও

-( ) ও

৪৯

১৬ ৮৫

৫১ ৪৯

৪ ৩৬

১৯১৩

১০০ ও ১৯০১ ১৯৬০

Source httpswwwdailystockbangladeshcom - - - -

- ( -১)

( ) ৮

৩০০ ও

( ) ১৬

- ২২৮ ৪৯ ১৮৩ ২০১৮

( ) ও

১৫০

( ) ও ৪০ ৩০

ও ও

ও ও

Source httpswwwdailystockbangladeshcom - - -

Page 11: Daily News Flash, 12th November, 2017 -  · PDF filebanglalink's revenue falls 4.57pc in q3 ... banks lack remedial strategy while npl rises worryingly

Daily News Flash 12th November 2017

11

Saiful Islam president of Leathergoods and Footwear Manufacturers and Exporters Association of Bangladesh (LFMEAB) said the condition of the customs department at the Chittagong port has worsened Customs officials take a lot of time to scrutinise the imported goods meant for manufacturing in the factories Islam said adding that the Chittagong port should have a contingency plan to avoid any kind of sudden deterioration in the system Abu Taher former chairman of the LFMEAB said the global market size of leather goods is $240 billion and in a few years time China will be importing another $100 billion worth of leather and leather goods and footwear ldquoSo we have a lot of opportunity to export leather goods worldwide We need export diversificationrdquo Taher said The demand for diversified jute goods like yarn has been increasing worldwide so the scope for jute and jute goods exports is also rising worldwide said Mahmudul Haque managing director of Sadat Jute Industries Limited ldquoWe need the governments support to make the best of this global opportunityrdquo he added MA Mannan state minister for finance and planning said sometimes the governments activities are stopped through filing writ petitions in the court ldquoThis is one of the major reasons for the slow progress of the governments development projectsrdquo he added Abdul Qayyum associate editor of the Prothom Alo moderated the roundtable Source httpwwwthedailystarnetbusinessexporters-seek-long-term-tax-energy-policies-1489123

DOLLAR SUDDENLY BECOMES DEARER

A frequent traveller who often buys foreign currency from an international bank in Dhaka was charged about Tk 86 for a US dollar on Wednesday Just a month ago he bought a dollar for Tk 83 This sudden rise in dollar price might not make much of a difference to individuals who purchase foreign currency in small amounts and infrequently but for importers who have to settle huge bills it is a major blow For instance if the price of a dollar goes up by even Tk 1 the importer has to bear an additional cost of Tk 10 lakh for $1 million Presently the bills for collection sell rate (at which import payments are made) of a dollar hovers around the Tk 83-mark and the rate goes up further for foreign banks that dominate the currency market The situation has forced the Bangladesh Bank to intervene sitting down with the banks and treasury officials twice in the last two weeks other than selling greenbacks Bankers blamed the depreciation of the local currency on the mismatch between demand and supply of the dollar

Daily News Flash 12th November 2017

12

Remittance and exports the two major sources of foreign currency for Bangladesh are in the slow lane while imports have ballooned Yesterday the inter-bank exchange rate of the US dollar stood at Tk 8095 up from Tk 7849 a year earlier The central bank has already sold $126 million to banks this month to halt the depreciating trend of the taka according to a Bangladesh Bank official ldquoBut it is not yielding the desired result as the demand for the US dollar continues to riserdquo From July 1 to November 9 the central bank has sold $440 million to banks In contrast it sold $175 million and purchased $193 billion during the course of fiscal 2016-17 Some banks are now trading the US dollar with each other bypassing the inter-bank exchange rate set by the central bank meaning that they completed the transaction beyond the rate the BB official said The central bank has put a cap on the US dollar at inter-bank exchange rate plus Tk 2 on April 27 in a meeting with the Association of Bankers Bangladesh with a view to keeping the market stable Besides on Monday it warned a number of banks for such unethical practice and asked them to strictly follow the inter-bank rate to settle foreign exchange transactions among them ldquoSome banks had secretly struck up deals between themselvesrdquo said Md Arfan Ali managing director of Bank Asia adding that the banks were forced to settle transactions at the higher rate because of the scarcity of the US dollar Banks usually do not get greenbacks from the central bank which compelled them to settle the deal avoiding the inter-bank rate said Syed Mahbubur Rahman managing director of Dhaka Bank Subsequently he urged the government to take initiatives to increase export earnings and remittances to ensure steady supply of the US dollar ldquoThe current account balance posted a huge deficit in the first quarter of the fiscal year This reflects the existing foreign currency shortagerdquo he added Between the months of July and September the current account deficit stood at $179 billion in contrast to $539 million in the surplus a year earlier according to data from the central bank During the period the trade deficit widened to $365 billion from $156 billion a year earlier Source httpwwwthedailystarnetbusinessdollar-suddenly-becomes-dearer-1489096

POLICY SUPPORT NEEDED TO DIVERSIFY EXPORTS ANALYSTS The government should extend its policy support beyond the garment sector in order to diversify exports said experts yesterday ldquoWe will have to give importance to various promising sectors which are apparently not visible like the garment sector to diversify exportsrdquo said Prof Wahiduddin Mahmud an eminent economist He said the government would have to provide subsidies to small sectors mostly manufacturing industries to carry on the existing export growth momentum He was speaking at the Bangladesh Enterprise Institutes stakeholder consultation workshop on ldquoExport Diversification Challenges and Prioritiesrdquo IFIC Bank organised the programme at its headquarters in Dhaka Commerce Minister Tofail Ahmed said Bangladesh would be able to reach its export target of $60 billion by 2021 Prof Mahmud said the manufacturing sector should be focused to make the countrys growth export-led Otherwise it would not be possible to maintain the current share of exports to the GDP after two or three years Salman F Rahman vice-chairman of Beximco Group who chaired the workshop said the government will have to extend the bonded warehouse facilities to all sectors and give cash incentives to small sectors

Daily News Flash 12th November 2017

13

He said the government is cutting various policy supports including cash incentive for the garment sector ldquoBut it is not the right time to discontinue the incentivesrdquo The businessman urged the government to continue its support so that the garment sector can maintain its growth momentum Mustafizur Rahman a distinguished fellow of the Centre for Policy Dialogue said intra-garment diversification needs to continue to boost exports He said the exchange rate should be kept at the level that helps exporters The economist said pharmaceutical leather and light engineering sectors have huge opportunities to contribute to exports if they receive supports Allah Malik Kazemi change management adviser to the Bangladesh Bank said the global slowdown has affected the exporters He said the central bank keeps the interest of exporters in mind while managing the foreign exchange market Md Nojibur Rahman chairman of the National Board of Revenue said there is political commitment from the government to stand by exporters He emphasised export diversification saying the NBR also has a role to play by way of supporting small sectors Kazi M Aminul Islam executive chairman of the Bangladesh Investment Development Authority said the government would have to put more emphasis on agriculture and manufacturing sectors to diversify exports He said the garment sector grew fast riding on the policy support provided by the government in areas such as bonded warehouse exchange rate and incentives ldquoOther promising sectors should be provided the same policy support so that they can growrdquo he said Mohammad A Razzaque project leader of the BEI said it is stated that the non-garment exports will not grow because of the policy support provided to the garment sector He disagreed with the argument saying promoting export diversification and maintaining the garment sector dynamism must go hand in hand BEI President Farooq Sobhan also spoke Source httpwwwthedailystarnetbusinesspolicy-support-needed-diversify-exports-analysts-1489081

DIGITAL HUNDI SHRINKS REMITTANCE FLOW THROUGH BANKS BIBM Hundi traders have been fast transferring remittance to relatives of expatriate Bangladeshis through mobile services which have resulted in a fall in the amount of money sent through banking channels This was reflected in a research report by the Bangladesh Institute of Bank Management (BIBM) The report titled ldquoIncreasing flow of remittance through banking channel Bangladesh contextrdquo was placed at a seminar at the BIBM auditorium yesterday A six-member team led by BIBM Director Shah Md Ahsan Habib prepared the report According to the report remittance flow decreased in recent times all over the world but the fall in Bangladesh was more as it accounted for a considerably high amount of remittance generated in total The report identified several reasons for which remittance was plunging including bank branches being distant from the houses of remitters relatives The report also mentioned a lack of good behaviour on the part of bankers requirement of various documents and weekly holidays as causes BIBM Supernumerary Professor Yasin Ali said the scope of mobile banking has much increased in the last five year but banks have failed to utilise the channel He said banks have to provide remitters the opportunities which were offered by unofficial channels otherwise inflow of remittance through the banking channel would plummet

Daily News Flash 12th November 2017

14

Another BIBM Supernumerary Professor Helal Ahmed Chowdhury said the cost of sending remittance through banking channels was higher the effect of which was falling on remittance inflow Chowdhury said an initiative has to be taken to slash the cost of transferring remittance to increase the inflow through banking channels SK Sur Chowdhury deputy governor of Bangladesh Bank said remittance flow to Bangladesh declined by 1110 percent in 2016 due to lower oil prices and fiscal policy tightening in the Gulf Cooperation Council countries It is hoped that awareness programmes would encourage non-resident Bangladeshis to come forward to know the importance of channeling their money through banks he said Chowdhury also said to ease the flow in the formal channel Bangladesh Bank has reduced the security deposit requirement for exchange houses abroad to establish drawing arrangements with local banks In addition to their own bank branches and ATM booths banks are now using the branch networks of microfinance institutions and post offices as sub agents for remittance distribution Remittances are also distributed through agent banking such as that provided through Singer Bangladesh Limited outlets he said Furthermore Bangladesh Bank has established a separate ldquoFinancial Integrity and Customer Interest Protection Departmentrdquo to handle complaints and suggestions of customers or stakeholders at home and abroad to ensure smooth and hassle free services The ldquo16236rdquo hotline is to address customers hassles if any He said at the moment no bank can take more than two days in reaching remittance to designated beneficiaries Source httpwwwthedailystarnetbusinessdigital-hundi-shrinks-remittance-flow-through-banks-bibm-1489075

JOINT VENTURE TO PRODUCE 600MW IN MATARBARI

A joint venture between Japans Mitsui amp Co and a state-run Bangladeshi company is going to set up a liquefied natural gas-based power plant at Matarbari in Maheshkhali upazila to produce 600 megawatts of electricity Coal Power Generation Company Bangladesh Ltd yesterday signed a primary agreement with Mitsui amp Co to this effect in Dhaka on Wednesday according to a statement of the power and energy ministry The companies will have 50-50 ownership in the joint venture that will complete the project by 2021 The government has taken initiatives to import a huge amount of LNG from next year Both land-based and floating LNG terminals will be set up The government has approved two floating LNG terminals each of which will supply 500 million cubic feet of gas per day In July state-run Petrobangla and US-based Excelerate Energy signed the final deals to set up Bangladeshs first LNG terminal in Maheshkhali which will supply gas to the national grid from early 2018 The government also awarded Summit Group the work to set up the countrys first floating LNG terminal also in Maheshkhali This one is due for commissioning by next October Source httpwwwthedailystarnetbusinessjoint-venture-produce-600mw-matarbari-1489069

Daily News Flash 12th November 2017

15

EXPORTS TO EU STATES BUT GERMANY POST ENCOURAGING GROWTH

Bangladeshrsquos export earnings from European countries except Germany registered a significant growth in the July-October period of this financial year 2017-18 riding on an excellent performance of readymade garment products According to the Export Promotion Bureau data exports to major European countries registered double digit growth in the four months of FY18 while the RMG export to Germany fell in the period compared with that in the same period of last fiscal year The EPB data showed that Bangladesh suffered a negative export growth in two promising markets mdash Japan and China mdash in the July-October period of FY18 Exporters said that earnings growth in the EU markets increased in recent months as the euro appreciated against the dollar They also said that buyers and brands cut import orders from Bangladesh for their Chinese stores that caused the negative growth Export earnings from the UK the second largest export destination for Bangladesh in the EU grew by 2084 per cent to $134 billion in the four months of FY18 from $111 billion in the same period of FY17 Earnings from apparel products fetched $125 billion with 2227 per cent growth in the period Export earnings from Spain in July-October in FY18 grew by 2581 per cent to $80102 million from $63670 million in the same period of FY17 Export earnings from the Netherlands rose by 3416 per cent to $40108 million in the four months of FY18 Bangladesh earned $58097 million from France with 270 per cent growth and $46374 million from Italy with 1206 per cent growth Exports to Germany the second largest export destination for Bangladesh in the July-October period of FY18 stood at $186 billion the same amount earned in the July-October period of FY17 Anwar-ul-Alam Chowdhury Parvez former president of the Bangladesh Garment Manufacturers and Exporters Association said exports depend on season and the earnings from Germany would increase from November RMG export earnings fell by 039 per cent to $173 billion from $174 billion in the market data showed lsquoWe have to wait to identify the reasons for the stagnancy of growth in the German market Hopefully the export would rebound in the market in the coming monthsrsquo Md Fazlul Haqe former president of the Bangladesh Knitwear Manufacturers and Exporters Association told New Age on Saturday

Daily News Flash 12th November 2017

16

Export earnings from the US the largest destination for Bangladeshrsquos exports in the July-October period of FY18 grew by 228 per cent to $187 billion from $183 billion in the same period of FY17 Apparel export to the market grew by 244 per cent to $168 billion from $164 billion The EPB data showed that the countryrsquos export earnings from Japan in the July-October period of FY18 fell by 394 per cent to $33390 million from $34760 million in the same period of FY17 Export earnings from China in the four months of the FY18 decreased by 2242 per cent to $22475 million from $28971 million in the corresponding period of last fiscal year Parvez said that the domestic consumption in China slightly decreased in recent times and global retailers also cut import orders from Bangladesh for their Chinese stores due to congestions in the Chittagong port lsquoWe are losing many orders from global brands as we have been failing to meet lead time due to the problem in the portrsquo he said Source httpwwwnewagebdnetarticle28200exports-to-eu-states-but-germany-post-encouraging-growth

REHAB LEADERS DEMAND CUT IN TAXES Realtors on Saturday urged the government to cut tax rates at different levels of the housing sector to give a much-needed boost to the sector They also requested the government not to raise question over the source of the minimum paid up capital (Tk 1 crore) a real estate company requires to be a member of the Real Estate and Housing Association of Bangladesh REHAB leaders made the requests at a joint meeting with the National Board of Revenue held in a city hotel on the day NBR chairman Nojibur Rahman attended the meeting as chief guest while REHAB president Alamgir Shamsul Alamin senior vice-president Nurun Nabi Chowdhury Shaon and vice-president Liakat Ali Bhuiyan were also present among others Alamgir said that the REHAB made it mandatory for its member companies to have Tk 1 crore paid up capital and he requested the government not raise question over that money The government earlier made it mandatory for all developer companies to be REHAB members Alamgir also urged the government to form a re-financing fund worth Tk 20000 crore under Bangladesh Bank to provide low-interest and long-term loans to the potential apartment buyers He demanded apartment registration fee to be reduced to 65 per cent from the existing 155 per cent mentioning that other SAARC countries maintained it at 4-7 per cent Alamgir said that the government was losing huge revenue due to the high apartment registration fee as buyers were showing unwillingness to register their apartments at high cost Nurun Nabi urged the government to meet the REHABrsquos longstanding demands to save the housing sector from ruination He also called for reducing corporate tax of non-public traded companies to 20 per cent from the existing 35 per cent He sought a cut in the tax on signing money to 75 per cent from the existing 15 per cent Alamgir also appealed for reducing tax rate on apartment resale to 3 per cent He also sought total 15 per cent tax and VAT on professional services like engineering and architecture from the current 27 per cent Nojibur said that an NBR-REHAB joint working group would be formed to work together for the betterment of the housing sector He also requested REHAB leaders to provide opinions on the income tax law that would be amended soon He assured them that the NBR would consider their demands Source httpwwwnewagebdnetarticle28201rehab-leaders-demand-cut-in-taxes

Daily News Flash 12th November 2017

17

BrsquoDESH BHUTAN START TRADE DATA SHARING IN JAN Bangladesh and Bhutan have decided to start exchanging export-import data from January 1 to verify trade documents to check duty evasion and other customs-related offences through misdeclarations of goods and prices during trades between the two countries The data will be mailed in the first week of the subsequent month according to the decision taken at the 3rd Bangladesh-Bhutan joint group of customs meeting held in November 7-8 in Thimphu the capital of the Himalayan kingdom Initially both sides will exchange export data of three commodities and gradually the scope will be expanded to all the export items Delegations from the both sides also agreed to boost the existing trade volume between the two countries and improve infrastructure at land customs stations of Bangladesh and Bhutan to facilitate border trade Bhutan informed the meeting that they were establishing a mini dry port at Phuentsholing which would boost border trade between the countries National Board of Revenue member (customs audit modernisation and international trade) Khondaker Muhammad Aminur Rahman and Bhutanrsquos Department of Revenue and Customs director Yonten Namgyel led the respective delegations at the meeting Following a request from Bangladesh Bhutan agreed to put necessary information including country of origin name and address business identification number and tax identification number of importer on the export packages as per the current Import Policy Order of Bangladesh Both sides also agreed to hold ground-level customs meetings twice a year alternately at Phuentsholing of Bhutan and Burimari of Bangladesh to resolve customs-related problems smoothly The two countries also decided to raise the issue of improving the infrastructure at Changrabandha (Indian LCS opposite to Burimari of Bangladesh) and Jaigaon (Indian LCS opposite to Bhutanrsquos Phuentsholing) to ensure smooth border trade between the countries Bangladesh also requested the landlocked kingdom to use Nakugaon-Dalu-Gelephu route for their imports and exports as Bangladesh has decided to upgrade Nakugaon LCS as a trade hub for border trade with India and Bhutan Bangladesh side also underscored the potentials of use of riverine routes as mode of transport for export and import of goods Bhutan may also get duty-free market access for limestone powder export to Bangladesh according to the decision of the meeting Mohammad Ehteshamul Hoque NBR first secretary of customs modernisation and international trade on Saturday told New Age that both countries had resolved some small-scale problems to facilitate bilateral trade and committed to further enhancing border trade The planned ground-level meeting of customs officials will also play a role in identifying and resolving bottlenecks in trade between the two nations he said According to the NBR data Bangladesh exported products worth $322 million to Bhutan in the fiscal year 2016-2017 while it imported from the country products worth $3315 million Bangladeshrsquos highest export earnings from the country were $913 million posted in the FY 2011-2012 and the earnings have been declining with fluctuations over the years Bangladeshrsquos major export items to Bhutan are bakery items fruit and vegetable juices tableware kitchenware and toiletry articles of plastics non-alcoholic beverages menrsquos singlets briefs pyjamas medicament mixtures rice aluminium structure and few garment items On the other hand the country imports mainly citrus fruits stone granite dolomite limestone ferro-alloys apple and gypsum from Bhutan Source httpwwwnewagebdnetarticle28202bdesh-bhutan-start-trade-data-sharing-in-jan

Daily News Flash 12th November 2017

18

TAX FAIRS AT ALL ZONES BEGIN TODAY Income tax fair begins today at all income tax zones across the country to provide taxpayers with services in a similar hassle-free atmosphere they got at recently-concluded countrywide weeklong tax fair National Board of Revenue chairman Md Nojibur Rahman on Saturday in a statement said that the decentralised fair at the zones with similar facilities like the weeklong national tax fair would continue till November 30 the last day of income tax returns submission Tax officials will also start issuing income tax ID cards from November 20 to the taxpayers under each tax zone in Dhaka Issuance of ID cards will continue till November 28 There are 31 income tax zones across the country including 15 in Dhaka and four in Chittagong Officials of the revenue board said that the NBR took the decision so that all taxpayers could file their tax returns without any hassle with maximum support from tax officials Initially the NBR planned to issue ID card from November 9 which was deferred due to lack of preparation Source httpwwwnewagebdnetarticle28203tax-fairs-at-all-zones-begin-today

BTRC LIKELY TO LOSE RIGHTS OVER UNUSED BALANCE IN BLOCKED SIMS Mobile phone operators are likely to get relief from paying the government the unused balance in the SIM cards that would be blocked by the telecom regulator for various reasons especially for illegal voice-over internet protocol calls Mobile operators however will have to return the unused balance to its owner if claimed said officials of Bangladesh Telecommunication Regulatory Commission They said that a proposed amendment to the 4G licencing guidelines that would be passed by the telecom regulator in the upcoming commission meeting following instruction from prime ministerrsquos ICT advisor and posts and telecommunication ministry The instruction was made based on a meeting between the mobile phone operators and the government high officials on the proposed 4G licencing guidelines they said As per the BTRC approved draft 4G licencing guidelines that would be revised it was mandatory for all the operators to pay the BTRC the remaining balance amount of the identified illegal prepaid VoIP callers and unsuccessful or fake SIM registration of service connection fund at the time of deactivating them It was also mentioned in the guidelines drafted earlier that there would not be any rights of the mobile network operators over the forfeited account balance of the illegal VoIP callers Whereas it was also mandatory for the operators to pay the remaining balance of such SIM cards within ten days of the following month In case of deactivation of SIM cards for illegal VoIP calls mobile operators would keep the remaining balance while operators would have to pay the balance to its owner if claimed for deactivation of SIM cards for any other reason Such specification about the unused balance would help the operators while the government would lose its rights over the forfeited fund BTRC officials said Such initiative might foil another BTRC move to take stand against the mobile phone operators for non-payment of unused balance in the SIM cards which were blocked by the telecom regulator for various reasons Countryrsquos leading mobile phone operator Grameenphone in February this year deposited Tk 733 crore to the telecom regulator against the unused balance in the connections that were blocked between 2008 and 2014

Daily News Flash 12th November 2017

19

While other operatorsmdash Banglalink Robi Airtel Citycell and Teletalk mdash were yet to pay any fund to the commission in this regard Airtel formerly known as Warid Telecom has already merged with Robi in November 2016 Apart from the unused balance issued the government acknowledged almost all the issues raised by the mobile phone operators about the 4G licencing guidelines BTRC officials said Source httpwwwnewagebdnetarticle28107btrc-likely-to-lose-rights-over-unused-balance-in-blocked-sims

BONDED WAREHOUSE BACK-TO-BACK LC SHOULD BE OPEN TO ALL EXPORTERS Bonded warehouse facility and back-to-back letter of credit facility should be open for all for the export of all sorts of goods to diversify export products said experts and businesses at a workshop on Thursday They came up with the observation while speaking at a stakeholdersrsquo consultation workshop on lsquoExport Diversification Challenges and Prioritiesrsquo organised by Bangladesh Enterprise Institute at IFIC Tower in Dhaka Commonwealth Secretariat adviser and head of international trade and regional cooperation Section Mohammad Razzaque presented a keynote paper on lsquoRevitalising Bangladeshrsquos export trade Policy issues for growth acceleration and diversificationrsquo Razzaque in his presentation said that there should be alternatives of diversifying export destinations and products to achieve $60 billion export target by the year 2021 Although the country has continued to achieve more than 6 per cent growth export to GDP ratio has declined a bit in last couple of years and to increase the ratio for sustaining economic growth there was no alternative to increasing exports he said To facilitate export diversification and ensure equal facility treatment among the exporters all the sectors should get bonded warehouse facility as well as back-to-back letter of credit facility that helped the countryrsquos readymade garment sector to grow Razzaque said Salman F Rahman private sector development advisor to prime minister also said that the bonded warehouse and back-to-back LC facilities should be opened for all to support other exporters Suggesting for the continuation of existing facility for the RMG sector Salman also president of BEI said lsquoWe need product diversification for the economic growth but not at the cost of RMG sectorrsquo Former Dhaka University economics department chairman Wahiduddin Mahmud said that the gov ernment should set a broad category and announce subsidy and cash incentives for longer period to help the sectors to contribute to exports as well as economic growth Speaking about the exchange rate issue the eminent economist also said lsquoAs balance of payment has turned negative the government should not try to control the exchange rate anymorersquo Centre for Policy Dialogue distinguished fellow Mustafizur Rahman said lsquoApart from diversification of other products intra-RMG sector product diversification is also important as we have created a strong foothold in the sector and itrsquos a one trillion dollar marketrsquo Speaking about the repeated change in policy Federation of Bangladesh Chambers of Commerce and Industry president Shafiul Islam Mohiuddin said lsquoElectricity price has been doubled with just a so-called hearing and that led our foreign partners to backtrackrsquo Speaking about the 070 per cent source tax imposed on apparel sector commerce minister Tofail Ahmed said rsquoAlthough we cannot do a lot for the sector but such tax should not remain on the sectorrsquo Source httpwwwnewagebdnetarticle28039bonded-warehouse-back-to-back-lc-should-be-open-to-all-exporters

Daily News Flash 12th November 2017

20

GOVT TO SPEND FUND FOR TOBACCO CONTROL MEASURES CAMPAIGNS The government has finally framed a policy on the use of health development surcharge it imposed on tobacco products three and half years ago The health and family welfare ministry on Wednesday issued the gazette notification of Health Development Surcharge Management Policy-2017 identifying 16 sectors for spending the fund on The fund will mainly be used for limiting the demand for and supply of tobacco products financing tobacco control activities conducting researches and campaigns and operating Tobacco Tax Cell of the National Board of Revenue The revenue board in July 2014 imposed 1 per cent surcharge on all tobacco products both locally produced and imported ones aiming to spend the fund for implementing the programmes to control and discourage the use of tobacco products and prevent tobacco-related diseases In the last three fiscal years (2014-15 2015-16 and 2016-17) the tax authority collected around Tk 900 crore as health development surcharge from tobacco products including cigarette bidi gul zarda and other smoking and chewing tobacco products But the fund remains idle as the health ministry has not got the access to the fund over the years as there was no policy on how to the money be used Officials of the revenue board said that formulation of the policy had paved the way for utilising the fund for tobacco control and prevention of tobacco-related diseases They said that every year around Tk 300 crore would be added to the fund According to the policy the collected surcharge will be used for financing national tobacco control activities operation of the NTCC under the ministry campaigns in the mass media on health hazards of tobacco products and tobacco control and providing trainings to stakeholders The fund will also be used for setting up National Quitline a hotline to help people quit tobacco consumption and providing financial and technical support to organisations for implementation of programmes to prevent tobacco-related non-communicable diseases Programmes will also be taken to create awareness among farmers against tobacco cultivation and motivate them to cultivate alternative crops according to the policy According to the policy a Health Development Surcharge Management Committee headed by the health minister will supervise the proper use of the fund The National Tobacco Control Cell will provide secretarial support to the committee Fund from other sources such as possible imposition of any surcharge on products hazardous to health in future and donations from local and foreign sources will also be added to the fund it said The expenditures from the fund will be audited in line with the methodology followed for the other government agencies it said According to the Global Adult Tobacco Survey-2009 some 413 crore people or 43 per cent of the total population of Bangladesh consume tobacco products On the other hand 430 crore people are victims of indirect smoking According to the World Health Organisationrsquos 2004 data 57000 people die every year in Bangladesh suffering from tobacco-related diseases The government has taken an initiative to make the country smoking free by 2040 Source httpwwwnewagebdnetarticle28040govt-to-spend-fund-for-tobacco-control-measures-campaigns

STUDY BLAMES MOBILE HUNDI FOR FALLING REMITTANCES THRU BANKING CHANNEL A study of Bangladesh Institute of Bank Management on Thursday blamed Hundi through mobile financial services including bKash Rocket mCash and UCash for decreasing remittance through banking channel

Daily News Flash 12th November 2017

21

The study conducted by a six-member team identified distance of bank branches delay in receiving money misconduct by bankers submission of various documents weekly holidays of banks and illegal immigrants as the reasons for increasing remittance inflow through mobile Hundi The six-member team headed by BIBM director Shah Md Ahsan Habib presented the study at the seminar presided over by BIBM director general Toufic Ahmad Choudhury held in the auditorium of the institute in the city lsquoIn Bangladesh remittances declined by an estimated 111 per cent in 2016 in the face of lower oil prices and fiscal tightening in the GCC countries Among other reasons use of Illegal channel by the expatriates is doing harm to our countryrsquo Bangladesh Bank deputy governor Shitangshu Kumar Sur Chowdhury said He said that it would not be possible to stop Hundi totally but BB is working to check the transactions through the illegal channel To ease the formal channel BB has reduced the security deposit requirement for the exchange houses abroad to make arrangements for remittances with local banks Shitangshu said The BB deputy governor hoped that Non-Resident Bangladeshis would come forward to know the importance of their money to be sent through banking channels BB former executive director Yasin Ali said that national economy was being hindered due to remittance inflow through illegal channels He suggested using mobile banking facilities for remittance inflow saying that the area of mobile banking expanded many fold in last five years Helal Ahmed Chowdhury former managing director of Pubali Bank suggested bankers to be courteous with bank customers Source httpwwwnewagebdnetarticle28041study-blames-mobile-hundi-for-falling-remittances-thru-banking-channel

POLICY SUPPORT MUST TO DIVERSIFY EXPORT BASKET Speakers on Thursday said that in order to diversify the countryrsquos export basket export-oriented businesses should be given the policy support that has proved highly successful in bringing vibrancy to the countryrsquos RMG sector They were speaking at a workshop styled ldquoExport Diversification Challenges and Prioritiesrdquo organised by Bangladesh Enterprise Institute (BEI) in the auditorium of International Finance Investment and Commerce Bank in Dhaka Dr Mohammad A Razzaque former head of International Trade Policy at Commonwealth Secretariat in London presented a keynote paper in the programme chaired by Salman F Rahman private sector development advisor to Awami League President and Prime Minister Sheikh Hasina Skill development measures may also play a vital part in this regard Salman said export diversification would be possible only when adequate and appropriate policy support is provided to all export-oriented industries Dr Razzaque in his keynote paper suggested revamping and deepening policy support such as providing cash assistance and bonded warehouse facilities to all such industries to improve their export competitiveness He also highlighted the need for further expanding Bangladeshrsquos export basket as its penetration into global export markets in the last decade was very insignificant Eminent economist Prof Wahiduddin Mahmud said ldquoIn addition to providing subsidies and cash incentives to thriving and promising sectors on a long-term basis the government should take measures to strengthen the countryrsquos manufacturing baserdquo

Daily News Flash 12th November 2017

22

Shafiul Islam Mohiuddin president of the Federation of Bangladesh Chambers of Commerce and Industry said the governmentrsquos support is a must to create a strong manufacturing base for export diversification ldquoSkill development measures may also play a vital part in this regardrdquo Addressing the event as the chief guest Commerce Minister Tofail Ahmed said export diversification depends on businessmenrsquos initiatives He however pledged all necessary support from the government for export diversification to meet the countryrsquos $60 billion export target by 2021 BEI President Farooq Sobhan emphasised engaging the private sector in relevant policy discourses to achieve the target ldquoA private sector-oriented policy mechanism is very important as rapid changes are taking place in the global trade landscape Understanding implications and generating timely policy responses to unfolding developments will be meaningful only when the private sector is able to benefit from themrdquo said Sobhan Among others Mustafizur Rahman a fellow at the Centre for Policy Dialogue Kazi M Aminul Islam executive chairman of Bangladesh Investment Development Authority Bijoy Bhattacharjee vice chairman of Bangladesh Export Promotion Bureau and Md Nojibur Rahman chairman of the National Board of Revenue also spoke Source httpwwwdhakatribunecombusinesseconomy20171109policy-support-must-diversify-export-basket

BANKS LACK REMEDIAL STRATEGY WHILE NPL RISES WORRYINGLY Some of Bangladeshs banks dont have in-depth look into the problem of spiraling non-performing loans (NPL) while many others try to frame remedial strategies perfunctorily Such observations came out from studies on banking as well as financial sector at large as the NPL surge worries many quarters One finding shows that around 11 per cent of the countrys banks did not have an in-depth look into the issue of NPLs in the past year despite a growing concern over the problem in the financial arena The recent industry-wide survey also revealed that around 30 per cent of the countrys banks had not assessed their past NPL-reduction strategies at all while 36 per cent did so only on an ad-hoc basis The findings came out from the survey of the Chief Risk Officers at the banks on issues concerning NPL strategy in their institutions Leading banking research and training institution Bangladesh Institute of Bank Management (BIBM) conducted the study The research findings come at a time when the ballooning NPLs is becoming a major issue with the countrys banking industry and also triggering concerns and criticisms As per the central bank data the volume of NPLs had increased by more than 21 per cent to Tk 62172 billion by the end of 2016 swelling from Tk 51371 billion a year before The findings are genuinely surprising as we are struggling to find a bank for which NPL is not an issue in some capacity said Sazib Azad Senior Advisor of BIBM who led the research initiative Furthermore if the bank itself is immune to the impact of NPL even then they need to consider whether they are immune from structural or market-level impacts as well he told the FE However relevant survey results show the potential lack of such considerations as only 10 per cent of bank CROs taking part in the survey said that their banks are addressing potential dependence on market assessment and strategy What is more surprising is that the NPL strategies of around 62 per cent of the banks are not signed off by the boards the survey found

Daily News Flash 12th November 2017

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This is quite striking because given the severity of the non-performing-loan issue the NPL strategy should be signed off by the boards Mr Azad said adding Boards are not only accountable for the health of the banks but are also in position to release resources to get to grips with the issue In addition the survey result also revealed 31 per cent of the banks not communicating their NPL strategy across the bank NPL as an issue needs to be addressed from ground up But the results show that this is not happening at our banks said an expert who was involved with research Meanwhile 25 per cent of the CROs said they were not tracking the implementation and effectiveness of NPL strategy in their banks- something which according to experts is a cause of concern Given how critical an issue NPL exposure is we would expect every CRO to track how the NPL strategy is being implemented its effectiveness and how to improve matters to the Board Risk Committee and the Board the banking experts said Meanwhile the survey results also found that although 94 per cent of the banks had stress-tested their balance sheet in terms of NPL drag this figure drops to 56 per cent while considering the impact to and from the wider economy market and structural aspects It seems that 33 per cent of the banks do not formally consider this aspect with a further 11 per cent not looking at this dimension at all the researchers said Experts also noted that with Basel 3 farther putting capital under pressure sensible banks should dynamically model the impact of key risks to their capital However the survey results show 17 per cent of the banks are not doing so while 31 per cent doing it in a limited manner Asked whether their banks risk-appetite-statement metrics reflected their NPL strategy 36 per cent of the respondents said they do so in a limited capacity while a further 80 per cent are not doing that at all It was also found that 25 per cent of the C-Suites have specific NPL-strategy-related targets while 31 per cent of the CROs have the same Meanwhile when asked whether they consider their NPL strategy to be embedded just over half of them or 52 per cent of the survey participants said Yes This according to experts is clearly not fit for purpose given the severity of the NPL issue facing the banking sector The first step in looking into the NPL issue is to assess internal capabilities to effectively manage NPLs Next external conditions or operating environment needs to be considered Finally the capital implications of the NPL strategy need to be analyzed said Sajib Azad The findings of the survey will be shared with the stakeholders during the next CRO forum of BIBM expected to take place next month where the issue of Risk Culture will also figure high The biggest reason for the swelling of NPL in our banking sector is a lack of good governance To check the ballooning of NPL the internal governance of the banks has to be strengthened above all Director-General of BIBM Toufic Ahmad Choudhury said Meanwhile the survey also found banks tending to consider time-horizon portfolio segment and exposure-level-based targets to be broadly equally important to their NPL strategy In terms of options preferred for reducing NPL banks consider change of exposure type to be most effective (36 per cent) followed by active portfolio reductions (33 per cent) and hold forbearance (31 pe rcent) Source httptodaythefinancialexpresscombdfirst-pagebanks-lack-remedial-strategy-while-npl-rises-worryingly-1510417700

GOVT SEEKS US$183B UNDER 39TH JAPANESE ODA PACKAGE The government has sought around US$183 billion worth of assistance from Japan for bankrolling six development projects officials said Saturday

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Officials at the Ministry of Finance (MoF) said they have already discussed the issue with the Japan International Cooperation Agency (JICA) We are hopeful of receiving funds under its upcoming 39th Official Development Assistance (ODA) package to finance six development projects a senior MoF official told the FE He said a JICA mission in September-October last completed its visit to Bangladesh to explore the possibilities of financing the proposed projects We are hopeful of signing the 39th ODA package with JICA within a couple of months he said After signing the loan deal the largest bilateral donor will start disbursement of funds from the proposed $183 billion aid package for the six development projects the MoF official added The proposed six projects under the 39th ODA package are Matarbari port development Dhaka MRT line-6 construction (phase-III) Dhaka MRT line -5 feasibility study Matarbari ultra super critical coal-fired power plant (phase-IV) Jamuna Railway Bridge construction and Health service strengthening project A senior official of Economic Relations Division said the proposed 39th ODA package will be very useful for Bangladesh as it will be utilised to develop the Matarbari port ongoing Matarbari power plant project conduct feasibility study and detailed design of the MRT line-5 in Dhaka and to construct railway bridge over the River Jamuna All of these projects are very important for the country to ensure smooth transportation and uninterrupted power supply he added Japan is the largest bilateral development partner of Bangladesh Over last 5-6 years it has enhanced its aid with confirmation of more than US$10 billion worth of funds under each of the aid packages In the last 38th ODA package signed in June 2017 JICA provided Yen 178223 billion ($164 billion) for utilising in six development projects on transport infrastructure power and water sector improvement works In June 2016 Japan signed the 37th ODA deal worth $150 billion (17354 billion Japanese Yen) with Bangladesh and in December 2015 it inked the 36th ODA package confirming $12 billion concessional loan for six development projects Under the last 38th ODA package JICA offered $700 million (Yen 76825 billion) for Hazrat Shahjalal International Airport Expansion project $480 million (Yen 5273 billion) for 2nd Kanchpur Meghna and Gumti bridges construction $50 million (Yen 5593 billion) for Dhaka Mass Rapid Transit development project (Line 1) $100 million (Yen 10745 billion) for Matarbari ultra super critical coal-fired power plant $190 million (Yen 20477 billion) for Dhaka underground substation construction project and $110 million (Yen 11853 billion) loan for small scale water resources development project Japan has so far provided Bangladesh with nearly US$12 billion in assistance since the financial year (FY) 1971-72 Source httptodaythefinancialexpresscombdfirst-pagegovt-seeks-us183b-under-39th-japanese-oda-package-1510417739

SUMMIT GROUP ENTITIES TO ISSUE PREFERENCE SHARES WORTH $1250M A subscription closing ceremony to raise capital through issuance of preference shares worth BDT 1000 million (USD 1250 million) for Summit Barisal Power Limited amp Summit Narayanganj Power Unit II Limited was held recently at Pan Pacific Sonargaon Dhaka said a statement LankaBangla Finance Limited acted as the Mandated Arranger LankaBangla Investments Limited acted as the Issue Manager and The City Bank Limited acted as the Agent Account Bank amp Custodian Bank to raise the fund In the event Mr Lt Gen (Retd) Engr Abdul Wadud Managing Director of Summit Barisal Power Limited amp Summit Narayanganj Power Unit II Limited Mr Khwaja Shahriar Managing Director amp

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CEO of LankaBangla Finance Limited Mr Mohammed Nasir Uddin Chowdhury Managing Director of LankaBangla Capital Market Operations Mr Mominul Islam Managing Director amp CEO of IPDC Finance Limited Mr R Q M Forkan Managing Director amp CEO of Bangladesh Commerce Bank Limited Mr Faruq M Ahmed Additional Managing Director of Trust Bank Limited Mr Akthar Hamid Khan Deputy Managing Director of Pubali Bank Limited Mr Arif Hasan Khan Vice President of Modhumoti Bank Limited Mr Mohammad Ibrahim Khalil FCA Vice President amp CFO of Bank Asia Limited and Mr Mahbub Jamil Vice President and Head of Structured Finance of The City Bank Limited along with other senior officials from the companies were present Source httptodaythefinancialexpresscombdstock-corporatesummit-group-entities-to-issue-preference-shares-worth-1250m-1510411878

BMBA URGES MUHITH TO EXEMPT INVESTMENTS BY MF SPONSORS Bangladesh Merchant Bankers Association (BMBA) has urged the finance minister to exclude some components including sponsors investments in mutual funds (MFs) from the banks exposure to the capital market It made the request for ensuring an environment conducive to gradual development of the capital market according to a proposal submitted to Finance Minister AMA Muhith last week The BMBA said the long-term or strategic investments needed to be excluded while calculating the exposure as these investments were not intended for frequent trading Non-convertible preference shares and non-listed securities also need to be excluded from the capital market exposure as it will never influence the capital market volatility it said in a letter to the minister According to the letter the MFs are passive investments where investors themselves are not involved in investment decision making and such fund portfolios are mostly of long-term nature than frequent trading On the other hand the sponsors of the MFs need to hold 10 per cent of the investment until liquidation of the fund So considering the fact the sponsors portions in MFs need to be excluded from the banks capital exposure said the BMBA proposal As per the Banking Act 1991 it said reporting requirement is on solo basis but the central bank has introduced consolidated calculation which is of dual effectdouble counting in the market exposure This kind of restrictive measure creates panic situation in the market and may hinder the potentials and prospects of the capital market as a whole the BMBA said It also said that this kind of practice needed to be stopped as such requirements and reporting practice would further squeeze the market and that the investors would lose their interest The BMBA said some organisations have invested on strategic purpose and were holding positions in the board and their exposure increased with rising the market price of MF units On the other hand in compliance with the securities rules they are unable to sell shares to reduce exposure the BMBA said terming the situation complicated In its letter the BMBA said that the capital market exposure of some banks and financial institutions increased without fresh investments following the upward trend of the market price as the exposure is calculated on the basis of market price If the banks need to go for selling off their excess exposure this will create unnecessary selling pressure on the market said the BMBA The association requested the finance minister to consider their proposal to facilitate the growth of the capital market by its own strength and prospect Source httptodaythefinancialexpresscombdstock-corporatebmba-urges-muhith-to-exempt-investments-by-mf-sponsors-1510411950

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ATIUR STRESSES ROLE OF REGULATORS IN DIGITAL FINANCIAL INCLUSION Former Bangladesh Bank Governor Dr Atiur Rahman chairs a session at the 5th Biennial Competition Regulation and Development Conference at Jaipur in India on Thursday Success of digital financial inclusion depends on the prudent role of the regulating bodies to a great extent And the recent progress in Bangladesh in this regard is a good example for the rest of the world to follow said Dr Atiur Rahman former governor of Bangladesh Bank says a statement He was chairing a session at the 5th Biennial Competition Regulation and Development Conference at Jaipur India on Thursday The three-day conference is being hosted by CUTS International and OECD Speakers of the session included Ravinder S Aurora Senior Vice President of Mastercard David Ongolo Kenyan Competition Authority and Dr A K EnamulHaque Professor of East West University Dhaka Many developing countries survived and even thrived during the last global financial crisis because they chose to follow a broad-based financial inclusion strategy And digital solutions played a crucial role in this financial inclusion drive said Dr Rahman He added that service providers must focus on reaching out to the customers in the rural socio-economic conditions Dr Rahman said that experience from Bangladesh can answer many of the burning questions regarding digital financial inclusion The central bank of the country has facilitated bank-led digitisation drive Be it Mobile Financial Service or be it Agent Banking the Bangladesh Bank has encouraged traditional players (ie the commercial banks) to lead the way And it has been proven to be very successful He also said that the world is witnessing only the beginning of the digital finance revolution Hence we must learn from all these experiments share our experiences and know-hows Only then we can work towards shaping global standards and practices Dr Rahman finally asked all central banks to be more proactive and collaborative with other stakeholders including non-traditional financial service providers to facilitate orderly development of digital financial inclusion so that consumers interests are better protected The grievance redressal mechanism developed in Bangladesh Bank with infusion of state of the art technology to gain trust of the customers in financial inclusion was also discussed widely in the session The panelists highly appreciated Bangladeshs regulatory move with public interest in mind using latest technology for replicable digital financial inclusion Source httptodaythefinancialexpresscombdtrade-marketatiur-stresses-role-of-regulators-in-digital-financial-inclusion-1510416319

FAO FEARS NEGATIVE BD FOOD OUTPUT GROWTH ON FLOODING Recent flooding has dampened the outlook for Bangladesh a likely third successive season of little or negative food production growth mainly rice reports UNB quoting FAO Barring major setbacks production recoveries could instead permit Bangladesh and Sri Lanka to slightly lower their 2018 imports to 11 million and 450 000 tonnes respectively according to the latest Food Outlook published by the UN Food and Agriculture Organisation (FAO) Among other rice importers Bangladesh Iraq Nigeria and the Philippines are all similarly predicted to replenish their inventories according to the report a copy of which obtained by the news agency These gains are however likely to be offset by stock reductions in the Republic of Korea Madagascar Sri Lanka and the United Republic of Tanzania all linked to output shortfalls Although the use of rice as animal feed is being sustained by the release of supplies from government granaries in Japan the Republic of Korea and Thailand more affordable feedstuffs are expected to displace rice in most other countries especially in Bangladesh China (Mainland) and Vietnam

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Since the previous Food Outlook report a series of unfavourable climate-related events have affected main paddy crops in the Northern Hemisphere which have now reached the harvesting stage This has been the case in Asia where unlike 2016 the critical Northern Hemisphere summer months were characterised by mixed growing conditions that inhibited planting expansions As a result FAOs latest forecast of world rice production in 2017 points to a broadly stable output level of 5008 million tonnes Production in Asia is now forecast to fall 550 000 tonnes below the 2016 bumper harvest to 4525 million tonnes The UN agriculture agency has said the cost of importing food is rising in 2017 driven by increased international demand for most food stuffs as well as higher freight charges The cost of importing food is forecast to rise six per cent in 2017 to $1413 trillion making it the second highest bill on record while food commodity prices have been generally stable according to the latest Food Outlook that expressed concern about the economic and social impact of this trend on poor countries Although weather disruptions are set to stall production growth this season global rice supplies are still forecast to exceed utilisation enabling a small expansion of world rice inventories Global trade is expected to rise only modestly in 2018 after staging an 8 per cent recovery in 2017 The food import bills are set to increase by double-digit rates for least-developed countries (LDCs) and low-income food-deficit countries Aromatic rice varieties have risen eight times faster than the FAO All Rice Index which is up four per cent on the year However the higher import costs come at a time when inventories are robust harvest forecasts are strong and food commodity markets remain well supplied The export of tropical fruits is promising for poverty relief and rural development as almost all production takes place in developing countries The export volumes of mango pineapple avocado and papayas are on course to achieve a total combined value of $10 billion this year according to the Food Outlook Source httptodaythefinancialexpresscombdfirst-pagefao-fears-negative-bd-food-output-growth-on-flooding-1510336161date=11-11-2017

STOCKS NUDGE HIGHER AS BANK TELECOM ISSUES SURGE Stocks extended the winning streak for the two consecutive weeks that ended Thursday as enthusiastic investors continued their buying appetite on bank and telecommunication issues Market operators said the positive momentum in some large-cap issues especially from banking telecom pharmaceuticals and food amp allied sectors helped the bourse to stay upbeat The banking sector posted the highest return of 445 per cent as 27 out of 30 listed banks ticked higher Four banks gained more than 10 per cent each The telecom sector also surged 342 per cent as Grameenphone the countrys largest market-cap listed companys shares price jumped 40 per cent to close at Tk 45690 each The market extended the winning streak riding on heavyweight bank and telecom issues said an analyst at a leading brokerage firm The week featured five trading sessions as usual Of them first session saw marginal correction while last four closed higher Week-on-week DSEX the prime index of the Dhaka Stock Exchange (DSE) jacked up by 9454 points or 155 per cent to finish at 6193 The two other indices -- the DS30 index and the DSE Shariah Index (DSES) - also closed higher at 2244 and 1341 points

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Both the indices added 4264 points and 1218 points respectively During the week banking pharmaceuticals and telecommunication sector stocks contributed more to keep the market up commented City Bank Capital Resources a merchant bank in its weekly analysis The port city bourse Chittagong Stock Exchange (CSE) also ended higher The CSCX advanced 180 points or 156 per cent to finish at 11618 International Leasing Securities a stockbroker noted that the market observed an upbeat vibe throughout the week riding on the news of soaring of net foreign investment in the capital market in the first 10 months of 2017 compared to the same period of last year Net position of foreign portfolio with the DSE stood at Tk 1623 billion in January-October compared to Tk 80 billion in the same period a year ago However some investors were reshuffling their portfolios after observing the year-end corporate declarations and first quarter earning disclosures the stockbroker added According to EBL Securities The market witnessed an upbeat tune throughout the week riding on regained confidence among the market participants The stockbroker noted that preferable year-end and quarter-end earnings declarations by several companies helped them to remain positive about market The total turnover for the week amounted to Tk 3591 billion on the DSE which was Tk 3027 billion in the week before The daily turnover averaged Tk 718 billion which was nearly 19 per cent higher than the previous weeks average of Tk 605 billion Block trade accounted for 16 per cent of the total weekly turnover where stocks like BATBC Beximco Pharma Shahjalal Islami Bank Square Pharma and Singer Bangladesh dominated the block trade board Banking sector kept its dominance over the turnover chart grabbing 35 per cent of the weeks total transaction followed by engineering with 18 per cent and pharmaceuticals 11 per cent Out of 336 issues traded 207 closed lower 116 ended higher and 13 issues remained unchanged on the DSE trading floor during the week The market capitalisation of the DSE rose 137 per cent as it was Tk 4123 billion on the opening day of the week and it stood at Tk 4179 billion on closing day of the week City Bank topped the weeks turnover chart with 5390 million shares worth Tk 184 billion changing hands followed by IFAD Autos with Tk 121 billion Brac Bank Tk 10 billion LankaBangla Finance Tk 994 million and Dhaka Bank Tk 926 million Reckitt Benckiser was the weeks best performer posting a gain of 1925 per cent while Stylecraft was the weeks worst loser slumping by 3322 per cent A new issue - Oimex Electrode-- made debut last week and soared 1042 per cent from its offer price of Tk 10 in the first trading day on Monday Source httptodaythefinancialexpresscombdstock-corporatestocks-nudge-higher-as-bank-telecom-issues-surge-1510332934date=11-11-2017

BANGLADESH GROWING AS DENIM HUB The growing global demand for fashionable denim wear encouraged both local and foreign entrepreneurs to make fresh investment in Bangladesh participants and organisers of Bangladesh Denim Expo have said Many of the 30 local denim mills are going for expansion while a couple more will come into operation with fresh investment within next two or three years they said Some foreign companies are opening offices or setting up factories in Bangladesh they added The seventh edition of the two-day Bangladesh Denim Expo was held in the city recently with the theme transparency to highlight the need for transparency in the entire denim supply chain

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A total of 65 exhibitors from 12 countries participated in the show while more than 12 thousand visitors from across the world registered online to attend the two-day expo organisers said Talking to the FE on the sidelines of the expo Md Khalid Mosharof assistant general manager at Dekko Group said the group invested Tk 15 million in setting up a new factory of 44 lines at Ashulia that would go for denim item production in June next The main reason is to tap the growing global demand he said Echoing him Syeed Ahmed Chowdhury general manager operation at Square Denim said the company expanded its denim fabric production capacity to 30 million yards from the existing 15 million yards per month mainly to meet the demand He however opined that the expansion is taking place more in garment segments than in fabric production There is no alternative to expansion to sustain the existing business and achieve the $50 billion garment export earnings target by 2021 Sharif Zahir managing director of Ananta Group said stressing the need for positive branding of the sector Meanwhile Landes a German denim accessories maker started production in its new factory at Savar from this month It invested US $05 million We opened the factory in Bangladesh as we think this is the hub for denim business and there is a lot of business prospects here Manfred Slowik chief operating officer of Landes told the FE at his stall at the expo By the end of next year the total workforce in our new plant will be 120 people as we are recruiting new people from existing 30 Mr Slowik said Landes has a target to produce 500 million pieces of leather patches used in denim trousers as accessories in a year at its Savar plant from where such accessories will be supplied to the whole Asian region Many big brands like HampM VF and Walmart are their customers he said Nezahat Boni senior account manager of Orta a Turkish denim maker said her company supplies 30 million metres of denim fabrics in Bangladesh in a year against only 800 meters in 2011 We opened an office in Bangladesh in 2011 as we cannot ignore the importance of this country as a denim hub she said Prosperity Textile a Chinese company opened its office in Dhaka last year said Md Mujibul Hoque the companys Bangladesh Sales Director The company has targeted sale of 100 million yards a year across the globe while it also targets 30-40 per cent of their sales in Bangladesh Bangladesh is now the top denim products supplier to the European Union overtaking China and third largest to the US after China and Mexico industry people said Bangladesh supplies denim products to major global buyers and retailers including levis G-Star Raw HampM Tesco Wrangler Hugo Boss Walmart and Gap Source httptodaythefinancialexpresscombdtrade-marketbangladesh-growing-as-denim-hub-1510332061date=11-11-2017

EXPORTS UP 70PC IN JULY-OCTOBER Countrys export earnings grew by 703 per cent to US$1150 billion during first four months of the current fiscal year (FY 2017-18) according to official data released Thursday The earnings were $1079 billion in the same period (July-October) last FY In October 2017 the exports grew by 642 per cent to $284 billion the Export Promotion Bureau (EPB) data showed The overall exports in the first four months slightly (074 per cent) fell short of the periods target In October however the exports were 628 per cent higher than the months strategic target Readymade garment shipments fetched $943 billion marking 699 per cent growth during the period as compared to $882 billion in the same period of last FY

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The woven items registered 385 per cent growth in earnings to $445 billion than that of $428 billion in the same period of FY 2016-17 The earnings from knitwear export during the period grew by 995 per cent to $498 billion from $453 billion in the corresponding period of last FY Jute and jute goods exports rose by 1646 per cent to $34501 million from $29626 million in the same period of FY17 The earnings from agriculture products grew by 2022 per cent during the period while home textiles by 2037 per cent The earnings from leather and leather products however fell marginally by 002 per cent to $42844 million during the period than that of $42851 million in the same period last FY The export earnings from frozen food and live fish grew by 1541 per cent to $22691 million from $19661 million of the corresponding period of last fiscal Mahmud Hasan Khan vice president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) said the exports in the first four months of the current fiscal year fell short of the expected growth mainly because of failure in maintaining the lead time and short supply of gas and electricity Terming the knitwears growth satisfactory he said woven items manufacturers have been struggling to cope with the new challenge as buyers were reducing the volume of orders due to failure in meeting the lead time Without efficient port and strong backward linkage industry especially for the woven sub-sector it will be difficult for the sub-sector to bounce back he feared He pointed out that maximum of the woven fabric requirements were being met through imports But it was taking too much time to clear the imported fabrics and additional charges as a result at the Chittagong seaport that was facing unbearable congestion The government should provide necessary policy support to the exporters to establish strong backward linkage industry for the woven sub-sector he added Source httptodaythefinancialexpresscombdfirst-pageexports-up-70pc-in-july-october-1510248870date=10-11-2017

GAS CRISIS HURTING OUTPUT IN INDUSTRIAL BELT Factories in the countrys Tongi-Gazipur industrial belt have been facing acute gas crisis over the past few months following diversion of gas to upstream power plants The crisis has deteriorated further this week albeit some improvements for a few days last week said local industrialists and businessmen According to them if the ongoing gas crisis persists they may be forced to shut down their factories Officials of the Titas Gas Transmission and Distribution Company Limited (TGTDCL) however blamed the Petrobangla for the gas crunch Sources concerned say the industrial belt of Tongi-Gazipur is suffering badly for about four to five months from low pressure of gas coupled with poor electricity voltage -- often resulting in huge volume of industrial wastages and reduction of production efficiency According to the industry insiders a factory in the industrial belt requires 04 PSI (production per square inch) as optimum gas pressure but the pressure at times comes down to as low as 01 PSI these days -- especially during the daytime Gas pressure in the area becomes normal around 10pm11pm and stays for not more than 08 hours until 6am7am an entrepreneur of the industrial belt informed Asked an official of Titas said they are at present getting nearly 250 million cubic meters (MCM) less in recent weeks against their current demand of 1800 MCM gas in Titas franchise The downstream Titas franchise area covers greater Dhaka region which includes Gazipur alongside some other adjoining districts and greater Mymensingh he said

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A Petrobangla source however cited gas supply on priority basis to a number of upstream projects including power plants as reason behind supply shortage When asked Managing Director of Akij Group Sk Bashir Uddin termed the situation really worrisome According to him two of Akij Group companies situated in the area -- Akij Printing amp Packages Limited and Dhaka Tobacco Industries -- jointly contributed nearly Tk 35 billion (3500 crore) to the national exchequer in the 2016-17 fiscal year But were very much worried about our industrial output this year as production disruption following the twin crises involving gas supply and power supply Both will eventually disrupt our retail business in every phase he quipped This often results in a high rate of industrial wastage and reduction of production efficiency he added Bangladesh Auto Re-rolling Steel Mills amp Association Chairman Manwar Hossain who is also Anwar Group Managing Director echoed the same concern Factories in the industrial belt are now operating at one-third of their capacity which may lead to labour unrest and default of huge sum of bank loans he said Such disruption of production he cautions may even cause sudden shutdown of factories According to him none of the victims in that case will be the wilful defaulters -- they will be the victims of circumstances The businessman who has a steel factory called Anwar Ispat Limited in the industrial belt called for immediate introduction of ECM (electronically controlled meters) to check unabated gas engineering in the area which he deems to be yet another reason for gas supply crunch Titas officials according to him are encouraging co-generation scheme to help address the severe gas crisis But he said co-generation will require stable and smooth gas supply Government should ensure at least 10-15 years of smooth gas supply to encourage co-generation as what he said any industrial investment requires 20 years of payback period TGTDCL Deputy Managing Director Engineer Abdul Wahab Talukdar who is also the Project Director of Sripur-Joydevpur Transmission Pipeline Project said We cannot do anything to address the crisis if there is a lack of adequate gas supply Mentioning that all factories in the industrial belt are like my babies he unequivocally said Titas is not at fault He also admitted that priority-based power plants gas supply being the reason behind the current spell of gas crunch We have already started introducing electronic volumetric corrector (EVC) to stop illegal gas use in the area he said Factories he added should go for co-generation scheme for protecting their own interest Co-generation means utilising and absorbing heat generated from gas generators which Mr Wahab said will save energy A section of the businessmen however called for stopping fertiliser production and distributing the same among people at a subsidised price after importing it to facilitate smooth supply of gas to other industries Even if the government stops fertiliser production and opts for importing it for distribution at a subsidised rate there will only be an insignificant loss compared to the overall losses now being incurred said an industrialist who has more than one factory in the industrial belt Local sources said illegal and unapproved gas connections in various industries in and around the zone are also affecting gas supply badly among other reasons Source httptodaythefinancialexpresscombdfirst-pagegas-crisis-hurting-output-in-industrial-belt-1510249018date=10-11-2017

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SINGLE PERSON MAY FORM COMPANY A single person may form a commercial firm under a provision of the companies law being updated along with some other major business-stimulating measures Official sources said the government is considering incorporating some new provisions including one allowing individuals to form any company into the updated Companies Act The other provisions are formation of an appellate tribunal to resolve legal matters without wasting much time widespread automation of companies work and submission of annual company reports online Earlier the Ministry of Commerce (MoC) had received some recommendations from the stakeholders on how to update the law they added We got most of the recommendations from the stakeholders We hope we will be able to prepare the draft Companies Act within a month Md Obaidul Azam director trade organisations (DTO) told the FE He said the recommendations the ministry had received so far were being scrutinised before preparing a draft for updating the companies act Earlier different trade bodies had sent their respective recommendations to the MoC for incorporation into the law The MoC will hold a meeting with the countrys apex trade body after assessing the recommendations and suggestions the ministry official said Talking to the FE a leader of an influential trade body said they had sent some recommendationssuggestions to the MoC for the new Companies Act for betterment of the countrys trade and business According to Section 2 (1) (c) of the Companies Act 1994 Company means a company formed and registered under this Act or an existing company Thus a company is an association of persons formed under the Companies Act 1994 with a view to achieving some common objectives Though a company is regarded a legal person it possesses similar rights and owes similar obligations like a natural person Now any individual fulfilling the new criteria may be allowed to form a firm Source httptodaythefinancialexpresscombdfirst-pagesingle-person-may-form-company-1510249090date=10-11-2017

DSE TURNOVER CROSSES TK 80 BILLION MARK The daily turnover on Dhaka Stock Exchange (DSE) exceeded the Tk 80 billion mark on Thursday as investors took fresh exposure to the banking sector Turnover a crucial indicator of the market reached Tk 870 billion on the countrys premier bourse jumping 14 per cent from the previous days transaction of Tk 765 billion It was the biggest single-day transaction since October 11 when the turnover totalled a record Tk 1092 billion Along with rising turnover DSEX the prime index of the Dhaka bourse continued to keep its gaining momentum closing 3449 points higher at 6193 points DSEX which replaced the DGEN in nearly five years back added more than 121 points or 20 per cent in the past four consecutive sessions The two other indices -- the DS30 index and the DSE Shariah Index (DSES) -- also followed suit to end at 2244 and 1341 points after gaining 1422 points and 443 points respectively Brokers said the market maintained the bullish trend for the four straight sessions as the enthusiastic investors chased the banking sector stocks The market continued the bullish trend for the four consecutive sessions as the enthusiastic investors were active for the banking food and engineering sector stocks commented EBL Securities a stockbroker in its regular market analysis

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It noted that the core index remained positive throughout the session as optimistic investors kept buying sector-wise stocks while some rebalanced their portfolios Meanwhile share price of newly listed Oimex Electrode continued to decline for the three consecutive sessions after unusual hike during its debut trading on Monday The companys share price fell 763 per cent to close at Tk 9810 on Thursday after jumping more than tenfold during the debut trading which experts termed unusual Block trade contributed Tk 241 million to the days total turnover with stocks like BATBC Square Pharmaceuticals Singer Bangladesh and Beximco Pharma dominating the block trade board Among the major sectors pharmaceuticals posted the highest gain of 122 per cent followed by banking sector (083 per cent) food amp allied (067 per cent) engineering (033 per cent) financial institutions (003 per cent) and power (003 per cent) Only telecommunication sector faced a 045 per cent correction A total number of 0140 million trades were executed in the days trading session with trading volume totalling 23171 million securities The total market capitalisation of the DSE stood at Tk 4179 billion against Tk 4168 billion in the previous session Losers however took a modest lead over the gainers as out of 325 issues traded 140 closed lower 130 closed higher and 55 remained unchanged on the DSE trading floor City Bank dominated the turnover chart for the second day in a row with 1035 million shares changing hands closely followed by Dhaka Bank LankaBangla Finance Brac Bank and Keya Cosmetics Reckitt Benckiser was also the days best performer posting a gain of 624 per cent while Qasem Drycells was the days biggest loser shedding 1235 per cent The port city bourse Chittagong Stock Exchange (CSE) also ended higher with its Selective Categories Index -- CSCX --gaining more than 62 points to close at 11618 Losers beat gainers as 113 issues closed lower 97 closed higher and 37 remained unchanged on the CSE The port city bourse traded 1604 million shares and mutual fund units generating a turnover of Tk 483 million Source httptodaythefinancialexpresscombdstock-corporatedse-turnover-crosses-tk-80-billion-mark-1510245247date=10-11-2017

TEN COS GRAB 32PC TURNOVER ON DSE The banking sector continued to dominate the transaction chart of the Dhaka Stock Exchange (DSE) accounting for 39 per cent of the total turnover on Thursday Four banks made their way to the top 10 turnover chart with City Bank leading the chart for the second day in a row Brokers said the investors chased the banking sector issues as more than 63 per cent of listed banks showed positive earnings in the third quarter (July-September period) Meanwhile top 10 traded companies including four banks grabbed more than 32 per cent of turnover on the Dhaka bourse The total turnover on the premier bourse reached Tk 870 billion up 14 per cent from the previous days Tk 765 billion The most active shares in terms of value included City Bank Dhaka Bank LankaBangla Finance Brac Bank Keya Cosmetics Square Pharmaceuticals Beximco Pharmaceuticals IFAD Autos Exim Bank and IDLC Finance According to statistics available with the DSE about 1035 million shares of City Bank were traded generating a turnover of Tk 553 million or 635 per cent of the total transactions

Daily News Flash 12th November 2017

34

The companys share price hovered between Tk 5240 and Tk 5440 before closing at Tk 5390 advancing 228 per cent over the previous session Dhaka Bank came in next with shares of Tk 395 million changing hands contributing 454 per cent to the total turnover The banks share price closed 347 per cent higher at Tk 2380 LankaBangla notched the third spot with shares of Tk 266 million changing hands making up 305 per cent of the total turnover Its share price ended 063 per cent higher at Tk 6430 Brac Bank emerged the fourth with shares of Tk 257 million changing hands grabbing 295 per cent of the total turnover The banks share price settled 123 per cent higher at Tk 107 Keya Cosmetics featured a turnover of Tk 247 million or 284 per cent of the total turnover Its share price closed 201 per cent higher at Tk 1520 The turnover of Square Pharma was Tk 241 million or 276 per cent of the total transaction Its share price ended 612 per cent down at Tk 27890 Beximco Pharma featured a turnover of Tk 211 million or 242 per cent of the total turnover Its share price advanced 428 per cent to close at Tk 10960 The turnover of IFAD was Tk 208 million accounting for 238 per cent of the total turnover Its share price closed at Tk 14070 gaining 195 per cent Exim Bank featured a turnover of Tk 196 million or 225 per cent of the total transaction The banks share price inched up 055 per cent to close at Tk 1830 IDLC also made its way to the top ten turnover chart with shares of Tk 188 million changing hands Its share price closed 223 per cent higher at Tk 9150 Source httptodaythefinancialexpresscombdstock-corporateten-cos-grab-32pc-turnover-on-dse-1510245290date=10-11-2017

FOREIGN INVESTMENT HIKE INFO DRIVES MODERATE GAINS ON DSE The Dhaka bourse Thursday closed the session posting a moderate rise in the broad index and turnover amid mixed performance displayed by major sectors On the day most of the major sectors declined but the turnover crossed Tk 80 billion-mark after two sessions on Dhaka Stock Exchange (DSE) mainly because of investors increased participation in the banking sector According to a market review of International Leasing Securities positive momentum in some big-cap stocks especially from bank food and engineering sectors helped the bourse to close in green The market started the session with a positive note and the DSE broad index DSEX witnessed little ups and downs before closing higher According to AT Capital Partners the market remained sideways till the midsession The DSEX rose again in the second half of the session and closed at 61936 up by 345 points The shariah based index DSES and blue chip index DS30 also rose marginally The turnover stood at above Tk 870 billion which was 1370 per cent higher than the turnover of the previous session The confident drive was initiated by the investors buying spree riding on the news of doubling net foreign investment in stocks year-on-year in the first ten months of 2017 said the International Leasing SecuritiesAmong the gaining sectors bank advanced 08 per cent and engineering 03 per cent Of the losing sectors pharmaceuticals amp chemicals declined 11 per cent telecommunication 05 per cent and textiles 09 per cent The banking sector grabbed 384 per cent of the market turnover at the premier bourse DSECity Bank topped the turnover chart with a value of Tk 553 million followed by Dhaka Bank LankaBangla Finance BRAC Bank and Keya CosmeticsReckitt Benckiser (Bd) limited topped the gainers chart with a rise of 624 per cent to close at Tk 18456 while Quasem Drycells was the worst loser after declining 1235 per cent to close at Tk 8230 Source httptodaythefinancialexpresscombdstock-corporateforeign-investment-hike-info-drives-moderate-gains-on-dse-1510245365date=10-11-2017

Daily News Flash 12th November 2017

35

MORE JAPANESE COMPANIES SEEK TO INVEST IN BANGLADESH Japanese Ambassador to Bangladesh Hiroyasu Izumi has said the Japanese investors are keen to invest in Bangladesh considering the lucrative offer and ideal atmosphere for foreign investment reports BSS The Japanese investors expressed more interest to invest in Bangladesh at recently-held the third round of Public-Private Economic Dialogue between Bangladesh and Japan he said while visiting the Chittagong Export Processing Zone (CEPZ) on Thursday The envoy expressed the hopes that Japanese investment in the Export Processing Zones (EPZs) will increase after the successful dialogue said a press release More and more Japanese companies will come to invest in this country he added General Manager of CEPZ Khorshid Alam maed a PowerPoint presentation highlighting the overall scenario of EPZ as well as Bangladesh Export Processing Zone Authority (BEPZA) Mentioning Bangladesh EPZs as the Bonanza for Investors he said investors from 38 countries have set up industries in the EPZs and invested US $442 billion He informed the ambassador that BEPZA has ensured three layer security system including 24-hour CCTV surveillance in the key points of EPZ and factory premises for the safety of the investors Source httptodaythefinancialexpresscombdtrade-marketmore-japanese-companies-seek-to-invest-in-bangladesh-1510250285date=10-11-2017

Source httpwwwarthosuchakcomarchives388209

১৬০

১১৫ ৪ ৫ ১০ ২০

৩০ ( )

( )

৩০ ২০১৭ ১৫

৩ ও ১২

২ ১৪ ( ) ৩৪

২৪

Source httpwwwarthosuchakcomarchives388257

Daily News Flash 12th November 2017

36

৫৩ ( ) ১৫ ও ২

১ ১ ৪৩ ২১০ ৫৩ ৪৪

৩২ ৫০

৮ ৫৮

২০

১ ২৪

৯ ২৭ ৫৫৫ ৯ ৩৮

-

Source httpwwwarthosuchakcomarchives388125

৩৫ ( ) ৩৫

২৪৫ ৩

১৭ ১১৯ ২১

ও - ১১

৯ ৬ - ৫ ৪

- ও ২

ও ১

Source httpwwwarthosuchakcomarchives388085

- ফ ৪০ ও - ৪০

৬ ( ) ৫ ৯ ৫ ৪৯২ ১১

৫৬ ৪৫১ ২৯

১২ ( ও)

( )

-

- ১০

( ও) ৮০

৪৯ ৩৭ ৯৮

ও ১৭ ১২ ঋ ও

১০ ও ৩ ১০

৩০ ২০১৬ ৩৫ ৬৩

৫ ( ) ৩ ৪৯

Daily News Flash 12th November 2017

37

Source httpwwwarthosuchakcomarchives387762

lsquo rsquo

( )

lsquo - rsquo

( ) ও

২০০২ ( ২ )

৫৪৬

ও ১৫

ও ১৫ ৭৫ ও

১০-১২ ১

১৫৫ ৬৭

ও ২০১০

ও ও ও -

ঋ ঋ

১৫ ৪ ৩

২ ২ ৪ ১৫ ৬

( )

Source httpwwwarthosuchakcomarchives388276

- ও ও

Daily News Flash 12th November 2017

38

৩৮ ও ৪৩

১০০ ৬১ ৫৮ ২২৫ ১ ০৫

Source httpwwwarthosuchakcomarchives387849

- ও ( -২)

৬ ও

ও ৫ ৩০০

ও ও

৭ ২০০

( ও )

ও ও

ও ও

২ - ও mdashlsquo

rsquo ও

-

৫ ৩০০

- ১০ - ৪২৯ -

৩২৮

- ১০

( )

২০১৪

( ও) ও ( )

( )

২ ও ও

ও ও ও

ও ২০১১- ও

ও ( )

Daily News Flash 12th November 2017

39

(১০ ) ৫ ৭৬৩

৬৩ ও

ও ( )

- ২০১৪ ও

ও ও

Source httpwwwprothom-alocomeconomyarticle1362971

ও ও

ও - ও

২০১৬-১৭ ২০ ও

ও ও lsquo rsquo

ও ১০ ও

৭৭ ২০১৭

১৬ ২৭ ও

২০১৬-২০১৭ ২০ lsquo rsquo

ও-

ও ও ও

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564382

ফ ( ও) ১১

ও ও

ও lsquo১১ ও rsquo

১০ ১৩

( ) ( )

Daily News Flash 12th November 2017

40

- ও

-

( )

( )

lsquo ও

rsquo ও

২৬ ১০

১৬

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564383

১ ৫০

ও ২০৫০

২৩

১৬ ৫৯ ২০১১

২০৩০

( )

ঋ ও ও

৬৮ ৬৭

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564384

ফ lsquo

ও ও

( ) ও

- ও

( ও ) ( )

Daily News Flash 12th November 2017

41

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564388

৪৫ ও

৮৪ ৮৩

৯২০

২৭ ২৪ ৭ ৩

৬ ৮৯

৯ ১ ৭২ ১৪ ৪৮

৪৫

ও ১৭ ৫০

১৯৩ ১০ ২০১৫-১৬ ৪১৩ ১০ ও ও

২০১৪-১৫ ৩৭৫ ৮০ ৩৫ ৭০

২০১৩-১৪ ৫১৫ ও

৮১ ২ ৫১ ৩ ২০

২ ও

৮৪

৮১

- ও

৮৩

৮২ ৯৫

ও ও - ও

ও ও ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17112200 - - - -

ও ৫০

ও ( ) ( )

ও ও

Daily News Flash 12th November 2017

42

ও ও

১০০

৮ ও

৩০০ ( )

ও ১৫০

২০০ ১০০

২০০

২৭ ৭

ও ও

ও ৩০ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111811 - - - -

-

২৭ ১১

১০

( ) ২৮৪

৬ ২৮ ৭ ১৫১

৭৪

ও - ও

ও - ও

ও ৩

৭ ১ ২৩

৯৪৪ ৮৮২ ১০

ও ৪ ৭ ও

৪ ৩৮ ও ১৫ ৪১ ২২ ৭০

২০ ৩৬ ১৩ ও

৪৬ ২২ ২০ ও

১৭ ৩৭১ ও ও

১৭ ও ৪৩ ও

Daily News Flash 12th November 2017

43

৬ ২০ ও ১৬

৩৫ ২০ ২৭

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111810 - - - - -

ও ও

১৩০ ও ১৪০

৫৫ ও ৯৭ ১১৩

৩৭

৩৪

৬১৯৩ ৬২ ১১৬১৭

৩০ ১৯

ও ও

ও - ও

৪৮ ৩১

১২ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111808 - - - - -

৩৫ ও ১০

ও ( ) ও

১০

ও ও -

২ ৩০০

২০১৪ ও

ও ৭ ২০১৪ ও ২০১৫

৫ ৭ ও ১২ ৮ ২৩

২০১৩ ১ ৪২০ ২০১৪ ১০ ৫ ১ ৫৭০

১৩ ৪ ও ১ ৩৫৮ ১০

২০১৬ ও ৩ ৫ ১ ৩১০ ২০১৪

২০১৬ mdash ২ ১ ঋ

১০ ও ২০১৩

২৯ ৮০ ২০১৪ ৫ ৭ ৩১ ৫০ ২০১৫

১২ ৩৫ ৩০ ২০১৬ ৭ ৩৭ ৮০

Daily News Flash 12th November 2017

44

২০১৪ ২০১৬

৩২ ৩৫ ও ৫০ ১৯

৫৬

১৭ ৪৬ ২০১৪ ২০১৬

৭২ ১০০ ও ১১১

২০১৪ ২০১৬ ১৫ ৬৩

৯১ ১১৪ ও ১১৮ ৮ ২৩

৮০ ৯০ ও

ও -

ও -

ও ও ও

১০ ও

১০ ও ২২

৭১ ১২ ৪২

৩২ ২৬ ও

ও ও

( ) ও

ও ২০২১ ও ও

৫ ১ ১৬

ও ও

Source httpbonikbartanetbanglanews2017-11-12137992 - - -- -

৫০০ ৫০০ ও

ও ৩০ ২০১৭

৫০০ ও ঋ ২০১৮

৩০

১ ২০ ও ১৫০

১১

Daily News Flash 12th November 2017

45

৩০০ ৬০০

( ) ও

১ ২৫ ও ১০

১০ ও

ঋ ও

৩০ ২০১৭ ৩ ও ১২ ও

( ) ২ ১৪ ২ ১

ও ৩০ ১১

( ) ও ও

( - ) ৬৬ ৫৫ ৩০

( ) ৩৪ ৯০

ও ও ও

( ) ও

ও ও ২০১৫ ৩০ ১০ ২০১৬

১২

( ) ৪১ ২০ ও ২৩ ৬০

৫০ ও

২০১৪ ৩০০ ও ১৪৮ ৪৬ ৫০

১৯১ ৬২ ৩৭ ৩১

১২ ৪৫ ৫০ ২৪

ও ( ) ১৬ ৫৩

ও ১৫ ২২

Source httpbonikbartanetbanglanews2017-11-12137966৫০০- - - - -ও -

৬৩

- ও ও

৬২ ৯৪ ৫

৬২

৯০

২০১৪ - -

- ও

২০১৬-১৭ ৫ ৬২ ও ২০১৩-১৪

১২

( ) ৯০

-

ও - - ও -

Daily News Flash 12th November 2017

46

- ও

৬২ ৯৪

২০১৩-১৪ ৭০ ৭৮ ২০১৪-১৫ ৫৪ ২২

২০১৫-১৬ ৩৯ ৩৩ ও ২৬ ২৩

ও ২০১৩-১৪

১২ ৩৬ ২০১৪-১৫ ৫ ৯১ ও ২০১৫-

১৬ ১৭ ৩০ ৫ ৬২

৩০ ২০১৭ ১০

২ ৮৬ ও ৩

ও ২৪ ( )

২৭

১৯৬৪ ১২

৪ ও ও ১৯৭২

ও ( )

ও ৩৪ ৮ ও

৯০

৪৫ ও ৫

১৯৬৪ ১৯৭২ ১৯৮৯

১০০ ও ২৬ ১৬ ২০ ৫৪৩ ৭৭

৫ - ৫১ ১৫ ৬০ ও

৩২ ৯০

Source httpbonikbartanetbanglanews2017-11-11137853 - - - - - -৬৩---

( ) ও

১০

ও ও ও

-

ও ও

ও ঋ ও

ও ২০১৪ ও

ও ও

২০১৩

( ) ও

Daily News Flash 12th November 2017

47

২০১৪

২০১৪-১৬ ও

২০১৪

ও ২০১৪

২০১৫ ২৭ lsquo ও rsquo

ও ও

২০১৬ ২৪

( )

ও ও

- ও

ও ও ১৯৮৩ ২০১৬

ঋ ( ) ৫৬০

৮৬৪

২০১৬ ২০১৯ ও

ও ১৫ ২৫ ৩০ ও ৩০

ও ঋ ও

২০১৬ ঋ ১

৩৪২ ঋ ৬ ৫২ ১২৩

ঋ ২ ৪৪৩ ঋ ১০

৮৪ ঋ ৪০

৭২৬

ও ২০১৬ ৭৪১

৪৫৭

২০৭ ২৪৪

১০ ও

ও ও ও ও ও

Daily News Flash 12th November 2017

48

Source httpbonikbartanetbanglanews2017-11-12137998 - - - - - ও- -

( )

৩০ ২০১৭ ২০

( ) ২ ১ ১ ৫৯ (

) ৩০ ( ) ১৫ ৩৭

ও ২৮ ১১

( ) ২৮

২০১৬ ৩০ ১৮ ২০

২০১৪ ও ২০

১৫ ৩০

১৮ ৮০ ও ৯ ৬০

Source httpbonikbartanetbanglanews2017-11-11137850 - - - -

ফ ৭ ২০১৭-১৮ ৭ ৩ ৭৪

( ) ও

( - ) ১ ১৫০ ৫৮

(২০১৬-১৭) ১ ৭৫ ৩ ৬০ ৭

৩ ১ ১৫৯ ২০ ৭৪

ও mdash

৬ ৬৫ ১৭ ৬৩

mdash ও ও

১৫ ৪১ ২২ ৬৯ ১০

১৯ ৬৬ ১০ ২০ ২২

mdash ও ও ও

৩৯ ৫১ ও ২ ও

১৬ ৪৬ ও ও ৬ ৯৯ ও

৩ ৮৫ ৯ ৯৫

১৯ ৮২

৮০

ও ( )

mdash

Daily News Flash 12th November 2017

49

ও ও

Source httpbonikbartanetbanglanews2017-11-10137755 - - - -৭- - --

ফ - ফ ও -ও

-ও

-ও

২৯-১০-২০১১ ৩ ( ) ২৮-১০-২০১৪

৩ ( ) ২৮-১১-২০১৬

২৮-১০-২০১৭ ৩ ( )

২০১৬-১৫৮১৩৪ ৪৪ ০৭-০৮-

২০১২ ১২(৬) ২ ( ) ৬ ( )

-ও - ও ২ ( )

৬ ( ) ও ও

-ও ৩ ( )

-

ও ও

১৯৯৪

২ ২২-০৫-২০১২ -ও ৩

- -

১৯৯৪

-ও

- ও

( )

১৯৯৪

১৯৯৪ -ও

Source httpwwwsharenews24comindexphppage=detailsampnc=1ampnews_id=6587

Daily News Flash 12th November 2017

50

ফ ফ

১৫ ও

-( ) ও

৪৯

১৬ ৮৫

৫১ ৪৯

৪ ৩৬

১৯১৩

১০০ ও ১৯০১ ১৯৬০

Source httpswwwdailystockbangladeshcom - - - -

- ( -১)

( ) ৮

৩০০ ও

( ) ১৬

- ২২৮ ৪৯ ১৮৩ ২০১৮

( ) ও

১৫০

( ) ও ৪০ ৩০

ও ও

ও ও

Source httpswwwdailystockbangladeshcom - - -

Page 12: Daily News Flash, 12th November, 2017 -  · PDF filebanglalink's revenue falls 4.57pc in q3 ... banks lack remedial strategy while npl rises worryingly

Daily News Flash 12th November 2017

12

Remittance and exports the two major sources of foreign currency for Bangladesh are in the slow lane while imports have ballooned Yesterday the inter-bank exchange rate of the US dollar stood at Tk 8095 up from Tk 7849 a year earlier The central bank has already sold $126 million to banks this month to halt the depreciating trend of the taka according to a Bangladesh Bank official ldquoBut it is not yielding the desired result as the demand for the US dollar continues to riserdquo From July 1 to November 9 the central bank has sold $440 million to banks In contrast it sold $175 million and purchased $193 billion during the course of fiscal 2016-17 Some banks are now trading the US dollar with each other bypassing the inter-bank exchange rate set by the central bank meaning that they completed the transaction beyond the rate the BB official said The central bank has put a cap on the US dollar at inter-bank exchange rate plus Tk 2 on April 27 in a meeting with the Association of Bankers Bangladesh with a view to keeping the market stable Besides on Monday it warned a number of banks for such unethical practice and asked them to strictly follow the inter-bank rate to settle foreign exchange transactions among them ldquoSome banks had secretly struck up deals between themselvesrdquo said Md Arfan Ali managing director of Bank Asia adding that the banks were forced to settle transactions at the higher rate because of the scarcity of the US dollar Banks usually do not get greenbacks from the central bank which compelled them to settle the deal avoiding the inter-bank rate said Syed Mahbubur Rahman managing director of Dhaka Bank Subsequently he urged the government to take initiatives to increase export earnings and remittances to ensure steady supply of the US dollar ldquoThe current account balance posted a huge deficit in the first quarter of the fiscal year This reflects the existing foreign currency shortagerdquo he added Between the months of July and September the current account deficit stood at $179 billion in contrast to $539 million in the surplus a year earlier according to data from the central bank During the period the trade deficit widened to $365 billion from $156 billion a year earlier Source httpwwwthedailystarnetbusinessdollar-suddenly-becomes-dearer-1489096

POLICY SUPPORT NEEDED TO DIVERSIFY EXPORTS ANALYSTS The government should extend its policy support beyond the garment sector in order to diversify exports said experts yesterday ldquoWe will have to give importance to various promising sectors which are apparently not visible like the garment sector to diversify exportsrdquo said Prof Wahiduddin Mahmud an eminent economist He said the government would have to provide subsidies to small sectors mostly manufacturing industries to carry on the existing export growth momentum He was speaking at the Bangladesh Enterprise Institutes stakeholder consultation workshop on ldquoExport Diversification Challenges and Prioritiesrdquo IFIC Bank organised the programme at its headquarters in Dhaka Commerce Minister Tofail Ahmed said Bangladesh would be able to reach its export target of $60 billion by 2021 Prof Mahmud said the manufacturing sector should be focused to make the countrys growth export-led Otherwise it would not be possible to maintain the current share of exports to the GDP after two or three years Salman F Rahman vice-chairman of Beximco Group who chaired the workshop said the government will have to extend the bonded warehouse facilities to all sectors and give cash incentives to small sectors

Daily News Flash 12th November 2017

13

He said the government is cutting various policy supports including cash incentive for the garment sector ldquoBut it is not the right time to discontinue the incentivesrdquo The businessman urged the government to continue its support so that the garment sector can maintain its growth momentum Mustafizur Rahman a distinguished fellow of the Centre for Policy Dialogue said intra-garment diversification needs to continue to boost exports He said the exchange rate should be kept at the level that helps exporters The economist said pharmaceutical leather and light engineering sectors have huge opportunities to contribute to exports if they receive supports Allah Malik Kazemi change management adviser to the Bangladesh Bank said the global slowdown has affected the exporters He said the central bank keeps the interest of exporters in mind while managing the foreign exchange market Md Nojibur Rahman chairman of the National Board of Revenue said there is political commitment from the government to stand by exporters He emphasised export diversification saying the NBR also has a role to play by way of supporting small sectors Kazi M Aminul Islam executive chairman of the Bangladesh Investment Development Authority said the government would have to put more emphasis on agriculture and manufacturing sectors to diversify exports He said the garment sector grew fast riding on the policy support provided by the government in areas such as bonded warehouse exchange rate and incentives ldquoOther promising sectors should be provided the same policy support so that they can growrdquo he said Mohammad A Razzaque project leader of the BEI said it is stated that the non-garment exports will not grow because of the policy support provided to the garment sector He disagreed with the argument saying promoting export diversification and maintaining the garment sector dynamism must go hand in hand BEI President Farooq Sobhan also spoke Source httpwwwthedailystarnetbusinesspolicy-support-needed-diversify-exports-analysts-1489081

DIGITAL HUNDI SHRINKS REMITTANCE FLOW THROUGH BANKS BIBM Hundi traders have been fast transferring remittance to relatives of expatriate Bangladeshis through mobile services which have resulted in a fall in the amount of money sent through banking channels This was reflected in a research report by the Bangladesh Institute of Bank Management (BIBM) The report titled ldquoIncreasing flow of remittance through banking channel Bangladesh contextrdquo was placed at a seminar at the BIBM auditorium yesterday A six-member team led by BIBM Director Shah Md Ahsan Habib prepared the report According to the report remittance flow decreased in recent times all over the world but the fall in Bangladesh was more as it accounted for a considerably high amount of remittance generated in total The report identified several reasons for which remittance was plunging including bank branches being distant from the houses of remitters relatives The report also mentioned a lack of good behaviour on the part of bankers requirement of various documents and weekly holidays as causes BIBM Supernumerary Professor Yasin Ali said the scope of mobile banking has much increased in the last five year but banks have failed to utilise the channel He said banks have to provide remitters the opportunities which were offered by unofficial channels otherwise inflow of remittance through the banking channel would plummet

Daily News Flash 12th November 2017

14

Another BIBM Supernumerary Professor Helal Ahmed Chowdhury said the cost of sending remittance through banking channels was higher the effect of which was falling on remittance inflow Chowdhury said an initiative has to be taken to slash the cost of transferring remittance to increase the inflow through banking channels SK Sur Chowdhury deputy governor of Bangladesh Bank said remittance flow to Bangladesh declined by 1110 percent in 2016 due to lower oil prices and fiscal policy tightening in the Gulf Cooperation Council countries It is hoped that awareness programmes would encourage non-resident Bangladeshis to come forward to know the importance of channeling their money through banks he said Chowdhury also said to ease the flow in the formal channel Bangladesh Bank has reduced the security deposit requirement for exchange houses abroad to establish drawing arrangements with local banks In addition to their own bank branches and ATM booths banks are now using the branch networks of microfinance institutions and post offices as sub agents for remittance distribution Remittances are also distributed through agent banking such as that provided through Singer Bangladesh Limited outlets he said Furthermore Bangladesh Bank has established a separate ldquoFinancial Integrity and Customer Interest Protection Departmentrdquo to handle complaints and suggestions of customers or stakeholders at home and abroad to ensure smooth and hassle free services The ldquo16236rdquo hotline is to address customers hassles if any He said at the moment no bank can take more than two days in reaching remittance to designated beneficiaries Source httpwwwthedailystarnetbusinessdigital-hundi-shrinks-remittance-flow-through-banks-bibm-1489075

JOINT VENTURE TO PRODUCE 600MW IN MATARBARI

A joint venture between Japans Mitsui amp Co and a state-run Bangladeshi company is going to set up a liquefied natural gas-based power plant at Matarbari in Maheshkhali upazila to produce 600 megawatts of electricity Coal Power Generation Company Bangladesh Ltd yesterday signed a primary agreement with Mitsui amp Co to this effect in Dhaka on Wednesday according to a statement of the power and energy ministry The companies will have 50-50 ownership in the joint venture that will complete the project by 2021 The government has taken initiatives to import a huge amount of LNG from next year Both land-based and floating LNG terminals will be set up The government has approved two floating LNG terminals each of which will supply 500 million cubic feet of gas per day In July state-run Petrobangla and US-based Excelerate Energy signed the final deals to set up Bangladeshs first LNG terminal in Maheshkhali which will supply gas to the national grid from early 2018 The government also awarded Summit Group the work to set up the countrys first floating LNG terminal also in Maheshkhali This one is due for commissioning by next October Source httpwwwthedailystarnetbusinessjoint-venture-produce-600mw-matarbari-1489069

Daily News Flash 12th November 2017

15

EXPORTS TO EU STATES BUT GERMANY POST ENCOURAGING GROWTH

Bangladeshrsquos export earnings from European countries except Germany registered a significant growth in the July-October period of this financial year 2017-18 riding on an excellent performance of readymade garment products According to the Export Promotion Bureau data exports to major European countries registered double digit growth in the four months of FY18 while the RMG export to Germany fell in the period compared with that in the same period of last fiscal year The EPB data showed that Bangladesh suffered a negative export growth in two promising markets mdash Japan and China mdash in the July-October period of FY18 Exporters said that earnings growth in the EU markets increased in recent months as the euro appreciated against the dollar They also said that buyers and brands cut import orders from Bangladesh for their Chinese stores that caused the negative growth Export earnings from the UK the second largest export destination for Bangladesh in the EU grew by 2084 per cent to $134 billion in the four months of FY18 from $111 billion in the same period of FY17 Earnings from apparel products fetched $125 billion with 2227 per cent growth in the period Export earnings from Spain in July-October in FY18 grew by 2581 per cent to $80102 million from $63670 million in the same period of FY17 Export earnings from the Netherlands rose by 3416 per cent to $40108 million in the four months of FY18 Bangladesh earned $58097 million from France with 270 per cent growth and $46374 million from Italy with 1206 per cent growth Exports to Germany the second largest export destination for Bangladesh in the July-October period of FY18 stood at $186 billion the same amount earned in the July-October period of FY17 Anwar-ul-Alam Chowdhury Parvez former president of the Bangladesh Garment Manufacturers and Exporters Association said exports depend on season and the earnings from Germany would increase from November RMG export earnings fell by 039 per cent to $173 billion from $174 billion in the market data showed lsquoWe have to wait to identify the reasons for the stagnancy of growth in the German market Hopefully the export would rebound in the market in the coming monthsrsquo Md Fazlul Haqe former president of the Bangladesh Knitwear Manufacturers and Exporters Association told New Age on Saturday

Daily News Flash 12th November 2017

16

Export earnings from the US the largest destination for Bangladeshrsquos exports in the July-October period of FY18 grew by 228 per cent to $187 billion from $183 billion in the same period of FY17 Apparel export to the market grew by 244 per cent to $168 billion from $164 billion The EPB data showed that the countryrsquos export earnings from Japan in the July-October period of FY18 fell by 394 per cent to $33390 million from $34760 million in the same period of FY17 Export earnings from China in the four months of the FY18 decreased by 2242 per cent to $22475 million from $28971 million in the corresponding period of last fiscal year Parvez said that the domestic consumption in China slightly decreased in recent times and global retailers also cut import orders from Bangladesh for their Chinese stores due to congestions in the Chittagong port lsquoWe are losing many orders from global brands as we have been failing to meet lead time due to the problem in the portrsquo he said Source httpwwwnewagebdnetarticle28200exports-to-eu-states-but-germany-post-encouraging-growth

REHAB LEADERS DEMAND CUT IN TAXES Realtors on Saturday urged the government to cut tax rates at different levels of the housing sector to give a much-needed boost to the sector They also requested the government not to raise question over the source of the minimum paid up capital (Tk 1 crore) a real estate company requires to be a member of the Real Estate and Housing Association of Bangladesh REHAB leaders made the requests at a joint meeting with the National Board of Revenue held in a city hotel on the day NBR chairman Nojibur Rahman attended the meeting as chief guest while REHAB president Alamgir Shamsul Alamin senior vice-president Nurun Nabi Chowdhury Shaon and vice-president Liakat Ali Bhuiyan were also present among others Alamgir said that the REHAB made it mandatory for its member companies to have Tk 1 crore paid up capital and he requested the government not raise question over that money The government earlier made it mandatory for all developer companies to be REHAB members Alamgir also urged the government to form a re-financing fund worth Tk 20000 crore under Bangladesh Bank to provide low-interest and long-term loans to the potential apartment buyers He demanded apartment registration fee to be reduced to 65 per cent from the existing 155 per cent mentioning that other SAARC countries maintained it at 4-7 per cent Alamgir said that the government was losing huge revenue due to the high apartment registration fee as buyers were showing unwillingness to register their apartments at high cost Nurun Nabi urged the government to meet the REHABrsquos longstanding demands to save the housing sector from ruination He also called for reducing corporate tax of non-public traded companies to 20 per cent from the existing 35 per cent He sought a cut in the tax on signing money to 75 per cent from the existing 15 per cent Alamgir also appealed for reducing tax rate on apartment resale to 3 per cent He also sought total 15 per cent tax and VAT on professional services like engineering and architecture from the current 27 per cent Nojibur said that an NBR-REHAB joint working group would be formed to work together for the betterment of the housing sector He also requested REHAB leaders to provide opinions on the income tax law that would be amended soon He assured them that the NBR would consider their demands Source httpwwwnewagebdnetarticle28201rehab-leaders-demand-cut-in-taxes

Daily News Flash 12th November 2017

17

BrsquoDESH BHUTAN START TRADE DATA SHARING IN JAN Bangladesh and Bhutan have decided to start exchanging export-import data from January 1 to verify trade documents to check duty evasion and other customs-related offences through misdeclarations of goods and prices during trades between the two countries The data will be mailed in the first week of the subsequent month according to the decision taken at the 3rd Bangladesh-Bhutan joint group of customs meeting held in November 7-8 in Thimphu the capital of the Himalayan kingdom Initially both sides will exchange export data of three commodities and gradually the scope will be expanded to all the export items Delegations from the both sides also agreed to boost the existing trade volume between the two countries and improve infrastructure at land customs stations of Bangladesh and Bhutan to facilitate border trade Bhutan informed the meeting that they were establishing a mini dry port at Phuentsholing which would boost border trade between the countries National Board of Revenue member (customs audit modernisation and international trade) Khondaker Muhammad Aminur Rahman and Bhutanrsquos Department of Revenue and Customs director Yonten Namgyel led the respective delegations at the meeting Following a request from Bangladesh Bhutan agreed to put necessary information including country of origin name and address business identification number and tax identification number of importer on the export packages as per the current Import Policy Order of Bangladesh Both sides also agreed to hold ground-level customs meetings twice a year alternately at Phuentsholing of Bhutan and Burimari of Bangladesh to resolve customs-related problems smoothly The two countries also decided to raise the issue of improving the infrastructure at Changrabandha (Indian LCS opposite to Burimari of Bangladesh) and Jaigaon (Indian LCS opposite to Bhutanrsquos Phuentsholing) to ensure smooth border trade between the countries Bangladesh also requested the landlocked kingdom to use Nakugaon-Dalu-Gelephu route for their imports and exports as Bangladesh has decided to upgrade Nakugaon LCS as a trade hub for border trade with India and Bhutan Bangladesh side also underscored the potentials of use of riverine routes as mode of transport for export and import of goods Bhutan may also get duty-free market access for limestone powder export to Bangladesh according to the decision of the meeting Mohammad Ehteshamul Hoque NBR first secretary of customs modernisation and international trade on Saturday told New Age that both countries had resolved some small-scale problems to facilitate bilateral trade and committed to further enhancing border trade The planned ground-level meeting of customs officials will also play a role in identifying and resolving bottlenecks in trade between the two nations he said According to the NBR data Bangladesh exported products worth $322 million to Bhutan in the fiscal year 2016-2017 while it imported from the country products worth $3315 million Bangladeshrsquos highest export earnings from the country were $913 million posted in the FY 2011-2012 and the earnings have been declining with fluctuations over the years Bangladeshrsquos major export items to Bhutan are bakery items fruit and vegetable juices tableware kitchenware and toiletry articles of plastics non-alcoholic beverages menrsquos singlets briefs pyjamas medicament mixtures rice aluminium structure and few garment items On the other hand the country imports mainly citrus fruits stone granite dolomite limestone ferro-alloys apple and gypsum from Bhutan Source httpwwwnewagebdnetarticle28202bdesh-bhutan-start-trade-data-sharing-in-jan

Daily News Flash 12th November 2017

18

TAX FAIRS AT ALL ZONES BEGIN TODAY Income tax fair begins today at all income tax zones across the country to provide taxpayers with services in a similar hassle-free atmosphere they got at recently-concluded countrywide weeklong tax fair National Board of Revenue chairman Md Nojibur Rahman on Saturday in a statement said that the decentralised fair at the zones with similar facilities like the weeklong national tax fair would continue till November 30 the last day of income tax returns submission Tax officials will also start issuing income tax ID cards from November 20 to the taxpayers under each tax zone in Dhaka Issuance of ID cards will continue till November 28 There are 31 income tax zones across the country including 15 in Dhaka and four in Chittagong Officials of the revenue board said that the NBR took the decision so that all taxpayers could file their tax returns without any hassle with maximum support from tax officials Initially the NBR planned to issue ID card from November 9 which was deferred due to lack of preparation Source httpwwwnewagebdnetarticle28203tax-fairs-at-all-zones-begin-today

BTRC LIKELY TO LOSE RIGHTS OVER UNUSED BALANCE IN BLOCKED SIMS Mobile phone operators are likely to get relief from paying the government the unused balance in the SIM cards that would be blocked by the telecom regulator for various reasons especially for illegal voice-over internet protocol calls Mobile operators however will have to return the unused balance to its owner if claimed said officials of Bangladesh Telecommunication Regulatory Commission They said that a proposed amendment to the 4G licencing guidelines that would be passed by the telecom regulator in the upcoming commission meeting following instruction from prime ministerrsquos ICT advisor and posts and telecommunication ministry The instruction was made based on a meeting between the mobile phone operators and the government high officials on the proposed 4G licencing guidelines they said As per the BTRC approved draft 4G licencing guidelines that would be revised it was mandatory for all the operators to pay the BTRC the remaining balance amount of the identified illegal prepaid VoIP callers and unsuccessful or fake SIM registration of service connection fund at the time of deactivating them It was also mentioned in the guidelines drafted earlier that there would not be any rights of the mobile network operators over the forfeited account balance of the illegal VoIP callers Whereas it was also mandatory for the operators to pay the remaining balance of such SIM cards within ten days of the following month In case of deactivation of SIM cards for illegal VoIP calls mobile operators would keep the remaining balance while operators would have to pay the balance to its owner if claimed for deactivation of SIM cards for any other reason Such specification about the unused balance would help the operators while the government would lose its rights over the forfeited fund BTRC officials said Such initiative might foil another BTRC move to take stand against the mobile phone operators for non-payment of unused balance in the SIM cards which were blocked by the telecom regulator for various reasons Countryrsquos leading mobile phone operator Grameenphone in February this year deposited Tk 733 crore to the telecom regulator against the unused balance in the connections that were blocked between 2008 and 2014

Daily News Flash 12th November 2017

19

While other operatorsmdash Banglalink Robi Airtel Citycell and Teletalk mdash were yet to pay any fund to the commission in this regard Airtel formerly known as Warid Telecom has already merged with Robi in November 2016 Apart from the unused balance issued the government acknowledged almost all the issues raised by the mobile phone operators about the 4G licencing guidelines BTRC officials said Source httpwwwnewagebdnetarticle28107btrc-likely-to-lose-rights-over-unused-balance-in-blocked-sims

BONDED WAREHOUSE BACK-TO-BACK LC SHOULD BE OPEN TO ALL EXPORTERS Bonded warehouse facility and back-to-back letter of credit facility should be open for all for the export of all sorts of goods to diversify export products said experts and businesses at a workshop on Thursday They came up with the observation while speaking at a stakeholdersrsquo consultation workshop on lsquoExport Diversification Challenges and Prioritiesrsquo organised by Bangladesh Enterprise Institute at IFIC Tower in Dhaka Commonwealth Secretariat adviser and head of international trade and regional cooperation Section Mohammad Razzaque presented a keynote paper on lsquoRevitalising Bangladeshrsquos export trade Policy issues for growth acceleration and diversificationrsquo Razzaque in his presentation said that there should be alternatives of diversifying export destinations and products to achieve $60 billion export target by the year 2021 Although the country has continued to achieve more than 6 per cent growth export to GDP ratio has declined a bit in last couple of years and to increase the ratio for sustaining economic growth there was no alternative to increasing exports he said To facilitate export diversification and ensure equal facility treatment among the exporters all the sectors should get bonded warehouse facility as well as back-to-back letter of credit facility that helped the countryrsquos readymade garment sector to grow Razzaque said Salman F Rahman private sector development advisor to prime minister also said that the bonded warehouse and back-to-back LC facilities should be opened for all to support other exporters Suggesting for the continuation of existing facility for the RMG sector Salman also president of BEI said lsquoWe need product diversification for the economic growth but not at the cost of RMG sectorrsquo Former Dhaka University economics department chairman Wahiduddin Mahmud said that the gov ernment should set a broad category and announce subsidy and cash incentives for longer period to help the sectors to contribute to exports as well as economic growth Speaking about the exchange rate issue the eminent economist also said lsquoAs balance of payment has turned negative the government should not try to control the exchange rate anymorersquo Centre for Policy Dialogue distinguished fellow Mustafizur Rahman said lsquoApart from diversification of other products intra-RMG sector product diversification is also important as we have created a strong foothold in the sector and itrsquos a one trillion dollar marketrsquo Speaking about the repeated change in policy Federation of Bangladesh Chambers of Commerce and Industry president Shafiul Islam Mohiuddin said lsquoElectricity price has been doubled with just a so-called hearing and that led our foreign partners to backtrackrsquo Speaking about the 070 per cent source tax imposed on apparel sector commerce minister Tofail Ahmed said rsquoAlthough we cannot do a lot for the sector but such tax should not remain on the sectorrsquo Source httpwwwnewagebdnetarticle28039bonded-warehouse-back-to-back-lc-should-be-open-to-all-exporters

Daily News Flash 12th November 2017

20

GOVT TO SPEND FUND FOR TOBACCO CONTROL MEASURES CAMPAIGNS The government has finally framed a policy on the use of health development surcharge it imposed on tobacco products three and half years ago The health and family welfare ministry on Wednesday issued the gazette notification of Health Development Surcharge Management Policy-2017 identifying 16 sectors for spending the fund on The fund will mainly be used for limiting the demand for and supply of tobacco products financing tobacco control activities conducting researches and campaigns and operating Tobacco Tax Cell of the National Board of Revenue The revenue board in July 2014 imposed 1 per cent surcharge on all tobacco products both locally produced and imported ones aiming to spend the fund for implementing the programmes to control and discourage the use of tobacco products and prevent tobacco-related diseases In the last three fiscal years (2014-15 2015-16 and 2016-17) the tax authority collected around Tk 900 crore as health development surcharge from tobacco products including cigarette bidi gul zarda and other smoking and chewing tobacco products But the fund remains idle as the health ministry has not got the access to the fund over the years as there was no policy on how to the money be used Officials of the revenue board said that formulation of the policy had paved the way for utilising the fund for tobacco control and prevention of tobacco-related diseases They said that every year around Tk 300 crore would be added to the fund According to the policy the collected surcharge will be used for financing national tobacco control activities operation of the NTCC under the ministry campaigns in the mass media on health hazards of tobacco products and tobacco control and providing trainings to stakeholders The fund will also be used for setting up National Quitline a hotline to help people quit tobacco consumption and providing financial and technical support to organisations for implementation of programmes to prevent tobacco-related non-communicable diseases Programmes will also be taken to create awareness among farmers against tobacco cultivation and motivate them to cultivate alternative crops according to the policy According to the policy a Health Development Surcharge Management Committee headed by the health minister will supervise the proper use of the fund The National Tobacco Control Cell will provide secretarial support to the committee Fund from other sources such as possible imposition of any surcharge on products hazardous to health in future and donations from local and foreign sources will also be added to the fund it said The expenditures from the fund will be audited in line with the methodology followed for the other government agencies it said According to the Global Adult Tobacco Survey-2009 some 413 crore people or 43 per cent of the total population of Bangladesh consume tobacco products On the other hand 430 crore people are victims of indirect smoking According to the World Health Organisationrsquos 2004 data 57000 people die every year in Bangladesh suffering from tobacco-related diseases The government has taken an initiative to make the country smoking free by 2040 Source httpwwwnewagebdnetarticle28040govt-to-spend-fund-for-tobacco-control-measures-campaigns

STUDY BLAMES MOBILE HUNDI FOR FALLING REMITTANCES THRU BANKING CHANNEL A study of Bangladesh Institute of Bank Management on Thursday blamed Hundi through mobile financial services including bKash Rocket mCash and UCash for decreasing remittance through banking channel

Daily News Flash 12th November 2017

21

The study conducted by a six-member team identified distance of bank branches delay in receiving money misconduct by bankers submission of various documents weekly holidays of banks and illegal immigrants as the reasons for increasing remittance inflow through mobile Hundi The six-member team headed by BIBM director Shah Md Ahsan Habib presented the study at the seminar presided over by BIBM director general Toufic Ahmad Choudhury held in the auditorium of the institute in the city lsquoIn Bangladesh remittances declined by an estimated 111 per cent in 2016 in the face of lower oil prices and fiscal tightening in the GCC countries Among other reasons use of Illegal channel by the expatriates is doing harm to our countryrsquo Bangladesh Bank deputy governor Shitangshu Kumar Sur Chowdhury said He said that it would not be possible to stop Hundi totally but BB is working to check the transactions through the illegal channel To ease the formal channel BB has reduced the security deposit requirement for the exchange houses abroad to make arrangements for remittances with local banks Shitangshu said The BB deputy governor hoped that Non-Resident Bangladeshis would come forward to know the importance of their money to be sent through banking channels BB former executive director Yasin Ali said that national economy was being hindered due to remittance inflow through illegal channels He suggested using mobile banking facilities for remittance inflow saying that the area of mobile banking expanded many fold in last five years Helal Ahmed Chowdhury former managing director of Pubali Bank suggested bankers to be courteous with bank customers Source httpwwwnewagebdnetarticle28041study-blames-mobile-hundi-for-falling-remittances-thru-banking-channel

POLICY SUPPORT MUST TO DIVERSIFY EXPORT BASKET Speakers on Thursday said that in order to diversify the countryrsquos export basket export-oriented businesses should be given the policy support that has proved highly successful in bringing vibrancy to the countryrsquos RMG sector They were speaking at a workshop styled ldquoExport Diversification Challenges and Prioritiesrdquo organised by Bangladesh Enterprise Institute (BEI) in the auditorium of International Finance Investment and Commerce Bank in Dhaka Dr Mohammad A Razzaque former head of International Trade Policy at Commonwealth Secretariat in London presented a keynote paper in the programme chaired by Salman F Rahman private sector development advisor to Awami League President and Prime Minister Sheikh Hasina Skill development measures may also play a vital part in this regard Salman said export diversification would be possible only when adequate and appropriate policy support is provided to all export-oriented industries Dr Razzaque in his keynote paper suggested revamping and deepening policy support such as providing cash assistance and bonded warehouse facilities to all such industries to improve their export competitiveness He also highlighted the need for further expanding Bangladeshrsquos export basket as its penetration into global export markets in the last decade was very insignificant Eminent economist Prof Wahiduddin Mahmud said ldquoIn addition to providing subsidies and cash incentives to thriving and promising sectors on a long-term basis the government should take measures to strengthen the countryrsquos manufacturing baserdquo

Daily News Flash 12th November 2017

22

Shafiul Islam Mohiuddin president of the Federation of Bangladesh Chambers of Commerce and Industry said the governmentrsquos support is a must to create a strong manufacturing base for export diversification ldquoSkill development measures may also play a vital part in this regardrdquo Addressing the event as the chief guest Commerce Minister Tofail Ahmed said export diversification depends on businessmenrsquos initiatives He however pledged all necessary support from the government for export diversification to meet the countryrsquos $60 billion export target by 2021 BEI President Farooq Sobhan emphasised engaging the private sector in relevant policy discourses to achieve the target ldquoA private sector-oriented policy mechanism is very important as rapid changes are taking place in the global trade landscape Understanding implications and generating timely policy responses to unfolding developments will be meaningful only when the private sector is able to benefit from themrdquo said Sobhan Among others Mustafizur Rahman a fellow at the Centre for Policy Dialogue Kazi M Aminul Islam executive chairman of Bangladesh Investment Development Authority Bijoy Bhattacharjee vice chairman of Bangladesh Export Promotion Bureau and Md Nojibur Rahman chairman of the National Board of Revenue also spoke Source httpwwwdhakatribunecombusinesseconomy20171109policy-support-must-diversify-export-basket

BANKS LACK REMEDIAL STRATEGY WHILE NPL RISES WORRYINGLY Some of Bangladeshs banks dont have in-depth look into the problem of spiraling non-performing loans (NPL) while many others try to frame remedial strategies perfunctorily Such observations came out from studies on banking as well as financial sector at large as the NPL surge worries many quarters One finding shows that around 11 per cent of the countrys banks did not have an in-depth look into the issue of NPLs in the past year despite a growing concern over the problem in the financial arena The recent industry-wide survey also revealed that around 30 per cent of the countrys banks had not assessed their past NPL-reduction strategies at all while 36 per cent did so only on an ad-hoc basis The findings came out from the survey of the Chief Risk Officers at the banks on issues concerning NPL strategy in their institutions Leading banking research and training institution Bangladesh Institute of Bank Management (BIBM) conducted the study The research findings come at a time when the ballooning NPLs is becoming a major issue with the countrys banking industry and also triggering concerns and criticisms As per the central bank data the volume of NPLs had increased by more than 21 per cent to Tk 62172 billion by the end of 2016 swelling from Tk 51371 billion a year before The findings are genuinely surprising as we are struggling to find a bank for which NPL is not an issue in some capacity said Sazib Azad Senior Advisor of BIBM who led the research initiative Furthermore if the bank itself is immune to the impact of NPL even then they need to consider whether they are immune from structural or market-level impacts as well he told the FE However relevant survey results show the potential lack of such considerations as only 10 per cent of bank CROs taking part in the survey said that their banks are addressing potential dependence on market assessment and strategy What is more surprising is that the NPL strategies of around 62 per cent of the banks are not signed off by the boards the survey found

Daily News Flash 12th November 2017

23

This is quite striking because given the severity of the non-performing-loan issue the NPL strategy should be signed off by the boards Mr Azad said adding Boards are not only accountable for the health of the banks but are also in position to release resources to get to grips with the issue In addition the survey result also revealed 31 per cent of the banks not communicating their NPL strategy across the bank NPL as an issue needs to be addressed from ground up But the results show that this is not happening at our banks said an expert who was involved with research Meanwhile 25 per cent of the CROs said they were not tracking the implementation and effectiveness of NPL strategy in their banks- something which according to experts is a cause of concern Given how critical an issue NPL exposure is we would expect every CRO to track how the NPL strategy is being implemented its effectiveness and how to improve matters to the Board Risk Committee and the Board the banking experts said Meanwhile the survey results also found that although 94 per cent of the banks had stress-tested their balance sheet in terms of NPL drag this figure drops to 56 per cent while considering the impact to and from the wider economy market and structural aspects It seems that 33 per cent of the banks do not formally consider this aspect with a further 11 per cent not looking at this dimension at all the researchers said Experts also noted that with Basel 3 farther putting capital under pressure sensible banks should dynamically model the impact of key risks to their capital However the survey results show 17 per cent of the banks are not doing so while 31 per cent doing it in a limited manner Asked whether their banks risk-appetite-statement metrics reflected their NPL strategy 36 per cent of the respondents said they do so in a limited capacity while a further 80 per cent are not doing that at all It was also found that 25 per cent of the C-Suites have specific NPL-strategy-related targets while 31 per cent of the CROs have the same Meanwhile when asked whether they consider their NPL strategy to be embedded just over half of them or 52 per cent of the survey participants said Yes This according to experts is clearly not fit for purpose given the severity of the NPL issue facing the banking sector The first step in looking into the NPL issue is to assess internal capabilities to effectively manage NPLs Next external conditions or operating environment needs to be considered Finally the capital implications of the NPL strategy need to be analyzed said Sajib Azad The findings of the survey will be shared with the stakeholders during the next CRO forum of BIBM expected to take place next month where the issue of Risk Culture will also figure high The biggest reason for the swelling of NPL in our banking sector is a lack of good governance To check the ballooning of NPL the internal governance of the banks has to be strengthened above all Director-General of BIBM Toufic Ahmad Choudhury said Meanwhile the survey also found banks tending to consider time-horizon portfolio segment and exposure-level-based targets to be broadly equally important to their NPL strategy In terms of options preferred for reducing NPL banks consider change of exposure type to be most effective (36 per cent) followed by active portfolio reductions (33 per cent) and hold forbearance (31 pe rcent) Source httptodaythefinancialexpresscombdfirst-pagebanks-lack-remedial-strategy-while-npl-rises-worryingly-1510417700

GOVT SEEKS US$183B UNDER 39TH JAPANESE ODA PACKAGE The government has sought around US$183 billion worth of assistance from Japan for bankrolling six development projects officials said Saturday

Daily News Flash 12th November 2017

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Officials at the Ministry of Finance (MoF) said they have already discussed the issue with the Japan International Cooperation Agency (JICA) We are hopeful of receiving funds under its upcoming 39th Official Development Assistance (ODA) package to finance six development projects a senior MoF official told the FE He said a JICA mission in September-October last completed its visit to Bangladesh to explore the possibilities of financing the proposed projects We are hopeful of signing the 39th ODA package with JICA within a couple of months he said After signing the loan deal the largest bilateral donor will start disbursement of funds from the proposed $183 billion aid package for the six development projects the MoF official added The proposed six projects under the 39th ODA package are Matarbari port development Dhaka MRT line-6 construction (phase-III) Dhaka MRT line -5 feasibility study Matarbari ultra super critical coal-fired power plant (phase-IV) Jamuna Railway Bridge construction and Health service strengthening project A senior official of Economic Relations Division said the proposed 39th ODA package will be very useful for Bangladesh as it will be utilised to develop the Matarbari port ongoing Matarbari power plant project conduct feasibility study and detailed design of the MRT line-5 in Dhaka and to construct railway bridge over the River Jamuna All of these projects are very important for the country to ensure smooth transportation and uninterrupted power supply he added Japan is the largest bilateral development partner of Bangladesh Over last 5-6 years it has enhanced its aid with confirmation of more than US$10 billion worth of funds under each of the aid packages In the last 38th ODA package signed in June 2017 JICA provided Yen 178223 billion ($164 billion) for utilising in six development projects on transport infrastructure power and water sector improvement works In June 2016 Japan signed the 37th ODA deal worth $150 billion (17354 billion Japanese Yen) with Bangladesh and in December 2015 it inked the 36th ODA package confirming $12 billion concessional loan for six development projects Under the last 38th ODA package JICA offered $700 million (Yen 76825 billion) for Hazrat Shahjalal International Airport Expansion project $480 million (Yen 5273 billion) for 2nd Kanchpur Meghna and Gumti bridges construction $50 million (Yen 5593 billion) for Dhaka Mass Rapid Transit development project (Line 1) $100 million (Yen 10745 billion) for Matarbari ultra super critical coal-fired power plant $190 million (Yen 20477 billion) for Dhaka underground substation construction project and $110 million (Yen 11853 billion) loan for small scale water resources development project Japan has so far provided Bangladesh with nearly US$12 billion in assistance since the financial year (FY) 1971-72 Source httptodaythefinancialexpresscombdfirst-pagegovt-seeks-us183b-under-39th-japanese-oda-package-1510417739

SUMMIT GROUP ENTITIES TO ISSUE PREFERENCE SHARES WORTH $1250M A subscription closing ceremony to raise capital through issuance of preference shares worth BDT 1000 million (USD 1250 million) for Summit Barisal Power Limited amp Summit Narayanganj Power Unit II Limited was held recently at Pan Pacific Sonargaon Dhaka said a statement LankaBangla Finance Limited acted as the Mandated Arranger LankaBangla Investments Limited acted as the Issue Manager and The City Bank Limited acted as the Agent Account Bank amp Custodian Bank to raise the fund In the event Mr Lt Gen (Retd) Engr Abdul Wadud Managing Director of Summit Barisal Power Limited amp Summit Narayanganj Power Unit II Limited Mr Khwaja Shahriar Managing Director amp

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CEO of LankaBangla Finance Limited Mr Mohammed Nasir Uddin Chowdhury Managing Director of LankaBangla Capital Market Operations Mr Mominul Islam Managing Director amp CEO of IPDC Finance Limited Mr R Q M Forkan Managing Director amp CEO of Bangladesh Commerce Bank Limited Mr Faruq M Ahmed Additional Managing Director of Trust Bank Limited Mr Akthar Hamid Khan Deputy Managing Director of Pubali Bank Limited Mr Arif Hasan Khan Vice President of Modhumoti Bank Limited Mr Mohammad Ibrahim Khalil FCA Vice President amp CFO of Bank Asia Limited and Mr Mahbub Jamil Vice President and Head of Structured Finance of The City Bank Limited along with other senior officials from the companies were present Source httptodaythefinancialexpresscombdstock-corporatesummit-group-entities-to-issue-preference-shares-worth-1250m-1510411878

BMBA URGES MUHITH TO EXEMPT INVESTMENTS BY MF SPONSORS Bangladesh Merchant Bankers Association (BMBA) has urged the finance minister to exclude some components including sponsors investments in mutual funds (MFs) from the banks exposure to the capital market It made the request for ensuring an environment conducive to gradual development of the capital market according to a proposal submitted to Finance Minister AMA Muhith last week The BMBA said the long-term or strategic investments needed to be excluded while calculating the exposure as these investments were not intended for frequent trading Non-convertible preference shares and non-listed securities also need to be excluded from the capital market exposure as it will never influence the capital market volatility it said in a letter to the minister According to the letter the MFs are passive investments where investors themselves are not involved in investment decision making and such fund portfolios are mostly of long-term nature than frequent trading On the other hand the sponsors of the MFs need to hold 10 per cent of the investment until liquidation of the fund So considering the fact the sponsors portions in MFs need to be excluded from the banks capital exposure said the BMBA proposal As per the Banking Act 1991 it said reporting requirement is on solo basis but the central bank has introduced consolidated calculation which is of dual effectdouble counting in the market exposure This kind of restrictive measure creates panic situation in the market and may hinder the potentials and prospects of the capital market as a whole the BMBA said It also said that this kind of practice needed to be stopped as such requirements and reporting practice would further squeeze the market and that the investors would lose their interest The BMBA said some organisations have invested on strategic purpose and were holding positions in the board and their exposure increased with rising the market price of MF units On the other hand in compliance with the securities rules they are unable to sell shares to reduce exposure the BMBA said terming the situation complicated In its letter the BMBA said that the capital market exposure of some banks and financial institutions increased without fresh investments following the upward trend of the market price as the exposure is calculated on the basis of market price If the banks need to go for selling off their excess exposure this will create unnecessary selling pressure on the market said the BMBA The association requested the finance minister to consider their proposal to facilitate the growth of the capital market by its own strength and prospect Source httptodaythefinancialexpresscombdstock-corporatebmba-urges-muhith-to-exempt-investments-by-mf-sponsors-1510411950

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ATIUR STRESSES ROLE OF REGULATORS IN DIGITAL FINANCIAL INCLUSION Former Bangladesh Bank Governor Dr Atiur Rahman chairs a session at the 5th Biennial Competition Regulation and Development Conference at Jaipur in India on Thursday Success of digital financial inclusion depends on the prudent role of the regulating bodies to a great extent And the recent progress in Bangladesh in this regard is a good example for the rest of the world to follow said Dr Atiur Rahman former governor of Bangladesh Bank says a statement He was chairing a session at the 5th Biennial Competition Regulation and Development Conference at Jaipur India on Thursday The three-day conference is being hosted by CUTS International and OECD Speakers of the session included Ravinder S Aurora Senior Vice President of Mastercard David Ongolo Kenyan Competition Authority and Dr A K EnamulHaque Professor of East West University Dhaka Many developing countries survived and even thrived during the last global financial crisis because they chose to follow a broad-based financial inclusion strategy And digital solutions played a crucial role in this financial inclusion drive said Dr Rahman He added that service providers must focus on reaching out to the customers in the rural socio-economic conditions Dr Rahman said that experience from Bangladesh can answer many of the burning questions regarding digital financial inclusion The central bank of the country has facilitated bank-led digitisation drive Be it Mobile Financial Service or be it Agent Banking the Bangladesh Bank has encouraged traditional players (ie the commercial banks) to lead the way And it has been proven to be very successful He also said that the world is witnessing only the beginning of the digital finance revolution Hence we must learn from all these experiments share our experiences and know-hows Only then we can work towards shaping global standards and practices Dr Rahman finally asked all central banks to be more proactive and collaborative with other stakeholders including non-traditional financial service providers to facilitate orderly development of digital financial inclusion so that consumers interests are better protected The grievance redressal mechanism developed in Bangladesh Bank with infusion of state of the art technology to gain trust of the customers in financial inclusion was also discussed widely in the session The panelists highly appreciated Bangladeshs regulatory move with public interest in mind using latest technology for replicable digital financial inclusion Source httptodaythefinancialexpresscombdtrade-marketatiur-stresses-role-of-regulators-in-digital-financial-inclusion-1510416319

FAO FEARS NEGATIVE BD FOOD OUTPUT GROWTH ON FLOODING Recent flooding has dampened the outlook for Bangladesh a likely third successive season of little or negative food production growth mainly rice reports UNB quoting FAO Barring major setbacks production recoveries could instead permit Bangladesh and Sri Lanka to slightly lower their 2018 imports to 11 million and 450 000 tonnes respectively according to the latest Food Outlook published by the UN Food and Agriculture Organisation (FAO) Among other rice importers Bangladesh Iraq Nigeria and the Philippines are all similarly predicted to replenish their inventories according to the report a copy of which obtained by the news agency These gains are however likely to be offset by stock reductions in the Republic of Korea Madagascar Sri Lanka and the United Republic of Tanzania all linked to output shortfalls Although the use of rice as animal feed is being sustained by the release of supplies from government granaries in Japan the Republic of Korea and Thailand more affordable feedstuffs are expected to displace rice in most other countries especially in Bangladesh China (Mainland) and Vietnam

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Since the previous Food Outlook report a series of unfavourable climate-related events have affected main paddy crops in the Northern Hemisphere which have now reached the harvesting stage This has been the case in Asia where unlike 2016 the critical Northern Hemisphere summer months were characterised by mixed growing conditions that inhibited planting expansions As a result FAOs latest forecast of world rice production in 2017 points to a broadly stable output level of 5008 million tonnes Production in Asia is now forecast to fall 550 000 tonnes below the 2016 bumper harvest to 4525 million tonnes The UN agriculture agency has said the cost of importing food is rising in 2017 driven by increased international demand for most food stuffs as well as higher freight charges The cost of importing food is forecast to rise six per cent in 2017 to $1413 trillion making it the second highest bill on record while food commodity prices have been generally stable according to the latest Food Outlook that expressed concern about the economic and social impact of this trend on poor countries Although weather disruptions are set to stall production growth this season global rice supplies are still forecast to exceed utilisation enabling a small expansion of world rice inventories Global trade is expected to rise only modestly in 2018 after staging an 8 per cent recovery in 2017 The food import bills are set to increase by double-digit rates for least-developed countries (LDCs) and low-income food-deficit countries Aromatic rice varieties have risen eight times faster than the FAO All Rice Index which is up four per cent on the year However the higher import costs come at a time when inventories are robust harvest forecasts are strong and food commodity markets remain well supplied The export of tropical fruits is promising for poverty relief and rural development as almost all production takes place in developing countries The export volumes of mango pineapple avocado and papayas are on course to achieve a total combined value of $10 billion this year according to the Food Outlook Source httptodaythefinancialexpresscombdfirst-pagefao-fears-negative-bd-food-output-growth-on-flooding-1510336161date=11-11-2017

STOCKS NUDGE HIGHER AS BANK TELECOM ISSUES SURGE Stocks extended the winning streak for the two consecutive weeks that ended Thursday as enthusiastic investors continued their buying appetite on bank and telecommunication issues Market operators said the positive momentum in some large-cap issues especially from banking telecom pharmaceuticals and food amp allied sectors helped the bourse to stay upbeat The banking sector posted the highest return of 445 per cent as 27 out of 30 listed banks ticked higher Four banks gained more than 10 per cent each The telecom sector also surged 342 per cent as Grameenphone the countrys largest market-cap listed companys shares price jumped 40 per cent to close at Tk 45690 each The market extended the winning streak riding on heavyweight bank and telecom issues said an analyst at a leading brokerage firm The week featured five trading sessions as usual Of them first session saw marginal correction while last four closed higher Week-on-week DSEX the prime index of the Dhaka Stock Exchange (DSE) jacked up by 9454 points or 155 per cent to finish at 6193 The two other indices -- the DS30 index and the DSE Shariah Index (DSES) - also closed higher at 2244 and 1341 points

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Both the indices added 4264 points and 1218 points respectively During the week banking pharmaceuticals and telecommunication sector stocks contributed more to keep the market up commented City Bank Capital Resources a merchant bank in its weekly analysis The port city bourse Chittagong Stock Exchange (CSE) also ended higher The CSCX advanced 180 points or 156 per cent to finish at 11618 International Leasing Securities a stockbroker noted that the market observed an upbeat vibe throughout the week riding on the news of soaring of net foreign investment in the capital market in the first 10 months of 2017 compared to the same period of last year Net position of foreign portfolio with the DSE stood at Tk 1623 billion in January-October compared to Tk 80 billion in the same period a year ago However some investors were reshuffling their portfolios after observing the year-end corporate declarations and first quarter earning disclosures the stockbroker added According to EBL Securities The market witnessed an upbeat tune throughout the week riding on regained confidence among the market participants The stockbroker noted that preferable year-end and quarter-end earnings declarations by several companies helped them to remain positive about market The total turnover for the week amounted to Tk 3591 billion on the DSE which was Tk 3027 billion in the week before The daily turnover averaged Tk 718 billion which was nearly 19 per cent higher than the previous weeks average of Tk 605 billion Block trade accounted for 16 per cent of the total weekly turnover where stocks like BATBC Beximco Pharma Shahjalal Islami Bank Square Pharma and Singer Bangladesh dominated the block trade board Banking sector kept its dominance over the turnover chart grabbing 35 per cent of the weeks total transaction followed by engineering with 18 per cent and pharmaceuticals 11 per cent Out of 336 issues traded 207 closed lower 116 ended higher and 13 issues remained unchanged on the DSE trading floor during the week The market capitalisation of the DSE rose 137 per cent as it was Tk 4123 billion on the opening day of the week and it stood at Tk 4179 billion on closing day of the week City Bank topped the weeks turnover chart with 5390 million shares worth Tk 184 billion changing hands followed by IFAD Autos with Tk 121 billion Brac Bank Tk 10 billion LankaBangla Finance Tk 994 million and Dhaka Bank Tk 926 million Reckitt Benckiser was the weeks best performer posting a gain of 1925 per cent while Stylecraft was the weeks worst loser slumping by 3322 per cent A new issue - Oimex Electrode-- made debut last week and soared 1042 per cent from its offer price of Tk 10 in the first trading day on Monday Source httptodaythefinancialexpresscombdstock-corporatestocks-nudge-higher-as-bank-telecom-issues-surge-1510332934date=11-11-2017

BANGLADESH GROWING AS DENIM HUB The growing global demand for fashionable denim wear encouraged both local and foreign entrepreneurs to make fresh investment in Bangladesh participants and organisers of Bangladesh Denim Expo have said Many of the 30 local denim mills are going for expansion while a couple more will come into operation with fresh investment within next two or three years they said Some foreign companies are opening offices or setting up factories in Bangladesh they added The seventh edition of the two-day Bangladesh Denim Expo was held in the city recently with the theme transparency to highlight the need for transparency in the entire denim supply chain

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A total of 65 exhibitors from 12 countries participated in the show while more than 12 thousand visitors from across the world registered online to attend the two-day expo organisers said Talking to the FE on the sidelines of the expo Md Khalid Mosharof assistant general manager at Dekko Group said the group invested Tk 15 million in setting up a new factory of 44 lines at Ashulia that would go for denim item production in June next The main reason is to tap the growing global demand he said Echoing him Syeed Ahmed Chowdhury general manager operation at Square Denim said the company expanded its denim fabric production capacity to 30 million yards from the existing 15 million yards per month mainly to meet the demand He however opined that the expansion is taking place more in garment segments than in fabric production There is no alternative to expansion to sustain the existing business and achieve the $50 billion garment export earnings target by 2021 Sharif Zahir managing director of Ananta Group said stressing the need for positive branding of the sector Meanwhile Landes a German denim accessories maker started production in its new factory at Savar from this month It invested US $05 million We opened the factory in Bangladesh as we think this is the hub for denim business and there is a lot of business prospects here Manfred Slowik chief operating officer of Landes told the FE at his stall at the expo By the end of next year the total workforce in our new plant will be 120 people as we are recruiting new people from existing 30 Mr Slowik said Landes has a target to produce 500 million pieces of leather patches used in denim trousers as accessories in a year at its Savar plant from where such accessories will be supplied to the whole Asian region Many big brands like HampM VF and Walmart are their customers he said Nezahat Boni senior account manager of Orta a Turkish denim maker said her company supplies 30 million metres of denim fabrics in Bangladesh in a year against only 800 meters in 2011 We opened an office in Bangladesh in 2011 as we cannot ignore the importance of this country as a denim hub she said Prosperity Textile a Chinese company opened its office in Dhaka last year said Md Mujibul Hoque the companys Bangladesh Sales Director The company has targeted sale of 100 million yards a year across the globe while it also targets 30-40 per cent of their sales in Bangladesh Bangladesh is now the top denim products supplier to the European Union overtaking China and third largest to the US after China and Mexico industry people said Bangladesh supplies denim products to major global buyers and retailers including levis G-Star Raw HampM Tesco Wrangler Hugo Boss Walmart and Gap Source httptodaythefinancialexpresscombdtrade-marketbangladesh-growing-as-denim-hub-1510332061date=11-11-2017

EXPORTS UP 70PC IN JULY-OCTOBER Countrys export earnings grew by 703 per cent to US$1150 billion during first four months of the current fiscal year (FY 2017-18) according to official data released Thursday The earnings were $1079 billion in the same period (July-October) last FY In October 2017 the exports grew by 642 per cent to $284 billion the Export Promotion Bureau (EPB) data showed The overall exports in the first four months slightly (074 per cent) fell short of the periods target In October however the exports were 628 per cent higher than the months strategic target Readymade garment shipments fetched $943 billion marking 699 per cent growth during the period as compared to $882 billion in the same period of last FY

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The woven items registered 385 per cent growth in earnings to $445 billion than that of $428 billion in the same period of FY 2016-17 The earnings from knitwear export during the period grew by 995 per cent to $498 billion from $453 billion in the corresponding period of last FY Jute and jute goods exports rose by 1646 per cent to $34501 million from $29626 million in the same period of FY17 The earnings from agriculture products grew by 2022 per cent during the period while home textiles by 2037 per cent The earnings from leather and leather products however fell marginally by 002 per cent to $42844 million during the period than that of $42851 million in the same period last FY The export earnings from frozen food and live fish grew by 1541 per cent to $22691 million from $19661 million of the corresponding period of last fiscal Mahmud Hasan Khan vice president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) said the exports in the first four months of the current fiscal year fell short of the expected growth mainly because of failure in maintaining the lead time and short supply of gas and electricity Terming the knitwears growth satisfactory he said woven items manufacturers have been struggling to cope with the new challenge as buyers were reducing the volume of orders due to failure in meeting the lead time Without efficient port and strong backward linkage industry especially for the woven sub-sector it will be difficult for the sub-sector to bounce back he feared He pointed out that maximum of the woven fabric requirements were being met through imports But it was taking too much time to clear the imported fabrics and additional charges as a result at the Chittagong seaport that was facing unbearable congestion The government should provide necessary policy support to the exporters to establish strong backward linkage industry for the woven sub-sector he added Source httptodaythefinancialexpresscombdfirst-pageexports-up-70pc-in-july-october-1510248870date=10-11-2017

GAS CRISIS HURTING OUTPUT IN INDUSTRIAL BELT Factories in the countrys Tongi-Gazipur industrial belt have been facing acute gas crisis over the past few months following diversion of gas to upstream power plants The crisis has deteriorated further this week albeit some improvements for a few days last week said local industrialists and businessmen According to them if the ongoing gas crisis persists they may be forced to shut down their factories Officials of the Titas Gas Transmission and Distribution Company Limited (TGTDCL) however blamed the Petrobangla for the gas crunch Sources concerned say the industrial belt of Tongi-Gazipur is suffering badly for about four to five months from low pressure of gas coupled with poor electricity voltage -- often resulting in huge volume of industrial wastages and reduction of production efficiency According to the industry insiders a factory in the industrial belt requires 04 PSI (production per square inch) as optimum gas pressure but the pressure at times comes down to as low as 01 PSI these days -- especially during the daytime Gas pressure in the area becomes normal around 10pm11pm and stays for not more than 08 hours until 6am7am an entrepreneur of the industrial belt informed Asked an official of Titas said they are at present getting nearly 250 million cubic meters (MCM) less in recent weeks against their current demand of 1800 MCM gas in Titas franchise The downstream Titas franchise area covers greater Dhaka region which includes Gazipur alongside some other adjoining districts and greater Mymensingh he said

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A Petrobangla source however cited gas supply on priority basis to a number of upstream projects including power plants as reason behind supply shortage When asked Managing Director of Akij Group Sk Bashir Uddin termed the situation really worrisome According to him two of Akij Group companies situated in the area -- Akij Printing amp Packages Limited and Dhaka Tobacco Industries -- jointly contributed nearly Tk 35 billion (3500 crore) to the national exchequer in the 2016-17 fiscal year But were very much worried about our industrial output this year as production disruption following the twin crises involving gas supply and power supply Both will eventually disrupt our retail business in every phase he quipped This often results in a high rate of industrial wastage and reduction of production efficiency he added Bangladesh Auto Re-rolling Steel Mills amp Association Chairman Manwar Hossain who is also Anwar Group Managing Director echoed the same concern Factories in the industrial belt are now operating at one-third of their capacity which may lead to labour unrest and default of huge sum of bank loans he said Such disruption of production he cautions may even cause sudden shutdown of factories According to him none of the victims in that case will be the wilful defaulters -- they will be the victims of circumstances The businessman who has a steel factory called Anwar Ispat Limited in the industrial belt called for immediate introduction of ECM (electronically controlled meters) to check unabated gas engineering in the area which he deems to be yet another reason for gas supply crunch Titas officials according to him are encouraging co-generation scheme to help address the severe gas crisis But he said co-generation will require stable and smooth gas supply Government should ensure at least 10-15 years of smooth gas supply to encourage co-generation as what he said any industrial investment requires 20 years of payback period TGTDCL Deputy Managing Director Engineer Abdul Wahab Talukdar who is also the Project Director of Sripur-Joydevpur Transmission Pipeline Project said We cannot do anything to address the crisis if there is a lack of adequate gas supply Mentioning that all factories in the industrial belt are like my babies he unequivocally said Titas is not at fault He also admitted that priority-based power plants gas supply being the reason behind the current spell of gas crunch We have already started introducing electronic volumetric corrector (EVC) to stop illegal gas use in the area he said Factories he added should go for co-generation scheme for protecting their own interest Co-generation means utilising and absorbing heat generated from gas generators which Mr Wahab said will save energy A section of the businessmen however called for stopping fertiliser production and distributing the same among people at a subsidised price after importing it to facilitate smooth supply of gas to other industries Even if the government stops fertiliser production and opts for importing it for distribution at a subsidised rate there will only be an insignificant loss compared to the overall losses now being incurred said an industrialist who has more than one factory in the industrial belt Local sources said illegal and unapproved gas connections in various industries in and around the zone are also affecting gas supply badly among other reasons Source httptodaythefinancialexpresscombdfirst-pagegas-crisis-hurting-output-in-industrial-belt-1510249018date=10-11-2017

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SINGLE PERSON MAY FORM COMPANY A single person may form a commercial firm under a provision of the companies law being updated along with some other major business-stimulating measures Official sources said the government is considering incorporating some new provisions including one allowing individuals to form any company into the updated Companies Act The other provisions are formation of an appellate tribunal to resolve legal matters without wasting much time widespread automation of companies work and submission of annual company reports online Earlier the Ministry of Commerce (MoC) had received some recommendations from the stakeholders on how to update the law they added We got most of the recommendations from the stakeholders We hope we will be able to prepare the draft Companies Act within a month Md Obaidul Azam director trade organisations (DTO) told the FE He said the recommendations the ministry had received so far were being scrutinised before preparing a draft for updating the companies act Earlier different trade bodies had sent their respective recommendations to the MoC for incorporation into the law The MoC will hold a meeting with the countrys apex trade body after assessing the recommendations and suggestions the ministry official said Talking to the FE a leader of an influential trade body said they had sent some recommendationssuggestions to the MoC for the new Companies Act for betterment of the countrys trade and business According to Section 2 (1) (c) of the Companies Act 1994 Company means a company formed and registered under this Act or an existing company Thus a company is an association of persons formed under the Companies Act 1994 with a view to achieving some common objectives Though a company is regarded a legal person it possesses similar rights and owes similar obligations like a natural person Now any individual fulfilling the new criteria may be allowed to form a firm Source httptodaythefinancialexpresscombdfirst-pagesingle-person-may-form-company-1510249090date=10-11-2017

DSE TURNOVER CROSSES TK 80 BILLION MARK The daily turnover on Dhaka Stock Exchange (DSE) exceeded the Tk 80 billion mark on Thursday as investors took fresh exposure to the banking sector Turnover a crucial indicator of the market reached Tk 870 billion on the countrys premier bourse jumping 14 per cent from the previous days transaction of Tk 765 billion It was the biggest single-day transaction since October 11 when the turnover totalled a record Tk 1092 billion Along with rising turnover DSEX the prime index of the Dhaka bourse continued to keep its gaining momentum closing 3449 points higher at 6193 points DSEX which replaced the DGEN in nearly five years back added more than 121 points or 20 per cent in the past four consecutive sessions The two other indices -- the DS30 index and the DSE Shariah Index (DSES) -- also followed suit to end at 2244 and 1341 points after gaining 1422 points and 443 points respectively Brokers said the market maintained the bullish trend for the four straight sessions as the enthusiastic investors chased the banking sector stocks The market continued the bullish trend for the four consecutive sessions as the enthusiastic investors were active for the banking food and engineering sector stocks commented EBL Securities a stockbroker in its regular market analysis

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It noted that the core index remained positive throughout the session as optimistic investors kept buying sector-wise stocks while some rebalanced their portfolios Meanwhile share price of newly listed Oimex Electrode continued to decline for the three consecutive sessions after unusual hike during its debut trading on Monday The companys share price fell 763 per cent to close at Tk 9810 on Thursday after jumping more than tenfold during the debut trading which experts termed unusual Block trade contributed Tk 241 million to the days total turnover with stocks like BATBC Square Pharmaceuticals Singer Bangladesh and Beximco Pharma dominating the block trade board Among the major sectors pharmaceuticals posted the highest gain of 122 per cent followed by banking sector (083 per cent) food amp allied (067 per cent) engineering (033 per cent) financial institutions (003 per cent) and power (003 per cent) Only telecommunication sector faced a 045 per cent correction A total number of 0140 million trades were executed in the days trading session with trading volume totalling 23171 million securities The total market capitalisation of the DSE stood at Tk 4179 billion against Tk 4168 billion in the previous session Losers however took a modest lead over the gainers as out of 325 issues traded 140 closed lower 130 closed higher and 55 remained unchanged on the DSE trading floor City Bank dominated the turnover chart for the second day in a row with 1035 million shares changing hands closely followed by Dhaka Bank LankaBangla Finance Brac Bank and Keya Cosmetics Reckitt Benckiser was also the days best performer posting a gain of 624 per cent while Qasem Drycells was the days biggest loser shedding 1235 per cent The port city bourse Chittagong Stock Exchange (CSE) also ended higher with its Selective Categories Index -- CSCX --gaining more than 62 points to close at 11618 Losers beat gainers as 113 issues closed lower 97 closed higher and 37 remained unchanged on the CSE The port city bourse traded 1604 million shares and mutual fund units generating a turnover of Tk 483 million Source httptodaythefinancialexpresscombdstock-corporatedse-turnover-crosses-tk-80-billion-mark-1510245247date=10-11-2017

TEN COS GRAB 32PC TURNOVER ON DSE The banking sector continued to dominate the transaction chart of the Dhaka Stock Exchange (DSE) accounting for 39 per cent of the total turnover on Thursday Four banks made their way to the top 10 turnover chart with City Bank leading the chart for the second day in a row Brokers said the investors chased the banking sector issues as more than 63 per cent of listed banks showed positive earnings in the third quarter (July-September period) Meanwhile top 10 traded companies including four banks grabbed more than 32 per cent of turnover on the Dhaka bourse The total turnover on the premier bourse reached Tk 870 billion up 14 per cent from the previous days Tk 765 billion The most active shares in terms of value included City Bank Dhaka Bank LankaBangla Finance Brac Bank Keya Cosmetics Square Pharmaceuticals Beximco Pharmaceuticals IFAD Autos Exim Bank and IDLC Finance According to statistics available with the DSE about 1035 million shares of City Bank were traded generating a turnover of Tk 553 million or 635 per cent of the total transactions

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The companys share price hovered between Tk 5240 and Tk 5440 before closing at Tk 5390 advancing 228 per cent over the previous session Dhaka Bank came in next with shares of Tk 395 million changing hands contributing 454 per cent to the total turnover The banks share price closed 347 per cent higher at Tk 2380 LankaBangla notched the third spot with shares of Tk 266 million changing hands making up 305 per cent of the total turnover Its share price ended 063 per cent higher at Tk 6430 Brac Bank emerged the fourth with shares of Tk 257 million changing hands grabbing 295 per cent of the total turnover The banks share price settled 123 per cent higher at Tk 107 Keya Cosmetics featured a turnover of Tk 247 million or 284 per cent of the total turnover Its share price closed 201 per cent higher at Tk 1520 The turnover of Square Pharma was Tk 241 million or 276 per cent of the total transaction Its share price ended 612 per cent down at Tk 27890 Beximco Pharma featured a turnover of Tk 211 million or 242 per cent of the total turnover Its share price advanced 428 per cent to close at Tk 10960 The turnover of IFAD was Tk 208 million accounting for 238 per cent of the total turnover Its share price closed at Tk 14070 gaining 195 per cent Exim Bank featured a turnover of Tk 196 million or 225 per cent of the total transaction The banks share price inched up 055 per cent to close at Tk 1830 IDLC also made its way to the top ten turnover chart with shares of Tk 188 million changing hands Its share price closed 223 per cent higher at Tk 9150 Source httptodaythefinancialexpresscombdstock-corporateten-cos-grab-32pc-turnover-on-dse-1510245290date=10-11-2017

FOREIGN INVESTMENT HIKE INFO DRIVES MODERATE GAINS ON DSE The Dhaka bourse Thursday closed the session posting a moderate rise in the broad index and turnover amid mixed performance displayed by major sectors On the day most of the major sectors declined but the turnover crossed Tk 80 billion-mark after two sessions on Dhaka Stock Exchange (DSE) mainly because of investors increased participation in the banking sector According to a market review of International Leasing Securities positive momentum in some big-cap stocks especially from bank food and engineering sectors helped the bourse to close in green The market started the session with a positive note and the DSE broad index DSEX witnessed little ups and downs before closing higher According to AT Capital Partners the market remained sideways till the midsession The DSEX rose again in the second half of the session and closed at 61936 up by 345 points The shariah based index DSES and blue chip index DS30 also rose marginally The turnover stood at above Tk 870 billion which was 1370 per cent higher than the turnover of the previous session The confident drive was initiated by the investors buying spree riding on the news of doubling net foreign investment in stocks year-on-year in the first ten months of 2017 said the International Leasing SecuritiesAmong the gaining sectors bank advanced 08 per cent and engineering 03 per cent Of the losing sectors pharmaceuticals amp chemicals declined 11 per cent telecommunication 05 per cent and textiles 09 per cent The banking sector grabbed 384 per cent of the market turnover at the premier bourse DSECity Bank topped the turnover chart with a value of Tk 553 million followed by Dhaka Bank LankaBangla Finance BRAC Bank and Keya CosmeticsReckitt Benckiser (Bd) limited topped the gainers chart with a rise of 624 per cent to close at Tk 18456 while Quasem Drycells was the worst loser after declining 1235 per cent to close at Tk 8230 Source httptodaythefinancialexpresscombdstock-corporateforeign-investment-hike-info-drives-moderate-gains-on-dse-1510245365date=10-11-2017

Daily News Flash 12th November 2017

35

MORE JAPANESE COMPANIES SEEK TO INVEST IN BANGLADESH Japanese Ambassador to Bangladesh Hiroyasu Izumi has said the Japanese investors are keen to invest in Bangladesh considering the lucrative offer and ideal atmosphere for foreign investment reports BSS The Japanese investors expressed more interest to invest in Bangladesh at recently-held the third round of Public-Private Economic Dialogue between Bangladesh and Japan he said while visiting the Chittagong Export Processing Zone (CEPZ) on Thursday The envoy expressed the hopes that Japanese investment in the Export Processing Zones (EPZs) will increase after the successful dialogue said a press release More and more Japanese companies will come to invest in this country he added General Manager of CEPZ Khorshid Alam maed a PowerPoint presentation highlighting the overall scenario of EPZ as well as Bangladesh Export Processing Zone Authority (BEPZA) Mentioning Bangladesh EPZs as the Bonanza for Investors he said investors from 38 countries have set up industries in the EPZs and invested US $442 billion He informed the ambassador that BEPZA has ensured three layer security system including 24-hour CCTV surveillance in the key points of EPZ and factory premises for the safety of the investors Source httptodaythefinancialexpresscombdtrade-marketmore-japanese-companies-seek-to-invest-in-bangladesh-1510250285date=10-11-2017

Source httpwwwarthosuchakcomarchives388209

১৬০

১১৫ ৪ ৫ ১০ ২০

৩০ ( )

( )

৩০ ২০১৭ ১৫

৩ ও ১২

২ ১৪ ( ) ৩৪

২৪

Source httpwwwarthosuchakcomarchives388257

Daily News Flash 12th November 2017

36

৫৩ ( ) ১৫ ও ২

১ ১ ৪৩ ২১০ ৫৩ ৪৪

৩২ ৫০

৮ ৫৮

২০

১ ২৪

৯ ২৭ ৫৫৫ ৯ ৩৮

-

Source httpwwwarthosuchakcomarchives388125

৩৫ ( ) ৩৫

২৪৫ ৩

১৭ ১১৯ ২১

ও - ১১

৯ ৬ - ৫ ৪

- ও ২

ও ১

Source httpwwwarthosuchakcomarchives388085

- ফ ৪০ ও - ৪০

৬ ( ) ৫ ৯ ৫ ৪৯২ ১১

৫৬ ৪৫১ ২৯

১২ ( ও)

( )

-

- ১০

( ও) ৮০

৪৯ ৩৭ ৯৮

ও ১৭ ১২ ঋ ও

১০ ও ৩ ১০

৩০ ২০১৬ ৩৫ ৬৩

৫ ( ) ৩ ৪৯

Daily News Flash 12th November 2017

37

Source httpwwwarthosuchakcomarchives387762

lsquo rsquo

( )

lsquo - rsquo

( ) ও

২০০২ ( ২ )

৫৪৬

ও ১৫

ও ১৫ ৭৫ ও

১০-১২ ১

১৫৫ ৬৭

ও ২০১০

ও ও ও -

ঋ ঋ

১৫ ৪ ৩

২ ২ ৪ ১৫ ৬

( )

Source httpwwwarthosuchakcomarchives388276

- ও ও

Daily News Flash 12th November 2017

38

৩৮ ও ৪৩

১০০ ৬১ ৫৮ ২২৫ ১ ০৫

Source httpwwwarthosuchakcomarchives387849

- ও ( -২)

৬ ও

ও ৫ ৩০০

ও ও

৭ ২০০

( ও )

ও ও

ও ও

২ - ও mdashlsquo

rsquo ও

-

৫ ৩০০

- ১০ - ৪২৯ -

৩২৮

- ১০

( )

২০১৪

( ও) ও ( )

( )

২ ও ও

ও ও ও

ও ২০১১- ও

ও ( )

Daily News Flash 12th November 2017

39

(১০ ) ৫ ৭৬৩

৬৩ ও

ও ( )

- ২০১৪ ও

ও ও

Source httpwwwprothom-alocomeconomyarticle1362971

ও ও

ও - ও

২০১৬-১৭ ২০ ও

ও ও lsquo rsquo

ও ১০ ও

৭৭ ২০১৭

১৬ ২৭ ও

২০১৬-২০১৭ ২০ lsquo rsquo

ও-

ও ও ও

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564382

ফ ( ও) ১১

ও ও

ও lsquo১১ ও rsquo

১০ ১৩

( ) ( )

Daily News Flash 12th November 2017

40

- ও

-

( )

( )

lsquo ও

rsquo ও

২৬ ১০

১৬

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564383

১ ৫০

ও ২০৫০

২৩

১৬ ৫৯ ২০১১

২০৩০

( )

ঋ ও ও

৬৮ ৬৭

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564384

ফ lsquo

ও ও

( ) ও

- ও

( ও ) ( )

Daily News Flash 12th November 2017

41

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564388

৪৫ ও

৮৪ ৮৩

৯২০

২৭ ২৪ ৭ ৩

৬ ৮৯

৯ ১ ৭২ ১৪ ৪৮

৪৫

ও ১৭ ৫০

১৯৩ ১০ ২০১৫-১৬ ৪১৩ ১০ ও ও

২০১৪-১৫ ৩৭৫ ৮০ ৩৫ ৭০

২০১৩-১৪ ৫১৫ ও

৮১ ২ ৫১ ৩ ২০

২ ও

৮৪

৮১

- ও

৮৩

৮২ ৯৫

ও ও - ও

ও ও ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17112200 - - - -

ও ৫০

ও ( ) ( )

ও ও

Daily News Flash 12th November 2017

42

ও ও

১০০

৮ ও

৩০০ ( )

ও ১৫০

২০০ ১০০

২০০

২৭ ৭

ও ও

ও ৩০ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111811 - - - -

-

২৭ ১১

১০

( ) ২৮৪

৬ ২৮ ৭ ১৫১

৭৪

ও - ও

ও - ও

ও ৩

৭ ১ ২৩

৯৪৪ ৮৮২ ১০

ও ৪ ৭ ও

৪ ৩৮ ও ১৫ ৪১ ২২ ৭০

২০ ৩৬ ১৩ ও

৪৬ ২২ ২০ ও

১৭ ৩৭১ ও ও

১৭ ও ৪৩ ও

Daily News Flash 12th November 2017

43

৬ ২০ ও ১৬

৩৫ ২০ ২৭

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111810 - - - - -

ও ও

১৩০ ও ১৪০

৫৫ ও ৯৭ ১১৩

৩৭

৩৪

৬১৯৩ ৬২ ১১৬১৭

৩০ ১৯

ও ও

ও - ও

৪৮ ৩১

১২ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111808 - - - - -

৩৫ ও ১০

ও ( ) ও

১০

ও ও -

২ ৩০০

২০১৪ ও

ও ৭ ২০১৪ ও ২০১৫

৫ ৭ ও ১২ ৮ ২৩

২০১৩ ১ ৪২০ ২০১৪ ১০ ৫ ১ ৫৭০

১৩ ৪ ও ১ ৩৫৮ ১০

২০১৬ ও ৩ ৫ ১ ৩১০ ২০১৪

২০১৬ mdash ২ ১ ঋ

১০ ও ২০১৩

২৯ ৮০ ২০১৪ ৫ ৭ ৩১ ৫০ ২০১৫

১২ ৩৫ ৩০ ২০১৬ ৭ ৩৭ ৮০

Daily News Flash 12th November 2017

44

২০১৪ ২০১৬

৩২ ৩৫ ও ৫০ ১৯

৫৬

১৭ ৪৬ ২০১৪ ২০১৬

৭২ ১০০ ও ১১১

২০১৪ ২০১৬ ১৫ ৬৩

৯১ ১১৪ ও ১১৮ ৮ ২৩

৮০ ৯০ ও

ও -

ও -

ও ও ও

১০ ও

১০ ও ২২

৭১ ১২ ৪২

৩২ ২৬ ও

ও ও

( ) ও

ও ২০২১ ও ও

৫ ১ ১৬

ও ও

Source httpbonikbartanetbanglanews2017-11-12137992 - - -- -

৫০০ ৫০০ ও

ও ৩০ ২০১৭

৫০০ ও ঋ ২০১৮

৩০

১ ২০ ও ১৫০

১১

Daily News Flash 12th November 2017

45

৩০০ ৬০০

( ) ও

১ ২৫ ও ১০

১০ ও

ঋ ও

৩০ ২০১৭ ৩ ও ১২ ও

( ) ২ ১৪ ২ ১

ও ৩০ ১১

( ) ও ও

( - ) ৬৬ ৫৫ ৩০

( ) ৩৪ ৯০

ও ও ও

( ) ও

ও ও ২০১৫ ৩০ ১০ ২০১৬

১২

( ) ৪১ ২০ ও ২৩ ৬০

৫০ ও

২০১৪ ৩০০ ও ১৪৮ ৪৬ ৫০

১৯১ ৬২ ৩৭ ৩১

১২ ৪৫ ৫০ ২৪

ও ( ) ১৬ ৫৩

ও ১৫ ২২

Source httpbonikbartanetbanglanews2017-11-12137966৫০০- - - - -ও -

৬৩

- ও ও

৬২ ৯৪ ৫

৬২

৯০

২০১৪ - -

- ও

২০১৬-১৭ ৫ ৬২ ও ২০১৩-১৪

১২

( ) ৯০

-

ও - - ও -

Daily News Flash 12th November 2017

46

- ও

৬২ ৯৪

২০১৩-১৪ ৭০ ৭৮ ২০১৪-১৫ ৫৪ ২২

২০১৫-১৬ ৩৯ ৩৩ ও ২৬ ২৩

ও ২০১৩-১৪

১২ ৩৬ ২০১৪-১৫ ৫ ৯১ ও ২০১৫-

১৬ ১৭ ৩০ ৫ ৬২

৩০ ২০১৭ ১০

২ ৮৬ ও ৩

ও ২৪ ( )

২৭

১৯৬৪ ১২

৪ ও ও ১৯৭২

ও ( )

ও ৩৪ ৮ ও

৯০

৪৫ ও ৫

১৯৬৪ ১৯৭২ ১৯৮৯

১০০ ও ২৬ ১৬ ২০ ৫৪৩ ৭৭

৫ - ৫১ ১৫ ৬০ ও

৩২ ৯০

Source httpbonikbartanetbanglanews2017-11-11137853 - - - - - -৬৩---

( ) ও

১০

ও ও ও

-

ও ও

ও ঋ ও

ও ২০১৪ ও

ও ও

২০১৩

( ) ও

Daily News Flash 12th November 2017

47

২০১৪

২০১৪-১৬ ও

২০১৪

ও ২০১৪

২০১৫ ২৭ lsquo ও rsquo

ও ও

২০১৬ ২৪

( )

ও ও

- ও

ও ও ১৯৮৩ ২০১৬

ঋ ( ) ৫৬০

৮৬৪

২০১৬ ২০১৯ ও

ও ১৫ ২৫ ৩০ ও ৩০

ও ঋ ও

২০১৬ ঋ ১

৩৪২ ঋ ৬ ৫২ ১২৩

ঋ ২ ৪৪৩ ঋ ১০

৮৪ ঋ ৪০

৭২৬

ও ২০১৬ ৭৪১

৪৫৭

২০৭ ২৪৪

১০ ও

ও ও ও ও ও

Daily News Flash 12th November 2017

48

Source httpbonikbartanetbanglanews2017-11-12137998 - - - - - ও- -

( )

৩০ ২০১৭ ২০

( ) ২ ১ ১ ৫৯ (

) ৩০ ( ) ১৫ ৩৭

ও ২৮ ১১

( ) ২৮

২০১৬ ৩০ ১৮ ২০

২০১৪ ও ২০

১৫ ৩০

১৮ ৮০ ও ৯ ৬০

Source httpbonikbartanetbanglanews2017-11-11137850 - - - -

ফ ৭ ২০১৭-১৮ ৭ ৩ ৭৪

( ) ও

( - ) ১ ১৫০ ৫৮

(২০১৬-১৭) ১ ৭৫ ৩ ৬০ ৭

৩ ১ ১৫৯ ২০ ৭৪

ও mdash

৬ ৬৫ ১৭ ৬৩

mdash ও ও

১৫ ৪১ ২২ ৬৯ ১০

১৯ ৬৬ ১০ ২০ ২২

mdash ও ও ও

৩৯ ৫১ ও ২ ও

১৬ ৪৬ ও ও ৬ ৯৯ ও

৩ ৮৫ ৯ ৯৫

১৯ ৮২

৮০

ও ( )

mdash

Daily News Flash 12th November 2017

49

ও ও

Source httpbonikbartanetbanglanews2017-11-10137755 - - - -৭- - --

ফ - ফ ও -ও

-ও

-ও

২৯-১০-২০১১ ৩ ( ) ২৮-১০-২০১৪

৩ ( ) ২৮-১১-২০১৬

২৮-১০-২০১৭ ৩ ( )

২০১৬-১৫৮১৩৪ ৪৪ ০৭-০৮-

২০১২ ১২(৬) ২ ( ) ৬ ( )

-ও - ও ২ ( )

৬ ( ) ও ও

-ও ৩ ( )

-

ও ও

১৯৯৪

২ ২২-০৫-২০১২ -ও ৩

- -

১৯৯৪

-ও

- ও

( )

১৯৯৪

১৯৯৪ -ও

Source httpwwwsharenews24comindexphppage=detailsampnc=1ampnews_id=6587

Daily News Flash 12th November 2017

50

ফ ফ

১৫ ও

-( ) ও

৪৯

১৬ ৮৫

৫১ ৪৯

৪ ৩৬

১৯১৩

১০০ ও ১৯০১ ১৯৬০

Source httpswwwdailystockbangladeshcom - - - -

- ( -১)

( ) ৮

৩০০ ও

( ) ১৬

- ২২৮ ৪৯ ১৮৩ ২০১৮

( ) ও

১৫০

( ) ও ৪০ ৩০

ও ও

ও ও

Source httpswwwdailystockbangladeshcom - - -

Page 13: Daily News Flash, 12th November, 2017 -  · PDF filebanglalink's revenue falls 4.57pc in q3 ... banks lack remedial strategy while npl rises worryingly

Daily News Flash 12th November 2017

13

He said the government is cutting various policy supports including cash incentive for the garment sector ldquoBut it is not the right time to discontinue the incentivesrdquo The businessman urged the government to continue its support so that the garment sector can maintain its growth momentum Mustafizur Rahman a distinguished fellow of the Centre for Policy Dialogue said intra-garment diversification needs to continue to boost exports He said the exchange rate should be kept at the level that helps exporters The economist said pharmaceutical leather and light engineering sectors have huge opportunities to contribute to exports if they receive supports Allah Malik Kazemi change management adviser to the Bangladesh Bank said the global slowdown has affected the exporters He said the central bank keeps the interest of exporters in mind while managing the foreign exchange market Md Nojibur Rahman chairman of the National Board of Revenue said there is political commitment from the government to stand by exporters He emphasised export diversification saying the NBR also has a role to play by way of supporting small sectors Kazi M Aminul Islam executive chairman of the Bangladesh Investment Development Authority said the government would have to put more emphasis on agriculture and manufacturing sectors to diversify exports He said the garment sector grew fast riding on the policy support provided by the government in areas such as bonded warehouse exchange rate and incentives ldquoOther promising sectors should be provided the same policy support so that they can growrdquo he said Mohammad A Razzaque project leader of the BEI said it is stated that the non-garment exports will not grow because of the policy support provided to the garment sector He disagreed with the argument saying promoting export diversification and maintaining the garment sector dynamism must go hand in hand BEI President Farooq Sobhan also spoke Source httpwwwthedailystarnetbusinesspolicy-support-needed-diversify-exports-analysts-1489081

DIGITAL HUNDI SHRINKS REMITTANCE FLOW THROUGH BANKS BIBM Hundi traders have been fast transferring remittance to relatives of expatriate Bangladeshis through mobile services which have resulted in a fall in the amount of money sent through banking channels This was reflected in a research report by the Bangladesh Institute of Bank Management (BIBM) The report titled ldquoIncreasing flow of remittance through banking channel Bangladesh contextrdquo was placed at a seminar at the BIBM auditorium yesterday A six-member team led by BIBM Director Shah Md Ahsan Habib prepared the report According to the report remittance flow decreased in recent times all over the world but the fall in Bangladesh was more as it accounted for a considerably high amount of remittance generated in total The report identified several reasons for which remittance was plunging including bank branches being distant from the houses of remitters relatives The report also mentioned a lack of good behaviour on the part of bankers requirement of various documents and weekly holidays as causes BIBM Supernumerary Professor Yasin Ali said the scope of mobile banking has much increased in the last five year but banks have failed to utilise the channel He said banks have to provide remitters the opportunities which were offered by unofficial channels otherwise inflow of remittance through the banking channel would plummet

Daily News Flash 12th November 2017

14

Another BIBM Supernumerary Professor Helal Ahmed Chowdhury said the cost of sending remittance through banking channels was higher the effect of which was falling on remittance inflow Chowdhury said an initiative has to be taken to slash the cost of transferring remittance to increase the inflow through banking channels SK Sur Chowdhury deputy governor of Bangladesh Bank said remittance flow to Bangladesh declined by 1110 percent in 2016 due to lower oil prices and fiscal policy tightening in the Gulf Cooperation Council countries It is hoped that awareness programmes would encourage non-resident Bangladeshis to come forward to know the importance of channeling their money through banks he said Chowdhury also said to ease the flow in the formal channel Bangladesh Bank has reduced the security deposit requirement for exchange houses abroad to establish drawing arrangements with local banks In addition to their own bank branches and ATM booths banks are now using the branch networks of microfinance institutions and post offices as sub agents for remittance distribution Remittances are also distributed through agent banking such as that provided through Singer Bangladesh Limited outlets he said Furthermore Bangladesh Bank has established a separate ldquoFinancial Integrity and Customer Interest Protection Departmentrdquo to handle complaints and suggestions of customers or stakeholders at home and abroad to ensure smooth and hassle free services The ldquo16236rdquo hotline is to address customers hassles if any He said at the moment no bank can take more than two days in reaching remittance to designated beneficiaries Source httpwwwthedailystarnetbusinessdigital-hundi-shrinks-remittance-flow-through-banks-bibm-1489075

JOINT VENTURE TO PRODUCE 600MW IN MATARBARI

A joint venture between Japans Mitsui amp Co and a state-run Bangladeshi company is going to set up a liquefied natural gas-based power plant at Matarbari in Maheshkhali upazila to produce 600 megawatts of electricity Coal Power Generation Company Bangladesh Ltd yesterday signed a primary agreement with Mitsui amp Co to this effect in Dhaka on Wednesday according to a statement of the power and energy ministry The companies will have 50-50 ownership in the joint venture that will complete the project by 2021 The government has taken initiatives to import a huge amount of LNG from next year Both land-based and floating LNG terminals will be set up The government has approved two floating LNG terminals each of which will supply 500 million cubic feet of gas per day In July state-run Petrobangla and US-based Excelerate Energy signed the final deals to set up Bangladeshs first LNG terminal in Maheshkhali which will supply gas to the national grid from early 2018 The government also awarded Summit Group the work to set up the countrys first floating LNG terminal also in Maheshkhali This one is due for commissioning by next October Source httpwwwthedailystarnetbusinessjoint-venture-produce-600mw-matarbari-1489069

Daily News Flash 12th November 2017

15

EXPORTS TO EU STATES BUT GERMANY POST ENCOURAGING GROWTH

Bangladeshrsquos export earnings from European countries except Germany registered a significant growth in the July-October period of this financial year 2017-18 riding on an excellent performance of readymade garment products According to the Export Promotion Bureau data exports to major European countries registered double digit growth in the four months of FY18 while the RMG export to Germany fell in the period compared with that in the same period of last fiscal year The EPB data showed that Bangladesh suffered a negative export growth in two promising markets mdash Japan and China mdash in the July-October period of FY18 Exporters said that earnings growth in the EU markets increased in recent months as the euro appreciated against the dollar They also said that buyers and brands cut import orders from Bangladesh for their Chinese stores that caused the negative growth Export earnings from the UK the second largest export destination for Bangladesh in the EU grew by 2084 per cent to $134 billion in the four months of FY18 from $111 billion in the same period of FY17 Earnings from apparel products fetched $125 billion with 2227 per cent growth in the period Export earnings from Spain in July-October in FY18 grew by 2581 per cent to $80102 million from $63670 million in the same period of FY17 Export earnings from the Netherlands rose by 3416 per cent to $40108 million in the four months of FY18 Bangladesh earned $58097 million from France with 270 per cent growth and $46374 million from Italy with 1206 per cent growth Exports to Germany the second largest export destination for Bangladesh in the July-October period of FY18 stood at $186 billion the same amount earned in the July-October period of FY17 Anwar-ul-Alam Chowdhury Parvez former president of the Bangladesh Garment Manufacturers and Exporters Association said exports depend on season and the earnings from Germany would increase from November RMG export earnings fell by 039 per cent to $173 billion from $174 billion in the market data showed lsquoWe have to wait to identify the reasons for the stagnancy of growth in the German market Hopefully the export would rebound in the market in the coming monthsrsquo Md Fazlul Haqe former president of the Bangladesh Knitwear Manufacturers and Exporters Association told New Age on Saturday

Daily News Flash 12th November 2017

16

Export earnings from the US the largest destination for Bangladeshrsquos exports in the July-October period of FY18 grew by 228 per cent to $187 billion from $183 billion in the same period of FY17 Apparel export to the market grew by 244 per cent to $168 billion from $164 billion The EPB data showed that the countryrsquos export earnings from Japan in the July-October period of FY18 fell by 394 per cent to $33390 million from $34760 million in the same period of FY17 Export earnings from China in the four months of the FY18 decreased by 2242 per cent to $22475 million from $28971 million in the corresponding period of last fiscal year Parvez said that the domestic consumption in China slightly decreased in recent times and global retailers also cut import orders from Bangladesh for their Chinese stores due to congestions in the Chittagong port lsquoWe are losing many orders from global brands as we have been failing to meet lead time due to the problem in the portrsquo he said Source httpwwwnewagebdnetarticle28200exports-to-eu-states-but-germany-post-encouraging-growth

REHAB LEADERS DEMAND CUT IN TAXES Realtors on Saturday urged the government to cut tax rates at different levels of the housing sector to give a much-needed boost to the sector They also requested the government not to raise question over the source of the minimum paid up capital (Tk 1 crore) a real estate company requires to be a member of the Real Estate and Housing Association of Bangladesh REHAB leaders made the requests at a joint meeting with the National Board of Revenue held in a city hotel on the day NBR chairman Nojibur Rahman attended the meeting as chief guest while REHAB president Alamgir Shamsul Alamin senior vice-president Nurun Nabi Chowdhury Shaon and vice-president Liakat Ali Bhuiyan were also present among others Alamgir said that the REHAB made it mandatory for its member companies to have Tk 1 crore paid up capital and he requested the government not raise question over that money The government earlier made it mandatory for all developer companies to be REHAB members Alamgir also urged the government to form a re-financing fund worth Tk 20000 crore under Bangladesh Bank to provide low-interest and long-term loans to the potential apartment buyers He demanded apartment registration fee to be reduced to 65 per cent from the existing 155 per cent mentioning that other SAARC countries maintained it at 4-7 per cent Alamgir said that the government was losing huge revenue due to the high apartment registration fee as buyers were showing unwillingness to register their apartments at high cost Nurun Nabi urged the government to meet the REHABrsquos longstanding demands to save the housing sector from ruination He also called for reducing corporate tax of non-public traded companies to 20 per cent from the existing 35 per cent He sought a cut in the tax on signing money to 75 per cent from the existing 15 per cent Alamgir also appealed for reducing tax rate on apartment resale to 3 per cent He also sought total 15 per cent tax and VAT on professional services like engineering and architecture from the current 27 per cent Nojibur said that an NBR-REHAB joint working group would be formed to work together for the betterment of the housing sector He also requested REHAB leaders to provide opinions on the income tax law that would be amended soon He assured them that the NBR would consider their demands Source httpwwwnewagebdnetarticle28201rehab-leaders-demand-cut-in-taxes

Daily News Flash 12th November 2017

17

BrsquoDESH BHUTAN START TRADE DATA SHARING IN JAN Bangladesh and Bhutan have decided to start exchanging export-import data from January 1 to verify trade documents to check duty evasion and other customs-related offences through misdeclarations of goods and prices during trades between the two countries The data will be mailed in the first week of the subsequent month according to the decision taken at the 3rd Bangladesh-Bhutan joint group of customs meeting held in November 7-8 in Thimphu the capital of the Himalayan kingdom Initially both sides will exchange export data of three commodities and gradually the scope will be expanded to all the export items Delegations from the both sides also agreed to boost the existing trade volume between the two countries and improve infrastructure at land customs stations of Bangladesh and Bhutan to facilitate border trade Bhutan informed the meeting that they were establishing a mini dry port at Phuentsholing which would boost border trade between the countries National Board of Revenue member (customs audit modernisation and international trade) Khondaker Muhammad Aminur Rahman and Bhutanrsquos Department of Revenue and Customs director Yonten Namgyel led the respective delegations at the meeting Following a request from Bangladesh Bhutan agreed to put necessary information including country of origin name and address business identification number and tax identification number of importer on the export packages as per the current Import Policy Order of Bangladesh Both sides also agreed to hold ground-level customs meetings twice a year alternately at Phuentsholing of Bhutan and Burimari of Bangladesh to resolve customs-related problems smoothly The two countries also decided to raise the issue of improving the infrastructure at Changrabandha (Indian LCS opposite to Burimari of Bangladesh) and Jaigaon (Indian LCS opposite to Bhutanrsquos Phuentsholing) to ensure smooth border trade between the countries Bangladesh also requested the landlocked kingdom to use Nakugaon-Dalu-Gelephu route for their imports and exports as Bangladesh has decided to upgrade Nakugaon LCS as a trade hub for border trade with India and Bhutan Bangladesh side also underscored the potentials of use of riverine routes as mode of transport for export and import of goods Bhutan may also get duty-free market access for limestone powder export to Bangladesh according to the decision of the meeting Mohammad Ehteshamul Hoque NBR first secretary of customs modernisation and international trade on Saturday told New Age that both countries had resolved some small-scale problems to facilitate bilateral trade and committed to further enhancing border trade The planned ground-level meeting of customs officials will also play a role in identifying and resolving bottlenecks in trade between the two nations he said According to the NBR data Bangladesh exported products worth $322 million to Bhutan in the fiscal year 2016-2017 while it imported from the country products worth $3315 million Bangladeshrsquos highest export earnings from the country were $913 million posted in the FY 2011-2012 and the earnings have been declining with fluctuations over the years Bangladeshrsquos major export items to Bhutan are bakery items fruit and vegetable juices tableware kitchenware and toiletry articles of plastics non-alcoholic beverages menrsquos singlets briefs pyjamas medicament mixtures rice aluminium structure and few garment items On the other hand the country imports mainly citrus fruits stone granite dolomite limestone ferro-alloys apple and gypsum from Bhutan Source httpwwwnewagebdnetarticle28202bdesh-bhutan-start-trade-data-sharing-in-jan

Daily News Flash 12th November 2017

18

TAX FAIRS AT ALL ZONES BEGIN TODAY Income tax fair begins today at all income tax zones across the country to provide taxpayers with services in a similar hassle-free atmosphere they got at recently-concluded countrywide weeklong tax fair National Board of Revenue chairman Md Nojibur Rahman on Saturday in a statement said that the decentralised fair at the zones with similar facilities like the weeklong national tax fair would continue till November 30 the last day of income tax returns submission Tax officials will also start issuing income tax ID cards from November 20 to the taxpayers under each tax zone in Dhaka Issuance of ID cards will continue till November 28 There are 31 income tax zones across the country including 15 in Dhaka and four in Chittagong Officials of the revenue board said that the NBR took the decision so that all taxpayers could file their tax returns without any hassle with maximum support from tax officials Initially the NBR planned to issue ID card from November 9 which was deferred due to lack of preparation Source httpwwwnewagebdnetarticle28203tax-fairs-at-all-zones-begin-today

BTRC LIKELY TO LOSE RIGHTS OVER UNUSED BALANCE IN BLOCKED SIMS Mobile phone operators are likely to get relief from paying the government the unused balance in the SIM cards that would be blocked by the telecom regulator for various reasons especially for illegal voice-over internet protocol calls Mobile operators however will have to return the unused balance to its owner if claimed said officials of Bangladesh Telecommunication Regulatory Commission They said that a proposed amendment to the 4G licencing guidelines that would be passed by the telecom regulator in the upcoming commission meeting following instruction from prime ministerrsquos ICT advisor and posts and telecommunication ministry The instruction was made based on a meeting between the mobile phone operators and the government high officials on the proposed 4G licencing guidelines they said As per the BTRC approved draft 4G licencing guidelines that would be revised it was mandatory for all the operators to pay the BTRC the remaining balance amount of the identified illegal prepaid VoIP callers and unsuccessful or fake SIM registration of service connection fund at the time of deactivating them It was also mentioned in the guidelines drafted earlier that there would not be any rights of the mobile network operators over the forfeited account balance of the illegal VoIP callers Whereas it was also mandatory for the operators to pay the remaining balance of such SIM cards within ten days of the following month In case of deactivation of SIM cards for illegal VoIP calls mobile operators would keep the remaining balance while operators would have to pay the balance to its owner if claimed for deactivation of SIM cards for any other reason Such specification about the unused balance would help the operators while the government would lose its rights over the forfeited fund BTRC officials said Such initiative might foil another BTRC move to take stand against the mobile phone operators for non-payment of unused balance in the SIM cards which were blocked by the telecom regulator for various reasons Countryrsquos leading mobile phone operator Grameenphone in February this year deposited Tk 733 crore to the telecom regulator against the unused balance in the connections that were blocked between 2008 and 2014

Daily News Flash 12th November 2017

19

While other operatorsmdash Banglalink Robi Airtel Citycell and Teletalk mdash were yet to pay any fund to the commission in this regard Airtel formerly known as Warid Telecom has already merged with Robi in November 2016 Apart from the unused balance issued the government acknowledged almost all the issues raised by the mobile phone operators about the 4G licencing guidelines BTRC officials said Source httpwwwnewagebdnetarticle28107btrc-likely-to-lose-rights-over-unused-balance-in-blocked-sims

BONDED WAREHOUSE BACK-TO-BACK LC SHOULD BE OPEN TO ALL EXPORTERS Bonded warehouse facility and back-to-back letter of credit facility should be open for all for the export of all sorts of goods to diversify export products said experts and businesses at a workshop on Thursday They came up with the observation while speaking at a stakeholdersrsquo consultation workshop on lsquoExport Diversification Challenges and Prioritiesrsquo organised by Bangladesh Enterprise Institute at IFIC Tower in Dhaka Commonwealth Secretariat adviser and head of international trade and regional cooperation Section Mohammad Razzaque presented a keynote paper on lsquoRevitalising Bangladeshrsquos export trade Policy issues for growth acceleration and diversificationrsquo Razzaque in his presentation said that there should be alternatives of diversifying export destinations and products to achieve $60 billion export target by the year 2021 Although the country has continued to achieve more than 6 per cent growth export to GDP ratio has declined a bit in last couple of years and to increase the ratio for sustaining economic growth there was no alternative to increasing exports he said To facilitate export diversification and ensure equal facility treatment among the exporters all the sectors should get bonded warehouse facility as well as back-to-back letter of credit facility that helped the countryrsquos readymade garment sector to grow Razzaque said Salman F Rahman private sector development advisor to prime minister also said that the bonded warehouse and back-to-back LC facilities should be opened for all to support other exporters Suggesting for the continuation of existing facility for the RMG sector Salman also president of BEI said lsquoWe need product diversification for the economic growth but not at the cost of RMG sectorrsquo Former Dhaka University economics department chairman Wahiduddin Mahmud said that the gov ernment should set a broad category and announce subsidy and cash incentives for longer period to help the sectors to contribute to exports as well as economic growth Speaking about the exchange rate issue the eminent economist also said lsquoAs balance of payment has turned negative the government should not try to control the exchange rate anymorersquo Centre for Policy Dialogue distinguished fellow Mustafizur Rahman said lsquoApart from diversification of other products intra-RMG sector product diversification is also important as we have created a strong foothold in the sector and itrsquos a one trillion dollar marketrsquo Speaking about the repeated change in policy Federation of Bangladesh Chambers of Commerce and Industry president Shafiul Islam Mohiuddin said lsquoElectricity price has been doubled with just a so-called hearing and that led our foreign partners to backtrackrsquo Speaking about the 070 per cent source tax imposed on apparel sector commerce minister Tofail Ahmed said rsquoAlthough we cannot do a lot for the sector but such tax should not remain on the sectorrsquo Source httpwwwnewagebdnetarticle28039bonded-warehouse-back-to-back-lc-should-be-open-to-all-exporters

Daily News Flash 12th November 2017

20

GOVT TO SPEND FUND FOR TOBACCO CONTROL MEASURES CAMPAIGNS The government has finally framed a policy on the use of health development surcharge it imposed on tobacco products three and half years ago The health and family welfare ministry on Wednesday issued the gazette notification of Health Development Surcharge Management Policy-2017 identifying 16 sectors for spending the fund on The fund will mainly be used for limiting the demand for and supply of tobacco products financing tobacco control activities conducting researches and campaigns and operating Tobacco Tax Cell of the National Board of Revenue The revenue board in July 2014 imposed 1 per cent surcharge on all tobacco products both locally produced and imported ones aiming to spend the fund for implementing the programmes to control and discourage the use of tobacco products and prevent tobacco-related diseases In the last three fiscal years (2014-15 2015-16 and 2016-17) the tax authority collected around Tk 900 crore as health development surcharge from tobacco products including cigarette bidi gul zarda and other smoking and chewing tobacco products But the fund remains idle as the health ministry has not got the access to the fund over the years as there was no policy on how to the money be used Officials of the revenue board said that formulation of the policy had paved the way for utilising the fund for tobacco control and prevention of tobacco-related diseases They said that every year around Tk 300 crore would be added to the fund According to the policy the collected surcharge will be used for financing national tobacco control activities operation of the NTCC under the ministry campaigns in the mass media on health hazards of tobacco products and tobacco control and providing trainings to stakeholders The fund will also be used for setting up National Quitline a hotline to help people quit tobacco consumption and providing financial and technical support to organisations for implementation of programmes to prevent tobacco-related non-communicable diseases Programmes will also be taken to create awareness among farmers against tobacco cultivation and motivate them to cultivate alternative crops according to the policy According to the policy a Health Development Surcharge Management Committee headed by the health minister will supervise the proper use of the fund The National Tobacco Control Cell will provide secretarial support to the committee Fund from other sources such as possible imposition of any surcharge on products hazardous to health in future and donations from local and foreign sources will also be added to the fund it said The expenditures from the fund will be audited in line with the methodology followed for the other government agencies it said According to the Global Adult Tobacco Survey-2009 some 413 crore people or 43 per cent of the total population of Bangladesh consume tobacco products On the other hand 430 crore people are victims of indirect smoking According to the World Health Organisationrsquos 2004 data 57000 people die every year in Bangladesh suffering from tobacco-related diseases The government has taken an initiative to make the country smoking free by 2040 Source httpwwwnewagebdnetarticle28040govt-to-spend-fund-for-tobacco-control-measures-campaigns

STUDY BLAMES MOBILE HUNDI FOR FALLING REMITTANCES THRU BANKING CHANNEL A study of Bangladesh Institute of Bank Management on Thursday blamed Hundi through mobile financial services including bKash Rocket mCash and UCash for decreasing remittance through banking channel

Daily News Flash 12th November 2017

21

The study conducted by a six-member team identified distance of bank branches delay in receiving money misconduct by bankers submission of various documents weekly holidays of banks and illegal immigrants as the reasons for increasing remittance inflow through mobile Hundi The six-member team headed by BIBM director Shah Md Ahsan Habib presented the study at the seminar presided over by BIBM director general Toufic Ahmad Choudhury held in the auditorium of the institute in the city lsquoIn Bangladesh remittances declined by an estimated 111 per cent in 2016 in the face of lower oil prices and fiscal tightening in the GCC countries Among other reasons use of Illegal channel by the expatriates is doing harm to our countryrsquo Bangladesh Bank deputy governor Shitangshu Kumar Sur Chowdhury said He said that it would not be possible to stop Hundi totally but BB is working to check the transactions through the illegal channel To ease the formal channel BB has reduced the security deposit requirement for the exchange houses abroad to make arrangements for remittances with local banks Shitangshu said The BB deputy governor hoped that Non-Resident Bangladeshis would come forward to know the importance of their money to be sent through banking channels BB former executive director Yasin Ali said that national economy was being hindered due to remittance inflow through illegal channels He suggested using mobile banking facilities for remittance inflow saying that the area of mobile banking expanded many fold in last five years Helal Ahmed Chowdhury former managing director of Pubali Bank suggested bankers to be courteous with bank customers Source httpwwwnewagebdnetarticle28041study-blames-mobile-hundi-for-falling-remittances-thru-banking-channel

POLICY SUPPORT MUST TO DIVERSIFY EXPORT BASKET Speakers on Thursday said that in order to diversify the countryrsquos export basket export-oriented businesses should be given the policy support that has proved highly successful in bringing vibrancy to the countryrsquos RMG sector They were speaking at a workshop styled ldquoExport Diversification Challenges and Prioritiesrdquo organised by Bangladesh Enterprise Institute (BEI) in the auditorium of International Finance Investment and Commerce Bank in Dhaka Dr Mohammad A Razzaque former head of International Trade Policy at Commonwealth Secretariat in London presented a keynote paper in the programme chaired by Salman F Rahman private sector development advisor to Awami League President and Prime Minister Sheikh Hasina Skill development measures may also play a vital part in this regard Salman said export diversification would be possible only when adequate and appropriate policy support is provided to all export-oriented industries Dr Razzaque in his keynote paper suggested revamping and deepening policy support such as providing cash assistance and bonded warehouse facilities to all such industries to improve their export competitiveness He also highlighted the need for further expanding Bangladeshrsquos export basket as its penetration into global export markets in the last decade was very insignificant Eminent economist Prof Wahiduddin Mahmud said ldquoIn addition to providing subsidies and cash incentives to thriving and promising sectors on a long-term basis the government should take measures to strengthen the countryrsquos manufacturing baserdquo

Daily News Flash 12th November 2017

22

Shafiul Islam Mohiuddin president of the Federation of Bangladesh Chambers of Commerce and Industry said the governmentrsquos support is a must to create a strong manufacturing base for export diversification ldquoSkill development measures may also play a vital part in this regardrdquo Addressing the event as the chief guest Commerce Minister Tofail Ahmed said export diversification depends on businessmenrsquos initiatives He however pledged all necessary support from the government for export diversification to meet the countryrsquos $60 billion export target by 2021 BEI President Farooq Sobhan emphasised engaging the private sector in relevant policy discourses to achieve the target ldquoA private sector-oriented policy mechanism is very important as rapid changes are taking place in the global trade landscape Understanding implications and generating timely policy responses to unfolding developments will be meaningful only when the private sector is able to benefit from themrdquo said Sobhan Among others Mustafizur Rahman a fellow at the Centre for Policy Dialogue Kazi M Aminul Islam executive chairman of Bangladesh Investment Development Authority Bijoy Bhattacharjee vice chairman of Bangladesh Export Promotion Bureau and Md Nojibur Rahman chairman of the National Board of Revenue also spoke Source httpwwwdhakatribunecombusinesseconomy20171109policy-support-must-diversify-export-basket

BANKS LACK REMEDIAL STRATEGY WHILE NPL RISES WORRYINGLY Some of Bangladeshs banks dont have in-depth look into the problem of spiraling non-performing loans (NPL) while many others try to frame remedial strategies perfunctorily Such observations came out from studies on banking as well as financial sector at large as the NPL surge worries many quarters One finding shows that around 11 per cent of the countrys banks did not have an in-depth look into the issue of NPLs in the past year despite a growing concern over the problem in the financial arena The recent industry-wide survey also revealed that around 30 per cent of the countrys banks had not assessed their past NPL-reduction strategies at all while 36 per cent did so only on an ad-hoc basis The findings came out from the survey of the Chief Risk Officers at the banks on issues concerning NPL strategy in their institutions Leading banking research and training institution Bangladesh Institute of Bank Management (BIBM) conducted the study The research findings come at a time when the ballooning NPLs is becoming a major issue with the countrys banking industry and also triggering concerns and criticisms As per the central bank data the volume of NPLs had increased by more than 21 per cent to Tk 62172 billion by the end of 2016 swelling from Tk 51371 billion a year before The findings are genuinely surprising as we are struggling to find a bank for which NPL is not an issue in some capacity said Sazib Azad Senior Advisor of BIBM who led the research initiative Furthermore if the bank itself is immune to the impact of NPL even then they need to consider whether they are immune from structural or market-level impacts as well he told the FE However relevant survey results show the potential lack of such considerations as only 10 per cent of bank CROs taking part in the survey said that their banks are addressing potential dependence on market assessment and strategy What is more surprising is that the NPL strategies of around 62 per cent of the banks are not signed off by the boards the survey found

Daily News Flash 12th November 2017

23

This is quite striking because given the severity of the non-performing-loan issue the NPL strategy should be signed off by the boards Mr Azad said adding Boards are not only accountable for the health of the banks but are also in position to release resources to get to grips with the issue In addition the survey result also revealed 31 per cent of the banks not communicating their NPL strategy across the bank NPL as an issue needs to be addressed from ground up But the results show that this is not happening at our banks said an expert who was involved with research Meanwhile 25 per cent of the CROs said they were not tracking the implementation and effectiveness of NPL strategy in their banks- something which according to experts is a cause of concern Given how critical an issue NPL exposure is we would expect every CRO to track how the NPL strategy is being implemented its effectiveness and how to improve matters to the Board Risk Committee and the Board the banking experts said Meanwhile the survey results also found that although 94 per cent of the banks had stress-tested their balance sheet in terms of NPL drag this figure drops to 56 per cent while considering the impact to and from the wider economy market and structural aspects It seems that 33 per cent of the banks do not formally consider this aspect with a further 11 per cent not looking at this dimension at all the researchers said Experts also noted that with Basel 3 farther putting capital under pressure sensible banks should dynamically model the impact of key risks to their capital However the survey results show 17 per cent of the banks are not doing so while 31 per cent doing it in a limited manner Asked whether their banks risk-appetite-statement metrics reflected their NPL strategy 36 per cent of the respondents said they do so in a limited capacity while a further 80 per cent are not doing that at all It was also found that 25 per cent of the C-Suites have specific NPL-strategy-related targets while 31 per cent of the CROs have the same Meanwhile when asked whether they consider their NPL strategy to be embedded just over half of them or 52 per cent of the survey participants said Yes This according to experts is clearly not fit for purpose given the severity of the NPL issue facing the banking sector The first step in looking into the NPL issue is to assess internal capabilities to effectively manage NPLs Next external conditions or operating environment needs to be considered Finally the capital implications of the NPL strategy need to be analyzed said Sajib Azad The findings of the survey will be shared with the stakeholders during the next CRO forum of BIBM expected to take place next month where the issue of Risk Culture will also figure high The biggest reason for the swelling of NPL in our banking sector is a lack of good governance To check the ballooning of NPL the internal governance of the banks has to be strengthened above all Director-General of BIBM Toufic Ahmad Choudhury said Meanwhile the survey also found banks tending to consider time-horizon portfolio segment and exposure-level-based targets to be broadly equally important to their NPL strategy In terms of options preferred for reducing NPL banks consider change of exposure type to be most effective (36 per cent) followed by active portfolio reductions (33 per cent) and hold forbearance (31 pe rcent) Source httptodaythefinancialexpresscombdfirst-pagebanks-lack-remedial-strategy-while-npl-rises-worryingly-1510417700

GOVT SEEKS US$183B UNDER 39TH JAPANESE ODA PACKAGE The government has sought around US$183 billion worth of assistance from Japan for bankrolling six development projects officials said Saturday

Daily News Flash 12th November 2017

24

Officials at the Ministry of Finance (MoF) said they have already discussed the issue with the Japan International Cooperation Agency (JICA) We are hopeful of receiving funds under its upcoming 39th Official Development Assistance (ODA) package to finance six development projects a senior MoF official told the FE He said a JICA mission in September-October last completed its visit to Bangladesh to explore the possibilities of financing the proposed projects We are hopeful of signing the 39th ODA package with JICA within a couple of months he said After signing the loan deal the largest bilateral donor will start disbursement of funds from the proposed $183 billion aid package for the six development projects the MoF official added The proposed six projects under the 39th ODA package are Matarbari port development Dhaka MRT line-6 construction (phase-III) Dhaka MRT line -5 feasibility study Matarbari ultra super critical coal-fired power plant (phase-IV) Jamuna Railway Bridge construction and Health service strengthening project A senior official of Economic Relations Division said the proposed 39th ODA package will be very useful for Bangladesh as it will be utilised to develop the Matarbari port ongoing Matarbari power plant project conduct feasibility study and detailed design of the MRT line-5 in Dhaka and to construct railway bridge over the River Jamuna All of these projects are very important for the country to ensure smooth transportation and uninterrupted power supply he added Japan is the largest bilateral development partner of Bangladesh Over last 5-6 years it has enhanced its aid with confirmation of more than US$10 billion worth of funds under each of the aid packages In the last 38th ODA package signed in June 2017 JICA provided Yen 178223 billion ($164 billion) for utilising in six development projects on transport infrastructure power and water sector improvement works In June 2016 Japan signed the 37th ODA deal worth $150 billion (17354 billion Japanese Yen) with Bangladesh and in December 2015 it inked the 36th ODA package confirming $12 billion concessional loan for six development projects Under the last 38th ODA package JICA offered $700 million (Yen 76825 billion) for Hazrat Shahjalal International Airport Expansion project $480 million (Yen 5273 billion) for 2nd Kanchpur Meghna and Gumti bridges construction $50 million (Yen 5593 billion) for Dhaka Mass Rapid Transit development project (Line 1) $100 million (Yen 10745 billion) for Matarbari ultra super critical coal-fired power plant $190 million (Yen 20477 billion) for Dhaka underground substation construction project and $110 million (Yen 11853 billion) loan for small scale water resources development project Japan has so far provided Bangladesh with nearly US$12 billion in assistance since the financial year (FY) 1971-72 Source httptodaythefinancialexpresscombdfirst-pagegovt-seeks-us183b-under-39th-japanese-oda-package-1510417739

SUMMIT GROUP ENTITIES TO ISSUE PREFERENCE SHARES WORTH $1250M A subscription closing ceremony to raise capital through issuance of preference shares worth BDT 1000 million (USD 1250 million) for Summit Barisal Power Limited amp Summit Narayanganj Power Unit II Limited was held recently at Pan Pacific Sonargaon Dhaka said a statement LankaBangla Finance Limited acted as the Mandated Arranger LankaBangla Investments Limited acted as the Issue Manager and The City Bank Limited acted as the Agent Account Bank amp Custodian Bank to raise the fund In the event Mr Lt Gen (Retd) Engr Abdul Wadud Managing Director of Summit Barisal Power Limited amp Summit Narayanganj Power Unit II Limited Mr Khwaja Shahriar Managing Director amp

Daily News Flash 12th November 2017

25

CEO of LankaBangla Finance Limited Mr Mohammed Nasir Uddin Chowdhury Managing Director of LankaBangla Capital Market Operations Mr Mominul Islam Managing Director amp CEO of IPDC Finance Limited Mr R Q M Forkan Managing Director amp CEO of Bangladesh Commerce Bank Limited Mr Faruq M Ahmed Additional Managing Director of Trust Bank Limited Mr Akthar Hamid Khan Deputy Managing Director of Pubali Bank Limited Mr Arif Hasan Khan Vice President of Modhumoti Bank Limited Mr Mohammad Ibrahim Khalil FCA Vice President amp CFO of Bank Asia Limited and Mr Mahbub Jamil Vice President and Head of Structured Finance of The City Bank Limited along with other senior officials from the companies were present Source httptodaythefinancialexpresscombdstock-corporatesummit-group-entities-to-issue-preference-shares-worth-1250m-1510411878

BMBA URGES MUHITH TO EXEMPT INVESTMENTS BY MF SPONSORS Bangladesh Merchant Bankers Association (BMBA) has urged the finance minister to exclude some components including sponsors investments in mutual funds (MFs) from the banks exposure to the capital market It made the request for ensuring an environment conducive to gradual development of the capital market according to a proposal submitted to Finance Minister AMA Muhith last week The BMBA said the long-term or strategic investments needed to be excluded while calculating the exposure as these investments were not intended for frequent trading Non-convertible preference shares and non-listed securities also need to be excluded from the capital market exposure as it will never influence the capital market volatility it said in a letter to the minister According to the letter the MFs are passive investments where investors themselves are not involved in investment decision making and such fund portfolios are mostly of long-term nature than frequent trading On the other hand the sponsors of the MFs need to hold 10 per cent of the investment until liquidation of the fund So considering the fact the sponsors portions in MFs need to be excluded from the banks capital exposure said the BMBA proposal As per the Banking Act 1991 it said reporting requirement is on solo basis but the central bank has introduced consolidated calculation which is of dual effectdouble counting in the market exposure This kind of restrictive measure creates panic situation in the market and may hinder the potentials and prospects of the capital market as a whole the BMBA said It also said that this kind of practice needed to be stopped as such requirements and reporting practice would further squeeze the market and that the investors would lose their interest The BMBA said some organisations have invested on strategic purpose and were holding positions in the board and their exposure increased with rising the market price of MF units On the other hand in compliance with the securities rules they are unable to sell shares to reduce exposure the BMBA said terming the situation complicated In its letter the BMBA said that the capital market exposure of some banks and financial institutions increased without fresh investments following the upward trend of the market price as the exposure is calculated on the basis of market price If the banks need to go for selling off their excess exposure this will create unnecessary selling pressure on the market said the BMBA The association requested the finance minister to consider their proposal to facilitate the growth of the capital market by its own strength and prospect Source httptodaythefinancialexpresscombdstock-corporatebmba-urges-muhith-to-exempt-investments-by-mf-sponsors-1510411950

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ATIUR STRESSES ROLE OF REGULATORS IN DIGITAL FINANCIAL INCLUSION Former Bangladesh Bank Governor Dr Atiur Rahman chairs a session at the 5th Biennial Competition Regulation and Development Conference at Jaipur in India on Thursday Success of digital financial inclusion depends on the prudent role of the regulating bodies to a great extent And the recent progress in Bangladesh in this regard is a good example for the rest of the world to follow said Dr Atiur Rahman former governor of Bangladesh Bank says a statement He was chairing a session at the 5th Biennial Competition Regulation and Development Conference at Jaipur India on Thursday The three-day conference is being hosted by CUTS International and OECD Speakers of the session included Ravinder S Aurora Senior Vice President of Mastercard David Ongolo Kenyan Competition Authority and Dr A K EnamulHaque Professor of East West University Dhaka Many developing countries survived and even thrived during the last global financial crisis because they chose to follow a broad-based financial inclusion strategy And digital solutions played a crucial role in this financial inclusion drive said Dr Rahman He added that service providers must focus on reaching out to the customers in the rural socio-economic conditions Dr Rahman said that experience from Bangladesh can answer many of the burning questions regarding digital financial inclusion The central bank of the country has facilitated bank-led digitisation drive Be it Mobile Financial Service or be it Agent Banking the Bangladesh Bank has encouraged traditional players (ie the commercial banks) to lead the way And it has been proven to be very successful He also said that the world is witnessing only the beginning of the digital finance revolution Hence we must learn from all these experiments share our experiences and know-hows Only then we can work towards shaping global standards and practices Dr Rahman finally asked all central banks to be more proactive and collaborative with other stakeholders including non-traditional financial service providers to facilitate orderly development of digital financial inclusion so that consumers interests are better protected The grievance redressal mechanism developed in Bangladesh Bank with infusion of state of the art technology to gain trust of the customers in financial inclusion was also discussed widely in the session The panelists highly appreciated Bangladeshs regulatory move with public interest in mind using latest technology for replicable digital financial inclusion Source httptodaythefinancialexpresscombdtrade-marketatiur-stresses-role-of-regulators-in-digital-financial-inclusion-1510416319

FAO FEARS NEGATIVE BD FOOD OUTPUT GROWTH ON FLOODING Recent flooding has dampened the outlook for Bangladesh a likely third successive season of little or negative food production growth mainly rice reports UNB quoting FAO Barring major setbacks production recoveries could instead permit Bangladesh and Sri Lanka to slightly lower their 2018 imports to 11 million and 450 000 tonnes respectively according to the latest Food Outlook published by the UN Food and Agriculture Organisation (FAO) Among other rice importers Bangladesh Iraq Nigeria and the Philippines are all similarly predicted to replenish their inventories according to the report a copy of which obtained by the news agency These gains are however likely to be offset by stock reductions in the Republic of Korea Madagascar Sri Lanka and the United Republic of Tanzania all linked to output shortfalls Although the use of rice as animal feed is being sustained by the release of supplies from government granaries in Japan the Republic of Korea and Thailand more affordable feedstuffs are expected to displace rice in most other countries especially in Bangladesh China (Mainland) and Vietnam

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Since the previous Food Outlook report a series of unfavourable climate-related events have affected main paddy crops in the Northern Hemisphere which have now reached the harvesting stage This has been the case in Asia where unlike 2016 the critical Northern Hemisphere summer months were characterised by mixed growing conditions that inhibited planting expansions As a result FAOs latest forecast of world rice production in 2017 points to a broadly stable output level of 5008 million tonnes Production in Asia is now forecast to fall 550 000 tonnes below the 2016 bumper harvest to 4525 million tonnes The UN agriculture agency has said the cost of importing food is rising in 2017 driven by increased international demand for most food stuffs as well as higher freight charges The cost of importing food is forecast to rise six per cent in 2017 to $1413 trillion making it the second highest bill on record while food commodity prices have been generally stable according to the latest Food Outlook that expressed concern about the economic and social impact of this trend on poor countries Although weather disruptions are set to stall production growth this season global rice supplies are still forecast to exceed utilisation enabling a small expansion of world rice inventories Global trade is expected to rise only modestly in 2018 after staging an 8 per cent recovery in 2017 The food import bills are set to increase by double-digit rates for least-developed countries (LDCs) and low-income food-deficit countries Aromatic rice varieties have risen eight times faster than the FAO All Rice Index which is up four per cent on the year However the higher import costs come at a time when inventories are robust harvest forecasts are strong and food commodity markets remain well supplied The export of tropical fruits is promising for poverty relief and rural development as almost all production takes place in developing countries The export volumes of mango pineapple avocado and papayas are on course to achieve a total combined value of $10 billion this year according to the Food Outlook Source httptodaythefinancialexpresscombdfirst-pagefao-fears-negative-bd-food-output-growth-on-flooding-1510336161date=11-11-2017

STOCKS NUDGE HIGHER AS BANK TELECOM ISSUES SURGE Stocks extended the winning streak for the two consecutive weeks that ended Thursday as enthusiastic investors continued their buying appetite on bank and telecommunication issues Market operators said the positive momentum in some large-cap issues especially from banking telecom pharmaceuticals and food amp allied sectors helped the bourse to stay upbeat The banking sector posted the highest return of 445 per cent as 27 out of 30 listed banks ticked higher Four banks gained more than 10 per cent each The telecom sector also surged 342 per cent as Grameenphone the countrys largest market-cap listed companys shares price jumped 40 per cent to close at Tk 45690 each The market extended the winning streak riding on heavyweight bank and telecom issues said an analyst at a leading brokerage firm The week featured five trading sessions as usual Of them first session saw marginal correction while last four closed higher Week-on-week DSEX the prime index of the Dhaka Stock Exchange (DSE) jacked up by 9454 points or 155 per cent to finish at 6193 The two other indices -- the DS30 index and the DSE Shariah Index (DSES) - also closed higher at 2244 and 1341 points

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Both the indices added 4264 points and 1218 points respectively During the week banking pharmaceuticals and telecommunication sector stocks contributed more to keep the market up commented City Bank Capital Resources a merchant bank in its weekly analysis The port city bourse Chittagong Stock Exchange (CSE) also ended higher The CSCX advanced 180 points or 156 per cent to finish at 11618 International Leasing Securities a stockbroker noted that the market observed an upbeat vibe throughout the week riding on the news of soaring of net foreign investment in the capital market in the first 10 months of 2017 compared to the same period of last year Net position of foreign portfolio with the DSE stood at Tk 1623 billion in January-October compared to Tk 80 billion in the same period a year ago However some investors were reshuffling their portfolios after observing the year-end corporate declarations and first quarter earning disclosures the stockbroker added According to EBL Securities The market witnessed an upbeat tune throughout the week riding on regained confidence among the market participants The stockbroker noted that preferable year-end and quarter-end earnings declarations by several companies helped them to remain positive about market The total turnover for the week amounted to Tk 3591 billion on the DSE which was Tk 3027 billion in the week before The daily turnover averaged Tk 718 billion which was nearly 19 per cent higher than the previous weeks average of Tk 605 billion Block trade accounted for 16 per cent of the total weekly turnover where stocks like BATBC Beximco Pharma Shahjalal Islami Bank Square Pharma and Singer Bangladesh dominated the block trade board Banking sector kept its dominance over the turnover chart grabbing 35 per cent of the weeks total transaction followed by engineering with 18 per cent and pharmaceuticals 11 per cent Out of 336 issues traded 207 closed lower 116 ended higher and 13 issues remained unchanged on the DSE trading floor during the week The market capitalisation of the DSE rose 137 per cent as it was Tk 4123 billion on the opening day of the week and it stood at Tk 4179 billion on closing day of the week City Bank topped the weeks turnover chart with 5390 million shares worth Tk 184 billion changing hands followed by IFAD Autos with Tk 121 billion Brac Bank Tk 10 billion LankaBangla Finance Tk 994 million and Dhaka Bank Tk 926 million Reckitt Benckiser was the weeks best performer posting a gain of 1925 per cent while Stylecraft was the weeks worst loser slumping by 3322 per cent A new issue - Oimex Electrode-- made debut last week and soared 1042 per cent from its offer price of Tk 10 in the first trading day on Monday Source httptodaythefinancialexpresscombdstock-corporatestocks-nudge-higher-as-bank-telecom-issues-surge-1510332934date=11-11-2017

BANGLADESH GROWING AS DENIM HUB The growing global demand for fashionable denim wear encouraged both local and foreign entrepreneurs to make fresh investment in Bangladesh participants and organisers of Bangladesh Denim Expo have said Many of the 30 local denim mills are going for expansion while a couple more will come into operation with fresh investment within next two or three years they said Some foreign companies are opening offices or setting up factories in Bangladesh they added The seventh edition of the two-day Bangladesh Denim Expo was held in the city recently with the theme transparency to highlight the need for transparency in the entire denim supply chain

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A total of 65 exhibitors from 12 countries participated in the show while more than 12 thousand visitors from across the world registered online to attend the two-day expo organisers said Talking to the FE on the sidelines of the expo Md Khalid Mosharof assistant general manager at Dekko Group said the group invested Tk 15 million in setting up a new factory of 44 lines at Ashulia that would go for denim item production in June next The main reason is to tap the growing global demand he said Echoing him Syeed Ahmed Chowdhury general manager operation at Square Denim said the company expanded its denim fabric production capacity to 30 million yards from the existing 15 million yards per month mainly to meet the demand He however opined that the expansion is taking place more in garment segments than in fabric production There is no alternative to expansion to sustain the existing business and achieve the $50 billion garment export earnings target by 2021 Sharif Zahir managing director of Ananta Group said stressing the need for positive branding of the sector Meanwhile Landes a German denim accessories maker started production in its new factory at Savar from this month It invested US $05 million We opened the factory in Bangladesh as we think this is the hub for denim business and there is a lot of business prospects here Manfred Slowik chief operating officer of Landes told the FE at his stall at the expo By the end of next year the total workforce in our new plant will be 120 people as we are recruiting new people from existing 30 Mr Slowik said Landes has a target to produce 500 million pieces of leather patches used in denim trousers as accessories in a year at its Savar plant from where such accessories will be supplied to the whole Asian region Many big brands like HampM VF and Walmart are their customers he said Nezahat Boni senior account manager of Orta a Turkish denim maker said her company supplies 30 million metres of denim fabrics in Bangladesh in a year against only 800 meters in 2011 We opened an office in Bangladesh in 2011 as we cannot ignore the importance of this country as a denim hub she said Prosperity Textile a Chinese company opened its office in Dhaka last year said Md Mujibul Hoque the companys Bangladesh Sales Director The company has targeted sale of 100 million yards a year across the globe while it also targets 30-40 per cent of their sales in Bangladesh Bangladesh is now the top denim products supplier to the European Union overtaking China and third largest to the US after China and Mexico industry people said Bangladesh supplies denim products to major global buyers and retailers including levis G-Star Raw HampM Tesco Wrangler Hugo Boss Walmart and Gap Source httptodaythefinancialexpresscombdtrade-marketbangladesh-growing-as-denim-hub-1510332061date=11-11-2017

EXPORTS UP 70PC IN JULY-OCTOBER Countrys export earnings grew by 703 per cent to US$1150 billion during first four months of the current fiscal year (FY 2017-18) according to official data released Thursday The earnings were $1079 billion in the same period (July-October) last FY In October 2017 the exports grew by 642 per cent to $284 billion the Export Promotion Bureau (EPB) data showed The overall exports in the first four months slightly (074 per cent) fell short of the periods target In October however the exports were 628 per cent higher than the months strategic target Readymade garment shipments fetched $943 billion marking 699 per cent growth during the period as compared to $882 billion in the same period of last FY

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The woven items registered 385 per cent growth in earnings to $445 billion than that of $428 billion in the same period of FY 2016-17 The earnings from knitwear export during the period grew by 995 per cent to $498 billion from $453 billion in the corresponding period of last FY Jute and jute goods exports rose by 1646 per cent to $34501 million from $29626 million in the same period of FY17 The earnings from agriculture products grew by 2022 per cent during the period while home textiles by 2037 per cent The earnings from leather and leather products however fell marginally by 002 per cent to $42844 million during the period than that of $42851 million in the same period last FY The export earnings from frozen food and live fish grew by 1541 per cent to $22691 million from $19661 million of the corresponding period of last fiscal Mahmud Hasan Khan vice president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) said the exports in the first four months of the current fiscal year fell short of the expected growth mainly because of failure in maintaining the lead time and short supply of gas and electricity Terming the knitwears growth satisfactory he said woven items manufacturers have been struggling to cope with the new challenge as buyers were reducing the volume of orders due to failure in meeting the lead time Without efficient port and strong backward linkage industry especially for the woven sub-sector it will be difficult for the sub-sector to bounce back he feared He pointed out that maximum of the woven fabric requirements were being met through imports But it was taking too much time to clear the imported fabrics and additional charges as a result at the Chittagong seaport that was facing unbearable congestion The government should provide necessary policy support to the exporters to establish strong backward linkage industry for the woven sub-sector he added Source httptodaythefinancialexpresscombdfirst-pageexports-up-70pc-in-july-october-1510248870date=10-11-2017

GAS CRISIS HURTING OUTPUT IN INDUSTRIAL BELT Factories in the countrys Tongi-Gazipur industrial belt have been facing acute gas crisis over the past few months following diversion of gas to upstream power plants The crisis has deteriorated further this week albeit some improvements for a few days last week said local industrialists and businessmen According to them if the ongoing gas crisis persists they may be forced to shut down their factories Officials of the Titas Gas Transmission and Distribution Company Limited (TGTDCL) however blamed the Petrobangla for the gas crunch Sources concerned say the industrial belt of Tongi-Gazipur is suffering badly for about four to five months from low pressure of gas coupled with poor electricity voltage -- often resulting in huge volume of industrial wastages and reduction of production efficiency According to the industry insiders a factory in the industrial belt requires 04 PSI (production per square inch) as optimum gas pressure but the pressure at times comes down to as low as 01 PSI these days -- especially during the daytime Gas pressure in the area becomes normal around 10pm11pm and stays for not more than 08 hours until 6am7am an entrepreneur of the industrial belt informed Asked an official of Titas said they are at present getting nearly 250 million cubic meters (MCM) less in recent weeks against their current demand of 1800 MCM gas in Titas franchise The downstream Titas franchise area covers greater Dhaka region which includes Gazipur alongside some other adjoining districts and greater Mymensingh he said

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A Petrobangla source however cited gas supply on priority basis to a number of upstream projects including power plants as reason behind supply shortage When asked Managing Director of Akij Group Sk Bashir Uddin termed the situation really worrisome According to him two of Akij Group companies situated in the area -- Akij Printing amp Packages Limited and Dhaka Tobacco Industries -- jointly contributed nearly Tk 35 billion (3500 crore) to the national exchequer in the 2016-17 fiscal year But were very much worried about our industrial output this year as production disruption following the twin crises involving gas supply and power supply Both will eventually disrupt our retail business in every phase he quipped This often results in a high rate of industrial wastage and reduction of production efficiency he added Bangladesh Auto Re-rolling Steel Mills amp Association Chairman Manwar Hossain who is also Anwar Group Managing Director echoed the same concern Factories in the industrial belt are now operating at one-third of their capacity which may lead to labour unrest and default of huge sum of bank loans he said Such disruption of production he cautions may even cause sudden shutdown of factories According to him none of the victims in that case will be the wilful defaulters -- they will be the victims of circumstances The businessman who has a steel factory called Anwar Ispat Limited in the industrial belt called for immediate introduction of ECM (electronically controlled meters) to check unabated gas engineering in the area which he deems to be yet another reason for gas supply crunch Titas officials according to him are encouraging co-generation scheme to help address the severe gas crisis But he said co-generation will require stable and smooth gas supply Government should ensure at least 10-15 years of smooth gas supply to encourage co-generation as what he said any industrial investment requires 20 years of payback period TGTDCL Deputy Managing Director Engineer Abdul Wahab Talukdar who is also the Project Director of Sripur-Joydevpur Transmission Pipeline Project said We cannot do anything to address the crisis if there is a lack of adequate gas supply Mentioning that all factories in the industrial belt are like my babies he unequivocally said Titas is not at fault He also admitted that priority-based power plants gas supply being the reason behind the current spell of gas crunch We have already started introducing electronic volumetric corrector (EVC) to stop illegal gas use in the area he said Factories he added should go for co-generation scheme for protecting their own interest Co-generation means utilising and absorbing heat generated from gas generators which Mr Wahab said will save energy A section of the businessmen however called for stopping fertiliser production and distributing the same among people at a subsidised price after importing it to facilitate smooth supply of gas to other industries Even if the government stops fertiliser production and opts for importing it for distribution at a subsidised rate there will only be an insignificant loss compared to the overall losses now being incurred said an industrialist who has more than one factory in the industrial belt Local sources said illegal and unapproved gas connections in various industries in and around the zone are also affecting gas supply badly among other reasons Source httptodaythefinancialexpresscombdfirst-pagegas-crisis-hurting-output-in-industrial-belt-1510249018date=10-11-2017

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SINGLE PERSON MAY FORM COMPANY A single person may form a commercial firm under a provision of the companies law being updated along with some other major business-stimulating measures Official sources said the government is considering incorporating some new provisions including one allowing individuals to form any company into the updated Companies Act The other provisions are formation of an appellate tribunal to resolve legal matters without wasting much time widespread automation of companies work and submission of annual company reports online Earlier the Ministry of Commerce (MoC) had received some recommendations from the stakeholders on how to update the law they added We got most of the recommendations from the stakeholders We hope we will be able to prepare the draft Companies Act within a month Md Obaidul Azam director trade organisations (DTO) told the FE He said the recommendations the ministry had received so far were being scrutinised before preparing a draft for updating the companies act Earlier different trade bodies had sent their respective recommendations to the MoC for incorporation into the law The MoC will hold a meeting with the countrys apex trade body after assessing the recommendations and suggestions the ministry official said Talking to the FE a leader of an influential trade body said they had sent some recommendationssuggestions to the MoC for the new Companies Act for betterment of the countrys trade and business According to Section 2 (1) (c) of the Companies Act 1994 Company means a company formed and registered under this Act or an existing company Thus a company is an association of persons formed under the Companies Act 1994 with a view to achieving some common objectives Though a company is regarded a legal person it possesses similar rights and owes similar obligations like a natural person Now any individual fulfilling the new criteria may be allowed to form a firm Source httptodaythefinancialexpresscombdfirst-pagesingle-person-may-form-company-1510249090date=10-11-2017

DSE TURNOVER CROSSES TK 80 BILLION MARK The daily turnover on Dhaka Stock Exchange (DSE) exceeded the Tk 80 billion mark on Thursday as investors took fresh exposure to the banking sector Turnover a crucial indicator of the market reached Tk 870 billion on the countrys premier bourse jumping 14 per cent from the previous days transaction of Tk 765 billion It was the biggest single-day transaction since October 11 when the turnover totalled a record Tk 1092 billion Along with rising turnover DSEX the prime index of the Dhaka bourse continued to keep its gaining momentum closing 3449 points higher at 6193 points DSEX which replaced the DGEN in nearly five years back added more than 121 points or 20 per cent in the past four consecutive sessions The two other indices -- the DS30 index and the DSE Shariah Index (DSES) -- also followed suit to end at 2244 and 1341 points after gaining 1422 points and 443 points respectively Brokers said the market maintained the bullish trend for the four straight sessions as the enthusiastic investors chased the banking sector stocks The market continued the bullish trend for the four consecutive sessions as the enthusiastic investors were active for the banking food and engineering sector stocks commented EBL Securities a stockbroker in its regular market analysis

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It noted that the core index remained positive throughout the session as optimistic investors kept buying sector-wise stocks while some rebalanced their portfolios Meanwhile share price of newly listed Oimex Electrode continued to decline for the three consecutive sessions after unusual hike during its debut trading on Monday The companys share price fell 763 per cent to close at Tk 9810 on Thursday after jumping more than tenfold during the debut trading which experts termed unusual Block trade contributed Tk 241 million to the days total turnover with stocks like BATBC Square Pharmaceuticals Singer Bangladesh and Beximco Pharma dominating the block trade board Among the major sectors pharmaceuticals posted the highest gain of 122 per cent followed by banking sector (083 per cent) food amp allied (067 per cent) engineering (033 per cent) financial institutions (003 per cent) and power (003 per cent) Only telecommunication sector faced a 045 per cent correction A total number of 0140 million trades were executed in the days trading session with trading volume totalling 23171 million securities The total market capitalisation of the DSE stood at Tk 4179 billion against Tk 4168 billion in the previous session Losers however took a modest lead over the gainers as out of 325 issues traded 140 closed lower 130 closed higher and 55 remained unchanged on the DSE trading floor City Bank dominated the turnover chart for the second day in a row with 1035 million shares changing hands closely followed by Dhaka Bank LankaBangla Finance Brac Bank and Keya Cosmetics Reckitt Benckiser was also the days best performer posting a gain of 624 per cent while Qasem Drycells was the days biggest loser shedding 1235 per cent The port city bourse Chittagong Stock Exchange (CSE) also ended higher with its Selective Categories Index -- CSCX --gaining more than 62 points to close at 11618 Losers beat gainers as 113 issues closed lower 97 closed higher and 37 remained unchanged on the CSE The port city bourse traded 1604 million shares and mutual fund units generating a turnover of Tk 483 million Source httptodaythefinancialexpresscombdstock-corporatedse-turnover-crosses-tk-80-billion-mark-1510245247date=10-11-2017

TEN COS GRAB 32PC TURNOVER ON DSE The banking sector continued to dominate the transaction chart of the Dhaka Stock Exchange (DSE) accounting for 39 per cent of the total turnover on Thursday Four banks made their way to the top 10 turnover chart with City Bank leading the chart for the second day in a row Brokers said the investors chased the banking sector issues as more than 63 per cent of listed banks showed positive earnings in the third quarter (July-September period) Meanwhile top 10 traded companies including four banks grabbed more than 32 per cent of turnover on the Dhaka bourse The total turnover on the premier bourse reached Tk 870 billion up 14 per cent from the previous days Tk 765 billion The most active shares in terms of value included City Bank Dhaka Bank LankaBangla Finance Brac Bank Keya Cosmetics Square Pharmaceuticals Beximco Pharmaceuticals IFAD Autos Exim Bank and IDLC Finance According to statistics available with the DSE about 1035 million shares of City Bank were traded generating a turnover of Tk 553 million or 635 per cent of the total transactions

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The companys share price hovered between Tk 5240 and Tk 5440 before closing at Tk 5390 advancing 228 per cent over the previous session Dhaka Bank came in next with shares of Tk 395 million changing hands contributing 454 per cent to the total turnover The banks share price closed 347 per cent higher at Tk 2380 LankaBangla notched the third spot with shares of Tk 266 million changing hands making up 305 per cent of the total turnover Its share price ended 063 per cent higher at Tk 6430 Brac Bank emerged the fourth with shares of Tk 257 million changing hands grabbing 295 per cent of the total turnover The banks share price settled 123 per cent higher at Tk 107 Keya Cosmetics featured a turnover of Tk 247 million or 284 per cent of the total turnover Its share price closed 201 per cent higher at Tk 1520 The turnover of Square Pharma was Tk 241 million or 276 per cent of the total transaction Its share price ended 612 per cent down at Tk 27890 Beximco Pharma featured a turnover of Tk 211 million or 242 per cent of the total turnover Its share price advanced 428 per cent to close at Tk 10960 The turnover of IFAD was Tk 208 million accounting for 238 per cent of the total turnover Its share price closed at Tk 14070 gaining 195 per cent Exim Bank featured a turnover of Tk 196 million or 225 per cent of the total transaction The banks share price inched up 055 per cent to close at Tk 1830 IDLC also made its way to the top ten turnover chart with shares of Tk 188 million changing hands Its share price closed 223 per cent higher at Tk 9150 Source httptodaythefinancialexpresscombdstock-corporateten-cos-grab-32pc-turnover-on-dse-1510245290date=10-11-2017

FOREIGN INVESTMENT HIKE INFO DRIVES MODERATE GAINS ON DSE The Dhaka bourse Thursday closed the session posting a moderate rise in the broad index and turnover amid mixed performance displayed by major sectors On the day most of the major sectors declined but the turnover crossed Tk 80 billion-mark after two sessions on Dhaka Stock Exchange (DSE) mainly because of investors increased participation in the banking sector According to a market review of International Leasing Securities positive momentum in some big-cap stocks especially from bank food and engineering sectors helped the bourse to close in green The market started the session with a positive note and the DSE broad index DSEX witnessed little ups and downs before closing higher According to AT Capital Partners the market remained sideways till the midsession The DSEX rose again in the second half of the session and closed at 61936 up by 345 points The shariah based index DSES and blue chip index DS30 also rose marginally The turnover stood at above Tk 870 billion which was 1370 per cent higher than the turnover of the previous session The confident drive was initiated by the investors buying spree riding on the news of doubling net foreign investment in stocks year-on-year in the first ten months of 2017 said the International Leasing SecuritiesAmong the gaining sectors bank advanced 08 per cent and engineering 03 per cent Of the losing sectors pharmaceuticals amp chemicals declined 11 per cent telecommunication 05 per cent and textiles 09 per cent The banking sector grabbed 384 per cent of the market turnover at the premier bourse DSECity Bank topped the turnover chart with a value of Tk 553 million followed by Dhaka Bank LankaBangla Finance BRAC Bank and Keya CosmeticsReckitt Benckiser (Bd) limited topped the gainers chart with a rise of 624 per cent to close at Tk 18456 while Quasem Drycells was the worst loser after declining 1235 per cent to close at Tk 8230 Source httptodaythefinancialexpresscombdstock-corporateforeign-investment-hike-info-drives-moderate-gains-on-dse-1510245365date=10-11-2017

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MORE JAPANESE COMPANIES SEEK TO INVEST IN BANGLADESH Japanese Ambassador to Bangladesh Hiroyasu Izumi has said the Japanese investors are keen to invest in Bangladesh considering the lucrative offer and ideal atmosphere for foreign investment reports BSS The Japanese investors expressed more interest to invest in Bangladesh at recently-held the third round of Public-Private Economic Dialogue between Bangladesh and Japan he said while visiting the Chittagong Export Processing Zone (CEPZ) on Thursday The envoy expressed the hopes that Japanese investment in the Export Processing Zones (EPZs) will increase after the successful dialogue said a press release More and more Japanese companies will come to invest in this country he added General Manager of CEPZ Khorshid Alam maed a PowerPoint presentation highlighting the overall scenario of EPZ as well as Bangladesh Export Processing Zone Authority (BEPZA) Mentioning Bangladesh EPZs as the Bonanza for Investors he said investors from 38 countries have set up industries in the EPZs and invested US $442 billion He informed the ambassador that BEPZA has ensured three layer security system including 24-hour CCTV surveillance in the key points of EPZ and factory premises for the safety of the investors Source httptodaythefinancialexpresscombdtrade-marketmore-japanese-companies-seek-to-invest-in-bangladesh-1510250285date=10-11-2017

Source httpwwwarthosuchakcomarchives388209

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ও ১৭ ১২ ঋ ও

১০ ও ৩ ১০

৩০ ২০১৬ ৩৫ ৬৩

৫ ( ) ৩ ৪৯

Daily News Flash 12th November 2017

37

Source httpwwwarthosuchakcomarchives387762

lsquo rsquo

( )

lsquo - rsquo

( ) ও

২০০২ ( ২ )

৫৪৬

ও ১৫

ও ১৫ ৭৫ ও

১০-১২ ১

১৫৫ ৬৭

ও ২০১০

ও ও ও -

ঋ ঋ

১৫ ৪ ৩

২ ২ ৪ ১৫ ৬

( )

Source httpwwwarthosuchakcomarchives388276

- ও ও

Daily News Flash 12th November 2017

38

৩৮ ও ৪৩

১০০ ৬১ ৫৮ ২২৫ ১ ০৫

Source httpwwwarthosuchakcomarchives387849

- ও ( -২)

৬ ও

ও ৫ ৩০০

ও ও

৭ ২০০

( ও )

ও ও

ও ও

২ - ও mdashlsquo

rsquo ও

-

৫ ৩০০

- ১০ - ৪২৯ -

৩২৮

- ১০

( )

২০১৪

( ও) ও ( )

( )

২ ও ও

ও ও ও

ও ২০১১- ও

ও ( )

Daily News Flash 12th November 2017

39

(১০ ) ৫ ৭৬৩

৬৩ ও

ও ( )

- ২০১৪ ও

ও ও

Source httpwwwprothom-alocomeconomyarticle1362971

ও ও

ও - ও

২০১৬-১৭ ২০ ও

ও ও lsquo rsquo

ও ১০ ও

৭৭ ২০১৭

১৬ ২৭ ও

২০১৬-২০১৭ ২০ lsquo rsquo

ও-

ও ও ও

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564382

ফ ( ও) ১১

ও ও

ও lsquo১১ ও rsquo

১০ ১৩

( ) ( )

Daily News Flash 12th November 2017

40

- ও

-

( )

( )

lsquo ও

rsquo ও

২৬ ১০

১৬

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564383

১ ৫০

ও ২০৫০

২৩

১৬ ৫৯ ২০১১

২০৩০

( )

ঋ ও ও

৬৮ ৬৭

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564384

ফ lsquo

ও ও

( ) ও

- ও

( ও ) ( )

Daily News Flash 12th November 2017

41

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564388

৪৫ ও

৮৪ ৮৩

৯২০

২৭ ২৪ ৭ ৩

৬ ৮৯

৯ ১ ৭২ ১৪ ৪৮

৪৫

ও ১৭ ৫০

১৯৩ ১০ ২০১৫-১৬ ৪১৩ ১০ ও ও

২০১৪-১৫ ৩৭৫ ৮০ ৩৫ ৭০

২০১৩-১৪ ৫১৫ ও

৮১ ২ ৫১ ৩ ২০

২ ও

৮৪

৮১

- ও

৮৩

৮২ ৯৫

ও ও - ও

ও ও ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17112200 - - - -

ও ৫০

ও ( ) ( )

ও ও

Daily News Flash 12th November 2017

42

ও ও

১০০

৮ ও

৩০০ ( )

ও ১৫০

২০০ ১০০

২০০

২৭ ৭

ও ও

ও ৩০ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111811 - - - -

-

২৭ ১১

১০

( ) ২৮৪

৬ ২৮ ৭ ১৫১

৭৪

ও - ও

ও - ও

ও ৩

৭ ১ ২৩

৯৪৪ ৮৮২ ১০

ও ৪ ৭ ও

৪ ৩৮ ও ১৫ ৪১ ২২ ৭০

২০ ৩৬ ১৩ ও

৪৬ ২২ ২০ ও

১৭ ৩৭১ ও ও

১৭ ও ৪৩ ও

Daily News Flash 12th November 2017

43

৬ ২০ ও ১৬

৩৫ ২০ ২৭

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111810 - - - - -

ও ও

১৩০ ও ১৪০

৫৫ ও ৯৭ ১১৩

৩৭

৩৪

৬১৯৩ ৬২ ১১৬১৭

৩০ ১৯

ও ও

ও - ও

৪৮ ৩১

১২ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111808 - - - - -

৩৫ ও ১০

ও ( ) ও

১০

ও ও -

২ ৩০০

২০১৪ ও

ও ৭ ২০১৪ ও ২০১৫

৫ ৭ ও ১২ ৮ ২৩

২০১৩ ১ ৪২০ ২০১৪ ১০ ৫ ১ ৫৭০

১৩ ৪ ও ১ ৩৫৮ ১০

২০১৬ ও ৩ ৫ ১ ৩১০ ২০১৪

২০১৬ mdash ২ ১ ঋ

১০ ও ২০১৩

২৯ ৮০ ২০১৪ ৫ ৭ ৩১ ৫০ ২০১৫

১২ ৩৫ ৩০ ২০১৬ ৭ ৩৭ ৮০

Daily News Flash 12th November 2017

44

২০১৪ ২০১৬

৩২ ৩৫ ও ৫০ ১৯

৫৬

১৭ ৪৬ ২০১৪ ২০১৬

৭২ ১০০ ও ১১১

২০১৪ ২০১৬ ১৫ ৬৩

৯১ ১১৪ ও ১১৮ ৮ ২৩

৮০ ৯০ ও

ও -

ও -

ও ও ও

১০ ও

১০ ও ২২

৭১ ১২ ৪২

৩২ ২৬ ও

ও ও

( ) ও

ও ২০২১ ও ও

৫ ১ ১৬

ও ও

Source httpbonikbartanetbanglanews2017-11-12137992 - - -- -

৫০০ ৫০০ ও

ও ৩০ ২০১৭

৫০০ ও ঋ ২০১৮

৩০

১ ২০ ও ১৫০

১১

Daily News Flash 12th November 2017

45

৩০০ ৬০০

( ) ও

১ ২৫ ও ১০

১০ ও

ঋ ও

৩০ ২০১৭ ৩ ও ১২ ও

( ) ২ ১৪ ২ ১

ও ৩০ ১১

( ) ও ও

( - ) ৬৬ ৫৫ ৩০

( ) ৩৪ ৯০

ও ও ও

( ) ও

ও ও ২০১৫ ৩০ ১০ ২০১৬

১২

( ) ৪১ ২০ ও ২৩ ৬০

৫০ ও

২০১৪ ৩০০ ও ১৪৮ ৪৬ ৫০

১৯১ ৬২ ৩৭ ৩১

১২ ৪৫ ৫০ ২৪

ও ( ) ১৬ ৫৩

ও ১৫ ২২

Source httpbonikbartanetbanglanews2017-11-12137966৫০০- - - - -ও -

৬৩

- ও ও

৬২ ৯৪ ৫

৬২

৯০

২০১৪ - -

- ও

২০১৬-১৭ ৫ ৬২ ও ২০১৩-১৪

১২

( ) ৯০

-

ও - - ও -

Daily News Flash 12th November 2017

46

- ও

৬২ ৯৪

২০১৩-১৪ ৭০ ৭৮ ২০১৪-১৫ ৫৪ ২২

২০১৫-১৬ ৩৯ ৩৩ ও ২৬ ২৩

ও ২০১৩-১৪

১২ ৩৬ ২০১৪-১৫ ৫ ৯১ ও ২০১৫-

১৬ ১৭ ৩০ ৫ ৬২

৩০ ২০১৭ ১০

২ ৮৬ ও ৩

ও ২৪ ( )

২৭

১৯৬৪ ১২

৪ ও ও ১৯৭২

ও ( )

ও ৩৪ ৮ ও

৯০

৪৫ ও ৫

১৯৬৪ ১৯৭২ ১৯৮৯

১০০ ও ২৬ ১৬ ২০ ৫৪৩ ৭৭

৫ - ৫১ ১৫ ৬০ ও

৩২ ৯০

Source httpbonikbartanetbanglanews2017-11-11137853 - - - - - -৬৩---

( ) ও

১০

ও ও ও

-

ও ও

ও ঋ ও

ও ২০১৪ ও

ও ও

২০১৩

( ) ও

Daily News Flash 12th November 2017

47

২০১৪

২০১৪-১৬ ও

২০১৪

ও ২০১৪

২০১৫ ২৭ lsquo ও rsquo

ও ও

২০১৬ ২৪

( )

ও ও

- ও

ও ও ১৯৮৩ ২০১৬

ঋ ( ) ৫৬০

৮৬৪

২০১৬ ২০১৯ ও

ও ১৫ ২৫ ৩০ ও ৩০

ও ঋ ও

২০১৬ ঋ ১

৩৪২ ঋ ৬ ৫২ ১২৩

ঋ ২ ৪৪৩ ঋ ১০

৮৪ ঋ ৪০

৭২৬

ও ২০১৬ ৭৪১

৪৫৭

২০৭ ২৪৪

১০ ও

ও ও ও ও ও

Daily News Flash 12th November 2017

48

Source httpbonikbartanetbanglanews2017-11-12137998 - - - - - ও- -

( )

৩০ ২০১৭ ২০

( ) ২ ১ ১ ৫৯ (

) ৩০ ( ) ১৫ ৩৭

ও ২৮ ১১

( ) ২৮

২০১৬ ৩০ ১৮ ২০

২০১৪ ও ২০

১৫ ৩০

১৮ ৮০ ও ৯ ৬০

Source httpbonikbartanetbanglanews2017-11-11137850 - - - -

ফ ৭ ২০১৭-১৮ ৭ ৩ ৭৪

( ) ও

( - ) ১ ১৫০ ৫৮

(২০১৬-১৭) ১ ৭৫ ৩ ৬০ ৭

৩ ১ ১৫৯ ২০ ৭৪

ও mdash

৬ ৬৫ ১৭ ৬৩

mdash ও ও

১৫ ৪১ ২২ ৬৯ ১০

১৯ ৬৬ ১০ ২০ ২২

mdash ও ও ও

৩৯ ৫১ ও ২ ও

১৬ ৪৬ ও ও ৬ ৯৯ ও

৩ ৮৫ ৯ ৯৫

১৯ ৮২

৮০

ও ( )

mdash

Daily News Flash 12th November 2017

49

ও ও

Source httpbonikbartanetbanglanews2017-11-10137755 - - - -৭- - --

ফ - ফ ও -ও

-ও

-ও

২৯-১০-২০১১ ৩ ( ) ২৮-১০-২০১৪

৩ ( ) ২৮-১১-২০১৬

২৮-১০-২০১৭ ৩ ( )

২০১৬-১৫৮১৩৪ ৪৪ ০৭-০৮-

২০১২ ১২(৬) ২ ( ) ৬ ( )

-ও - ও ২ ( )

৬ ( ) ও ও

-ও ৩ ( )

-

ও ও

১৯৯৪

২ ২২-০৫-২০১২ -ও ৩

- -

১৯৯৪

-ও

- ও

( )

১৯৯৪

১৯৯৪ -ও

Source httpwwwsharenews24comindexphppage=detailsampnc=1ampnews_id=6587

Daily News Flash 12th November 2017

50

ফ ফ

১৫ ও

-( ) ও

৪৯

১৬ ৮৫

৫১ ৪৯

৪ ৩৬

১৯১৩

১০০ ও ১৯০১ ১৯৬০

Source httpswwwdailystockbangladeshcom - - - -

- ( -১)

( ) ৮

৩০০ ও

( ) ১৬

- ২২৮ ৪৯ ১৮৩ ২০১৮

( ) ও

১৫০

( ) ও ৪০ ৩০

ও ও

ও ও

Source httpswwwdailystockbangladeshcom - - -

Page 14: Daily News Flash, 12th November, 2017 -  · PDF filebanglalink's revenue falls 4.57pc in q3 ... banks lack remedial strategy while npl rises worryingly

Daily News Flash 12th November 2017

14

Another BIBM Supernumerary Professor Helal Ahmed Chowdhury said the cost of sending remittance through banking channels was higher the effect of which was falling on remittance inflow Chowdhury said an initiative has to be taken to slash the cost of transferring remittance to increase the inflow through banking channels SK Sur Chowdhury deputy governor of Bangladesh Bank said remittance flow to Bangladesh declined by 1110 percent in 2016 due to lower oil prices and fiscal policy tightening in the Gulf Cooperation Council countries It is hoped that awareness programmes would encourage non-resident Bangladeshis to come forward to know the importance of channeling their money through banks he said Chowdhury also said to ease the flow in the formal channel Bangladesh Bank has reduced the security deposit requirement for exchange houses abroad to establish drawing arrangements with local banks In addition to their own bank branches and ATM booths banks are now using the branch networks of microfinance institutions and post offices as sub agents for remittance distribution Remittances are also distributed through agent banking such as that provided through Singer Bangladesh Limited outlets he said Furthermore Bangladesh Bank has established a separate ldquoFinancial Integrity and Customer Interest Protection Departmentrdquo to handle complaints and suggestions of customers or stakeholders at home and abroad to ensure smooth and hassle free services The ldquo16236rdquo hotline is to address customers hassles if any He said at the moment no bank can take more than two days in reaching remittance to designated beneficiaries Source httpwwwthedailystarnetbusinessdigital-hundi-shrinks-remittance-flow-through-banks-bibm-1489075

JOINT VENTURE TO PRODUCE 600MW IN MATARBARI

A joint venture between Japans Mitsui amp Co and a state-run Bangladeshi company is going to set up a liquefied natural gas-based power plant at Matarbari in Maheshkhali upazila to produce 600 megawatts of electricity Coal Power Generation Company Bangladesh Ltd yesterday signed a primary agreement with Mitsui amp Co to this effect in Dhaka on Wednesday according to a statement of the power and energy ministry The companies will have 50-50 ownership in the joint venture that will complete the project by 2021 The government has taken initiatives to import a huge amount of LNG from next year Both land-based and floating LNG terminals will be set up The government has approved two floating LNG terminals each of which will supply 500 million cubic feet of gas per day In July state-run Petrobangla and US-based Excelerate Energy signed the final deals to set up Bangladeshs first LNG terminal in Maheshkhali which will supply gas to the national grid from early 2018 The government also awarded Summit Group the work to set up the countrys first floating LNG terminal also in Maheshkhali This one is due for commissioning by next October Source httpwwwthedailystarnetbusinessjoint-venture-produce-600mw-matarbari-1489069

Daily News Flash 12th November 2017

15

EXPORTS TO EU STATES BUT GERMANY POST ENCOURAGING GROWTH

Bangladeshrsquos export earnings from European countries except Germany registered a significant growth in the July-October period of this financial year 2017-18 riding on an excellent performance of readymade garment products According to the Export Promotion Bureau data exports to major European countries registered double digit growth in the four months of FY18 while the RMG export to Germany fell in the period compared with that in the same period of last fiscal year The EPB data showed that Bangladesh suffered a negative export growth in two promising markets mdash Japan and China mdash in the July-October period of FY18 Exporters said that earnings growth in the EU markets increased in recent months as the euro appreciated against the dollar They also said that buyers and brands cut import orders from Bangladesh for their Chinese stores that caused the negative growth Export earnings from the UK the second largest export destination for Bangladesh in the EU grew by 2084 per cent to $134 billion in the four months of FY18 from $111 billion in the same period of FY17 Earnings from apparel products fetched $125 billion with 2227 per cent growth in the period Export earnings from Spain in July-October in FY18 grew by 2581 per cent to $80102 million from $63670 million in the same period of FY17 Export earnings from the Netherlands rose by 3416 per cent to $40108 million in the four months of FY18 Bangladesh earned $58097 million from France with 270 per cent growth and $46374 million from Italy with 1206 per cent growth Exports to Germany the second largest export destination for Bangladesh in the July-October period of FY18 stood at $186 billion the same amount earned in the July-October period of FY17 Anwar-ul-Alam Chowdhury Parvez former president of the Bangladesh Garment Manufacturers and Exporters Association said exports depend on season and the earnings from Germany would increase from November RMG export earnings fell by 039 per cent to $173 billion from $174 billion in the market data showed lsquoWe have to wait to identify the reasons for the stagnancy of growth in the German market Hopefully the export would rebound in the market in the coming monthsrsquo Md Fazlul Haqe former president of the Bangladesh Knitwear Manufacturers and Exporters Association told New Age on Saturday

Daily News Flash 12th November 2017

16

Export earnings from the US the largest destination for Bangladeshrsquos exports in the July-October period of FY18 grew by 228 per cent to $187 billion from $183 billion in the same period of FY17 Apparel export to the market grew by 244 per cent to $168 billion from $164 billion The EPB data showed that the countryrsquos export earnings from Japan in the July-October period of FY18 fell by 394 per cent to $33390 million from $34760 million in the same period of FY17 Export earnings from China in the four months of the FY18 decreased by 2242 per cent to $22475 million from $28971 million in the corresponding period of last fiscal year Parvez said that the domestic consumption in China slightly decreased in recent times and global retailers also cut import orders from Bangladesh for their Chinese stores due to congestions in the Chittagong port lsquoWe are losing many orders from global brands as we have been failing to meet lead time due to the problem in the portrsquo he said Source httpwwwnewagebdnetarticle28200exports-to-eu-states-but-germany-post-encouraging-growth

REHAB LEADERS DEMAND CUT IN TAXES Realtors on Saturday urged the government to cut tax rates at different levels of the housing sector to give a much-needed boost to the sector They also requested the government not to raise question over the source of the minimum paid up capital (Tk 1 crore) a real estate company requires to be a member of the Real Estate and Housing Association of Bangladesh REHAB leaders made the requests at a joint meeting with the National Board of Revenue held in a city hotel on the day NBR chairman Nojibur Rahman attended the meeting as chief guest while REHAB president Alamgir Shamsul Alamin senior vice-president Nurun Nabi Chowdhury Shaon and vice-president Liakat Ali Bhuiyan were also present among others Alamgir said that the REHAB made it mandatory for its member companies to have Tk 1 crore paid up capital and he requested the government not raise question over that money The government earlier made it mandatory for all developer companies to be REHAB members Alamgir also urged the government to form a re-financing fund worth Tk 20000 crore under Bangladesh Bank to provide low-interest and long-term loans to the potential apartment buyers He demanded apartment registration fee to be reduced to 65 per cent from the existing 155 per cent mentioning that other SAARC countries maintained it at 4-7 per cent Alamgir said that the government was losing huge revenue due to the high apartment registration fee as buyers were showing unwillingness to register their apartments at high cost Nurun Nabi urged the government to meet the REHABrsquos longstanding demands to save the housing sector from ruination He also called for reducing corporate tax of non-public traded companies to 20 per cent from the existing 35 per cent He sought a cut in the tax on signing money to 75 per cent from the existing 15 per cent Alamgir also appealed for reducing tax rate on apartment resale to 3 per cent He also sought total 15 per cent tax and VAT on professional services like engineering and architecture from the current 27 per cent Nojibur said that an NBR-REHAB joint working group would be formed to work together for the betterment of the housing sector He also requested REHAB leaders to provide opinions on the income tax law that would be amended soon He assured them that the NBR would consider their demands Source httpwwwnewagebdnetarticle28201rehab-leaders-demand-cut-in-taxes

Daily News Flash 12th November 2017

17

BrsquoDESH BHUTAN START TRADE DATA SHARING IN JAN Bangladesh and Bhutan have decided to start exchanging export-import data from January 1 to verify trade documents to check duty evasion and other customs-related offences through misdeclarations of goods and prices during trades between the two countries The data will be mailed in the first week of the subsequent month according to the decision taken at the 3rd Bangladesh-Bhutan joint group of customs meeting held in November 7-8 in Thimphu the capital of the Himalayan kingdom Initially both sides will exchange export data of three commodities and gradually the scope will be expanded to all the export items Delegations from the both sides also agreed to boost the existing trade volume between the two countries and improve infrastructure at land customs stations of Bangladesh and Bhutan to facilitate border trade Bhutan informed the meeting that they were establishing a mini dry port at Phuentsholing which would boost border trade between the countries National Board of Revenue member (customs audit modernisation and international trade) Khondaker Muhammad Aminur Rahman and Bhutanrsquos Department of Revenue and Customs director Yonten Namgyel led the respective delegations at the meeting Following a request from Bangladesh Bhutan agreed to put necessary information including country of origin name and address business identification number and tax identification number of importer on the export packages as per the current Import Policy Order of Bangladesh Both sides also agreed to hold ground-level customs meetings twice a year alternately at Phuentsholing of Bhutan and Burimari of Bangladesh to resolve customs-related problems smoothly The two countries also decided to raise the issue of improving the infrastructure at Changrabandha (Indian LCS opposite to Burimari of Bangladesh) and Jaigaon (Indian LCS opposite to Bhutanrsquos Phuentsholing) to ensure smooth border trade between the countries Bangladesh also requested the landlocked kingdom to use Nakugaon-Dalu-Gelephu route for their imports and exports as Bangladesh has decided to upgrade Nakugaon LCS as a trade hub for border trade with India and Bhutan Bangladesh side also underscored the potentials of use of riverine routes as mode of transport for export and import of goods Bhutan may also get duty-free market access for limestone powder export to Bangladesh according to the decision of the meeting Mohammad Ehteshamul Hoque NBR first secretary of customs modernisation and international trade on Saturday told New Age that both countries had resolved some small-scale problems to facilitate bilateral trade and committed to further enhancing border trade The planned ground-level meeting of customs officials will also play a role in identifying and resolving bottlenecks in trade between the two nations he said According to the NBR data Bangladesh exported products worth $322 million to Bhutan in the fiscal year 2016-2017 while it imported from the country products worth $3315 million Bangladeshrsquos highest export earnings from the country were $913 million posted in the FY 2011-2012 and the earnings have been declining with fluctuations over the years Bangladeshrsquos major export items to Bhutan are bakery items fruit and vegetable juices tableware kitchenware and toiletry articles of plastics non-alcoholic beverages menrsquos singlets briefs pyjamas medicament mixtures rice aluminium structure and few garment items On the other hand the country imports mainly citrus fruits stone granite dolomite limestone ferro-alloys apple and gypsum from Bhutan Source httpwwwnewagebdnetarticle28202bdesh-bhutan-start-trade-data-sharing-in-jan

Daily News Flash 12th November 2017

18

TAX FAIRS AT ALL ZONES BEGIN TODAY Income tax fair begins today at all income tax zones across the country to provide taxpayers with services in a similar hassle-free atmosphere they got at recently-concluded countrywide weeklong tax fair National Board of Revenue chairman Md Nojibur Rahman on Saturday in a statement said that the decentralised fair at the zones with similar facilities like the weeklong national tax fair would continue till November 30 the last day of income tax returns submission Tax officials will also start issuing income tax ID cards from November 20 to the taxpayers under each tax zone in Dhaka Issuance of ID cards will continue till November 28 There are 31 income tax zones across the country including 15 in Dhaka and four in Chittagong Officials of the revenue board said that the NBR took the decision so that all taxpayers could file their tax returns without any hassle with maximum support from tax officials Initially the NBR planned to issue ID card from November 9 which was deferred due to lack of preparation Source httpwwwnewagebdnetarticle28203tax-fairs-at-all-zones-begin-today

BTRC LIKELY TO LOSE RIGHTS OVER UNUSED BALANCE IN BLOCKED SIMS Mobile phone operators are likely to get relief from paying the government the unused balance in the SIM cards that would be blocked by the telecom regulator for various reasons especially for illegal voice-over internet protocol calls Mobile operators however will have to return the unused balance to its owner if claimed said officials of Bangladesh Telecommunication Regulatory Commission They said that a proposed amendment to the 4G licencing guidelines that would be passed by the telecom regulator in the upcoming commission meeting following instruction from prime ministerrsquos ICT advisor and posts and telecommunication ministry The instruction was made based on a meeting between the mobile phone operators and the government high officials on the proposed 4G licencing guidelines they said As per the BTRC approved draft 4G licencing guidelines that would be revised it was mandatory for all the operators to pay the BTRC the remaining balance amount of the identified illegal prepaid VoIP callers and unsuccessful or fake SIM registration of service connection fund at the time of deactivating them It was also mentioned in the guidelines drafted earlier that there would not be any rights of the mobile network operators over the forfeited account balance of the illegal VoIP callers Whereas it was also mandatory for the operators to pay the remaining balance of such SIM cards within ten days of the following month In case of deactivation of SIM cards for illegal VoIP calls mobile operators would keep the remaining balance while operators would have to pay the balance to its owner if claimed for deactivation of SIM cards for any other reason Such specification about the unused balance would help the operators while the government would lose its rights over the forfeited fund BTRC officials said Such initiative might foil another BTRC move to take stand against the mobile phone operators for non-payment of unused balance in the SIM cards which were blocked by the telecom regulator for various reasons Countryrsquos leading mobile phone operator Grameenphone in February this year deposited Tk 733 crore to the telecom regulator against the unused balance in the connections that were blocked between 2008 and 2014

Daily News Flash 12th November 2017

19

While other operatorsmdash Banglalink Robi Airtel Citycell and Teletalk mdash were yet to pay any fund to the commission in this regard Airtel formerly known as Warid Telecom has already merged with Robi in November 2016 Apart from the unused balance issued the government acknowledged almost all the issues raised by the mobile phone operators about the 4G licencing guidelines BTRC officials said Source httpwwwnewagebdnetarticle28107btrc-likely-to-lose-rights-over-unused-balance-in-blocked-sims

BONDED WAREHOUSE BACK-TO-BACK LC SHOULD BE OPEN TO ALL EXPORTERS Bonded warehouse facility and back-to-back letter of credit facility should be open for all for the export of all sorts of goods to diversify export products said experts and businesses at a workshop on Thursday They came up with the observation while speaking at a stakeholdersrsquo consultation workshop on lsquoExport Diversification Challenges and Prioritiesrsquo organised by Bangladesh Enterprise Institute at IFIC Tower in Dhaka Commonwealth Secretariat adviser and head of international trade and regional cooperation Section Mohammad Razzaque presented a keynote paper on lsquoRevitalising Bangladeshrsquos export trade Policy issues for growth acceleration and diversificationrsquo Razzaque in his presentation said that there should be alternatives of diversifying export destinations and products to achieve $60 billion export target by the year 2021 Although the country has continued to achieve more than 6 per cent growth export to GDP ratio has declined a bit in last couple of years and to increase the ratio for sustaining economic growth there was no alternative to increasing exports he said To facilitate export diversification and ensure equal facility treatment among the exporters all the sectors should get bonded warehouse facility as well as back-to-back letter of credit facility that helped the countryrsquos readymade garment sector to grow Razzaque said Salman F Rahman private sector development advisor to prime minister also said that the bonded warehouse and back-to-back LC facilities should be opened for all to support other exporters Suggesting for the continuation of existing facility for the RMG sector Salman also president of BEI said lsquoWe need product diversification for the economic growth but not at the cost of RMG sectorrsquo Former Dhaka University economics department chairman Wahiduddin Mahmud said that the gov ernment should set a broad category and announce subsidy and cash incentives for longer period to help the sectors to contribute to exports as well as economic growth Speaking about the exchange rate issue the eminent economist also said lsquoAs balance of payment has turned negative the government should not try to control the exchange rate anymorersquo Centre for Policy Dialogue distinguished fellow Mustafizur Rahman said lsquoApart from diversification of other products intra-RMG sector product diversification is also important as we have created a strong foothold in the sector and itrsquos a one trillion dollar marketrsquo Speaking about the repeated change in policy Federation of Bangladesh Chambers of Commerce and Industry president Shafiul Islam Mohiuddin said lsquoElectricity price has been doubled with just a so-called hearing and that led our foreign partners to backtrackrsquo Speaking about the 070 per cent source tax imposed on apparel sector commerce minister Tofail Ahmed said rsquoAlthough we cannot do a lot for the sector but such tax should not remain on the sectorrsquo Source httpwwwnewagebdnetarticle28039bonded-warehouse-back-to-back-lc-should-be-open-to-all-exporters

Daily News Flash 12th November 2017

20

GOVT TO SPEND FUND FOR TOBACCO CONTROL MEASURES CAMPAIGNS The government has finally framed a policy on the use of health development surcharge it imposed on tobacco products three and half years ago The health and family welfare ministry on Wednesday issued the gazette notification of Health Development Surcharge Management Policy-2017 identifying 16 sectors for spending the fund on The fund will mainly be used for limiting the demand for and supply of tobacco products financing tobacco control activities conducting researches and campaigns and operating Tobacco Tax Cell of the National Board of Revenue The revenue board in July 2014 imposed 1 per cent surcharge on all tobacco products both locally produced and imported ones aiming to spend the fund for implementing the programmes to control and discourage the use of tobacco products and prevent tobacco-related diseases In the last three fiscal years (2014-15 2015-16 and 2016-17) the tax authority collected around Tk 900 crore as health development surcharge from tobacco products including cigarette bidi gul zarda and other smoking and chewing tobacco products But the fund remains idle as the health ministry has not got the access to the fund over the years as there was no policy on how to the money be used Officials of the revenue board said that formulation of the policy had paved the way for utilising the fund for tobacco control and prevention of tobacco-related diseases They said that every year around Tk 300 crore would be added to the fund According to the policy the collected surcharge will be used for financing national tobacco control activities operation of the NTCC under the ministry campaigns in the mass media on health hazards of tobacco products and tobacco control and providing trainings to stakeholders The fund will also be used for setting up National Quitline a hotline to help people quit tobacco consumption and providing financial and technical support to organisations for implementation of programmes to prevent tobacco-related non-communicable diseases Programmes will also be taken to create awareness among farmers against tobacco cultivation and motivate them to cultivate alternative crops according to the policy According to the policy a Health Development Surcharge Management Committee headed by the health minister will supervise the proper use of the fund The National Tobacco Control Cell will provide secretarial support to the committee Fund from other sources such as possible imposition of any surcharge on products hazardous to health in future and donations from local and foreign sources will also be added to the fund it said The expenditures from the fund will be audited in line with the methodology followed for the other government agencies it said According to the Global Adult Tobacco Survey-2009 some 413 crore people or 43 per cent of the total population of Bangladesh consume tobacco products On the other hand 430 crore people are victims of indirect smoking According to the World Health Organisationrsquos 2004 data 57000 people die every year in Bangladesh suffering from tobacco-related diseases The government has taken an initiative to make the country smoking free by 2040 Source httpwwwnewagebdnetarticle28040govt-to-spend-fund-for-tobacco-control-measures-campaigns

STUDY BLAMES MOBILE HUNDI FOR FALLING REMITTANCES THRU BANKING CHANNEL A study of Bangladesh Institute of Bank Management on Thursday blamed Hundi through mobile financial services including bKash Rocket mCash and UCash for decreasing remittance through banking channel

Daily News Flash 12th November 2017

21

The study conducted by a six-member team identified distance of bank branches delay in receiving money misconduct by bankers submission of various documents weekly holidays of banks and illegal immigrants as the reasons for increasing remittance inflow through mobile Hundi The six-member team headed by BIBM director Shah Md Ahsan Habib presented the study at the seminar presided over by BIBM director general Toufic Ahmad Choudhury held in the auditorium of the institute in the city lsquoIn Bangladesh remittances declined by an estimated 111 per cent in 2016 in the face of lower oil prices and fiscal tightening in the GCC countries Among other reasons use of Illegal channel by the expatriates is doing harm to our countryrsquo Bangladesh Bank deputy governor Shitangshu Kumar Sur Chowdhury said He said that it would not be possible to stop Hundi totally but BB is working to check the transactions through the illegal channel To ease the formal channel BB has reduced the security deposit requirement for the exchange houses abroad to make arrangements for remittances with local banks Shitangshu said The BB deputy governor hoped that Non-Resident Bangladeshis would come forward to know the importance of their money to be sent through banking channels BB former executive director Yasin Ali said that national economy was being hindered due to remittance inflow through illegal channels He suggested using mobile banking facilities for remittance inflow saying that the area of mobile banking expanded many fold in last five years Helal Ahmed Chowdhury former managing director of Pubali Bank suggested bankers to be courteous with bank customers Source httpwwwnewagebdnetarticle28041study-blames-mobile-hundi-for-falling-remittances-thru-banking-channel

POLICY SUPPORT MUST TO DIVERSIFY EXPORT BASKET Speakers on Thursday said that in order to diversify the countryrsquos export basket export-oriented businesses should be given the policy support that has proved highly successful in bringing vibrancy to the countryrsquos RMG sector They were speaking at a workshop styled ldquoExport Diversification Challenges and Prioritiesrdquo organised by Bangladesh Enterprise Institute (BEI) in the auditorium of International Finance Investment and Commerce Bank in Dhaka Dr Mohammad A Razzaque former head of International Trade Policy at Commonwealth Secretariat in London presented a keynote paper in the programme chaired by Salman F Rahman private sector development advisor to Awami League President and Prime Minister Sheikh Hasina Skill development measures may also play a vital part in this regard Salman said export diversification would be possible only when adequate and appropriate policy support is provided to all export-oriented industries Dr Razzaque in his keynote paper suggested revamping and deepening policy support such as providing cash assistance and bonded warehouse facilities to all such industries to improve their export competitiveness He also highlighted the need for further expanding Bangladeshrsquos export basket as its penetration into global export markets in the last decade was very insignificant Eminent economist Prof Wahiduddin Mahmud said ldquoIn addition to providing subsidies and cash incentives to thriving and promising sectors on a long-term basis the government should take measures to strengthen the countryrsquos manufacturing baserdquo

Daily News Flash 12th November 2017

22

Shafiul Islam Mohiuddin president of the Federation of Bangladesh Chambers of Commerce and Industry said the governmentrsquos support is a must to create a strong manufacturing base for export diversification ldquoSkill development measures may also play a vital part in this regardrdquo Addressing the event as the chief guest Commerce Minister Tofail Ahmed said export diversification depends on businessmenrsquos initiatives He however pledged all necessary support from the government for export diversification to meet the countryrsquos $60 billion export target by 2021 BEI President Farooq Sobhan emphasised engaging the private sector in relevant policy discourses to achieve the target ldquoA private sector-oriented policy mechanism is very important as rapid changes are taking place in the global trade landscape Understanding implications and generating timely policy responses to unfolding developments will be meaningful only when the private sector is able to benefit from themrdquo said Sobhan Among others Mustafizur Rahman a fellow at the Centre for Policy Dialogue Kazi M Aminul Islam executive chairman of Bangladesh Investment Development Authority Bijoy Bhattacharjee vice chairman of Bangladesh Export Promotion Bureau and Md Nojibur Rahman chairman of the National Board of Revenue also spoke Source httpwwwdhakatribunecombusinesseconomy20171109policy-support-must-diversify-export-basket

BANKS LACK REMEDIAL STRATEGY WHILE NPL RISES WORRYINGLY Some of Bangladeshs banks dont have in-depth look into the problem of spiraling non-performing loans (NPL) while many others try to frame remedial strategies perfunctorily Such observations came out from studies on banking as well as financial sector at large as the NPL surge worries many quarters One finding shows that around 11 per cent of the countrys banks did not have an in-depth look into the issue of NPLs in the past year despite a growing concern over the problem in the financial arena The recent industry-wide survey also revealed that around 30 per cent of the countrys banks had not assessed their past NPL-reduction strategies at all while 36 per cent did so only on an ad-hoc basis The findings came out from the survey of the Chief Risk Officers at the banks on issues concerning NPL strategy in their institutions Leading banking research and training institution Bangladesh Institute of Bank Management (BIBM) conducted the study The research findings come at a time when the ballooning NPLs is becoming a major issue with the countrys banking industry and also triggering concerns and criticisms As per the central bank data the volume of NPLs had increased by more than 21 per cent to Tk 62172 billion by the end of 2016 swelling from Tk 51371 billion a year before The findings are genuinely surprising as we are struggling to find a bank for which NPL is not an issue in some capacity said Sazib Azad Senior Advisor of BIBM who led the research initiative Furthermore if the bank itself is immune to the impact of NPL even then they need to consider whether they are immune from structural or market-level impacts as well he told the FE However relevant survey results show the potential lack of such considerations as only 10 per cent of bank CROs taking part in the survey said that their banks are addressing potential dependence on market assessment and strategy What is more surprising is that the NPL strategies of around 62 per cent of the banks are not signed off by the boards the survey found

Daily News Flash 12th November 2017

23

This is quite striking because given the severity of the non-performing-loan issue the NPL strategy should be signed off by the boards Mr Azad said adding Boards are not only accountable for the health of the banks but are also in position to release resources to get to grips with the issue In addition the survey result also revealed 31 per cent of the banks not communicating their NPL strategy across the bank NPL as an issue needs to be addressed from ground up But the results show that this is not happening at our banks said an expert who was involved with research Meanwhile 25 per cent of the CROs said they were not tracking the implementation and effectiveness of NPL strategy in their banks- something which according to experts is a cause of concern Given how critical an issue NPL exposure is we would expect every CRO to track how the NPL strategy is being implemented its effectiveness and how to improve matters to the Board Risk Committee and the Board the banking experts said Meanwhile the survey results also found that although 94 per cent of the banks had stress-tested their balance sheet in terms of NPL drag this figure drops to 56 per cent while considering the impact to and from the wider economy market and structural aspects It seems that 33 per cent of the banks do not formally consider this aspect with a further 11 per cent not looking at this dimension at all the researchers said Experts also noted that with Basel 3 farther putting capital under pressure sensible banks should dynamically model the impact of key risks to their capital However the survey results show 17 per cent of the banks are not doing so while 31 per cent doing it in a limited manner Asked whether their banks risk-appetite-statement metrics reflected their NPL strategy 36 per cent of the respondents said they do so in a limited capacity while a further 80 per cent are not doing that at all It was also found that 25 per cent of the C-Suites have specific NPL-strategy-related targets while 31 per cent of the CROs have the same Meanwhile when asked whether they consider their NPL strategy to be embedded just over half of them or 52 per cent of the survey participants said Yes This according to experts is clearly not fit for purpose given the severity of the NPL issue facing the banking sector The first step in looking into the NPL issue is to assess internal capabilities to effectively manage NPLs Next external conditions or operating environment needs to be considered Finally the capital implications of the NPL strategy need to be analyzed said Sajib Azad The findings of the survey will be shared with the stakeholders during the next CRO forum of BIBM expected to take place next month where the issue of Risk Culture will also figure high The biggest reason for the swelling of NPL in our banking sector is a lack of good governance To check the ballooning of NPL the internal governance of the banks has to be strengthened above all Director-General of BIBM Toufic Ahmad Choudhury said Meanwhile the survey also found banks tending to consider time-horizon portfolio segment and exposure-level-based targets to be broadly equally important to their NPL strategy In terms of options preferred for reducing NPL banks consider change of exposure type to be most effective (36 per cent) followed by active portfolio reductions (33 per cent) and hold forbearance (31 pe rcent) Source httptodaythefinancialexpresscombdfirst-pagebanks-lack-remedial-strategy-while-npl-rises-worryingly-1510417700

GOVT SEEKS US$183B UNDER 39TH JAPANESE ODA PACKAGE The government has sought around US$183 billion worth of assistance from Japan for bankrolling six development projects officials said Saturday

Daily News Flash 12th November 2017

24

Officials at the Ministry of Finance (MoF) said they have already discussed the issue with the Japan International Cooperation Agency (JICA) We are hopeful of receiving funds under its upcoming 39th Official Development Assistance (ODA) package to finance six development projects a senior MoF official told the FE He said a JICA mission in September-October last completed its visit to Bangladesh to explore the possibilities of financing the proposed projects We are hopeful of signing the 39th ODA package with JICA within a couple of months he said After signing the loan deal the largest bilateral donor will start disbursement of funds from the proposed $183 billion aid package for the six development projects the MoF official added The proposed six projects under the 39th ODA package are Matarbari port development Dhaka MRT line-6 construction (phase-III) Dhaka MRT line -5 feasibility study Matarbari ultra super critical coal-fired power plant (phase-IV) Jamuna Railway Bridge construction and Health service strengthening project A senior official of Economic Relations Division said the proposed 39th ODA package will be very useful for Bangladesh as it will be utilised to develop the Matarbari port ongoing Matarbari power plant project conduct feasibility study and detailed design of the MRT line-5 in Dhaka and to construct railway bridge over the River Jamuna All of these projects are very important for the country to ensure smooth transportation and uninterrupted power supply he added Japan is the largest bilateral development partner of Bangladesh Over last 5-6 years it has enhanced its aid with confirmation of more than US$10 billion worth of funds under each of the aid packages In the last 38th ODA package signed in June 2017 JICA provided Yen 178223 billion ($164 billion) for utilising in six development projects on transport infrastructure power and water sector improvement works In June 2016 Japan signed the 37th ODA deal worth $150 billion (17354 billion Japanese Yen) with Bangladesh and in December 2015 it inked the 36th ODA package confirming $12 billion concessional loan for six development projects Under the last 38th ODA package JICA offered $700 million (Yen 76825 billion) for Hazrat Shahjalal International Airport Expansion project $480 million (Yen 5273 billion) for 2nd Kanchpur Meghna and Gumti bridges construction $50 million (Yen 5593 billion) for Dhaka Mass Rapid Transit development project (Line 1) $100 million (Yen 10745 billion) for Matarbari ultra super critical coal-fired power plant $190 million (Yen 20477 billion) for Dhaka underground substation construction project and $110 million (Yen 11853 billion) loan for small scale water resources development project Japan has so far provided Bangladesh with nearly US$12 billion in assistance since the financial year (FY) 1971-72 Source httptodaythefinancialexpresscombdfirst-pagegovt-seeks-us183b-under-39th-japanese-oda-package-1510417739

SUMMIT GROUP ENTITIES TO ISSUE PREFERENCE SHARES WORTH $1250M A subscription closing ceremony to raise capital through issuance of preference shares worth BDT 1000 million (USD 1250 million) for Summit Barisal Power Limited amp Summit Narayanganj Power Unit II Limited was held recently at Pan Pacific Sonargaon Dhaka said a statement LankaBangla Finance Limited acted as the Mandated Arranger LankaBangla Investments Limited acted as the Issue Manager and The City Bank Limited acted as the Agent Account Bank amp Custodian Bank to raise the fund In the event Mr Lt Gen (Retd) Engr Abdul Wadud Managing Director of Summit Barisal Power Limited amp Summit Narayanganj Power Unit II Limited Mr Khwaja Shahriar Managing Director amp

Daily News Flash 12th November 2017

25

CEO of LankaBangla Finance Limited Mr Mohammed Nasir Uddin Chowdhury Managing Director of LankaBangla Capital Market Operations Mr Mominul Islam Managing Director amp CEO of IPDC Finance Limited Mr R Q M Forkan Managing Director amp CEO of Bangladesh Commerce Bank Limited Mr Faruq M Ahmed Additional Managing Director of Trust Bank Limited Mr Akthar Hamid Khan Deputy Managing Director of Pubali Bank Limited Mr Arif Hasan Khan Vice President of Modhumoti Bank Limited Mr Mohammad Ibrahim Khalil FCA Vice President amp CFO of Bank Asia Limited and Mr Mahbub Jamil Vice President and Head of Structured Finance of The City Bank Limited along with other senior officials from the companies were present Source httptodaythefinancialexpresscombdstock-corporatesummit-group-entities-to-issue-preference-shares-worth-1250m-1510411878

BMBA URGES MUHITH TO EXEMPT INVESTMENTS BY MF SPONSORS Bangladesh Merchant Bankers Association (BMBA) has urged the finance minister to exclude some components including sponsors investments in mutual funds (MFs) from the banks exposure to the capital market It made the request for ensuring an environment conducive to gradual development of the capital market according to a proposal submitted to Finance Minister AMA Muhith last week The BMBA said the long-term or strategic investments needed to be excluded while calculating the exposure as these investments were not intended for frequent trading Non-convertible preference shares and non-listed securities also need to be excluded from the capital market exposure as it will never influence the capital market volatility it said in a letter to the minister According to the letter the MFs are passive investments where investors themselves are not involved in investment decision making and such fund portfolios are mostly of long-term nature than frequent trading On the other hand the sponsors of the MFs need to hold 10 per cent of the investment until liquidation of the fund So considering the fact the sponsors portions in MFs need to be excluded from the banks capital exposure said the BMBA proposal As per the Banking Act 1991 it said reporting requirement is on solo basis but the central bank has introduced consolidated calculation which is of dual effectdouble counting in the market exposure This kind of restrictive measure creates panic situation in the market and may hinder the potentials and prospects of the capital market as a whole the BMBA said It also said that this kind of practice needed to be stopped as such requirements and reporting practice would further squeeze the market and that the investors would lose their interest The BMBA said some organisations have invested on strategic purpose and were holding positions in the board and their exposure increased with rising the market price of MF units On the other hand in compliance with the securities rules they are unable to sell shares to reduce exposure the BMBA said terming the situation complicated In its letter the BMBA said that the capital market exposure of some banks and financial institutions increased without fresh investments following the upward trend of the market price as the exposure is calculated on the basis of market price If the banks need to go for selling off their excess exposure this will create unnecessary selling pressure on the market said the BMBA The association requested the finance minister to consider their proposal to facilitate the growth of the capital market by its own strength and prospect Source httptodaythefinancialexpresscombdstock-corporatebmba-urges-muhith-to-exempt-investments-by-mf-sponsors-1510411950

Daily News Flash 12th November 2017

26

ATIUR STRESSES ROLE OF REGULATORS IN DIGITAL FINANCIAL INCLUSION Former Bangladesh Bank Governor Dr Atiur Rahman chairs a session at the 5th Biennial Competition Regulation and Development Conference at Jaipur in India on Thursday Success of digital financial inclusion depends on the prudent role of the regulating bodies to a great extent And the recent progress in Bangladesh in this regard is a good example for the rest of the world to follow said Dr Atiur Rahman former governor of Bangladesh Bank says a statement He was chairing a session at the 5th Biennial Competition Regulation and Development Conference at Jaipur India on Thursday The three-day conference is being hosted by CUTS International and OECD Speakers of the session included Ravinder S Aurora Senior Vice President of Mastercard David Ongolo Kenyan Competition Authority and Dr A K EnamulHaque Professor of East West University Dhaka Many developing countries survived and even thrived during the last global financial crisis because they chose to follow a broad-based financial inclusion strategy And digital solutions played a crucial role in this financial inclusion drive said Dr Rahman He added that service providers must focus on reaching out to the customers in the rural socio-economic conditions Dr Rahman said that experience from Bangladesh can answer many of the burning questions regarding digital financial inclusion The central bank of the country has facilitated bank-led digitisation drive Be it Mobile Financial Service or be it Agent Banking the Bangladesh Bank has encouraged traditional players (ie the commercial banks) to lead the way And it has been proven to be very successful He also said that the world is witnessing only the beginning of the digital finance revolution Hence we must learn from all these experiments share our experiences and know-hows Only then we can work towards shaping global standards and practices Dr Rahman finally asked all central banks to be more proactive and collaborative with other stakeholders including non-traditional financial service providers to facilitate orderly development of digital financial inclusion so that consumers interests are better protected The grievance redressal mechanism developed in Bangladesh Bank with infusion of state of the art technology to gain trust of the customers in financial inclusion was also discussed widely in the session The panelists highly appreciated Bangladeshs regulatory move with public interest in mind using latest technology for replicable digital financial inclusion Source httptodaythefinancialexpresscombdtrade-marketatiur-stresses-role-of-regulators-in-digital-financial-inclusion-1510416319

FAO FEARS NEGATIVE BD FOOD OUTPUT GROWTH ON FLOODING Recent flooding has dampened the outlook for Bangladesh a likely third successive season of little or negative food production growth mainly rice reports UNB quoting FAO Barring major setbacks production recoveries could instead permit Bangladesh and Sri Lanka to slightly lower their 2018 imports to 11 million and 450 000 tonnes respectively according to the latest Food Outlook published by the UN Food and Agriculture Organisation (FAO) Among other rice importers Bangladesh Iraq Nigeria and the Philippines are all similarly predicted to replenish their inventories according to the report a copy of which obtained by the news agency These gains are however likely to be offset by stock reductions in the Republic of Korea Madagascar Sri Lanka and the United Republic of Tanzania all linked to output shortfalls Although the use of rice as animal feed is being sustained by the release of supplies from government granaries in Japan the Republic of Korea and Thailand more affordable feedstuffs are expected to displace rice in most other countries especially in Bangladesh China (Mainland) and Vietnam

Daily News Flash 12th November 2017

27

Since the previous Food Outlook report a series of unfavourable climate-related events have affected main paddy crops in the Northern Hemisphere which have now reached the harvesting stage This has been the case in Asia where unlike 2016 the critical Northern Hemisphere summer months were characterised by mixed growing conditions that inhibited planting expansions As a result FAOs latest forecast of world rice production in 2017 points to a broadly stable output level of 5008 million tonnes Production in Asia is now forecast to fall 550 000 tonnes below the 2016 bumper harvest to 4525 million tonnes The UN agriculture agency has said the cost of importing food is rising in 2017 driven by increased international demand for most food stuffs as well as higher freight charges The cost of importing food is forecast to rise six per cent in 2017 to $1413 trillion making it the second highest bill on record while food commodity prices have been generally stable according to the latest Food Outlook that expressed concern about the economic and social impact of this trend on poor countries Although weather disruptions are set to stall production growth this season global rice supplies are still forecast to exceed utilisation enabling a small expansion of world rice inventories Global trade is expected to rise only modestly in 2018 after staging an 8 per cent recovery in 2017 The food import bills are set to increase by double-digit rates for least-developed countries (LDCs) and low-income food-deficit countries Aromatic rice varieties have risen eight times faster than the FAO All Rice Index which is up four per cent on the year However the higher import costs come at a time when inventories are robust harvest forecasts are strong and food commodity markets remain well supplied The export of tropical fruits is promising for poverty relief and rural development as almost all production takes place in developing countries The export volumes of mango pineapple avocado and papayas are on course to achieve a total combined value of $10 billion this year according to the Food Outlook Source httptodaythefinancialexpresscombdfirst-pagefao-fears-negative-bd-food-output-growth-on-flooding-1510336161date=11-11-2017

STOCKS NUDGE HIGHER AS BANK TELECOM ISSUES SURGE Stocks extended the winning streak for the two consecutive weeks that ended Thursday as enthusiastic investors continued their buying appetite on bank and telecommunication issues Market operators said the positive momentum in some large-cap issues especially from banking telecom pharmaceuticals and food amp allied sectors helped the bourse to stay upbeat The banking sector posted the highest return of 445 per cent as 27 out of 30 listed banks ticked higher Four banks gained more than 10 per cent each The telecom sector also surged 342 per cent as Grameenphone the countrys largest market-cap listed companys shares price jumped 40 per cent to close at Tk 45690 each The market extended the winning streak riding on heavyweight bank and telecom issues said an analyst at a leading brokerage firm The week featured five trading sessions as usual Of them first session saw marginal correction while last four closed higher Week-on-week DSEX the prime index of the Dhaka Stock Exchange (DSE) jacked up by 9454 points or 155 per cent to finish at 6193 The two other indices -- the DS30 index and the DSE Shariah Index (DSES) - also closed higher at 2244 and 1341 points

Daily News Flash 12th November 2017

28

Both the indices added 4264 points and 1218 points respectively During the week banking pharmaceuticals and telecommunication sector stocks contributed more to keep the market up commented City Bank Capital Resources a merchant bank in its weekly analysis The port city bourse Chittagong Stock Exchange (CSE) also ended higher The CSCX advanced 180 points or 156 per cent to finish at 11618 International Leasing Securities a stockbroker noted that the market observed an upbeat vibe throughout the week riding on the news of soaring of net foreign investment in the capital market in the first 10 months of 2017 compared to the same period of last year Net position of foreign portfolio with the DSE stood at Tk 1623 billion in January-October compared to Tk 80 billion in the same period a year ago However some investors were reshuffling their portfolios after observing the year-end corporate declarations and first quarter earning disclosures the stockbroker added According to EBL Securities The market witnessed an upbeat tune throughout the week riding on regained confidence among the market participants The stockbroker noted that preferable year-end and quarter-end earnings declarations by several companies helped them to remain positive about market The total turnover for the week amounted to Tk 3591 billion on the DSE which was Tk 3027 billion in the week before The daily turnover averaged Tk 718 billion which was nearly 19 per cent higher than the previous weeks average of Tk 605 billion Block trade accounted for 16 per cent of the total weekly turnover where stocks like BATBC Beximco Pharma Shahjalal Islami Bank Square Pharma and Singer Bangladesh dominated the block trade board Banking sector kept its dominance over the turnover chart grabbing 35 per cent of the weeks total transaction followed by engineering with 18 per cent and pharmaceuticals 11 per cent Out of 336 issues traded 207 closed lower 116 ended higher and 13 issues remained unchanged on the DSE trading floor during the week The market capitalisation of the DSE rose 137 per cent as it was Tk 4123 billion on the opening day of the week and it stood at Tk 4179 billion on closing day of the week City Bank topped the weeks turnover chart with 5390 million shares worth Tk 184 billion changing hands followed by IFAD Autos with Tk 121 billion Brac Bank Tk 10 billion LankaBangla Finance Tk 994 million and Dhaka Bank Tk 926 million Reckitt Benckiser was the weeks best performer posting a gain of 1925 per cent while Stylecraft was the weeks worst loser slumping by 3322 per cent A new issue - Oimex Electrode-- made debut last week and soared 1042 per cent from its offer price of Tk 10 in the first trading day on Monday Source httptodaythefinancialexpresscombdstock-corporatestocks-nudge-higher-as-bank-telecom-issues-surge-1510332934date=11-11-2017

BANGLADESH GROWING AS DENIM HUB The growing global demand for fashionable denim wear encouraged both local and foreign entrepreneurs to make fresh investment in Bangladesh participants and organisers of Bangladesh Denim Expo have said Many of the 30 local denim mills are going for expansion while a couple more will come into operation with fresh investment within next two or three years they said Some foreign companies are opening offices or setting up factories in Bangladesh they added The seventh edition of the two-day Bangladesh Denim Expo was held in the city recently with the theme transparency to highlight the need for transparency in the entire denim supply chain

Daily News Flash 12th November 2017

29

A total of 65 exhibitors from 12 countries participated in the show while more than 12 thousand visitors from across the world registered online to attend the two-day expo organisers said Talking to the FE on the sidelines of the expo Md Khalid Mosharof assistant general manager at Dekko Group said the group invested Tk 15 million in setting up a new factory of 44 lines at Ashulia that would go for denim item production in June next The main reason is to tap the growing global demand he said Echoing him Syeed Ahmed Chowdhury general manager operation at Square Denim said the company expanded its denim fabric production capacity to 30 million yards from the existing 15 million yards per month mainly to meet the demand He however opined that the expansion is taking place more in garment segments than in fabric production There is no alternative to expansion to sustain the existing business and achieve the $50 billion garment export earnings target by 2021 Sharif Zahir managing director of Ananta Group said stressing the need for positive branding of the sector Meanwhile Landes a German denim accessories maker started production in its new factory at Savar from this month It invested US $05 million We opened the factory in Bangladesh as we think this is the hub for denim business and there is a lot of business prospects here Manfred Slowik chief operating officer of Landes told the FE at his stall at the expo By the end of next year the total workforce in our new plant will be 120 people as we are recruiting new people from existing 30 Mr Slowik said Landes has a target to produce 500 million pieces of leather patches used in denim trousers as accessories in a year at its Savar plant from where such accessories will be supplied to the whole Asian region Many big brands like HampM VF and Walmart are their customers he said Nezahat Boni senior account manager of Orta a Turkish denim maker said her company supplies 30 million metres of denim fabrics in Bangladesh in a year against only 800 meters in 2011 We opened an office in Bangladesh in 2011 as we cannot ignore the importance of this country as a denim hub she said Prosperity Textile a Chinese company opened its office in Dhaka last year said Md Mujibul Hoque the companys Bangladesh Sales Director The company has targeted sale of 100 million yards a year across the globe while it also targets 30-40 per cent of their sales in Bangladesh Bangladesh is now the top denim products supplier to the European Union overtaking China and third largest to the US after China and Mexico industry people said Bangladesh supplies denim products to major global buyers and retailers including levis G-Star Raw HampM Tesco Wrangler Hugo Boss Walmart and Gap Source httptodaythefinancialexpresscombdtrade-marketbangladesh-growing-as-denim-hub-1510332061date=11-11-2017

EXPORTS UP 70PC IN JULY-OCTOBER Countrys export earnings grew by 703 per cent to US$1150 billion during first four months of the current fiscal year (FY 2017-18) according to official data released Thursday The earnings were $1079 billion in the same period (July-October) last FY In October 2017 the exports grew by 642 per cent to $284 billion the Export Promotion Bureau (EPB) data showed The overall exports in the first four months slightly (074 per cent) fell short of the periods target In October however the exports were 628 per cent higher than the months strategic target Readymade garment shipments fetched $943 billion marking 699 per cent growth during the period as compared to $882 billion in the same period of last FY

Daily News Flash 12th November 2017

30

The woven items registered 385 per cent growth in earnings to $445 billion than that of $428 billion in the same period of FY 2016-17 The earnings from knitwear export during the period grew by 995 per cent to $498 billion from $453 billion in the corresponding period of last FY Jute and jute goods exports rose by 1646 per cent to $34501 million from $29626 million in the same period of FY17 The earnings from agriculture products grew by 2022 per cent during the period while home textiles by 2037 per cent The earnings from leather and leather products however fell marginally by 002 per cent to $42844 million during the period than that of $42851 million in the same period last FY The export earnings from frozen food and live fish grew by 1541 per cent to $22691 million from $19661 million of the corresponding period of last fiscal Mahmud Hasan Khan vice president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) said the exports in the first four months of the current fiscal year fell short of the expected growth mainly because of failure in maintaining the lead time and short supply of gas and electricity Terming the knitwears growth satisfactory he said woven items manufacturers have been struggling to cope with the new challenge as buyers were reducing the volume of orders due to failure in meeting the lead time Without efficient port and strong backward linkage industry especially for the woven sub-sector it will be difficult for the sub-sector to bounce back he feared He pointed out that maximum of the woven fabric requirements were being met through imports But it was taking too much time to clear the imported fabrics and additional charges as a result at the Chittagong seaport that was facing unbearable congestion The government should provide necessary policy support to the exporters to establish strong backward linkage industry for the woven sub-sector he added Source httptodaythefinancialexpresscombdfirst-pageexports-up-70pc-in-july-october-1510248870date=10-11-2017

GAS CRISIS HURTING OUTPUT IN INDUSTRIAL BELT Factories in the countrys Tongi-Gazipur industrial belt have been facing acute gas crisis over the past few months following diversion of gas to upstream power plants The crisis has deteriorated further this week albeit some improvements for a few days last week said local industrialists and businessmen According to them if the ongoing gas crisis persists they may be forced to shut down their factories Officials of the Titas Gas Transmission and Distribution Company Limited (TGTDCL) however blamed the Petrobangla for the gas crunch Sources concerned say the industrial belt of Tongi-Gazipur is suffering badly for about four to five months from low pressure of gas coupled with poor electricity voltage -- often resulting in huge volume of industrial wastages and reduction of production efficiency According to the industry insiders a factory in the industrial belt requires 04 PSI (production per square inch) as optimum gas pressure but the pressure at times comes down to as low as 01 PSI these days -- especially during the daytime Gas pressure in the area becomes normal around 10pm11pm and stays for not more than 08 hours until 6am7am an entrepreneur of the industrial belt informed Asked an official of Titas said they are at present getting nearly 250 million cubic meters (MCM) less in recent weeks against their current demand of 1800 MCM gas in Titas franchise The downstream Titas franchise area covers greater Dhaka region which includes Gazipur alongside some other adjoining districts and greater Mymensingh he said

Daily News Flash 12th November 2017

31

A Petrobangla source however cited gas supply on priority basis to a number of upstream projects including power plants as reason behind supply shortage When asked Managing Director of Akij Group Sk Bashir Uddin termed the situation really worrisome According to him two of Akij Group companies situated in the area -- Akij Printing amp Packages Limited and Dhaka Tobacco Industries -- jointly contributed nearly Tk 35 billion (3500 crore) to the national exchequer in the 2016-17 fiscal year But were very much worried about our industrial output this year as production disruption following the twin crises involving gas supply and power supply Both will eventually disrupt our retail business in every phase he quipped This often results in a high rate of industrial wastage and reduction of production efficiency he added Bangladesh Auto Re-rolling Steel Mills amp Association Chairman Manwar Hossain who is also Anwar Group Managing Director echoed the same concern Factories in the industrial belt are now operating at one-third of their capacity which may lead to labour unrest and default of huge sum of bank loans he said Such disruption of production he cautions may even cause sudden shutdown of factories According to him none of the victims in that case will be the wilful defaulters -- they will be the victims of circumstances The businessman who has a steel factory called Anwar Ispat Limited in the industrial belt called for immediate introduction of ECM (electronically controlled meters) to check unabated gas engineering in the area which he deems to be yet another reason for gas supply crunch Titas officials according to him are encouraging co-generation scheme to help address the severe gas crisis But he said co-generation will require stable and smooth gas supply Government should ensure at least 10-15 years of smooth gas supply to encourage co-generation as what he said any industrial investment requires 20 years of payback period TGTDCL Deputy Managing Director Engineer Abdul Wahab Talukdar who is also the Project Director of Sripur-Joydevpur Transmission Pipeline Project said We cannot do anything to address the crisis if there is a lack of adequate gas supply Mentioning that all factories in the industrial belt are like my babies he unequivocally said Titas is not at fault He also admitted that priority-based power plants gas supply being the reason behind the current spell of gas crunch We have already started introducing electronic volumetric corrector (EVC) to stop illegal gas use in the area he said Factories he added should go for co-generation scheme for protecting their own interest Co-generation means utilising and absorbing heat generated from gas generators which Mr Wahab said will save energy A section of the businessmen however called for stopping fertiliser production and distributing the same among people at a subsidised price after importing it to facilitate smooth supply of gas to other industries Even if the government stops fertiliser production and opts for importing it for distribution at a subsidised rate there will only be an insignificant loss compared to the overall losses now being incurred said an industrialist who has more than one factory in the industrial belt Local sources said illegal and unapproved gas connections in various industries in and around the zone are also affecting gas supply badly among other reasons Source httptodaythefinancialexpresscombdfirst-pagegas-crisis-hurting-output-in-industrial-belt-1510249018date=10-11-2017

Daily News Flash 12th November 2017

32

SINGLE PERSON MAY FORM COMPANY A single person may form a commercial firm under a provision of the companies law being updated along with some other major business-stimulating measures Official sources said the government is considering incorporating some new provisions including one allowing individuals to form any company into the updated Companies Act The other provisions are formation of an appellate tribunal to resolve legal matters without wasting much time widespread automation of companies work and submission of annual company reports online Earlier the Ministry of Commerce (MoC) had received some recommendations from the stakeholders on how to update the law they added We got most of the recommendations from the stakeholders We hope we will be able to prepare the draft Companies Act within a month Md Obaidul Azam director trade organisations (DTO) told the FE He said the recommendations the ministry had received so far were being scrutinised before preparing a draft for updating the companies act Earlier different trade bodies had sent their respective recommendations to the MoC for incorporation into the law The MoC will hold a meeting with the countrys apex trade body after assessing the recommendations and suggestions the ministry official said Talking to the FE a leader of an influential trade body said they had sent some recommendationssuggestions to the MoC for the new Companies Act for betterment of the countrys trade and business According to Section 2 (1) (c) of the Companies Act 1994 Company means a company formed and registered under this Act or an existing company Thus a company is an association of persons formed under the Companies Act 1994 with a view to achieving some common objectives Though a company is regarded a legal person it possesses similar rights and owes similar obligations like a natural person Now any individual fulfilling the new criteria may be allowed to form a firm Source httptodaythefinancialexpresscombdfirst-pagesingle-person-may-form-company-1510249090date=10-11-2017

DSE TURNOVER CROSSES TK 80 BILLION MARK The daily turnover on Dhaka Stock Exchange (DSE) exceeded the Tk 80 billion mark on Thursday as investors took fresh exposure to the banking sector Turnover a crucial indicator of the market reached Tk 870 billion on the countrys premier bourse jumping 14 per cent from the previous days transaction of Tk 765 billion It was the biggest single-day transaction since October 11 when the turnover totalled a record Tk 1092 billion Along with rising turnover DSEX the prime index of the Dhaka bourse continued to keep its gaining momentum closing 3449 points higher at 6193 points DSEX which replaced the DGEN in nearly five years back added more than 121 points or 20 per cent in the past four consecutive sessions The two other indices -- the DS30 index and the DSE Shariah Index (DSES) -- also followed suit to end at 2244 and 1341 points after gaining 1422 points and 443 points respectively Brokers said the market maintained the bullish trend for the four straight sessions as the enthusiastic investors chased the banking sector stocks The market continued the bullish trend for the four consecutive sessions as the enthusiastic investors were active for the banking food and engineering sector stocks commented EBL Securities a stockbroker in its regular market analysis

Daily News Flash 12th November 2017

33

It noted that the core index remained positive throughout the session as optimistic investors kept buying sector-wise stocks while some rebalanced their portfolios Meanwhile share price of newly listed Oimex Electrode continued to decline for the three consecutive sessions after unusual hike during its debut trading on Monday The companys share price fell 763 per cent to close at Tk 9810 on Thursday after jumping more than tenfold during the debut trading which experts termed unusual Block trade contributed Tk 241 million to the days total turnover with stocks like BATBC Square Pharmaceuticals Singer Bangladesh and Beximco Pharma dominating the block trade board Among the major sectors pharmaceuticals posted the highest gain of 122 per cent followed by banking sector (083 per cent) food amp allied (067 per cent) engineering (033 per cent) financial institutions (003 per cent) and power (003 per cent) Only telecommunication sector faced a 045 per cent correction A total number of 0140 million trades were executed in the days trading session with trading volume totalling 23171 million securities The total market capitalisation of the DSE stood at Tk 4179 billion against Tk 4168 billion in the previous session Losers however took a modest lead over the gainers as out of 325 issues traded 140 closed lower 130 closed higher and 55 remained unchanged on the DSE trading floor City Bank dominated the turnover chart for the second day in a row with 1035 million shares changing hands closely followed by Dhaka Bank LankaBangla Finance Brac Bank and Keya Cosmetics Reckitt Benckiser was also the days best performer posting a gain of 624 per cent while Qasem Drycells was the days biggest loser shedding 1235 per cent The port city bourse Chittagong Stock Exchange (CSE) also ended higher with its Selective Categories Index -- CSCX --gaining more than 62 points to close at 11618 Losers beat gainers as 113 issues closed lower 97 closed higher and 37 remained unchanged on the CSE The port city bourse traded 1604 million shares and mutual fund units generating a turnover of Tk 483 million Source httptodaythefinancialexpresscombdstock-corporatedse-turnover-crosses-tk-80-billion-mark-1510245247date=10-11-2017

TEN COS GRAB 32PC TURNOVER ON DSE The banking sector continued to dominate the transaction chart of the Dhaka Stock Exchange (DSE) accounting for 39 per cent of the total turnover on Thursday Four banks made their way to the top 10 turnover chart with City Bank leading the chart for the second day in a row Brokers said the investors chased the banking sector issues as more than 63 per cent of listed banks showed positive earnings in the third quarter (July-September period) Meanwhile top 10 traded companies including four banks grabbed more than 32 per cent of turnover on the Dhaka bourse The total turnover on the premier bourse reached Tk 870 billion up 14 per cent from the previous days Tk 765 billion The most active shares in terms of value included City Bank Dhaka Bank LankaBangla Finance Brac Bank Keya Cosmetics Square Pharmaceuticals Beximco Pharmaceuticals IFAD Autos Exim Bank and IDLC Finance According to statistics available with the DSE about 1035 million shares of City Bank were traded generating a turnover of Tk 553 million or 635 per cent of the total transactions

Daily News Flash 12th November 2017

34

The companys share price hovered between Tk 5240 and Tk 5440 before closing at Tk 5390 advancing 228 per cent over the previous session Dhaka Bank came in next with shares of Tk 395 million changing hands contributing 454 per cent to the total turnover The banks share price closed 347 per cent higher at Tk 2380 LankaBangla notched the third spot with shares of Tk 266 million changing hands making up 305 per cent of the total turnover Its share price ended 063 per cent higher at Tk 6430 Brac Bank emerged the fourth with shares of Tk 257 million changing hands grabbing 295 per cent of the total turnover The banks share price settled 123 per cent higher at Tk 107 Keya Cosmetics featured a turnover of Tk 247 million or 284 per cent of the total turnover Its share price closed 201 per cent higher at Tk 1520 The turnover of Square Pharma was Tk 241 million or 276 per cent of the total transaction Its share price ended 612 per cent down at Tk 27890 Beximco Pharma featured a turnover of Tk 211 million or 242 per cent of the total turnover Its share price advanced 428 per cent to close at Tk 10960 The turnover of IFAD was Tk 208 million accounting for 238 per cent of the total turnover Its share price closed at Tk 14070 gaining 195 per cent Exim Bank featured a turnover of Tk 196 million or 225 per cent of the total transaction The banks share price inched up 055 per cent to close at Tk 1830 IDLC also made its way to the top ten turnover chart with shares of Tk 188 million changing hands Its share price closed 223 per cent higher at Tk 9150 Source httptodaythefinancialexpresscombdstock-corporateten-cos-grab-32pc-turnover-on-dse-1510245290date=10-11-2017

FOREIGN INVESTMENT HIKE INFO DRIVES MODERATE GAINS ON DSE The Dhaka bourse Thursday closed the session posting a moderate rise in the broad index and turnover amid mixed performance displayed by major sectors On the day most of the major sectors declined but the turnover crossed Tk 80 billion-mark after two sessions on Dhaka Stock Exchange (DSE) mainly because of investors increased participation in the banking sector According to a market review of International Leasing Securities positive momentum in some big-cap stocks especially from bank food and engineering sectors helped the bourse to close in green The market started the session with a positive note and the DSE broad index DSEX witnessed little ups and downs before closing higher According to AT Capital Partners the market remained sideways till the midsession The DSEX rose again in the second half of the session and closed at 61936 up by 345 points The shariah based index DSES and blue chip index DS30 also rose marginally The turnover stood at above Tk 870 billion which was 1370 per cent higher than the turnover of the previous session The confident drive was initiated by the investors buying spree riding on the news of doubling net foreign investment in stocks year-on-year in the first ten months of 2017 said the International Leasing SecuritiesAmong the gaining sectors bank advanced 08 per cent and engineering 03 per cent Of the losing sectors pharmaceuticals amp chemicals declined 11 per cent telecommunication 05 per cent and textiles 09 per cent The banking sector grabbed 384 per cent of the market turnover at the premier bourse DSECity Bank topped the turnover chart with a value of Tk 553 million followed by Dhaka Bank LankaBangla Finance BRAC Bank and Keya CosmeticsReckitt Benckiser (Bd) limited topped the gainers chart with a rise of 624 per cent to close at Tk 18456 while Quasem Drycells was the worst loser after declining 1235 per cent to close at Tk 8230 Source httptodaythefinancialexpresscombdstock-corporateforeign-investment-hike-info-drives-moderate-gains-on-dse-1510245365date=10-11-2017

Daily News Flash 12th November 2017

35

MORE JAPANESE COMPANIES SEEK TO INVEST IN BANGLADESH Japanese Ambassador to Bangladesh Hiroyasu Izumi has said the Japanese investors are keen to invest in Bangladesh considering the lucrative offer and ideal atmosphere for foreign investment reports BSS The Japanese investors expressed more interest to invest in Bangladesh at recently-held the third round of Public-Private Economic Dialogue between Bangladesh and Japan he said while visiting the Chittagong Export Processing Zone (CEPZ) on Thursday The envoy expressed the hopes that Japanese investment in the Export Processing Zones (EPZs) will increase after the successful dialogue said a press release More and more Japanese companies will come to invest in this country he added General Manager of CEPZ Khorshid Alam maed a PowerPoint presentation highlighting the overall scenario of EPZ as well as Bangladesh Export Processing Zone Authority (BEPZA) Mentioning Bangladesh EPZs as the Bonanza for Investors he said investors from 38 countries have set up industries in the EPZs and invested US $442 billion He informed the ambassador that BEPZA has ensured three layer security system including 24-hour CCTV surveillance in the key points of EPZ and factory premises for the safety of the investors Source httptodaythefinancialexpresscombdtrade-marketmore-japanese-companies-seek-to-invest-in-bangladesh-1510250285date=10-11-2017

Source httpwwwarthosuchakcomarchives388209

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Source httpwwwarthosuchakcomarchives388257

Daily News Flash 12th November 2017

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Source httpwwwarthosuchakcomarchives388125

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Source httpwwwarthosuchakcomarchives388085

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Daily News Flash 12th November 2017

37

Source httpwwwarthosuchakcomarchives387762

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Source httpwwwarthosuchakcomarchives388276

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Daily News Flash 12th November 2017

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Source httpwwwarthosuchakcomarchives387849

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Daily News Flash 12th November 2017

39

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Source httpwwwprothom-alocomeconomyarticle1362971

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Source httpwwwkalerkanthocomprint-editionindustry-business20171112564382

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Daily News Flash 12th November 2017

40

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Source httpwwwkalerkanthocomprint-editionindustry-business20171112564383

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Source httpwwwkalerkanthocomprint-editionindustry-business20171112564384

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Daily News Flash 12th November 2017

41

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564388

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Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17112200 - - - -

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Daily News Flash 12th November 2017

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Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111811 - - - -

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Daily News Flash 12th November 2017

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৬ ২০ ও ১৬

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Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111810 - - - - -

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Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111808 - - - - -

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Daily News Flash 12th November 2017

44

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Source httpbonikbartanetbanglanews2017-11-12137992 - - -- -

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Daily News Flash 12th November 2017

45

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( ) ও

ও ও ২০১৫ ৩০ ১০ ২০১৬

১২

( ) ৪১ ২০ ও ২৩ ৬০

৫০ ও

২০১৪ ৩০০ ও ১৪৮ ৪৬ ৫০

১৯১ ৬২ ৩৭ ৩১

১২ ৪৫ ৫০ ২৪

ও ( ) ১৬ ৫৩

ও ১৫ ২২

Source httpbonikbartanetbanglanews2017-11-12137966৫০০- - - - -ও -

৬৩

- ও ও

৬২ ৯৪ ৫

৬২

৯০

২০১৪ - -

- ও

২০১৬-১৭ ৫ ৬২ ও ২০১৩-১৪

১২

( ) ৯০

-

ও - - ও -

Daily News Flash 12th November 2017

46

- ও

৬২ ৯৪

২০১৩-১৪ ৭০ ৭৮ ২০১৪-১৫ ৫৪ ২২

২০১৫-১৬ ৩৯ ৩৩ ও ২৬ ২৩

ও ২০১৩-১৪

১২ ৩৬ ২০১৪-১৫ ৫ ৯১ ও ২০১৫-

১৬ ১৭ ৩০ ৫ ৬২

৩০ ২০১৭ ১০

২ ৮৬ ও ৩

ও ২৪ ( )

২৭

১৯৬৪ ১২

৪ ও ও ১৯৭২

ও ( )

ও ৩৪ ৮ ও

৯০

৪৫ ও ৫

১৯৬৪ ১৯৭২ ১৯৮৯

১০০ ও ২৬ ১৬ ২০ ৫৪৩ ৭৭

৫ - ৫১ ১৫ ৬০ ও

৩২ ৯০

Source httpbonikbartanetbanglanews2017-11-11137853 - - - - - -৬৩---

( ) ও

১০

ও ও ও

-

ও ও

ও ঋ ও

ও ২০১৪ ও

ও ও

২০১৩

( ) ও

Daily News Flash 12th November 2017

47

২০১৪

২০১৪-১৬ ও

২০১৪

ও ২০১৪

২০১৫ ২৭ lsquo ও rsquo

ও ও

২০১৬ ২৪

( )

ও ও

- ও

ও ও ১৯৮৩ ২০১৬

ঋ ( ) ৫৬০

৮৬৪

২০১৬ ২০১৯ ও

ও ১৫ ২৫ ৩০ ও ৩০

ও ঋ ও

২০১৬ ঋ ১

৩৪২ ঋ ৬ ৫২ ১২৩

ঋ ২ ৪৪৩ ঋ ১০

৮৪ ঋ ৪০

৭২৬

ও ২০১৬ ৭৪১

৪৫৭

২০৭ ২৪৪

১০ ও

ও ও ও ও ও

Daily News Flash 12th November 2017

48

Source httpbonikbartanetbanglanews2017-11-12137998 - - - - - ও- -

( )

৩০ ২০১৭ ২০

( ) ২ ১ ১ ৫৯ (

) ৩০ ( ) ১৫ ৩৭

ও ২৮ ১১

( ) ২৮

২০১৬ ৩০ ১৮ ২০

২০১৪ ও ২০

১৫ ৩০

১৮ ৮০ ও ৯ ৬০

Source httpbonikbartanetbanglanews2017-11-11137850 - - - -

ফ ৭ ২০১৭-১৮ ৭ ৩ ৭৪

( ) ও

( - ) ১ ১৫০ ৫৮

(২০১৬-১৭) ১ ৭৫ ৩ ৬০ ৭

৩ ১ ১৫৯ ২০ ৭৪

ও mdash

৬ ৬৫ ১৭ ৬৩

mdash ও ও

১৫ ৪১ ২২ ৬৯ ১০

১৯ ৬৬ ১০ ২০ ২২

mdash ও ও ও

৩৯ ৫১ ও ২ ও

১৬ ৪৬ ও ও ৬ ৯৯ ও

৩ ৮৫ ৯ ৯৫

১৯ ৮২

৮০

ও ( )

mdash

Daily News Flash 12th November 2017

49

ও ও

Source httpbonikbartanetbanglanews2017-11-10137755 - - - -৭- - --

ফ - ফ ও -ও

-ও

-ও

২৯-১০-২০১১ ৩ ( ) ২৮-১০-২০১৪

৩ ( ) ২৮-১১-২০১৬

২৮-১০-২০১৭ ৩ ( )

২০১৬-১৫৮১৩৪ ৪৪ ০৭-০৮-

২০১২ ১২(৬) ২ ( ) ৬ ( )

-ও - ও ২ ( )

৬ ( ) ও ও

-ও ৩ ( )

-

ও ও

১৯৯৪

২ ২২-০৫-২০১২ -ও ৩

- -

১৯৯৪

-ও

- ও

( )

১৯৯৪

১৯৯৪ -ও

Source httpwwwsharenews24comindexphppage=detailsampnc=1ampnews_id=6587

Daily News Flash 12th November 2017

50

ফ ফ

১৫ ও

-( ) ও

৪৯

১৬ ৮৫

৫১ ৪৯

৪ ৩৬

১৯১৩

১০০ ও ১৯০১ ১৯৬০

Source httpswwwdailystockbangladeshcom - - - -

- ( -১)

( ) ৮

৩০০ ও

( ) ১৬

- ২২৮ ৪৯ ১৮৩ ২০১৮

( ) ও

১৫০

( ) ও ৪০ ৩০

ও ও

ও ও

Source httpswwwdailystockbangladeshcom - - -

Page 15: Daily News Flash, 12th November, 2017 -  · PDF filebanglalink's revenue falls 4.57pc in q3 ... banks lack remedial strategy while npl rises worryingly

Daily News Flash 12th November 2017

15

EXPORTS TO EU STATES BUT GERMANY POST ENCOURAGING GROWTH

Bangladeshrsquos export earnings from European countries except Germany registered a significant growth in the July-October period of this financial year 2017-18 riding on an excellent performance of readymade garment products According to the Export Promotion Bureau data exports to major European countries registered double digit growth in the four months of FY18 while the RMG export to Germany fell in the period compared with that in the same period of last fiscal year The EPB data showed that Bangladesh suffered a negative export growth in two promising markets mdash Japan and China mdash in the July-October period of FY18 Exporters said that earnings growth in the EU markets increased in recent months as the euro appreciated against the dollar They also said that buyers and brands cut import orders from Bangladesh for their Chinese stores that caused the negative growth Export earnings from the UK the second largest export destination for Bangladesh in the EU grew by 2084 per cent to $134 billion in the four months of FY18 from $111 billion in the same period of FY17 Earnings from apparel products fetched $125 billion with 2227 per cent growth in the period Export earnings from Spain in July-October in FY18 grew by 2581 per cent to $80102 million from $63670 million in the same period of FY17 Export earnings from the Netherlands rose by 3416 per cent to $40108 million in the four months of FY18 Bangladesh earned $58097 million from France with 270 per cent growth and $46374 million from Italy with 1206 per cent growth Exports to Germany the second largest export destination for Bangladesh in the July-October period of FY18 stood at $186 billion the same amount earned in the July-October period of FY17 Anwar-ul-Alam Chowdhury Parvez former president of the Bangladesh Garment Manufacturers and Exporters Association said exports depend on season and the earnings from Germany would increase from November RMG export earnings fell by 039 per cent to $173 billion from $174 billion in the market data showed lsquoWe have to wait to identify the reasons for the stagnancy of growth in the German market Hopefully the export would rebound in the market in the coming monthsrsquo Md Fazlul Haqe former president of the Bangladesh Knitwear Manufacturers and Exporters Association told New Age on Saturday

Daily News Flash 12th November 2017

16

Export earnings from the US the largest destination for Bangladeshrsquos exports in the July-October period of FY18 grew by 228 per cent to $187 billion from $183 billion in the same period of FY17 Apparel export to the market grew by 244 per cent to $168 billion from $164 billion The EPB data showed that the countryrsquos export earnings from Japan in the July-October period of FY18 fell by 394 per cent to $33390 million from $34760 million in the same period of FY17 Export earnings from China in the four months of the FY18 decreased by 2242 per cent to $22475 million from $28971 million in the corresponding period of last fiscal year Parvez said that the domestic consumption in China slightly decreased in recent times and global retailers also cut import orders from Bangladesh for their Chinese stores due to congestions in the Chittagong port lsquoWe are losing many orders from global brands as we have been failing to meet lead time due to the problem in the portrsquo he said Source httpwwwnewagebdnetarticle28200exports-to-eu-states-but-germany-post-encouraging-growth

REHAB LEADERS DEMAND CUT IN TAXES Realtors on Saturday urged the government to cut tax rates at different levels of the housing sector to give a much-needed boost to the sector They also requested the government not to raise question over the source of the minimum paid up capital (Tk 1 crore) a real estate company requires to be a member of the Real Estate and Housing Association of Bangladesh REHAB leaders made the requests at a joint meeting with the National Board of Revenue held in a city hotel on the day NBR chairman Nojibur Rahman attended the meeting as chief guest while REHAB president Alamgir Shamsul Alamin senior vice-president Nurun Nabi Chowdhury Shaon and vice-president Liakat Ali Bhuiyan were also present among others Alamgir said that the REHAB made it mandatory for its member companies to have Tk 1 crore paid up capital and he requested the government not raise question over that money The government earlier made it mandatory for all developer companies to be REHAB members Alamgir also urged the government to form a re-financing fund worth Tk 20000 crore under Bangladesh Bank to provide low-interest and long-term loans to the potential apartment buyers He demanded apartment registration fee to be reduced to 65 per cent from the existing 155 per cent mentioning that other SAARC countries maintained it at 4-7 per cent Alamgir said that the government was losing huge revenue due to the high apartment registration fee as buyers were showing unwillingness to register their apartments at high cost Nurun Nabi urged the government to meet the REHABrsquos longstanding demands to save the housing sector from ruination He also called for reducing corporate tax of non-public traded companies to 20 per cent from the existing 35 per cent He sought a cut in the tax on signing money to 75 per cent from the existing 15 per cent Alamgir also appealed for reducing tax rate on apartment resale to 3 per cent He also sought total 15 per cent tax and VAT on professional services like engineering and architecture from the current 27 per cent Nojibur said that an NBR-REHAB joint working group would be formed to work together for the betterment of the housing sector He also requested REHAB leaders to provide opinions on the income tax law that would be amended soon He assured them that the NBR would consider their demands Source httpwwwnewagebdnetarticle28201rehab-leaders-demand-cut-in-taxes

Daily News Flash 12th November 2017

17

BrsquoDESH BHUTAN START TRADE DATA SHARING IN JAN Bangladesh and Bhutan have decided to start exchanging export-import data from January 1 to verify trade documents to check duty evasion and other customs-related offences through misdeclarations of goods and prices during trades between the two countries The data will be mailed in the first week of the subsequent month according to the decision taken at the 3rd Bangladesh-Bhutan joint group of customs meeting held in November 7-8 in Thimphu the capital of the Himalayan kingdom Initially both sides will exchange export data of three commodities and gradually the scope will be expanded to all the export items Delegations from the both sides also agreed to boost the existing trade volume between the two countries and improve infrastructure at land customs stations of Bangladesh and Bhutan to facilitate border trade Bhutan informed the meeting that they were establishing a mini dry port at Phuentsholing which would boost border trade between the countries National Board of Revenue member (customs audit modernisation and international trade) Khondaker Muhammad Aminur Rahman and Bhutanrsquos Department of Revenue and Customs director Yonten Namgyel led the respective delegations at the meeting Following a request from Bangladesh Bhutan agreed to put necessary information including country of origin name and address business identification number and tax identification number of importer on the export packages as per the current Import Policy Order of Bangladesh Both sides also agreed to hold ground-level customs meetings twice a year alternately at Phuentsholing of Bhutan and Burimari of Bangladesh to resolve customs-related problems smoothly The two countries also decided to raise the issue of improving the infrastructure at Changrabandha (Indian LCS opposite to Burimari of Bangladesh) and Jaigaon (Indian LCS opposite to Bhutanrsquos Phuentsholing) to ensure smooth border trade between the countries Bangladesh also requested the landlocked kingdom to use Nakugaon-Dalu-Gelephu route for their imports and exports as Bangladesh has decided to upgrade Nakugaon LCS as a trade hub for border trade with India and Bhutan Bangladesh side also underscored the potentials of use of riverine routes as mode of transport for export and import of goods Bhutan may also get duty-free market access for limestone powder export to Bangladesh according to the decision of the meeting Mohammad Ehteshamul Hoque NBR first secretary of customs modernisation and international trade on Saturday told New Age that both countries had resolved some small-scale problems to facilitate bilateral trade and committed to further enhancing border trade The planned ground-level meeting of customs officials will also play a role in identifying and resolving bottlenecks in trade between the two nations he said According to the NBR data Bangladesh exported products worth $322 million to Bhutan in the fiscal year 2016-2017 while it imported from the country products worth $3315 million Bangladeshrsquos highest export earnings from the country were $913 million posted in the FY 2011-2012 and the earnings have been declining with fluctuations over the years Bangladeshrsquos major export items to Bhutan are bakery items fruit and vegetable juices tableware kitchenware and toiletry articles of plastics non-alcoholic beverages menrsquos singlets briefs pyjamas medicament mixtures rice aluminium structure and few garment items On the other hand the country imports mainly citrus fruits stone granite dolomite limestone ferro-alloys apple and gypsum from Bhutan Source httpwwwnewagebdnetarticle28202bdesh-bhutan-start-trade-data-sharing-in-jan

Daily News Flash 12th November 2017

18

TAX FAIRS AT ALL ZONES BEGIN TODAY Income tax fair begins today at all income tax zones across the country to provide taxpayers with services in a similar hassle-free atmosphere they got at recently-concluded countrywide weeklong tax fair National Board of Revenue chairman Md Nojibur Rahman on Saturday in a statement said that the decentralised fair at the zones with similar facilities like the weeklong national tax fair would continue till November 30 the last day of income tax returns submission Tax officials will also start issuing income tax ID cards from November 20 to the taxpayers under each tax zone in Dhaka Issuance of ID cards will continue till November 28 There are 31 income tax zones across the country including 15 in Dhaka and four in Chittagong Officials of the revenue board said that the NBR took the decision so that all taxpayers could file their tax returns without any hassle with maximum support from tax officials Initially the NBR planned to issue ID card from November 9 which was deferred due to lack of preparation Source httpwwwnewagebdnetarticle28203tax-fairs-at-all-zones-begin-today

BTRC LIKELY TO LOSE RIGHTS OVER UNUSED BALANCE IN BLOCKED SIMS Mobile phone operators are likely to get relief from paying the government the unused balance in the SIM cards that would be blocked by the telecom regulator for various reasons especially for illegal voice-over internet protocol calls Mobile operators however will have to return the unused balance to its owner if claimed said officials of Bangladesh Telecommunication Regulatory Commission They said that a proposed amendment to the 4G licencing guidelines that would be passed by the telecom regulator in the upcoming commission meeting following instruction from prime ministerrsquos ICT advisor and posts and telecommunication ministry The instruction was made based on a meeting between the mobile phone operators and the government high officials on the proposed 4G licencing guidelines they said As per the BTRC approved draft 4G licencing guidelines that would be revised it was mandatory for all the operators to pay the BTRC the remaining balance amount of the identified illegal prepaid VoIP callers and unsuccessful or fake SIM registration of service connection fund at the time of deactivating them It was also mentioned in the guidelines drafted earlier that there would not be any rights of the mobile network operators over the forfeited account balance of the illegal VoIP callers Whereas it was also mandatory for the operators to pay the remaining balance of such SIM cards within ten days of the following month In case of deactivation of SIM cards for illegal VoIP calls mobile operators would keep the remaining balance while operators would have to pay the balance to its owner if claimed for deactivation of SIM cards for any other reason Such specification about the unused balance would help the operators while the government would lose its rights over the forfeited fund BTRC officials said Such initiative might foil another BTRC move to take stand against the mobile phone operators for non-payment of unused balance in the SIM cards which were blocked by the telecom regulator for various reasons Countryrsquos leading mobile phone operator Grameenphone in February this year deposited Tk 733 crore to the telecom regulator against the unused balance in the connections that were blocked between 2008 and 2014

Daily News Flash 12th November 2017

19

While other operatorsmdash Banglalink Robi Airtel Citycell and Teletalk mdash were yet to pay any fund to the commission in this regard Airtel formerly known as Warid Telecom has already merged with Robi in November 2016 Apart from the unused balance issued the government acknowledged almost all the issues raised by the mobile phone operators about the 4G licencing guidelines BTRC officials said Source httpwwwnewagebdnetarticle28107btrc-likely-to-lose-rights-over-unused-balance-in-blocked-sims

BONDED WAREHOUSE BACK-TO-BACK LC SHOULD BE OPEN TO ALL EXPORTERS Bonded warehouse facility and back-to-back letter of credit facility should be open for all for the export of all sorts of goods to diversify export products said experts and businesses at a workshop on Thursday They came up with the observation while speaking at a stakeholdersrsquo consultation workshop on lsquoExport Diversification Challenges and Prioritiesrsquo organised by Bangladesh Enterprise Institute at IFIC Tower in Dhaka Commonwealth Secretariat adviser and head of international trade and regional cooperation Section Mohammad Razzaque presented a keynote paper on lsquoRevitalising Bangladeshrsquos export trade Policy issues for growth acceleration and diversificationrsquo Razzaque in his presentation said that there should be alternatives of diversifying export destinations and products to achieve $60 billion export target by the year 2021 Although the country has continued to achieve more than 6 per cent growth export to GDP ratio has declined a bit in last couple of years and to increase the ratio for sustaining economic growth there was no alternative to increasing exports he said To facilitate export diversification and ensure equal facility treatment among the exporters all the sectors should get bonded warehouse facility as well as back-to-back letter of credit facility that helped the countryrsquos readymade garment sector to grow Razzaque said Salman F Rahman private sector development advisor to prime minister also said that the bonded warehouse and back-to-back LC facilities should be opened for all to support other exporters Suggesting for the continuation of existing facility for the RMG sector Salman also president of BEI said lsquoWe need product diversification for the economic growth but not at the cost of RMG sectorrsquo Former Dhaka University economics department chairman Wahiduddin Mahmud said that the gov ernment should set a broad category and announce subsidy and cash incentives for longer period to help the sectors to contribute to exports as well as economic growth Speaking about the exchange rate issue the eminent economist also said lsquoAs balance of payment has turned negative the government should not try to control the exchange rate anymorersquo Centre for Policy Dialogue distinguished fellow Mustafizur Rahman said lsquoApart from diversification of other products intra-RMG sector product diversification is also important as we have created a strong foothold in the sector and itrsquos a one trillion dollar marketrsquo Speaking about the repeated change in policy Federation of Bangladesh Chambers of Commerce and Industry president Shafiul Islam Mohiuddin said lsquoElectricity price has been doubled with just a so-called hearing and that led our foreign partners to backtrackrsquo Speaking about the 070 per cent source tax imposed on apparel sector commerce minister Tofail Ahmed said rsquoAlthough we cannot do a lot for the sector but such tax should not remain on the sectorrsquo Source httpwwwnewagebdnetarticle28039bonded-warehouse-back-to-back-lc-should-be-open-to-all-exporters

Daily News Flash 12th November 2017

20

GOVT TO SPEND FUND FOR TOBACCO CONTROL MEASURES CAMPAIGNS The government has finally framed a policy on the use of health development surcharge it imposed on tobacco products three and half years ago The health and family welfare ministry on Wednesday issued the gazette notification of Health Development Surcharge Management Policy-2017 identifying 16 sectors for spending the fund on The fund will mainly be used for limiting the demand for and supply of tobacco products financing tobacco control activities conducting researches and campaigns and operating Tobacco Tax Cell of the National Board of Revenue The revenue board in July 2014 imposed 1 per cent surcharge on all tobacco products both locally produced and imported ones aiming to spend the fund for implementing the programmes to control and discourage the use of tobacco products and prevent tobacco-related diseases In the last three fiscal years (2014-15 2015-16 and 2016-17) the tax authority collected around Tk 900 crore as health development surcharge from tobacco products including cigarette bidi gul zarda and other smoking and chewing tobacco products But the fund remains idle as the health ministry has not got the access to the fund over the years as there was no policy on how to the money be used Officials of the revenue board said that formulation of the policy had paved the way for utilising the fund for tobacco control and prevention of tobacco-related diseases They said that every year around Tk 300 crore would be added to the fund According to the policy the collected surcharge will be used for financing national tobacco control activities operation of the NTCC under the ministry campaigns in the mass media on health hazards of tobacco products and tobacco control and providing trainings to stakeholders The fund will also be used for setting up National Quitline a hotline to help people quit tobacco consumption and providing financial and technical support to organisations for implementation of programmes to prevent tobacco-related non-communicable diseases Programmes will also be taken to create awareness among farmers against tobacco cultivation and motivate them to cultivate alternative crops according to the policy According to the policy a Health Development Surcharge Management Committee headed by the health minister will supervise the proper use of the fund The National Tobacco Control Cell will provide secretarial support to the committee Fund from other sources such as possible imposition of any surcharge on products hazardous to health in future and donations from local and foreign sources will also be added to the fund it said The expenditures from the fund will be audited in line with the methodology followed for the other government agencies it said According to the Global Adult Tobacco Survey-2009 some 413 crore people or 43 per cent of the total population of Bangladesh consume tobacco products On the other hand 430 crore people are victims of indirect smoking According to the World Health Organisationrsquos 2004 data 57000 people die every year in Bangladesh suffering from tobacco-related diseases The government has taken an initiative to make the country smoking free by 2040 Source httpwwwnewagebdnetarticle28040govt-to-spend-fund-for-tobacco-control-measures-campaigns

STUDY BLAMES MOBILE HUNDI FOR FALLING REMITTANCES THRU BANKING CHANNEL A study of Bangladesh Institute of Bank Management on Thursday blamed Hundi through mobile financial services including bKash Rocket mCash and UCash for decreasing remittance through banking channel

Daily News Flash 12th November 2017

21

The study conducted by a six-member team identified distance of bank branches delay in receiving money misconduct by bankers submission of various documents weekly holidays of banks and illegal immigrants as the reasons for increasing remittance inflow through mobile Hundi The six-member team headed by BIBM director Shah Md Ahsan Habib presented the study at the seminar presided over by BIBM director general Toufic Ahmad Choudhury held in the auditorium of the institute in the city lsquoIn Bangladesh remittances declined by an estimated 111 per cent in 2016 in the face of lower oil prices and fiscal tightening in the GCC countries Among other reasons use of Illegal channel by the expatriates is doing harm to our countryrsquo Bangladesh Bank deputy governor Shitangshu Kumar Sur Chowdhury said He said that it would not be possible to stop Hundi totally but BB is working to check the transactions through the illegal channel To ease the formal channel BB has reduced the security deposit requirement for the exchange houses abroad to make arrangements for remittances with local banks Shitangshu said The BB deputy governor hoped that Non-Resident Bangladeshis would come forward to know the importance of their money to be sent through banking channels BB former executive director Yasin Ali said that national economy was being hindered due to remittance inflow through illegal channels He suggested using mobile banking facilities for remittance inflow saying that the area of mobile banking expanded many fold in last five years Helal Ahmed Chowdhury former managing director of Pubali Bank suggested bankers to be courteous with bank customers Source httpwwwnewagebdnetarticle28041study-blames-mobile-hundi-for-falling-remittances-thru-banking-channel

POLICY SUPPORT MUST TO DIVERSIFY EXPORT BASKET Speakers on Thursday said that in order to diversify the countryrsquos export basket export-oriented businesses should be given the policy support that has proved highly successful in bringing vibrancy to the countryrsquos RMG sector They were speaking at a workshop styled ldquoExport Diversification Challenges and Prioritiesrdquo organised by Bangladesh Enterprise Institute (BEI) in the auditorium of International Finance Investment and Commerce Bank in Dhaka Dr Mohammad A Razzaque former head of International Trade Policy at Commonwealth Secretariat in London presented a keynote paper in the programme chaired by Salman F Rahman private sector development advisor to Awami League President and Prime Minister Sheikh Hasina Skill development measures may also play a vital part in this regard Salman said export diversification would be possible only when adequate and appropriate policy support is provided to all export-oriented industries Dr Razzaque in his keynote paper suggested revamping and deepening policy support such as providing cash assistance and bonded warehouse facilities to all such industries to improve their export competitiveness He also highlighted the need for further expanding Bangladeshrsquos export basket as its penetration into global export markets in the last decade was very insignificant Eminent economist Prof Wahiduddin Mahmud said ldquoIn addition to providing subsidies and cash incentives to thriving and promising sectors on a long-term basis the government should take measures to strengthen the countryrsquos manufacturing baserdquo

Daily News Flash 12th November 2017

22

Shafiul Islam Mohiuddin president of the Federation of Bangladesh Chambers of Commerce and Industry said the governmentrsquos support is a must to create a strong manufacturing base for export diversification ldquoSkill development measures may also play a vital part in this regardrdquo Addressing the event as the chief guest Commerce Minister Tofail Ahmed said export diversification depends on businessmenrsquos initiatives He however pledged all necessary support from the government for export diversification to meet the countryrsquos $60 billion export target by 2021 BEI President Farooq Sobhan emphasised engaging the private sector in relevant policy discourses to achieve the target ldquoA private sector-oriented policy mechanism is very important as rapid changes are taking place in the global trade landscape Understanding implications and generating timely policy responses to unfolding developments will be meaningful only when the private sector is able to benefit from themrdquo said Sobhan Among others Mustafizur Rahman a fellow at the Centre for Policy Dialogue Kazi M Aminul Islam executive chairman of Bangladesh Investment Development Authority Bijoy Bhattacharjee vice chairman of Bangladesh Export Promotion Bureau and Md Nojibur Rahman chairman of the National Board of Revenue also spoke Source httpwwwdhakatribunecombusinesseconomy20171109policy-support-must-diversify-export-basket

BANKS LACK REMEDIAL STRATEGY WHILE NPL RISES WORRYINGLY Some of Bangladeshs banks dont have in-depth look into the problem of spiraling non-performing loans (NPL) while many others try to frame remedial strategies perfunctorily Such observations came out from studies on banking as well as financial sector at large as the NPL surge worries many quarters One finding shows that around 11 per cent of the countrys banks did not have an in-depth look into the issue of NPLs in the past year despite a growing concern over the problem in the financial arena The recent industry-wide survey also revealed that around 30 per cent of the countrys banks had not assessed their past NPL-reduction strategies at all while 36 per cent did so only on an ad-hoc basis The findings came out from the survey of the Chief Risk Officers at the banks on issues concerning NPL strategy in their institutions Leading banking research and training institution Bangladesh Institute of Bank Management (BIBM) conducted the study The research findings come at a time when the ballooning NPLs is becoming a major issue with the countrys banking industry and also triggering concerns and criticisms As per the central bank data the volume of NPLs had increased by more than 21 per cent to Tk 62172 billion by the end of 2016 swelling from Tk 51371 billion a year before The findings are genuinely surprising as we are struggling to find a bank for which NPL is not an issue in some capacity said Sazib Azad Senior Advisor of BIBM who led the research initiative Furthermore if the bank itself is immune to the impact of NPL even then they need to consider whether they are immune from structural or market-level impacts as well he told the FE However relevant survey results show the potential lack of such considerations as only 10 per cent of bank CROs taking part in the survey said that their banks are addressing potential dependence on market assessment and strategy What is more surprising is that the NPL strategies of around 62 per cent of the banks are not signed off by the boards the survey found

Daily News Flash 12th November 2017

23

This is quite striking because given the severity of the non-performing-loan issue the NPL strategy should be signed off by the boards Mr Azad said adding Boards are not only accountable for the health of the banks but are also in position to release resources to get to grips with the issue In addition the survey result also revealed 31 per cent of the banks not communicating their NPL strategy across the bank NPL as an issue needs to be addressed from ground up But the results show that this is not happening at our banks said an expert who was involved with research Meanwhile 25 per cent of the CROs said they were not tracking the implementation and effectiveness of NPL strategy in their banks- something which according to experts is a cause of concern Given how critical an issue NPL exposure is we would expect every CRO to track how the NPL strategy is being implemented its effectiveness and how to improve matters to the Board Risk Committee and the Board the banking experts said Meanwhile the survey results also found that although 94 per cent of the banks had stress-tested their balance sheet in terms of NPL drag this figure drops to 56 per cent while considering the impact to and from the wider economy market and structural aspects It seems that 33 per cent of the banks do not formally consider this aspect with a further 11 per cent not looking at this dimension at all the researchers said Experts also noted that with Basel 3 farther putting capital under pressure sensible banks should dynamically model the impact of key risks to their capital However the survey results show 17 per cent of the banks are not doing so while 31 per cent doing it in a limited manner Asked whether their banks risk-appetite-statement metrics reflected their NPL strategy 36 per cent of the respondents said they do so in a limited capacity while a further 80 per cent are not doing that at all It was also found that 25 per cent of the C-Suites have specific NPL-strategy-related targets while 31 per cent of the CROs have the same Meanwhile when asked whether they consider their NPL strategy to be embedded just over half of them or 52 per cent of the survey participants said Yes This according to experts is clearly not fit for purpose given the severity of the NPL issue facing the banking sector The first step in looking into the NPL issue is to assess internal capabilities to effectively manage NPLs Next external conditions or operating environment needs to be considered Finally the capital implications of the NPL strategy need to be analyzed said Sajib Azad The findings of the survey will be shared with the stakeholders during the next CRO forum of BIBM expected to take place next month where the issue of Risk Culture will also figure high The biggest reason for the swelling of NPL in our banking sector is a lack of good governance To check the ballooning of NPL the internal governance of the banks has to be strengthened above all Director-General of BIBM Toufic Ahmad Choudhury said Meanwhile the survey also found banks tending to consider time-horizon portfolio segment and exposure-level-based targets to be broadly equally important to their NPL strategy In terms of options preferred for reducing NPL banks consider change of exposure type to be most effective (36 per cent) followed by active portfolio reductions (33 per cent) and hold forbearance (31 pe rcent) Source httptodaythefinancialexpresscombdfirst-pagebanks-lack-remedial-strategy-while-npl-rises-worryingly-1510417700

GOVT SEEKS US$183B UNDER 39TH JAPANESE ODA PACKAGE The government has sought around US$183 billion worth of assistance from Japan for bankrolling six development projects officials said Saturday

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Officials at the Ministry of Finance (MoF) said they have already discussed the issue with the Japan International Cooperation Agency (JICA) We are hopeful of receiving funds under its upcoming 39th Official Development Assistance (ODA) package to finance six development projects a senior MoF official told the FE He said a JICA mission in September-October last completed its visit to Bangladesh to explore the possibilities of financing the proposed projects We are hopeful of signing the 39th ODA package with JICA within a couple of months he said After signing the loan deal the largest bilateral donor will start disbursement of funds from the proposed $183 billion aid package for the six development projects the MoF official added The proposed six projects under the 39th ODA package are Matarbari port development Dhaka MRT line-6 construction (phase-III) Dhaka MRT line -5 feasibility study Matarbari ultra super critical coal-fired power plant (phase-IV) Jamuna Railway Bridge construction and Health service strengthening project A senior official of Economic Relations Division said the proposed 39th ODA package will be very useful for Bangladesh as it will be utilised to develop the Matarbari port ongoing Matarbari power plant project conduct feasibility study and detailed design of the MRT line-5 in Dhaka and to construct railway bridge over the River Jamuna All of these projects are very important for the country to ensure smooth transportation and uninterrupted power supply he added Japan is the largest bilateral development partner of Bangladesh Over last 5-6 years it has enhanced its aid with confirmation of more than US$10 billion worth of funds under each of the aid packages In the last 38th ODA package signed in June 2017 JICA provided Yen 178223 billion ($164 billion) for utilising in six development projects on transport infrastructure power and water sector improvement works In June 2016 Japan signed the 37th ODA deal worth $150 billion (17354 billion Japanese Yen) with Bangladesh and in December 2015 it inked the 36th ODA package confirming $12 billion concessional loan for six development projects Under the last 38th ODA package JICA offered $700 million (Yen 76825 billion) for Hazrat Shahjalal International Airport Expansion project $480 million (Yen 5273 billion) for 2nd Kanchpur Meghna and Gumti bridges construction $50 million (Yen 5593 billion) for Dhaka Mass Rapid Transit development project (Line 1) $100 million (Yen 10745 billion) for Matarbari ultra super critical coal-fired power plant $190 million (Yen 20477 billion) for Dhaka underground substation construction project and $110 million (Yen 11853 billion) loan for small scale water resources development project Japan has so far provided Bangladesh with nearly US$12 billion in assistance since the financial year (FY) 1971-72 Source httptodaythefinancialexpresscombdfirst-pagegovt-seeks-us183b-under-39th-japanese-oda-package-1510417739

SUMMIT GROUP ENTITIES TO ISSUE PREFERENCE SHARES WORTH $1250M A subscription closing ceremony to raise capital through issuance of preference shares worth BDT 1000 million (USD 1250 million) for Summit Barisal Power Limited amp Summit Narayanganj Power Unit II Limited was held recently at Pan Pacific Sonargaon Dhaka said a statement LankaBangla Finance Limited acted as the Mandated Arranger LankaBangla Investments Limited acted as the Issue Manager and The City Bank Limited acted as the Agent Account Bank amp Custodian Bank to raise the fund In the event Mr Lt Gen (Retd) Engr Abdul Wadud Managing Director of Summit Barisal Power Limited amp Summit Narayanganj Power Unit II Limited Mr Khwaja Shahriar Managing Director amp

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CEO of LankaBangla Finance Limited Mr Mohammed Nasir Uddin Chowdhury Managing Director of LankaBangla Capital Market Operations Mr Mominul Islam Managing Director amp CEO of IPDC Finance Limited Mr R Q M Forkan Managing Director amp CEO of Bangladesh Commerce Bank Limited Mr Faruq M Ahmed Additional Managing Director of Trust Bank Limited Mr Akthar Hamid Khan Deputy Managing Director of Pubali Bank Limited Mr Arif Hasan Khan Vice President of Modhumoti Bank Limited Mr Mohammad Ibrahim Khalil FCA Vice President amp CFO of Bank Asia Limited and Mr Mahbub Jamil Vice President and Head of Structured Finance of The City Bank Limited along with other senior officials from the companies were present Source httptodaythefinancialexpresscombdstock-corporatesummit-group-entities-to-issue-preference-shares-worth-1250m-1510411878

BMBA URGES MUHITH TO EXEMPT INVESTMENTS BY MF SPONSORS Bangladesh Merchant Bankers Association (BMBA) has urged the finance minister to exclude some components including sponsors investments in mutual funds (MFs) from the banks exposure to the capital market It made the request for ensuring an environment conducive to gradual development of the capital market according to a proposal submitted to Finance Minister AMA Muhith last week The BMBA said the long-term or strategic investments needed to be excluded while calculating the exposure as these investments were not intended for frequent trading Non-convertible preference shares and non-listed securities also need to be excluded from the capital market exposure as it will never influence the capital market volatility it said in a letter to the minister According to the letter the MFs are passive investments where investors themselves are not involved in investment decision making and such fund portfolios are mostly of long-term nature than frequent trading On the other hand the sponsors of the MFs need to hold 10 per cent of the investment until liquidation of the fund So considering the fact the sponsors portions in MFs need to be excluded from the banks capital exposure said the BMBA proposal As per the Banking Act 1991 it said reporting requirement is on solo basis but the central bank has introduced consolidated calculation which is of dual effectdouble counting in the market exposure This kind of restrictive measure creates panic situation in the market and may hinder the potentials and prospects of the capital market as a whole the BMBA said It also said that this kind of practice needed to be stopped as such requirements and reporting practice would further squeeze the market and that the investors would lose their interest The BMBA said some organisations have invested on strategic purpose and were holding positions in the board and their exposure increased with rising the market price of MF units On the other hand in compliance with the securities rules they are unable to sell shares to reduce exposure the BMBA said terming the situation complicated In its letter the BMBA said that the capital market exposure of some banks and financial institutions increased without fresh investments following the upward trend of the market price as the exposure is calculated on the basis of market price If the banks need to go for selling off their excess exposure this will create unnecessary selling pressure on the market said the BMBA The association requested the finance minister to consider their proposal to facilitate the growth of the capital market by its own strength and prospect Source httptodaythefinancialexpresscombdstock-corporatebmba-urges-muhith-to-exempt-investments-by-mf-sponsors-1510411950

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ATIUR STRESSES ROLE OF REGULATORS IN DIGITAL FINANCIAL INCLUSION Former Bangladesh Bank Governor Dr Atiur Rahman chairs a session at the 5th Biennial Competition Regulation and Development Conference at Jaipur in India on Thursday Success of digital financial inclusion depends on the prudent role of the regulating bodies to a great extent And the recent progress in Bangladesh in this regard is a good example for the rest of the world to follow said Dr Atiur Rahman former governor of Bangladesh Bank says a statement He was chairing a session at the 5th Biennial Competition Regulation and Development Conference at Jaipur India on Thursday The three-day conference is being hosted by CUTS International and OECD Speakers of the session included Ravinder S Aurora Senior Vice President of Mastercard David Ongolo Kenyan Competition Authority and Dr A K EnamulHaque Professor of East West University Dhaka Many developing countries survived and even thrived during the last global financial crisis because they chose to follow a broad-based financial inclusion strategy And digital solutions played a crucial role in this financial inclusion drive said Dr Rahman He added that service providers must focus on reaching out to the customers in the rural socio-economic conditions Dr Rahman said that experience from Bangladesh can answer many of the burning questions regarding digital financial inclusion The central bank of the country has facilitated bank-led digitisation drive Be it Mobile Financial Service or be it Agent Banking the Bangladesh Bank has encouraged traditional players (ie the commercial banks) to lead the way And it has been proven to be very successful He also said that the world is witnessing only the beginning of the digital finance revolution Hence we must learn from all these experiments share our experiences and know-hows Only then we can work towards shaping global standards and practices Dr Rahman finally asked all central banks to be more proactive and collaborative with other stakeholders including non-traditional financial service providers to facilitate orderly development of digital financial inclusion so that consumers interests are better protected The grievance redressal mechanism developed in Bangladesh Bank with infusion of state of the art technology to gain trust of the customers in financial inclusion was also discussed widely in the session The panelists highly appreciated Bangladeshs regulatory move with public interest in mind using latest technology for replicable digital financial inclusion Source httptodaythefinancialexpresscombdtrade-marketatiur-stresses-role-of-regulators-in-digital-financial-inclusion-1510416319

FAO FEARS NEGATIVE BD FOOD OUTPUT GROWTH ON FLOODING Recent flooding has dampened the outlook for Bangladesh a likely third successive season of little or negative food production growth mainly rice reports UNB quoting FAO Barring major setbacks production recoveries could instead permit Bangladesh and Sri Lanka to slightly lower their 2018 imports to 11 million and 450 000 tonnes respectively according to the latest Food Outlook published by the UN Food and Agriculture Organisation (FAO) Among other rice importers Bangladesh Iraq Nigeria and the Philippines are all similarly predicted to replenish their inventories according to the report a copy of which obtained by the news agency These gains are however likely to be offset by stock reductions in the Republic of Korea Madagascar Sri Lanka and the United Republic of Tanzania all linked to output shortfalls Although the use of rice as animal feed is being sustained by the release of supplies from government granaries in Japan the Republic of Korea and Thailand more affordable feedstuffs are expected to displace rice in most other countries especially in Bangladesh China (Mainland) and Vietnam

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Since the previous Food Outlook report a series of unfavourable climate-related events have affected main paddy crops in the Northern Hemisphere which have now reached the harvesting stage This has been the case in Asia where unlike 2016 the critical Northern Hemisphere summer months were characterised by mixed growing conditions that inhibited planting expansions As a result FAOs latest forecast of world rice production in 2017 points to a broadly stable output level of 5008 million tonnes Production in Asia is now forecast to fall 550 000 tonnes below the 2016 bumper harvest to 4525 million tonnes The UN agriculture agency has said the cost of importing food is rising in 2017 driven by increased international demand for most food stuffs as well as higher freight charges The cost of importing food is forecast to rise six per cent in 2017 to $1413 trillion making it the second highest bill on record while food commodity prices have been generally stable according to the latest Food Outlook that expressed concern about the economic and social impact of this trend on poor countries Although weather disruptions are set to stall production growth this season global rice supplies are still forecast to exceed utilisation enabling a small expansion of world rice inventories Global trade is expected to rise only modestly in 2018 after staging an 8 per cent recovery in 2017 The food import bills are set to increase by double-digit rates for least-developed countries (LDCs) and low-income food-deficit countries Aromatic rice varieties have risen eight times faster than the FAO All Rice Index which is up four per cent on the year However the higher import costs come at a time when inventories are robust harvest forecasts are strong and food commodity markets remain well supplied The export of tropical fruits is promising for poverty relief and rural development as almost all production takes place in developing countries The export volumes of mango pineapple avocado and papayas are on course to achieve a total combined value of $10 billion this year according to the Food Outlook Source httptodaythefinancialexpresscombdfirst-pagefao-fears-negative-bd-food-output-growth-on-flooding-1510336161date=11-11-2017

STOCKS NUDGE HIGHER AS BANK TELECOM ISSUES SURGE Stocks extended the winning streak for the two consecutive weeks that ended Thursday as enthusiastic investors continued their buying appetite on bank and telecommunication issues Market operators said the positive momentum in some large-cap issues especially from banking telecom pharmaceuticals and food amp allied sectors helped the bourse to stay upbeat The banking sector posted the highest return of 445 per cent as 27 out of 30 listed banks ticked higher Four banks gained more than 10 per cent each The telecom sector also surged 342 per cent as Grameenphone the countrys largest market-cap listed companys shares price jumped 40 per cent to close at Tk 45690 each The market extended the winning streak riding on heavyweight bank and telecom issues said an analyst at a leading brokerage firm The week featured five trading sessions as usual Of them first session saw marginal correction while last four closed higher Week-on-week DSEX the prime index of the Dhaka Stock Exchange (DSE) jacked up by 9454 points or 155 per cent to finish at 6193 The two other indices -- the DS30 index and the DSE Shariah Index (DSES) - also closed higher at 2244 and 1341 points

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Both the indices added 4264 points and 1218 points respectively During the week banking pharmaceuticals and telecommunication sector stocks contributed more to keep the market up commented City Bank Capital Resources a merchant bank in its weekly analysis The port city bourse Chittagong Stock Exchange (CSE) also ended higher The CSCX advanced 180 points or 156 per cent to finish at 11618 International Leasing Securities a stockbroker noted that the market observed an upbeat vibe throughout the week riding on the news of soaring of net foreign investment in the capital market in the first 10 months of 2017 compared to the same period of last year Net position of foreign portfolio with the DSE stood at Tk 1623 billion in January-October compared to Tk 80 billion in the same period a year ago However some investors were reshuffling their portfolios after observing the year-end corporate declarations and first quarter earning disclosures the stockbroker added According to EBL Securities The market witnessed an upbeat tune throughout the week riding on regained confidence among the market participants The stockbroker noted that preferable year-end and quarter-end earnings declarations by several companies helped them to remain positive about market The total turnover for the week amounted to Tk 3591 billion on the DSE which was Tk 3027 billion in the week before The daily turnover averaged Tk 718 billion which was nearly 19 per cent higher than the previous weeks average of Tk 605 billion Block trade accounted for 16 per cent of the total weekly turnover where stocks like BATBC Beximco Pharma Shahjalal Islami Bank Square Pharma and Singer Bangladesh dominated the block trade board Banking sector kept its dominance over the turnover chart grabbing 35 per cent of the weeks total transaction followed by engineering with 18 per cent and pharmaceuticals 11 per cent Out of 336 issues traded 207 closed lower 116 ended higher and 13 issues remained unchanged on the DSE trading floor during the week The market capitalisation of the DSE rose 137 per cent as it was Tk 4123 billion on the opening day of the week and it stood at Tk 4179 billion on closing day of the week City Bank topped the weeks turnover chart with 5390 million shares worth Tk 184 billion changing hands followed by IFAD Autos with Tk 121 billion Brac Bank Tk 10 billion LankaBangla Finance Tk 994 million and Dhaka Bank Tk 926 million Reckitt Benckiser was the weeks best performer posting a gain of 1925 per cent while Stylecraft was the weeks worst loser slumping by 3322 per cent A new issue - Oimex Electrode-- made debut last week and soared 1042 per cent from its offer price of Tk 10 in the first trading day on Monday Source httptodaythefinancialexpresscombdstock-corporatestocks-nudge-higher-as-bank-telecom-issues-surge-1510332934date=11-11-2017

BANGLADESH GROWING AS DENIM HUB The growing global demand for fashionable denim wear encouraged both local and foreign entrepreneurs to make fresh investment in Bangladesh participants and organisers of Bangladesh Denim Expo have said Many of the 30 local denim mills are going for expansion while a couple more will come into operation with fresh investment within next two or three years they said Some foreign companies are opening offices or setting up factories in Bangladesh they added The seventh edition of the two-day Bangladesh Denim Expo was held in the city recently with the theme transparency to highlight the need for transparency in the entire denim supply chain

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A total of 65 exhibitors from 12 countries participated in the show while more than 12 thousand visitors from across the world registered online to attend the two-day expo organisers said Talking to the FE on the sidelines of the expo Md Khalid Mosharof assistant general manager at Dekko Group said the group invested Tk 15 million in setting up a new factory of 44 lines at Ashulia that would go for denim item production in June next The main reason is to tap the growing global demand he said Echoing him Syeed Ahmed Chowdhury general manager operation at Square Denim said the company expanded its denim fabric production capacity to 30 million yards from the existing 15 million yards per month mainly to meet the demand He however opined that the expansion is taking place more in garment segments than in fabric production There is no alternative to expansion to sustain the existing business and achieve the $50 billion garment export earnings target by 2021 Sharif Zahir managing director of Ananta Group said stressing the need for positive branding of the sector Meanwhile Landes a German denim accessories maker started production in its new factory at Savar from this month It invested US $05 million We opened the factory in Bangladesh as we think this is the hub for denim business and there is a lot of business prospects here Manfred Slowik chief operating officer of Landes told the FE at his stall at the expo By the end of next year the total workforce in our new plant will be 120 people as we are recruiting new people from existing 30 Mr Slowik said Landes has a target to produce 500 million pieces of leather patches used in denim trousers as accessories in a year at its Savar plant from where such accessories will be supplied to the whole Asian region Many big brands like HampM VF and Walmart are their customers he said Nezahat Boni senior account manager of Orta a Turkish denim maker said her company supplies 30 million metres of denim fabrics in Bangladesh in a year against only 800 meters in 2011 We opened an office in Bangladesh in 2011 as we cannot ignore the importance of this country as a denim hub she said Prosperity Textile a Chinese company opened its office in Dhaka last year said Md Mujibul Hoque the companys Bangladesh Sales Director The company has targeted sale of 100 million yards a year across the globe while it also targets 30-40 per cent of their sales in Bangladesh Bangladesh is now the top denim products supplier to the European Union overtaking China and third largest to the US after China and Mexico industry people said Bangladesh supplies denim products to major global buyers and retailers including levis G-Star Raw HampM Tesco Wrangler Hugo Boss Walmart and Gap Source httptodaythefinancialexpresscombdtrade-marketbangladesh-growing-as-denim-hub-1510332061date=11-11-2017

EXPORTS UP 70PC IN JULY-OCTOBER Countrys export earnings grew by 703 per cent to US$1150 billion during first four months of the current fiscal year (FY 2017-18) according to official data released Thursday The earnings were $1079 billion in the same period (July-October) last FY In October 2017 the exports grew by 642 per cent to $284 billion the Export Promotion Bureau (EPB) data showed The overall exports in the first four months slightly (074 per cent) fell short of the periods target In October however the exports were 628 per cent higher than the months strategic target Readymade garment shipments fetched $943 billion marking 699 per cent growth during the period as compared to $882 billion in the same period of last FY

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The woven items registered 385 per cent growth in earnings to $445 billion than that of $428 billion in the same period of FY 2016-17 The earnings from knitwear export during the period grew by 995 per cent to $498 billion from $453 billion in the corresponding period of last FY Jute and jute goods exports rose by 1646 per cent to $34501 million from $29626 million in the same period of FY17 The earnings from agriculture products grew by 2022 per cent during the period while home textiles by 2037 per cent The earnings from leather and leather products however fell marginally by 002 per cent to $42844 million during the period than that of $42851 million in the same period last FY The export earnings from frozen food and live fish grew by 1541 per cent to $22691 million from $19661 million of the corresponding period of last fiscal Mahmud Hasan Khan vice president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) said the exports in the first four months of the current fiscal year fell short of the expected growth mainly because of failure in maintaining the lead time and short supply of gas and electricity Terming the knitwears growth satisfactory he said woven items manufacturers have been struggling to cope with the new challenge as buyers were reducing the volume of orders due to failure in meeting the lead time Without efficient port and strong backward linkage industry especially for the woven sub-sector it will be difficult for the sub-sector to bounce back he feared He pointed out that maximum of the woven fabric requirements were being met through imports But it was taking too much time to clear the imported fabrics and additional charges as a result at the Chittagong seaport that was facing unbearable congestion The government should provide necessary policy support to the exporters to establish strong backward linkage industry for the woven sub-sector he added Source httptodaythefinancialexpresscombdfirst-pageexports-up-70pc-in-july-october-1510248870date=10-11-2017

GAS CRISIS HURTING OUTPUT IN INDUSTRIAL BELT Factories in the countrys Tongi-Gazipur industrial belt have been facing acute gas crisis over the past few months following diversion of gas to upstream power plants The crisis has deteriorated further this week albeit some improvements for a few days last week said local industrialists and businessmen According to them if the ongoing gas crisis persists they may be forced to shut down their factories Officials of the Titas Gas Transmission and Distribution Company Limited (TGTDCL) however blamed the Petrobangla for the gas crunch Sources concerned say the industrial belt of Tongi-Gazipur is suffering badly for about four to five months from low pressure of gas coupled with poor electricity voltage -- often resulting in huge volume of industrial wastages and reduction of production efficiency According to the industry insiders a factory in the industrial belt requires 04 PSI (production per square inch) as optimum gas pressure but the pressure at times comes down to as low as 01 PSI these days -- especially during the daytime Gas pressure in the area becomes normal around 10pm11pm and stays for not more than 08 hours until 6am7am an entrepreneur of the industrial belt informed Asked an official of Titas said they are at present getting nearly 250 million cubic meters (MCM) less in recent weeks against their current demand of 1800 MCM gas in Titas franchise The downstream Titas franchise area covers greater Dhaka region which includes Gazipur alongside some other adjoining districts and greater Mymensingh he said

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A Petrobangla source however cited gas supply on priority basis to a number of upstream projects including power plants as reason behind supply shortage When asked Managing Director of Akij Group Sk Bashir Uddin termed the situation really worrisome According to him two of Akij Group companies situated in the area -- Akij Printing amp Packages Limited and Dhaka Tobacco Industries -- jointly contributed nearly Tk 35 billion (3500 crore) to the national exchequer in the 2016-17 fiscal year But were very much worried about our industrial output this year as production disruption following the twin crises involving gas supply and power supply Both will eventually disrupt our retail business in every phase he quipped This often results in a high rate of industrial wastage and reduction of production efficiency he added Bangladesh Auto Re-rolling Steel Mills amp Association Chairman Manwar Hossain who is also Anwar Group Managing Director echoed the same concern Factories in the industrial belt are now operating at one-third of their capacity which may lead to labour unrest and default of huge sum of bank loans he said Such disruption of production he cautions may even cause sudden shutdown of factories According to him none of the victims in that case will be the wilful defaulters -- they will be the victims of circumstances The businessman who has a steel factory called Anwar Ispat Limited in the industrial belt called for immediate introduction of ECM (electronically controlled meters) to check unabated gas engineering in the area which he deems to be yet another reason for gas supply crunch Titas officials according to him are encouraging co-generation scheme to help address the severe gas crisis But he said co-generation will require stable and smooth gas supply Government should ensure at least 10-15 years of smooth gas supply to encourage co-generation as what he said any industrial investment requires 20 years of payback period TGTDCL Deputy Managing Director Engineer Abdul Wahab Talukdar who is also the Project Director of Sripur-Joydevpur Transmission Pipeline Project said We cannot do anything to address the crisis if there is a lack of adequate gas supply Mentioning that all factories in the industrial belt are like my babies he unequivocally said Titas is not at fault He also admitted that priority-based power plants gas supply being the reason behind the current spell of gas crunch We have already started introducing electronic volumetric corrector (EVC) to stop illegal gas use in the area he said Factories he added should go for co-generation scheme for protecting their own interest Co-generation means utilising and absorbing heat generated from gas generators which Mr Wahab said will save energy A section of the businessmen however called for stopping fertiliser production and distributing the same among people at a subsidised price after importing it to facilitate smooth supply of gas to other industries Even if the government stops fertiliser production and opts for importing it for distribution at a subsidised rate there will only be an insignificant loss compared to the overall losses now being incurred said an industrialist who has more than one factory in the industrial belt Local sources said illegal and unapproved gas connections in various industries in and around the zone are also affecting gas supply badly among other reasons Source httptodaythefinancialexpresscombdfirst-pagegas-crisis-hurting-output-in-industrial-belt-1510249018date=10-11-2017

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SINGLE PERSON MAY FORM COMPANY A single person may form a commercial firm under a provision of the companies law being updated along with some other major business-stimulating measures Official sources said the government is considering incorporating some new provisions including one allowing individuals to form any company into the updated Companies Act The other provisions are formation of an appellate tribunal to resolve legal matters without wasting much time widespread automation of companies work and submission of annual company reports online Earlier the Ministry of Commerce (MoC) had received some recommendations from the stakeholders on how to update the law they added We got most of the recommendations from the stakeholders We hope we will be able to prepare the draft Companies Act within a month Md Obaidul Azam director trade organisations (DTO) told the FE He said the recommendations the ministry had received so far were being scrutinised before preparing a draft for updating the companies act Earlier different trade bodies had sent their respective recommendations to the MoC for incorporation into the law The MoC will hold a meeting with the countrys apex trade body after assessing the recommendations and suggestions the ministry official said Talking to the FE a leader of an influential trade body said they had sent some recommendationssuggestions to the MoC for the new Companies Act for betterment of the countrys trade and business According to Section 2 (1) (c) of the Companies Act 1994 Company means a company formed and registered under this Act or an existing company Thus a company is an association of persons formed under the Companies Act 1994 with a view to achieving some common objectives Though a company is regarded a legal person it possesses similar rights and owes similar obligations like a natural person Now any individual fulfilling the new criteria may be allowed to form a firm Source httptodaythefinancialexpresscombdfirst-pagesingle-person-may-form-company-1510249090date=10-11-2017

DSE TURNOVER CROSSES TK 80 BILLION MARK The daily turnover on Dhaka Stock Exchange (DSE) exceeded the Tk 80 billion mark on Thursday as investors took fresh exposure to the banking sector Turnover a crucial indicator of the market reached Tk 870 billion on the countrys premier bourse jumping 14 per cent from the previous days transaction of Tk 765 billion It was the biggest single-day transaction since October 11 when the turnover totalled a record Tk 1092 billion Along with rising turnover DSEX the prime index of the Dhaka bourse continued to keep its gaining momentum closing 3449 points higher at 6193 points DSEX which replaced the DGEN in nearly five years back added more than 121 points or 20 per cent in the past four consecutive sessions The two other indices -- the DS30 index and the DSE Shariah Index (DSES) -- also followed suit to end at 2244 and 1341 points after gaining 1422 points and 443 points respectively Brokers said the market maintained the bullish trend for the four straight sessions as the enthusiastic investors chased the banking sector stocks The market continued the bullish trend for the four consecutive sessions as the enthusiastic investors were active for the banking food and engineering sector stocks commented EBL Securities a stockbroker in its regular market analysis

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It noted that the core index remained positive throughout the session as optimistic investors kept buying sector-wise stocks while some rebalanced their portfolios Meanwhile share price of newly listed Oimex Electrode continued to decline for the three consecutive sessions after unusual hike during its debut trading on Monday The companys share price fell 763 per cent to close at Tk 9810 on Thursday after jumping more than tenfold during the debut trading which experts termed unusual Block trade contributed Tk 241 million to the days total turnover with stocks like BATBC Square Pharmaceuticals Singer Bangladesh and Beximco Pharma dominating the block trade board Among the major sectors pharmaceuticals posted the highest gain of 122 per cent followed by banking sector (083 per cent) food amp allied (067 per cent) engineering (033 per cent) financial institutions (003 per cent) and power (003 per cent) Only telecommunication sector faced a 045 per cent correction A total number of 0140 million trades were executed in the days trading session with trading volume totalling 23171 million securities The total market capitalisation of the DSE stood at Tk 4179 billion against Tk 4168 billion in the previous session Losers however took a modest lead over the gainers as out of 325 issues traded 140 closed lower 130 closed higher and 55 remained unchanged on the DSE trading floor City Bank dominated the turnover chart for the second day in a row with 1035 million shares changing hands closely followed by Dhaka Bank LankaBangla Finance Brac Bank and Keya Cosmetics Reckitt Benckiser was also the days best performer posting a gain of 624 per cent while Qasem Drycells was the days biggest loser shedding 1235 per cent The port city bourse Chittagong Stock Exchange (CSE) also ended higher with its Selective Categories Index -- CSCX --gaining more than 62 points to close at 11618 Losers beat gainers as 113 issues closed lower 97 closed higher and 37 remained unchanged on the CSE The port city bourse traded 1604 million shares and mutual fund units generating a turnover of Tk 483 million Source httptodaythefinancialexpresscombdstock-corporatedse-turnover-crosses-tk-80-billion-mark-1510245247date=10-11-2017

TEN COS GRAB 32PC TURNOVER ON DSE The banking sector continued to dominate the transaction chart of the Dhaka Stock Exchange (DSE) accounting for 39 per cent of the total turnover on Thursday Four banks made their way to the top 10 turnover chart with City Bank leading the chart for the second day in a row Brokers said the investors chased the banking sector issues as more than 63 per cent of listed banks showed positive earnings in the third quarter (July-September period) Meanwhile top 10 traded companies including four banks grabbed more than 32 per cent of turnover on the Dhaka bourse The total turnover on the premier bourse reached Tk 870 billion up 14 per cent from the previous days Tk 765 billion The most active shares in terms of value included City Bank Dhaka Bank LankaBangla Finance Brac Bank Keya Cosmetics Square Pharmaceuticals Beximco Pharmaceuticals IFAD Autos Exim Bank and IDLC Finance According to statistics available with the DSE about 1035 million shares of City Bank were traded generating a turnover of Tk 553 million or 635 per cent of the total transactions

Daily News Flash 12th November 2017

34

The companys share price hovered between Tk 5240 and Tk 5440 before closing at Tk 5390 advancing 228 per cent over the previous session Dhaka Bank came in next with shares of Tk 395 million changing hands contributing 454 per cent to the total turnover The banks share price closed 347 per cent higher at Tk 2380 LankaBangla notched the third spot with shares of Tk 266 million changing hands making up 305 per cent of the total turnover Its share price ended 063 per cent higher at Tk 6430 Brac Bank emerged the fourth with shares of Tk 257 million changing hands grabbing 295 per cent of the total turnover The banks share price settled 123 per cent higher at Tk 107 Keya Cosmetics featured a turnover of Tk 247 million or 284 per cent of the total turnover Its share price closed 201 per cent higher at Tk 1520 The turnover of Square Pharma was Tk 241 million or 276 per cent of the total transaction Its share price ended 612 per cent down at Tk 27890 Beximco Pharma featured a turnover of Tk 211 million or 242 per cent of the total turnover Its share price advanced 428 per cent to close at Tk 10960 The turnover of IFAD was Tk 208 million accounting for 238 per cent of the total turnover Its share price closed at Tk 14070 gaining 195 per cent Exim Bank featured a turnover of Tk 196 million or 225 per cent of the total transaction The banks share price inched up 055 per cent to close at Tk 1830 IDLC also made its way to the top ten turnover chart with shares of Tk 188 million changing hands Its share price closed 223 per cent higher at Tk 9150 Source httptodaythefinancialexpresscombdstock-corporateten-cos-grab-32pc-turnover-on-dse-1510245290date=10-11-2017

FOREIGN INVESTMENT HIKE INFO DRIVES MODERATE GAINS ON DSE The Dhaka bourse Thursday closed the session posting a moderate rise in the broad index and turnover amid mixed performance displayed by major sectors On the day most of the major sectors declined but the turnover crossed Tk 80 billion-mark after two sessions on Dhaka Stock Exchange (DSE) mainly because of investors increased participation in the banking sector According to a market review of International Leasing Securities positive momentum in some big-cap stocks especially from bank food and engineering sectors helped the bourse to close in green The market started the session with a positive note and the DSE broad index DSEX witnessed little ups and downs before closing higher According to AT Capital Partners the market remained sideways till the midsession The DSEX rose again in the second half of the session and closed at 61936 up by 345 points The shariah based index DSES and blue chip index DS30 also rose marginally The turnover stood at above Tk 870 billion which was 1370 per cent higher than the turnover of the previous session The confident drive was initiated by the investors buying spree riding on the news of doubling net foreign investment in stocks year-on-year in the first ten months of 2017 said the International Leasing SecuritiesAmong the gaining sectors bank advanced 08 per cent and engineering 03 per cent Of the losing sectors pharmaceuticals amp chemicals declined 11 per cent telecommunication 05 per cent and textiles 09 per cent The banking sector grabbed 384 per cent of the market turnover at the premier bourse DSECity Bank topped the turnover chart with a value of Tk 553 million followed by Dhaka Bank LankaBangla Finance BRAC Bank and Keya CosmeticsReckitt Benckiser (Bd) limited topped the gainers chart with a rise of 624 per cent to close at Tk 18456 while Quasem Drycells was the worst loser after declining 1235 per cent to close at Tk 8230 Source httptodaythefinancialexpresscombdstock-corporateforeign-investment-hike-info-drives-moderate-gains-on-dse-1510245365date=10-11-2017

Daily News Flash 12th November 2017

35

MORE JAPANESE COMPANIES SEEK TO INVEST IN BANGLADESH Japanese Ambassador to Bangladesh Hiroyasu Izumi has said the Japanese investors are keen to invest in Bangladesh considering the lucrative offer and ideal atmosphere for foreign investment reports BSS The Japanese investors expressed more interest to invest in Bangladesh at recently-held the third round of Public-Private Economic Dialogue between Bangladesh and Japan he said while visiting the Chittagong Export Processing Zone (CEPZ) on Thursday The envoy expressed the hopes that Japanese investment in the Export Processing Zones (EPZs) will increase after the successful dialogue said a press release More and more Japanese companies will come to invest in this country he added General Manager of CEPZ Khorshid Alam maed a PowerPoint presentation highlighting the overall scenario of EPZ as well as Bangladesh Export Processing Zone Authority (BEPZA) Mentioning Bangladesh EPZs as the Bonanza for Investors he said investors from 38 countries have set up industries in the EPZs and invested US $442 billion He informed the ambassador that BEPZA has ensured three layer security system including 24-hour CCTV surveillance in the key points of EPZ and factory premises for the safety of the investors Source httptodaythefinancialexpresscombdtrade-marketmore-japanese-companies-seek-to-invest-in-bangladesh-1510250285date=10-11-2017

Source httpwwwarthosuchakcomarchives388209

১৬০

১১৫ ৪ ৫ ১০ ২০

৩০ ( )

( )

৩০ ২০১৭ ১৫

৩ ও ১২

২ ১৪ ( ) ৩৪

২৪

Source httpwwwarthosuchakcomarchives388257

Daily News Flash 12th November 2017

36

৫৩ ( ) ১৫ ও ২

১ ১ ৪৩ ২১০ ৫৩ ৪৪

৩২ ৫০

৮ ৫৮

২০

১ ২৪

৯ ২৭ ৫৫৫ ৯ ৩৮

-

Source httpwwwarthosuchakcomarchives388125

৩৫ ( ) ৩৫

২৪৫ ৩

১৭ ১১৯ ২১

ও - ১১

৯ ৬ - ৫ ৪

- ও ২

ও ১

Source httpwwwarthosuchakcomarchives388085

- ফ ৪০ ও - ৪০

৬ ( ) ৫ ৯ ৫ ৪৯২ ১১

৫৬ ৪৫১ ২৯

১২ ( ও)

( )

-

- ১০

( ও) ৮০

৪৯ ৩৭ ৯৮

ও ১৭ ১২ ঋ ও

১০ ও ৩ ১০

৩০ ২০১৬ ৩৫ ৬৩

৫ ( ) ৩ ৪৯

Daily News Flash 12th November 2017

37

Source httpwwwarthosuchakcomarchives387762

lsquo rsquo

( )

lsquo - rsquo

( ) ও

২০০২ ( ২ )

৫৪৬

ও ১৫

ও ১৫ ৭৫ ও

১০-১২ ১

১৫৫ ৬৭

ও ২০১০

ও ও ও -

ঋ ঋ

১৫ ৪ ৩

২ ২ ৪ ১৫ ৬

( )

Source httpwwwarthosuchakcomarchives388276

- ও ও

Daily News Flash 12th November 2017

38

৩৮ ও ৪৩

১০০ ৬১ ৫৮ ২২৫ ১ ০৫

Source httpwwwarthosuchakcomarchives387849

- ও ( -২)

৬ ও

ও ৫ ৩০০

ও ও

৭ ২০০

( ও )

ও ও

ও ও

২ - ও mdashlsquo

rsquo ও

-

৫ ৩০০

- ১০ - ৪২৯ -

৩২৮

- ১০

( )

২০১৪

( ও) ও ( )

( )

২ ও ও

ও ও ও

ও ২০১১- ও

ও ( )

Daily News Flash 12th November 2017

39

(১০ ) ৫ ৭৬৩

৬৩ ও

ও ( )

- ২০১৪ ও

ও ও

Source httpwwwprothom-alocomeconomyarticle1362971

ও ও

ও - ও

২০১৬-১৭ ২০ ও

ও ও lsquo rsquo

ও ১০ ও

৭৭ ২০১৭

১৬ ২৭ ও

২০১৬-২০১৭ ২০ lsquo rsquo

ও-

ও ও ও

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564382

ফ ( ও) ১১

ও ও

ও lsquo১১ ও rsquo

১০ ১৩

( ) ( )

Daily News Flash 12th November 2017

40

- ও

-

( )

( )

lsquo ও

rsquo ও

২৬ ১০

১৬

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564383

১ ৫০

ও ২০৫০

২৩

১৬ ৫৯ ২০১১

২০৩০

( )

ঋ ও ও

৬৮ ৬৭

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564384

ফ lsquo

ও ও

( ) ও

- ও

( ও ) ( )

Daily News Flash 12th November 2017

41

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564388

৪৫ ও

৮৪ ৮৩

৯২০

২৭ ২৪ ৭ ৩

৬ ৮৯

৯ ১ ৭২ ১৪ ৪৮

৪৫

ও ১৭ ৫০

১৯৩ ১০ ২০১৫-১৬ ৪১৩ ১০ ও ও

২০১৪-১৫ ৩৭৫ ৮০ ৩৫ ৭০

২০১৩-১৪ ৫১৫ ও

৮১ ২ ৫১ ৩ ২০

২ ও

৮৪

৮১

- ও

৮৩

৮২ ৯৫

ও ও - ও

ও ও ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17112200 - - - -

ও ৫০

ও ( ) ( )

ও ও

Daily News Flash 12th November 2017

42

ও ও

১০০

৮ ও

৩০০ ( )

ও ১৫০

২০০ ১০০

২০০

২৭ ৭

ও ও

ও ৩০ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111811 - - - -

-

২৭ ১১

১০

( ) ২৮৪

৬ ২৮ ৭ ১৫১

৭৪

ও - ও

ও - ও

ও ৩

৭ ১ ২৩

৯৪৪ ৮৮২ ১০

ও ৪ ৭ ও

৪ ৩৮ ও ১৫ ৪১ ২২ ৭০

২০ ৩৬ ১৩ ও

৪৬ ২২ ২০ ও

১৭ ৩৭১ ও ও

১৭ ও ৪৩ ও

Daily News Flash 12th November 2017

43

৬ ২০ ও ১৬

৩৫ ২০ ২৭

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111810 - - - - -

ও ও

১৩০ ও ১৪০

৫৫ ও ৯৭ ১১৩

৩৭

৩৪

৬১৯৩ ৬২ ১১৬১৭

৩০ ১৯

ও ও

ও - ও

৪৮ ৩১

১২ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111808 - - - - -

৩৫ ও ১০

ও ( ) ও

১০

ও ও -

২ ৩০০

২০১৪ ও

ও ৭ ২০১৪ ও ২০১৫

৫ ৭ ও ১২ ৮ ২৩

২০১৩ ১ ৪২০ ২০১৪ ১০ ৫ ১ ৫৭০

১৩ ৪ ও ১ ৩৫৮ ১০

২০১৬ ও ৩ ৫ ১ ৩১০ ২০১৪

২০১৬ mdash ২ ১ ঋ

১০ ও ২০১৩

২৯ ৮০ ২০১৪ ৫ ৭ ৩১ ৫০ ২০১৫

১২ ৩৫ ৩০ ২০১৬ ৭ ৩৭ ৮০

Daily News Flash 12th November 2017

44

২০১৪ ২০১৬

৩২ ৩৫ ও ৫০ ১৯

৫৬

১৭ ৪৬ ২০১৪ ২০১৬

৭২ ১০০ ও ১১১

২০১৪ ২০১৬ ১৫ ৬৩

৯১ ১১৪ ও ১১৮ ৮ ২৩

৮০ ৯০ ও

ও -

ও -

ও ও ও

১০ ও

১০ ও ২২

৭১ ১২ ৪২

৩২ ২৬ ও

ও ও

( ) ও

ও ২০২১ ও ও

৫ ১ ১৬

ও ও

Source httpbonikbartanetbanglanews2017-11-12137992 - - -- -

৫০০ ৫০০ ও

ও ৩০ ২০১৭

৫০০ ও ঋ ২০১৮

৩০

১ ২০ ও ১৫০

১১

Daily News Flash 12th November 2017

45

৩০০ ৬০০

( ) ও

১ ২৫ ও ১০

১০ ও

ঋ ও

৩০ ২০১৭ ৩ ও ১২ ও

( ) ২ ১৪ ২ ১

ও ৩০ ১১

( ) ও ও

( - ) ৬৬ ৫৫ ৩০

( ) ৩৪ ৯০

ও ও ও

( ) ও

ও ও ২০১৫ ৩০ ১০ ২০১৬

১২

( ) ৪১ ২০ ও ২৩ ৬০

৫০ ও

২০১৪ ৩০০ ও ১৪৮ ৪৬ ৫০

১৯১ ৬২ ৩৭ ৩১

১২ ৪৫ ৫০ ২৪

ও ( ) ১৬ ৫৩

ও ১৫ ২২

Source httpbonikbartanetbanglanews2017-11-12137966৫০০- - - - -ও -

৬৩

- ও ও

৬২ ৯৪ ৫

৬২

৯০

২০১৪ - -

- ও

২০১৬-১৭ ৫ ৬২ ও ২০১৩-১৪

১২

( ) ৯০

-

ও - - ও -

Daily News Flash 12th November 2017

46

- ও

৬২ ৯৪

২০১৩-১৪ ৭০ ৭৮ ২০১৪-১৫ ৫৪ ২২

২০১৫-১৬ ৩৯ ৩৩ ও ২৬ ২৩

ও ২০১৩-১৪

১২ ৩৬ ২০১৪-১৫ ৫ ৯১ ও ২০১৫-

১৬ ১৭ ৩০ ৫ ৬২

৩০ ২০১৭ ১০

২ ৮৬ ও ৩

ও ২৪ ( )

২৭

১৯৬৪ ১২

৪ ও ও ১৯৭২

ও ( )

ও ৩৪ ৮ ও

৯০

৪৫ ও ৫

১৯৬৪ ১৯৭২ ১৯৮৯

১০০ ও ২৬ ১৬ ২০ ৫৪৩ ৭৭

৫ - ৫১ ১৫ ৬০ ও

৩২ ৯০

Source httpbonikbartanetbanglanews2017-11-11137853 - - - - - -৬৩---

( ) ও

১০

ও ও ও

-

ও ও

ও ঋ ও

ও ২০১৪ ও

ও ও

২০১৩

( ) ও

Daily News Flash 12th November 2017

47

২০১৪

২০১৪-১৬ ও

২০১৪

ও ২০১৪

২০১৫ ২৭ lsquo ও rsquo

ও ও

২০১৬ ২৪

( )

ও ও

- ও

ও ও ১৯৮৩ ২০১৬

ঋ ( ) ৫৬০

৮৬৪

২০১৬ ২০১৯ ও

ও ১৫ ২৫ ৩০ ও ৩০

ও ঋ ও

২০১৬ ঋ ১

৩৪২ ঋ ৬ ৫২ ১২৩

ঋ ২ ৪৪৩ ঋ ১০

৮৪ ঋ ৪০

৭২৬

ও ২০১৬ ৭৪১

৪৫৭

২০৭ ২৪৪

১০ ও

ও ও ও ও ও

Daily News Flash 12th November 2017

48

Source httpbonikbartanetbanglanews2017-11-12137998 - - - - - ও- -

( )

৩০ ২০১৭ ২০

( ) ২ ১ ১ ৫৯ (

) ৩০ ( ) ১৫ ৩৭

ও ২৮ ১১

( ) ২৮

২০১৬ ৩০ ১৮ ২০

২০১৪ ও ২০

১৫ ৩০

১৮ ৮০ ও ৯ ৬০

Source httpbonikbartanetbanglanews2017-11-11137850 - - - -

ফ ৭ ২০১৭-১৮ ৭ ৩ ৭৪

( ) ও

( - ) ১ ১৫০ ৫৮

(২০১৬-১৭) ১ ৭৫ ৩ ৬০ ৭

৩ ১ ১৫৯ ২০ ৭৪

ও mdash

৬ ৬৫ ১৭ ৬৩

mdash ও ও

১৫ ৪১ ২২ ৬৯ ১০

১৯ ৬৬ ১০ ২০ ২২

mdash ও ও ও

৩৯ ৫১ ও ২ ও

১৬ ৪৬ ও ও ৬ ৯৯ ও

৩ ৮৫ ৯ ৯৫

১৯ ৮২

৮০

ও ( )

mdash

Daily News Flash 12th November 2017

49

ও ও

Source httpbonikbartanetbanglanews2017-11-10137755 - - - -৭- - --

ফ - ফ ও -ও

-ও

-ও

২৯-১০-২০১১ ৩ ( ) ২৮-১০-২০১৪

৩ ( ) ২৮-১১-২০১৬

২৮-১০-২০১৭ ৩ ( )

২০১৬-১৫৮১৩৪ ৪৪ ০৭-০৮-

২০১২ ১২(৬) ২ ( ) ৬ ( )

-ও - ও ২ ( )

৬ ( ) ও ও

-ও ৩ ( )

-

ও ও

১৯৯৪

২ ২২-০৫-২০১২ -ও ৩

- -

১৯৯৪

-ও

- ও

( )

১৯৯৪

১৯৯৪ -ও

Source httpwwwsharenews24comindexphppage=detailsampnc=1ampnews_id=6587

Daily News Flash 12th November 2017

50

ফ ফ

১৫ ও

-( ) ও

৪৯

১৬ ৮৫

৫১ ৪৯

৪ ৩৬

১৯১৩

১০০ ও ১৯০১ ১৯৬০

Source httpswwwdailystockbangladeshcom - - - -

- ( -১)

( ) ৮

৩০০ ও

( ) ১৬

- ২২৮ ৪৯ ১৮৩ ২০১৮

( ) ও

১৫০

( ) ও ৪০ ৩০

ও ও

ও ও

Source httpswwwdailystockbangladeshcom - - -

Page 16: Daily News Flash, 12th November, 2017 -  · PDF filebanglalink's revenue falls 4.57pc in q3 ... banks lack remedial strategy while npl rises worryingly

Daily News Flash 12th November 2017

16

Export earnings from the US the largest destination for Bangladeshrsquos exports in the July-October period of FY18 grew by 228 per cent to $187 billion from $183 billion in the same period of FY17 Apparel export to the market grew by 244 per cent to $168 billion from $164 billion The EPB data showed that the countryrsquos export earnings from Japan in the July-October period of FY18 fell by 394 per cent to $33390 million from $34760 million in the same period of FY17 Export earnings from China in the four months of the FY18 decreased by 2242 per cent to $22475 million from $28971 million in the corresponding period of last fiscal year Parvez said that the domestic consumption in China slightly decreased in recent times and global retailers also cut import orders from Bangladesh for their Chinese stores due to congestions in the Chittagong port lsquoWe are losing many orders from global brands as we have been failing to meet lead time due to the problem in the portrsquo he said Source httpwwwnewagebdnetarticle28200exports-to-eu-states-but-germany-post-encouraging-growth

REHAB LEADERS DEMAND CUT IN TAXES Realtors on Saturday urged the government to cut tax rates at different levels of the housing sector to give a much-needed boost to the sector They also requested the government not to raise question over the source of the minimum paid up capital (Tk 1 crore) a real estate company requires to be a member of the Real Estate and Housing Association of Bangladesh REHAB leaders made the requests at a joint meeting with the National Board of Revenue held in a city hotel on the day NBR chairman Nojibur Rahman attended the meeting as chief guest while REHAB president Alamgir Shamsul Alamin senior vice-president Nurun Nabi Chowdhury Shaon and vice-president Liakat Ali Bhuiyan were also present among others Alamgir said that the REHAB made it mandatory for its member companies to have Tk 1 crore paid up capital and he requested the government not raise question over that money The government earlier made it mandatory for all developer companies to be REHAB members Alamgir also urged the government to form a re-financing fund worth Tk 20000 crore under Bangladesh Bank to provide low-interest and long-term loans to the potential apartment buyers He demanded apartment registration fee to be reduced to 65 per cent from the existing 155 per cent mentioning that other SAARC countries maintained it at 4-7 per cent Alamgir said that the government was losing huge revenue due to the high apartment registration fee as buyers were showing unwillingness to register their apartments at high cost Nurun Nabi urged the government to meet the REHABrsquos longstanding demands to save the housing sector from ruination He also called for reducing corporate tax of non-public traded companies to 20 per cent from the existing 35 per cent He sought a cut in the tax on signing money to 75 per cent from the existing 15 per cent Alamgir also appealed for reducing tax rate on apartment resale to 3 per cent He also sought total 15 per cent tax and VAT on professional services like engineering and architecture from the current 27 per cent Nojibur said that an NBR-REHAB joint working group would be formed to work together for the betterment of the housing sector He also requested REHAB leaders to provide opinions on the income tax law that would be amended soon He assured them that the NBR would consider their demands Source httpwwwnewagebdnetarticle28201rehab-leaders-demand-cut-in-taxes

Daily News Flash 12th November 2017

17

BrsquoDESH BHUTAN START TRADE DATA SHARING IN JAN Bangladesh and Bhutan have decided to start exchanging export-import data from January 1 to verify trade documents to check duty evasion and other customs-related offences through misdeclarations of goods and prices during trades between the two countries The data will be mailed in the first week of the subsequent month according to the decision taken at the 3rd Bangladesh-Bhutan joint group of customs meeting held in November 7-8 in Thimphu the capital of the Himalayan kingdom Initially both sides will exchange export data of three commodities and gradually the scope will be expanded to all the export items Delegations from the both sides also agreed to boost the existing trade volume between the two countries and improve infrastructure at land customs stations of Bangladesh and Bhutan to facilitate border trade Bhutan informed the meeting that they were establishing a mini dry port at Phuentsholing which would boost border trade between the countries National Board of Revenue member (customs audit modernisation and international trade) Khondaker Muhammad Aminur Rahman and Bhutanrsquos Department of Revenue and Customs director Yonten Namgyel led the respective delegations at the meeting Following a request from Bangladesh Bhutan agreed to put necessary information including country of origin name and address business identification number and tax identification number of importer on the export packages as per the current Import Policy Order of Bangladesh Both sides also agreed to hold ground-level customs meetings twice a year alternately at Phuentsholing of Bhutan and Burimari of Bangladesh to resolve customs-related problems smoothly The two countries also decided to raise the issue of improving the infrastructure at Changrabandha (Indian LCS opposite to Burimari of Bangladesh) and Jaigaon (Indian LCS opposite to Bhutanrsquos Phuentsholing) to ensure smooth border trade between the countries Bangladesh also requested the landlocked kingdom to use Nakugaon-Dalu-Gelephu route for their imports and exports as Bangladesh has decided to upgrade Nakugaon LCS as a trade hub for border trade with India and Bhutan Bangladesh side also underscored the potentials of use of riverine routes as mode of transport for export and import of goods Bhutan may also get duty-free market access for limestone powder export to Bangladesh according to the decision of the meeting Mohammad Ehteshamul Hoque NBR first secretary of customs modernisation and international trade on Saturday told New Age that both countries had resolved some small-scale problems to facilitate bilateral trade and committed to further enhancing border trade The planned ground-level meeting of customs officials will also play a role in identifying and resolving bottlenecks in trade between the two nations he said According to the NBR data Bangladesh exported products worth $322 million to Bhutan in the fiscal year 2016-2017 while it imported from the country products worth $3315 million Bangladeshrsquos highest export earnings from the country were $913 million posted in the FY 2011-2012 and the earnings have been declining with fluctuations over the years Bangladeshrsquos major export items to Bhutan are bakery items fruit and vegetable juices tableware kitchenware and toiletry articles of plastics non-alcoholic beverages menrsquos singlets briefs pyjamas medicament mixtures rice aluminium structure and few garment items On the other hand the country imports mainly citrus fruits stone granite dolomite limestone ferro-alloys apple and gypsum from Bhutan Source httpwwwnewagebdnetarticle28202bdesh-bhutan-start-trade-data-sharing-in-jan

Daily News Flash 12th November 2017

18

TAX FAIRS AT ALL ZONES BEGIN TODAY Income tax fair begins today at all income tax zones across the country to provide taxpayers with services in a similar hassle-free atmosphere they got at recently-concluded countrywide weeklong tax fair National Board of Revenue chairman Md Nojibur Rahman on Saturday in a statement said that the decentralised fair at the zones with similar facilities like the weeklong national tax fair would continue till November 30 the last day of income tax returns submission Tax officials will also start issuing income tax ID cards from November 20 to the taxpayers under each tax zone in Dhaka Issuance of ID cards will continue till November 28 There are 31 income tax zones across the country including 15 in Dhaka and four in Chittagong Officials of the revenue board said that the NBR took the decision so that all taxpayers could file their tax returns without any hassle with maximum support from tax officials Initially the NBR planned to issue ID card from November 9 which was deferred due to lack of preparation Source httpwwwnewagebdnetarticle28203tax-fairs-at-all-zones-begin-today

BTRC LIKELY TO LOSE RIGHTS OVER UNUSED BALANCE IN BLOCKED SIMS Mobile phone operators are likely to get relief from paying the government the unused balance in the SIM cards that would be blocked by the telecom regulator for various reasons especially for illegal voice-over internet protocol calls Mobile operators however will have to return the unused balance to its owner if claimed said officials of Bangladesh Telecommunication Regulatory Commission They said that a proposed amendment to the 4G licencing guidelines that would be passed by the telecom regulator in the upcoming commission meeting following instruction from prime ministerrsquos ICT advisor and posts and telecommunication ministry The instruction was made based on a meeting between the mobile phone operators and the government high officials on the proposed 4G licencing guidelines they said As per the BTRC approved draft 4G licencing guidelines that would be revised it was mandatory for all the operators to pay the BTRC the remaining balance amount of the identified illegal prepaid VoIP callers and unsuccessful or fake SIM registration of service connection fund at the time of deactivating them It was also mentioned in the guidelines drafted earlier that there would not be any rights of the mobile network operators over the forfeited account balance of the illegal VoIP callers Whereas it was also mandatory for the operators to pay the remaining balance of such SIM cards within ten days of the following month In case of deactivation of SIM cards for illegal VoIP calls mobile operators would keep the remaining balance while operators would have to pay the balance to its owner if claimed for deactivation of SIM cards for any other reason Such specification about the unused balance would help the operators while the government would lose its rights over the forfeited fund BTRC officials said Such initiative might foil another BTRC move to take stand against the mobile phone operators for non-payment of unused balance in the SIM cards which were blocked by the telecom regulator for various reasons Countryrsquos leading mobile phone operator Grameenphone in February this year deposited Tk 733 crore to the telecom regulator against the unused balance in the connections that were blocked between 2008 and 2014

Daily News Flash 12th November 2017

19

While other operatorsmdash Banglalink Robi Airtel Citycell and Teletalk mdash were yet to pay any fund to the commission in this regard Airtel formerly known as Warid Telecom has already merged with Robi in November 2016 Apart from the unused balance issued the government acknowledged almost all the issues raised by the mobile phone operators about the 4G licencing guidelines BTRC officials said Source httpwwwnewagebdnetarticle28107btrc-likely-to-lose-rights-over-unused-balance-in-blocked-sims

BONDED WAREHOUSE BACK-TO-BACK LC SHOULD BE OPEN TO ALL EXPORTERS Bonded warehouse facility and back-to-back letter of credit facility should be open for all for the export of all sorts of goods to diversify export products said experts and businesses at a workshop on Thursday They came up with the observation while speaking at a stakeholdersrsquo consultation workshop on lsquoExport Diversification Challenges and Prioritiesrsquo organised by Bangladesh Enterprise Institute at IFIC Tower in Dhaka Commonwealth Secretariat adviser and head of international trade and regional cooperation Section Mohammad Razzaque presented a keynote paper on lsquoRevitalising Bangladeshrsquos export trade Policy issues for growth acceleration and diversificationrsquo Razzaque in his presentation said that there should be alternatives of diversifying export destinations and products to achieve $60 billion export target by the year 2021 Although the country has continued to achieve more than 6 per cent growth export to GDP ratio has declined a bit in last couple of years and to increase the ratio for sustaining economic growth there was no alternative to increasing exports he said To facilitate export diversification and ensure equal facility treatment among the exporters all the sectors should get bonded warehouse facility as well as back-to-back letter of credit facility that helped the countryrsquos readymade garment sector to grow Razzaque said Salman F Rahman private sector development advisor to prime minister also said that the bonded warehouse and back-to-back LC facilities should be opened for all to support other exporters Suggesting for the continuation of existing facility for the RMG sector Salman also president of BEI said lsquoWe need product diversification for the economic growth but not at the cost of RMG sectorrsquo Former Dhaka University economics department chairman Wahiduddin Mahmud said that the gov ernment should set a broad category and announce subsidy and cash incentives for longer period to help the sectors to contribute to exports as well as economic growth Speaking about the exchange rate issue the eminent economist also said lsquoAs balance of payment has turned negative the government should not try to control the exchange rate anymorersquo Centre for Policy Dialogue distinguished fellow Mustafizur Rahman said lsquoApart from diversification of other products intra-RMG sector product diversification is also important as we have created a strong foothold in the sector and itrsquos a one trillion dollar marketrsquo Speaking about the repeated change in policy Federation of Bangladesh Chambers of Commerce and Industry president Shafiul Islam Mohiuddin said lsquoElectricity price has been doubled with just a so-called hearing and that led our foreign partners to backtrackrsquo Speaking about the 070 per cent source tax imposed on apparel sector commerce minister Tofail Ahmed said rsquoAlthough we cannot do a lot for the sector but such tax should not remain on the sectorrsquo Source httpwwwnewagebdnetarticle28039bonded-warehouse-back-to-back-lc-should-be-open-to-all-exporters

Daily News Flash 12th November 2017

20

GOVT TO SPEND FUND FOR TOBACCO CONTROL MEASURES CAMPAIGNS The government has finally framed a policy on the use of health development surcharge it imposed on tobacco products three and half years ago The health and family welfare ministry on Wednesday issued the gazette notification of Health Development Surcharge Management Policy-2017 identifying 16 sectors for spending the fund on The fund will mainly be used for limiting the demand for and supply of tobacco products financing tobacco control activities conducting researches and campaigns and operating Tobacco Tax Cell of the National Board of Revenue The revenue board in July 2014 imposed 1 per cent surcharge on all tobacco products both locally produced and imported ones aiming to spend the fund for implementing the programmes to control and discourage the use of tobacco products and prevent tobacco-related diseases In the last three fiscal years (2014-15 2015-16 and 2016-17) the tax authority collected around Tk 900 crore as health development surcharge from tobacco products including cigarette bidi gul zarda and other smoking and chewing tobacco products But the fund remains idle as the health ministry has not got the access to the fund over the years as there was no policy on how to the money be used Officials of the revenue board said that formulation of the policy had paved the way for utilising the fund for tobacco control and prevention of tobacco-related diseases They said that every year around Tk 300 crore would be added to the fund According to the policy the collected surcharge will be used for financing national tobacco control activities operation of the NTCC under the ministry campaigns in the mass media on health hazards of tobacco products and tobacco control and providing trainings to stakeholders The fund will also be used for setting up National Quitline a hotline to help people quit tobacco consumption and providing financial and technical support to organisations for implementation of programmes to prevent tobacco-related non-communicable diseases Programmes will also be taken to create awareness among farmers against tobacco cultivation and motivate them to cultivate alternative crops according to the policy According to the policy a Health Development Surcharge Management Committee headed by the health minister will supervise the proper use of the fund The National Tobacco Control Cell will provide secretarial support to the committee Fund from other sources such as possible imposition of any surcharge on products hazardous to health in future and donations from local and foreign sources will also be added to the fund it said The expenditures from the fund will be audited in line with the methodology followed for the other government agencies it said According to the Global Adult Tobacco Survey-2009 some 413 crore people or 43 per cent of the total population of Bangladesh consume tobacco products On the other hand 430 crore people are victims of indirect smoking According to the World Health Organisationrsquos 2004 data 57000 people die every year in Bangladesh suffering from tobacco-related diseases The government has taken an initiative to make the country smoking free by 2040 Source httpwwwnewagebdnetarticle28040govt-to-spend-fund-for-tobacco-control-measures-campaigns

STUDY BLAMES MOBILE HUNDI FOR FALLING REMITTANCES THRU BANKING CHANNEL A study of Bangladesh Institute of Bank Management on Thursday blamed Hundi through mobile financial services including bKash Rocket mCash and UCash for decreasing remittance through banking channel

Daily News Flash 12th November 2017

21

The study conducted by a six-member team identified distance of bank branches delay in receiving money misconduct by bankers submission of various documents weekly holidays of banks and illegal immigrants as the reasons for increasing remittance inflow through mobile Hundi The six-member team headed by BIBM director Shah Md Ahsan Habib presented the study at the seminar presided over by BIBM director general Toufic Ahmad Choudhury held in the auditorium of the institute in the city lsquoIn Bangladesh remittances declined by an estimated 111 per cent in 2016 in the face of lower oil prices and fiscal tightening in the GCC countries Among other reasons use of Illegal channel by the expatriates is doing harm to our countryrsquo Bangladesh Bank deputy governor Shitangshu Kumar Sur Chowdhury said He said that it would not be possible to stop Hundi totally but BB is working to check the transactions through the illegal channel To ease the formal channel BB has reduced the security deposit requirement for the exchange houses abroad to make arrangements for remittances with local banks Shitangshu said The BB deputy governor hoped that Non-Resident Bangladeshis would come forward to know the importance of their money to be sent through banking channels BB former executive director Yasin Ali said that national economy was being hindered due to remittance inflow through illegal channels He suggested using mobile banking facilities for remittance inflow saying that the area of mobile banking expanded many fold in last five years Helal Ahmed Chowdhury former managing director of Pubali Bank suggested bankers to be courteous with bank customers Source httpwwwnewagebdnetarticle28041study-blames-mobile-hundi-for-falling-remittances-thru-banking-channel

POLICY SUPPORT MUST TO DIVERSIFY EXPORT BASKET Speakers on Thursday said that in order to diversify the countryrsquos export basket export-oriented businesses should be given the policy support that has proved highly successful in bringing vibrancy to the countryrsquos RMG sector They were speaking at a workshop styled ldquoExport Diversification Challenges and Prioritiesrdquo organised by Bangladesh Enterprise Institute (BEI) in the auditorium of International Finance Investment and Commerce Bank in Dhaka Dr Mohammad A Razzaque former head of International Trade Policy at Commonwealth Secretariat in London presented a keynote paper in the programme chaired by Salman F Rahman private sector development advisor to Awami League President and Prime Minister Sheikh Hasina Skill development measures may also play a vital part in this regard Salman said export diversification would be possible only when adequate and appropriate policy support is provided to all export-oriented industries Dr Razzaque in his keynote paper suggested revamping and deepening policy support such as providing cash assistance and bonded warehouse facilities to all such industries to improve their export competitiveness He also highlighted the need for further expanding Bangladeshrsquos export basket as its penetration into global export markets in the last decade was very insignificant Eminent economist Prof Wahiduddin Mahmud said ldquoIn addition to providing subsidies and cash incentives to thriving and promising sectors on a long-term basis the government should take measures to strengthen the countryrsquos manufacturing baserdquo

Daily News Flash 12th November 2017

22

Shafiul Islam Mohiuddin president of the Federation of Bangladesh Chambers of Commerce and Industry said the governmentrsquos support is a must to create a strong manufacturing base for export diversification ldquoSkill development measures may also play a vital part in this regardrdquo Addressing the event as the chief guest Commerce Minister Tofail Ahmed said export diversification depends on businessmenrsquos initiatives He however pledged all necessary support from the government for export diversification to meet the countryrsquos $60 billion export target by 2021 BEI President Farooq Sobhan emphasised engaging the private sector in relevant policy discourses to achieve the target ldquoA private sector-oriented policy mechanism is very important as rapid changes are taking place in the global trade landscape Understanding implications and generating timely policy responses to unfolding developments will be meaningful only when the private sector is able to benefit from themrdquo said Sobhan Among others Mustafizur Rahman a fellow at the Centre for Policy Dialogue Kazi M Aminul Islam executive chairman of Bangladesh Investment Development Authority Bijoy Bhattacharjee vice chairman of Bangladesh Export Promotion Bureau and Md Nojibur Rahman chairman of the National Board of Revenue also spoke Source httpwwwdhakatribunecombusinesseconomy20171109policy-support-must-diversify-export-basket

BANKS LACK REMEDIAL STRATEGY WHILE NPL RISES WORRYINGLY Some of Bangladeshs banks dont have in-depth look into the problem of spiraling non-performing loans (NPL) while many others try to frame remedial strategies perfunctorily Such observations came out from studies on banking as well as financial sector at large as the NPL surge worries many quarters One finding shows that around 11 per cent of the countrys banks did not have an in-depth look into the issue of NPLs in the past year despite a growing concern over the problem in the financial arena The recent industry-wide survey also revealed that around 30 per cent of the countrys banks had not assessed their past NPL-reduction strategies at all while 36 per cent did so only on an ad-hoc basis The findings came out from the survey of the Chief Risk Officers at the banks on issues concerning NPL strategy in their institutions Leading banking research and training institution Bangladesh Institute of Bank Management (BIBM) conducted the study The research findings come at a time when the ballooning NPLs is becoming a major issue with the countrys banking industry and also triggering concerns and criticisms As per the central bank data the volume of NPLs had increased by more than 21 per cent to Tk 62172 billion by the end of 2016 swelling from Tk 51371 billion a year before The findings are genuinely surprising as we are struggling to find a bank for which NPL is not an issue in some capacity said Sazib Azad Senior Advisor of BIBM who led the research initiative Furthermore if the bank itself is immune to the impact of NPL even then they need to consider whether they are immune from structural or market-level impacts as well he told the FE However relevant survey results show the potential lack of such considerations as only 10 per cent of bank CROs taking part in the survey said that their banks are addressing potential dependence on market assessment and strategy What is more surprising is that the NPL strategies of around 62 per cent of the banks are not signed off by the boards the survey found

Daily News Flash 12th November 2017

23

This is quite striking because given the severity of the non-performing-loan issue the NPL strategy should be signed off by the boards Mr Azad said adding Boards are not only accountable for the health of the banks but are also in position to release resources to get to grips with the issue In addition the survey result also revealed 31 per cent of the banks not communicating their NPL strategy across the bank NPL as an issue needs to be addressed from ground up But the results show that this is not happening at our banks said an expert who was involved with research Meanwhile 25 per cent of the CROs said they were not tracking the implementation and effectiveness of NPL strategy in their banks- something which according to experts is a cause of concern Given how critical an issue NPL exposure is we would expect every CRO to track how the NPL strategy is being implemented its effectiveness and how to improve matters to the Board Risk Committee and the Board the banking experts said Meanwhile the survey results also found that although 94 per cent of the banks had stress-tested their balance sheet in terms of NPL drag this figure drops to 56 per cent while considering the impact to and from the wider economy market and structural aspects It seems that 33 per cent of the banks do not formally consider this aspect with a further 11 per cent not looking at this dimension at all the researchers said Experts also noted that with Basel 3 farther putting capital under pressure sensible banks should dynamically model the impact of key risks to their capital However the survey results show 17 per cent of the banks are not doing so while 31 per cent doing it in a limited manner Asked whether their banks risk-appetite-statement metrics reflected their NPL strategy 36 per cent of the respondents said they do so in a limited capacity while a further 80 per cent are not doing that at all It was also found that 25 per cent of the C-Suites have specific NPL-strategy-related targets while 31 per cent of the CROs have the same Meanwhile when asked whether they consider their NPL strategy to be embedded just over half of them or 52 per cent of the survey participants said Yes This according to experts is clearly not fit for purpose given the severity of the NPL issue facing the banking sector The first step in looking into the NPL issue is to assess internal capabilities to effectively manage NPLs Next external conditions or operating environment needs to be considered Finally the capital implications of the NPL strategy need to be analyzed said Sajib Azad The findings of the survey will be shared with the stakeholders during the next CRO forum of BIBM expected to take place next month where the issue of Risk Culture will also figure high The biggest reason for the swelling of NPL in our banking sector is a lack of good governance To check the ballooning of NPL the internal governance of the banks has to be strengthened above all Director-General of BIBM Toufic Ahmad Choudhury said Meanwhile the survey also found banks tending to consider time-horizon portfolio segment and exposure-level-based targets to be broadly equally important to their NPL strategy In terms of options preferred for reducing NPL banks consider change of exposure type to be most effective (36 per cent) followed by active portfolio reductions (33 per cent) and hold forbearance (31 pe rcent) Source httptodaythefinancialexpresscombdfirst-pagebanks-lack-remedial-strategy-while-npl-rises-worryingly-1510417700

GOVT SEEKS US$183B UNDER 39TH JAPANESE ODA PACKAGE The government has sought around US$183 billion worth of assistance from Japan for bankrolling six development projects officials said Saturday

Daily News Flash 12th November 2017

24

Officials at the Ministry of Finance (MoF) said they have already discussed the issue with the Japan International Cooperation Agency (JICA) We are hopeful of receiving funds under its upcoming 39th Official Development Assistance (ODA) package to finance six development projects a senior MoF official told the FE He said a JICA mission in September-October last completed its visit to Bangladesh to explore the possibilities of financing the proposed projects We are hopeful of signing the 39th ODA package with JICA within a couple of months he said After signing the loan deal the largest bilateral donor will start disbursement of funds from the proposed $183 billion aid package for the six development projects the MoF official added The proposed six projects under the 39th ODA package are Matarbari port development Dhaka MRT line-6 construction (phase-III) Dhaka MRT line -5 feasibility study Matarbari ultra super critical coal-fired power plant (phase-IV) Jamuna Railway Bridge construction and Health service strengthening project A senior official of Economic Relations Division said the proposed 39th ODA package will be very useful for Bangladesh as it will be utilised to develop the Matarbari port ongoing Matarbari power plant project conduct feasibility study and detailed design of the MRT line-5 in Dhaka and to construct railway bridge over the River Jamuna All of these projects are very important for the country to ensure smooth transportation and uninterrupted power supply he added Japan is the largest bilateral development partner of Bangladesh Over last 5-6 years it has enhanced its aid with confirmation of more than US$10 billion worth of funds under each of the aid packages In the last 38th ODA package signed in June 2017 JICA provided Yen 178223 billion ($164 billion) for utilising in six development projects on transport infrastructure power and water sector improvement works In June 2016 Japan signed the 37th ODA deal worth $150 billion (17354 billion Japanese Yen) with Bangladesh and in December 2015 it inked the 36th ODA package confirming $12 billion concessional loan for six development projects Under the last 38th ODA package JICA offered $700 million (Yen 76825 billion) for Hazrat Shahjalal International Airport Expansion project $480 million (Yen 5273 billion) for 2nd Kanchpur Meghna and Gumti bridges construction $50 million (Yen 5593 billion) for Dhaka Mass Rapid Transit development project (Line 1) $100 million (Yen 10745 billion) for Matarbari ultra super critical coal-fired power plant $190 million (Yen 20477 billion) for Dhaka underground substation construction project and $110 million (Yen 11853 billion) loan for small scale water resources development project Japan has so far provided Bangladesh with nearly US$12 billion in assistance since the financial year (FY) 1971-72 Source httptodaythefinancialexpresscombdfirst-pagegovt-seeks-us183b-under-39th-japanese-oda-package-1510417739

SUMMIT GROUP ENTITIES TO ISSUE PREFERENCE SHARES WORTH $1250M A subscription closing ceremony to raise capital through issuance of preference shares worth BDT 1000 million (USD 1250 million) for Summit Barisal Power Limited amp Summit Narayanganj Power Unit II Limited was held recently at Pan Pacific Sonargaon Dhaka said a statement LankaBangla Finance Limited acted as the Mandated Arranger LankaBangla Investments Limited acted as the Issue Manager and The City Bank Limited acted as the Agent Account Bank amp Custodian Bank to raise the fund In the event Mr Lt Gen (Retd) Engr Abdul Wadud Managing Director of Summit Barisal Power Limited amp Summit Narayanganj Power Unit II Limited Mr Khwaja Shahriar Managing Director amp

Daily News Flash 12th November 2017

25

CEO of LankaBangla Finance Limited Mr Mohammed Nasir Uddin Chowdhury Managing Director of LankaBangla Capital Market Operations Mr Mominul Islam Managing Director amp CEO of IPDC Finance Limited Mr R Q M Forkan Managing Director amp CEO of Bangladesh Commerce Bank Limited Mr Faruq M Ahmed Additional Managing Director of Trust Bank Limited Mr Akthar Hamid Khan Deputy Managing Director of Pubali Bank Limited Mr Arif Hasan Khan Vice President of Modhumoti Bank Limited Mr Mohammad Ibrahim Khalil FCA Vice President amp CFO of Bank Asia Limited and Mr Mahbub Jamil Vice President and Head of Structured Finance of The City Bank Limited along with other senior officials from the companies were present Source httptodaythefinancialexpresscombdstock-corporatesummit-group-entities-to-issue-preference-shares-worth-1250m-1510411878

BMBA URGES MUHITH TO EXEMPT INVESTMENTS BY MF SPONSORS Bangladesh Merchant Bankers Association (BMBA) has urged the finance minister to exclude some components including sponsors investments in mutual funds (MFs) from the banks exposure to the capital market It made the request for ensuring an environment conducive to gradual development of the capital market according to a proposal submitted to Finance Minister AMA Muhith last week The BMBA said the long-term or strategic investments needed to be excluded while calculating the exposure as these investments were not intended for frequent trading Non-convertible preference shares and non-listed securities also need to be excluded from the capital market exposure as it will never influence the capital market volatility it said in a letter to the minister According to the letter the MFs are passive investments where investors themselves are not involved in investment decision making and such fund portfolios are mostly of long-term nature than frequent trading On the other hand the sponsors of the MFs need to hold 10 per cent of the investment until liquidation of the fund So considering the fact the sponsors portions in MFs need to be excluded from the banks capital exposure said the BMBA proposal As per the Banking Act 1991 it said reporting requirement is on solo basis but the central bank has introduced consolidated calculation which is of dual effectdouble counting in the market exposure This kind of restrictive measure creates panic situation in the market and may hinder the potentials and prospects of the capital market as a whole the BMBA said It also said that this kind of practice needed to be stopped as such requirements and reporting practice would further squeeze the market and that the investors would lose their interest The BMBA said some organisations have invested on strategic purpose and were holding positions in the board and their exposure increased with rising the market price of MF units On the other hand in compliance with the securities rules they are unable to sell shares to reduce exposure the BMBA said terming the situation complicated In its letter the BMBA said that the capital market exposure of some banks and financial institutions increased without fresh investments following the upward trend of the market price as the exposure is calculated on the basis of market price If the banks need to go for selling off their excess exposure this will create unnecessary selling pressure on the market said the BMBA The association requested the finance minister to consider their proposal to facilitate the growth of the capital market by its own strength and prospect Source httptodaythefinancialexpresscombdstock-corporatebmba-urges-muhith-to-exempt-investments-by-mf-sponsors-1510411950

Daily News Flash 12th November 2017

26

ATIUR STRESSES ROLE OF REGULATORS IN DIGITAL FINANCIAL INCLUSION Former Bangladesh Bank Governor Dr Atiur Rahman chairs a session at the 5th Biennial Competition Regulation and Development Conference at Jaipur in India on Thursday Success of digital financial inclusion depends on the prudent role of the regulating bodies to a great extent And the recent progress in Bangladesh in this regard is a good example for the rest of the world to follow said Dr Atiur Rahman former governor of Bangladesh Bank says a statement He was chairing a session at the 5th Biennial Competition Regulation and Development Conference at Jaipur India on Thursday The three-day conference is being hosted by CUTS International and OECD Speakers of the session included Ravinder S Aurora Senior Vice President of Mastercard David Ongolo Kenyan Competition Authority and Dr A K EnamulHaque Professor of East West University Dhaka Many developing countries survived and even thrived during the last global financial crisis because they chose to follow a broad-based financial inclusion strategy And digital solutions played a crucial role in this financial inclusion drive said Dr Rahman He added that service providers must focus on reaching out to the customers in the rural socio-economic conditions Dr Rahman said that experience from Bangladesh can answer many of the burning questions regarding digital financial inclusion The central bank of the country has facilitated bank-led digitisation drive Be it Mobile Financial Service or be it Agent Banking the Bangladesh Bank has encouraged traditional players (ie the commercial banks) to lead the way And it has been proven to be very successful He also said that the world is witnessing only the beginning of the digital finance revolution Hence we must learn from all these experiments share our experiences and know-hows Only then we can work towards shaping global standards and practices Dr Rahman finally asked all central banks to be more proactive and collaborative with other stakeholders including non-traditional financial service providers to facilitate orderly development of digital financial inclusion so that consumers interests are better protected The grievance redressal mechanism developed in Bangladesh Bank with infusion of state of the art technology to gain trust of the customers in financial inclusion was also discussed widely in the session The panelists highly appreciated Bangladeshs regulatory move with public interest in mind using latest technology for replicable digital financial inclusion Source httptodaythefinancialexpresscombdtrade-marketatiur-stresses-role-of-regulators-in-digital-financial-inclusion-1510416319

FAO FEARS NEGATIVE BD FOOD OUTPUT GROWTH ON FLOODING Recent flooding has dampened the outlook for Bangladesh a likely third successive season of little or negative food production growth mainly rice reports UNB quoting FAO Barring major setbacks production recoveries could instead permit Bangladesh and Sri Lanka to slightly lower their 2018 imports to 11 million and 450 000 tonnes respectively according to the latest Food Outlook published by the UN Food and Agriculture Organisation (FAO) Among other rice importers Bangladesh Iraq Nigeria and the Philippines are all similarly predicted to replenish their inventories according to the report a copy of which obtained by the news agency These gains are however likely to be offset by stock reductions in the Republic of Korea Madagascar Sri Lanka and the United Republic of Tanzania all linked to output shortfalls Although the use of rice as animal feed is being sustained by the release of supplies from government granaries in Japan the Republic of Korea and Thailand more affordable feedstuffs are expected to displace rice in most other countries especially in Bangladesh China (Mainland) and Vietnam

Daily News Flash 12th November 2017

27

Since the previous Food Outlook report a series of unfavourable climate-related events have affected main paddy crops in the Northern Hemisphere which have now reached the harvesting stage This has been the case in Asia where unlike 2016 the critical Northern Hemisphere summer months were characterised by mixed growing conditions that inhibited planting expansions As a result FAOs latest forecast of world rice production in 2017 points to a broadly stable output level of 5008 million tonnes Production in Asia is now forecast to fall 550 000 tonnes below the 2016 bumper harvest to 4525 million tonnes The UN agriculture agency has said the cost of importing food is rising in 2017 driven by increased international demand for most food stuffs as well as higher freight charges The cost of importing food is forecast to rise six per cent in 2017 to $1413 trillion making it the second highest bill on record while food commodity prices have been generally stable according to the latest Food Outlook that expressed concern about the economic and social impact of this trend on poor countries Although weather disruptions are set to stall production growth this season global rice supplies are still forecast to exceed utilisation enabling a small expansion of world rice inventories Global trade is expected to rise only modestly in 2018 after staging an 8 per cent recovery in 2017 The food import bills are set to increase by double-digit rates for least-developed countries (LDCs) and low-income food-deficit countries Aromatic rice varieties have risen eight times faster than the FAO All Rice Index which is up four per cent on the year However the higher import costs come at a time when inventories are robust harvest forecasts are strong and food commodity markets remain well supplied The export of tropical fruits is promising for poverty relief and rural development as almost all production takes place in developing countries The export volumes of mango pineapple avocado and papayas are on course to achieve a total combined value of $10 billion this year according to the Food Outlook Source httptodaythefinancialexpresscombdfirst-pagefao-fears-negative-bd-food-output-growth-on-flooding-1510336161date=11-11-2017

STOCKS NUDGE HIGHER AS BANK TELECOM ISSUES SURGE Stocks extended the winning streak for the two consecutive weeks that ended Thursday as enthusiastic investors continued their buying appetite on bank and telecommunication issues Market operators said the positive momentum in some large-cap issues especially from banking telecom pharmaceuticals and food amp allied sectors helped the bourse to stay upbeat The banking sector posted the highest return of 445 per cent as 27 out of 30 listed banks ticked higher Four banks gained more than 10 per cent each The telecom sector also surged 342 per cent as Grameenphone the countrys largest market-cap listed companys shares price jumped 40 per cent to close at Tk 45690 each The market extended the winning streak riding on heavyweight bank and telecom issues said an analyst at a leading brokerage firm The week featured five trading sessions as usual Of them first session saw marginal correction while last four closed higher Week-on-week DSEX the prime index of the Dhaka Stock Exchange (DSE) jacked up by 9454 points or 155 per cent to finish at 6193 The two other indices -- the DS30 index and the DSE Shariah Index (DSES) - also closed higher at 2244 and 1341 points

Daily News Flash 12th November 2017

28

Both the indices added 4264 points and 1218 points respectively During the week banking pharmaceuticals and telecommunication sector stocks contributed more to keep the market up commented City Bank Capital Resources a merchant bank in its weekly analysis The port city bourse Chittagong Stock Exchange (CSE) also ended higher The CSCX advanced 180 points or 156 per cent to finish at 11618 International Leasing Securities a stockbroker noted that the market observed an upbeat vibe throughout the week riding on the news of soaring of net foreign investment in the capital market in the first 10 months of 2017 compared to the same period of last year Net position of foreign portfolio with the DSE stood at Tk 1623 billion in January-October compared to Tk 80 billion in the same period a year ago However some investors were reshuffling their portfolios after observing the year-end corporate declarations and first quarter earning disclosures the stockbroker added According to EBL Securities The market witnessed an upbeat tune throughout the week riding on regained confidence among the market participants The stockbroker noted that preferable year-end and quarter-end earnings declarations by several companies helped them to remain positive about market The total turnover for the week amounted to Tk 3591 billion on the DSE which was Tk 3027 billion in the week before The daily turnover averaged Tk 718 billion which was nearly 19 per cent higher than the previous weeks average of Tk 605 billion Block trade accounted for 16 per cent of the total weekly turnover where stocks like BATBC Beximco Pharma Shahjalal Islami Bank Square Pharma and Singer Bangladesh dominated the block trade board Banking sector kept its dominance over the turnover chart grabbing 35 per cent of the weeks total transaction followed by engineering with 18 per cent and pharmaceuticals 11 per cent Out of 336 issues traded 207 closed lower 116 ended higher and 13 issues remained unchanged on the DSE trading floor during the week The market capitalisation of the DSE rose 137 per cent as it was Tk 4123 billion on the opening day of the week and it stood at Tk 4179 billion on closing day of the week City Bank topped the weeks turnover chart with 5390 million shares worth Tk 184 billion changing hands followed by IFAD Autos with Tk 121 billion Brac Bank Tk 10 billion LankaBangla Finance Tk 994 million and Dhaka Bank Tk 926 million Reckitt Benckiser was the weeks best performer posting a gain of 1925 per cent while Stylecraft was the weeks worst loser slumping by 3322 per cent A new issue - Oimex Electrode-- made debut last week and soared 1042 per cent from its offer price of Tk 10 in the first trading day on Monday Source httptodaythefinancialexpresscombdstock-corporatestocks-nudge-higher-as-bank-telecom-issues-surge-1510332934date=11-11-2017

BANGLADESH GROWING AS DENIM HUB The growing global demand for fashionable denim wear encouraged both local and foreign entrepreneurs to make fresh investment in Bangladesh participants and organisers of Bangladesh Denim Expo have said Many of the 30 local denim mills are going for expansion while a couple more will come into operation with fresh investment within next two or three years they said Some foreign companies are opening offices or setting up factories in Bangladesh they added The seventh edition of the two-day Bangladesh Denim Expo was held in the city recently with the theme transparency to highlight the need for transparency in the entire denim supply chain

Daily News Flash 12th November 2017

29

A total of 65 exhibitors from 12 countries participated in the show while more than 12 thousand visitors from across the world registered online to attend the two-day expo organisers said Talking to the FE on the sidelines of the expo Md Khalid Mosharof assistant general manager at Dekko Group said the group invested Tk 15 million in setting up a new factory of 44 lines at Ashulia that would go for denim item production in June next The main reason is to tap the growing global demand he said Echoing him Syeed Ahmed Chowdhury general manager operation at Square Denim said the company expanded its denim fabric production capacity to 30 million yards from the existing 15 million yards per month mainly to meet the demand He however opined that the expansion is taking place more in garment segments than in fabric production There is no alternative to expansion to sustain the existing business and achieve the $50 billion garment export earnings target by 2021 Sharif Zahir managing director of Ananta Group said stressing the need for positive branding of the sector Meanwhile Landes a German denim accessories maker started production in its new factory at Savar from this month It invested US $05 million We opened the factory in Bangladesh as we think this is the hub for denim business and there is a lot of business prospects here Manfred Slowik chief operating officer of Landes told the FE at his stall at the expo By the end of next year the total workforce in our new plant will be 120 people as we are recruiting new people from existing 30 Mr Slowik said Landes has a target to produce 500 million pieces of leather patches used in denim trousers as accessories in a year at its Savar plant from where such accessories will be supplied to the whole Asian region Many big brands like HampM VF and Walmart are their customers he said Nezahat Boni senior account manager of Orta a Turkish denim maker said her company supplies 30 million metres of denim fabrics in Bangladesh in a year against only 800 meters in 2011 We opened an office in Bangladesh in 2011 as we cannot ignore the importance of this country as a denim hub she said Prosperity Textile a Chinese company opened its office in Dhaka last year said Md Mujibul Hoque the companys Bangladesh Sales Director The company has targeted sale of 100 million yards a year across the globe while it also targets 30-40 per cent of their sales in Bangladesh Bangladesh is now the top denim products supplier to the European Union overtaking China and third largest to the US after China and Mexico industry people said Bangladesh supplies denim products to major global buyers and retailers including levis G-Star Raw HampM Tesco Wrangler Hugo Boss Walmart and Gap Source httptodaythefinancialexpresscombdtrade-marketbangladesh-growing-as-denim-hub-1510332061date=11-11-2017

EXPORTS UP 70PC IN JULY-OCTOBER Countrys export earnings grew by 703 per cent to US$1150 billion during first four months of the current fiscal year (FY 2017-18) according to official data released Thursday The earnings were $1079 billion in the same period (July-October) last FY In October 2017 the exports grew by 642 per cent to $284 billion the Export Promotion Bureau (EPB) data showed The overall exports in the first four months slightly (074 per cent) fell short of the periods target In October however the exports were 628 per cent higher than the months strategic target Readymade garment shipments fetched $943 billion marking 699 per cent growth during the period as compared to $882 billion in the same period of last FY

Daily News Flash 12th November 2017

30

The woven items registered 385 per cent growth in earnings to $445 billion than that of $428 billion in the same period of FY 2016-17 The earnings from knitwear export during the period grew by 995 per cent to $498 billion from $453 billion in the corresponding period of last FY Jute and jute goods exports rose by 1646 per cent to $34501 million from $29626 million in the same period of FY17 The earnings from agriculture products grew by 2022 per cent during the period while home textiles by 2037 per cent The earnings from leather and leather products however fell marginally by 002 per cent to $42844 million during the period than that of $42851 million in the same period last FY The export earnings from frozen food and live fish grew by 1541 per cent to $22691 million from $19661 million of the corresponding period of last fiscal Mahmud Hasan Khan vice president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) said the exports in the first four months of the current fiscal year fell short of the expected growth mainly because of failure in maintaining the lead time and short supply of gas and electricity Terming the knitwears growth satisfactory he said woven items manufacturers have been struggling to cope with the new challenge as buyers were reducing the volume of orders due to failure in meeting the lead time Without efficient port and strong backward linkage industry especially for the woven sub-sector it will be difficult for the sub-sector to bounce back he feared He pointed out that maximum of the woven fabric requirements were being met through imports But it was taking too much time to clear the imported fabrics and additional charges as a result at the Chittagong seaport that was facing unbearable congestion The government should provide necessary policy support to the exporters to establish strong backward linkage industry for the woven sub-sector he added Source httptodaythefinancialexpresscombdfirst-pageexports-up-70pc-in-july-october-1510248870date=10-11-2017

GAS CRISIS HURTING OUTPUT IN INDUSTRIAL BELT Factories in the countrys Tongi-Gazipur industrial belt have been facing acute gas crisis over the past few months following diversion of gas to upstream power plants The crisis has deteriorated further this week albeit some improvements for a few days last week said local industrialists and businessmen According to them if the ongoing gas crisis persists they may be forced to shut down their factories Officials of the Titas Gas Transmission and Distribution Company Limited (TGTDCL) however blamed the Petrobangla for the gas crunch Sources concerned say the industrial belt of Tongi-Gazipur is suffering badly for about four to five months from low pressure of gas coupled with poor electricity voltage -- often resulting in huge volume of industrial wastages and reduction of production efficiency According to the industry insiders a factory in the industrial belt requires 04 PSI (production per square inch) as optimum gas pressure but the pressure at times comes down to as low as 01 PSI these days -- especially during the daytime Gas pressure in the area becomes normal around 10pm11pm and stays for not more than 08 hours until 6am7am an entrepreneur of the industrial belt informed Asked an official of Titas said they are at present getting nearly 250 million cubic meters (MCM) less in recent weeks against their current demand of 1800 MCM gas in Titas franchise The downstream Titas franchise area covers greater Dhaka region which includes Gazipur alongside some other adjoining districts and greater Mymensingh he said

Daily News Flash 12th November 2017

31

A Petrobangla source however cited gas supply on priority basis to a number of upstream projects including power plants as reason behind supply shortage When asked Managing Director of Akij Group Sk Bashir Uddin termed the situation really worrisome According to him two of Akij Group companies situated in the area -- Akij Printing amp Packages Limited and Dhaka Tobacco Industries -- jointly contributed nearly Tk 35 billion (3500 crore) to the national exchequer in the 2016-17 fiscal year But were very much worried about our industrial output this year as production disruption following the twin crises involving gas supply and power supply Both will eventually disrupt our retail business in every phase he quipped This often results in a high rate of industrial wastage and reduction of production efficiency he added Bangladesh Auto Re-rolling Steel Mills amp Association Chairman Manwar Hossain who is also Anwar Group Managing Director echoed the same concern Factories in the industrial belt are now operating at one-third of their capacity which may lead to labour unrest and default of huge sum of bank loans he said Such disruption of production he cautions may even cause sudden shutdown of factories According to him none of the victims in that case will be the wilful defaulters -- they will be the victims of circumstances The businessman who has a steel factory called Anwar Ispat Limited in the industrial belt called for immediate introduction of ECM (electronically controlled meters) to check unabated gas engineering in the area which he deems to be yet another reason for gas supply crunch Titas officials according to him are encouraging co-generation scheme to help address the severe gas crisis But he said co-generation will require stable and smooth gas supply Government should ensure at least 10-15 years of smooth gas supply to encourage co-generation as what he said any industrial investment requires 20 years of payback period TGTDCL Deputy Managing Director Engineer Abdul Wahab Talukdar who is also the Project Director of Sripur-Joydevpur Transmission Pipeline Project said We cannot do anything to address the crisis if there is a lack of adequate gas supply Mentioning that all factories in the industrial belt are like my babies he unequivocally said Titas is not at fault He also admitted that priority-based power plants gas supply being the reason behind the current spell of gas crunch We have already started introducing electronic volumetric corrector (EVC) to stop illegal gas use in the area he said Factories he added should go for co-generation scheme for protecting their own interest Co-generation means utilising and absorbing heat generated from gas generators which Mr Wahab said will save energy A section of the businessmen however called for stopping fertiliser production and distributing the same among people at a subsidised price after importing it to facilitate smooth supply of gas to other industries Even if the government stops fertiliser production and opts for importing it for distribution at a subsidised rate there will only be an insignificant loss compared to the overall losses now being incurred said an industrialist who has more than one factory in the industrial belt Local sources said illegal and unapproved gas connections in various industries in and around the zone are also affecting gas supply badly among other reasons Source httptodaythefinancialexpresscombdfirst-pagegas-crisis-hurting-output-in-industrial-belt-1510249018date=10-11-2017

Daily News Flash 12th November 2017

32

SINGLE PERSON MAY FORM COMPANY A single person may form a commercial firm under a provision of the companies law being updated along with some other major business-stimulating measures Official sources said the government is considering incorporating some new provisions including one allowing individuals to form any company into the updated Companies Act The other provisions are formation of an appellate tribunal to resolve legal matters without wasting much time widespread automation of companies work and submission of annual company reports online Earlier the Ministry of Commerce (MoC) had received some recommendations from the stakeholders on how to update the law they added We got most of the recommendations from the stakeholders We hope we will be able to prepare the draft Companies Act within a month Md Obaidul Azam director trade organisations (DTO) told the FE He said the recommendations the ministry had received so far were being scrutinised before preparing a draft for updating the companies act Earlier different trade bodies had sent their respective recommendations to the MoC for incorporation into the law The MoC will hold a meeting with the countrys apex trade body after assessing the recommendations and suggestions the ministry official said Talking to the FE a leader of an influential trade body said they had sent some recommendationssuggestions to the MoC for the new Companies Act for betterment of the countrys trade and business According to Section 2 (1) (c) of the Companies Act 1994 Company means a company formed and registered under this Act or an existing company Thus a company is an association of persons formed under the Companies Act 1994 with a view to achieving some common objectives Though a company is regarded a legal person it possesses similar rights and owes similar obligations like a natural person Now any individual fulfilling the new criteria may be allowed to form a firm Source httptodaythefinancialexpresscombdfirst-pagesingle-person-may-form-company-1510249090date=10-11-2017

DSE TURNOVER CROSSES TK 80 BILLION MARK The daily turnover on Dhaka Stock Exchange (DSE) exceeded the Tk 80 billion mark on Thursday as investors took fresh exposure to the banking sector Turnover a crucial indicator of the market reached Tk 870 billion on the countrys premier bourse jumping 14 per cent from the previous days transaction of Tk 765 billion It was the biggest single-day transaction since October 11 when the turnover totalled a record Tk 1092 billion Along with rising turnover DSEX the prime index of the Dhaka bourse continued to keep its gaining momentum closing 3449 points higher at 6193 points DSEX which replaced the DGEN in nearly five years back added more than 121 points or 20 per cent in the past four consecutive sessions The two other indices -- the DS30 index and the DSE Shariah Index (DSES) -- also followed suit to end at 2244 and 1341 points after gaining 1422 points and 443 points respectively Brokers said the market maintained the bullish trend for the four straight sessions as the enthusiastic investors chased the banking sector stocks The market continued the bullish trend for the four consecutive sessions as the enthusiastic investors were active for the banking food and engineering sector stocks commented EBL Securities a stockbroker in its regular market analysis

Daily News Flash 12th November 2017

33

It noted that the core index remained positive throughout the session as optimistic investors kept buying sector-wise stocks while some rebalanced their portfolios Meanwhile share price of newly listed Oimex Electrode continued to decline for the three consecutive sessions after unusual hike during its debut trading on Monday The companys share price fell 763 per cent to close at Tk 9810 on Thursday after jumping more than tenfold during the debut trading which experts termed unusual Block trade contributed Tk 241 million to the days total turnover with stocks like BATBC Square Pharmaceuticals Singer Bangladesh and Beximco Pharma dominating the block trade board Among the major sectors pharmaceuticals posted the highest gain of 122 per cent followed by banking sector (083 per cent) food amp allied (067 per cent) engineering (033 per cent) financial institutions (003 per cent) and power (003 per cent) Only telecommunication sector faced a 045 per cent correction A total number of 0140 million trades were executed in the days trading session with trading volume totalling 23171 million securities The total market capitalisation of the DSE stood at Tk 4179 billion against Tk 4168 billion in the previous session Losers however took a modest lead over the gainers as out of 325 issues traded 140 closed lower 130 closed higher and 55 remained unchanged on the DSE trading floor City Bank dominated the turnover chart for the second day in a row with 1035 million shares changing hands closely followed by Dhaka Bank LankaBangla Finance Brac Bank and Keya Cosmetics Reckitt Benckiser was also the days best performer posting a gain of 624 per cent while Qasem Drycells was the days biggest loser shedding 1235 per cent The port city bourse Chittagong Stock Exchange (CSE) also ended higher with its Selective Categories Index -- CSCX --gaining more than 62 points to close at 11618 Losers beat gainers as 113 issues closed lower 97 closed higher and 37 remained unchanged on the CSE The port city bourse traded 1604 million shares and mutual fund units generating a turnover of Tk 483 million Source httptodaythefinancialexpresscombdstock-corporatedse-turnover-crosses-tk-80-billion-mark-1510245247date=10-11-2017

TEN COS GRAB 32PC TURNOVER ON DSE The banking sector continued to dominate the transaction chart of the Dhaka Stock Exchange (DSE) accounting for 39 per cent of the total turnover on Thursday Four banks made their way to the top 10 turnover chart with City Bank leading the chart for the second day in a row Brokers said the investors chased the banking sector issues as more than 63 per cent of listed banks showed positive earnings in the third quarter (July-September period) Meanwhile top 10 traded companies including four banks grabbed more than 32 per cent of turnover on the Dhaka bourse The total turnover on the premier bourse reached Tk 870 billion up 14 per cent from the previous days Tk 765 billion The most active shares in terms of value included City Bank Dhaka Bank LankaBangla Finance Brac Bank Keya Cosmetics Square Pharmaceuticals Beximco Pharmaceuticals IFAD Autos Exim Bank and IDLC Finance According to statistics available with the DSE about 1035 million shares of City Bank were traded generating a turnover of Tk 553 million or 635 per cent of the total transactions

Daily News Flash 12th November 2017

34

The companys share price hovered between Tk 5240 and Tk 5440 before closing at Tk 5390 advancing 228 per cent over the previous session Dhaka Bank came in next with shares of Tk 395 million changing hands contributing 454 per cent to the total turnover The banks share price closed 347 per cent higher at Tk 2380 LankaBangla notched the third spot with shares of Tk 266 million changing hands making up 305 per cent of the total turnover Its share price ended 063 per cent higher at Tk 6430 Brac Bank emerged the fourth with shares of Tk 257 million changing hands grabbing 295 per cent of the total turnover The banks share price settled 123 per cent higher at Tk 107 Keya Cosmetics featured a turnover of Tk 247 million or 284 per cent of the total turnover Its share price closed 201 per cent higher at Tk 1520 The turnover of Square Pharma was Tk 241 million or 276 per cent of the total transaction Its share price ended 612 per cent down at Tk 27890 Beximco Pharma featured a turnover of Tk 211 million or 242 per cent of the total turnover Its share price advanced 428 per cent to close at Tk 10960 The turnover of IFAD was Tk 208 million accounting for 238 per cent of the total turnover Its share price closed at Tk 14070 gaining 195 per cent Exim Bank featured a turnover of Tk 196 million or 225 per cent of the total transaction The banks share price inched up 055 per cent to close at Tk 1830 IDLC also made its way to the top ten turnover chart with shares of Tk 188 million changing hands Its share price closed 223 per cent higher at Tk 9150 Source httptodaythefinancialexpresscombdstock-corporateten-cos-grab-32pc-turnover-on-dse-1510245290date=10-11-2017

FOREIGN INVESTMENT HIKE INFO DRIVES MODERATE GAINS ON DSE The Dhaka bourse Thursday closed the session posting a moderate rise in the broad index and turnover amid mixed performance displayed by major sectors On the day most of the major sectors declined but the turnover crossed Tk 80 billion-mark after two sessions on Dhaka Stock Exchange (DSE) mainly because of investors increased participation in the banking sector According to a market review of International Leasing Securities positive momentum in some big-cap stocks especially from bank food and engineering sectors helped the bourse to close in green The market started the session with a positive note and the DSE broad index DSEX witnessed little ups and downs before closing higher According to AT Capital Partners the market remained sideways till the midsession The DSEX rose again in the second half of the session and closed at 61936 up by 345 points The shariah based index DSES and blue chip index DS30 also rose marginally The turnover stood at above Tk 870 billion which was 1370 per cent higher than the turnover of the previous session The confident drive was initiated by the investors buying spree riding on the news of doubling net foreign investment in stocks year-on-year in the first ten months of 2017 said the International Leasing SecuritiesAmong the gaining sectors bank advanced 08 per cent and engineering 03 per cent Of the losing sectors pharmaceuticals amp chemicals declined 11 per cent telecommunication 05 per cent and textiles 09 per cent The banking sector grabbed 384 per cent of the market turnover at the premier bourse DSECity Bank topped the turnover chart with a value of Tk 553 million followed by Dhaka Bank LankaBangla Finance BRAC Bank and Keya CosmeticsReckitt Benckiser (Bd) limited topped the gainers chart with a rise of 624 per cent to close at Tk 18456 while Quasem Drycells was the worst loser after declining 1235 per cent to close at Tk 8230 Source httptodaythefinancialexpresscombdstock-corporateforeign-investment-hike-info-drives-moderate-gains-on-dse-1510245365date=10-11-2017

Daily News Flash 12th November 2017

35

MORE JAPANESE COMPANIES SEEK TO INVEST IN BANGLADESH Japanese Ambassador to Bangladesh Hiroyasu Izumi has said the Japanese investors are keen to invest in Bangladesh considering the lucrative offer and ideal atmosphere for foreign investment reports BSS The Japanese investors expressed more interest to invest in Bangladesh at recently-held the third round of Public-Private Economic Dialogue between Bangladesh and Japan he said while visiting the Chittagong Export Processing Zone (CEPZ) on Thursday The envoy expressed the hopes that Japanese investment in the Export Processing Zones (EPZs) will increase after the successful dialogue said a press release More and more Japanese companies will come to invest in this country he added General Manager of CEPZ Khorshid Alam maed a PowerPoint presentation highlighting the overall scenario of EPZ as well as Bangladesh Export Processing Zone Authority (BEPZA) Mentioning Bangladesh EPZs as the Bonanza for Investors he said investors from 38 countries have set up industries in the EPZs and invested US $442 billion He informed the ambassador that BEPZA has ensured three layer security system including 24-hour CCTV surveillance in the key points of EPZ and factory premises for the safety of the investors Source httptodaythefinancialexpresscombdtrade-marketmore-japanese-companies-seek-to-invest-in-bangladesh-1510250285date=10-11-2017

Source httpwwwarthosuchakcomarchives388209

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Source httpwwwarthosuchakcomarchives388257

Daily News Flash 12th November 2017

36

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Daily News Flash 12th November 2017

38

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39

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Source httpwwwprothom-alocomeconomyarticle1362971

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40

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Daily News Flash 12th November 2017

41

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564388

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Daily News Flash 12th November 2017

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Daily News Flash 12th November 2017

43

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Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111810 - - - - -

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২০১৬ mdash ২ ১ ঋ

১০ ও ২০১৩

২৯ ৮০ ২০১৪ ৫ ৭ ৩১ ৫০ ২০১৫

১২ ৩৫ ৩০ ২০১৬ ৭ ৩৭ ৮০

Daily News Flash 12th November 2017

44

২০১৪ ২০১৬

৩২ ৩৫ ও ৫০ ১৯

৫৬

১৭ ৪৬ ২০১৪ ২০১৬

৭২ ১০০ ও ১১১

২০১৪ ২০১৬ ১৫ ৬৩

৯১ ১১৪ ও ১১৮ ৮ ২৩

৮০ ৯০ ও

ও -

ও -

ও ও ও

১০ ও

১০ ও ২২

৭১ ১২ ৪২

৩২ ২৬ ও

ও ও

( ) ও

ও ২০২১ ও ও

৫ ১ ১৬

ও ও

Source httpbonikbartanetbanglanews2017-11-12137992 - - -- -

৫০০ ৫০০ ও

ও ৩০ ২০১৭

৫০০ ও ঋ ২০১৮

৩০

১ ২০ ও ১৫০

১১

Daily News Flash 12th November 2017

45

৩০০ ৬০০

( ) ও

১ ২৫ ও ১০

১০ ও

ঋ ও

৩০ ২০১৭ ৩ ও ১২ ও

( ) ২ ১৪ ২ ১

ও ৩০ ১১

( ) ও ও

( - ) ৬৬ ৫৫ ৩০

( ) ৩৪ ৯০

ও ও ও

( ) ও

ও ও ২০১৫ ৩০ ১০ ২০১৬

১২

( ) ৪১ ২০ ও ২৩ ৬০

৫০ ও

২০১৪ ৩০০ ও ১৪৮ ৪৬ ৫০

১৯১ ৬২ ৩৭ ৩১

১২ ৪৫ ৫০ ২৪

ও ( ) ১৬ ৫৩

ও ১৫ ২২

Source httpbonikbartanetbanglanews2017-11-12137966৫০০- - - - -ও -

৬৩

- ও ও

৬২ ৯৪ ৫

৬২

৯০

২০১৪ - -

- ও

২০১৬-১৭ ৫ ৬২ ও ২০১৩-১৪

১২

( ) ৯০

-

ও - - ও -

Daily News Flash 12th November 2017

46

- ও

৬২ ৯৪

২০১৩-১৪ ৭০ ৭৮ ২০১৪-১৫ ৫৪ ২২

২০১৫-১৬ ৩৯ ৩৩ ও ২৬ ২৩

ও ২০১৩-১৪

১২ ৩৬ ২০১৪-১৫ ৫ ৯১ ও ২০১৫-

১৬ ১৭ ৩০ ৫ ৬২

৩০ ২০১৭ ১০

২ ৮৬ ও ৩

ও ২৪ ( )

২৭

১৯৬৪ ১২

৪ ও ও ১৯৭২

ও ( )

ও ৩৪ ৮ ও

৯০

৪৫ ও ৫

১৯৬৪ ১৯৭২ ১৯৮৯

১০০ ও ২৬ ১৬ ২০ ৫৪৩ ৭৭

৫ - ৫১ ১৫ ৬০ ও

৩২ ৯০

Source httpbonikbartanetbanglanews2017-11-11137853 - - - - - -৬৩---

( ) ও

১০

ও ও ও

-

ও ও

ও ঋ ও

ও ২০১৪ ও

ও ও

২০১৩

( ) ও

Daily News Flash 12th November 2017

47

২০১৪

২০১৪-১৬ ও

২০১৪

ও ২০১৪

২০১৫ ২৭ lsquo ও rsquo

ও ও

২০১৬ ২৪

( )

ও ও

- ও

ও ও ১৯৮৩ ২০১৬

ঋ ( ) ৫৬০

৮৬৪

২০১৬ ২০১৯ ও

ও ১৫ ২৫ ৩০ ও ৩০

ও ঋ ও

২০১৬ ঋ ১

৩৪২ ঋ ৬ ৫২ ১২৩

ঋ ২ ৪৪৩ ঋ ১০

৮৪ ঋ ৪০

৭২৬

ও ২০১৬ ৭৪১

৪৫৭

২০৭ ২৪৪

১০ ও

ও ও ও ও ও

Daily News Flash 12th November 2017

48

Source httpbonikbartanetbanglanews2017-11-12137998 - - - - - ও- -

( )

৩০ ২০১৭ ২০

( ) ২ ১ ১ ৫৯ (

) ৩০ ( ) ১৫ ৩৭

ও ২৮ ১১

( ) ২৮

২০১৬ ৩০ ১৮ ২০

২০১৪ ও ২০

১৫ ৩০

১৮ ৮০ ও ৯ ৬০

Source httpbonikbartanetbanglanews2017-11-11137850 - - - -

ফ ৭ ২০১৭-১৮ ৭ ৩ ৭৪

( ) ও

( - ) ১ ১৫০ ৫৮

(২০১৬-১৭) ১ ৭৫ ৩ ৬০ ৭

৩ ১ ১৫৯ ২০ ৭৪

ও mdash

৬ ৬৫ ১৭ ৬৩

mdash ও ও

১৫ ৪১ ২২ ৬৯ ১০

১৯ ৬৬ ১০ ২০ ২২

mdash ও ও ও

৩৯ ৫১ ও ২ ও

১৬ ৪৬ ও ও ৬ ৯৯ ও

৩ ৮৫ ৯ ৯৫

১৯ ৮২

৮০

ও ( )

mdash

Daily News Flash 12th November 2017

49

ও ও

Source httpbonikbartanetbanglanews2017-11-10137755 - - - -৭- - --

ফ - ফ ও -ও

-ও

-ও

২৯-১০-২০১১ ৩ ( ) ২৮-১০-২০১৪

৩ ( ) ২৮-১১-২০১৬

২৮-১০-২০১৭ ৩ ( )

২০১৬-১৫৮১৩৪ ৪৪ ০৭-০৮-

২০১২ ১২(৬) ২ ( ) ৬ ( )

-ও - ও ২ ( )

৬ ( ) ও ও

-ও ৩ ( )

-

ও ও

১৯৯৪

২ ২২-০৫-২০১২ -ও ৩

- -

১৯৯৪

-ও

- ও

( )

১৯৯৪

১৯৯৪ -ও

Source httpwwwsharenews24comindexphppage=detailsampnc=1ampnews_id=6587

Daily News Flash 12th November 2017

50

ফ ফ

১৫ ও

-( ) ও

৪৯

১৬ ৮৫

৫১ ৪৯

৪ ৩৬

১৯১৩

১০০ ও ১৯০১ ১৯৬০

Source httpswwwdailystockbangladeshcom - - - -

- ( -১)

( ) ৮

৩০০ ও

( ) ১৬

- ২২৮ ৪৯ ১৮৩ ২০১৮

( ) ও

১৫০

( ) ও ৪০ ৩০

ও ও

ও ও

Source httpswwwdailystockbangladeshcom - - -

Page 17: Daily News Flash, 12th November, 2017 -  · PDF filebanglalink's revenue falls 4.57pc in q3 ... banks lack remedial strategy while npl rises worryingly

Daily News Flash 12th November 2017

17

BrsquoDESH BHUTAN START TRADE DATA SHARING IN JAN Bangladesh and Bhutan have decided to start exchanging export-import data from January 1 to verify trade documents to check duty evasion and other customs-related offences through misdeclarations of goods and prices during trades between the two countries The data will be mailed in the first week of the subsequent month according to the decision taken at the 3rd Bangladesh-Bhutan joint group of customs meeting held in November 7-8 in Thimphu the capital of the Himalayan kingdom Initially both sides will exchange export data of three commodities and gradually the scope will be expanded to all the export items Delegations from the both sides also agreed to boost the existing trade volume between the two countries and improve infrastructure at land customs stations of Bangladesh and Bhutan to facilitate border trade Bhutan informed the meeting that they were establishing a mini dry port at Phuentsholing which would boost border trade between the countries National Board of Revenue member (customs audit modernisation and international trade) Khondaker Muhammad Aminur Rahman and Bhutanrsquos Department of Revenue and Customs director Yonten Namgyel led the respective delegations at the meeting Following a request from Bangladesh Bhutan agreed to put necessary information including country of origin name and address business identification number and tax identification number of importer on the export packages as per the current Import Policy Order of Bangladesh Both sides also agreed to hold ground-level customs meetings twice a year alternately at Phuentsholing of Bhutan and Burimari of Bangladesh to resolve customs-related problems smoothly The two countries also decided to raise the issue of improving the infrastructure at Changrabandha (Indian LCS opposite to Burimari of Bangladesh) and Jaigaon (Indian LCS opposite to Bhutanrsquos Phuentsholing) to ensure smooth border trade between the countries Bangladesh also requested the landlocked kingdom to use Nakugaon-Dalu-Gelephu route for their imports and exports as Bangladesh has decided to upgrade Nakugaon LCS as a trade hub for border trade with India and Bhutan Bangladesh side also underscored the potentials of use of riverine routes as mode of transport for export and import of goods Bhutan may also get duty-free market access for limestone powder export to Bangladesh according to the decision of the meeting Mohammad Ehteshamul Hoque NBR first secretary of customs modernisation and international trade on Saturday told New Age that both countries had resolved some small-scale problems to facilitate bilateral trade and committed to further enhancing border trade The planned ground-level meeting of customs officials will also play a role in identifying and resolving bottlenecks in trade between the two nations he said According to the NBR data Bangladesh exported products worth $322 million to Bhutan in the fiscal year 2016-2017 while it imported from the country products worth $3315 million Bangladeshrsquos highest export earnings from the country were $913 million posted in the FY 2011-2012 and the earnings have been declining with fluctuations over the years Bangladeshrsquos major export items to Bhutan are bakery items fruit and vegetable juices tableware kitchenware and toiletry articles of plastics non-alcoholic beverages menrsquos singlets briefs pyjamas medicament mixtures rice aluminium structure and few garment items On the other hand the country imports mainly citrus fruits stone granite dolomite limestone ferro-alloys apple and gypsum from Bhutan Source httpwwwnewagebdnetarticle28202bdesh-bhutan-start-trade-data-sharing-in-jan

Daily News Flash 12th November 2017

18

TAX FAIRS AT ALL ZONES BEGIN TODAY Income tax fair begins today at all income tax zones across the country to provide taxpayers with services in a similar hassle-free atmosphere they got at recently-concluded countrywide weeklong tax fair National Board of Revenue chairman Md Nojibur Rahman on Saturday in a statement said that the decentralised fair at the zones with similar facilities like the weeklong national tax fair would continue till November 30 the last day of income tax returns submission Tax officials will also start issuing income tax ID cards from November 20 to the taxpayers under each tax zone in Dhaka Issuance of ID cards will continue till November 28 There are 31 income tax zones across the country including 15 in Dhaka and four in Chittagong Officials of the revenue board said that the NBR took the decision so that all taxpayers could file their tax returns without any hassle with maximum support from tax officials Initially the NBR planned to issue ID card from November 9 which was deferred due to lack of preparation Source httpwwwnewagebdnetarticle28203tax-fairs-at-all-zones-begin-today

BTRC LIKELY TO LOSE RIGHTS OVER UNUSED BALANCE IN BLOCKED SIMS Mobile phone operators are likely to get relief from paying the government the unused balance in the SIM cards that would be blocked by the telecom regulator for various reasons especially for illegal voice-over internet protocol calls Mobile operators however will have to return the unused balance to its owner if claimed said officials of Bangladesh Telecommunication Regulatory Commission They said that a proposed amendment to the 4G licencing guidelines that would be passed by the telecom regulator in the upcoming commission meeting following instruction from prime ministerrsquos ICT advisor and posts and telecommunication ministry The instruction was made based on a meeting between the mobile phone operators and the government high officials on the proposed 4G licencing guidelines they said As per the BTRC approved draft 4G licencing guidelines that would be revised it was mandatory for all the operators to pay the BTRC the remaining balance amount of the identified illegal prepaid VoIP callers and unsuccessful or fake SIM registration of service connection fund at the time of deactivating them It was also mentioned in the guidelines drafted earlier that there would not be any rights of the mobile network operators over the forfeited account balance of the illegal VoIP callers Whereas it was also mandatory for the operators to pay the remaining balance of such SIM cards within ten days of the following month In case of deactivation of SIM cards for illegal VoIP calls mobile operators would keep the remaining balance while operators would have to pay the balance to its owner if claimed for deactivation of SIM cards for any other reason Such specification about the unused balance would help the operators while the government would lose its rights over the forfeited fund BTRC officials said Such initiative might foil another BTRC move to take stand against the mobile phone operators for non-payment of unused balance in the SIM cards which were blocked by the telecom regulator for various reasons Countryrsquos leading mobile phone operator Grameenphone in February this year deposited Tk 733 crore to the telecom regulator against the unused balance in the connections that were blocked between 2008 and 2014

Daily News Flash 12th November 2017

19

While other operatorsmdash Banglalink Robi Airtel Citycell and Teletalk mdash were yet to pay any fund to the commission in this regard Airtel formerly known as Warid Telecom has already merged with Robi in November 2016 Apart from the unused balance issued the government acknowledged almost all the issues raised by the mobile phone operators about the 4G licencing guidelines BTRC officials said Source httpwwwnewagebdnetarticle28107btrc-likely-to-lose-rights-over-unused-balance-in-blocked-sims

BONDED WAREHOUSE BACK-TO-BACK LC SHOULD BE OPEN TO ALL EXPORTERS Bonded warehouse facility and back-to-back letter of credit facility should be open for all for the export of all sorts of goods to diversify export products said experts and businesses at a workshop on Thursday They came up with the observation while speaking at a stakeholdersrsquo consultation workshop on lsquoExport Diversification Challenges and Prioritiesrsquo organised by Bangladesh Enterprise Institute at IFIC Tower in Dhaka Commonwealth Secretariat adviser and head of international trade and regional cooperation Section Mohammad Razzaque presented a keynote paper on lsquoRevitalising Bangladeshrsquos export trade Policy issues for growth acceleration and diversificationrsquo Razzaque in his presentation said that there should be alternatives of diversifying export destinations and products to achieve $60 billion export target by the year 2021 Although the country has continued to achieve more than 6 per cent growth export to GDP ratio has declined a bit in last couple of years and to increase the ratio for sustaining economic growth there was no alternative to increasing exports he said To facilitate export diversification and ensure equal facility treatment among the exporters all the sectors should get bonded warehouse facility as well as back-to-back letter of credit facility that helped the countryrsquos readymade garment sector to grow Razzaque said Salman F Rahman private sector development advisor to prime minister also said that the bonded warehouse and back-to-back LC facilities should be opened for all to support other exporters Suggesting for the continuation of existing facility for the RMG sector Salman also president of BEI said lsquoWe need product diversification for the economic growth but not at the cost of RMG sectorrsquo Former Dhaka University economics department chairman Wahiduddin Mahmud said that the gov ernment should set a broad category and announce subsidy and cash incentives for longer period to help the sectors to contribute to exports as well as economic growth Speaking about the exchange rate issue the eminent economist also said lsquoAs balance of payment has turned negative the government should not try to control the exchange rate anymorersquo Centre for Policy Dialogue distinguished fellow Mustafizur Rahman said lsquoApart from diversification of other products intra-RMG sector product diversification is also important as we have created a strong foothold in the sector and itrsquos a one trillion dollar marketrsquo Speaking about the repeated change in policy Federation of Bangladesh Chambers of Commerce and Industry president Shafiul Islam Mohiuddin said lsquoElectricity price has been doubled with just a so-called hearing and that led our foreign partners to backtrackrsquo Speaking about the 070 per cent source tax imposed on apparel sector commerce minister Tofail Ahmed said rsquoAlthough we cannot do a lot for the sector but such tax should not remain on the sectorrsquo Source httpwwwnewagebdnetarticle28039bonded-warehouse-back-to-back-lc-should-be-open-to-all-exporters

Daily News Flash 12th November 2017

20

GOVT TO SPEND FUND FOR TOBACCO CONTROL MEASURES CAMPAIGNS The government has finally framed a policy on the use of health development surcharge it imposed on tobacco products three and half years ago The health and family welfare ministry on Wednesday issued the gazette notification of Health Development Surcharge Management Policy-2017 identifying 16 sectors for spending the fund on The fund will mainly be used for limiting the demand for and supply of tobacco products financing tobacco control activities conducting researches and campaigns and operating Tobacco Tax Cell of the National Board of Revenue The revenue board in July 2014 imposed 1 per cent surcharge on all tobacco products both locally produced and imported ones aiming to spend the fund for implementing the programmes to control and discourage the use of tobacco products and prevent tobacco-related diseases In the last three fiscal years (2014-15 2015-16 and 2016-17) the tax authority collected around Tk 900 crore as health development surcharge from tobacco products including cigarette bidi gul zarda and other smoking and chewing tobacco products But the fund remains idle as the health ministry has not got the access to the fund over the years as there was no policy on how to the money be used Officials of the revenue board said that formulation of the policy had paved the way for utilising the fund for tobacco control and prevention of tobacco-related diseases They said that every year around Tk 300 crore would be added to the fund According to the policy the collected surcharge will be used for financing national tobacco control activities operation of the NTCC under the ministry campaigns in the mass media on health hazards of tobacco products and tobacco control and providing trainings to stakeholders The fund will also be used for setting up National Quitline a hotline to help people quit tobacco consumption and providing financial and technical support to organisations for implementation of programmes to prevent tobacco-related non-communicable diseases Programmes will also be taken to create awareness among farmers against tobacco cultivation and motivate them to cultivate alternative crops according to the policy According to the policy a Health Development Surcharge Management Committee headed by the health minister will supervise the proper use of the fund The National Tobacco Control Cell will provide secretarial support to the committee Fund from other sources such as possible imposition of any surcharge on products hazardous to health in future and donations from local and foreign sources will also be added to the fund it said The expenditures from the fund will be audited in line with the methodology followed for the other government agencies it said According to the Global Adult Tobacco Survey-2009 some 413 crore people or 43 per cent of the total population of Bangladesh consume tobacco products On the other hand 430 crore people are victims of indirect smoking According to the World Health Organisationrsquos 2004 data 57000 people die every year in Bangladesh suffering from tobacco-related diseases The government has taken an initiative to make the country smoking free by 2040 Source httpwwwnewagebdnetarticle28040govt-to-spend-fund-for-tobacco-control-measures-campaigns

STUDY BLAMES MOBILE HUNDI FOR FALLING REMITTANCES THRU BANKING CHANNEL A study of Bangladesh Institute of Bank Management on Thursday blamed Hundi through mobile financial services including bKash Rocket mCash and UCash for decreasing remittance through banking channel

Daily News Flash 12th November 2017

21

The study conducted by a six-member team identified distance of bank branches delay in receiving money misconduct by bankers submission of various documents weekly holidays of banks and illegal immigrants as the reasons for increasing remittance inflow through mobile Hundi The six-member team headed by BIBM director Shah Md Ahsan Habib presented the study at the seminar presided over by BIBM director general Toufic Ahmad Choudhury held in the auditorium of the institute in the city lsquoIn Bangladesh remittances declined by an estimated 111 per cent in 2016 in the face of lower oil prices and fiscal tightening in the GCC countries Among other reasons use of Illegal channel by the expatriates is doing harm to our countryrsquo Bangladesh Bank deputy governor Shitangshu Kumar Sur Chowdhury said He said that it would not be possible to stop Hundi totally but BB is working to check the transactions through the illegal channel To ease the formal channel BB has reduced the security deposit requirement for the exchange houses abroad to make arrangements for remittances with local banks Shitangshu said The BB deputy governor hoped that Non-Resident Bangladeshis would come forward to know the importance of their money to be sent through banking channels BB former executive director Yasin Ali said that national economy was being hindered due to remittance inflow through illegal channels He suggested using mobile banking facilities for remittance inflow saying that the area of mobile banking expanded many fold in last five years Helal Ahmed Chowdhury former managing director of Pubali Bank suggested bankers to be courteous with bank customers Source httpwwwnewagebdnetarticle28041study-blames-mobile-hundi-for-falling-remittances-thru-banking-channel

POLICY SUPPORT MUST TO DIVERSIFY EXPORT BASKET Speakers on Thursday said that in order to diversify the countryrsquos export basket export-oriented businesses should be given the policy support that has proved highly successful in bringing vibrancy to the countryrsquos RMG sector They were speaking at a workshop styled ldquoExport Diversification Challenges and Prioritiesrdquo organised by Bangladesh Enterprise Institute (BEI) in the auditorium of International Finance Investment and Commerce Bank in Dhaka Dr Mohammad A Razzaque former head of International Trade Policy at Commonwealth Secretariat in London presented a keynote paper in the programme chaired by Salman F Rahman private sector development advisor to Awami League President and Prime Minister Sheikh Hasina Skill development measures may also play a vital part in this regard Salman said export diversification would be possible only when adequate and appropriate policy support is provided to all export-oriented industries Dr Razzaque in his keynote paper suggested revamping and deepening policy support such as providing cash assistance and bonded warehouse facilities to all such industries to improve their export competitiveness He also highlighted the need for further expanding Bangladeshrsquos export basket as its penetration into global export markets in the last decade was very insignificant Eminent economist Prof Wahiduddin Mahmud said ldquoIn addition to providing subsidies and cash incentives to thriving and promising sectors on a long-term basis the government should take measures to strengthen the countryrsquos manufacturing baserdquo

Daily News Flash 12th November 2017

22

Shafiul Islam Mohiuddin president of the Federation of Bangladesh Chambers of Commerce and Industry said the governmentrsquos support is a must to create a strong manufacturing base for export diversification ldquoSkill development measures may also play a vital part in this regardrdquo Addressing the event as the chief guest Commerce Minister Tofail Ahmed said export diversification depends on businessmenrsquos initiatives He however pledged all necessary support from the government for export diversification to meet the countryrsquos $60 billion export target by 2021 BEI President Farooq Sobhan emphasised engaging the private sector in relevant policy discourses to achieve the target ldquoA private sector-oriented policy mechanism is very important as rapid changes are taking place in the global trade landscape Understanding implications and generating timely policy responses to unfolding developments will be meaningful only when the private sector is able to benefit from themrdquo said Sobhan Among others Mustafizur Rahman a fellow at the Centre for Policy Dialogue Kazi M Aminul Islam executive chairman of Bangladesh Investment Development Authority Bijoy Bhattacharjee vice chairman of Bangladesh Export Promotion Bureau and Md Nojibur Rahman chairman of the National Board of Revenue also spoke Source httpwwwdhakatribunecombusinesseconomy20171109policy-support-must-diversify-export-basket

BANKS LACK REMEDIAL STRATEGY WHILE NPL RISES WORRYINGLY Some of Bangladeshs banks dont have in-depth look into the problem of spiraling non-performing loans (NPL) while many others try to frame remedial strategies perfunctorily Such observations came out from studies on banking as well as financial sector at large as the NPL surge worries many quarters One finding shows that around 11 per cent of the countrys banks did not have an in-depth look into the issue of NPLs in the past year despite a growing concern over the problem in the financial arena The recent industry-wide survey also revealed that around 30 per cent of the countrys banks had not assessed their past NPL-reduction strategies at all while 36 per cent did so only on an ad-hoc basis The findings came out from the survey of the Chief Risk Officers at the banks on issues concerning NPL strategy in their institutions Leading banking research and training institution Bangladesh Institute of Bank Management (BIBM) conducted the study The research findings come at a time when the ballooning NPLs is becoming a major issue with the countrys banking industry and also triggering concerns and criticisms As per the central bank data the volume of NPLs had increased by more than 21 per cent to Tk 62172 billion by the end of 2016 swelling from Tk 51371 billion a year before The findings are genuinely surprising as we are struggling to find a bank for which NPL is not an issue in some capacity said Sazib Azad Senior Advisor of BIBM who led the research initiative Furthermore if the bank itself is immune to the impact of NPL even then they need to consider whether they are immune from structural or market-level impacts as well he told the FE However relevant survey results show the potential lack of such considerations as only 10 per cent of bank CROs taking part in the survey said that their banks are addressing potential dependence on market assessment and strategy What is more surprising is that the NPL strategies of around 62 per cent of the banks are not signed off by the boards the survey found

Daily News Flash 12th November 2017

23

This is quite striking because given the severity of the non-performing-loan issue the NPL strategy should be signed off by the boards Mr Azad said adding Boards are not only accountable for the health of the banks but are also in position to release resources to get to grips with the issue In addition the survey result also revealed 31 per cent of the banks not communicating their NPL strategy across the bank NPL as an issue needs to be addressed from ground up But the results show that this is not happening at our banks said an expert who was involved with research Meanwhile 25 per cent of the CROs said they were not tracking the implementation and effectiveness of NPL strategy in their banks- something which according to experts is a cause of concern Given how critical an issue NPL exposure is we would expect every CRO to track how the NPL strategy is being implemented its effectiveness and how to improve matters to the Board Risk Committee and the Board the banking experts said Meanwhile the survey results also found that although 94 per cent of the banks had stress-tested their balance sheet in terms of NPL drag this figure drops to 56 per cent while considering the impact to and from the wider economy market and structural aspects It seems that 33 per cent of the banks do not formally consider this aspect with a further 11 per cent not looking at this dimension at all the researchers said Experts also noted that with Basel 3 farther putting capital under pressure sensible banks should dynamically model the impact of key risks to their capital However the survey results show 17 per cent of the banks are not doing so while 31 per cent doing it in a limited manner Asked whether their banks risk-appetite-statement metrics reflected their NPL strategy 36 per cent of the respondents said they do so in a limited capacity while a further 80 per cent are not doing that at all It was also found that 25 per cent of the C-Suites have specific NPL-strategy-related targets while 31 per cent of the CROs have the same Meanwhile when asked whether they consider their NPL strategy to be embedded just over half of them or 52 per cent of the survey participants said Yes This according to experts is clearly not fit for purpose given the severity of the NPL issue facing the banking sector The first step in looking into the NPL issue is to assess internal capabilities to effectively manage NPLs Next external conditions or operating environment needs to be considered Finally the capital implications of the NPL strategy need to be analyzed said Sajib Azad The findings of the survey will be shared with the stakeholders during the next CRO forum of BIBM expected to take place next month where the issue of Risk Culture will also figure high The biggest reason for the swelling of NPL in our banking sector is a lack of good governance To check the ballooning of NPL the internal governance of the banks has to be strengthened above all Director-General of BIBM Toufic Ahmad Choudhury said Meanwhile the survey also found banks tending to consider time-horizon portfolio segment and exposure-level-based targets to be broadly equally important to their NPL strategy In terms of options preferred for reducing NPL banks consider change of exposure type to be most effective (36 per cent) followed by active portfolio reductions (33 per cent) and hold forbearance (31 pe rcent) Source httptodaythefinancialexpresscombdfirst-pagebanks-lack-remedial-strategy-while-npl-rises-worryingly-1510417700

GOVT SEEKS US$183B UNDER 39TH JAPANESE ODA PACKAGE The government has sought around US$183 billion worth of assistance from Japan for bankrolling six development projects officials said Saturday

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Officials at the Ministry of Finance (MoF) said they have already discussed the issue with the Japan International Cooperation Agency (JICA) We are hopeful of receiving funds under its upcoming 39th Official Development Assistance (ODA) package to finance six development projects a senior MoF official told the FE He said a JICA mission in September-October last completed its visit to Bangladesh to explore the possibilities of financing the proposed projects We are hopeful of signing the 39th ODA package with JICA within a couple of months he said After signing the loan deal the largest bilateral donor will start disbursement of funds from the proposed $183 billion aid package for the six development projects the MoF official added The proposed six projects under the 39th ODA package are Matarbari port development Dhaka MRT line-6 construction (phase-III) Dhaka MRT line -5 feasibility study Matarbari ultra super critical coal-fired power plant (phase-IV) Jamuna Railway Bridge construction and Health service strengthening project A senior official of Economic Relations Division said the proposed 39th ODA package will be very useful for Bangladesh as it will be utilised to develop the Matarbari port ongoing Matarbari power plant project conduct feasibility study and detailed design of the MRT line-5 in Dhaka and to construct railway bridge over the River Jamuna All of these projects are very important for the country to ensure smooth transportation and uninterrupted power supply he added Japan is the largest bilateral development partner of Bangladesh Over last 5-6 years it has enhanced its aid with confirmation of more than US$10 billion worth of funds under each of the aid packages In the last 38th ODA package signed in June 2017 JICA provided Yen 178223 billion ($164 billion) for utilising in six development projects on transport infrastructure power and water sector improvement works In June 2016 Japan signed the 37th ODA deal worth $150 billion (17354 billion Japanese Yen) with Bangladesh and in December 2015 it inked the 36th ODA package confirming $12 billion concessional loan for six development projects Under the last 38th ODA package JICA offered $700 million (Yen 76825 billion) for Hazrat Shahjalal International Airport Expansion project $480 million (Yen 5273 billion) for 2nd Kanchpur Meghna and Gumti bridges construction $50 million (Yen 5593 billion) for Dhaka Mass Rapid Transit development project (Line 1) $100 million (Yen 10745 billion) for Matarbari ultra super critical coal-fired power plant $190 million (Yen 20477 billion) for Dhaka underground substation construction project and $110 million (Yen 11853 billion) loan for small scale water resources development project Japan has so far provided Bangladesh with nearly US$12 billion in assistance since the financial year (FY) 1971-72 Source httptodaythefinancialexpresscombdfirst-pagegovt-seeks-us183b-under-39th-japanese-oda-package-1510417739

SUMMIT GROUP ENTITIES TO ISSUE PREFERENCE SHARES WORTH $1250M A subscription closing ceremony to raise capital through issuance of preference shares worth BDT 1000 million (USD 1250 million) for Summit Barisal Power Limited amp Summit Narayanganj Power Unit II Limited was held recently at Pan Pacific Sonargaon Dhaka said a statement LankaBangla Finance Limited acted as the Mandated Arranger LankaBangla Investments Limited acted as the Issue Manager and The City Bank Limited acted as the Agent Account Bank amp Custodian Bank to raise the fund In the event Mr Lt Gen (Retd) Engr Abdul Wadud Managing Director of Summit Barisal Power Limited amp Summit Narayanganj Power Unit II Limited Mr Khwaja Shahriar Managing Director amp

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CEO of LankaBangla Finance Limited Mr Mohammed Nasir Uddin Chowdhury Managing Director of LankaBangla Capital Market Operations Mr Mominul Islam Managing Director amp CEO of IPDC Finance Limited Mr R Q M Forkan Managing Director amp CEO of Bangladesh Commerce Bank Limited Mr Faruq M Ahmed Additional Managing Director of Trust Bank Limited Mr Akthar Hamid Khan Deputy Managing Director of Pubali Bank Limited Mr Arif Hasan Khan Vice President of Modhumoti Bank Limited Mr Mohammad Ibrahim Khalil FCA Vice President amp CFO of Bank Asia Limited and Mr Mahbub Jamil Vice President and Head of Structured Finance of The City Bank Limited along with other senior officials from the companies were present Source httptodaythefinancialexpresscombdstock-corporatesummit-group-entities-to-issue-preference-shares-worth-1250m-1510411878

BMBA URGES MUHITH TO EXEMPT INVESTMENTS BY MF SPONSORS Bangladesh Merchant Bankers Association (BMBA) has urged the finance minister to exclude some components including sponsors investments in mutual funds (MFs) from the banks exposure to the capital market It made the request for ensuring an environment conducive to gradual development of the capital market according to a proposal submitted to Finance Minister AMA Muhith last week The BMBA said the long-term or strategic investments needed to be excluded while calculating the exposure as these investments were not intended for frequent trading Non-convertible preference shares and non-listed securities also need to be excluded from the capital market exposure as it will never influence the capital market volatility it said in a letter to the minister According to the letter the MFs are passive investments where investors themselves are not involved in investment decision making and such fund portfolios are mostly of long-term nature than frequent trading On the other hand the sponsors of the MFs need to hold 10 per cent of the investment until liquidation of the fund So considering the fact the sponsors portions in MFs need to be excluded from the banks capital exposure said the BMBA proposal As per the Banking Act 1991 it said reporting requirement is on solo basis but the central bank has introduced consolidated calculation which is of dual effectdouble counting in the market exposure This kind of restrictive measure creates panic situation in the market and may hinder the potentials and prospects of the capital market as a whole the BMBA said It also said that this kind of practice needed to be stopped as such requirements and reporting practice would further squeeze the market and that the investors would lose their interest The BMBA said some organisations have invested on strategic purpose and were holding positions in the board and their exposure increased with rising the market price of MF units On the other hand in compliance with the securities rules they are unable to sell shares to reduce exposure the BMBA said terming the situation complicated In its letter the BMBA said that the capital market exposure of some banks and financial institutions increased without fresh investments following the upward trend of the market price as the exposure is calculated on the basis of market price If the banks need to go for selling off their excess exposure this will create unnecessary selling pressure on the market said the BMBA The association requested the finance minister to consider their proposal to facilitate the growth of the capital market by its own strength and prospect Source httptodaythefinancialexpresscombdstock-corporatebmba-urges-muhith-to-exempt-investments-by-mf-sponsors-1510411950

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ATIUR STRESSES ROLE OF REGULATORS IN DIGITAL FINANCIAL INCLUSION Former Bangladesh Bank Governor Dr Atiur Rahman chairs a session at the 5th Biennial Competition Regulation and Development Conference at Jaipur in India on Thursday Success of digital financial inclusion depends on the prudent role of the regulating bodies to a great extent And the recent progress in Bangladesh in this regard is a good example for the rest of the world to follow said Dr Atiur Rahman former governor of Bangladesh Bank says a statement He was chairing a session at the 5th Biennial Competition Regulation and Development Conference at Jaipur India on Thursday The three-day conference is being hosted by CUTS International and OECD Speakers of the session included Ravinder S Aurora Senior Vice President of Mastercard David Ongolo Kenyan Competition Authority and Dr A K EnamulHaque Professor of East West University Dhaka Many developing countries survived and even thrived during the last global financial crisis because they chose to follow a broad-based financial inclusion strategy And digital solutions played a crucial role in this financial inclusion drive said Dr Rahman He added that service providers must focus on reaching out to the customers in the rural socio-economic conditions Dr Rahman said that experience from Bangladesh can answer many of the burning questions regarding digital financial inclusion The central bank of the country has facilitated bank-led digitisation drive Be it Mobile Financial Service or be it Agent Banking the Bangladesh Bank has encouraged traditional players (ie the commercial banks) to lead the way And it has been proven to be very successful He also said that the world is witnessing only the beginning of the digital finance revolution Hence we must learn from all these experiments share our experiences and know-hows Only then we can work towards shaping global standards and practices Dr Rahman finally asked all central banks to be more proactive and collaborative with other stakeholders including non-traditional financial service providers to facilitate orderly development of digital financial inclusion so that consumers interests are better protected The grievance redressal mechanism developed in Bangladesh Bank with infusion of state of the art technology to gain trust of the customers in financial inclusion was also discussed widely in the session The panelists highly appreciated Bangladeshs regulatory move with public interest in mind using latest technology for replicable digital financial inclusion Source httptodaythefinancialexpresscombdtrade-marketatiur-stresses-role-of-regulators-in-digital-financial-inclusion-1510416319

FAO FEARS NEGATIVE BD FOOD OUTPUT GROWTH ON FLOODING Recent flooding has dampened the outlook for Bangladesh a likely third successive season of little or negative food production growth mainly rice reports UNB quoting FAO Barring major setbacks production recoveries could instead permit Bangladesh and Sri Lanka to slightly lower their 2018 imports to 11 million and 450 000 tonnes respectively according to the latest Food Outlook published by the UN Food and Agriculture Organisation (FAO) Among other rice importers Bangladesh Iraq Nigeria and the Philippines are all similarly predicted to replenish their inventories according to the report a copy of which obtained by the news agency These gains are however likely to be offset by stock reductions in the Republic of Korea Madagascar Sri Lanka and the United Republic of Tanzania all linked to output shortfalls Although the use of rice as animal feed is being sustained by the release of supplies from government granaries in Japan the Republic of Korea and Thailand more affordable feedstuffs are expected to displace rice in most other countries especially in Bangladesh China (Mainland) and Vietnam

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Since the previous Food Outlook report a series of unfavourable climate-related events have affected main paddy crops in the Northern Hemisphere which have now reached the harvesting stage This has been the case in Asia where unlike 2016 the critical Northern Hemisphere summer months were characterised by mixed growing conditions that inhibited planting expansions As a result FAOs latest forecast of world rice production in 2017 points to a broadly stable output level of 5008 million tonnes Production in Asia is now forecast to fall 550 000 tonnes below the 2016 bumper harvest to 4525 million tonnes The UN agriculture agency has said the cost of importing food is rising in 2017 driven by increased international demand for most food stuffs as well as higher freight charges The cost of importing food is forecast to rise six per cent in 2017 to $1413 trillion making it the second highest bill on record while food commodity prices have been generally stable according to the latest Food Outlook that expressed concern about the economic and social impact of this trend on poor countries Although weather disruptions are set to stall production growth this season global rice supplies are still forecast to exceed utilisation enabling a small expansion of world rice inventories Global trade is expected to rise only modestly in 2018 after staging an 8 per cent recovery in 2017 The food import bills are set to increase by double-digit rates for least-developed countries (LDCs) and low-income food-deficit countries Aromatic rice varieties have risen eight times faster than the FAO All Rice Index which is up four per cent on the year However the higher import costs come at a time when inventories are robust harvest forecasts are strong and food commodity markets remain well supplied The export of tropical fruits is promising for poverty relief and rural development as almost all production takes place in developing countries The export volumes of mango pineapple avocado and papayas are on course to achieve a total combined value of $10 billion this year according to the Food Outlook Source httptodaythefinancialexpresscombdfirst-pagefao-fears-negative-bd-food-output-growth-on-flooding-1510336161date=11-11-2017

STOCKS NUDGE HIGHER AS BANK TELECOM ISSUES SURGE Stocks extended the winning streak for the two consecutive weeks that ended Thursday as enthusiastic investors continued their buying appetite on bank and telecommunication issues Market operators said the positive momentum in some large-cap issues especially from banking telecom pharmaceuticals and food amp allied sectors helped the bourse to stay upbeat The banking sector posted the highest return of 445 per cent as 27 out of 30 listed banks ticked higher Four banks gained more than 10 per cent each The telecom sector also surged 342 per cent as Grameenphone the countrys largest market-cap listed companys shares price jumped 40 per cent to close at Tk 45690 each The market extended the winning streak riding on heavyweight bank and telecom issues said an analyst at a leading brokerage firm The week featured five trading sessions as usual Of them first session saw marginal correction while last four closed higher Week-on-week DSEX the prime index of the Dhaka Stock Exchange (DSE) jacked up by 9454 points or 155 per cent to finish at 6193 The two other indices -- the DS30 index and the DSE Shariah Index (DSES) - also closed higher at 2244 and 1341 points

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Both the indices added 4264 points and 1218 points respectively During the week banking pharmaceuticals and telecommunication sector stocks contributed more to keep the market up commented City Bank Capital Resources a merchant bank in its weekly analysis The port city bourse Chittagong Stock Exchange (CSE) also ended higher The CSCX advanced 180 points or 156 per cent to finish at 11618 International Leasing Securities a stockbroker noted that the market observed an upbeat vibe throughout the week riding on the news of soaring of net foreign investment in the capital market in the first 10 months of 2017 compared to the same period of last year Net position of foreign portfolio with the DSE stood at Tk 1623 billion in January-October compared to Tk 80 billion in the same period a year ago However some investors were reshuffling their portfolios after observing the year-end corporate declarations and first quarter earning disclosures the stockbroker added According to EBL Securities The market witnessed an upbeat tune throughout the week riding on regained confidence among the market participants The stockbroker noted that preferable year-end and quarter-end earnings declarations by several companies helped them to remain positive about market The total turnover for the week amounted to Tk 3591 billion on the DSE which was Tk 3027 billion in the week before The daily turnover averaged Tk 718 billion which was nearly 19 per cent higher than the previous weeks average of Tk 605 billion Block trade accounted for 16 per cent of the total weekly turnover where stocks like BATBC Beximco Pharma Shahjalal Islami Bank Square Pharma and Singer Bangladesh dominated the block trade board Banking sector kept its dominance over the turnover chart grabbing 35 per cent of the weeks total transaction followed by engineering with 18 per cent and pharmaceuticals 11 per cent Out of 336 issues traded 207 closed lower 116 ended higher and 13 issues remained unchanged on the DSE trading floor during the week The market capitalisation of the DSE rose 137 per cent as it was Tk 4123 billion on the opening day of the week and it stood at Tk 4179 billion on closing day of the week City Bank topped the weeks turnover chart with 5390 million shares worth Tk 184 billion changing hands followed by IFAD Autos with Tk 121 billion Brac Bank Tk 10 billion LankaBangla Finance Tk 994 million and Dhaka Bank Tk 926 million Reckitt Benckiser was the weeks best performer posting a gain of 1925 per cent while Stylecraft was the weeks worst loser slumping by 3322 per cent A new issue - Oimex Electrode-- made debut last week and soared 1042 per cent from its offer price of Tk 10 in the first trading day on Monday Source httptodaythefinancialexpresscombdstock-corporatestocks-nudge-higher-as-bank-telecom-issues-surge-1510332934date=11-11-2017

BANGLADESH GROWING AS DENIM HUB The growing global demand for fashionable denim wear encouraged both local and foreign entrepreneurs to make fresh investment in Bangladesh participants and organisers of Bangladesh Denim Expo have said Many of the 30 local denim mills are going for expansion while a couple more will come into operation with fresh investment within next two or three years they said Some foreign companies are opening offices or setting up factories in Bangladesh they added The seventh edition of the two-day Bangladesh Denim Expo was held in the city recently with the theme transparency to highlight the need for transparency in the entire denim supply chain

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A total of 65 exhibitors from 12 countries participated in the show while more than 12 thousand visitors from across the world registered online to attend the two-day expo organisers said Talking to the FE on the sidelines of the expo Md Khalid Mosharof assistant general manager at Dekko Group said the group invested Tk 15 million in setting up a new factory of 44 lines at Ashulia that would go for denim item production in June next The main reason is to tap the growing global demand he said Echoing him Syeed Ahmed Chowdhury general manager operation at Square Denim said the company expanded its denim fabric production capacity to 30 million yards from the existing 15 million yards per month mainly to meet the demand He however opined that the expansion is taking place more in garment segments than in fabric production There is no alternative to expansion to sustain the existing business and achieve the $50 billion garment export earnings target by 2021 Sharif Zahir managing director of Ananta Group said stressing the need for positive branding of the sector Meanwhile Landes a German denim accessories maker started production in its new factory at Savar from this month It invested US $05 million We opened the factory in Bangladesh as we think this is the hub for denim business and there is a lot of business prospects here Manfred Slowik chief operating officer of Landes told the FE at his stall at the expo By the end of next year the total workforce in our new plant will be 120 people as we are recruiting new people from existing 30 Mr Slowik said Landes has a target to produce 500 million pieces of leather patches used in denim trousers as accessories in a year at its Savar plant from where such accessories will be supplied to the whole Asian region Many big brands like HampM VF and Walmart are their customers he said Nezahat Boni senior account manager of Orta a Turkish denim maker said her company supplies 30 million metres of denim fabrics in Bangladesh in a year against only 800 meters in 2011 We opened an office in Bangladesh in 2011 as we cannot ignore the importance of this country as a denim hub she said Prosperity Textile a Chinese company opened its office in Dhaka last year said Md Mujibul Hoque the companys Bangladesh Sales Director The company has targeted sale of 100 million yards a year across the globe while it also targets 30-40 per cent of their sales in Bangladesh Bangladesh is now the top denim products supplier to the European Union overtaking China and third largest to the US after China and Mexico industry people said Bangladesh supplies denim products to major global buyers and retailers including levis G-Star Raw HampM Tesco Wrangler Hugo Boss Walmart and Gap Source httptodaythefinancialexpresscombdtrade-marketbangladesh-growing-as-denim-hub-1510332061date=11-11-2017

EXPORTS UP 70PC IN JULY-OCTOBER Countrys export earnings grew by 703 per cent to US$1150 billion during first four months of the current fiscal year (FY 2017-18) according to official data released Thursday The earnings were $1079 billion in the same period (July-October) last FY In October 2017 the exports grew by 642 per cent to $284 billion the Export Promotion Bureau (EPB) data showed The overall exports in the first four months slightly (074 per cent) fell short of the periods target In October however the exports were 628 per cent higher than the months strategic target Readymade garment shipments fetched $943 billion marking 699 per cent growth during the period as compared to $882 billion in the same period of last FY

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The woven items registered 385 per cent growth in earnings to $445 billion than that of $428 billion in the same period of FY 2016-17 The earnings from knitwear export during the period grew by 995 per cent to $498 billion from $453 billion in the corresponding period of last FY Jute and jute goods exports rose by 1646 per cent to $34501 million from $29626 million in the same period of FY17 The earnings from agriculture products grew by 2022 per cent during the period while home textiles by 2037 per cent The earnings from leather and leather products however fell marginally by 002 per cent to $42844 million during the period than that of $42851 million in the same period last FY The export earnings from frozen food and live fish grew by 1541 per cent to $22691 million from $19661 million of the corresponding period of last fiscal Mahmud Hasan Khan vice president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) said the exports in the first four months of the current fiscal year fell short of the expected growth mainly because of failure in maintaining the lead time and short supply of gas and electricity Terming the knitwears growth satisfactory he said woven items manufacturers have been struggling to cope with the new challenge as buyers were reducing the volume of orders due to failure in meeting the lead time Without efficient port and strong backward linkage industry especially for the woven sub-sector it will be difficult for the sub-sector to bounce back he feared He pointed out that maximum of the woven fabric requirements were being met through imports But it was taking too much time to clear the imported fabrics and additional charges as a result at the Chittagong seaport that was facing unbearable congestion The government should provide necessary policy support to the exporters to establish strong backward linkage industry for the woven sub-sector he added Source httptodaythefinancialexpresscombdfirst-pageexports-up-70pc-in-july-october-1510248870date=10-11-2017

GAS CRISIS HURTING OUTPUT IN INDUSTRIAL BELT Factories in the countrys Tongi-Gazipur industrial belt have been facing acute gas crisis over the past few months following diversion of gas to upstream power plants The crisis has deteriorated further this week albeit some improvements for a few days last week said local industrialists and businessmen According to them if the ongoing gas crisis persists they may be forced to shut down their factories Officials of the Titas Gas Transmission and Distribution Company Limited (TGTDCL) however blamed the Petrobangla for the gas crunch Sources concerned say the industrial belt of Tongi-Gazipur is suffering badly for about four to five months from low pressure of gas coupled with poor electricity voltage -- often resulting in huge volume of industrial wastages and reduction of production efficiency According to the industry insiders a factory in the industrial belt requires 04 PSI (production per square inch) as optimum gas pressure but the pressure at times comes down to as low as 01 PSI these days -- especially during the daytime Gas pressure in the area becomes normal around 10pm11pm and stays for not more than 08 hours until 6am7am an entrepreneur of the industrial belt informed Asked an official of Titas said they are at present getting nearly 250 million cubic meters (MCM) less in recent weeks against their current demand of 1800 MCM gas in Titas franchise The downstream Titas franchise area covers greater Dhaka region which includes Gazipur alongside some other adjoining districts and greater Mymensingh he said

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A Petrobangla source however cited gas supply on priority basis to a number of upstream projects including power plants as reason behind supply shortage When asked Managing Director of Akij Group Sk Bashir Uddin termed the situation really worrisome According to him two of Akij Group companies situated in the area -- Akij Printing amp Packages Limited and Dhaka Tobacco Industries -- jointly contributed nearly Tk 35 billion (3500 crore) to the national exchequer in the 2016-17 fiscal year But were very much worried about our industrial output this year as production disruption following the twin crises involving gas supply and power supply Both will eventually disrupt our retail business in every phase he quipped This often results in a high rate of industrial wastage and reduction of production efficiency he added Bangladesh Auto Re-rolling Steel Mills amp Association Chairman Manwar Hossain who is also Anwar Group Managing Director echoed the same concern Factories in the industrial belt are now operating at one-third of their capacity which may lead to labour unrest and default of huge sum of bank loans he said Such disruption of production he cautions may even cause sudden shutdown of factories According to him none of the victims in that case will be the wilful defaulters -- they will be the victims of circumstances The businessman who has a steel factory called Anwar Ispat Limited in the industrial belt called for immediate introduction of ECM (electronically controlled meters) to check unabated gas engineering in the area which he deems to be yet another reason for gas supply crunch Titas officials according to him are encouraging co-generation scheme to help address the severe gas crisis But he said co-generation will require stable and smooth gas supply Government should ensure at least 10-15 years of smooth gas supply to encourage co-generation as what he said any industrial investment requires 20 years of payback period TGTDCL Deputy Managing Director Engineer Abdul Wahab Talukdar who is also the Project Director of Sripur-Joydevpur Transmission Pipeline Project said We cannot do anything to address the crisis if there is a lack of adequate gas supply Mentioning that all factories in the industrial belt are like my babies he unequivocally said Titas is not at fault He also admitted that priority-based power plants gas supply being the reason behind the current spell of gas crunch We have already started introducing electronic volumetric corrector (EVC) to stop illegal gas use in the area he said Factories he added should go for co-generation scheme for protecting their own interest Co-generation means utilising and absorbing heat generated from gas generators which Mr Wahab said will save energy A section of the businessmen however called for stopping fertiliser production and distributing the same among people at a subsidised price after importing it to facilitate smooth supply of gas to other industries Even if the government stops fertiliser production and opts for importing it for distribution at a subsidised rate there will only be an insignificant loss compared to the overall losses now being incurred said an industrialist who has more than one factory in the industrial belt Local sources said illegal and unapproved gas connections in various industries in and around the zone are also affecting gas supply badly among other reasons Source httptodaythefinancialexpresscombdfirst-pagegas-crisis-hurting-output-in-industrial-belt-1510249018date=10-11-2017

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SINGLE PERSON MAY FORM COMPANY A single person may form a commercial firm under a provision of the companies law being updated along with some other major business-stimulating measures Official sources said the government is considering incorporating some new provisions including one allowing individuals to form any company into the updated Companies Act The other provisions are formation of an appellate tribunal to resolve legal matters without wasting much time widespread automation of companies work and submission of annual company reports online Earlier the Ministry of Commerce (MoC) had received some recommendations from the stakeholders on how to update the law they added We got most of the recommendations from the stakeholders We hope we will be able to prepare the draft Companies Act within a month Md Obaidul Azam director trade organisations (DTO) told the FE He said the recommendations the ministry had received so far were being scrutinised before preparing a draft for updating the companies act Earlier different trade bodies had sent their respective recommendations to the MoC for incorporation into the law The MoC will hold a meeting with the countrys apex trade body after assessing the recommendations and suggestions the ministry official said Talking to the FE a leader of an influential trade body said they had sent some recommendationssuggestions to the MoC for the new Companies Act for betterment of the countrys trade and business According to Section 2 (1) (c) of the Companies Act 1994 Company means a company formed and registered under this Act or an existing company Thus a company is an association of persons formed under the Companies Act 1994 with a view to achieving some common objectives Though a company is regarded a legal person it possesses similar rights and owes similar obligations like a natural person Now any individual fulfilling the new criteria may be allowed to form a firm Source httptodaythefinancialexpresscombdfirst-pagesingle-person-may-form-company-1510249090date=10-11-2017

DSE TURNOVER CROSSES TK 80 BILLION MARK The daily turnover on Dhaka Stock Exchange (DSE) exceeded the Tk 80 billion mark on Thursday as investors took fresh exposure to the banking sector Turnover a crucial indicator of the market reached Tk 870 billion on the countrys premier bourse jumping 14 per cent from the previous days transaction of Tk 765 billion It was the biggest single-day transaction since October 11 when the turnover totalled a record Tk 1092 billion Along with rising turnover DSEX the prime index of the Dhaka bourse continued to keep its gaining momentum closing 3449 points higher at 6193 points DSEX which replaced the DGEN in nearly five years back added more than 121 points or 20 per cent in the past four consecutive sessions The two other indices -- the DS30 index and the DSE Shariah Index (DSES) -- also followed suit to end at 2244 and 1341 points after gaining 1422 points and 443 points respectively Brokers said the market maintained the bullish trend for the four straight sessions as the enthusiastic investors chased the banking sector stocks The market continued the bullish trend for the four consecutive sessions as the enthusiastic investors were active for the banking food and engineering sector stocks commented EBL Securities a stockbroker in its regular market analysis

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It noted that the core index remained positive throughout the session as optimistic investors kept buying sector-wise stocks while some rebalanced their portfolios Meanwhile share price of newly listed Oimex Electrode continued to decline for the three consecutive sessions after unusual hike during its debut trading on Monday The companys share price fell 763 per cent to close at Tk 9810 on Thursday after jumping more than tenfold during the debut trading which experts termed unusual Block trade contributed Tk 241 million to the days total turnover with stocks like BATBC Square Pharmaceuticals Singer Bangladesh and Beximco Pharma dominating the block trade board Among the major sectors pharmaceuticals posted the highest gain of 122 per cent followed by banking sector (083 per cent) food amp allied (067 per cent) engineering (033 per cent) financial institutions (003 per cent) and power (003 per cent) Only telecommunication sector faced a 045 per cent correction A total number of 0140 million trades were executed in the days trading session with trading volume totalling 23171 million securities The total market capitalisation of the DSE stood at Tk 4179 billion against Tk 4168 billion in the previous session Losers however took a modest lead over the gainers as out of 325 issues traded 140 closed lower 130 closed higher and 55 remained unchanged on the DSE trading floor City Bank dominated the turnover chart for the second day in a row with 1035 million shares changing hands closely followed by Dhaka Bank LankaBangla Finance Brac Bank and Keya Cosmetics Reckitt Benckiser was also the days best performer posting a gain of 624 per cent while Qasem Drycells was the days biggest loser shedding 1235 per cent The port city bourse Chittagong Stock Exchange (CSE) also ended higher with its Selective Categories Index -- CSCX --gaining more than 62 points to close at 11618 Losers beat gainers as 113 issues closed lower 97 closed higher and 37 remained unchanged on the CSE The port city bourse traded 1604 million shares and mutual fund units generating a turnover of Tk 483 million Source httptodaythefinancialexpresscombdstock-corporatedse-turnover-crosses-tk-80-billion-mark-1510245247date=10-11-2017

TEN COS GRAB 32PC TURNOVER ON DSE The banking sector continued to dominate the transaction chart of the Dhaka Stock Exchange (DSE) accounting for 39 per cent of the total turnover on Thursday Four banks made their way to the top 10 turnover chart with City Bank leading the chart for the second day in a row Brokers said the investors chased the banking sector issues as more than 63 per cent of listed banks showed positive earnings in the third quarter (July-September period) Meanwhile top 10 traded companies including four banks grabbed more than 32 per cent of turnover on the Dhaka bourse The total turnover on the premier bourse reached Tk 870 billion up 14 per cent from the previous days Tk 765 billion The most active shares in terms of value included City Bank Dhaka Bank LankaBangla Finance Brac Bank Keya Cosmetics Square Pharmaceuticals Beximco Pharmaceuticals IFAD Autos Exim Bank and IDLC Finance According to statistics available with the DSE about 1035 million shares of City Bank were traded generating a turnover of Tk 553 million or 635 per cent of the total transactions

Daily News Flash 12th November 2017

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The companys share price hovered between Tk 5240 and Tk 5440 before closing at Tk 5390 advancing 228 per cent over the previous session Dhaka Bank came in next with shares of Tk 395 million changing hands contributing 454 per cent to the total turnover The banks share price closed 347 per cent higher at Tk 2380 LankaBangla notched the third spot with shares of Tk 266 million changing hands making up 305 per cent of the total turnover Its share price ended 063 per cent higher at Tk 6430 Brac Bank emerged the fourth with shares of Tk 257 million changing hands grabbing 295 per cent of the total turnover The banks share price settled 123 per cent higher at Tk 107 Keya Cosmetics featured a turnover of Tk 247 million or 284 per cent of the total turnover Its share price closed 201 per cent higher at Tk 1520 The turnover of Square Pharma was Tk 241 million or 276 per cent of the total transaction Its share price ended 612 per cent down at Tk 27890 Beximco Pharma featured a turnover of Tk 211 million or 242 per cent of the total turnover Its share price advanced 428 per cent to close at Tk 10960 The turnover of IFAD was Tk 208 million accounting for 238 per cent of the total turnover Its share price closed at Tk 14070 gaining 195 per cent Exim Bank featured a turnover of Tk 196 million or 225 per cent of the total transaction The banks share price inched up 055 per cent to close at Tk 1830 IDLC also made its way to the top ten turnover chart with shares of Tk 188 million changing hands Its share price closed 223 per cent higher at Tk 9150 Source httptodaythefinancialexpresscombdstock-corporateten-cos-grab-32pc-turnover-on-dse-1510245290date=10-11-2017

FOREIGN INVESTMENT HIKE INFO DRIVES MODERATE GAINS ON DSE The Dhaka bourse Thursday closed the session posting a moderate rise in the broad index and turnover amid mixed performance displayed by major sectors On the day most of the major sectors declined but the turnover crossed Tk 80 billion-mark after two sessions on Dhaka Stock Exchange (DSE) mainly because of investors increased participation in the banking sector According to a market review of International Leasing Securities positive momentum in some big-cap stocks especially from bank food and engineering sectors helped the bourse to close in green The market started the session with a positive note and the DSE broad index DSEX witnessed little ups and downs before closing higher According to AT Capital Partners the market remained sideways till the midsession The DSEX rose again in the second half of the session and closed at 61936 up by 345 points The shariah based index DSES and blue chip index DS30 also rose marginally The turnover stood at above Tk 870 billion which was 1370 per cent higher than the turnover of the previous session The confident drive was initiated by the investors buying spree riding on the news of doubling net foreign investment in stocks year-on-year in the first ten months of 2017 said the International Leasing SecuritiesAmong the gaining sectors bank advanced 08 per cent and engineering 03 per cent Of the losing sectors pharmaceuticals amp chemicals declined 11 per cent telecommunication 05 per cent and textiles 09 per cent The banking sector grabbed 384 per cent of the market turnover at the premier bourse DSECity Bank topped the turnover chart with a value of Tk 553 million followed by Dhaka Bank LankaBangla Finance BRAC Bank and Keya CosmeticsReckitt Benckiser (Bd) limited topped the gainers chart with a rise of 624 per cent to close at Tk 18456 while Quasem Drycells was the worst loser after declining 1235 per cent to close at Tk 8230 Source httptodaythefinancialexpresscombdstock-corporateforeign-investment-hike-info-drives-moderate-gains-on-dse-1510245365date=10-11-2017

Daily News Flash 12th November 2017

35

MORE JAPANESE COMPANIES SEEK TO INVEST IN BANGLADESH Japanese Ambassador to Bangladesh Hiroyasu Izumi has said the Japanese investors are keen to invest in Bangladesh considering the lucrative offer and ideal atmosphere for foreign investment reports BSS The Japanese investors expressed more interest to invest in Bangladesh at recently-held the third round of Public-Private Economic Dialogue between Bangladesh and Japan he said while visiting the Chittagong Export Processing Zone (CEPZ) on Thursday The envoy expressed the hopes that Japanese investment in the Export Processing Zones (EPZs) will increase after the successful dialogue said a press release More and more Japanese companies will come to invest in this country he added General Manager of CEPZ Khorshid Alam maed a PowerPoint presentation highlighting the overall scenario of EPZ as well as Bangladesh Export Processing Zone Authority (BEPZA) Mentioning Bangladesh EPZs as the Bonanza for Investors he said investors from 38 countries have set up industries in the EPZs and invested US $442 billion He informed the ambassador that BEPZA has ensured three layer security system including 24-hour CCTV surveillance in the key points of EPZ and factory premises for the safety of the investors Source httptodaythefinancialexpresscombdtrade-marketmore-japanese-companies-seek-to-invest-in-bangladesh-1510250285date=10-11-2017

Source httpwwwarthosuchakcomarchives388209

১৬০

১১৫ ৪ ৫ ১০ ২০

৩০ ( )

( )

৩০ ২০১৭ ১৫

৩ ও ১২

২ ১৪ ( ) ৩৪

২৪

Source httpwwwarthosuchakcomarchives388257

Daily News Flash 12th November 2017

36

৫৩ ( ) ১৫ ও ২

১ ১ ৪৩ ২১০ ৫৩ ৪৪

৩২ ৫০

৮ ৫৮

২০

১ ২৪

৯ ২৭ ৫৫৫ ৯ ৩৮

-

Source httpwwwarthosuchakcomarchives388125

৩৫ ( ) ৩৫

২৪৫ ৩

১৭ ১১৯ ২১

ও - ১১

৯ ৬ - ৫ ৪

- ও ২

ও ১

Source httpwwwarthosuchakcomarchives388085

- ফ ৪০ ও - ৪০

৬ ( ) ৫ ৯ ৫ ৪৯২ ১১

৫৬ ৪৫১ ২৯

১২ ( ও)

( )

-

- ১০

( ও) ৮০

৪৯ ৩৭ ৯৮

ও ১৭ ১২ ঋ ও

১০ ও ৩ ১০

৩০ ২০১৬ ৩৫ ৬৩

৫ ( ) ৩ ৪৯

Daily News Flash 12th November 2017

37

Source httpwwwarthosuchakcomarchives387762

lsquo rsquo

( )

lsquo - rsquo

( ) ও

২০০২ ( ২ )

৫৪৬

ও ১৫

ও ১৫ ৭৫ ও

১০-১২ ১

১৫৫ ৬৭

ও ২০১০

ও ও ও -

ঋ ঋ

১৫ ৪ ৩

২ ২ ৪ ১৫ ৬

( )

Source httpwwwarthosuchakcomarchives388276

- ও ও

Daily News Flash 12th November 2017

38

৩৮ ও ৪৩

১০০ ৬১ ৫৮ ২২৫ ১ ০৫

Source httpwwwarthosuchakcomarchives387849

- ও ( -২)

৬ ও

ও ৫ ৩০০

ও ও

৭ ২০০

( ও )

ও ও

ও ও

২ - ও mdashlsquo

rsquo ও

-

৫ ৩০০

- ১০ - ৪২৯ -

৩২৮

- ১০

( )

২০১৪

( ও) ও ( )

( )

২ ও ও

ও ও ও

ও ২০১১- ও

ও ( )

Daily News Flash 12th November 2017

39

(১০ ) ৫ ৭৬৩

৬৩ ও

ও ( )

- ২০১৪ ও

ও ও

Source httpwwwprothom-alocomeconomyarticle1362971

ও ও

ও - ও

২০১৬-১৭ ২০ ও

ও ও lsquo rsquo

ও ১০ ও

৭৭ ২০১৭

১৬ ২৭ ও

২০১৬-২০১৭ ২০ lsquo rsquo

ও-

ও ও ও

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564382

ফ ( ও) ১১

ও ও

ও lsquo১১ ও rsquo

১০ ১৩

( ) ( )

Daily News Flash 12th November 2017

40

- ও

-

( )

( )

lsquo ও

rsquo ও

২৬ ১০

১৬

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564383

১ ৫০

ও ২০৫০

২৩

১৬ ৫৯ ২০১১

২০৩০

( )

ঋ ও ও

৬৮ ৬৭

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564384

ফ lsquo

ও ও

( ) ও

- ও

( ও ) ( )

Daily News Flash 12th November 2017

41

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564388

৪৫ ও

৮৪ ৮৩

৯২০

২৭ ২৪ ৭ ৩

৬ ৮৯

৯ ১ ৭২ ১৪ ৪৮

৪৫

ও ১৭ ৫০

১৯৩ ১০ ২০১৫-১৬ ৪১৩ ১০ ও ও

২০১৪-১৫ ৩৭৫ ৮০ ৩৫ ৭০

২০১৩-১৪ ৫১৫ ও

৮১ ২ ৫১ ৩ ২০

২ ও

৮৪

৮১

- ও

৮৩

৮২ ৯৫

ও ও - ও

ও ও ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17112200 - - - -

ও ৫০

ও ( ) ( )

ও ও

Daily News Flash 12th November 2017

42

ও ও

১০০

৮ ও

৩০০ ( )

ও ১৫০

২০০ ১০০

২০০

২৭ ৭

ও ও

ও ৩০ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111811 - - - -

-

২৭ ১১

১০

( ) ২৮৪

৬ ২৮ ৭ ১৫১

৭৪

ও - ও

ও - ও

ও ৩

৭ ১ ২৩

৯৪৪ ৮৮২ ১০

ও ৪ ৭ ও

৪ ৩৮ ও ১৫ ৪১ ২২ ৭০

২০ ৩৬ ১৩ ও

৪৬ ২২ ২০ ও

১৭ ৩৭১ ও ও

১৭ ও ৪৩ ও

Daily News Flash 12th November 2017

43

৬ ২০ ও ১৬

৩৫ ২০ ২৭

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111810 - - - - -

ও ও

১৩০ ও ১৪০

৫৫ ও ৯৭ ১১৩

৩৭

৩৪

৬১৯৩ ৬২ ১১৬১৭

৩০ ১৯

ও ও

ও - ও

৪৮ ৩১

১২ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111808 - - - - -

৩৫ ও ১০

ও ( ) ও

১০

ও ও -

২ ৩০০

২০১৪ ও

ও ৭ ২০১৪ ও ২০১৫

৫ ৭ ও ১২ ৮ ২৩

২০১৩ ১ ৪২০ ২০১৪ ১০ ৫ ১ ৫৭০

১৩ ৪ ও ১ ৩৫৮ ১০

২০১৬ ও ৩ ৫ ১ ৩১০ ২০১৪

২০১৬ mdash ২ ১ ঋ

১০ ও ২০১৩

২৯ ৮০ ২০১৪ ৫ ৭ ৩১ ৫০ ২০১৫

১২ ৩৫ ৩০ ২০১৬ ৭ ৩৭ ৮০

Daily News Flash 12th November 2017

44

২০১৪ ২০১৬

৩২ ৩৫ ও ৫০ ১৯

৫৬

১৭ ৪৬ ২০১৪ ২০১৬

৭২ ১০০ ও ১১১

২০১৪ ২০১৬ ১৫ ৬৩

৯১ ১১৪ ও ১১৮ ৮ ২৩

৮০ ৯০ ও

ও -

ও -

ও ও ও

১০ ও

১০ ও ২২

৭১ ১২ ৪২

৩২ ২৬ ও

ও ও

( ) ও

ও ২০২১ ও ও

৫ ১ ১৬

ও ও

Source httpbonikbartanetbanglanews2017-11-12137992 - - -- -

৫০০ ৫০০ ও

ও ৩০ ২০১৭

৫০০ ও ঋ ২০১৮

৩০

১ ২০ ও ১৫০

১১

Daily News Flash 12th November 2017

45

৩০০ ৬০০

( ) ও

১ ২৫ ও ১০

১০ ও

ঋ ও

৩০ ২০১৭ ৩ ও ১২ ও

( ) ২ ১৪ ২ ১

ও ৩০ ১১

( ) ও ও

( - ) ৬৬ ৫৫ ৩০

( ) ৩৪ ৯০

ও ও ও

( ) ও

ও ও ২০১৫ ৩০ ১০ ২০১৬

১২

( ) ৪১ ২০ ও ২৩ ৬০

৫০ ও

২০১৪ ৩০০ ও ১৪৮ ৪৬ ৫০

১৯১ ৬২ ৩৭ ৩১

১২ ৪৫ ৫০ ২৪

ও ( ) ১৬ ৫৩

ও ১৫ ২২

Source httpbonikbartanetbanglanews2017-11-12137966৫০০- - - - -ও -

৬৩

- ও ও

৬২ ৯৪ ৫

৬২

৯০

২০১৪ - -

- ও

২০১৬-১৭ ৫ ৬২ ও ২০১৩-১৪

১২

( ) ৯০

-

ও - - ও -

Daily News Flash 12th November 2017

46

- ও

৬২ ৯৪

২০১৩-১৪ ৭০ ৭৮ ২০১৪-১৫ ৫৪ ২২

২০১৫-১৬ ৩৯ ৩৩ ও ২৬ ২৩

ও ২০১৩-১৪

১২ ৩৬ ২০১৪-১৫ ৫ ৯১ ও ২০১৫-

১৬ ১৭ ৩০ ৫ ৬২

৩০ ২০১৭ ১০

২ ৮৬ ও ৩

ও ২৪ ( )

২৭

১৯৬৪ ১২

৪ ও ও ১৯৭২

ও ( )

ও ৩৪ ৮ ও

৯০

৪৫ ও ৫

১৯৬৪ ১৯৭২ ১৯৮৯

১০০ ও ২৬ ১৬ ২০ ৫৪৩ ৭৭

৫ - ৫১ ১৫ ৬০ ও

৩২ ৯০

Source httpbonikbartanetbanglanews2017-11-11137853 - - - - - -৬৩---

( ) ও

১০

ও ও ও

-

ও ও

ও ঋ ও

ও ২০১৪ ও

ও ও

২০১৩

( ) ও

Daily News Flash 12th November 2017

47

২০১৪

২০১৪-১৬ ও

২০১৪

ও ২০১৪

২০১৫ ২৭ lsquo ও rsquo

ও ও

২০১৬ ২৪

( )

ও ও

- ও

ও ও ১৯৮৩ ২০১৬

ঋ ( ) ৫৬০

৮৬৪

২০১৬ ২০১৯ ও

ও ১৫ ২৫ ৩০ ও ৩০

ও ঋ ও

২০১৬ ঋ ১

৩৪২ ঋ ৬ ৫২ ১২৩

ঋ ২ ৪৪৩ ঋ ১০

৮৪ ঋ ৪০

৭২৬

ও ২০১৬ ৭৪১

৪৫৭

২০৭ ২৪৪

১০ ও

ও ও ও ও ও

Daily News Flash 12th November 2017

48

Source httpbonikbartanetbanglanews2017-11-12137998 - - - - - ও- -

( )

৩০ ২০১৭ ২০

( ) ২ ১ ১ ৫৯ (

) ৩০ ( ) ১৫ ৩৭

ও ২৮ ১১

( ) ২৮

২০১৬ ৩০ ১৮ ২০

২০১৪ ও ২০

১৫ ৩০

১৮ ৮০ ও ৯ ৬০

Source httpbonikbartanetbanglanews2017-11-11137850 - - - -

ফ ৭ ২০১৭-১৮ ৭ ৩ ৭৪

( ) ও

( - ) ১ ১৫০ ৫৮

(২০১৬-১৭) ১ ৭৫ ৩ ৬০ ৭

৩ ১ ১৫৯ ২০ ৭৪

ও mdash

৬ ৬৫ ১৭ ৬৩

mdash ও ও

১৫ ৪১ ২২ ৬৯ ১০

১৯ ৬৬ ১০ ২০ ২২

mdash ও ও ও

৩৯ ৫১ ও ২ ও

১৬ ৪৬ ও ও ৬ ৯৯ ও

৩ ৮৫ ৯ ৯৫

১৯ ৮২

৮০

ও ( )

mdash

Daily News Flash 12th November 2017

49

ও ও

Source httpbonikbartanetbanglanews2017-11-10137755 - - - -৭- - --

ফ - ফ ও -ও

-ও

-ও

২৯-১০-২০১১ ৩ ( ) ২৮-১০-২০১৪

৩ ( ) ২৮-১১-২০১৬

২৮-১০-২০১৭ ৩ ( )

২০১৬-১৫৮১৩৪ ৪৪ ০৭-০৮-

২০১২ ১২(৬) ২ ( ) ৬ ( )

-ও - ও ২ ( )

৬ ( ) ও ও

-ও ৩ ( )

-

ও ও

১৯৯৪

২ ২২-০৫-২০১২ -ও ৩

- -

১৯৯৪

-ও

- ও

( )

১৯৯৪

১৯৯৪ -ও

Source httpwwwsharenews24comindexphppage=detailsampnc=1ampnews_id=6587

Daily News Flash 12th November 2017

50

ফ ফ

১৫ ও

-( ) ও

৪৯

১৬ ৮৫

৫১ ৪৯

৪ ৩৬

১৯১৩

১০০ ও ১৯০১ ১৯৬০

Source httpswwwdailystockbangladeshcom - - - -

- ( -১)

( ) ৮

৩০০ ও

( ) ১৬

- ২২৮ ৪৯ ১৮৩ ২০১৮

( ) ও

১৫০

( ) ও ৪০ ৩০

ও ও

ও ও

Source httpswwwdailystockbangladeshcom - - -

Page 18: Daily News Flash, 12th November, 2017 -  · PDF filebanglalink's revenue falls 4.57pc in q3 ... banks lack remedial strategy while npl rises worryingly

Daily News Flash 12th November 2017

18

TAX FAIRS AT ALL ZONES BEGIN TODAY Income tax fair begins today at all income tax zones across the country to provide taxpayers with services in a similar hassle-free atmosphere they got at recently-concluded countrywide weeklong tax fair National Board of Revenue chairman Md Nojibur Rahman on Saturday in a statement said that the decentralised fair at the zones with similar facilities like the weeklong national tax fair would continue till November 30 the last day of income tax returns submission Tax officials will also start issuing income tax ID cards from November 20 to the taxpayers under each tax zone in Dhaka Issuance of ID cards will continue till November 28 There are 31 income tax zones across the country including 15 in Dhaka and four in Chittagong Officials of the revenue board said that the NBR took the decision so that all taxpayers could file their tax returns without any hassle with maximum support from tax officials Initially the NBR planned to issue ID card from November 9 which was deferred due to lack of preparation Source httpwwwnewagebdnetarticle28203tax-fairs-at-all-zones-begin-today

BTRC LIKELY TO LOSE RIGHTS OVER UNUSED BALANCE IN BLOCKED SIMS Mobile phone operators are likely to get relief from paying the government the unused balance in the SIM cards that would be blocked by the telecom regulator for various reasons especially for illegal voice-over internet protocol calls Mobile operators however will have to return the unused balance to its owner if claimed said officials of Bangladesh Telecommunication Regulatory Commission They said that a proposed amendment to the 4G licencing guidelines that would be passed by the telecom regulator in the upcoming commission meeting following instruction from prime ministerrsquos ICT advisor and posts and telecommunication ministry The instruction was made based on a meeting between the mobile phone operators and the government high officials on the proposed 4G licencing guidelines they said As per the BTRC approved draft 4G licencing guidelines that would be revised it was mandatory for all the operators to pay the BTRC the remaining balance amount of the identified illegal prepaid VoIP callers and unsuccessful or fake SIM registration of service connection fund at the time of deactivating them It was also mentioned in the guidelines drafted earlier that there would not be any rights of the mobile network operators over the forfeited account balance of the illegal VoIP callers Whereas it was also mandatory for the operators to pay the remaining balance of such SIM cards within ten days of the following month In case of deactivation of SIM cards for illegal VoIP calls mobile operators would keep the remaining balance while operators would have to pay the balance to its owner if claimed for deactivation of SIM cards for any other reason Such specification about the unused balance would help the operators while the government would lose its rights over the forfeited fund BTRC officials said Such initiative might foil another BTRC move to take stand against the mobile phone operators for non-payment of unused balance in the SIM cards which were blocked by the telecom regulator for various reasons Countryrsquos leading mobile phone operator Grameenphone in February this year deposited Tk 733 crore to the telecom regulator against the unused balance in the connections that were blocked between 2008 and 2014

Daily News Flash 12th November 2017

19

While other operatorsmdash Banglalink Robi Airtel Citycell and Teletalk mdash were yet to pay any fund to the commission in this regard Airtel formerly known as Warid Telecom has already merged with Robi in November 2016 Apart from the unused balance issued the government acknowledged almost all the issues raised by the mobile phone operators about the 4G licencing guidelines BTRC officials said Source httpwwwnewagebdnetarticle28107btrc-likely-to-lose-rights-over-unused-balance-in-blocked-sims

BONDED WAREHOUSE BACK-TO-BACK LC SHOULD BE OPEN TO ALL EXPORTERS Bonded warehouse facility and back-to-back letter of credit facility should be open for all for the export of all sorts of goods to diversify export products said experts and businesses at a workshop on Thursday They came up with the observation while speaking at a stakeholdersrsquo consultation workshop on lsquoExport Diversification Challenges and Prioritiesrsquo organised by Bangladesh Enterprise Institute at IFIC Tower in Dhaka Commonwealth Secretariat adviser and head of international trade and regional cooperation Section Mohammad Razzaque presented a keynote paper on lsquoRevitalising Bangladeshrsquos export trade Policy issues for growth acceleration and diversificationrsquo Razzaque in his presentation said that there should be alternatives of diversifying export destinations and products to achieve $60 billion export target by the year 2021 Although the country has continued to achieve more than 6 per cent growth export to GDP ratio has declined a bit in last couple of years and to increase the ratio for sustaining economic growth there was no alternative to increasing exports he said To facilitate export diversification and ensure equal facility treatment among the exporters all the sectors should get bonded warehouse facility as well as back-to-back letter of credit facility that helped the countryrsquos readymade garment sector to grow Razzaque said Salman F Rahman private sector development advisor to prime minister also said that the bonded warehouse and back-to-back LC facilities should be opened for all to support other exporters Suggesting for the continuation of existing facility for the RMG sector Salman also president of BEI said lsquoWe need product diversification for the economic growth but not at the cost of RMG sectorrsquo Former Dhaka University economics department chairman Wahiduddin Mahmud said that the gov ernment should set a broad category and announce subsidy and cash incentives for longer period to help the sectors to contribute to exports as well as economic growth Speaking about the exchange rate issue the eminent economist also said lsquoAs balance of payment has turned negative the government should not try to control the exchange rate anymorersquo Centre for Policy Dialogue distinguished fellow Mustafizur Rahman said lsquoApart from diversification of other products intra-RMG sector product diversification is also important as we have created a strong foothold in the sector and itrsquos a one trillion dollar marketrsquo Speaking about the repeated change in policy Federation of Bangladesh Chambers of Commerce and Industry president Shafiul Islam Mohiuddin said lsquoElectricity price has been doubled with just a so-called hearing and that led our foreign partners to backtrackrsquo Speaking about the 070 per cent source tax imposed on apparel sector commerce minister Tofail Ahmed said rsquoAlthough we cannot do a lot for the sector but such tax should not remain on the sectorrsquo Source httpwwwnewagebdnetarticle28039bonded-warehouse-back-to-back-lc-should-be-open-to-all-exporters

Daily News Flash 12th November 2017

20

GOVT TO SPEND FUND FOR TOBACCO CONTROL MEASURES CAMPAIGNS The government has finally framed a policy on the use of health development surcharge it imposed on tobacco products three and half years ago The health and family welfare ministry on Wednesday issued the gazette notification of Health Development Surcharge Management Policy-2017 identifying 16 sectors for spending the fund on The fund will mainly be used for limiting the demand for and supply of tobacco products financing tobacco control activities conducting researches and campaigns and operating Tobacco Tax Cell of the National Board of Revenue The revenue board in July 2014 imposed 1 per cent surcharge on all tobacco products both locally produced and imported ones aiming to spend the fund for implementing the programmes to control and discourage the use of tobacco products and prevent tobacco-related diseases In the last three fiscal years (2014-15 2015-16 and 2016-17) the tax authority collected around Tk 900 crore as health development surcharge from tobacco products including cigarette bidi gul zarda and other smoking and chewing tobacco products But the fund remains idle as the health ministry has not got the access to the fund over the years as there was no policy on how to the money be used Officials of the revenue board said that formulation of the policy had paved the way for utilising the fund for tobacco control and prevention of tobacco-related diseases They said that every year around Tk 300 crore would be added to the fund According to the policy the collected surcharge will be used for financing national tobacco control activities operation of the NTCC under the ministry campaigns in the mass media on health hazards of tobacco products and tobacco control and providing trainings to stakeholders The fund will also be used for setting up National Quitline a hotline to help people quit tobacco consumption and providing financial and technical support to organisations for implementation of programmes to prevent tobacco-related non-communicable diseases Programmes will also be taken to create awareness among farmers against tobacco cultivation and motivate them to cultivate alternative crops according to the policy According to the policy a Health Development Surcharge Management Committee headed by the health minister will supervise the proper use of the fund The National Tobacco Control Cell will provide secretarial support to the committee Fund from other sources such as possible imposition of any surcharge on products hazardous to health in future and donations from local and foreign sources will also be added to the fund it said The expenditures from the fund will be audited in line with the methodology followed for the other government agencies it said According to the Global Adult Tobacco Survey-2009 some 413 crore people or 43 per cent of the total population of Bangladesh consume tobacco products On the other hand 430 crore people are victims of indirect smoking According to the World Health Organisationrsquos 2004 data 57000 people die every year in Bangladesh suffering from tobacco-related diseases The government has taken an initiative to make the country smoking free by 2040 Source httpwwwnewagebdnetarticle28040govt-to-spend-fund-for-tobacco-control-measures-campaigns

STUDY BLAMES MOBILE HUNDI FOR FALLING REMITTANCES THRU BANKING CHANNEL A study of Bangladesh Institute of Bank Management on Thursday blamed Hundi through mobile financial services including bKash Rocket mCash and UCash for decreasing remittance through banking channel

Daily News Flash 12th November 2017

21

The study conducted by a six-member team identified distance of bank branches delay in receiving money misconduct by bankers submission of various documents weekly holidays of banks and illegal immigrants as the reasons for increasing remittance inflow through mobile Hundi The six-member team headed by BIBM director Shah Md Ahsan Habib presented the study at the seminar presided over by BIBM director general Toufic Ahmad Choudhury held in the auditorium of the institute in the city lsquoIn Bangladesh remittances declined by an estimated 111 per cent in 2016 in the face of lower oil prices and fiscal tightening in the GCC countries Among other reasons use of Illegal channel by the expatriates is doing harm to our countryrsquo Bangladesh Bank deputy governor Shitangshu Kumar Sur Chowdhury said He said that it would not be possible to stop Hundi totally but BB is working to check the transactions through the illegal channel To ease the formal channel BB has reduced the security deposit requirement for the exchange houses abroad to make arrangements for remittances with local banks Shitangshu said The BB deputy governor hoped that Non-Resident Bangladeshis would come forward to know the importance of their money to be sent through banking channels BB former executive director Yasin Ali said that national economy was being hindered due to remittance inflow through illegal channels He suggested using mobile banking facilities for remittance inflow saying that the area of mobile banking expanded many fold in last five years Helal Ahmed Chowdhury former managing director of Pubali Bank suggested bankers to be courteous with bank customers Source httpwwwnewagebdnetarticle28041study-blames-mobile-hundi-for-falling-remittances-thru-banking-channel

POLICY SUPPORT MUST TO DIVERSIFY EXPORT BASKET Speakers on Thursday said that in order to diversify the countryrsquos export basket export-oriented businesses should be given the policy support that has proved highly successful in bringing vibrancy to the countryrsquos RMG sector They were speaking at a workshop styled ldquoExport Diversification Challenges and Prioritiesrdquo organised by Bangladesh Enterprise Institute (BEI) in the auditorium of International Finance Investment and Commerce Bank in Dhaka Dr Mohammad A Razzaque former head of International Trade Policy at Commonwealth Secretariat in London presented a keynote paper in the programme chaired by Salman F Rahman private sector development advisor to Awami League President and Prime Minister Sheikh Hasina Skill development measures may also play a vital part in this regard Salman said export diversification would be possible only when adequate and appropriate policy support is provided to all export-oriented industries Dr Razzaque in his keynote paper suggested revamping and deepening policy support such as providing cash assistance and bonded warehouse facilities to all such industries to improve their export competitiveness He also highlighted the need for further expanding Bangladeshrsquos export basket as its penetration into global export markets in the last decade was very insignificant Eminent economist Prof Wahiduddin Mahmud said ldquoIn addition to providing subsidies and cash incentives to thriving and promising sectors on a long-term basis the government should take measures to strengthen the countryrsquos manufacturing baserdquo

Daily News Flash 12th November 2017

22

Shafiul Islam Mohiuddin president of the Federation of Bangladesh Chambers of Commerce and Industry said the governmentrsquos support is a must to create a strong manufacturing base for export diversification ldquoSkill development measures may also play a vital part in this regardrdquo Addressing the event as the chief guest Commerce Minister Tofail Ahmed said export diversification depends on businessmenrsquos initiatives He however pledged all necessary support from the government for export diversification to meet the countryrsquos $60 billion export target by 2021 BEI President Farooq Sobhan emphasised engaging the private sector in relevant policy discourses to achieve the target ldquoA private sector-oriented policy mechanism is very important as rapid changes are taking place in the global trade landscape Understanding implications and generating timely policy responses to unfolding developments will be meaningful only when the private sector is able to benefit from themrdquo said Sobhan Among others Mustafizur Rahman a fellow at the Centre for Policy Dialogue Kazi M Aminul Islam executive chairman of Bangladesh Investment Development Authority Bijoy Bhattacharjee vice chairman of Bangladesh Export Promotion Bureau and Md Nojibur Rahman chairman of the National Board of Revenue also spoke Source httpwwwdhakatribunecombusinesseconomy20171109policy-support-must-diversify-export-basket

BANKS LACK REMEDIAL STRATEGY WHILE NPL RISES WORRYINGLY Some of Bangladeshs banks dont have in-depth look into the problem of spiraling non-performing loans (NPL) while many others try to frame remedial strategies perfunctorily Such observations came out from studies on banking as well as financial sector at large as the NPL surge worries many quarters One finding shows that around 11 per cent of the countrys banks did not have an in-depth look into the issue of NPLs in the past year despite a growing concern over the problem in the financial arena The recent industry-wide survey also revealed that around 30 per cent of the countrys banks had not assessed their past NPL-reduction strategies at all while 36 per cent did so only on an ad-hoc basis The findings came out from the survey of the Chief Risk Officers at the banks on issues concerning NPL strategy in their institutions Leading banking research and training institution Bangladesh Institute of Bank Management (BIBM) conducted the study The research findings come at a time when the ballooning NPLs is becoming a major issue with the countrys banking industry and also triggering concerns and criticisms As per the central bank data the volume of NPLs had increased by more than 21 per cent to Tk 62172 billion by the end of 2016 swelling from Tk 51371 billion a year before The findings are genuinely surprising as we are struggling to find a bank for which NPL is not an issue in some capacity said Sazib Azad Senior Advisor of BIBM who led the research initiative Furthermore if the bank itself is immune to the impact of NPL even then they need to consider whether they are immune from structural or market-level impacts as well he told the FE However relevant survey results show the potential lack of such considerations as only 10 per cent of bank CROs taking part in the survey said that their banks are addressing potential dependence on market assessment and strategy What is more surprising is that the NPL strategies of around 62 per cent of the banks are not signed off by the boards the survey found

Daily News Flash 12th November 2017

23

This is quite striking because given the severity of the non-performing-loan issue the NPL strategy should be signed off by the boards Mr Azad said adding Boards are not only accountable for the health of the banks but are also in position to release resources to get to grips with the issue In addition the survey result also revealed 31 per cent of the banks not communicating their NPL strategy across the bank NPL as an issue needs to be addressed from ground up But the results show that this is not happening at our banks said an expert who was involved with research Meanwhile 25 per cent of the CROs said they were not tracking the implementation and effectiveness of NPL strategy in their banks- something which according to experts is a cause of concern Given how critical an issue NPL exposure is we would expect every CRO to track how the NPL strategy is being implemented its effectiveness and how to improve matters to the Board Risk Committee and the Board the banking experts said Meanwhile the survey results also found that although 94 per cent of the banks had stress-tested their balance sheet in terms of NPL drag this figure drops to 56 per cent while considering the impact to and from the wider economy market and structural aspects It seems that 33 per cent of the banks do not formally consider this aspect with a further 11 per cent not looking at this dimension at all the researchers said Experts also noted that with Basel 3 farther putting capital under pressure sensible banks should dynamically model the impact of key risks to their capital However the survey results show 17 per cent of the banks are not doing so while 31 per cent doing it in a limited manner Asked whether their banks risk-appetite-statement metrics reflected their NPL strategy 36 per cent of the respondents said they do so in a limited capacity while a further 80 per cent are not doing that at all It was also found that 25 per cent of the C-Suites have specific NPL-strategy-related targets while 31 per cent of the CROs have the same Meanwhile when asked whether they consider their NPL strategy to be embedded just over half of them or 52 per cent of the survey participants said Yes This according to experts is clearly not fit for purpose given the severity of the NPL issue facing the banking sector The first step in looking into the NPL issue is to assess internal capabilities to effectively manage NPLs Next external conditions or operating environment needs to be considered Finally the capital implications of the NPL strategy need to be analyzed said Sajib Azad The findings of the survey will be shared with the stakeholders during the next CRO forum of BIBM expected to take place next month where the issue of Risk Culture will also figure high The biggest reason for the swelling of NPL in our banking sector is a lack of good governance To check the ballooning of NPL the internal governance of the banks has to be strengthened above all Director-General of BIBM Toufic Ahmad Choudhury said Meanwhile the survey also found banks tending to consider time-horizon portfolio segment and exposure-level-based targets to be broadly equally important to their NPL strategy In terms of options preferred for reducing NPL banks consider change of exposure type to be most effective (36 per cent) followed by active portfolio reductions (33 per cent) and hold forbearance (31 pe rcent) Source httptodaythefinancialexpresscombdfirst-pagebanks-lack-remedial-strategy-while-npl-rises-worryingly-1510417700

GOVT SEEKS US$183B UNDER 39TH JAPANESE ODA PACKAGE The government has sought around US$183 billion worth of assistance from Japan for bankrolling six development projects officials said Saturday

Daily News Flash 12th November 2017

24

Officials at the Ministry of Finance (MoF) said they have already discussed the issue with the Japan International Cooperation Agency (JICA) We are hopeful of receiving funds under its upcoming 39th Official Development Assistance (ODA) package to finance six development projects a senior MoF official told the FE He said a JICA mission in September-October last completed its visit to Bangladesh to explore the possibilities of financing the proposed projects We are hopeful of signing the 39th ODA package with JICA within a couple of months he said After signing the loan deal the largest bilateral donor will start disbursement of funds from the proposed $183 billion aid package for the six development projects the MoF official added The proposed six projects under the 39th ODA package are Matarbari port development Dhaka MRT line-6 construction (phase-III) Dhaka MRT line -5 feasibility study Matarbari ultra super critical coal-fired power plant (phase-IV) Jamuna Railway Bridge construction and Health service strengthening project A senior official of Economic Relations Division said the proposed 39th ODA package will be very useful for Bangladesh as it will be utilised to develop the Matarbari port ongoing Matarbari power plant project conduct feasibility study and detailed design of the MRT line-5 in Dhaka and to construct railway bridge over the River Jamuna All of these projects are very important for the country to ensure smooth transportation and uninterrupted power supply he added Japan is the largest bilateral development partner of Bangladesh Over last 5-6 years it has enhanced its aid with confirmation of more than US$10 billion worth of funds under each of the aid packages In the last 38th ODA package signed in June 2017 JICA provided Yen 178223 billion ($164 billion) for utilising in six development projects on transport infrastructure power and water sector improvement works In June 2016 Japan signed the 37th ODA deal worth $150 billion (17354 billion Japanese Yen) with Bangladesh and in December 2015 it inked the 36th ODA package confirming $12 billion concessional loan for six development projects Under the last 38th ODA package JICA offered $700 million (Yen 76825 billion) for Hazrat Shahjalal International Airport Expansion project $480 million (Yen 5273 billion) for 2nd Kanchpur Meghna and Gumti bridges construction $50 million (Yen 5593 billion) for Dhaka Mass Rapid Transit development project (Line 1) $100 million (Yen 10745 billion) for Matarbari ultra super critical coal-fired power plant $190 million (Yen 20477 billion) for Dhaka underground substation construction project and $110 million (Yen 11853 billion) loan for small scale water resources development project Japan has so far provided Bangladesh with nearly US$12 billion in assistance since the financial year (FY) 1971-72 Source httptodaythefinancialexpresscombdfirst-pagegovt-seeks-us183b-under-39th-japanese-oda-package-1510417739

SUMMIT GROUP ENTITIES TO ISSUE PREFERENCE SHARES WORTH $1250M A subscription closing ceremony to raise capital through issuance of preference shares worth BDT 1000 million (USD 1250 million) for Summit Barisal Power Limited amp Summit Narayanganj Power Unit II Limited was held recently at Pan Pacific Sonargaon Dhaka said a statement LankaBangla Finance Limited acted as the Mandated Arranger LankaBangla Investments Limited acted as the Issue Manager and The City Bank Limited acted as the Agent Account Bank amp Custodian Bank to raise the fund In the event Mr Lt Gen (Retd) Engr Abdul Wadud Managing Director of Summit Barisal Power Limited amp Summit Narayanganj Power Unit II Limited Mr Khwaja Shahriar Managing Director amp

Daily News Flash 12th November 2017

25

CEO of LankaBangla Finance Limited Mr Mohammed Nasir Uddin Chowdhury Managing Director of LankaBangla Capital Market Operations Mr Mominul Islam Managing Director amp CEO of IPDC Finance Limited Mr R Q M Forkan Managing Director amp CEO of Bangladesh Commerce Bank Limited Mr Faruq M Ahmed Additional Managing Director of Trust Bank Limited Mr Akthar Hamid Khan Deputy Managing Director of Pubali Bank Limited Mr Arif Hasan Khan Vice President of Modhumoti Bank Limited Mr Mohammad Ibrahim Khalil FCA Vice President amp CFO of Bank Asia Limited and Mr Mahbub Jamil Vice President and Head of Structured Finance of The City Bank Limited along with other senior officials from the companies were present Source httptodaythefinancialexpresscombdstock-corporatesummit-group-entities-to-issue-preference-shares-worth-1250m-1510411878

BMBA URGES MUHITH TO EXEMPT INVESTMENTS BY MF SPONSORS Bangladesh Merchant Bankers Association (BMBA) has urged the finance minister to exclude some components including sponsors investments in mutual funds (MFs) from the banks exposure to the capital market It made the request for ensuring an environment conducive to gradual development of the capital market according to a proposal submitted to Finance Minister AMA Muhith last week The BMBA said the long-term or strategic investments needed to be excluded while calculating the exposure as these investments were not intended for frequent trading Non-convertible preference shares and non-listed securities also need to be excluded from the capital market exposure as it will never influence the capital market volatility it said in a letter to the minister According to the letter the MFs are passive investments where investors themselves are not involved in investment decision making and such fund portfolios are mostly of long-term nature than frequent trading On the other hand the sponsors of the MFs need to hold 10 per cent of the investment until liquidation of the fund So considering the fact the sponsors portions in MFs need to be excluded from the banks capital exposure said the BMBA proposal As per the Banking Act 1991 it said reporting requirement is on solo basis but the central bank has introduced consolidated calculation which is of dual effectdouble counting in the market exposure This kind of restrictive measure creates panic situation in the market and may hinder the potentials and prospects of the capital market as a whole the BMBA said It also said that this kind of practice needed to be stopped as such requirements and reporting practice would further squeeze the market and that the investors would lose their interest The BMBA said some organisations have invested on strategic purpose and were holding positions in the board and their exposure increased with rising the market price of MF units On the other hand in compliance with the securities rules they are unable to sell shares to reduce exposure the BMBA said terming the situation complicated In its letter the BMBA said that the capital market exposure of some banks and financial institutions increased without fresh investments following the upward trend of the market price as the exposure is calculated on the basis of market price If the banks need to go for selling off their excess exposure this will create unnecessary selling pressure on the market said the BMBA The association requested the finance minister to consider their proposal to facilitate the growth of the capital market by its own strength and prospect Source httptodaythefinancialexpresscombdstock-corporatebmba-urges-muhith-to-exempt-investments-by-mf-sponsors-1510411950

Daily News Flash 12th November 2017

26

ATIUR STRESSES ROLE OF REGULATORS IN DIGITAL FINANCIAL INCLUSION Former Bangladesh Bank Governor Dr Atiur Rahman chairs a session at the 5th Biennial Competition Regulation and Development Conference at Jaipur in India on Thursday Success of digital financial inclusion depends on the prudent role of the regulating bodies to a great extent And the recent progress in Bangladesh in this regard is a good example for the rest of the world to follow said Dr Atiur Rahman former governor of Bangladesh Bank says a statement He was chairing a session at the 5th Biennial Competition Regulation and Development Conference at Jaipur India on Thursday The three-day conference is being hosted by CUTS International and OECD Speakers of the session included Ravinder S Aurora Senior Vice President of Mastercard David Ongolo Kenyan Competition Authority and Dr A K EnamulHaque Professor of East West University Dhaka Many developing countries survived and even thrived during the last global financial crisis because they chose to follow a broad-based financial inclusion strategy And digital solutions played a crucial role in this financial inclusion drive said Dr Rahman He added that service providers must focus on reaching out to the customers in the rural socio-economic conditions Dr Rahman said that experience from Bangladesh can answer many of the burning questions regarding digital financial inclusion The central bank of the country has facilitated bank-led digitisation drive Be it Mobile Financial Service or be it Agent Banking the Bangladesh Bank has encouraged traditional players (ie the commercial banks) to lead the way And it has been proven to be very successful He also said that the world is witnessing only the beginning of the digital finance revolution Hence we must learn from all these experiments share our experiences and know-hows Only then we can work towards shaping global standards and practices Dr Rahman finally asked all central banks to be more proactive and collaborative with other stakeholders including non-traditional financial service providers to facilitate orderly development of digital financial inclusion so that consumers interests are better protected The grievance redressal mechanism developed in Bangladesh Bank with infusion of state of the art technology to gain trust of the customers in financial inclusion was also discussed widely in the session The panelists highly appreciated Bangladeshs regulatory move with public interest in mind using latest technology for replicable digital financial inclusion Source httptodaythefinancialexpresscombdtrade-marketatiur-stresses-role-of-regulators-in-digital-financial-inclusion-1510416319

FAO FEARS NEGATIVE BD FOOD OUTPUT GROWTH ON FLOODING Recent flooding has dampened the outlook for Bangladesh a likely third successive season of little or negative food production growth mainly rice reports UNB quoting FAO Barring major setbacks production recoveries could instead permit Bangladesh and Sri Lanka to slightly lower their 2018 imports to 11 million and 450 000 tonnes respectively according to the latest Food Outlook published by the UN Food and Agriculture Organisation (FAO) Among other rice importers Bangladesh Iraq Nigeria and the Philippines are all similarly predicted to replenish their inventories according to the report a copy of which obtained by the news agency These gains are however likely to be offset by stock reductions in the Republic of Korea Madagascar Sri Lanka and the United Republic of Tanzania all linked to output shortfalls Although the use of rice as animal feed is being sustained by the release of supplies from government granaries in Japan the Republic of Korea and Thailand more affordable feedstuffs are expected to displace rice in most other countries especially in Bangladesh China (Mainland) and Vietnam

Daily News Flash 12th November 2017

27

Since the previous Food Outlook report a series of unfavourable climate-related events have affected main paddy crops in the Northern Hemisphere which have now reached the harvesting stage This has been the case in Asia where unlike 2016 the critical Northern Hemisphere summer months were characterised by mixed growing conditions that inhibited planting expansions As a result FAOs latest forecast of world rice production in 2017 points to a broadly stable output level of 5008 million tonnes Production in Asia is now forecast to fall 550 000 tonnes below the 2016 bumper harvest to 4525 million tonnes The UN agriculture agency has said the cost of importing food is rising in 2017 driven by increased international demand for most food stuffs as well as higher freight charges The cost of importing food is forecast to rise six per cent in 2017 to $1413 trillion making it the second highest bill on record while food commodity prices have been generally stable according to the latest Food Outlook that expressed concern about the economic and social impact of this trend on poor countries Although weather disruptions are set to stall production growth this season global rice supplies are still forecast to exceed utilisation enabling a small expansion of world rice inventories Global trade is expected to rise only modestly in 2018 after staging an 8 per cent recovery in 2017 The food import bills are set to increase by double-digit rates for least-developed countries (LDCs) and low-income food-deficit countries Aromatic rice varieties have risen eight times faster than the FAO All Rice Index which is up four per cent on the year However the higher import costs come at a time when inventories are robust harvest forecasts are strong and food commodity markets remain well supplied The export of tropical fruits is promising for poverty relief and rural development as almost all production takes place in developing countries The export volumes of mango pineapple avocado and papayas are on course to achieve a total combined value of $10 billion this year according to the Food Outlook Source httptodaythefinancialexpresscombdfirst-pagefao-fears-negative-bd-food-output-growth-on-flooding-1510336161date=11-11-2017

STOCKS NUDGE HIGHER AS BANK TELECOM ISSUES SURGE Stocks extended the winning streak for the two consecutive weeks that ended Thursday as enthusiastic investors continued their buying appetite on bank and telecommunication issues Market operators said the positive momentum in some large-cap issues especially from banking telecom pharmaceuticals and food amp allied sectors helped the bourse to stay upbeat The banking sector posted the highest return of 445 per cent as 27 out of 30 listed banks ticked higher Four banks gained more than 10 per cent each The telecom sector also surged 342 per cent as Grameenphone the countrys largest market-cap listed companys shares price jumped 40 per cent to close at Tk 45690 each The market extended the winning streak riding on heavyweight bank and telecom issues said an analyst at a leading brokerage firm The week featured five trading sessions as usual Of them first session saw marginal correction while last four closed higher Week-on-week DSEX the prime index of the Dhaka Stock Exchange (DSE) jacked up by 9454 points or 155 per cent to finish at 6193 The two other indices -- the DS30 index and the DSE Shariah Index (DSES) - also closed higher at 2244 and 1341 points

Daily News Flash 12th November 2017

28

Both the indices added 4264 points and 1218 points respectively During the week banking pharmaceuticals and telecommunication sector stocks contributed more to keep the market up commented City Bank Capital Resources a merchant bank in its weekly analysis The port city bourse Chittagong Stock Exchange (CSE) also ended higher The CSCX advanced 180 points or 156 per cent to finish at 11618 International Leasing Securities a stockbroker noted that the market observed an upbeat vibe throughout the week riding on the news of soaring of net foreign investment in the capital market in the first 10 months of 2017 compared to the same period of last year Net position of foreign portfolio with the DSE stood at Tk 1623 billion in January-October compared to Tk 80 billion in the same period a year ago However some investors were reshuffling their portfolios after observing the year-end corporate declarations and first quarter earning disclosures the stockbroker added According to EBL Securities The market witnessed an upbeat tune throughout the week riding on regained confidence among the market participants The stockbroker noted that preferable year-end and quarter-end earnings declarations by several companies helped them to remain positive about market The total turnover for the week amounted to Tk 3591 billion on the DSE which was Tk 3027 billion in the week before The daily turnover averaged Tk 718 billion which was nearly 19 per cent higher than the previous weeks average of Tk 605 billion Block trade accounted for 16 per cent of the total weekly turnover where stocks like BATBC Beximco Pharma Shahjalal Islami Bank Square Pharma and Singer Bangladesh dominated the block trade board Banking sector kept its dominance over the turnover chart grabbing 35 per cent of the weeks total transaction followed by engineering with 18 per cent and pharmaceuticals 11 per cent Out of 336 issues traded 207 closed lower 116 ended higher and 13 issues remained unchanged on the DSE trading floor during the week The market capitalisation of the DSE rose 137 per cent as it was Tk 4123 billion on the opening day of the week and it stood at Tk 4179 billion on closing day of the week City Bank topped the weeks turnover chart with 5390 million shares worth Tk 184 billion changing hands followed by IFAD Autos with Tk 121 billion Brac Bank Tk 10 billion LankaBangla Finance Tk 994 million and Dhaka Bank Tk 926 million Reckitt Benckiser was the weeks best performer posting a gain of 1925 per cent while Stylecraft was the weeks worst loser slumping by 3322 per cent A new issue - Oimex Electrode-- made debut last week and soared 1042 per cent from its offer price of Tk 10 in the first trading day on Monday Source httptodaythefinancialexpresscombdstock-corporatestocks-nudge-higher-as-bank-telecom-issues-surge-1510332934date=11-11-2017

BANGLADESH GROWING AS DENIM HUB The growing global demand for fashionable denim wear encouraged both local and foreign entrepreneurs to make fresh investment in Bangladesh participants and organisers of Bangladesh Denim Expo have said Many of the 30 local denim mills are going for expansion while a couple more will come into operation with fresh investment within next two or three years they said Some foreign companies are opening offices or setting up factories in Bangladesh they added The seventh edition of the two-day Bangladesh Denim Expo was held in the city recently with the theme transparency to highlight the need for transparency in the entire denim supply chain

Daily News Flash 12th November 2017

29

A total of 65 exhibitors from 12 countries participated in the show while more than 12 thousand visitors from across the world registered online to attend the two-day expo organisers said Talking to the FE on the sidelines of the expo Md Khalid Mosharof assistant general manager at Dekko Group said the group invested Tk 15 million in setting up a new factory of 44 lines at Ashulia that would go for denim item production in June next The main reason is to tap the growing global demand he said Echoing him Syeed Ahmed Chowdhury general manager operation at Square Denim said the company expanded its denim fabric production capacity to 30 million yards from the existing 15 million yards per month mainly to meet the demand He however opined that the expansion is taking place more in garment segments than in fabric production There is no alternative to expansion to sustain the existing business and achieve the $50 billion garment export earnings target by 2021 Sharif Zahir managing director of Ananta Group said stressing the need for positive branding of the sector Meanwhile Landes a German denim accessories maker started production in its new factory at Savar from this month It invested US $05 million We opened the factory in Bangladesh as we think this is the hub for denim business and there is a lot of business prospects here Manfred Slowik chief operating officer of Landes told the FE at his stall at the expo By the end of next year the total workforce in our new plant will be 120 people as we are recruiting new people from existing 30 Mr Slowik said Landes has a target to produce 500 million pieces of leather patches used in denim trousers as accessories in a year at its Savar plant from where such accessories will be supplied to the whole Asian region Many big brands like HampM VF and Walmart are their customers he said Nezahat Boni senior account manager of Orta a Turkish denim maker said her company supplies 30 million metres of denim fabrics in Bangladesh in a year against only 800 meters in 2011 We opened an office in Bangladesh in 2011 as we cannot ignore the importance of this country as a denim hub she said Prosperity Textile a Chinese company opened its office in Dhaka last year said Md Mujibul Hoque the companys Bangladesh Sales Director The company has targeted sale of 100 million yards a year across the globe while it also targets 30-40 per cent of their sales in Bangladesh Bangladesh is now the top denim products supplier to the European Union overtaking China and third largest to the US after China and Mexico industry people said Bangladesh supplies denim products to major global buyers and retailers including levis G-Star Raw HampM Tesco Wrangler Hugo Boss Walmart and Gap Source httptodaythefinancialexpresscombdtrade-marketbangladesh-growing-as-denim-hub-1510332061date=11-11-2017

EXPORTS UP 70PC IN JULY-OCTOBER Countrys export earnings grew by 703 per cent to US$1150 billion during first four months of the current fiscal year (FY 2017-18) according to official data released Thursday The earnings were $1079 billion in the same period (July-October) last FY In October 2017 the exports grew by 642 per cent to $284 billion the Export Promotion Bureau (EPB) data showed The overall exports in the first four months slightly (074 per cent) fell short of the periods target In October however the exports were 628 per cent higher than the months strategic target Readymade garment shipments fetched $943 billion marking 699 per cent growth during the period as compared to $882 billion in the same period of last FY

Daily News Flash 12th November 2017

30

The woven items registered 385 per cent growth in earnings to $445 billion than that of $428 billion in the same period of FY 2016-17 The earnings from knitwear export during the period grew by 995 per cent to $498 billion from $453 billion in the corresponding period of last FY Jute and jute goods exports rose by 1646 per cent to $34501 million from $29626 million in the same period of FY17 The earnings from agriculture products grew by 2022 per cent during the period while home textiles by 2037 per cent The earnings from leather and leather products however fell marginally by 002 per cent to $42844 million during the period than that of $42851 million in the same period last FY The export earnings from frozen food and live fish grew by 1541 per cent to $22691 million from $19661 million of the corresponding period of last fiscal Mahmud Hasan Khan vice president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) said the exports in the first four months of the current fiscal year fell short of the expected growth mainly because of failure in maintaining the lead time and short supply of gas and electricity Terming the knitwears growth satisfactory he said woven items manufacturers have been struggling to cope with the new challenge as buyers were reducing the volume of orders due to failure in meeting the lead time Without efficient port and strong backward linkage industry especially for the woven sub-sector it will be difficult for the sub-sector to bounce back he feared He pointed out that maximum of the woven fabric requirements were being met through imports But it was taking too much time to clear the imported fabrics and additional charges as a result at the Chittagong seaport that was facing unbearable congestion The government should provide necessary policy support to the exporters to establish strong backward linkage industry for the woven sub-sector he added Source httptodaythefinancialexpresscombdfirst-pageexports-up-70pc-in-july-october-1510248870date=10-11-2017

GAS CRISIS HURTING OUTPUT IN INDUSTRIAL BELT Factories in the countrys Tongi-Gazipur industrial belt have been facing acute gas crisis over the past few months following diversion of gas to upstream power plants The crisis has deteriorated further this week albeit some improvements for a few days last week said local industrialists and businessmen According to them if the ongoing gas crisis persists they may be forced to shut down their factories Officials of the Titas Gas Transmission and Distribution Company Limited (TGTDCL) however blamed the Petrobangla for the gas crunch Sources concerned say the industrial belt of Tongi-Gazipur is suffering badly for about four to five months from low pressure of gas coupled with poor electricity voltage -- often resulting in huge volume of industrial wastages and reduction of production efficiency According to the industry insiders a factory in the industrial belt requires 04 PSI (production per square inch) as optimum gas pressure but the pressure at times comes down to as low as 01 PSI these days -- especially during the daytime Gas pressure in the area becomes normal around 10pm11pm and stays for not more than 08 hours until 6am7am an entrepreneur of the industrial belt informed Asked an official of Titas said they are at present getting nearly 250 million cubic meters (MCM) less in recent weeks against their current demand of 1800 MCM gas in Titas franchise The downstream Titas franchise area covers greater Dhaka region which includes Gazipur alongside some other adjoining districts and greater Mymensingh he said

Daily News Flash 12th November 2017

31

A Petrobangla source however cited gas supply on priority basis to a number of upstream projects including power plants as reason behind supply shortage When asked Managing Director of Akij Group Sk Bashir Uddin termed the situation really worrisome According to him two of Akij Group companies situated in the area -- Akij Printing amp Packages Limited and Dhaka Tobacco Industries -- jointly contributed nearly Tk 35 billion (3500 crore) to the national exchequer in the 2016-17 fiscal year But were very much worried about our industrial output this year as production disruption following the twin crises involving gas supply and power supply Both will eventually disrupt our retail business in every phase he quipped This often results in a high rate of industrial wastage and reduction of production efficiency he added Bangladesh Auto Re-rolling Steel Mills amp Association Chairman Manwar Hossain who is also Anwar Group Managing Director echoed the same concern Factories in the industrial belt are now operating at one-third of their capacity which may lead to labour unrest and default of huge sum of bank loans he said Such disruption of production he cautions may even cause sudden shutdown of factories According to him none of the victims in that case will be the wilful defaulters -- they will be the victims of circumstances The businessman who has a steel factory called Anwar Ispat Limited in the industrial belt called for immediate introduction of ECM (electronically controlled meters) to check unabated gas engineering in the area which he deems to be yet another reason for gas supply crunch Titas officials according to him are encouraging co-generation scheme to help address the severe gas crisis But he said co-generation will require stable and smooth gas supply Government should ensure at least 10-15 years of smooth gas supply to encourage co-generation as what he said any industrial investment requires 20 years of payback period TGTDCL Deputy Managing Director Engineer Abdul Wahab Talukdar who is also the Project Director of Sripur-Joydevpur Transmission Pipeline Project said We cannot do anything to address the crisis if there is a lack of adequate gas supply Mentioning that all factories in the industrial belt are like my babies he unequivocally said Titas is not at fault He also admitted that priority-based power plants gas supply being the reason behind the current spell of gas crunch We have already started introducing electronic volumetric corrector (EVC) to stop illegal gas use in the area he said Factories he added should go for co-generation scheme for protecting their own interest Co-generation means utilising and absorbing heat generated from gas generators which Mr Wahab said will save energy A section of the businessmen however called for stopping fertiliser production and distributing the same among people at a subsidised price after importing it to facilitate smooth supply of gas to other industries Even if the government stops fertiliser production and opts for importing it for distribution at a subsidised rate there will only be an insignificant loss compared to the overall losses now being incurred said an industrialist who has more than one factory in the industrial belt Local sources said illegal and unapproved gas connections in various industries in and around the zone are also affecting gas supply badly among other reasons Source httptodaythefinancialexpresscombdfirst-pagegas-crisis-hurting-output-in-industrial-belt-1510249018date=10-11-2017

Daily News Flash 12th November 2017

32

SINGLE PERSON MAY FORM COMPANY A single person may form a commercial firm under a provision of the companies law being updated along with some other major business-stimulating measures Official sources said the government is considering incorporating some new provisions including one allowing individuals to form any company into the updated Companies Act The other provisions are formation of an appellate tribunal to resolve legal matters without wasting much time widespread automation of companies work and submission of annual company reports online Earlier the Ministry of Commerce (MoC) had received some recommendations from the stakeholders on how to update the law they added We got most of the recommendations from the stakeholders We hope we will be able to prepare the draft Companies Act within a month Md Obaidul Azam director trade organisations (DTO) told the FE He said the recommendations the ministry had received so far were being scrutinised before preparing a draft for updating the companies act Earlier different trade bodies had sent their respective recommendations to the MoC for incorporation into the law The MoC will hold a meeting with the countrys apex trade body after assessing the recommendations and suggestions the ministry official said Talking to the FE a leader of an influential trade body said they had sent some recommendationssuggestions to the MoC for the new Companies Act for betterment of the countrys trade and business According to Section 2 (1) (c) of the Companies Act 1994 Company means a company formed and registered under this Act or an existing company Thus a company is an association of persons formed under the Companies Act 1994 with a view to achieving some common objectives Though a company is regarded a legal person it possesses similar rights and owes similar obligations like a natural person Now any individual fulfilling the new criteria may be allowed to form a firm Source httptodaythefinancialexpresscombdfirst-pagesingle-person-may-form-company-1510249090date=10-11-2017

DSE TURNOVER CROSSES TK 80 BILLION MARK The daily turnover on Dhaka Stock Exchange (DSE) exceeded the Tk 80 billion mark on Thursday as investors took fresh exposure to the banking sector Turnover a crucial indicator of the market reached Tk 870 billion on the countrys premier bourse jumping 14 per cent from the previous days transaction of Tk 765 billion It was the biggest single-day transaction since October 11 when the turnover totalled a record Tk 1092 billion Along with rising turnover DSEX the prime index of the Dhaka bourse continued to keep its gaining momentum closing 3449 points higher at 6193 points DSEX which replaced the DGEN in nearly five years back added more than 121 points or 20 per cent in the past four consecutive sessions The two other indices -- the DS30 index and the DSE Shariah Index (DSES) -- also followed suit to end at 2244 and 1341 points after gaining 1422 points and 443 points respectively Brokers said the market maintained the bullish trend for the four straight sessions as the enthusiastic investors chased the banking sector stocks The market continued the bullish trend for the four consecutive sessions as the enthusiastic investors were active for the banking food and engineering sector stocks commented EBL Securities a stockbroker in its regular market analysis

Daily News Flash 12th November 2017

33

It noted that the core index remained positive throughout the session as optimistic investors kept buying sector-wise stocks while some rebalanced their portfolios Meanwhile share price of newly listed Oimex Electrode continued to decline for the three consecutive sessions after unusual hike during its debut trading on Monday The companys share price fell 763 per cent to close at Tk 9810 on Thursday after jumping more than tenfold during the debut trading which experts termed unusual Block trade contributed Tk 241 million to the days total turnover with stocks like BATBC Square Pharmaceuticals Singer Bangladesh and Beximco Pharma dominating the block trade board Among the major sectors pharmaceuticals posted the highest gain of 122 per cent followed by banking sector (083 per cent) food amp allied (067 per cent) engineering (033 per cent) financial institutions (003 per cent) and power (003 per cent) Only telecommunication sector faced a 045 per cent correction A total number of 0140 million trades were executed in the days trading session with trading volume totalling 23171 million securities The total market capitalisation of the DSE stood at Tk 4179 billion against Tk 4168 billion in the previous session Losers however took a modest lead over the gainers as out of 325 issues traded 140 closed lower 130 closed higher and 55 remained unchanged on the DSE trading floor City Bank dominated the turnover chart for the second day in a row with 1035 million shares changing hands closely followed by Dhaka Bank LankaBangla Finance Brac Bank and Keya Cosmetics Reckitt Benckiser was also the days best performer posting a gain of 624 per cent while Qasem Drycells was the days biggest loser shedding 1235 per cent The port city bourse Chittagong Stock Exchange (CSE) also ended higher with its Selective Categories Index -- CSCX --gaining more than 62 points to close at 11618 Losers beat gainers as 113 issues closed lower 97 closed higher and 37 remained unchanged on the CSE The port city bourse traded 1604 million shares and mutual fund units generating a turnover of Tk 483 million Source httptodaythefinancialexpresscombdstock-corporatedse-turnover-crosses-tk-80-billion-mark-1510245247date=10-11-2017

TEN COS GRAB 32PC TURNOVER ON DSE The banking sector continued to dominate the transaction chart of the Dhaka Stock Exchange (DSE) accounting for 39 per cent of the total turnover on Thursday Four banks made their way to the top 10 turnover chart with City Bank leading the chart for the second day in a row Brokers said the investors chased the banking sector issues as more than 63 per cent of listed banks showed positive earnings in the third quarter (July-September period) Meanwhile top 10 traded companies including four banks grabbed more than 32 per cent of turnover on the Dhaka bourse The total turnover on the premier bourse reached Tk 870 billion up 14 per cent from the previous days Tk 765 billion The most active shares in terms of value included City Bank Dhaka Bank LankaBangla Finance Brac Bank Keya Cosmetics Square Pharmaceuticals Beximco Pharmaceuticals IFAD Autos Exim Bank and IDLC Finance According to statistics available with the DSE about 1035 million shares of City Bank were traded generating a turnover of Tk 553 million or 635 per cent of the total transactions

Daily News Flash 12th November 2017

34

The companys share price hovered between Tk 5240 and Tk 5440 before closing at Tk 5390 advancing 228 per cent over the previous session Dhaka Bank came in next with shares of Tk 395 million changing hands contributing 454 per cent to the total turnover The banks share price closed 347 per cent higher at Tk 2380 LankaBangla notched the third spot with shares of Tk 266 million changing hands making up 305 per cent of the total turnover Its share price ended 063 per cent higher at Tk 6430 Brac Bank emerged the fourth with shares of Tk 257 million changing hands grabbing 295 per cent of the total turnover The banks share price settled 123 per cent higher at Tk 107 Keya Cosmetics featured a turnover of Tk 247 million or 284 per cent of the total turnover Its share price closed 201 per cent higher at Tk 1520 The turnover of Square Pharma was Tk 241 million or 276 per cent of the total transaction Its share price ended 612 per cent down at Tk 27890 Beximco Pharma featured a turnover of Tk 211 million or 242 per cent of the total turnover Its share price advanced 428 per cent to close at Tk 10960 The turnover of IFAD was Tk 208 million accounting for 238 per cent of the total turnover Its share price closed at Tk 14070 gaining 195 per cent Exim Bank featured a turnover of Tk 196 million or 225 per cent of the total transaction The banks share price inched up 055 per cent to close at Tk 1830 IDLC also made its way to the top ten turnover chart with shares of Tk 188 million changing hands Its share price closed 223 per cent higher at Tk 9150 Source httptodaythefinancialexpresscombdstock-corporateten-cos-grab-32pc-turnover-on-dse-1510245290date=10-11-2017

FOREIGN INVESTMENT HIKE INFO DRIVES MODERATE GAINS ON DSE The Dhaka bourse Thursday closed the session posting a moderate rise in the broad index and turnover amid mixed performance displayed by major sectors On the day most of the major sectors declined but the turnover crossed Tk 80 billion-mark after two sessions on Dhaka Stock Exchange (DSE) mainly because of investors increased participation in the banking sector According to a market review of International Leasing Securities positive momentum in some big-cap stocks especially from bank food and engineering sectors helped the bourse to close in green The market started the session with a positive note and the DSE broad index DSEX witnessed little ups and downs before closing higher According to AT Capital Partners the market remained sideways till the midsession The DSEX rose again in the second half of the session and closed at 61936 up by 345 points The shariah based index DSES and blue chip index DS30 also rose marginally The turnover stood at above Tk 870 billion which was 1370 per cent higher than the turnover of the previous session The confident drive was initiated by the investors buying spree riding on the news of doubling net foreign investment in stocks year-on-year in the first ten months of 2017 said the International Leasing SecuritiesAmong the gaining sectors bank advanced 08 per cent and engineering 03 per cent Of the losing sectors pharmaceuticals amp chemicals declined 11 per cent telecommunication 05 per cent and textiles 09 per cent The banking sector grabbed 384 per cent of the market turnover at the premier bourse DSECity Bank topped the turnover chart with a value of Tk 553 million followed by Dhaka Bank LankaBangla Finance BRAC Bank and Keya CosmeticsReckitt Benckiser (Bd) limited topped the gainers chart with a rise of 624 per cent to close at Tk 18456 while Quasem Drycells was the worst loser after declining 1235 per cent to close at Tk 8230 Source httptodaythefinancialexpresscombdstock-corporateforeign-investment-hike-info-drives-moderate-gains-on-dse-1510245365date=10-11-2017

Daily News Flash 12th November 2017

35

MORE JAPANESE COMPANIES SEEK TO INVEST IN BANGLADESH Japanese Ambassador to Bangladesh Hiroyasu Izumi has said the Japanese investors are keen to invest in Bangladesh considering the lucrative offer and ideal atmosphere for foreign investment reports BSS The Japanese investors expressed more interest to invest in Bangladesh at recently-held the third round of Public-Private Economic Dialogue between Bangladesh and Japan he said while visiting the Chittagong Export Processing Zone (CEPZ) on Thursday The envoy expressed the hopes that Japanese investment in the Export Processing Zones (EPZs) will increase after the successful dialogue said a press release More and more Japanese companies will come to invest in this country he added General Manager of CEPZ Khorshid Alam maed a PowerPoint presentation highlighting the overall scenario of EPZ as well as Bangladesh Export Processing Zone Authority (BEPZA) Mentioning Bangladesh EPZs as the Bonanza for Investors he said investors from 38 countries have set up industries in the EPZs and invested US $442 billion He informed the ambassador that BEPZA has ensured three layer security system including 24-hour CCTV surveillance in the key points of EPZ and factory premises for the safety of the investors Source httptodaythefinancialexpresscombdtrade-marketmore-japanese-companies-seek-to-invest-in-bangladesh-1510250285date=10-11-2017

Source httpwwwarthosuchakcomarchives388209

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Source httpwwwarthosuchakcomarchives388257

Daily News Flash 12th November 2017

36

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Source httpwwwarthosuchakcomarchives388125

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Source httpwwwarthosuchakcomarchives388085

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Daily News Flash 12th November 2017

37

Source httpwwwarthosuchakcomarchives387762

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Source httpwwwarthosuchakcomarchives388276

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Daily News Flash 12th November 2017

38

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Source httpwwwarthosuchakcomarchives387849

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Daily News Flash 12th November 2017

39

(১০ ) ৫ ৭৬৩

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Source httpwwwprothom-alocomeconomyarticle1362971

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Source httpwwwkalerkanthocomprint-editionindustry-business20171112564382

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Daily News Flash 12th November 2017

40

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Source httpwwwkalerkanthocomprint-editionindustry-business20171112564383

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Source httpwwwkalerkanthocomprint-editionindustry-business20171112564384

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Daily News Flash 12th November 2017

41

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564388

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Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17112200 - - - -

ও ৫০

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Daily News Flash 12th November 2017

42

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Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111811 - - - -

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Daily News Flash 12th November 2017

43

৬ ২০ ও ১৬

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Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111810 - - - - -

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Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111808 - - - - -

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Daily News Flash 12th November 2017

44

২০১৪ ২০১৬

৩২ ৩৫ ও ৫০ ১৯

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Source httpbonikbartanetbanglanews2017-11-12137992 - - -- -

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Daily News Flash 12th November 2017

45

৩০০ ৬০০

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Source httpbonikbartanetbanglanews2017-11-12137966৫০০- - - - -ও -

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Daily News Flash 12th November 2017

46

- ও

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Source httpbonikbartanetbanglanews2017-11-11137853 - - - - - -৬৩---

( ) ও

১০

ও ও ও

-

ও ও

ও ঋ ও

ও ২০১৪ ও

ও ও

২০১৩

( ) ও

Daily News Flash 12th November 2017

47

২০১৪

২০১৪-১৬ ও

২০১৪

ও ২০১৪

২০১৫ ২৭ lsquo ও rsquo

ও ও

২০১৬ ২৪

( )

ও ও

- ও

ও ও ১৯৮৩ ২০১৬

ঋ ( ) ৫৬০

৮৬৪

২০১৬ ২০১৯ ও

ও ১৫ ২৫ ৩০ ও ৩০

ও ঋ ও

২০১৬ ঋ ১

৩৪২ ঋ ৬ ৫২ ১২৩

ঋ ২ ৪৪৩ ঋ ১০

৮৪ ঋ ৪০

৭২৬

ও ২০১৬ ৭৪১

৪৫৭

২০৭ ২৪৪

১০ ও

ও ও ও ও ও

Daily News Flash 12th November 2017

48

Source httpbonikbartanetbanglanews2017-11-12137998 - - - - - ও- -

( )

৩০ ২০১৭ ২০

( ) ২ ১ ১ ৫৯ (

) ৩০ ( ) ১৫ ৩৭

ও ২৮ ১১

( ) ২৮

২০১৬ ৩০ ১৮ ২০

২০১৪ ও ২০

১৫ ৩০

১৮ ৮০ ও ৯ ৬০

Source httpbonikbartanetbanglanews2017-11-11137850 - - - -

ফ ৭ ২০১৭-১৮ ৭ ৩ ৭৪

( ) ও

( - ) ১ ১৫০ ৫৮

(২০১৬-১৭) ১ ৭৫ ৩ ৬০ ৭

৩ ১ ১৫৯ ২০ ৭৪

ও mdash

৬ ৬৫ ১৭ ৬৩

mdash ও ও

১৫ ৪১ ২২ ৬৯ ১০

১৯ ৬৬ ১০ ২০ ২২

mdash ও ও ও

৩৯ ৫১ ও ২ ও

১৬ ৪৬ ও ও ৬ ৯৯ ও

৩ ৮৫ ৯ ৯৫

১৯ ৮২

৮০

ও ( )

mdash

Daily News Flash 12th November 2017

49

ও ও

Source httpbonikbartanetbanglanews2017-11-10137755 - - - -৭- - --

ফ - ফ ও -ও

-ও

-ও

২৯-১০-২০১১ ৩ ( ) ২৮-১০-২০১৪

৩ ( ) ২৮-১১-২০১৬

২৮-১০-২০১৭ ৩ ( )

২০১৬-১৫৮১৩৪ ৪৪ ০৭-০৮-

২০১২ ১২(৬) ২ ( ) ৬ ( )

-ও - ও ২ ( )

৬ ( ) ও ও

-ও ৩ ( )

-

ও ও

১৯৯৪

২ ২২-০৫-২০১২ -ও ৩

- -

১৯৯৪

-ও

- ও

( )

১৯৯৪

১৯৯৪ -ও

Source httpwwwsharenews24comindexphppage=detailsampnc=1ampnews_id=6587

Daily News Flash 12th November 2017

50

ফ ফ

১৫ ও

-( ) ও

৪৯

১৬ ৮৫

৫১ ৪৯

৪ ৩৬

১৯১৩

১০০ ও ১৯০১ ১৯৬০

Source httpswwwdailystockbangladeshcom - - - -

- ( -১)

( ) ৮

৩০০ ও

( ) ১৬

- ২২৮ ৪৯ ১৮৩ ২০১৮

( ) ও

১৫০

( ) ও ৪০ ৩০

ও ও

ও ও

Source httpswwwdailystockbangladeshcom - - -

Page 19: Daily News Flash, 12th November, 2017 -  · PDF filebanglalink's revenue falls 4.57pc in q3 ... banks lack remedial strategy while npl rises worryingly

Daily News Flash 12th November 2017

19

While other operatorsmdash Banglalink Robi Airtel Citycell and Teletalk mdash were yet to pay any fund to the commission in this regard Airtel formerly known as Warid Telecom has already merged with Robi in November 2016 Apart from the unused balance issued the government acknowledged almost all the issues raised by the mobile phone operators about the 4G licencing guidelines BTRC officials said Source httpwwwnewagebdnetarticle28107btrc-likely-to-lose-rights-over-unused-balance-in-blocked-sims

BONDED WAREHOUSE BACK-TO-BACK LC SHOULD BE OPEN TO ALL EXPORTERS Bonded warehouse facility and back-to-back letter of credit facility should be open for all for the export of all sorts of goods to diversify export products said experts and businesses at a workshop on Thursday They came up with the observation while speaking at a stakeholdersrsquo consultation workshop on lsquoExport Diversification Challenges and Prioritiesrsquo organised by Bangladesh Enterprise Institute at IFIC Tower in Dhaka Commonwealth Secretariat adviser and head of international trade and regional cooperation Section Mohammad Razzaque presented a keynote paper on lsquoRevitalising Bangladeshrsquos export trade Policy issues for growth acceleration and diversificationrsquo Razzaque in his presentation said that there should be alternatives of diversifying export destinations and products to achieve $60 billion export target by the year 2021 Although the country has continued to achieve more than 6 per cent growth export to GDP ratio has declined a bit in last couple of years and to increase the ratio for sustaining economic growth there was no alternative to increasing exports he said To facilitate export diversification and ensure equal facility treatment among the exporters all the sectors should get bonded warehouse facility as well as back-to-back letter of credit facility that helped the countryrsquos readymade garment sector to grow Razzaque said Salman F Rahman private sector development advisor to prime minister also said that the bonded warehouse and back-to-back LC facilities should be opened for all to support other exporters Suggesting for the continuation of existing facility for the RMG sector Salman also president of BEI said lsquoWe need product diversification for the economic growth but not at the cost of RMG sectorrsquo Former Dhaka University economics department chairman Wahiduddin Mahmud said that the gov ernment should set a broad category and announce subsidy and cash incentives for longer period to help the sectors to contribute to exports as well as economic growth Speaking about the exchange rate issue the eminent economist also said lsquoAs balance of payment has turned negative the government should not try to control the exchange rate anymorersquo Centre for Policy Dialogue distinguished fellow Mustafizur Rahman said lsquoApart from diversification of other products intra-RMG sector product diversification is also important as we have created a strong foothold in the sector and itrsquos a one trillion dollar marketrsquo Speaking about the repeated change in policy Federation of Bangladesh Chambers of Commerce and Industry president Shafiul Islam Mohiuddin said lsquoElectricity price has been doubled with just a so-called hearing and that led our foreign partners to backtrackrsquo Speaking about the 070 per cent source tax imposed on apparel sector commerce minister Tofail Ahmed said rsquoAlthough we cannot do a lot for the sector but such tax should not remain on the sectorrsquo Source httpwwwnewagebdnetarticle28039bonded-warehouse-back-to-back-lc-should-be-open-to-all-exporters

Daily News Flash 12th November 2017

20

GOVT TO SPEND FUND FOR TOBACCO CONTROL MEASURES CAMPAIGNS The government has finally framed a policy on the use of health development surcharge it imposed on tobacco products three and half years ago The health and family welfare ministry on Wednesday issued the gazette notification of Health Development Surcharge Management Policy-2017 identifying 16 sectors for spending the fund on The fund will mainly be used for limiting the demand for and supply of tobacco products financing tobacco control activities conducting researches and campaigns and operating Tobacco Tax Cell of the National Board of Revenue The revenue board in July 2014 imposed 1 per cent surcharge on all tobacco products both locally produced and imported ones aiming to spend the fund for implementing the programmes to control and discourage the use of tobacco products and prevent tobacco-related diseases In the last three fiscal years (2014-15 2015-16 and 2016-17) the tax authority collected around Tk 900 crore as health development surcharge from tobacco products including cigarette bidi gul zarda and other smoking and chewing tobacco products But the fund remains idle as the health ministry has not got the access to the fund over the years as there was no policy on how to the money be used Officials of the revenue board said that formulation of the policy had paved the way for utilising the fund for tobacco control and prevention of tobacco-related diseases They said that every year around Tk 300 crore would be added to the fund According to the policy the collected surcharge will be used for financing national tobacco control activities operation of the NTCC under the ministry campaigns in the mass media on health hazards of tobacco products and tobacco control and providing trainings to stakeholders The fund will also be used for setting up National Quitline a hotline to help people quit tobacco consumption and providing financial and technical support to organisations for implementation of programmes to prevent tobacco-related non-communicable diseases Programmes will also be taken to create awareness among farmers against tobacco cultivation and motivate them to cultivate alternative crops according to the policy According to the policy a Health Development Surcharge Management Committee headed by the health minister will supervise the proper use of the fund The National Tobacco Control Cell will provide secretarial support to the committee Fund from other sources such as possible imposition of any surcharge on products hazardous to health in future and donations from local and foreign sources will also be added to the fund it said The expenditures from the fund will be audited in line with the methodology followed for the other government agencies it said According to the Global Adult Tobacco Survey-2009 some 413 crore people or 43 per cent of the total population of Bangladesh consume tobacco products On the other hand 430 crore people are victims of indirect smoking According to the World Health Organisationrsquos 2004 data 57000 people die every year in Bangladesh suffering from tobacco-related diseases The government has taken an initiative to make the country smoking free by 2040 Source httpwwwnewagebdnetarticle28040govt-to-spend-fund-for-tobacco-control-measures-campaigns

STUDY BLAMES MOBILE HUNDI FOR FALLING REMITTANCES THRU BANKING CHANNEL A study of Bangladesh Institute of Bank Management on Thursday blamed Hundi through mobile financial services including bKash Rocket mCash and UCash for decreasing remittance through banking channel

Daily News Flash 12th November 2017

21

The study conducted by a six-member team identified distance of bank branches delay in receiving money misconduct by bankers submission of various documents weekly holidays of banks and illegal immigrants as the reasons for increasing remittance inflow through mobile Hundi The six-member team headed by BIBM director Shah Md Ahsan Habib presented the study at the seminar presided over by BIBM director general Toufic Ahmad Choudhury held in the auditorium of the institute in the city lsquoIn Bangladesh remittances declined by an estimated 111 per cent in 2016 in the face of lower oil prices and fiscal tightening in the GCC countries Among other reasons use of Illegal channel by the expatriates is doing harm to our countryrsquo Bangladesh Bank deputy governor Shitangshu Kumar Sur Chowdhury said He said that it would not be possible to stop Hundi totally but BB is working to check the transactions through the illegal channel To ease the formal channel BB has reduced the security deposit requirement for the exchange houses abroad to make arrangements for remittances with local banks Shitangshu said The BB deputy governor hoped that Non-Resident Bangladeshis would come forward to know the importance of their money to be sent through banking channels BB former executive director Yasin Ali said that national economy was being hindered due to remittance inflow through illegal channels He suggested using mobile banking facilities for remittance inflow saying that the area of mobile banking expanded many fold in last five years Helal Ahmed Chowdhury former managing director of Pubali Bank suggested bankers to be courteous with bank customers Source httpwwwnewagebdnetarticle28041study-blames-mobile-hundi-for-falling-remittances-thru-banking-channel

POLICY SUPPORT MUST TO DIVERSIFY EXPORT BASKET Speakers on Thursday said that in order to diversify the countryrsquos export basket export-oriented businesses should be given the policy support that has proved highly successful in bringing vibrancy to the countryrsquos RMG sector They were speaking at a workshop styled ldquoExport Diversification Challenges and Prioritiesrdquo organised by Bangladesh Enterprise Institute (BEI) in the auditorium of International Finance Investment and Commerce Bank in Dhaka Dr Mohammad A Razzaque former head of International Trade Policy at Commonwealth Secretariat in London presented a keynote paper in the programme chaired by Salman F Rahman private sector development advisor to Awami League President and Prime Minister Sheikh Hasina Skill development measures may also play a vital part in this regard Salman said export diversification would be possible only when adequate and appropriate policy support is provided to all export-oriented industries Dr Razzaque in his keynote paper suggested revamping and deepening policy support such as providing cash assistance and bonded warehouse facilities to all such industries to improve their export competitiveness He also highlighted the need for further expanding Bangladeshrsquos export basket as its penetration into global export markets in the last decade was very insignificant Eminent economist Prof Wahiduddin Mahmud said ldquoIn addition to providing subsidies and cash incentives to thriving and promising sectors on a long-term basis the government should take measures to strengthen the countryrsquos manufacturing baserdquo

Daily News Flash 12th November 2017

22

Shafiul Islam Mohiuddin president of the Federation of Bangladesh Chambers of Commerce and Industry said the governmentrsquos support is a must to create a strong manufacturing base for export diversification ldquoSkill development measures may also play a vital part in this regardrdquo Addressing the event as the chief guest Commerce Minister Tofail Ahmed said export diversification depends on businessmenrsquos initiatives He however pledged all necessary support from the government for export diversification to meet the countryrsquos $60 billion export target by 2021 BEI President Farooq Sobhan emphasised engaging the private sector in relevant policy discourses to achieve the target ldquoA private sector-oriented policy mechanism is very important as rapid changes are taking place in the global trade landscape Understanding implications and generating timely policy responses to unfolding developments will be meaningful only when the private sector is able to benefit from themrdquo said Sobhan Among others Mustafizur Rahman a fellow at the Centre for Policy Dialogue Kazi M Aminul Islam executive chairman of Bangladesh Investment Development Authority Bijoy Bhattacharjee vice chairman of Bangladesh Export Promotion Bureau and Md Nojibur Rahman chairman of the National Board of Revenue also spoke Source httpwwwdhakatribunecombusinesseconomy20171109policy-support-must-diversify-export-basket

BANKS LACK REMEDIAL STRATEGY WHILE NPL RISES WORRYINGLY Some of Bangladeshs banks dont have in-depth look into the problem of spiraling non-performing loans (NPL) while many others try to frame remedial strategies perfunctorily Such observations came out from studies on banking as well as financial sector at large as the NPL surge worries many quarters One finding shows that around 11 per cent of the countrys banks did not have an in-depth look into the issue of NPLs in the past year despite a growing concern over the problem in the financial arena The recent industry-wide survey also revealed that around 30 per cent of the countrys banks had not assessed their past NPL-reduction strategies at all while 36 per cent did so only on an ad-hoc basis The findings came out from the survey of the Chief Risk Officers at the banks on issues concerning NPL strategy in their institutions Leading banking research and training institution Bangladesh Institute of Bank Management (BIBM) conducted the study The research findings come at a time when the ballooning NPLs is becoming a major issue with the countrys banking industry and also triggering concerns and criticisms As per the central bank data the volume of NPLs had increased by more than 21 per cent to Tk 62172 billion by the end of 2016 swelling from Tk 51371 billion a year before The findings are genuinely surprising as we are struggling to find a bank for which NPL is not an issue in some capacity said Sazib Azad Senior Advisor of BIBM who led the research initiative Furthermore if the bank itself is immune to the impact of NPL even then they need to consider whether they are immune from structural or market-level impacts as well he told the FE However relevant survey results show the potential lack of such considerations as only 10 per cent of bank CROs taking part in the survey said that their banks are addressing potential dependence on market assessment and strategy What is more surprising is that the NPL strategies of around 62 per cent of the banks are not signed off by the boards the survey found

Daily News Flash 12th November 2017

23

This is quite striking because given the severity of the non-performing-loan issue the NPL strategy should be signed off by the boards Mr Azad said adding Boards are not only accountable for the health of the banks but are also in position to release resources to get to grips with the issue In addition the survey result also revealed 31 per cent of the banks not communicating their NPL strategy across the bank NPL as an issue needs to be addressed from ground up But the results show that this is not happening at our banks said an expert who was involved with research Meanwhile 25 per cent of the CROs said they were not tracking the implementation and effectiveness of NPL strategy in their banks- something which according to experts is a cause of concern Given how critical an issue NPL exposure is we would expect every CRO to track how the NPL strategy is being implemented its effectiveness and how to improve matters to the Board Risk Committee and the Board the banking experts said Meanwhile the survey results also found that although 94 per cent of the banks had stress-tested their balance sheet in terms of NPL drag this figure drops to 56 per cent while considering the impact to and from the wider economy market and structural aspects It seems that 33 per cent of the banks do not formally consider this aspect with a further 11 per cent not looking at this dimension at all the researchers said Experts also noted that with Basel 3 farther putting capital under pressure sensible banks should dynamically model the impact of key risks to their capital However the survey results show 17 per cent of the banks are not doing so while 31 per cent doing it in a limited manner Asked whether their banks risk-appetite-statement metrics reflected their NPL strategy 36 per cent of the respondents said they do so in a limited capacity while a further 80 per cent are not doing that at all It was also found that 25 per cent of the C-Suites have specific NPL-strategy-related targets while 31 per cent of the CROs have the same Meanwhile when asked whether they consider their NPL strategy to be embedded just over half of them or 52 per cent of the survey participants said Yes This according to experts is clearly not fit for purpose given the severity of the NPL issue facing the banking sector The first step in looking into the NPL issue is to assess internal capabilities to effectively manage NPLs Next external conditions or operating environment needs to be considered Finally the capital implications of the NPL strategy need to be analyzed said Sajib Azad The findings of the survey will be shared with the stakeholders during the next CRO forum of BIBM expected to take place next month where the issue of Risk Culture will also figure high The biggest reason for the swelling of NPL in our banking sector is a lack of good governance To check the ballooning of NPL the internal governance of the banks has to be strengthened above all Director-General of BIBM Toufic Ahmad Choudhury said Meanwhile the survey also found banks tending to consider time-horizon portfolio segment and exposure-level-based targets to be broadly equally important to their NPL strategy In terms of options preferred for reducing NPL banks consider change of exposure type to be most effective (36 per cent) followed by active portfolio reductions (33 per cent) and hold forbearance (31 pe rcent) Source httptodaythefinancialexpresscombdfirst-pagebanks-lack-remedial-strategy-while-npl-rises-worryingly-1510417700

GOVT SEEKS US$183B UNDER 39TH JAPANESE ODA PACKAGE The government has sought around US$183 billion worth of assistance from Japan for bankrolling six development projects officials said Saturday

Daily News Flash 12th November 2017

24

Officials at the Ministry of Finance (MoF) said they have already discussed the issue with the Japan International Cooperation Agency (JICA) We are hopeful of receiving funds under its upcoming 39th Official Development Assistance (ODA) package to finance six development projects a senior MoF official told the FE He said a JICA mission in September-October last completed its visit to Bangladesh to explore the possibilities of financing the proposed projects We are hopeful of signing the 39th ODA package with JICA within a couple of months he said After signing the loan deal the largest bilateral donor will start disbursement of funds from the proposed $183 billion aid package for the six development projects the MoF official added The proposed six projects under the 39th ODA package are Matarbari port development Dhaka MRT line-6 construction (phase-III) Dhaka MRT line -5 feasibility study Matarbari ultra super critical coal-fired power plant (phase-IV) Jamuna Railway Bridge construction and Health service strengthening project A senior official of Economic Relations Division said the proposed 39th ODA package will be very useful for Bangladesh as it will be utilised to develop the Matarbari port ongoing Matarbari power plant project conduct feasibility study and detailed design of the MRT line-5 in Dhaka and to construct railway bridge over the River Jamuna All of these projects are very important for the country to ensure smooth transportation and uninterrupted power supply he added Japan is the largest bilateral development partner of Bangladesh Over last 5-6 years it has enhanced its aid with confirmation of more than US$10 billion worth of funds under each of the aid packages In the last 38th ODA package signed in June 2017 JICA provided Yen 178223 billion ($164 billion) for utilising in six development projects on transport infrastructure power and water sector improvement works In June 2016 Japan signed the 37th ODA deal worth $150 billion (17354 billion Japanese Yen) with Bangladesh and in December 2015 it inked the 36th ODA package confirming $12 billion concessional loan for six development projects Under the last 38th ODA package JICA offered $700 million (Yen 76825 billion) for Hazrat Shahjalal International Airport Expansion project $480 million (Yen 5273 billion) for 2nd Kanchpur Meghna and Gumti bridges construction $50 million (Yen 5593 billion) for Dhaka Mass Rapid Transit development project (Line 1) $100 million (Yen 10745 billion) for Matarbari ultra super critical coal-fired power plant $190 million (Yen 20477 billion) for Dhaka underground substation construction project and $110 million (Yen 11853 billion) loan for small scale water resources development project Japan has so far provided Bangladesh with nearly US$12 billion in assistance since the financial year (FY) 1971-72 Source httptodaythefinancialexpresscombdfirst-pagegovt-seeks-us183b-under-39th-japanese-oda-package-1510417739

SUMMIT GROUP ENTITIES TO ISSUE PREFERENCE SHARES WORTH $1250M A subscription closing ceremony to raise capital through issuance of preference shares worth BDT 1000 million (USD 1250 million) for Summit Barisal Power Limited amp Summit Narayanganj Power Unit II Limited was held recently at Pan Pacific Sonargaon Dhaka said a statement LankaBangla Finance Limited acted as the Mandated Arranger LankaBangla Investments Limited acted as the Issue Manager and The City Bank Limited acted as the Agent Account Bank amp Custodian Bank to raise the fund In the event Mr Lt Gen (Retd) Engr Abdul Wadud Managing Director of Summit Barisal Power Limited amp Summit Narayanganj Power Unit II Limited Mr Khwaja Shahriar Managing Director amp

Daily News Flash 12th November 2017

25

CEO of LankaBangla Finance Limited Mr Mohammed Nasir Uddin Chowdhury Managing Director of LankaBangla Capital Market Operations Mr Mominul Islam Managing Director amp CEO of IPDC Finance Limited Mr R Q M Forkan Managing Director amp CEO of Bangladesh Commerce Bank Limited Mr Faruq M Ahmed Additional Managing Director of Trust Bank Limited Mr Akthar Hamid Khan Deputy Managing Director of Pubali Bank Limited Mr Arif Hasan Khan Vice President of Modhumoti Bank Limited Mr Mohammad Ibrahim Khalil FCA Vice President amp CFO of Bank Asia Limited and Mr Mahbub Jamil Vice President and Head of Structured Finance of The City Bank Limited along with other senior officials from the companies were present Source httptodaythefinancialexpresscombdstock-corporatesummit-group-entities-to-issue-preference-shares-worth-1250m-1510411878

BMBA URGES MUHITH TO EXEMPT INVESTMENTS BY MF SPONSORS Bangladesh Merchant Bankers Association (BMBA) has urged the finance minister to exclude some components including sponsors investments in mutual funds (MFs) from the banks exposure to the capital market It made the request for ensuring an environment conducive to gradual development of the capital market according to a proposal submitted to Finance Minister AMA Muhith last week The BMBA said the long-term or strategic investments needed to be excluded while calculating the exposure as these investments were not intended for frequent trading Non-convertible preference shares and non-listed securities also need to be excluded from the capital market exposure as it will never influence the capital market volatility it said in a letter to the minister According to the letter the MFs are passive investments where investors themselves are not involved in investment decision making and such fund portfolios are mostly of long-term nature than frequent trading On the other hand the sponsors of the MFs need to hold 10 per cent of the investment until liquidation of the fund So considering the fact the sponsors portions in MFs need to be excluded from the banks capital exposure said the BMBA proposal As per the Banking Act 1991 it said reporting requirement is on solo basis but the central bank has introduced consolidated calculation which is of dual effectdouble counting in the market exposure This kind of restrictive measure creates panic situation in the market and may hinder the potentials and prospects of the capital market as a whole the BMBA said It also said that this kind of practice needed to be stopped as such requirements and reporting practice would further squeeze the market and that the investors would lose their interest The BMBA said some organisations have invested on strategic purpose and were holding positions in the board and their exposure increased with rising the market price of MF units On the other hand in compliance with the securities rules they are unable to sell shares to reduce exposure the BMBA said terming the situation complicated In its letter the BMBA said that the capital market exposure of some banks and financial institutions increased without fresh investments following the upward trend of the market price as the exposure is calculated on the basis of market price If the banks need to go for selling off their excess exposure this will create unnecessary selling pressure on the market said the BMBA The association requested the finance minister to consider their proposal to facilitate the growth of the capital market by its own strength and prospect Source httptodaythefinancialexpresscombdstock-corporatebmba-urges-muhith-to-exempt-investments-by-mf-sponsors-1510411950

Daily News Flash 12th November 2017

26

ATIUR STRESSES ROLE OF REGULATORS IN DIGITAL FINANCIAL INCLUSION Former Bangladesh Bank Governor Dr Atiur Rahman chairs a session at the 5th Biennial Competition Regulation and Development Conference at Jaipur in India on Thursday Success of digital financial inclusion depends on the prudent role of the regulating bodies to a great extent And the recent progress in Bangladesh in this regard is a good example for the rest of the world to follow said Dr Atiur Rahman former governor of Bangladesh Bank says a statement He was chairing a session at the 5th Biennial Competition Regulation and Development Conference at Jaipur India on Thursday The three-day conference is being hosted by CUTS International and OECD Speakers of the session included Ravinder S Aurora Senior Vice President of Mastercard David Ongolo Kenyan Competition Authority and Dr A K EnamulHaque Professor of East West University Dhaka Many developing countries survived and even thrived during the last global financial crisis because they chose to follow a broad-based financial inclusion strategy And digital solutions played a crucial role in this financial inclusion drive said Dr Rahman He added that service providers must focus on reaching out to the customers in the rural socio-economic conditions Dr Rahman said that experience from Bangladesh can answer many of the burning questions regarding digital financial inclusion The central bank of the country has facilitated bank-led digitisation drive Be it Mobile Financial Service or be it Agent Banking the Bangladesh Bank has encouraged traditional players (ie the commercial banks) to lead the way And it has been proven to be very successful He also said that the world is witnessing only the beginning of the digital finance revolution Hence we must learn from all these experiments share our experiences and know-hows Only then we can work towards shaping global standards and practices Dr Rahman finally asked all central banks to be more proactive and collaborative with other stakeholders including non-traditional financial service providers to facilitate orderly development of digital financial inclusion so that consumers interests are better protected The grievance redressal mechanism developed in Bangladesh Bank with infusion of state of the art technology to gain trust of the customers in financial inclusion was also discussed widely in the session The panelists highly appreciated Bangladeshs regulatory move with public interest in mind using latest technology for replicable digital financial inclusion Source httptodaythefinancialexpresscombdtrade-marketatiur-stresses-role-of-regulators-in-digital-financial-inclusion-1510416319

FAO FEARS NEGATIVE BD FOOD OUTPUT GROWTH ON FLOODING Recent flooding has dampened the outlook for Bangladesh a likely third successive season of little or negative food production growth mainly rice reports UNB quoting FAO Barring major setbacks production recoveries could instead permit Bangladesh and Sri Lanka to slightly lower their 2018 imports to 11 million and 450 000 tonnes respectively according to the latest Food Outlook published by the UN Food and Agriculture Organisation (FAO) Among other rice importers Bangladesh Iraq Nigeria and the Philippines are all similarly predicted to replenish their inventories according to the report a copy of which obtained by the news agency These gains are however likely to be offset by stock reductions in the Republic of Korea Madagascar Sri Lanka and the United Republic of Tanzania all linked to output shortfalls Although the use of rice as animal feed is being sustained by the release of supplies from government granaries in Japan the Republic of Korea and Thailand more affordable feedstuffs are expected to displace rice in most other countries especially in Bangladesh China (Mainland) and Vietnam

Daily News Flash 12th November 2017

27

Since the previous Food Outlook report a series of unfavourable climate-related events have affected main paddy crops in the Northern Hemisphere which have now reached the harvesting stage This has been the case in Asia where unlike 2016 the critical Northern Hemisphere summer months were characterised by mixed growing conditions that inhibited planting expansions As a result FAOs latest forecast of world rice production in 2017 points to a broadly stable output level of 5008 million tonnes Production in Asia is now forecast to fall 550 000 tonnes below the 2016 bumper harvest to 4525 million tonnes The UN agriculture agency has said the cost of importing food is rising in 2017 driven by increased international demand for most food stuffs as well as higher freight charges The cost of importing food is forecast to rise six per cent in 2017 to $1413 trillion making it the second highest bill on record while food commodity prices have been generally stable according to the latest Food Outlook that expressed concern about the economic and social impact of this trend on poor countries Although weather disruptions are set to stall production growth this season global rice supplies are still forecast to exceed utilisation enabling a small expansion of world rice inventories Global trade is expected to rise only modestly in 2018 after staging an 8 per cent recovery in 2017 The food import bills are set to increase by double-digit rates for least-developed countries (LDCs) and low-income food-deficit countries Aromatic rice varieties have risen eight times faster than the FAO All Rice Index which is up four per cent on the year However the higher import costs come at a time when inventories are robust harvest forecasts are strong and food commodity markets remain well supplied The export of tropical fruits is promising for poverty relief and rural development as almost all production takes place in developing countries The export volumes of mango pineapple avocado and papayas are on course to achieve a total combined value of $10 billion this year according to the Food Outlook Source httptodaythefinancialexpresscombdfirst-pagefao-fears-negative-bd-food-output-growth-on-flooding-1510336161date=11-11-2017

STOCKS NUDGE HIGHER AS BANK TELECOM ISSUES SURGE Stocks extended the winning streak for the two consecutive weeks that ended Thursday as enthusiastic investors continued their buying appetite on bank and telecommunication issues Market operators said the positive momentum in some large-cap issues especially from banking telecom pharmaceuticals and food amp allied sectors helped the bourse to stay upbeat The banking sector posted the highest return of 445 per cent as 27 out of 30 listed banks ticked higher Four banks gained more than 10 per cent each The telecom sector also surged 342 per cent as Grameenphone the countrys largest market-cap listed companys shares price jumped 40 per cent to close at Tk 45690 each The market extended the winning streak riding on heavyweight bank and telecom issues said an analyst at a leading brokerage firm The week featured five trading sessions as usual Of them first session saw marginal correction while last four closed higher Week-on-week DSEX the prime index of the Dhaka Stock Exchange (DSE) jacked up by 9454 points or 155 per cent to finish at 6193 The two other indices -- the DS30 index and the DSE Shariah Index (DSES) - also closed higher at 2244 and 1341 points

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Both the indices added 4264 points and 1218 points respectively During the week banking pharmaceuticals and telecommunication sector stocks contributed more to keep the market up commented City Bank Capital Resources a merchant bank in its weekly analysis The port city bourse Chittagong Stock Exchange (CSE) also ended higher The CSCX advanced 180 points or 156 per cent to finish at 11618 International Leasing Securities a stockbroker noted that the market observed an upbeat vibe throughout the week riding on the news of soaring of net foreign investment in the capital market in the first 10 months of 2017 compared to the same period of last year Net position of foreign portfolio with the DSE stood at Tk 1623 billion in January-October compared to Tk 80 billion in the same period a year ago However some investors were reshuffling their portfolios after observing the year-end corporate declarations and first quarter earning disclosures the stockbroker added According to EBL Securities The market witnessed an upbeat tune throughout the week riding on regained confidence among the market participants The stockbroker noted that preferable year-end and quarter-end earnings declarations by several companies helped them to remain positive about market The total turnover for the week amounted to Tk 3591 billion on the DSE which was Tk 3027 billion in the week before The daily turnover averaged Tk 718 billion which was nearly 19 per cent higher than the previous weeks average of Tk 605 billion Block trade accounted for 16 per cent of the total weekly turnover where stocks like BATBC Beximco Pharma Shahjalal Islami Bank Square Pharma and Singer Bangladesh dominated the block trade board Banking sector kept its dominance over the turnover chart grabbing 35 per cent of the weeks total transaction followed by engineering with 18 per cent and pharmaceuticals 11 per cent Out of 336 issues traded 207 closed lower 116 ended higher and 13 issues remained unchanged on the DSE trading floor during the week The market capitalisation of the DSE rose 137 per cent as it was Tk 4123 billion on the opening day of the week and it stood at Tk 4179 billion on closing day of the week City Bank topped the weeks turnover chart with 5390 million shares worth Tk 184 billion changing hands followed by IFAD Autos with Tk 121 billion Brac Bank Tk 10 billion LankaBangla Finance Tk 994 million and Dhaka Bank Tk 926 million Reckitt Benckiser was the weeks best performer posting a gain of 1925 per cent while Stylecraft was the weeks worst loser slumping by 3322 per cent A new issue - Oimex Electrode-- made debut last week and soared 1042 per cent from its offer price of Tk 10 in the first trading day on Monday Source httptodaythefinancialexpresscombdstock-corporatestocks-nudge-higher-as-bank-telecom-issues-surge-1510332934date=11-11-2017

BANGLADESH GROWING AS DENIM HUB The growing global demand for fashionable denim wear encouraged both local and foreign entrepreneurs to make fresh investment in Bangladesh participants and organisers of Bangladesh Denim Expo have said Many of the 30 local denim mills are going for expansion while a couple more will come into operation with fresh investment within next two or three years they said Some foreign companies are opening offices or setting up factories in Bangladesh they added The seventh edition of the two-day Bangladesh Denim Expo was held in the city recently with the theme transparency to highlight the need for transparency in the entire denim supply chain

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29

A total of 65 exhibitors from 12 countries participated in the show while more than 12 thousand visitors from across the world registered online to attend the two-day expo organisers said Talking to the FE on the sidelines of the expo Md Khalid Mosharof assistant general manager at Dekko Group said the group invested Tk 15 million in setting up a new factory of 44 lines at Ashulia that would go for denim item production in June next The main reason is to tap the growing global demand he said Echoing him Syeed Ahmed Chowdhury general manager operation at Square Denim said the company expanded its denim fabric production capacity to 30 million yards from the existing 15 million yards per month mainly to meet the demand He however opined that the expansion is taking place more in garment segments than in fabric production There is no alternative to expansion to sustain the existing business and achieve the $50 billion garment export earnings target by 2021 Sharif Zahir managing director of Ananta Group said stressing the need for positive branding of the sector Meanwhile Landes a German denim accessories maker started production in its new factory at Savar from this month It invested US $05 million We opened the factory in Bangladesh as we think this is the hub for denim business and there is a lot of business prospects here Manfred Slowik chief operating officer of Landes told the FE at his stall at the expo By the end of next year the total workforce in our new plant will be 120 people as we are recruiting new people from existing 30 Mr Slowik said Landes has a target to produce 500 million pieces of leather patches used in denim trousers as accessories in a year at its Savar plant from where such accessories will be supplied to the whole Asian region Many big brands like HampM VF and Walmart are their customers he said Nezahat Boni senior account manager of Orta a Turkish denim maker said her company supplies 30 million metres of denim fabrics in Bangladesh in a year against only 800 meters in 2011 We opened an office in Bangladesh in 2011 as we cannot ignore the importance of this country as a denim hub she said Prosperity Textile a Chinese company opened its office in Dhaka last year said Md Mujibul Hoque the companys Bangladesh Sales Director The company has targeted sale of 100 million yards a year across the globe while it also targets 30-40 per cent of their sales in Bangladesh Bangladesh is now the top denim products supplier to the European Union overtaking China and third largest to the US after China and Mexico industry people said Bangladesh supplies denim products to major global buyers and retailers including levis G-Star Raw HampM Tesco Wrangler Hugo Boss Walmart and Gap Source httptodaythefinancialexpresscombdtrade-marketbangladesh-growing-as-denim-hub-1510332061date=11-11-2017

EXPORTS UP 70PC IN JULY-OCTOBER Countrys export earnings grew by 703 per cent to US$1150 billion during first four months of the current fiscal year (FY 2017-18) according to official data released Thursday The earnings were $1079 billion in the same period (July-October) last FY In October 2017 the exports grew by 642 per cent to $284 billion the Export Promotion Bureau (EPB) data showed The overall exports in the first four months slightly (074 per cent) fell short of the periods target In October however the exports were 628 per cent higher than the months strategic target Readymade garment shipments fetched $943 billion marking 699 per cent growth during the period as compared to $882 billion in the same period of last FY

Daily News Flash 12th November 2017

30

The woven items registered 385 per cent growth in earnings to $445 billion than that of $428 billion in the same period of FY 2016-17 The earnings from knitwear export during the period grew by 995 per cent to $498 billion from $453 billion in the corresponding period of last FY Jute and jute goods exports rose by 1646 per cent to $34501 million from $29626 million in the same period of FY17 The earnings from agriculture products grew by 2022 per cent during the period while home textiles by 2037 per cent The earnings from leather and leather products however fell marginally by 002 per cent to $42844 million during the period than that of $42851 million in the same period last FY The export earnings from frozen food and live fish grew by 1541 per cent to $22691 million from $19661 million of the corresponding period of last fiscal Mahmud Hasan Khan vice president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) said the exports in the first four months of the current fiscal year fell short of the expected growth mainly because of failure in maintaining the lead time and short supply of gas and electricity Terming the knitwears growth satisfactory he said woven items manufacturers have been struggling to cope with the new challenge as buyers were reducing the volume of orders due to failure in meeting the lead time Without efficient port and strong backward linkage industry especially for the woven sub-sector it will be difficult for the sub-sector to bounce back he feared He pointed out that maximum of the woven fabric requirements were being met through imports But it was taking too much time to clear the imported fabrics and additional charges as a result at the Chittagong seaport that was facing unbearable congestion The government should provide necessary policy support to the exporters to establish strong backward linkage industry for the woven sub-sector he added Source httptodaythefinancialexpresscombdfirst-pageexports-up-70pc-in-july-october-1510248870date=10-11-2017

GAS CRISIS HURTING OUTPUT IN INDUSTRIAL BELT Factories in the countrys Tongi-Gazipur industrial belt have been facing acute gas crisis over the past few months following diversion of gas to upstream power plants The crisis has deteriorated further this week albeit some improvements for a few days last week said local industrialists and businessmen According to them if the ongoing gas crisis persists they may be forced to shut down their factories Officials of the Titas Gas Transmission and Distribution Company Limited (TGTDCL) however blamed the Petrobangla for the gas crunch Sources concerned say the industrial belt of Tongi-Gazipur is suffering badly for about four to five months from low pressure of gas coupled with poor electricity voltage -- often resulting in huge volume of industrial wastages and reduction of production efficiency According to the industry insiders a factory in the industrial belt requires 04 PSI (production per square inch) as optimum gas pressure but the pressure at times comes down to as low as 01 PSI these days -- especially during the daytime Gas pressure in the area becomes normal around 10pm11pm and stays for not more than 08 hours until 6am7am an entrepreneur of the industrial belt informed Asked an official of Titas said they are at present getting nearly 250 million cubic meters (MCM) less in recent weeks against their current demand of 1800 MCM gas in Titas franchise The downstream Titas franchise area covers greater Dhaka region which includes Gazipur alongside some other adjoining districts and greater Mymensingh he said

Daily News Flash 12th November 2017

31

A Petrobangla source however cited gas supply on priority basis to a number of upstream projects including power plants as reason behind supply shortage When asked Managing Director of Akij Group Sk Bashir Uddin termed the situation really worrisome According to him two of Akij Group companies situated in the area -- Akij Printing amp Packages Limited and Dhaka Tobacco Industries -- jointly contributed nearly Tk 35 billion (3500 crore) to the national exchequer in the 2016-17 fiscal year But were very much worried about our industrial output this year as production disruption following the twin crises involving gas supply and power supply Both will eventually disrupt our retail business in every phase he quipped This often results in a high rate of industrial wastage and reduction of production efficiency he added Bangladesh Auto Re-rolling Steel Mills amp Association Chairman Manwar Hossain who is also Anwar Group Managing Director echoed the same concern Factories in the industrial belt are now operating at one-third of their capacity which may lead to labour unrest and default of huge sum of bank loans he said Such disruption of production he cautions may even cause sudden shutdown of factories According to him none of the victims in that case will be the wilful defaulters -- they will be the victims of circumstances The businessman who has a steel factory called Anwar Ispat Limited in the industrial belt called for immediate introduction of ECM (electronically controlled meters) to check unabated gas engineering in the area which he deems to be yet another reason for gas supply crunch Titas officials according to him are encouraging co-generation scheme to help address the severe gas crisis But he said co-generation will require stable and smooth gas supply Government should ensure at least 10-15 years of smooth gas supply to encourage co-generation as what he said any industrial investment requires 20 years of payback period TGTDCL Deputy Managing Director Engineer Abdul Wahab Talukdar who is also the Project Director of Sripur-Joydevpur Transmission Pipeline Project said We cannot do anything to address the crisis if there is a lack of adequate gas supply Mentioning that all factories in the industrial belt are like my babies he unequivocally said Titas is not at fault He also admitted that priority-based power plants gas supply being the reason behind the current spell of gas crunch We have already started introducing electronic volumetric corrector (EVC) to stop illegal gas use in the area he said Factories he added should go for co-generation scheme for protecting their own interest Co-generation means utilising and absorbing heat generated from gas generators which Mr Wahab said will save energy A section of the businessmen however called for stopping fertiliser production and distributing the same among people at a subsidised price after importing it to facilitate smooth supply of gas to other industries Even if the government stops fertiliser production and opts for importing it for distribution at a subsidised rate there will only be an insignificant loss compared to the overall losses now being incurred said an industrialist who has more than one factory in the industrial belt Local sources said illegal and unapproved gas connections in various industries in and around the zone are also affecting gas supply badly among other reasons Source httptodaythefinancialexpresscombdfirst-pagegas-crisis-hurting-output-in-industrial-belt-1510249018date=10-11-2017

Daily News Flash 12th November 2017

32

SINGLE PERSON MAY FORM COMPANY A single person may form a commercial firm under a provision of the companies law being updated along with some other major business-stimulating measures Official sources said the government is considering incorporating some new provisions including one allowing individuals to form any company into the updated Companies Act The other provisions are formation of an appellate tribunal to resolve legal matters without wasting much time widespread automation of companies work and submission of annual company reports online Earlier the Ministry of Commerce (MoC) had received some recommendations from the stakeholders on how to update the law they added We got most of the recommendations from the stakeholders We hope we will be able to prepare the draft Companies Act within a month Md Obaidul Azam director trade organisations (DTO) told the FE He said the recommendations the ministry had received so far were being scrutinised before preparing a draft for updating the companies act Earlier different trade bodies had sent their respective recommendations to the MoC for incorporation into the law The MoC will hold a meeting with the countrys apex trade body after assessing the recommendations and suggestions the ministry official said Talking to the FE a leader of an influential trade body said they had sent some recommendationssuggestions to the MoC for the new Companies Act for betterment of the countrys trade and business According to Section 2 (1) (c) of the Companies Act 1994 Company means a company formed and registered under this Act or an existing company Thus a company is an association of persons formed under the Companies Act 1994 with a view to achieving some common objectives Though a company is regarded a legal person it possesses similar rights and owes similar obligations like a natural person Now any individual fulfilling the new criteria may be allowed to form a firm Source httptodaythefinancialexpresscombdfirst-pagesingle-person-may-form-company-1510249090date=10-11-2017

DSE TURNOVER CROSSES TK 80 BILLION MARK The daily turnover on Dhaka Stock Exchange (DSE) exceeded the Tk 80 billion mark on Thursday as investors took fresh exposure to the banking sector Turnover a crucial indicator of the market reached Tk 870 billion on the countrys premier bourse jumping 14 per cent from the previous days transaction of Tk 765 billion It was the biggest single-day transaction since October 11 when the turnover totalled a record Tk 1092 billion Along with rising turnover DSEX the prime index of the Dhaka bourse continued to keep its gaining momentum closing 3449 points higher at 6193 points DSEX which replaced the DGEN in nearly five years back added more than 121 points or 20 per cent in the past four consecutive sessions The two other indices -- the DS30 index and the DSE Shariah Index (DSES) -- also followed suit to end at 2244 and 1341 points after gaining 1422 points and 443 points respectively Brokers said the market maintained the bullish trend for the four straight sessions as the enthusiastic investors chased the banking sector stocks The market continued the bullish trend for the four consecutive sessions as the enthusiastic investors were active for the banking food and engineering sector stocks commented EBL Securities a stockbroker in its regular market analysis

Daily News Flash 12th November 2017

33

It noted that the core index remained positive throughout the session as optimistic investors kept buying sector-wise stocks while some rebalanced their portfolios Meanwhile share price of newly listed Oimex Electrode continued to decline for the three consecutive sessions after unusual hike during its debut trading on Monday The companys share price fell 763 per cent to close at Tk 9810 on Thursday after jumping more than tenfold during the debut trading which experts termed unusual Block trade contributed Tk 241 million to the days total turnover with stocks like BATBC Square Pharmaceuticals Singer Bangladesh and Beximco Pharma dominating the block trade board Among the major sectors pharmaceuticals posted the highest gain of 122 per cent followed by banking sector (083 per cent) food amp allied (067 per cent) engineering (033 per cent) financial institutions (003 per cent) and power (003 per cent) Only telecommunication sector faced a 045 per cent correction A total number of 0140 million trades were executed in the days trading session with trading volume totalling 23171 million securities The total market capitalisation of the DSE stood at Tk 4179 billion against Tk 4168 billion in the previous session Losers however took a modest lead over the gainers as out of 325 issues traded 140 closed lower 130 closed higher and 55 remained unchanged on the DSE trading floor City Bank dominated the turnover chart for the second day in a row with 1035 million shares changing hands closely followed by Dhaka Bank LankaBangla Finance Brac Bank and Keya Cosmetics Reckitt Benckiser was also the days best performer posting a gain of 624 per cent while Qasem Drycells was the days biggest loser shedding 1235 per cent The port city bourse Chittagong Stock Exchange (CSE) also ended higher with its Selective Categories Index -- CSCX --gaining more than 62 points to close at 11618 Losers beat gainers as 113 issues closed lower 97 closed higher and 37 remained unchanged on the CSE The port city bourse traded 1604 million shares and mutual fund units generating a turnover of Tk 483 million Source httptodaythefinancialexpresscombdstock-corporatedse-turnover-crosses-tk-80-billion-mark-1510245247date=10-11-2017

TEN COS GRAB 32PC TURNOVER ON DSE The banking sector continued to dominate the transaction chart of the Dhaka Stock Exchange (DSE) accounting for 39 per cent of the total turnover on Thursday Four banks made their way to the top 10 turnover chart with City Bank leading the chart for the second day in a row Brokers said the investors chased the banking sector issues as more than 63 per cent of listed banks showed positive earnings in the third quarter (July-September period) Meanwhile top 10 traded companies including four banks grabbed more than 32 per cent of turnover on the Dhaka bourse The total turnover on the premier bourse reached Tk 870 billion up 14 per cent from the previous days Tk 765 billion The most active shares in terms of value included City Bank Dhaka Bank LankaBangla Finance Brac Bank Keya Cosmetics Square Pharmaceuticals Beximco Pharmaceuticals IFAD Autos Exim Bank and IDLC Finance According to statistics available with the DSE about 1035 million shares of City Bank were traded generating a turnover of Tk 553 million or 635 per cent of the total transactions

Daily News Flash 12th November 2017

34

The companys share price hovered between Tk 5240 and Tk 5440 before closing at Tk 5390 advancing 228 per cent over the previous session Dhaka Bank came in next with shares of Tk 395 million changing hands contributing 454 per cent to the total turnover The banks share price closed 347 per cent higher at Tk 2380 LankaBangla notched the third spot with shares of Tk 266 million changing hands making up 305 per cent of the total turnover Its share price ended 063 per cent higher at Tk 6430 Brac Bank emerged the fourth with shares of Tk 257 million changing hands grabbing 295 per cent of the total turnover The banks share price settled 123 per cent higher at Tk 107 Keya Cosmetics featured a turnover of Tk 247 million or 284 per cent of the total turnover Its share price closed 201 per cent higher at Tk 1520 The turnover of Square Pharma was Tk 241 million or 276 per cent of the total transaction Its share price ended 612 per cent down at Tk 27890 Beximco Pharma featured a turnover of Tk 211 million or 242 per cent of the total turnover Its share price advanced 428 per cent to close at Tk 10960 The turnover of IFAD was Tk 208 million accounting for 238 per cent of the total turnover Its share price closed at Tk 14070 gaining 195 per cent Exim Bank featured a turnover of Tk 196 million or 225 per cent of the total transaction The banks share price inched up 055 per cent to close at Tk 1830 IDLC also made its way to the top ten turnover chart with shares of Tk 188 million changing hands Its share price closed 223 per cent higher at Tk 9150 Source httptodaythefinancialexpresscombdstock-corporateten-cos-grab-32pc-turnover-on-dse-1510245290date=10-11-2017

FOREIGN INVESTMENT HIKE INFO DRIVES MODERATE GAINS ON DSE The Dhaka bourse Thursday closed the session posting a moderate rise in the broad index and turnover amid mixed performance displayed by major sectors On the day most of the major sectors declined but the turnover crossed Tk 80 billion-mark after two sessions on Dhaka Stock Exchange (DSE) mainly because of investors increased participation in the banking sector According to a market review of International Leasing Securities positive momentum in some big-cap stocks especially from bank food and engineering sectors helped the bourse to close in green The market started the session with a positive note and the DSE broad index DSEX witnessed little ups and downs before closing higher According to AT Capital Partners the market remained sideways till the midsession The DSEX rose again in the second half of the session and closed at 61936 up by 345 points The shariah based index DSES and blue chip index DS30 also rose marginally The turnover stood at above Tk 870 billion which was 1370 per cent higher than the turnover of the previous session The confident drive was initiated by the investors buying spree riding on the news of doubling net foreign investment in stocks year-on-year in the first ten months of 2017 said the International Leasing SecuritiesAmong the gaining sectors bank advanced 08 per cent and engineering 03 per cent Of the losing sectors pharmaceuticals amp chemicals declined 11 per cent telecommunication 05 per cent and textiles 09 per cent The banking sector grabbed 384 per cent of the market turnover at the premier bourse DSECity Bank topped the turnover chart with a value of Tk 553 million followed by Dhaka Bank LankaBangla Finance BRAC Bank and Keya CosmeticsReckitt Benckiser (Bd) limited topped the gainers chart with a rise of 624 per cent to close at Tk 18456 while Quasem Drycells was the worst loser after declining 1235 per cent to close at Tk 8230 Source httptodaythefinancialexpresscombdstock-corporateforeign-investment-hike-info-drives-moderate-gains-on-dse-1510245365date=10-11-2017

Daily News Flash 12th November 2017

35

MORE JAPANESE COMPANIES SEEK TO INVEST IN BANGLADESH Japanese Ambassador to Bangladesh Hiroyasu Izumi has said the Japanese investors are keen to invest in Bangladesh considering the lucrative offer and ideal atmosphere for foreign investment reports BSS The Japanese investors expressed more interest to invest in Bangladesh at recently-held the third round of Public-Private Economic Dialogue between Bangladesh and Japan he said while visiting the Chittagong Export Processing Zone (CEPZ) on Thursday The envoy expressed the hopes that Japanese investment in the Export Processing Zones (EPZs) will increase after the successful dialogue said a press release More and more Japanese companies will come to invest in this country he added General Manager of CEPZ Khorshid Alam maed a PowerPoint presentation highlighting the overall scenario of EPZ as well as Bangladesh Export Processing Zone Authority (BEPZA) Mentioning Bangladesh EPZs as the Bonanza for Investors he said investors from 38 countries have set up industries in the EPZs and invested US $442 billion He informed the ambassador that BEPZA has ensured three layer security system including 24-hour CCTV surveillance in the key points of EPZ and factory premises for the safety of the investors Source httptodaythefinancialexpresscombdtrade-marketmore-japanese-companies-seek-to-invest-in-bangladesh-1510250285date=10-11-2017

Source httpwwwarthosuchakcomarchives388209

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38

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41

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564388

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ও ও

ও ৩০ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111811 - - - -

-

২৭ ১১

১০

( ) ২৮৪

৬ ২৮ ৭ ১৫১

৭৪

ও - ও

ও - ও

ও ৩

৭ ১ ২৩

৯৪৪ ৮৮২ ১০

ও ৪ ৭ ও

৪ ৩৮ ও ১৫ ৪১ ২২ ৭০

২০ ৩৬ ১৩ ও

৪৬ ২২ ২০ ও

১৭ ৩৭১ ও ও

১৭ ও ৪৩ ও

Daily News Flash 12th November 2017

43

৬ ২০ ও ১৬

৩৫ ২০ ২৭

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111810 - - - - -

ও ও

১৩০ ও ১৪০

৫৫ ও ৯৭ ১১৩

৩৭

৩৪

৬১৯৩ ৬২ ১১৬১৭

৩০ ১৯

ও ও

ও - ও

৪৮ ৩১

১২ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111808 - - - - -

৩৫ ও ১০

ও ( ) ও

১০

ও ও -

২ ৩০০

২০১৪ ও

ও ৭ ২০১৪ ও ২০১৫

৫ ৭ ও ১২ ৮ ২৩

২০১৩ ১ ৪২০ ২০১৪ ১০ ৫ ১ ৫৭০

১৩ ৪ ও ১ ৩৫৮ ১০

২০১৬ ও ৩ ৫ ১ ৩১০ ২০১৪

২০১৬ mdash ২ ১ ঋ

১০ ও ২০১৩

২৯ ৮০ ২০১৪ ৫ ৭ ৩১ ৫০ ২০১৫

১২ ৩৫ ৩০ ২০১৬ ৭ ৩৭ ৮০

Daily News Flash 12th November 2017

44

২০১৪ ২০১৬

৩২ ৩৫ ও ৫০ ১৯

৫৬

১৭ ৪৬ ২০১৪ ২০১৬

৭২ ১০০ ও ১১১

২০১৪ ২০১৬ ১৫ ৬৩

৯১ ১১৪ ও ১১৮ ৮ ২৩

৮০ ৯০ ও

ও -

ও -

ও ও ও

১০ ও

১০ ও ২২

৭১ ১২ ৪২

৩২ ২৬ ও

ও ও

( ) ও

ও ২০২১ ও ও

৫ ১ ১৬

ও ও

Source httpbonikbartanetbanglanews2017-11-12137992 - - -- -

৫০০ ৫০০ ও

ও ৩০ ২০১৭

৫০০ ও ঋ ২০১৮

৩০

১ ২০ ও ১৫০

১১

Daily News Flash 12th November 2017

45

৩০০ ৬০০

( ) ও

১ ২৫ ও ১০

১০ ও

ঋ ও

৩০ ২০১৭ ৩ ও ১২ ও

( ) ২ ১৪ ২ ১

ও ৩০ ১১

( ) ও ও

( - ) ৬৬ ৫৫ ৩০

( ) ৩৪ ৯০

ও ও ও

( ) ও

ও ও ২০১৫ ৩০ ১০ ২০১৬

১২

( ) ৪১ ২০ ও ২৩ ৬০

৫০ ও

২০১৪ ৩০০ ও ১৪৮ ৪৬ ৫০

১৯১ ৬২ ৩৭ ৩১

১২ ৪৫ ৫০ ২৪

ও ( ) ১৬ ৫৩

ও ১৫ ২২

Source httpbonikbartanetbanglanews2017-11-12137966৫০০- - - - -ও -

৬৩

- ও ও

৬২ ৯৪ ৫

৬২

৯০

২০১৪ - -

- ও

২০১৬-১৭ ৫ ৬২ ও ২০১৩-১৪

১২

( ) ৯০

-

ও - - ও -

Daily News Flash 12th November 2017

46

- ও

৬২ ৯৪

২০১৩-১৪ ৭০ ৭৮ ২০১৪-১৫ ৫৪ ২২

২০১৫-১৬ ৩৯ ৩৩ ও ২৬ ২৩

ও ২০১৩-১৪

১২ ৩৬ ২০১৪-১৫ ৫ ৯১ ও ২০১৫-

১৬ ১৭ ৩০ ৫ ৬২

৩০ ২০১৭ ১০

২ ৮৬ ও ৩

ও ২৪ ( )

২৭

১৯৬৪ ১২

৪ ও ও ১৯৭২

ও ( )

ও ৩৪ ৮ ও

৯০

৪৫ ও ৫

১৯৬৪ ১৯৭২ ১৯৮৯

১০০ ও ২৬ ১৬ ২০ ৫৪৩ ৭৭

৫ - ৫১ ১৫ ৬০ ও

৩২ ৯০

Source httpbonikbartanetbanglanews2017-11-11137853 - - - - - -৬৩---

( ) ও

১০

ও ও ও

-

ও ও

ও ঋ ও

ও ২০১৪ ও

ও ও

২০১৩

( ) ও

Daily News Flash 12th November 2017

47

২০১৪

২০১৪-১৬ ও

২০১৪

ও ২০১৪

২০১৫ ২৭ lsquo ও rsquo

ও ও

২০১৬ ২৪

( )

ও ও

- ও

ও ও ১৯৮৩ ২০১৬

ঋ ( ) ৫৬০

৮৬৪

২০১৬ ২০১৯ ও

ও ১৫ ২৫ ৩০ ও ৩০

ও ঋ ও

২০১৬ ঋ ১

৩৪২ ঋ ৬ ৫২ ১২৩

ঋ ২ ৪৪৩ ঋ ১০

৮৪ ঋ ৪০

৭২৬

ও ২০১৬ ৭৪১

৪৫৭

২০৭ ২৪৪

১০ ও

ও ও ও ও ও

Daily News Flash 12th November 2017

48

Source httpbonikbartanetbanglanews2017-11-12137998 - - - - - ও- -

( )

৩০ ২০১৭ ২০

( ) ২ ১ ১ ৫৯ (

) ৩০ ( ) ১৫ ৩৭

ও ২৮ ১১

( ) ২৮

২০১৬ ৩০ ১৮ ২০

২০১৪ ও ২০

১৫ ৩০

১৮ ৮০ ও ৯ ৬০

Source httpbonikbartanetbanglanews2017-11-11137850 - - - -

ফ ৭ ২০১৭-১৮ ৭ ৩ ৭৪

( ) ও

( - ) ১ ১৫০ ৫৮

(২০১৬-১৭) ১ ৭৫ ৩ ৬০ ৭

৩ ১ ১৫৯ ২০ ৭৪

ও mdash

৬ ৬৫ ১৭ ৬৩

mdash ও ও

১৫ ৪১ ২২ ৬৯ ১০

১৯ ৬৬ ১০ ২০ ২২

mdash ও ও ও

৩৯ ৫১ ও ২ ও

১৬ ৪৬ ও ও ৬ ৯৯ ও

৩ ৮৫ ৯ ৯৫

১৯ ৮২

৮০

ও ( )

mdash

Daily News Flash 12th November 2017

49

ও ও

Source httpbonikbartanetbanglanews2017-11-10137755 - - - -৭- - --

ফ - ফ ও -ও

-ও

-ও

২৯-১০-২০১১ ৩ ( ) ২৮-১০-২০১৪

৩ ( ) ২৮-১১-২০১৬

২৮-১০-২০১৭ ৩ ( )

২০১৬-১৫৮১৩৪ ৪৪ ০৭-০৮-

২০১২ ১২(৬) ২ ( ) ৬ ( )

-ও - ও ২ ( )

৬ ( ) ও ও

-ও ৩ ( )

-

ও ও

১৯৯৪

২ ২২-০৫-২০১২ -ও ৩

- -

১৯৯৪

-ও

- ও

( )

১৯৯৪

১৯৯৪ -ও

Source httpwwwsharenews24comindexphppage=detailsampnc=1ampnews_id=6587

Daily News Flash 12th November 2017

50

ফ ফ

১৫ ও

-( ) ও

৪৯

১৬ ৮৫

৫১ ৪৯

৪ ৩৬

১৯১৩

১০০ ও ১৯০১ ১৯৬০

Source httpswwwdailystockbangladeshcom - - - -

- ( -১)

( ) ৮

৩০০ ও

( ) ১৬

- ২২৮ ৪৯ ১৮৩ ২০১৮

( ) ও

১৫০

( ) ও ৪০ ৩০

ও ও

ও ও

Source httpswwwdailystockbangladeshcom - - -

Page 20: Daily News Flash, 12th November, 2017 -  · PDF filebanglalink's revenue falls 4.57pc in q3 ... banks lack remedial strategy while npl rises worryingly

Daily News Flash 12th November 2017

20

GOVT TO SPEND FUND FOR TOBACCO CONTROL MEASURES CAMPAIGNS The government has finally framed a policy on the use of health development surcharge it imposed on tobacco products three and half years ago The health and family welfare ministry on Wednesday issued the gazette notification of Health Development Surcharge Management Policy-2017 identifying 16 sectors for spending the fund on The fund will mainly be used for limiting the demand for and supply of tobacco products financing tobacco control activities conducting researches and campaigns and operating Tobacco Tax Cell of the National Board of Revenue The revenue board in July 2014 imposed 1 per cent surcharge on all tobacco products both locally produced and imported ones aiming to spend the fund for implementing the programmes to control and discourage the use of tobacco products and prevent tobacco-related diseases In the last three fiscal years (2014-15 2015-16 and 2016-17) the tax authority collected around Tk 900 crore as health development surcharge from tobacco products including cigarette bidi gul zarda and other smoking and chewing tobacco products But the fund remains idle as the health ministry has not got the access to the fund over the years as there was no policy on how to the money be used Officials of the revenue board said that formulation of the policy had paved the way for utilising the fund for tobacco control and prevention of tobacco-related diseases They said that every year around Tk 300 crore would be added to the fund According to the policy the collected surcharge will be used for financing national tobacco control activities operation of the NTCC under the ministry campaigns in the mass media on health hazards of tobacco products and tobacco control and providing trainings to stakeholders The fund will also be used for setting up National Quitline a hotline to help people quit tobacco consumption and providing financial and technical support to organisations for implementation of programmes to prevent tobacco-related non-communicable diseases Programmes will also be taken to create awareness among farmers against tobacco cultivation and motivate them to cultivate alternative crops according to the policy According to the policy a Health Development Surcharge Management Committee headed by the health minister will supervise the proper use of the fund The National Tobacco Control Cell will provide secretarial support to the committee Fund from other sources such as possible imposition of any surcharge on products hazardous to health in future and donations from local and foreign sources will also be added to the fund it said The expenditures from the fund will be audited in line with the methodology followed for the other government agencies it said According to the Global Adult Tobacco Survey-2009 some 413 crore people or 43 per cent of the total population of Bangladesh consume tobacco products On the other hand 430 crore people are victims of indirect smoking According to the World Health Organisationrsquos 2004 data 57000 people die every year in Bangladesh suffering from tobacco-related diseases The government has taken an initiative to make the country smoking free by 2040 Source httpwwwnewagebdnetarticle28040govt-to-spend-fund-for-tobacco-control-measures-campaigns

STUDY BLAMES MOBILE HUNDI FOR FALLING REMITTANCES THRU BANKING CHANNEL A study of Bangladesh Institute of Bank Management on Thursday blamed Hundi through mobile financial services including bKash Rocket mCash and UCash for decreasing remittance through banking channel

Daily News Flash 12th November 2017

21

The study conducted by a six-member team identified distance of bank branches delay in receiving money misconduct by bankers submission of various documents weekly holidays of banks and illegal immigrants as the reasons for increasing remittance inflow through mobile Hundi The six-member team headed by BIBM director Shah Md Ahsan Habib presented the study at the seminar presided over by BIBM director general Toufic Ahmad Choudhury held in the auditorium of the institute in the city lsquoIn Bangladesh remittances declined by an estimated 111 per cent in 2016 in the face of lower oil prices and fiscal tightening in the GCC countries Among other reasons use of Illegal channel by the expatriates is doing harm to our countryrsquo Bangladesh Bank deputy governor Shitangshu Kumar Sur Chowdhury said He said that it would not be possible to stop Hundi totally but BB is working to check the transactions through the illegal channel To ease the formal channel BB has reduced the security deposit requirement for the exchange houses abroad to make arrangements for remittances with local banks Shitangshu said The BB deputy governor hoped that Non-Resident Bangladeshis would come forward to know the importance of their money to be sent through banking channels BB former executive director Yasin Ali said that national economy was being hindered due to remittance inflow through illegal channels He suggested using mobile banking facilities for remittance inflow saying that the area of mobile banking expanded many fold in last five years Helal Ahmed Chowdhury former managing director of Pubali Bank suggested bankers to be courteous with bank customers Source httpwwwnewagebdnetarticle28041study-blames-mobile-hundi-for-falling-remittances-thru-banking-channel

POLICY SUPPORT MUST TO DIVERSIFY EXPORT BASKET Speakers on Thursday said that in order to diversify the countryrsquos export basket export-oriented businesses should be given the policy support that has proved highly successful in bringing vibrancy to the countryrsquos RMG sector They were speaking at a workshop styled ldquoExport Diversification Challenges and Prioritiesrdquo organised by Bangladesh Enterprise Institute (BEI) in the auditorium of International Finance Investment and Commerce Bank in Dhaka Dr Mohammad A Razzaque former head of International Trade Policy at Commonwealth Secretariat in London presented a keynote paper in the programme chaired by Salman F Rahman private sector development advisor to Awami League President and Prime Minister Sheikh Hasina Skill development measures may also play a vital part in this regard Salman said export diversification would be possible only when adequate and appropriate policy support is provided to all export-oriented industries Dr Razzaque in his keynote paper suggested revamping and deepening policy support such as providing cash assistance and bonded warehouse facilities to all such industries to improve their export competitiveness He also highlighted the need for further expanding Bangladeshrsquos export basket as its penetration into global export markets in the last decade was very insignificant Eminent economist Prof Wahiduddin Mahmud said ldquoIn addition to providing subsidies and cash incentives to thriving and promising sectors on a long-term basis the government should take measures to strengthen the countryrsquos manufacturing baserdquo

Daily News Flash 12th November 2017

22

Shafiul Islam Mohiuddin president of the Federation of Bangladesh Chambers of Commerce and Industry said the governmentrsquos support is a must to create a strong manufacturing base for export diversification ldquoSkill development measures may also play a vital part in this regardrdquo Addressing the event as the chief guest Commerce Minister Tofail Ahmed said export diversification depends on businessmenrsquos initiatives He however pledged all necessary support from the government for export diversification to meet the countryrsquos $60 billion export target by 2021 BEI President Farooq Sobhan emphasised engaging the private sector in relevant policy discourses to achieve the target ldquoA private sector-oriented policy mechanism is very important as rapid changes are taking place in the global trade landscape Understanding implications and generating timely policy responses to unfolding developments will be meaningful only when the private sector is able to benefit from themrdquo said Sobhan Among others Mustafizur Rahman a fellow at the Centre for Policy Dialogue Kazi M Aminul Islam executive chairman of Bangladesh Investment Development Authority Bijoy Bhattacharjee vice chairman of Bangladesh Export Promotion Bureau and Md Nojibur Rahman chairman of the National Board of Revenue also spoke Source httpwwwdhakatribunecombusinesseconomy20171109policy-support-must-diversify-export-basket

BANKS LACK REMEDIAL STRATEGY WHILE NPL RISES WORRYINGLY Some of Bangladeshs banks dont have in-depth look into the problem of spiraling non-performing loans (NPL) while many others try to frame remedial strategies perfunctorily Such observations came out from studies on banking as well as financial sector at large as the NPL surge worries many quarters One finding shows that around 11 per cent of the countrys banks did not have an in-depth look into the issue of NPLs in the past year despite a growing concern over the problem in the financial arena The recent industry-wide survey also revealed that around 30 per cent of the countrys banks had not assessed their past NPL-reduction strategies at all while 36 per cent did so only on an ad-hoc basis The findings came out from the survey of the Chief Risk Officers at the banks on issues concerning NPL strategy in their institutions Leading banking research and training institution Bangladesh Institute of Bank Management (BIBM) conducted the study The research findings come at a time when the ballooning NPLs is becoming a major issue with the countrys banking industry and also triggering concerns and criticisms As per the central bank data the volume of NPLs had increased by more than 21 per cent to Tk 62172 billion by the end of 2016 swelling from Tk 51371 billion a year before The findings are genuinely surprising as we are struggling to find a bank for which NPL is not an issue in some capacity said Sazib Azad Senior Advisor of BIBM who led the research initiative Furthermore if the bank itself is immune to the impact of NPL even then they need to consider whether they are immune from structural or market-level impacts as well he told the FE However relevant survey results show the potential lack of such considerations as only 10 per cent of bank CROs taking part in the survey said that their banks are addressing potential dependence on market assessment and strategy What is more surprising is that the NPL strategies of around 62 per cent of the banks are not signed off by the boards the survey found

Daily News Flash 12th November 2017

23

This is quite striking because given the severity of the non-performing-loan issue the NPL strategy should be signed off by the boards Mr Azad said adding Boards are not only accountable for the health of the banks but are also in position to release resources to get to grips with the issue In addition the survey result also revealed 31 per cent of the banks not communicating their NPL strategy across the bank NPL as an issue needs to be addressed from ground up But the results show that this is not happening at our banks said an expert who was involved with research Meanwhile 25 per cent of the CROs said they were not tracking the implementation and effectiveness of NPL strategy in their banks- something which according to experts is a cause of concern Given how critical an issue NPL exposure is we would expect every CRO to track how the NPL strategy is being implemented its effectiveness and how to improve matters to the Board Risk Committee and the Board the banking experts said Meanwhile the survey results also found that although 94 per cent of the banks had stress-tested their balance sheet in terms of NPL drag this figure drops to 56 per cent while considering the impact to and from the wider economy market and structural aspects It seems that 33 per cent of the banks do not formally consider this aspect with a further 11 per cent not looking at this dimension at all the researchers said Experts also noted that with Basel 3 farther putting capital under pressure sensible banks should dynamically model the impact of key risks to their capital However the survey results show 17 per cent of the banks are not doing so while 31 per cent doing it in a limited manner Asked whether their banks risk-appetite-statement metrics reflected their NPL strategy 36 per cent of the respondents said they do so in a limited capacity while a further 80 per cent are not doing that at all It was also found that 25 per cent of the C-Suites have specific NPL-strategy-related targets while 31 per cent of the CROs have the same Meanwhile when asked whether they consider their NPL strategy to be embedded just over half of them or 52 per cent of the survey participants said Yes This according to experts is clearly not fit for purpose given the severity of the NPL issue facing the banking sector The first step in looking into the NPL issue is to assess internal capabilities to effectively manage NPLs Next external conditions or operating environment needs to be considered Finally the capital implications of the NPL strategy need to be analyzed said Sajib Azad The findings of the survey will be shared with the stakeholders during the next CRO forum of BIBM expected to take place next month where the issue of Risk Culture will also figure high The biggest reason for the swelling of NPL in our banking sector is a lack of good governance To check the ballooning of NPL the internal governance of the banks has to be strengthened above all Director-General of BIBM Toufic Ahmad Choudhury said Meanwhile the survey also found banks tending to consider time-horizon portfolio segment and exposure-level-based targets to be broadly equally important to their NPL strategy In terms of options preferred for reducing NPL banks consider change of exposure type to be most effective (36 per cent) followed by active portfolio reductions (33 per cent) and hold forbearance (31 pe rcent) Source httptodaythefinancialexpresscombdfirst-pagebanks-lack-remedial-strategy-while-npl-rises-worryingly-1510417700

GOVT SEEKS US$183B UNDER 39TH JAPANESE ODA PACKAGE The government has sought around US$183 billion worth of assistance from Japan for bankrolling six development projects officials said Saturday

Daily News Flash 12th November 2017

24

Officials at the Ministry of Finance (MoF) said they have already discussed the issue with the Japan International Cooperation Agency (JICA) We are hopeful of receiving funds under its upcoming 39th Official Development Assistance (ODA) package to finance six development projects a senior MoF official told the FE He said a JICA mission in September-October last completed its visit to Bangladesh to explore the possibilities of financing the proposed projects We are hopeful of signing the 39th ODA package with JICA within a couple of months he said After signing the loan deal the largest bilateral donor will start disbursement of funds from the proposed $183 billion aid package for the six development projects the MoF official added The proposed six projects under the 39th ODA package are Matarbari port development Dhaka MRT line-6 construction (phase-III) Dhaka MRT line -5 feasibility study Matarbari ultra super critical coal-fired power plant (phase-IV) Jamuna Railway Bridge construction and Health service strengthening project A senior official of Economic Relations Division said the proposed 39th ODA package will be very useful for Bangladesh as it will be utilised to develop the Matarbari port ongoing Matarbari power plant project conduct feasibility study and detailed design of the MRT line-5 in Dhaka and to construct railway bridge over the River Jamuna All of these projects are very important for the country to ensure smooth transportation and uninterrupted power supply he added Japan is the largest bilateral development partner of Bangladesh Over last 5-6 years it has enhanced its aid with confirmation of more than US$10 billion worth of funds under each of the aid packages In the last 38th ODA package signed in June 2017 JICA provided Yen 178223 billion ($164 billion) for utilising in six development projects on transport infrastructure power and water sector improvement works In June 2016 Japan signed the 37th ODA deal worth $150 billion (17354 billion Japanese Yen) with Bangladesh and in December 2015 it inked the 36th ODA package confirming $12 billion concessional loan for six development projects Under the last 38th ODA package JICA offered $700 million (Yen 76825 billion) for Hazrat Shahjalal International Airport Expansion project $480 million (Yen 5273 billion) for 2nd Kanchpur Meghna and Gumti bridges construction $50 million (Yen 5593 billion) for Dhaka Mass Rapid Transit development project (Line 1) $100 million (Yen 10745 billion) for Matarbari ultra super critical coal-fired power plant $190 million (Yen 20477 billion) for Dhaka underground substation construction project and $110 million (Yen 11853 billion) loan for small scale water resources development project Japan has so far provided Bangladesh with nearly US$12 billion in assistance since the financial year (FY) 1971-72 Source httptodaythefinancialexpresscombdfirst-pagegovt-seeks-us183b-under-39th-japanese-oda-package-1510417739

SUMMIT GROUP ENTITIES TO ISSUE PREFERENCE SHARES WORTH $1250M A subscription closing ceremony to raise capital through issuance of preference shares worth BDT 1000 million (USD 1250 million) for Summit Barisal Power Limited amp Summit Narayanganj Power Unit II Limited was held recently at Pan Pacific Sonargaon Dhaka said a statement LankaBangla Finance Limited acted as the Mandated Arranger LankaBangla Investments Limited acted as the Issue Manager and The City Bank Limited acted as the Agent Account Bank amp Custodian Bank to raise the fund In the event Mr Lt Gen (Retd) Engr Abdul Wadud Managing Director of Summit Barisal Power Limited amp Summit Narayanganj Power Unit II Limited Mr Khwaja Shahriar Managing Director amp

Daily News Flash 12th November 2017

25

CEO of LankaBangla Finance Limited Mr Mohammed Nasir Uddin Chowdhury Managing Director of LankaBangla Capital Market Operations Mr Mominul Islam Managing Director amp CEO of IPDC Finance Limited Mr R Q M Forkan Managing Director amp CEO of Bangladesh Commerce Bank Limited Mr Faruq M Ahmed Additional Managing Director of Trust Bank Limited Mr Akthar Hamid Khan Deputy Managing Director of Pubali Bank Limited Mr Arif Hasan Khan Vice President of Modhumoti Bank Limited Mr Mohammad Ibrahim Khalil FCA Vice President amp CFO of Bank Asia Limited and Mr Mahbub Jamil Vice President and Head of Structured Finance of The City Bank Limited along with other senior officials from the companies were present Source httptodaythefinancialexpresscombdstock-corporatesummit-group-entities-to-issue-preference-shares-worth-1250m-1510411878

BMBA URGES MUHITH TO EXEMPT INVESTMENTS BY MF SPONSORS Bangladesh Merchant Bankers Association (BMBA) has urged the finance minister to exclude some components including sponsors investments in mutual funds (MFs) from the banks exposure to the capital market It made the request for ensuring an environment conducive to gradual development of the capital market according to a proposal submitted to Finance Minister AMA Muhith last week The BMBA said the long-term or strategic investments needed to be excluded while calculating the exposure as these investments were not intended for frequent trading Non-convertible preference shares and non-listed securities also need to be excluded from the capital market exposure as it will never influence the capital market volatility it said in a letter to the minister According to the letter the MFs are passive investments where investors themselves are not involved in investment decision making and such fund portfolios are mostly of long-term nature than frequent trading On the other hand the sponsors of the MFs need to hold 10 per cent of the investment until liquidation of the fund So considering the fact the sponsors portions in MFs need to be excluded from the banks capital exposure said the BMBA proposal As per the Banking Act 1991 it said reporting requirement is on solo basis but the central bank has introduced consolidated calculation which is of dual effectdouble counting in the market exposure This kind of restrictive measure creates panic situation in the market and may hinder the potentials and prospects of the capital market as a whole the BMBA said It also said that this kind of practice needed to be stopped as such requirements and reporting practice would further squeeze the market and that the investors would lose their interest The BMBA said some organisations have invested on strategic purpose and were holding positions in the board and their exposure increased with rising the market price of MF units On the other hand in compliance with the securities rules they are unable to sell shares to reduce exposure the BMBA said terming the situation complicated In its letter the BMBA said that the capital market exposure of some banks and financial institutions increased without fresh investments following the upward trend of the market price as the exposure is calculated on the basis of market price If the banks need to go for selling off their excess exposure this will create unnecessary selling pressure on the market said the BMBA The association requested the finance minister to consider their proposal to facilitate the growth of the capital market by its own strength and prospect Source httptodaythefinancialexpresscombdstock-corporatebmba-urges-muhith-to-exempt-investments-by-mf-sponsors-1510411950

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ATIUR STRESSES ROLE OF REGULATORS IN DIGITAL FINANCIAL INCLUSION Former Bangladesh Bank Governor Dr Atiur Rahman chairs a session at the 5th Biennial Competition Regulation and Development Conference at Jaipur in India on Thursday Success of digital financial inclusion depends on the prudent role of the regulating bodies to a great extent And the recent progress in Bangladesh in this regard is a good example for the rest of the world to follow said Dr Atiur Rahman former governor of Bangladesh Bank says a statement He was chairing a session at the 5th Biennial Competition Regulation and Development Conference at Jaipur India on Thursday The three-day conference is being hosted by CUTS International and OECD Speakers of the session included Ravinder S Aurora Senior Vice President of Mastercard David Ongolo Kenyan Competition Authority and Dr A K EnamulHaque Professor of East West University Dhaka Many developing countries survived and even thrived during the last global financial crisis because they chose to follow a broad-based financial inclusion strategy And digital solutions played a crucial role in this financial inclusion drive said Dr Rahman He added that service providers must focus on reaching out to the customers in the rural socio-economic conditions Dr Rahman said that experience from Bangladesh can answer many of the burning questions regarding digital financial inclusion The central bank of the country has facilitated bank-led digitisation drive Be it Mobile Financial Service or be it Agent Banking the Bangladesh Bank has encouraged traditional players (ie the commercial banks) to lead the way And it has been proven to be very successful He also said that the world is witnessing only the beginning of the digital finance revolution Hence we must learn from all these experiments share our experiences and know-hows Only then we can work towards shaping global standards and practices Dr Rahman finally asked all central banks to be more proactive and collaborative with other stakeholders including non-traditional financial service providers to facilitate orderly development of digital financial inclusion so that consumers interests are better protected The grievance redressal mechanism developed in Bangladesh Bank with infusion of state of the art technology to gain trust of the customers in financial inclusion was also discussed widely in the session The panelists highly appreciated Bangladeshs regulatory move with public interest in mind using latest technology for replicable digital financial inclusion Source httptodaythefinancialexpresscombdtrade-marketatiur-stresses-role-of-regulators-in-digital-financial-inclusion-1510416319

FAO FEARS NEGATIVE BD FOOD OUTPUT GROWTH ON FLOODING Recent flooding has dampened the outlook for Bangladesh a likely third successive season of little or negative food production growth mainly rice reports UNB quoting FAO Barring major setbacks production recoveries could instead permit Bangladesh and Sri Lanka to slightly lower their 2018 imports to 11 million and 450 000 tonnes respectively according to the latest Food Outlook published by the UN Food and Agriculture Organisation (FAO) Among other rice importers Bangladesh Iraq Nigeria and the Philippines are all similarly predicted to replenish their inventories according to the report a copy of which obtained by the news agency These gains are however likely to be offset by stock reductions in the Republic of Korea Madagascar Sri Lanka and the United Republic of Tanzania all linked to output shortfalls Although the use of rice as animal feed is being sustained by the release of supplies from government granaries in Japan the Republic of Korea and Thailand more affordable feedstuffs are expected to displace rice in most other countries especially in Bangladesh China (Mainland) and Vietnam

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Since the previous Food Outlook report a series of unfavourable climate-related events have affected main paddy crops in the Northern Hemisphere which have now reached the harvesting stage This has been the case in Asia where unlike 2016 the critical Northern Hemisphere summer months were characterised by mixed growing conditions that inhibited planting expansions As a result FAOs latest forecast of world rice production in 2017 points to a broadly stable output level of 5008 million tonnes Production in Asia is now forecast to fall 550 000 tonnes below the 2016 bumper harvest to 4525 million tonnes The UN agriculture agency has said the cost of importing food is rising in 2017 driven by increased international demand for most food stuffs as well as higher freight charges The cost of importing food is forecast to rise six per cent in 2017 to $1413 trillion making it the second highest bill on record while food commodity prices have been generally stable according to the latest Food Outlook that expressed concern about the economic and social impact of this trend on poor countries Although weather disruptions are set to stall production growth this season global rice supplies are still forecast to exceed utilisation enabling a small expansion of world rice inventories Global trade is expected to rise only modestly in 2018 after staging an 8 per cent recovery in 2017 The food import bills are set to increase by double-digit rates for least-developed countries (LDCs) and low-income food-deficit countries Aromatic rice varieties have risen eight times faster than the FAO All Rice Index which is up four per cent on the year However the higher import costs come at a time when inventories are robust harvest forecasts are strong and food commodity markets remain well supplied The export of tropical fruits is promising for poverty relief and rural development as almost all production takes place in developing countries The export volumes of mango pineapple avocado and papayas are on course to achieve a total combined value of $10 billion this year according to the Food Outlook Source httptodaythefinancialexpresscombdfirst-pagefao-fears-negative-bd-food-output-growth-on-flooding-1510336161date=11-11-2017

STOCKS NUDGE HIGHER AS BANK TELECOM ISSUES SURGE Stocks extended the winning streak for the two consecutive weeks that ended Thursday as enthusiastic investors continued their buying appetite on bank and telecommunication issues Market operators said the positive momentum in some large-cap issues especially from banking telecom pharmaceuticals and food amp allied sectors helped the bourse to stay upbeat The banking sector posted the highest return of 445 per cent as 27 out of 30 listed banks ticked higher Four banks gained more than 10 per cent each The telecom sector also surged 342 per cent as Grameenphone the countrys largest market-cap listed companys shares price jumped 40 per cent to close at Tk 45690 each The market extended the winning streak riding on heavyweight bank and telecom issues said an analyst at a leading brokerage firm The week featured five trading sessions as usual Of them first session saw marginal correction while last four closed higher Week-on-week DSEX the prime index of the Dhaka Stock Exchange (DSE) jacked up by 9454 points or 155 per cent to finish at 6193 The two other indices -- the DS30 index and the DSE Shariah Index (DSES) - also closed higher at 2244 and 1341 points

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Both the indices added 4264 points and 1218 points respectively During the week banking pharmaceuticals and telecommunication sector stocks contributed more to keep the market up commented City Bank Capital Resources a merchant bank in its weekly analysis The port city bourse Chittagong Stock Exchange (CSE) also ended higher The CSCX advanced 180 points or 156 per cent to finish at 11618 International Leasing Securities a stockbroker noted that the market observed an upbeat vibe throughout the week riding on the news of soaring of net foreign investment in the capital market in the first 10 months of 2017 compared to the same period of last year Net position of foreign portfolio with the DSE stood at Tk 1623 billion in January-October compared to Tk 80 billion in the same period a year ago However some investors were reshuffling their portfolios after observing the year-end corporate declarations and first quarter earning disclosures the stockbroker added According to EBL Securities The market witnessed an upbeat tune throughout the week riding on regained confidence among the market participants The stockbroker noted that preferable year-end and quarter-end earnings declarations by several companies helped them to remain positive about market The total turnover for the week amounted to Tk 3591 billion on the DSE which was Tk 3027 billion in the week before The daily turnover averaged Tk 718 billion which was nearly 19 per cent higher than the previous weeks average of Tk 605 billion Block trade accounted for 16 per cent of the total weekly turnover where stocks like BATBC Beximco Pharma Shahjalal Islami Bank Square Pharma and Singer Bangladesh dominated the block trade board Banking sector kept its dominance over the turnover chart grabbing 35 per cent of the weeks total transaction followed by engineering with 18 per cent and pharmaceuticals 11 per cent Out of 336 issues traded 207 closed lower 116 ended higher and 13 issues remained unchanged on the DSE trading floor during the week The market capitalisation of the DSE rose 137 per cent as it was Tk 4123 billion on the opening day of the week and it stood at Tk 4179 billion on closing day of the week City Bank topped the weeks turnover chart with 5390 million shares worth Tk 184 billion changing hands followed by IFAD Autos with Tk 121 billion Brac Bank Tk 10 billion LankaBangla Finance Tk 994 million and Dhaka Bank Tk 926 million Reckitt Benckiser was the weeks best performer posting a gain of 1925 per cent while Stylecraft was the weeks worst loser slumping by 3322 per cent A new issue - Oimex Electrode-- made debut last week and soared 1042 per cent from its offer price of Tk 10 in the first trading day on Monday Source httptodaythefinancialexpresscombdstock-corporatestocks-nudge-higher-as-bank-telecom-issues-surge-1510332934date=11-11-2017

BANGLADESH GROWING AS DENIM HUB The growing global demand for fashionable denim wear encouraged both local and foreign entrepreneurs to make fresh investment in Bangladesh participants and organisers of Bangladesh Denim Expo have said Many of the 30 local denim mills are going for expansion while a couple more will come into operation with fresh investment within next two or three years they said Some foreign companies are opening offices or setting up factories in Bangladesh they added The seventh edition of the two-day Bangladesh Denim Expo was held in the city recently with the theme transparency to highlight the need for transparency in the entire denim supply chain

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A total of 65 exhibitors from 12 countries participated in the show while more than 12 thousand visitors from across the world registered online to attend the two-day expo organisers said Talking to the FE on the sidelines of the expo Md Khalid Mosharof assistant general manager at Dekko Group said the group invested Tk 15 million in setting up a new factory of 44 lines at Ashulia that would go for denim item production in June next The main reason is to tap the growing global demand he said Echoing him Syeed Ahmed Chowdhury general manager operation at Square Denim said the company expanded its denim fabric production capacity to 30 million yards from the existing 15 million yards per month mainly to meet the demand He however opined that the expansion is taking place more in garment segments than in fabric production There is no alternative to expansion to sustain the existing business and achieve the $50 billion garment export earnings target by 2021 Sharif Zahir managing director of Ananta Group said stressing the need for positive branding of the sector Meanwhile Landes a German denim accessories maker started production in its new factory at Savar from this month It invested US $05 million We opened the factory in Bangladesh as we think this is the hub for denim business and there is a lot of business prospects here Manfred Slowik chief operating officer of Landes told the FE at his stall at the expo By the end of next year the total workforce in our new plant will be 120 people as we are recruiting new people from existing 30 Mr Slowik said Landes has a target to produce 500 million pieces of leather patches used in denim trousers as accessories in a year at its Savar plant from where such accessories will be supplied to the whole Asian region Many big brands like HampM VF and Walmart are their customers he said Nezahat Boni senior account manager of Orta a Turkish denim maker said her company supplies 30 million metres of denim fabrics in Bangladesh in a year against only 800 meters in 2011 We opened an office in Bangladesh in 2011 as we cannot ignore the importance of this country as a denim hub she said Prosperity Textile a Chinese company opened its office in Dhaka last year said Md Mujibul Hoque the companys Bangladesh Sales Director The company has targeted sale of 100 million yards a year across the globe while it also targets 30-40 per cent of their sales in Bangladesh Bangladesh is now the top denim products supplier to the European Union overtaking China and third largest to the US after China and Mexico industry people said Bangladesh supplies denim products to major global buyers and retailers including levis G-Star Raw HampM Tesco Wrangler Hugo Boss Walmart and Gap Source httptodaythefinancialexpresscombdtrade-marketbangladesh-growing-as-denim-hub-1510332061date=11-11-2017

EXPORTS UP 70PC IN JULY-OCTOBER Countrys export earnings grew by 703 per cent to US$1150 billion during first four months of the current fiscal year (FY 2017-18) according to official data released Thursday The earnings were $1079 billion in the same period (July-October) last FY In October 2017 the exports grew by 642 per cent to $284 billion the Export Promotion Bureau (EPB) data showed The overall exports in the first four months slightly (074 per cent) fell short of the periods target In October however the exports were 628 per cent higher than the months strategic target Readymade garment shipments fetched $943 billion marking 699 per cent growth during the period as compared to $882 billion in the same period of last FY

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The woven items registered 385 per cent growth in earnings to $445 billion than that of $428 billion in the same period of FY 2016-17 The earnings from knitwear export during the period grew by 995 per cent to $498 billion from $453 billion in the corresponding period of last FY Jute and jute goods exports rose by 1646 per cent to $34501 million from $29626 million in the same period of FY17 The earnings from agriculture products grew by 2022 per cent during the period while home textiles by 2037 per cent The earnings from leather and leather products however fell marginally by 002 per cent to $42844 million during the period than that of $42851 million in the same period last FY The export earnings from frozen food and live fish grew by 1541 per cent to $22691 million from $19661 million of the corresponding period of last fiscal Mahmud Hasan Khan vice president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) said the exports in the first four months of the current fiscal year fell short of the expected growth mainly because of failure in maintaining the lead time and short supply of gas and electricity Terming the knitwears growth satisfactory he said woven items manufacturers have been struggling to cope with the new challenge as buyers were reducing the volume of orders due to failure in meeting the lead time Without efficient port and strong backward linkage industry especially for the woven sub-sector it will be difficult for the sub-sector to bounce back he feared He pointed out that maximum of the woven fabric requirements were being met through imports But it was taking too much time to clear the imported fabrics and additional charges as a result at the Chittagong seaport that was facing unbearable congestion The government should provide necessary policy support to the exporters to establish strong backward linkage industry for the woven sub-sector he added Source httptodaythefinancialexpresscombdfirst-pageexports-up-70pc-in-july-october-1510248870date=10-11-2017

GAS CRISIS HURTING OUTPUT IN INDUSTRIAL BELT Factories in the countrys Tongi-Gazipur industrial belt have been facing acute gas crisis over the past few months following diversion of gas to upstream power plants The crisis has deteriorated further this week albeit some improvements for a few days last week said local industrialists and businessmen According to them if the ongoing gas crisis persists they may be forced to shut down their factories Officials of the Titas Gas Transmission and Distribution Company Limited (TGTDCL) however blamed the Petrobangla for the gas crunch Sources concerned say the industrial belt of Tongi-Gazipur is suffering badly for about four to five months from low pressure of gas coupled with poor electricity voltage -- often resulting in huge volume of industrial wastages and reduction of production efficiency According to the industry insiders a factory in the industrial belt requires 04 PSI (production per square inch) as optimum gas pressure but the pressure at times comes down to as low as 01 PSI these days -- especially during the daytime Gas pressure in the area becomes normal around 10pm11pm and stays for not more than 08 hours until 6am7am an entrepreneur of the industrial belt informed Asked an official of Titas said they are at present getting nearly 250 million cubic meters (MCM) less in recent weeks against their current demand of 1800 MCM gas in Titas franchise The downstream Titas franchise area covers greater Dhaka region which includes Gazipur alongside some other adjoining districts and greater Mymensingh he said

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A Petrobangla source however cited gas supply on priority basis to a number of upstream projects including power plants as reason behind supply shortage When asked Managing Director of Akij Group Sk Bashir Uddin termed the situation really worrisome According to him two of Akij Group companies situated in the area -- Akij Printing amp Packages Limited and Dhaka Tobacco Industries -- jointly contributed nearly Tk 35 billion (3500 crore) to the national exchequer in the 2016-17 fiscal year But were very much worried about our industrial output this year as production disruption following the twin crises involving gas supply and power supply Both will eventually disrupt our retail business in every phase he quipped This often results in a high rate of industrial wastage and reduction of production efficiency he added Bangladesh Auto Re-rolling Steel Mills amp Association Chairman Manwar Hossain who is also Anwar Group Managing Director echoed the same concern Factories in the industrial belt are now operating at one-third of their capacity which may lead to labour unrest and default of huge sum of bank loans he said Such disruption of production he cautions may even cause sudden shutdown of factories According to him none of the victims in that case will be the wilful defaulters -- they will be the victims of circumstances The businessman who has a steel factory called Anwar Ispat Limited in the industrial belt called for immediate introduction of ECM (electronically controlled meters) to check unabated gas engineering in the area which he deems to be yet another reason for gas supply crunch Titas officials according to him are encouraging co-generation scheme to help address the severe gas crisis But he said co-generation will require stable and smooth gas supply Government should ensure at least 10-15 years of smooth gas supply to encourage co-generation as what he said any industrial investment requires 20 years of payback period TGTDCL Deputy Managing Director Engineer Abdul Wahab Talukdar who is also the Project Director of Sripur-Joydevpur Transmission Pipeline Project said We cannot do anything to address the crisis if there is a lack of adequate gas supply Mentioning that all factories in the industrial belt are like my babies he unequivocally said Titas is not at fault He also admitted that priority-based power plants gas supply being the reason behind the current spell of gas crunch We have already started introducing electronic volumetric corrector (EVC) to stop illegal gas use in the area he said Factories he added should go for co-generation scheme for protecting their own interest Co-generation means utilising and absorbing heat generated from gas generators which Mr Wahab said will save energy A section of the businessmen however called for stopping fertiliser production and distributing the same among people at a subsidised price after importing it to facilitate smooth supply of gas to other industries Even if the government stops fertiliser production and opts for importing it for distribution at a subsidised rate there will only be an insignificant loss compared to the overall losses now being incurred said an industrialist who has more than one factory in the industrial belt Local sources said illegal and unapproved gas connections in various industries in and around the zone are also affecting gas supply badly among other reasons Source httptodaythefinancialexpresscombdfirst-pagegas-crisis-hurting-output-in-industrial-belt-1510249018date=10-11-2017

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SINGLE PERSON MAY FORM COMPANY A single person may form a commercial firm under a provision of the companies law being updated along with some other major business-stimulating measures Official sources said the government is considering incorporating some new provisions including one allowing individuals to form any company into the updated Companies Act The other provisions are formation of an appellate tribunal to resolve legal matters without wasting much time widespread automation of companies work and submission of annual company reports online Earlier the Ministry of Commerce (MoC) had received some recommendations from the stakeholders on how to update the law they added We got most of the recommendations from the stakeholders We hope we will be able to prepare the draft Companies Act within a month Md Obaidul Azam director trade organisations (DTO) told the FE He said the recommendations the ministry had received so far were being scrutinised before preparing a draft for updating the companies act Earlier different trade bodies had sent their respective recommendations to the MoC for incorporation into the law The MoC will hold a meeting with the countrys apex trade body after assessing the recommendations and suggestions the ministry official said Talking to the FE a leader of an influential trade body said they had sent some recommendationssuggestions to the MoC for the new Companies Act for betterment of the countrys trade and business According to Section 2 (1) (c) of the Companies Act 1994 Company means a company formed and registered under this Act or an existing company Thus a company is an association of persons formed under the Companies Act 1994 with a view to achieving some common objectives Though a company is regarded a legal person it possesses similar rights and owes similar obligations like a natural person Now any individual fulfilling the new criteria may be allowed to form a firm Source httptodaythefinancialexpresscombdfirst-pagesingle-person-may-form-company-1510249090date=10-11-2017

DSE TURNOVER CROSSES TK 80 BILLION MARK The daily turnover on Dhaka Stock Exchange (DSE) exceeded the Tk 80 billion mark on Thursday as investors took fresh exposure to the banking sector Turnover a crucial indicator of the market reached Tk 870 billion on the countrys premier bourse jumping 14 per cent from the previous days transaction of Tk 765 billion It was the biggest single-day transaction since October 11 when the turnover totalled a record Tk 1092 billion Along with rising turnover DSEX the prime index of the Dhaka bourse continued to keep its gaining momentum closing 3449 points higher at 6193 points DSEX which replaced the DGEN in nearly five years back added more than 121 points or 20 per cent in the past four consecutive sessions The two other indices -- the DS30 index and the DSE Shariah Index (DSES) -- also followed suit to end at 2244 and 1341 points after gaining 1422 points and 443 points respectively Brokers said the market maintained the bullish trend for the four straight sessions as the enthusiastic investors chased the banking sector stocks The market continued the bullish trend for the four consecutive sessions as the enthusiastic investors were active for the banking food and engineering sector stocks commented EBL Securities a stockbroker in its regular market analysis

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It noted that the core index remained positive throughout the session as optimistic investors kept buying sector-wise stocks while some rebalanced their portfolios Meanwhile share price of newly listed Oimex Electrode continued to decline for the three consecutive sessions after unusual hike during its debut trading on Monday The companys share price fell 763 per cent to close at Tk 9810 on Thursday after jumping more than tenfold during the debut trading which experts termed unusual Block trade contributed Tk 241 million to the days total turnover with stocks like BATBC Square Pharmaceuticals Singer Bangladesh and Beximco Pharma dominating the block trade board Among the major sectors pharmaceuticals posted the highest gain of 122 per cent followed by banking sector (083 per cent) food amp allied (067 per cent) engineering (033 per cent) financial institutions (003 per cent) and power (003 per cent) Only telecommunication sector faced a 045 per cent correction A total number of 0140 million trades were executed in the days trading session with trading volume totalling 23171 million securities The total market capitalisation of the DSE stood at Tk 4179 billion against Tk 4168 billion in the previous session Losers however took a modest lead over the gainers as out of 325 issues traded 140 closed lower 130 closed higher and 55 remained unchanged on the DSE trading floor City Bank dominated the turnover chart for the second day in a row with 1035 million shares changing hands closely followed by Dhaka Bank LankaBangla Finance Brac Bank and Keya Cosmetics Reckitt Benckiser was also the days best performer posting a gain of 624 per cent while Qasem Drycells was the days biggest loser shedding 1235 per cent The port city bourse Chittagong Stock Exchange (CSE) also ended higher with its Selective Categories Index -- CSCX --gaining more than 62 points to close at 11618 Losers beat gainers as 113 issues closed lower 97 closed higher and 37 remained unchanged on the CSE The port city bourse traded 1604 million shares and mutual fund units generating a turnover of Tk 483 million Source httptodaythefinancialexpresscombdstock-corporatedse-turnover-crosses-tk-80-billion-mark-1510245247date=10-11-2017

TEN COS GRAB 32PC TURNOVER ON DSE The banking sector continued to dominate the transaction chart of the Dhaka Stock Exchange (DSE) accounting for 39 per cent of the total turnover on Thursday Four banks made their way to the top 10 turnover chart with City Bank leading the chart for the second day in a row Brokers said the investors chased the banking sector issues as more than 63 per cent of listed banks showed positive earnings in the third quarter (July-September period) Meanwhile top 10 traded companies including four banks grabbed more than 32 per cent of turnover on the Dhaka bourse The total turnover on the premier bourse reached Tk 870 billion up 14 per cent from the previous days Tk 765 billion The most active shares in terms of value included City Bank Dhaka Bank LankaBangla Finance Brac Bank Keya Cosmetics Square Pharmaceuticals Beximco Pharmaceuticals IFAD Autos Exim Bank and IDLC Finance According to statistics available with the DSE about 1035 million shares of City Bank were traded generating a turnover of Tk 553 million or 635 per cent of the total transactions

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The companys share price hovered between Tk 5240 and Tk 5440 before closing at Tk 5390 advancing 228 per cent over the previous session Dhaka Bank came in next with shares of Tk 395 million changing hands contributing 454 per cent to the total turnover The banks share price closed 347 per cent higher at Tk 2380 LankaBangla notched the third spot with shares of Tk 266 million changing hands making up 305 per cent of the total turnover Its share price ended 063 per cent higher at Tk 6430 Brac Bank emerged the fourth with shares of Tk 257 million changing hands grabbing 295 per cent of the total turnover The banks share price settled 123 per cent higher at Tk 107 Keya Cosmetics featured a turnover of Tk 247 million or 284 per cent of the total turnover Its share price closed 201 per cent higher at Tk 1520 The turnover of Square Pharma was Tk 241 million or 276 per cent of the total transaction Its share price ended 612 per cent down at Tk 27890 Beximco Pharma featured a turnover of Tk 211 million or 242 per cent of the total turnover Its share price advanced 428 per cent to close at Tk 10960 The turnover of IFAD was Tk 208 million accounting for 238 per cent of the total turnover Its share price closed at Tk 14070 gaining 195 per cent Exim Bank featured a turnover of Tk 196 million or 225 per cent of the total transaction The banks share price inched up 055 per cent to close at Tk 1830 IDLC also made its way to the top ten turnover chart with shares of Tk 188 million changing hands Its share price closed 223 per cent higher at Tk 9150 Source httptodaythefinancialexpresscombdstock-corporateten-cos-grab-32pc-turnover-on-dse-1510245290date=10-11-2017

FOREIGN INVESTMENT HIKE INFO DRIVES MODERATE GAINS ON DSE The Dhaka bourse Thursday closed the session posting a moderate rise in the broad index and turnover amid mixed performance displayed by major sectors On the day most of the major sectors declined but the turnover crossed Tk 80 billion-mark after two sessions on Dhaka Stock Exchange (DSE) mainly because of investors increased participation in the banking sector According to a market review of International Leasing Securities positive momentum in some big-cap stocks especially from bank food and engineering sectors helped the bourse to close in green The market started the session with a positive note and the DSE broad index DSEX witnessed little ups and downs before closing higher According to AT Capital Partners the market remained sideways till the midsession The DSEX rose again in the second half of the session and closed at 61936 up by 345 points The shariah based index DSES and blue chip index DS30 also rose marginally The turnover stood at above Tk 870 billion which was 1370 per cent higher than the turnover of the previous session The confident drive was initiated by the investors buying spree riding on the news of doubling net foreign investment in stocks year-on-year in the first ten months of 2017 said the International Leasing SecuritiesAmong the gaining sectors bank advanced 08 per cent and engineering 03 per cent Of the losing sectors pharmaceuticals amp chemicals declined 11 per cent telecommunication 05 per cent and textiles 09 per cent The banking sector grabbed 384 per cent of the market turnover at the premier bourse DSECity Bank topped the turnover chart with a value of Tk 553 million followed by Dhaka Bank LankaBangla Finance BRAC Bank and Keya CosmeticsReckitt Benckiser (Bd) limited topped the gainers chart with a rise of 624 per cent to close at Tk 18456 while Quasem Drycells was the worst loser after declining 1235 per cent to close at Tk 8230 Source httptodaythefinancialexpresscombdstock-corporateforeign-investment-hike-info-drives-moderate-gains-on-dse-1510245365date=10-11-2017

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MORE JAPANESE COMPANIES SEEK TO INVEST IN BANGLADESH Japanese Ambassador to Bangladesh Hiroyasu Izumi has said the Japanese investors are keen to invest in Bangladesh considering the lucrative offer and ideal atmosphere for foreign investment reports BSS The Japanese investors expressed more interest to invest in Bangladesh at recently-held the third round of Public-Private Economic Dialogue between Bangladesh and Japan he said while visiting the Chittagong Export Processing Zone (CEPZ) on Thursday The envoy expressed the hopes that Japanese investment in the Export Processing Zones (EPZs) will increase after the successful dialogue said a press release More and more Japanese companies will come to invest in this country he added General Manager of CEPZ Khorshid Alam maed a PowerPoint presentation highlighting the overall scenario of EPZ as well as Bangladesh Export Processing Zone Authority (BEPZA) Mentioning Bangladesh EPZs as the Bonanza for Investors he said investors from 38 countries have set up industries in the EPZs and invested US $442 billion He informed the ambassador that BEPZA has ensured three layer security system including 24-hour CCTV surveillance in the key points of EPZ and factory premises for the safety of the investors Source httptodaythefinancialexpresscombdtrade-marketmore-japanese-companies-seek-to-invest-in-bangladesh-1510250285date=10-11-2017

Source httpwwwarthosuchakcomarchives388209

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ও ১৭ ১২ ঋ ও

১০ ও ৩ ১০

৩০ ২০১৬ ৩৫ ৬৩

৫ ( ) ৩ ৪৯

Daily News Flash 12th November 2017

37

Source httpwwwarthosuchakcomarchives387762

lsquo rsquo

( )

lsquo - rsquo

( ) ও

২০০২ ( ২ )

৫৪৬

ও ১৫

ও ১৫ ৭৫ ও

১০-১২ ১

১৫৫ ৬৭

ও ২০১০

ও ও ও -

ঋ ঋ

১৫ ৪ ৩

২ ২ ৪ ১৫ ৬

( )

Source httpwwwarthosuchakcomarchives388276

- ও ও

Daily News Flash 12th November 2017

38

৩৮ ও ৪৩

১০০ ৬১ ৫৮ ২২৫ ১ ০৫

Source httpwwwarthosuchakcomarchives387849

- ও ( -২)

৬ ও

ও ৫ ৩০০

ও ও

৭ ২০০

( ও )

ও ও

ও ও

২ - ও mdashlsquo

rsquo ও

-

৫ ৩০০

- ১০ - ৪২৯ -

৩২৮

- ১০

( )

২০১৪

( ও) ও ( )

( )

২ ও ও

ও ও ও

ও ২০১১- ও

ও ( )

Daily News Flash 12th November 2017

39

(১০ ) ৫ ৭৬৩

৬৩ ও

ও ( )

- ২০১৪ ও

ও ও

Source httpwwwprothom-alocomeconomyarticle1362971

ও ও

ও - ও

২০১৬-১৭ ২০ ও

ও ও lsquo rsquo

ও ১০ ও

৭৭ ২০১৭

১৬ ২৭ ও

২০১৬-২০১৭ ২০ lsquo rsquo

ও-

ও ও ও

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564382

ফ ( ও) ১১

ও ও

ও lsquo১১ ও rsquo

১০ ১৩

( ) ( )

Daily News Flash 12th November 2017

40

- ও

-

( )

( )

lsquo ও

rsquo ও

২৬ ১০

১৬

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564383

১ ৫০

ও ২০৫০

২৩

১৬ ৫৯ ২০১১

২০৩০

( )

ঋ ও ও

৬৮ ৬৭

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564384

ফ lsquo

ও ও

( ) ও

- ও

( ও ) ( )

Daily News Flash 12th November 2017

41

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564388

৪৫ ও

৮৪ ৮৩

৯২০

২৭ ২৪ ৭ ৩

৬ ৮৯

৯ ১ ৭২ ১৪ ৪৮

৪৫

ও ১৭ ৫০

১৯৩ ১০ ২০১৫-১৬ ৪১৩ ১০ ও ও

২০১৪-১৫ ৩৭৫ ৮০ ৩৫ ৭০

২০১৩-১৪ ৫১৫ ও

৮১ ২ ৫১ ৩ ২০

২ ও

৮৪

৮১

- ও

৮৩

৮২ ৯৫

ও ও - ও

ও ও ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17112200 - - - -

ও ৫০

ও ( ) ( )

ও ও

Daily News Flash 12th November 2017

42

ও ও

১০০

৮ ও

৩০০ ( )

ও ১৫০

২০০ ১০০

২০০

২৭ ৭

ও ও

ও ৩০ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111811 - - - -

-

২৭ ১১

১০

( ) ২৮৪

৬ ২৮ ৭ ১৫১

৭৪

ও - ও

ও - ও

ও ৩

৭ ১ ২৩

৯৪৪ ৮৮২ ১০

ও ৪ ৭ ও

৪ ৩৮ ও ১৫ ৪১ ২২ ৭০

২০ ৩৬ ১৩ ও

৪৬ ২২ ২০ ও

১৭ ৩৭১ ও ও

১৭ ও ৪৩ ও

Daily News Flash 12th November 2017

43

৬ ২০ ও ১৬

৩৫ ২০ ২৭

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111810 - - - - -

ও ও

১৩০ ও ১৪০

৫৫ ও ৯৭ ১১৩

৩৭

৩৪

৬১৯৩ ৬২ ১১৬১৭

৩০ ১৯

ও ও

ও - ও

৪৮ ৩১

১২ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111808 - - - - -

৩৫ ও ১০

ও ( ) ও

১০

ও ও -

২ ৩০০

২০১৪ ও

ও ৭ ২০১৪ ও ২০১৫

৫ ৭ ও ১২ ৮ ২৩

২০১৩ ১ ৪২০ ২০১৪ ১০ ৫ ১ ৫৭০

১৩ ৪ ও ১ ৩৫৮ ১০

২০১৬ ও ৩ ৫ ১ ৩১০ ২০১৪

২০১৬ mdash ২ ১ ঋ

১০ ও ২০১৩

২৯ ৮০ ২০১৪ ৫ ৭ ৩১ ৫০ ২০১৫

১২ ৩৫ ৩০ ২০১৬ ৭ ৩৭ ৮০

Daily News Flash 12th November 2017

44

২০১৪ ২০১৬

৩২ ৩৫ ও ৫০ ১৯

৫৬

১৭ ৪৬ ২০১৪ ২০১৬

৭২ ১০০ ও ১১১

২০১৪ ২০১৬ ১৫ ৬৩

৯১ ১১৪ ও ১১৮ ৮ ২৩

৮০ ৯০ ও

ও -

ও -

ও ও ও

১০ ও

১০ ও ২২

৭১ ১২ ৪২

৩২ ২৬ ও

ও ও

( ) ও

ও ২০২১ ও ও

৫ ১ ১৬

ও ও

Source httpbonikbartanetbanglanews2017-11-12137992 - - -- -

৫০০ ৫০০ ও

ও ৩০ ২০১৭

৫০০ ও ঋ ২০১৮

৩০

১ ২০ ও ১৫০

১১

Daily News Flash 12th November 2017

45

৩০০ ৬০০

( ) ও

১ ২৫ ও ১০

১০ ও

ঋ ও

৩০ ২০১৭ ৩ ও ১২ ও

( ) ২ ১৪ ২ ১

ও ৩০ ১১

( ) ও ও

( - ) ৬৬ ৫৫ ৩০

( ) ৩৪ ৯০

ও ও ও

( ) ও

ও ও ২০১৫ ৩০ ১০ ২০১৬

১২

( ) ৪১ ২০ ও ২৩ ৬০

৫০ ও

২০১৪ ৩০০ ও ১৪৮ ৪৬ ৫০

১৯১ ৬২ ৩৭ ৩১

১২ ৪৫ ৫০ ২৪

ও ( ) ১৬ ৫৩

ও ১৫ ২২

Source httpbonikbartanetbanglanews2017-11-12137966৫০০- - - - -ও -

৬৩

- ও ও

৬২ ৯৪ ৫

৬২

৯০

২০১৪ - -

- ও

২০১৬-১৭ ৫ ৬২ ও ২০১৩-১৪

১২

( ) ৯০

-

ও - - ও -

Daily News Flash 12th November 2017

46

- ও

৬২ ৯৪

২০১৩-১৪ ৭০ ৭৮ ২০১৪-১৫ ৫৪ ২২

২০১৫-১৬ ৩৯ ৩৩ ও ২৬ ২৩

ও ২০১৩-১৪

১২ ৩৬ ২০১৪-১৫ ৫ ৯১ ও ২০১৫-

১৬ ১৭ ৩০ ৫ ৬২

৩০ ২০১৭ ১০

২ ৮৬ ও ৩

ও ২৪ ( )

২৭

১৯৬৪ ১২

৪ ও ও ১৯৭২

ও ( )

ও ৩৪ ৮ ও

৯০

৪৫ ও ৫

১৯৬৪ ১৯৭২ ১৯৮৯

১০০ ও ২৬ ১৬ ২০ ৫৪৩ ৭৭

৫ - ৫১ ১৫ ৬০ ও

৩২ ৯০

Source httpbonikbartanetbanglanews2017-11-11137853 - - - - - -৬৩---

( ) ও

১০

ও ও ও

-

ও ও

ও ঋ ও

ও ২০১৪ ও

ও ও

২০১৩

( ) ও

Daily News Flash 12th November 2017

47

২০১৪

২০১৪-১৬ ও

২০১৪

ও ২০১৪

২০১৫ ২৭ lsquo ও rsquo

ও ও

২০১৬ ২৪

( )

ও ও

- ও

ও ও ১৯৮৩ ২০১৬

ঋ ( ) ৫৬০

৮৬৪

২০১৬ ২০১৯ ও

ও ১৫ ২৫ ৩০ ও ৩০

ও ঋ ও

২০১৬ ঋ ১

৩৪২ ঋ ৬ ৫২ ১২৩

ঋ ২ ৪৪৩ ঋ ১০

৮৪ ঋ ৪০

৭২৬

ও ২০১৬ ৭৪১

৪৫৭

২০৭ ২৪৪

১০ ও

ও ও ও ও ও

Daily News Flash 12th November 2017

48

Source httpbonikbartanetbanglanews2017-11-12137998 - - - - - ও- -

( )

৩০ ২০১৭ ২০

( ) ২ ১ ১ ৫৯ (

) ৩০ ( ) ১৫ ৩৭

ও ২৮ ১১

( ) ২৮

২০১৬ ৩০ ১৮ ২০

২০১৪ ও ২০

১৫ ৩০

১৮ ৮০ ও ৯ ৬০

Source httpbonikbartanetbanglanews2017-11-11137850 - - - -

ফ ৭ ২০১৭-১৮ ৭ ৩ ৭৪

( ) ও

( - ) ১ ১৫০ ৫৮

(২০১৬-১৭) ১ ৭৫ ৩ ৬০ ৭

৩ ১ ১৫৯ ২০ ৭৪

ও mdash

৬ ৬৫ ১৭ ৬৩

mdash ও ও

১৫ ৪১ ২২ ৬৯ ১০

১৯ ৬৬ ১০ ২০ ২২

mdash ও ও ও

৩৯ ৫১ ও ২ ও

১৬ ৪৬ ও ও ৬ ৯৯ ও

৩ ৮৫ ৯ ৯৫

১৯ ৮২

৮০

ও ( )

mdash

Daily News Flash 12th November 2017

49

ও ও

Source httpbonikbartanetbanglanews2017-11-10137755 - - - -৭- - --

ফ - ফ ও -ও

-ও

-ও

২৯-১০-২০১১ ৩ ( ) ২৮-১০-২০১৪

৩ ( ) ২৮-১১-২০১৬

২৮-১০-২০১৭ ৩ ( )

২০১৬-১৫৮১৩৪ ৪৪ ০৭-০৮-

২০১২ ১২(৬) ২ ( ) ৬ ( )

-ও - ও ২ ( )

৬ ( ) ও ও

-ও ৩ ( )

-

ও ও

১৯৯৪

২ ২২-০৫-২০১২ -ও ৩

- -

১৯৯৪

-ও

- ও

( )

১৯৯৪

১৯৯৪ -ও

Source httpwwwsharenews24comindexphppage=detailsampnc=1ampnews_id=6587

Daily News Flash 12th November 2017

50

ফ ফ

১৫ ও

-( ) ও

৪৯

১৬ ৮৫

৫১ ৪৯

৪ ৩৬

১৯১৩

১০০ ও ১৯০১ ১৯৬০

Source httpswwwdailystockbangladeshcom - - - -

- ( -১)

( ) ৮

৩০০ ও

( ) ১৬

- ২২৮ ৪৯ ১৮৩ ২০১৮

( ) ও

১৫০

( ) ও ৪০ ৩০

ও ও

ও ও

Source httpswwwdailystockbangladeshcom - - -

Page 21: Daily News Flash, 12th November, 2017 -  · PDF filebanglalink's revenue falls 4.57pc in q3 ... banks lack remedial strategy while npl rises worryingly

Daily News Flash 12th November 2017

21

The study conducted by a six-member team identified distance of bank branches delay in receiving money misconduct by bankers submission of various documents weekly holidays of banks and illegal immigrants as the reasons for increasing remittance inflow through mobile Hundi The six-member team headed by BIBM director Shah Md Ahsan Habib presented the study at the seminar presided over by BIBM director general Toufic Ahmad Choudhury held in the auditorium of the institute in the city lsquoIn Bangladesh remittances declined by an estimated 111 per cent in 2016 in the face of lower oil prices and fiscal tightening in the GCC countries Among other reasons use of Illegal channel by the expatriates is doing harm to our countryrsquo Bangladesh Bank deputy governor Shitangshu Kumar Sur Chowdhury said He said that it would not be possible to stop Hundi totally but BB is working to check the transactions through the illegal channel To ease the formal channel BB has reduced the security deposit requirement for the exchange houses abroad to make arrangements for remittances with local banks Shitangshu said The BB deputy governor hoped that Non-Resident Bangladeshis would come forward to know the importance of their money to be sent through banking channels BB former executive director Yasin Ali said that national economy was being hindered due to remittance inflow through illegal channels He suggested using mobile banking facilities for remittance inflow saying that the area of mobile banking expanded many fold in last five years Helal Ahmed Chowdhury former managing director of Pubali Bank suggested bankers to be courteous with bank customers Source httpwwwnewagebdnetarticle28041study-blames-mobile-hundi-for-falling-remittances-thru-banking-channel

POLICY SUPPORT MUST TO DIVERSIFY EXPORT BASKET Speakers on Thursday said that in order to diversify the countryrsquos export basket export-oriented businesses should be given the policy support that has proved highly successful in bringing vibrancy to the countryrsquos RMG sector They were speaking at a workshop styled ldquoExport Diversification Challenges and Prioritiesrdquo organised by Bangladesh Enterprise Institute (BEI) in the auditorium of International Finance Investment and Commerce Bank in Dhaka Dr Mohammad A Razzaque former head of International Trade Policy at Commonwealth Secretariat in London presented a keynote paper in the programme chaired by Salman F Rahman private sector development advisor to Awami League President and Prime Minister Sheikh Hasina Skill development measures may also play a vital part in this regard Salman said export diversification would be possible only when adequate and appropriate policy support is provided to all export-oriented industries Dr Razzaque in his keynote paper suggested revamping and deepening policy support such as providing cash assistance and bonded warehouse facilities to all such industries to improve their export competitiveness He also highlighted the need for further expanding Bangladeshrsquos export basket as its penetration into global export markets in the last decade was very insignificant Eminent economist Prof Wahiduddin Mahmud said ldquoIn addition to providing subsidies and cash incentives to thriving and promising sectors on a long-term basis the government should take measures to strengthen the countryrsquos manufacturing baserdquo

Daily News Flash 12th November 2017

22

Shafiul Islam Mohiuddin president of the Federation of Bangladesh Chambers of Commerce and Industry said the governmentrsquos support is a must to create a strong manufacturing base for export diversification ldquoSkill development measures may also play a vital part in this regardrdquo Addressing the event as the chief guest Commerce Minister Tofail Ahmed said export diversification depends on businessmenrsquos initiatives He however pledged all necessary support from the government for export diversification to meet the countryrsquos $60 billion export target by 2021 BEI President Farooq Sobhan emphasised engaging the private sector in relevant policy discourses to achieve the target ldquoA private sector-oriented policy mechanism is very important as rapid changes are taking place in the global trade landscape Understanding implications and generating timely policy responses to unfolding developments will be meaningful only when the private sector is able to benefit from themrdquo said Sobhan Among others Mustafizur Rahman a fellow at the Centre for Policy Dialogue Kazi M Aminul Islam executive chairman of Bangladesh Investment Development Authority Bijoy Bhattacharjee vice chairman of Bangladesh Export Promotion Bureau and Md Nojibur Rahman chairman of the National Board of Revenue also spoke Source httpwwwdhakatribunecombusinesseconomy20171109policy-support-must-diversify-export-basket

BANKS LACK REMEDIAL STRATEGY WHILE NPL RISES WORRYINGLY Some of Bangladeshs banks dont have in-depth look into the problem of spiraling non-performing loans (NPL) while many others try to frame remedial strategies perfunctorily Such observations came out from studies on banking as well as financial sector at large as the NPL surge worries many quarters One finding shows that around 11 per cent of the countrys banks did not have an in-depth look into the issue of NPLs in the past year despite a growing concern over the problem in the financial arena The recent industry-wide survey also revealed that around 30 per cent of the countrys banks had not assessed their past NPL-reduction strategies at all while 36 per cent did so only on an ad-hoc basis The findings came out from the survey of the Chief Risk Officers at the banks on issues concerning NPL strategy in their institutions Leading banking research and training institution Bangladesh Institute of Bank Management (BIBM) conducted the study The research findings come at a time when the ballooning NPLs is becoming a major issue with the countrys banking industry and also triggering concerns and criticisms As per the central bank data the volume of NPLs had increased by more than 21 per cent to Tk 62172 billion by the end of 2016 swelling from Tk 51371 billion a year before The findings are genuinely surprising as we are struggling to find a bank for which NPL is not an issue in some capacity said Sazib Azad Senior Advisor of BIBM who led the research initiative Furthermore if the bank itself is immune to the impact of NPL even then they need to consider whether they are immune from structural or market-level impacts as well he told the FE However relevant survey results show the potential lack of such considerations as only 10 per cent of bank CROs taking part in the survey said that their banks are addressing potential dependence on market assessment and strategy What is more surprising is that the NPL strategies of around 62 per cent of the banks are not signed off by the boards the survey found

Daily News Flash 12th November 2017

23

This is quite striking because given the severity of the non-performing-loan issue the NPL strategy should be signed off by the boards Mr Azad said adding Boards are not only accountable for the health of the banks but are also in position to release resources to get to grips with the issue In addition the survey result also revealed 31 per cent of the banks not communicating their NPL strategy across the bank NPL as an issue needs to be addressed from ground up But the results show that this is not happening at our banks said an expert who was involved with research Meanwhile 25 per cent of the CROs said they were not tracking the implementation and effectiveness of NPL strategy in their banks- something which according to experts is a cause of concern Given how critical an issue NPL exposure is we would expect every CRO to track how the NPL strategy is being implemented its effectiveness and how to improve matters to the Board Risk Committee and the Board the banking experts said Meanwhile the survey results also found that although 94 per cent of the banks had stress-tested their balance sheet in terms of NPL drag this figure drops to 56 per cent while considering the impact to and from the wider economy market and structural aspects It seems that 33 per cent of the banks do not formally consider this aspect with a further 11 per cent not looking at this dimension at all the researchers said Experts also noted that with Basel 3 farther putting capital under pressure sensible banks should dynamically model the impact of key risks to their capital However the survey results show 17 per cent of the banks are not doing so while 31 per cent doing it in a limited manner Asked whether their banks risk-appetite-statement metrics reflected their NPL strategy 36 per cent of the respondents said they do so in a limited capacity while a further 80 per cent are not doing that at all It was also found that 25 per cent of the C-Suites have specific NPL-strategy-related targets while 31 per cent of the CROs have the same Meanwhile when asked whether they consider their NPL strategy to be embedded just over half of them or 52 per cent of the survey participants said Yes This according to experts is clearly not fit for purpose given the severity of the NPL issue facing the banking sector The first step in looking into the NPL issue is to assess internal capabilities to effectively manage NPLs Next external conditions or operating environment needs to be considered Finally the capital implications of the NPL strategy need to be analyzed said Sajib Azad The findings of the survey will be shared with the stakeholders during the next CRO forum of BIBM expected to take place next month where the issue of Risk Culture will also figure high The biggest reason for the swelling of NPL in our banking sector is a lack of good governance To check the ballooning of NPL the internal governance of the banks has to be strengthened above all Director-General of BIBM Toufic Ahmad Choudhury said Meanwhile the survey also found banks tending to consider time-horizon portfolio segment and exposure-level-based targets to be broadly equally important to their NPL strategy In terms of options preferred for reducing NPL banks consider change of exposure type to be most effective (36 per cent) followed by active portfolio reductions (33 per cent) and hold forbearance (31 pe rcent) Source httptodaythefinancialexpresscombdfirst-pagebanks-lack-remedial-strategy-while-npl-rises-worryingly-1510417700

GOVT SEEKS US$183B UNDER 39TH JAPANESE ODA PACKAGE The government has sought around US$183 billion worth of assistance from Japan for bankrolling six development projects officials said Saturday

Daily News Flash 12th November 2017

24

Officials at the Ministry of Finance (MoF) said they have already discussed the issue with the Japan International Cooperation Agency (JICA) We are hopeful of receiving funds under its upcoming 39th Official Development Assistance (ODA) package to finance six development projects a senior MoF official told the FE He said a JICA mission in September-October last completed its visit to Bangladesh to explore the possibilities of financing the proposed projects We are hopeful of signing the 39th ODA package with JICA within a couple of months he said After signing the loan deal the largest bilateral donor will start disbursement of funds from the proposed $183 billion aid package for the six development projects the MoF official added The proposed six projects under the 39th ODA package are Matarbari port development Dhaka MRT line-6 construction (phase-III) Dhaka MRT line -5 feasibility study Matarbari ultra super critical coal-fired power plant (phase-IV) Jamuna Railway Bridge construction and Health service strengthening project A senior official of Economic Relations Division said the proposed 39th ODA package will be very useful for Bangladesh as it will be utilised to develop the Matarbari port ongoing Matarbari power plant project conduct feasibility study and detailed design of the MRT line-5 in Dhaka and to construct railway bridge over the River Jamuna All of these projects are very important for the country to ensure smooth transportation and uninterrupted power supply he added Japan is the largest bilateral development partner of Bangladesh Over last 5-6 years it has enhanced its aid with confirmation of more than US$10 billion worth of funds under each of the aid packages In the last 38th ODA package signed in June 2017 JICA provided Yen 178223 billion ($164 billion) for utilising in six development projects on transport infrastructure power and water sector improvement works In June 2016 Japan signed the 37th ODA deal worth $150 billion (17354 billion Japanese Yen) with Bangladesh and in December 2015 it inked the 36th ODA package confirming $12 billion concessional loan for six development projects Under the last 38th ODA package JICA offered $700 million (Yen 76825 billion) for Hazrat Shahjalal International Airport Expansion project $480 million (Yen 5273 billion) for 2nd Kanchpur Meghna and Gumti bridges construction $50 million (Yen 5593 billion) for Dhaka Mass Rapid Transit development project (Line 1) $100 million (Yen 10745 billion) for Matarbari ultra super critical coal-fired power plant $190 million (Yen 20477 billion) for Dhaka underground substation construction project and $110 million (Yen 11853 billion) loan for small scale water resources development project Japan has so far provided Bangladesh with nearly US$12 billion in assistance since the financial year (FY) 1971-72 Source httptodaythefinancialexpresscombdfirst-pagegovt-seeks-us183b-under-39th-japanese-oda-package-1510417739

SUMMIT GROUP ENTITIES TO ISSUE PREFERENCE SHARES WORTH $1250M A subscription closing ceremony to raise capital through issuance of preference shares worth BDT 1000 million (USD 1250 million) for Summit Barisal Power Limited amp Summit Narayanganj Power Unit II Limited was held recently at Pan Pacific Sonargaon Dhaka said a statement LankaBangla Finance Limited acted as the Mandated Arranger LankaBangla Investments Limited acted as the Issue Manager and The City Bank Limited acted as the Agent Account Bank amp Custodian Bank to raise the fund In the event Mr Lt Gen (Retd) Engr Abdul Wadud Managing Director of Summit Barisal Power Limited amp Summit Narayanganj Power Unit II Limited Mr Khwaja Shahriar Managing Director amp

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CEO of LankaBangla Finance Limited Mr Mohammed Nasir Uddin Chowdhury Managing Director of LankaBangla Capital Market Operations Mr Mominul Islam Managing Director amp CEO of IPDC Finance Limited Mr R Q M Forkan Managing Director amp CEO of Bangladesh Commerce Bank Limited Mr Faruq M Ahmed Additional Managing Director of Trust Bank Limited Mr Akthar Hamid Khan Deputy Managing Director of Pubali Bank Limited Mr Arif Hasan Khan Vice President of Modhumoti Bank Limited Mr Mohammad Ibrahim Khalil FCA Vice President amp CFO of Bank Asia Limited and Mr Mahbub Jamil Vice President and Head of Structured Finance of The City Bank Limited along with other senior officials from the companies were present Source httptodaythefinancialexpresscombdstock-corporatesummit-group-entities-to-issue-preference-shares-worth-1250m-1510411878

BMBA URGES MUHITH TO EXEMPT INVESTMENTS BY MF SPONSORS Bangladesh Merchant Bankers Association (BMBA) has urged the finance minister to exclude some components including sponsors investments in mutual funds (MFs) from the banks exposure to the capital market It made the request for ensuring an environment conducive to gradual development of the capital market according to a proposal submitted to Finance Minister AMA Muhith last week The BMBA said the long-term or strategic investments needed to be excluded while calculating the exposure as these investments were not intended for frequent trading Non-convertible preference shares and non-listed securities also need to be excluded from the capital market exposure as it will never influence the capital market volatility it said in a letter to the minister According to the letter the MFs are passive investments where investors themselves are not involved in investment decision making and such fund portfolios are mostly of long-term nature than frequent trading On the other hand the sponsors of the MFs need to hold 10 per cent of the investment until liquidation of the fund So considering the fact the sponsors portions in MFs need to be excluded from the banks capital exposure said the BMBA proposal As per the Banking Act 1991 it said reporting requirement is on solo basis but the central bank has introduced consolidated calculation which is of dual effectdouble counting in the market exposure This kind of restrictive measure creates panic situation in the market and may hinder the potentials and prospects of the capital market as a whole the BMBA said It also said that this kind of practice needed to be stopped as such requirements and reporting practice would further squeeze the market and that the investors would lose their interest The BMBA said some organisations have invested on strategic purpose and were holding positions in the board and their exposure increased with rising the market price of MF units On the other hand in compliance with the securities rules they are unable to sell shares to reduce exposure the BMBA said terming the situation complicated In its letter the BMBA said that the capital market exposure of some banks and financial institutions increased without fresh investments following the upward trend of the market price as the exposure is calculated on the basis of market price If the banks need to go for selling off their excess exposure this will create unnecessary selling pressure on the market said the BMBA The association requested the finance minister to consider their proposal to facilitate the growth of the capital market by its own strength and prospect Source httptodaythefinancialexpresscombdstock-corporatebmba-urges-muhith-to-exempt-investments-by-mf-sponsors-1510411950

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ATIUR STRESSES ROLE OF REGULATORS IN DIGITAL FINANCIAL INCLUSION Former Bangladesh Bank Governor Dr Atiur Rahman chairs a session at the 5th Biennial Competition Regulation and Development Conference at Jaipur in India on Thursday Success of digital financial inclusion depends on the prudent role of the regulating bodies to a great extent And the recent progress in Bangladesh in this regard is a good example for the rest of the world to follow said Dr Atiur Rahman former governor of Bangladesh Bank says a statement He was chairing a session at the 5th Biennial Competition Regulation and Development Conference at Jaipur India on Thursday The three-day conference is being hosted by CUTS International and OECD Speakers of the session included Ravinder S Aurora Senior Vice President of Mastercard David Ongolo Kenyan Competition Authority and Dr A K EnamulHaque Professor of East West University Dhaka Many developing countries survived and even thrived during the last global financial crisis because they chose to follow a broad-based financial inclusion strategy And digital solutions played a crucial role in this financial inclusion drive said Dr Rahman He added that service providers must focus on reaching out to the customers in the rural socio-economic conditions Dr Rahman said that experience from Bangladesh can answer many of the burning questions regarding digital financial inclusion The central bank of the country has facilitated bank-led digitisation drive Be it Mobile Financial Service or be it Agent Banking the Bangladesh Bank has encouraged traditional players (ie the commercial banks) to lead the way And it has been proven to be very successful He also said that the world is witnessing only the beginning of the digital finance revolution Hence we must learn from all these experiments share our experiences and know-hows Only then we can work towards shaping global standards and practices Dr Rahman finally asked all central banks to be more proactive and collaborative with other stakeholders including non-traditional financial service providers to facilitate orderly development of digital financial inclusion so that consumers interests are better protected The grievance redressal mechanism developed in Bangladesh Bank with infusion of state of the art technology to gain trust of the customers in financial inclusion was also discussed widely in the session The panelists highly appreciated Bangladeshs regulatory move with public interest in mind using latest technology for replicable digital financial inclusion Source httptodaythefinancialexpresscombdtrade-marketatiur-stresses-role-of-regulators-in-digital-financial-inclusion-1510416319

FAO FEARS NEGATIVE BD FOOD OUTPUT GROWTH ON FLOODING Recent flooding has dampened the outlook for Bangladesh a likely third successive season of little or negative food production growth mainly rice reports UNB quoting FAO Barring major setbacks production recoveries could instead permit Bangladesh and Sri Lanka to slightly lower their 2018 imports to 11 million and 450 000 tonnes respectively according to the latest Food Outlook published by the UN Food and Agriculture Organisation (FAO) Among other rice importers Bangladesh Iraq Nigeria and the Philippines are all similarly predicted to replenish their inventories according to the report a copy of which obtained by the news agency These gains are however likely to be offset by stock reductions in the Republic of Korea Madagascar Sri Lanka and the United Republic of Tanzania all linked to output shortfalls Although the use of rice as animal feed is being sustained by the release of supplies from government granaries in Japan the Republic of Korea and Thailand more affordable feedstuffs are expected to displace rice in most other countries especially in Bangladesh China (Mainland) and Vietnam

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Since the previous Food Outlook report a series of unfavourable climate-related events have affected main paddy crops in the Northern Hemisphere which have now reached the harvesting stage This has been the case in Asia where unlike 2016 the critical Northern Hemisphere summer months were characterised by mixed growing conditions that inhibited planting expansions As a result FAOs latest forecast of world rice production in 2017 points to a broadly stable output level of 5008 million tonnes Production in Asia is now forecast to fall 550 000 tonnes below the 2016 bumper harvest to 4525 million tonnes The UN agriculture agency has said the cost of importing food is rising in 2017 driven by increased international demand for most food stuffs as well as higher freight charges The cost of importing food is forecast to rise six per cent in 2017 to $1413 trillion making it the second highest bill on record while food commodity prices have been generally stable according to the latest Food Outlook that expressed concern about the economic and social impact of this trend on poor countries Although weather disruptions are set to stall production growth this season global rice supplies are still forecast to exceed utilisation enabling a small expansion of world rice inventories Global trade is expected to rise only modestly in 2018 after staging an 8 per cent recovery in 2017 The food import bills are set to increase by double-digit rates for least-developed countries (LDCs) and low-income food-deficit countries Aromatic rice varieties have risen eight times faster than the FAO All Rice Index which is up four per cent on the year However the higher import costs come at a time when inventories are robust harvest forecasts are strong and food commodity markets remain well supplied The export of tropical fruits is promising for poverty relief and rural development as almost all production takes place in developing countries The export volumes of mango pineapple avocado and papayas are on course to achieve a total combined value of $10 billion this year according to the Food Outlook Source httptodaythefinancialexpresscombdfirst-pagefao-fears-negative-bd-food-output-growth-on-flooding-1510336161date=11-11-2017

STOCKS NUDGE HIGHER AS BANK TELECOM ISSUES SURGE Stocks extended the winning streak for the two consecutive weeks that ended Thursday as enthusiastic investors continued their buying appetite on bank and telecommunication issues Market operators said the positive momentum in some large-cap issues especially from banking telecom pharmaceuticals and food amp allied sectors helped the bourse to stay upbeat The banking sector posted the highest return of 445 per cent as 27 out of 30 listed banks ticked higher Four banks gained more than 10 per cent each The telecom sector also surged 342 per cent as Grameenphone the countrys largest market-cap listed companys shares price jumped 40 per cent to close at Tk 45690 each The market extended the winning streak riding on heavyweight bank and telecom issues said an analyst at a leading brokerage firm The week featured five trading sessions as usual Of them first session saw marginal correction while last four closed higher Week-on-week DSEX the prime index of the Dhaka Stock Exchange (DSE) jacked up by 9454 points or 155 per cent to finish at 6193 The two other indices -- the DS30 index and the DSE Shariah Index (DSES) - also closed higher at 2244 and 1341 points

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Both the indices added 4264 points and 1218 points respectively During the week banking pharmaceuticals and telecommunication sector stocks contributed more to keep the market up commented City Bank Capital Resources a merchant bank in its weekly analysis The port city bourse Chittagong Stock Exchange (CSE) also ended higher The CSCX advanced 180 points or 156 per cent to finish at 11618 International Leasing Securities a stockbroker noted that the market observed an upbeat vibe throughout the week riding on the news of soaring of net foreign investment in the capital market in the first 10 months of 2017 compared to the same period of last year Net position of foreign portfolio with the DSE stood at Tk 1623 billion in January-October compared to Tk 80 billion in the same period a year ago However some investors were reshuffling their portfolios after observing the year-end corporate declarations and first quarter earning disclosures the stockbroker added According to EBL Securities The market witnessed an upbeat tune throughout the week riding on regained confidence among the market participants The stockbroker noted that preferable year-end and quarter-end earnings declarations by several companies helped them to remain positive about market The total turnover for the week amounted to Tk 3591 billion on the DSE which was Tk 3027 billion in the week before The daily turnover averaged Tk 718 billion which was nearly 19 per cent higher than the previous weeks average of Tk 605 billion Block trade accounted for 16 per cent of the total weekly turnover where stocks like BATBC Beximco Pharma Shahjalal Islami Bank Square Pharma and Singer Bangladesh dominated the block trade board Banking sector kept its dominance over the turnover chart grabbing 35 per cent of the weeks total transaction followed by engineering with 18 per cent and pharmaceuticals 11 per cent Out of 336 issues traded 207 closed lower 116 ended higher and 13 issues remained unchanged on the DSE trading floor during the week The market capitalisation of the DSE rose 137 per cent as it was Tk 4123 billion on the opening day of the week and it stood at Tk 4179 billion on closing day of the week City Bank topped the weeks turnover chart with 5390 million shares worth Tk 184 billion changing hands followed by IFAD Autos with Tk 121 billion Brac Bank Tk 10 billion LankaBangla Finance Tk 994 million and Dhaka Bank Tk 926 million Reckitt Benckiser was the weeks best performer posting a gain of 1925 per cent while Stylecraft was the weeks worst loser slumping by 3322 per cent A new issue - Oimex Electrode-- made debut last week and soared 1042 per cent from its offer price of Tk 10 in the first trading day on Monday Source httptodaythefinancialexpresscombdstock-corporatestocks-nudge-higher-as-bank-telecom-issues-surge-1510332934date=11-11-2017

BANGLADESH GROWING AS DENIM HUB The growing global demand for fashionable denim wear encouraged both local and foreign entrepreneurs to make fresh investment in Bangladesh participants and organisers of Bangladesh Denim Expo have said Many of the 30 local denim mills are going for expansion while a couple more will come into operation with fresh investment within next two or three years they said Some foreign companies are opening offices or setting up factories in Bangladesh they added The seventh edition of the two-day Bangladesh Denim Expo was held in the city recently with the theme transparency to highlight the need for transparency in the entire denim supply chain

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A total of 65 exhibitors from 12 countries participated in the show while more than 12 thousand visitors from across the world registered online to attend the two-day expo organisers said Talking to the FE on the sidelines of the expo Md Khalid Mosharof assistant general manager at Dekko Group said the group invested Tk 15 million in setting up a new factory of 44 lines at Ashulia that would go for denim item production in June next The main reason is to tap the growing global demand he said Echoing him Syeed Ahmed Chowdhury general manager operation at Square Denim said the company expanded its denim fabric production capacity to 30 million yards from the existing 15 million yards per month mainly to meet the demand He however opined that the expansion is taking place more in garment segments than in fabric production There is no alternative to expansion to sustain the existing business and achieve the $50 billion garment export earnings target by 2021 Sharif Zahir managing director of Ananta Group said stressing the need for positive branding of the sector Meanwhile Landes a German denim accessories maker started production in its new factory at Savar from this month It invested US $05 million We opened the factory in Bangladesh as we think this is the hub for denim business and there is a lot of business prospects here Manfred Slowik chief operating officer of Landes told the FE at his stall at the expo By the end of next year the total workforce in our new plant will be 120 people as we are recruiting new people from existing 30 Mr Slowik said Landes has a target to produce 500 million pieces of leather patches used in denim trousers as accessories in a year at its Savar plant from where such accessories will be supplied to the whole Asian region Many big brands like HampM VF and Walmart are their customers he said Nezahat Boni senior account manager of Orta a Turkish denim maker said her company supplies 30 million metres of denim fabrics in Bangladesh in a year against only 800 meters in 2011 We opened an office in Bangladesh in 2011 as we cannot ignore the importance of this country as a denim hub she said Prosperity Textile a Chinese company opened its office in Dhaka last year said Md Mujibul Hoque the companys Bangladesh Sales Director The company has targeted sale of 100 million yards a year across the globe while it also targets 30-40 per cent of their sales in Bangladesh Bangladesh is now the top denim products supplier to the European Union overtaking China and third largest to the US after China and Mexico industry people said Bangladesh supplies denim products to major global buyers and retailers including levis G-Star Raw HampM Tesco Wrangler Hugo Boss Walmart and Gap Source httptodaythefinancialexpresscombdtrade-marketbangladesh-growing-as-denim-hub-1510332061date=11-11-2017

EXPORTS UP 70PC IN JULY-OCTOBER Countrys export earnings grew by 703 per cent to US$1150 billion during first four months of the current fiscal year (FY 2017-18) according to official data released Thursday The earnings were $1079 billion in the same period (July-October) last FY In October 2017 the exports grew by 642 per cent to $284 billion the Export Promotion Bureau (EPB) data showed The overall exports in the first four months slightly (074 per cent) fell short of the periods target In October however the exports were 628 per cent higher than the months strategic target Readymade garment shipments fetched $943 billion marking 699 per cent growth during the period as compared to $882 billion in the same period of last FY

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The woven items registered 385 per cent growth in earnings to $445 billion than that of $428 billion in the same period of FY 2016-17 The earnings from knitwear export during the period grew by 995 per cent to $498 billion from $453 billion in the corresponding period of last FY Jute and jute goods exports rose by 1646 per cent to $34501 million from $29626 million in the same period of FY17 The earnings from agriculture products grew by 2022 per cent during the period while home textiles by 2037 per cent The earnings from leather and leather products however fell marginally by 002 per cent to $42844 million during the period than that of $42851 million in the same period last FY The export earnings from frozen food and live fish grew by 1541 per cent to $22691 million from $19661 million of the corresponding period of last fiscal Mahmud Hasan Khan vice president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) said the exports in the first four months of the current fiscal year fell short of the expected growth mainly because of failure in maintaining the lead time and short supply of gas and electricity Terming the knitwears growth satisfactory he said woven items manufacturers have been struggling to cope with the new challenge as buyers were reducing the volume of orders due to failure in meeting the lead time Without efficient port and strong backward linkage industry especially for the woven sub-sector it will be difficult for the sub-sector to bounce back he feared He pointed out that maximum of the woven fabric requirements were being met through imports But it was taking too much time to clear the imported fabrics and additional charges as a result at the Chittagong seaport that was facing unbearable congestion The government should provide necessary policy support to the exporters to establish strong backward linkage industry for the woven sub-sector he added Source httptodaythefinancialexpresscombdfirst-pageexports-up-70pc-in-july-october-1510248870date=10-11-2017

GAS CRISIS HURTING OUTPUT IN INDUSTRIAL BELT Factories in the countrys Tongi-Gazipur industrial belt have been facing acute gas crisis over the past few months following diversion of gas to upstream power plants The crisis has deteriorated further this week albeit some improvements for a few days last week said local industrialists and businessmen According to them if the ongoing gas crisis persists they may be forced to shut down their factories Officials of the Titas Gas Transmission and Distribution Company Limited (TGTDCL) however blamed the Petrobangla for the gas crunch Sources concerned say the industrial belt of Tongi-Gazipur is suffering badly for about four to five months from low pressure of gas coupled with poor electricity voltage -- often resulting in huge volume of industrial wastages and reduction of production efficiency According to the industry insiders a factory in the industrial belt requires 04 PSI (production per square inch) as optimum gas pressure but the pressure at times comes down to as low as 01 PSI these days -- especially during the daytime Gas pressure in the area becomes normal around 10pm11pm and stays for not more than 08 hours until 6am7am an entrepreneur of the industrial belt informed Asked an official of Titas said they are at present getting nearly 250 million cubic meters (MCM) less in recent weeks against their current demand of 1800 MCM gas in Titas franchise The downstream Titas franchise area covers greater Dhaka region which includes Gazipur alongside some other adjoining districts and greater Mymensingh he said

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A Petrobangla source however cited gas supply on priority basis to a number of upstream projects including power plants as reason behind supply shortage When asked Managing Director of Akij Group Sk Bashir Uddin termed the situation really worrisome According to him two of Akij Group companies situated in the area -- Akij Printing amp Packages Limited and Dhaka Tobacco Industries -- jointly contributed nearly Tk 35 billion (3500 crore) to the national exchequer in the 2016-17 fiscal year But were very much worried about our industrial output this year as production disruption following the twin crises involving gas supply and power supply Both will eventually disrupt our retail business in every phase he quipped This often results in a high rate of industrial wastage and reduction of production efficiency he added Bangladesh Auto Re-rolling Steel Mills amp Association Chairman Manwar Hossain who is also Anwar Group Managing Director echoed the same concern Factories in the industrial belt are now operating at one-third of their capacity which may lead to labour unrest and default of huge sum of bank loans he said Such disruption of production he cautions may even cause sudden shutdown of factories According to him none of the victims in that case will be the wilful defaulters -- they will be the victims of circumstances The businessman who has a steel factory called Anwar Ispat Limited in the industrial belt called for immediate introduction of ECM (electronically controlled meters) to check unabated gas engineering in the area which he deems to be yet another reason for gas supply crunch Titas officials according to him are encouraging co-generation scheme to help address the severe gas crisis But he said co-generation will require stable and smooth gas supply Government should ensure at least 10-15 years of smooth gas supply to encourage co-generation as what he said any industrial investment requires 20 years of payback period TGTDCL Deputy Managing Director Engineer Abdul Wahab Talukdar who is also the Project Director of Sripur-Joydevpur Transmission Pipeline Project said We cannot do anything to address the crisis if there is a lack of adequate gas supply Mentioning that all factories in the industrial belt are like my babies he unequivocally said Titas is not at fault He also admitted that priority-based power plants gas supply being the reason behind the current spell of gas crunch We have already started introducing electronic volumetric corrector (EVC) to stop illegal gas use in the area he said Factories he added should go for co-generation scheme for protecting their own interest Co-generation means utilising and absorbing heat generated from gas generators which Mr Wahab said will save energy A section of the businessmen however called for stopping fertiliser production and distributing the same among people at a subsidised price after importing it to facilitate smooth supply of gas to other industries Even if the government stops fertiliser production and opts for importing it for distribution at a subsidised rate there will only be an insignificant loss compared to the overall losses now being incurred said an industrialist who has more than one factory in the industrial belt Local sources said illegal and unapproved gas connections in various industries in and around the zone are also affecting gas supply badly among other reasons Source httptodaythefinancialexpresscombdfirst-pagegas-crisis-hurting-output-in-industrial-belt-1510249018date=10-11-2017

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SINGLE PERSON MAY FORM COMPANY A single person may form a commercial firm under a provision of the companies law being updated along with some other major business-stimulating measures Official sources said the government is considering incorporating some new provisions including one allowing individuals to form any company into the updated Companies Act The other provisions are formation of an appellate tribunal to resolve legal matters without wasting much time widespread automation of companies work and submission of annual company reports online Earlier the Ministry of Commerce (MoC) had received some recommendations from the stakeholders on how to update the law they added We got most of the recommendations from the stakeholders We hope we will be able to prepare the draft Companies Act within a month Md Obaidul Azam director trade organisations (DTO) told the FE He said the recommendations the ministry had received so far were being scrutinised before preparing a draft for updating the companies act Earlier different trade bodies had sent their respective recommendations to the MoC for incorporation into the law The MoC will hold a meeting with the countrys apex trade body after assessing the recommendations and suggestions the ministry official said Talking to the FE a leader of an influential trade body said they had sent some recommendationssuggestions to the MoC for the new Companies Act for betterment of the countrys trade and business According to Section 2 (1) (c) of the Companies Act 1994 Company means a company formed and registered under this Act or an existing company Thus a company is an association of persons formed under the Companies Act 1994 with a view to achieving some common objectives Though a company is regarded a legal person it possesses similar rights and owes similar obligations like a natural person Now any individual fulfilling the new criteria may be allowed to form a firm Source httptodaythefinancialexpresscombdfirst-pagesingle-person-may-form-company-1510249090date=10-11-2017

DSE TURNOVER CROSSES TK 80 BILLION MARK The daily turnover on Dhaka Stock Exchange (DSE) exceeded the Tk 80 billion mark on Thursday as investors took fresh exposure to the banking sector Turnover a crucial indicator of the market reached Tk 870 billion on the countrys premier bourse jumping 14 per cent from the previous days transaction of Tk 765 billion It was the biggest single-day transaction since October 11 when the turnover totalled a record Tk 1092 billion Along with rising turnover DSEX the prime index of the Dhaka bourse continued to keep its gaining momentum closing 3449 points higher at 6193 points DSEX which replaced the DGEN in nearly five years back added more than 121 points or 20 per cent in the past four consecutive sessions The two other indices -- the DS30 index and the DSE Shariah Index (DSES) -- also followed suit to end at 2244 and 1341 points after gaining 1422 points and 443 points respectively Brokers said the market maintained the bullish trend for the four straight sessions as the enthusiastic investors chased the banking sector stocks The market continued the bullish trend for the four consecutive sessions as the enthusiastic investors were active for the banking food and engineering sector stocks commented EBL Securities a stockbroker in its regular market analysis

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It noted that the core index remained positive throughout the session as optimistic investors kept buying sector-wise stocks while some rebalanced their portfolios Meanwhile share price of newly listed Oimex Electrode continued to decline for the three consecutive sessions after unusual hike during its debut trading on Monday The companys share price fell 763 per cent to close at Tk 9810 on Thursday after jumping more than tenfold during the debut trading which experts termed unusual Block trade contributed Tk 241 million to the days total turnover with stocks like BATBC Square Pharmaceuticals Singer Bangladesh and Beximco Pharma dominating the block trade board Among the major sectors pharmaceuticals posted the highest gain of 122 per cent followed by banking sector (083 per cent) food amp allied (067 per cent) engineering (033 per cent) financial institutions (003 per cent) and power (003 per cent) Only telecommunication sector faced a 045 per cent correction A total number of 0140 million trades were executed in the days trading session with trading volume totalling 23171 million securities The total market capitalisation of the DSE stood at Tk 4179 billion against Tk 4168 billion in the previous session Losers however took a modest lead over the gainers as out of 325 issues traded 140 closed lower 130 closed higher and 55 remained unchanged on the DSE trading floor City Bank dominated the turnover chart for the second day in a row with 1035 million shares changing hands closely followed by Dhaka Bank LankaBangla Finance Brac Bank and Keya Cosmetics Reckitt Benckiser was also the days best performer posting a gain of 624 per cent while Qasem Drycells was the days biggest loser shedding 1235 per cent The port city bourse Chittagong Stock Exchange (CSE) also ended higher with its Selective Categories Index -- CSCX --gaining more than 62 points to close at 11618 Losers beat gainers as 113 issues closed lower 97 closed higher and 37 remained unchanged on the CSE The port city bourse traded 1604 million shares and mutual fund units generating a turnover of Tk 483 million Source httptodaythefinancialexpresscombdstock-corporatedse-turnover-crosses-tk-80-billion-mark-1510245247date=10-11-2017

TEN COS GRAB 32PC TURNOVER ON DSE The banking sector continued to dominate the transaction chart of the Dhaka Stock Exchange (DSE) accounting for 39 per cent of the total turnover on Thursday Four banks made their way to the top 10 turnover chart with City Bank leading the chart for the second day in a row Brokers said the investors chased the banking sector issues as more than 63 per cent of listed banks showed positive earnings in the third quarter (July-September period) Meanwhile top 10 traded companies including four banks grabbed more than 32 per cent of turnover on the Dhaka bourse The total turnover on the premier bourse reached Tk 870 billion up 14 per cent from the previous days Tk 765 billion The most active shares in terms of value included City Bank Dhaka Bank LankaBangla Finance Brac Bank Keya Cosmetics Square Pharmaceuticals Beximco Pharmaceuticals IFAD Autos Exim Bank and IDLC Finance According to statistics available with the DSE about 1035 million shares of City Bank were traded generating a turnover of Tk 553 million or 635 per cent of the total transactions

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The companys share price hovered between Tk 5240 and Tk 5440 before closing at Tk 5390 advancing 228 per cent over the previous session Dhaka Bank came in next with shares of Tk 395 million changing hands contributing 454 per cent to the total turnover The banks share price closed 347 per cent higher at Tk 2380 LankaBangla notched the third spot with shares of Tk 266 million changing hands making up 305 per cent of the total turnover Its share price ended 063 per cent higher at Tk 6430 Brac Bank emerged the fourth with shares of Tk 257 million changing hands grabbing 295 per cent of the total turnover The banks share price settled 123 per cent higher at Tk 107 Keya Cosmetics featured a turnover of Tk 247 million or 284 per cent of the total turnover Its share price closed 201 per cent higher at Tk 1520 The turnover of Square Pharma was Tk 241 million or 276 per cent of the total transaction Its share price ended 612 per cent down at Tk 27890 Beximco Pharma featured a turnover of Tk 211 million or 242 per cent of the total turnover Its share price advanced 428 per cent to close at Tk 10960 The turnover of IFAD was Tk 208 million accounting for 238 per cent of the total turnover Its share price closed at Tk 14070 gaining 195 per cent Exim Bank featured a turnover of Tk 196 million or 225 per cent of the total transaction The banks share price inched up 055 per cent to close at Tk 1830 IDLC also made its way to the top ten turnover chart with shares of Tk 188 million changing hands Its share price closed 223 per cent higher at Tk 9150 Source httptodaythefinancialexpresscombdstock-corporateten-cos-grab-32pc-turnover-on-dse-1510245290date=10-11-2017

FOREIGN INVESTMENT HIKE INFO DRIVES MODERATE GAINS ON DSE The Dhaka bourse Thursday closed the session posting a moderate rise in the broad index and turnover amid mixed performance displayed by major sectors On the day most of the major sectors declined but the turnover crossed Tk 80 billion-mark after two sessions on Dhaka Stock Exchange (DSE) mainly because of investors increased participation in the banking sector According to a market review of International Leasing Securities positive momentum in some big-cap stocks especially from bank food and engineering sectors helped the bourse to close in green The market started the session with a positive note and the DSE broad index DSEX witnessed little ups and downs before closing higher According to AT Capital Partners the market remained sideways till the midsession The DSEX rose again in the second half of the session and closed at 61936 up by 345 points The shariah based index DSES and blue chip index DS30 also rose marginally The turnover stood at above Tk 870 billion which was 1370 per cent higher than the turnover of the previous session The confident drive was initiated by the investors buying spree riding on the news of doubling net foreign investment in stocks year-on-year in the first ten months of 2017 said the International Leasing SecuritiesAmong the gaining sectors bank advanced 08 per cent and engineering 03 per cent Of the losing sectors pharmaceuticals amp chemicals declined 11 per cent telecommunication 05 per cent and textiles 09 per cent The banking sector grabbed 384 per cent of the market turnover at the premier bourse DSECity Bank topped the turnover chart with a value of Tk 553 million followed by Dhaka Bank LankaBangla Finance BRAC Bank and Keya CosmeticsReckitt Benckiser (Bd) limited topped the gainers chart with a rise of 624 per cent to close at Tk 18456 while Quasem Drycells was the worst loser after declining 1235 per cent to close at Tk 8230 Source httptodaythefinancialexpresscombdstock-corporateforeign-investment-hike-info-drives-moderate-gains-on-dse-1510245365date=10-11-2017

Daily News Flash 12th November 2017

35

MORE JAPANESE COMPANIES SEEK TO INVEST IN BANGLADESH Japanese Ambassador to Bangladesh Hiroyasu Izumi has said the Japanese investors are keen to invest in Bangladesh considering the lucrative offer and ideal atmosphere for foreign investment reports BSS The Japanese investors expressed more interest to invest in Bangladesh at recently-held the third round of Public-Private Economic Dialogue between Bangladesh and Japan he said while visiting the Chittagong Export Processing Zone (CEPZ) on Thursday The envoy expressed the hopes that Japanese investment in the Export Processing Zones (EPZs) will increase after the successful dialogue said a press release More and more Japanese companies will come to invest in this country he added General Manager of CEPZ Khorshid Alam maed a PowerPoint presentation highlighting the overall scenario of EPZ as well as Bangladesh Export Processing Zone Authority (BEPZA) Mentioning Bangladesh EPZs as the Bonanza for Investors he said investors from 38 countries have set up industries in the EPZs and invested US $442 billion He informed the ambassador that BEPZA has ensured three layer security system including 24-hour CCTV surveillance in the key points of EPZ and factory premises for the safety of the investors Source httptodaythefinancialexpresscombdtrade-marketmore-japanese-companies-seek-to-invest-in-bangladesh-1510250285date=10-11-2017

Source httpwwwarthosuchakcomarchives388209

১৬০

১১৫ ৪ ৫ ১০ ২০

৩০ ( )

( )

৩০ ২০১৭ ১৫

৩ ও ১২

২ ১৪ ( ) ৩৪

২৪

Source httpwwwarthosuchakcomarchives388257

Daily News Flash 12th November 2017

36

৫৩ ( ) ১৫ ও ২

১ ১ ৪৩ ২১০ ৫৩ ৪৪

৩২ ৫০

৮ ৫৮

২০

১ ২৪

৯ ২৭ ৫৫৫ ৯ ৩৮

-

Source httpwwwarthosuchakcomarchives388125

৩৫ ( ) ৩৫

২৪৫ ৩

১৭ ১১৯ ২১

ও - ১১

৯ ৬ - ৫ ৪

- ও ২

ও ১

Source httpwwwarthosuchakcomarchives388085

- ফ ৪০ ও - ৪০

৬ ( ) ৫ ৯ ৫ ৪৯২ ১১

৫৬ ৪৫১ ২৯

১২ ( ও)

( )

-

- ১০

( ও) ৮০

৪৯ ৩৭ ৯৮

ও ১৭ ১২ ঋ ও

১০ ও ৩ ১০

৩০ ২০১৬ ৩৫ ৬৩

৫ ( ) ৩ ৪৯

Daily News Flash 12th November 2017

37

Source httpwwwarthosuchakcomarchives387762

lsquo rsquo

( )

lsquo - rsquo

( ) ও

২০০২ ( ২ )

৫৪৬

ও ১৫

ও ১৫ ৭৫ ও

১০-১২ ১

১৫৫ ৬৭

ও ২০১০

ও ও ও -

ঋ ঋ

১৫ ৪ ৩

২ ২ ৪ ১৫ ৬

( )

Source httpwwwarthosuchakcomarchives388276

- ও ও

Daily News Flash 12th November 2017

38

৩৮ ও ৪৩

১০০ ৬১ ৫৮ ২২৫ ১ ০৫

Source httpwwwarthosuchakcomarchives387849

- ও ( -২)

৬ ও

ও ৫ ৩০০

ও ও

৭ ২০০

( ও )

ও ও

ও ও

২ - ও mdashlsquo

rsquo ও

-

৫ ৩০০

- ১০ - ৪২৯ -

৩২৮

- ১০

( )

২০১৪

( ও) ও ( )

( )

২ ও ও

ও ও ও

ও ২০১১- ও

ও ( )

Daily News Flash 12th November 2017

39

(১০ ) ৫ ৭৬৩

৬৩ ও

ও ( )

- ২০১৪ ও

ও ও

Source httpwwwprothom-alocomeconomyarticle1362971

ও ও

ও - ও

২০১৬-১৭ ২০ ও

ও ও lsquo rsquo

ও ১০ ও

৭৭ ২০১৭

১৬ ২৭ ও

২০১৬-২০১৭ ২০ lsquo rsquo

ও-

ও ও ও

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564382

ফ ( ও) ১১

ও ও

ও lsquo১১ ও rsquo

১০ ১৩

( ) ( )

Daily News Flash 12th November 2017

40

- ও

-

( )

( )

lsquo ও

rsquo ও

২৬ ১০

১৬

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564383

১ ৫০

ও ২০৫০

২৩

১৬ ৫৯ ২০১১

২০৩০

( )

ঋ ও ও

৬৮ ৬৭

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564384

ফ lsquo

ও ও

( ) ও

- ও

( ও ) ( )

Daily News Flash 12th November 2017

41

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564388

৪৫ ও

৮৪ ৮৩

৯২০

২৭ ২৪ ৭ ৩

৬ ৮৯

৯ ১ ৭২ ১৪ ৪৮

৪৫

ও ১৭ ৫০

১৯৩ ১০ ২০১৫-১৬ ৪১৩ ১০ ও ও

২০১৪-১৫ ৩৭৫ ৮০ ৩৫ ৭০

২০১৩-১৪ ৫১৫ ও

৮১ ২ ৫১ ৩ ২০

২ ও

৮৪

৮১

- ও

৮৩

৮২ ৯৫

ও ও - ও

ও ও ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17112200 - - - -

ও ৫০

ও ( ) ( )

ও ও

Daily News Flash 12th November 2017

42

ও ও

১০০

৮ ও

৩০০ ( )

ও ১৫০

২০০ ১০০

২০০

২৭ ৭

ও ও

ও ৩০ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111811 - - - -

-

২৭ ১১

১০

( ) ২৮৪

৬ ২৮ ৭ ১৫১

৭৪

ও - ও

ও - ও

ও ৩

৭ ১ ২৩

৯৪৪ ৮৮২ ১০

ও ৪ ৭ ও

৪ ৩৮ ও ১৫ ৪১ ২২ ৭০

২০ ৩৬ ১৩ ও

৪৬ ২২ ২০ ও

১৭ ৩৭১ ও ও

১৭ ও ৪৩ ও

Daily News Flash 12th November 2017

43

৬ ২০ ও ১৬

৩৫ ২০ ২৭

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111810 - - - - -

ও ও

১৩০ ও ১৪০

৫৫ ও ৯৭ ১১৩

৩৭

৩৪

৬১৯৩ ৬২ ১১৬১৭

৩০ ১৯

ও ও

ও - ও

৪৮ ৩১

১২ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111808 - - - - -

৩৫ ও ১০

ও ( ) ও

১০

ও ও -

২ ৩০০

২০১৪ ও

ও ৭ ২০১৪ ও ২০১৫

৫ ৭ ও ১২ ৮ ২৩

২০১৩ ১ ৪২০ ২০১৪ ১০ ৫ ১ ৫৭০

১৩ ৪ ও ১ ৩৫৮ ১০

২০১৬ ও ৩ ৫ ১ ৩১০ ২০১৪

২০১৬ mdash ২ ১ ঋ

১০ ও ২০১৩

২৯ ৮০ ২০১৪ ৫ ৭ ৩১ ৫০ ২০১৫

১২ ৩৫ ৩০ ২০১৬ ৭ ৩৭ ৮০

Daily News Flash 12th November 2017

44

২০১৪ ২০১৬

৩২ ৩৫ ও ৫০ ১৯

৫৬

১৭ ৪৬ ২০১৪ ২০১৬

৭২ ১০০ ও ১১১

২০১৪ ২০১৬ ১৫ ৬৩

৯১ ১১৪ ও ১১৮ ৮ ২৩

৮০ ৯০ ও

ও -

ও -

ও ও ও

১০ ও

১০ ও ২২

৭১ ১২ ৪২

৩২ ২৬ ও

ও ও

( ) ও

ও ২০২১ ও ও

৫ ১ ১৬

ও ও

Source httpbonikbartanetbanglanews2017-11-12137992 - - -- -

৫০০ ৫০০ ও

ও ৩০ ২০১৭

৫০০ ও ঋ ২০১৮

৩০

১ ২০ ও ১৫০

১১

Daily News Flash 12th November 2017

45

৩০০ ৬০০

( ) ও

১ ২৫ ও ১০

১০ ও

ঋ ও

৩০ ২০১৭ ৩ ও ১২ ও

( ) ২ ১৪ ২ ১

ও ৩০ ১১

( ) ও ও

( - ) ৬৬ ৫৫ ৩০

( ) ৩৪ ৯০

ও ও ও

( ) ও

ও ও ২০১৫ ৩০ ১০ ২০১৬

১২

( ) ৪১ ২০ ও ২৩ ৬০

৫০ ও

২০১৪ ৩০০ ও ১৪৮ ৪৬ ৫০

১৯১ ৬২ ৩৭ ৩১

১২ ৪৫ ৫০ ২৪

ও ( ) ১৬ ৫৩

ও ১৫ ২২

Source httpbonikbartanetbanglanews2017-11-12137966৫০০- - - - -ও -

৬৩

- ও ও

৬২ ৯৪ ৫

৬২

৯০

২০১৪ - -

- ও

২০১৬-১৭ ৫ ৬২ ও ২০১৩-১৪

১২

( ) ৯০

-

ও - - ও -

Daily News Flash 12th November 2017

46

- ও

৬২ ৯৪

২০১৩-১৪ ৭০ ৭৮ ২০১৪-১৫ ৫৪ ২২

২০১৫-১৬ ৩৯ ৩৩ ও ২৬ ২৩

ও ২০১৩-১৪

১২ ৩৬ ২০১৪-১৫ ৫ ৯১ ও ২০১৫-

১৬ ১৭ ৩০ ৫ ৬২

৩০ ২০১৭ ১০

২ ৮৬ ও ৩

ও ২৪ ( )

২৭

১৯৬৪ ১২

৪ ও ও ১৯৭২

ও ( )

ও ৩৪ ৮ ও

৯০

৪৫ ও ৫

১৯৬৪ ১৯৭২ ১৯৮৯

১০০ ও ২৬ ১৬ ২০ ৫৪৩ ৭৭

৫ - ৫১ ১৫ ৬০ ও

৩২ ৯০

Source httpbonikbartanetbanglanews2017-11-11137853 - - - - - -৬৩---

( ) ও

১০

ও ও ও

-

ও ও

ও ঋ ও

ও ২০১৪ ও

ও ও

২০১৩

( ) ও

Daily News Flash 12th November 2017

47

২০১৪

২০১৪-১৬ ও

২০১৪

ও ২০১৪

২০১৫ ২৭ lsquo ও rsquo

ও ও

২০১৬ ২৪

( )

ও ও

- ও

ও ও ১৯৮৩ ২০১৬

ঋ ( ) ৫৬০

৮৬৪

২০১৬ ২০১৯ ও

ও ১৫ ২৫ ৩০ ও ৩০

ও ঋ ও

২০১৬ ঋ ১

৩৪২ ঋ ৬ ৫২ ১২৩

ঋ ২ ৪৪৩ ঋ ১০

৮৪ ঋ ৪০

৭২৬

ও ২০১৬ ৭৪১

৪৫৭

২০৭ ২৪৪

১০ ও

ও ও ও ও ও

Daily News Flash 12th November 2017

48

Source httpbonikbartanetbanglanews2017-11-12137998 - - - - - ও- -

( )

৩০ ২০১৭ ২০

( ) ২ ১ ১ ৫৯ (

) ৩০ ( ) ১৫ ৩৭

ও ২৮ ১১

( ) ২৮

২০১৬ ৩০ ১৮ ২০

২০১৪ ও ২০

১৫ ৩০

১৮ ৮০ ও ৯ ৬০

Source httpbonikbartanetbanglanews2017-11-11137850 - - - -

ফ ৭ ২০১৭-১৮ ৭ ৩ ৭৪

( ) ও

( - ) ১ ১৫০ ৫৮

(২০১৬-১৭) ১ ৭৫ ৩ ৬০ ৭

৩ ১ ১৫৯ ২০ ৭৪

ও mdash

৬ ৬৫ ১৭ ৬৩

mdash ও ও

১৫ ৪১ ২২ ৬৯ ১০

১৯ ৬৬ ১০ ২০ ২২

mdash ও ও ও

৩৯ ৫১ ও ২ ও

১৬ ৪৬ ও ও ৬ ৯৯ ও

৩ ৮৫ ৯ ৯৫

১৯ ৮২

৮০

ও ( )

mdash

Daily News Flash 12th November 2017

49

ও ও

Source httpbonikbartanetbanglanews2017-11-10137755 - - - -৭- - --

ফ - ফ ও -ও

-ও

-ও

২৯-১০-২০১১ ৩ ( ) ২৮-১০-২০১৪

৩ ( ) ২৮-১১-২০১৬

২৮-১০-২০১৭ ৩ ( )

২০১৬-১৫৮১৩৪ ৪৪ ০৭-০৮-

২০১২ ১২(৬) ২ ( ) ৬ ( )

-ও - ও ২ ( )

৬ ( ) ও ও

-ও ৩ ( )

-

ও ও

১৯৯৪

২ ২২-০৫-২০১২ -ও ৩

- -

১৯৯৪

-ও

- ও

( )

১৯৯৪

১৯৯৪ -ও

Source httpwwwsharenews24comindexphppage=detailsampnc=1ampnews_id=6587

Daily News Flash 12th November 2017

50

ফ ফ

১৫ ও

-( ) ও

৪৯

১৬ ৮৫

৫১ ৪৯

৪ ৩৬

১৯১৩

১০০ ও ১৯০১ ১৯৬০

Source httpswwwdailystockbangladeshcom - - - -

- ( -১)

( ) ৮

৩০০ ও

( ) ১৬

- ২২৮ ৪৯ ১৮৩ ২০১৮

( ) ও

১৫০

( ) ও ৪০ ৩০

ও ও

ও ও

Source httpswwwdailystockbangladeshcom - - -

Page 22: Daily News Flash, 12th November, 2017 -  · PDF filebanglalink's revenue falls 4.57pc in q3 ... banks lack remedial strategy while npl rises worryingly

Daily News Flash 12th November 2017

22

Shafiul Islam Mohiuddin president of the Federation of Bangladesh Chambers of Commerce and Industry said the governmentrsquos support is a must to create a strong manufacturing base for export diversification ldquoSkill development measures may also play a vital part in this regardrdquo Addressing the event as the chief guest Commerce Minister Tofail Ahmed said export diversification depends on businessmenrsquos initiatives He however pledged all necessary support from the government for export diversification to meet the countryrsquos $60 billion export target by 2021 BEI President Farooq Sobhan emphasised engaging the private sector in relevant policy discourses to achieve the target ldquoA private sector-oriented policy mechanism is very important as rapid changes are taking place in the global trade landscape Understanding implications and generating timely policy responses to unfolding developments will be meaningful only when the private sector is able to benefit from themrdquo said Sobhan Among others Mustafizur Rahman a fellow at the Centre for Policy Dialogue Kazi M Aminul Islam executive chairman of Bangladesh Investment Development Authority Bijoy Bhattacharjee vice chairman of Bangladesh Export Promotion Bureau and Md Nojibur Rahman chairman of the National Board of Revenue also spoke Source httpwwwdhakatribunecombusinesseconomy20171109policy-support-must-diversify-export-basket

BANKS LACK REMEDIAL STRATEGY WHILE NPL RISES WORRYINGLY Some of Bangladeshs banks dont have in-depth look into the problem of spiraling non-performing loans (NPL) while many others try to frame remedial strategies perfunctorily Such observations came out from studies on banking as well as financial sector at large as the NPL surge worries many quarters One finding shows that around 11 per cent of the countrys banks did not have an in-depth look into the issue of NPLs in the past year despite a growing concern over the problem in the financial arena The recent industry-wide survey also revealed that around 30 per cent of the countrys banks had not assessed their past NPL-reduction strategies at all while 36 per cent did so only on an ad-hoc basis The findings came out from the survey of the Chief Risk Officers at the banks on issues concerning NPL strategy in their institutions Leading banking research and training institution Bangladesh Institute of Bank Management (BIBM) conducted the study The research findings come at a time when the ballooning NPLs is becoming a major issue with the countrys banking industry and also triggering concerns and criticisms As per the central bank data the volume of NPLs had increased by more than 21 per cent to Tk 62172 billion by the end of 2016 swelling from Tk 51371 billion a year before The findings are genuinely surprising as we are struggling to find a bank for which NPL is not an issue in some capacity said Sazib Azad Senior Advisor of BIBM who led the research initiative Furthermore if the bank itself is immune to the impact of NPL even then they need to consider whether they are immune from structural or market-level impacts as well he told the FE However relevant survey results show the potential lack of such considerations as only 10 per cent of bank CROs taking part in the survey said that their banks are addressing potential dependence on market assessment and strategy What is more surprising is that the NPL strategies of around 62 per cent of the banks are not signed off by the boards the survey found

Daily News Flash 12th November 2017

23

This is quite striking because given the severity of the non-performing-loan issue the NPL strategy should be signed off by the boards Mr Azad said adding Boards are not only accountable for the health of the banks but are also in position to release resources to get to grips with the issue In addition the survey result also revealed 31 per cent of the banks not communicating their NPL strategy across the bank NPL as an issue needs to be addressed from ground up But the results show that this is not happening at our banks said an expert who was involved with research Meanwhile 25 per cent of the CROs said they were not tracking the implementation and effectiveness of NPL strategy in their banks- something which according to experts is a cause of concern Given how critical an issue NPL exposure is we would expect every CRO to track how the NPL strategy is being implemented its effectiveness and how to improve matters to the Board Risk Committee and the Board the banking experts said Meanwhile the survey results also found that although 94 per cent of the banks had stress-tested their balance sheet in terms of NPL drag this figure drops to 56 per cent while considering the impact to and from the wider economy market and structural aspects It seems that 33 per cent of the banks do not formally consider this aspect with a further 11 per cent not looking at this dimension at all the researchers said Experts also noted that with Basel 3 farther putting capital under pressure sensible banks should dynamically model the impact of key risks to their capital However the survey results show 17 per cent of the banks are not doing so while 31 per cent doing it in a limited manner Asked whether their banks risk-appetite-statement metrics reflected their NPL strategy 36 per cent of the respondents said they do so in a limited capacity while a further 80 per cent are not doing that at all It was also found that 25 per cent of the C-Suites have specific NPL-strategy-related targets while 31 per cent of the CROs have the same Meanwhile when asked whether they consider their NPL strategy to be embedded just over half of them or 52 per cent of the survey participants said Yes This according to experts is clearly not fit for purpose given the severity of the NPL issue facing the banking sector The first step in looking into the NPL issue is to assess internal capabilities to effectively manage NPLs Next external conditions or operating environment needs to be considered Finally the capital implications of the NPL strategy need to be analyzed said Sajib Azad The findings of the survey will be shared with the stakeholders during the next CRO forum of BIBM expected to take place next month where the issue of Risk Culture will also figure high The biggest reason for the swelling of NPL in our banking sector is a lack of good governance To check the ballooning of NPL the internal governance of the banks has to be strengthened above all Director-General of BIBM Toufic Ahmad Choudhury said Meanwhile the survey also found banks tending to consider time-horizon portfolio segment and exposure-level-based targets to be broadly equally important to their NPL strategy In terms of options preferred for reducing NPL banks consider change of exposure type to be most effective (36 per cent) followed by active portfolio reductions (33 per cent) and hold forbearance (31 pe rcent) Source httptodaythefinancialexpresscombdfirst-pagebanks-lack-remedial-strategy-while-npl-rises-worryingly-1510417700

GOVT SEEKS US$183B UNDER 39TH JAPANESE ODA PACKAGE The government has sought around US$183 billion worth of assistance from Japan for bankrolling six development projects officials said Saturday

Daily News Flash 12th November 2017

24

Officials at the Ministry of Finance (MoF) said they have already discussed the issue with the Japan International Cooperation Agency (JICA) We are hopeful of receiving funds under its upcoming 39th Official Development Assistance (ODA) package to finance six development projects a senior MoF official told the FE He said a JICA mission in September-October last completed its visit to Bangladesh to explore the possibilities of financing the proposed projects We are hopeful of signing the 39th ODA package with JICA within a couple of months he said After signing the loan deal the largest bilateral donor will start disbursement of funds from the proposed $183 billion aid package for the six development projects the MoF official added The proposed six projects under the 39th ODA package are Matarbari port development Dhaka MRT line-6 construction (phase-III) Dhaka MRT line -5 feasibility study Matarbari ultra super critical coal-fired power plant (phase-IV) Jamuna Railway Bridge construction and Health service strengthening project A senior official of Economic Relations Division said the proposed 39th ODA package will be very useful for Bangladesh as it will be utilised to develop the Matarbari port ongoing Matarbari power plant project conduct feasibility study and detailed design of the MRT line-5 in Dhaka and to construct railway bridge over the River Jamuna All of these projects are very important for the country to ensure smooth transportation and uninterrupted power supply he added Japan is the largest bilateral development partner of Bangladesh Over last 5-6 years it has enhanced its aid with confirmation of more than US$10 billion worth of funds under each of the aid packages In the last 38th ODA package signed in June 2017 JICA provided Yen 178223 billion ($164 billion) for utilising in six development projects on transport infrastructure power and water sector improvement works In June 2016 Japan signed the 37th ODA deal worth $150 billion (17354 billion Japanese Yen) with Bangladesh and in December 2015 it inked the 36th ODA package confirming $12 billion concessional loan for six development projects Under the last 38th ODA package JICA offered $700 million (Yen 76825 billion) for Hazrat Shahjalal International Airport Expansion project $480 million (Yen 5273 billion) for 2nd Kanchpur Meghna and Gumti bridges construction $50 million (Yen 5593 billion) for Dhaka Mass Rapid Transit development project (Line 1) $100 million (Yen 10745 billion) for Matarbari ultra super critical coal-fired power plant $190 million (Yen 20477 billion) for Dhaka underground substation construction project and $110 million (Yen 11853 billion) loan for small scale water resources development project Japan has so far provided Bangladesh with nearly US$12 billion in assistance since the financial year (FY) 1971-72 Source httptodaythefinancialexpresscombdfirst-pagegovt-seeks-us183b-under-39th-japanese-oda-package-1510417739

SUMMIT GROUP ENTITIES TO ISSUE PREFERENCE SHARES WORTH $1250M A subscription closing ceremony to raise capital through issuance of preference shares worth BDT 1000 million (USD 1250 million) for Summit Barisal Power Limited amp Summit Narayanganj Power Unit II Limited was held recently at Pan Pacific Sonargaon Dhaka said a statement LankaBangla Finance Limited acted as the Mandated Arranger LankaBangla Investments Limited acted as the Issue Manager and The City Bank Limited acted as the Agent Account Bank amp Custodian Bank to raise the fund In the event Mr Lt Gen (Retd) Engr Abdul Wadud Managing Director of Summit Barisal Power Limited amp Summit Narayanganj Power Unit II Limited Mr Khwaja Shahriar Managing Director amp

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CEO of LankaBangla Finance Limited Mr Mohammed Nasir Uddin Chowdhury Managing Director of LankaBangla Capital Market Operations Mr Mominul Islam Managing Director amp CEO of IPDC Finance Limited Mr R Q M Forkan Managing Director amp CEO of Bangladesh Commerce Bank Limited Mr Faruq M Ahmed Additional Managing Director of Trust Bank Limited Mr Akthar Hamid Khan Deputy Managing Director of Pubali Bank Limited Mr Arif Hasan Khan Vice President of Modhumoti Bank Limited Mr Mohammad Ibrahim Khalil FCA Vice President amp CFO of Bank Asia Limited and Mr Mahbub Jamil Vice President and Head of Structured Finance of The City Bank Limited along with other senior officials from the companies were present Source httptodaythefinancialexpresscombdstock-corporatesummit-group-entities-to-issue-preference-shares-worth-1250m-1510411878

BMBA URGES MUHITH TO EXEMPT INVESTMENTS BY MF SPONSORS Bangladesh Merchant Bankers Association (BMBA) has urged the finance minister to exclude some components including sponsors investments in mutual funds (MFs) from the banks exposure to the capital market It made the request for ensuring an environment conducive to gradual development of the capital market according to a proposal submitted to Finance Minister AMA Muhith last week The BMBA said the long-term or strategic investments needed to be excluded while calculating the exposure as these investments were not intended for frequent trading Non-convertible preference shares and non-listed securities also need to be excluded from the capital market exposure as it will never influence the capital market volatility it said in a letter to the minister According to the letter the MFs are passive investments where investors themselves are not involved in investment decision making and such fund portfolios are mostly of long-term nature than frequent trading On the other hand the sponsors of the MFs need to hold 10 per cent of the investment until liquidation of the fund So considering the fact the sponsors portions in MFs need to be excluded from the banks capital exposure said the BMBA proposal As per the Banking Act 1991 it said reporting requirement is on solo basis but the central bank has introduced consolidated calculation which is of dual effectdouble counting in the market exposure This kind of restrictive measure creates panic situation in the market and may hinder the potentials and prospects of the capital market as a whole the BMBA said It also said that this kind of practice needed to be stopped as such requirements and reporting practice would further squeeze the market and that the investors would lose their interest The BMBA said some organisations have invested on strategic purpose and were holding positions in the board and their exposure increased with rising the market price of MF units On the other hand in compliance with the securities rules they are unable to sell shares to reduce exposure the BMBA said terming the situation complicated In its letter the BMBA said that the capital market exposure of some banks and financial institutions increased without fresh investments following the upward trend of the market price as the exposure is calculated on the basis of market price If the banks need to go for selling off their excess exposure this will create unnecessary selling pressure on the market said the BMBA The association requested the finance minister to consider their proposal to facilitate the growth of the capital market by its own strength and prospect Source httptodaythefinancialexpresscombdstock-corporatebmba-urges-muhith-to-exempt-investments-by-mf-sponsors-1510411950

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ATIUR STRESSES ROLE OF REGULATORS IN DIGITAL FINANCIAL INCLUSION Former Bangladesh Bank Governor Dr Atiur Rahman chairs a session at the 5th Biennial Competition Regulation and Development Conference at Jaipur in India on Thursday Success of digital financial inclusion depends on the prudent role of the regulating bodies to a great extent And the recent progress in Bangladesh in this regard is a good example for the rest of the world to follow said Dr Atiur Rahman former governor of Bangladesh Bank says a statement He was chairing a session at the 5th Biennial Competition Regulation and Development Conference at Jaipur India on Thursday The three-day conference is being hosted by CUTS International and OECD Speakers of the session included Ravinder S Aurora Senior Vice President of Mastercard David Ongolo Kenyan Competition Authority and Dr A K EnamulHaque Professor of East West University Dhaka Many developing countries survived and even thrived during the last global financial crisis because they chose to follow a broad-based financial inclusion strategy And digital solutions played a crucial role in this financial inclusion drive said Dr Rahman He added that service providers must focus on reaching out to the customers in the rural socio-economic conditions Dr Rahman said that experience from Bangladesh can answer many of the burning questions regarding digital financial inclusion The central bank of the country has facilitated bank-led digitisation drive Be it Mobile Financial Service or be it Agent Banking the Bangladesh Bank has encouraged traditional players (ie the commercial banks) to lead the way And it has been proven to be very successful He also said that the world is witnessing only the beginning of the digital finance revolution Hence we must learn from all these experiments share our experiences and know-hows Only then we can work towards shaping global standards and practices Dr Rahman finally asked all central banks to be more proactive and collaborative with other stakeholders including non-traditional financial service providers to facilitate orderly development of digital financial inclusion so that consumers interests are better protected The grievance redressal mechanism developed in Bangladesh Bank with infusion of state of the art technology to gain trust of the customers in financial inclusion was also discussed widely in the session The panelists highly appreciated Bangladeshs regulatory move with public interest in mind using latest technology for replicable digital financial inclusion Source httptodaythefinancialexpresscombdtrade-marketatiur-stresses-role-of-regulators-in-digital-financial-inclusion-1510416319

FAO FEARS NEGATIVE BD FOOD OUTPUT GROWTH ON FLOODING Recent flooding has dampened the outlook for Bangladesh a likely third successive season of little or negative food production growth mainly rice reports UNB quoting FAO Barring major setbacks production recoveries could instead permit Bangladesh and Sri Lanka to slightly lower their 2018 imports to 11 million and 450 000 tonnes respectively according to the latest Food Outlook published by the UN Food and Agriculture Organisation (FAO) Among other rice importers Bangladesh Iraq Nigeria and the Philippines are all similarly predicted to replenish their inventories according to the report a copy of which obtained by the news agency These gains are however likely to be offset by stock reductions in the Republic of Korea Madagascar Sri Lanka and the United Republic of Tanzania all linked to output shortfalls Although the use of rice as animal feed is being sustained by the release of supplies from government granaries in Japan the Republic of Korea and Thailand more affordable feedstuffs are expected to displace rice in most other countries especially in Bangladesh China (Mainland) and Vietnam

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Since the previous Food Outlook report a series of unfavourable climate-related events have affected main paddy crops in the Northern Hemisphere which have now reached the harvesting stage This has been the case in Asia where unlike 2016 the critical Northern Hemisphere summer months were characterised by mixed growing conditions that inhibited planting expansions As a result FAOs latest forecast of world rice production in 2017 points to a broadly stable output level of 5008 million tonnes Production in Asia is now forecast to fall 550 000 tonnes below the 2016 bumper harvest to 4525 million tonnes The UN agriculture agency has said the cost of importing food is rising in 2017 driven by increased international demand for most food stuffs as well as higher freight charges The cost of importing food is forecast to rise six per cent in 2017 to $1413 trillion making it the second highest bill on record while food commodity prices have been generally stable according to the latest Food Outlook that expressed concern about the economic and social impact of this trend on poor countries Although weather disruptions are set to stall production growth this season global rice supplies are still forecast to exceed utilisation enabling a small expansion of world rice inventories Global trade is expected to rise only modestly in 2018 after staging an 8 per cent recovery in 2017 The food import bills are set to increase by double-digit rates for least-developed countries (LDCs) and low-income food-deficit countries Aromatic rice varieties have risen eight times faster than the FAO All Rice Index which is up four per cent on the year However the higher import costs come at a time when inventories are robust harvest forecasts are strong and food commodity markets remain well supplied The export of tropical fruits is promising for poverty relief and rural development as almost all production takes place in developing countries The export volumes of mango pineapple avocado and papayas are on course to achieve a total combined value of $10 billion this year according to the Food Outlook Source httptodaythefinancialexpresscombdfirst-pagefao-fears-negative-bd-food-output-growth-on-flooding-1510336161date=11-11-2017

STOCKS NUDGE HIGHER AS BANK TELECOM ISSUES SURGE Stocks extended the winning streak for the two consecutive weeks that ended Thursday as enthusiastic investors continued their buying appetite on bank and telecommunication issues Market operators said the positive momentum in some large-cap issues especially from banking telecom pharmaceuticals and food amp allied sectors helped the bourse to stay upbeat The banking sector posted the highest return of 445 per cent as 27 out of 30 listed banks ticked higher Four banks gained more than 10 per cent each The telecom sector also surged 342 per cent as Grameenphone the countrys largest market-cap listed companys shares price jumped 40 per cent to close at Tk 45690 each The market extended the winning streak riding on heavyweight bank and telecom issues said an analyst at a leading brokerage firm The week featured five trading sessions as usual Of them first session saw marginal correction while last four closed higher Week-on-week DSEX the prime index of the Dhaka Stock Exchange (DSE) jacked up by 9454 points or 155 per cent to finish at 6193 The two other indices -- the DS30 index and the DSE Shariah Index (DSES) - also closed higher at 2244 and 1341 points

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Both the indices added 4264 points and 1218 points respectively During the week banking pharmaceuticals and telecommunication sector stocks contributed more to keep the market up commented City Bank Capital Resources a merchant bank in its weekly analysis The port city bourse Chittagong Stock Exchange (CSE) also ended higher The CSCX advanced 180 points or 156 per cent to finish at 11618 International Leasing Securities a stockbroker noted that the market observed an upbeat vibe throughout the week riding on the news of soaring of net foreign investment in the capital market in the first 10 months of 2017 compared to the same period of last year Net position of foreign portfolio with the DSE stood at Tk 1623 billion in January-October compared to Tk 80 billion in the same period a year ago However some investors were reshuffling their portfolios after observing the year-end corporate declarations and first quarter earning disclosures the stockbroker added According to EBL Securities The market witnessed an upbeat tune throughout the week riding on regained confidence among the market participants The stockbroker noted that preferable year-end and quarter-end earnings declarations by several companies helped them to remain positive about market The total turnover for the week amounted to Tk 3591 billion on the DSE which was Tk 3027 billion in the week before The daily turnover averaged Tk 718 billion which was nearly 19 per cent higher than the previous weeks average of Tk 605 billion Block trade accounted for 16 per cent of the total weekly turnover where stocks like BATBC Beximco Pharma Shahjalal Islami Bank Square Pharma and Singer Bangladesh dominated the block trade board Banking sector kept its dominance over the turnover chart grabbing 35 per cent of the weeks total transaction followed by engineering with 18 per cent and pharmaceuticals 11 per cent Out of 336 issues traded 207 closed lower 116 ended higher and 13 issues remained unchanged on the DSE trading floor during the week The market capitalisation of the DSE rose 137 per cent as it was Tk 4123 billion on the opening day of the week and it stood at Tk 4179 billion on closing day of the week City Bank topped the weeks turnover chart with 5390 million shares worth Tk 184 billion changing hands followed by IFAD Autos with Tk 121 billion Brac Bank Tk 10 billion LankaBangla Finance Tk 994 million and Dhaka Bank Tk 926 million Reckitt Benckiser was the weeks best performer posting a gain of 1925 per cent while Stylecraft was the weeks worst loser slumping by 3322 per cent A new issue - Oimex Electrode-- made debut last week and soared 1042 per cent from its offer price of Tk 10 in the first trading day on Monday Source httptodaythefinancialexpresscombdstock-corporatestocks-nudge-higher-as-bank-telecom-issues-surge-1510332934date=11-11-2017

BANGLADESH GROWING AS DENIM HUB The growing global demand for fashionable denim wear encouraged both local and foreign entrepreneurs to make fresh investment in Bangladesh participants and organisers of Bangladesh Denim Expo have said Many of the 30 local denim mills are going for expansion while a couple more will come into operation with fresh investment within next two or three years they said Some foreign companies are opening offices or setting up factories in Bangladesh they added The seventh edition of the two-day Bangladesh Denim Expo was held in the city recently with the theme transparency to highlight the need for transparency in the entire denim supply chain

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A total of 65 exhibitors from 12 countries participated in the show while more than 12 thousand visitors from across the world registered online to attend the two-day expo organisers said Talking to the FE on the sidelines of the expo Md Khalid Mosharof assistant general manager at Dekko Group said the group invested Tk 15 million in setting up a new factory of 44 lines at Ashulia that would go for denim item production in June next The main reason is to tap the growing global demand he said Echoing him Syeed Ahmed Chowdhury general manager operation at Square Denim said the company expanded its denim fabric production capacity to 30 million yards from the existing 15 million yards per month mainly to meet the demand He however opined that the expansion is taking place more in garment segments than in fabric production There is no alternative to expansion to sustain the existing business and achieve the $50 billion garment export earnings target by 2021 Sharif Zahir managing director of Ananta Group said stressing the need for positive branding of the sector Meanwhile Landes a German denim accessories maker started production in its new factory at Savar from this month It invested US $05 million We opened the factory in Bangladesh as we think this is the hub for denim business and there is a lot of business prospects here Manfred Slowik chief operating officer of Landes told the FE at his stall at the expo By the end of next year the total workforce in our new plant will be 120 people as we are recruiting new people from existing 30 Mr Slowik said Landes has a target to produce 500 million pieces of leather patches used in denim trousers as accessories in a year at its Savar plant from where such accessories will be supplied to the whole Asian region Many big brands like HampM VF and Walmart are their customers he said Nezahat Boni senior account manager of Orta a Turkish denim maker said her company supplies 30 million metres of denim fabrics in Bangladesh in a year against only 800 meters in 2011 We opened an office in Bangladesh in 2011 as we cannot ignore the importance of this country as a denim hub she said Prosperity Textile a Chinese company opened its office in Dhaka last year said Md Mujibul Hoque the companys Bangladesh Sales Director The company has targeted sale of 100 million yards a year across the globe while it also targets 30-40 per cent of their sales in Bangladesh Bangladesh is now the top denim products supplier to the European Union overtaking China and third largest to the US after China and Mexico industry people said Bangladesh supplies denim products to major global buyers and retailers including levis G-Star Raw HampM Tesco Wrangler Hugo Boss Walmart and Gap Source httptodaythefinancialexpresscombdtrade-marketbangladesh-growing-as-denim-hub-1510332061date=11-11-2017

EXPORTS UP 70PC IN JULY-OCTOBER Countrys export earnings grew by 703 per cent to US$1150 billion during first four months of the current fiscal year (FY 2017-18) according to official data released Thursday The earnings were $1079 billion in the same period (July-October) last FY In October 2017 the exports grew by 642 per cent to $284 billion the Export Promotion Bureau (EPB) data showed The overall exports in the first four months slightly (074 per cent) fell short of the periods target In October however the exports were 628 per cent higher than the months strategic target Readymade garment shipments fetched $943 billion marking 699 per cent growth during the period as compared to $882 billion in the same period of last FY

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The woven items registered 385 per cent growth in earnings to $445 billion than that of $428 billion in the same period of FY 2016-17 The earnings from knitwear export during the period grew by 995 per cent to $498 billion from $453 billion in the corresponding period of last FY Jute and jute goods exports rose by 1646 per cent to $34501 million from $29626 million in the same period of FY17 The earnings from agriculture products grew by 2022 per cent during the period while home textiles by 2037 per cent The earnings from leather and leather products however fell marginally by 002 per cent to $42844 million during the period than that of $42851 million in the same period last FY The export earnings from frozen food and live fish grew by 1541 per cent to $22691 million from $19661 million of the corresponding period of last fiscal Mahmud Hasan Khan vice president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) said the exports in the first four months of the current fiscal year fell short of the expected growth mainly because of failure in maintaining the lead time and short supply of gas and electricity Terming the knitwears growth satisfactory he said woven items manufacturers have been struggling to cope with the new challenge as buyers were reducing the volume of orders due to failure in meeting the lead time Without efficient port and strong backward linkage industry especially for the woven sub-sector it will be difficult for the sub-sector to bounce back he feared He pointed out that maximum of the woven fabric requirements were being met through imports But it was taking too much time to clear the imported fabrics and additional charges as a result at the Chittagong seaport that was facing unbearable congestion The government should provide necessary policy support to the exporters to establish strong backward linkage industry for the woven sub-sector he added Source httptodaythefinancialexpresscombdfirst-pageexports-up-70pc-in-july-october-1510248870date=10-11-2017

GAS CRISIS HURTING OUTPUT IN INDUSTRIAL BELT Factories in the countrys Tongi-Gazipur industrial belt have been facing acute gas crisis over the past few months following diversion of gas to upstream power plants The crisis has deteriorated further this week albeit some improvements for a few days last week said local industrialists and businessmen According to them if the ongoing gas crisis persists they may be forced to shut down their factories Officials of the Titas Gas Transmission and Distribution Company Limited (TGTDCL) however blamed the Petrobangla for the gas crunch Sources concerned say the industrial belt of Tongi-Gazipur is suffering badly for about four to five months from low pressure of gas coupled with poor electricity voltage -- often resulting in huge volume of industrial wastages and reduction of production efficiency According to the industry insiders a factory in the industrial belt requires 04 PSI (production per square inch) as optimum gas pressure but the pressure at times comes down to as low as 01 PSI these days -- especially during the daytime Gas pressure in the area becomes normal around 10pm11pm and stays for not more than 08 hours until 6am7am an entrepreneur of the industrial belt informed Asked an official of Titas said they are at present getting nearly 250 million cubic meters (MCM) less in recent weeks against their current demand of 1800 MCM gas in Titas franchise The downstream Titas franchise area covers greater Dhaka region which includes Gazipur alongside some other adjoining districts and greater Mymensingh he said

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A Petrobangla source however cited gas supply on priority basis to a number of upstream projects including power plants as reason behind supply shortage When asked Managing Director of Akij Group Sk Bashir Uddin termed the situation really worrisome According to him two of Akij Group companies situated in the area -- Akij Printing amp Packages Limited and Dhaka Tobacco Industries -- jointly contributed nearly Tk 35 billion (3500 crore) to the national exchequer in the 2016-17 fiscal year But were very much worried about our industrial output this year as production disruption following the twin crises involving gas supply and power supply Both will eventually disrupt our retail business in every phase he quipped This often results in a high rate of industrial wastage and reduction of production efficiency he added Bangladesh Auto Re-rolling Steel Mills amp Association Chairman Manwar Hossain who is also Anwar Group Managing Director echoed the same concern Factories in the industrial belt are now operating at one-third of their capacity which may lead to labour unrest and default of huge sum of bank loans he said Such disruption of production he cautions may even cause sudden shutdown of factories According to him none of the victims in that case will be the wilful defaulters -- they will be the victims of circumstances The businessman who has a steel factory called Anwar Ispat Limited in the industrial belt called for immediate introduction of ECM (electronically controlled meters) to check unabated gas engineering in the area which he deems to be yet another reason for gas supply crunch Titas officials according to him are encouraging co-generation scheme to help address the severe gas crisis But he said co-generation will require stable and smooth gas supply Government should ensure at least 10-15 years of smooth gas supply to encourage co-generation as what he said any industrial investment requires 20 years of payback period TGTDCL Deputy Managing Director Engineer Abdul Wahab Talukdar who is also the Project Director of Sripur-Joydevpur Transmission Pipeline Project said We cannot do anything to address the crisis if there is a lack of adequate gas supply Mentioning that all factories in the industrial belt are like my babies he unequivocally said Titas is not at fault He also admitted that priority-based power plants gas supply being the reason behind the current spell of gas crunch We have already started introducing electronic volumetric corrector (EVC) to stop illegal gas use in the area he said Factories he added should go for co-generation scheme for protecting their own interest Co-generation means utilising and absorbing heat generated from gas generators which Mr Wahab said will save energy A section of the businessmen however called for stopping fertiliser production and distributing the same among people at a subsidised price after importing it to facilitate smooth supply of gas to other industries Even if the government stops fertiliser production and opts for importing it for distribution at a subsidised rate there will only be an insignificant loss compared to the overall losses now being incurred said an industrialist who has more than one factory in the industrial belt Local sources said illegal and unapproved gas connections in various industries in and around the zone are also affecting gas supply badly among other reasons Source httptodaythefinancialexpresscombdfirst-pagegas-crisis-hurting-output-in-industrial-belt-1510249018date=10-11-2017

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SINGLE PERSON MAY FORM COMPANY A single person may form a commercial firm under a provision of the companies law being updated along with some other major business-stimulating measures Official sources said the government is considering incorporating some new provisions including one allowing individuals to form any company into the updated Companies Act The other provisions are formation of an appellate tribunal to resolve legal matters without wasting much time widespread automation of companies work and submission of annual company reports online Earlier the Ministry of Commerce (MoC) had received some recommendations from the stakeholders on how to update the law they added We got most of the recommendations from the stakeholders We hope we will be able to prepare the draft Companies Act within a month Md Obaidul Azam director trade organisations (DTO) told the FE He said the recommendations the ministry had received so far were being scrutinised before preparing a draft for updating the companies act Earlier different trade bodies had sent their respective recommendations to the MoC for incorporation into the law The MoC will hold a meeting with the countrys apex trade body after assessing the recommendations and suggestions the ministry official said Talking to the FE a leader of an influential trade body said they had sent some recommendationssuggestions to the MoC for the new Companies Act for betterment of the countrys trade and business According to Section 2 (1) (c) of the Companies Act 1994 Company means a company formed and registered under this Act or an existing company Thus a company is an association of persons formed under the Companies Act 1994 with a view to achieving some common objectives Though a company is regarded a legal person it possesses similar rights and owes similar obligations like a natural person Now any individual fulfilling the new criteria may be allowed to form a firm Source httptodaythefinancialexpresscombdfirst-pagesingle-person-may-form-company-1510249090date=10-11-2017

DSE TURNOVER CROSSES TK 80 BILLION MARK The daily turnover on Dhaka Stock Exchange (DSE) exceeded the Tk 80 billion mark on Thursday as investors took fresh exposure to the banking sector Turnover a crucial indicator of the market reached Tk 870 billion on the countrys premier bourse jumping 14 per cent from the previous days transaction of Tk 765 billion It was the biggest single-day transaction since October 11 when the turnover totalled a record Tk 1092 billion Along with rising turnover DSEX the prime index of the Dhaka bourse continued to keep its gaining momentum closing 3449 points higher at 6193 points DSEX which replaced the DGEN in nearly five years back added more than 121 points or 20 per cent in the past four consecutive sessions The two other indices -- the DS30 index and the DSE Shariah Index (DSES) -- also followed suit to end at 2244 and 1341 points after gaining 1422 points and 443 points respectively Brokers said the market maintained the bullish trend for the four straight sessions as the enthusiastic investors chased the banking sector stocks The market continued the bullish trend for the four consecutive sessions as the enthusiastic investors were active for the banking food and engineering sector stocks commented EBL Securities a stockbroker in its regular market analysis

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It noted that the core index remained positive throughout the session as optimistic investors kept buying sector-wise stocks while some rebalanced their portfolios Meanwhile share price of newly listed Oimex Electrode continued to decline for the three consecutive sessions after unusual hike during its debut trading on Monday The companys share price fell 763 per cent to close at Tk 9810 on Thursday after jumping more than tenfold during the debut trading which experts termed unusual Block trade contributed Tk 241 million to the days total turnover with stocks like BATBC Square Pharmaceuticals Singer Bangladesh and Beximco Pharma dominating the block trade board Among the major sectors pharmaceuticals posted the highest gain of 122 per cent followed by banking sector (083 per cent) food amp allied (067 per cent) engineering (033 per cent) financial institutions (003 per cent) and power (003 per cent) Only telecommunication sector faced a 045 per cent correction A total number of 0140 million trades were executed in the days trading session with trading volume totalling 23171 million securities The total market capitalisation of the DSE stood at Tk 4179 billion against Tk 4168 billion in the previous session Losers however took a modest lead over the gainers as out of 325 issues traded 140 closed lower 130 closed higher and 55 remained unchanged on the DSE trading floor City Bank dominated the turnover chart for the second day in a row with 1035 million shares changing hands closely followed by Dhaka Bank LankaBangla Finance Brac Bank and Keya Cosmetics Reckitt Benckiser was also the days best performer posting a gain of 624 per cent while Qasem Drycells was the days biggest loser shedding 1235 per cent The port city bourse Chittagong Stock Exchange (CSE) also ended higher with its Selective Categories Index -- CSCX --gaining more than 62 points to close at 11618 Losers beat gainers as 113 issues closed lower 97 closed higher and 37 remained unchanged on the CSE The port city bourse traded 1604 million shares and mutual fund units generating a turnover of Tk 483 million Source httptodaythefinancialexpresscombdstock-corporatedse-turnover-crosses-tk-80-billion-mark-1510245247date=10-11-2017

TEN COS GRAB 32PC TURNOVER ON DSE The banking sector continued to dominate the transaction chart of the Dhaka Stock Exchange (DSE) accounting for 39 per cent of the total turnover on Thursday Four banks made their way to the top 10 turnover chart with City Bank leading the chart for the second day in a row Brokers said the investors chased the banking sector issues as more than 63 per cent of listed banks showed positive earnings in the third quarter (July-September period) Meanwhile top 10 traded companies including four banks grabbed more than 32 per cent of turnover on the Dhaka bourse The total turnover on the premier bourse reached Tk 870 billion up 14 per cent from the previous days Tk 765 billion The most active shares in terms of value included City Bank Dhaka Bank LankaBangla Finance Brac Bank Keya Cosmetics Square Pharmaceuticals Beximco Pharmaceuticals IFAD Autos Exim Bank and IDLC Finance According to statistics available with the DSE about 1035 million shares of City Bank were traded generating a turnover of Tk 553 million or 635 per cent of the total transactions

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The companys share price hovered between Tk 5240 and Tk 5440 before closing at Tk 5390 advancing 228 per cent over the previous session Dhaka Bank came in next with shares of Tk 395 million changing hands contributing 454 per cent to the total turnover The banks share price closed 347 per cent higher at Tk 2380 LankaBangla notched the third spot with shares of Tk 266 million changing hands making up 305 per cent of the total turnover Its share price ended 063 per cent higher at Tk 6430 Brac Bank emerged the fourth with shares of Tk 257 million changing hands grabbing 295 per cent of the total turnover The banks share price settled 123 per cent higher at Tk 107 Keya Cosmetics featured a turnover of Tk 247 million or 284 per cent of the total turnover Its share price closed 201 per cent higher at Tk 1520 The turnover of Square Pharma was Tk 241 million or 276 per cent of the total transaction Its share price ended 612 per cent down at Tk 27890 Beximco Pharma featured a turnover of Tk 211 million or 242 per cent of the total turnover Its share price advanced 428 per cent to close at Tk 10960 The turnover of IFAD was Tk 208 million accounting for 238 per cent of the total turnover Its share price closed at Tk 14070 gaining 195 per cent Exim Bank featured a turnover of Tk 196 million or 225 per cent of the total transaction The banks share price inched up 055 per cent to close at Tk 1830 IDLC also made its way to the top ten turnover chart with shares of Tk 188 million changing hands Its share price closed 223 per cent higher at Tk 9150 Source httptodaythefinancialexpresscombdstock-corporateten-cos-grab-32pc-turnover-on-dse-1510245290date=10-11-2017

FOREIGN INVESTMENT HIKE INFO DRIVES MODERATE GAINS ON DSE The Dhaka bourse Thursday closed the session posting a moderate rise in the broad index and turnover amid mixed performance displayed by major sectors On the day most of the major sectors declined but the turnover crossed Tk 80 billion-mark after two sessions on Dhaka Stock Exchange (DSE) mainly because of investors increased participation in the banking sector According to a market review of International Leasing Securities positive momentum in some big-cap stocks especially from bank food and engineering sectors helped the bourse to close in green The market started the session with a positive note and the DSE broad index DSEX witnessed little ups and downs before closing higher According to AT Capital Partners the market remained sideways till the midsession The DSEX rose again in the second half of the session and closed at 61936 up by 345 points The shariah based index DSES and blue chip index DS30 also rose marginally The turnover stood at above Tk 870 billion which was 1370 per cent higher than the turnover of the previous session The confident drive was initiated by the investors buying spree riding on the news of doubling net foreign investment in stocks year-on-year in the first ten months of 2017 said the International Leasing SecuritiesAmong the gaining sectors bank advanced 08 per cent and engineering 03 per cent Of the losing sectors pharmaceuticals amp chemicals declined 11 per cent telecommunication 05 per cent and textiles 09 per cent The banking sector grabbed 384 per cent of the market turnover at the premier bourse DSECity Bank topped the turnover chart with a value of Tk 553 million followed by Dhaka Bank LankaBangla Finance BRAC Bank and Keya CosmeticsReckitt Benckiser (Bd) limited topped the gainers chart with a rise of 624 per cent to close at Tk 18456 while Quasem Drycells was the worst loser after declining 1235 per cent to close at Tk 8230 Source httptodaythefinancialexpresscombdstock-corporateforeign-investment-hike-info-drives-moderate-gains-on-dse-1510245365date=10-11-2017

Daily News Flash 12th November 2017

35

MORE JAPANESE COMPANIES SEEK TO INVEST IN BANGLADESH Japanese Ambassador to Bangladesh Hiroyasu Izumi has said the Japanese investors are keen to invest in Bangladesh considering the lucrative offer and ideal atmosphere for foreign investment reports BSS The Japanese investors expressed more interest to invest in Bangladesh at recently-held the third round of Public-Private Economic Dialogue between Bangladesh and Japan he said while visiting the Chittagong Export Processing Zone (CEPZ) on Thursday The envoy expressed the hopes that Japanese investment in the Export Processing Zones (EPZs) will increase after the successful dialogue said a press release More and more Japanese companies will come to invest in this country he added General Manager of CEPZ Khorshid Alam maed a PowerPoint presentation highlighting the overall scenario of EPZ as well as Bangladesh Export Processing Zone Authority (BEPZA) Mentioning Bangladesh EPZs as the Bonanza for Investors he said investors from 38 countries have set up industries in the EPZs and invested US $442 billion He informed the ambassador that BEPZA has ensured three layer security system including 24-hour CCTV surveillance in the key points of EPZ and factory premises for the safety of the investors Source httptodaythefinancialexpresscombdtrade-marketmore-japanese-companies-seek-to-invest-in-bangladesh-1510250285date=10-11-2017

Source httpwwwarthosuchakcomarchives388209

১৬০

১১৫ ৪ ৫ ১০ ২০

৩০ ( )

( )

৩০ ২০১৭ ১৫

৩ ও ১২

২ ১৪ ( ) ৩৪

২৪

Source httpwwwarthosuchakcomarchives388257

Daily News Flash 12th November 2017

36

৫৩ ( ) ১৫ ও ২

১ ১ ৪৩ ২১০ ৫৩ ৪৪

৩২ ৫০

৮ ৫৮

২০

১ ২৪

৯ ২৭ ৫৫৫ ৯ ৩৮

-

Source httpwwwarthosuchakcomarchives388125

৩৫ ( ) ৩৫

২৪৫ ৩

১৭ ১১৯ ২১

ও - ১১

৯ ৬ - ৫ ৪

- ও ২

ও ১

Source httpwwwarthosuchakcomarchives388085

- ফ ৪০ ও - ৪০

৬ ( ) ৫ ৯ ৫ ৪৯২ ১১

৫৬ ৪৫১ ২৯

১২ ( ও)

( )

-

- ১০

( ও) ৮০

৪৯ ৩৭ ৯৮

ও ১৭ ১২ ঋ ও

১০ ও ৩ ১০

৩০ ২০১৬ ৩৫ ৬৩

৫ ( ) ৩ ৪৯

Daily News Flash 12th November 2017

37

Source httpwwwarthosuchakcomarchives387762

lsquo rsquo

( )

lsquo - rsquo

( ) ও

২০০২ ( ২ )

৫৪৬

ও ১৫

ও ১৫ ৭৫ ও

১০-১২ ১

১৫৫ ৬৭

ও ২০১০

ও ও ও -

ঋ ঋ

১৫ ৪ ৩

২ ২ ৪ ১৫ ৬

( )

Source httpwwwarthosuchakcomarchives388276

- ও ও

Daily News Flash 12th November 2017

38

৩৮ ও ৪৩

১০০ ৬১ ৫৮ ২২৫ ১ ০৫

Source httpwwwarthosuchakcomarchives387849

- ও ( -২)

৬ ও

ও ৫ ৩০০

ও ও

৭ ২০০

( ও )

ও ও

ও ও

২ - ও mdashlsquo

rsquo ও

-

৫ ৩০০

- ১০ - ৪২৯ -

৩২৮

- ১০

( )

২০১৪

( ও) ও ( )

( )

২ ও ও

ও ও ও

ও ২০১১- ও

ও ( )

Daily News Flash 12th November 2017

39

(১০ ) ৫ ৭৬৩

৬৩ ও

ও ( )

- ২০১৪ ও

ও ও

Source httpwwwprothom-alocomeconomyarticle1362971

ও ও

ও - ও

২০১৬-১৭ ২০ ও

ও ও lsquo rsquo

ও ১০ ও

৭৭ ২০১৭

১৬ ২৭ ও

২০১৬-২০১৭ ২০ lsquo rsquo

ও-

ও ও ও

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564382

ফ ( ও) ১১

ও ও

ও lsquo১১ ও rsquo

১০ ১৩

( ) ( )

Daily News Flash 12th November 2017

40

- ও

-

( )

( )

lsquo ও

rsquo ও

২৬ ১০

১৬

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564383

১ ৫০

ও ২০৫০

২৩

১৬ ৫৯ ২০১১

২০৩০

( )

ঋ ও ও

৬৮ ৬৭

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564384

ফ lsquo

ও ও

( ) ও

- ও

( ও ) ( )

Daily News Flash 12th November 2017

41

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564388

৪৫ ও

৮৪ ৮৩

৯২০

২৭ ২৪ ৭ ৩

৬ ৮৯

৯ ১ ৭২ ১৪ ৪৮

৪৫

ও ১৭ ৫০

১৯৩ ১০ ২০১৫-১৬ ৪১৩ ১০ ও ও

২০১৪-১৫ ৩৭৫ ৮০ ৩৫ ৭০

২০১৩-১৪ ৫১৫ ও

৮১ ২ ৫১ ৩ ২০

২ ও

৮৪

৮১

- ও

৮৩

৮২ ৯৫

ও ও - ও

ও ও ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17112200 - - - -

ও ৫০

ও ( ) ( )

ও ও

Daily News Flash 12th November 2017

42

ও ও

১০০

৮ ও

৩০০ ( )

ও ১৫০

২০০ ১০০

২০০

২৭ ৭

ও ও

ও ৩০ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111811 - - - -

-

২৭ ১১

১০

( ) ২৮৪

৬ ২৮ ৭ ১৫১

৭৪

ও - ও

ও - ও

ও ৩

৭ ১ ২৩

৯৪৪ ৮৮২ ১০

ও ৪ ৭ ও

৪ ৩৮ ও ১৫ ৪১ ২২ ৭০

২০ ৩৬ ১৩ ও

৪৬ ২২ ২০ ও

১৭ ৩৭১ ও ও

১৭ ও ৪৩ ও

Daily News Flash 12th November 2017

43

৬ ২০ ও ১৬

৩৫ ২০ ২৭

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111810 - - - - -

ও ও

১৩০ ও ১৪০

৫৫ ও ৯৭ ১১৩

৩৭

৩৪

৬১৯৩ ৬২ ১১৬১৭

৩০ ১৯

ও ও

ও - ও

৪৮ ৩১

১২ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111808 - - - - -

৩৫ ও ১০

ও ( ) ও

১০

ও ও -

২ ৩০০

২০১৪ ও

ও ৭ ২০১৪ ও ২০১৫

৫ ৭ ও ১২ ৮ ২৩

২০১৩ ১ ৪২০ ২০১৪ ১০ ৫ ১ ৫৭০

১৩ ৪ ও ১ ৩৫৮ ১০

২০১৬ ও ৩ ৫ ১ ৩১০ ২০১৪

২০১৬ mdash ২ ১ ঋ

১০ ও ২০১৩

২৯ ৮০ ২০১৪ ৫ ৭ ৩১ ৫০ ২০১৫

১২ ৩৫ ৩০ ২০১৬ ৭ ৩৭ ৮০

Daily News Flash 12th November 2017

44

২০১৪ ২০১৬

৩২ ৩৫ ও ৫০ ১৯

৫৬

১৭ ৪৬ ২০১৪ ২০১৬

৭২ ১০০ ও ১১১

২০১৪ ২০১৬ ১৫ ৬৩

৯১ ১১৪ ও ১১৮ ৮ ২৩

৮০ ৯০ ও

ও -

ও -

ও ও ও

১০ ও

১০ ও ২২

৭১ ১২ ৪২

৩২ ২৬ ও

ও ও

( ) ও

ও ২০২১ ও ও

৫ ১ ১৬

ও ও

Source httpbonikbartanetbanglanews2017-11-12137992 - - -- -

৫০০ ৫০০ ও

ও ৩০ ২০১৭

৫০০ ও ঋ ২০১৮

৩০

১ ২০ ও ১৫০

১১

Daily News Flash 12th November 2017

45

৩০০ ৬০০

( ) ও

১ ২৫ ও ১০

১০ ও

ঋ ও

৩০ ২০১৭ ৩ ও ১২ ও

( ) ২ ১৪ ২ ১

ও ৩০ ১১

( ) ও ও

( - ) ৬৬ ৫৫ ৩০

( ) ৩৪ ৯০

ও ও ও

( ) ও

ও ও ২০১৫ ৩০ ১০ ২০১৬

১২

( ) ৪১ ২০ ও ২৩ ৬০

৫০ ও

২০১৪ ৩০০ ও ১৪৮ ৪৬ ৫০

১৯১ ৬২ ৩৭ ৩১

১২ ৪৫ ৫০ ২৪

ও ( ) ১৬ ৫৩

ও ১৫ ২২

Source httpbonikbartanetbanglanews2017-11-12137966৫০০- - - - -ও -

৬৩

- ও ও

৬২ ৯৪ ৫

৬২

৯০

২০১৪ - -

- ও

২০১৬-১৭ ৫ ৬২ ও ২০১৩-১৪

১২

( ) ৯০

-

ও - - ও -

Daily News Flash 12th November 2017

46

- ও

৬২ ৯৪

২০১৩-১৪ ৭০ ৭৮ ২০১৪-১৫ ৫৪ ২২

২০১৫-১৬ ৩৯ ৩৩ ও ২৬ ২৩

ও ২০১৩-১৪

১২ ৩৬ ২০১৪-১৫ ৫ ৯১ ও ২০১৫-

১৬ ১৭ ৩০ ৫ ৬২

৩০ ২০১৭ ১০

২ ৮৬ ও ৩

ও ২৪ ( )

২৭

১৯৬৪ ১২

৪ ও ও ১৯৭২

ও ( )

ও ৩৪ ৮ ও

৯০

৪৫ ও ৫

১৯৬৪ ১৯৭২ ১৯৮৯

১০০ ও ২৬ ১৬ ২০ ৫৪৩ ৭৭

৫ - ৫১ ১৫ ৬০ ও

৩২ ৯০

Source httpbonikbartanetbanglanews2017-11-11137853 - - - - - -৬৩---

( ) ও

১০

ও ও ও

-

ও ও

ও ঋ ও

ও ২০১৪ ও

ও ও

২০১৩

( ) ও

Daily News Flash 12th November 2017

47

২০১৪

২০১৪-১৬ ও

২০১৪

ও ২০১৪

২০১৫ ২৭ lsquo ও rsquo

ও ও

২০১৬ ২৪

( )

ও ও

- ও

ও ও ১৯৮৩ ২০১৬

ঋ ( ) ৫৬০

৮৬৪

২০১৬ ২০১৯ ও

ও ১৫ ২৫ ৩০ ও ৩০

ও ঋ ও

২০১৬ ঋ ১

৩৪২ ঋ ৬ ৫২ ১২৩

ঋ ২ ৪৪৩ ঋ ১০

৮৪ ঋ ৪০

৭২৬

ও ২০১৬ ৭৪১

৪৫৭

২০৭ ২৪৪

১০ ও

ও ও ও ও ও

Daily News Flash 12th November 2017

48

Source httpbonikbartanetbanglanews2017-11-12137998 - - - - - ও- -

( )

৩০ ২০১৭ ২০

( ) ২ ১ ১ ৫৯ (

) ৩০ ( ) ১৫ ৩৭

ও ২৮ ১১

( ) ২৮

২০১৬ ৩০ ১৮ ২০

২০১৪ ও ২০

১৫ ৩০

১৮ ৮০ ও ৯ ৬০

Source httpbonikbartanetbanglanews2017-11-11137850 - - - -

ফ ৭ ২০১৭-১৮ ৭ ৩ ৭৪

( ) ও

( - ) ১ ১৫০ ৫৮

(২০১৬-১৭) ১ ৭৫ ৩ ৬০ ৭

৩ ১ ১৫৯ ২০ ৭৪

ও mdash

৬ ৬৫ ১৭ ৬৩

mdash ও ও

১৫ ৪১ ২২ ৬৯ ১০

১৯ ৬৬ ১০ ২০ ২২

mdash ও ও ও

৩৯ ৫১ ও ২ ও

১৬ ৪৬ ও ও ৬ ৯৯ ও

৩ ৮৫ ৯ ৯৫

১৯ ৮২

৮০

ও ( )

mdash

Daily News Flash 12th November 2017

49

ও ও

Source httpbonikbartanetbanglanews2017-11-10137755 - - - -৭- - --

ফ - ফ ও -ও

-ও

-ও

২৯-১০-২০১১ ৩ ( ) ২৮-১০-২০১৪

৩ ( ) ২৮-১১-২০১৬

২৮-১০-২০১৭ ৩ ( )

২০১৬-১৫৮১৩৪ ৪৪ ০৭-০৮-

২০১২ ১২(৬) ২ ( ) ৬ ( )

-ও - ও ২ ( )

৬ ( ) ও ও

-ও ৩ ( )

-

ও ও

১৯৯৪

২ ২২-০৫-২০১২ -ও ৩

- -

১৯৯৪

-ও

- ও

( )

১৯৯৪

১৯৯৪ -ও

Source httpwwwsharenews24comindexphppage=detailsampnc=1ampnews_id=6587

Daily News Flash 12th November 2017

50

ফ ফ

১৫ ও

-( ) ও

৪৯

১৬ ৮৫

৫১ ৪৯

৪ ৩৬

১৯১৩

১০০ ও ১৯০১ ১৯৬০

Source httpswwwdailystockbangladeshcom - - - -

- ( -১)

( ) ৮

৩০০ ও

( ) ১৬

- ২২৮ ৪৯ ১৮৩ ২০১৮

( ) ও

১৫০

( ) ও ৪০ ৩০

ও ও

ও ও

Source httpswwwdailystockbangladeshcom - - -

Page 23: Daily News Flash, 12th November, 2017 -  · PDF filebanglalink's revenue falls 4.57pc in q3 ... banks lack remedial strategy while npl rises worryingly

Daily News Flash 12th November 2017

23

This is quite striking because given the severity of the non-performing-loan issue the NPL strategy should be signed off by the boards Mr Azad said adding Boards are not only accountable for the health of the banks but are also in position to release resources to get to grips with the issue In addition the survey result also revealed 31 per cent of the banks not communicating their NPL strategy across the bank NPL as an issue needs to be addressed from ground up But the results show that this is not happening at our banks said an expert who was involved with research Meanwhile 25 per cent of the CROs said they were not tracking the implementation and effectiveness of NPL strategy in their banks- something which according to experts is a cause of concern Given how critical an issue NPL exposure is we would expect every CRO to track how the NPL strategy is being implemented its effectiveness and how to improve matters to the Board Risk Committee and the Board the banking experts said Meanwhile the survey results also found that although 94 per cent of the banks had stress-tested their balance sheet in terms of NPL drag this figure drops to 56 per cent while considering the impact to and from the wider economy market and structural aspects It seems that 33 per cent of the banks do not formally consider this aspect with a further 11 per cent not looking at this dimension at all the researchers said Experts also noted that with Basel 3 farther putting capital under pressure sensible banks should dynamically model the impact of key risks to their capital However the survey results show 17 per cent of the banks are not doing so while 31 per cent doing it in a limited manner Asked whether their banks risk-appetite-statement metrics reflected their NPL strategy 36 per cent of the respondents said they do so in a limited capacity while a further 80 per cent are not doing that at all It was also found that 25 per cent of the C-Suites have specific NPL-strategy-related targets while 31 per cent of the CROs have the same Meanwhile when asked whether they consider their NPL strategy to be embedded just over half of them or 52 per cent of the survey participants said Yes This according to experts is clearly not fit for purpose given the severity of the NPL issue facing the banking sector The first step in looking into the NPL issue is to assess internal capabilities to effectively manage NPLs Next external conditions or operating environment needs to be considered Finally the capital implications of the NPL strategy need to be analyzed said Sajib Azad The findings of the survey will be shared with the stakeholders during the next CRO forum of BIBM expected to take place next month where the issue of Risk Culture will also figure high The biggest reason for the swelling of NPL in our banking sector is a lack of good governance To check the ballooning of NPL the internal governance of the banks has to be strengthened above all Director-General of BIBM Toufic Ahmad Choudhury said Meanwhile the survey also found banks tending to consider time-horizon portfolio segment and exposure-level-based targets to be broadly equally important to their NPL strategy In terms of options preferred for reducing NPL banks consider change of exposure type to be most effective (36 per cent) followed by active portfolio reductions (33 per cent) and hold forbearance (31 pe rcent) Source httptodaythefinancialexpresscombdfirst-pagebanks-lack-remedial-strategy-while-npl-rises-worryingly-1510417700

GOVT SEEKS US$183B UNDER 39TH JAPANESE ODA PACKAGE The government has sought around US$183 billion worth of assistance from Japan for bankrolling six development projects officials said Saturday

Daily News Flash 12th November 2017

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Officials at the Ministry of Finance (MoF) said they have already discussed the issue with the Japan International Cooperation Agency (JICA) We are hopeful of receiving funds under its upcoming 39th Official Development Assistance (ODA) package to finance six development projects a senior MoF official told the FE He said a JICA mission in September-October last completed its visit to Bangladesh to explore the possibilities of financing the proposed projects We are hopeful of signing the 39th ODA package with JICA within a couple of months he said After signing the loan deal the largest bilateral donor will start disbursement of funds from the proposed $183 billion aid package for the six development projects the MoF official added The proposed six projects under the 39th ODA package are Matarbari port development Dhaka MRT line-6 construction (phase-III) Dhaka MRT line -5 feasibility study Matarbari ultra super critical coal-fired power plant (phase-IV) Jamuna Railway Bridge construction and Health service strengthening project A senior official of Economic Relations Division said the proposed 39th ODA package will be very useful for Bangladesh as it will be utilised to develop the Matarbari port ongoing Matarbari power plant project conduct feasibility study and detailed design of the MRT line-5 in Dhaka and to construct railway bridge over the River Jamuna All of these projects are very important for the country to ensure smooth transportation and uninterrupted power supply he added Japan is the largest bilateral development partner of Bangladesh Over last 5-6 years it has enhanced its aid with confirmation of more than US$10 billion worth of funds under each of the aid packages In the last 38th ODA package signed in June 2017 JICA provided Yen 178223 billion ($164 billion) for utilising in six development projects on transport infrastructure power and water sector improvement works In June 2016 Japan signed the 37th ODA deal worth $150 billion (17354 billion Japanese Yen) with Bangladesh and in December 2015 it inked the 36th ODA package confirming $12 billion concessional loan for six development projects Under the last 38th ODA package JICA offered $700 million (Yen 76825 billion) for Hazrat Shahjalal International Airport Expansion project $480 million (Yen 5273 billion) for 2nd Kanchpur Meghna and Gumti bridges construction $50 million (Yen 5593 billion) for Dhaka Mass Rapid Transit development project (Line 1) $100 million (Yen 10745 billion) for Matarbari ultra super critical coal-fired power plant $190 million (Yen 20477 billion) for Dhaka underground substation construction project and $110 million (Yen 11853 billion) loan for small scale water resources development project Japan has so far provided Bangladesh with nearly US$12 billion in assistance since the financial year (FY) 1971-72 Source httptodaythefinancialexpresscombdfirst-pagegovt-seeks-us183b-under-39th-japanese-oda-package-1510417739

SUMMIT GROUP ENTITIES TO ISSUE PREFERENCE SHARES WORTH $1250M A subscription closing ceremony to raise capital through issuance of preference shares worth BDT 1000 million (USD 1250 million) for Summit Barisal Power Limited amp Summit Narayanganj Power Unit II Limited was held recently at Pan Pacific Sonargaon Dhaka said a statement LankaBangla Finance Limited acted as the Mandated Arranger LankaBangla Investments Limited acted as the Issue Manager and The City Bank Limited acted as the Agent Account Bank amp Custodian Bank to raise the fund In the event Mr Lt Gen (Retd) Engr Abdul Wadud Managing Director of Summit Barisal Power Limited amp Summit Narayanganj Power Unit II Limited Mr Khwaja Shahriar Managing Director amp

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CEO of LankaBangla Finance Limited Mr Mohammed Nasir Uddin Chowdhury Managing Director of LankaBangla Capital Market Operations Mr Mominul Islam Managing Director amp CEO of IPDC Finance Limited Mr R Q M Forkan Managing Director amp CEO of Bangladesh Commerce Bank Limited Mr Faruq M Ahmed Additional Managing Director of Trust Bank Limited Mr Akthar Hamid Khan Deputy Managing Director of Pubali Bank Limited Mr Arif Hasan Khan Vice President of Modhumoti Bank Limited Mr Mohammad Ibrahim Khalil FCA Vice President amp CFO of Bank Asia Limited and Mr Mahbub Jamil Vice President and Head of Structured Finance of The City Bank Limited along with other senior officials from the companies were present Source httptodaythefinancialexpresscombdstock-corporatesummit-group-entities-to-issue-preference-shares-worth-1250m-1510411878

BMBA URGES MUHITH TO EXEMPT INVESTMENTS BY MF SPONSORS Bangladesh Merchant Bankers Association (BMBA) has urged the finance minister to exclude some components including sponsors investments in mutual funds (MFs) from the banks exposure to the capital market It made the request for ensuring an environment conducive to gradual development of the capital market according to a proposal submitted to Finance Minister AMA Muhith last week The BMBA said the long-term or strategic investments needed to be excluded while calculating the exposure as these investments were not intended for frequent trading Non-convertible preference shares and non-listed securities also need to be excluded from the capital market exposure as it will never influence the capital market volatility it said in a letter to the minister According to the letter the MFs are passive investments where investors themselves are not involved in investment decision making and such fund portfolios are mostly of long-term nature than frequent trading On the other hand the sponsors of the MFs need to hold 10 per cent of the investment until liquidation of the fund So considering the fact the sponsors portions in MFs need to be excluded from the banks capital exposure said the BMBA proposal As per the Banking Act 1991 it said reporting requirement is on solo basis but the central bank has introduced consolidated calculation which is of dual effectdouble counting in the market exposure This kind of restrictive measure creates panic situation in the market and may hinder the potentials and prospects of the capital market as a whole the BMBA said It also said that this kind of practice needed to be stopped as such requirements and reporting practice would further squeeze the market and that the investors would lose their interest The BMBA said some organisations have invested on strategic purpose and were holding positions in the board and their exposure increased with rising the market price of MF units On the other hand in compliance with the securities rules they are unable to sell shares to reduce exposure the BMBA said terming the situation complicated In its letter the BMBA said that the capital market exposure of some banks and financial institutions increased without fresh investments following the upward trend of the market price as the exposure is calculated on the basis of market price If the banks need to go for selling off their excess exposure this will create unnecessary selling pressure on the market said the BMBA The association requested the finance minister to consider their proposal to facilitate the growth of the capital market by its own strength and prospect Source httptodaythefinancialexpresscombdstock-corporatebmba-urges-muhith-to-exempt-investments-by-mf-sponsors-1510411950

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ATIUR STRESSES ROLE OF REGULATORS IN DIGITAL FINANCIAL INCLUSION Former Bangladesh Bank Governor Dr Atiur Rahman chairs a session at the 5th Biennial Competition Regulation and Development Conference at Jaipur in India on Thursday Success of digital financial inclusion depends on the prudent role of the regulating bodies to a great extent And the recent progress in Bangladesh in this regard is a good example for the rest of the world to follow said Dr Atiur Rahman former governor of Bangladesh Bank says a statement He was chairing a session at the 5th Biennial Competition Regulation and Development Conference at Jaipur India on Thursday The three-day conference is being hosted by CUTS International and OECD Speakers of the session included Ravinder S Aurora Senior Vice President of Mastercard David Ongolo Kenyan Competition Authority and Dr A K EnamulHaque Professor of East West University Dhaka Many developing countries survived and even thrived during the last global financial crisis because they chose to follow a broad-based financial inclusion strategy And digital solutions played a crucial role in this financial inclusion drive said Dr Rahman He added that service providers must focus on reaching out to the customers in the rural socio-economic conditions Dr Rahman said that experience from Bangladesh can answer many of the burning questions regarding digital financial inclusion The central bank of the country has facilitated bank-led digitisation drive Be it Mobile Financial Service or be it Agent Banking the Bangladesh Bank has encouraged traditional players (ie the commercial banks) to lead the way And it has been proven to be very successful He also said that the world is witnessing only the beginning of the digital finance revolution Hence we must learn from all these experiments share our experiences and know-hows Only then we can work towards shaping global standards and practices Dr Rahman finally asked all central banks to be more proactive and collaborative with other stakeholders including non-traditional financial service providers to facilitate orderly development of digital financial inclusion so that consumers interests are better protected The grievance redressal mechanism developed in Bangladesh Bank with infusion of state of the art technology to gain trust of the customers in financial inclusion was also discussed widely in the session The panelists highly appreciated Bangladeshs regulatory move with public interest in mind using latest technology for replicable digital financial inclusion Source httptodaythefinancialexpresscombdtrade-marketatiur-stresses-role-of-regulators-in-digital-financial-inclusion-1510416319

FAO FEARS NEGATIVE BD FOOD OUTPUT GROWTH ON FLOODING Recent flooding has dampened the outlook for Bangladesh a likely third successive season of little or negative food production growth mainly rice reports UNB quoting FAO Barring major setbacks production recoveries could instead permit Bangladesh and Sri Lanka to slightly lower their 2018 imports to 11 million and 450 000 tonnes respectively according to the latest Food Outlook published by the UN Food and Agriculture Organisation (FAO) Among other rice importers Bangladesh Iraq Nigeria and the Philippines are all similarly predicted to replenish their inventories according to the report a copy of which obtained by the news agency These gains are however likely to be offset by stock reductions in the Republic of Korea Madagascar Sri Lanka and the United Republic of Tanzania all linked to output shortfalls Although the use of rice as animal feed is being sustained by the release of supplies from government granaries in Japan the Republic of Korea and Thailand more affordable feedstuffs are expected to displace rice in most other countries especially in Bangladesh China (Mainland) and Vietnam

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Since the previous Food Outlook report a series of unfavourable climate-related events have affected main paddy crops in the Northern Hemisphere which have now reached the harvesting stage This has been the case in Asia where unlike 2016 the critical Northern Hemisphere summer months were characterised by mixed growing conditions that inhibited planting expansions As a result FAOs latest forecast of world rice production in 2017 points to a broadly stable output level of 5008 million tonnes Production in Asia is now forecast to fall 550 000 tonnes below the 2016 bumper harvest to 4525 million tonnes The UN agriculture agency has said the cost of importing food is rising in 2017 driven by increased international demand for most food stuffs as well as higher freight charges The cost of importing food is forecast to rise six per cent in 2017 to $1413 trillion making it the second highest bill on record while food commodity prices have been generally stable according to the latest Food Outlook that expressed concern about the economic and social impact of this trend on poor countries Although weather disruptions are set to stall production growth this season global rice supplies are still forecast to exceed utilisation enabling a small expansion of world rice inventories Global trade is expected to rise only modestly in 2018 after staging an 8 per cent recovery in 2017 The food import bills are set to increase by double-digit rates for least-developed countries (LDCs) and low-income food-deficit countries Aromatic rice varieties have risen eight times faster than the FAO All Rice Index which is up four per cent on the year However the higher import costs come at a time when inventories are robust harvest forecasts are strong and food commodity markets remain well supplied The export of tropical fruits is promising for poverty relief and rural development as almost all production takes place in developing countries The export volumes of mango pineapple avocado and papayas are on course to achieve a total combined value of $10 billion this year according to the Food Outlook Source httptodaythefinancialexpresscombdfirst-pagefao-fears-negative-bd-food-output-growth-on-flooding-1510336161date=11-11-2017

STOCKS NUDGE HIGHER AS BANK TELECOM ISSUES SURGE Stocks extended the winning streak for the two consecutive weeks that ended Thursday as enthusiastic investors continued their buying appetite on bank and telecommunication issues Market operators said the positive momentum in some large-cap issues especially from banking telecom pharmaceuticals and food amp allied sectors helped the bourse to stay upbeat The banking sector posted the highest return of 445 per cent as 27 out of 30 listed banks ticked higher Four banks gained more than 10 per cent each The telecom sector also surged 342 per cent as Grameenphone the countrys largest market-cap listed companys shares price jumped 40 per cent to close at Tk 45690 each The market extended the winning streak riding on heavyweight bank and telecom issues said an analyst at a leading brokerage firm The week featured five trading sessions as usual Of them first session saw marginal correction while last four closed higher Week-on-week DSEX the prime index of the Dhaka Stock Exchange (DSE) jacked up by 9454 points or 155 per cent to finish at 6193 The two other indices -- the DS30 index and the DSE Shariah Index (DSES) - also closed higher at 2244 and 1341 points

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Both the indices added 4264 points and 1218 points respectively During the week banking pharmaceuticals and telecommunication sector stocks contributed more to keep the market up commented City Bank Capital Resources a merchant bank in its weekly analysis The port city bourse Chittagong Stock Exchange (CSE) also ended higher The CSCX advanced 180 points or 156 per cent to finish at 11618 International Leasing Securities a stockbroker noted that the market observed an upbeat vibe throughout the week riding on the news of soaring of net foreign investment in the capital market in the first 10 months of 2017 compared to the same period of last year Net position of foreign portfolio with the DSE stood at Tk 1623 billion in January-October compared to Tk 80 billion in the same period a year ago However some investors were reshuffling their portfolios after observing the year-end corporate declarations and first quarter earning disclosures the stockbroker added According to EBL Securities The market witnessed an upbeat tune throughout the week riding on regained confidence among the market participants The stockbroker noted that preferable year-end and quarter-end earnings declarations by several companies helped them to remain positive about market The total turnover for the week amounted to Tk 3591 billion on the DSE which was Tk 3027 billion in the week before The daily turnover averaged Tk 718 billion which was nearly 19 per cent higher than the previous weeks average of Tk 605 billion Block trade accounted for 16 per cent of the total weekly turnover where stocks like BATBC Beximco Pharma Shahjalal Islami Bank Square Pharma and Singer Bangladesh dominated the block trade board Banking sector kept its dominance over the turnover chart grabbing 35 per cent of the weeks total transaction followed by engineering with 18 per cent and pharmaceuticals 11 per cent Out of 336 issues traded 207 closed lower 116 ended higher and 13 issues remained unchanged on the DSE trading floor during the week The market capitalisation of the DSE rose 137 per cent as it was Tk 4123 billion on the opening day of the week and it stood at Tk 4179 billion on closing day of the week City Bank topped the weeks turnover chart with 5390 million shares worth Tk 184 billion changing hands followed by IFAD Autos with Tk 121 billion Brac Bank Tk 10 billion LankaBangla Finance Tk 994 million and Dhaka Bank Tk 926 million Reckitt Benckiser was the weeks best performer posting a gain of 1925 per cent while Stylecraft was the weeks worst loser slumping by 3322 per cent A new issue - Oimex Electrode-- made debut last week and soared 1042 per cent from its offer price of Tk 10 in the first trading day on Monday Source httptodaythefinancialexpresscombdstock-corporatestocks-nudge-higher-as-bank-telecom-issues-surge-1510332934date=11-11-2017

BANGLADESH GROWING AS DENIM HUB The growing global demand for fashionable denim wear encouraged both local and foreign entrepreneurs to make fresh investment in Bangladesh participants and organisers of Bangladesh Denim Expo have said Many of the 30 local denim mills are going for expansion while a couple more will come into operation with fresh investment within next two or three years they said Some foreign companies are opening offices or setting up factories in Bangladesh they added The seventh edition of the two-day Bangladesh Denim Expo was held in the city recently with the theme transparency to highlight the need for transparency in the entire denim supply chain

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A total of 65 exhibitors from 12 countries participated in the show while more than 12 thousand visitors from across the world registered online to attend the two-day expo organisers said Talking to the FE on the sidelines of the expo Md Khalid Mosharof assistant general manager at Dekko Group said the group invested Tk 15 million in setting up a new factory of 44 lines at Ashulia that would go for denim item production in June next The main reason is to tap the growing global demand he said Echoing him Syeed Ahmed Chowdhury general manager operation at Square Denim said the company expanded its denim fabric production capacity to 30 million yards from the existing 15 million yards per month mainly to meet the demand He however opined that the expansion is taking place more in garment segments than in fabric production There is no alternative to expansion to sustain the existing business and achieve the $50 billion garment export earnings target by 2021 Sharif Zahir managing director of Ananta Group said stressing the need for positive branding of the sector Meanwhile Landes a German denim accessories maker started production in its new factory at Savar from this month It invested US $05 million We opened the factory in Bangladesh as we think this is the hub for denim business and there is a lot of business prospects here Manfred Slowik chief operating officer of Landes told the FE at his stall at the expo By the end of next year the total workforce in our new plant will be 120 people as we are recruiting new people from existing 30 Mr Slowik said Landes has a target to produce 500 million pieces of leather patches used in denim trousers as accessories in a year at its Savar plant from where such accessories will be supplied to the whole Asian region Many big brands like HampM VF and Walmart are their customers he said Nezahat Boni senior account manager of Orta a Turkish denim maker said her company supplies 30 million metres of denim fabrics in Bangladesh in a year against only 800 meters in 2011 We opened an office in Bangladesh in 2011 as we cannot ignore the importance of this country as a denim hub she said Prosperity Textile a Chinese company opened its office in Dhaka last year said Md Mujibul Hoque the companys Bangladesh Sales Director The company has targeted sale of 100 million yards a year across the globe while it also targets 30-40 per cent of their sales in Bangladesh Bangladesh is now the top denim products supplier to the European Union overtaking China and third largest to the US after China and Mexico industry people said Bangladesh supplies denim products to major global buyers and retailers including levis G-Star Raw HampM Tesco Wrangler Hugo Boss Walmart and Gap Source httptodaythefinancialexpresscombdtrade-marketbangladesh-growing-as-denim-hub-1510332061date=11-11-2017

EXPORTS UP 70PC IN JULY-OCTOBER Countrys export earnings grew by 703 per cent to US$1150 billion during first four months of the current fiscal year (FY 2017-18) according to official data released Thursday The earnings were $1079 billion in the same period (July-October) last FY In October 2017 the exports grew by 642 per cent to $284 billion the Export Promotion Bureau (EPB) data showed The overall exports in the first four months slightly (074 per cent) fell short of the periods target In October however the exports were 628 per cent higher than the months strategic target Readymade garment shipments fetched $943 billion marking 699 per cent growth during the period as compared to $882 billion in the same period of last FY

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The woven items registered 385 per cent growth in earnings to $445 billion than that of $428 billion in the same period of FY 2016-17 The earnings from knitwear export during the period grew by 995 per cent to $498 billion from $453 billion in the corresponding period of last FY Jute and jute goods exports rose by 1646 per cent to $34501 million from $29626 million in the same period of FY17 The earnings from agriculture products grew by 2022 per cent during the period while home textiles by 2037 per cent The earnings from leather and leather products however fell marginally by 002 per cent to $42844 million during the period than that of $42851 million in the same period last FY The export earnings from frozen food and live fish grew by 1541 per cent to $22691 million from $19661 million of the corresponding period of last fiscal Mahmud Hasan Khan vice president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) said the exports in the first four months of the current fiscal year fell short of the expected growth mainly because of failure in maintaining the lead time and short supply of gas and electricity Terming the knitwears growth satisfactory he said woven items manufacturers have been struggling to cope with the new challenge as buyers were reducing the volume of orders due to failure in meeting the lead time Without efficient port and strong backward linkage industry especially for the woven sub-sector it will be difficult for the sub-sector to bounce back he feared He pointed out that maximum of the woven fabric requirements were being met through imports But it was taking too much time to clear the imported fabrics and additional charges as a result at the Chittagong seaport that was facing unbearable congestion The government should provide necessary policy support to the exporters to establish strong backward linkage industry for the woven sub-sector he added Source httptodaythefinancialexpresscombdfirst-pageexports-up-70pc-in-july-october-1510248870date=10-11-2017

GAS CRISIS HURTING OUTPUT IN INDUSTRIAL BELT Factories in the countrys Tongi-Gazipur industrial belt have been facing acute gas crisis over the past few months following diversion of gas to upstream power plants The crisis has deteriorated further this week albeit some improvements for a few days last week said local industrialists and businessmen According to them if the ongoing gas crisis persists they may be forced to shut down their factories Officials of the Titas Gas Transmission and Distribution Company Limited (TGTDCL) however blamed the Petrobangla for the gas crunch Sources concerned say the industrial belt of Tongi-Gazipur is suffering badly for about four to five months from low pressure of gas coupled with poor electricity voltage -- often resulting in huge volume of industrial wastages and reduction of production efficiency According to the industry insiders a factory in the industrial belt requires 04 PSI (production per square inch) as optimum gas pressure but the pressure at times comes down to as low as 01 PSI these days -- especially during the daytime Gas pressure in the area becomes normal around 10pm11pm and stays for not more than 08 hours until 6am7am an entrepreneur of the industrial belt informed Asked an official of Titas said they are at present getting nearly 250 million cubic meters (MCM) less in recent weeks against their current demand of 1800 MCM gas in Titas franchise The downstream Titas franchise area covers greater Dhaka region which includes Gazipur alongside some other adjoining districts and greater Mymensingh he said

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A Petrobangla source however cited gas supply on priority basis to a number of upstream projects including power plants as reason behind supply shortage When asked Managing Director of Akij Group Sk Bashir Uddin termed the situation really worrisome According to him two of Akij Group companies situated in the area -- Akij Printing amp Packages Limited and Dhaka Tobacco Industries -- jointly contributed nearly Tk 35 billion (3500 crore) to the national exchequer in the 2016-17 fiscal year But were very much worried about our industrial output this year as production disruption following the twin crises involving gas supply and power supply Both will eventually disrupt our retail business in every phase he quipped This often results in a high rate of industrial wastage and reduction of production efficiency he added Bangladesh Auto Re-rolling Steel Mills amp Association Chairman Manwar Hossain who is also Anwar Group Managing Director echoed the same concern Factories in the industrial belt are now operating at one-third of their capacity which may lead to labour unrest and default of huge sum of bank loans he said Such disruption of production he cautions may even cause sudden shutdown of factories According to him none of the victims in that case will be the wilful defaulters -- they will be the victims of circumstances The businessman who has a steel factory called Anwar Ispat Limited in the industrial belt called for immediate introduction of ECM (electronically controlled meters) to check unabated gas engineering in the area which he deems to be yet another reason for gas supply crunch Titas officials according to him are encouraging co-generation scheme to help address the severe gas crisis But he said co-generation will require stable and smooth gas supply Government should ensure at least 10-15 years of smooth gas supply to encourage co-generation as what he said any industrial investment requires 20 years of payback period TGTDCL Deputy Managing Director Engineer Abdul Wahab Talukdar who is also the Project Director of Sripur-Joydevpur Transmission Pipeline Project said We cannot do anything to address the crisis if there is a lack of adequate gas supply Mentioning that all factories in the industrial belt are like my babies he unequivocally said Titas is not at fault He also admitted that priority-based power plants gas supply being the reason behind the current spell of gas crunch We have already started introducing electronic volumetric corrector (EVC) to stop illegal gas use in the area he said Factories he added should go for co-generation scheme for protecting their own interest Co-generation means utilising and absorbing heat generated from gas generators which Mr Wahab said will save energy A section of the businessmen however called for stopping fertiliser production and distributing the same among people at a subsidised price after importing it to facilitate smooth supply of gas to other industries Even if the government stops fertiliser production and opts for importing it for distribution at a subsidised rate there will only be an insignificant loss compared to the overall losses now being incurred said an industrialist who has more than one factory in the industrial belt Local sources said illegal and unapproved gas connections in various industries in and around the zone are also affecting gas supply badly among other reasons Source httptodaythefinancialexpresscombdfirst-pagegas-crisis-hurting-output-in-industrial-belt-1510249018date=10-11-2017

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SINGLE PERSON MAY FORM COMPANY A single person may form a commercial firm under a provision of the companies law being updated along with some other major business-stimulating measures Official sources said the government is considering incorporating some new provisions including one allowing individuals to form any company into the updated Companies Act The other provisions are formation of an appellate tribunal to resolve legal matters without wasting much time widespread automation of companies work and submission of annual company reports online Earlier the Ministry of Commerce (MoC) had received some recommendations from the stakeholders on how to update the law they added We got most of the recommendations from the stakeholders We hope we will be able to prepare the draft Companies Act within a month Md Obaidul Azam director trade organisations (DTO) told the FE He said the recommendations the ministry had received so far were being scrutinised before preparing a draft for updating the companies act Earlier different trade bodies had sent their respective recommendations to the MoC for incorporation into the law The MoC will hold a meeting with the countrys apex trade body after assessing the recommendations and suggestions the ministry official said Talking to the FE a leader of an influential trade body said they had sent some recommendationssuggestions to the MoC for the new Companies Act for betterment of the countrys trade and business According to Section 2 (1) (c) of the Companies Act 1994 Company means a company formed and registered under this Act or an existing company Thus a company is an association of persons formed under the Companies Act 1994 with a view to achieving some common objectives Though a company is regarded a legal person it possesses similar rights and owes similar obligations like a natural person Now any individual fulfilling the new criteria may be allowed to form a firm Source httptodaythefinancialexpresscombdfirst-pagesingle-person-may-form-company-1510249090date=10-11-2017

DSE TURNOVER CROSSES TK 80 BILLION MARK The daily turnover on Dhaka Stock Exchange (DSE) exceeded the Tk 80 billion mark on Thursday as investors took fresh exposure to the banking sector Turnover a crucial indicator of the market reached Tk 870 billion on the countrys premier bourse jumping 14 per cent from the previous days transaction of Tk 765 billion It was the biggest single-day transaction since October 11 when the turnover totalled a record Tk 1092 billion Along with rising turnover DSEX the prime index of the Dhaka bourse continued to keep its gaining momentum closing 3449 points higher at 6193 points DSEX which replaced the DGEN in nearly five years back added more than 121 points or 20 per cent in the past four consecutive sessions The two other indices -- the DS30 index and the DSE Shariah Index (DSES) -- also followed suit to end at 2244 and 1341 points after gaining 1422 points and 443 points respectively Brokers said the market maintained the bullish trend for the four straight sessions as the enthusiastic investors chased the banking sector stocks The market continued the bullish trend for the four consecutive sessions as the enthusiastic investors were active for the banking food and engineering sector stocks commented EBL Securities a stockbroker in its regular market analysis

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It noted that the core index remained positive throughout the session as optimistic investors kept buying sector-wise stocks while some rebalanced their portfolios Meanwhile share price of newly listed Oimex Electrode continued to decline for the three consecutive sessions after unusual hike during its debut trading on Monday The companys share price fell 763 per cent to close at Tk 9810 on Thursday after jumping more than tenfold during the debut trading which experts termed unusual Block trade contributed Tk 241 million to the days total turnover with stocks like BATBC Square Pharmaceuticals Singer Bangladesh and Beximco Pharma dominating the block trade board Among the major sectors pharmaceuticals posted the highest gain of 122 per cent followed by banking sector (083 per cent) food amp allied (067 per cent) engineering (033 per cent) financial institutions (003 per cent) and power (003 per cent) Only telecommunication sector faced a 045 per cent correction A total number of 0140 million trades were executed in the days trading session with trading volume totalling 23171 million securities The total market capitalisation of the DSE stood at Tk 4179 billion against Tk 4168 billion in the previous session Losers however took a modest lead over the gainers as out of 325 issues traded 140 closed lower 130 closed higher and 55 remained unchanged on the DSE trading floor City Bank dominated the turnover chart for the second day in a row with 1035 million shares changing hands closely followed by Dhaka Bank LankaBangla Finance Brac Bank and Keya Cosmetics Reckitt Benckiser was also the days best performer posting a gain of 624 per cent while Qasem Drycells was the days biggest loser shedding 1235 per cent The port city bourse Chittagong Stock Exchange (CSE) also ended higher with its Selective Categories Index -- CSCX --gaining more than 62 points to close at 11618 Losers beat gainers as 113 issues closed lower 97 closed higher and 37 remained unchanged on the CSE The port city bourse traded 1604 million shares and mutual fund units generating a turnover of Tk 483 million Source httptodaythefinancialexpresscombdstock-corporatedse-turnover-crosses-tk-80-billion-mark-1510245247date=10-11-2017

TEN COS GRAB 32PC TURNOVER ON DSE The banking sector continued to dominate the transaction chart of the Dhaka Stock Exchange (DSE) accounting for 39 per cent of the total turnover on Thursday Four banks made their way to the top 10 turnover chart with City Bank leading the chart for the second day in a row Brokers said the investors chased the banking sector issues as more than 63 per cent of listed banks showed positive earnings in the third quarter (July-September period) Meanwhile top 10 traded companies including four banks grabbed more than 32 per cent of turnover on the Dhaka bourse The total turnover on the premier bourse reached Tk 870 billion up 14 per cent from the previous days Tk 765 billion The most active shares in terms of value included City Bank Dhaka Bank LankaBangla Finance Brac Bank Keya Cosmetics Square Pharmaceuticals Beximco Pharmaceuticals IFAD Autos Exim Bank and IDLC Finance According to statistics available with the DSE about 1035 million shares of City Bank were traded generating a turnover of Tk 553 million or 635 per cent of the total transactions

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The companys share price hovered between Tk 5240 and Tk 5440 before closing at Tk 5390 advancing 228 per cent over the previous session Dhaka Bank came in next with shares of Tk 395 million changing hands contributing 454 per cent to the total turnover The banks share price closed 347 per cent higher at Tk 2380 LankaBangla notched the third spot with shares of Tk 266 million changing hands making up 305 per cent of the total turnover Its share price ended 063 per cent higher at Tk 6430 Brac Bank emerged the fourth with shares of Tk 257 million changing hands grabbing 295 per cent of the total turnover The banks share price settled 123 per cent higher at Tk 107 Keya Cosmetics featured a turnover of Tk 247 million or 284 per cent of the total turnover Its share price closed 201 per cent higher at Tk 1520 The turnover of Square Pharma was Tk 241 million or 276 per cent of the total transaction Its share price ended 612 per cent down at Tk 27890 Beximco Pharma featured a turnover of Tk 211 million or 242 per cent of the total turnover Its share price advanced 428 per cent to close at Tk 10960 The turnover of IFAD was Tk 208 million accounting for 238 per cent of the total turnover Its share price closed at Tk 14070 gaining 195 per cent Exim Bank featured a turnover of Tk 196 million or 225 per cent of the total transaction The banks share price inched up 055 per cent to close at Tk 1830 IDLC also made its way to the top ten turnover chart with shares of Tk 188 million changing hands Its share price closed 223 per cent higher at Tk 9150 Source httptodaythefinancialexpresscombdstock-corporateten-cos-grab-32pc-turnover-on-dse-1510245290date=10-11-2017

FOREIGN INVESTMENT HIKE INFO DRIVES MODERATE GAINS ON DSE The Dhaka bourse Thursday closed the session posting a moderate rise in the broad index and turnover amid mixed performance displayed by major sectors On the day most of the major sectors declined but the turnover crossed Tk 80 billion-mark after two sessions on Dhaka Stock Exchange (DSE) mainly because of investors increased participation in the banking sector According to a market review of International Leasing Securities positive momentum in some big-cap stocks especially from bank food and engineering sectors helped the bourse to close in green The market started the session with a positive note and the DSE broad index DSEX witnessed little ups and downs before closing higher According to AT Capital Partners the market remained sideways till the midsession The DSEX rose again in the second half of the session and closed at 61936 up by 345 points The shariah based index DSES and blue chip index DS30 also rose marginally The turnover stood at above Tk 870 billion which was 1370 per cent higher than the turnover of the previous session The confident drive was initiated by the investors buying spree riding on the news of doubling net foreign investment in stocks year-on-year in the first ten months of 2017 said the International Leasing SecuritiesAmong the gaining sectors bank advanced 08 per cent and engineering 03 per cent Of the losing sectors pharmaceuticals amp chemicals declined 11 per cent telecommunication 05 per cent and textiles 09 per cent The banking sector grabbed 384 per cent of the market turnover at the premier bourse DSECity Bank topped the turnover chart with a value of Tk 553 million followed by Dhaka Bank LankaBangla Finance BRAC Bank and Keya CosmeticsReckitt Benckiser (Bd) limited topped the gainers chart with a rise of 624 per cent to close at Tk 18456 while Quasem Drycells was the worst loser after declining 1235 per cent to close at Tk 8230 Source httptodaythefinancialexpresscombdstock-corporateforeign-investment-hike-info-drives-moderate-gains-on-dse-1510245365date=10-11-2017

Daily News Flash 12th November 2017

35

MORE JAPANESE COMPANIES SEEK TO INVEST IN BANGLADESH Japanese Ambassador to Bangladesh Hiroyasu Izumi has said the Japanese investors are keen to invest in Bangladesh considering the lucrative offer and ideal atmosphere for foreign investment reports BSS The Japanese investors expressed more interest to invest in Bangladesh at recently-held the third round of Public-Private Economic Dialogue between Bangladesh and Japan he said while visiting the Chittagong Export Processing Zone (CEPZ) on Thursday The envoy expressed the hopes that Japanese investment in the Export Processing Zones (EPZs) will increase after the successful dialogue said a press release More and more Japanese companies will come to invest in this country he added General Manager of CEPZ Khorshid Alam maed a PowerPoint presentation highlighting the overall scenario of EPZ as well as Bangladesh Export Processing Zone Authority (BEPZA) Mentioning Bangladesh EPZs as the Bonanza for Investors he said investors from 38 countries have set up industries in the EPZs and invested US $442 billion He informed the ambassador that BEPZA has ensured three layer security system including 24-hour CCTV surveillance in the key points of EPZ and factory premises for the safety of the investors Source httptodaythefinancialexpresscombdtrade-marketmore-japanese-companies-seek-to-invest-in-bangladesh-1510250285date=10-11-2017

Source httpwwwarthosuchakcomarchives388209

১৬০

১১৫ ৪ ৫ ১০ ২০

৩০ ( )

( )

৩০ ২০১৭ ১৫

৩ ও ১২

২ ১৪ ( ) ৩৪

২৪

Source httpwwwarthosuchakcomarchives388257

Daily News Flash 12th November 2017

36

৫৩ ( ) ১৫ ও ২

১ ১ ৪৩ ২১০ ৫৩ ৪৪

৩২ ৫০

৮ ৫৮

২০

১ ২৪

৯ ২৭ ৫৫৫ ৯ ৩৮

-

Source httpwwwarthosuchakcomarchives388125

৩৫ ( ) ৩৫

২৪৫ ৩

১৭ ১১৯ ২১

ও - ১১

৯ ৬ - ৫ ৪

- ও ২

ও ১

Source httpwwwarthosuchakcomarchives388085

- ফ ৪০ ও - ৪০

৬ ( ) ৫ ৯ ৫ ৪৯২ ১১

৫৬ ৪৫১ ২৯

১২ ( ও)

( )

-

- ১০

( ও) ৮০

৪৯ ৩৭ ৯৮

ও ১৭ ১২ ঋ ও

১০ ও ৩ ১০

৩০ ২০১৬ ৩৫ ৬৩

৫ ( ) ৩ ৪৯

Daily News Flash 12th November 2017

37

Source httpwwwarthosuchakcomarchives387762

lsquo rsquo

( )

lsquo - rsquo

( ) ও

২০০২ ( ২ )

৫৪৬

ও ১৫

ও ১৫ ৭৫ ও

১০-১২ ১

১৫৫ ৬৭

ও ২০১০

ও ও ও -

ঋ ঋ

১৫ ৪ ৩

২ ২ ৪ ১৫ ৬

( )

Source httpwwwarthosuchakcomarchives388276

- ও ও

Daily News Flash 12th November 2017

38

৩৮ ও ৪৩

১০০ ৬১ ৫৮ ২২৫ ১ ০৫

Source httpwwwarthosuchakcomarchives387849

- ও ( -২)

৬ ও

ও ৫ ৩০০

ও ও

৭ ২০০

( ও )

ও ও

ও ও

২ - ও mdashlsquo

rsquo ও

-

৫ ৩০০

- ১০ - ৪২৯ -

৩২৮

- ১০

( )

২০১৪

( ও) ও ( )

( )

২ ও ও

ও ও ও

ও ২০১১- ও

ও ( )

Daily News Flash 12th November 2017

39

(১০ ) ৫ ৭৬৩

৬৩ ও

ও ( )

- ২০১৪ ও

ও ও

Source httpwwwprothom-alocomeconomyarticle1362971

ও ও

ও - ও

২০১৬-১৭ ২০ ও

ও ও lsquo rsquo

ও ১০ ও

৭৭ ২০১৭

১৬ ২৭ ও

২০১৬-২০১৭ ২০ lsquo rsquo

ও-

ও ও ও

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564382

ফ ( ও) ১১

ও ও

ও lsquo১১ ও rsquo

১০ ১৩

( ) ( )

Daily News Flash 12th November 2017

40

- ও

-

( )

( )

lsquo ও

rsquo ও

২৬ ১০

১৬

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564383

১ ৫০

ও ২০৫০

২৩

১৬ ৫৯ ২০১১

২০৩০

( )

ঋ ও ও

৬৮ ৬৭

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564384

ফ lsquo

ও ও

( ) ও

- ও

( ও ) ( )

Daily News Flash 12th November 2017

41

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564388

৪৫ ও

৮৪ ৮৩

৯২০

২৭ ২৪ ৭ ৩

৬ ৮৯

৯ ১ ৭২ ১৪ ৪৮

৪৫

ও ১৭ ৫০

১৯৩ ১০ ২০১৫-১৬ ৪১৩ ১০ ও ও

২০১৪-১৫ ৩৭৫ ৮০ ৩৫ ৭০

২০১৩-১৪ ৫১৫ ও

৮১ ২ ৫১ ৩ ২০

২ ও

৮৪

৮১

- ও

৮৩

৮২ ৯৫

ও ও - ও

ও ও ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17112200 - - - -

ও ৫০

ও ( ) ( )

ও ও

Daily News Flash 12th November 2017

42

ও ও

১০০

৮ ও

৩০০ ( )

ও ১৫০

২০০ ১০০

২০০

২৭ ৭

ও ও

ও ৩০ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111811 - - - -

-

২৭ ১১

১০

( ) ২৮৪

৬ ২৮ ৭ ১৫১

৭৪

ও - ও

ও - ও

ও ৩

৭ ১ ২৩

৯৪৪ ৮৮২ ১০

ও ৪ ৭ ও

৪ ৩৮ ও ১৫ ৪১ ২২ ৭০

২০ ৩৬ ১৩ ও

৪৬ ২২ ২০ ও

১৭ ৩৭১ ও ও

১৭ ও ৪৩ ও

Daily News Flash 12th November 2017

43

৬ ২০ ও ১৬

৩৫ ২০ ২৭

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111810 - - - - -

ও ও

১৩০ ও ১৪০

৫৫ ও ৯৭ ১১৩

৩৭

৩৪

৬১৯৩ ৬২ ১১৬১৭

৩০ ১৯

ও ও

ও - ও

৪৮ ৩১

১২ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111808 - - - - -

৩৫ ও ১০

ও ( ) ও

১০

ও ও -

২ ৩০০

২০১৪ ও

ও ৭ ২০১৪ ও ২০১৫

৫ ৭ ও ১২ ৮ ২৩

২০১৩ ১ ৪২০ ২০১৪ ১০ ৫ ১ ৫৭০

১৩ ৪ ও ১ ৩৫৮ ১০

২০১৬ ও ৩ ৫ ১ ৩১০ ২০১৪

২০১৬ mdash ২ ১ ঋ

১০ ও ২০১৩

২৯ ৮০ ২০১৪ ৫ ৭ ৩১ ৫০ ২০১৫

১২ ৩৫ ৩০ ২০১৬ ৭ ৩৭ ৮০

Daily News Flash 12th November 2017

44

২০১৪ ২০১৬

৩২ ৩৫ ও ৫০ ১৯

৫৬

১৭ ৪৬ ২০১৪ ২০১৬

৭২ ১০০ ও ১১১

২০১৪ ২০১৬ ১৫ ৬৩

৯১ ১১৪ ও ১১৮ ৮ ২৩

৮০ ৯০ ও

ও -

ও -

ও ও ও

১০ ও

১০ ও ২২

৭১ ১২ ৪২

৩২ ২৬ ও

ও ও

( ) ও

ও ২০২১ ও ও

৫ ১ ১৬

ও ও

Source httpbonikbartanetbanglanews2017-11-12137992 - - -- -

৫০০ ৫০০ ও

ও ৩০ ২০১৭

৫০০ ও ঋ ২০১৮

৩০

১ ২০ ও ১৫০

১১

Daily News Flash 12th November 2017

45

৩০০ ৬০০

( ) ও

১ ২৫ ও ১০

১০ ও

ঋ ও

৩০ ২০১৭ ৩ ও ১২ ও

( ) ২ ১৪ ২ ১

ও ৩০ ১১

( ) ও ও

( - ) ৬৬ ৫৫ ৩০

( ) ৩৪ ৯০

ও ও ও

( ) ও

ও ও ২০১৫ ৩০ ১০ ২০১৬

১২

( ) ৪১ ২০ ও ২৩ ৬০

৫০ ও

২০১৪ ৩০০ ও ১৪৮ ৪৬ ৫০

১৯১ ৬২ ৩৭ ৩১

১২ ৪৫ ৫০ ২৪

ও ( ) ১৬ ৫৩

ও ১৫ ২২

Source httpbonikbartanetbanglanews2017-11-12137966৫০০- - - - -ও -

৬৩

- ও ও

৬২ ৯৪ ৫

৬২

৯০

২০১৪ - -

- ও

২০১৬-১৭ ৫ ৬২ ও ২০১৩-১৪

১২

( ) ৯০

-

ও - - ও -

Daily News Flash 12th November 2017

46

- ও

৬২ ৯৪

২০১৩-১৪ ৭০ ৭৮ ২০১৪-১৫ ৫৪ ২২

২০১৫-১৬ ৩৯ ৩৩ ও ২৬ ২৩

ও ২০১৩-১৪

১২ ৩৬ ২০১৪-১৫ ৫ ৯১ ও ২০১৫-

১৬ ১৭ ৩০ ৫ ৬২

৩০ ২০১৭ ১০

২ ৮৬ ও ৩

ও ২৪ ( )

২৭

১৯৬৪ ১২

৪ ও ও ১৯৭২

ও ( )

ও ৩৪ ৮ ও

৯০

৪৫ ও ৫

১৯৬৪ ১৯৭২ ১৯৮৯

১০০ ও ২৬ ১৬ ২০ ৫৪৩ ৭৭

৫ - ৫১ ১৫ ৬০ ও

৩২ ৯০

Source httpbonikbartanetbanglanews2017-11-11137853 - - - - - -৬৩---

( ) ও

১০

ও ও ও

-

ও ও

ও ঋ ও

ও ২০১৪ ও

ও ও

২০১৩

( ) ও

Daily News Flash 12th November 2017

47

২০১৪

২০১৪-১৬ ও

২০১৪

ও ২০১৪

২০১৫ ২৭ lsquo ও rsquo

ও ও

২০১৬ ২৪

( )

ও ও

- ও

ও ও ১৯৮৩ ২০১৬

ঋ ( ) ৫৬০

৮৬৪

২০১৬ ২০১৯ ও

ও ১৫ ২৫ ৩০ ও ৩০

ও ঋ ও

২০১৬ ঋ ১

৩৪২ ঋ ৬ ৫২ ১২৩

ঋ ২ ৪৪৩ ঋ ১০

৮৪ ঋ ৪০

৭২৬

ও ২০১৬ ৭৪১

৪৫৭

২০৭ ২৪৪

১০ ও

ও ও ও ও ও

Daily News Flash 12th November 2017

48

Source httpbonikbartanetbanglanews2017-11-12137998 - - - - - ও- -

( )

৩০ ২০১৭ ২০

( ) ২ ১ ১ ৫৯ (

) ৩০ ( ) ১৫ ৩৭

ও ২৮ ১১

( ) ২৮

২০১৬ ৩০ ১৮ ২০

২০১৪ ও ২০

১৫ ৩০

১৮ ৮০ ও ৯ ৬০

Source httpbonikbartanetbanglanews2017-11-11137850 - - - -

ফ ৭ ২০১৭-১৮ ৭ ৩ ৭৪

( ) ও

( - ) ১ ১৫০ ৫৮

(২০১৬-১৭) ১ ৭৫ ৩ ৬০ ৭

৩ ১ ১৫৯ ২০ ৭৪

ও mdash

৬ ৬৫ ১৭ ৬৩

mdash ও ও

১৫ ৪১ ২২ ৬৯ ১০

১৯ ৬৬ ১০ ২০ ২২

mdash ও ও ও

৩৯ ৫১ ও ২ ও

১৬ ৪৬ ও ও ৬ ৯৯ ও

৩ ৮৫ ৯ ৯৫

১৯ ৮২

৮০

ও ( )

mdash

Daily News Flash 12th November 2017

49

ও ও

Source httpbonikbartanetbanglanews2017-11-10137755 - - - -৭- - --

ফ - ফ ও -ও

-ও

-ও

২৯-১০-২০১১ ৩ ( ) ২৮-১০-২০১৪

৩ ( ) ২৮-১১-২০১৬

২৮-১০-২০১৭ ৩ ( )

২০১৬-১৫৮১৩৪ ৪৪ ০৭-০৮-

২০১২ ১২(৬) ২ ( ) ৬ ( )

-ও - ও ২ ( )

৬ ( ) ও ও

-ও ৩ ( )

-

ও ও

১৯৯৪

২ ২২-০৫-২০১২ -ও ৩

- -

১৯৯৪

-ও

- ও

( )

১৯৯৪

১৯৯৪ -ও

Source httpwwwsharenews24comindexphppage=detailsampnc=1ampnews_id=6587

Daily News Flash 12th November 2017

50

ফ ফ

১৫ ও

-( ) ও

৪৯

১৬ ৮৫

৫১ ৪৯

৪ ৩৬

১৯১৩

১০০ ও ১৯০১ ১৯৬০

Source httpswwwdailystockbangladeshcom - - - -

- ( -১)

( ) ৮

৩০০ ও

( ) ১৬

- ২২৮ ৪৯ ১৮৩ ২০১৮

( ) ও

১৫০

( ) ও ৪০ ৩০

ও ও

ও ও

Source httpswwwdailystockbangladeshcom - - -

Page 24: Daily News Flash, 12th November, 2017 -  · PDF filebanglalink's revenue falls 4.57pc in q3 ... banks lack remedial strategy while npl rises worryingly

Daily News Flash 12th November 2017

24

Officials at the Ministry of Finance (MoF) said they have already discussed the issue with the Japan International Cooperation Agency (JICA) We are hopeful of receiving funds under its upcoming 39th Official Development Assistance (ODA) package to finance six development projects a senior MoF official told the FE He said a JICA mission in September-October last completed its visit to Bangladesh to explore the possibilities of financing the proposed projects We are hopeful of signing the 39th ODA package with JICA within a couple of months he said After signing the loan deal the largest bilateral donor will start disbursement of funds from the proposed $183 billion aid package for the six development projects the MoF official added The proposed six projects under the 39th ODA package are Matarbari port development Dhaka MRT line-6 construction (phase-III) Dhaka MRT line -5 feasibility study Matarbari ultra super critical coal-fired power plant (phase-IV) Jamuna Railway Bridge construction and Health service strengthening project A senior official of Economic Relations Division said the proposed 39th ODA package will be very useful for Bangladesh as it will be utilised to develop the Matarbari port ongoing Matarbari power plant project conduct feasibility study and detailed design of the MRT line-5 in Dhaka and to construct railway bridge over the River Jamuna All of these projects are very important for the country to ensure smooth transportation and uninterrupted power supply he added Japan is the largest bilateral development partner of Bangladesh Over last 5-6 years it has enhanced its aid with confirmation of more than US$10 billion worth of funds under each of the aid packages In the last 38th ODA package signed in June 2017 JICA provided Yen 178223 billion ($164 billion) for utilising in six development projects on transport infrastructure power and water sector improvement works In June 2016 Japan signed the 37th ODA deal worth $150 billion (17354 billion Japanese Yen) with Bangladesh and in December 2015 it inked the 36th ODA package confirming $12 billion concessional loan for six development projects Under the last 38th ODA package JICA offered $700 million (Yen 76825 billion) for Hazrat Shahjalal International Airport Expansion project $480 million (Yen 5273 billion) for 2nd Kanchpur Meghna and Gumti bridges construction $50 million (Yen 5593 billion) for Dhaka Mass Rapid Transit development project (Line 1) $100 million (Yen 10745 billion) for Matarbari ultra super critical coal-fired power plant $190 million (Yen 20477 billion) for Dhaka underground substation construction project and $110 million (Yen 11853 billion) loan for small scale water resources development project Japan has so far provided Bangladesh with nearly US$12 billion in assistance since the financial year (FY) 1971-72 Source httptodaythefinancialexpresscombdfirst-pagegovt-seeks-us183b-under-39th-japanese-oda-package-1510417739

SUMMIT GROUP ENTITIES TO ISSUE PREFERENCE SHARES WORTH $1250M A subscription closing ceremony to raise capital through issuance of preference shares worth BDT 1000 million (USD 1250 million) for Summit Barisal Power Limited amp Summit Narayanganj Power Unit II Limited was held recently at Pan Pacific Sonargaon Dhaka said a statement LankaBangla Finance Limited acted as the Mandated Arranger LankaBangla Investments Limited acted as the Issue Manager and The City Bank Limited acted as the Agent Account Bank amp Custodian Bank to raise the fund In the event Mr Lt Gen (Retd) Engr Abdul Wadud Managing Director of Summit Barisal Power Limited amp Summit Narayanganj Power Unit II Limited Mr Khwaja Shahriar Managing Director amp

Daily News Flash 12th November 2017

25

CEO of LankaBangla Finance Limited Mr Mohammed Nasir Uddin Chowdhury Managing Director of LankaBangla Capital Market Operations Mr Mominul Islam Managing Director amp CEO of IPDC Finance Limited Mr R Q M Forkan Managing Director amp CEO of Bangladesh Commerce Bank Limited Mr Faruq M Ahmed Additional Managing Director of Trust Bank Limited Mr Akthar Hamid Khan Deputy Managing Director of Pubali Bank Limited Mr Arif Hasan Khan Vice President of Modhumoti Bank Limited Mr Mohammad Ibrahim Khalil FCA Vice President amp CFO of Bank Asia Limited and Mr Mahbub Jamil Vice President and Head of Structured Finance of The City Bank Limited along with other senior officials from the companies were present Source httptodaythefinancialexpresscombdstock-corporatesummit-group-entities-to-issue-preference-shares-worth-1250m-1510411878

BMBA URGES MUHITH TO EXEMPT INVESTMENTS BY MF SPONSORS Bangladesh Merchant Bankers Association (BMBA) has urged the finance minister to exclude some components including sponsors investments in mutual funds (MFs) from the banks exposure to the capital market It made the request for ensuring an environment conducive to gradual development of the capital market according to a proposal submitted to Finance Minister AMA Muhith last week The BMBA said the long-term or strategic investments needed to be excluded while calculating the exposure as these investments were not intended for frequent trading Non-convertible preference shares and non-listed securities also need to be excluded from the capital market exposure as it will never influence the capital market volatility it said in a letter to the minister According to the letter the MFs are passive investments where investors themselves are not involved in investment decision making and such fund portfolios are mostly of long-term nature than frequent trading On the other hand the sponsors of the MFs need to hold 10 per cent of the investment until liquidation of the fund So considering the fact the sponsors portions in MFs need to be excluded from the banks capital exposure said the BMBA proposal As per the Banking Act 1991 it said reporting requirement is on solo basis but the central bank has introduced consolidated calculation which is of dual effectdouble counting in the market exposure This kind of restrictive measure creates panic situation in the market and may hinder the potentials and prospects of the capital market as a whole the BMBA said It also said that this kind of practice needed to be stopped as such requirements and reporting practice would further squeeze the market and that the investors would lose their interest The BMBA said some organisations have invested on strategic purpose and were holding positions in the board and their exposure increased with rising the market price of MF units On the other hand in compliance with the securities rules they are unable to sell shares to reduce exposure the BMBA said terming the situation complicated In its letter the BMBA said that the capital market exposure of some banks and financial institutions increased without fresh investments following the upward trend of the market price as the exposure is calculated on the basis of market price If the banks need to go for selling off their excess exposure this will create unnecessary selling pressure on the market said the BMBA The association requested the finance minister to consider their proposal to facilitate the growth of the capital market by its own strength and prospect Source httptodaythefinancialexpresscombdstock-corporatebmba-urges-muhith-to-exempt-investments-by-mf-sponsors-1510411950

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ATIUR STRESSES ROLE OF REGULATORS IN DIGITAL FINANCIAL INCLUSION Former Bangladesh Bank Governor Dr Atiur Rahman chairs a session at the 5th Biennial Competition Regulation and Development Conference at Jaipur in India on Thursday Success of digital financial inclusion depends on the prudent role of the regulating bodies to a great extent And the recent progress in Bangladesh in this regard is a good example for the rest of the world to follow said Dr Atiur Rahman former governor of Bangladesh Bank says a statement He was chairing a session at the 5th Biennial Competition Regulation and Development Conference at Jaipur India on Thursday The three-day conference is being hosted by CUTS International and OECD Speakers of the session included Ravinder S Aurora Senior Vice President of Mastercard David Ongolo Kenyan Competition Authority and Dr A K EnamulHaque Professor of East West University Dhaka Many developing countries survived and even thrived during the last global financial crisis because they chose to follow a broad-based financial inclusion strategy And digital solutions played a crucial role in this financial inclusion drive said Dr Rahman He added that service providers must focus on reaching out to the customers in the rural socio-economic conditions Dr Rahman said that experience from Bangladesh can answer many of the burning questions regarding digital financial inclusion The central bank of the country has facilitated bank-led digitisation drive Be it Mobile Financial Service or be it Agent Banking the Bangladesh Bank has encouraged traditional players (ie the commercial banks) to lead the way And it has been proven to be very successful He also said that the world is witnessing only the beginning of the digital finance revolution Hence we must learn from all these experiments share our experiences and know-hows Only then we can work towards shaping global standards and practices Dr Rahman finally asked all central banks to be more proactive and collaborative with other stakeholders including non-traditional financial service providers to facilitate orderly development of digital financial inclusion so that consumers interests are better protected The grievance redressal mechanism developed in Bangladesh Bank with infusion of state of the art technology to gain trust of the customers in financial inclusion was also discussed widely in the session The panelists highly appreciated Bangladeshs regulatory move with public interest in mind using latest technology for replicable digital financial inclusion Source httptodaythefinancialexpresscombdtrade-marketatiur-stresses-role-of-regulators-in-digital-financial-inclusion-1510416319

FAO FEARS NEGATIVE BD FOOD OUTPUT GROWTH ON FLOODING Recent flooding has dampened the outlook for Bangladesh a likely third successive season of little or negative food production growth mainly rice reports UNB quoting FAO Barring major setbacks production recoveries could instead permit Bangladesh and Sri Lanka to slightly lower their 2018 imports to 11 million and 450 000 tonnes respectively according to the latest Food Outlook published by the UN Food and Agriculture Organisation (FAO) Among other rice importers Bangladesh Iraq Nigeria and the Philippines are all similarly predicted to replenish their inventories according to the report a copy of which obtained by the news agency These gains are however likely to be offset by stock reductions in the Republic of Korea Madagascar Sri Lanka and the United Republic of Tanzania all linked to output shortfalls Although the use of rice as animal feed is being sustained by the release of supplies from government granaries in Japan the Republic of Korea and Thailand more affordable feedstuffs are expected to displace rice in most other countries especially in Bangladesh China (Mainland) and Vietnam

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Since the previous Food Outlook report a series of unfavourable climate-related events have affected main paddy crops in the Northern Hemisphere which have now reached the harvesting stage This has been the case in Asia where unlike 2016 the critical Northern Hemisphere summer months were characterised by mixed growing conditions that inhibited planting expansions As a result FAOs latest forecast of world rice production in 2017 points to a broadly stable output level of 5008 million tonnes Production in Asia is now forecast to fall 550 000 tonnes below the 2016 bumper harvest to 4525 million tonnes The UN agriculture agency has said the cost of importing food is rising in 2017 driven by increased international demand for most food stuffs as well as higher freight charges The cost of importing food is forecast to rise six per cent in 2017 to $1413 trillion making it the second highest bill on record while food commodity prices have been generally stable according to the latest Food Outlook that expressed concern about the economic and social impact of this trend on poor countries Although weather disruptions are set to stall production growth this season global rice supplies are still forecast to exceed utilisation enabling a small expansion of world rice inventories Global trade is expected to rise only modestly in 2018 after staging an 8 per cent recovery in 2017 The food import bills are set to increase by double-digit rates for least-developed countries (LDCs) and low-income food-deficit countries Aromatic rice varieties have risen eight times faster than the FAO All Rice Index which is up four per cent on the year However the higher import costs come at a time when inventories are robust harvest forecasts are strong and food commodity markets remain well supplied The export of tropical fruits is promising for poverty relief and rural development as almost all production takes place in developing countries The export volumes of mango pineapple avocado and papayas are on course to achieve a total combined value of $10 billion this year according to the Food Outlook Source httptodaythefinancialexpresscombdfirst-pagefao-fears-negative-bd-food-output-growth-on-flooding-1510336161date=11-11-2017

STOCKS NUDGE HIGHER AS BANK TELECOM ISSUES SURGE Stocks extended the winning streak for the two consecutive weeks that ended Thursday as enthusiastic investors continued their buying appetite on bank and telecommunication issues Market operators said the positive momentum in some large-cap issues especially from banking telecom pharmaceuticals and food amp allied sectors helped the bourse to stay upbeat The banking sector posted the highest return of 445 per cent as 27 out of 30 listed banks ticked higher Four banks gained more than 10 per cent each The telecom sector also surged 342 per cent as Grameenphone the countrys largest market-cap listed companys shares price jumped 40 per cent to close at Tk 45690 each The market extended the winning streak riding on heavyweight bank and telecom issues said an analyst at a leading brokerage firm The week featured five trading sessions as usual Of them first session saw marginal correction while last four closed higher Week-on-week DSEX the prime index of the Dhaka Stock Exchange (DSE) jacked up by 9454 points or 155 per cent to finish at 6193 The two other indices -- the DS30 index and the DSE Shariah Index (DSES) - also closed higher at 2244 and 1341 points

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Both the indices added 4264 points and 1218 points respectively During the week banking pharmaceuticals and telecommunication sector stocks contributed more to keep the market up commented City Bank Capital Resources a merchant bank in its weekly analysis The port city bourse Chittagong Stock Exchange (CSE) also ended higher The CSCX advanced 180 points or 156 per cent to finish at 11618 International Leasing Securities a stockbroker noted that the market observed an upbeat vibe throughout the week riding on the news of soaring of net foreign investment in the capital market in the first 10 months of 2017 compared to the same period of last year Net position of foreign portfolio with the DSE stood at Tk 1623 billion in January-October compared to Tk 80 billion in the same period a year ago However some investors were reshuffling their portfolios after observing the year-end corporate declarations and first quarter earning disclosures the stockbroker added According to EBL Securities The market witnessed an upbeat tune throughout the week riding on regained confidence among the market participants The stockbroker noted that preferable year-end and quarter-end earnings declarations by several companies helped them to remain positive about market The total turnover for the week amounted to Tk 3591 billion on the DSE which was Tk 3027 billion in the week before The daily turnover averaged Tk 718 billion which was nearly 19 per cent higher than the previous weeks average of Tk 605 billion Block trade accounted for 16 per cent of the total weekly turnover where stocks like BATBC Beximco Pharma Shahjalal Islami Bank Square Pharma and Singer Bangladesh dominated the block trade board Banking sector kept its dominance over the turnover chart grabbing 35 per cent of the weeks total transaction followed by engineering with 18 per cent and pharmaceuticals 11 per cent Out of 336 issues traded 207 closed lower 116 ended higher and 13 issues remained unchanged on the DSE trading floor during the week The market capitalisation of the DSE rose 137 per cent as it was Tk 4123 billion on the opening day of the week and it stood at Tk 4179 billion on closing day of the week City Bank topped the weeks turnover chart with 5390 million shares worth Tk 184 billion changing hands followed by IFAD Autos with Tk 121 billion Brac Bank Tk 10 billion LankaBangla Finance Tk 994 million and Dhaka Bank Tk 926 million Reckitt Benckiser was the weeks best performer posting a gain of 1925 per cent while Stylecraft was the weeks worst loser slumping by 3322 per cent A new issue - Oimex Electrode-- made debut last week and soared 1042 per cent from its offer price of Tk 10 in the first trading day on Monday Source httptodaythefinancialexpresscombdstock-corporatestocks-nudge-higher-as-bank-telecom-issues-surge-1510332934date=11-11-2017

BANGLADESH GROWING AS DENIM HUB The growing global demand for fashionable denim wear encouraged both local and foreign entrepreneurs to make fresh investment in Bangladesh participants and organisers of Bangladesh Denim Expo have said Many of the 30 local denim mills are going for expansion while a couple more will come into operation with fresh investment within next two or three years they said Some foreign companies are opening offices or setting up factories in Bangladesh they added The seventh edition of the two-day Bangladesh Denim Expo was held in the city recently with the theme transparency to highlight the need for transparency in the entire denim supply chain

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A total of 65 exhibitors from 12 countries participated in the show while more than 12 thousand visitors from across the world registered online to attend the two-day expo organisers said Talking to the FE on the sidelines of the expo Md Khalid Mosharof assistant general manager at Dekko Group said the group invested Tk 15 million in setting up a new factory of 44 lines at Ashulia that would go for denim item production in June next The main reason is to tap the growing global demand he said Echoing him Syeed Ahmed Chowdhury general manager operation at Square Denim said the company expanded its denim fabric production capacity to 30 million yards from the existing 15 million yards per month mainly to meet the demand He however opined that the expansion is taking place more in garment segments than in fabric production There is no alternative to expansion to sustain the existing business and achieve the $50 billion garment export earnings target by 2021 Sharif Zahir managing director of Ananta Group said stressing the need for positive branding of the sector Meanwhile Landes a German denim accessories maker started production in its new factory at Savar from this month It invested US $05 million We opened the factory in Bangladesh as we think this is the hub for denim business and there is a lot of business prospects here Manfred Slowik chief operating officer of Landes told the FE at his stall at the expo By the end of next year the total workforce in our new plant will be 120 people as we are recruiting new people from existing 30 Mr Slowik said Landes has a target to produce 500 million pieces of leather patches used in denim trousers as accessories in a year at its Savar plant from where such accessories will be supplied to the whole Asian region Many big brands like HampM VF and Walmart are their customers he said Nezahat Boni senior account manager of Orta a Turkish denim maker said her company supplies 30 million metres of denim fabrics in Bangladesh in a year against only 800 meters in 2011 We opened an office in Bangladesh in 2011 as we cannot ignore the importance of this country as a denim hub she said Prosperity Textile a Chinese company opened its office in Dhaka last year said Md Mujibul Hoque the companys Bangladesh Sales Director The company has targeted sale of 100 million yards a year across the globe while it also targets 30-40 per cent of their sales in Bangladesh Bangladesh is now the top denim products supplier to the European Union overtaking China and third largest to the US after China and Mexico industry people said Bangladesh supplies denim products to major global buyers and retailers including levis G-Star Raw HampM Tesco Wrangler Hugo Boss Walmart and Gap Source httptodaythefinancialexpresscombdtrade-marketbangladesh-growing-as-denim-hub-1510332061date=11-11-2017

EXPORTS UP 70PC IN JULY-OCTOBER Countrys export earnings grew by 703 per cent to US$1150 billion during first four months of the current fiscal year (FY 2017-18) according to official data released Thursday The earnings were $1079 billion in the same period (July-October) last FY In October 2017 the exports grew by 642 per cent to $284 billion the Export Promotion Bureau (EPB) data showed The overall exports in the first four months slightly (074 per cent) fell short of the periods target In October however the exports were 628 per cent higher than the months strategic target Readymade garment shipments fetched $943 billion marking 699 per cent growth during the period as compared to $882 billion in the same period of last FY

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The woven items registered 385 per cent growth in earnings to $445 billion than that of $428 billion in the same period of FY 2016-17 The earnings from knitwear export during the period grew by 995 per cent to $498 billion from $453 billion in the corresponding period of last FY Jute and jute goods exports rose by 1646 per cent to $34501 million from $29626 million in the same period of FY17 The earnings from agriculture products grew by 2022 per cent during the period while home textiles by 2037 per cent The earnings from leather and leather products however fell marginally by 002 per cent to $42844 million during the period than that of $42851 million in the same period last FY The export earnings from frozen food and live fish grew by 1541 per cent to $22691 million from $19661 million of the corresponding period of last fiscal Mahmud Hasan Khan vice president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) said the exports in the first four months of the current fiscal year fell short of the expected growth mainly because of failure in maintaining the lead time and short supply of gas and electricity Terming the knitwears growth satisfactory he said woven items manufacturers have been struggling to cope with the new challenge as buyers were reducing the volume of orders due to failure in meeting the lead time Without efficient port and strong backward linkage industry especially for the woven sub-sector it will be difficult for the sub-sector to bounce back he feared He pointed out that maximum of the woven fabric requirements were being met through imports But it was taking too much time to clear the imported fabrics and additional charges as a result at the Chittagong seaport that was facing unbearable congestion The government should provide necessary policy support to the exporters to establish strong backward linkage industry for the woven sub-sector he added Source httptodaythefinancialexpresscombdfirst-pageexports-up-70pc-in-july-october-1510248870date=10-11-2017

GAS CRISIS HURTING OUTPUT IN INDUSTRIAL BELT Factories in the countrys Tongi-Gazipur industrial belt have been facing acute gas crisis over the past few months following diversion of gas to upstream power plants The crisis has deteriorated further this week albeit some improvements for a few days last week said local industrialists and businessmen According to them if the ongoing gas crisis persists they may be forced to shut down their factories Officials of the Titas Gas Transmission and Distribution Company Limited (TGTDCL) however blamed the Petrobangla for the gas crunch Sources concerned say the industrial belt of Tongi-Gazipur is suffering badly for about four to five months from low pressure of gas coupled with poor electricity voltage -- often resulting in huge volume of industrial wastages and reduction of production efficiency According to the industry insiders a factory in the industrial belt requires 04 PSI (production per square inch) as optimum gas pressure but the pressure at times comes down to as low as 01 PSI these days -- especially during the daytime Gas pressure in the area becomes normal around 10pm11pm and stays for not more than 08 hours until 6am7am an entrepreneur of the industrial belt informed Asked an official of Titas said they are at present getting nearly 250 million cubic meters (MCM) less in recent weeks against their current demand of 1800 MCM gas in Titas franchise The downstream Titas franchise area covers greater Dhaka region which includes Gazipur alongside some other adjoining districts and greater Mymensingh he said

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A Petrobangla source however cited gas supply on priority basis to a number of upstream projects including power plants as reason behind supply shortage When asked Managing Director of Akij Group Sk Bashir Uddin termed the situation really worrisome According to him two of Akij Group companies situated in the area -- Akij Printing amp Packages Limited and Dhaka Tobacco Industries -- jointly contributed nearly Tk 35 billion (3500 crore) to the national exchequer in the 2016-17 fiscal year But were very much worried about our industrial output this year as production disruption following the twin crises involving gas supply and power supply Both will eventually disrupt our retail business in every phase he quipped This often results in a high rate of industrial wastage and reduction of production efficiency he added Bangladesh Auto Re-rolling Steel Mills amp Association Chairman Manwar Hossain who is also Anwar Group Managing Director echoed the same concern Factories in the industrial belt are now operating at one-third of their capacity which may lead to labour unrest and default of huge sum of bank loans he said Such disruption of production he cautions may even cause sudden shutdown of factories According to him none of the victims in that case will be the wilful defaulters -- they will be the victims of circumstances The businessman who has a steel factory called Anwar Ispat Limited in the industrial belt called for immediate introduction of ECM (electronically controlled meters) to check unabated gas engineering in the area which he deems to be yet another reason for gas supply crunch Titas officials according to him are encouraging co-generation scheme to help address the severe gas crisis But he said co-generation will require stable and smooth gas supply Government should ensure at least 10-15 years of smooth gas supply to encourage co-generation as what he said any industrial investment requires 20 years of payback period TGTDCL Deputy Managing Director Engineer Abdul Wahab Talukdar who is also the Project Director of Sripur-Joydevpur Transmission Pipeline Project said We cannot do anything to address the crisis if there is a lack of adequate gas supply Mentioning that all factories in the industrial belt are like my babies he unequivocally said Titas is not at fault He also admitted that priority-based power plants gas supply being the reason behind the current spell of gas crunch We have already started introducing electronic volumetric corrector (EVC) to stop illegal gas use in the area he said Factories he added should go for co-generation scheme for protecting their own interest Co-generation means utilising and absorbing heat generated from gas generators which Mr Wahab said will save energy A section of the businessmen however called for stopping fertiliser production and distributing the same among people at a subsidised price after importing it to facilitate smooth supply of gas to other industries Even if the government stops fertiliser production and opts for importing it for distribution at a subsidised rate there will only be an insignificant loss compared to the overall losses now being incurred said an industrialist who has more than one factory in the industrial belt Local sources said illegal and unapproved gas connections in various industries in and around the zone are also affecting gas supply badly among other reasons Source httptodaythefinancialexpresscombdfirst-pagegas-crisis-hurting-output-in-industrial-belt-1510249018date=10-11-2017

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SINGLE PERSON MAY FORM COMPANY A single person may form a commercial firm under a provision of the companies law being updated along with some other major business-stimulating measures Official sources said the government is considering incorporating some new provisions including one allowing individuals to form any company into the updated Companies Act The other provisions are formation of an appellate tribunal to resolve legal matters without wasting much time widespread automation of companies work and submission of annual company reports online Earlier the Ministry of Commerce (MoC) had received some recommendations from the stakeholders on how to update the law they added We got most of the recommendations from the stakeholders We hope we will be able to prepare the draft Companies Act within a month Md Obaidul Azam director trade organisations (DTO) told the FE He said the recommendations the ministry had received so far were being scrutinised before preparing a draft for updating the companies act Earlier different trade bodies had sent their respective recommendations to the MoC for incorporation into the law The MoC will hold a meeting with the countrys apex trade body after assessing the recommendations and suggestions the ministry official said Talking to the FE a leader of an influential trade body said they had sent some recommendationssuggestions to the MoC for the new Companies Act for betterment of the countrys trade and business According to Section 2 (1) (c) of the Companies Act 1994 Company means a company formed and registered under this Act or an existing company Thus a company is an association of persons formed under the Companies Act 1994 with a view to achieving some common objectives Though a company is regarded a legal person it possesses similar rights and owes similar obligations like a natural person Now any individual fulfilling the new criteria may be allowed to form a firm Source httptodaythefinancialexpresscombdfirst-pagesingle-person-may-form-company-1510249090date=10-11-2017

DSE TURNOVER CROSSES TK 80 BILLION MARK The daily turnover on Dhaka Stock Exchange (DSE) exceeded the Tk 80 billion mark on Thursday as investors took fresh exposure to the banking sector Turnover a crucial indicator of the market reached Tk 870 billion on the countrys premier bourse jumping 14 per cent from the previous days transaction of Tk 765 billion It was the biggest single-day transaction since October 11 when the turnover totalled a record Tk 1092 billion Along with rising turnover DSEX the prime index of the Dhaka bourse continued to keep its gaining momentum closing 3449 points higher at 6193 points DSEX which replaced the DGEN in nearly five years back added more than 121 points or 20 per cent in the past four consecutive sessions The two other indices -- the DS30 index and the DSE Shariah Index (DSES) -- also followed suit to end at 2244 and 1341 points after gaining 1422 points and 443 points respectively Brokers said the market maintained the bullish trend for the four straight sessions as the enthusiastic investors chased the banking sector stocks The market continued the bullish trend for the four consecutive sessions as the enthusiastic investors were active for the banking food and engineering sector stocks commented EBL Securities a stockbroker in its regular market analysis

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It noted that the core index remained positive throughout the session as optimistic investors kept buying sector-wise stocks while some rebalanced their portfolios Meanwhile share price of newly listed Oimex Electrode continued to decline for the three consecutive sessions after unusual hike during its debut trading on Monday The companys share price fell 763 per cent to close at Tk 9810 on Thursday after jumping more than tenfold during the debut trading which experts termed unusual Block trade contributed Tk 241 million to the days total turnover with stocks like BATBC Square Pharmaceuticals Singer Bangladesh and Beximco Pharma dominating the block trade board Among the major sectors pharmaceuticals posted the highest gain of 122 per cent followed by banking sector (083 per cent) food amp allied (067 per cent) engineering (033 per cent) financial institutions (003 per cent) and power (003 per cent) Only telecommunication sector faced a 045 per cent correction A total number of 0140 million trades were executed in the days trading session with trading volume totalling 23171 million securities The total market capitalisation of the DSE stood at Tk 4179 billion against Tk 4168 billion in the previous session Losers however took a modest lead over the gainers as out of 325 issues traded 140 closed lower 130 closed higher and 55 remained unchanged on the DSE trading floor City Bank dominated the turnover chart for the second day in a row with 1035 million shares changing hands closely followed by Dhaka Bank LankaBangla Finance Brac Bank and Keya Cosmetics Reckitt Benckiser was also the days best performer posting a gain of 624 per cent while Qasem Drycells was the days biggest loser shedding 1235 per cent The port city bourse Chittagong Stock Exchange (CSE) also ended higher with its Selective Categories Index -- CSCX --gaining more than 62 points to close at 11618 Losers beat gainers as 113 issues closed lower 97 closed higher and 37 remained unchanged on the CSE The port city bourse traded 1604 million shares and mutual fund units generating a turnover of Tk 483 million Source httptodaythefinancialexpresscombdstock-corporatedse-turnover-crosses-tk-80-billion-mark-1510245247date=10-11-2017

TEN COS GRAB 32PC TURNOVER ON DSE The banking sector continued to dominate the transaction chart of the Dhaka Stock Exchange (DSE) accounting for 39 per cent of the total turnover on Thursday Four banks made their way to the top 10 turnover chart with City Bank leading the chart for the second day in a row Brokers said the investors chased the banking sector issues as more than 63 per cent of listed banks showed positive earnings in the third quarter (July-September period) Meanwhile top 10 traded companies including four banks grabbed more than 32 per cent of turnover on the Dhaka bourse The total turnover on the premier bourse reached Tk 870 billion up 14 per cent from the previous days Tk 765 billion The most active shares in terms of value included City Bank Dhaka Bank LankaBangla Finance Brac Bank Keya Cosmetics Square Pharmaceuticals Beximco Pharmaceuticals IFAD Autos Exim Bank and IDLC Finance According to statistics available with the DSE about 1035 million shares of City Bank were traded generating a turnover of Tk 553 million or 635 per cent of the total transactions

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The companys share price hovered between Tk 5240 and Tk 5440 before closing at Tk 5390 advancing 228 per cent over the previous session Dhaka Bank came in next with shares of Tk 395 million changing hands contributing 454 per cent to the total turnover The banks share price closed 347 per cent higher at Tk 2380 LankaBangla notched the third spot with shares of Tk 266 million changing hands making up 305 per cent of the total turnover Its share price ended 063 per cent higher at Tk 6430 Brac Bank emerged the fourth with shares of Tk 257 million changing hands grabbing 295 per cent of the total turnover The banks share price settled 123 per cent higher at Tk 107 Keya Cosmetics featured a turnover of Tk 247 million or 284 per cent of the total turnover Its share price closed 201 per cent higher at Tk 1520 The turnover of Square Pharma was Tk 241 million or 276 per cent of the total transaction Its share price ended 612 per cent down at Tk 27890 Beximco Pharma featured a turnover of Tk 211 million or 242 per cent of the total turnover Its share price advanced 428 per cent to close at Tk 10960 The turnover of IFAD was Tk 208 million accounting for 238 per cent of the total turnover Its share price closed at Tk 14070 gaining 195 per cent Exim Bank featured a turnover of Tk 196 million or 225 per cent of the total transaction The banks share price inched up 055 per cent to close at Tk 1830 IDLC also made its way to the top ten turnover chart with shares of Tk 188 million changing hands Its share price closed 223 per cent higher at Tk 9150 Source httptodaythefinancialexpresscombdstock-corporateten-cos-grab-32pc-turnover-on-dse-1510245290date=10-11-2017

FOREIGN INVESTMENT HIKE INFO DRIVES MODERATE GAINS ON DSE The Dhaka bourse Thursday closed the session posting a moderate rise in the broad index and turnover amid mixed performance displayed by major sectors On the day most of the major sectors declined but the turnover crossed Tk 80 billion-mark after two sessions on Dhaka Stock Exchange (DSE) mainly because of investors increased participation in the banking sector According to a market review of International Leasing Securities positive momentum in some big-cap stocks especially from bank food and engineering sectors helped the bourse to close in green The market started the session with a positive note and the DSE broad index DSEX witnessed little ups and downs before closing higher According to AT Capital Partners the market remained sideways till the midsession The DSEX rose again in the second half of the session and closed at 61936 up by 345 points The shariah based index DSES and blue chip index DS30 also rose marginally The turnover stood at above Tk 870 billion which was 1370 per cent higher than the turnover of the previous session The confident drive was initiated by the investors buying spree riding on the news of doubling net foreign investment in stocks year-on-year in the first ten months of 2017 said the International Leasing SecuritiesAmong the gaining sectors bank advanced 08 per cent and engineering 03 per cent Of the losing sectors pharmaceuticals amp chemicals declined 11 per cent telecommunication 05 per cent and textiles 09 per cent The banking sector grabbed 384 per cent of the market turnover at the premier bourse DSECity Bank topped the turnover chart with a value of Tk 553 million followed by Dhaka Bank LankaBangla Finance BRAC Bank and Keya CosmeticsReckitt Benckiser (Bd) limited topped the gainers chart with a rise of 624 per cent to close at Tk 18456 while Quasem Drycells was the worst loser after declining 1235 per cent to close at Tk 8230 Source httptodaythefinancialexpresscombdstock-corporateforeign-investment-hike-info-drives-moderate-gains-on-dse-1510245365date=10-11-2017

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MORE JAPANESE COMPANIES SEEK TO INVEST IN BANGLADESH Japanese Ambassador to Bangladesh Hiroyasu Izumi has said the Japanese investors are keen to invest in Bangladesh considering the lucrative offer and ideal atmosphere for foreign investment reports BSS The Japanese investors expressed more interest to invest in Bangladesh at recently-held the third round of Public-Private Economic Dialogue between Bangladesh and Japan he said while visiting the Chittagong Export Processing Zone (CEPZ) on Thursday The envoy expressed the hopes that Japanese investment in the Export Processing Zones (EPZs) will increase after the successful dialogue said a press release More and more Japanese companies will come to invest in this country he added General Manager of CEPZ Khorshid Alam maed a PowerPoint presentation highlighting the overall scenario of EPZ as well as Bangladesh Export Processing Zone Authority (BEPZA) Mentioning Bangladesh EPZs as the Bonanza for Investors he said investors from 38 countries have set up industries in the EPZs and invested US $442 billion He informed the ambassador that BEPZA has ensured three layer security system including 24-hour CCTV surveillance in the key points of EPZ and factory premises for the safety of the investors Source httptodaythefinancialexpresscombdtrade-marketmore-japanese-companies-seek-to-invest-in-bangladesh-1510250285date=10-11-2017

Source httpwwwarthosuchakcomarchives388209

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৩০ ২০১৬ ৩৫ ৬৩

৫ ( ) ৩ ৪৯

Daily News Flash 12th November 2017

37

Source httpwwwarthosuchakcomarchives387762

lsquo rsquo

( )

lsquo - rsquo

( ) ও

২০০২ ( ২ )

৫৪৬

ও ১৫

ও ১৫ ৭৫ ও

১০-১২ ১

১৫৫ ৬৭

ও ২০১০

ও ও ও -

ঋ ঋ

১৫ ৪ ৩

২ ২ ৪ ১৫ ৬

( )

Source httpwwwarthosuchakcomarchives388276

- ও ও

Daily News Flash 12th November 2017

38

৩৮ ও ৪৩

১০০ ৬১ ৫৮ ২২৫ ১ ০৫

Source httpwwwarthosuchakcomarchives387849

- ও ( -২)

৬ ও

ও ৫ ৩০০

ও ও

৭ ২০০

( ও )

ও ও

ও ও

২ - ও mdashlsquo

rsquo ও

-

৫ ৩০০

- ১০ - ৪২৯ -

৩২৮

- ১০

( )

২০১৪

( ও) ও ( )

( )

২ ও ও

ও ও ও

ও ২০১১- ও

ও ( )

Daily News Flash 12th November 2017

39

(১০ ) ৫ ৭৬৩

৬৩ ও

ও ( )

- ২০১৪ ও

ও ও

Source httpwwwprothom-alocomeconomyarticle1362971

ও ও

ও - ও

২০১৬-১৭ ২০ ও

ও ও lsquo rsquo

ও ১০ ও

৭৭ ২০১৭

১৬ ২৭ ও

২০১৬-২০১৭ ২০ lsquo rsquo

ও-

ও ও ও

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564382

ফ ( ও) ১১

ও ও

ও lsquo১১ ও rsquo

১০ ১৩

( ) ( )

Daily News Flash 12th November 2017

40

- ও

-

( )

( )

lsquo ও

rsquo ও

২৬ ১০

১৬

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564383

১ ৫০

ও ২০৫০

২৩

১৬ ৫৯ ২০১১

২০৩০

( )

ঋ ও ও

৬৮ ৬৭

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564384

ফ lsquo

ও ও

( ) ও

- ও

( ও ) ( )

Daily News Flash 12th November 2017

41

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564388

৪৫ ও

৮৪ ৮৩

৯২০

২৭ ২৪ ৭ ৩

৬ ৮৯

৯ ১ ৭২ ১৪ ৪৮

৪৫

ও ১৭ ৫০

১৯৩ ১০ ২০১৫-১৬ ৪১৩ ১০ ও ও

২০১৪-১৫ ৩৭৫ ৮০ ৩৫ ৭০

২০১৩-১৪ ৫১৫ ও

৮১ ২ ৫১ ৩ ২০

২ ও

৮৪

৮১

- ও

৮৩

৮২ ৯৫

ও ও - ও

ও ও ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17112200 - - - -

ও ৫০

ও ( ) ( )

ও ও

Daily News Flash 12th November 2017

42

ও ও

১০০

৮ ও

৩০০ ( )

ও ১৫০

২০০ ১০০

২০০

২৭ ৭

ও ও

ও ৩০ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111811 - - - -

-

২৭ ১১

১০

( ) ২৮৪

৬ ২৮ ৭ ১৫১

৭৪

ও - ও

ও - ও

ও ৩

৭ ১ ২৩

৯৪৪ ৮৮২ ১০

ও ৪ ৭ ও

৪ ৩৮ ও ১৫ ৪১ ২২ ৭০

২০ ৩৬ ১৩ ও

৪৬ ২২ ২০ ও

১৭ ৩৭১ ও ও

১৭ ও ৪৩ ও

Daily News Flash 12th November 2017

43

৬ ২০ ও ১৬

৩৫ ২০ ২৭

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111810 - - - - -

ও ও

১৩০ ও ১৪০

৫৫ ও ৯৭ ১১৩

৩৭

৩৪

৬১৯৩ ৬২ ১১৬১৭

৩০ ১৯

ও ও

ও - ও

৪৮ ৩১

১২ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111808 - - - - -

৩৫ ও ১০

ও ( ) ও

১০

ও ও -

২ ৩০০

২০১৪ ও

ও ৭ ২০১৪ ও ২০১৫

৫ ৭ ও ১২ ৮ ২৩

২০১৩ ১ ৪২০ ২০১৪ ১০ ৫ ১ ৫৭০

১৩ ৪ ও ১ ৩৫৮ ১০

২০১৬ ও ৩ ৫ ১ ৩১০ ২০১৪

২০১৬ mdash ২ ১ ঋ

১০ ও ২০১৩

২৯ ৮০ ২০১৪ ৫ ৭ ৩১ ৫০ ২০১৫

১২ ৩৫ ৩০ ২০১৬ ৭ ৩৭ ৮০

Daily News Flash 12th November 2017

44

২০১৪ ২০১৬

৩২ ৩৫ ও ৫০ ১৯

৫৬

১৭ ৪৬ ২০১৪ ২০১৬

৭২ ১০০ ও ১১১

২০১৪ ২০১৬ ১৫ ৬৩

৯১ ১১৪ ও ১১৮ ৮ ২৩

৮০ ৯০ ও

ও -

ও -

ও ও ও

১০ ও

১০ ও ২২

৭১ ১২ ৪২

৩২ ২৬ ও

ও ও

( ) ও

ও ২০২১ ও ও

৫ ১ ১৬

ও ও

Source httpbonikbartanetbanglanews2017-11-12137992 - - -- -

৫০০ ৫০০ ও

ও ৩০ ২০১৭

৫০০ ও ঋ ২০১৮

৩০

১ ২০ ও ১৫০

১১

Daily News Flash 12th November 2017

45

৩০০ ৬০০

( ) ও

১ ২৫ ও ১০

১০ ও

ঋ ও

৩০ ২০১৭ ৩ ও ১২ ও

( ) ২ ১৪ ২ ১

ও ৩০ ১১

( ) ও ও

( - ) ৬৬ ৫৫ ৩০

( ) ৩৪ ৯০

ও ও ও

( ) ও

ও ও ২০১৫ ৩০ ১০ ২০১৬

১২

( ) ৪১ ২০ ও ২৩ ৬০

৫০ ও

২০১৪ ৩০০ ও ১৪৮ ৪৬ ৫০

১৯১ ৬২ ৩৭ ৩১

১২ ৪৫ ৫০ ২৪

ও ( ) ১৬ ৫৩

ও ১৫ ২২

Source httpbonikbartanetbanglanews2017-11-12137966৫০০- - - - -ও -

৬৩

- ও ও

৬২ ৯৪ ৫

৬২

৯০

২০১৪ - -

- ও

২০১৬-১৭ ৫ ৬২ ও ২০১৩-১৪

১২

( ) ৯০

-

ও - - ও -

Daily News Flash 12th November 2017

46

- ও

৬২ ৯৪

২০১৩-১৪ ৭০ ৭৮ ২০১৪-১৫ ৫৪ ২২

২০১৫-১৬ ৩৯ ৩৩ ও ২৬ ২৩

ও ২০১৩-১৪

১২ ৩৬ ২০১৪-১৫ ৫ ৯১ ও ২০১৫-

১৬ ১৭ ৩০ ৫ ৬২

৩০ ২০১৭ ১০

২ ৮৬ ও ৩

ও ২৪ ( )

২৭

১৯৬৪ ১২

৪ ও ও ১৯৭২

ও ( )

ও ৩৪ ৮ ও

৯০

৪৫ ও ৫

১৯৬৪ ১৯৭২ ১৯৮৯

১০০ ও ২৬ ১৬ ২০ ৫৪৩ ৭৭

৫ - ৫১ ১৫ ৬০ ও

৩২ ৯০

Source httpbonikbartanetbanglanews2017-11-11137853 - - - - - -৬৩---

( ) ও

১০

ও ও ও

-

ও ও

ও ঋ ও

ও ২০১৪ ও

ও ও

২০১৩

( ) ও

Daily News Flash 12th November 2017

47

২০১৪

২০১৪-১৬ ও

২০১৪

ও ২০১৪

২০১৫ ২৭ lsquo ও rsquo

ও ও

২০১৬ ২৪

( )

ও ও

- ও

ও ও ১৯৮৩ ২০১৬

ঋ ( ) ৫৬০

৮৬৪

২০১৬ ২০১৯ ও

ও ১৫ ২৫ ৩০ ও ৩০

ও ঋ ও

২০১৬ ঋ ১

৩৪২ ঋ ৬ ৫২ ১২৩

ঋ ২ ৪৪৩ ঋ ১০

৮৪ ঋ ৪০

৭২৬

ও ২০১৬ ৭৪১

৪৫৭

২০৭ ২৪৪

১০ ও

ও ও ও ও ও

Daily News Flash 12th November 2017

48

Source httpbonikbartanetbanglanews2017-11-12137998 - - - - - ও- -

( )

৩০ ২০১৭ ২০

( ) ২ ১ ১ ৫৯ (

) ৩০ ( ) ১৫ ৩৭

ও ২৮ ১১

( ) ২৮

২০১৬ ৩০ ১৮ ২০

২০১৪ ও ২০

১৫ ৩০

১৮ ৮০ ও ৯ ৬০

Source httpbonikbartanetbanglanews2017-11-11137850 - - - -

ফ ৭ ২০১৭-১৮ ৭ ৩ ৭৪

( ) ও

( - ) ১ ১৫০ ৫৮

(২০১৬-১৭) ১ ৭৫ ৩ ৬০ ৭

৩ ১ ১৫৯ ২০ ৭৪

ও mdash

৬ ৬৫ ১৭ ৬৩

mdash ও ও

১৫ ৪১ ২২ ৬৯ ১০

১৯ ৬৬ ১০ ২০ ২২

mdash ও ও ও

৩৯ ৫১ ও ২ ও

১৬ ৪৬ ও ও ৬ ৯৯ ও

৩ ৮৫ ৯ ৯৫

১৯ ৮২

৮০

ও ( )

mdash

Daily News Flash 12th November 2017

49

ও ও

Source httpbonikbartanetbanglanews2017-11-10137755 - - - -৭- - --

ফ - ফ ও -ও

-ও

-ও

২৯-১০-২০১১ ৩ ( ) ২৮-১০-২০১৪

৩ ( ) ২৮-১১-২০১৬

২৮-১০-২০১৭ ৩ ( )

২০১৬-১৫৮১৩৪ ৪৪ ০৭-০৮-

২০১২ ১২(৬) ২ ( ) ৬ ( )

-ও - ও ২ ( )

৬ ( ) ও ও

-ও ৩ ( )

-

ও ও

১৯৯৪

২ ২২-০৫-২০১২ -ও ৩

- -

১৯৯৪

-ও

- ও

( )

১৯৯৪

১৯৯৪ -ও

Source httpwwwsharenews24comindexphppage=detailsampnc=1ampnews_id=6587

Daily News Flash 12th November 2017

50

ফ ফ

১৫ ও

-( ) ও

৪৯

১৬ ৮৫

৫১ ৪৯

৪ ৩৬

১৯১৩

১০০ ও ১৯০১ ১৯৬০

Source httpswwwdailystockbangladeshcom - - - -

- ( -১)

( ) ৮

৩০০ ও

( ) ১৬

- ২২৮ ৪৯ ১৮৩ ২০১৮

( ) ও

১৫০

( ) ও ৪০ ৩০

ও ও

ও ও

Source httpswwwdailystockbangladeshcom - - -

Page 25: Daily News Flash, 12th November, 2017 -  · PDF filebanglalink's revenue falls 4.57pc in q3 ... banks lack remedial strategy while npl rises worryingly

Daily News Flash 12th November 2017

25

CEO of LankaBangla Finance Limited Mr Mohammed Nasir Uddin Chowdhury Managing Director of LankaBangla Capital Market Operations Mr Mominul Islam Managing Director amp CEO of IPDC Finance Limited Mr R Q M Forkan Managing Director amp CEO of Bangladesh Commerce Bank Limited Mr Faruq M Ahmed Additional Managing Director of Trust Bank Limited Mr Akthar Hamid Khan Deputy Managing Director of Pubali Bank Limited Mr Arif Hasan Khan Vice President of Modhumoti Bank Limited Mr Mohammad Ibrahim Khalil FCA Vice President amp CFO of Bank Asia Limited and Mr Mahbub Jamil Vice President and Head of Structured Finance of The City Bank Limited along with other senior officials from the companies were present Source httptodaythefinancialexpresscombdstock-corporatesummit-group-entities-to-issue-preference-shares-worth-1250m-1510411878

BMBA URGES MUHITH TO EXEMPT INVESTMENTS BY MF SPONSORS Bangladesh Merchant Bankers Association (BMBA) has urged the finance minister to exclude some components including sponsors investments in mutual funds (MFs) from the banks exposure to the capital market It made the request for ensuring an environment conducive to gradual development of the capital market according to a proposal submitted to Finance Minister AMA Muhith last week The BMBA said the long-term or strategic investments needed to be excluded while calculating the exposure as these investments were not intended for frequent trading Non-convertible preference shares and non-listed securities also need to be excluded from the capital market exposure as it will never influence the capital market volatility it said in a letter to the minister According to the letter the MFs are passive investments where investors themselves are not involved in investment decision making and such fund portfolios are mostly of long-term nature than frequent trading On the other hand the sponsors of the MFs need to hold 10 per cent of the investment until liquidation of the fund So considering the fact the sponsors portions in MFs need to be excluded from the banks capital exposure said the BMBA proposal As per the Banking Act 1991 it said reporting requirement is on solo basis but the central bank has introduced consolidated calculation which is of dual effectdouble counting in the market exposure This kind of restrictive measure creates panic situation in the market and may hinder the potentials and prospects of the capital market as a whole the BMBA said It also said that this kind of practice needed to be stopped as such requirements and reporting practice would further squeeze the market and that the investors would lose their interest The BMBA said some organisations have invested on strategic purpose and were holding positions in the board and their exposure increased with rising the market price of MF units On the other hand in compliance with the securities rules they are unable to sell shares to reduce exposure the BMBA said terming the situation complicated In its letter the BMBA said that the capital market exposure of some banks and financial institutions increased without fresh investments following the upward trend of the market price as the exposure is calculated on the basis of market price If the banks need to go for selling off their excess exposure this will create unnecessary selling pressure on the market said the BMBA The association requested the finance minister to consider their proposal to facilitate the growth of the capital market by its own strength and prospect Source httptodaythefinancialexpresscombdstock-corporatebmba-urges-muhith-to-exempt-investments-by-mf-sponsors-1510411950

Daily News Flash 12th November 2017

26

ATIUR STRESSES ROLE OF REGULATORS IN DIGITAL FINANCIAL INCLUSION Former Bangladesh Bank Governor Dr Atiur Rahman chairs a session at the 5th Biennial Competition Regulation and Development Conference at Jaipur in India on Thursday Success of digital financial inclusion depends on the prudent role of the regulating bodies to a great extent And the recent progress in Bangladesh in this regard is a good example for the rest of the world to follow said Dr Atiur Rahman former governor of Bangladesh Bank says a statement He was chairing a session at the 5th Biennial Competition Regulation and Development Conference at Jaipur India on Thursday The three-day conference is being hosted by CUTS International and OECD Speakers of the session included Ravinder S Aurora Senior Vice President of Mastercard David Ongolo Kenyan Competition Authority and Dr A K EnamulHaque Professor of East West University Dhaka Many developing countries survived and even thrived during the last global financial crisis because they chose to follow a broad-based financial inclusion strategy And digital solutions played a crucial role in this financial inclusion drive said Dr Rahman He added that service providers must focus on reaching out to the customers in the rural socio-economic conditions Dr Rahman said that experience from Bangladesh can answer many of the burning questions regarding digital financial inclusion The central bank of the country has facilitated bank-led digitisation drive Be it Mobile Financial Service or be it Agent Banking the Bangladesh Bank has encouraged traditional players (ie the commercial banks) to lead the way And it has been proven to be very successful He also said that the world is witnessing only the beginning of the digital finance revolution Hence we must learn from all these experiments share our experiences and know-hows Only then we can work towards shaping global standards and practices Dr Rahman finally asked all central banks to be more proactive and collaborative with other stakeholders including non-traditional financial service providers to facilitate orderly development of digital financial inclusion so that consumers interests are better protected The grievance redressal mechanism developed in Bangladesh Bank with infusion of state of the art technology to gain trust of the customers in financial inclusion was also discussed widely in the session The panelists highly appreciated Bangladeshs regulatory move with public interest in mind using latest technology for replicable digital financial inclusion Source httptodaythefinancialexpresscombdtrade-marketatiur-stresses-role-of-regulators-in-digital-financial-inclusion-1510416319

FAO FEARS NEGATIVE BD FOOD OUTPUT GROWTH ON FLOODING Recent flooding has dampened the outlook for Bangladesh a likely third successive season of little or negative food production growth mainly rice reports UNB quoting FAO Barring major setbacks production recoveries could instead permit Bangladesh and Sri Lanka to slightly lower their 2018 imports to 11 million and 450 000 tonnes respectively according to the latest Food Outlook published by the UN Food and Agriculture Organisation (FAO) Among other rice importers Bangladesh Iraq Nigeria and the Philippines are all similarly predicted to replenish their inventories according to the report a copy of which obtained by the news agency These gains are however likely to be offset by stock reductions in the Republic of Korea Madagascar Sri Lanka and the United Republic of Tanzania all linked to output shortfalls Although the use of rice as animal feed is being sustained by the release of supplies from government granaries in Japan the Republic of Korea and Thailand more affordable feedstuffs are expected to displace rice in most other countries especially in Bangladesh China (Mainland) and Vietnam

Daily News Flash 12th November 2017

27

Since the previous Food Outlook report a series of unfavourable climate-related events have affected main paddy crops in the Northern Hemisphere which have now reached the harvesting stage This has been the case in Asia where unlike 2016 the critical Northern Hemisphere summer months were characterised by mixed growing conditions that inhibited planting expansions As a result FAOs latest forecast of world rice production in 2017 points to a broadly stable output level of 5008 million tonnes Production in Asia is now forecast to fall 550 000 tonnes below the 2016 bumper harvest to 4525 million tonnes The UN agriculture agency has said the cost of importing food is rising in 2017 driven by increased international demand for most food stuffs as well as higher freight charges The cost of importing food is forecast to rise six per cent in 2017 to $1413 trillion making it the second highest bill on record while food commodity prices have been generally stable according to the latest Food Outlook that expressed concern about the economic and social impact of this trend on poor countries Although weather disruptions are set to stall production growth this season global rice supplies are still forecast to exceed utilisation enabling a small expansion of world rice inventories Global trade is expected to rise only modestly in 2018 after staging an 8 per cent recovery in 2017 The food import bills are set to increase by double-digit rates for least-developed countries (LDCs) and low-income food-deficit countries Aromatic rice varieties have risen eight times faster than the FAO All Rice Index which is up four per cent on the year However the higher import costs come at a time when inventories are robust harvest forecasts are strong and food commodity markets remain well supplied The export of tropical fruits is promising for poverty relief and rural development as almost all production takes place in developing countries The export volumes of mango pineapple avocado and papayas are on course to achieve a total combined value of $10 billion this year according to the Food Outlook Source httptodaythefinancialexpresscombdfirst-pagefao-fears-negative-bd-food-output-growth-on-flooding-1510336161date=11-11-2017

STOCKS NUDGE HIGHER AS BANK TELECOM ISSUES SURGE Stocks extended the winning streak for the two consecutive weeks that ended Thursday as enthusiastic investors continued their buying appetite on bank and telecommunication issues Market operators said the positive momentum in some large-cap issues especially from banking telecom pharmaceuticals and food amp allied sectors helped the bourse to stay upbeat The banking sector posted the highest return of 445 per cent as 27 out of 30 listed banks ticked higher Four banks gained more than 10 per cent each The telecom sector also surged 342 per cent as Grameenphone the countrys largest market-cap listed companys shares price jumped 40 per cent to close at Tk 45690 each The market extended the winning streak riding on heavyweight bank and telecom issues said an analyst at a leading brokerage firm The week featured five trading sessions as usual Of them first session saw marginal correction while last four closed higher Week-on-week DSEX the prime index of the Dhaka Stock Exchange (DSE) jacked up by 9454 points or 155 per cent to finish at 6193 The two other indices -- the DS30 index and the DSE Shariah Index (DSES) - also closed higher at 2244 and 1341 points

Daily News Flash 12th November 2017

28

Both the indices added 4264 points and 1218 points respectively During the week banking pharmaceuticals and telecommunication sector stocks contributed more to keep the market up commented City Bank Capital Resources a merchant bank in its weekly analysis The port city bourse Chittagong Stock Exchange (CSE) also ended higher The CSCX advanced 180 points or 156 per cent to finish at 11618 International Leasing Securities a stockbroker noted that the market observed an upbeat vibe throughout the week riding on the news of soaring of net foreign investment in the capital market in the first 10 months of 2017 compared to the same period of last year Net position of foreign portfolio with the DSE stood at Tk 1623 billion in January-October compared to Tk 80 billion in the same period a year ago However some investors were reshuffling their portfolios after observing the year-end corporate declarations and first quarter earning disclosures the stockbroker added According to EBL Securities The market witnessed an upbeat tune throughout the week riding on regained confidence among the market participants The stockbroker noted that preferable year-end and quarter-end earnings declarations by several companies helped them to remain positive about market The total turnover for the week amounted to Tk 3591 billion on the DSE which was Tk 3027 billion in the week before The daily turnover averaged Tk 718 billion which was nearly 19 per cent higher than the previous weeks average of Tk 605 billion Block trade accounted for 16 per cent of the total weekly turnover where stocks like BATBC Beximco Pharma Shahjalal Islami Bank Square Pharma and Singer Bangladesh dominated the block trade board Banking sector kept its dominance over the turnover chart grabbing 35 per cent of the weeks total transaction followed by engineering with 18 per cent and pharmaceuticals 11 per cent Out of 336 issues traded 207 closed lower 116 ended higher and 13 issues remained unchanged on the DSE trading floor during the week The market capitalisation of the DSE rose 137 per cent as it was Tk 4123 billion on the opening day of the week and it stood at Tk 4179 billion on closing day of the week City Bank topped the weeks turnover chart with 5390 million shares worth Tk 184 billion changing hands followed by IFAD Autos with Tk 121 billion Brac Bank Tk 10 billion LankaBangla Finance Tk 994 million and Dhaka Bank Tk 926 million Reckitt Benckiser was the weeks best performer posting a gain of 1925 per cent while Stylecraft was the weeks worst loser slumping by 3322 per cent A new issue - Oimex Electrode-- made debut last week and soared 1042 per cent from its offer price of Tk 10 in the first trading day on Monday Source httptodaythefinancialexpresscombdstock-corporatestocks-nudge-higher-as-bank-telecom-issues-surge-1510332934date=11-11-2017

BANGLADESH GROWING AS DENIM HUB The growing global demand for fashionable denim wear encouraged both local and foreign entrepreneurs to make fresh investment in Bangladesh participants and organisers of Bangladesh Denim Expo have said Many of the 30 local denim mills are going for expansion while a couple more will come into operation with fresh investment within next two or three years they said Some foreign companies are opening offices or setting up factories in Bangladesh they added The seventh edition of the two-day Bangladesh Denim Expo was held in the city recently with the theme transparency to highlight the need for transparency in the entire denim supply chain

Daily News Flash 12th November 2017

29

A total of 65 exhibitors from 12 countries participated in the show while more than 12 thousand visitors from across the world registered online to attend the two-day expo organisers said Talking to the FE on the sidelines of the expo Md Khalid Mosharof assistant general manager at Dekko Group said the group invested Tk 15 million in setting up a new factory of 44 lines at Ashulia that would go for denim item production in June next The main reason is to tap the growing global demand he said Echoing him Syeed Ahmed Chowdhury general manager operation at Square Denim said the company expanded its denim fabric production capacity to 30 million yards from the existing 15 million yards per month mainly to meet the demand He however opined that the expansion is taking place more in garment segments than in fabric production There is no alternative to expansion to sustain the existing business and achieve the $50 billion garment export earnings target by 2021 Sharif Zahir managing director of Ananta Group said stressing the need for positive branding of the sector Meanwhile Landes a German denim accessories maker started production in its new factory at Savar from this month It invested US $05 million We opened the factory in Bangladesh as we think this is the hub for denim business and there is a lot of business prospects here Manfred Slowik chief operating officer of Landes told the FE at his stall at the expo By the end of next year the total workforce in our new plant will be 120 people as we are recruiting new people from existing 30 Mr Slowik said Landes has a target to produce 500 million pieces of leather patches used in denim trousers as accessories in a year at its Savar plant from where such accessories will be supplied to the whole Asian region Many big brands like HampM VF and Walmart are their customers he said Nezahat Boni senior account manager of Orta a Turkish denim maker said her company supplies 30 million metres of denim fabrics in Bangladesh in a year against only 800 meters in 2011 We opened an office in Bangladesh in 2011 as we cannot ignore the importance of this country as a denim hub she said Prosperity Textile a Chinese company opened its office in Dhaka last year said Md Mujibul Hoque the companys Bangladesh Sales Director The company has targeted sale of 100 million yards a year across the globe while it also targets 30-40 per cent of their sales in Bangladesh Bangladesh is now the top denim products supplier to the European Union overtaking China and third largest to the US after China and Mexico industry people said Bangladesh supplies denim products to major global buyers and retailers including levis G-Star Raw HampM Tesco Wrangler Hugo Boss Walmart and Gap Source httptodaythefinancialexpresscombdtrade-marketbangladesh-growing-as-denim-hub-1510332061date=11-11-2017

EXPORTS UP 70PC IN JULY-OCTOBER Countrys export earnings grew by 703 per cent to US$1150 billion during first four months of the current fiscal year (FY 2017-18) according to official data released Thursday The earnings were $1079 billion in the same period (July-October) last FY In October 2017 the exports grew by 642 per cent to $284 billion the Export Promotion Bureau (EPB) data showed The overall exports in the first four months slightly (074 per cent) fell short of the periods target In October however the exports were 628 per cent higher than the months strategic target Readymade garment shipments fetched $943 billion marking 699 per cent growth during the period as compared to $882 billion in the same period of last FY

Daily News Flash 12th November 2017

30

The woven items registered 385 per cent growth in earnings to $445 billion than that of $428 billion in the same period of FY 2016-17 The earnings from knitwear export during the period grew by 995 per cent to $498 billion from $453 billion in the corresponding period of last FY Jute and jute goods exports rose by 1646 per cent to $34501 million from $29626 million in the same period of FY17 The earnings from agriculture products grew by 2022 per cent during the period while home textiles by 2037 per cent The earnings from leather and leather products however fell marginally by 002 per cent to $42844 million during the period than that of $42851 million in the same period last FY The export earnings from frozen food and live fish grew by 1541 per cent to $22691 million from $19661 million of the corresponding period of last fiscal Mahmud Hasan Khan vice president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) said the exports in the first four months of the current fiscal year fell short of the expected growth mainly because of failure in maintaining the lead time and short supply of gas and electricity Terming the knitwears growth satisfactory he said woven items manufacturers have been struggling to cope with the new challenge as buyers were reducing the volume of orders due to failure in meeting the lead time Without efficient port and strong backward linkage industry especially for the woven sub-sector it will be difficult for the sub-sector to bounce back he feared He pointed out that maximum of the woven fabric requirements were being met through imports But it was taking too much time to clear the imported fabrics and additional charges as a result at the Chittagong seaport that was facing unbearable congestion The government should provide necessary policy support to the exporters to establish strong backward linkage industry for the woven sub-sector he added Source httptodaythefinancialexpresscombdfirst-pageexports-up-70pc-in-july-october-1510248870date=10-11-2017

GAS CRISIS HURTING OUTPUT IN INDUSTRIAL BELT Factories in the countrys Tongi-Gazipur industrial belt have been facing acute gas crisis over the past few months following diversion of gas to upstream power plants The crisis has deteriorated further this week albeit some improvements for a few days last week said local industrialists and businessmen According to them if the ongoing gas crisis persists they may be forced to shut down their factories Officials of the Titas Gas Transmission and Distribution Company Limited (TGTDCL) however blamed the Petrobangla for the gas crunch Sources concerned say the industrial belt of Tongi-Gazipur is suffering badly for about four to five months from low pressure of gas coupled with poor electricity voltage -- often resulting in huge volume of industrial wastages and reduction of production efficiency According to the industry insiders a factory in the industrial belt requires 04 PSI (production per square inch) as optimum gas pressure but the pressure at times comes down to as low as 01 PSI these days -- especially during the daytime Gas pressure in the area becomes normal around 10pm11pm and stays for not more than 08 hours until 6am7am an entrepreneur of the industrial belt informed Asked an official of Titas said they are at present getting nearly 250 million cubic meters (MCM) less in recent weeks against their current demand of 1800 MCM gas in Titas franchise The downstream Titas franchise area covers greater Dhaka region which includes Gazipur alongside some other adjoining districts and greater Mymensingh he said

Daily News Flash 12th November 2017

31

A Petrobangla source however cited gas supply on priority basis to a number of upstream projects including power plants as reason behind supply shortage When asked Managing Director of Akij Group Sk Bashir Uddin termed the situation really worrisome According to him two of Akij Group companies situated in the area -- Akij Printing amp Packages Limited and Dhaka Tobacco Industries -- jointly contributed nearly Tk 35 billion (3500 crore) to the national exchequer in the 2016-17 fiscal year But were very much worried about our industrial output this year as production disruption following the twin crises involving gas supply and power supply Both will eventually disrupt our retail business in every phase he quipped This often results in a high rate of industrial wastage and reduction of production efficiency he added Bangladesh Auto Re-rolling Steel Mills amp Association Chairman Manwar Hossain who is also Anwar Group Managing Director echoed the same concern Factories in the industrial belt are now operating at one-third of their capacity which may lead to labour unrest and default of huge sum of bank loans he said Such disruption of production he cautions may even cause sudden shutdown of factories According to him none of the victims in that case will be the wilful defaulters -- they will be the victims of circumstances The businessman who has a steel factory called Anwar Ispat Limited in the industrial belt called for immediate introduction of ECM (electronically controlled meters) to check unabated gas engineering in the area which he deems to be yet another reason for gas supply crunch Titas officials according to him are encouraging co-generation scheme to help address the severe gas crisis But he said co-generation will require stable and smooth gas supply Government should ensure at least 10-15 years of smooth gas supply to encourage co-generation as what he said any industrial investment requires 20 years of payback period TGTDCL Deputy Managing Director Engineer Abdul Wahab Talukdar who is also the Project Director of Sripur-Joydevpur Transmission Pipeline Project said We cannot do anything to address the crisis if there is a lack of adequate gas supply Mentioning that all factories in the industrial belt are like my babies he unequivocally said Titas is not at fault He also admitted that priority-based power plants gas supply being the reason behind the current spell of gas crunch We have already started introducing electronic volumetric corrector (EVC) to stop illegal gas use in the area he said Factories he added should go for co-generation scheme for protecting their own interest Co-generation means utilising and absorbing heat generated from gas generators which Mr Wahab said will save energy A section of the businessmen however called for stopping fertiliser production and distributing the same among people at a subsidised price after importing it to facilitate smooth supply of gas to other industries Even if the government stops fertiliser production and opts for importing it for distribution at a subsidised rate there will only be an insignificant loss compared to the overall losses now being incurred said an industrialist who has more than one factory in the industrial belt Local sources said illegal and unapproved gas connections in various industries in and around the zone are also affecting gas supply badly among other reasons Source httptodaythefinancialexpresscombdfirst-pagegas-crisis-hurting-output-in-industrial-belt-1510249018date=10-11-2017

Daily News Flash 12th November 2017

32

SINGLE PERSON MAY FORM COMPANY A single person may form a commercial firm under a provision of the companies law being updated along with some other major business-stimulating measures Official sources said the government is considering incorporating some new provisions including one allowing individuals to form any company into the updated Companies Act The other provisions are formation of an appellate tribunal to resolve legal matters without wasting much time widespread automation of companies work and submission of annual company reports online Earlier the Ministry of Commerce (MoC) had received some recommendations from the stakeholders on how to update the law they added We got most of the recommendations from the stakeholders We hope we will be able to prepare the draft Companies Act within a month Md Obaidul Azam director trade organisations (DTO) told the FE He said the recommendations the ministry had received so far were being scrutinised before preparing a draft for updating the companies act Earlier different trade bodies had sent their respective recommendations to the MoC for incorporation into the law The MoC will hold a meeting with the countrys apex trade body after assessing the recommendations and suggestions the ministry official said Talking to the FE a leader of an influential trade body said they had sent some recommendationssuggestions to the MoC for the new Companies Act for betterment of the countrys trade and business According to Section 2 (1) (c) of the Companies Act 1994 Company means a company formed and registered under this Act or an existing company Thus a company is an association of persons formed under the Companies Act 1994 with a view to achieving some common objectives Though a company is regarded a legal person it possesses similar rights and owes similar obligations like a natural person Now any individual fulfilling the new criteria may be allowed to form a firm Source httptodaythefinancialexpresscombdfirst-pagesingle-person-may-form-company-1510249090date=10-11-2017

DSE TURNOVER CROSSES TK 80 BILLION MARK The daily turnover on Dhaka Stock Exchange (DSE) exceeded the Tk 80 billion mark on Thursday as investors took fresh exposure to the banking sector Turnover a crucial indicator of the market reached Tk 870 billion on the countrys premier bourse jumping 14 per cent from the previous days transaction of Tk 765 billion It was the biggest single-day transaction since October 11 when the turnover totalled a record Tk 1092 billion Along with rising turnover DSEX the prime index of the Dhaka bourse continued to keep its gaining momentum closing 3449 points higher at 6193 points DSEX which replaced the DGEN in nearly five years back added more than 121 points or 20 per cent in the past four consecutive sessions The two other indices -- the DS30 index and the DSE Shariah Index (DSES) -- also followed suit to end at 2244 and 1341 points after gaining 1422 points and 443 points respectively Brokers said the market maintained the bullish trend for the four straight sessions as the enthusiastic investors chased the banking sector stocks The market continued the bullish trend for the four consecutive sessions as the enthusiastic investors were active for the banking food and engineering sector stocks commented EBL Securities a stockbroker in its regular market analysis

Daily News Flash 12th November 2017

33

It noted that the core index remained positive throughout the session as optimistic investors kept buying sector-wise stocks while some rebalanced their portfolios Meanwhile share price of newly listed Oimex Electrode continued to decline for the three consecutive sessions after unusual hike during its debut trading on Monday The companys share price fell 763 per cent to close at Tk 9810 on Thursday after jumping more than tenfold during the debut trading which experts termed unusual Block trade contributed Tk 241 million to the days total turnover with stocks like BATBC Square Pharmaceuticals Singer Bangladesh and Beximco Pharma dominating the block trade board Among the major sectors pharmaceuticals posted the highest gain of 122 per cent followed by banking sector (083 per cent) food amp allied (067 per cent) engineering (033 per cent) financial institutions (003 per cent) and power (003 per cent) Only telecommunication sector faced a 045 per cent correction A total number of 0140 million trades were executed in the days trading session with trading volume totalling 23171 million securities The total market capitalisation of the DSE stood at Tk 4179 billion against Tk 4168 billion in the previous session Losers however took a modest lead over the gainers as out of 325 issues traded 140 closed lower 130 closed higher and 55 remained unchanged on the DSE trading floor City Bank dominated the turnover chart for the second day in a row with 1035 million shares changing hands closely followed by Dhaka Bank LankaBangla Finance Brac Bank and Keya Cosmetics Reckitt Benckiser was also the days best performer posting a gain of 624 per cent while Qasem Drycells was the days biggest loser shedding 1235 per cent The port city bourse Chittagong Stock Exchange (CSE) also ended higher with its Selective Categories Index -- CSCX --gaining more than 62 points to close at 11618 Losers beat gainers as 113 issues closed lower 97 closed higher and 37 remained unchanged on the CSE The port city bourse traded 1604 million shares and mutual fund units generating a turnover of Tk 483 million Source httptodaythefinancialexpresscombdstock-corporatedse-turnover-crosses-tk-80-billion-mark-1510245247date=10-11-2017

TEN COS GRAB 32PC TURNOVER ON DSE The banking sector continued to dominate the transaction chart of the Dhaka Stock Exchange (DSE) accounting for 39 per cent of the total turnover on Thursday Four banks made their way to the top 10 turnover chart with City Bank leading the chart for the second day in a row Brokers said the investors chased the banking sector issues as more than 63 per cent of listed banks showed positive earnings in the third quarter (July-September period) Meanwhile top 10 traded companies including four banks grabbed more than 32 per cent of turnover on the Dhaka bourse The total turnover on the premier bourse reached Tk 870 billion up 14 per cent from the previous days Tk 765 billion The most active shares in terms of value included City Bank Dhaka Bank LankaBangla Finance Brac Bank Keya Cosmetics Square Pharmaceuticals Beximco Pharmaceuticals IFAD Autos Exim Bank and IDLC Finance According to statistics available with the DSE about 1035 million shares of City Bank were traded generating a turnover of Tk 553 million or 635 per cent of the total transactions

Daily News Flash 12th November 2017

34

The companys share price hovered between Tk 5240 and Tk 5440 before closing at Tk 5390 advancing 228 per cent over the previous session Dhaka Bank came in next with shares of Tk 395 million changing hands contributing 454 per cent to the total turnover The banks share price closed 347 per cent higher at Tk 2380 LankaBangla notched the third spot with shares of Tk 266 million changing hands making up 305 per cent of the total turnover Its share price ended 063 per cent higher at Tk 6430 Brac Bank emerged the fourth with shares of Tk 257 million changing hands grabbing 295 per cent of the total turnover The banks share price settled 123 per cent higher at Tk 107 Keya Cosmetics featured a turnover of Tk 247 million or 284 per cent of the total turnover Its share price closed 201 per cent higher at Tk 1520 The turnover of Square Pharma was Tk 241 million or 276 per cent of the total transaction Its share price ended 612 per cent down at Tk 27890 Beximco Pharma featured a turnover of Tk 211 million or 242 per cent of the total turnover Its share price advanced 428 per cent to close at Tk 10960 The turnover of IFAD was Tk 208 million accounting for 238 per cent of the total turnover Its share price closed at Tk 14070 gaining 195 per cent Exim Bank featured a turnover of Tk 196 million or 225 per cent of the total transaction The banks share price inched up 055 per cent to close at Tk 1830 IDLC also made its way to the top ten turnover chart with shares of Tk 188 million changing hands Its share price closed 223 per cent higher at Tk 9150 Source httptodaythefinancialexpresscombdstock-corporateten-cos-grab-32pc-turnover-on-dse-1510245290date=10-11-2017

FOREIGN INVESTMENT HIKE INFO DRIVES MODERATE GAINS ON DSE The Dhaka bourse Thursday closed the session posting a moderate rise in the broad index and turnover amid mixed performance displayed by major sectors On the day most of the major sectors declined but the turnover crossed Tk 80 billion-mark after two sessions on Dhaka Stock Exchange (DSE) mainly because of investors increased participation in the banking sector According to a market review of International Leasing Securities positive momentum in some big-cap stocks especially from bank food and engineering sectors helped the bourse to close in green The market started the session with a positive note and the DSE broad index DSEX witnessed little ups and downs before closing higher According to AT Capital Partners the market remained sideways till the midsession The DSEX rose again in the second half of the session and closed at 61936 up by 345 points The shariah based index DSES and blue chip index DS30 also rose marginally The turnover stood at above Tk 870 billion which was 1370 per cent higher than the turnover of the previous session The confident drive was initiated by the investors buying spree riding on the news of doubling net foreign investment in stocks year-on-year in the first ten months of 2017 said the International Leasing SecuritiesAmong the gaining sectors bank advanced 08 per cent and engineering 03 per cent Of the losing sectors pharmaceuticals amp chemicals declined 11 per cent telecommunication 05 per cent and textiles 09 per cent The banking sector grabbed 384 per cent of the market turnover at the premier bourse DSECity Bank topped the turnover chart with a value of Tk 553 million followed by Dhaka Bank LankaBangla Finance BRAC Bank and Keya CosmeticsReckitt Benckiser (Bd) limited topped the gainers chart with a rise of 624 per cent to close at Tk 18456 while Quasem Drycells was the worst loser after declining 1235 per cent to close at Tk 8230 Source httptodaythefinancialexpresscombdstock-corporateforeign-investment-hike-info-drives-moderate-gains-on-dse-1510245365date=10-11-2017

Daily News Flash 12th November 2017

35

MORE JAPANESE COMPANIES SEEK TO INVEST IN BANGLADESH Japanese Ambassador to Bangladesh Hiroyasu Izumi has said the Japanese investors are keen to invest in Bangladesh considering the lucrative offer and ideal atmosphere for foreign investment reports BSS The Japanese investors expressed more interest to invest in Bangladesh at recently-held the third round of Public-Private Economic Dialogue between Bangladesh and Japan he said while visiting the Chittagong Export Processing Zone (CEPZ) on Thursday The envoy expressed the hopes that Japanese investment in the Export Processing Zones (EPZs) will increase after the successful dialogue said a press release More and more Japanese companies will come to invest in this country he added General Manager of CEPZ Khorshid Alam maed a PowerPoint presentation highlighting the overall scenario of EPZ as well as Bangladesh Export Processing Zone Authority (BEPZA) Mentioning Bangladesh EPZs as the Bonanza for Investors he said investors from 38 countries have set up industries in the EPZs and invested US $442 billion He informed the ambassador that BEPZA has ensured three layer security system including 24-hour CCTV surveillance in the key points of EPZ and factory premises for the safety of the investors Source httptodaythefinancialexpresscombdtrade-marketmore-japanese-companies-seek-to-invest-in-bangladesh-1510250285date=10-11-2017

Source httpwwwarthosuchakcomarchives388209

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Daily News Flash 12th November 2017

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Daily News Flash 12th November 2017

38

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39

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Source httpwwwprothom-alocomeconomyarticle1362971

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40

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Daily News Flash 12th November 2017

41

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564388

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Daily News Flash 12th November 2017

42

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Daily News Flash 12th November 2017

43

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Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111810 - - - - -

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২০১৬ mdash ২ ১ ঋ

১০ ও ২০১৩

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১২ ৩৫ ৩০ ২০১৬ ৭ ৩৭ ৮০

Daily News Flash 12th November 2017

44

২০১৪ ২০১৬

৩২ ৩৫ ও ৫০ ১৯

৫৬

১৭ ৪৬ ২০১৪ ২০১৬

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ও ও

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ও ২০২১ ও ও

৫ ১ ১৬

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Source httpbonikbartanetbanglanews2017-11-12137992 - - -- -

৫০০ ৫০০ ও

ও ৩০ ২০১৭

৫০০ ও ঋ ২০১৮

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১ ২০ ও ১৫০

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Daily News Flash 12th November 2017

45

৩০০ ৬০০

( ) ও

১ ২৫ ও ১০

১০ ও

ঋ ও

৩০ ২০১৭ ৩ ও ১২ ও

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ও ৩০ ১১

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( - ) ৬৬ ৫৫ ৩০

( ) ৩৪ ৯০

ও ও ও

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ও ও ২০১৫ ৩০ ১০ ২০১৬

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( ) ৪১ ২০ ও ২৩ ৬০

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২০১৪ ৩০০ ও ১৪৮ ৪৬ ৫০

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১২ ৪৫ ৫০ ২৪

ও ( ) ১৬ ৫৩

ও ১৫ ২২

Source httpbonikbartanetbanglanews2017-11-12137966৫০০- - - - -ও -

৬৩

- ও ও

৬২ ৯৪ ৫

৬২

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২০১৬-১৭ ৫ ৬২ ও ২০১৩-১৪

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( ) ৯০

-

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Daily News Flash 12th November 2017

46

- ও

৬২ ৯৪

২০১৩-১৪ ৭০ ৭৮ ২০১৪-১৫ ৫৪ ২২

২০১৫-১৬ ৩৯ ৩৩ ও ২৬ ২৩

ও ২০১৩-১৪

১২ ৩৬ ২০১৪-১৫ ৫ ৯১ ও ২০১৫-

১৬ ১৭ ৩০ ৫ ৬২

৩০ ২০১৭ ১০

২ ৮৬ ও ৩

ও ২৪ ( )

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৫ - ৫১ ১৫ ৬০ ও

৩২ ৯০

Source httpbonikbartanetbanglanews2017-11-11137853 - - - - - -৬৩---

( ) ও

১০

ও ও ও

-

ও ও

ও ঋ ও

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Daily News Flash 12th November 2017

47

২০১৪

২০১৪-১৬ ও

২০১৪

ও ২০১৪

২০১৫ ২৭ lsquo ও rsquo

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ঋ ( ) ৫৬০

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ও ১৫ ২৫ ৩০ ও ৩০

ও ঋ ও

২০১৬ ঋ ১

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ঋ ২ ৪৪৩ ঋ ১০

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ও ২০১৬ ৭৪১

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২০৭ ২৪৪

১০ ও

ও ও ও ও ও

Daily News Flash 12th November 2017

48

Source httpbonikbartanetbanglanews2017-11-12137998 - - - - - ও- -

( )

৩০ ২০১৭ ২০

( ) ২ ১ ১ ৫৯ (

) ৩০ ( ) ১৫ ৩৭

ও ২৮ ১১

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২০১৪ ও ২০

১৫ ৩০

১৮ ৮০ ও ৯ ৬০

Source httpbonikbartanetbanglanews2017-11-11137850 - - - -

ফ ৭ ২০১৭-১৮ ৭ ৩ ৭৪

( ) ও

( - ) ১ ১৫০ ৫৮

(২০১৬-১৭) ১ ৭৫ ৩ ৬০ ৭

৩ ১ ১৫৯ ২০ ৭৪

ও mdash

৬ ৬৫ ১৭ ৬৩

mdash ও ও

১৫ ৪১ ২২ ৬৯ ১০

১৯ ৬৬ ১০ ২০ ২২

mdash ও ও ও

৩৯ ৫১ ও ২ ও

১৬ ৪৬ ও ও ৬ ৯৯ ও

৩ ৮৫ ৯ ৯৫

১৯ ৮২

৮০

ও ( )

mdash

Daily News Flash 12th November 2017

49

ও ও

Source httpbonikbartanetbanglanews2017-11-10137755 - - - -৭- - --

ফ - ফ ও -ও

-ও

-ও

২৯-১০-২০১১ ৩ ( ) ২৮-১০-২০১৪

৩ ( ) ২৮-১১-২০১৬

২৮-১০-২০১৭ ৩ ( )

২০১৬-১৫৮১৩৪ ৪৪ ০৭-০৮-

২০১২ ১২(৬) ২ ( ) ৬ ( )

-ও - ও ২ ( )

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২ ২২-০৫-২০১২ -ও ৩

- -

১৯৯৪

-ও

- ও

( )

১৯৯৪

১৯৯৪ -ও

Source httpwwwsharenews24comindexphppage=detailsampnc=1ampnews_id=6587

Daily News Flash 12th November 2017

50

ফ ফ

১৫ ও

-( ) ও

৪৯

১৬ ৮৫

৫১ ৪৯

৪ ৩৬

১৯১৩

১০০ ও ১৯০১ ১৯৬০

Source httpswwwdailystockbangladeshcom - - - -

- ( -১)

( ) ৮

৩০০ ও

( ) ১৬

- ২২৮ ৪৯ ১৮৩ ২০১৮

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( ) ও ৪০ ৩০

ও ও

ও ও

Source httpswwwdailystockbangladeshcom - - -

Page 26: Daily News Flash, 12th November, 2017 -  · PDF filebanglalink's revenue falls 4.57pc in q3 ... banks lack remedial strategy while npl rises worryingly

Daily News Flash 12th November 2017

26

ATIUR STRESSES ROLE OF REGULATORS IN DIGITAL FINANCIAL INCLUSION Former Bangladesh Bank Governor Dr Atiur Rahman chairs a session at the 5th Biennial Competition Regulation and Development Conference at Jaipur in India on Thursday Success of digital financial inclusion depends on the prudent role of the regulating bodies to a great extent And the recent progress in Bangladesh in this regard is a good example for the rest of the world to follow said Dr Atiur Rahman former governor of Bangladesh Bank says a statement He was chairing a session at the 5th Biennial Competition Regulation and Development Conference at Jaipur India on Thursday The three-day conference is being hosted by CUTS International and OECD Speakers of the session included Ravinder S Aurora Senior Vice President of Mastercard David Ongolo Kenyan Competition Authority and Dr A K EnamulHaque Professor of East West University Dhaka Many developing countries survived and even thrived during the last global financial crisis because they chose to follow a broad-based financial inclusion strategy And digital solutions played a crucial role in this financial inclusion drive said Dr Rahman He added that service providers must focus on reaching out to the customers in the rural socio-economic conditions Dr Rahman said that experience from Bangladesh can answer many of the burning questions regarding digital financial inclusion The central bank of the country has facilitated bank-led digitisation drive Be it Mobile Financial Service or be it Agent Banking the Bangladesh Bank has encouraged traditional players (ie the commercial banks) to lead the way And it has been proven to be very successful He also said that the world is witnessing only the beginning of the digital finance revolution Hence we must learn from all these experiments share our experiences and know-hows Only then we can work towards shaping global standards and practices Dr Rahman finally asked all central banks to be more proactive and collaborative with other stakeholders including non-traditional financial service providers to facilitate orderly development of digital financial inclusion so that consumers interests are better protected The grievance redressal mechanism developed in Bangladesh Bank with infusion of state of the art technology to gain trust of the customers in financial inclusion was also discussed widely in the session The panelists highly appreciated Bangladeshs regulatory move with public interest in mind using latest technology for replicable digital financial inclusion Source httptodaythefinancialexpresscombdtrade-marketatiur-stresses-role-of-regulators-in-digital-financial-inclusion-1510416319

FAO FEARS NEGATIVE BD FOOD OUTPUT GROWTH ON FLOODING Recent flooding has dampened the outlook for Bangladesh a likely third successive season of little or negative food production growth mainly rice reports UNB quoting FAO Barring major setbacks production recoveries could instead permit Bangladesh and Sri Lanka to slightly lower their 2018 imports to 11 million and 450 000 tonnes respectively according to the latest Food Outlook published by the UN Food and Agriculture Organisation (FAO) Among other rice importers Bangladesh Iraq Nigeria and the Philippines are all similarly predicted to replenish their inventories according to the report a copy of which obtained by the news agency These gains are however likely to be offset by stock reductions in the Republic of Korea Madagascar Sri Lanka and the United Republic of Tanzania all linked to output shortfalls Although the use of rice as animal feed is being sustained by the release of supplies from government granaries in Japan the Republic of Korea and Thailand more affordable feedstuffs are expected to displace rice in most other countries especially in Bangladesh China (Mainland) and Vietnam

Daily News Flash 12th November 2017

27

Since the previous Food Outlook report a series of unfavourable climate-related events have affected main paddy crops in the Northern Hemisphere which have now reached the harvesting stage This has been the case in Asia where unlike 2016 the critical Northern Hemisphere summer months were characterised by mixed growing conditions that inhibited planting expansions As a result FAOs latest forecast of world rice production in 2017 points to a broadly stable output level of 5008 million tonnes Production in Asia is now forecast to fall 550 000 tonnes below the 2016 bumper harvest to 4525 million tonnes The UN agriculture agency has said the cost of importing food is rising in 2017 driven by increased international demand for most food stuffs as well as higher freight charges The cost of importing food is forecast to rise six per cent in 2017 to $1413 trillion making it the second highest bill on record while food commodity prices have been generally stable according to the latest Food Outlook that expressed concern about the economic and social impact of this trend on poor countries Although weather disruptions are set to stall production growth this season global rice supplies are still forecast to exceed utilisation enabling a small expansion of world rice inventories Global trade is expected to rise only modestly in 2018 after staging an 8 per cent recovery in 2017 The food import bills are set to increase by double-digit rates for least-developed countries (LDCs) and low-income food-deficit countries Aromatic rice varieties have risen eight times faster than the FAO All Rice Index which is up four per cent on the year However the higher import costs come at a time when inventories are robust harvest forecasts are strong and food commodity markets remain well supplied The export of tropical fruits is promising for poverty relief and rural development as almost all production takes place in developing countries The export volumes of mango pineapple avocado and papayas are on course to achieve a total combined value of $10 billion this year according to the Food Outlook Source httptodaythefinancialexpresscombdfirst-pagefao-fears-negative-bd-food-output-growth-on-flooding-1510336161date=11-11-2017

STOCKS NUDGE HIGHER AS BANK TELECOM ISSUES SURGE Stocks extended the winning streak for the two consecutive weeks that ended Thursday as enthusiastic investors continued their buying appetite on bank and telecommunication issues Market operators said the positive momentum in some large-cap issues especially from banking telecom pharmaceuticals and food amp allied sectors helped the bourse to stay upbeat The banking sector posted the highest return of 445 per cent as 27 out of 30 listed banks ticked higher Four banks gained more than 10 per cent each The telecom sector also surged 342 per cent as Grameenphone the countrys largest market-cap listed companys shares price jumped 40 per cent to close at Tk 45690 each The market extended the winning streak riding on heavyweight bank and telecom issues said an analyst at a leading brokerage firm The week featured five trading sessions as usual Of them first session saw marginal correction while last four closed higher Week-on-week DSEX the prime index of the Dhaka Stock Exchange (DSE) jacked up by 9454 points or 155 per cent to finish at 6193 The two other indices -- the DS30 index and the DSE Shariah Index (DSES) - also closed higher at 2244 and 1341 points

Daily News Flash 12th November 2017

28

Both the indices added 4264 points and 1218 points respectively During the week banking pharmaceuticals and telecommunication sector stocks contributed more to keep the market up commented City Bank Capital Resources a merchant bank in its weekly analysis The port city bourse Chittagong Stock Exchange (CSE) also ended higher The CSCX advanced 180 points or 156 per cent to finish at 11618 International Leasing Securities a stockbroker noted that the market observed an upbeat vibe throughout the week riding on the news of soaring of net foreign investment in the capital market in the first 10 months of 2017 compared to the same period of last year Net position of foreign portfolio with the DSE stood at Tk 1623 billion in January-October compared to Tk 80 billion in the same period a year ago However some investors were reshuffling their portfolios after observing the year-end corporate declarations and first quarter earning disclosures the stockbroker added According to EBL Securities The market witnessed an upbeat tune throughout the week riding on regained confidence among the market participants The stockbroker noted that preferable year-end and quarter-end earnings declarations by several companies helped them to remain positive about market The total turnover for the week amounted to Tk 3591 billion on the DSE which was Tk 3027 billion in the week before The daily turnover averaged Tk 718 billion which was nearly 19 per cent higher than the previous weeks average of Tk 605 billion Block trade accounted for 16 per cent of the total weekly turnover where stocks like BATBC Beximco Pharma Shahjalal Islami Bank Square Pharma and Singer Bangladesh dominated the block trade board Banking sector kept its dominance over the turnover chart grabbing 35 per cent of the weeks total transaction followed by engineering with 18 per cent and pharmaceuticals 11 per cent Out of 336 issues traded 207 closed lower 116 ended higher and 13 issues remained unchanged on the DSE trading floor during the week The market capitalisation of the DSE rose 137 per cent as it was Tk 4123 billion on the opening day of the week and it stood at Tk 4179 billion on closing day of the week City Bank topped the weeks turnover chart with 5390 million shares worth Tk 184 billion changing hands followed by IFAD Autos with Tk 121 billion Brac Bank Tk 10 billion LankaBangla Finance Tk 994 million and Dhaka Bank Tk 926 million Reckitt Benckiser was the weeks best performer posting a gain of 1925 per cent while Stylecraft was the weeks worst loser slumping by 3322 per cent A new issue - Oimex Electrode-- made debut last week and soared 1042 per cent from its offer price of Tk 10 in the first trading day on Monday Source httptodaythefinancialexpresscombdstock-corporatestocks-nudge-higher-as-bank-telecom-issues-surge-1510332934date=11-11-2017

BANGLADESH GROWING AS DENIM HUB The growing global demand for fashionable denim wear encouraged both local and foreign entrepreneurs to make fresh investment in Bangladesh participants and organisers of Bangladesh Denim Expo have said Many of the 30 local denim mills are going for expansion while a couple more will come into operation with fresh investment within next two or three years they said Some foreign companies are opening offices or setting up factories in Bangladesh they added The seventh edition of the two-day Bangladesh Denim Expo was held in the city recently with the theme transparency to highlight the need for transparency in the entire denim supply chain

Daily News Flash 12th November 2017

29

A total of 65 exhibitors from 12 countries participated in the show while more than 12 thousand visitors from across the world registered online to attend the two-day expo organisers said Talking to the FE on the sidelines of the expo Md Khalid Mosharof assistant general manager at Dekko Group said the group invested Tk 15 million in setting up a new factory of 44 lines at Ashulia that would go for denim item production in June next The main reason is to tap the growing global demand he said Echoing him Syeed Ahmed Chowdhury general manager operation at Square Denim said the company expanded its denim fabric production capacity to 30 million yards from the existing 15 million yards per month mainly to meet the demand He however opined that the expansion is taking place more in garment segments than in fabric production There is no alternative to expansion to sustain the existing business and achieve the $50 billion garment export earnings target by 2021 Sharif Zahir managing director of Ananta Group said stressing the need for positive branding of the sector Meanwhile Landes a German denim accessories maker started production in its new factory at Savar from this month It invested US $05 million We opened the factory in Bangladesh as we think this is the hub for denim business and there is a lot of business prospects here Manfred Slowik chief operating officer of Landes told the FE at his stall at the expo By the end of next year the total workforce in our new plant will be 120 people as we are recruiting new people from existing 30 Mr Slowik said Landes has a target to produce 500 million pieces of leather patches used in denim trousers as accessories in a year at its Savar plant from where such accessories will be supplied to the whole Asian region Many big brands like HampM VF and Walmart are their customers he said Nezahat Boni senior account manager of Orta a Turkish denim maker said her company supplies 30 million metres of denim fabrics in Bangladesh in a year against only 800 meters in 2011 We opened an office in Bangladesh in 2011 as we cannot ignore the importance of this country as a denim hub she said Prosperity Textile a Chinese company opened its office in Dhaka last year said Md Mujibul Hoque the companys Bangladesh Sales Director The company has targeted sale of 100 million yards a year across the globe while it also targets 30-40 per cent of their sales in Bangladesh Bangladesh is now the top denim products supplier to the European Union overtaking China and third largest to the US after China and Mexico industry people said Bangladesh supplies denim products to major global buyers and retailers including levis G-Star Raw HampM Tesco Wrangler Hugo Boss Walmart and Gap Source httptodaythefinancialexpresscombdtrade-marketbangladesh-growing-as-denim-hub-1510332061date=11-11-2017

EXPORTS UP 70PC IN JULY-OCTOBER Countrys export earnings grew by 703 per cent to US$1150 billion during first four months of the current fiscal year (FY 2017-18) according to official data released Thursday The earnings were $1079 billion in the same period (July-October) last FY In October 2017 the exports grew by 642 per cent to $284 billion the Export Promotion Bureau (EPB) data showed The overall exports in the first four months slightly (074 per cent) fell short of the periods target In October however the exports were 628 per cent higher than the months strategic target Readymade garment shipments fetched $943 billion marking 699 per cent growth during the period as compared to $882 billion in the same period of last FY

Daily News Flash 12th November 2017

30

The woven items registered 385 per cent growth in earnings to $445 billion than that of $428 billion in the same period of FY 2016-17 The earnings from knitwear export during the period grew by 995 per cent to $498 billion from $453 billion in the corresponding period of last FY Jute and jute goods exports rose by 1646 per cent to $34501 million from $29626 million in the same period of FY17 The earnings from agriculture products grew by 2022 per cent during the period while home textiles by 2037 per cent The earnings from leather and leather products however fell marginally by 002 per cent to $42844 million during the period than that of $42851 million in the same period last FY The export earnings from frozen food and live fish grew by 1541 per cent to $22691 million from $19661 million of the corresponding period of last fiscal Mahmud Hasan Khan vice president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) said the exports in the first four months of the current fiscal year fell short of the expected growth mainly because of failure in maintaining the lead time and short supply of gas and electricity Terming the knitwears growth satisfactory he said woven items manufacturers have been struggling to cope with the new challenge as buyers were reducing the volume of orders due to failure in meeting the lead time Without efficient port and strong backward linkage industry especially for the woven sub-sector it will be difficult for the sub-sector to bounce back he feared He pointed out that maximum of the woven fabric requirements were being met through imports But it was taking too much time to clear the imported fabrics and additional charges as a result at the Chittagong seaport that was facing unbearable congestion The government should provide necessary policy support to the exporters to establish strong backward linkage industry for the woven sub-sector he added Source httptodaythefinancialexpresscombdfirst-pageexports-up-70pc-in-july-october-1510248870date=10-11-2017

GAS CRISIS HURTING OUTPUT IN INDUSTRIAL BELT Factories in the countrys Tongi-Gazipur industrial belt have been facing acute gas crisis over the past few months following diversion of gas to upstream power plants The crisis has deteriorated further this week albeit some improvements for a few days last week said local industrialists and businessmen According to them if the ongoing gas crisis persists they may be forced to shut down their factories Officials of the Titas Gas Transmission and Distribution Company Limited (TGTDCL) however blamed the Petrobangla for the gas crunch Sources concerned say the industrial belt of Tongi-Gazipur is suffering badly for about four to five months from low pressure of gas coupled with poor electricity voltage -- often resulting in huge volume of industrial wastages and reduction of production efficiency According to the industry insiders a factory in the industrial belt requires 04 PSI (production per square inch) as optimum gas pressure but the pressure at times comes down to as low as 01 PSI these days -- especially during the daytime Gas pressure in the area becomes normal around 10pm11pm and stays for not more than 08 hours until 6am7am an entrepreneur of the industrial belt informed Asked an official of Titas said they are at present getting nearly 250 million cubic meters (MCM) less in recent weeks against their current demand of 1800 MCM gas in Titas franchise The downstream Titas franchise area covers greater Dhaka region which includes Gazipur alongside some other adjoining districts and greater Mymensingh he said

Daily News Flash 12th November 2017

31

A Petrobangla source however cited gas supply on priority basis to a number of upstream projects including power plants as reason behind supply shortage When asked Managing Director of Akij Group Sk Bashir Uddin termed the situation really worrisome According to him two of Akij Group companies situated in the area -- Akij Printing amp Packages Limited and Dhaka Tobacco Industries -- jointly contributed nearly Tk 35 billion (3500 crore) to the national exchequer in the 2016-17 fiscal year But were very much worried about our industrial output this year as production disruption following the twin crises involving gas supply and power supply Both will eventually disrupt our retail business in every phase he quipped This often results in a high rate of industrial wastage and reduction of production efficiency he added Bangladesh Auto Re-rolling Steel Mills amp Association Chairman Manwar Hossain who is also Anwar Group Managing Director echoed the same concern Factories in the industrial belt are now operating at one-third of their capacity which may lead to labour unrest and default of huge sum of bank loans he said Such disruption of production he cautions may even cause sudden shutdown of factories According to him none of the victims in that case will be the wilful defaulters -- they will be the victims of circumstances The businessman who has a steel factory called Anwar Ispat Limited in the industrial belt called for immediate introduction of ECM (electronically controlled meters) to check unabated gas engineering in the area which he deems to be yet another reason for gas supply crunch Titas officials according to him are encouraging co-generation scheme to help address the severe gas crisis But he said co-generation will require stable and smooth gas supply Government should ensure at least 10-15 years of smooth gas supply to encourage co-generation as what he said any industrial investment requires 20 years of payback period TGTDCL Deputy Managing Director Engineer Abdul Wahab Talukdar who is also the Project Director of Sripur-Joydevpur Transmission Pipeline Project said We cannot do anything to address the crisis if there is a lack of adequate gas supply Mentioning that all factories in the industrial belt are like my babies he unequivocally said Titas is not at fault He also admitted that priority-based power plants gas supply being the reason behind the current spell of gas crunch We have already started introducing electronic volumetric corrector (EVC) to stop illegal gas use in the area he said Factories he added should go for co-generation scheme for protecting their own interest Co-generation means utilising and absorbing heat generated from gas generators which Mr Wahab said will save energy A section of the businessmen however called for stopping fertiliser production and distributing the same among people at a subsidised price after importing it to facilitate smooth supply of gas to other industries Even if the government stops fertiliser production and opts for importing it for distribution at a subsidised rate there will only be an insignificant loss compared to the overall losses now being incurred said an industrialist who has more than one factory in the industrial belt Local sources said illegal and unapproved gas connections in various industries in and around the zone are also affecting gas supply badly among other reasons Source httptodaythefinancialexpresscombdfirst-pagegas-crisis-hurting-output-in-industrial-belt-1510249018date=10-11-2017

Daily News Flash 12th November 2017

32

SINGLE PERSON MAY FORM COMPANY A single person may form a commercial firm under a provision of the companies law being updated along with some other major business-stimulating measures Official sources said the government is considering incorporating some new provisions including one allowing individuals to form any company into the updated Companies Act The other provisions are formation of an appellate tribunal to resolve legal matters without wasting much time widespread automation of companies work and submission of annual company reports online Earlier the Ministry of Commerce (MoC) had received some recommendations from the stakeholders on how to update the law they added We got most of the recommendations from the stakeholders We hope we will be able to prepare the draft Companies Act within a month Md Obaidul Azam director trade organisations (DTO) told the FE He said the recommendations the ministry had received so far were being scrutinised before preparing a draft for updating the companies act Earlier different trade bodies had sent their respective recommendations to the MoC for incorporation into the law The MoC will hold a meeting with the countrys apex trade body after assessing the recommendations and suggestions the ministry official said Talking to the FE a leader of an influential trade body said they had sent some recommendationssuggestions to the MoC for the new Companies Act for betterment of the countrys trade and business According to Section 2 (1) (c) of the Companies Act 1994 Company means a company formed and registered under this Act or an existing company Thus a company is an association of persons formed under the Companies Act 1994 with a view to achieving some common objectives Though a company is regarded a legal person it possesses similar rights and owes similar obligations like a natural person Now any individual fulfilling the new criteria may be allowed to form a firm Source httptodaythefinancialexpresscombdfirst-pagesingle-person-may-form-company-1510249090date=10-11-2017

DSE TURNOVER CROSSES TK 80 BILLION MARK The daily turnover on Dhaka Stock Exchange (DSE) exceeded the Tk 80 billion mark on Thursday as investors took fresh exposure to the banking sector Turnover a crucial indicator of the market reached Tk 870 billion on the countrys premier bourse jumping 14 per cent from the previous days transaction of Tk 765 billion It was the biggest single-day transaction since October 11 when the turnover totalled a record Tk 1092 billion Along with rising turnover DSEX the prime index of the Dhaka bourse continued to keep its gaining momentum closing 3449 points higher at 6193 points DSEX which replaced the DGEN in nearly five years back added more than 121 points or 20 per cent in the past four consecutive sessions The two other indices -- the DS30 index and the DSE Shariah Index (DSES) -- also followed suit to end at 2244 and 1341 points after gaining 1422 points and 443 points respectively Brokers said the market maintained the bullish trend for the four straight sessions as the enthusiastic investors chased the banking sector stocks The market continued the bullish trend for the four consecutive sessions as the enthusiastic investors were active for the banking food and engineering sector stocks commented EBL Securities a stockbroker in its regular market analysis

Daily News Flash 12th November 2017

33

It noted that the core index remained positive throughout the session as optimistic investors kept buying sector-wise stocks while some rebalanced their portfolios Meanwhile share price of newly listed Oimex Electrode continued to decline for the three consecutive sessions after unusual hike during its debut trading on Monday The companys share price fell 763 per cent to close at Tk 9810 on Thursday after jumping more than tenfold during the debut trading which experts termed unusual Block trade contributed Tk 241 million to the days total turnover with stocks like BATBC Square Pharmaceuticals Singer Bangladesh and Beximco Pharma dominating the block trade board Among the major sectors pharmaceuticals posted the highest gain of 122 per cent followed by banking sector (083 per cent) food amp allied (067 per cent) engineering (033 per cent) financial institutions (003 per cent) and power (003 per cent) Only telecommunication sector faced a 045 per cent correction A total number of 0140 million trades were executed in the days trading session with trading volume totalling 23171 million securities The total market capitalisation of the DSE stood at Tk 4179 billion against Tk 4168 billion in the previous session Losers however took a modest lead over the gainers as out of 325 issues traded 140 closed lower 130 closed higher and 55 remained unchanged on the DSE trading floor City Bank dominated the turnover chart for the second day in a row with 1035 million shares changing hands closely followed by Dhaka Bank LankaBangla Finance Brac Bank and Keya Cosmetics Reckitt Benckiser was also the days best performer posting a gain of 624 per cent while Qasem Drycells was the days biggest loser shedding 1235 per cent The port city bourse Chittagong Stock Exchange (CSE) also ended higher with its Selective Categories Index -- CSCX --gaining more than 62 points to close at 11618 Losers beat gainers as 113 issues closed lower 97 closed higher and 37 remained unchanged on the CSE The port city bourse traded 1604 million shares and mutual fund units generating a turnover of Tk 483 million Source httptodaythefinancialexpresscombdstock-corporatedse-turnover-crosses-tk-80-billion-mark-1510245247date=10-11-2017

TEN COS GRAB 32PC TURNOVER ON DSE The banking sector continued to dominate the transaction chart of the Dhaka Stock Exchange (DSE) accounting for 39 per cent of the total turnover on Thursday Four banks made their way to the top 10 turnover chart with City Bank leading the chart for the second day in a row Brokers said the investors chased the banking sector issues as more than 63 per cent of listed banks showed positive earnings in the third quarter (July-September period) Meanwhile top 10 traded companies including four banks grabbed more than 32 per cent of turnover on the Dhaka bourse The total turnover on the premier bourse reached Tk 870 billion up 14 per cent from the previous days Tk 765 billion The most active shares in terms of value included City Bank Dhaka Bank LankaBangla Finance Brac Bank Keya Cosmetics Square Pharmaceuticals Beximco Pharmaceuticals IFAD Autos Exim Bank and IDLC Finance According to statistics available with the DSE about 1035 million shares of City Bank were traded generating a turnover of Tk 553 million or 635 per cent of the total transactions

Daily News Flash 12th November 2017

34

The companys share price hovered between Tk 5240 and Tk 5440 before closing at Tk 5390 advancing 228 per cent over the previous session Dhaka Bank came in next with shares of Tk 395 million changing hands contributing 454 per cent to the total turnover The banks share price closed 347 per cent higher at Tk 2380 LankaBangla notched the third spot with shares of Tk 266 million changing hands making up 305 per cent of the total turnover Its share price ended 063 per cent higher at Tk 6430 Brac Bank emerged the fourth with shares of Tk 257 million changing hands grabbing 295 per cent of the total turnover The banks share price settled 123 per cent higher at Tk 107 Keya Cosmetics featured a turnover of Tk 247 million or 284 per cent of the total turnover Its share price closed 201 per cent higher at Tk 1520 The turnover of Square Pharma was Tk 241 million or 276 per cent of the total transaction Its share price ended 612 per cent down at Tk 27890 Beximco Pharma featured a turnover of Tk 211 million or 242 per cent of the total turnover Its share price advanced 428 per cent to close at Tk 10960 The turnover of IFAD was Tk 208 million accounting for 238 per cent of the total turnover Its share price closed at Tk 14070 gaining 195 per cent Exim Bank featured a turnover of Tk 196 million or 225 per cent of the total transaction The banks share price inched up 055 per cent to close at Tk 1830 IDLC also made its way to the top ten turnover chart with shares of Tk 188 million changing hands Its share price closed 223 per cent higher at Tk 9150 Source httptodaythefinancialexpresscombdstock-corporateten-cos-grab-32pc-turnover-on-dse-1510245290date=10-11-2017

FOREIGN INVESTMENT HIKE INFO DRIVES MODERATE GAINS ON DSE The Dhaka bourse Thursday closed the session posting a moderate rise in the broad index and turnover amid mixed performance displayed by major sectors On the day most of the major sectors declined but the turnover crossed Tk 80 billion-mark after two sessions on Dhaka Stock Exchange (DSE) mainly because of investors increased participation in the banking sector According to a market review of International Leasing Securities positive momentum in some big-cap stocks especially from bank food and engineering sectors helped the bourse to close in green The market started the session with a positive note and the DSE broad index DSEX witnessed little ups and downs before closing higher According to AT Capital Partners the market remained sideways till the midsession The DSEX rose again in the second half of the session and closed at 61936 up by 345 points The shariah based index DSES and blue chip index DS30 also rose marginally The turnover stood at above Tk 870 billion which was 1370 per cent higher than the turnover of the previous session The confident drive was initiated by the investors buying spree riding on the news of doubling net foreign investment in stocks year-on-year in the first ten months of 2017 said the International Leasing SecuritiesAmong the gaining sectors bank advanced 08 per cent and engineering 03 per cent Of the losing sectors pharmaceuticals amp chemicals declined 11 per cent telecommunication 05 per cent and textiles 09 per cent The banking sector grabbed 384 per cent of the market turnover at the premier bourse DSECity Bank topped the turnover chart with a value of Tk 553 million followed by Dhaka Bank LankaBangla Finance BRAC Bank and Keya CosmeticsReckitt Benckiser (Bd) limited topped the gainers chart with a rise of 624 per cent to close at Tk 18456 while Quasem Drycells was the worst loser after declining 1235 per cent to close at Tk 8230 Source httptodaythefinancialexpresscombdstock-corporateforeign-investment-hike-info-drives-moderate-gains-on-dse-1510245365date=10-11-2017

Daily News Flash 12th November 2017

35

MORE JAPANESE COMPANIES SEEK TO INVEST IN BANGLADESH Japanese Ambassador to Bangladesh Hiroyasu Izumi has said the Japanese investors are keen to invest in Bangladesh considering the lucrative offer and ideal atmosphere for foreign investment reports BSS The Japanese investors expressed more interest to invest in Bangladesh at recently-held the third round of Public-Private Economic Dialogue between Bangladesh and Japan he said while visiting the Chittagong Export Processing Zone (CEPZ) on Thursday The envoy expressed the hopes that Japanese investment in the Export Processing Zones (EPZs) will increase after the successful dialogue said a press release More and more Japanese companies will come to invest in this country he added General Manager of CEPZ Khorshid Alam maed a PowerPoint presentation highlighting the overall scenario of EPZ as well as Bangladesh Export Processing Zone Authority (BEPZA) Mentioning Bangladesh EPZs as the Bonanza for Investors he said investors from 38 countries have set up industries in the EPZs and invested US $442 billion He informed the ambassador that BEPZA has ensured three layer security system including 24-hour CCTV surveillance in the key points of EPZ and factory premises for the safety of the investors Source httptodaythefinancialexpresscombdtrade-marketmore-japanese-companies-seek-to-invest-in-bangladesh-1510250285date=10-11-2017

Source httpwwwarthosuchakcomarchives388209

১৬০

১১৫ ৪ ৫ ১০ ২০

৩০ ( )

( )

৩০ ২০১৭ ১৫

৩ ও ১২

২ ১৪ ( ) ৩৪

২৪

Source httpwwwarthosuchakcomarchives388257

Daily News Flash 12th November 2017

36

৫৩ ( ) ১৫ ও ২

১ ১ ৪৩ ২১০ ৫৩ ৪৪

৩২ ৫০

৮ ৫৮

২০

১ ২৪

৯ ২৭ ৫৫৫ ৯ ৩৮

-

Source httpwwwarthosuchakcomarchives388125

৩৫ ( ) ৩৫

২৪৫ ৩

১৭ ১১৯ ২১

ও - ১১

৯ ৬ - ৫ ৪

- ও ২

ও ১

Source httpwwwarthosuchakcomarchives388085

- ফ ৪০ ও - ৪০

৬ ( ) ৫ ৯ ৫ ৪৯২ ১১

৫৬ ৪৫১ ২৯

১২ ( ও)

( )

-

- ১০

( ও) ৮০

৪৯ ৩৭ ৯৮

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১০ ও ৩ ১০

৩০ ২০১৬ ৩৫ ৬৩

৫ ( ) ৩ ৪৯

Daily News Flash 12th November 2017

37

Source httpwwwarthosuchakcomarchives387762

lsquo rsquo

( )

lsquo - rsquo

( ) ও

২০০২ ( ২ )

৫৪৬

ও ১৫

ও ১৫ ৭৫ ও

১০-১২ ১

১৫৫ ৬৭

ও ২০১০

ও ও ও -

ঋ ঋ

১৫ ৪ ৩

২ ২ ৪ ১৫ ৬

( )

Source httpwwwarthosuchakcomarchives388276

- ও ও

Daily News Flash 12th November 2017

38

৩৮ ও ৪৩

১০০ ৬১ ৫৮ ২২৫ ১ ০৫

Source httpwwwarthosuchakcomarchives387849

- ও ( -২)

৬ ও

ও ৫ ৩০০

ও ও

৭ ২০০

( ও )

ও ও

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rsquo ও

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৫ ৩০০

- ১০ - ৪২৯ -

৩২৮

- ১০

( )

২০১৪

( ও) ও ( )

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২ ও ও

ও ও ও

ও ২০১১- ও

ও ( )

Daily News Flash 12th November 2017

39

(১০ ) ৫ ৭৬৩

৬৩ ও

ও ( )

- ২০১৪ ও

ও ও

Source httpwwwprothom-alocomeconomyarticle1362971

ও ও

ও - ও

২০১৬-১৭ ২০ ও

ও ও lsquo rsquo

ও ১০ ও

৭৭ ২০১৭

১৬ ২৭ ও

২০১৬-২০১৭ ২০ lsquo rsquo

ও-

ও ও ও

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564382

ফ ( ও) ১১

ও ও

ও lsquo১১ ও rsquo

১০ ১৩

( ) ( )

Daily News Flash 12th November 2017

40

- ও

-

( )

( )

lsquo ও

rsquo ও

২৬ ১০

১৬

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564383

১ ৫০

ও ২০৫০

২৩

১৬ ৫৯ ২০১১

২০৩০

( )

ঋ ও ও

৬৮ ৬৭

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564384

ফ lsquo

ও ও

( ) ও

- ও

( ও ) ( )

Daily News Flash 12th November 2017

41

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564388

৪৫ ও

৮৪ ৮৩

৯২০

২৭ ২৪ ৭ ৩

৬ ৮৯

৯ ১ ৭২ ১৪ ৪৮

৪৫

ও ১৭ ৫০

১৯৩ ১০ ২০১৫-১৬ ৪১৩ ১০ ও ও

২০১৪-১৫ ৩৭৫ ৮০ ৩৫ ৭০

২০১৩-১৪ ৫১৫ ও

৮১ ২ ৫১ ৩ ২০

২ ও

৮৪

৮১

- ও

৮৩

৮২ ৯৫

ও ও - ও

ও ও ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17112200 - - - -

ও ৫০

ও ( ) ( )

ও ও

Daily News Flash 12th November 2017

42

ও ও

১০০

৮ ও

৩০০ ( )

ও ১৫০

২০০ ১০০

২০০

২৭ ৭

ও ও

ও ৩০ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111811 - - - -

-

২৭ ১১

১০

( ) ২৮৪

৬ ২৮ ৭ ১৫১

৭৪

ও - ও

ও - ও

ও ৩

৭ ১ ২৩

৯৪৪ ৮৮২ ১০

ও ৪ ৭ ও

৪ ৩৮ ও ১৫ ৪১ ২২ ৭০

২০ ৩৬ ১৩ ও

৪৬ ২২ ২০ ও

১৭ ৩৭১ ও ও

১৭ ও ৪৩ ও

Daily News Flash 12th November 2017

43

৬ ২০ ও ১৬

৩৫ ২০ ২৭

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111810 - - - - -

ও ও

১৩০ ও ১৪০

৫৫ ও ৯৭ ১১৩

৩৭

৩৪

৬১৯৩ ৬২ ১১৬১৭

৩০ ১৯

ও ও

ও - ও

৪৮ ৩১

১২ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111808 - - - - -

৩৫ ও ১০

ও ( ) ও

১০

ও ও -

২ ৩০০

২০১৪ ও

ও ৭ ২০১৪ ও ২০১৫

৫ ৭ ও ১২ ৮ ২৩

২০১৩ ১ ৪২০ ২০১৪ ১০ ৫ ১ ৫৭০

১৩ ৪ ও ১ ৩৫৮ ১০

২০১৬ ও ৩ ৫ ১ ৩১০ ২০১৪

২০১৬ mdash ২ ১ ঋ

১০ ও ২০১৩

২৯ ৮০ ২০১৪ ৫ ৭ ৩১ ৫০ ২০১৫

১২ ৩৫ ৩০ ২০১৬ ৭ ৩৭ ৮০

Daily News Flash 12th November 2017

44

২০১৪ ২০১৬

৩২ ৩৫ ও ৫০ ১৯

৫৬

১৭ ৪৬ ২০১৪ ২০১৬

৭২ ১০০ ও ১১১

২০১৪ ২০১৬ ১৫ ৬৩

৯১ ১১৪ ও ১১৮ ৮ ২৩

৮০ ৯০ ও

ও -

ও -

ও ও ও

১০ ও

১০ ও ২২

৭১ ১২ ৪২

৩২ ২৬ ও

ও ও

( ) ও

ও ২০২১ ও ও

৫ ১ ১৬

ও ও

Source httpbonikbartanetbanglanews2017-11-12137992 - - -- -

৫০০ ৫০০ ও

ও ৩০ ২০১৭

৫০০ ও ঋ ২০১৮

৩০

১ ২০ ও ১৫০

১১

Daily News Flash 12th November 2017

45

৩০০ ৬০০

( ) ও

১ ২৫ ও ১০

১০ ও

ঋ ও

৩০ ২০১৭ ৩ ও ১২ ও

( ) ২ ১৪ ২ ১

ও ৩০ ১১

( ) ও ও

( - ) ৬৬ ৫৫ ৩০

( ) ৩৪ ৯০

ও ও ও

( ) ও

ও ও ২০১৫ ৩০ ১০ ২০১৬

১২

( ) ৪১ ২০ ও ২৩ ৬০

৫০ ও

২০১৪ ৩০০ ও ১৪৮ ৪৬ ৫০

১৯১ ৬২ ৩৭ ৩১

১২ ৪৫ ৫০ ২৪

ও ( ) ১৬ ৫৩

ও ১৫ ২২

Source httpbonikbartanetbanglanews2017-11-12137966৫০০- - - - -ও -

৬৩

- ও ও

৬২ ৯৪ ৫

৬২

৯০

২০১৪ - -

- ও

২০১৬-১৭ ৫ ৬২ ও ২০১৩-১৪

১২

( ) ৯০

-

ও - - ও -

Daily News Flash 12th November 2017

46

- ও

৬২ ৯৪

২০১৩-১৪ ৭০ ৭৮ ২০১৪-১৫ ৫৪ ২২

২০১৫-১৬ ৩৯ ৩৩ ও ২৬ ২৩

ও ২০১৩-১৪

১২ ৩৬ ২০১৪-১৫ ৫ ৯১ ও ২০১৫-

১৬ ১৭ ৩০ ৫ ৬২

৩০ ২০১৭ ১০

২ ৮৬ ও ৩

ও ২৪ ( )

২৭

১৯৬৪ ১২

৪ ও ও ১৯৭২

ও ( )

ও ৩৪ ৮ ও

৯০

৪৫ ও ৫

১৯৬৪ ১৯৭২ ১৯৮৯

১০০ ও ২৬ ১৬ ২০ ৫৪৩ ৭৭

৫ - ৫১ ১৫ ৬০ ও

৩২ ৯০

Source httpbonikbartanetbanglanews2017-11-11137853 - - - - - -৬৩---

( ) ও

১০

ও ও ও

-

ও ও

ও ঋ ও

ও ২০১৪ ও

ও ও

২০১৩

( ) ও

Daily News Flash 12th November 2017

47

২০১৪

২০১৪-১৬ ও

২০১৪

ও ২০১৪

২০১৫ ২৭ lsquo ও rsquo

ও ও

২০১৬ ২৪

( )

ও ও

- ও

ও ও ১৯৮৩ ২০১৬

ঋ ( ) ৫৬০

৮৬৪

২০১৬ ২০১৯ ও

ও ১৫ ২৫ ৩০ ও ৩০

ও ঋ ও

২০১৬ ঋ ১

৩৪২ ঋ ৬ ৫২ ১২৩

ঋ ২ ৪৪৩ ঋ ১০

৮৪ ঋ ৪০

৭২৬

ও ২০১৬ ৭৪১

৪৫৭

২০৭ ২৪৪

১০ ও

ও ও ও ও ও

Daily News Flash 12th November 2017

48

Source httpbonikbartanetbanglanews2017-11-12137998 - - - - - ও- -

( )

৩০ ২০১৭ ২০

( ) ২ ১ ১ ৫৯ (

) ৩০ ( ) ১৫ ৩৭

ও ২৮ ১১

( ) ২৮

২০১৬ ৩০ ১৮ ২০

২০১৪ ও ২০

১৫ ৩০

১৮ ৮০ ও ৯ ৬০

Source httpbonikbartanetbanglanews2017-11-11137850 - - - -

ফ ৭ ২০১৭-১৮ ৭ ৩ ৭৪

( ) ও

( - ) ১ ১৫০ ৫৮

(২০১৬-১৭) ১ ৭৫ ৩ ৬০ ৭

৩ ১ ১৫৯ ২০ ৭৪

ও mdash

৬ ৬৫ ১৭ ৬৩

mdash ও ও

১৫ ৪১ ২২ ৬৯ ১০

১৯ ৬৬ ১০ ২০ ২২

mdash ও ও ও

৩৯ ৫১ ও ২ ও

১৬ ৪৬ ও ও ৬ ৯৯ ও

৩ ৮৫ ৯ ৯৫

১৯ ৮২

৮০

ও ( )

mdash

Daily News Flash 12th November 2017

49

ও ও

Source httpbonikbartanetbanglanews2017-11-10137755 - - - -৭- - --

ফ - ফ ও -ও

-ও

-ও

২৯-১০-২০১১ ৩ ( ) ২৮-১০-২০১৪

৩ ( ) ২৮-১১-২০১৬

২৮-১০-২০১৭ ৩ ( )

২০১৬-১৫৮১৩৪ ৪৪ ০৭-০৮-

২০১২ ১২(৬) ২ ( ) ৬ ( )

-ও - ও ২ ( )

৬ ( ) ও ও

-ও ৩ ( )

-

ও ও

১৯৯৪

২ ২২-০৫-২০১২ -ও ৩

- -

১৯৯৪

-ও

- ও

( )

১৯৯৪

১৯৯৪ -ও

Source httpwwwsharenews24comindexphppage=detailsampnc=1ampnews_id=6587

Daily News Flash 12th November 2017

50

ফ ফ

১৫ ও

-( ) ও

৪৯

১৬ ৮৫

৫১ ৪৯

৪ ৩৬

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Source httpswwwdailystockbangladeshcom - - -

Page 27: Daily News Flash, 12th November, 2017 -  · PDF filebanglalink's revenue falls 4.57pc in q3 ... banks lack remedial strategy while npl rises worryingly

Daily News Flash 12th November 2017

27

Since the previous Food Outlook report a series of unfavourable climate-related events have affected main paddy crops in the Northern Hemisphere which have now reached the harvesting stage This has been the case in Asia where unlike 2016 the critical Northern Hemisphere summer months were characterised by mixed growing conditions that inhibited planting expansions As a result FAOs latest forecast of world rice production in 2017 points to a broadly stable output level of 5008 million tonnes Production in Asia is now forecast to fall 550 000 tonnes below the 2016 bumper harvest to 4525 million tonnes The UN agriculture agency has said the cost of importing food is rising in 2017 driven by increased international demand for most food stuffs as well as higher freight charges The cost of importing food is forecast to rise six per cent in 2017 to $1413 trillion making it the second highest bill on record while food commodity prices have been generally stable according to the latest Food Outlook that expressed concern about the economic and social impact of this trend on poor countries Although weather disruptions are set to stall production growth this season global rice supplies are still forecast to exceed utilisation enabling a small expansion of world rice inventories Global trade is expected to rise only modestly in 2018 after staging an 8 per cent recovery in 2017 The food import bills are set to increase by double-digit rates for least-developed countries (LDCs) and low-income food-deficit countries Aromatic rice varieties have risen eight times faster than the FAO All Rice Index which is up four per cent on the year However the higher import costs come at a time when inventories are robust harvest forecasts are strong and food commodity markets remain well supplied The export of tropical fruits is promising for poverty relief and rural development as almost all production takes place in developing countries The export volumes of mango pineapple avocado and papayas are on course to achieve a total combined value of $10 billion this year according to the Food Outlook Source httptodaythefinancialexpresscombdfirst-pagefao-fears-negative-bd-food-output-growth-on-flooding-1510336161date=11-11-2017

STOCKS NUDGE HIGHER AS BANK TELECOM ISSUES SURGE Stocks extended the winning streak for the two consecutive weeks that ended Thursday as enthusiastic investors continued their buying appetite on bank and telecommunication issues Market operators said the positive momentum in some large-cap issues especially from banking telecom pharmaceuticals and food amp allied sectors helped the bourse to stay upbeat The banking sector posted the highest return of 445 per cent as 27 out of 30 listed banks ticked higher Four banks gained more than 10 per cent each The telecom sector also surged 342 per cent as Grameenphone the countrys largest market-cap listed companys shares price jumped 40 per cent to close at Tk 45690 each The market extended the winning streak riding on heavyweight bank and telecom issues said an analyst at a leading brokerage firm The week featured five trading sessions as usual Of them first session saw marginal correction while last four closed higher Week-on-week DSEX the prime index of the Dhaka Stock Exchange (DSE) jacked up by 9454 points or 155 per cent to finish at 6193 The two other indices -- the DS30 index and the DSE Shariah Index (DSES) - also closed higher at 2244 and 1341 points

Daily News Flash 12th November 2017

28

Both the indices added 4264 points and 1218 points respectively During the week banking pharmaceuticals and telecommunication sector stocks contributed more to keep the market up commented City Bank Capital Resources a merchant bank in its weekly analysis The port city bourse Chittagong Stock Exchange (CSE) also ended higher The CSCX advanced 180 points or 156 per cent to finish at 11618 International Leasing Securities a stockbroker noted that the market observed an upbeat vibe throughout the week riding on the news of soaring of net foreign investment in the capital market in the first 10 months of 2017 compared to the same period of last year Net position of foreign portfolio with the DSE stood at Tk 1623 billion in January-October compared to Tk 80 billion in the same period a year ago However some investors were reshuffling their portfolios after observing the year-end corporate declarations and first quarter earning disclosures the stockbroker added According to EBL Securities The market witnessed an upbeat tune throughout the week riding on regained confidence among the market participants The stockbroker noted that preferable year-end and quarter-end earnings declarations by several companies helped them to remain positive about market The total turnover for the week amounted to Tk 3591 billion on the DSE which was Tk 3027 billion in the week before The daily turnover averaged Tk 718 billion which was nearly 19 per cent higher than the previous weeks average of Tk 605 billion Block trade accounted for 16 per cent of the total weekly turnover where stocks like BATBC Beximco Pharma Shahjalal Islami Bank Square Pharma and Singer Bangladesh dominated the block trade board Banking sector kept its dominance over the turnover chart grabbing 35 per cent of the weeks total transaction followed by engineering with 18 per cent and pharmaceuticals 11 per cent Out of 336 issues traded 207 closed lower 116 ended higher and 13 issues remained unchanged on the DSE trading floor during the week The market capitalisation of the DSE rose 137 per cent as it was Tk 4123 billion on the opening day of the week and it stood at Tk 4179 billion on closing day of the week City Bank topped the weeks turnover chart with 5390 million shares worth Tk 184 billion changing hands followed by IFAD Autos with Tk 121 billion Brac Bank Tk 10 billion LankaBangla Finance Tk 994 million and Dhaka Bank Tk 926 million Reckitt Benckiser was the weeks best performer posting a gain of 1925 per cent while Stylecraft was the weeks worst loser slumping by 3322 per cent A new issue - Oimex Electrode-- made debut last week and soared 1042 per cent from its offer price of Tk 10 in the first trading day on Monday Source httptodaythefinancialexpresscombdstock-corporatestocks-nudge-higher-as-bank-telecom-issues-surge-1510332934date=11-11-2017

BANGLADESH GROWING AS DENIM HUB The growing global demand for fashionable denim wear encouraged both local and foreign entrepreneurs to make fresh investment in Bangladesh participants and organisers of Bangladesh Denim Expo have said Many of the 30 local denim mills are going for expansion while a couple more will come into operation with fresh investment within next two or three years they said Some foreign companies are opening offices or setting up factories in Bangladesh they added The seventh edition of the two-day Bangladesh Denim Expo was held in the city recently with the theme transparency to highlight the need for transparency in the entire denim supply chain

Daily News Flash 12th November 2017

29

A total of 65 exhibitors from 12 countries participated in the show while more than 12 thousand visitors from across the world registered online to attend the two-day expo organisers said Talking to the FE on the sidelines of the expo Md Khalid Mosharof assistant general manager at Dekko Group said the group invested Tk 15 million in setting up a new factory of 44 lines at Ashulia that would go for denim item production in June next The main reason is to tap the growing global demand he said Echoing him Syeed Ahmed Chowdhury general manager operation at Square Denim said the company expanded its denim fabric production capacity to 30 million yards from the existing 15 million yards per month mainly to meet the demand He however opined that the expansion is taking place more in garment segments than in fabric production There is no alternative to expansion to sustain the existing business and achieve the $50 billion garment export earnings target by 2021 Sharif Zahir managing director of Ananta Group said stressing the need for positive branding of the sector Meanwhile Landes a German denim accessories maker started production in its new factory at Savar from this month It invested US $05 million We opened the factory in Bangladesh as we think this is the hub for denim business and there is a lot of business prospects here Manfred Slowik chief operating officer of Landes told the FE at his stall at the expo By the end of next year the total workforce in our new plant will be 120 people as we are recruiting new people from existing 30 Mr Slowik said Landes has a target to produce 500 million pieces of leather patches used in denim trousers as accessories in a year at its Savar plant from where such accessories will be supplied to the whole Asian region Many big brands like HampM VF and Walmart are their customers he said Nezahat Boni senior account manager of Orta a Turkish denim maker said her company supplies 30 million metres of denim fabrics in Bangladesh in a year against only 800 meters in 2011 We opened an office in Bangladesh in 2011 as we cannot ignore the importance of this country as a denim hub she said Prosperity Textile a Chinese company opened its office in Dhaka last year said Md Mujibul Hoque the companys Bangladesh Sales Director The company has targeted sale of 100 million yards a year across the globe while it also targets 30-40 per cent of their sales in Bangladesh Bangladesh is now the top denim products supplier to the European Union overtaking China and third largest to the US after China and Mexico industry people said Bangladesh supplies denim products to major global buyers and retailers including levis G-Star Raw HampM Tesco Wrangler Hugo Boss Walmart and Gap Source httptodaythefinancialexpresscombdtrade-marketbangladesh-growing-as-denim-hub-1510332061date=11-11-2017

EXPORTS UP 70PC IN JULY-OCTOBER Countrys export earnings grew by 703 per cent to US$1150 billion during first four months of the current fiscal year (FY 2017-18) according to official data released Thursday The earnings were $1079 billion in the same period (July-October) last FY In October 2017 the exports grew by 642 per cent to $284 billion the Export Promotion Bureau (EPB) data showed The overall exports in the first four months slightly (074 per cent) fell short of the periods target In October however the exports were 628 per cent higher than the months strategic target Readymade garment shipments fetched $943 billion marking 699 per cent growth during the period as compared to $882 billion in the same period of last FY

Daily News Flash 12th November 2017

30

The woven items registered 385 per cent growth in earnings to $445 billion than that of $428 billion in the same period of FY 2016-17 The earnings from knitwear export during the period grew by 995 per cent to $498 billion from $453 billion in the corresponding period of last FY Jute and jute goods exports rose by 1646 per cent to $34501 million from $29626 million in the same period of FY17 The earnings from agriculture products grew by 2022 per cent during the period while home textiles by 2037 per cent The earnings from leather and leather products however fell marginally by 002 per cent to $42844 million during the period than that of $42851 million in the same period last FY The export earnings from frozen food and live fish grew by 1541 per cent to $22691 million from $19661 million of the corresponding period of last fiscal Mahmud Hasan Khan vice president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) said the exports in the first four months of the current fiscal year fell short of the expected growth mainly because of failure in maintaining the lead time and short supply of gas and electricity Terming the knitwears growth satisfactory he said woven items manufacturers have been struggling to cope with the new challenge as buyers were reducing the volume of orders due to failure in meeting the lead time Without efficient port and strong backward linkage industry especially for the woven sub-sector it will be difficult for the sub-sector to bounce back he feared He pointed out that maximum of the woven fabric requirements were being met through imports But it was taking too much time to clear the imported fabrics and additional charges as a result at the Chittagong seaport that was facing unbearable congestion The government should provide necessary policy support to the exporters to establish strong backward linkage industry for the woven sub-sector he added Source httptodaythefinancialexpresscombdfirst-pageexports-up-70pc-in-july-october-1510248870date=10-11-2017

GAS CRISIS HURTING OUTPUT IN INDUSTRIAL BELT Factories in the countrys Tongi-Gazipur industrial belt have been facing acute gas crisis over the past few months following diversion of gas to upstream power plants The crisis has deteriorated further this week albeit some improvements for a few days last week said local industrialists and businessmen According to them if the ongoing gas crisis persists they may be forced to shut down their factories Officials of the Titas Gas Transmission and Distribution Company Limited (TGTDCL) however blamed the Petrobangla for the gas crunch Sources concerned say the industrial belt of Tongi-Gazipur is suffering badly for about four to five months from low pressure of gas coupled with poor electricity voltage -- often resulting in huge volume of industrial wastages and reduction of production efficiency According to the industry insiders a factory in the industrial belt requires 04 PSI (production per square inch) as optimum gas pressure but the pressure at times comes down to as low as 01 PSI these days -- especially during the daytime Gas pressure in the area becomes normal around 10pm11pm and stays for not more than 08 hours until 6am7am an entrepreneur of the industrial belt informed Asked an official of Titas said they are at present getting nearly 250 million cubic meters (MCM) less in recent weeks against their current demand of 1800 MCM gas in Titas franchise The downstream Titas franchise area covers greater Dhaka region which includes Gazipur alongside some other adjoining districts and greater Mymensingh he said

Daily News Flash 12th November 2017

31

A Petrobangla source however cited gas supply on priority basis to a number of upstream projects including power plants as reason behind supply shortage When asked Managing Director of Akij Group Sk Bashir Uddin termed the situation really worrisome According to him two of Akij Group companies situated in the area -- Akij Printing amp Packages Limited and Dhaka Tobacco Industries -- jointly contributed nearly Tk 35 billion (3500 crore) to the national exchequer in the 2016-17 fiscal year But were very much worried about our industrial output this year as production disruption following the twin crises involving gas supply and power supply Both will eventually disrupt our retail business in every phase he quipped This often results in a high rate of industrial wastage and reduction of production efficiency he added Bangladesh Auto Re-rolling Steel Mills amp Association Chairman Manwar Hossain who is also Anwar Group Managing Director echoed the same concern Factories in the industrial belt are now operating at one-third of their capacity which may lead to labour unrest and default of huge sum of bank loans he said Such disruption of production he cautions may even cause sudden shutdown of factories According to him none of the victims in that case will be the wilful defaulters -- they will be the victims of circumstances The businessman who has a steel factory called Anwar Ispat Limited in the industrial belt called for immediate introduction of ECM (electronically controlled meters) to check unabated gas engineering in the area which he deems to be yet another reason for gas supply crunch Titas officials according to him are encouraging co-generation scheme to help address the severe gas crisis But he said co-generation will require stable and smooth gas supply Government should ensure at least 10-15 years of smooth gas supply to encourage co-generation as what he said any industrial investment requires 20 years of payback period TGTDCL Deputy Managing Director Engineer Abdul Wahab Talukdar who is also the Project Director of Sripur-Joydevpur Transmission Pipeline Project said We cannot do anything to address the crisis if there is a lack of adequate gas supply Mentioning that all factories in the industrial belt are like my babies he unequivocally said Titas is not at fault He also admitted that priority-based power plants gas supply being the reason behind the current spell of gas crunch We have already started introducing electronic volumetric corrector (EVC) to stop illegal gas use in the area he said Factories he added should go for co-generation scheme for protecting their own interest Co-generation means utilising and absorbing heat generated from gas generators which Mr Wahab said will save energy A section of the businessmen however called for stopping fertiliser production and distributing the same among people at a subsidised price after importing it to facilitate smooth supply of gas to other industries Even if the government stops fertiliser production and opts for importing it for distribution at a subsidised rate there will only be an insignificant loss compared to the overall losses now being incurred said an industrialist who has more than one factory in the industrial belt Local sources said illegal and unapproved gas connections in various industries in and around the zone are also affecting gas supply badly among other reasons Source httptodaythefinancialexpresscombdfirst-pagegas-crisis-hurting-output-in-industrial-belt-1510249018date=10-11-2017

Daily News Flash 12th November 2017

32

SINGLE PERSON MAY FORM COMPANY A single person may form a commercial firm under a provision of the companies law being updated along with some other major business-stimulating measures Official sources said the government is considering incorporating some new provisions including one allowing individuals to form any company into the updated Companies Act The other provisions are formation of an appellate tribunal to resolve legal matters without wasting much time widespread automation of companies work and submission of annual company reports online Earlier the Ministry of Commerce (MoC) had received some recommendations from the stakeholders on how to update the law they added We got most of the recommendations from the stakeholders We hope we will be able to prepare the draft Companies Act within a month Md Obaidul Azam director trade organisations (DTO) told the FE He said the recommendations the ministry had received so far were being scrutinised before preparing a draft for updating the companies act Earlier different trade bodies had sent their respective recommendations to the MoC for incorporation into the law The MoC will hold a meeting with the countrys apex trade body after assessing the recommendations and suggestions the ministry official said Talking to the FE a leader of an influential trade body said they had sent some recommendationssuggestions to the MoC for the new Companies Act for betterment of the countrys trade and business According to Section 2 (1) (c) of the Companies Act 1994 Company means a company formed and registered under this Act or an existing company Thus a company is an association of persons formed under the Companies Act 1994 with a view to achieving some common objectives Though a company is regarded a legal person it possesses similar rights and owes similar obligations like a natural person Now any individual fulfilling the new criteria may be allowed to form a firm Source httptodaythefinancialexpresscombdfirst-pagesingle-person-may-form-company-1510249090date=10-11-2017

DSE TURNOVER CROSSES TK 80 BILLION MARK The daily turnover on Dhaka Stock Exchange (DSE) exceeded the Tk 80 billion mark on Thursday as investors took fresh exposure to the banking sector Turnover a crucial indicator of the market reached Tk 870 billion on the countrys premier bourse jumping 14 per cent from the previous days transaction of Tk 765 billion It was the biggest single-day transaction since October 11 when the turnover totalled a record Tk 1092 billion Along with rising turnover DSEX the prime index of the Dhaka bourse continued to keep its gaining momentum closing 3449 points higher at 6193 points DSEX which replaced the DGEN in nearly five years back added more than 121 points or 20 per cent in the past four consecutive sessions The two other indices -- the DS30 index and the DSE Shariah Index (DSES) -- also followed suit to end at 2244 and 1341 points after gaining 1422 points and 443 points respectively Brokers said the market maintained the bullish trend for the four straight sessions as the enthusiastic investors chased the banking sector stocks The market continued the bullish trend for the four consecutive sessions as the enthusiastic investors were active for the banking food and engineering sector stocks commented EBL Securities a stockbroker in its regular market analysis

Daily News Flash 12th November 2017

33

It noted that the core index remained positive throughout the session as optimistic investors kept buying sector-wise stocks while some rebalanced their portfolios Meanwhile share price of newly listed Oimex Electrode continued to decline for the three consecutive sessions after unusual hike during its debut trading on Monday The companys share price fell 763 per cent to close at Tk 9810 on Thursday after jumping more than tenfold during the debut trading which experts termed unusual Block trade contributed Tk 241 million to the days total turnover with stocks like BATBC Square Pharmaceuticals Singer Bangladesh and Beximco Pharma dominating the block trade board Among the major sectors pharmaceuticals posted the highest gain of 122 per cent followed by banking sector (083 per cent) food amp allied (067 per cent) engineering (033 per cent) financial institutions (003 per cent) and power (003 per cent) Only telecommunication sector faced a 045 per cent correction A total number of 0140 million trades were executed in the days trading session with trading volume totalling 23171 million securities The total market capitalisation of the DSE stood at Tk 4179 billion against Tk 4168 billion in the previous session Losers however took a modest lead over the gainers as out of 325 issues traded 140 closed lower 130 closed higher and 55 remained unchanged on the DSE trading floor City Bank dominated the turnover chart for the second day in a row with 1035 million shares changing hands closely followed by Dhaka Bank LankaBangla Finance Brac Bank and Keya Cosmetics Reckitt Benckiser was also the days best performer posting a gain of 624 per cent while Qasem Drycells was the days biggest loser shedding 1235 per cent The port city bourse Chittagong Stock Exchange (CSE) also ended higher with its Selective Categories Index -- CSCX --gaining more than 62 points to close at 11618 Losers beat gainers as 113 issues closed lower 97 closed higher and 37 remained unchanged on the CSE The port city bourse traded 1604 million shares and mutual fund units generating a turnover of Tk 483 million Source httptodaythefinancialexpresscombdstock-corporatedse-turnover-crosses-tk-80-billion-mark-1510245247date=10-11-2017

TEN COS GRAB 32PC TURNOVER ON DSE The banking sector continued to dominate the transaction chart of the Dhaka Stock Exchange (DSE) accounting for 39 per cent of the total turnover on Thursday Four banks made their way to the top 10 turnover chart with City Bank leading the chart for the second day in a row Brokers said the investors chased the banking sector issues as more than 63 per cent of listed banks showed positive earnings in the third quarter (July-September period) Meanwhile top 10 traded companies including four banks grabbed more than 32 per cent of turnover on the Dhaka bourse The total turnover on the premier bourse reached Tk 870 billion up 14 per cent from the previous days Tk 765 billion The most active shares in terms of value included City Bank Dhaka Bank LankaBangla Finance Brac Bank Keya Cosmetics Square Pharmaceuticals Beximco Pharmaceuticals IFAD Autos Exim Bank and IDLC Finance According to statistics available with the DSE about 1035 million shares of City Bank were traded generating a turnover of Tk 553 million or 635 per cent of the total transactions

Daily News Flash 12th November 2017

34

The companys share price hovered between Tk 5240 and Tk 5440 before closing at Tk 5390 advancing 228 per cent over the previous session Dhaka Bank came in next with shares of Tk 395 million changing hands contributing 454 per cent to the total turnover The banks share price closed 347 per cent higher at Tk 2380 LankaBangla notched the third spot with shares of Tk 266 million changing hands making up 305 per cent of the total turnover Its share price ended 063 per cent higher at Tk 6430 Brac Bank emerged the fourth with shares of Tk 257 million changing hands grabbing 295 per cent of the total turnover The banks share price settled 123 per cent higher at Tk 107 Keya Cosmetics featured a turnover of Tk 247 million or 284 per cent of the total turnover Its share price closed 201 per cent higher at Tk 1520 The turnover of Square Pharma was Tk 241 million or 276 per cent of the total transaction Its share price ended 612 per cent down at Tk 27890 Beximco Pharma featured a turnover of Tk 211 million or 242 per cent of the total turnover Its share price advanced 428 per cent to close at Tk 10960 The turnover of IFAD was Tk 208 million accounting for 238 per cent of the total turnover Its share price closed at Tk 14070 gaining 195 per cent Exim Bank featured a turnover of Tk 196 million or 225 per cent of the total transaction The banks share price inched up 055 per cent to close at Tk 1830 IDLC also made its way to the top ten turnover chart with shares of Tk 188 million changing hands Its share price closed 223 per cent higher at Tk 9150 Source httptodaythefinancialexpresscombdstock-corporateten-cos-grab-32pc-turnover-on-dse-1510245290date=10-11-2017

FOREIGN INVESTMENT HIKE INFO DRIVES MODERATE GAINS ON DSE The Dhaka bourse Thursday closed the session posting a moderate rise in the broad index and turnover amid mixed performance displayed by major sectors On the day most of the major sectors declined but the turnover crossed Tk 80 billion-mark after two sessions on Dhaka Stock Exchange (DSE) mainly because of investors increased participation in the banking sector According to a market review of International Leasing Securities positive momentum in some big-cap stocks especially from bank food and engineering sectors helped the bourse to close in green The market started the session with a positive note and the DSE broad index DSEX witnessed little ups and downs before closing higher According to AT Capital Partners the market remained sideways till the midsession The DSEX rose again in the second half of the session and closed at 61936 up by 345 points The shariah based index DSES and blue chip index DS30 also rose marginally The turnover stood at above Tk 870 billion which was 1370 per cent higher than the turnover of the previous session The confident drive was initiated by the investors buying spree riding on the news of doubling net foreign investment in stocks year-on-year in the first ten months of 2017 said the International Leasing SecuritiesAmong the gaining sectors bank advanced 08 per cent and engineering 03 per cent Of the losing sectors pharmaceuticals amp chemicals declined 11 per cent telecommunication 05 per cent and textiles 09 per cent The banking sector grabbed 384 per cent of the market turnover at the premier bourse DSECity Bank topped the turnover chart with a value of Tk 553 million followed by Dhaka Bank LankaBangla Finance BRAC Bank and Keya CosmeticsReckitt Benckiser (Bd) limited topped the gainers chart with a rise of 624 per cent to close at Tk 18456 while Quasem Drycells was the worst loser after declining 1235 per cent to close at Tk 8230 Source httptodaythefinancialexpresscombdstock-corporateforeign-investment-hike-info-drives-moderate-gains-on-dse-1510245365date=10-11-2017

Daily News Flash 12th November 2017

35

MORE JAPANESE COMPANIES SEEK TO INVEST IN BANGLADESH Japanese Ambassador to Bangladesh Hiroyasu Izumi has said the Japanese investors are keen to invest in Bangladesh considering the lucrative offer and ideal atmosphere for foreign investment reports BSS The Japanese investors expressed more interest to invest in Bangladesh at recently-held the third round of Public-Private Economic Dialogue between Bangladesh and Japan he said while visiting the Chittagong Export Processing Zone (CEPZ) on Thursday The envoy expressed the hopes that Japanese investment in the Export Processing Zones (EPZs) will increase after the successful dialogue said a press release More and more Japanese companies will come to invest in this country he added General Manager of CEPZ Khorshid Alam maed a PowerPoint presentation highlighting the overall scenario of EPZ as well as Bangladesh Export Processing Zone Authority (BEPZA) Mentioning Bangladesh EPZs as the Bonanza for Investors he said investors from 38 countries have set up industries in the EPZs and invested US $442 billion He informed the ambassador that BEPZA has ensured three layer security system including 24-hour CCTV surveillance in the key points of EPZ and factory premises for the safety of the investors Source httptodaythefinancialexpresscombdtrade-marketmore-japanese-companies-seek-to-invest-in-bangladesh-1510250285date=10-11-2017

Source httpwwwarthosuchakcomarchives388209

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Daily News Flash 12th November 2017

36

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38

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Source httpwwwprothom-alocomeconomyarticle1362971

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Source httpwwwkalerkanthocomprint-editionindustry-business20171112564382

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41

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564388

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৮১ ২ ৫১ ৩ ২০

২ ও

৮৪

৮১

- ও

৮৩

৮২ ৯৫

ও ও - ও

ও ও ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17112200 - - - -

ও ৫০

ও ( ) ( )

ও ও

Daily News Flash 12th November 2017

42

ও ও

১০০

৮ ও

৩০০ ( )

ও ১৫০

২০০ ১০০

২০০

২৭ ৭

ও ও

ও ৩০ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111811 - - - -

-

২৭ ১১

১০

( ) ২৮৪

৬ ২৮ ৭ ১৫১

৭৪

ও - ও

ও - ও

ও ৩

৭ ১ ২৩

৯৪৪ ৮৮২ ১০

ও ৪ ৭ ও

৪ ৩৮ ও ১৫ ৪১ ২২ ৭০

২০ ৩৬ ১৩ ও

৪৬ ২২ ২০ ও

১৭ ৩৭১ ও ও

১৭ ও ৪৩ ও

Daily News Flash 12th November 2017

43

৬ ২০ ও ১৬

৩৫ ২০ ২৭

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111810 - - - - -

ও ও

১৩০ ও ১৪০

৫৫ ও ৯৭ ১১৩

৩৭

৩৪

৬১৯৩ ৬২ ১১৬১৭

৩০ ১৯

ও ও

ও - ও

৪৮ ৩১

১২ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111808 - - - - -

৩৫ ও ১০

ও ( ) ও

১০

ও ও -

২ ৩০০

২০১৪ ও

ও ৭ ২০১৪ ও ২০১৫

৫ ৭ ও ১২ ৮ ২৩

২০১৩ ১ ৪২০ ২০১৪ ১০ ৫ ১ ৫৭০

১৩ ৪ ও ১ ৩৫৮ ১০

২০১৬ ও ৩ ৫ ১ ৩১০ ২০১৪

২০১৬ mdash ২ ১ ঋ

১০ ও ২০১৩

২৯ ৮০ ২০১৪ ৫ ৭ ৩১ ৫০ ২০১৫

১২ ৩৫ ৩০ ২০১৬ ৭ ৩৭ ৮০

Daily News Flash 12th November 2017

44

২০১৪ ২০১৬

৩২ ৩৫ ও ৫০ ১৯

৫৬

১৭ ৪৬ ২০১৪ ২০১৬

৭২ ১০০ ও ১১১

২০১৪ ২০১৬ ১৫ ৬৩

৯১ ১১৪ ও ১১৮ ৮ ২৩

৮০ ৯০ ও

ও -

ও -

ও ও ও

১০ ও

১০ ও ২২

৭১ ১২ ৪২

৩২ ২৬ ও

ও ও

( ) ও

ও ২০২১ ও ও

৫ ১ ১৬

ও ও

Source httpbonikbartanetbanglanews2017-11-12137992 - - -- -

৫০০ ৫০০ ও

ও ৩০ ২০১৭

৫০০ ও ঋ ২০১৮

৩০

১ ২০ ও ১৫০

১১

Daily News Flash 12th November 2017

45

৩০০ ৬০০

( ) ও

১ ২৫ ও ১০

১০ ও

ঋ ও

৩০ ২০১৭ ৩ ও ১২ ও

( ) ২ ১৪ ২ ১

ও ৩০ ১১

( ) ও ও

( - ) ৬৬ ৫৫ ৩০

( ) ৩৪ ৯০

ও ও ও

( ) ও

ও ও ২০১৫ ৩০ ১০ ২০১৬

১২

( ) ৪১ ২০ ও ২৩ ৬০

৫০ ও

২০১৪ ৩০০ ও ১৪৮ ৪৬ ৫০

১৯১ ৬২ ৩৭ ৩১

১২ ৪৫ ৫০ ২৪

ও ( ) ১৬ ৫৩

ও ১৫ ২২

Source httpbonikbartanetbanglanews2017-11-12137966৫০০- - - - -ও -

৬৩

- ও ও

৬২ ৯৪ ৫

৬২

৯০

২০১৪ - -

- ও

২০১৬-১৭ ৫ ৬২ ও ২০১৩-১৪

১২

( ) ৯০

-

ও - - ও -

Daily News Flash 12th November 2017

46

- ও

৬২ ৯৪

২০১৩-১৪ ৭০ ৭৮ ২০১৪-১৫ ৫৪ ২২

২০১৫-১৬ ৩৯ ৩৩ ও ২৬ ২৩

ও ২০১৩-১৪

১২ ৩৬ ২০১৪-১৫ ৫ ৯১ ও ২০১৫-

১৬ ১৭ ৩০ ৫ ৬২

৩০ ২০১৭ ১০

২ ৮৬ ও ৩

ও ২৪ ( )

২৭

১৯৬৪ ১২

৪ ও ও ১৯৭২

ও ( )

ও ৩৪ ৮ ও

৯০

৪৫ ও ৫

১৯৬৪ ১৯৭২ ১৯৮৯

১০০ ও ২৬ ১৬ ২০ ৫৪৩ ৭৭

৫ - ৫১ ১৫ ৬০ ও

৩২ ৯০

Source httpbonikbartanetbanglanews2017-11-11137853 - - - - - -৬৩---

( ) ও

১০

ও ও ও

-

ও ও

ও ঋ ও

ও ২০১৪ ও

ও ও

২০১৩

( ) ও

Daily News Flash 12th November 2017

47

২০১৪

২০১৪-১৬ ও

২০১৪

ও ২০১৪

২০১৫ ২৭ lsquo ও rsquo

ও ও

২০১৬ ২৪

( )

ও ও

- ও

ও ও ১৯৮৩ ২০১৬

ঋ ( ) ৫৬০

৮৬৪

২০১৬ ২০১৯ ও

ও ১৫ ২৫ ৩০ ও ৩০

ও ঋ ও

২০১৬ ঋ ১

৩৪২ ঋ ৬ ৫২ ১২৩

ঋ ২ ৪৪৩ ঋ ১০

৮৪ ঋ ৪০

৭২৬

ও ২০১৬ ৭৪১

৪৫৭

২০৭ ২৪৪

১০ ও

ও ও ও ও ও

Daily News Flash 12th November 2017

48

Source httpbonikbartanetbanglanews2017-11-12137998 - - - - - ও- -

( )

৩০ ২০১৭ ২০

( ) ২ ১ ১ ৫৯ (

) ৩০ ( ) ১৫ ৩৭

ও ২৮ ১১

( ) ২৮

২০১৬ ৩০ ১৮ ২০

২০১৪ ও ২০

১৫ ৩০

১৮ ৮০ ও ৯ ৬০

Source httpbonikbartanetbanglanews2017-11-11137850 - - - -

ফ ৭ ২০১৭-১৮ ৭ ৩ ৭৪

( ) ও

( - ) ১ ১৫০ ৫৮

(২০১৬-১৭) ১ ৭৫ ৩ ৬০ ৭

৩ ১ ১৫৯ ২০ ৭৪

ও mdash

৬ ৬৫ ১৭ ৬৩

mdash ও ও

১৫ ৪১ ২২ ৬৯ ১০

১৯ ৬৬ ১০ ২০ ২২

mdash ও ও ও

৩৯ ৫১ ও ২ ও

১৬ ৪৬ ও ও ৬ ৯৯ ও

৩ ৮৫ ৯ ৯৫

১৯ ৮২

৮০

ও ( )

mdash

Daily News Flash 12th November 2017

49

ও ও

Source httpbonikbartanetbanglanews2017-11-10137755 - - - -৭- - --

ফ - ফ ও -ও

-ও

-ও

২৯-১০-২০১১ ৩ ( ) ২৮-১০-২০১৪

৩ ( ) ২৮-১১-২০১৬

২৮-১০-২০১৭ ৩ ( )

২০১৬-১৫৮১৩৪ ৪৪ ০৭-০৮-

২০১২ ১২(৬) ২ ( ) ৬ ( )

-ও - ও ২ ( )

৬ ( ) ও ও

-ও ৩ ( )

-

ও ও

১৯৯৪

২ ২২-০৫-২০১২ -ও ৩

- -

১৯৯৪

-ও

- ও

( )

১৯৯৪

১৯৯৪ -ও

Source httpwwwsharenews24comindexphppage=detailsampnc=1ampnews_id=6587

Daily News Flash 12th November 2017

50

ফ ফ

১৫ ও

-( ) ও

৪৯

১৬ ৮৫

৫১ ৪৯

৪ ৩৬

১৯১৩

১০০ ও ১৯০১ ১৯৬০

Source httpswwwdailystockbangladeshcom - - - -

- ( -১)

( ) ৮

৩০০ ও

( ) ১৬

- ২২৮ ৪৯ ১৮৩ ২০১৮

( ) ও

১৫০

( ) ও ৪০ ৩০

ও ও

ও ও

Source httpswwwdailystockbangladeshcom - - -

Page 28: Daily News Flash, 12th November, 2017 -  · PDF filebanglalink's revenue falls 4.57pc in q3 ... banks lack remedial strategy while npl rises worryingly

Daily News Flash 12th November 2017

28

Both the indices added 4264 points and 1218 points respectively During the week banking pharmaceuticals and telecommunication sector stocks contributed more to keep the market up commented City Bank Capital Resources a merchant bank in its weekly analysis The port city bourse Chittagong Stock Exchange (CSE) also ended higher The CSCX advanced 180 points or 156 per cent to finish at 11618 International Leasing Securities a stockbroker noted that the market observed an upbeat vibe throughout the week riding on the news of soaring of net foreign investment in the capital market in the first 10 months of 2017 compared to the same period of last year Net position of foreign portfolio with the DSE stood at Tk 1623 billion in January-October compared to Tk 80 billion in the same period a year ago However some investors were reshuffling their portfolios after observing the year-end corporate declarations and first quarter earning disclosures the stockbroker added According to EBL Securities The market witnessed an upbeat tune throughout the week riding on regained confidence among the market participants The stockbroker noted that preferable year-end and quarter-end earnings declarations by several companies helped them to remain positive about market The total turnover for the week amounted to Tk 3591 billion on the DSE which was Tk 3027 billion in the week before The daily turnover averaged Tk 718 billion which was nearly 19 per cent higher than the previous weeks average of Tk 605 billion Block trade accounted for 16 per cent of the total weekly turnover where stocks like BATBC Beximco Pharma Shahjalal Islami Bank Square Pharma and Singer Bangladesh dominated the block trade board Banking sector kept its dominance over the turnover chart grabbing 35 per cent of the weeks total transaction followed by engineering with 18 per cent and pharmaceuticals 11 per cent Out of 336 issues traded 207 closed lower 116 ended higher and 13 issues remained unchanged on the DSE trading floor during the week The market capitalisation of the DSE rose 137 per cent as it was Tk 4123 billion on the opening day of the week and it stood at Tk 4179 billion on closing day of the week City Bank topped the weeks turnover chart with 5390 million shares worth Tk 184 billion changing hands followed by IFAD Autos with Tk 121 billion Brac Bank Tk 10 billion LankaBangla Finance Tk 994 million and Dhaka Bank Tk 926 million Reckitt Benckiser was the weeks best performer posting a gain of 1925 per cent while Stylecraft was the weeks worst loser slumping by 3322 per cent A new issue - Oimex Electrode-- made debut last week and soared 1042 per cent from its offer price of Tk 10 in the first trading day on Monday Source httptodaythefinancialexpresscombdstock-corporatestocks-nudge-higher-as-bank-telecom-issues-surge-1510332934date=11-11-2017

BANGLADESH GROWING AS DENIM HUB The growing global demand for fashionable denim wear encouraged both local and foreign entrepreneurs to make fresh investment in Bangladesh participants and organisers of Bangladesh Denim Expo have said Many of the 30 local denim mills are going for expansion while a couple more will come into operation with fresh investment within next two or three years they said Some foreign companies are opening offices or setting up factories in Bangladesh they added The seventh edition of the two-day Bangladesh Denim Expo was held in the city recently with the theme transparency to highlight the need for transparency in the entire denim supply chain

Daily News Flash 12th November 2017

29

A total of 65 exhibitors from 12 countries participated in the show while more than 12 thousand visitors from across the world registered online to attend the two-day expo organisers said Talking to the FE on the sidelines of the expo Md Khalid Mosharof assistant general manager at Dekko Group said the group invested Tk 15 million in setting up a new factory of 44 lines at Ashulia that would go for denim item production in June next The main reason is to tap the growing global demand he said Echoing him Syeed Ahmed Chowdhury general manager operation at Square Denim said the company expanded its denim fabric production capacity to 30 million yards from the existing 15 million yards per month mainly to meet the demand He however opined that the expansion is taking place more in garment segments than in fabric production There is no alternative to expansion to sustain the existing business and achieve the $50 billion garment export earnings target by 2021 Sharif Zahir managing director of Ananta Group said stressing the need for positive branding of the sector Meanwhile Landes a German denim accessories maker started production in its new factory at Savar from this month It invested US $05 million We opened the factory in Bangladesh as we think this is the hub for denim business and there is a lot of business prospects here Manfred Slowik chief operating officer of Landes told the FE at his stall at the expo By the end of next year the total workforce in our new plant will be 120 people as we are recruiting new people from existing 30 Mr Slowik said Landes has a target to produce 500 million pieces of leather patches used in denim trousers as accessories in a year at its Savar plant from where such accessories will be supplied to the whole Asian region Many big brands like HampM VF and Walmart are their customers he said Nezahat Boni senior account manager of Orta a Turkish denim maker said her company supplies 30 million metres of denim fabrics in Bangladesh in a year against only 800 meters in 2011 We opened an office in Bangladesh in 2011 as we cannot ignore the importance of this country as a denim hub she said Prosperity Textile a Chinese company opened its office in Dhaka last year said Md Mujibul Hoque the companys Bangladesh Sales Director The company has targeted sale of 100 million yards a year across the globe while it also targets 30-40 per cent of their sales in Bangladesh Bangladesh is now the top denim products supplier to the European Union overtaking China and third largest to the US after China and Mexico industry people said Bangladesh supplies denim products to major global buyers and retailers including levis G-Star Raw HampM Tesco Wrangler Hugo Boss Walmart and Gap Source httptodaythefinancialexpresscombdtrade-marketbangladesh-growing-as-denim-hub-1510332061date=11-11-2017

EXPORTS UP 70PC IN JULY-OCTOBER Countrys export earnings grew by 703 per cent to US$1150 billion during first four months of the current fiscal year (FY 2017-18) according to official data released Thursday The earnings were $1079 billion in the same period (July-October) last FY In October 2017 the exports grew by 642 per cent to $284 billion the Export Promotion Bureau (EPB) data showed The overall exports in the first four months slightly (074 per cent) fell short of the periods target In October however the exports were 628 per cent higher than the months strategic target Readymade garment shipments fetched $943 billion marking 699 per cent growth during the period as compared to $882 billion in the same period of last FY

Daily News Flash 12th November 2017

30

The woven items registered 385 per cent growth in earnings to $445 billion than that of $428 billion in the same period of FY 2016-17 The earnings from knitwear export during the period grew by 995 per cent to $498 billion from $453 billion in the corresponding period of last FY Jute and jute goods exports rose by 1646 per cent to $34501 million from $29626 million in the same period of FY17 The earnings from agriculture products grew by 2022 per cent during the period while home textiles by 2037 per cent The earnings from leather and leather products however fell marginally by 002 per cent to $42844 million during the period than that of $42851 million in the same period last FY The export earnings from frozen food and live fish grew by 1541 per cent to $22691 million from $19661 million of the corresponding period of last fiscal Mahmud Hasan Khan vice president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) said the exports in the first four months of the current fiscal year fell short of the expected growth mainly because of failure in maintaining the lead time and short supply of gas and electricity Terming the knitwears growth satisfactory he said woven items manufacturers have been struggling to cope with the new challenge as buyers were reducing the volume of orders due to failure in meeting the lead time Without efficient port and strong backward linkage industry especially for the woven sub-sector it will be difficult for the sub-sector to bounce back he feared He pointed out that maximum of the woven fabric requirements were being met through imports But it was taking too much time to clear the imported fabrics and additional charges as a result at the Chittagong seaport that was facing unbearable congestion The government should provide necessary policy support to the exporters to establish strong backward linkage industry for the woven sub-sector he added Source httptodaythefinancialexpresscombdfirst-pageexports-up-70pc-in-july-october-1510248870date=10-11-2017

GAS CRISIS HURTING OUTPUT IN INDUSTRIAL BELT Factories in the countrys Tongi-Gazipur industrial belt have been facing acute gas crisis over the past few months following diversion of gas to upstream power plants The crisis has deteriorated further this week albeit some improvements for a few days last week said local industrialists and businessmen According to them if the ongoing gas crisis persists they may be forced to shut down their factories Officials of the Titas Gas Transmission and Distribution Company Limited (TGTDCL) however blamed the Petrobangla for the gas crunch Sources concerned say the industrial belt of Tongi-Gazipur is suffering badly for about four to five months from low pressure of gas coupled with poor electricity voltage -- often resulting in huge volume of industrial wastages and reduction of production efficiency According to the industry insiders a factory in the industrial belt requires 04 PSI (production per square inch) as optimum gas pressure but the pressure at times comes down to as low as 01 PSI these days -- especially during the daytime Gas pressure in the area becomes normal around 10pm11pm and stays for not more than 08 hours until 6am7am an entrepreneur of the industrial belt informed Asked an official of Titas said they are at present getting nearly 250 million cubic meters (MCM) less in recent weeks against their current demand of 1800 MCM gas in Titas franchise The downstream Titas franchise area covers greater Dhaka region which includes Gazipur alongside some other adjoining districts and greater Mymensingh he said

Daily News Flash 12th November 2017

31

A Petrobangla source however cited gas supply on priority basis to a number of upstream projects including power plants as reason behind supply shortage When asked Managing Director of Akij Group Sk Bashir Uddin termed the situation really worrisome According to him two of Akij Group companies situated in the area -- Akij Printing amp Packages Limited and Dhaka Tobacco Industries -- jointly contributed nearly Tk 35 billion (3500 crore) to the national exchequer in the 2016-17 fiscal year But were very much worried about our industrial output this year as production disruption following the twin crises involving gas supply and power supply Both will eventually disrupt our retail business in every phase he quipped This often results in a high rate of industrial wastage and reduction of production efficiency he added Bangladesh Auto Re-rolling Steel Mills amp Association Chairman Manwar Hossain who is also Anwar Group Managing Director echoed the same concern Factories in the industrial belt are now operating at one-third of their capacity which may lead to labour unrest and default of huge sum of bank loans he said Such disruption of production he cautions may even cause sudden shutdown of factories According to him none of the victims in that case will be the wilful defaulters -- they will be the victims of circumstances The businessman who has a steel factory called Anwar Ispat Limited in the industrial belt called for immediate introduction of ECM (electronically controlled meters) to check unabated gas engineering in the area which he deems to be yet another reason for gas supply crunch Titas officials according to him are encouraging co-generation scheme to help address the severe gas crisis But he said co-generation will require stable and smooth gas supply Government should ensure at least 10-15 years of smooth gas supply to encourage co-generation as what he said any industrial investment requires 20 years of payback period TGTDCL Deputy Managing Director Engineer Abdul Wahab Talukdar who is also the Project Director of Sripur-Joydevpur Transmission Pipeline Project said We cannot do anything to address the crisis if there is a lack of adequate gas supply Mentioning that all factories in the industrial belt are like my babies he unequivocally said Titas is not at fault He also admitted that priority-based power plants gas supply being the reason behind the current spell of gas crunch We have already started introducing electronic volumetric corrector (EVC) to stop illegal gas use in the area he said Factories he added should go for co-generation scheme for protecting their own interest Co-generation means utilising and absorbing heat generated from gas generators which Mr Wahab said will save energy A section of the businessmen however called for stopping fertiliser production and distributing the same among people at a subsidised price after importing it to facilitate smooth supply of gas to other industries Even if the government stops fertiliser production and opts for importing it for distribution at a subsidised rate there will only be an insignificant loss compared to the overall losses now being incurred said an industrialist who has more than one factory in the industrial belt Local sources said illegal and unapproved gas connections in various industries in and around the zone are also affecting gas supply badly among other reasons Source httptodaythefinancialexpresscombdfirst-pagegas-crisis-hurting-output-in-industrial-belt-1510249018date=10-11-2017

Daily News Flash 12th November 2017

32

SINGLE PERSON MAY FORM COMPANY A single person may form a commercial firm under a provision of the companies law being updated along with some other major business-stimulating measures Official sources said the government is considering incorporating some new provisions including one allowing individuals to form any company into the updated Companies Act The other provisions are formation of an appellate tribunal to resolve legal matters without wasting much time widespread automation of companies work and submission of annual company reports online Earlier the Ministry of Commerce (MoC) had received some recommendations from the stakeholders on how to update the law they added We got most of the recommendations from the stakeholders We hope we will be able to prepare the draft Companies Act within a month Md Obaidul Azam director trade organisations (DTO) told the FE He said the recommendations the ministry had received so far were being scrutinised before preparing a draft for updating the companies act Earlier different trade bodies had sent their respective recommendations to the MoC for incorporation into the law The MoC will hold a meeting with the countrys apex trade body after assessing the recommendations and suggestions the ministry official said Talking to the FE a leader of an influential trade body said they had sent some recommendationssuggestions to the MoC for the new Companies Act for betterment of the countrys trade and business According to Section 2 (1) (c) of the Companies Act 1994 Company means a company formed and registered under this Act or an existing company Thus a company is an association of persons formed under the Companies Act 1994 with a view to achieving some common objectives Though a company is regarded a legal person it possesses similar rights and owes similar obligations like a natural person Now any individual fulfilling the new criteria may be allowed to form a firm Source httptodaythefinancialexpresscombdfirst-pagesingle-person-may-form-company-1510249090date=10-11-2017

DSE TURNOVER CROSSES TK 80 BILLION MARK The daily turnover on Dhaka Stock Exchange (DSE) exceeded the Tk 80 billion mark on Thursday as investors took fresh exposure to the banking sector Turnover a crucial indicator of the market reached Tk 870 billion on the countrys premier bourse jumping 14 per cent from the previous days transaction of Tk 765 billion It was the biggest single-day transaction since October 11 when the turnover totalled a record Tk 1092 billion Along with rising turnover DSEX the prime index of the Dhaka bourse continued to keep its gaining momentum closing 3449 points higher at 6193 points DSEX which replaced the DGEN in nearly five years back added more than 121 points or 20 per cent in the past four consecutive sessions The two other indices -- the DS30 index and the DSE Shariah Index (DSES) -- also followed suit to end at 2244 and 1341 points after gaining 1422 points and 443 points respectively Brokers said the market maintained the bullish trend for the four straight sessions as the enthusiastic investors chased the banking sector stocks The market continued the bullish trend for the four consecutive sessions as the enthusiastic investors were active for the banking food and engineering sector stocks commented EBL Securities a stockbroker in its regular market analysis

Daily News Flash 12th November 2017

33

It noted that the core index remained positive throughout the session as optimistic investors kept buying sector-wise stocks while some rebalanced their portfolios Meanwhile share price of newly listed Oimex Electrode continued to decline for the three consecutive sessions after unusual hike during its debut trading on Monday The companys share price fell 763 per cent to close at Tk 9810 on Thursday after jumping more than tenfold during the debut trading which experts termed unusual Block trade contributed Tk 241 million to the days total turnover with stocks like BATBC Square Pharmaceuticals Singer Bangladesh and Beximco Pharma dominating the block trade board Among the major sectors pharmaceuticals posted the highest gain of 122 per cent followed by banking sector (083 per cent) food amp allied (067 per cent) engineering (033 per cent) financial institutions (003 per cent) and power (003 per cent) Only telecommunication sector faced a 045 per cent correction A total number of 0140 million trades were executed in the days trading session with trading volume totalling 23171 million securities The total market capitalisation of the DSE stood at Tk 4179 billion against Tk 4168 billion in the previous session Losers however took a modest lead over the gainers as out of 325 issues traded 140 closed lower 130 closed higher and 55 remained unchanged on the DSE trading floor City Bank dominated the turnover chart for the second day in a row with 1035 million shares changing hands closely followed by Dhaka Bank LankaBangla Finance Brac Bank and Keya Cosmetics Reckitt Benckiser was also the days best performer posting a gain of 624 per cent while Qasem Drycells was the days biggest loser shedding 1235 per cent The port city bourse Chittagong Stock Exchange (CSE) also ended higher with its Selective Categories Index -- CSCX --gaining more than 62 points to close at 11618 Losers beat gainers as 113 issues closed lower 97 closed higher and 37 remained unchanged on the CSE The port city bourse traded 1604 million shares and mutual fund units generating a turnover of Tk 483 million Source httptodaythefinancialexpresscombdstock-corporatedse-turnover-crosses-tk-80-billion-mark-1510245247date=10-11-2017

TEN COS GRAB 32PC TURNOVER ON DSE The banking sector continued to dominate the transaction chart of the Dhaka Stock Exchange (DSE) accounting for 39 per cent of the total turnover on Thursday Four banks made their way to the top 10 turnover chart with City Bank leading the chart for the second day in a row Brokers said the investors chased the banking sector issues as more than 63 per cent of listed banks showed positive earnings in the third quarter (July-September period) Meanwhile top 10 traded companies including four banks grabbed more than 32 per cent of turnover on the Dhaka bourse The total turnover on the premier bourse reached Tk 870 billion up 14 per cent from the previous days Tk 765 billion The most active shares in terms of value included City Bank Dhaka Bank LankaBangla Finance Brac Bank Keya Cosmetics Square Pharmaceuticals Beximco Pharmaceuticals IFAD Autos Exim Bank and IDLC Finance According to statistics available with the DSE about 1035 million shares of City Bank were traded generating a turnover of Tk 553 million or 635 per cent of the total transactions

Daily News Flash 12th November 2017

34

The companys share price hovered between Tk 5240 and Tk 5440 before closing at Tk 5390 advancing 228 per cent over the previous session Dhaka Bank came in next with shares of Tk 395 million changing hands contributing 454 per cent to the total turnover The banks share price closed 347 per cent higher at Tk 2380 LankaBangla notched the third spot with shares of Tk 266 million changing hands making up 305 per cent of the total turnover Its share price ended 063 per cent higher at Tk 6430 Brac Bank emerged the fourth with shares of Tk 257 million changing hands grabbing 295 per cent of the total turnover The banks share price settled 123 per cent higher at Tk 107 Keya Cosmetics featured a turnover of Tk 247 million or 284 per cent of the total turnover Its share price closed 201 per cent higher at Tk 1520 The turnover of Square Pharma was Tk 241 million or 276 per cent of the total transaction Its share price ended 612 per cent down at Tk 27890 Beximco Pharma featured a turnover of Tk 211 million or 242 per cent of the total turnover Its share price advanced 428 per cent to close at Tk 10960 The turnover of IFAD was Tk 208 million accounting for 238 per cent of the total turnover Its share price closed at Tk 14070 gaining 195 per cent Exim Bank featured a turnover of Tk 196 million or 225 per cent of the total transaction The banks share price inched up 055 per cent to close at Tk 1830 IDLC also made its way to the top ten turnover chart with shares of Tk 188 million changing hands Its share price closed 223 per cent higher at Tk 9150 Source httptodaythefinancialexpresscombdstock-corporateten-cos-grab-32pc-turnover-on-dse-1510245290date=10-11-2017

FOREIGN INVESTMENT HIKE INFO DRIVES MODERATE GAINS ON DSE The Dhaka bourse Thursday closed the session posting a moderate rise in the broad index and turnover amid mixed performance displayed by major sectors On the day most of the major sectors declined but the turnover crossed Tk 80 billion-mark after two sessions on Dhaka Stock Exchange (DSE) mainly because of investors increased participation in the banking sector According to a market review of International Leasing Securities positive momentum in some big-cap stocks especially from bank food and engineering sectors helped the bourse to close in green The market started the session with a positive note and the DSE broad index DSEX witnessed little ups and downs before closing higher According to AT Capital Partners the market remained sideways till the midsession The DSEX rose again in the second half of the session and closed at 61936 up by 345 points The shariah based index DSES and blue chip index DS30 also rose marginally The turnover stood at above Tk 870 billion which was 1370 per cent higher than the turnover of the previous session The confident drive was initiated by the investors buying spree riding on the news of doubling net foreign investment in stocks year-on-year in the first ten months of 2017 said the International Leasing SecuritiesAmong the gaining sectors bank advanced 08 per cent and engineering 03 per cent Of the losing sectors pharmaceuticals amp chemicals declined 11 per cent telecommunication 05 per cent and textiles 09 per cent The banking sector grabbed 384 per cent of the market turnover at the premier bourse DSECity Bank topped the turnover chart with a value of Tk 553 million followed by Dhaka Bank LankaBangla Finance BRAC Bank and Keya CosmeticsReckitt Benckiser (Bd) limited topped the gainers chart with a rise of 624 per cent to close at Tk 18456 while Quasem Drycells was the worst loser after declining 1235 per cent to close at Tk 8230 Source httptodaythefinancialexpresscombdstock-corporateforeign-investment-hike-info-drives-moderate-gains-on-dse-1510245365date=10-11-2017

Daily News Flash 12th November 2017

35

MORE JAPANESE COMPANIES SEEK TO INVEST IN BANGLADESH Japanese Ambassador to Bangladesh Hiroyasu Izumi has said the Japanese investors are keen to invest in Bangladesh considering the lucrative offer and ideal atmosphere for foreign investment reports BSS The Japanese investors expressed more interest to invest in Bangladesh at recently-held the third round of Public-Private Economic Dialogue between Bangladesh and Japan he said while visiting the Chittagong Export Processing Zone (CEPZ) on Thursday The envoy expressed the hopes that Japanese investment in the Export Processing Zones (EPZs) will increase after the successful dialogue said a press release More and more Japanese companies will come to invest in this country he added General Manager of CEPZ Khorshid Alam maed a PowerPoint presentation highlighting the overall scenario of EPZ as well as Bangladesh Export Processing Zone Authority (BEPZA) Mentioning Bangladesh EPZs as the Bonanza for Investors he said investors from 38 countries have set up industries in the EPZs and invested US $442 billion He informed the ambassador that BEPZA has ensured three layer security system including 24-hour CCTV surveillance in the key points of EPZ and factory premises for the safety of the investors Source httptodaythefinancialexpresscombdtrade-marketmore-japanese-companies-seek-to-invest-in-bangladesh-1510250285date=10-11-2017

Source httpwwwarthosuchakcomarchives388209

১৬০

১১৫ ৪ ৫ ১০ ২০

৩০ ( )

( )

৩০ ২০১৭ ১৫

৩ ও ১২

২ ১৪ ( ) ৩৪

২৪

Source httpwwwarthosuchakcomarchives388257

Daily News Flash 12th November 2017

36

৫৩ ( ) ১৫ ও ২

১ ১ ৪৩ ২১০ ৫৩ ৪৪

৩২ ৫০

৮ ৫৮

২০

১ ২৪

৯ ২৭ ৫৫৫ ৯ ৩৮

-

Source httpwwwarthosuchakcomarchives388125

৩৫ ( ) ৩৫

২৪৫ ৩

১৭ ১১৯ ২১

ও - ১১

৯ ৬ - ৫ ৪

- ও ২

ও ১

Source httpwwwarthosuchakcomarchives388085

- ফ ৪০ ও - ৪০

৬ ( ) ৫ ৯ ৫ ৪৯২ ১১

৫৬ ৪৫১ ২৯

১২ ( ও)

( )

-

- ১০

( ও) ৮০

৪৯ ৩৭ ৯৮

ও ১৭ ১২ ঋ ও

১০ ও ৩ ১০

৩০ ২০১৬ ৩৫ ৬৩

৫ ( ) ৩ ৪৯

Daily News Flash 12th November 2017

37

Source httpwwwarthosuchakcomarchives387762

lsquo rsquo

( )

lsquo - rsquo

( ) ও

২০০২ ( ২ )

৫৪৬

ও ১৫

ও ১৫ ৭৫ ও

১০-১২ ১

১৫৫ ৬৭

ও ২০১০

ও ও ও -

ঋ ঋ

১৫ ৪ ৩

২ ২ ৪ ১৫ ৬

( )

Source httpwwwarthosuchakcomarchives388276

- ও ও

Daily News Flash 12th November 2017

38

৩৮ ও ৪৩

১০০ ৬১ ৫৮ ২২৫ ১ ০৫

Source httpwwwarthosuchakcomarchives387849

- ও ( -২)

৬ ও

ও ৫ ৩০০

ও ও

৭ ২০০

( ও )

ও ও

ও ও

২ - ও mdashlsquo

rsquo ও

-

৫ ৩০০

- ১০ - ৪২৯ -

৩২৮

- ১০

( )

২০১৪

( ও) ও ( )

( )

২ ও ও

ও ও ও

ও ২০১১- ও

ও ( )

Daily News Flash 12th November 2017

39

(১০ ) ৫ ৭৬৩

৬৩ ও

ও ( )

- ২০১৪ ও

ও ও

Source httpwwwprothom-alocomeconomyarticle1362971

ও ও

ও - ও

২০১৬-১৭ ২০ ও

ও ও lsquo rsquo

ও ১০ ও

৭৭ ২০১৭

১৬ ২৭ ও

২০১৬-২০১৭ ২০ lsquo rsquo

ও-

ও ও ও

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564382

ফ ( ও) ১১

ও ও

ও lsquo১১ ও rsquo

১০ ১৩

( ) ( )

Daily News Flash 12th November 2017

40

- ও

-

( )

( )

lsquo ও

rsquo ও

২৬ ১০

১৬

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564383

১ ৫০

ও ২০৫০

২৩

১৬ ৫৯ ২০১১

২০৩০

( )

ঋ ও ও

৬৮ ৬৭

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564384

ফ lsquo

ও ও

( ) ও

- ও

( ও ) ( )

Daily News Flash 12th November 2017

41

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564388

৪৫ ও

৮৪ ৮৩

৯২০

২৭ ২৪ ৭ ৩

৬ ৮৯

৯ ১ ৭২ ১৪ ৪৮

৪৫

ও ১৭ ৫০

১৯৩ ১০ ২০১৫-১৬ ৪১৩ ১০ ও ও

২০১৪-১৫ ৩৭৫ ৮০ ৩৫ ৭০

২০১৩-১৪ ৫১৫ ও

৮১ ২ ৫১ ৩ ২০

২ ও

৮৪

৮১

- ও

৮৩

৮২ ৯৫

ও ও - ও

ও ও ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17112200 - - - -

ও ৫০

ও ( ) ( )

ও ও

Daily News Flash 12th November 2017

42

ও ও

১০০

৮ ও

৩০০ ( )

ও ১৫০

২০০ ১০০

২০০

২৭ ৭

ও ও

ও ৩০ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111811 - - - -

-

২৭ ১১

১০

( ) ২৮৪

৬ ২৮ ৭ ১৫১

৭৪

ও - ও

ও - ও

ও ৩

৭ ১ ২৩

৯৪৪ ৮৮২ ১০

ও ৪ ৭ ও

৪ ৩৮ ও ১৫ ৪১ ২২ ৭০

২০ ৩৬ ১৩ ও

৪৬ ২২ ২০ ও

১৭ ৩৭১ ও ও

১৭ ও ৪৩ ও

Daily News Flash 12th November 2017

43

৬ ২০ ও ১৬

৩৫ ২০ ২৭

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111810 - - - - -

ও ও

১৩০ ও ১৪০

৫৫ ও ৯৭ ১১৩

৩৭

৩৪

৬১৯৩ ৬২ ১১৬১৭

৩০ ১৯

ও ও

ও - ও

৪৮ ৩১

১২ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111808 - - - - -

৩৫ ও ১০

ও ( ) ও

১০

ও ও -

২ ৩০০

২০১৪ ও

ও ৭ ২০১৪ ও ২০১৫

৫ ৭ ও ১২ ৮ ২৩

২০১৩ ১ ৪২০ ২০১৪ ১০ ৫ ১ ৫৭০

১৩ ৪ ও ১ ৩৫৮ ১০

২০১৬ ও ৩ ৫ ১ ৩১০ ২০১৪

২০১৬ mdash ২ ১ ঋ

১০ ও ২০১৩

২৯ ৮০ ২০১৪ ৫ ৭ ৩১ ৫০ ২০১৫

১২ ৩৫ ৩০ ২০১৬ ৭ ৩৭ ৮০

Daily News Flash 12th November 2017

44

২০১৪ ২০১৬

৩২ ৩৫ ও ৫০ ১৯

৫৬

১৭ ৪৬ ২০১৪ ২০১৬

৭২ ১০০ ও ১১১

২০১৪ ২০১৬ ১৫ ৬৩

৯১ ১১৪ ও ১১৮ ৮ ২৩

৮০ ৯০ ও

ও -

ও -

ও ও ও

১০ ও

১০ ও ২২

৭১ ১২ ৪২

৩২ ২৬ ও

ও ও

( ) ও

ও ২০২১ ও ও

৫ ১ ১৬

ও ও

Source httpbonikbartanetbanglanews2017-11-12137992 - - -- -

৫০০ ৫০০ ও

ও ৩০ ২০১৭

৫০০ ও ঋ ২০১৮

৩০

১ ২০ ও ১৫০

১১

Daily News Flash 12th November 2017

45

৩০০ ৬০০

( ) ও

১ ২৫ ও ১০

১০ ও

ঋ ও

৩০ ২০১৭ ৩ ও ১২ ও

( ) ২ ১৪ ২ ১

ও ৩০ ১১

( ) ও ও

( - ) ৬৬ ৫৫ ৩০

( ) ৩৪ ৯০

ও ও ও

( ) ও

ও ও ২০১৫ ৩০ ১০ ২০১৬

১২

( ) ৪১ ২০ ও ২৩ ৬০

৫০ ও

২০১৪ ৩০০ ও ১৪৮ ৪৬ ৫০

১৯১ ৬২ ৩৭ ৩১

১২ ৪৫ ৫০ ২৪

ও ( ) ১৬ ৫৩

ও ১৫ ২২

Source httpbonikbartanetbanglanews2017-11-12137966৫০০- - - - -ও -

৬৩

- ও ও

৬২ ৯৪ ৫

৬২

৯০

২০১৪ - -

- ও

২০১৬-১৭ ৫ ৬২ ও ২০১৩-১৪

১২

( ) ৯০

-

ও - - ও -

Daily News Flash 12th November 2017

46

- ও

৬২ ৯৪

২০১৩-১৪ ৭০ ৭৮ ২০১৪-১৫ ৫৪ ২২

২০১৫-১৬ ৩৯ ৩৩ ও ২৬ ২৩

ও ২০১৩-১৪

১২ ৩৬ ২০১৪-১৫ ৫ ৯১ ও ২০১৫-

১৬ ১৭ ৩০ ৫ ৬২

৩০ ২০১৭ ১০

২ ৮৬ ও ৩

ও ২৪ ( )

২৭

১৯৬৪ ১২

৪ ও ও ১৯৭২

ও ( )

ও ৩৪ ৮ ও

৯০

৪৫ ও ৫

১৯৬৪ ১৯৭২ ১৯৮৯

১০০ ও ২৬ ১৬ ২০ ৫৪৩ ৭৭

৫ - ৫১ ১৫ ৬০ ও

৩২ ৯০

Source httpbonikbartanetbanglanews2017-11-11137853 - - - - - -৬৩---

( ) ও

১০

ও ও ও

-

ও ও

ও ঋ ও

ও ২০১৪ ও

ও ও

২০১৩

( ) ও

Daily News Flash 12th November 2017

47

২০১৪

২০১৪-১৬ ও

২০১৪

ও ২০১৪

২০১৫ ২৭ lsquo ও rsquo

ও ও

২০১৬ ২৪

( )

ও ও

- ও

ও ও ১৯৮৩ ২০১৬

ঋ ( ) ৫৬০

৮৬৪

২০১৬ ২০১৯ ও

ও ১৫ ২৫ ৩০ ও ৩০

ও ঋ ও

২০১৬ ঋ ১

৩৪২ ঋ ৬ ৫২ ১২৩

ঋ ২ ৪৪৩ ঋ ১০

৮৪ ঋ ৪০

৭২৬

ও ২০১৬ ৭৪১

৪৫৭

২০৭ ২৪৪

১০ ও

ও ও ও ও ও

Daily News Flash 12th November 2017

48

Source httpbonikbartanetbanglanews2017-11-12137998 - - - - - ও- -

( )

৩০ ২০১৭ ২০

( ) ২ ১ ১ ৫৯ (

) ৩০ ( ) ১৫ ৩৭

ও ২৮ ১১

( ) ২৮

২০১৬ ৩০ ১৮ ২০

২০১৪ ও ২০

১৫ ৩০

১৮ ৮০ ও ৯ ৬০

Source httpbonikbartanetbanglanews2017-11-11137850 - - - -

ফ ৭ ২০১৭-১৮ ৭ ৩ ৭৪

( ) ও

( - ) ১ ১৫০ ৫৮

(২০১৬-১৭) ১ ৭৫ ৩ ৬০ ৭

৩ ১ ১৫৯ ২০ ৭৪

ও mdash

৬ ৬৫ ১৭ ৬৩

mdash ও ও

১৫ ৪১ ২২ ৬৯ ১০

১৯ ৬৬ ১০ ২০ ২২

mdash ও ও ও

৩৯ ৫১ ও ২ ও

১৬ ৪৬ ও ও ৬ ৯৯ ও

৩ ৮৫ ৯ ৯৫

১৯ ৮২

৮০

ও ( )

mdash

Daily News Flash 12th November 2017

49

ও ও

Source httpbonikbartanetbanglanews2017-11-10137755 - - - -৭- - --

ফ - ফ ও -ও

-ও

-ও

২৯-১০-২০১১ ৩ ( ) ২৮-১০-২০১৪

৩ ( ) ২৮-১১-২০১৬

২৮-১০-২০১৭ ৩ ( )

২০১৬-১৫৮১৩৪ ৪৪ ০৭-০৮-

২০১২ ১২(৬) ২ ( ) ৬ ( )

-ও - ও ২ ( )

৬ ( ) ও ও

-ও ৩ ( )

-

ও ও

১৯৯৪

২ ২২-০৫-২০১২ -ও ৩

- -

১৯৯৪

-ও

- ও

( )

১৯৯৪

১৯৯৪ -ও

Source httpwwwsharenews24comindexphppage=detailsampnc=1ampnews_id=6587

Daily News Flash 12th November 2017

50

ফ ফ

১৫ ও

-( ) ও

৪৯

১৬ ৮৫

৫১ ৪৯

৪ ৩৬

১৯১৩

১০০ ও ১৯০১ ১৯৬০

Source httpswwwdailystockbangladeshcom - - - -

- ( -১)

( ) ৮

৩০০ ও

( ) ১৬

- ২২৮ ৪৯ ১৮৩ ২০১৮

( ) ও

১৫০

( ) ও ৪০ ৩০

ও ও

ও ও

Source httpswwwdailystockbangladeshcom - - -

Page 29: Daily News Flash, 12th November, 2017 -  · PDF filebanglalink's revenue falls 4.57pc in q3 ... banks lack remedial strategy while npl rises worryingly

Daily News Flash 12th November 2017

29

A total of 65 exhibitors from 12 countries participated in the show while more than 12 thousand visitors from across the world registered online to attend the two-day expo organisers said Talking to the FE on the sidelines of the expo Md Khalid Mosharof assistant general manager at Dekko Group said the group invested Tk 15 million in setting up a new factory of 44 lines at Ashulia that would go for denim item production in June next The main reason is to tap the growing global demand he said Echoing him Syeed Ahmed Chowdhury general manager operation at Square Denim said the company expanded its denim fabric production capacity to 30 million yards from the existing 15 million yards per month mainly to meet the demand He however opined that the expansion is taking place more in garment segments than in fabric production There is no alternative to expansion to sustain the existing business and achieve the $50 billion garment export earnings target by 2021 Sharif Zahir managing director of Ananta Group said stressing the need for positive branding of the sector Meanwhile Landes a German denim accessories maker started production in its new factory at Savar from this month It invested US $05 million We opened the factory in Bangladesh as we think this is the hub for denim business and there is a lot of business prospects here Manfred Slowik chief operating officer of Landes told the FE at his stall at the expo By the end of next year the total workforce in our new plant will be 120 people as we are recruiting new people from existing 30 Mr Slowik said Landes has a target to produce 500 million pieces of leather patches used in denim trousers as accessories in a year at its Savar plant from where such accessories will be supplied to the whole Asian region Many big brands like HampM VF and Walmart are their customers he said Nezahat Boni senior account manager of Orta a Turkish denim maker said her company supplies 30 million metres of denim fabrics in Bangladesh in a year against only 800 meters in 2011 We opened an office in Bangladesh in 2011 as we cannot ignore the importance of this country as a denim hub she said Prosperity Textile a Chinese company opened its office in Dhaka last year said Md Mujibul Hoque the companys Bangladesh Sales Director The company has targeted sale of 100 million yards a year across the globe while it also targets 30-40 per cent of their sales in Bangladesh Bangladesh is now the top denim products supplier to the European Union overtaking China and third largest to the US after China and Mexico industry people said Bangladesh supplies denim products to major global buyers and retailers including levis G-Star Raw HampM Tesco Wrangler Hugo Boss Walmart and Gap Source httptodaythefinancialexpresscombdtrade-marketbangladesh-growing-as-denim-hub-1510332061date=11-11-2017

EXPORTS UP 70PC IN JULY-OCTOBER Countrys export earnings grew by 703 per cent to US$1150 billion during first four months of the current fiscal year (FY 2017-18) according to official data released Thursday The earnings were $1079 billion in the same period (July-October) last FY In October 2017 the exports grew by 642 per cent to $284 billion the Export Promotion Bureau (EPB) data showed The overall exports in the first four months slightly (074 per cent) fell short of the periods target In October however the exports were 628 per cent higher than the months strategic target Readymade garment shipments fetched $943 billion marking 699 per cent growth during the period as compared to $882 billion in the same period of last FY

Daily News Flash 12th November 2017

30

The woven items registered 385 per cent growth in earnings to $445 billion than that of $428 billion in the same period of FY 2016-17 The earnings from knitwear export during the period grew by 995 per cent to $498 billion from $453 billion in the corresponding period of last FY Jute and jute goods exports rose by 1646 per cent to $34501 million from $29626 million in the same period of FY17 The earnings from agriculture products grew by 2022 per cent during the period while home textiles by 2037 per cent The earnings from leather and leather products however fell marginally by 002 per cent to $42844 million during the period than that of $42851 million in the same period last FY The export earnings from frozen food and live fish grew by 1541 per cent to $22691 million from $19661 million of the corresponding period of last fiscal Mahmud Hasan Khan vice president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) said the exports in the first four months of the current fiscal year fell short of the expected growth mainly because of failure in maintaining the lead time and short supply of gas and electricity Terming the knitwears growth satisfactory he said woven items manufacturers have been struggling to cope with the new challenge as buyers were reducing the volume of orders due to failure in meeting the lead time Without efficient port and strong backward linkage industry especially for the woven sub-sector it will be difficult for the sub-sector to bounce back he feared He pointed out that maximum of the woven fabric requirements were being met through imports But it was taking too much time to clear the imported fabrics and additional charges as a result at the Chittagong seaport that was facing unbearable congestion The government should provide necessary policy support to the exporters to establish strong backward linkage industry for the woven sub-sector he added Source httptodaythefinancialexpresscombdfirst-pageexports-up-70pc-in-july-october-1510248870date=10-11-2017

GAS CRISIS HURTING OUTPUT IN INDUSTRIAL BELT Factories in the countrys Tongi-Gazipur industrial belt have been facing acute gas crisis over the past few months following diversion of gas to upstream power plants The crisis has deteriorated further this week albeit some improvements for a few days last week said local industrialists and businessmen According to them if the ongoing gas crisis persists they may be forced to shut down their factories Officials of the Titas Gas Transmission and Distribution Company Limited (TGTDCL) however blamed the Petrobangla for the gas crunch Sources concerned say the industrial belt of Tongi-Gazipur is suffering badly for about four to five months from low pressure of gas coupled with poor electricity voltage -- often resulting in huge volume of industrial wastages and reduction of production efficiency According to the industry insiders a factory in the industrial belt requires 04 PSI (production per square inch) as optimum gas pressure but the pressure at times comes down to as low as 01 PSI these days -- especially during the daytime Gas pressure in the area becomes normal around 10pm11pm and stays for not more than 08 hours until 6am7am an entrepreneur of the industrial belt informed Asked an official of Titas said they are at present getting nearly 250 million cubic meters (MCM) less in recent weeks against their current demand of 1800 MCM gas in Titas franchise The downstream Titas franchise area covers greater Dhaka region which includes Gazipur alongside some other adjoining districts and greater Mymensingh he said

Daily News Flash 12th November 2017

31

A Petrobangla source however cited gas supply on priority basis to a number of upstream projects including power plants as reason behind supply shortage When asked Managing Director of Akij Group Sk Bashir Uddin termed the situation really worrisome According to him two of Akij Group companies situated in the area -- Akij Printing amp Packages Limited and Dhaka Tobacco Industries -- jointly contributed nearly Tk 35 billion (3500 crore) to the national exchequer in the 2016-17 fiscal year But were very much worried about our industrial output this year as production disruption following the twin crises involving gas supply and power supply Both will eventually disrupt our retail business in every phase he quipped This often results in a high rate of industrial wastage and reduction of production efficiency he added Bangladesh Auto Re-rolling Steel Mills amp Association Chairman Manwar Hossain who is also Anwar Group Managing Director echoed the same concern Factories in the industrial belt are now operating at one-third of their capacity which may lead to labour unrest and default of huge sum of bank loans he said Such disruption of production he cautions may even cause sudden shutdown of factories According to him none of the victims in that case will be the wilful defaulters -- they will be the victims of circumstances The businessman who has a steel factory called Anwar Ispat Limited in the industrial belt called for immediate introduction of ECM (electronically controlled meters) to check unabated gas engineering in the area which he deems to be yet another reason for gas supply crunch Titas officials according to him are encouraging co-generation scheme to help address the severe gas crisis But he said co-generation will require stable and smooth gas supply Government should ensure at least 10-15 years of smooth gas supply to encourage co-generation as what he said any industrial investment requires 20 years of payback period TGTDCL Deputy Managing Director Engineer Abdul Wahab Talukdar who is also the Project Director of Sripur-Joydevpur Transmission Pipeline Project said We cannot do anything to address the crisis if there is a lack of adequate gas supply Mentioning that all factories in the industrial belt are like my babies he unequivocally said Titas is not at fault He also admitted that priority-based power plants gas supply being the reason behind the current spell of gas crunch We have already started introducing electronic volumetric corrector (EVC) to stop illegal gas use in the area he said Factories he added should go for co-generation scheme for protecting their own interest Co-generation means utilising and absorbing heat generated from gas generators which Mr Wahab said will save energy A section of the businessmen however called for stopping fertiliser production and distributing the same among people at a subsidised price after importing it to facilitate smooth supply of gas to other industries Even if the government stops fertiliser production and opts for importing it for distribution at a subsidised rate there will only be an insignificant loss compared to the overall losses now being incurred said an industrialist who has more than one factory in the industrial belt Local sources said illegal and unapproved gas connections in various industries in and around the zone are also affecting gas supply badly among other reasons Source httptodaythefinancialexpresscombdfirst-pagegas-crisis-hurting-output-in-industrial-belt-1510249018date=10-11-2017

Daily News Flash 12th November 2017

32

SINGLE PERSON MAY FORM COMPANY A single person may form a commercial firm under a provision of the companies law being updated along with some other major business-stimulating measures Official sources said the government is considering incorporating some new provisions including one allowing individuals to form any company into the updated Companies Act The other provisions are formation of an appellate tribunal to resolve legal matters without wasting much time widespread automation of companies work and submission of annual company reports online Earlier the Ministry of Commerce (MoC) had received some recommendations from the stakeholders on how to update the law they added We got most of the recommendations from the stakeholders We hope we will be able to prepare the draft Companies Act within a month Md Obaidul Azam director trade organisations (DTO) told the FE He said the recommendations the ministry had received so far were being scrutinised before preparing a draft for updating the companies act Earlier different trade bodies had sent their respective recommendations to the MoC for incorporation into the law The MoC will hold a meeting with the countrys apex trade body after assessing the recommendations and suggestions the ministry official said Talking to the FE a leader of an influential trade body said they had sent some recommendationssuggestions to the MoC for the new Companies Act for betterment of the countrys trade and business According to Section 2 (1) (c) of the Companies Act 1994 Company means a company formed and registered under this Act or an existing company Thus a company is an association of persons formed under the Companies Act 1994 with a view to achieving some common objectives Though a company is regarded a legal person it possesses similar rights and owes similar obligations like a natural person Now any individual fulfilling the new criteria may be allowed to form a firm Source httptodaythefinancialexpresscombdfirst-pagesingle-person-may-form-company-1510249090date=10-11-2017

DSE TURNOVER CROSSES TK 80 BILLION MARK The daily turnover on Dhaka Stock Exchange (DSE) exceeded the Tk 80 billion mark on Thursday as investors took fresh exposure to the banking sector Turnover a crucial indicator of the market reached Tk 870 billion on the countrys premier bourse jumping 14 per cent from the previous days transaction of Tk 765 billion It was the biggest single-day transaction since October 11 when the turnover totalled a record Tk 1092 billion Along with rising turnover DSEX the prime index of the Dhaka bourse continued to keep its gaining momentum closing 3449 points higher at 6193 points DSEX which replaced the DGEN in nearly five years back added more than 121 points or 20 per cent in the past four consecutive sessions The two other indices -- the DS30 index and the DSE Shariah Index (DSES) -- also followed suit to end at 2244 and 1341 points after gaining 1422 points and 443 points respectively Brokers said the market maintained the bullish trend for the four straight sessions as the enthusiastic investors chased the banking sector stocks The market continued the bullish trend for the four consecutive sessions as the enthusiastic investors were active for the banking food and engineering sector stocks commented EBL Securities a stockbroker in its regular market analysis

Daily News Flash 12th November 2017

33

It noted that the core index remained positive throughout the session as optimistic investors kept buying sector-wise stocks while some rebalanced their portfolios Meanwhile share price of newly listed Oimex Electrode continued to decline for the three consecutive sessions after unusual hike during its debut trading on Monday The companys share price fell 763 per cent to close at Tk 9810 on Thursday after jumping more than tenfold during the debut trading which experts termed unusual Block trade contributed Tk 241 million to the days total turnover with stocks like BATBC Square Pharmaceuticals Singer Bangladesh and Beximco Pharma dominating the block trade board Among the major sectors pharmaceuticals posted the highest gain of 122 per cent followed by banking sector (083 per cent) food amp allied (067 per cent) engineering (033 per cent) financial institutions (003 per cent) and power (003 per cent) Only telecommunication sector faced a 045 per cent correction A total number of 0140 million trades were executed in the days trading session with trading volume totalling 23171 million securities The total market capitalisation of the DSE stood at Tk 4179 billion against Tk 4168 billion in the previous session Losers however took a modest lead over the gainers as out of 325 issues traded 140 closed lower 130 closed higher and 55 remained unchanged on the DSE trading floor City Bank dominated the turnover chart for the second day in a row with 1035 million shares changing hands closely followed by Dhaka Bank LankaBangla Finance Brac Bank and Keya Cosmetics Reckitt Benckiser was also the days best performer posting a gain of 624 per cent while Qasem Drycells was the days biggest loser shedding 1235 per cent The port city bourse Chittagong Stock Exchange (CSE) also ended higher with its Selective Categories Index -- CSCX --gaining more than 62 points to close at 11618 Losers beat gainers as 113 issues closed lower 97 closed higher and 37 remained unchanged on the CSE The port city bourse traded 1604 million shares and mutual fund units generating a turnover of Tk 483 million Source httptodaythefinancialexpresscombdstock-corporatedse-turnover-crosses-tk-80-billion-mark-1510245247date=10-11-2017

TEN COS GRAB 32PC TURNOVER ON DSE The banking sector continued to dominate the transaction chart of the Dhaka Stock Exchange (DSE) accounting for 39 per cent of the total turnover on Thursday Four banks made their way to the top 10 turnover chart with City Bank leading the chart for the second day in a row Brokers said the investors chased the banking sector issues as more than 63 per cent of listed banks showed positive earnings in the third quarter (July-September period) Meanwhile top 10 traded companies including four banks grabbed more than 32 per cent of turnover on the Dhaka bourse The total turnover on the premier bourse reached Tk 870 billion up 14 per cent from the previous days Tk 765 billion The most active shares in terms of value included City Bank Dhaka Bank LankaBangla Finance Brac Bank Keya Cosmetics Square Pharmaceuticals Beximco Pharmaceuticals IFAD Autos Exim Bank and IDLC Finance According to statistics available with the DSE about 1035 million shares of City Bank were traded generating a turnover of Tk 553 million or 635 per cent of the total transactions

Daily News Flash 12th November 2017

34

The companys share price hovered between Tk 5240 and Tk 5440 before closing at Tk 5390 advancing 228 per cent over the previous session Dhaka Bank came in next with shares of Tk 395 million changing hands contributing 454 per cent to the total turnover The banks share price closed 347 per cent higher at Tk 2380 LankaBangla notched the third spot with shares of Tk 266 million changing hands making up 305 per cent of the total turnover Its share price ended 063 per cent higher at Tk 6430 Brac Bank emerged the fourth with shares of Tk 257 million changing hands grabbing 295 per cent of the total turnover The banks share price settled 123 per cent higher at Tk 107 Keya Cosmetics featured a turnover of Tk 247 million or 284 per cent of the total turnover Its share price closed 201 per cent higher at Tk 1520 The turnover of Square Pharma was Tk 241 million or 276 per cent of the total transaction Its share price ended 612 per cent down at Tk 27890 Beximco Pharma featured a turnover of Tk 211 million or 242 per cent of the total turnover Its share price advanced 428 per cent to close at Tk 10960 The turnover of IFAD was Tk 208 million accounting for 238 per cent of the total turnover Its share price closed at Tk 14070 gaining 195 per cent Exim Bank featured a turnover of Tk 196 million or 225 per cent of the total transaction The banks share price inched up 055 per cent to close at Tk 1830 IDLC also made its way to the top ten turnover chart with shares of Tk 188 million changing hands Its share price closed 223 per cent higher at Tk 9150 Source httptodaythefinancialexpresscombdstock-corporateten-cos-grab-32pc-turnover-on-dse-1510245290date=10-11-2017

FOREIGN INVESTMENT HIKE INFO DRIVES MODERATE GAINS ON DSE The Dhaka bourse Thursday closed the session posting a moderate rise in the broad index and turnover amid mixed performance displayed by major sectors On the day most of the major sectors declined but the turnover crossed Tk 80 billion-mark after two sessions on Dhaka Stock Exchange (DSE) mainly because of investors increased participation in the banking sector According to a market review of International Leasing Securities positive momentum in some big-cap stocks especially from bank food and engineering sectors helped the bourse to close in green The market started the session with a positive note and the DSE broad index DSEX witnessed little ups and downs before closing higher According to AT Capital Partners the market remained sideways till the midsession The DSEX rose again in the second half of the session and closed at 61936 up by 345 points The shariah based index DSES and blue chip index DS30 also rose marginally The turnover stood at above Tk 870 billion which was 1370 per cent higher than the turnover of the previous session The confident drive was initiated by the investors buying spree riding on the news of doubling net foreign investment in stocks year-on-year in the first ten months of 2017 said the International Leasing SecuritiesAmong the gaining sectors bank advanced 08 per cent and engineering 03 per cent Of the losing sectors pharmaceuticals amp chemicals declined 11 per cent telecommunication 05 per cent and textiles 09 per cent The banking sector grabbed 384 per cent of the market turnover at the premier bourse DSECity Bank topped the turnover chart with a value of Tk 553 million followed by Dhaka Bank LankaBangla Finance BRAC Bank and Keya CosmeticsReckitt Benckiser (Bd) limited topped the gainers chart with a rise of 624 per cent to close at Tk 18456 while Quasem Drycells was the worst loser after declining 1235 per cent to close at Tk 8230 Source httptodaythefinancialexpresscombdstock-corporateforeign-investment-hike-info-drives-moderate-gains-on-dse-1510245365date=10-11-2017

Daily News Flash 12th November 2017

35

MORE JAPANESE COMPANIES SEEK TO INVEST IN BANGLADESH Japanese Ambassador to Bangladesh Hiroyasu Izumi has said the Japanese investors are keen to invest in Bangladesh considering the lucrative offer and ideal atmosphere for foreign investment reports BSS The Japanese investors expressed more interest to invest in Bangladesh at recently-held the third round of Public-Private Economic Dialogue between Bangladesh and Japan he said while visiting the Chittagong Export Processing Zone (CEPZ) on Thursday The envoy expressed the hopes that Japanese investment in the Export Processing Zones (EPZs) will increase after the successful dialogue said a press release More and more Japanese companies will come to invest in this country he added General Manager of CEPZ Khorshid Alam maed a PowerPoint presentation highlighting the overall scenario of EPZ as well as Bangladesh Export Processing Zone Authority (BEPZA) Mentioning Bangladesh EPZs as the Bonanza for Investors he said investors from 38 countries have set up industries in the EPZs and invested US $442 billion He informed the ambassador that BEPZA has ensured three layer security system including 24-hour CCTV surveillance in the key points of EPZ and factory premises for the safety of the investors Source httptodaythefinancialexpresscombdtrade-marketmore-japanese-companies-seek-to-invest-in-bangladesh-1510250285date=10-11-2017

Source httpwwwarthosuchakcomarchives388209

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Source httpwwwarthosuchakcomarchives388257

Daily News Flash 12th November 2017

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Source httpwwwarthosuchakcomarchives388125

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Source httpwwwarthosuchakcomarchives388085

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Daily News Flash 12th November 2017

37

Source httpwwwarthosuchakcomarchives387762

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Source httpwwwarthosuchakcomarchives388276

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Daily News Flash 12th November 2017

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Source httpwwwarthosuchakcomarchives387849

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Daily News Flash 12th November 2017

39

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Source httpwwwprothom-alocomeconomyarticle1362971

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Source httpwwwkalerkanthocomprint-editionindustry-business20171112564382

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Daily News Flash 12th November 2017

40

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Source httpwwwkalerkanthocomprint-editionindustry-business20171112564383

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Source httpwwwkalerkanthocomprint-editionindustry-business20171112564384

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Daily News Flash 12th November 2017

41

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564388

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Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17112200 - - - -

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Daily News Flash 12th November 2017

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Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111811 - - - -

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Daily News Flash 12th November 2017

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৬ ২০ ও ১৬

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Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111810 - - - - -

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Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111808 - - - - -

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Daily News Flash 12th November 2017

44

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Source httpbonikbartanetbanglanews2017-11-12137992 - - -- -

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Daily News Flash 12th November 2017

45

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১২ ৪৫ ৫০ ২৪

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Source httpbonikbartanetbanglanews2017-11-12137966৫০০- - - - -ও -

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Daily News Flash 12th November 2017

46

- ও

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২০১৩-১৪ ৭০ ৭৮ ২০১৪-১৫ ৫৪ ২২

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১২ ৩৬ ২০১৪-১৫ ৫ ৯১ ও ২০১৫-

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৫ - ৫১ ১৫ ৬০ ও

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Source httpbonikbartanetbanglanews2017-11-11137853 - - - - - -৬৩---

( ) ও

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Daily News Flash 12th November 2017

47

২০১৪

২০১৪-১৬ ও

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ও ২০১৪

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Daily News Flash 12th November 2017

48

Source httpbonikbartanetbanglanews2017-11-12137998 - - - - - ও- -

( )

৩০ ২০১৭ ২০

( ) ২ ১ ১ ৫৯ (

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২০১৪ ও ২০

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১৮ ৮০ ও ৯ ৬০

Source httpbonikbartanetbanglanews2017-11-11137850 - - - -

ফ ৭ ২০১৭-১৮ ৭ ৩ ৭৪

( ) ও

( - ) ১ ১৫০ ৫৮

(২০১৬-১৭) ১ ৭৫ ৩ ৬০ ৭

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ও mdash

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৩ ৮৫ ৯ ৯৫

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Daily News Flash 12th November 2017

49

ও ও

Source httpbonikbartanetbanglanews2017-11-10137755 - - - -৭- - --

ফ - ফ ও -ও

-ও

-ও

২৯-১০-২০১১ ৩ ( ) ২৮-১০-২০১৪

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২০১২ ১২(৬) ২ ( ) ৬ ( )

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১৯৯৪

১৯৯৪ -ও

Source httpwwwsharenews24comindexphppage=detailsampnc=1ampnews_id=6587

Daily News Flash 12th November 2017

50

ফ ফ

১৫ ও

-( ) ও

৪৯

১৬ ৮৫

৫১ ৪৯

৪ ৩৬

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১০০ ও ১৯০১ ১৯৬০

Source httpswwwdailystockbangladeshcom - - - -

- ( -১)

( ) ৮

৩০০ ও

( ) ১৬

- ২২৮ ৪৯ ১৮৩ ২০১৮

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ও ও

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Source httpswwwdailystockbangladeshcom - - -

Page 30: Daily News Flash, 12th November, 2017 -  · PDF filebanglalink's revenue falls 4.57pc in q3 ... banks lack remedial strategy while npl rises worryingly

Daily News Flash 12th November 2017

30

The woven items registered 385 per cent growth in earnings to $445 billion than that of $428 billion in the same period of FY 2016-17 The earnings from knitwear export during the period grew by 995 per cent to $498 billion from $453 billion in the corresponding period of last FY Jute and jute goods exports rose by 1646 per cent to $34501 million from $29626 million in the same period of FY17 The earnings from agriculture products grew by 2022 per cent during the period while home textiles by 2037 per cent The earnings from leather and leather products however fell marginally by 002 per cent to $42844 million during the period than that of $42851 million in the same period last FY The export earnings from frozen food and live fish grew by 1541 per cent to $22691 million from $19661 million of the corresponding period of last fiscal Mahmud Hasan Khan vice president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) said the exports in the first four months of the current fiscal year fell short of the expected growth mainly because of failure in maintaining the lead time and short supply of gas and electricity Terming the knitwears growth satisfactory he said woven items manufacturers have been struggling to cope with the new challenge as buyers were reducing the volume of orders due to failure in meeting the lead time Without efficient port and strong backward linkage industry especially for the woven sub-sector it will be difficult for the sub-sector to bounce back he feared He pointed out that maximum of the woven fabric requirements were being met through imports But it was taking too much time to clear the imported fabrics and additional charges as a result at the Chittagong seaport that was facing unbearable congestion The government should provide necessary policy support to the exporters to establish strong backward linkage industry for the woven sub-sector he added Source httptodaythefinancialexpresscombdfirst-pageexports-up-70pc-in-july-october-1510248870date=10-11-2017

GAS CRISIS HURTING OUTPUT IN INDUSTRIAL BELT Factories in the countrys Tongi-Gazipur industrial belt have been facing acute gas crisis over the past few months following diversion of gas to upstream power plants The crisis has deteriorated further this week albeit some improvements for a few days last week said local industrialists and businessmen According to them if the ongoing gas crisis persists they may be forced to shut down their factories Officials of the Titas Gas Transmission and Distribution Company Limited (TGTDCL) however blamed the Petrobangla for the gas crunch Sources concerned say the industrial belt of Tongi-Gazipur is suffering badly for about four to five months from low pressure of gas coupled with poor electricity voltage -- often resulting in huge volume of industrial wastages and reduction of production efficiency According to the industry insiders a factory in the industrial belt requires 04 PSI (production per square inch) as optimum gas pressure but the pressure at times comes down to as low as 01 PSI these days -- especially during the daytime Gas pressure in the area becomes normal around 10pm11pm and stays for not more than 08 hours until 6am7am an entrepreneur of the industrial belt informed Asked an official of Titas said they are at present getting nearly 250 million cubic meters (MCM) less in recent weeks against their current demand of 1800 MCM gas in Titas franchise The downstream Titas franchise area covers greater Dhaka region which includes Gazipur alongside some other adjoining districts and greater Mymensingh he said

Daily News Flash 12th November 2017

31

A Petrobangla source however cited gas supply on priority basis to a number of upstream projects including power plants as reason behind supply shortage When asked Managing Director of Akij Group Sk Bashir Uddin termed the situation really worrisome According to him two of Akij Group companies situated in the area -- Akij Printing amp Packages Limited and Dhaka Tobacco Industries -- jointly contributed nearly Tk 35 billion (3500 crore) to the national exchequer in the 2016-17 fiscal year But were very much worried about our industrial output this year as production disruption following the twin crises involving gas supply and power supply Both will eventually disrupt our retail business in every phase he quipped This often results in a high rate of industrial wastage and reduction of production efficiency he added Bangladesh Auto Re-rolling Steel Mills amp Association Chairman Manwar Hossain who is also Anwar Group Managing Director echoed the same concern Factories in the industrial belt are now operating at one-third of their capacity which may lead to labour unrest and default of huge sum of bank loans he said Such disruption of production he cautions may even cause sudden shutdown of factories According to him none of the victims in that case will be the wilful defaulters -- they will be the victims of circumstances The businessman who has a steel factory called Anwar Ispat Limited in the industrial belt called for immediate introduction of ECM (electronically controlled meters) to check unabated gas engineering in the area which he deems to be yet another reason for gas supply crunch Titas officials according to him are encouraging co-generation scheme to help address the severe gas crisis But he said co-generation will require stable and smooth gas supply Government should ensure at least 10-15 years of smooth gas supply to encourage co-generation as what he said any industrial investment requires 20 years of payback period TGTDCL Deputy Managing Director Engineer Abdul Wahab Talukdar who is also the Project Director of Sripur-Joydevpur Transmission Pipeline Project said We cannot do anything to address the crisis if there is a lack of adequate gas supply Mentioning that all factories in the industrial belt are like my babies he unequivocally said Titas is not at fault He also admitted that priority-based power plants gas supply being the reason behind the current spell of gas crunch We have already started introducing electronic volumetric corrector (EVC) to stop illegal gas use in the area he said Factories he added should go for co-generation scheme for protecting their own interest Co-generation means utilising and absorbing heat generated from gas generators which Mr Wahab said will save energy A section of the businessmen however called for stopping fertiliser production and distributing the same among people at a subsidised price after importing it to facilitate smooth supply of gas to other industries Even if the government stops fertiliser production and opts for importing it for distribution at a subsidised rate there will only be an insignificant loss compared to the overall losses now being incurred said an industrialist who has more than one factory in the industrial belt Local sources said illegal and unapproved gas connections in various industries in and around the zone are also affecting gas supply badly among other reasons Source httptodaythefinancialexpresscombdfirst-pagegas-crisis-hurting-output-in-industrial-belt-1510249018date=10-11-2017

Daily News Flash 12th November 2017

32

SINGLE PERSON MAY FORM COMPANY A single person may form a commercial firm under a provision of the companies law being updated along with some other major business-stimulating measures Official sources said the government is considering incorporating some new provisions including one allowing individuals to form any company into the updated Companies Act The other provisions are formation of an appellate tribunal to resolve legal matters without wasting much time widespread automation of companies work and submission of annual company reports online Earlier the Ministry of Commerce (MoC) had received some recommendations from the stakeholders on how to update the law they added We got most of the recommendations from the stakeholders We hope we will be able to prepare the draft Companies Act within a month Md Obaidul Azam director trade organisations (DTO) told the FE He said the recommendations the ministry had received so far were being scrutinised before preparing a draft for updating the companies act Earlier different trade bodies had sent their respective recommendations to the MoC for incorporation into the law The MoC will hold a meeting with the countrys apex trade body after assessing the recommendations and suggestions the ministry official said Talking to the FE a leader of an influential trade body said they had sent some recommendationssuggestions to the MoC for the new Companies Act for betterment of the countrys trade and business According to Section 2 (1) (c) of the Companies Act 1994 Company means a company formed and registered under this Act or an existing company Thus a company is an association of persons formed under the Companies Act 1994 with a view to achieving some common objectives Though a company is regarded a legal person it possesses similar rights and owes similar obligations like a natural person Now any individual fulfilling the new criteria may be allowed to form a firm Source httptodaythefinancialexpresscombdfirst-pagesingle-person-may-form-company-1510249090date=10-11-2017

DSE TURNOVER CROSSES TK 80 BILLION MARK The daily turnover on Dhaka Stock Exchange (DSE) exceeded the Tk 80 billion mark on Thursday as investors took fresh exposure to the banking sector Turnover a crucial indicator of the market reached Tk 870 billion on the countrys premier bourse jumping 14 per cent from the previous days transaction of Tk 765 billion It was the biggest single-day transaction since October 11 when the turnover totalled a record Tk 1092 billion Along with rising turnover DSEX the prime index of the Dhaka bourse continued to keep its gaining momentum closing 3449 points higher at 6193 points DSEX which replaced the DGEN in nearly five years back added more than 121 points or 20 per cent in the past four consecutive sessions The two other indices -- the DS30 index and the DSE Shariah Index (DSES) -- also followed suit to end at 2244 and 1341 points after gaining 1422 points and 443 points respectively Brokers said the market maintained the bullish trend for the four straight sessions as the enthusiastic investors chased the banking sector stocks The market continued the bullish trend for the four consecutive sessions as the enthusiastic investors were active for the banking food and engineering sector stocks commented EBL Securities a stockbroker in its regular market analysis

Daily News Flash 12th November 2017

33

It noted that the core index remained positive throughout the session as optimistic investors kept buying sector-wise stocks while some rebalanced their portfolios Meanwhile share price of newly listed Oimex Electrode continued to decline for the three consecutive sessions after unusual hike during its debut trading on Monday The companys share price fell 763 per cent to close at Tk 9810 on Thursday after jumping more than tenfold during the debut trading which experts termed unusual Block trade contributed Tk 241 million to the days total turnover with stocks like BATBC Square Pharmaceuticals Singer Bangladesh and Beximco Pharma dominating the block trade board Among the major sectors pharmaceuticals posted the highest gain of 122 per cent followed by banking sector (083 per cent) food amp allied (067 per cent) engineering (033 per cent) financial institutions (003 per cent) and power (003 per cent) Only telecommunication sector faced a 045 per cent correction A total number of 0140 million trades were executed in the days trading session with trading volume totalling 23171 million securities The total market capitalisation of the DSE stood at Tk 4179 billion against Tk 4168 billion in the previous session Losers however took a modest lead over the gainers as out of 325 issues traded 140 closed lower 130 closed higher and 55 remained unchanged on the DSE trading floor City Bank dominated the turnover chart for the second day in a row with 1035 million shares changing hands closely followed by Dhaka Bank LankaBangla Finance Brac Bank and Keya Cosmetics Reckitt Benckiser was also the days best performer posting a gain of 624 per cent while Qasem Drycells was the days biggest loser shedding 1235 per cent The port city bourse Chittagong Stock Exchange (CSE) also ended higher with its Selective Categories Index -- CSCX --gaining more than 62 points to close at 11618 Losers beat gainers as 113 issues closed lower 97 closed higher and 37 remained unchanged on the CSE The port city bourse traded 1604 million shares and mutual fund units generating a turnover of Tk 483 million Source httptodaythefinancialexpresscombdstock-corporatedse-turnover-crosses-tk-80-billion-mark-1510245247date=10-11-2017

TEN COS GRAB 32PC TURNOVER ON DSE The banking sector continued to dominate the transaction chart of the Dhaka Stock Exchange (DSE) accounting for 39 per cent of the total turnover on Thursday Four banks made their way to the top 10 turnover chart with City Bank leading the chart for the second day in a row Brokers said the investors chased the banking sector issues as more than 63 per cent of listed banks showed positive earnings in the third quarter (July-September period) Meanwhile top 10 traded companies including four banks grabbed more than 32 per cent of turnover on the Dhaka bourse The total turnover on the premier bourse reached Tk 870 billion up 14 per cent from the previous days Tk 765 billion The most active shares in terms of value included City Bank Dhaka Bank LankaBangla Finance Brac Bank Keya Cosmetics Square Pharmaceuticals Beximco Pharmaceuticals IFAD Autos Exim Bank and IDLC Finance According to statistics available with the DSE about 1035 million shares of City Bank were traded generating a turnover of Tk 553 million or 635 per cent of the total transactions

Daily News Flash 12th November 2017

34

The companys share price hovered between Tk 5240 and Tk 5440 before closing at Tk 5390 advancing 228 per cent over the previous session Dhaka Bank came in next with shares of Tk 395 million changing hands contributing 454 per cent to the total turnover The banks share price closed 347 per cent higher at Tk 2380 LankaBangla notched the third spot with shares of Tk 266 million changing hands making up 305 per cent of the total turnover Its share price ended 063 per cent higher at Tk 6430 Brac Bank emerged the fourth with shares of Tk 257 million changing hands grabbing 295 per cent of the total turnover The banks share price settled 123 per cent higher at Tk 107 Keya Cosmetics featured a turnover of Tk 247 million or 284 per cent of the total turnover Its share price closed 201 per cent higher at Tk 1520 The turnover of Square Pharma was Tk 241 million or 276 per cent of the total transaction Its share price ended 612 per cent down at Tk 27890 Beximco Pharma featured a turnover of Tk 211 million or 242 per cent of the total turnover Its share price advanced 428 per cent to close at Tk 10960 The turnover of IFAD was Tk 208 million accounting for 238 per cent of the total turnover Its share price closed at Tk 14070 gaining 195 per cent Exim Bank featured a turnover of Tk 196 million or 225 per cent of the total transaction The banks share price inched up 055 per cent to close at Tk 1830 IDLC also made its way to the top ten turnover chart with shares of Tk 188 million changing hands Its share price closed 223 per cent higher at Tk 9150 Source httptodaythefinancialexpresscombdstock-corporateten-cos-grab-32pc-turnover-on-dse-1510245290date=10-11-2017

FOREIGN INVESTMENT HIKE INFO DRIVES MODERATE GAINS ON DSE The Dhaka bourse Thursday closed the session posting a moderate rise in the broad index and turnover amid mixed performance displayed by major sectors On the day most of the major sectors declined but the turnover crossed Tk 80 billion-mark after two sessions on Dhaka Stock Exchange (DSE) mainly because of investors increased participation in the banking sector According to a market review of International Leasing Securities positive momentum in some big-cap stocks especially from bank food and engineering sectors helped the bourse to close in green The market started the session with a positive note and the DSE broad index DSEX witnessed little ups and downs before closing higher According to AT Capital Partners the market remained sideways till the midsession The DSEX rose again in the second half of the session and closed at 61936 up by 345 points The shariah based index DSES and blue chip index DS30 also rose marginally The turnover stood at above Tk 870 billion which was 1370 per cent higher than the turnover of the previous session The confident drive was initiated by the investors buying spree riding on the news of doubling net foreign investment in stocks year-on-year in the first ten months of 2017 said the International Leasing SecuritiesAmong the gaining sectors bank advanced 08 per cent and engineering 03 per cent Of the losing sectors pharmaceuticals amp chemicals declined 11 per cent telecommunication 05 per cent and textiles 09 per cent The banking sector grabbed 384 per cent of the market turnover at the premier bourse DSECity Bank topped the turnover chart with a value of Tk 553 million followed by Dhaka Bank LankaBangla Finance BRAC Bank and Keya CosmeticsReckitt Benckiser (Bd) limited topped the gainers chart with a rise of 624 per cent to close at Tk 18456 while Quasem Drycells was the worst loser after declining 1235 per cent to close at Tk 8230 Source httptodaythefinancialexpresscombdstock-corporateforeign-investment-hike-info-drives-moderate-gains-on-dse-1510245365date=10-11-2017

Daily News Flash 12th November 2017

35

MORE JAPANESE COMPANIES SEEK TO INVEST IN BANGLADESH Japanese Ambassador to Bangladesh Hiroyasu Izumi has said the Japanese investors are keen to invest in Bangladesh considering the lucrative offer and ideal atmosphere for foreign investment reports BSS The Japanese investors expressed more interest to invest in Bangladesh at recently-held the third round of Public-Private Economic Dialogue between Bangladesh and Japan he said while visiting the Chittagong Export Processing Zone (CEPZ) on Thursday The envoy expressed the hopes that Japanese investment in the Export Processing Zones (EPZs) will increase after the successful dialogue said a press release More and more Japanese companies will come to invest in this country he added General Manager of CEPZ Khorshid Alam maed a PowerPoint presentation highlighting the overall scenario of EPZ as well as Bangladesh Export Processing Zone Authority (BEPZA) Mentioning Bangladesh EPZs as the Bonanza for Investors he said investors from 38 countries have set up industries in the EPZs and invested US $442 billion He informed the ambassador that BEPZA has ensured three layer security system including 24-hour CCTV surveillance in the key points of EPZ and factory premises for the safety of the investors Source httptodaythefinancialexpresscombdtrade-marketmore-japanese-companies-seek-to-invest-in-bangladesh-1510250285date=10-11-2017

Source httpwwwarthosuchakcomarchives388209

১৬০

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Source httpwwwarthosuchakcomarchives388257

Daily News Flash 12th November 2017

36

৫৩ ( ) ১৫ ও ২

১ ১ ৪৩ ২১০ ৫৩ ৪৪

৩২ ৫০

৮ ৫৮

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-

Source httpwwwarthosuchakcomarchives388125

৩৫ ( ) ৩৫

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১৭ ১১৯ ২১

ও - ১১

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Source httpwwwarthosuchakcomarchives388085

- ফ ৪০ ও - ৪০

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Daily News Flash 12th November 2017

37

Source httpwwwarthosuchakcomarchives387762

lsquo rsquo

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Source httpwwwarthosuchakcomarchives388276

- ও ও

Daily News Flash 12th November 2017

38

৩৮ ও ৪৩

১০০ ৬১ ৫৮ ২২৫ ১ ০৫

Source httpwwwarthosuchakcomarchives387849

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Daily News Flash 12th November 2017

39

(১০ ) ৫ ৭৬৩

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Source httpwwwprothom-alocomeconomyarticle1362971

ও ও

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Source httpwwwkalerkanthocomprint-editionindustry-business20171112564382

ফ ( ও) ১১

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Daily News Flash 12th November 2017

40

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Source httpwwwkalerkanthocomprint-editionindustry-business20171112564383

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Source httpwwwkalerkanthocomprint-editionindustry-business20171112564384

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Daily News Flash 12th November 2017

41

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564388

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২০১৪-১৫ ৩৭৫ ৮০ ৩৫ ৭০

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৮১ ২ ৫১ ৩ ২০

২ ও

৮৪

৮১

- ও

৮৩

৮২ ৯৫

ও ও - ও

ও ও ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17112200 - - - -

ও ৫০

ও ( ) ( )

ও ও

Daily News Flash 12th November 2017

42

ও ও

১০০

৮ ও

৩০০ ( )

ও ১৫০

২০০ ১০০

২০০

২৭ ৭

ও ও

ও ৩০ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111811 - - - -

-

২৭ ১১

১০

( ) ২৮৪

৬ ২৮ ৭ ১৫১

৭৪

ও - ও

ও - ও

ও ৩

৭ ১ ২৩

৯৪৪ ৮৮২ ১০

ও ৪ ৭ ও

৪ ৩৮ ও ১৫ ৪১ ২২ ৭০

২০ ৩৬ ১৩ ও

৪৬ ২২ ২০ ও

১৭ ৩৭১ ও ও

১৭ ও ৪৩ ও

Daily News Flash 12th November 2017

43

৬ ২০ ও ১৬

৩৫ ২০ ২৭

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111810 - - - - -

ও ও

১৩০ ও ১৪০

৫৫ ও ৯৭ ১১৩

৩৭

৩৪

৬১৯৩ ৬২ ১১৬১৭

৩০ ১৯

ও ও

ও - ও

৪৮ ৩১

১২ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111808 - - - - -

৩৫ ও ১০

ও ( ) ও

১০

ও ও -

২ ৩০০

২০১৪ ও

ও ৭ ২০১৪ ও ২০১৫

৫ ৭ ও ১২ ৮ ২৩

২০১৩ ১ ৪২০ ২০১৪ ১০ ৫ ১ ৫৭০

১৩ ৪ ও ১ ৩৫৮ ১০

২০১৬ ও ৩ ৫ ১ ৩১০ ২০১৪

২০১৬ mdash ২ ১ ঋ

১০ ও ২০১৩

২৯ ৮০ ২০১৪ ৫ ৭ ৩১ ৫০ ২০১৫

১২ ৩৫ ৩০ ২০১৬ ৭ ৩৭ ৮০

Daily News Flash 12th November 2017

44

২০১৪ ২০১৬

৩২ ৩৫ ও ৫০ ১৯

৫৬

১৭ ৪৬ ২০১৪ ২০১৬

৭২ ১০০ ও ১১১

২০১৪ ২০১৬ ১৫ ৬৩

৯১ ১১৪ ও ১১৮ ৮ ২৩

৮০ ৯০ ও

ও -

ও -

ও ও ও

১০ ও

১০ ও ২২

৭১ ১২ ৪২

৩২ ২৬ ও

ও ও

( ) ও

ও ২০২১ ও ও

৫ ১ ১৬

ও ও

Source httpbonikbartanetbanglanews2017-11-12137992 - - -- -

৫০০ ৫০০ ও

ও ৩০ ২০১৭

৫০০ ও ঋ ২০১৮

৩০

১ ২০ ও ১৫০

১১

Daily News Flash 12th November 2017

45

৩০০ ৬০০

( ) ও

১ ২৫ ও ১০

১০ ও

ঋ ও

৩০ ২০১৭ ৩ ও ১২ ও

( ) ২ ১৪ ২ ১

ও ৩০ ১১

( ) ও ও

( - ) ৬৬ ৫৫ ৩০

( ) ৩৪ ৯০

ও ও ও

( ) ও

ও ও ২০১৫ ৩০ ১০ ২০১৬

১২

( ) ৪১ ২০ ও ২৩ ৬০

৫০ ও

২০১৪ ৩০০ ও ১৪৮ ৪৬ ৫০

১৯১ ৬২ ৩৭ ৩১

১২ ৪৫ ৫০ ২৪

ও ( ) ১৬ ৫৩

ও ১৫ ২২

Source httpbonikbartanetbanglanews2017-11-12137966৫০০- - - - -ও -

৬৩

- ও ও

৬২ ৯৪ ৫

৬২

৯০

২০১৪ - -

- ও

২০১৬-১৭ ৫ ৬২ ও ২০১৩-১৪

১২

( ) ৯০

-

ও - - ও -

Daily News Flash 12th November 2017

46

- ও

৬২ ৯৪

২০১৩-১৪ ৭০ ৭৮ ২০১৪-১৫ ৫৪ ২২

২০১৫-১৬ ৩৯ ৩৩ ও ২৬ ২৩

ও ২০১৩-১৪

১২ ৩৬ ২০১৪-১৫ ৫ ৯১ ও ২০১৫-

১৬ ১৭ ৩০ ৫ ৬২

৩০ ২০১৭ ১০

২ ৮৬ ও ৩

ও ২৪ ( )

২৭

১৯৬৪ ১২

৪ ও ও ১৯৭২

ও ( )

ও ৩৪ ৮ ও

৯০

৪৫ ও ৫

১৯৬৪ ১৯৭২ ১৯৮৯

১০০ ও ২৬ ১৬ ২০ ৫৪৩ ৭৭

৫ - ৫১ ১৫ ৬০ ও

৩২ ৯০

Source httpbonikbartanetbanglanews2017-11-11137853 - - - - - -৬৩---

( ) ও

১০

ও ও ও

-

ও ও

ও ঋ ও

ও ২০১৪ ও

ও ও

২০১৩

( ) ও

Daily News Flash 12th November 2017

47

২০১৪

২০১৪-১৬ ও

২০১৪

ও ২০১৪

২০১৫ ২৭ lsquo ও rsquo

ও ও

২০১৬ ২৪

( )

ও ও

- ও

ও ও ১৯৮৩ ২০১৬

ঋ ( ) ৫৬০

৮৬৪

২০১৬ ২০১৯ ও

ও ১৫ ২৫ ৩০ ও ৩০

ও ঋ ও

২০১৬ ঋ ১

৩৪২ ঋ ৬ ৫২ ১২৩

ঋ ২ ৪৪৩ ঋ ১০

৮৪ ঋ ৪০

৭২৬

ও ২০১৬ ৭৪১

৪৫৭

২০৭ ২৪৪

১০ ও

ও ও ও ও ও

Daily News Flash 12th November 2017

48

Source httpbonikbartanetbanglanews2017-11-12137998 - - - - - ও- -

( )

৩০ ২০১৭ ২০

( ) ২ ১ ১ ৫৯ (

) ৩০ ( ) ১৫ ৩৭

ও ২৮ ১১

( ) ২৮

২০১৬ ৩০ ১৮ ২০

২০১৪ ও ২০

১৫ ৩০

১৮ ৮০ ও ৯ ৬০

Source httpbonikbartanetbanglanews2017-11-11137850 - - - -

ফ ৭ ২০১৭-১৮ ৭ ৩ ৭৪

( ) ও

( - ) ১ ১৫০ ৫৮

(২০১৬-১৭) ১ ৭৫ ৩ ৬০ ৭

৩ ১ ১৫৯ ২০ ৭৪

ও mdash

৬ ৬৫ ১৭ ৬৩

mdash ও ও

১৫ ৪১ ২২ ৬৯ ১০

১৯ ৬৬ ১০ ২০ ২২

mdash ও ও ও

৩৯ ৫১ ও ২ ও

১৬ ৪৬ ও ও ৬ ৯৯ ও

৩ ৮৫ ৯ ৯৫

১৯ ৮২

৮০

ও ( )

mdash

Daily News Flash 12th November 2017

49

ও ও

Source httpbonikbartanetbanglanews2017-11-10137755 - - - -৭- - --

ফ - ফ ও -ও

-ও

-ও

২৯-১০-২০১১ ৩ ( ) ২৮-১০-২০১৪

৩ ( ) ২৮-১১-২০১৬

২৮-১০-২০১৭ ৩ ( )

২০১৬-১৫৮১৩৪ ৪৪ ০৭-০৮-

২০১২ ১২(৬) ২ ( ) ৬ ( )

-ও - ও ২ ( )

৬ ( ) ও ও

-ও ৩ ( )

-

ও ও

১৯৯৪

২ ২২-০৫-২০১২ -ও ৩

- -

১৯৯৪

-ও

- ও

( )

১৯৯৪

১৯৯৪ -ও

Source httpwwwsharenews24comindexphppage=detailsampnc=1ampnews_id=6587

Daily News Flash 12th November 2017

50

ফ ফ

১৫ ও

-( ) ও

৪৯

১৬ ৮৫

৫১ ৪৯

৪ ৩৬

১৯১৩

১০০ ও ১৯০১ ১৯৬০

Source httpswwwdailystockbangladeshcom - - - -

- ( -১)

( ) ৮

৩০০ ও

( ) ১৬

- ২২৮ ৪৯ ১৮৩ ২০১৮

( ) ও

১৫০

( ) ও ৪০ ৩০

ও ও

ও ও

Source httpswwwdailystockbangladeshcom - - -

Page 31: Daily News Flash, 12th November, 2017 -  · PDF filebanglalink's revenue falls 4.57pc in q3 ... banks lack remedial strategy while npl rises worryingly

Daily News Flash 12th November 2017

31

A Petrobangla source however cited gas supply on priority basis to a number of upstream projects including power plants as reason behind supply shortage When asked Managing Director of Akij Group Sk Bashir Uddin termed the situation really worrisome According to him two of Akij Group companies situated in the area -- Akij Printing amp Packages Limited and Dhaka Tobacco Industries -- jointly contributed nearly Tk 35 billion (3500 crore) to the national exchequer in the 2016-17 fiscal year But were very much worried about our industrial output this year as production disruption following the twin crises involving gas supply and power supply Both will eventually disrupt our retail business in every phase he quipped This often results in a high rate of industrial wastage and reduction of production efficiency he added Bangladesh Auto Re-rolling Steel Mills amp Association Chairman Manwar Hossain who is also Anwar Group Managing Director echoed the same concern Factories in the industrial belt are now operating at one-third of their capacity which may lead to labour unrest and default of huge sum of bank loans he said Such disruption of production he cautions may even cause sudden shutdown of factories According to him none of the victims in that case will be the wilful defaulters -- they will be the victims of circumstances The businessman who has a steel factory called Anwar Ispat Limited in the industrial belt called for immediate introduction of ECM (electronically controlled meters) to check unabated gas engineering in the area which he deems to be yet another reason for gas supply crunch Titas officials according to him are encouraging co-generation scheme to help address the severe gas crisis But he said co-generation will require stable and smooth gas supply Government should ensure at least 10-15 years of smooth gas supply to encourage co-generation as what he said any industrial investment requires 20 years of payback period TGTDCL Deputy Managing Director Engineer Abdul Wahab Talukdar who is also the Project Director of Sripur-Joydevpur Transmission Pipeline Project said We cannot do anything to address the crisis if there is a lack of adequate gas supply Mentioning that all factories in the industrial belt are like my babies he unequivocally said Titas is not at fault He also admitted that priority-based power plants gas supply being the reason behind the current spell of gas crunch We have already started introducing electronic volumetric corrector (EVC) to stop illegal gas use in the area he said Factories he added should go for co-generation scheme for protecting their own interest Co-generation means utilising and absorbing heat generated from gas generators which Mr Wahab said will save energy A section of the businessmen however called for stopping fertiliser production and distributing the same among people at a subsidised price after importing it to facilitate smooth supply of gas to other industries Even if the government stops fertiliser production and opts for importing it for distribution at a subsidised rate there will only be an insignificant loss compared to the overall losses now being incurred said an industrialist who has more than one factory in the industrial belt Local sources said illegal and unapproved gas connections in various industries in and around the zone are also affecting gas supply badly among other reasons Source httptodaythefinancialexpresscombdfirst-pagegas-crisis-hurting-output-in-industrial-belt-1510249018date=10-11-2017

Daily News Flash 12th November 2017

32

SINGLE PERSON MAY FORM COMPANY A single person may form a commercial firm under a provision of the companies law being updated along with some other major business-stimulating measures Official sources said the government is considering incorporating some new provisions including one allowing individuals to form any company into the updated Companies Act The other provisions are formation of an appellate tribunal to resolve legal matters without wasting much time widespread automation of companies work and submission of annual company reports online Earlier the Ministry of Commerce (MoC) had received some recommendations from the stakeholders on how to update the law they added We got most of the recommendations from the stakeholders We hope we will be able to prepare the draft Companies Act within a month Md Obaidul Azam director trade organisations (DTO) told the FE He said the recommendations the ministry had received so far were being scrutinised before preparing a draft for updating the companies act Earlier different trade bodies had sent their respective recommendations to the MoC for incorporation into the law The MoC will hold a meeting with the countrys apex trade body after assessing the recommendations and suggestions the ministry official said Talking to the FE a leader of an influential trade body said they had sent some recommendationssuggestions to the MoC for the new Companies Act for betterment of the countrys trade and business According to Section 2 (1) (c) of the Companies Act 1994 Company means a company formed and registered under this Act or an existing company Thus a company is an association of persons formed under the Companies Act 1994 with a view to achieving some common objectives Though a company is regarded a legal person it possesses similar rights and owes similar obligations like a natural person Now any individual fulfilling the new criteria may be allowed to form a firm Source httptodaythefinancialexpresscombdfirst-pagesingle-person-may-form-company-1510249090date=10-11-2017

DSE TURNOVER CROSSES TK 80 BILLION MARK The daily turnover on Dhaka Stock Exchange (DSE) exceeded the Tk 80 billion mark on Thursday as investors took fresh exposure to the banking sector Turnover a crucial indicator of the market reached Tk 870 billion on the countrys premier bourse jumping 14 per cent from the previous days transaction of Tk 765 billion It was the biggest single-day transaction since October 11 when the turnover totalled a record Tk 1092 billion Along with rising turnover DSEX the prime index of the Dhaka bourse continued to keep its gaining momentum closing 3449 points higher at 6193 points DSEX which replaced the DGEN in nearly five years back added more than 121 points or 20 per cent in the past four consecutive sessions The two other indices -- the DS30 index and the DSE Shariah Index (DSES) -- also followed suit to end at 2244 and 1341 points after gaining 1422 points and 443 points respectively Brokers said the market maintained the bullish trend for the four straight sessions as the enthusiastic investors chased the banking sector stocks The market continued the bullish trend for the four consecutive sessions as the enthusiastic investors were active for the banking food and engineering sector stocks commented EBL Securities a stockbroker in its regular market analysis

Daily News Flash 12th November 2017

33

It noted that the core index remained positive throughout the session as optimistic investors kept buying sector-wise stocks while some rebalanced their portfolios Meanwhile share price of newly listed Oimex Electrode continued to decline for the three consecutive sessions after unusual hike during its debut trading on Monday The companys share price fell 763 per cent to close at Tk 9810 on Thursday after jumping more than tenfold during the debut trading which experts termed unusual Block trade contributed Tk 241 million to the days total turnover with stocks like BATBC Square Pharmaceuticals Singer Bangladesh and Beximco Pharma dominating the block trade board Among the major sectors pharmaceuticals posted the highest gain of 122 per cent followed by banking sector (083 per cent) food amp allied (067 per cent) engineering (033 per cent) financial institutions (003 per cent) and power (003 per cent) Only telecommunication sector faced a 045 per cent correction A total number of 0140 million trades were executed in the days trading session with trading volume totalling 23171 million securities The total market capitalisation of the DSE stood at Tk 4179 billion against Tk 4168 billion in the previous session Losers however took a modest lead over the gainers as out of 325 issues traded 140 closed lower 130 closed higher and 55 remained unchanged on the DSE trading floor City Bank dominated the turnover chart for the second day in a row with 1035 million shares changing hands closely followed by Dhaka Bank LankaBangla Finance Brac Bank and Keya Cosmetics Reckitt Benckiser was also the days best performer posting a gain of 624 per cent while Qasem Drycells was the days biggest loser shedding 1235 per cent The port city bourse Chittagong Stock Exchange (CSE) also ended higher with its Selective Categories Index -- CSCX --gaining more than 62 points to close at 11618 Losers beat gainers as 113 issues closed lower 97 closed higher and 37 remained unchanged on the CSE The port city bourse traded 1604 million shares and mutual fund units generating a turnover of Tk 483 million Source httptodaythefinancialexpresscombdstock-corporatedse-turnover-crosses-tk-80-billion-mark-1510245247date=10-11-2017

TEN COS GRAB 32PC TURNOVER ON DSE The banking sector continued to dominate the transaction chart of the Dhaka Stock Exchange (DSE) accounting for 39 per cent of the total turnover on Thursday Four banks made their way to the top 10 turnover chart with City Bank leading the chart for the second day in a row Brokers said the investors chased the banking sector issues as more than 63 per cent of listed banks showed positive earnings in the third quarter (July-September period) Meanwhile top 10 traded companies including four banks grabbed more than 32 per cent of turnover on the Dhaka bourse The total turnover on the premier bourse reached Tk 870 billion up 14 per cent from the previous days Tk 765 billion The most active shares in terms of value included City Bank Dhaka Bank LankaBangla Finance Brac Bank Keya Cosmetics Square Pharmaceuticals Beximco Pharmaceuticals IFAD Autos Exim Bank and IDLC Finance According to statistics available with the DSE about 1035 million shares of City Bank were traded generating a turnover of Tk 553 million or 635 per cent of the total transactions

Daily News Flash 12th November 2017

34

The companys share price hovered between Tk 5240 and Tk 5440 before closing at Tk 5390 advancing 228 per cent over the previous session Dhaka Bank came in next with shares of Tk 395 million changing hands contributing 454 per cent to the total turnover The banks share price closed 347 per cent higher at Tk 2380 LankaBangla notched the third spot with shares of Tk 266 million changing hands making up 305 per cent of the total turnover Its share price ended 063 per cent higher at Tk 6430 Brac Bank emerged the fourth with shares of Tk 257 million changing hands grabbing 295 per cent of the total turnover The banks share price settled 123 per cent higher at Tk 107 Keya Cosmetics featured a turnover of Tk 247 million or 284 per cent of the total turnover Its share price closed 201 per cent higher at Tk 1520 The turnover of Square Pharma was Tk 241 million or 276 per cent of the total transaction Its share price ended 612 per cent down at Tk 27890 Beximco Pharma featured a turnover of Tk 211 million or 242 per cent of the total turnover Its share price advanced 428 per cent to close at Tk 10960 The turnover of IFAD was Tk 208 million accounting for 238 per cent of the total turnover Its share price closed at Tk 14070 gaining 195 per cent Exim Bank featured a turnover of Tk 196 million or 225 per cent of the total transaction The banks share price inched up 055 per cent to close at Tk 1830 IDLC also made its way to the top ten turnover chart with shares of Tk 188 million changing hands Its share price closed 223 per cent higher at Tk 9150 Source httptodaythefinancialexpresscombdstock-corporateten-cos-grab-32pc-turnover-on-dse-1510245290date=10-11-2017

FOREIGN INVESTMENT HIKE INFO DRIVES MODERATE GAINS ON DSE The Dhaka bourse Thursday closed the session posting a moderate rise in the broad index and turnover amid mixed performance displayed by major sectors On the day most of the major sectors declined but the turnover crossed Tk 80 billion-mark after two sessions on Dhaka Stock Exchange (DSE) mainly because of investors increased participation in the banking sector According to a market review of International Leasing Securities positive momentum in some big-cap stocks especially from bank food and engineering sectors helped the bourse to close in green The market started the session with a positive note and the DSE broad index DSEX witnessed little ups and downs before closing higher According to AT Capital Partners the market remained sideways till the midsession The DSEX rose again in the second half of the session and closed at 61936 up by 345 points The shariah based index DSES and blue chip index DS30 also rose marginally The turnover stood at above Tk 870 billion which was 1370 per cent higher than the turnover of the previous session The confident drive was initiated by the investors buying spree riding on the news of doubling net foreign investment in stocks year-on-year in the first ten months of 2017 said the International Leasing SecuritiesAmong the gaining sectors bank advanced 08 per cent and engineering 03 per cent Of the losing sectors pharmaceuticals amp chemicals declined 11 per cent telecommunication 05 per cent and textiles 09 per cent The banking sector grabbed 384 per cent of the market turnover at the premier bourse DSECity Bank topped the turnover chart with a value of Tk 553 million followed by Dhaka Bank LankaBangla Finance BRAC Bank and Keya CosmeticsReckitt Benckiser (Bd) limited topped the gainers chart with a rise of 624 per cent to close at Tk 18456 while Quasem Drycells was the worst loser after declining 1235 per cent to close at Tk 8230 Source httptodaythefinancialexpresscombdstock-corporateforeign-investment-hike-info-drives-moderate-gains-on-dse-1510245365date=10-11-2017

Daily News Flash 12th November 2017

35

MORE JAPANESE COMPANIES SEEK TO INVEST IN BANGLADESH Japanese Ambassador to Bangladesh Hiroyasu Izumi has said the Japanese investors are keen to invest in Bangladesh considering the lucrative offer and ideal atmosphere for foreign investment reports BSS The Japanese investors expressed more interest to invest in Bangladesh at recently-held the third round of Public-Private Economic Dialogue between Bangladesh and Japan he said while visiting the Chittagong Export Processing Zone (CEPZ) on Thursday The envoy expressed the hopes that Japanese investment in the Export Processing Zones (EPZs) will increase after the successful dialogue said a press release More and more Japanese companies will come to invest in this country he added General Manager of CEPZ Khorshid Alam maed a PowerPoint presentation highlighting the overall scenario of EPZ as well as Bangladesh Export Processing Zone Authority (BEPZA) Mentioning Bangladesh EPZs as the Bonanza for Investors he said investors from 38 countries have set up industries in the EPZs and invested US $442 billion He informed the ambassador that BEPZA has ensured three layer security system including 24-hour CCTV surveillance in the key points of EPZ and factory premises for the safety of the investors Source httptodaythefinancialexpresscombdtrade-marketmore-japanese-companies-seek-to-invest-in-bangladesh-1510250285date=10-11-2017

Source httpwwwarthosuchakcomarchives388209

১৬০

১১৫ ৪ ৫ ১০ ২০

৩০ ( )

( )

৩০ ২০১৭ ১৫

৩ ও ১২

২ ১৪ ( ) ৩৪

২৪

Source httpwwwarthosuchakcomarchives388257

Daily News Flash 12th November 2017

36

৫৩ ( ) ১৫ ও ২

১ ১ ৪৩ ২১০ ৫৩ ৪৪

৩২ ৫০

৮ ৫৮

২০

১ ২৪

৯ ২৭ ৫৫৫ ৯ ৩৮

-

Source httpwwwarthosuchakcomarchives388125

৩৫ ( ) ৩৫

২৪৫ ৩

১৭ ১১৯ ২১

ও - ১১

৯ ৬ - ৫ ৪

- ও ২

ও ১

Source httpwwwarthosuchakcomarchives388085

- ফ ৪০ ও - ৪০

৬ ( ) ৫ ৯ ৫ ৪৯২ ১১

৫৬ ৪৫১ ২৯

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( )

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৩০ ২০১৬ ৩৫ ৬৩

৫ ( ) ৩ ৪৯

Daily News Flash 12th November 2017

37

Source httpwwwarthosuchakcomarchives387762

lsquo rsquo

( )

lsquo - rsquo

( ) ও

২০০২ ( ২ )

৫৪৬

ও ১৫

ও ১৫ ৭৫ ও

১০-১২ ১

১৫৫ ৬৭

ও ২০১০

ও ও ও -

ঋ ঋ

১৫ ৪ ৩

২ ২ ৪ ১৫ ৬

( )

Source httpwwwarthosuchakcomarchives388276

- ও ও

Daily News Flash 12th November 2017

38

৩৮ ও ৪৩

১০০ ৬১ ৫৮ ২২৫ ১ ০৫

Source httpwwwarthosuchakcomarchives387849

- ও ( -২)

৬ ও

ও ৫ ৩০০

ও ও

৭ ২০০

( ও )

ও ও

ও ও

২ - ও mdashlsquo

rsquo ও

-

৫ ৩০০

- ১০ - ৪২৯ -

৩২৮

- ১০

( )

২০১৪

( ও) ও ( )

( )

২ ও ও

ও ও ও

ও ২০১১- ও

ও ( )

Daily News Flash 12th November 2017

39

(১০ ) ৫ ৭৬৩

৬৩ ও

ও ( )

- ২০১৪ ও

ও ও

Source httpwwwprothom-alocomeconomyarticle1362971

ও ও

ও - ও

২০১৬-১৭ ২০ ও

ও ও lsquo rsquo

ও ১০ ও

৭৭ ২০১৭

১৬ ২৭ ও

২০১৬-২০১৭ ২০ lsquo rsquo

ও-

ও ও ও

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564382

ফ ( ও) ১১

ও ও

ও lsquo১১ ও rsquo

১০ ১৩

( ) ( )

Daily News Flash 12th November 2017

40

- ও

-

( )

( )

lsquo ও

rsquo ও

২৬ ১০

১৬

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564383

১ ৫০

ও ২০৫০

২৩

১৬ ৫৯ ২০১১

২০৩০

( )

ঋ ও ও

৬৮ ৬৭

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564384

ফ lsquo

ও ও

( ) ও

- ও

( ও ) ( )

Daily News Flash 12th November 2017

41

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564388

৪৫ ও

৮৪ ৮৩

৯২০

২৭ ২৪ ৭ ৩

৬ ৮৯

৯ ১ ৭২ ১৪ ৪৮

৪৫

ও ১৭ ৫০

১৯৩ ১০ ২০১৫-১৬ ৪১৩ ১০ ও ও

২০১৪-১৫ ৩৭৫ ৮০ ৩৫ ৭০

২০১৩-১৪ ৫১৫ ও

৮১ ২ ৫১ ৩ ২০

২ ও

৮৪

৮১

- ও

৮৩

৮২ ৯৫

ও ও - ও

ও ও ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17112200 - - - -

ও ৫০

ও ( ) ( )

ও ও

Daily News Flash 12th November 2017

42

ও ও

১০০

৮ ও

৩০০ ( )

ও ১৫০

২০০ ১০০

২০০

২৭ ৭

ও ও

ও ৩০ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111811 - - - -

-

২৭ ১১

১০

( ) ২৮৪

৬ ২৮ ৭ ১৫১

৭৪

ও - ও

ও - ও

ও ৩

৭ ১ ২৩

৯৪৪ ৮৮২ ১০

ও ৪ ৭ ও

৪ ৩৮ ও ১৫ ৪১ ২২ ৭০

২০ ৩৬ ১৩ ও

৪৬ ২২ ২০ ও

১৭ ৩৭১ ও ও

১৭ ও ৪৩ ও

Daily News Flash 12th November 2017

43

৬ ২০ ও ১৬

৩৫ ২০ ২৭

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111810 - - - - -

ও ও

১৩০ ও ১৪০

৫৫ ও ৯৭ ১১৩

৩৭

৩৪

৬১৯৩ ৬২ ১১৬১৭

৩০ ১৯

ও ও

ও - ও

৪৮ ৩১

১২ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111808 - - - - -

৩৫ ও ১০

ও ( ) ও

১০

ও ও -

২ ৩০০

২০১৪ ও

ও ৭ ২০১৪ ও ২০১৫

৫ ৭ ও ১২ ৮ ২৩

২০১৩ ১ ৪২০ ২০১৪ ১০ ৫ ১ ৫৭০

১৩ ৪ ও ১ ৩৫৮ ১০

২০১৬ ও ৩ ৫ ১ ৩১০ ২০১৪

২০১৬ mdash ২ ১ ঋ

১০ ও ২০১৩

২৯ ৮০ ২০১৪ ৫ ৭ ৩১ ৫০ ২০১৫

১২ ৩৫ ৩০ ২০১৬ ৭ ৩৭ ৮০

Daily News Flash 12th November 2017

44

২০১৪ ২০১৬

৩২ ৩৫ ও ৫০ ১৯

৫৬

১৭ ৪৬ ২০১৪ ২০১৬

৭২ ১০০ ও ১১১

২০১৪ ২০১৬ ১৫ ৬৩

৯১ ১১৪ ও ১১৮ ৮ ২৩

৮০ ৯০ ও

ও -

ও -

ও ও ও

১০ ও

১০ ও ২২

৭১ ১২ ৪২

৩২ ২৬ ও

ও ও

( ) ও

ও ২০২১ ও ও

৫ ১ ১৬

ও ও

Source httpbonikbartanetbanglanews2017-11-12137992 - - -- -

৫০০ ৫০০ ও

ও ৩০ ২০১৭

৫০০ ও ঋ ২০১৮

৩০

১ ২০ ও ১৫০

১১

Daily News Flash 12th November 2017

45

৩০০ ৬০০

( ) ও

১ ২৫ ও ১০

১০ ও

ঋ ও

৩০ ২০১৭ ৩ ও ১২ ও

( ) ২ ১৪ ২ ১

ও ৩০ ১১

( ) ও ও

( - ) ৬৬ ৫৫ ৩০

( ) ৩৪ ৯০

ও ও ও

( ) ও

ও ও ২০১৫ ৩০ ১০ ২০১৬

১২

( ) ৪১ ২০ ও ২৩ ৬০

৫০ ও

২০১৪ ৩০০ ও ১৪৮ ৪৬ ৫০

১৯১ ৬২ ৩৭ ৩১

১২ ৪৫ ৫০ ২৪

ও ( ) ১৬ ৫৩

ও ১৫ ২২

Source httpbonikbartanetbanglanews2017-11-12137966৫০০- - - - -ও -

৬৩

- ও ও

৬২ ৯৪ ৫

৬২

৯০

২০১৪ - -

- ও

২০১৬-১৭ ৫ ৬২ ও ২০১৩-১৪

১২

( ) ৯০

-

ও - - ও -

Daily News Flash 12th November 2017

46

- ও

৬২ ৯৪

২০১৩-১৪ ৭০ ৭৮ ২০১৪-১৫ ৫৪ ২২

২০১৫-১৬ ৩৯ ৩৩ ও ২৬ ২৩

ও ২০১৩-১৪

১২ ৩৬ ২০১৪-১৫ ৫ ৯১ ও ২০১৫-

১৬ ১৭ ৩০ ৫ ৬২

৩০ ২০১৭ ১০

২ ৮৬ ও ৩

ও ২৪ ( )

২৭

১৯৬৪ ১২

৪ ও ও ১৯৭২

ও ( )

ও ৩৪ ৮ ও

৯০

৪৫ ও ৫

১৯৬৪ ১৯৭২ ১৯৮৯

১০০ ও ২৬ ১৬ ২০ ৫৪৩ ৭৭

৫ - ৫১ ১৫ ৬০ ও

৩২ ৯০

Source httpbonikbartanetbanglanews2017-11-11137853 - - - - - -৬৩---

( ) ও

১০

ও ও ও

-

ও ও

ও ঋ ও

ও ২০১৪ ও

ও ও

২০১৩

( ) ও

Daily News Flash 12th November 2017

47

২০১৪

২০১৪-১৬ ও

২০১৪

ও ২০১৪

২০১৫ ২৭ lsquo ও rsquo

ও ও

২০১৬ ২৪

( )

ও ও

- ও

ও ও ১৯৮৩ ২০১৬

ঋ ( ) ৫৬০

৮৬৪

২০১৬ ২০১৯ ও

ও ১৫ ২৫ ৩০ ও ৩০

ও ঋ ও

২০১৬ ঋ ১

৩৪২ ঋ ৬ ৫২ ১২৩

ঋ ২ ৪৪৩ ঋ ১০

৮৪ ঋ ৪০

৭২৬

ও ২০১৬ ৭৪১

৪৫৭

২০৭ ২৪৪

১০ ও

ও ও ও ও ও

Daily News Flash 12th November 2017

48

Source httpbonikbartanetbanglanews2017-11-12137998 - - - - - ও- -

( )

৩০ ২০১৭ ২০

( ) ২ ১ ১ ৫৯ (

) ৩০ ( ) ১৫ ৩৭

ও ২৮ ১১

( ) ২৮

২০১৬ ৩০ ১৮ ২০

২০১৪ ও ২০

১৫ ৩০

১৮ ৮০ ও ৯ ৬০

Source httpbonikbartanetbanglanews2017-11-11137850 - - - -

ফ ৭ ২০১৭-১৮ ৭ ৩ ৭৪

( ) ও

( - ) ১ ১৫০ ৫৮

(২০১৬-১৭) ১ ৭৫ ৩ ৬০ ৭

৩ ১ ১৫৯ ২০ ৭৪

ও mdash

৬ ৬৫ ১৭ ৬৩

mdash ও ও

১৫ ৪১ ২২ ৬৯ ১০

১৯ ৬৬ ১০ ২০ ২২

mdash ও ও ও

৩৯ ৫১ ও ২ ও

১৬ ৪৬ ও ও ৬ ৯৯ ও

৩ ৮৫ ৯ ৯৫

১৯ ৮২

৮০

ও ( )

mdash

Daily News Flash 12th November 2017

49

ও ও

Source httpbonikbartanetbanglanews2017-11-10137755 - - - -৭- - --

ফ - ফ ও -ও

-ও

-ও

২৯-১০-২০১১ ৩ ( ) ২৮-১০-২০১৪

৩ ( ) ২৮-১১-২০১৬

২৮-১০-২০১৭ ৩ ( )

২০১৬-১৫৮১৩৪ ৪৪ ০৭-০৮-

২০১২ ১২(৬) ২ ( ) ৬ ( )

-ও - ও ২ ( )

৬ ( ) ও ও

-ও ৩ ( )

-

ও ও

১৯৯৪

২ ২২-০৫-২০১২ -ও ৩

- -

১৯৯৪

-ও

- ও

( )

১৯৯৪

১৯৯৪ -ও

Source httpwwwsharenews24comindexphppage=detailsampnc=1ampnews_id=6587

Daily News Flash 12th November 2017

50

ফ ফ

১৫ ও

-( ) ও

৪৯

১৬ ৮৫

৫১ ৪৯

৪ ৩৬

১৯১৩

১০০ ও ১৯০১ ১৯৬০

Source httpswwwdailystockbangladeshcom - - - -

- ( -১)

( ) ৮

৩০০ ও

( ) ১৬

- ২২৮ ৪৯ ১৮৩ ২০১৮

( ) ও

১৫০

( ) ও ৪০ ৩০

ও ও

ও ও

Source httpswwwdailystockbangladeshcom - - -

Page 32: Daily News Flash, 12th November, 2017 -  · PDF filebanglalink's revenue falls 4.57pc in q3 ... banks lack remedial strategy while npl rises worryingly

Daily News Flash 12th November 2017

32

SINGLE PERSON MAY FORM COMPANY A single person may form a commercial firm under a provision of the companies law being updated along with some other major business-stimulating measures Official sources said the government is considering incorporating some new provisions including one allowing individuals to form any company into the updated Companies Act The other provisions are formation of an appellate tribunal to resolve legal matters without wasting much time widespread automation of companies work and submission of annual company reports online Earlier the Ministry of Commerce (MoC) had received some recommendations from the stakeholders on how to update the law they added We got most of the recommendations from the stakeholders We hope we will be able to prepare the draft Companies Act within a month Md Obaidul Azam director trade organisations (DTO) told the FE He said the recommendations the ministry had received so far were being scrutinised before preparing a draft for updating the companies act Earlier different trade bodies had sent their respective recommendations to the MoC for incorporation into the law The MoC will hold a meeting with the countrys apex trade body after assessing the recommendations and suggestions the ministry official said Talking to the FE a leader of an influential trade body said they had sent some recommendationssuggestions to the MoC for the new Companies Act for betterment of the countrys trade and business According to Section 2 (1) (c) of the Companies Act 1994 Company means a company formed and registered under this Act or an existing company Thus a company is an association of persons formed under the Companies Act 1994 with a view to achieving some common objectives Though a company is regarded a legal person it possesses similar rights and owes similar obligations like a natural person Now any individual fulfilling the new criteria may be allowed to form a firm Source httptodaythefinancialexpresscombdfirst-pagesingle-person-may-form-company-1510249090date=10-11-2017

DSE TURNOVER CROSSES TK 80 BILLION MARK The daily turnover on Dhaka Stock Exchange (DSE) exceeded the Tk 80 billion mark on Thursday as investors took fresh exposure to the banking sector Turnover a crucial indicator of the market reached Tk 870 billion on the countrys premier bourse jumping 14 per cent from the previous days transaction of Tk 765 billion It was the biggest single-day transaction since October 11 when the turnover totalled a record Tk 1092 billion Along with rising turnover DSEX the prime index of the Dhaka bourse continued to keep its gaining momentum closing 3449 points higher at 6193 points DSEX which replaced the DGEN in nearly five years back added more than 121 points or 20 per cent in the past four consecutive sessions The two other indices -- the DS30 index and the DSE Shariah Index (DSES) -- also followed suit to end at 2244 and 1341 points after gaining 1422 points and 443 points respectively Brokers said the market maintained the bullish trend for the four straight sessions as the enthusiastic investors chased the banking sector stocks The market continued the bullish trend for the four consecutive sessions as the enthusiastic investors were active for the banking food and engineering sector stocks commented EBL Securities a stockbroker in its regular market analysis

Daily News Flash 12th November 2017

33

It noted that the core index remained positive throughout the session as optimistic investors kept buying sector-wise stocks while some rebalanced their portfolios Meanwhile share price of newly listed Oimex Electrode continued to decline for the three consecutive sessions after unusual hike during its debut trading on Monday The companys share price fell 763 per cent to close at Tk 9810 on Thursday after jumping more than tenfold during the debut trading which experts termed unusual Block trade contributed Tk 241 million to the days total turnover with stocks like BATBC Square Pharmaceuticals Singer Bangladesh and Beximco Pharma dominating the block trade board Among the major sectors pharmaceuticals posted the highest gain of 122 per cent followed by banking sector (083 per cent) food amp allied (067 per cent) engineering (033 per cent) financial institutions (003 per cent) and power (003 per cent) Only telecommunication sector faced a 045 per cent correction A total number of 0140 million trades were executed in the days trading session with trading volume totalling 23171 million securities The total market capitalisation of the DSE stood at Tk 4179 billion against Tk 4168 billion in the previous session Losers however took a modest lead over the gainers as out of 325 issues traded 140 closed lower 130 closed higher and 55 remained unchanged on the DSE trading floor City Bank dominated the turnover chart for the second day in a row with 1035 million shares changing hands closely followed by Dhaka Bank LankaBangla Finance Brac Bank and Keya Cosmetics Reckitt Benckiser was also the days best performer posting a gain of 624 per cent while Qasem Drycells was the days biggest loser shedding 1235 per cent The port city bourse Chittagong Stock Exchange (CSE) also ended higher with its Selective Categories Index -- CSCX --gaining more than 62 points to close at 11618 Losers beat gainers as 113 issues closed lower 97 closed higher and 37 remained unchanged on the CSE The port city bourse traded 1604 million shares and mutual fund units generating a turnover of Tk 483 million Source httptodaythefinancialexpresscombdstock-corporatedse-turnover-crosses-tk-80-billion-mark-1510245247date=10-11-2017

TEN COS GRAB 32PC TURNOVER ON DSE The banking sector continued to dominate the transaction chart of the Dhaka Stock Exchange (DSE) accounting for 39 per cent of the total turnover on Thursday Four banks made their way to the top 10 turnover chart with City Bank leading the chart for the second day in a row Brokers said the investors chased the banking sector issues as more than 63 per cent of listed banks showed positive earnings in the third quarter (July-September period) Meanwhile top 10 traded companies including four banks grabbed more than 32 per cent of turnover on the Dhaka bourse The total turnover on the premier bourse reached Tk 870 billion up 14 per cent from the previous days Tk 765 billion The most active shares in terms of value included City Bank Dhaka Bank LankaBangla Finance Brac Bank Keya Cosmetics Square Pharmaceuticals Beximco Pharmaceuticals IFAD Autos Exim Bank and IDLC Finance According to statistics available with the DSE about 1035 million shares of City Bank were traded generating a turnover of Tk 553 million or 635 per cent of the total transactions

Daily News Flash 12th November 2017

34

The companys share price hovered between Tk 5240 and Tk 5440 before closing at Tk 5390 advancing 228 per cent over the previous session Dhaka Bank came in next with shares of Tk 395 million changing hands contributing 454 per cent to the total turnover The banks share price closed 347 per cent higher at Tk 2380 LankaBangla notched the third spot with shares of Tk 266 million changing hands making up 305 per cent of the total turnover Its share price ended 063 per cent higher at Tk 6430 Brac Bank emerged the fourth with shares of Tk 257 million changing hands grabbing 295 per cent of the total turnover The banks share price settled 123 per cent higher at Tk 107 Keya Cosmetics featured a turnover of Tk 247 million or 284 per cent of the total turnover Its share price closed 201 per cent higher at Tk 1520 The turnover of Square Pharma was Tk 241 million or 276 per cent of the total transaction Its share price ended 612 per cent down at Tk 27890 Beximco Pharma featured a turnover of Tk 211 million or 242 per cent of the total turnover Its share price advanced 428 per cent to close at Tk 10960 The turnover of IFAD was Tk 208 million accounting for 238 per cent of the total turnover Its share price closed at Tk 14070 gaining 195 per cent Exim Bank featured a turnover of Tk 196 million or 225 per cent of the total transaction The banks share price inched up 055 per cent to close at Tk 1830 IDLC also made its way to the top ten turnover chart with shares of Tk 188 million changing hands Its share price closed 223 per cent higher at Tk 9150 Source httptodaythefinancialexpresscombdstock-corporateten-cos-grab-32pc-turnover-on-dse-1510245290date=10-11-2017

FOREIGN INVESTMENT HIKE INFO DRIVES MODERATE GAINS ON DSE The Dhaka bourse Thursday closed the session posting a moderate rise in the broad index and turnover amid mixed performance displayed by major sectors On the day most of the major sectors declined but the turnover crossed Tk 80 billion-mark after two sessions on Dhaka Stock Exchange (DSE) mainly because of investors increased participation in the banking sector According to a market review of International Leasing Securities positive momentum in some big-cap stocks especially from bank food and engineering sectors helped the bourse to close in green The market started the session with a positive note and the DSE broad index DSEX witnessed little ups and downs before closing higher According to AT Capital Partners the market remained sideways till the midsession The DSEX rose again in the second half of the session and closed at 61936 up by 345 points The shariah based index DSES and blue chip index DS30 also rose marginally The turnover stood at above Tk 870 billion which was 1370 per cent higher than the turnover of the previous session The confident drive was initiated by the investors buying spree riding on the news of doubling net foreign investment in stocks year-on-year in the first ten months of 2017 said the International Leasing SecuritiesAmong the gaining sectors bank advanced 08 per cent and engineering 03 per cent Of the losing sectors pharmaceuticals amp chemicals declined 11 per cent telecommunication 05 per cent and textiles 09 per cent The banking sector grabbed 384 per cent of the market turnover at the premier bourse DSECity Bank topped the turnover chart with a value of Tk 553 million followed by Dhaka Bank LankaBangla Finance BRAC Bank and Keya CosmeticsReckitt Benckiser (Bd) limited topped the gainers chart with a rise of 624 per cent to close at Tk 18456 while Quasem Drycells was the worst loser after declining 1235 per cent to close at Tk 8230 Source httptodaythefinancialexpresscombdstock-corporateforeign-investment-hike-info-drives-moderate-gains-on-dse-1510245365date=10-11-2017

Daily News Flash 12th November 2017

35

MORE JAPANESE COMPANIES SEEK TO INVEST IN BANGLADESH Japanese Ambassador to Bangladesh Hiroyasu Izumi has said the Japanese investors are keen to invest in Bangladesh considering the lucrative offer and ideal atmosphere for foreign investment reports BSS The Japanese investors expressed more interest to invest in Bangladesh at recently-held the third round of Public-Private Economic Dialogue between Bangladesh and Japan he said while visiting the Chittagong Export Processing Zone (CEPZ) on Thursday The envoy expressed the hopes that Japanese investment in the Export Processing Zones (EPZs) will increase after the successful dialogue said a press release More and more Japanese companies will come to invest in this country he added General Manager of CEPZ Khorshid Alam maed a PowerPoint presentation highlighting the overall scenario of EPZ as well as Bangladesh Export Processing Zone Authority (BEPZA) Mentioning Bangladesh EPZs as the Bonanza for Investors he said investors from 38 countries have set up industries in the EPZs and invested US $442 billion He informed the ambassador that BEPZA has ensured three layer security system including 24-hour CCTV surveillance in the key points of EPZ and factory premises for the safety of the investors Source httptodaythefinancialexpresscombdtrade-marketmore-japanese-companies-seek-to-invest-in-bangladesh-1510250285date=10-11-2017

Source httpwwwarthosuchakcomarchives388209

১৬০

১১৫ ৪ ৫ ১০ ২০

৩০ ( )

( )

৩০ ২০১৭ ১৫

৩ ও ১২

২ ১৪ ( ) ৩৪

২৪

Source httpwwwarthosuchakcomarchives388257

Daily News Flash 12th November 2017

36

৫৩ ( ) ১৫ ও ২

১ ১ ৪৩ ২১০ ৫৩ ৪৪

৩২ ৫০

৮ ৫৮

২০

১ ২৪

৯ ২৭ ৫৫৫ ৯ ৩৮

-

Source httpwwwarthosuchakcomarchives388125

৩৫ ( ) ৩৫

২৪৫ ৩

১৭ ১১৯ ২১

ও - ১১

৯ ৬ - ৫ ৪

- ও ২

ও ১

Source httpwwwarthosuchakcomarchives388085

- ফ ৪০ ও - ৪০

৬ ( ) ৫ ৯ ৫ ৪৯২ ১১

৫৬ ৪৫১ ২৯

১২ ( ও)

( )

-

- ১০

( ও) ৮০

৪৯ ৩৭ ৯৮

ও ১৭ ১২ ঋ ও

১০ ও ৩ ১০

৩০ ২০১৬ ৩৫ ৬৩

৫ ( ) ৩ ৪৯

Daily News Flash 12th November 2017

37

Source httpwwwarthosuchakcomarchives387762

lsquo rsquo

( )

lsquo - rsquo

( ) ও

২০০২ ( ২ )

৫৪৬

ও ১৫

ও ১৫ ৭৫ ও

১০-১২ ১

১৫৫ ৬৭

ও ২০১০

ও ও ও -

ঋ ঋ

১৫ ৪ ৩

২ ২ ৪ ১৫ ৬

( )

Source httpwwwarthosuchakcomarchives388276

- ও ও

Daily News Flash 12th November 2017

38

৩৮ ও ৪৩

১০০ ৬১ ৫৮ ২২৫ ১ ০৫

Source httpwwwarthosuchakcomarchives387849

- ও ( -২)

৬ ও

ও ৫ ৩০০

ও ও

৭ ২০০

( ও )

ও ও

ও ও

২ - ও mdashlsquo

rsquo ও

-

৫ ৩০০

- ১০ - ৪২৯ -

৩২৮

- ১০

( )

২০১৪

( ও) ও ( )

( )

২ ও ও

ও ও ও

ও ২০১১- ও

ও ( )

Daily News Flash 12th November 2017

39

(১০ ) ৫ ৭৬৩

৬৩ ও

ও ( )

- ২০১৪ ও

ও ও

Source httpwwwprothom-alocomeconomyarticle1362971

ও ও

ও - ও

২০১৬-১৭ ২০ ও

ও ও lsquo rsquo

ও ১০ ও

৭৭ ২০১৭

১৬ ২৭ ও

২০১৬-২০১৭ ২০ lsquo rsquo

ও-

ও ও ও

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564382

ফ ( ও) ১১

ও ও

ও lsquo১১ ও rsquo

১০ ১৩

( ) ( )

Daily News Flash 12th November 2017

40

- ও

-

( )

( )

lsquo ও

rsquo ও

২৬ ১০

১৬

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564383

১ ৫০

ও ২০৫০

২৩

১৬ ৫৯ ২০১১

২০৩০

( )

ঋ ও ও

৬৮ ৬৭

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564384

ফ lsquo

ও ও

( ) ও

- ও

( ও ) ( )

Daily News Flash 12th November 2017

41

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564388

৪৫ ও

৮৪ ৮৩

৯২০

২৭ ২৪ ৭ ৩

৬ ৮৯

৯ ১ ৭২ ১৪ ৪৮

৪৫

ও ১৭ ৫০

১৯৩ ১০ ২০১৫-১৬ ৪১৩ ১০ ও ও

২০১৪-১৫ ৩৭৫ ৮০ ৩৫ ৭০

২০১৩-১৪ ৫১৫ ও

৮১ ২ ৫১ ৩ ২০

২ ও

৮৪

৮১

- ও

৮৩

৮২ ৯৫

ও ও - ও

ও ও ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17112200 - - - -

ও ৫০

ও ( ) ( )

ও ও

Daily News Flash 12th November 2017

42

ও ও

১০০

৮ ও

৩০০ ( )

ও ১৫০

২০০ ১০০

২০০

২৭ ৭

ও ও

ও ৩০ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111811 - - - -

-

২৭ ১১

১০

( ) ২৮৪

৬ ২৮ ৭ ১৫১

৭৪

ও - ও

ও - ও

ও ৩

৭ ১ ২৩

৯৪৪ ৮৮২ ১০

ও ৪ ৭ ও

৪ ৩৮ ও ১৫ ৪১ ২২ ৭০

২০ ৩৬ ১৩ ও

৪৬ ২২ ২০ ও

১৭ ৩৭১ ও ও

১৭ ও ৪৩ ও

Daily News Flash 12th November 2017

43

৬ ২০ ও ১৬

৩৫ ২০ ২৭

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111810 - - - - -

ও ও

১৩০ ও ১৪০

৫৫ ও ৯৭ ১১৩

৩৭

৩৪

৬১৯৩ ৬২ ১১৬১৭

৩০ ১৯

ও ও

ও - ও

৪৮ ৩১

১২ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111808 - - - - -

৩৫ ও ১০

ও ( ) ও

১০

ও ও -

২ ৩০০

২০১৪ ও

ও ৭ ২০১৪ ও ২০১৫

৫ ৭ ও ১২ ৮ ২৩

২০১৩ ১ ৪২০ ২০১৪ ১০ ৫ ১ ৫৭০

১৩ ৪ ও ১ ৩৫৮ ১০

২০১৬ ও ৩ ৫ ১ ৩১০ ২০১৪

২০১৬ mdash ২ ১ ঋ

১০ ও ২০১৩

২৯ ৮০ ২০১৪ ৫ ৭ ৩১ ৫০ ২০১৫

১২ ৩৫ ৩০ ২০১৬ ৭ ৩৭ ৮০

Daily News Flash 12th November 2017

44

২০১৪ ২০১৬

৩২ ৩৫ ও ৫০ ১৯

৫৬

১৭ ৪৬ ২০১৪ ২০১৬

৭২ ১০০ ও ১১১

২০১৪ ২০১৬ ১৫ ৬৩

৯১ ১১৪ ও ১১৮ ৮ ২৩

৮০ ৯০ ও

ও -

ও -

ও ও ও

১০ ও

১০ ও ২২

৭১ ১২ ৪২

৩২ ২৬ ও

ও ও

( ) ও

ও ২০২১ ও ও

৫ ১ ১৬

ও ও

Source httpbonikbartanetbanglanews2017-11-12137992 - - -- -

৫০০ ৫০০ ও

ও ৩০ ২০১৭

৫০০ ও ঋ ২০১৮

৩০

১ ২০ ও ১৫০

১১

Daily News Flash 12th November 2017

45

৩০০ ৬০০

( ) ও

১ ২৫ ও ১০

১০ ও

ঋ ও

৩০ ২০১৭ ৩ ও ১২ ও

( ) ২ ১৪ ২ ১

ও ৩০ ১১

( ) ও ও

( - ) ৬৬ ৫৫ ৩০

( ) ৩৪ ৯০

ও ও ও

( ) ও

ও ও ২০১৫ ৩০ ১০ ২০১৬

১২

( ) ৪১ ২০ ও ২৩ ৬০

৫০ ও

২০১৪ ৩০০ ও ১৪৮ ৪৬ ৫০

১৯১ ৬২ ৩৭ ৩১

১২ ৪৫ ৫০ ২৪

ও ( ) ১৬ ৫৩

ও ১৫ ২২

Source httpbonikbartanetbanglanews2017-11-12137966৫০০- - - - -ও -

৬৩

- ও ও

৬২ ৯৪ ৫

৬২

৯০

২০১৪ - -

- ও

২০১৬-১৭ ৫ ৬২ ও ২০১৩-১৪

১২

( ) ৯০

-

ও - - ও -

Daily News Flash 12th November 2017

46

- ও

৬২ ৯৪

২০১৩-১৪ ৭০ ৭৮ ২০১৪-১৫ ৫৪ ২২

২০১৫-১৬ ৩৯ ৩৩ ও ২৬ ২৩

ও ২০১৩-১৪

১২ ৩৬ ২০১৪-১৫ ৫ ৯১ ও ২০১৫-

১৬ ১৭ ৩০ ৫ ৬২

৩০ ২০১৭ ১০

২ ৮৬ ও ৩

ও ২৪ ( )

২৭

১৯৬৪ ১২

৪ ও ও ১৯৭২

ও ( )

ও ৩৪ ৮ ও

৯০

৪৫ ও ৫

১৯৬৪ ১৯৭২ ১৯৮৯

১০০ ও ২৬ ১৬ ২০ ৫৪৩ ৭৭

৫ - ৫১ ১৫ ৬০ ও

৩২ ৯০

Source httpbonikbartanetbanglanews2017-11-11137853 - - - - - -৬৩---

( ) ও

১০

ও ও ও

-

ও ও

ও ঋ ও

ও ২০১৪ ও

ও ও

২০১৩

( ) ও

Daily News Flash 12th November 2017

47

২০১৪

২০১৪-১৬ ও

২০১৪

ও ২০১৪

২০১৫ ২৭ lsquo ও rsquo

ও ও

২০১৬ ২৪

( )

ও ও

- ও

ও ও ১৯৮৩ ২০১৬

ঋ ( ) ৫৬০

৮৬৪

২০১৬ ২০১৯ ও

ও ১৫ ২৫ ৩০ ও ৩০

ও ঋ ও

২০১৬ ঋ ১

৩৪২ ঋ ৬ ৫২ ১২৩

ঋ ২ ৪৪৩ ঋ ১০

৮৪ ঋ ৪০

৭২৬

ও ২০১৬ ৭৪১

৪৫৭

২০৭ ২৪৪

১০ ও

ও ও ও ও ও

Daily News Flash 12th November 2017

48

Source httpbonikbartanetbanglanews2017-11-12137998 - - - - - ও- -

( )

৩০ ২০১৭ ২০

( ) ২ ১ ১ ৫৯ (

) ৩০ ( ) ১৫ ৩৭

ও ২৮ ১১

( ) ২৮

২০১৬ ৩০ ১৮ ২০

২০১৪ ও ২০

১৫ ৩০

১৮ ৮০ ও ৯ ৬০

Source httpbonikbartanetbanglanews2017-11-11137850 - - - -

ফ ৭ ২০১৭-১৮ ৭ ৩ ৭৪

( ) ও

( - ) ১ ১৫০ ৫৮

(২০১৬-১৭) ১ ৭৫ ৩ ৬০ ৭

৩ ১ ১৫৯ ২০ ৭৪

ও mdash

৬ ৬৫ ১৭ ৬৩

mdash ও ও

১৫ ৪১ ২২ ৬৯ ১০

১৯ ৬৬ ১০ ২০ ২২

mdash ও ও ও

৩৯ ৫১ ও ২ ও

১৬ ৪৬ ও ও ৬ ৯৯ ও

৩ ৮৫ ৯ ৯৫

১৯ ৮২

৮০

ও ( )

mdash

Daily News Flash 12th November 2017

49

ও ও

Source httpbonikbartanetbanglanews2017-11-10137755 - - - -৭- - --

ফ - ফ ও -ও

-ও

-ও

২৯-১০-২০১১ ৩ ( ) ২৮-১০-২০১৪

৩ ( ) ২৮-১১-২০১৬

২৮-১০-২০১৭ ৩ ( )

২০১৬-১৫৮১৩৪ ৪৪ ০৭-০৮-

২০১২ ১২(৬) ২ ( ) ৬ ( )

-ও - ও ২ ( )

৬ ( ) ও ও

-ও ৩ ( )

-

ও ও

১৯৯৪

২ ২২-০৫-২০১২ -ও ৩

- -

১৯৯৪

-ও

- ও

( )

১৯৯৪

১৯৯৪ -ও

Source httpwwwsharenews24comindexphppage=detailsampnc=1ampnews_id=6587

Daily News Flash 12th November 2017

50

ফ ফ

১৫ ও

-( ) ও

৪৯

১৬ ৮৫

৫১ ৪৯

৪ ৩৬

১৯১৩

১০০ ও ১৯০১ ১৯৬০

Source httpswwwdailystockbangladeshcom - - - -

- ( -১)

( ) ৮

৩০০ ও

( ) ১৬

- ২২৮ ৪৯ ১৮৩ ২০১৮

( ) ও

১৫০

( ) ও ৪০ ৩০

ও ও

ও ও

Source httpswwwdailystockbangladeshcom - - -

Page 33: Daily News Flash, 12th November, 2017 -  · PDF filebanglalink's revenue falls 4.57pc in q3 ... banks lack remedial strategy while npl rises worryingly

Daily News Flash 12th November 2017

33

It noted that the core index remained positive throughout the session as optimistic investors kept buying sector-wise stocks while some rebalanced their portfolios Meanwhile share price of newly listed Oimex Electrode continued to decline for the three consecutive sessions after unusual hike during its debut trading on Monday The companys share price fell 763 per cent to close at Tk 9810 on Thursday after jumping more than tenfold during the debut trading which experts termed unusual Block trade contributed Tk 241 million to the days total turnover with stocks like BATBC Square Pharmaceuticals Singer Bangladesh and Beximco Pharma dominating the block trade board Among the major sectors pharmaceuticals posted the highest gain of 122 per cent followed by banking sector (083 per cent) food amp allied (067 per cent) engineering (033 per cent) financial institutions (003 per cent) and power (003 per cent) Only telecommunication sector faced a 045 per cent correction A total number of 0140 million trades were executed in the days trading session with trading volume totalling 23171 million securities The total market capitalisation of the DSE stood at Tk 4179 billion against Tk 4168 billion in the previous session Losers however took a modest lead over the gainers as out of 325 issues traded 140 closed lower 130 closed higher and 55 remained unchanged on the DSE trading floor City Bank dominated the turnover chart for the second day in a row with 1035 million shares changing hands closely followed by Dhaka Bank LankaBangla Finance Brac Bank and Keya Cosmetics Reckitt Benckiser was also the days best performer posting a gain of 624 per cent while Qasem Drycells was the days biggest loser shedding 1235 per cent The port city bourse Chittagong Stock Exchange (CSE) also ended higher with its Selective Categories Index -- CSCX --gaining more than 62 points to close at 11618 Losers beat gainers as 113 issues closed lower 97 closed higher and 37 remained unchanged on the CSE The port city bourse traded 1604 million shares and mutual fund units generating a turnover of Tk 483 million Source httptodaythefinancialexpresscombdstock-corporatedse-turnover-crosses-tk-80-billion-mark-1510245247date=10-11-2017

TEN COS GRAB 32PC TURNOVER ON DSE The banking sector continued to dominate the transaction chart of the Dhaka Stock Exchange (DSE) accounting for 39 per cent of the total turnover on Thursday Four banks made their way to the top 10 turnover chart with City Bank leading the chart for the second day in a row Brokers said the investors chased the banking sector issues as more than 63 per cent of listed banks showed positive earnings in the third quarter (July-September period) Meanwhile top 10 traded companies including four banks grabbed more than 32 per cent of turnover on the Dhaka bourse The total turnover on the premier bourse reached Tk 870 billion up 14 per cent from the previous days Tk 765 billion The most active shares in terms of value included City Bank Dhaka Bank LankaBangla Finance Brac Bank Keya Cosmetics Square Pharmaceuticals Beximco Pharmaceuticals IFAD Autos Exim Bank and IDLC Finance According to statistics available with the DSE about 1035 million shares of City Bank were traded generating a turnover of Tk 553 million or 635 per cent of the total transactions

Daily News Flash 12th November 2017

34

The companys share price hovered between Tk 5240 and Tk 5440 before closing at Tk 5390 advancing 228 per cent over the previous session Dhaka Bank came in next with shares of Tk 395 million changing hands contributing 454 per cent to the total turnover The banks share price closed 347 per cent higher at Tk 2380 LankaBangla notched the third spot with shares of Tk 266 million changing hands making up 305 per cent of the total turnover Its share price ended 063 per cent higher at Tk 6430 Brac Bank emerged the fourth with shares of Tk 257 million changing hands grabbing 295 per cent of the total turnover The banks share price settled 123 per cent higher at Tk 107 Keya Cosmetics featured a turnover of Tk 247 million or 284 per cent of the total turnover Its share price closed 201 per cent higher at Tk 1520 The turnover of Square Pharma was Tk 241 million or 276 per cent of the total transaction Its share price ended 612 per cent down at Tk 27890 Beximco Pharma featured a turnover of Tk 211 million or 242 per cent of the total turnover Its share price advanced 428 per cent to close at Tk 10960 The turnover of IFAD was Tk 208 million accounting for 238 per cent of the total turnover Its share price closed at Tk 14070 gaining 195 per cent Exim Bank featured a turnover of Tk 196 million or 225 per cent of the total transaction The banks share price inched up 055 per cent to close at Tk 1830 IDLC also made its way to the top ten turnover chart with shares of Tk 188 million changing hands Its share price closed 223 per cent higher at Tk 9150 Source httptodaythefinancialexpresscombdstock-corporateten-cos-grab-32pc-turnover-on-dse-1510245290date=10-11-2017

FOREIGN INVESTMENT HIKE INFO DRIVES MODERATE GAINS ON DSE The Dhaka bourse Thursday closed the session posting a moderate rise in the broad index and turnover amid mixed performance displayed by major sectors On the day most of the major sectors declined but the turnover crossed Tk 80 billion-mark after two sessions on Dhaka Stock Exchange (DSE) mainly because of investors increased participation in the banking sector According to a market review of International Leasing Securities positive momentum in some big-cap stocks especially from bank food and engineering sectors helped the bourse to close in green The market started the session with a positive note and the DSE broad index DSEX witnessed little ups and downs before closing higher According to AT Capital Partners the market remained sideways till the midsession The DSEX rose again in the second half of the session and closed at 61936 up by 345 points The shariah based index DSES and blue chip index DS30 also rose marginally The turnover stood at above Tk 870 billion which was 1370 per cent higher than the turnover of the previous session The confident drive was initiated by the investors buying spree riding on the news of doubling net foreign investment in stocks year-on-year in the first ten months of 2017 said the International Leasing SecuritiesAmong the gaining sectors bank advanced 08 per cent and engineering 03 per cent Of the losing sectors pharmaceuticals amp chemicals declined 11 per cent telecommunication 05 per cent and textiles 09 per cent The banking sector grabbed 384 per cent of the market turnover at the premier bourse DSECity Bank topped the turnover chart with a value of Tk 553 million followed by Dhaka Bank LankaBangla Finance BRAC Bank and Keya CosmeticsReckitt Benckiser (Bd) limited topped the gainers chart with a rise of 624 per cent to close at Tk 18456 while Quasem Drycells was the worst loser after declining 1235 per cent to close at Tk 8230 Source httptodaythefinancialexpresscombdstock-corporateforeign-investment-hike-info-drives-moderate-gains-on-dse-1510245365date=10-11-2017

Daily News Flash 12th November 2017

35

MORE JAPANESE COMPANIES SEEK TO INVEST IN BANGLADESH Japanese Ambassador to Bangladesh Hiroyasu Izumi has said the Japanese investors are keen to invest in Bangladesh considering the lucrative offer and ideal atmosphere for foreign investment reports BSS The Japanese investors expressed more interest to invest in Bangladesh at recently-held the third round of Public-Private Economic Dialogue between Bangladesh and Japan he said while visiting the Chittagong Export Processing Zone (CEPZ) on Thursday The envoy expressed the hopes that Japanese investment in the Export Processing Zones (EPZs) will increase after the successful dialogue said a press release More and more Japanese companies will come to invest in this country he added General Manager of CEPZ Khorshid Alam maed a PowerPoint presentation highlighting the overall scenario of EPZ as well as Bangladesh Export Processing Zone Authority (BEPZA) Mentioning Bangladesh EPZs as the Bonanza for Investors he said investors from 38 countries have set up industries in the EPZs and invested US $442 billion He informed the ambassador that BEPZA has ensured three layer security system including 24-hour CCTV surveillance in the key points of EPZ and factory premises for the safety of the investors Source httptodaythefinancialexpresscombdtrade-marketmore-japanese-companies-seek-to-invest-in-bangladesh-1510250285date=10-11-2017

Source httpwwwarthosuchakcomarchives388209

১৬০

১১৫ ৪ ৫ ১০ ২০

৩০ ( )

( )

৩০ ২০১৭ ১৫

৩ ও ১২

২ ১৪ ( ) ৩৪

২৪

Source httpwwwarthosuchakcomarchives388257

Daily News Flash 12th November 2017

36

৫৩ ( ) ১৫ ও ২

১ ১ ৪৩ ২১০ ৫৩ ৪৪

৩২ ৫০

৮ ৫৮

২০

১ ২৪

৯ ২৭ ৫৫৫ ৯ ৩৮

-

Source httpwwwarthosuchakcomarchives388125

৩৫ ( ) ৩৫

২৪৫ ৩

১৭ ১১৯ ২১

ও - ১১

৯ ৬ - ৫ ৪

- ও ২

ও ১

Source httpwwwarthosuchakcomarchives388085

- ফ ৪০ ও - ৪০

৬ ( ) ৫ ৯ ৫ ৪৯২ ১১

৫৬ ৪৫১ ২৯

১২ ( ও)

( )

-

- ১০

( ও) ৮০

৪৯ ৩৭ ৯৮

ও ১৭ ১২ ঋ ও

১০ ও ৩ ১০

৩০ ২০১৬ ৩৫ ৬৩

৫ ( ) ৩ ৪৯

Daily News Flash 12th November 2017

37

Source httpwwwarthosuchakcomarchives387762

lsquo rsquo

( )

lsquo - rsquo

( ) ও

২০০২ ( ২ )

৫৪৬

ও ১৫

ও ১৫ ৭৫ ও

১০-১২ ১

১৫৫ ৬৭

ও ২০১০

ও ও ও -

ঋ ঋ

১৫ ৪ ৩

২ ২ ৪ ১৫ ৬

( )

Source httpwwwarthosuchakcomarchives388276

- ও ও

Daily News Flash 12th November 2017

38

৩৮ ও ৪৩

১০০ ৬১ ৫৮ ২২৫ ১ ০৫

Source httpwwwarthosuchakcomarchives387849

- ও ( -২)

৬ ও

ও ৫ ৩০০

ও ও

৭ ২০০

( ও )

ও ও

ও ও

২ - ও mdashlsquo

rsquo ও

-

৫ ৩০০

- ১০ - ৪২৯ -

৩২৮

- ১০

( )

২০১৪

( ও) ও ( )

( )

২ ও ও

ও ও ও

ও ২০১১- ও

ও ( )

Daily News Flash 12th November 2017

39

(১০ ) ৫ ৭৬৩

৬৩ ও

ও ( )

- ২০১৪ ও

ও ও

Source httpwwwprothom-alocomeconomyarticle1362971

ও ও

ও - ও

২০১৬-১৭ ২০ ও

ও ও lsquo rsquo

ও ১০ ও

৭৭ ২০১৭

১৬ ২৭ ও

২০১৬-২০১৭ ২০ lsquo rsquo

ও-

ও ও ও

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564382

ফ ( ও) ১১

ও ও

ও lsquo১১ ও rsquo

১০ ১৩

( ) ( )

Daily News Flash 12th November 2017

40

- ও

-

( )

( )

lsquo ও

rsquo ও

২৬ ১০

১৬

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564383

১ ৫০

ও ২০৫০

২৩

১৬ ৫৯ ২০১১

২০৩০

( )

ঋ ও ও

৬৮ ৬৭

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564384

ফ lsquo

ও ও

( ) ও

- ও

( ও ) ( )

Daily News Flash 12th November 2017

41

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564388

৪৫ ও

৮৪ ৮৩

৯২০

২৭ ২৪ ৭ ৩

৬ ৮৯

৯ ১ ৭২ ১৪ ৪৮

৪৫

ও ১৭ ৫০

১৯৩ ১০ ২০১৫-১৬ ৪১৩ ১০ ও ও

২০১৪-১৫ ৩৭৫ ৮০ ৩৫ ৭০

২০১৩-১৪ ৫১৫ ও

৮১ ২ ৫১ ৩ ২০

২ ও

৮৪

৮১

- ও

৮৩

৮২ ৯৫

ও ও - ও

ও ও ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17112200 - - - -

ও ৫০

ও ( ) ( )

ও ও

Daily News Flash 12th November 2017

42

ও ও

১০০

৮ ও

৩০০ ( )

ও ১৫০

২০০ ১০০

২০০

২৭ ৭

ও ও

ও ৩০ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111811 - - - -

-

২৭ ১১

১০

( ) ২৮৪

৬ ২৮ ৭ ১৫১

৭৪

ও - ও

ও - ও

ও ৩

৭ ১ ২৩

৯৪৪ ৮৮২ ১০

ও ৪ ৭ ও

৪ ৩৮ ও ১৫ ৪১ ২২ ৭০

২০ ৩৬ ১৩ ও

৪৬ ২২ ২০ ও

১৭ ৩৭১ ও ও

১৭ ও ৪৩ ও

Daily News Flash 12th November 2017

43

৬ ২০ ও ১৬

৩৫ ২০ ২৭

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111810 - - - - -

ও ও

১৩০ ও ১৪০

৫৫ ও ৯৭ ১১৩

৩৭

৩৪

৬১৯৩ ৬২ ১১৬১৭

৩০ ১৯

ও ও

ও - ও

৪৮ ৩১

১২ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111808 - - - - -

৩৫ ও ১০

ও ( ) ও

১০

ও ও -

২ ৩০০

২০১৪ ও

ও ৭ ২০১৪ ও ২০১৫

৫ ৭ ও ১২ ৮ ২৩

২০১৩ ১ ৪২০ ২০১৪ ১০ ৫ ১ ৫৭০

১৩ ৪ ও ১ ৩৫৮ ১০

২০১৬ ও ৩ ৫ ১ ৩১০ ২০১৪

২০১৬ mdash ২ ১ ঋ

১০ ও ২০১৩

২৯ ৮০ ২০১৪ ৫ ৭ ৩১ ৫০ ২০১৫

১২ ৩৫ ৩০ ২০১৬ ৭ ৩৭ ৮০

Daily News Flash 12th November 2017

44

২০১৪ ২০১৬

৩২ ৩৫ ও ৫০ ১৯

৫৬

১৭ ৪৬ ২০১৪ ২০১৬

৭২ ১০০ ও ১১১

২০১৪ ২০১৬ ১৫ ৬৩

৯১ ১১৪ ও ১১৮ ৮ ২৩

৮০ ৯০ ও

ও -

ও -

ও ও ও

১০ ও

১০ ও ২২

৭১ ১২ ৪২

৩২ ২৬ ও

ও ও

( ) ও

ও ২০২১ ও ও

৫ ১ ১৬

ও ও

Source httpbonikbartanetbanglanews2017-11-12137992 - - -- -

৫০০ ৫০০ ও

ও ৩০ ২০১৭

৫০০ ও ঋ ২০১৮

৩০

১ ২০ ও ১৫০

১১

Daily News Flash 12th November 2017

45

৩০০ ৬০০

( ) ও

১ ২৫ ও ১০

১০ ও

ঋ ও

৩০ ২০১৭ ৩ ও ১২ ও

( ) ২ ১৪ ২ ১

ও ৩০ ১১

( ) ও ও

( - ) ৬৬ ৫৫ ৩০

( ) ৩৪ ৯০

ও ও ও

( ) ও

ও ও ২০১৫ ৩০ ১০ ২০১৬

১২

( ) ৪১ ২০ ও ২৩ ৬০

৫০ ও

২০১৪ ৩০০ ও ১৪৮ ৪৬ ৫০

১৯১ ৬২ ৩৭ ৩১

১২ ৪৫ ৫০ ২৪

ও ( ) ১৬ ৫৩

ও ১৫ ২২

Source httpbonikbartanetbanglanews2017-11-12137966৫০০- - - - -ও -

৬৩

- ও ও

৬২ ৯৪ ৫

৬২

৯০

২০১৪ - -

- ও

২০১৬-১৭ ৫ ৬২ ও ২০১৩-১৪

১২

( ) ৯০

-

ও - - ও -

Daily News Flash 12th November 2017

46

- ও

৬২ ৯৪

২০১৩-১৪ ৭০ ৭৮ ২০১৪-১৫ ৫৪ ২২

২০১৫-১৬ ৩৯ ৩৩ ও ২৬ ২৩

ও ২০১৩-১৪

১২ ৩৬ ২০১৪-১৫ ৫ ৯১ ও ২০১৫-

১৬ ১৭ ৩০ ৫ ৬২

৩০ ২০১৭ ১০

২ ৮৬ ও ৩

ও ২৪ ( )

২৭

১৯৬৪ ১২

৪ ও ও ১৯৭২

ও ( )

ও ৩৪ ৮ ও

৯০

৪৫ ও ৫

১৯৬৪ ১৯৭২ ১৯৮৯

১০০ ও ২৬ ১৬ ২০ ৫৪৩ ৭৭

৫ - ৫১ ১৫ ৬০ ও

৩২ ৯০

Source httpbonikbartanetbanglanews2017-11-11137853 - - - - - -৬৩---

( ) ও

১০

ও ও ও

-

ও ও

ও ঋ ও

ও ২০১৪ ও

ও ও

২০১৩

( ) ও

Daily News Flash 12th November 2017

47

২০১৪

২০১৪-১৬ ও

২০১৪

ও ২০১৪

২০১৫ ২৭ lsquo ও rsquo

ও ও

২০১৬ ২৪

( )

ও ও

- ও

ও ও ১৯৮৩ ২০১৬

ঋ ( ) ৫৬০

৮৬৪

২০১৬ ২০১৯ ও

ও ১৫ ২৫ ৩০ ও ৩০

ও ঋ ও

২০১৬ ঋ ১

৩৪২ ঋ ৬ ৫২ ১২৩

ঋ ২ ৪৪৩ ঋ ১০

৮৪ ঋ ৪০

৭২৬

ও ২০১৬ ৭৪১

৪৫৭

২০৭ ২৪৪

১০ ও

ও ও ও ও ও

Daily News Flash 12th November 2017

48

Source httpbonikbartanetbanglanews2017-11-12137998 - - - - - ও- -

( )

৩০ ২০১৭ ২০

( ) ২ ১ ১ ৫৯ (

) ৩০ ( ) ১৫ ৩৭

ও ২৮ ১১

( ) ২৮

২০১৬ ৩০ ১৮ ২০

২০১৪ ও ২০

১৫ ৩০

১৮ ৮০ ও ৯ ৬০

Source httpbonikbartanetbanglanews2017-11-11137850 - - - -

ফ ৭ ২০১৭-১৮ ৭ ৩ ৭৪

( ) ও

( - ) ১ ১৫০ ৫৮

(২০১৬-১৭) ১ ৭৫ ৩ ৬০ ৭

৩ ১ ১৫৯ ২০ ৭৪

ও mdash

৬ ৬৫ ১৭ ৬৩

mdash ও ও

১৫ ৪১ ২২ ৬৯ ১০

১৯ ৬৬ ১০ ২০ ২২

mdash ও ও ও

৩৯ ৫১ ও ২ ও

১৬ ৪৬ ও ও ৬ ৯৯ ও

৩ ৮৫ ৯ ৯৫

১৯ ৮২

৮০

ও ( )

mdash

Daily News Flash 12th November 2017

49

ও ও

Source httpbonikbartanetbanglanews2017-11-10137755 - - - -৭- - --

ফ - ফ ও -ও

-ও

-ও

২৯-১০-২০১১ ৩ ( ) ২৮-১০-২০১৪

৩ ( ) ২৮-১১-২০১৬

২৮-১০-২০১৭ ৩ ( )

২০১৬-১৫৮১৩৪ ৪৪ ০৭-০৮-

২০১২ ১২(৬) ২ ( ) ৬ ( )

-ও - ও ২ ( )

৬ ( ) ও ও

-ও ৩ ( )

-

ও ও

১৯৯৪

২ ২২-০৫-২০১২ -ও ৩

- -

১৯৯৪

-ও

- ও

( )

১৯৯৪

১৯৯৪ -ও

Source httpwwwsharenews24comindexphppage=detailsampnc=1ampnews_id=6587

Daily News Flash 12th November 2017

50

ফ ফ

১৫ ও

-( ) ও

৪৯

১৬ ৮৫

৫১ ৪৯

৪ ৩৬

১৯১৩

১০০ ও ১৯০১ ১৯৬০

Source httpswwwdailystockbangladeshcom - - - -

- ( -১)

( ) ৮

৩০০ ও

( ) ১৬

- ২২৮ ৪৯ ১৮৩ ২০১৮

( ) ও

১৫০

( ) ও ৪০ ৩০

ও ও

ও ও

Source httpswwwdailystockbangladeshcom - - -

Page 34: Daily News Flash, 12th November, 2017 -  · PDF filebanglalink's revenue falls 4.57pc in q3 ... banks lack remedial strategy while npl rises worryingly

Daily News Flash 12th November 2017

34

The companys share price hovered between Tk 5240 and Tk 5440 before closing at Tk 5390 advancing 228 per cent over the previous session Dhaka Bank came in next with shares of Tk 395 million changing hands contributing 454 per cent to the total turnover The banks share price closed 347 per cent higher at Tk 2380 LankaBangla notched the third spot with shares of Tk 266 million changing hands making up 305 per cent of the total turnover Its share price ended 063 per cent higher at Tk 6430 Brac Bank emerged the fourth with shares of Tk 257 million changing hands grabbing 295 per cent of the total turnover The banks share price settled 123 per cent higher at Tk 107 Keya Cosmetics featured a turnover of Tk 247 million or 284 per cent of the total turnover Its share price closed 201 per cent higher at Tk 1520 The turnover of Square Pharma was Tk 241 million or 276 per cent of the total transaction Its share price ended 612 per cent down at Tk 27890 Beximco Pharma featured a turnover of Tk 211 million or 242 per cent of the total turnover Its share price advanced 428 per cent to close at Tk 10960 The turnover of IFAD was Tk 208 million accounting for 238 per cent of the total turnover Its share price closed at Tk 14070 gaining 195 per cent Exim Bank featured a turnover of Tk 196 million or 225 per cent of the total transaction The banks share price inched up 055 per cent to close at Tk 1830 IDLC also made its way to the top ten turnover chart with shares of Tk 188 million changing hands Its share price closed 223 per cent higher at Tk 9150 Source httptodaythefinancialexpresscombdstock-corporateten-cos-grab-32pc-turnover-on-dse-1510245290date=10-11-2017

FOREIGN INVESTMENT HIKE INFO DRIVES MODERATE GAINS ON DSE The Dhaka bourse Thursday closed the session posting a moderate rise in the broad index and turnover amid mixed performance displayed by major sectors On the day most of the major sectors declined but the turnover crossed Tk 80 billion-mark after two sessions on Dhaka Stock Exchange (DSE) mainly because of investors increased participation in the banking sector According to a market review of International Leasing Securities positive momentum in some big-cap stocks especially from bank food and engineering sectors helped the bourse to close in green The market started the session with a positive note and the DSE broad index DSEX witnessed little ups and downs before closing higher According to AT Capital Partners the market remained sideways till the midsession The DSEX rose again in the second half of the session and closed at 61936 up by 345 points The shariah based index DSES and blue chip index DS30 also rose marginally The turnover stood at above Tk 870 billion which was 1370 per cent higher than the turnover of the previous session The confident drive was initiated by the investors buying spree riding on the news of doubling net foreign investment in stocks year-on-year in the first ten months of 2017 said the International Leasing SecuritiesAmong the gaining sectors bank advanced 08 per cent and engineering 03 per cent Of the losing sectors pharmaceuticals amp chemicals declined 11 per cent telecommunication 05 per cent and textiles 09 per cent The banking sector grabbed 384 per cent of the market turnover at the premier bourse DSECity Bank topped the turnover chart with a value of Tk 553 million followed by Dhaka Bank LankaBangla Finance BRAC Bank and Keya CosmeticsReckitt Benckiser (Bd) limited topped the gainers chart with a rise of 624 per cent to close at Tk 18456 while Quasem Drycells was the worst loser after declining 1235 per cent to close at Tk 8230 Source httptodaythefinancialexpresscombdstock-corporateforeign-investment-hike-info-drives-moderate-gains-on-dse-1510245365date=10-11-2017

Daily News Flash 12th November 2017

35

MORE JAPANESE COMPANIES SEEK TO INVEST IN BANGLADESH Japanese Ambassador to Bangladesh Hiroyasu Izumi has said the Japanese investors are keen to invest in Bangladesh considering the lucrative offer and ideal atmosphere for foreign investment reports BSS The Japanese investors expressed more interest to invest in Bangladesh at recently-held the third round of Public-Private Economic Dialogue between Bangladesh and Japan he said while visiting the Chittagong Export Processing Zone (CEPZ) on Thursday The envoy expressed the hopes that Japanese investment in the Export Processing Zones (EPZs) will increase after the successful dialogue said a press release More and more Japanese companies will come to invest in this country he added General Manager of CEPZ Khorshid Alam maed a PowerPoint presentation highlighting the overall scenario of EPZ as well as Bangladesh Export Processing Zone Authority (BEPZA) Mentioning Bangladesh EPZs as the Bonanza for Investors he said investors from 38 countries have set up industries in the EPZs and invested US $442 billion He informed the ambassador that BEPZA has ensured three layer security system including 24-hour CCTV surveillance in the key points of EPZ and factory premises for the safety of the investors Source httptodaythefinancialexpresscombdtrade-marketmore-japanese-companies-seek-to-invest-in-bangladesh-1510250285date=10-11-2017

Source httpwwwarthosuchakcomarchives388209

১৬০

১১৫ ৪ ৫ ১০ ২০

৩০ ( )

( )

৩০ ২০১৭ ১৫

৩ ও ১২

২ ১৪ ( ) ৩৪

২৪

Source httpwwwarthosuchakcomarchives388257

Daily News Flash 12th November 2017

36

৫৩ ( ) ১৫ ও ২

১ ১ ৪৩ ২১০ ৫৩ ৪৪

৩২ ৫০

৮ ৫৮

২০

১ ২৪

৯ ২৭ ৫৫৫ ৯ ৩৮

-

Source httpwwwarthosuchakcomarchives388125

৩৫ ( ) ৩৫

২৪৫ ৩

১৭ ১১৯ ২১

ও - ১১

৯ ৬ - ৫ ৪

- ও ২

ও ১

Source httpwwwarthosuchakcomarchives388085

- ফ ৪০ ও - ৪০

৬ ( ) ৫ ৯ ৫ ৪৯২ ১১

৫৬ ৪৫১ ২৯

১২ ( ও)

( )

-

- ১০

( ও) ৮০

৪৯ ৩৭ ৯৮

ও ১৭ ১২ ঋ ও

১০ ও ৩ ১০

৩০ ২০১৬ ৩৫ ৬৩

৫ ( ) ৩ ৪৯

Daily News Flash 12th November 2017

37

Source httpwwwarthosuchakcomarchives387762

lsquo rsquo

( )

lsquo - rsquo

( ) ও

২০০২ ( ২ )

৫৪৬

ও ১৫

ও ১৫ ৭৫ ও

১০-১২ ১

১৫৫ ৬৭

ও ২০১০

ও ও ও -

ঋ ঋ

১৫ ৪ ৩

২ ২ ৪ ১৫ ৬

( )

Source httpwwwarthosuchakcomarchives388276

- ও ও

Daily News Flash 12th November 2017

38

৩৮ ও ৪৩

১০০ ৬১ ৫৮ ২২৫ ১ ০৫

Source httpwwwarthosuchakcomarchives387849

- ও ( -২)

৬ ও

ও ৫ ৩০০

ও ও

৭ ২০০

( ও )

ও ও

ও ও

২ - ও mdashlsquo

rsquo ও

-

৫ ৩০০

- ১০ - ৪২৯ -

৩২৮

- ১০

( )

২০১৪

( ও) ও ( )

( )

২ ও ও

ও ও ও

ও ২০১১- ও

ও ( )

Daily News Flash 12th November 2017

39

(১০ ) ৫ ৭৬৩

৬৩ ও

ও ( )

- ২০১৪ ও

ও ও

Source httpwwwprothom-alocomeconomyarticle1362971

ও ও

ও - ও

২০১৬-১৭ ২০ ও

ও ও lsquo rsquo

ও ১০ ও

৭৭ ২০১৭

১৬ ২৭ ও

২০১৬-২০১৭ ২০ lsquo rsquo

ও-

ও ও ও

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564382

ফ ( ও) ১১

ও ও

ও lsquo১১ ও rsquo

১০ ১৩

( ) ( )

Daily News Flash 12th November 2017

40

- ও

-

( )

( )

lsquo ও

rsquo ও

২৬ ১০

১৬

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564383

১ ৫০

ও ২০৫০

২৩

১৬ ৫৯ ২০১১

২০৩০

( )

ঋ ও ও

৬৮ ৬৭

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564384

ফ lsquo

ও ও

( ) ও

- ও

( ও ) ( )

Daily News Flash 12th November 2017

41

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564388

৪৫ ও

৮৪ ৮৩

৯২০

২৭ ২৪ ৭ ৩

৬ ৮৯

৯ ১ ৭২ ১৪ ৪৮

৪৫

ও ১৭ ৫০

১৯৩ ১০ ২০১৫-১৬ ৪১৩ ১০ ও ও

২০১৪-১৫ ৩৭৫ ৮০ ৩৫ ৭০

২০১৩-১৪ ৫১৫ ও

৮১ ২ ৫১ ৩ ২০

২ ও

৮৪

৮১

- ও

৮৩

৮২ ৯৫

ও ও - ও

ও ও ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17112200 - - - -

ও ৫০

ও ( ) ( )

ও ও

Daily News Flash 12th November 2017

42

ও ও

১০০

৮ ও

৩০০ ( )

ও ১৫০

২০০ ১০০

২০০

২৭ ৭

ও ও

ও ৩০ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111811 - - - -

-

২৭ ১১

১০

( ) ২৮৪

৬ ২৮ ৭ ১৫১

৭৪

ও - ও

ও - ও

ও ৩

৭ ১ ২৩

৯৪৪ ৮৮২ ১০

ও ৪ ৭ ও

৪ ৩৮ ও ১৫ ৪১ ২২ ৭০

২০ ৩৬ ১৩ ও

৪৬ ২২ ২০ ও

১৭ ৩৭১ ও ও

১৭ ও ৪৩ ও

Daily News Flash 12th November 2017

43

৬ ২০ ও ১৬

৩৫ ২০ ২৭

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111810 - - - - -

ও ও

১৩০ ও ১৪০

৫৫ ও ৯৭ ১১৩

৩৭

৩৪

৬১৯৩ ৬২ ১১৬১৭

৩০ ১৯

ও ও

ও - ও

৪৮ ৩১

১২ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111808 - - - - -

৩৫ ও ১০

ও ( ) ও

১০

ও ও -

২ ৩০০

২০১৪ ও

ও ৭ ২০১৪ ও ২০১৫

৫ ৭ ও ১২ ৮ ২৩

২০১৩ ১ ৪২০ ২০১৪ ১০ ৫ ১ ৫৭০

১৩ ৪ ও ১ ৩৫৮ ১০

২০১৬ ও ৩ ৫ ১ ৩১০ ২০১৪

২০১৬ mdash ২ ১ ঋ

১০ ও ২০১৩

২৯ ৮০ ২০১৪ ৫ ৭ ৩১ ৫০ ২০১৫

১২ ৩৫ ৩০ ২০১৬ ৭ ৩৭ ৮০

Daily News Flash 12th November 2017

44

২০১৪ ২০১৬

৩২ ৩৫ ও ৫০ ১৯

৫৬

১৭ ৪৬ ২০১৪ ২০১৬

৭২ ১০০ ও ১১১

২০১৪ ২০১৬ ১৫ ৬৩

৯১ ১১৪ ও ১১৮ ৮ ২৩

৮০ ৯০ ও

ও -

ও -

ও ও ও

১০ ও

১০ ও ২২

৭১ ১২ ৪২

৩২ ২৬ ও

ও ও

( ) ও

ও ২০২১ ও ও

৫ ১ ১৬

ও ও

Source httpbonikbartanetbanglanews2017-11-12137992 - - -- -

৫০০ ৫০০ ও

ও ৩০ ২০১৭

৫০০ ও ঋ ২০১৮

৩০

১ ২০ ও ১৫০

১১

Daily News Flash 12th November 2017

45

৩০০ ৬০০

( ) ও

১ ২৫ ও ১০

১০ ও

ঋ ও

৩০ ২০১৭ ৩ ও ১২ ও

( ) ২ ১৪ ২ ১

ও ৩০ ১১

( ) ও ও

( - ) ৬৬ ৫৫ ৩০

( ) ৩৪ ৯০

ও ও ও

( ) ও

ও ও ২০১৫ ৩০ ১০ ২০১৬

১২

( ) ৪১ ২০ ও ২৩ ৬০

৫০ ও

২০১৪ ৩০০ ও ১৪৮ ৪৬ ৫০

১৯১ ৬২ ৩৭ ৩১

১২ ৪৫ ৫০ ২৪

ও ( ) ১৬ ৫৩

ও ১৫ ২২

Source httpbonikbartanetbanglanews2017-11-12137966৫০০- - - - -ও -

৬৩

- ও ও

৬২ ৯৪ ৫

৬২

৯০

২০১৪ - -

- ও

২০১৬-১৭ ৫ ৬২ ও ২০১৩-১৪

১২

( ) ৯০

-

ও - - ও -

Daily News Flash 12th November 2017

46

- ও

৬২ ৯৪

২০১৩-১৪ ৭০ ৭৮ ২০১৪-১৫ ৫৪ ২২

২০১৫-১৬ ৩৯ ৩৩ ও ২৬ ২৩

ও ২০১৩-১৪

১২ ৩৬ ২০১৪-১৫ ৫ ৯১ ও ২০১৫-

১৬ ১৭ ৩০ ৫ ৬২

৩০ ২০১৭ ১০

২ ৮৬ ও ৩

ও ২৪ ( )

২৭

১৯৬৪ ১২

৪ ও ও ১৯৭২

ও ( )

ও ৩৪ ৮ ও

৯০

৪৫ ও ৫

১৯৬৪ ১৯৭২ ১৯৮৯

১০০ ও ২৬ ১৬ ২০ ৫৪৩ ৭৭

৫ - ৫১ ১৫ ৬০ ও

৩২ ৯০

Source httpbonikbartanetbanglanews2017-11-11137853 - - - - - -৬৩---

( ) ও

১০

ও ও ও

-

ও ও

ও ঋ ও

ও ২০১৪ ও

ও ও

২০১৩

( ) ও

Daily News Flash 12th November 2017

47

২০১৪

২০১৪-১৬ ও

২০১৪

ও ২০১৪

২০১৫ ২৭ lsquo ও rsquo

ও ও

২০১৬ ২৪

( )

ও ও

- ও

ও ও ১৯৮৩ ২০১৬

ঋ ( ) ৫৬০

৮৬৪

২০১৬ ২০১৯ ও

ও ১৫ ২৫ ৩০ ও ৩০

ও ঋ ও

২০১৬ ঋ ১

৩৪২ ঋ ৬ ৫২ ১২৩

ঋ ২ ৪৪৩ ঋ ১০

৮৪ ঋ ৪০

৭২৬

ও ২০১৬ ৭৪১

৪৫৭

২০৭ ২৪৪

১০ ও

ও ও ও ও ও

Daily News Flash 12th November 2017

48

Source httpbonikbartanetbanglanews2017-11-12137998 - - - - - ও- -

( )

৩০ ২০১৭ ২০

( ) ২ ১ ১ ৫৯ (

) ৩০ ( ) ১৫ ৩৭

ও ২৮ ১১

( ) ২৮

২০১৬ ৩০ ১৮ ২০

২০১৪ ও ২০

১৫ ৩০

১৮ ৮০ ও ৯ ৬০

Source httpbonikbartanetbanglanews2017-11-11137850 - - - -

ফ ৭ ২০১৭-১৮ ৭ ৩ ৭৪

( ) ও

( - ) ১ ১৫০ ৫৮

(২০১৬-১৭) ১ ৭৫ ৩ ৬০ ৭

৩ ১ ১৫৯ ২০ ৭৪

ও mdash

৬ ৬৫ ১৭ ৬৩

mdash ও ও

১৫ ৪১ ২২ ৬৯ ১০

১৯ ৬৬ ১০ ২০ ২২

mdash ও ও ও

৩৯ ৫১ ও ২ ও

১৬ ৪৬ ও ও ৬ ৯৯ ও

৩ ৮৫ ৯ ৯৫

১৯ ৮২

৮০

ও ( )

mdash

Daily News Flash 12th November 2017

49

ও ও

Source httpbonikbartanetbanglanews2017-11-10137755 - - - -৭- - --

ফ - ফ ও -ও

-ও

-ও

২৯-১০-২০১১ ৩ ( ) ২৮-১০-২০১৪

৩ ( ) ২৮-১১-২০১৬

২৮-১০-২০১৭ ৩ ( )

২০১৬-১৫৮১৩৪ ৪৪ ০৭-০৮-

২০১২ ১২(৬) ২ ( ) ৬ ( )

-ও - ও ২ ( )

৬ ( ) ও ও

-ও ৩ ( )

-

ও ও

১৯৯৪

২ ২২-০৫-২০১২ -ও ৩

- -

১৯৯৪

-ও

- ও

( )

১৯৯৪

১৯৯৪ -ও

Source httpwwwsharenews24comindexphppage=detailsampnc=1ampnews_id=6587

Daily News Flash 12th November 2017

50

ফ ফ

১৫ ও

-( ) ও

৪৯

১৬ ৮৫

৫১ ৪৯

৪ ৩৬

১৯১৩

১০০ ও ১৯০১ ১৯৬০

Source httpswwwdailystockbangladeshcom - - - -

- ( -১)

( ) ৮

৩০০ ও

( ) ১৬

- ২২৮ ৪৯ ১৮৩ ২০১৮

( ) ও

১৫০

( ) ও ৪০ ৩০

ও ও

ও ও

Source httpswwwdailystockbangladeshcom - - -

Page 35: Daily News Flash, 12th November, 2017 -  · PDF filebanglalink's revenue falls 4.57pc in q3 ... banks lack remedial strategy while npl rises worryingly

Daily News Flash 12th November 2017

35

MORE JAPANESE COMPANIES SEEK TO INVEST IN BANGLADESH Japanese Ambassador to Bangladesh Hiroyasu Izumi has said the Japanese investors are keen to invest in Bangladesh considering the lucrative offer and ideal atmosphere for foreign investment reports BSS The Japanese investors expressed more interest to invest in Bangladesh at recently-held the third round of Public-Private Economic Dialogue between Bangladesh and Japan he said while visiting the Chittagong Export Processing Zone (CEPZ) on Thursday The envoy expressed the hopes that Japanese investment in the Export Processing Zones (EPZs) will increase after the successful dialogue said a press release More and more Japanese companies will come to invest in this country he added General Manager of CEPZ Khorshid Alam maed a PowerPoint presentation highlighting the overall scenario of EPZ as well as Bangladesh Export Processing Zone Authority (BEPZA) Mentioning Bangladesh EPZs as the Bonanza for Investors he said investors from 38 countries have set up industries in the EPZs and invested US $442 billion He informed the ambassador that BEPZA has ensured three layer security system including 24-hour CCTV surveillance in the key points of EPZ and factory premises for the safety of the investors Source httptodaythefinancialexpresscombdtrade-marketmore-japanese-companies-seek-to-invest-in-bangladesh-1510250285date=10-11-2017

Source httpwwwarthosuchakcomarchives388209

১৬০

১১৫ ৪ ৫ ১০ ২০

৩০ ( )

( )

৩০ ২০১৭ ১৫

৩ ও ১২

২ ১৪ ( ) ৩৪

২৪

Source httpwwwarthosuchakcomarchives388257

Daily News Flash 12th November 2017

36

৫৩ ( ) ১৫ ও ২

১ ১ ৪৩ ২১০ ৫৩ ৪৪

৩২ ৫০

৮ ৫৮

২০

১ ২৪

৯ ২৭ ৫৫৫ ৯ ৩৮

-

Source httpwwwarthosuchakcomarchives388125

৩৫ ( ) ৩৫

২৪৫ ৩

১৭ ১১৯ ২১

ও - ১১

৯ ৬ - ৫ ৪

- ও ২

ও ১

Source httpwwwarthosuchakcomarchives388085

- ফ ৪০ ও - ৪০

৬ ( ) ৫ ৯ ৫ ৪৯২ ১১

৫৬ ৪৫১ ২৯

১২ ( ও)

( )

-

- ১০

( ও) ৮০

৪৯ ৩৭ ৯৮

ও ১৭ ১২ ঋ ও

১০ ও ৩ ১০

৩০ ২০১৬ ৩৫ ৬৩

৫ ( ) ৩ ৪৯

Daily News Flash 12th November 2017

37

Source httpwwwarthosuchakcomarchives387762

lsquo rsquo

( )

lsquo - rsquo

( ) ও

২০০২ ( ২ )

৫৪৬

ও ১৫

ও ১৫ ৭৫ ও

১০-১২ ১

১৫৫ ৬৭

ও ২০১০

ও ও ও -

ঋ ঋ

১৫ ৪ ৩

২ ২ ৪ ১৫ ৬

( )

Source httpwwwarthosuchakcomarchives388276

- ও ও

Daily News Flash 12th November 2017

38

৩৮ ও ৪৩

১০০ ৬১ ৫৮ ২২৫ ১ ০৫

Source httpwwwarthosuchakcomarchives387849

- ও ( -২)

৬ ও

ও ৫ ৩০০

ও ও

৭ ২০০

( ও )

ও ও

ও ও

২ - ও mdashlsquo

rsquo ও

-

৫ ৩০০

- ১০ - ৪২৯ -

৩২৮

- ১০

( )

২০১৪

( ও) ও ( )

( )

২ ও ও

ও ও ও

ও ২০১১- ও

ও ( )

Daily News Flash 12th November 2017

39

(১০ ) ৫ ৭৬৩

৬৩ ও

ও ( )

- ২০১৪ ও

ও ও

Source httpwwwprothom-alocomeconomyarticle1362971

ও ও

ও - ও

২০১৬-১৭ ২০ ও

ও ও lsquo rsquo

ও ১০ ও

৭৭ ২০১৭

১৬ ২৭ ও

২০১৬-২০১৭ ২০ lsquo rsquo

ও-

ও ও ও

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564382

ফ ( ও) ১১

ও ও

ও lsquo১১ ও rsquo

১০ ১৩

( ) ( )

Daily News Flash 12th November 2017

40

- ও

-

( )

( )

lsquo ও

rsquo ও

২৬ ১০

১৬

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564383

১ ৫০

ও ২০৫০

২৩

১৬ ৫৯ ২০১১

২০৩০

( )

ঋ ও ও

৬৮ ৬৭

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564384

ফ lsquo

ও ও

( ) ও

- ও

( ও ) ( )

Daily News Flash 12th November 2017

41

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564388

৪৫ ও

৮৪ ৮৩

৯২০

২৭ ২৪ ৭ ৩

৬ ৮৯

৯ ১ ৭২ ১৪ ৪৮

৪৫

ও ১৭ ৫০

১৯৩ ১০ ২০১৫-১৬ ৪১৩ ১০ ও ও

২০১৪-১৫ ৩৭৫ ৮০ ৩৫ ৭০

২০১৩-১৪ ৫১৫ ও

৮১ ২ ৫১ ৩ ২০

২ ও

৮৪

৮১

- ও

৮৩

৮২ ৯৫

ও ও - ও

ও ও ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17112200 - - - -

ও ৫০

ও ( ) ( )

ও ও

Daily News Flash 12th November 2017

42

ও ও

১০০

৮ ও

৩০০ ( )

ও ১৫০

২০০ ১০০

২০০

২৭ ৭

ও ও

ও ৩০ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111811 - - - -

-

২৭ ১১

১০

( ) ২৮৪

৬ ২৮ ৭ ১৫১

৭৪

ও - ও

ও - ও

ও ৩

৭ ১ ২৩

৯৪৪ ৮৮২ ১০

ও ৪ ৭ ও

৪ ৩৮ ও ১৫ ৪১ ২২ ৭০

২০ ৩৬ ১৩ ও

৪৬ ২২ ২০ ও

১৭ ৩৭১ ও ও

১৭ ও ৪৩ ও

Daily News Flash 12th November 2017

43

৬ ২০ ও ১৬

৩৫ ২০ ২৭

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111810 - - - - -

ও ও

১৩০ ও ১৪০

৫৫ ও ৯৭ ১১৩

৩৭

৩৪

৬১৯৩ ৬২ ১১৬১৭

৩০ ১৯

ও ও

ও - ও

৪৮ ৩১

১২ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111808 - - - - -

৩৫ ও ১০

ও ( ) ও

১০

ও ও -

২ ৩০০

২০১৪ ও

ও ৭ ২০১৪ ও ২০১৫

৫ ৭ ও ১২ ৮ ২৩

২০১৩ ১ ৪২০ ২০১৪ ১০ ৫ ১ ৫৭০

১৩ ৪ ও ১ ৩৫৮ ১০

২০১৬ ও ৩ ৫ ১ ৩১০ ২০১৪

২০১৬ mdash ২ ১ ঋ

১০ ও ২০১৩

২৯ ৮০ ২০১৪ ৫ ৭ ৩১ ৫০ ২০১৫

১২ ৩৫ ৩০ ২০১৬ ৭ ৩৭ ৮০

Daily News Flash 12th November 2017

44

২০১৪ ২০১৬

৩২ ৩৫ ও ৫০ ১৯

৫৬

১৭ ৪৬ ২০১৪ ২০১৬

৭২ ১০০ ও ১১১

২০১৪ ২০১৬ ১৫ ৬৩

৯১ ১১৪ ও ১১৮ ৮ ২৩

৮০ ৯০ ও

ও -

ও -

ও ও ও

১০ ও

১০ ও ২২

৭১ ১২ ৪২

৩২ ২৬ ও

ও ও

( ) ও

ও ২০২১ ও ও

৫ ১ ১৬

ও ও

Source httpbonikbartanetbanglanews2017-11-12137992 - - -- -

৫০০ ৫০০ ও

ও ৩০ ২০১৭

৫০০ ও ঋ ২০১৮

৩০

১ ২০ ও ১৫০

১১

Daily News Flash 12th November 2017

45

৩০০ ৬০০

( ) ও

১ ২৫ ও ১০

১০ ও

ঋ ও

৩০ ২০১৭ ৩ ও ১২ ও

( ) ২ ১৪ ২ ১

ও ৩০ ১১

( ) ও ও

( - ) ৬৬ ৫৫ ৩০

( ) ৩৪ ৯০

ও ও ও

( ) ও

ও ও ২০১৫ ৩০ ১০ ২০১৬

১২

( ) ৪১ ২০ ও ২৩ ৬০

৫০ ও

২০১৪ ৩০০ ও ১৪৮ ৪৬ ৫০

১৯১ ৬২ ৩৭ ৩১

১২ ৪৫ ৫০ ২৪

ও ( ) ১৬ ৫৩

ও ১৫ ২২

Source httpbonikbartanetbanglanews2017-11-12137966৫০০- - - - -ও -

৬৩

- ও ও

৬২ ৯৪ ৫

৬২

৯০

২০১৪ - -

- ও

২০১৬-১৭ ৫ ৬২ ও ২০১৩-১৪

১২

( ) ৯০

-

ও - - ও -

Daily News Flash 12th November 2017

46

- ও

৬২ ৯৪

২০১৩-১৪ ৭০ ৭৮ ২০১৪-১৫ ৫৪ ২২

২০১৫-১৬ ৩৯ ৩৩ ও ২৬ ২৩

ও ২০১৩-১৪

১২ ৩৬ ২০১৪-১৫ ৫ ৯১ ও ২০১৫-

১৬ ১৭ ৩০ ৫ ৬২

৩০ ২০১৭ ১০

২ ৮৬ ও ৩

ও ২৪ ( )

২৭

১৯৬৪ ১২

৪ ও ও ১৯৭২

ও ( )

ও ৩৪ ৮ ও

৯০

৪৫ ও ৫

১৯৬৪ ১৯৭২ ১৯৮৯

১০০ ও ২৬ ১৬ ২০ ৫৪৩ ৭৭

৫ - ৫১ ১৫ ৬০ ও

৩২ ৯০

Source httpbonikbartanetbanglanews2017-11-11137853 - - - - - -৬৩---

( ) ও

১০

ও ও ও

-

ও ও

ও ঋ ও

ও ২০১৪ ও

ও ও

২০১৩

( ) ও

Daily News Flash 12th November 2017

47

২০১৪

২০১৪-১৬ ও

২০১৪

ও ২০১৪

২০১৫ ২৭ lsquo ও rsquo

ও ও

২০১৬ ২৪

( )

ও ও

- ও

ও ও ১৯৮৩ ২০১৬

ঋ ( ) ৫৬০

৮৬৪

২০১৬ ২০১৯ ও

ও ১৫ ২৫ ৩০ ও ৩০

ও ঋ ও

২০১৬ ঋ ১

৩৪২ ঋ ৬ ৫২ ১২৩

ঋ ২ ৪৪৩ ঋ ১০

৮৪ ঋ ৪০

৭২৬

ও ২০১৬ ৭৪১

৪৫৭

২০৭ ২৪৪

১০ ও

ও ও ও ও ও

Daily News Flash 12th November 2017

48

Source httpbonikbartanetbanglanews2017-11-12137998 - - - - - ও- -

( )

৩০ ২০১৭ ২০

( ) ২ ১ ১ ৫৯ (

) ৩০ ( ) ১৫ ৩৭

ও ২৮ ১১

( ) ২৮

২০১৬ ৩০ ১৮ ২০

২০১৪ ও ২০

১৫ ৩০

১৮ ৮০ ও ৯ ৬০

Source httpbonikbartanetbanglanews2017-11-11137850 - - - -

ফ ৭ ২০১৭-১৮ ৭ ৩ ৭৪

( ) ও

( - ) ১ ১৫০ ৫৮

(২০১৬-১৭) ১ ৭৫ ৩ ৬০ ৭

৩ ১ ১৫৯ ২০ ৭৪

ও mdash

৬ ৬৫ ১৭ ৬৩

mdash ও ও

১৫ ৪১ ২২ ৬৯ ১০

১৯ ৬৬ ১০ ২০ ২২

mdash ও ও ও

৩৯ ৫১ ও ২ ও

১৬ ৪৬ ও ও ৬ ৯৯ ও

৩ ৮৫ ৯ ৯৫

১৯ ৮২

৮০

ও ( )

mdash

Daily News Flash 12th November 2017

49

ও ও

Source httpbonikbartanetbanglanews2017-11-10137755 - - - -৭- - --

ফ - ফ ও -ও

-ও

-ও

২৯-১০-২০১১ ৩ ( ) ২৮-১০-২০১৪

৩ ( ) ২৮-১১-২০১৬

২৮-১০-২০১৭ ৩ ( )

২০১৬-১৫৮১৩৪ ৪৪ ০৭-০৮-

২০১২ ১২(৬) ২ ( ) ৬ ( )

-ও - ও ২ ( )

৬ ( ) ও ও

-ও ৩ ( )

-

ও ও

১৯৯৪

২ ২২-০৫-২০১২ -ও ৩

- -

১৯৯৪

-ও

- ও

( )

১৯৯৪

১৯৯৪ -ও

Source httpwwwsharenews24comindexphppage=detailsampnc=1ampnews_id=6587

Daily News Flash 12th November 2017

50

ফ ফ

১৫ ও

-( ) ও

৪৯

১৬ ৮৫

৫১ ৪৯

৪ ৩৬

১৯১৩

১০০ ও ১৯০১ ১৯৬০

Source httpswwwdailystockbangladeshcom - - - -

- ( -১)

( ) ৮

৩০০ ও

( ) ১৬

- ২২৮ ৪৯ ১৮৩ ২০১৮

( ) ও

১৫০

( ) ও ৪০ ৩০

ও ও

ও ও

Source httpswwwdailystockbangladeshcom - - -

Page 36: Daily News Flash, 12th November, 2017 -  · PDF filebanglalink's revenue falls 4.57pc in q3 ... banks lack remedial strategy while npl rises worryingly

Daily News Flash 12th November 2017

36

৫৩ ( ) ১৫ ও ২

১ ১ ৪৩ ২১০ ৫৩ ৪৪

৩২ ৫০

৮ ৫৮

২০

১ ২৪

৯ ২৭ ৫৫৫ ৯ ৩৮

-

Source httpwwwarthosuchakcomarchives388125

৩৫ ( ) ৩৫

২৪৫ ৩

১৭ ১১৯ ২১

ও - ১১

৯ ৬ - ৫ ৪

- ও ২

ও ১

Source httpwwwarthosuchakcomarchives388085

- ফ ৪০ ও - ৪০

৬ ( ) ৫ ৯ ৫ ৪৯২ ১১

৫৬ ৪৫১ ২৯

১২ ( ও)

( )

-

- ১০

( ও) ৮০

৪৯ ৩৭ ৯৮

ও ১৭ ১২ ঋ ও

১০ ও ৩ ১০

৩০ ২০১৬ ৩৫ ৬৩

৫ ( ) ৩ ৪৯

Daily News Flash 12th November 2017

37

Source httpwwwarthosuchakcomarchives387762

lsquo rsquo

( )

lsquo - rsquo

( ) ও

২০০২ ( ২ )

৫৪৬

ও ১৫

ও ১৫ ৭৫ ও

১০-১২ ১

১৫৫ ৬৭

ও ২০১০

ও ও ও -

ঋ ঋ

১৫ ৪ ৩

২ ২ ৪ ১৫ ৬

( )

Source httpwwwarthosuchakcomarchives388276

- ও ও

Daily News Flash 12th November 2017

38

৩৮ ও ৪৩

১০০ ৬১ ৫৮ ২২৫ ১ ০৫

Source httpwwwarthosuchakcomarchives387849

- ও ( -২)

৬ ও

ও ৫ ৩০০

ও ও

৭ ২০০

( ও )

ও ও

ও ও

২ - ও mdashlsquo

rsquo ও

-

৫ ৩০০

- ১০ - ৪২৯ -

৩২৮

- ১০

( )

২০১৪

( ও) ও ( )

( )

২ ও ও

ও ও ও

ও ২০১১- ও

ও ( )

Daily News Flash 12th November 2017

39

(১০ ) ৫ ৭৬৩

৬৩ ও

ও ( )

- ২০১৪ ও

ও ও

Source httpwwwprothom-alocomeconomyarticle1362971

ও ও

ও - ও

২০১৬-১৭ ২০ ও

ও ও lsquo rsquo

ও ১০ ও

৭৭ ২০১৭

১৬ ২৭ ও

২০১৬-২০১৭ ২০ lsquo rsquo

ও-

ও ও ও

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564382

ফ ( ও) ১১

ও ও

ও lsquo১১ ও rsquo

১০ ১৩

( ) ( )

Daily News Flash 12th November 2017

40

- ও

-

( )

( )

lsquo ও

rsquo ও

২৬ ১০

১৬

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564383

১ ৫০

ও ২০৫০

২৩

১৬ ৫৯ ২০১১

২০৩০

( )

ঋ ও ও

৬৮ ৬৭

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564384

ফ lsquo

ও ও

( ) ও

- ও

( ও ) ( )

Daily News Flash 12th November 2017

41

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564388

৪৫ ও

৮৪ ৮৩

৯২০

২৭ ২৪ ৭ ৩

৬ ৮৯

৯ ১ ৭২ ১৪ ৪৮

৪৫

ও ১৭ ৫০

১৯৩ ১০ ২০১৫-১৬ ৪১৩ ১০ ও ও

২০১৪-১৫ ৩৭৫ ৮০ ৩৫ ৭০

২০১৩-১৪ ৫১৫ ও

৮১ ২ ৫১ ৩ ২০

২ ও

৮৪

৮১

- ও

৮৩

৮২ ৯৫

ও ও - ও

ও ও ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17112200 - - - -

ও ৫০

ও ( ) ( )

ও ও

Daily News Flash 12th November 2017

42

ও ও

১০০

৮ ও

৩০০ ( )

ও ১৫০

২০০ ১০০

২০০

২৭ ৭

ও ও

ও ৩০ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111811 - - - -

-

২৭ ১১

১০

( ) ২৮৪

৬ ২৮ ৭ ১৫১

৭৪

ও - ও

ও - ও

ও ৩

৭ ১ ২৩

৯৪৪ ৮৮২ ১০

ও ৪ ৭ ও

৪ ৩৮ ও ১৫ ৪১ ২২ ৭০

২০ ৩৬ ১৩ ও

৪৬ ২২ ২০ ও

১৭ ৩৭১ ও ও

১৭ ও ৪৩ ও

Daily News Flash 12th November 2017

43

৬ ২০ ও ১৬

৩৫ ২০ ২৭

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111810 - - - - -

ও ও

১৩০ ও ১৪০

৫৫ ও ৯৭ ১১৩

৩৭

৩৪

৬১৯৩ ৬২ ১১৬১৭

৩০ ১৯

ও ও

ও - ও

৪৮ ৩১

১২ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111808 - - - - -

৩৫ ও ১০

ও ( ) ও

১০

ও ও -

২ ৩০০

২০১৪ ও

ও ৭ ২০১৪ ও ২০১৫

৫ ৭ ও ১২ ৮ ২৩

২০১৩ ১ ৪২০ ২০১৪ ১০ ৫ ১ ৫৭০

১৩ ৪ ও ১ ৩৫৮ ১০

২০১৬ ও ৩ ৫ ১ ৩১০ ২০১৪

২০১৬ mdash ২ ১ ঋ

১০ ও ২০১৩

২৯ ৮০ ২০১৪ ৫ ৭ ৩১ ৫০ ২০১৫

১২ ৩৫ ৩০ ২০১৬ ৭ ৩৭ ৮০

Daily News Flash 12th November 2017

44

২০১৪ ২০১৬

৩২ ৩৫ ও ৫০ ১৯

৫৬

১৭ ৪৬ ২০১৪ ২০১৬

৭২ ১০০ ও ১১১

২০১৪ ২০১৬ ১৫ ৬৩

৯১ ১১৪ ও ১১৮ ৮ ২৩

৮০ ৯০ ও

ও -

ও -

ও ও ও

১০ ও

১০ ও ২২

৭১ ১২ ৪২

৩২ ২৬ ও

ও ও

( ) ও

ও ২০২১ ও ও

৫ ১ ১৬

ও ও

Source httpbonikbartanetbanglanews2017-11-12137992 - - -- -

৫০০ ৫০০ ও

ও ৩০ ২০১৭

৫০০ ও ঋ ২০১৮

৩০

১ ২০ ও ১৫০

১১

Daily News Flash 12th November 2017

45

৩০০ ৬০০

( ) ও

১ ২৫ ও ১০

১০ ও

ঋ ও

৩০ ২০১৭ ৩ ও ১২ ও

( ) ২ ১৪ ২ ১

ও ৩০ ১১

( ) ও ও

( - ) ৬৬ ৫৫ ৩০

( ) ৩৪ ৯০

ও ও ও

( ) ও

ও ও ২০১৫ ৩০ ১০ ২০১৬

১২

( ) ৪১ ২০ ও ২৩ ৬০

৫০ ও

২০১৪ ৩০০ ও ১৪৮ ৪৬ ৫০

১৯১ ৬২ ৩৭ ৩১

১২ ৪৫ ৫০ ২৪

ও ( ) ১৬ ৫৩

ও ১৫ ২২

Source httpbonikbartanetbanglanews2017-11-12137966৫০০- - - - -ও -

৬৩

- ও ও

৬২ ৯৪ ৫

৬২

৯০

২০১৪ - -

- ও

২০১৬-১৭ ৫ ৬২ ও ২০১৩-১৪

১২

( ) ৯০

-

ও - - ও -

Daily News Flash 12th November 2017

46

- ও

৬২ ৯৪

২০১৩-১৪ ৭০ ৭৮ ২০১৪-১৫ ৫৪ ২২

২০১৫-১৬ ৩৯ ৩৩ ও ২৬ ২৩

ও ২০১৩-১৪

১২ ৩৬ ২০১৪-১৫ ৫ ৯১ ও ২০১৫-

১৬ ১৭ ৩০ ৫ ৬২

৩০ ২০১৭ ১০

২ ৮৬ ও ৩

ও ২৪ ( )

২৭

১৯৬৪ ১২

৪ ও ও ১৯৭২

ও ( )

ও ৩৪ ৮ ও

৯০

৪৫ ও ৫

১৯৬৪ ১৯৭২ ১৯৮৯

১০০ ও ২৬ ১৬ ২০ ৫৪৩ ৭৭

৫ - ৫১ ১৫ ৬০ ও

৩২ ৯০

Source httpbonikbartanetbanglanews2017-11-11137853 - - - - - -৬৩---

( ) ও

১০

ও ও ও

-

ও ও

ও ঋ ও

ও ২০১৪ ও

ও ও

২০১৩

( ) ও

Daily News Flash 12th November 2017

47

২০১৪

২০১৪-১৬ ও

২০১৪

ও ২০১৪

২০১৫ ২৭ lsquo ও rsquo

ও ও

২০১৬ ২৪

( )

ও ও

- ও

ও ও ১৯৮৩ ২০১৬

ঋ ( ) ৫৬০

৮৬৪

২০১৬ ২০১৯ ও

ও ১৫ ২৫ ৩০ ও ৩০

ও ঋ ও

২০১৬ ঋ ১

৩৪২ ঋ ৬ ৫২ ১২৩

ঋ ২ ৪৪৩ ঋ ১০

৮৪ ঋ ৪০

৭২৬

ও ২০১৬ ৭৪১

৪৫৭

২০৭ ২৪৪

১০ ও

ও ও ও ও ও

Daily News Flash 12th November 2017

48

Source httpbonikbartanetbanglanews2017-11-12137998 - - - - - ও- -

( )

৩০ ২০১৭ ২০

( ) ২ ১ ১ ৫৯ (

) ৩০ ( ) ১৫ ৩৭

ও ২৮ ১১

( ) ২৮

২০১৬ ৩০ ১৮ ২০

২০১৪ ও ২০

১৫ ৩০

১৮ ৮০ ও ৯ ৬০

Source httpbonikbartanetbanglanews2017-11-11137850 - - - -

ফ ৭ ২০১৭-১৮ ৭ ৩ ৭৪

( ) ও

( - ) ১ ১৫০ ৫৮

(২০১৬-১৭) ১ ৭৫ ৩ ৬০ ৭

৩ ১ ১৫৯ ২০ ৭৪

ও mdash

৬ ৬৫ ১৭ ৬৩

mdash ও ও

১৫ ৪১ ২২ ৬৯ ১০

১৯ ৬৬ ১০ ২০ ২২

mdash ও ও ও

৩৯ ৫১ ও ২ ও

১৬ ৪৬ ও ও ৬ ৯৯ ও

৩ ৮৫ ৯ ৯৫

১৯ ৮২

৮০

ও ( )

mdash

Daily News Flash 12th November 2017

49

ও ও

Source httpbonikbartanetbanglanews2017-11-10137755 - - - -৭- - --

ফ - ফ ও -ও

-ও

-ও

২৯-১০-২০১১ ৩ ( ) ২৮-১০-২০১৪

৩ ( ) ২৮-১১-২০১৬

২৮-১০-২০১৭ ৩ ( )

২০১৬-১৫৮১৩৪ ৪৪ ০৭-০৮-

২০১২ ১২(৬) ২ ( ) ৬ ( )

-ও - ও ২ ( )

৬ ( ) ও ও

-ও ৩ ( )

-

ও ও

১৯৯৪

২ ২২-০৫-২০১২ -ও ৩

- -

১৯৯৪

-ও

- ও

( )

১৯৯৪

১৯৯৪ -ও

Source httpwwwsharenews24comindexphppage=detailsampnc=1ampnews_id=6587

Daily News Flash 12th November 2017

50

ফ ফ

১৫ ও

-( ) ও

৪৯

১৬ ৮৫

৫১ ৪৯

৪ ৩৬

১৯১৩

১০০ ও ১৯০১ ১৯৬০

Source httpswwwdailystockbangladeshcom - - - -

- ( -১)

( ) ৮

৩০০ ও

( ) ১৬

- ২২৮ ৪৯ ১৮৩ ২০১৮

( ) ও

১৫০

( ) ও ৪০ ৩০

ও ও

ও ও

Source httpswwwdailystockbangladeshcom - - -

Page 37: Daily News Flash, 12th November, 2017 -  · PDF filebanglalink's revenue falls 4.57pc in q3 ... banks lack remedial strategy while npl rises worryingly

Daily News Flash 12th November 2017

37

Source httpwwwarthosuchakcomarchives387762

lsquo rsquo

( )

lsquo - rsquo

( ) ও

২০০২ ( ২ )

৫৪৬

ও ১৫

ও ১৫ ৭৫ ও

১০-১২ ১

১৫৫ ৬৭

ও ২০১০

ও ও ও -

ঋ ঋ

১৫ ৪ ৩

২ ২ ৪ ১৫ ৬

( )

Source httpwwwarthosuchakcomarchives388276

- ও ও

Daily News Flash 12th November 2017

38

৩৮ ও ৪৩

১০০ ৬১ ৫৮ ২২৫ ১ ০৫

Source httpwwwarthosuchakcomarchives387849

- ও ( -২)

৬ ও

ও ৫ ৩০০

ও ও

৭ ২০০

( ও )

ও ও

ও ও

২ - ও mdashlsquo

rsquo ও

-

৫ ৩০০

- ১০ - ৪২৯ -

৩২৮

- ১০

( )

২০১৪

( ও) ও ( )

( )

২ ও ও

ও ও ও

ও ২০১১- ও

ও ( )

Daily News Flash 12th November 2017

39

(১০ ) ৫ ৭৬৩

৬৩ ও

ও ( )

- ২০১৪ ও

ও ও

Source httpwwwprothom-alocomeconomyarticle1362971

ও ও

ও - ও

২০১৬-১৭ ২০ ও

ও ও lsquo rsquo

ও ১০ ও

৭৭ ২০১৭

১৬ ২৭ ও

২০১৬-২০১৭ ২০ lsquo rsquo

ও-

ও ও ও

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564382

ফ ( ও) ১১

ও ও

ও lsquo১১ ও rsquo

১০ ১৩

( ) ( )

Daily News Flash 12th November 2017

40

- ও

-

( )

( )

lsquo ও

rsquo ও

২৬ ১০

১৬

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564383

১ ৫০

ও ২০৫০

২৩

১৬ ৫৯ ২০১১

২০৩০

( )

ঋ ও ও

৬৮ ৬৭

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564384

ফ lsquo

ও ও

( ) ও

- ও

( ও ) ( )

Daily News Flash 12th November 2017

41

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564388

৪৫ ও

৮৪ ৮৩

৯২০

২৭ ২৪ ৭ ৩

৬ ৮৯

৯ ১ ৭২ ১৪ ৪৮

৪৫

ও ১৭ ৫০

১৯৩ ১০ ২০১৫-১৬ ৪১৩ ১০ ও ও

২০১৪-১৫ ৩৭৫ ৮০ ৩৫ ৭০

২০১৩-১৪ ৫১৫ ও

৮১ ২ ৫১ ৩ ২০

২ ও

৮৪

৮১

- ও

৮৩

৮২ ৯৫

ও ও - ও

ও ও ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17112200 - - - -

ও ৫০

ও ( ) ( )

ও ও

Daily News Flash 12th November 2017

42

ও ও

১০০

৮ ও

৩০০ ( )

ও ১৫০

২০০ ১০০

২০০

২৭ ৭

ও ও

ও ৩০ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111811 - - - -

-

২৭ ১১

১০

( ) ২৮৪

৬ ২৮ ৭ ১৫১

৭৪

ও - ও

ও - ও

ও ৩

৭ ১ ২৩

৯৪৪ ৮৮২ ১০

ও ৪ ৭ ও

৪ ৩৮ ও ১৫ ৪১ ২২ ৭০

২০ ৩৬ ১৩ ও

৪৬ ২২ ২০ ও

১৭ ৩৭১ ও ও

১৭ ও ৪৩ ও

Daily News Flash 12th November 2017

43

৬ ২০ ও ১৬

৩৫ ২০ ২৭

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111810 - - - - -

ও ও

১৩০ ও ১৪০

৫৫ ও ৯৭ ১১৩

৩৭

৩৪

৬১৯৩ ৬২ ১১৬১৭

৩০ ১৯

ও ও

ও - ও

৪৮ ৩১

১২ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111808 - - - - -

৩৫ ও ১০

ও ( ) ও

১০

ও ও -

২ ৩০০

২০১৪ ও

ও ৭ ২০১৪ ও ২০১৫

৫ ৭ ও ১২ ৮ ২৩

২০১৩ ১ ৪২০ ২০১৪ ১০ ৫ ১ ৫৭০

১৩ ৪ ও ১ ৩৫৮ ১০

২০১৬ ও ৩ ৫ ১ ৩১০ ২০১৪

২০১৬ mdash ২ ১ ঋ

১০ ও ২০১৩

২৯ ৮০ ২০১৪ ৫ ৭ ৩১ ৫০ ২০১৫

১২ ৩৫ ৩০ ২০১৬ ৭ ৩৭ ৮০

Daily News Flash 12th November 2017

44

২০১৪ ২০১৬

৩২ ৩৫ ও ৫০ ১৯

৫৬

১৭ ৪৬ ২০১৪ ২০১৬

৭২ ১০০ ও ১১১

২০১৪ ২০১৬ ১৫ ৬৩

৯১ ১১৪ ও ১১৮ ৮ ২৩

৮০ ৯০ ও

ও -

ও -

ও ও ও

১০ ও

১০ ও ২২

৭১ ১২ ৪২

৩২ ২৬ ও

ও ও

( ) ও

ও ২০২১ ও ও

৫ ১ ১৬

ও ও

Source httpbonikbartanetbanglanews2017-11-12137992 - - -- -

৫০০ ৫০০ ও

ও ৩০ ২০১৭

৫০০ ও ঋ ২০১৮

৩০

১ ২০ ও ১৫০

১১

Daily News Flash 12th November 2017

45

৩০০ ৬০০

( ) ও

১ ২৫ ও ১০

১০ ও

ঋ ও

৩০ ২০১৭ ৩ ও ১২ ও

( ) ২ ১৪ ২ ১

ও ৩০ ১১

( ) ও ও

( - ) ৬৬ ৫৫ ৩০

( ) ৩৪ ৯০

ও ও ও

( ) ও

ও ও ২০১৫ ৩০ ১০ ২০১৬

১২

( ) ৪১ ২০ ও ২৩ ৬০

৫০ ও

২০১৪ ৩০০ ও ১৪৮ ৪৬ ৫০

১৯১ ৬২ ৩৭ ৩১

১২ ৪৫ ৫০ ২৪

ও ( ) ১৬ ৫৩

ও ১৫ ২২

Source httpbonikbartanetbanglanews2017-11-12137966৫০০- - - - -ও -

৬৩

- ও ও

৬২ ৯৪ ৫

৬২

৯০

২০১৪ - -

- ও

২০১৬-১৭ ৫ ৬২ ও ২০১৩-১৪

১২

( ) ৯০

-

ও - - ও -

Daily News Flash 12th November 2017

46

- ও

৬২ ৯৪

২০১৩-১৪ ৭০ ৭৮ ২০১৪-১৫ ৫৪ ২২

২০১৫-১৬ ৩৯ ৩৩ ও ২৬ ২৩

ও ২০১৩-১৪

১২ ৩৬ ২০১৪-১৫ ৫ ৯১ ও ২০১৫-

১৬ ১৭ ৩০ ৫ ৬২

৩০ ২০১৭ ১০

২ ৮৬ ও ৩

ও ২৪ ( )

২৭

১৯৬৪ ১২

৪ ও ও ১৯৭২

ও ( )

ও ৩৪ ৮ ও

৯০

৪৫ ও ৫

১৯৬৪ ১৯৭২ ১৯৮৯

১০০ ও ২৬ ১৬ ২০ ৫৪৩ ৭৭

৫ - ৫১ ১৫ ৬০ ও

৩২ ৯০

Source httpbonikbartanetbanglanews2017-11-11137853 - - - - - -৬৩---

( ) ও

১০

ও ও ও

-

ও ও

ও ঋ ও

ও ২০১৪ ও

ও ও

২০১৩

( ) ও

Daily News Flash 12th November 2017

47

২০১৪

২০১৪-১৬ ও

২০১৪

ও ২০১৪

২০১৫ ২৭ lsquo ও rsquo

ও ও

২০১৬ ২৪

( )

ও ও

- ও

ও ও ১৯৮৩ ২০১৬

ঋ ( ) ৫৬০

৮৬৪

২০১৬ ২০১৯ ও

ও ১৫ ২৫ ৩০ ও ৩০

ও ঋ ও

২০১৬ ঋ ১

৩৪২ ঋ ৬ ৫২ ১২৩

ঋ ২ ৪৪৩ ঋ ১০

৮৪ ঋ ৪০

৭২৬

ও ২০১৬ ৭৪১

৪৫৭

২০৭ ২৪৪

১০ ও

ও ও ও ও ও

Daily News Flash 12th November 2017

48

Source httpbonikbartanetbanglanews2017-11-12137998 - - - - - ও- -

( )

৩০ ২০১৭ ২০

( ) ২ ১ ১ ৫৯ (

) ৩০ ( ) ১৫ ৩৭

ও ২৮ ১১

( ) ২৮

২০১৬ ৩০ ১৮ ২০

২০১৪ ও ২০

১৫ ৩০

১৮ ৮০ ও ৯ ৬০

Source httpbonikbartanetbanglanews2017-11-11137850 - - - -

ফ ৭ ২০১৭-১৮ ৭ ৩ ৭৪

( ) ও

( - ) ১ ১৫০ ৫৮

(২০১৬-১৭) ১ ৭৫ ৩ ৬০ ৭

৩ ১ ১৫৯ ২০ ৭৪

ও mdash

৬ ৬৫ ১৭ ৬৩

mdash ও ও

১৫ ৪১ ২২ ৬৯ ১০

১৯ ৬৬ ১০ ২০ ২২

mdash ও ও ও

৩৯ ৫১ ও ২ ও

১৬ ৪৬ ও ও ৬ ৯৯ ও

৩ ৮৫ ৯ ৯৫

১৯ ৮২

৮০

ও ( )

mdash

Daily News Flash 12th November 2017

49

ও ও

Source httpbonikbartanetbanglanews2017-11-10137755 - - - -৭- - --

ফ - ফ ও -ও

-ও

-ও

২৯-১০-২০১১ ৩ ( ) ২৮-১০-২০১৪

৩ ( ) ২৮-১১-২০১৬

২৮-১০-২০১৭ ৩ ( )

২০১৬-১৫৮১৩৪ ৪৪ ০৭-০৮-

২০১২ ১২(৬) ২ ( ) ৬ ( )

-ও - ও ২ ( )

৬ ( ) ও ও

-ও ৩ ( )

-

ও ও

১৯৯৪

২ ২২-০৫-২০১২ -ও ৩

- -

১৯৯৪

-ও

- ও

( )

১৯৯৪

১৯৯৪ -ও

Source httpwwwsharenews24comindexphppage=detailsampnc=1ampnews_id=6587

Daily News Flash 12th November 2017

50

ফ ফ

১৫ ও

-( ) ও

৪৯

১৬ ৮৫

৫১ ৪৯

৪ ৩৬

১৯১৩

১০০ ও ১৯০১ ১৯৬০

Source httpswwwdailystockbangladeshcom - - - -

- ( -১)

( ) ৮

৩০০ ও

( ) ১৬

- ২২৮ ৪৯ ১৮৩ ২০১৮

( ) ও

১৫০

( ) ও ৪০ ৩০

ও ও

ও ও

Source httpswwwdailystockbangladeshcom - - -

Page 38: Daily News Flash, 12th November, 2017 -  · PDF filebanglalink's revenue falls 4.57pc in q3 ... banks lack remedial strategy while npl rises worryingly

Daily News Flash 12th November 2017

38

৩৮ ও ৪৩

১০০ ৬১ ৫৮ ২২৫ ১ ০৫

Source httpwwwarthosuchakcomarchives387849

- ও ( -২)

৬ ও

ও ৫ ৩০০

ও ও

৭ ২০০

( ও )

ও ও

ও ও

২ - ও mdashlsquo

rsquo ও

-

৫ ৩০০

- ১০ - ৪২৯ -

৩২৮

- ১০

( )

২০১৪

( ও) ও ( )

( )

২ ও ও

ও ও ও

ও ২০১১- ও

ও ( )

Daily News Flash 12th November 2017

39

(১০ ) ৫ ৭৬৩

৬৩ ও

ও ( )

- ২০১৪ ও

ও ও

Source httpwwwprothom-alocomeconomyarticle1362971

ও ও

ও - ও

২০১৬-১৭ ২০ ও

ও ও lsquo rsquo

ও ১০ ও

৭৭ ২০১৭

১৬ ২৭ ও

২০১৬-২০১৭ ২০ lsquo rsquo

ও-

ও ও ও

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564382

ফ ( ও) ১১

ও ও

ও lsquo১১ ও rsquo

১০ ১৩

( ) ( )

Daily News Flash 12th November 2017

40

- ও

-

( )

( )

lsquo ও

rsquo ও

২৬ ১০

১৬

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564383

১ ৫০

ও ২০৫০

২৩

১৬ ৫৯ ২০১১

২০৩০

( )

ঋ ও ও

৬৮ ৬৭

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564384

ফ lsquo

ও ও

( ) ও

- ও

( ও ) ( )

Daily News Flash 12th November 2017

41

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564388

৪৫ ও

৮৪ ৮৩

৯২০

২৭ ২৪ ৭ ৩

৬ ৮৯

৯ ১ ৭২ ১৪ ৪৮

৪৫

ও ১৭ ৫০

১৯৩ ১০ ২০১৫-১৬ ৪১৩ ১০ ও ও

২০১৪-১৫ ৩৭৫ ৮০ ৩৫ ৭০

২০১৩-১৪ ৫১৫ ও

৮১ ২ ৫১ ৩ ২০

২ ও

৮৪

৮১

- ও

৮৩

৮২ ৯৫

ও ও - ও

ও ও ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17112200 - - - -

ও ৫০

ও ( ) ( )

ও ও

Daily News Flash 12th November 2017

42

ও ও

১০০

৮ ও

৩০০ ( )

ও ১৫০

২০০ ১০০

২০০

২৭ ৭

ও ও

ও ৩০ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111811 - - - -

-

২৭ ১১

১০

( ) ২৮৪

৬ ২৮ ৭ ১৫১

৭৪

ও - ও

ও - ও

ও ৩

৭ ১ ২৩

৯৪৪ ৮৮২ ১০

ও ৪ ৭ ও

৪ ৩৮ ও ১৫ ৪১ ২২ ৭০

২০ ৩৬ ১৩ ও

৪৬ ২২ ২০ ও

১৭ ৩৭১ ও ও

১৭ ও ৪৩ ও

Daily News Flash 12th November 2017

43

৬ ২০ ও ১৬

৩৫ ২০ ২৭

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111810 - - - - -

ও ও

১৩০ ও ১৪০

৫৫ ও ৯৭ ১১৩

৩৭

৩৪

৬১৯৩ ৬২ ১১৬১৭

৩০ ১৯

ও ও

ও - ও

৪৮ ৩১

১২ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111808 - - - - -

৩৫ ও ১০

ও ( ) ও

১০

ও ও -

২ ৩০০

২০১৪ ও

ও ৭ ২০১৪ ও ২০১৫

৫ ৭ ও ১২ ৮ ২৩

২০১৩ ১ ৪২০ ২০১৪ ১০ ৫ ১ ৫৭০

১৩ ৪ ও ১ ৩৫৮ ১০

২০১৬ ও ৩ ৫ ১ ৩১০ ২০১৪

২০১৬ mdash ২ ১ ঋ

১০ ও ২০১৩

২৯ ৮০ ২০১৪ ৫ ৭ ৩১ ৫০ ২০১৫

১২ ৩৫ ৩০ ২০১৬ ৭ ৩৭ ৮০

Daily News Flash 12th November 2017

44

২০১৪ ২০১৬

৩২ ৩৫ ও ৫০ ১৯

৫৬

১৭ ৪৬ ২০১৪ ২০১৬

৭২ ১০০ ও ১১১

২০১৪ ২০১৬ ১৫ ৬৩

৯১ ১১৪ ও ১১৮ ৮ ২৩

৮০ ৯০ ও

ও -

ও -

ও ও ও

১০ ও

১০ ও ২২

৭১ ১২ ৪২

৩২ ২৬ ও

ও ও

( ) ও

ও ২০২১ ও ও

৫ ১ ১৬

ও ও

Source httpbonikbartanetbanglanews2017-11-12137992 - - -- -

৫০০ ৫০০ ও

ও ৩০ ২০১৭

৫০০ ও ঋ ২০১৮

৩০

১ ২০ ও ১৫০

১১

Daily News Flash 12th November 2017

45

৩০০ ৬০০

( ) ও

১ ২৫ ও ১০

১০ ও

ঋ ও

৩০ ২০১৭ ৩ ও ১২ ও

( ) ২ ১৪ ২ ১

ও ৩০ ১১

( ) ও ও

( - ) ৬৬ ৫৫ ৩০

( ) ৩৪ ৯০

ও ও ও

( ) ও

ও ও ২০১৫ ৩০ ১০ ২০১৬

১২

( ) ৪১ ২০ ও ২৩ ৬০

৫০ ও

২০১৪ ৩০০ ও ১৪৮ ৪৬ ৫০

১৯১ ৬২ ৩৭ ৩১

১২ ৪৫ ৫০ ২৪

ও ( ) ১৬ ৫৩

ও ১৫ ২২

Source httpbonikbartanetbanglanews2017-11-12137966৫০০- - - - -ও -

৬৩

- ও ও

৬২ ৯৪ ৫

৬২

৯০

২০১৪ - -

- ও

২০১৬-১৭ ৫ ৬২ ও ২০১৩-১৪

১২

( ) ৯০

-

ও - - ও -

Daily News Flash 12th November 2017

46

- ও

৬২ ৯৪

২০১৩-১৪ ৭০ ৭৮ ২০১৪-১৫ ৫৪ ২২

২০১৫-১৬ ৩৯ ৩৩ ও ২৬ ২৩

ও ২০১৩-১৪

১২ ৩৬ ২০১৪-১৫ ৫ ৯১ ও ২০১৫-

১৬ ১৭ ৩০ ৫ ৬২

৩০ ২০১৭ ১০

২ ৮৬ ও ৩

ও ২৪ ( )

২৭

১৯৬৪ ১২

৪ ও ও ১৯৭২

ও ( )

ও ৩৪ ৮ ও

৯০

৪৫ ও ৫

১৯৬৪ ১৯৭২ ১৯৮৯

১০০ ও ২৬ ১৬ ২০ ৫৪৩ ৭৭

৫ - ৫১ ১৫ ৬০ ও

৩২ ৯০

Source httpbonikbartanetbanglanews2017-11-11137853 - - - - - -৬৩---

( ) ও

১০

ও ও ও

-

ও ও

ও ঋ ও

ও ২০১৪ ও

ও ও

২০১৩

( ) ও

Daily News Flash 12th November 2017

47

২০১৪

২০১৪-১৬ ও

২০১৪

ও ২০১৪

২০১৫ ২৭ lsquo ও rsquo

ও ও

২০১৬ ২৪

( )

ও ও

- ও

ও ও ১৯৮৩ ২০১৬

ঋ ( ) ৫৬০

৮৬৪

২০১৬ ২০১৯ ও

ও ১৫ ২৫ ৩০ ও ৩০

ও ঋ ও

২০১৬ ঋ ১

৩৪২ ঋ ৬ ৫২ ১২৩

ঋ ২ ৪৪৩ ঋ ১০

৮৪ ঋ ৪০

৭২৬

ও ২০১৬ ৭৪১

৪৫৭

২০৭ ২৪৪

১০ ও

ও ও ও ও ও

Daily News Flash 12th November 2017

48

Source httpbonikbartanetbanglanews2017-11-12137998 - - - - - ও- -

( )

৩০ ২০১৭ ২০

( ) ২ ১ ১ ৫৯ (

) ৩০ ( ) ১৫ ৩৭

ও ২৮ ১১

( ) ২৮

২০১৬ ৩০ ১৮ ২০

২০১৪ ও ২০

১৫ ৩০

১৮ ৮০ ও ৯ ৬০

Source httpbonikbartanetbanglanews2017-11-11137850 - - - -

ফ ৭ ২০১৭-১৮ ৭ ৩ ৭৪

( ) ও

( - ) ১ ১৫০ ৫৮

(২০১৬-১৭) ১ ৭৫ ৩ ৬০ ৭

৩ ১ ১৫৯ ২০ ৭৪

ও mdash

৬ ৬৫ ১৭ ৬৩

mdash ও ও

১৫ ৪১ ২২ ৬৯ ১০

১৯ ৬৬ ১০ ২০ ২২

mdash ও ও ও

৩৯ ৫১ ও ২ ও

১৬ ৪৬ ও ও ৬ ৯৯ ও

৩ ৮৫ ৯ ৯৫

১৯ ৮২

৮০

ও ( )

mdash

Daily News Flash 12th November 2017

49

ও ও

Source httpbonikbartanetbanglanews2017-11-10137755 - - - -৭- - --

ফ - ফ ও -ও

-ও

-ও

২৯-১০-২০১১ ৩ ( ) ২৮-১০-২০১৪

৩ ( ) ২৮-১১-২০১৬

২৮-১০-২০১৭ ৩ ( )

২০১৬-১৫৮১৩৪ ৪৪ ০৭-০৮-

২০১২ ১২(৬) ২ ( ) ৬ ( )

-ও - ও ২ ( )

৬ ( ) ও ও

-ও ৩ ( )

-

ও ও

১৯৯৪

২ ২২-০৫-২০১২ -ও ৩

- -

১৯৯৪

-ও

- ও

( )

১৯৯৪

১৯৯৪ -ও

Source httpwwwsharenews24comindexphppage=detailsampnc=1ampnews_id=6587

Daily News Flash 12th November 2017

50

ফ ফ

১৫ ও

-( ) ও

৪৯

১৬ ৮৫

৫১ ৪৯

৪ ৩৬

১৯১৩

১০০ ও ১৯০১ ১৯৬০

Source httpswwwdailystockbangladeshcom - - - -

- ( -১)

( ) ৮

৩০০ ও

( ) ১৬

- ২২৮ ৪৯ ১৮৩ ২০১৮

( ) ও

১৫০

( ) ও ৪০ ৩০

ও ও

ও ও

Source httpswwwdailystockbangladeshcom - - -

Page 39: Daily News Flash, 12th November, 2017 -  · PDF filebanglalink's revenue falls 4.57pc in q3 ... banks lack remedial strategy while npl rises worryingly

Daily News Flash 12th November 2017

39

(১০ ) ৫ ৭৬৩

৬৩ ও

ও ( )

- ২০১৪ ও

ও ও

Source httpwwwprothom-alocomeconomyarticle1362971

ও ও

ও - ও

২০১৬-১৭ ২০ ও

ও ও lsquo rsquo

ও ১০ ও

৭৭ ২০১৭

১৬ ২৭ ও

২০১৬-২০১৭ ২০ lsquo rsquo

ও-

ও ও ও

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564382

ফ ( ও) ১১

ও ও

ও lsquo১১ ও rsquo

১০ ১৩

( ) ( )

Daily News Flash 12th November 2017

40

- ও

-

( )

( )

lsquo ও

rsquo ও

২৬ ১০

১৬

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564383

১ ৫০

ও ২০৫০

২৩

১৬ ৫৯ ২০১১

২০৩০

( )

ঋ ও ও

৬৮ ৬৭

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564384

ফ lsquo

ও ও

( ) ও

- ও

( ও ) ( )

Daily News Flash 12th November 2017

41

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564388

৪৫ ও

৮৪ ৮৩

৯২০

২৭ ২৪ ৭ ৩

৬ ৮৯

৯ ১ ৭২ ১৪ ৪৮

৪৫

ও ১৭ ৫০

১৯৩ ১০ ২০১৫-১৬ ৪১৩ ১০ ও ও

২০১৪-১৫ ৩৭৫ ৮০ ৩৫ ৭০

২০১৩-১৪ ৫১৫ ও

৮১ ২ ৫১ ৩ ২০

২ ও

৮৪

৮১

- ও

৮৩

৮২ ৯৫

ও ও - ও

ও ও ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17112200 - - - -

ও ৫০

ও ( ) ( )

ও ও

Daily News Flash 12th November 2017

42

ও ও

১০০

৮ ও

৩০০ ( )

ও ১৫০

২০০ ১০০

২০০

২৭ ৭

ও ও

ও ৩০ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111811 - - - -

-

২৭ ১১

১০

( ) ২৮৪

৬ ২৮ ৭ ১৫১

৭৪

ও - ও

ও - ও

ও ৩

৭ ১ ২৩

৯৪৪ ৮৮২ ১০

ও ৪ ৭ ও

৪ ৩৮ ও ১৫ ৪১ ২২ ৭০

২০ ৩৬ ১৩ ও

৪৬ ২২ ২০ ও

১৭ ৩৭১ ও ও

১৭ ও ৪৩ ও

Daily News Flash 12th November 2017

43

৬ ২০ ও ১৬

৩৫ ২০ ২৭

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111810 - - - - -

ও ও

১৩০ ও ১৪০

৫৫ ও ৯৭ ১১৩

৩৭

৩৪

৬১৯৩ ৬২ ১১৬১৭

৩০ ১৯

ও ও

ও - ও

৪৮ ৩১

১২ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111808 - - - - -

৩৫ ও ১০

ও ( ) ও

১০

ও ও -

২ ৩০০

২০১৪ ও

ও ৭ ২০১৪ ও ২০১৫

৫ ৭ ও ১২ ৮ ২৩

২০১৩ ১ ৪২০ ২০১৪ ১০ ৫ ১ ৫৭০

১৩ ৪ ও ১ ৩৫৮ ১০

২০১৬ ও ৩ ৫ ১ ৩১০ ২০১৪

২০১৬ mdash ২ ১ ঋ

১০ ও ২০১৩

২৯ ৮০ ২০১৪ ৫ ৭ ৩১ ৫০ ২০১৫

১২ ৩৫ ৩০ ২০১৬ ৭ ৩৭ ৮০

Daily News Flash 12th November 2017

44

২০১৪ ২০১৬

৩২ ৩৫ ও ৫০ ১৯

৫৬

১৭ ৪৬ ২০১৪ ২০১৬

৭২ ১০০ ও ১১১

২০১৪ ২০১৬ ১৫ ৬৩

৯১ ১১৪ ও ১১৮ ৮ ২৩

৮০ ৯০ ও

ও -

ও -

ও ও ও

১০ ও

১০ ও ২২

৭১ ১২ ৪২

৩২ ২৬ ও

ও ও

( ) ও

ও ২০২১ ও ও

৫ ১ ১৬

ও ও

Source httpbonikbartanetbanglanews2017-11-12137992 - - -- -

৫০০ ৫০০ ও

ও ৩০ ২০১৭

৫০০ ও ঋ ২০১৮

৩০

১ ২০ ও ১৫০

১১

Daily News Flash 12th November 2017

45

৩০০ ৬০০

( ) ও

১ ২৫ ও ১০

১০ ও

ঋ ও

৩০ ২০১৭ ৩ ও ১২ ও

( ) ২ ১৪ ২ ১

ও ৩০ ১১

( ) ও ও

( - ) ৬৬ ৫৫ ৩০

( ) ৩৪ ৯০

ও ও ও

( ) ও

ও ও ২০১৫ ৩০ ১০ ২০১৬

১২

( ) ৪১ ২০ ও ২৩ ৬০

৫০ ও

২০১৪ ৩০০ ও ১৪৮ ৪৬ ৫০

১৯১ ৬২ ৩৭ ৩১

১২ ৪৫ ৫০ ২৪

ও ( ) ১৬ ৫৩

ও ১৫ ২২

Source httpbonikbartanetbanglanews2017-11-12137966৫০০- - - - -ও -

৬৩

- ও ও

৬২ ৯৪ ৫

৬২

৯০

২০১৪ - -

- ও

২০১৬-১৭ ৫ ৬২ ও ২০১৩-১৪

১২

( ) ৯০

-

ও - - ও -

Daily News Flash 12th November 2017

46

- ও

৬২ ৯৪

২০১৩-১৪ ৭০ ৭৮ ২০১৪-১৫ ৫৪ ২২

২০১৫-১৬ ৩৯ ৩৩ ও ২৬ ২৩

ও ২০১৩-১৪

১২ ৩৬ ২০১৪-১৫ ৫ ৯১ ও ২০১৫-

১৬ ১৭ ৩০ ৫ ৬২

৩০ ২০১৭ ১০

২ ৮৬ ও ৩

ও ২৪ ( )

২৭

১৯৬৪ ১২

৪ ও ও ১৯৭২

ও ( )

ও ৩৪ ৮ ও

৯০

৪৫ ও ৫

১৯৬৪ ১৯৭২ ১৯৮৯

১০০ ও ২৬ ১৬ ২০ ৫৪৩ ৭৭

৫ - ৫১ ১৫ ৬০ ও

৩২ ৯০

Source httpbonikbartanetbanglanews2017-11-11137853 - - - - - -৬৩---

( ) ও

১০

ও ও ও

-

ও ও

ও ঋ ও

ও ২০১৪ ও

ও ও

২০১৩

( ) ও

Daily News Flash 12th November 2017

47

২০১৪

২০১৪-১৬ ও

২০১৪

ও ২০১৪

২০১৫ ২৭ lsquo ও rsquo

ও ও

২০১৬ ২৪

( )

ও ও

- ও

ও ও ১৯৮৩ ২০১৬

ঋ ( ) ৫৬০

৮৬৪

২০১৬ ২০১৯ ও

ও ১৫ ২৫ ৩০ ও ৩০

ও ঋ ও

২০১৬ ঋ ১

৩৪২ ঋ ৬ ৫২ ১২৩

ঋ ২ ৪৪৩ ঋ ১০

৮৪ ঋ ৪০

৭২৬

ও ২০১৬ ৭৪১

৪৫৭

২০৭ ২৪৪

১০ ও

ও ও ও ও ও

Daily News Flash 12th November 2017

48

Source httpbonikbartanetbanglanews2017-11-12137998 - - - - - ও- -

( )

৩০ ২০১৭ ২০

( ) ২ ১ ১ ৫৯ (

) ৩০ ( ) ১৫ ৩৭

ও ২৮ ১১

( ) ২৮

২০১৬ ৩০ ১৮ ২০

২০১৪ ও ২০

১৫ ৩০

১৮ ৮০ ও ৯ ৬০

Source httpbonikbartanetbanglanews2017-11-11137850 - - - -

ফ ৭ ২০১৭-১৮ ৭ ৩ ৭৪

( ) ও

( - ) ১ ১৫০ ৫৮

(২০১৬-১৭) ১ ৭৫ ৩ ৬০ ৭

৩ ১ ১৫৯ ২০ ৭৪

ও mdash

৬ ৬৫ ১৭ ৬৩

mdash ও ও

১৫ ৪১ ২২ ৬৯ ১০

১৯ ৬৬ ১০ ২০ ২২

mdash ও ও ও

৩৯ ৫১ ও ২ ও

১৬ ৪৬ ও ও ৬ ৯৯ ও

৩ ৮৫ ৯ ৯৫

১৯ ৮২

৮০

ও ( )

mdash

Daily News Flash 12th November 2017

49

ও ও

Source httpbonikbartanetbanglanews2017-11-10137755 - - - -৭- - --

ফ - ফ ও -ও

-ও

-ও

২৯-১০-২০১১ ৩ ( ) ২৮-১০-২০১৪

৩ ( ) ২৮-১১-২০১৬

২৮-১০-২০১৭ ৩ ( )

২০১৬-১৫৮১৩৪ ৪৪ ০৭-০৮-

২০১২ ১২(৬) ২ ( ) ৬ ( )

-ও - ও ২ ( )

৬ ( ) ও ও

-ও ৩ ( )

-

ও ও

১৯৯৪

২ ২২-০৫-২০১২ -ও ৩

- -

১৯৯৪

-ও

- ও

( )

১৯৯৪

১৯৯৪ -ও

Source httpwwwsharenews24comindexphppage=detailsampnc=1ampnews_id=6587

Daily News Flash 12th November 2017

50

ফ ফ

১৫ ও

-( ) ও

৪৯

১৬ ৮৫

৫১ ৪৯

৪ ৩৬

১৯১৩

১০০ ও ১৯০১ ১৯৬০

Source httpswwwdailystockbangladeshcom - - - -

- ( -১)

( ) ৮

৩০০ ও

( ) ১৬

- ২২৮ ৪৯ ১৮৩ ২০১৮

( ) ও

১৫০

( ) ও ৪০ ৩০

ও ও

ও ও

Source httpswwwdailystockbangladeshcom - - -

Page 40: Daily News Flash, 12th November, 2017 -  · PDF filebanglalink's revenue falls 4.57pc in q3 ... banks lack remedial strategy while npl rises worryingly

Daily News Flash 12th November 2017

40

- ও

-

( )

( )

lsquo ও

rsquo ও

২৬ ১০

১৬

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564383

১ ৫০

ও ২০৫০

২৩

১৬ ৫৯ ২০১১

২০৩০

( )

ঋ ও ও

৬৮ ৬৭

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564384

ফ lsquo

ও ও

( ) ও

- ও

( ও ) ( )

Daily News Flash 12th November 2017

41

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564388

৪৫ ও

৮৪ ৮৩

৯২০

২৭ ২৪ ৭ ৩

৬ ৮৯

৯ ১ ৭২ ১৪ ৪৮

৪৫

ও ১৭ ৫০

১৯৩ ১০ ২০১৫-১৬ ৪১৩ ১০ ও ও

২০১৪-১৫ ৩৭৫ ৮০ ৩৫ ৭০

২০১৩-১৪ ৫১৫ ও

৮১ ২ ৫১ ৩ ২০

২ ও

৮৪

৮১

- ও

৮৩

৮২ ৯৫

ও ও - ও

ও ও ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17112200 - - - -

ও ৫০

ও ( ) ( )

ও ও

Daily News Flash 12th November 2017

42

ও ও

১০০

৮ ও

৩০০ ( )

ও ১৫০

২০০ ১০০

২০০

২৭ ৭

ও ও

ও ৩০ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111811 - - - -

-

২৭ ১১

১০

( ) ২৮৪

৬ ২৮ ৭ ১৫১

৭৪

ও - ও

ও - ও

ও ৩

৭ ১ ২৩

৯৪৪ ৮৮২ ১০

ও ৪ ৭ ও

৪ ৩৮ ও ১৫ ৪১ ২২ ৭০

২০ ৩৬ ১৩ ও

৪৬ ২২ ২০ ও

১৭ ৩৭১ ও ও

১৭ ও ৪৩ ও

Daily News Flash 12th November 2017

43

৬ ২০ ও ১৬

৩৫ ২০ ২৭

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111810 - - - - -

ও ও

১৩০ ও ১৪০

৫৫ ও ৯৭ ১১৩

৩৭

৩৪

৬১৯৩ ৬২ ১১৬১৭

৩০ ১৯

ও ও

ও - ও

৪৮ ৩১

১২ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111808 - - - - -

৩৫ ও ১০

ও ( ) ও

১০

ও ও -

২ ৩০০

২০১৪ ও

ও ৭ ২০১৪ ও ২০১৫

৫ ৭ ও ১২ ৮ ২৩

২০১৩ ১ ৪২০ ২০১৪ ১০ ৫ ১ ৫৭০

১৩ ৪ ও ১ ৩৫৮ ১০

২০১৬ ও ৩ ৫ ১ ৩১০ ২০১৪

২০১৬ mdash ২ ১ ঋ

১০ ও ২০১৩

২৯ ৮০ ২০১৪ ৫ ৭ ৩১ ৫০ ২০১৫

১২ ৩৫ ৩০ ২০১৬ ৭ ৩৭ ৮০

Daily News Flash 12th November 2017

44

২০১৪ ২০১৬

৩২ ৩৫ ও ৫০ ১৯

৫৬

১৭ ৪৬ ২০১৪ ২০১৬

৭২ ১০০ ও ১১১

২০১৪ ২০১৬ ১৫ ৬৩

৯১ ১১৪ ও ১১৮ ৮ ২৩

৮০ ৯০ ও

ও -

ও -

ও ও ও

১০ ও

১০ ও ২২

৭১ ১২ ৪২

৩২ ২৬ ও

ও ও

( ) ও

ও ২০২১ ও ও

৫ ১ ১৬

ও ও

Source httpbonikbartanetbanglanews2017-11-12137992 - - -- -

৫০০ ৫০০ ও

ও ৩০ ২০১৭

৫০০ ও ঋ ২০১৮

৩০

১ ২০ ও ১৫০

১১

Daily News Flash 12th November 2017

45

৩০০ ৬০০

( ) ও

১ ২৫ ও ১০

১০ ও

ঋ ও

৩০ ২০১৭ ৩ ও ১২ ও

( ) ২ ১৪ ২ ১

ও ৩০ ১১

( ) ও ও

( - ) ৬৬ ৫৫ ৩০

( ) ৩৪ ৯০

ও ও ও

( ) ও

ও ও ২০১৫ ৩০ ১০ ২০১৬

১২

( ) ৪১ ২০ ও ২৩ ৬০

৫০ ও

২০১৪ ৩০০ ও ১৪৮ ৪৬ ৫০

১৯১ ৬২ ৩৭ ৩১

১২ ৪৫ ৫০ ২৪

ও ( ) ১৬ ৫৩

ও ১৫ ২২

Source httpbonikbartanetbanglanews2017-11-12137966৫০০- - - - -ও -

৬৩

- ও ও

৬২ ৯৪ ৫

৬২

৯০

২০১৪ - -

- ও

২০১৬-১৭ ৫ ৬২ ও ২০১৩-১৪

১২

( ) ৯০

-

ও - - ও -

Daily News Flash 12th November 2017

46

- ও

৬২ ৯৪

২০১৩-১৪ ৭০ ৭৮ ২০১৪-১৫ ৫৪ ২২

২০১৫-১৬ ৩৯ ৩৩ ও ২৬ ২৩

ও ২০১৩-১৪

১২ ৩৬ ২০১৪-১৫ ৫ ৯১ ও ২০১৫-

১৬ ১৭ ৩০ ৫ ৬২

৩০ ২০১৭ ১০

২ ৮৬ ও ৩

ও ২৪ ( )

২৭

১৯৬৪ ১২

৪ ও ও ১৯৭২

ও ( )

ও ৩৪ ৮ ও

৯০

৪৫ ও ৫

১৯৬৪ ১৯৭২ ১৯৮৯

১০০ ও ২৬ ১৬ ২০ ৫৪৩ ৭৭

৫ - ৫১ ১৫ ৬০ ও

৩২ ৯০

Source httpbonikbartanetbanglanews2017-11-11137853 - - - - - -৬৩---

( ) ও

১০

ও ও ও

-

ও ও

ও ঋ ও

ও ২০১৪ ও

ও ও

২০১৩

( ) ও

Daily News Flash 12th November 2017

47

২০১৪

২০১৪-১৬ ও

২০১৪

ও ২০১৪

২০১৫ ২৭ lsquo ও rsquo

ও ও

২০১৬ ২৪

( )

ও ও

- ও

ও ও ১৯৮৩ ২০১৬

ঋ ( ) ৫৬০

৮৬৪

২০১৬ ২০১৯ ও

ও ১৫ ২৫ ৩০ ও ৩০

ও ঋ ও

২০১৬ ঋ ১

৩৪২ ঋ ৬ ৫২ ১২৩

ঋ ২ ৪৪৩ ঋ ১০

৮৪ ঋ ৪০

৭২৬

ও ২০১৬ ৭৪১

৪৫৭

২০৭ ২৪৪

১০ ও

ও ও ও ও ও

Daily News Flash 12th November 2017

48

Source httpbonikbartanetbanglanews2017-11-12137998 - - - - - ও- -

( )

৩০ ২০১৭ ২০

( ) ২ ১ ১ ৫৯ (

) ৩০ ( ) ১৫ ৩৭

ও ২৮ ১১

( ) ২৮

২০১৬ ৩০ ১৮ ২০

২০১৪ ও ২০

১৫ ৩০

১৮ ৮০ ও ৯ ৬০

Source httpbonikbartanetbanglanews2017-11-11137850 - - - -

ফ ৭ ২০১৭-১৮ ৭ ৩ ৭৪

( ) ও

( - ) ১ ১৫০ ৫৮

(২০১৬-১৭) ১ ৭৫ ৩ ৬০ ৭

৩ ১ ১৫৯ ২০ ৭৪

ও mdash

৬ ৬৫ ১৭ ৬৩

mdash ও ও

১৫ ৪১ ২২ ৬৯ ১০

১৯ ৬৬ ১০ ২০ ২২

mdash ও ও ও

৩৯ ৫১ ও ২ ও

১৬ ৪৬ ও ও ৬ ৯৯ ও

৩ ৮৫ ৯ ৯৫

১৯ ৮২

৮০

ও ( )

mdash

Daily News Flash 12th November 2017

49

ও ও

Source httpbonikbartanetbanglanews2017-11-10137755 - - - -৭- - --

ফ - ফ ও -ও

-ও

-ও

২৯-১০-২০১১ ৩ ( ) ২৮-১০-২০১৪

৩ ( ) ২৮-১১-২০১৬

২৮-১০-২০১৭ ৩ ( )

২০১৬-১৫৮১৩৪ ৪৪ ০৭-০৮-

২০১২ ১২(৬) ২ ( ) ৬ ( )

-ও - ও ২ ( )

৬ ( ) ও ও

-ও ৩ ( )

-

ও ও

১৯৯৪

২ ২২-০৫-২০১২ -ও ৩

- -

১৯৯৪

-ও

- ও

( )

১৯৯৪

১৯৯৪ -ও

Source httpwwwsharenews24comindexphppage=detailsampnc=1ampnews_id=6587

Daily News Flash 12th November 2017

50

ফ ফ

১৫ ও

-( ) ও

৪৯

১৬ ৮৫

৫১ ৪৯

৪ ৩৬

১৯১৩

১০০ ও ১৯০১ ১৯৬০

Source httpswwwdailystockbangladeshcom - - - -

- ( -১)

( ) ৮

৩০০ ও

( ) ১৬

- ২২৮ ৪৯ ১৮৩ ২০১৮

( ) ও

১৫০

( ) ও ৪০ ৩০

ও ও

ও ও

Source httpswwwdailystockbangladeshcom - - -

Page 41: Daily News Flash, 12th November, 2017 -  · PDF filebanglalink's revenue falls 4.57pc in q3 ... banks lack remedial strategy while npl rises worryingly

Daily News Flash 12th November 2017

41

Source httpwwwkalerkanthocomprint-editionindustry-business20171112564388

৪৫ ও

৮৪ ৮৩

৯২০

২৭ ২৪ ৭ ৩

৬ ৮৯

৯ ১ ৭২ ১৪ ৪৮

৪৫

ও ১৭ ৫০

১৯৩ ১০ ২০১৫-১৬ ৪১৩ ১০ ও ও

২০১৪-১৫ ৩৭৫ ৮০ ৩৫ ৭০

২০১৩-১৪ ৫১৫ ও

৮১ ২ ৫১ ৩ ২০

২ ও

৮৪

৮১

- ও

৮৩

৮২ ৯৫

ও ও - ও

ও ও ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17112200 - - - -

ও ৫০

ও ( ) ( )

ও ও

Daily News Flash 12th November 2017

42

ও ও

১০০

৮ ও

৩০০ ( )

ও ১৫০

২০০ ১০০

২০০

২৭ ৭

ও ও

ও ৩০ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111811 - - - -

-

২৭ ১১

১০

( ) ২৮৪

৬ ২৮ ৭ ১৫১

৭৪

ও - ও

ও - ও

ও ৩

৭ ১ ২৩

৯৪৪ ৮৮২ ১০

ও ৪ ৭ ও

৪ ৩৮ ও ১৫ ৪১ ২২ ৭০

২০ ৩৬ ১৩ ও

৪৬ ২২ ২০ ও

১৭ ৩৭১ ও ও

১৭ ও ৪৩ ও

Daily News Flash 12th November 2017

43

৬ ২০ ও ১৬

৩৫ ২০ ২৭

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111810 - - - - -

ও ও

১৩০ ও ১৪০

৫৫ ও ৯৭ ১১৩

৩৭

৩৪

৬১৯৩ ৬২ ১১৬১৭

৩০ ১৯

ও ও

ও - ও

৪৮ ৩১

১২ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111808 - - - - -

৩৫ ও ১০

ও ( ) ও

১০

ও ও -

২ ৩০০

২০১৪ ও

ও ৭ ২০১৪ ও ২০১৫

৫ ৭ ও ১২ ৮ ২৩

২০১৩ ১ ৪২০ ২০১৪ ১০ ৫ ১ ৫৭০

১৩ ৪ ও ১ ৩৫৮ ১০

২০১৬ ও ৩ ৫ ১ ৩১০ ২০১৪

২০১৬ mdash ২ ১ ঋ

১০ ও ২০১৩

২৯ ৮০ ২০১৪ ৫ ৭ ৩১ ৫০ ২০১৫

১২ ৩৫ ৩০ ২০১৬ ৭ ৩৭ ৮০

Daily News Flash 12th November 2017

44

২০১৪ ২০১৬

৩২ ৩৫ ও ৫০ ১৯

৫৬

১৭ ৪৬ ২০১৪ ২০১৬

৭২ ১০০ ও ১১১

২০১৪ ২০১৬ ১৫ ৬৩

৯১ ১১৪ ও ১১৮ ৮ ২৩

৮০ ৯০ ও

ও -

ও -

ও ও ও

১০ ও

১০ ও ২২

৭১ ১২ ৪২

৩২ ২৬ ও

ও ও

( ) ও

ও ২০২১ ও ও

৫ ১ ১৬

ও ও

Source httpbonikbartanetbanglanews2017-11-12137992 - - -- -

৫০০ ৫০০ ও

ও ৩০ ২০১৭

৫০০ ও ঋ ২০১৮

৩০

১ ২০ ও ১৫০

১১

Daily News Flash 12th November 2017

45

৩০০ ৬০০

( ) ও

১ ২৫ ও ১০

১০ ও

ঋ ও

৩০ ২০১৭ ৩ ও ১২ ও

( ) ২ ১৪ ২ ১

ও ৩০ ১১

( ) ও ও

( - ) ৬৬ ৫৫ ৩০

( ) ৩৪ ৯০

ও ও ও

( ) ও

ও ও ২০১৫ ৩০ ১০ ২০১৬

১২

( ) ৪১ ২০ ও ২৩ ৬০

৫০ ও

২০১৪ ৩০০ ও ১৪৮ ৪৬ ৫০

১৯১ ৬২ ৩৭ ৩১

১২ ৪৫ ৫০ ২৪

ও ( ) ১৬ ৫৩

ও ১৫ ২২

Source httpbonikbartanetbanglanews2017-11-12137966৫০০- - - - -ও -

৬৩

- ও ও

৬২ ৯৪ ৫

৬২

৯০

২০১৪ - -

- ও

২০১৬-১৭ ৫ ৬২ ও ২০১৩-১৪

১২

( ) ৯০

-

ও - - ও -

Daily News Flash 12th November 2017

46

- ও

৬২ ৯৪

২০১৩-১৪ ৭০ ৭৮ ২০১৪-১৫ ৫৪ ২২

২০১৫-১৬ ৩৯ ৩৩ ও ২৬ ২৩

ও ২০১৩-১৪

১২ ৩৬ ২০১৪-১৫ ৫ ৯১ ও ২০১৫-

১৬ ১৭ ৩০ ৫ ৬২

৩০ ২০১৭ ১০

২ ৮৬ ও ৩

ও ২৪ ( )

২৭

১৯৬৪ ১২

৪ ও ও ১৯৭২

ও ( )

ও ৩৪ ৮ ও

৯০

৪৫ ও ৫

১৯৬৪ ১৯৭২ ১৯৮৯

১০০ ও ২৬ ১৬ ২০ ৫৪৩ ৭৭

৫ - ৫১ ১৫ ৬০ ও

৩২ ৯০

Source httpbonikbartanetbanglanews2017-11-11137853 - - - - - -৬৩---

( ) ও

১০

ও ও ও

-

ও ও

ও ঋ ও

ও ২০১৪ ও

ও ও

২০১৩

( ) ও

Daily News Flash 12th November 2017

47

২০১৪

২০১৪-১৬ ও

২০১৪

ও ২০১৪

২০১৫ ২৭ lsquo ও rsquo

ও ও

২০১৬ ২৪

( )

ও ও

- ও

ও ও ১৯৮৩ ২০১৬

ঋ ( ) ৫৬০

৮৬৪

২০১৬ ২০১৯ ও

ও ১৫ ২৫ ৩০ ও ৩০

ও ঋ ও

২০১৬ ঋ ১

৩৪২ ঋ ৬ ৫২ ১২৩

ঋ ২ ৪৪৩ ঋ ১০

৮৪ ঋ ৪০

৭২৬

ও ২০১৬ ৭৪১

৪৫৭

২০৭ ২৪৪

১০ ও

ও ও ও ও ও

Daily News Flash 12th November 2017

48

Source httpbonikbartanetbanglanews2017-11-12137998 - - - - - ও- -

( )

৩০ ২০১৭ ২০

( ) ২ ১ ১ ৫৯ (

) ৩০ ( ) ১৫ ৩৭

ও ২৮ ১১

( ) ২৮

২০১৬ ৩০ ১৮ ২০

২০১৪ ও ২০

১৫ ৩০

১৮ ৮০ ও ৯ ৬০

Source httpbonikbartanetbanglanews2017-11-11137850 - - - -

ফ ৭ ২০১৭-১৮ ৭ ৩ ৭৪

( ) ও

( - ) ১ ১৫০ ৫৮

(২০১৬-১৭) ১ ৭৫ ৩ ৬০ ৭

৩ ১ ১৫৯ ২০ ৭৪

ও mdash

৬ ৬৫ ১৭ ৬৩

mdash ও ও

১৫ ৪১ ২২ ৬৯ ১০

১৯ ৬৬ ১০ ২০ ২২

mdash ও ও ও

৩৯ ৫১ ও ২ ও

১৬ ৪৬ ও ও ৬ ৯৯ ও

৩ ৮৫ ৯ ৯৫

১৯ ৮২

৮০

ও ( )

mdash

Daily News Flash 12th November 2017

49

ও ও

Source httpbonikbartanetbanglanews2017-11-10137755 - - - -৭- - --

ফ - ফ ও -ও

-ও

-ও

২৯-১০-২০১১ ৩ ( ) ২৮-১০-২০১৪

৩ ( ) ২৮-১১-২০১৬

২৮-১০-২০১৭ ৩ ( )

২০১৬-১৫৮১৩৪ ৪৪ ০৭-০৮-

২০১২ ১২(৬) ২ ( ) ৬ ( )

-ও - ও ২ ( )

৬ ( ) ও ও

-ও ৩ ( )

-

ও ও

১৯৯৪

২ ২২-০৫-২০১২ -ও ৩

- -

১৯৯৪

-ও

- ও

( )

১৯৯৪

১৯৯৪ -ও

Source httpwwwsharenews24comindexphppage=detailsampnc=1ampnews_id=6587

Daily News Flash 12th November 2017

50

ফ ফ

১৫ ও

-( ) ও

৪৯

১৬ ৮৫

৫১ ৪৯

৪ ৩৬

১৯১৩

১০০ ও ১৯০১ ১৯৬০

Source httpswwwdailystockbangladeshcom - - - -

- ( -১)

( ) ৮

৩০০ ও

( ) ১৬

- ২২৮ ৪৯ ১৮৩ ২০১৮

( ) ও

১৫০

( ) ও ৪০ ৩০

ও ও

ও ও

Source httpswwwdailystockbangladeshcom - - -

Page 42: Daily News Flash, 12th November, 2017 -  · PDF filebanglalink's revenue falls 4.57pc in q3 ... banks lack remedial strategy while npl rises worryingly

Daily News Flash 12th November 2017

42

ও ও

১০০

৮ ও

৩০০ ( )

ও ১৫০

২০০ ১০০

২০০

২৭ ৭

ও ও

ও ৩০ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111811 - - - -

-

২৭ ১১

১০

( ) ২৮৪

৬ ২৮ ৭ ১৫১

৭৪

ও - ও

ও - ও

ও ৩

৭ ১ ২৩

৯৪৪ ৮৮২ ১০

ও ৪ ৭ ও

৪ ৩৮ ও ১৫ ৪১ ২২ ৭০

২০ ৩৬ ১৩ ও

৪৬ ২২ ২০ ও

১৭ ৩৭১ ও ও

১৭ ও ৪৩ ও

Daily News Flash 12th November 2017

43

৬ ২০ ও ১৬

৩৫ ২০ ২৭

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111810 - - - - -

ও ও

১৩০ ও ১৪০

৫৫ ও ৯৭ ১১৩

৩৭

৩৪

৬১৯৩ ৬২ ১১৬১৭

৩০ ১৯

ও ও

ও - ও

৪৮ ৩১

১২ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111808 - - - - -

৩৫ ও ১০

ও ( ) ও

১০

ও ও -

২ ৩০০

২০১৪ ও

ও ৭ ২০১৪ ও ২০১৫

৫ ৭ ও ১২ ৮ ২৩

২০১৩ ১ ৪২০ ২০১৪ ১০ ৫ ১ ৫৭০

১৩ ৪ ও ১ ৩৫৮ ১০

২০১৬ ও ৩ ৫ ১ ৩১০ ২০১৪

২০১৬ mdash ২ ১ ঋ

১০ ও ২০১৩

২৯ ৮০ ২০১৪ ৫ ৭ ৩১ ৫০ ২০১৫

১২ ৩৫ ৩০ ২০১৬ ৭ ৩৭ ৮০

Daily News Flash 12th November 2017

44

২০১৪ ২০১৬

৩২ ৩৫ ও ৫০ ১৯

৫৬

১৭ ৪৬ ২০১৪ ২০১৬

৭২ ১০০ ও ১১১

২০১৪ ২০১৬ ১৫ ৬৩

৯১ ১১৪ ও ১১৮ ৮ ২৩

৮০ ৯০ ও

ও -

ও -

ও ও ও

১০ ও

১০ ও ২২

৭১ ১২ ৪২

৩২ ২৬ ও

ও ও

( ) ও

ও ২০২১ ও ও

৫ ১ ১৬

ও ও

Source httpbonikbartanetbanglanews2017-11-12137992 - - -- -

৫০০ ৫০০ ও

ও ৩০ ২০১৭

৫০০ ও ঋ ২০১৮

৩০

১ ২০ ও ১৫০

১১

Daily News Flash 12th November 2017

45

৩০০ ৬০০

( ) ও

১ ২৫ ও ১০

১০ ও

ঋ ও

৩০ ২০১৭ ৩ ও ১২ ও

( ) ২ ১৪ ২ ১

ও ৩০ ১১

( ) ও ও

( - ) ৬৬ ৫৫ ৩০

( ) ৩৪ ৯০

ও ও ও

( ) ও

ও ও ২০১৫ ৩০ ১০ ২০১৬

১২

( ) ৪১ ২০ ও ২৩ ৬০

৫০ ও

২০১৪ ৩০০ ও ১৪৮ ৪৬ ৫০

১৯১ ৬২ ৩৭ ৩১

১২ ৪৫ ৫০ ২৪

ও ( ) ১৬ ৫৩

ও ১৫ ২২

Source httpbonikbartanetbanglanews2017-11-12137966৫০০- - - - -ও -

৬৩

- ও ও

৬২ ৯৪ ৫

৬২

৯০

২০১৪ - -

- ও

২০১৬-১৭ ৫ ৬২ ও ২০১৩-১৪

১২

( ) ৯০

-

ও - - ও -

Daily News Flash 12th November 2017

46

- ও

৬২ ৯৪

২০১৩-১৪ ৭০ ৭৮ ২০১৪-১৫ ৫৪ ২২

২০১৫-১৬ ৩৯ ৩৩ ও ২৬ ২৩

ও ২০১৩-১৪

১২ ৩৬ ২০১৪-১৫ ৫ ৯১ ও ২০১৫-

১৬ ১৭ ৩০ ৫ ৬২

৩০ ২০১৭ ১০

২ ৮৬ ও ৩

ও ২৪ ( )

২৭

১৯৬৪ ১২

৪ ও ও ১৯৭২

ও ( )

ও ৩৪ ৮ ও

৯০

৪৫ ও ৫

১৯৬৪ ১৯৭২ ১৯৮৯

১০০ ও ২৬ ১৬ ২০ ৫৪৩ ৭৭

৫ - ৫১ ১৫ ৬০ ও

৩২ ৯০

Source httpbonikbartanetbanglanews2017-11-11137853 - - - - - -৬৩---

( ) ও

১০

ও ও ও

-

ও ও

ও ঋ ও

ও ২০১৪ ও

ও ও

২০১৩

( ) ও

Daily News Flash 12th November 2017

47

২০১৪

২০১৪-১৬ ও

২০১৪

ও ২০১৪

২০১৫ ২৭ lsquo ও rsquo

ও ও

২০১৬ ২৪

( )

ও ও

- ও

ও ও ১৯৮৩ ২০১৬

ঋ ( ) ৫৬০

৮৬৪

২০১৬ ২০১৯ ও

ও ১৫ ২৫ ৩০ ও ৩০

ও ঋ ও

২০১৬ ঋ ১

৩৪২ ঋ ৬ ৫২ ১২৩

ঋ ২ ৪৪৩ ঋ ১০

৮৪ ঋ ৪০

৭২৬

ও ২০১৬ ৭৪১

৪৫৭

২০৭ ২৪৪

১০ ও

ও ও ও ও ও

Daily News Flash 12th November 2017

48

Source httpbonikbartanetbanglanews2017-11-12137998 - - - - - ও- -

( )

৩০ ২০১৭ ২০

( ) ২ ১ ১ ৫৯ (

) ৩০ ( ) ১৫ ৩৭

ও ২৮ ১১

( ) ২৮

২০১৬ ৩০ ১৮ ২০

২০১৪ ও ২০

১৫ ৩০

১৮ ৮০ ও ৯ ৬০

Source httpbonikbartanetbanglanews2017-11-11137850 - - - -

ফ ৭ ২০১৭-১৮ ৭ ৩ ৭৪

( ) ও

( - ) ১ ১৫০ ৫৮

(২০১৬-১৭) ১ ৭৫ ৩ ৬০ ৭

৩ ১ ১৫৯ ২০ ৭৪

ও mdash

৬ ৬৫ ১৭ ৬৩

mdash ও ও

১৫ ৪১ ২২ ৬৯ ১০

১৯ ৬৬ ১০ ২০ ২২

mdash ও ও ও

৩৯ ৫১ ও ২ ও

১৬ ৪৬ ও ও ৬ ৯৯ ও

৩ ৮৫ ৯ ৯৫

১৯ ৮২

৮০

ও ( )

mdash

Daily News Flash 12th November 2017

49

ও ও

Source httpbonikbartanetbanglanews2017-11-10137755 - - - -৭- - --

ফ - ফ ও -ও

-ও

-ও

২৯-১০-২০১১ ৩ ( ) ২৮-১০-২০১৪

৩ ( ) ২৮-১১-২০১৬

২৮-১০-২০১৭ ৩ ( )

২০১৬-১৫৮১৩৪ ৪৪ ০৭-০৮-

২০১২ ১২(৬) ২ ( ) ৬ ( )

-ও - ও ২ ( )

৬ ( ) ও ও

-ও ৩ ( )

-

ও ও

১৯৯৪

২ ২২-০৫-২০১২ -ও ৩

- -

১৯৯৪

-ও

- ও

( )

১৯৯৪

১৯৯৪ -ও

Source httpwwwsharenews24comindexphppage=detailsampnc=1ampnews_id=6587

Daily News Flash 12th November 2017

50

ফ ফ

১৫ ও

-( ) ও

৪৯

১৬ ৮৫

৫১ ৪৯

৪ ৩৬

১৯১৩

১০০ ও ১৯০১ ১৯৬০

Source httpswwwdailystockbangladeshcom - - - -

- ( -১)

( ) ৮

৩০০ ও

( ) ১৬

- ২২৮ ৪৯ ১৮৩ ২০১৮

( ) ও

১৫০

( ) ও ৪০ ৩০

ও ও

ও ও

Source httpswwwdailystockbangladeshcom - - -

Page 43: Daily News Flash, 12th November, 2017 -  · PDF filebanglalink's revenue falls 4.57pc in q3 ... banks lack remedial strategy while npl rises worryingly

Daily News Flash 12th November 2017

43

৬ ২০ ও ১৬

৩৫ ২০ ২৭

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111810 - - - - -

ও ও

১৩০ ও ১৪০

৫৫ ও ৯৭ ১১৩

৩৭

৩৪

৬১৯৩ ৬২ ১১৬১৭

৩০ ১৯

ও ও

ও - ও

৪৮ ৩১

১২ ও

Source httpwwwsamakalcomtodays-print-editiontp-industry-tradearticle17111808 - - - - -

৩৫ ও ১০

ও ( ) ও

১০

ও ও -

২ ৩০০

২০১৪ ও

ও ৭ ২০১৪ ও ২০১৫

৫ ৭ ও ১২ ৮ ২৩

২০১৩ ১ ৪২০ ২০১৪ ১০ ৫ ১ ৫৭০

১৩ ৪ ও ১ ৩৫৮ ১০

২০১৬ ও ৩ ৫ ১ ৩১০ ২০১৪

২০১৬ mdash ২ ১ ঋ

১০ ও ২০১৩

২৯ ৮০ ২০১৪ ৫ ৭ ৩১ ৫০ ২০১৫

১২ ৩৫ ৩০ ২০১৬ ৭ ৩৭ ৮০

Daily News Flash 12th November 2017

44

২০১৪ ২০১৬

৩২ ৩৫ ও ৫০ ১৯

৫৬

১৭ ৪৬ ২০১৪ ২০১৬

৭২ ১০০ ও ১১১

২০১৪ ২০১৬ ১৫ ৬৩

৯১ ১১৪ ও ১১৮ ৮ ২৩

৮০ ৯০ ও

ও -

ও -

ও ও ও

১০ ও

১০ ও ২২

৭১ ১২ ৪২

৩২ ২৬ ও

ও ও

( ) ও

ও ২০২১ ও ও

৫ ১ ১৬

ও ও

Source httpbonikbartanetbanglanews2017-11-12137992 - - -- -

৫০০ ৫০০ ও

ও ৩০ ২০১৭

৫০০ ও ঋ ২০১৮

৩০

১ ২০ ও ১৫০

১১

Daily News Flash 12th November 2017

45

৩০০ ৬০০

( ) ও

১ ২৫ ও ১০

১০ ও

ঋ ও

৩০ ২০১৭ ৩ ও ১২ ও

( ) ২ ১৪ ২ ১

ও ৩০ ১১

( ) ও ও

( - ) ৬৬ ৫৫ ৩০

( ) ৩৪ ৯০

ও ও ও

( ) ও

ও ও ২০১৫ ৩০ ১০ ২০১৬

১২

( ) ৪১ ২০ ও ২৩ ৬০

৫০ ও

২০১৪ ৩০০ ও ১৪৮ ৪৬ ৫০

১৯১ ৬২ ৩৭ ৩১

১২ ৪৫ ৫০ ২৪

ও ( ) ১৬ ৫৩

ও ১৫ ২২

Source httpbonikbartanetbanglanews2017-11-12137966৫০০- - - - -ও -

৬৩

- ও ও

৬২ ৯৪ ৫

৬২

৯০

২০১৪ - -

- ও

২০১৬-১৭ ৫ ৬২ ও ২০১৩-১৪

১২

( ) ৯০

-

ও - - ও -

Daily News Flash 12th November 2017

46

- ও

৬২ ৯৪

২০১৩-১৪ ৭০ ৭৮ ২০১৪-১৫ ৫৪ ২২

২০১৫-১৬ ৩৯ ৩৩ ও ২৬ ২৩

ও ২০১৩-১৪

১২ ৩৬ ২০১৪-১৫ ৫ ৯১ ও ২০১৫-

১৬ ১৭ ৩০ ৫ ৬২

৩০ ২০১৭ ১০

২ ৮৬ ও ৩

ও ২৪ ( )

২৭

১৯৬৪ ১২

৪ ও ও ১৯৭২

ও ( )

ও ৩৪ ৮ ও

৯০

৪৫ ও ৫

১৯৬৪ ১৯৭২ ১৯৮৯

১০০ ও ২৬ ১৬ ২০ ৫৪৩ ৭৭

৫ - ৫১ ১৫ ৬০ ও

৩২ ৯০

Source httpbonikbartanetbanglanews2017-11-11137853 - - - - - -৬৩---

( ) ও

১০

ও ও ও

-

ও ও

ও ঋ ও

ও ২০১৪ ও

ও ও

২০১৩

( ) ও

Daily News Flash 12th November 2017

47

২০১৪

২০১৪-১৬ ও

২০১৪

ও ২০১৪

২০১৫ ২৭ lsquo ও rsquo

ও ও

২০১৬ ২৪

( )

ও ও

- ও

ও ও ১৯৮৩ ২০১৬

ঋ ( ) ৫৬০

৮৬৪

২০১৬ ২০১৯ ও

ও ১৫ ২৫ ৩০ ও ৩০

ও ঋ ও

২০১৬ ঋ ১

৩৪২ ঋ ৬ ৫২ ১২৩

ঋ ২ ৪৪৩ ঋ ১০

৮৪ ঋ ৪০

৭২৬

ও ২০১৬ ৭৪১

৪৫৭

২০৭ ২৪৪

১০ ও

ও ও ও ও ও

Daily News Flash 12th November 2017

48

Source httpbonikbartanetbanglanews2017-11-12137998 - - - - - ও- -

( )

৩০ ২০১৭ ২০

( ) ২ ১ ১ ৫৯ (

) ৩০ ( ) ১৫ ৩৭

ও ২৮ ১১

( ) ২৮

২০১৬ ৩০ ১৮ ২০

২০১৪ ও ২০

১৫ ৩০

১৮ ৮০ ও ৯ ৬০

Source httpbonikbartanetbanglanews2017-11-11137850 - - - -

ফ ৭ ২০১৭-১৮ ৭ ৩ ৭৪

( ) ও

( - ) ১ ১৫০ ৫৮

(২০১৬-১৭) ১ ৭৫ ৩ ৬০ ৭

৩ ১ ১৫৯ ২০ ৭৪

ও mdash

৬ ৬৫ ১৭ ৬৩

mdash ও ও

১৫ ৪১ ২২ ৬৯ ১০

১৯ ৬৬ ১০ ২০ ২২

mdash ও ও ও

৩৯ ৫১ ও ২ ও

১৬ ৪৬ ও ও ৬ ৯৯ ও

৩ ৮৫ ৯ ৯৫

১৯ ৮২

৮০

ও ( )

mdash

Daily News Flash 12th November 2017

49

ও ও

Source httpbonikbartanetbanglanews2017-11-10137755 - - - -৭- - --

ফ - ফ ও -ও

-ও

-ও

২৯-১০-২০১১ ৩ ( ) ২৮-১০-২০১৪

৩ ( ) ২৮-১১-২০১৬

২৮-১০-২০১৭ ৩ ( )

২০১৬-১৫৮১৩৪ ৪৪ ০৭-০৮-

২০১২ ১২(৬) ২ ( ) ৬ ( )

-ও - ও ২ ( )

৬ ( ) ও ও

-ও ৩ ( )

-

ও ও

১৯৯৪

২ ২২-০৫-২০১২ -ও ৩

- -

১৯৯৪

-ও

- ও

( )

১৯৯৪

১৯৯৪ -ও

Source httpwwwsharenews24comindexphppage=detailsampnc=1ampnews_id=6587

Daily News Flash 12th November 2017

50

ফ ফ

১৫ ও

-( ) ও

৪৯

১৬ ৮৫

৫১ ৪৯

৪ ৩৬

১৯১৩

১০০ ও ১৯০১ ১৯৬০

Source httpswwwdailystockbangladeshcom - - - -

- ( -১)

( ) ৮

৩০০ ও

( ) ১৬

- ২২৮ ৪৯ ১৮৩ ২০১৮

( ) ও

১৫০

( ) ও ৪০ ৩০

ও ও

ও ও

Source httpswwwdailystockbangladeshcom - - -

Page 44: Daily News Flash, 12th November, 2017 -  · PDF filebanglalink's revenue falls 4.57pc in q3 ... banks lack remedial strategy while npl rises worryingly

Daily News Flash 12th November 2017

44

২০১৪ ২০১৬

৩২ ৩৫ ও ৫০ ১৯

৫৬

১৭ ৪৬ ২০১৪ ২০১৬

৭২ ১০০ ও ১১১

২০১৪ ২০১৬ ১৫ ৬৩

৯১ ১১৪ ও ১১৮ ৮ ২৩

৮০ ৯০ ও

ও -

ও -

ও ও ও

১০ ও

১০ ও ২২

৭১ ১২ ৪২

৩২ ২৬ ও

ও ও

( ) ও

ও ২০২১ ও ও

৫ ১ ১৬

ও ও

Source httpbonikbartanetbanglanews2017-11-12137992 - - -- -

৫০০ ৫০০ ও

ও ৩০ ২০১৭

৫০০ ও ঋ ২০১৮

৩০

১ ২০ ও ১৫০

১১

Daily News Flash 12th November 2017

45

৩০০ ৬০০

( ) ও

১ ২৫ ও ১০

১০ ও

ঋ ও

৩০ ২০১৭ ৩ ও ১২ ও

( ) ২ ১৪ ২ ১

ও ৩০ ১১

( ) ও ও

( - ) ৬৬ ৫৫ ৩০

( ) ৩৪ ৯০

ও ও ও

( ) ও

ও ও ২০১৫ ৩০ ১০ ২০১৬

১২

( ) ৪১ ২০ ও ২৩ ৬০

৫০ ও

২০১৪ ৩০০ ও ১৪৮ ৪৬ ৫০

১৯১ ৬২ ৩৭ ৩১

১২ ৪৫ ৫০ ২৪

ও ( ) ১৬ ৫৩

ও ১৫ ২২

Source httpbonikbartanetbanglanews2017-11-12137966৫০০- - - - -ও -

৬৩

- ও ও

৬২ ৯৪ ৫

৬২

৯০

২০১৪ - -

- ও

২০১৬-১৭ ৫ ৬২ ও ২০১৩-১৪

১২

( ) ৯০

-

ও - - ও -

Daily News Flash 12th November 2017

46

- ও

৬২ ৯৪

২০১৩-১৪ ৭০ ৭৮ ২০১৪-১৫ ৫৪ ২২

২০১৫-১৬ ৩৯ ৩৩ ও ২৬ ২৩

ও ২০১৩-১৪

১২ ৩৬ ২০১৪-১৫ ৫ ৯১ ও ২০১৫-

১৬ ১৭ ৩০ ৫ ৬২

৩০ ২০১৭ ১০

২ ৮৬ ও ৩

ও ২৪ ( )

২৭

১৯৬৪ ১২

৪ ও ও ১৯৭২

ও ( )

ও ৩৪ ৮ ও

৯০

৪৫ ও ৫

১৯৬৪ ১৯৭২ ১৯৮৯

১০০ ও ২৬ ১৬ ২০ ৫৪৩ ৭৭

৫ - ৫১ ১৫ ৬০ ও

৩২ ৯০

Source httpbonikbartanetbanglanews2017-11-11137853 - - - - - -৬৩---

( ) ও

১০

ও ও ও

-

ও ও

ও ঋ ও

ও ২০১৪ ও

ও ও

২০১৩

( ) ও

Daily News Flash 12th November 2017

47

২০১৪

২০১৪-১৬ ও

২০১৪

ও ২০১৪

২০১৫ ২৭ lsquo ও rsquo

ও ও

২০১৬ ২৪

( )

ও ও

- ও

ও ও ১৯৮৩ ২০১৬

ঋ ( ) ৫৬০

৮৬৪

২০১৬ ২০১৯ ও

ও ১৫ ২৫ ৩০ ও ৩০

ও ঋ ও

২০১৬ ঋ ১

৩৪২ ঋ ৬ ৫২ ১২৩

ঋ ২ ৪৪৩ ঋ ১০

৮৪ ঋ ৪০

৭২৬

ও ২০১৬ ৭৪১

৪৫৭

২০৭ ২৪৪

১০ ও

ও ও ও ও ও

Daily News Flash 12th November 2017

48

Source httpbonikbartanetbanglanews2017-11-12137998 - - - - - ও- -

( )

৩০ ২০১৭ ২০

( ) ২ ১ ১ ৫৯ (

) ৩০ ( ) ১৫ ৩৭

ও ২৮ ১১

( ) ২৮

২০১৬ ৩০ ১৮ ২০

২০১৪ ও ২০

১৫ ৩০

১৮ ৮০ ও ৯ ৬০

Source httpbonikbartanetbanglanews2017-11-11137850 - - - -

ফ ৭ ২০১৭-১৮ ৭ ৩ ৭৪

( ) ও

( - ) ১ ১৫০ ৫৮

(২০১৬-১৭) ১ ৭৫ ৩ ৬০ ৭

৩ ১ ১৫৯ ২০ ৭৪

ও mdash

৬ ৬৫ ১৭ ৬৩

mdash ও ও

১৫ ৪১ ২২ ৬৯ ১০

১৯ ৬৬ ১০ ২০ ২২

mdash ও ও ও

৩৯ ৫১ ও ২ ও

১৬ ৪৬ ও ও ৬ ৯৯ ও

৩ ৮৫ ৯ ৯৫

১৯ ৮২

৮০

ও ( )

mdash

Daily News Flash 12th November 2017

49

ও ও

Source httpbonikbartanetbanglanews2017-11-10137755 - - - -৭- - --

ফ - ফ ও -ও

-ও

-ও

২৯-১০-২০১১ ৩ ( ) ২৮-১০-২০১৪

৩ ( ) ২৮-১১-২০১৬

২৮-১০-২০১৭ ৩ ( )

২০১৬-১৫৮১৩৪ ৪৪ ০৭-০৮-

২০১২ ১২(৬) ২ ( ) ৬ ( )

-ও - ও ২ ( )

৬ ( ) ও ও

-ও ৩ ( )

-

ও ও

১৯৯৪

২ ২২-০৫-২০১২ -ও ৩

- -

১৯৯৪

-ও

- ও

( )

১৯৯৪

১৯৯৪ -ও

Source httpwwwsharenews24comindexphppage=detailsampnc=1ampnews_id=6587

Daily News Flash 12th November 2017

50

ফ ফ

১৫ ও

-( ) ও

৪৯

১৬ ৮৫

৫১ ৪৯

৪ ৩৬

১৯১৩

১০০ ও ১৯০১ ১৯৬০

Source httpswwwdailystockbangladeshcom - - - -

- ( -১)

( ) ৮

৩০০ ও

( ) ১৬

- ২২৮ ৪৯ ১৮৩ ২০১৮

( ) ও

১৫০

( ) ও ৪০ ৩০

ও ও

ও ও

Source httpswwwdailystockbangladeshcom - - -

Page 45: Daily News Flash, 12th November, 2017 -  · PDF filebanglalink's revenue falls 4.57pc in q3 ... banks lack remedial strategy while npl rises worryingly

Daily News Flash 12th November 2017

45

৩০০ ৬০০

( ) ও

১ ২৫ ও ১০

১০ ও

ঋ ও

৩০ ২০১৭ ৩ ও ১২ ও

( ) ২ ১৪ ২ ১

ও ৩০ ১১

( ) ও ও

( - ) ৬৬ ৫৫ ৩০

( ) ৩৪ ৯০

ও ও ও

( ) ও

ও ও ২০১৫ ৩০ ১০ ২০১৬

১২

( ) ৪১ ২০ ও ২৩ ৬০

৫০ ও

২০১৪ ৩০০ ও ১৪৮ ৪৬ ৫০

১৯১ ৬২ ৩৭ ৩১

১২ ৪৫ ৫০ ২৪

ও ( ) ১৬ ৫৩

ও ১৫ ২২

Source httpbonikbartanetbanglanews2017-11-12137966৫০০- - - - -ও -

৬৩

- ও ও

৬২ ৯৪ ৫

৬২

৯০

২০১৪ - -

- ও

২০১৬-১৭ ৫ ৬২ ও ২০১৩-১৪

১২

( ) ৯০

-

ও - - ও -

Daily News Flash 12th November 2017

46

- ও

৬২ ৯৪

২০১৩-১৪ ৭০ ৭৮ ২০১৪-১৫ ৫৪ ২২

২০১৫-১৬ ৩৯ ৩৩ ও ২৬ ২৩

ও ২০১৩-১৪

১২ ৩৬ ২০১৪-১৫ ৫ ৯১ ও ২০১৫-

১৬ ১৭ ৩০ ৫ ৬২

৩০ ২০১৭ ১০

২ ৮৬ ও ৩

ও ২৪ ( )

২৭

১৯৬৪ ১২

৪ ও ও ১৯৭২

ও ( )

ও ৩৪ ৮ ও

৯০

৪৫ ও ৫

১৯৬৪ ১৯৭২ ১৯৮৯

১০০ ও ২৬ ১৬ ২০ ৫৪৩ ৭৭

৫ - ৫১ ১৫ ৬০ ও

৩২ ৯০

Source httpbonikbartanetbanglanews2017-11-11137853 - - - - - -৬৩---

( ) ও

১০

ও ও ও

-

ও ও

ও ঋ ও

ও ২০১৪ ও

ও ও

২০১৩

( ) ও

Daily News Flash 12th November 2017

47

২০১৪

২০১৪-১৬ ও

২০১৪

ও ২০১৪

২০১৫ ২৭ lsquo ও rsquo

ও ও

২০১৬ ২৪

( )

ও ও

- ও

ও ও ১৯৮৩ ২০১৬

ঋ ( ) ৫৬০

৮৬৪

২০১৬ ২০১৯ ও

ও ১৫ ২৫ ৩০ ও ৩০

ও ঋ ও

২০১৬ ঋ ১

৩৪২ ঋ ৬ ৫২ ১২৩

ঋ ২ ৪৪৩ ঋ ১০

৮৪ ঋ ৪০

৭২৬

ও ২০১৬ ৭৪১

৪৫৭

২০৭ ২৪৪

১০ ও

ও ও ও ও ও

Daily News Flash 12th November 2017

48

Source httpbonikbartanetbanglanews2017-11-12137998 - - - - - ও- -

( )

৩০ ২০১৭ ২০

( ) ২ ১ ১ ৫৯ (

) ৩০ ( ) ১৫ ৩৭

ও ২৮ ১১

( ) ২৮

২০১৬ ৩০ ১৮ ২০

২০১৪ ও ২০

১৫ ৩০

১৮ ৮০ ও ৯ ৬০

Source httpbonikbartanetbanglanews2017-11-11137850 - - - -

ফ ৭ ২০১৭-১৮ ৭ ৩ ৭৪

( ) ও

( - ) ১ ১৫০ ৫৮

(২০১৬-১৭) ১ ৭৫ ৩ ৬০ ৭

৩ ১ ১৫৯ ২০ ৭৪

ও mdash

৬ ৬৫ ১৭ ৬৩

mdash ও ও

১৫ ৪১ ২২ ৬৯ ১০

১৯ ৬৬ ১০ ২০ ২২

mdash ও ও ও

৩৯ ৫১ ও ২ ও

১৬ ৪৬ ও ও ৬ ৯৯ ও

৩ ৮৫ ৯ ৯৫

১৯ ৮২

৮০

ও ( )

mdash

Daily News Flash 12th November 2017

49

ও ও

Source httpbonikbartanetbanglanews2017-11-10137755 - - - -৭- - --

ফ - ফ ও -ও

-ও

-ও

২৯-১০-২০১১ ৩ ( ) ২৮-১০-২০১৪

৩ ( ) ২৮-১১-২০১৬

২৮-১০-২০১৭ ৩ ( )

২০১৬-১৫৮১৩৪ ৪৪ ০৭-০৮-

২০১২ ১২(৬) ২ ( ) ৬ ( )

-ও - ও ২ ( )

৬ ( ) ও ও

-ও ৩ ( )

-

ও ও

১৯৯৪

২ ২২-০৫-২০১২ -ও ৩

- -

১৯৯৪

-ও

- ও

( )

১৯৯৪

১৯৯৪ -ও

Source httpwwwsharenews24comindexphppage=detailsampnc=1ampnews_id=6587

Daily News Flash 12th November 2017

50

ফ ফ

১৫ ও

-( ) ও

৪৯

১৬ ৮৫

৫১ ৪৯

৪ ৩৬

১৯১৩

১০০ ও ১৯০১ ১৯৬০

Source httpswwwdailystockbangladeshcom - - - -

- ( -১)

( ) ৮

৩০০ ও

( ) ১৬

- ২২৮ ৪৯ ১৮৩ ২০১৮

( ) ও

১৫০

( ) ও ৪০ ৩০

ও ও

ও ও

Source httpswwwdailystockbangladeshcom - - -

Page 46: Daily News Flash, 12th November, 2017 -  · PDF filebanglalink's revenue falls 4.57pc in q3 ... banks lack remedial strategy while npl rises worryingly

Daily News Flash 12th November 2017

46

- ও

৬২ ৯৪

২০১৩-১৪ ৭০ ৭৮ ২০১৪-১৫ ৫৪ ২২

২০১৫-১৬ ৩৯ ৩৩ ও ২৬ ২৩

ও ২০১৩-১৪

১২ ৩৬ ২০১৪-১৫ ৫ ৯১ ও ২০১৫-

১৬ ১৭ ৩০ ৫ ৬২

৩০ ২০১৭ ১০

২ ৮৬ ও ৩

ও ২৪ ( )

২৭

১৯৬৪ ১২

৪ ও ও ১৯৭২

ও ( )

ও ৩৪ ৮ ও

৯০

৪৫ ও ৫

১৯৬৪ ১৯৭২ ১৯৮৯

১০০ ও ২৬ ১৬ ২০ ৫৪৩ ৭৭

৫ - ৫১ ১৫ ৬০ ও

৩২ ৯০

Source httpbonikbartanetbanglanews2017-11-11137853 - - - - - -৬৩---

( ) ও

১০

ও ও ও

-

ও ও

ও ঋ ও

ও ২০১৪ ও

ও ও

২০১৩

( ) ও

Daily News Flash 12th November 2017

47

২০১৪

২০১৪-১৬ ও

২০১৪

ও ২০১৪

২০১৫ ২৭ lsquo ও rsquo

ও ও

২০১৬ ২৪

( )

ও ও

- ও

ও ও ১৯৮৩ ২০১৬

ঋ ( ) ৫৬০

৮৬৪

২০১৬ ২০১৯ ও

ও ১৫ ২৫ ৩০ ও ৩০

ও ঋ ও

২০১৬ ঋ ১

৩৪২ ঋ ৬ ৫২ ১২৩

ঋ ২ ৪৪৩ ঋ ১০

৮৪ ঋ ৪০

৭২৬

ও ২০১৬ ৭৪১

৪৫৭

২০৭ ২৪৪

১০ ও

ও ও ও ও ও

Daily News Flash 12th November 2017

48

Source httpbonikbartanetbanglanews2017-11-12137998 - - - - - ও- -

( )

৩০ ২০১৭ ২০

( ) ২ ১ ১ ৫৯ (

) ৩০ ( ) ১৫ ৩৭

ও ২৮ ১১

( ) ২৮

২০১৬ ৩০ ১৮ ২০

২০১৪ ও ২০

১৫ ৩০

১৮ ৮০ ও ৯ ৬০

Source httpbonikbartanetbanglanews2017-11-11137850 - - - -

ফ ৭ ২০১৭-১৮ ৭ ৩ ৭৪

( ) ও

( - ) ১ ১৫০ ৫৮

(২০১৬-১৭) ১ ৭৫ ৩ ৬০ ৭

৩ ১ ১৫৯ ২০ ৭৪

ও mdash

৬ ৬৫ ১৭ ৬৩

mdash ও ও

১৫ ৪১ ২২ ৬৯ ১০

১৯ ৬৬ ১০ ২০ ২২

mdash ও ও ও

৩৯ ৫১ ও ২ ও

১৬ ৪৬ ও ও ৬ ৯৯ ও

৩ ৮৫ ৯ ৯৫

১৯ ৮২

৮০

ও ( )

mdash

Daily News Flash 12th November 2017

49

ও ও

Source httpbonikbartanetbanglanews2017-11-10137755 - - - -৭- - --

ফ - ফ ও -ও

-ও

-ও

২৯-১০-২০১১ ৩ ( ) ২৮-১০-২০১৪

৩ ( ) ২৮-১১-২০১৬

২৮-১০-২০১৭ ৩ ( )

২০১৬-১৫৮১৩৪ ৪৪ ০৭-০৮-

২০১২ ১২(৬) ২ ( ) ৬ ( )

-ও - ও ২ ( )

৬ ( ) ও ও

-ও ৩ ( )

-

ও ও

১৯৯৪

২ ২২-০৫-২০১২ -ও ৩

- -

১৯৯৪

-ও

- ও

( )

১৯৯৪

১৯৯৪ -ও

Source httpwwwsharenews24comindexphppage=detailsampnc=1ampnews_id=6587

Daily News Flash 12th November 2017

50

ফ ফ

১৫ ও

-( ) ও

৪৯

১৬ ৮৫

৫১ ৪৯

৪ ৩৬

১৯১৩

১০০ ও ১৯০১ ১৯৬০

Source httpswwwdailystockbangladeshcom - - - -

- ( -১)

( ) ৮

৩০০ ও

( ) ১৬

- ২২৮ ৪৯ ১৮৩ ২০১৮

( ) ও

১৫০

( ) ও ৪০ ৩০

ও ও

ও ও

Source httpswwwdailystockbangladeshcom - - -

Page 47: Daily News Flash, 12th November, 2017 -  · PDF filebanglalink's revenue falls 4.57pc in q3 ... banks lack remedial strategy while npl rises worryingly

Daily News Flash 12th November 2017

47

২০১৪

২০১৪-১৬ ও

২০১৪

ও ২০১৪

২০১৫ ২৭ lsquo ও rsquo

ও ও

২০১৬ ২৪

( )

ও ও

- ও

ও ও ১৯৮৩ ২০১৬

ঋ ( ) ৫৬০

৮৬৪

২০১৬ ২০১৯ ও

ও ১৫ ২৫ ৩০ ও ৩০

ও ঋ ও

২০১৬ ঋ ১

৩৪২ ঋ ৬ ৫২ ১২৩

ঋ ২ ৪৪৩ ঋ ১০

৮৪ ঋ ৪০

৭২৬

ও ২০১৬ ৭৪১

৪৫৭

২০৭ ২৪৪

১০ ও

ও ও ও ও ও

Daily News Flash 12th November 2017

48

Source httpbonikbartanetbanglanews2017-11-12137998 - - - - - ও- -

( )

৩০ ২০১৭ ২০

( ) ২ ১ ১ ৫৯ (

) ৩০ ( ) ১৫ ৩৭

ও ২৮ ১১

( ) ২৮

২০১৬ ৩০ ১৮ ২০

২০১৪ ও ২০

১৫ ৩০

১৮ ৮০ ও ৯ ৬০

Source httpbonikbartanetbanglanews2017-11-11137850 - - - -

ফ ৭ ২০১৭-১৮ ৭ ৩ ৭৪

( ) ও

( - ) ১ ১৫০ ৫৮

(২০১৬-১৭) ১ ৭৫ ৩ ৬০ ৭

৩ ১ ১৫৯ ২০ ৭৪

ও mdash

৬ ৬৫ ১৭ ৬৩

mdash ও ও

১৫ ৪১ ২২ ৬৯ ১০

১৯ ৬৬ ১০ ২০ ২২

mdash ও ও ও

৩৯ ৫১ ও ২ ও

১৬ ৪৬ ও ও ৬ ৯৯ ও

৩ ৮৫ ৯ ৯৫

১৯ ৮২

৮০

ও ( )

mdash

Daily News Flash 12th November 2017

49

ও ও

Source httpbonikbartanetbanglanews2017-11-10137755 - - - -৭- - --

ফ - ফ ও -ও

-ও

-ও

২৯-১০-২০১১ ৩ ( ) ২৮-১০-২০১৪

৩ ( ) ২৮-১১-২০১৬

২৮-১০-২০১৭ ৩ ( )

২০১৬-১৫৮১৩৪ ৪৪ ০৭-০৮-

২০১২ ১২(৬) ২ ( ) ৬ ( )

-ও - ও ২ ( )

৬ ( ) ও ও

-ও ৩ ( )

-

ও ও

১৯৯৪

২ ২২-০৫-২০১২ -ও ৩

- -

১৯৯৪

-ও

- ও

( )

১৯৯৪

১৯৯৪ -ও

Source httpwwwsharenews24comindexphppage=detailsampnc=1ampnews_id=6587

Daily News Flash 12th November 2017

50

ফ ফ

১৫ ও

-( ) ও

৪৯

১৬ ৮৫

৫১ ৪৯

৪ ৩৬

১৯১৩

১০০ ও ১৯০১ ১৯৬০

Source httpswwwdailystockbangladeshcom - - - -

- ( -১)

( ) ৮

৩০০ ও

( ) ১৬

- ২২৮ ৪৯ ১৮৩ ২০১৮

( ) ও

১৫০

( ) ও ৪০ ৩০

ও ও

ও ও

Source httpswwwdailystockbangladeshcom - - -

Page 48: Daily News Flash, 12th November, 2017 -  · PDF filebanglalink's revenue falls 4.57pc in q3 ... banks lack remedial strategy while npl rises worryingly

Daily News Flash 12th November 2017

48

Source httpbonikbartanetbanglanews2017-11-12137998 - - - - - ও- -

( )

৩০ ২০১৭ ২০

( ) ২ ১ ১ ৫৯ (

) ৩০ ( ) ১৫ ৩৭

ও ২৮ ১১

( ) ২৮

২০১৬ ৩০ ১৮ ২০

২০১৪ ও ২০

১৫ ৩০

১৮ ৮০ ও ৯ ৬০

Source httpbonikbartanetbanglanews2017-11-11137850 - - - -

ফ ৭ ২০১৭-১৮ ৭ ৩ ৭৪

( ) ও

( - ) ১ ১৫০ ৫৮

(২০১৬-১৭) ১ ৭৫ ৩ ৬০ ৭

৩ ১ ১৫৯ ২০ ৭৪

ও mdash

৬ ৬৫ ১৭ ৬৩

mdash ও ও

১৫ ৪১ ২২ ৬৯ ১০

১৯ ৬৬ ১০ ২০ ২২

mdash ও ও ও

৩৯ ৫১ ও ২ ও

১৬ ৪৬ ও ও ৬ ৯৯ ও

৩ ৮৫ ৯ ৯৫

১৯ ৮২

৮০

ও ( )

mdash

Daily News Flash 12th November 2017

49

ও ও

Source httpbonikbartanetbanglanews2017-11-10137755 - - - -৭- - --

ফ - ফ ও -ও

-ও

-ও

২৯-১০-২০১১ ৩ ( ) ২৮-১০-২০১৪

৩ ( ) ২৮-১১-২০১৬

২৮-১০-২০১৭ ৩ ( )

২০১৬-১৫৮১৩৪ ৪৪ ০৭-০৮-

২০১২ ১২(৬) ২ ( ) ৬ ( )

-ও - ও ২ ( )

৬ ( ) ও ও

-ও ৩ ( )

-

ও ও

১৯৯৪

২ ২২-০৫-২০১২ -ও ৩

- -

১৯৯৪

-ও

- ও

( )

১৯৯৪

১৯৯৪ -ও

Source httpwwwsharenews24comindexphppage=detailsampnc=1ampnews_id=6587

Daily News Flash 12th November 2017

50

ফ ফ

১৫ ও

-( ) ও

৪৯

১৬ ৮৫

৫১ ৪৯

৪ ৩৬

১৯১৩

১০০ ও ১৯০১ ১৯৬০

Source httpswwwdailystockbangladeshcom - - - -

- ( -১)

( ) ৮

৩০০ ও

( ) ১৬

- ২২৮ ৪৯ ১৮৩ ২০১৮

( ) ও

১৫০

( ) ও ৪০ ৩০

ও ও

ও ও

Source httpswwwdailystockbangladeshcom - - -

Page 49: Daily News Flash, 12th November, 2017 -  · PDF filebanglalink's revenue falls 4.57pc in q3 ... banks lack remedial strategy while npl rises worryingly

Daily News Flash 12th November 2017

49

ও ও

Source httpbonikbartanetbanglanews2017-11-10137755 - - - -৭- - --

ফ - ফ ও -ও

-ও

-ও

২৯-১০-২০১১ ৩ ( ) ২৮-১০-২০১৪

৩ ( ) ২৮-১১-২০১৬

২৮-১০-২০১৭ ৩ ( )

২০১৬-১৫৮১৩৪ ৪৪ ০৭-০৮-

২০১২ ১২(৬) ২ ( ) ৬ ( )

-ও - ও ২ ( )

৬ ( ) ও ও

-ও ৩ ( )

-

ও ও

১৯৯৪

২ ২২-০৫-২০১২ -ও ৩

- -

১৯৯৪

-ও

- ও

( )

১৯৯৪

১৯৯৪ -ও

Source httpwwwsharenews24comindexphppage=detailsampnc=1ampnews_id=6587

Daily News Flash 12th November 2017

50

ফ ফ

১৫ ও

-( ) ও

৪৯

১৬ ৮৫

৫১ ৪৯

৪ ৩৬

১৯১৩

১০০ ও ১৯০১ ১৯৬০

Source httpswwwdailystockbangladeshcom - - - -

- ( -১)

( ) ৮

৩০০ ও

( ) ১৬

- ২২৮ ৪৯ ১৮৩ ২০১৮

( ) ও

১৫০

( ) ও ৪০ ৩০

ও ও

ও ও

Source httpswwwdailystockbangladeshcom - - -

Page 50: Daily News Flash, 12th November, 2017 -  · PDF filebanglalink's revenue falls 4.57pc in q3 ... banks lack remedial strategy while npl rises worryingly

Daily News Flash 12th November 2017

50

ফ ফ

১৫ ও

-( ) ও

৪৯

১৬ ৮৫

৫১ ৪৯

৪ ৩৬

১৯১৩

১০০ ও ১৯০১ ১৯৬০

Source httpswwwdailystockbangladeshcom - - - -

- ( -১)

( ) ৮

৩০০ ও

( ) ১৬

- ২২৮ ৪৯ ১৮৩ ২০১৮

( ) ও

১৫০

( ) ও ৪০ ৩০

ও ও

ও ও

Source httpswwwdailystockbangladeshcom - - -