Daily Banking News Links 14.01.2019

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Daily Banking News Links 14.01.2019

Dhaka stocks hit 9-month high as banks shine

Dhaka stocks soared again on Sunday with DSEX hitting a nine-month high as investors continued buying scrips, especially banks with expectation of gains. DSEX, the key index of Dhaka Stock Exchange, advanced by 1.08 per cent, or 62.91 points, to close at 5,860.21 points on Sunday after losing 1.28 points in the previous session……..

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Govt’s NSC sale reaches 83pc of annual target in five months

The government in just five months (July-November) collected Tk 21,661.93 crore from the sales of national savings certificates, which is 82.69 per cent of its target of collection for the entire fiscal year (2018-2019).
In the budget for FY19, the government set the target at Tk 26,197 crore. In July-November of FY19, NSC sales increased by 2.31 percent or Tk 489.86 crore ………..

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SMALL-CAP BOARD LAUNCH
DSE seeks Tk 1.37cr from UK’s business fund for poor

Dhaka Stock Exchange, the country’s premier bourse, has sought grants from Business Finance for the Poor in Bangladesh, a programme funded by British government, to launch a small capital board at the bourse……..

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Preparing for Fourth Industrial Revolution

The Fourth Industrial Revolution (4IR) is already on and it is all set to gain extraordinary momentum soon. Is Bangladesh prepared for the technological transformation? A seminar titled, ‘Fourth Industrial Revolution: Are We Ready’ hosted by a leading local IT company posed this serious question. Participating in the discourse, experts were unanimous in making the suggestion that the country had better devised a strategy for the 4IR…..

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Innovation economy: Conversion of knowledge into economic outputs

Upon reaching middle-income status by adding labour and raw materials to imported technology, many developing countries have been aspiring to attain high-income status. And they have rightfully identified that upgrading factor driven economy to innovation economy is the means to meet this goal. But how to build innovation economy is a question…………

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Budget shows surplus in four months despite lower revenue

The current budget recorded a Tk 24.07 billion surplus during the four months to October last, though tax receipts are less-than-expected, the ministry of finance said on Thursday.Revenue income of the National Board of Revenue (NBR) amounted to Tk 200 billion up to November last, falling short of the target by around 22 per cent, according to the tax authorities……….

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Govt revises RMG workers’ wages
BGMEA warns of closing factories unless agitators return to work

The government has revised both basic and gross pays in six out of seven grades for the garment workers aimed at removing disparities in the new wage structure.The revised wage structure was announced on Sunday at a meeting presided over by state minister for labour Monnujan Sufian at her secretariat office in Dhaka………

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Sonali’s SoS for capital support
Seeks Tk 60b urgently from government

The state-owned Sonali Bank Ltd (SBL) has sought guarantee worth Tk 60 billion from the government to tide over its capital shortfall urgently, officials said.The SBL also requested the government to pay off the commission against the hefty Tk 942-billion letter of credit (LC) it had opened for importing equipment and services for Rooppur Nuclear Power Plant (RNPP)…………

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News Clipping, January 13, 2019

 

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