Business
DSE launches online platform for smart management of stocks
The Dhaka Stock Exchange on Monday launched the platform "Smart Submission System of DSE" with an aim of keeping an effective role in the country's capital market through innovation and research.
In line with the 'Smart Bangladesh' philosophy, the DSE has created an online platform for the integrated online data collection, price-sensitive information, and direct payment of financial accounts to increase transparency and efficiency of various compliances of securities laws of listed companies.This platform is a big step for the country's technology-based capital market. Transparency and accountability of the country's capital market will increase through online submission of information.Through this system various companies will be able to automatically disclose price-sensitive information in accordance with securities rules and various compliances will be maintained.Chairman of DSE Professor Dr. Hafiz Muhammad Hasan Babu was present as the chief guest at the event.Bangladesh Association of Publicly Listed Companies (BAPLC) President Rupali Haque Chowdhury and DSE Brokers Association (DBA) President Saiful Islam were present as special guests.Among others, the managing director of DSE ATM Tarikuzzaman CPA and Chief Regulatory Officer Khairul Bashar Abu Taher Mohammad, according to a press release.
UCB taking steps to offer easy loans to agricultural entrepreneurs
United Commercial Bank PLC has been implementing an agro-CSR project called ‘Bhoroshar Notun Janala’ as part of its corporate social responsibility (CSR).
In its continuation, a training program for agricultural entrepreneurs hailing from Jhenaidah district was organized on Monday at Green Valley Park Auditorium, Jhenaidah.
Around 185 agricultural entrepreneurs from 6 upazilas of Jhenaidah district took part in this training.
Addressing the function, UCB's Additional Managing Director and Company Secretary, ATM Tahmiduzzaman, said, “The contribution of the agriculture sector to the GDP is about 14.23 percent. 40 percent of the total labor force is still dependent on agriculture”.
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Agriculture is also the main source of food, nutrition and industrial raw materials. Agriculture is inextricably linked with poverty alleviation, employment and export, he added.
He said that different businesses, social and economic activities of the country are centered around agriculture.
“We want to play a role in the development of commercial agriculture. For this, we want to stand by the agricultural entrepreneurs. We are trying to help the farmers so that they can produce and sell their crops (as desired by them) by taking loans on easy terms. That’s why we named our project ‘Bhoroshar Notun Janala”, he said.
Through this, he said, the bank actually wants to instill confidence in the minds of marginalized farmers. We are working towards that goal.”
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Rezaul Karim Siddique, popular presenter of BTV’s (Bangladesh Television) agriculture-based show ‘Mati O Manush’ & an agricultural-sector analyst; UCB’s Deputy Managing Director Mohammad Shah Alam Bhuiyan; Deputy Managing Director and Chief Financial Officer Md. Faruk Ahammad, Branch Manager (Jhenaidah district) and Md. Moniruzzaman also delivered speeches at the training program.
On the previous day (11 February), skill development training was held for about 135 agricultural entrepreneurs from 4 upazilas of the district at Magura Royal Community Center.
UCB Khulna region head Molla Masud Parvez; Arpara branch manager AKM Wahidul Islam and Magura branch manager Md. Arifuzzaman also spoke in the training session.
The process of disbursing agricultural loans and providing incentive-based agricultural assistance on easy terms was discussed in the training session.
It is mentionable that training is being organized for about 16,000 agricultural entrepreneurs selected from 64 districts of the country under the initiative ‘Bhoroshar Notun Janala’. Already around 10,000 agricultural entrepreneurs have been trained in 41 districts.
Tk 14,305 crore deposited by agent bank outlets: Islami Bank CEO
In the training, speakers shed light on the process of disbursing agricultural loans with easy terms and providing incentive-based agricultural assistance.
Apart from this, the way forward for expanding the scope of financing (humane) under easy terms and conditions for the development of an advanced and prosperous agriculture sector were being discussed.
OPPO launches exclusive showroom at Bashundhara City Mall
Smarthphone manufacturer OPPO has announced the opening of its newest exclusive showroom located in Dhaka’s Bashundhara City Mall.
This expansion marks another significant milestone in OPPO's commitment to providing unparalleled accessibility and superior customer experiences across the region, according to a press release.
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The new OPPO exclusive showroom promises to offer international level customer experience with a wide range of innovative smartphones, cutting-edge accessories, and exceptional services tailored to meet the evolving needs of consumers in Bangladesh, it said.
With a focus on creating an immersive retail environment, the store is designed to showcase OPPO's latest technological advancements and provide visitors with hands-on experiences of its flagship products, said the release.
OPPO announces ‘year-end surprise’ for OPPO A77 enthusiasts
The inauguration ceremony of the OPPO exclusive showroom in Bashundhara City Mall was attended by esteemed guests, industry partners, reviewers and influencers from the tech industry, including Sam Zone, Sohag, Neon, and Wahid. Their presence underscores the significance of OPPO's continued commitment to innovation and customer satisfaction.
"We are thrilled to inaugurate our newest brand shop in the heart of Dhaka's bustling commercial district," said Damon Yang, Managing Director of OPPO Bangladesh Authorized Exclusive Distributor. "At OPPO, we are committed to bringing cutting-edge technology closer to our customers, and the opening of this brand shop reaffirms our dedication to providing an unparalleled retail experience. We look forward to welcoming customers and enthusiasts alike to explore our latest innovations and discover the perfect OPPO device that suits their lifestyle."
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With a focus on customer satisfaction and engagement, OPPO remains dedicated to fostering meaningful connections with consumers through its expanding network of brand shops and service centers. The new brand shop in Bashundhara City Mall exemplifies OPPO's unwavering commitment to delivering exceptional products and services that enrich the lives of users across Bangladesh, the release said.
realme returns with C67 packed with powerful 108MP camera
Smartphone manufacturer realme is set to redefine the quality of its popular C-series with the launch of realme C67.
This new addition to the C-series msartphone features a 108MP camera, Snapdragon 685 6nm chipset, and biggest upgrades ever with a price tag of Tk 22,999, according to a press release.
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realme, having shipped over 100 million C-series phones globally, is launching this new model with segment-first features in camera, In-zoom sensor, and processor, setting industry benchmarks in quality user experience, it said.
realme C67 introduces the segment's first, 108MP camera, delivering unparalleled clarity—a significant advancement over competitors' 50MP offerings. The camera boasts the highest pixels in its segment where each pixel works in image processing, resulting in crystal-clear photos.
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Adding to its photography prowess, the 3X In-sensor Zoom in the realme C67 is the first in C-series to feature this advanced camera technology. The sensor brings a big boost in resolution for more versatile shooting, said the release.
With realme C67, the C-series is set to witness the debut of Snapdragon processor for the series. The phone is powered by Snapdragon 685 6nm chipset, bringing next-level power, efficiency, and reliability. With a benchmark score exceeding 330k+, this chipset delivers exceptionally reliable performance.
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Users can expect a 15% boost in CPU performance, a 10% increase in GPU performance, and an impressive 2.8GHz main frequency, ensuring seamless multitasking and gaming experiences, it said.
Complementing its stunning visuals, the C67 boasts the segment's brightest 950nit display, guaranteeing optimal visibility even in direct sunlight. Showcasing promise of quality user experience, the Dynamic Notch ‘Mini Capsule 2.0’ adds interactive software functions for young user’s convenience.
Moreover, the C67 is the first phone in its segment to remove the screen plastic bracket, which is a design feature typically reserved for high-end flagship devices because of its structural complexity, added the release.
Besides, plenty of power comes with the combination of 8GB RAM and 128GB ROM. The 8GB RAM champions smooth functionality while 128GB RAM brings worry-free storage facility.
Available in two captivating colours, Sunny Oasis and Black Rock, the device features a svelte 7.59mm thin body, setting a new benchmark in its segment.
Users will get an exciting opportunity to pre-book the realme C67 through this link (https://cutt.ly/PreBookC67) or from authorized realme stores till 14th February 2024.
Moreover, realme C67 gives an opportunity to surprise loved ones through a special flash sale on Daraz 14th February, starting from 10:00 AM, the release also said.
The flash sale is set to make realme C67 the best Valentine’s Day gift with the chance to use a Daraz voucher for a discounted price of C67 at BDT 21,699, 0% EMI facility, express delivery, and original brand warranty.
Finance Minister affirms Bangladesh's economic resilience amid challenges
Finance Minister Abul Hassan Mahmood Ali, in discussions on Monday, affirmed Bangladesh's improving economic performance and resilience in navigating through financial challenges. With a focus on sustainable growth, the nation is witnessing an upward economic trend, bolstered by significant opportunities, according to the minister.
The remarks came during a press briefing following a series of high-level meetings with international delegates, including the Asian Development Bank (ADB) representative, the French Government's Special Envoy for Climate Affairs Stephan Crouzat, and the International Fund for Agricultural Development (IFAD) Country Director Arnaud Hemlier, at the Secretariat.
BCI demands immediate injection of dollars to facilitate import of industrial raw materials
Highlighting the ongoing projects under IFAD's guidance, Minister Ali pointed out the infusion of fresh ideas and collaborative discussions aimed at fostering agricultural development in Bangladesh.
Bangladesh maintains an open stance, collaborating and exchanging ideas with various international partners without relying on any single country, thereby enhancing economic prospects through diverse financial support, he stated.
When questioned about the specifics of discussions with the ADB and French delegation, Ali emphasized Bangladesh's current positive trajectory while acknowledging the ongoing challenges. Regarding new commitments from the ADB, he confirmed continued support for Bangladesh, dispelling rumors of financial instability.
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Contrary to claims of bankruptcy, Bangladesh is far from it, the finance minister said. “Our improving reserves are a testament to our economic stability,” Ali said.
BCI demands immediate injection of dollars to facilitate import of industrial raw materials
Bangladesh Chamber of Industries (BCI) has demanded the increase in immediate supply of adequate dollars to facilitate import of industrial raw materials.
The board of directors of the sole chamber in the industrial sector made the demand when a delegation of the BCI, led by its president Mr. Anwar-ul Alam Chowdhury (Parvez), met Bangladesh Bank governor Abdur Rauf Talukder at the central bank on Sunday.
The BCI leaders said that at present, the sales of all organisations have dropped due to high inflation in the country, high interest rates on loans, increase in electricity and gas prices, and no organization is able to run at its full capacity. With high interest rates on loans, banks are turning to investing in bonds.
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They said the challenge now is the survival of the industrial institutions in the current situation.
In the case of industrial raw material import, the industries are unable to open the letter of credit (LC) with banks due to dollar crisis.
They have to open LC at a much higher rate than the rate determined by the Bangladesh Bank.
The BCI leaders also noted that cash incentives provided by the government to encourage export oriented industries are not being paid on time.
As a result, it is becoming difficult for industries to pay their taxes on time.
Read: Bangladesh Bank sets an 11-point roadmap to realise default loansIf the cash incentives are not released on time, the industries are not able to pay the salaries of their employees on time.
The BCI leaders demanded the cash incentives be released in an expedited manner.
They said that in case of previous exports it takes 4-5 weeks to get acceptance and LC maturing thereby increasing their liability.
In the current situation, they said the SME sector is facing the most losses.
The BCI demanded the government make arrangements to sustain the SME sector.
Senior vice-president of BCI, Preeti Chakraborty, vice-president Mohammad Yunus, directors Ranjan Chowdhury, Dr. Delwar Hossain Raja, Abul Kalam Bhiya, Zia Haider Mithu, Mizanur Rahman, Ruslan Nasir, Sohana Rauf Chowdhury, Md Salim Jahan, Md Mahfuzur Rahman were meeting while Deputy Governors of Bangladesh Bank Abu Farah Md Nasser and Norun Nahar and director of Foreign Exchange Policy Department Md. Sarwar Hossain attended it.
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ICMAB delegation takes part in pre-budget discussion with NBR
A delegation of the Institute of Cost and Management Accountants of Bangladesh (ICMAB) headed by its President Professor Dr. Md Salim Uddin FCMA took part in a pre-budget discussion for the fiscal year 2024-25.
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The programme was held at the conference hall of National Board of Revenue (NBR), Agargaon, Sher-e-Bangla Nagar, Dhaka on Sunday.
The NBR Chairman and Senior Secretary Abu Hena Md. Rahmatul Muneem listened to the budget proposal of INMAB and exchanged views with the ICMAB delegation.
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Prof Salim presented an overview of suggestions that have an intense probability of increasing revenue income by imposing taxes on untouched fields on the revenue collection side. Whereas, Past President and Council Member of ICMAB Md. Abdur Rahman Khan FCMA presented it in detail.
Among others, Treasurer Abdul Matin Patwary FCMA, Council Member Dr. Syed Abdulla Al Mamun FCMA, and Fellow Member HM Mainuddin Ahammed FCMA were present in the meeting from ICMAB.
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Academicians and researchers from different institutions like ICAB, ICSB, and Bangladesh VAT Forum were present there, said a press release.
Rally in banking stocks drives DSE index to 16-month high
A rally in shares of banks saw the benchmark index of DSEX (Broad-based index of Dhaka Stock Exchange) hit a 16-month high, surpassing the 6,400 points mark on Sunday.
The total turnover on Sunday increased to more than Tk1852 crore.
This surge was primarily fuelled by the strong performance of bank stocks, despite prevailing selling pressure in other sectors. Out of 35 listed banks, prices of 34 banks’ stock advanced.
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At the end of the day, the DSEX registered a gain of 73 points, settling at 6,447, while the blue-chip index DS30 saw a surge of 21 points, closing at 2,159.
Earlier, on 16 October 2022, the DSEX was over 6,400 points.
At the Dhaka bourse, 196 scrips declined, 165 advanced, and 33 remained unchanged.
Market insiders said during the session investors displayed heightened activity in purchasing bank shares, which had long been restricted by the floor price.
Potential investors, who invested in the capital market for the long term by investing in fundamental stocks are back in the market.
The shares of Fortune Shows contributed the most to the turnover. The shares of the company have been traded for Tk 65.05 crore. Shares of Orion Pharma in the second place were traded at Tk 64.49 crore. Orion Infusion is in third place with a share transaction of Tk 63.48 crore.
Besides, the list of top 10 companies in terms of transactions on DSE includes IFIC Bank, Intraco Refueling Station, ITC, Global Islami Bank, Bangladesh Shipping Corporation, Malek Spinning and Central Pharmaceuticals.
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Meanwhile the Chittagong Stock Exchange (CSE) overall value CASPI increased by 309 points. Out of 294 firms participating in the market, 128 rose in price. On the contrary, the prices of 146 have decreased and the prices of 20 have remained unchanged. The transaction was Tk23.80 crore on Sunday.
Tk 14,305 crore deposited by agent bank outlets: Islami Bank CEO
Islami Bank Bangladesh PLC organised Agent Banking Business Conference-2024 and a workshop on the prevention of money laundering and terrorist financing at a hotel in Chattogram on Saturday.
Mohammed Monirul Moula, Managing Director and CEO of the bank, addressed the conference as the chief guest.
JQM Habibullah, FCS, Additional Managing Director and Miftah Uddin, Deputy Managing Director were present as the special guests. Md. Maksudur Rahman, Senior Executive Vice President and Head of the Development Wing presided over the conference.
Monirul Moula said in the conference that Islami Bank currently operates 2,771 agent outlets nationwide having deposited an amount of Tk 14,305 crore.
In 2023, Agent Outlets earned a new deposited amount of Tk 3,255 crore. Agent Banking extends to fostering economic development, generating employment, alleviating poverty, and promoting overall economic growth by ensuring financial inclusion in remote areas.
He further said these Agent Outlets play a vital role in enhancing services for expatriates, particularly in channeling foreign remittances to the banking system.
As a testament to their impact, Islami Bank's Agent Outlets have significantly contributed, boosting 52 percent of all agents in the country involved in remittance collection last year, according to a press release.
Opportunities galore beckon for young entrepreneurs at Shark Tank Bangladesh
A new window has been opened for young entrepreneurs as the global phenomenon show “Shark Tank” is finally coming to Bangladesh as Shark Tank Bangladesh.
Organisers informed this in a programme to announce the name of the Sharks ( Business leaders) at a city hotel on Saturday.
Shooting for the much-anticipated show is scheduled to kick off on February 12th, after having screened more than 2,000 companies to select the best businesses. Producers from Sony, Arch Dyson, and Kevin Hyland, who have helped supervise and produce versions of the show around the world, will be present in Dhaka to unveil the Sharks and oversee the first few days of the shoot.
Bangladesh's top OTT platform, Bongo, signed a deal with Sony Pictures Entertainment to bring the world’s number-one business show to Bangladesh.
“Shark Tank” allows entrepreneurs to pitch their business idea to a panel of investors, known as “Sharks”, who can offer the entrepreneurs cash for a deal if they like the opportunity. Whether it is a prototype of a new product, an existing product or service, or a company looking for a financial injection to grow, the entrepreneurs have to convince the five "Sharks" to invest in their idea and help turn their life's work into a household name.
Since launching in 2001 as “Money Tigers” on Nippon TV in Japan, the format has become a phenomenal worldwide success. It is produced in territories on every continent under a variety of names including “Dragon’s Den”, “Lion’s Den,” and of course “Shark Tank.”
Organisers said the format has seen Dragons, Lions, and Sharks, all hugely successful entrepreneurs themselves, invest nearly $1 billion through all versions of the franchise across the globe, enabling dozens of companies to grow significantly.
Entrepreneurs who have been onboarded into the “Shark” ecosystem have seen massive growth and generated billions of dollars in sales after receiving deals and being featured on the show, they also said.
After a long wait, the panel of Bangladeshi Sharks is ready to be unveiled. The investors, aka Sharks, are all business leaders in their own right and are excited to hear the pitches from the innovative Bengali entrepreneurs.
The announced sharks are- Sami Ahmed, Managing Director and CEO of Startup Bangladesh Limited (SBL), the Managing Director of Adcomm Holding Group which has investments in Advertising, IT, Hospitality, and Media, Golam Murshed, the Managing Director of Majesto Limited,
Kazi M. Hassan, CEO of Robi's digital ventures arm R Ventures PLC, Samanzar Khan is the Managing Director of A K S Khan Holdings Ltd, Fahim Mashroor, Managing Director of Bdjobs.com, the most popular online job searching platform in the country, Ahmed R. Ali, Founder and Chairman of TISTA Science and Technology Corporation.
Deepto TV will broadcast the inaugural season of the show while it will be streamed on Bongo.