Stock closes week flat on lower demand

Stock market

Stock market closed Thursday flat on lower demand when investors were largely selling mood for profit-booking from offloading the shares they booked earlier at cheaper prices.

The daily average transaction, however, increased compared to last week, but was not enough to make the market vibrant.

The week at the Dhaka Stock Exchange (DSE) began upward, but ended flat in red, with the DSEX closing at 4553.7843, the DS30 at 1779.28 and the DSES at 1114.25.

Compared to last week's close, DSEX and DS30 ended flat in green while the DSES was marginally down. Read More Bbarta24.net

BTRC to adjust unpaid amount of 13 IIG operators from PDG

BTRC

Bangladesh Telecommunication Regulatory Commission has decided to adjust the unpaid amount from the performance bank guarantee (PBG) of 13 international internet gateway (IIG) operators, as they have failed to pay various dues to the government.

According to the officials of the telecom regulator, the IIG operators are owed around Taka 50 lakh to the government as the operators have failed to share of their revenue in the last quarter while some of the operators are yet to deposit their due of license renewal fees.

Talking to BSS, BTRC Spokesperson and Secretary Sarwar Alam said they would issue letter to the defaulter operators in next week as per the decision of commission meeting. Read More Bbarta24.net

Bangladesh to negotiate with India, Bhutan over bandwidth export

Bhutan over bandwidth export

With the aim of capturing the market of eight eastern states of India and Bhutan, Bangladesh is going to negotiate with them to export the unused bandwidth.

To this end, a team of Bangladesh led by state minister for posts and
telecommunications Tarana Halim would fly to India and Bhutan by the end of this week to discuss with the authorities of the countries.

Indian state of Tripura has been importing 10 gbps bandwidth from
Bangladesh since March this year, but the volume is small against their demand. Read More Bbarta24.net

Shimanto Bank opens next month

Shimanto Bank opens next month

Border Guard Bangladesh's (BGB) Shimanto Bank will start its operation from next month for the welfare of its members, reports BSS.

Prime Minister Sheikh Hasina is likely to inaugurate the Shimanto Bank in the first week of August at a programme at BGB headquarters in the city, said a press release on Saturday.

With the beginning of new journey of this public sector bank, a brainchild of Prime Minister Sheikh Hasina, the long-cherished dream of Border Guards of Bangladesh would be fulfilled. Read More Bbarta24.net

BB to unveil monetary policy Tuesday

Bangladesh Bank

Bangladesh Bank (BB) Governor Fazle Kabir will unveil the monetary policy statement (MPS) for the first half of the current 2016-17 financial year (FY17) on Tuesday at 11 am at the central bank headquarters in the city, reportes BSS.

The governor of BB will also brief journalists the outcome of the current MPS in managing inflation, driving inflow of private sector credit and propelling economic growth.

BB Chief Economist Biru Paksha Paul told BSS that like previous ones the new MPS had been prepared in line with the national budget, and it would have major focus on areas including credit, GDP (gross domestic product), inflation and exchange rate. Read More Bbarta24.net

Gold prices slip

Gold prices slip

Gold extended losses on Monday from the previous session as Asian stocks were at near nine-month highs on increasing risk appetite and ahead of central bank meetings in the United States and Japan this week.

Asian shares rose on Monday as worries over the impact of Britain's Brexit vote eased amid efforts to maintain growth, while the dollar was buoyed by a run of solid US economic data.

Spot gold fell 0.4 per cent at $1,317.04 an ounce at 0352 GMT.

Bullion fell 0.7 per cent on Friday, declining for a second successive week. Read More The Financial Express

Currency market remains largely stable after 30-day of Brexit

Currency market

Local currency market remained largely stable after 30 days of the Brexit that had sent a wave of volatility to the global currency market last month.

The pound sterling lost 8.0 percent against US dollars on the first day of trade following Brexit, held on June 23 to pave the way out to the United Kingdom from the 28 nations European Union (EU).

The pound also drifted further on the global market in the past 30 days in post-Brexit trade and hit a 30-year low at $1.29 on July 6 as "investors have selling sterling assets in expectation that the Bank of England will loosen monetary policy to cope with the looming economic slowdown", according an analysis of the British magazine the Economist.

The pound in the local market also witnessed some pressure from the sellers, but the decline in the exchange rate against Taka was not as big as it was on the global market. According to BB, the sterling was traded for Taka 103.55 on Thursday which was 107.24 on June 23. Read More Bbarta24.net