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DSE turnover tops Tk 9 bn mark

DSE turnover tops Tk 9 bn mark

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DSE turnover tops Tk 9 bn mark

DSE turnover tops Tk 9 bn mark

DSE turnover tops Tk 9 bn mark


Dhaka, June 30 —Turnover on the Dhaka Stock Exchange on Tuesday crossed the Tk 9 billion mark for the first time ever, as investors shrugged off a hoax bomb threat that shut trading an hour earlier than the scheduled a day before. Daily turnover touched a new high at Tk 9.42 billion on the day the parliament passed the budget for FY 2009-10, smashing the previous high of Tk 8.34 billion on June 21. This is the fourth time this month that the daily transactions have leapt to a new height. On June 4 and 11, turnover on the bourse touched Tk 6.72 billion. It soared to Tk 7.81 billion on June 7. "This is what should happen…it is a positive sign that investment rose up despite the bomb threat yesterday [Monday]," Yaweer Sayeed, CEO of an asset management firm, told bdnews24.com. Usually, the last day of the financial year witnesses increased transactions, he added. "Institutional investors contributed heavily to Tuesday's turnover as they had to trade a lot on the last day [of the fiscal year] due to portfolio balancing," added Sayeed, who heads AIMS of Bangladesh. Salahudddin Ahmed Khan, former CEO of DSE, agreed with the investment manager. "The closing day's transaction is mostly due to institutional investors' trading." The amendments to budget, including some duty cuts, also induced the hike, added Khan, a professor of finance at the University of Dhaka. "But it's really good to see that investors knocked off the terrorist threat." The Chittagong Stock Exchange also saw a higher turnover, topping the 1 billion mark. Transactions reached to Tk 1.19 billion from trading of almost seven and a half million shares. The highest ever turnover on the port city bourse was Tk 1.63 billion on June 24. The total turnover of the country's twin bourses on Tuesday reached Tk 10.61 billion, also a new record. The previous high was at Tk 9.30 billion on June 21. Authorities had halted transactions at 1:15pm and then evacuated the building on Monday after the bomb threat was made over phone by an anonymous caller that the stock building will be blown off soon. The caller said that a bomb had been kept inside the building. The, an official said . DSE senior vice-president Saiful Islam told bdnews24.com on Monday that the hoax bomb threat was was to panic the investors. He said that 'a certain quarter' was trying to upset the market, which has been seeing rises over the past few days . "Dhaka Stock Exchange is one of the biggest organisations of the country...we think the move to create panic was aimed to unstable the [entire country]," Islam said.

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Monday, March 23, 2009

'Budget will be responsive to global crisis'

Dhaka, March 23 ()—The next budget is being formulated keeping the global recession and the new government's election commitments in mind, said the NBR chief on Monday. "The new government was elected to power after making some major pledges to fulfil the demands of the nation. The new budget will be formulated keeping those commitments as well as the global crisis in view," said Mohammad Abdul Mazid. The National Board of Revenue chairman was addressing a pre-budget discussion with heads of national dailies and electronic media at the NBR conference room. He said foreign aid flow was slowing down, which will necessitate tapping more internal resources in the new budget. "The next budget will expand the taxpayers' net as many people who should be paying have so far dodged tax," said the NBR boss. Explaining the shortfalls in reaching VAT and import duty targets, he said, "Global prices of most commodities, such as fuel and food grain, were on the high side when the government announced the 2008-09 budget, and began falling soon after." "Oil that was at $140 fuel now costs around $40, which is why revenue from VAT and import duty have also seen sharp cuts." Mentioning that there has been a proposal placed for introducing a separate pay scale for tax officials, he said, "I've told the pay commission that taxmen must have a separate pay scale with increased pay and allowances, as their services shouldn't be compared with those of the social welfare or any other ministry." The NBR chairman assured all present that tax officials would contribute more positively once their pay and allowances were enhanced. Daily Star editor Mahfuz Anam, Manabjamin editor Motiur Rahman Chowdhury, Financial Express editor Moazzem Hossain, Bhorer Kagoj editor Shymal Dutta, Channel i director Faridur Reza Shagar, NTV executive director Enayetur Rahman Bappi, New Nation editor Mostafa Kamal Mazumdar, Radio Today's Rafiqul Haque and others from national dailies and electronic media joined the talks.

Tuesday, March 17, 2009

PM calls for consensus to protect child rights




Dhaka, March 17 —Prime minister Sheikh Hasina, speaking on National Children's Day Tuesday, urged all to reach a consensus on protecting child rights. "Let's dedicate our present for the furtherance of future generations," said Hasina. The prime minister was addressing an audience of children and adults at a programme to mark the day alongside the 89th birth anniversary of her father and independence leader Bangabandhu Sheikh Mujibur Rahman at Osmani Memorial Hall. Addressing the children, she said, "I'm dedicating my present days to ensure that you all may live loftily, raising your heads high." "Today is National Children's Day. But I see all elders sitting in the front rows here. Please keep in mind that I'd be much happier today if I saw the children sitting in front," Hasina said addressing cabinet ministers at the front of the audience. Calling upon the affluent in society to stand beside helpless and neglected children, the prime minister said, "We must do our best to ensure a better future for our children so that they are able to laugh and stand upright as worthy global citizens." "We have failed to educate our people to date. The literacy rate is still under 60 percent. I can vouchsafe that if Bangabandhu were alive, Bangladesh wouldn't be seeking assistance today from all over the globe, it would be a model state instead," she said. Advising the children to pursue the path of justice and right, and not to bow down before any wrong, Hasina encouraged them to take lessons from her father's life. "Children must be protected against distortion of history," she added. Reminiscing about her father and his political life, Hasina said, "Like other children, we missed going to school holding our father's hand." "Instead, to meet our father, we had to go to different jails at different times. But we have always been proud of him, because he never compromised himself." "He was the leader of the nation when they killed him. But what did my mother do to suffer the same fate? My brothers? Their newly-wed brides? My ten-year old brother Russel, what was his offence? Rehana and I survived only because we were abroad," said Hasina in an emotional outburst. Earlier in the day, Sheikh Hasina and Awami League leaders, including cabinet members, the chief whip and others, laid flowers before Sheikh Mujib's portrait at Bangabandhu Memorial Museum in Dhanmondi.

Saturday, March 14, 2009

Sheikh Helal to be Bagherhat-1 MP


Dhaka, Mar 14 (bdnews24.com)—Sheikh Hasina's cousin Sheikh Helal Uddin on Saturday was all set to become MP for Bagherhat-1, one of the two seats vacated by the prime minister. Sheikh Helal is the son Sheikh Naser Rahman, younger brother of Sheikh Mujibur Rahman. Both were killed on Aug 15, 1975, along with other members of the family. Voting was due on Apr 2 for the seat as well as six other constituencies, but two other Bagherhat candidates failed to pass the EC scrutiny. The last date for appeal against the EC decision was Saturday. Nazmul Hasan, the EC official in charge of receiving appeals, told bdnews24.com that he had not received any appeal till 5pm. "He is all set to become MP, but a formal announcement will be made on Mar 19, the last day of nomination withdrawal," EC deputy secretary Mihir Sarwar Morshed told bdnews24.com. Meanwhile, three Rangpur-6 candidates Saturday challenged the EC decision cancelling their nominations. Motaharul Huq Bablu, Nur Alam Miah and Haider Rahman Miah, all independent candidates, were rejected by the EC on Mar 11. They were among 10 such candidates rejected by the EC. Rangpur-6 was also won by Sheikh Hasina in the Dec 29 election. Of the other five vacated seats, Khaleda Zia won Bogra 6-7, H M Ershad Rangpur-3 and Kurigram-2 and president Md Zillur Rahman Kishoreganj-6.

Basundhara probe looking into fire safety measures
















Dhaka, Mar 14 (bdnews24.com—The probe committee, formed during Friday's devastating Basundhara blaze, visited the site Saturday to look into what sort of fire safety measures were actually in place. "We are also asking why and how the building caught fire," the committee's chief Iqbal Khan Chowdhury said in a press conference. "And we are investigating whether there was any foul play," said Chowdhury, who is home ministry joint secretary (police). Architect Md Foyez Ullah said the committee wanted to discover what precautions and preparedness the building authorities had in case of fire. "We want to find out whether there was any gap in the response." Adviser to the Basundhara Group chairman, Mustafa Kamal Mohiuddin, said the company was considering what it could do for the victim's families. A point of information has been set up on the ground floor of the building to coordinate activities of the corporate offices that were gutted in the fire. Friday's blaze was confined to the offices on the top floors leaving the 20-storey building intact up to 13th floor. The mall will be reopened to shoppers in 2-3 days, said Mohiuddin.

Thursday, March 12, 2009

JMB links found: Faruq





Dhaka, Mar 12 (bdnews24.com)—Commerce minister Faruq Khan says JMB militants had links to the Feb 25-26 BDR massacre that left at least 59 army officers killed. "Not all BDR men were involved (in the mutiny) ... and some JMB links have been found," he told reporters Thursday, emerging from a conference he launched and addressed. Faruq, a former lieutenant colonel, was named Wednesday as head of a committee coordinating various inquiries into the carnage. The minister told the conference audience that the BDR headquarters incident was a "deep-rooted conspiracy". "It's a conspiracy against Bangladesh, its people and its moving forward." Faruq came down hard on the opposition. "They have not behaved in the manner which they should have in the time of 'national crisis'." "It was the fourth day when everything was over, they (opposition party) came up with their expert opinions," he said. It was an AGM of International Business Forum of Bangladesh (IBFB), held at Sheraton Hotel, which also heard from state minister for foreign affairs Hasan Mahmud, USAID official Todd Sorenson and IBFB president Mahmudul Islam Chowdhury.

Razzak to return to int'l cricket



Dhaka, Mar 12 (bdnews4.com) – Left arm spinner Abdur Razzak was set to return to international cricket after the ICC cleared his suspect bowling action, the Bangladesh Cricket Board said in a statement on Thursday. Razzak underwent a reassessment test at the Australian Institute of Sports on Feb 23. The 26-year-old was suspended by the ICC in November after an independent analysis of his bowling action revealed that it exceeded the 15-degree level of tolerance permitted under regulations. BCB cricket operations chairman Enayet Hossain Siraj said on Wednesday that "a positive result" was expected "in a couple of days". "(We will wait) until ICC let us know," said Siraj. "However, we came to know from a source that he now has no problem with his bowling action."

US endorses Hasina tactic



Dhaka, Mar 12 —The US envoy has told the prime minister that a peaceful resolution to the BDR mutiny minimised the loss of lives and property, a spokesman said Thursday. Ambassador (James F) Moriarty also told Sheikh Hasina that the US would provide all kinds of assistance to Bangladesh in the probe, press secretary Abul Kalam Azad told reporters after a meeting. "Ambassador Moriarty mourned the BDR killings and assured all US assistance to help Bangladesh wade through the crisis," Azad said. The prime minister thanked the US government for sending the FBI team to assist with the investigation, Azad said after Moriarty met Sheikh Hasina at her office. "The ambassador lauded the prime minister's leadership role during the BDR crisis," he said. The envoy emphasised that the US would continue with its assistance to help Bangladesh uphold its democratic and governance ideals, Azad said. The US government would also assist Bangladesh in combating terrorism. The secretary to the prime minister Molla Wahiduzzaman was present

Wednesday, March 11, 2009

Govt irks HC over delay in judiciary law passage in JS



Wed, Mar 11th, 2009 6:02 pm BdST
Dhaka, Mar11 – The government came under fire from the High Court Wednesday for the delay in the passage of the judiciary separation ordinance. In a suo moto rule, the court questioned the legality of the judicial magistracy after Feb 24, the day the ordinance made by the emergency government expired. The bench of justices ABM Khairul Haq and Abdul Hye gave the law secretary and the Supreme Court registrar to answer the rule by Mar 19. The judges wanted to know under what legal powers the judicial magistrates have been functioning after Feb 24. The court in the rule said that parliament did not pass the amended CrPC ordinances even 30 days after it was tabled in the maiden session. The ordinances expired on Feb 24 since those were not passed, according to section 93 of the constitution. The court solicited opinion of legal experts M Zahir and former attorney general Mahmudul Islam in the hearing on a petition on the appointment of staff to assist judicial magistracy and metropolitan magistracy. The lawyers were on the committee that reviewed the ordinances made by the interim government. They said they had suggested passage in parliament of the ordinance on the separation of the judiciary. The judiciary was made independent of the executive on Nov.1, 2007

Monday, March 9, 2009

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