Dhaka Bank’s profit falls by 13.69%

The Dhaka stock market experienced its largest single-day decline in nearly seven months due to panic-driven sell-offs triggered by rumors of a proposed capital gains tax on secondary market investments. Investors reacted anxiously to reports of a 15% tax on individual capital gains, prompting a rush to sell holdings.

The Bangladesh Bank (BB) has instructed banks to expedite the payment of outstanding dues to foreign airlines, aiming to resolve the issue and alleviate the ongoing dollar crisis. The BB spokesperson clarified that the actual volume of dues amounted to $177.79 million, contrary to media reports of $214 million.

The Bangladesh Bank (BB) has issued new guidelines for trading government securities on the secondary market, aiming to promote their popularity and develop the capital market. Investors interested in purchasing sovereign securities, also known as government bonds, through the stock exchange must possess Beneficiary Owner (BO) accounts.

Telecom operator Grameenphone has set an ambitious target to cut its carbon emissions by 50% before 2030, using 2019 emissions as a baseline. The company is actively implementing various initiatives to reduce its carbon footprint. These include enhancing energy efficiency, investing in renewable energy sources, fostering an energy-conscious culture, and collaborating with partners to minimize environmental impact, particularly in the supply chain.

Adani, an Indian power company, has encountered payment difficulties as the Power Development Board (PDB) in Bangladesh grapples with a shortage of dollars. Adani supplied 700-750 MW of electricity during the trial production period, totaling around 1.5 million units to PDB.

Investments made by full-fledged Islamic banks in Bangladesh have surged nearly nine times their deposits within a year, raising concerns about the overall health of the banking sector. Official figures show that these banks experienced a significant increase in loans, totaling Tk 46,011 crore, in the first quarter of 2023 compared to the same period in 2022.