NDB to Provide $443M for Aging Gas Pipeline Replacement

The government has decided to review contracts signed under the Quick Enhancement of Electricity and Energy Supply (Special Provision) Act 2010, commonly known as the indemnity act, which allowed public contracts to be awarded without tenders and shielded government actions in the energy sector from judicial scrutiny.

Islami Bank Bangladesh is facing uncertainty over recovering Tk 8,279 crore provided as liquidity support to  four banks—First Security Islami Bank, Union Bank, Social Islami Bank, and Global Islami Bank—and one non-bank financial institution, Aviva Finance. 

The Advisers Council Committee on Economic Affairs approved, in principle, a proposal for emergency LNG procurement from the spot market to address the country's gas demand. The LNG will be sourced from 23 firms under Master Sale Purchase Agreements with Petrobangla, following Public Procurement Rules, 2008.

The Dhaka Stock Exchange (DSE) benchmark index, DSEX, surged by 500 points in the past month, reaching 5,728.64 on September 4, 2024, up from 5,229.26 on August 4. Turnover increased from Tk 207 crore to Tk 674 crore, peaking at Tk 2,010 crore on August 11. The rise follows political changes and reforms by the interim government, including new leadership at the Bangladesh Securities and Exchange Commission (BSEC) and Dhaka Stock Exchange (DSE).

Walton Hi-Tech Industries PLC declared a 350% cash dividend for general shareholders and a 200% cash dividend for sponsors and directors for the financial year 2023-24. General shareholders will receive Tk 35 per share, while sponsors and directors will get Tk 20 per share.

National Bank Limited launched the 'Nischinto Oboshor' savings scheme on September 5, 2024. The event was attended by Managing Director and CEO Touhidul Alam Khan, along with Deputy Managing Directors Sheikh Akhter Uddin Ahmed, Imran Ahmed, and Md. Abdul Matin. The scheme offers attractive pension benefits upon maturity for deposits of varying tenures and amounts.