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LEADS will develop Blockchain and Chatbot applications for LankaBangla
Mr. Mohammed Nasir Uddin Chowdhury, Managing Director of LankaBangla Securities Limited and Mr. Shaikh Wahid, Managing Director and CEO of LEADS Corporation Limited are seen exchanging documents after signing a Memorandum of understanding (MOU) at LEADS head office in Dhaka on Sunday.
Business Report
 
On 20th may 2018, a Memorandum of Understanding (MOU) was signed between LankaBangla Securities Limited and LEADS Corporation Limited for design, development and implementation of Blockchain and Chatbot applications.  The signing ceremony was held at LEADS head office in Rupayan Trade Center, Bangla Motors, Dhaka on Sunday. 
The agreement, in the form of a Memorandum of Understanding (MOU), strengthens the long relationship between LankaBangla and LEADS. This collaboration will help in adopting disruptive technologies for achieving common goals that will increase stability and ensure transparency in financial market. According to MOU, LEADS will jointly work with LankaBangla for the implementation of Blockchain based decentralized applications which will be applied in practice by LankaBangla. LEADS will also work jointly with LankaBangla to develop Chatbot application for better customer services. 
Mohammed Nasir Uddin Chowdhury, Managing Director of LankaBangla Securities Limited and Shaikh Wahid, Managing Director and CEO of LEADS Corporation Limited signed the MOU on behalf of their respective organizations. 
Speaking on the occasion, Managing Director of LankaBangla Mr. Chowdhury said: “We are always keen to adapt with new idea and technologies.This is why we extend our relationship with LEADS and are going to work together in disruptive technologies. Using blockchain there are many uses cases that we will implement together”. He also added, “This is only the beginning, hopefully with this we will achieve even greater goals”
Mr. Wahid, Managing Director of LEADS said:” We see partnership with the customers very seriously. We believe that working together will help us to grow faster. We have technical skills in Blockchain and Chatbot applications development which will help LankaBangla in achieving their business goals.”
From LankaBanglaMr. Mohammed Nasir Uddin Chowdhury, Managing Director, HassanZabed Chowdhury, CEO of LankaBangla Investment Limited, Mr. KhandokerSaffat Reza, CEO & Director of LankaBangla Securities Limited and Mr. S.A.R Md. Muinul Islam, CTO & Director,LankaBangla Securities Limited were present on the signing ceremony.
From LEADS Mr. Shaikh Abdul Aziz, Chairman, Mr. Masud Parvez, CFO& CTO,Mr. Rana Shohel, COO and Mr. Papias Hawlader, CIO ofLEADS Corporation Limitedwere also present among others on the occasion.

Comment

Mr. Mohammed Nasir Uddin Chowdhury, Managing Director of LankaBangla Securities Limited and Mr. Shaikh Wahid, Managing Director and CEO of LEADS Corporation Limited are seen exchanging documents after signing a Memorandum of understanding (MOU) at LEADS head office in Dhaka on Sunday.
Business Report
 
On 20th may 2018, a Memorandum of Understanding (MOU) was signed between LankaBangla Securities Limited and LEADS Corporation Limited for design, development and implementation of Blockchain and Chatbot applications.  The signing ceremony was held at LEADS head office in Rupayan Trade Center, Bangla Motors, Dhaka on Sunday. 
The agreement, in the form of a Memorandum of Understanding (MOU), strengthens the long relationship between LankaBangla and LEADS. This collaboration will help in adopting disruptive technologies for achieving common goals that will increase stability and ensure transparency in financial market. According to MOU, LEADS will jointly work with LankaBangla for the implementation of Blockchain based decentralized applications which will be applied in practice by LankaBangla. LEADS will also work jointly with LankaBangla to develop Chatbot application for better customer services. 
Mohammed Nasir Uddin Chowdhury, Managing Director of LankaBangla Securities Limited and Shaikh Wahid, Managing Director and CEO of LEADS Corporation Limited signed the MOU on behalf of their respective organizations. 
Speaking on the occasion, Managing Director of LankaBangla Mr. Chowdhury said: “We are always keen to adapt with new idea and technologies.This is why we extend our relationship with LEADS and are going to work together in disruptive technologies. Using blockchain there are many uses cases that we will implement together”. He also added, “This is only the beginning, hopefully with this we will achieve even greater goals”
Mr. Wahid, Managing Director of LEADS said:” We see partnership with the customers very seriously. We believe that working together will help us to grow faster. We have technical skills in Blockchain and Chatbot applications development which will help LankaBangla in achieving their business goals.”
From LankaBanglaMr. Mohammed Nasir Uddin Chowdhury, Managing Director, HassanZabed Chowdhury, CEO of LankaBangla Investment Limited, Mr. KhandokerSaffat Reza, CEO & Director of LankaBangla Securities Limited and Mr. S.A.R Md. Muinul Islam, CTO & Director,LankaBangla Securities Limited were present on the signing ceremony.
From LEADS Mr. Shaikh Abdul Aziz, Chairman, Mr. Masud Parvez, CFO& CTO,Mr. Rana Shohel, COO and Mr. Papias Hawlader, CIO ofLEADS Corporation Limitedwere also present among others on the occasion.

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BIA for withdrawal of 15pc VAT on insurance agent commission

Bangladesh Insurance Association (BIA) arranged a press conference on pre-budget discussion at its office in the city on Monday. Sheikh Kabir Hossain, President of the association presided. Vice-president Dr Rubina Hamid and leaders Monirul Haque, Mozaffa. BIA photo
Business Report
 
Bangladesh Insurance Association (BIA) has demanded withdrawal of 15 percent VAT on the insurance agent commission in the budget for fiscal year 2018-19 (FY19) for the expansion of insurance industry. 
“There is 15 percent VAT at source on agent commission that has been affecting the insurance industry. This VAT should be withdrawn for the expansion of insurance business,” said BIA president Sheikh Kabir Hossain at a press conference on Monday. 
He said the commission agents get from insurance companies is their income and they pay 5 percent tax on it. But if 15pc VAT is imposed on their income again it is equivalent to double tax, he added. 
Hossain also said all listed companies are paying corporate tax at a rate of 25 percent but the listed insurance companies are paying corporate tax at a rate of 40 percent. He demanded reduction of the corporate tax for the listed insurance companies. 
Terming the imposition of VAT on the premium of re-insurance as illogical, he said insurance companies collect 15 percent VAT while receive premium from clients and deposit it in the government exchequer and a part of this premium is given to the re-insurers. 
So, there is no scope to impose VAT on the premium of re-insurance, he maintained. 
He also demanded withdrawal of 5 percent gain tax from the policy bonus of life insurance policy holders. 
BIA vice-president Dr Rubina Hamid and BIA leaders Monirul Haque, Mozaffar Hossain Paltu and Manzur Alam, among others, were present at the press conference.

Comment

Bangladesh Insurance Association (BIA) arranged a press conference on pre-budget discussion at its office in the city on Monday. Sheikh Kabir Hossain, President of the association presided. Vice-president Dr Rubina Hamid and leaders Monirul Haque, Mozaffa. BIA photo
Business Report
 
Bangladesh Insurance Association (BIA) has demanded withdrawal of 15 percent VAT on the insurance agent commission in the budget for fiscal year 2018-19 (FY19) for the expansion of insurance industry. 
“There is 15 percent VAT at source on agent commission that has been affecting the insurance industry. This VAT should be withdrawn for the expansion of insurance business,” said BIA president Sheikh Kabir Hossain at a press conference on Monday. 
He said the commission agents get from insurance companies is their income and they pay 5 percent tax on it. But if 15pc VAT is imposed on their income again it is equivalent to double tax, he added. 
Hossain also said all listed companies are paying corporate tax at a rate of 25 percent but the listed insurance companies are paying corporate tax at a rate of 40 percent. He demanded reduction of the corporate tax for the listed insurance companies. 
Terming the imposition of VAT on the premium of re-insurance as illogical, he said insurance companies collect 15 percent VAT while receive premium from clients and deposit it in the government exchequer and a part of this premium is given to the re-insurers. 
So, there is no scope to impose VAT on the premium of re-insurance, he maintained. 
He also demanded withdrawal of 5 percent gain tax from the policy bonus of life insurance policy holders. 
BIA vice-president Dr Rubina Hamid and BIA leaders Monirul Haque, Mozaffar Hossain Paltu and Manzur Alam, among others, were present at the press conference.

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EU moves to block US sanctions on Iran to protect business

Nenov/Reuters
 
The European Commission will launch the process of activating a law that bans European companies and courts from complying with US sanctions against Iran after Washington pulled out of the landmark 2015 nuclear deal.
Jean Claude Juncker, president of the European Commission, said on Thursday the commission has a “duty to protect European companies” from American sanctions.
“We now need to act, and this is why we are launching the process to activate the ‘blocking statute’ from 1996. We will do that tomorrow [Friday] morning at 10:30,” he told a news conference in the Bulgarian capital, Sofia, after a meeting of European Union leaders. 
The EU wants to salvage the nuclear deal, and its blocking statute is the most powerful tool at its immediate disposal, as it means EU companies won’t have to comply with US sanctions. 
It also does not recognise any court rulings that enforce American penalties.
Juncker’s announcement comes after US President Donald Trump withdrew Washington from the international deal with Iran, which placed limits on Tehran’s nuclear programme in exchange for sanctions relief. 
The UK, France, Germany, China and Russia were signatories of the 2015 pact and have opposed the US pullout.
But companies around the world now face a difficult choice as Washington has threatened to punish firms that violate US sanctions by dealing with Iran.
Hassan Rouhani, Iran’s president, said Tehran would remain committed to the deal, provided the deal’s remaining signatories ensure Iran was protected from sanctions. 
 
Blocking statute
Al Jazeera’s Paul Brennan, reporting from Sofia, said EU leaders showed unity at summit by pledging to stick by the Iran accord. “But they know their options are limited”, he said.
The blocking statute – a regulation created in 1996 to get around Washington’s trade embargo on Cuba – was “outdated”, Brennan said. 
“The 1996 law was used to defend European businesses from US penalties for dealing with Cuba. But the US Congress has since passed new laws that make the EU statute outdated, such as threats to cut off companies’ access to the US banking system,” he said.
“The blocking mechanism will help small businesses that do not deal with the US, but the big multi-national companies, like Total and Maersk, are dealing in dollars and that means they will be subject to US sanctions if they continue to trade with Iran,” he said.
Earlier in the day, Valdis Dombrovskis, financial services commissioner, told European parliament that using the blocking statute to ban banks from following the US sanctions would be of limited use, given the global reach of finance.
“The EU blocking regulation could be of limited effectiveness there, given the international nature of banking system and especially the exposure of large systemic banks to US financial system and US dollar transactions,” he said.
 
Nervous companies
Several European countries have quit business with Iran following the US exit. 
Danish shipping giant Maersk Tankers also said Thursday it would cease its activities in Iran, while German insurer Allianz announced plans to wind down its business deals there. 
Italian steel manufacturer Danieli announced it has halted work on finding financial coverage for orders it won in Iran worth 1.5 billion euros ($1.8bn).
The French energy giant, Total, warned on Wednesday it would pull out of a multibillion-dollar project to develop the vast South Pars gas field, which started in July 2017, unless it is granted a waiver by US authorities.
That led Bijan Zangeneh, Iran’s oil minister, to announce that Chinese state-owned oil company CNPC was ready to replace Total if it withdraws.
Separately, a British consortium, Pergas International, signed a preliminary deal with National Iranian South Oil Co to develop the Karanj oil field late on Wednesday, according to Iranian state TV. 
The agreement is the first between Iran and a European company since the US exit from the nuclear accord.
Meanwhile, Russia moved to extend its economic influence in Iran.
In the Kazakh capital, Astana, the Russia-led Eurasian Economic Union trade bloc signed an interim trade deal with Iran that lowers tariffs on hundreds of goods.
The bloc, which also comprises Armenia, Belarus, Kazakhstan and Kyrgyzstan, plans to begin three years of talks with Iran that aim to create a free trade zone.
 
‘Oil at $100 a barrel’
Total’s CEO said on Thursday he wouldn’t be surprised to see the price of a barrel of crude reach $100 later this year because of international political disputes.
“We are in a new world. We are in a world where geopolitics are dominating the market again,” Patrick Pouyanne said at an event at a Washington think-tank.
Market ripples from Venezuela’s economic distress and Trump’s decision to exit the Iran nuclear deal have oil prices surging. On Thursday, a barrel of North Sea Brent briefly passed $80 for the first time since November 2014.
“You have the announcement on Iran, which is pushing the price up,” said Pouyanne. “So I wouldn’t be surprised to see $100 per barrel in the coming months.”

Comment

Nenov/Reuters
 
The European Commission will launch the process of activating a law that bans European companies and courts from complying with US sanctions against Iran after Washington pulled out of the landmark 2015 nuclear deal.
Jean Claude Juncker, president of the European Commission, said on Thursday the commission has a “duty to protect European companies” from American sanctions.
“We now need to act, and this is why we are launching the process to activate the ‘blocking statute’ from 1996. We will do that tomorrow [Friday] morning at 10:30,” he told a news conference in the Bulgarian capital, Sofia, after a meeting of European Union leaders. 
The EU wants to salvage the nuclear deal, and its blocking statute is the most powerful tool at its immediate disposal, as it means EU companies won’t have to comply with US sanctions. 
It also does not recognise any court rulings that enforce American penalties.
Juncker’s announcement comes after US President Donald Trump withdrew Washington from the international deal with Iran, which placed limits on Tehran’s nuclear programme in exchange for sanctions relief. 
The UK, France, Germany, China and Russia were signatories of the 2015 pact and have opposed the US pullout.
But companies around the world now face a difficult choice as Washington has threatened to punish firms that violate US sanctions by dealing with Iran.
Hassan Rouhani, Iran’s president, said Tehran would remain committed to the deal, provided the deal’s remaining signatories ensure Iran was protected from sanctions. 
 
Blocking statute
Al Jazeera’s Paul Brennan, reporting from Sofia, said EU leaders showed unity at summit by pledging to stick by the Iran accord. “But they know their options are limited”, he said.
The blocking statute – a regulation created in 1996 to get around Washington’s trade embargo on Cuba – was “outdated”, Brennan said. 
“The 1996 law was used to defend European businesses from US penalties for dealing with Cuba. But the US Congress has since passed new laws that make the EU statute outdated, such as threats to cut off companies’ access to the US banking system,” he said.
“The blocking mechanism will help small businesses that do not deal with the US, but the big multi-national companies, like Total and Maersk, are dealing in dollars and that means they will be subject to US sanctions if they continue to trade with Iran,” he said.
Earlier in the day, Valdis Dombrovskis, financial services commissioner, told European parliament that using the blocking statute to ban banks from following the US sanctions would be of limited use, given the global reach of finance.
“The EU blocking regulation could be of limited effectiveness there, given the international nature of banking system and especially the exposure of large systemic banks to US financial system and US dollar transactions,” he said.
 
Nervous companies
Several European countries have quit business with Iran following the US exit. 
Danish shipping giant Maersk Tankers also said Thursday it would cease its activities in Iran, while German insurer Allianz announced plans to wind down its business deals there. 
Italian steel manufacturer Danieli announced it has halted work on finding financial coverage for orders it won in Iran worth 1.5 billion euros ($1.8bn).
The French energy giant, Total, warned on Wednesday it would pull out of a multibillion-dollar project to develop the vast South Pars gas field, which started in July 2017, unless it is granted a waiver by US authorities.
That led Bijan Zangeneh, Iran’s oil minister, to announce that Chinese state-owned oil company CNPC was ready to replace Total if it withdraws.
Separately, a British consortium, Pergas International, signed a preliminary deal with National Iranian South Oil Co to develop the Karanj oil field late on Wednesday, according to Iranian state TV. 
The agreement is the first between Iran and a European company since the US exit from the nuclear accord.
Meanwhile, Russia moved to extend its economic influence in Iran.
In the Kazakh capital, Astana, the Russia-led Eurasian Economic Union trade bloc signed an interim trade deal with Iran that lowers tariffs on hundreds of goods.
The bloc, which also comprises Armenia, Belarus, Kazakhstan and Kyrgyzstan, plans to begin three years of talks with Iran that aim to create a free trade zone.
 
‘Oil at $100 a barrel’
Total’s CEO said on Thursday he wouldn’t be surprised to see the price of a barrel of crude reach $100 later this year because of international political disputes.
“We are in a new world. We are in a world where geopolitics are dominating the market again,” Patrick Pouyanne said at an event at a Washington think-tank.
Market ripples from Venezuela’s economic distress and Trump’s decision to exit the Iran nuclear deal have oil prices surging. On Thursday, a barrel of North Sea Brent briefly passed $80 for the first time since November 2014.
“You have the announcement on Iran, which is pushing the price up,” said Pouyanne. “So I wouldn’t be surprised to see $100 per barrel in the coming months.”

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US, China agree to put trade war on hold

AFP, Beijing
 
Washington and Beijing have agreed to abandon any trade war and back off from imposing tariffs on each other, Chinese state media reported Sunday.
The announcement came after high-level talks in the US capital and followed months of tensions over what President Donald Trump has blasted as an unfair commercial relationship between the two economic giants.
Vice-Premier Liu He, who led Chinese negotiators in Washington said: “The two sides reached a consensus, will not fight a trade war, and will stop increasing tariffs on each other,” state-run news agency Xinhua reported Sunday.
Liu called the agreement a “necessity”, but added: “At the same time it must be realised that unfreezing the ice cannot be done in a day, solving the structural problems of the economic and trade relations between the two countries will take time.”
An earlier joint statement issued in Washington said Beijing would “significantly” increase its purchases of American goods, but offered few details.
The apparent detente comes after months of increasing tensions that have set markets on edge over fears of a damaging trade war.
Trump has repeatedly railed against his country’s trade deficit with China, describing it as a danger to US national security and threatening to impose tariffs on billions of dollars’ worth of Chinese goods.
US levies on $50 billion of Chinese imports could have come into effect as early as next week.
The talks in Washington were between delegations led by US Treasury Secretary Steven Mnuchin and Liu, who also met Thursday with Trump. The sides had met earlier in Beijing.
“There was a consensus on taking effective measures to substantially reduce the United States trade deficit in goods with China,” the joint statement said.
“To meet the growing consumption needs of the Chinese people and the need for high-quality economic development, China will significantly increase purchases of United States goods and services.”
Last year, the United States had a $375.2 billion trade deficit with China, with populist politicians blaming the Asian powerhouse for the leeching of American jobs over the last few decades. Washington reportedly had demanded the deficit be slashed by at least $200 billion by 2020.
However, the joint statement held no indication that China had assented to that target.
It said both sides had agreed on “meaningful increases” in US agriculture and energy exports. Liu said the new trade cooperation would extend to medical care, high-tech products, and finance, according to Xinhua.
They also agreed to strengthen cooperation on protecting intellectual property — a long-standing source of US discontent.
The two countries, their economies enormously interlinked, opened the delicate negotiations a few weeks ago.
Trump had threatened China with tariffs on up to $150 billion of imports, prompting Beijing to warn it would target US agricultural exports, aircraft, and even whiskey.
The White House is wary of hurting largely Republican-voting farm states or damaging the economy before legislative elections this November. But Trump is also keen to appear tough on trade.
On Thursday, he unleashed a barrage of criticism against former US administrations, saying they had allowed Beijing to take advantage of the United States.
“We have been ripped off by China. And an evacuation of wealth like no country has ever seen before given to another country that’s rebuilt itself based on a lot of the money that they’ve taken out of the United States,” he said.
“China has become very spoiled.”
The trade issue is complicated by the impending summit meeting in Singapore between Trump and North Korean leader Kim Jong Un, who has consulted with Chinese leader Xi Jinping.
China is North Korea’s biggest trade partner, and Trump has called on it repeatedly to press Pyongyang to rein in its nuclear and missile programs.
The joint statement made no mention of Chinese telecom giant ZTE, which had suspended operations after US sanctions were imposed to punish it for exporting sensitive materials to Iran and North Korea.

Comment

AFP, Beijing
 
Washington and Beijing have agreed to abandon any trade war and back off from imposing tariffs on each other, Chinese state media reported Sunday.
The announcement came after high-level talks in the US capital and followed months of tensions over what President Donald Trump has blasted as an unfair commercial relationship between the two economic giants.
Vice-Premier Liu He, who led Chinese negotiators in Washington said: “The two sides reached a consensus, will not fight a trade war, and will stop increasing tariffs on each other,” state-run news agency Xinhua reported Sunday.
Liu called the agreement a “necessity”, but added: “At the same time it must be realised that unfreezing the ice cannot be done in a day, solving the structural problems of the economic and trade relations between the two countries will take time.”
An earlier joint statement issued in Washington said Beijing would “significantly” increase its purchases of American goods, but offered few details.
The apparent detente comes after months of increasing tensions that have set markets on edge over fears of a damaging trade war.
Trump has repeatedly railed against his country’s trade deficit with China, describing it as a danger to US national security and threatening to impose tariffs on billions of dollars’ worth of Chinese goods.
US levies on $50 billion of Chinese imports could have come into effect as early as next week.
The talks in Washington were between delegations led by US Treasury Secretary Steven Mnuchin and Liu, who also met Thursday with Trump. The sides had met earlier in Beijing.
“There was a consensus on taking effective measures to substantially reduce the United States trade deficit in goods with China,” the joint statement said.
“To meet the growing consumption needs of the Chinese people and the need for high-quality economic development, China will significantly increase purchases of United States goods and services.”
Last year, the United States had a $375.2 billion trade deficit with China, with populist politicians blaming the Asian powerhouse for the leeching of American jobs over the last few decades. Washington reportedly had demanded the deficit be slashed by at least $200 billion by 2020.
However, the joint statement held no indication that China had assented to that target.
It said both sides had agreed on “meaningful increases” in US agriculture and energy exports. Liu said the new trade cooperation would extend to medical care, high-tech products, and finance, according to Xinhua.
They also agreed to strengthen cooperation on protecting intellectual property — a long-standing source of US discontent.
The two countries, their economies enormously interlinked, opened the delicate negotiations a few weeks ago.
Trump had threatened China with tariffs on up to $150 billion of imports, prompting Beijing to warn it would target US agricultural exports, aircraft, and even whiskey.
The White House is wary of hurting largely Republican-voting farm states or damaging the economy before legislative elections this November. But Trump is also keen to appear tough on trade.
On Thursday, he unleashed a barrage of criticism against former US administrations, saying they had allowed Beijing to take advantage of the United States.
“We have been ripped off by China. And an evacuation of wealth like no country has ever seen before given to another country that’s rebuilt itself based on a lot of the money that they’ve taken out of the United States,” he said.
“China has become very spoiled.”
The trade issue is complicated by the impending summit meeting in Singapore between Trump and North Korean leader Kim Jong Un, who has consulted with Chinese leader Xi Jinping.
China is North Korea’s biggest trade partner, and Trump has called on it repeatedly to press Pyongyang to rein in its nuclear and missile programs.
The joint statement made no mention of Chinese telecom giant ZTE, which had suspended operations after US sanctions were imposed to punish it for exporting sensitive materials to Iran and North Korea.

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Stocks break losing streak

Business Report
 
Stock markets returned to a green zone on Monday after showing downward rend in the previous 13 sessions. Trading at both Dhaka and Chittagong stock exchanges were found finishing upward trend with higher activities of large-cap securities. 
The markets were downbeat in the last 13 days, taking the broader index at the prime bourse down at the close of every trading session since April 30. Reports said the Dhaka bourse lost over Tk 20,000 crore capital for decline in prices of the issues, mainly large caps sending shock waves to investors.  
The broader index of DSEX closed the session on Monday with 22.59 points up at 5,413.29. The Shariah DSES also followed the same trend with 2.93 points up at 1,268.18. 
But, the blue-chip DS30 closed the day with 1.92 points down at 2007.09. 
The day’s trade value at DSE increased to Taka 561.81 crore from Sunday’s Taka 395.66 crore and the daily trade also increased to 13.48 crore shares from 9.47 crore shares of the previous session. 
At the DSE, out of the day’s 333 securities, prices of 199 securities closed higher against 94 losing issues. The major gaining issues were Prime Life, GHAIL, Far East Life, Central Insurance and RN Spinning. 
The major losing companies were Karnaphuli, ECABLES, EBL, Standard Insurance and Asian Insurance, DSE statement said.

Comment

Business Report
 
Stock markets returned to a green zone on Monday after showing downward rend in the previous 13 sessions. Trading at both Dhaka and Chittagong stock exchanges were found finishing upward trend with higher activities of large-cap securities. 
The markets were downbeat in the last 13 days, taking the broader index at the prime bourse down at the close of every trading session since April 30. Reports said the Dhaka bourse lost over Tk 20,000 crore capital for decline in prices of the issues, mainly large caps sending shock waves to investors.  
The broader index of DSEX closed the session on Monday with 22.59 points up at 5,413.29. The Shariah DSES also followed the same trend with 2.93 points up at 1,268.18. 
But, the blue-chip DS30 closed the day with 1.92 points down at 2007.09. 
The day’s trade value at DSE increased to Taka 561.81 crore from Sunday’s Taka 395.66 crore and the daily trade also increased to 13.48 crore shares from 9.47 crore shares of the previous session. 
At the DSE, out of the day’s 333 securities, prices of 199 securities closed higher against 94 losing issues. The major gaining issues were Prime Life, GHAIL, Far East Life, Central Insurance and RN Spinning. 
The major losing companies were Karnaphuli, ECABLES, EBL, Standard Insurance and Asian Insurance, DSE statement said.

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FBCCI eyes to invest in agriculture in Africa

Business Report
 
FBCCI leaders will visit African countries soon to find out the potentials of contract farming in agriculture sector there. The business leaders will also find out the market of our exportable goods to this region. 
The FBCCI leaders said they are keen to lease out lands for farming and invest in agriculture in countries like Uganda and Ethiopia. The business leaders have also expressed their interest to export RMG products, Pharmaceuticals, Jute & Jute Goods, Cement, Plastic Goods and Ceramic Products to African market. 
They came up with these propositions at a meeting of the FBCCI relating wing of the Ministry of Foreign Affairs (Africa) on Sunday at FBCCI Board Room.
Abul Hossain, Chairman of the Standing Committee, at the meeting, presented the detailed future plan of the committee. Hossain is currently performing as Honorary Consul of Uganda in Bangladesh and working actively to develop trade relation between Bangladesh and the African Nations. 
Amin Helali, former Director In charge of the committee and the members from different sectors also took part in the discussion, said a press release.

Comment

Business Report
 
FBCCI leaders will visit African countries soon to find out the potentials of contract farming in agriculture sector there. The business leaders will also find out the market of our exportable goods to this region. 
The FBCCI leaders said they are keen to lease out lands for farming and invest in agriculture in countries like Uganda and Ethiopia. The business leaders have also expressed their interest to export RMG products, Pharmaceuticals, Jute & Jute Goods, Cement, Plastic Goods and Ceramic Products to African market. 
They came up with these propositions at a meeting of the FBCCI relating wing of the Ministry of Foreign Affairs (Africa) on Sunday at FBCCI Board Room.
Abul Hossain, Chairman of the Standing Committee, at the meeting, presented the detailed future plan of the committee. Hossain is currently performing as Honorary Consul of Uganda in Bangladesh and working actively to develop trade relation between Bangladesh and the African Nations. 
Amin Helali, former Director In charge of the committee and the members from different sectors also took part in the discussion, said a press release.

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