Friday, July 19, 2019 | ePaper

Stocks rebound on tax review hope

  • Print
Economic Reporter :
Stocks rebounded on Wednesday, after remaining flat in the past few sessions, as investors showed their buying appetite on budget review expectations.
The market opened on positive note and the upturn continued until end of the session with no sign of reversal.
At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 29.73 points or 0.55 per cent to finish at 5,410.
Market insiders said tax review expectations coupled with June closing year-end earnings and dividend declarations prompted investors to inject fresh funds on stocks.
The Finance Minister AHM Mustafa Kamal proposed, among other, imposition of 15 per cent additional tax on retained earnings and reserves, if the amount exceeds 50 per cent of the paid-up capital of the company.
The minister also proposed imposition of 15 per cent tax on stock dividend to promote cash dividend as part of efforts to increase money flow into the stock market.
In the wake of strong criticism from market stakeholders, the National Board of Revenue (NBR) chairman hinted at the possibility of reviewing the proposals announced in the budget for fiscal year (FY) 2019-20.

More News For this Category

Marcel TV customers offered free fridges in every day

Business Desk :The local electronics manufacturer Marcel has declared a fresh offer for its television's customers on the occasion of the upcoming Eid-ul-Azha, says a press release. As per

China to invest $2m in Mongla EPZ

Business Desk :Chinese company M/s. Dongguan Bluebox Industries Bangladesh Co. Ltd. will invest US$ 2 million to establish a Packaging Manufacturing industry in Mongla Export Processing Zone. Recently, BEPZA

GTF to promote financial facilities for emerging sectors: BUILD

Business Desk :Business Initiative Leading Development (BUILD), a platform for fact-based and research-backed dialogue and advocacy, has said the Green Transformation Fund (GTF) will promote concessional financial facilities for

First Security Islami Bank Limited arranges a 2-daylong Half Yearly Business Conference at Radisson Blu Dhaka Water Garden on Thursday. Syed Waseque Md. Ali, Managing Director, Abdul Aziz, AMD, Md. Mustafa Khair and Md. Zahurul Haque, DMDs, Principal of Training Institute, Head of Divisions of Head Office, Head of Zonal Offices, Branch Managers and other officials were present in the conference.

First Security Islami Bank Limited arranges a 2-daylong Half Yearly Business Conference at Radisson Blu Dhaka Water Garden on Thursday. Syed Waseque Md. Ali, Managing Director, Abdul Aziz, AMD, Md. Mustafa Khair and Md. Zahurul Haque, DMDs, Principal of Training Institute, Head of Divisions of Head Office, Head of Zonal Offices, Branch Managers and other officials were present in the conference.

.

Bangladesh's RMG to enter Brazil, Russia within 18 months

Economic Reporter :Commerce Minister Tipu Munshi on Thursday said that the Bangladeshi RMG export items would be able to enter the markets of Brazil and Russia within the next

Mutual Trust Bank Limited (MTB) and University of Dhaka have recently launched an exclusive MTB-University of Dhaka Visa Signature & Platinum Credit Card for the teachers and officials of the University of Dhaka. The MoU signing ceremony was held on Tuesday at Dr Abdullah Faruk Conference Hall, University of Dhaka. Professor Shibli Rubayat Ul Islam, Dean, Business Studies Faculty, University of Dhaka attended the event as the Chief Guest, while Professor Dr Abul Hossain, University of Dhaka graced the event as the Special Guest.

Mutual Trust Bank Limited (MTB) and University of Dhaka have recently launched an exclusive MTB-University of Dhaka Visa Signature & Platinum Credit Card for the teachers and officials of the University of Dhaka. The MoU signing ceremony was held on Tuesday at Dr Abdullah Faruk Conference Hall, University of Dhaka. Professor Shibli Rubayat Ul Islam, Dean, Business Studies Faculty, University of Dhaka attended the event as the Chief Guest, while Professor Dr Abul Hossain, University of Dhaka graced the event as the Special Guest.

.

ADB report foresees Asia to maintain moderating growth

ADB report foresees Asia to maintain moderating growth

Business Desk :Developing Asia will maintain strong but moderating growth over 2019 and 2020, as supportive domestic demand counteracts an environment of global trade tensions, according to a new

BAB's activities to be expanded: Humayun

Business Desk :Industries Minister Nurul Majid Mahmud Humayun Thursday said the activities and manpower of the Bangladesh Accreditation Board (BAB) will be expanded to create a conducive environment for

BD primary beneficiary of US-China trade war

BD primary beneficiary of US-China trade war

Gazi Anowar :The foreign direct investment (FDI) soars in Bangladesh as foreign companies, especially Chinese firms, are relocating here to avoid higher tariff in China imposed by US government. 

Syed Mahbubur Rahman, Managing Director of Dhaka Bank Ltd and Md Miarul Haque, Country Manager of DHL Worldwide Express (BD) Pvt. Ltd, exchanging a signing document for international correspondence and communication at the Bank's corporate office recently. Md. Shakir Amin Chowdhury, DMD, Md. Altamas Nirjhar, Head of General Services Division of the Bank and ASM Shakil, Commercial Director of DHL were also present.

Syed Mahbubur Rahman, Managing Director of Dhaka Bank Ltd and Md Miarul Haque, Country Manager of DHL Worldwide Express (BD) Pvt. Ltd, exchanging a signing document for international correspondence and communication at the Bank's corporate office recently. Md. Shakir Amin Chowdhury, DMD, Md. Altamas Nirjhar, Head of General Services Division of the Bank and ASM Shakil, Commercial Director of DHL were also present.

.