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Showing posts with label Bangladesh. Show all posts
Showing posts with label Bangladesh. Show all posts

Saturday, June 11, 2022

Meditation services are now subject to VAT.

 


After three years of exemption, the government has proposed imposing VAT on meditation services.

In his budget statement issued, Finance Minister AHM Mustafa Kamal announced, "I propose to eliminate the existing VAT exemption on 'Meditation Services."

During his budget presentation for the current fiscal year (Financial Year 2022), the finance minister, on the other hand, supported the decision to exempt meditation from VAT, claiming that it was decided for the benefit of mental health and mind control during the global pandemic.


7.0 percent VAT on meditation was originally introduced in Financial Year 2014, however it was later reversed by then-finance minister AMA Muhith in Financial Year 2015, emphasizing the role of allowing citizens to heal from diseases and illnesses.

VAT on meditation was suggested again in the Financial Year 2019 budget presentation, but the finance minister put it aside for the past two years, revising the same fiscal's proposed finance law.

Friday, June 10, 2022

The tax credit for middle-income individuals is shrinking.

 


In the coming fiscal year, tax relocation due to investment is expected to decrease for the middle-income group of people of Bangladesh.

Currently, only a maximum of 25% can be invested.

For the coming fiscal year, the Finance Bill-2022 proposes a reduction in the amount of investment that is eligible for a tax credit to 20%. It also increased the income tax rate as well as the ranges of qualified investments.

Currently, an individual taxpayer with a yearly income of up to Tk 1.5 million is eligible for a 15% tax credit on a qualifying investment amount of up to 25% of total income.

For anyone with an income of up to Tk 1.5 million, the tax credit ratio would remain constant, whereas those higher earnings will advantage from the policy.

In the upcoming financial year, the tax refund rate for individuals with annual incomes over Tk 1.5 million would be increased from 10% to 15%.

Wednesday, May 12, 2021

Bangladesh – Play the Strategy Game to become a Regional Power in South Asia.

Pushing or Pulling towards the center of the board. Getting some notice or it’s a threat from China as Chinese Ambassador to Bangladesh Li Jiming said on Monday that China-Bangladesh bilateral ties would be substantially damaged if Dhaka engaged with Quad, according to the media report. The Quadrilateral Security Dialogue (Quad), an informal security grouping of the US, Japan, Australia and India, are now seeking to seduce Bangladesh to be part of their Indo-Pacific strategy tie.


As an important partner of China, Bangladesh signed up to the China-proposed Belt and Road Initiative (BRI) and is a member of the Bangladesh-China-India-Myanmar Economic Corridor and 21st Century Maritime Silk Road. One of the crucial aims of both US' and India's Indo-Pacific visions is to counter the BRI with a bid to contain China's development. Roping in Bangladesh can help them achieve this goal.


Another Quad member, Japan, is engaged in many areas of cooperation with Bangladesh as well. For one, Bangladesh's market is appealing to Japan. Despite its small size, Bangladesh has a population of more than 160 million. For another, out of geopolitical considerations, Tokyo hopes to counter the BRI. Japan has proposed the Partnership for Quality Infrastructure and attempted to sign infrastructure deals with Bangladesh. Tokyo, together with New Delhi and Washington, are really the ones behind the scenes that instigated Dhaka to call off the Sonadia deep-sea port project that was constructed by China and turn to cooperate with Japan on another similar program, reported by the media in 2016.

As a response, Bangladesh Foreign Minister AK Abdul Moment told local English daily Dhaka Post that, "None of us were invited to the Quad, nor did we show interest." If what Chinese Ambassador said is the fact, this will be good. But given that some media outlets, including local ones, had covered Li's remarks, the news that Bangladesh had been invited to join the Quad was possibly not be groundless. Bangladesh either had talked with Quad members over this issue or aim to launch a trial balloon to see China's reaction.

 


Bangladesh holds a good balance between major powers. It actively cooperates with China on economics. At the same time, Dhaka hopes such cooperation will thus bring more countries to invest in Bangladesh. But it also hopes a competition over it remains at the economic level instead of at the political level. Bangladesh raises its value to the regional powers in the Geopolitical prospective. The strategy should secure the higher economic value from the international partners as well as stable the position from Underdog to Regional Power.

Tuesday, May 11, 2021

TOP 5 Gainer's Market Information and Interim Financial Performance of DSE on May 11, 2021

Company Name: Dhaka Insurance Limited 

Trading Code: DHAKAINS

Scrip Code: 25744

 Figure in BDT

Market Information: May 11, 2021

Last Trading Price

77.50

Closing Price

77.50

Last Update

2:31 PM

Day's Range

71.00 - 77.50

Change*

7

Day's Value (mn)

47.74

9.93%

52 Weeks' Moving Range

24.00 - 90.00

Opening Price

71.00

Day's Volume (Nos.)

631,500.00

Adjusted Opening Price

70.50

Day's Trade (Nos.)

1,034

Yesterday's Closing Price

70.50

Market Capitalization (mn)

2,828.813

*Based on Yesterday's Closing Price and Last Trading Price.

Interim Financial Performance: 2020

Particulars

Unaudited / Audited

Q1

Q2

Half Yearly

Q3

9 Months
202009

Annual

Ending on

Ending on

6 Months
202006

Ending on

Ending on

202003

202006

202009

Turnover/Revenue (mn)

55.67

55.07

110.74

60.81

171.55

-

Profit from continuing operations (mn)

25.33

18.67

44

32.44

76.42

-

Profit for the period (mn)

25.33

18.67

44

32.44

76.42

-

Total Comprehensive Income for the period (mn)

25.33

18.67

44

32.44

76.42

-

Earnings Per Share (EPS)

Basic

0.630

0.470

1.100

0.800

1.900

-

Diluted*

-

-

-

-

-

-

Earnings Per Share (EPS) - continuing operations

Basic

0.630

0.470

1.100

0.800

1.900

-

Diluted*

-

-

-

-

-

-

Market price per share at period end

24

24

24

44.4

44.4

-

*As per BSEC Directive No. SEC/CMRRCD/2009-193/64, dated September 21, 2010.

TOP 5 Gainers of DSE


 
Company Name: Pioneer Insurance Company Ltd. 

Trading Code: PIONEERINS

Scrip Code: 25720

 Figure in BDT

Market Information: May 11, 2021

Last Trading Price

102.00

Closing Price

102.00

Last Update

2:31 PM

Day's Range

94.60 - 102.00

Change*

9.2

Day's Value (mn)

279.43

9.91%

52 Weeks' Moving Range

29.40 - 102.00

Opening Price

94.90

Day's Volume (Nos.)

2,804,978.00

Adjusted Opening Price

92.80

Day's Trade (Nos.)

2,663

Yesterday's Closing Price

92.80

Market Capitalization (mn)

6,494.202

*Based on Yesterday's Closing Price and Last Trading Price.

Interim Financial Performance: 2020

Particulars

Unaudited / Audited

Q1

Q2

Half Yearly

Q3

9 Months
202009

Annual

Ending on

Ending on

6 Months
202006

Ending on

Ending on

202003

202006

202009

Turnover/Revenue (mn)

459.44

364.7

824.14

411.65

1235.79

-

Profit from continuing operations (mn)

142.12

139.5

281.62

139.57

421.19

-

Profit for the period (mn)

142.12

139.5

281.62

139.57

421.19

-

Total Comprehensive Income for the period (mn)

142.12

139.5

281.62

139.57

421.19

-

Earnings Per Share (EPS)

Basic

2.030

1.990

4.020

1.990

6.010

-

Diluted*

-

-

-

-

-

-

Earnings Per Share (EPS) - continuing operations

Basic

2.030

1.990

4.020

1.990

6.010

-

Diluted*

-

-

-

-

-

-

Market price per share at period end

29.4

29.4

29.4

71.9

71.9

-

*As per BSEC Directive No. SEC/CMRRCD/2009-193/64, dated September 21, 2010.

 Company Name: Sonar Bangla Insurance Ltd. 

Trading Code: SONARBAINS

Scrip Code: 25730

 Figure in BDT

Market Information: May 11, 2021

Last Trading Price

81.10

Closing Price

81.10

Last Update

2:31 PM

Day's Range

74.40 - 81.10

Change*

7.3

Day's Value (mn)

123.61

9.89%

52 Weeks' Moving Range

30.10 - 83.70

Opening Price

74.40

Day's Volume (Nos.)

1,561,916.00

Adjusted Opening Price

73.80

Day's Trade (Nos.)

1,481

Yesterday's Closing Price

73.80

Market Capitalization (mn)

2,955.059

*Based on Yesterday's Closing Price and Last Trading Price.

Interim Financial Performance: 2020

Particulars

Unaudited / Audited

Q1

Q2

Half Yearly

Q3

9 Months
202009

Annual

Ending on

Ending on

6 Months
202006

Ending on

Ending on

202003

202006

202009

Turnover/Revenue (mn)

85.91

27.98

113.89

93.71

207.6

-

Profit from continuing operations (mn)

47.49

20.45

68.41

10.33

74.51

-

Profit for the period (mn)

47.49

20.45

68.41

10.33

74.51

-

Total Comprehensive Income for the period (mn)

47.49

20.45

68.41

10.33

74.51

-

Earnings Per Share (EPS)

Basic

1.190

0.520

1.710

0.260

1.860

-

Diluted*

-

-

-

-

-

-

Earnings Per Share (EPS) - continuing operations

Basic

1.190

0.520

1.710

0.260

1.860

-

Diluted*

-

-

-

-

-

-

Market price per share at period end

30.1

30.1

30.1

50.3

50.3

-

*As per BSEC Directive No. SEC/CMRRCD/2009-193/64, dated September 21, 2010.

 Company Name: Rupali Bank Ltd. 

Trading Code: RUPALIBANK

Scrip Code: 11107

 Figure in BDT

Market Information: May 11, 2021

Last Trading Price

26.70

Closing Price

26.70

Last Update

2:31 PM

Day's Range

24.00 - 26.70

Change*

2.4

Day's Value (mn)

8.48

9.88%

52 Weeks' Moving Range

21.90 - 33.90

Opening Price

24.30

Day's Volume (Nos.)

323,358.00

Adjusted Opening Price

24.30

Day's Trade (Nos.)

301

Yesterday's Closing Price

24.30

Market Capitalization (mn)

10,064.298

*Based on Yesterday's Closing Price and Last Trading Price.

Interim Financial Performance: 2020

Particulars

Unaudited / Audited

Q1

Q2

Half Yearly

Q3

9 Months
202009

Annual

Ending on

Ending on

6 Months
202006

Ending on

Ending on

202003

202006

202009

Turnover/Revenue (mn)

-300.35

-802.12

-1102.47

-843.41

-1945.89

-

Profit from continuing operations (mn)

91.86

60.14

152.01

54.43

206.43

-

Profit for the period (mn)

91.86

60.14

152.01

54.43

206.43

-

Total Comprehensive Income for the period (mn)

91.86

60.14

152.01

54.43

206.43

-

Earnings Per Share (EPS)

Basic

0.220

0.150

0.370

0.130

0.500

-

Diluted*

-

-

-

-

-

-

Earnings Per Share (EPS) - continuing operations

Basic

0.220

0.150

0.370

0.130

0.500

-

Diluted*

-

-

-

-

-

-

Market price per share at period end

24.5

24.4

24.4

28.7

28.7

-

*As per BSEC Directive No. SEC/CMRRCD/2009-193/64, dated September 21, 2010.

 Company Name: NRB Commercial Bank Limited 

Trading Code: NRBCBANK

Scrip Code: 11150

 Figure in BDT

Market Information: May 11, 2021

Last Trading Price

17.90

Closing Price

17.90

Last Update

2:31 PM

Day's Range

16.10 - 17.90

Change*

1.6

Day's Value (mn)

239.85

9.82%

52 Weeks' Moving Range

11.00 - 17.90

Opening Price

16.50

Day's Volume (Nos.)

13,767,011.00

Adjusted Opening Price

16.30

Day's Trade (Nos.)

4,691

Yesterday's Closing Price

16.30

Market Capitalization (mn)

11,451.027

*Based on Yesterday's Closing Price and Last Trading Price.

Interim Financial Performance: 2020

Particulars

Unaudited / Audited

Q1

Q2

Half Yearly

Q3

9 Months
202009

Annual

Ending on

Ending on

6 Months
202006

Ending on

Ending on

202003

202006

202009

202012

Turnover/Revenue (mn)

-

-

-

4.36

809.43

0

Profit from continuing operations (mn)

-

-

-

1044.6

1406.42

0

Profit for the period (mn)

-

-

-

1044.6

1406.42

0

Total Comprehensive Income for the period (mn)

-

-

-

1044.6

1406.42

0

Earnings Per Share (EPS)

Basic

-

-

-

1.793

2.414

2.370

Diluted*

-

-

-

-

-

-

Earnings Per Share (EPS) - continuing operations

Basic

-

-

-

1.793

2.414

2.370

Diluted*

-

-

-

1.487

2.002

-

Market price per share at period end

-

-

-

-

-

-

*As per BSEC Directive No. SEC/CMRRCD/2009-193/64, dated September 21, 2010.


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