• Saturday, August 02, 2014

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Bangladesh Securities And Exchange Commission

FAR Chemicals set for controversial stock debut

FAR Chemicals Industries is set to make a controversial debut on the stock market today, after the company masked market-sensitive information about its directors in the IPO prospectus -- a violation of security rules. Neither Bangladesh Securities and Exchange Commission, nor the Dhaka Stock Exchange made any attempt to block the debut. Earlier in 2012, the stock market regulator filed criminal cases against two of its directors for their involvement in forgery of rights issue of FAR Chemicals' associated firm RN...

United Airways in trouble

Private carrier United Airways (BD) Ltd may face operational suspension due to outstanding aeronautical and non-aeronautical charges of around Tk 77 crore to the Civil Aviation Authority of Bangladesh (Caab). The airlines regulator has already imposed a ban on sale or purchase of aircraft by United Airways until it clears all current and outstanding charges in the next one year. “If the airline fails to pay the charges within the scheduled timeframe, we might stop their operation anytime,” Caab Chairman Air...

Tech glitch halts DSE trade, stocks fall

A technical glitch suspended trade on the Dhaka Stock Exchange for more than two and a half hours yesterday, and the regulator asked the bourse to immediately submit a report on it. “We asked them to explain why and how the malfunction took place,” said Saifur Rahman, spokesman and an executive director of Bangladesh Securities and Exchange Commission. “They (DSE) informed us of the matter from time to time, but we sought a report from them,” added Rahman, who also visited...

Emerald Oil gets nod to list on DSE

The Dhaka Stock Exchange has approved the listing of Emerald Oil Industries that raised Tk 20 crore from public through initial public offering. The approval came at a board meeting of the premier bourse on Monday, DSE officials said. “The debut date of share trading of Emerald Oil will be announced later after completion of some listing requirements by the edible oil producing company,” said Swapan Kumar Bala, managing director of the DSE. Emerald Oil is the 19th company to list in...

Pressure on BB as it reins in banks' stock exposure

In an echo of 2009, the central bank is again facing hostility for stepping up its measures against banks' excessive exposure to the capital market. Bangladesh Bank on February 25 instructed banks to give a breakdown of daily investments in stocks in the monthly report submitted to the central bank on the 10th of every month. At present, the banks just give their total investment figure to BB, which the central bank believes does not reflect the true picture. BB found that...

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