Stocks in Bangladesh plummeted to a four-year low yesterday, just a day after the stock market regulator formed an inquiry committee to investigate the reasons behind the market’s sharp decline.
Unlike other companies in Bangladesh, banks and non-bank financial institutions have not been fully adhering to the International Financial Reporting Standards (IFRS), so the real scenario of the financial sector is hidden from public view.
The stock market index has been on a downward trajectory for the past two months, as a brief surge following the August political changeover quickly fizzled out.
Alleged discrepancies in financial records and subsequent board restructuring and non-payment of dividends to investors over the past five years have done little to dissuade Uttara Finance and Investments from going for lavish expenditures this year.
After a long time, foreign investors are showing renewed interest in buying shares of listed companies in Bangladesh as they hope good governance will return to the local stock market following the recent political changeover.
Bangladesh could increase its output in the manufacturing, service and farming sectors by up to 29 percent simply by bringing more women into the workforce, according to the World Bank.
The Washington-based multilateral lender’s Business Ready (B-Ready) report, which was released yesterday, also places Bangladesh in the fourth tier of five stages for public service delivery, indicating weaker performance in this area too
The Bangladesh Securities and Exchange Commission (BSEC) has alleged that manipulators were fuelling protests against the regulator to prevent it from taking a stand against corruption and reforming the stock market.
Stocks in Bangladesh plummeted to a four-year low yesterday, just a day after the stock market regulator formed an inquiry committee to investigate the reasons behind the market’s sharp decline.
The stock market index has been on a downward trajectory for the past two months, as a brief surge following the August political changeover quickly fizzled out.
Unlike other companies in Bangladesh, banks and non-bank financial institutions have not been fully adhering to the International Financial Reporting Standards (IFRS), so the real scenario of the financial sector is hidden from public view.
Alleged discrepancies in financial records and subsequent board restructuring and non-payment of dividends to investors over the past five years have done little to dissuade Uttara Finance and Investments from going for lavish expenditures this year.
After a long time, foreign investors are showing renewed interest in buying shares of listed companies in Bangladesh as they hope good governance will return to the local stock market following the recent political changeover.
Bangladesh could increase its output in the manufacturing, service and farming sectors by up to 29 percent simply by bringing more women into the workforce, according to the World Bank.
The Washington-based multilateral lender’s Business Ready (B-Ready) report, which was released yesterday, also places Bangladesh in the fourth tier of five stages for public service delivery, indicating weaker performance in this area too
The Bangladesh Securities and Exchange Commission (BSEC) has alleged that manipulators were fuelling protests against the regulator to prevent it from taking a stand against corruption and reforming the stock market.
Bangladesh can join hands with Malaysia to develop a sector that caters to global semiconductor industries, which can play a vital role in increasing export earnings, said Shabbir A Khan, president of the Bangladesh-Malaysia Chamber of Commerce and Industry (BMCCI).
Over the past 15 years, the country’s economy presented a number of marvels, including over 6 percent growth on an average per annum. But, its stock market showed a sharp contrast: sluggish, dry and in decline.