Business News

DSE turnover falls sharply

Turnover at Dhaka Stock Exchange has fallen to a 12-month low. Continuing the downward trend of last week, the countryt's prime bourse closed at Tk 11.54 billion on Sunday, 7.53 percent lower than the previous session.
However, the key market index DGEN advanced by 16.86 points and stood at 6670.16.

Market graph showed bumpy ride trading throughout the session, peaking at 6686.17 points and dipping at 6631.12.
Over 51 percent of all the issues traded on the day advanced while 46 percent declined.
In the banking sector over 65 percent issues slipped and only 10 managed to gain.
Most of the major players of the energy sector declined except Titas Gas, which rose by 0.16 percent to close at Tk 1093.75.
Bellwether Beximco topped the trading table with shares worth Tk 1106.28 million changing hands.
The issue advanced by 2.92 percent to close at Tk 323.50.
Sole telecom issue in the capital market, Grameen Phone slipped by 0.62 percent and closed at Tk 256.20.
NAVANA CNG
DSE also decided on Sunday to place Navana CNG Limited in "A" category from "N" category, which will be effective from Aug 30, as the company reported disbursement of cash dividend of 10 percent and stock dividend of 20 percent.
-bdnews

Minimum fitra Tk 45

In a span of three days, the Islamic Foundation has fixed this year's fitra at Tk 100 and Tk 45 per head creating confusion among people.
At a meeting yesterday, Islamic Foundation fixed the minimum fitra at Tk 45. Earlier on Thursday, it fixed the fitra at Tk 100 per head in another meeting of the foundation.
In earlier years, there was only one minimum fitra. It was Tk 40 per head in 2009 and Tk 66 in 2008.
Nizam Uddin, public relations officer of Islamic Foundation, told The Daily Star fitra fixed at Tk 100 is equal to the market price of 3.3 kgs of rice while Tk 45 is equal to the market price of 1.65 kgs of wheat.
“The fitra was not re-fixed in today's [yesterday] meeting. Only a minimum fitra was set at Tk 45. Both Tk 45 and Tk 100 can be given as fitra as the amounts are correct according to the Shariah,” he said.
An official of Islamic Foundation, requesting anonymity, said the minimum fitra was set at Tk 45 in yesterday's meeting amid controversies over the earlier fixed fitra of Tk 100.
Several religious scholars protested against the earlier set fitra of Tk 100 saying it was unjust. They demanded fixing the fitra at Tk 45, the official added.
Fitra is Wajib (mandatory) and should be paid to the needy for all members of the family before the prayers of Eid-ul-Fitr.
-Daily Star

Eid shopping gets momentum

The shopping for Eid-ul-Fitr festival has started gaining momentum as people of different ages thronged the city's shopping malls to buy panjabis, dresses and other necessary items for their near and dear ones for celebrating the biggest occasion in the country with joy and gaiety.
With the advent of the Eid-ul-Fitr, city's customers especially women in good number thronged the Mouchck market, Anarkoli market, Concrod Twin Tower, Eastern Plaza, Gulistan Maket, Pir Yemeni Market, New Market, Gausia Market, Rapa Plaza and Bashundhara Shopping mall for buying dresses for their family members to avoid last moments of rush.

The traders in different shopping malls in the city are keeping their businesses open till mid night as growing number of customers are turning up after the iftar.
Punjabi, is traditional and most common attire for men of different ages and professions is a vital item. Without a punjabi and pajama many could not think of complete pleasure on the Eid day.
The varieties of different colours and designs of punjabis are being made of adicotton, pure cotton, khadi, Rajshahi silk, reshmi cotton, jute cotton and bexicotton fabrics have been selling in the markets as those have a high demand among the customers.
The prices of punjabis with hand stitched embroidery varied on their qualities and designs. The prices of locally made punjabis were sold between Tk 500 and Tk 7,000 each at different shopping malls in the city.
Many fashion houses like Anjan, Nitya Upuhar are selling exclusive designed punjabis.
However, in the makeshift shops, per punjabi is selling between Tk 150 and Tk 450 yesterday, according to traders.
"The collections of punjabis at different markets are sufficient, but those prices are too high compared with the last year's price. Finally, after visiting three markets, I managed to buy two punjabis for my family members" Ferdous Ara, a banker told the correspondent.
This year, the prices of different varieties of punjabis are a little bit high since the prices of yarn and other raw materials for producing cotton went up high compared with the previous years, traders asserted.
But despite this, the demand of punjabi this year goes high compared with the previous years. Different garment factories and fashion houses have been working relentlessly to meet the growing demand of punjabis.
This year approximately 3.5 crore punjabis are expected to be sold through out the country since locally made punjabis have a high demand to the customers, manufacturers told The New Nation yesterday.
Considering the growing demand, garment factories and different fashion houses in the country have increased their production to mitigate customers demand.
Sharif and Rupali Markets, located at Sadarghat area, are the biggest wholesale punjabi markets in the country.
The best quality locally made punjabi is between Tk 2,500 and Tk 3000 each. Shops in different shopping malls imported panjabi from neighbouring countries and sold between Tk 5,000 and Tk 7,000 each, traders said.
The wholesalers at Sadarghat said, they made punjabis by their own capacity and designers help in completing the design of punjabis.
On the other hand fashion houses like Arang, Anjans, Mantra and Probartana and others make panjabi through their appointed weavers and designers.
Different types of punjabi with embroidery, block print and manually designs were sold between Tk 1,500 and Tk 8,000 each.
On the other hand, cotton panjabis with simple design was sold between Tk 600 and Tk 1,500 each at Aesha Shopping Complex and Mouchack Market at Malibagh in the city yesterday.
Asked whether the prices would increase before the Eid, traders said, the prices of panjabi and other dresses would increase a little bit when the public and private service holders get their salaries and bonuses before the Eid.