The New Nation - Internet Edition

Staff Reporter

The Vegetables price has come down from the last week, yet discomfort continues in the hearts of consumers. 'But why' was a question to a lady who goes to markets at times? She said, "When the rice, the coarse flour and the edible oil price are showing unabated upward drift, how do you think that we can live in comfort? We are really tired of price beyond economics index."

At present, one kilogram of coarse flour sells at taka 38, almost double than that in January this year. "We used to include bread in our breakfast menu but following the abnormal rise of price we have abandoned our long time practice," said the lady with sigh. After several weeks' stability, the price of every kind of rice has increased.

Coarse rice now sells at taka 24 to 26, the miniket variety at taka 32 to 34 and the nazirail variety at taka 33 to 42. A rice retailer said, "We used to sell coarse rice between taka 16 and 18 in January, the miniket variety between taka 24 to 26 and the nizairsail variety between taka 22 and 25. At that time, we were interrogated a little but now we have to face a lot of questions from the consumers. Most of the time we remain silent because there is no answer with us."

A government employee said on condition of his name not to be disclosed, "The cost of living has increased, but our income has remain fixed. In this backdrop, we are really puzzled."

The edible oil price has further leaped. The two-liter can of Rupchanda and Teer brand soyabean oil sell at taka 185 each much to the dismay of consumers. It was taka 58 per liter in January. The reason is beyond explication except that the importers have reportedly been following go-slow policy in retiring the bill of exchange. "In truth, it appears to me that the Ministry of Commerce is unable to understand the meaning of the market economy. This may be one of the reasons that no appropriate measure has yet been taken to build up a counter market force.

On Thursday morning while going to Shaymoli by bus, a fish retailer said, "I earn taka about 200 daily if I can trade. But I have to go without job at least 10 days a month because of certain factors. It means that I am to meet 30 days' expenditure with 20 days' income and thereby toil to survive with my family of four."

However, the vegetables price has come down. On Friday morning at both Khilgaon and Khilgaon Taltola markets, the price of some of the items was as under per kilo:

Green pepper taka 50 to 60, potato taka 22 to 23, brinjal taka 30 to 36, papaw taka 10, cucumber taka 20, tomato taka 60, purbal taka 16 to 20, palk 24, calery taka 30, ladies finger taka 24, french (barboti) 28, bean taka 24 and karella taka 28.

Of the grocery items, onion still sells at taka 60, garlic at taka 48 and ginger at taka 60.

As for meat price per kilo, beef sells at taka 170 to 180, mutton at taka 220 to 240, fowl at (farm) taka 95, fowl (Pakistani) at taka 120 and fowl (local) at taka 250. Egg by four at v(local) 20, egg (farm) at 18 and egg (duck) at taka 22.

Meanwhile, the river shad price has gone up by taka 20 to 30 per kilo, said a seller.

Staff Reporter

Bull sustained its supremacy over bear in the Dhaka Index during last trading week, closing on Thursday. All three Index lists in Dhaka Stock Exchange (DSE) showed significant growth, successfully overcoming previous week's bearish drive. Among others, the DSE General Index was the utmost gainer, added 103.83 points, that is 3.66% growth from the week opening 2836.32 points mark.

However, experts related to the Share business predicted a slower beginning in coming week (starting from 10th November) but no major sellout trend was forecast.

"As far our analysis, DSE will remain in the greenish side in the next week as well, but it could start with a slide fall," said ATM Shafiq Ahmed, market expert and Assistant CMSD Officer of Dhaka Bank Limited, while talking to the New Nation.

According to him, shares of various Banking and Financial sectors showed paramount gain during last trading week. Following the trend, other companies also showed moderate gain in their accounts, he stated. "Upcoming dividend announcements in many banks and insurance companies as well as the present socio-economical conditions in the country are the major driving force behind this growth," Shafiq Ahmed explained present market situation.

However, at present, not only the old and larger investors are involved in business in the market, but ongoing share market returns have attracted many new and smaller investors. "Considering growing consistency in the equity business, bullish trend is likely to sustain in coming week as well," expert of CMSD- Dhaka Bank foretell.

However, Index levels of all three categories remained almost in the green zone throughout all four trading days, during last week. DSE General Index opened trading week with 2836.32 points and closed at 2940.15 points mark.

On the other hand, DSE 20 Index gained total 57.55 points, closing the week at 2252.21 points. The Index was over 2.62% at its closing time from the week opening 2194.66 points.

Total 3.40% growth was also witnessed in the DSE All Share Price Index, while it closed at 2494.01 points at the end of trading week. The Index opened business with 2411.8 points level and successfully closed with a net gain of 82.03 points.

At the end of this week on Thursday (8th November 2007) total 4.81 crore shares of 279 companies were traded throughout the week, with a value of Tk 855.07 crore. In a week time, total turnover decreased by 39.48% as reported.

However, the DSE opened with total Tk 69401.84 crore Market Capitalization and closed the trading week with Tk 71344.07 crore. The closing figure was 2.80% higher than the opening one.

The German Investment and Development Company extended Long Term Loan of US$ 7.5 million to Esquire Knit Composite Ltd., a member of Esquire Group for its expansion project of knit composite unit located at Kanchpur, Sonargaon, Narayanganj.

Eastern Bank Ltd has arranged term loan facility of US$ 7.50 million form DEG and term loan syndication facility of BDT 210 million form EBL and DBBL for Esquire Knit Composite Ltd. (EKCL). The agreements to this effect have been signed in a ceremony held at The Westin, Dhaka recently.

Md. Mofazzal Hossain Chairman, Esquire Group, Ehsanul Habib Managing Director Esquire Knit Composite, Ms. Natmol Mahapantz, Investment Manager DEG, Md. Yeasin Ali, MD DBBL and Ali Reza Tftekhar MD EBL were present on the signing ceremony.

EKCL Managing Director Ehsanul Habib and Ms. Natmol Mahapantz, Investment Manager DEG, signed an agreement in this connection on behalf of their respective organizations. A Taka facility agreement for BDT 210 Million was also signed by EKCL MD Ehsanul Habib, EBL MD Ali Reza Iftekhar and DBBL AMD AHM Nazmul Quadir.

"Esquire Group ahs been successfully doing its business for last three decades", says Md Mofazzal Hossain, Chairman of Esquire Group. "We have always valued the support and cooperation we have received from banking community. We thank you for once again extending confidence onus. We strongly believe we can reciprocate the honor."

Speaking at the occasion, Ehsanul Habibu, MD of EKCL said "EKCL believes in generating quality profit, profit that adds value to the national economy without causing harm to the environment.

"Esquire Group is one of our top clients and we are happy to be a partner in its progress," said Ali Reza Iftekhar, Md and CEO of EBL, and Md Yeasin Ali, MD, DBBL. Ms. Natmol Mahapantz, Investment Manager, DEG also spoke in the occasion.

The Managers' Conference of Chittagong Division Branches of United Commercial Bank Ltd was held on 05th November, 2007 at UCB Zonal Office, Chittagong with AKM Kamal Uddin, Deputy managing Director in the chair attended by Branch Incumbents of Chittagong Division and senior executives of Head Office.

The conference reviewed the activities and achievements of the branches and expressed commitment to continue concerted efforts for increasing the volume of business, deposit and profit during the coming months to achieve targets for 2007 and face the existing challenges in the banking sector. Md Ruhul Amin, Executive Vice President, Md. Nurul Alam, Sr Vice President, Zonal Office and Abu Sadeque Miah, Vice President spoke on the occasion highlighting operational activities and measures to be taken at the branch level for widening the business maintaining the process effectively.