The Insurance Development and Regulatory Authority (IDRA) has fined Eastern Insurance Company Tk 5 lakh for not having the minimum investment required in government securities as per the Insurance Act 2010.
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Stock rally carries on
Star Business Report
Star Business Report
The stock market continued to rise for a sixth day yesterday, sans the two-day weekend, while turnover almost doubled thanks to an increase in the participation of investors despite a deterioration of the coronavirus pandemic.
The DSEX, the benchmark index of Dhaka Stock Exchange (DSE), surged by 71 points, or 1.34 per cent, to stand at 5,421.78 yesterday.
Turnover, another important indicator of the market, rose 87 per cent to Tk 1,299 crore.
The scope to make easy money is the most important and biggest reason for the Bangladesh market rally, which is also common in stock markets around the world, said Md Moniruzzaman, managing director of IDLC Investments.
Beximco Pharma stocks soar on Sanofi takeover news Star Business Report Star Business Report
While investors continued to exhibit a tendency towards profit-booking, stocks of Beximco Pharmaceuticals rose 5.15 per cent to Tk 208.40 yesterday after news broke that it would buy a major stake in Sanofi Bangladesh.
The DSEX, the Dhaka Stock Exchange s (DSE) benchmark index, dropped 20 points, or 0.35 per cent, to 5,815 yesterday.
The local drug company s stock was the most sought-after of the day thanks to the firm s recent announcement that it would buy 54.6 per cent of Sanofi s Bangladesh unit in order to diversify its product base.
The remaining 45.4 per cent shares are owned by the Bangladesh government, according to a disclosure on the DSE website.