...On “Monetary Policy of Bangladesh” Course Code: Course Title: Macro Economics Submitted to: Submitted by: Date of submission: 15 August, 2012 Table of Contents |Titles |Page Number | |Table of Contents |02 | |Introduction |03 | |Definition of Monetary policy |03 | |Importance of Monetary Policy |03 | |Type of Monetary Policy |04 | |Tools to implement the monetary policy |04 | |Bodies of Monetary Policy |05 | |Monetary Policy in Bangladesh |05 | |Instruments of Monetary policy in BD...
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...Executive summary As a course requirement for course, Commercial Bank Management F-402 the report is on a “Analysis of Credit Risk Grading of Navana CNG Ltd.””, which is assigned to us by our honorable course instructor, Md. Sajib Hossain, Lecturer, Department of Finance, University of Dhaka. We were assigned by our honorable course instructor to collect data of our country’s foreign trade, export and import, top five imported goods, top five exported goods, top five import and export destination and trade of balance from the year 1990 to the year 2012, as per instruction we have collected the data from Bangladesh bank library. In this report we have included the yearly export and import which indicates the total amount of import and export of the country per year. And from those import and export payment receipts we have calculated the trade balance which is the result of the difference between the payment of import and export receipts. We have found out the major import and export goods to understand the foreign trade composition. Among them we have specifies the top five goods that are imported for the consumption and top five goods that are exported to other foreign nations to utilize the excess supply. We have also outlined the top five export destinations and top 5 import destinations to figure out the performance of foreign trade. From the analysis we have found out that our most preferred export countries are USA, Germany, UK, France and Japan. And preferred import...
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...215-233. Arcand, J., Berkes, E., Panizza, U. (2012), Too Much Finance? International Monetary Fund.Research Department. Asteriou, D., & Monastiriotis, V. (2004). What do unions do at the large scale? Macro-economic evidence from a panel of OECD countries. Journal of Applied Economics, VII(I), pp. 27-46. Arellano, M. (2003): Panel Data Econometrics, Oxford University Press. Arellano, M., and O. Bover. (1995). Another Look at The Instrumental Variable Estimation of Error- Components Models. Journal of Econometrics, 68, 29-52. Arellano, M., & Bond, S. R. (1991). Some tests of specification for panel data: Monte Carlo evidence and an application to employment equations. The Review of Economic Studies (new York), 58, 194, 277- 297. Blundell, R., & Bond, S. (1998). Initial conditions and moment restrictions in dynamic panel data models. Journal of Econometrics, 87, 1, 115-143. Baltagi, B. (2008). Econometric analysis of panel data, John Wiley and Sons, Chichester. Baltagi, Gri, and Xiong (2000). To Pool or Not To Pool: Homogeneous Versus Heterogeneous Estimators Applied to Cigarette Demand. Review of Economics and Statistics 82: 117. Barro, R.J. (1991). Economic Growth in a Cross Section of Countries. Homepage of National Bureau of Economic Research (online). Beck, T., (2008). The Econometrics of Finance and Growth, Palgrave Handbook of Econometrics, Vol. 2. Beck, T., Levine, R. and World Bank. Financial Sector Strategy and Policy Group (2000). New firm formation and industry...
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...1.1 ORIGIN OF THE TERM PAPER This term paper has been made as a part of our course Security Analysis and Portfolio Management (Course code # 4242), Mrs. Jafrin Sultana has assigned us this term paper in order to gain some practical knowledge about how to conclude on investment decision and analysis on the basis of various valuation approaches. The perspective of such a term paper is to make us familiar with the key factors of security market that affect the users in decision making. For this purpose we have used the annual reports of Bangladesh lamps ltd, and try to analyze and understand the overall capital market components according to our best effort. 1.2 OBJECTIVES OF TERM PAPER This term paper is based on “financial analysis & stock valuation of Bangladesh lamps ltd”. The objective of this term paper is to provide present situation of the Bangladesh lamps ltd, corporate structure, industry performance, stock valuation, SWOT analysis, ratio and risk analysis and financial statement analysis of the company. More precisely we can identify the objective of this report as follows: * To provide the overall industry performance within our selected industry * To acquire experience of a real organization to supplement theoretical knowledge. * To know about how the academic issues taught in our educational institutions come to practical ground in an organization. * To get familiar with the organizational structure and financial aspect of our selected...
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...FIN 254 Part 1: Introduction and Methodology INTRODUCTION OF HEIDELBERG CEMENT BANGLADESH: Heidelberg Cement Bangladesh is one the largest producers of quality cement in Bangladesh. Heidelberg Cement Group from Germany, one of the world’s leaders in construction and building material with operations in more than 50 countries, owns 61% shares of the company. In 1998 Heidelberg Cement Group established its presence in Bangladesh by setting up a floating terminal with on board bagging facilities in the port of Chittagong and by distributing the cement to the key markets of Dhaka and Chittagong. In 1999 the group further strengthened its position in Bangladesh and built a greenfield manufacturing plant near Dhaka namely “Scancement International Limited” with an installed capacity of 0.750 million tons per year. In 2000 Heidelberg Cement group also bought a minority position in Chittagong based company namely “Chittagong Cement Clinker Griding Co. Limited (CCCGCL)” quickly followed by the acquisition of a in controlling stake. The plant in Chittagong has an installed capacity of 0.7 million ton per year. In 2003, the two companies were amalgamated and the company’s name was changed to Heidelberg Cement Bangladesh Limited. OVERVIEW OF HEIDELBERG CEMENT BANGLADESH LTD. Heidelberg Cement Bangladesh Limited meets 13% of the Bangladesh demand for cement from two plants located at Dhaka & Chittagong. The company with 1.5 million tones annual cement production has become a major...
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...IJAR-BAE (July 2012) www.setscholars.org/index.php/ijarbae Full Length Opinion Paper IJAR-BAE ISSN: 1839-8456 Vol. 01. Issue 03. Article No. 05 International Journal of Applied Research in BUSINESS ADMINISTRATION & ECONOMICS Identifying the Critical Issues of Stock Market: A Study on Dhaka Stock Exchange (DSE) Md. Moniruzzaman Sarker1*, Nusrat Nargis2* 1 2 Senior Lecturer, School of Business & Economics, United International University, Bangladesh. Senior Lecturer, Department of Business Administration, Daffodil International University, Bangladesh. *Corresponding author’s email: mrajib.sarker@gmail.com, mishu_fin@yahoo.com Article History Received: 19-05-2012 Accepted: 13-06-2012 Available online: 31-07-2012 ABSTRACT Bangladeshi Stock Market has experienced a big crash twice from its inception. In 1996, the market was crashed because of speculative bubble whereas; it was an asset bubble in the year 2011. The stock price was overvalued this time. Price was inflated about 500-700 percent compare to the face value. DGEN Index climbed at point 8918.51 on December 05, 2010 which signaled a steeper bubble. Our study postulates the present scenario of Bangladesh Stock Market through various quantitative and qualitative data which are extracted from the secondary sources. Quantitative data are gathered from the web site of Dhaka Stock Exchange and other qualitative data are collected from published research journals, newspapers, websites etc. This study has revealed...
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...Overview of cement industry in Bangladesh Size In 2002, there were 70 cement organizations in operation in Bangladesh, though in 2008 therewere 34. This combination is prone to proceed. In Bangladesh, there are around 55 cement assembling organizations, the vast majority of which are in operations either on a substantial or little scale. Atotal of 34, including multinational cement makers, are in business production.Among nearby brands, Shah Cement, Meghna Cement, Crown Cement, Fresh Cement, Premier Cement and Seven Circle Cement are understood over the country.The five multinational cement organizations in operation are Holcim, Heidelberg, Lafarge Surma,Cemex and Emirates. Growth Bangladesh cement industry showcase on the planet. In spite of the late worldwide economic upheavals, the Bangladesh economy proceeds with its enduring walk with development in abundance of 6% in the course of recent years. Right now limit of the business speaks the truth 20 million tons. Top10 players are distant from everyone else controlling more than 70 % of the aggregate business limit. The business is growing at the rate of 20-25% in the late years. Per capita utilization is 65 kg (FY2009) while India and Pakistan, our two neighbors, have per capita utilization of 135kg and 130kg individually. This demonstrates huge degree for development in the Bangladesh cement industry in the long term. The estimating of cement of different players in the business are near to each other. Currently, the...
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...Table of Contents Introduction 1 The reasons behind choosing Bangladesh 2 While entering problems faced by Banglalink 4 Industry analysis 5 Operational obstacles faced by the company 8 Entry Strategy 8 Internationalization strategy pursued by the company 10 Possible Strategy Overview 10 Current Environment 11 Conclusion 12 Reference 12 Introduction Today, telecommunication is one of the major parts of life. Nowadays, the phone is not only used for making calls, among many other functions it’s used for communicating through text-messages and so called multi-media messages, as well as to connect us to the internet. The opportunities that lie in the telecom market seem endless and the growing demand for mobile telephony systems is creating a world-wide market. The telecom industry is nowadays not only by means of millions, but by means of billions. Actors in this industry are seeking the most profitable markets throughout the world. Currently there are 6 mobile operators in Bangladesh and Banglalink is one of them. With a slogan of “making it difference”- banglalink started operations in February 2005. Previously, it was known as Sheba Telecom Pvt. Ltd that had been providing GSM (global system of mobile communication) services in Bangladesh since 1998. Orascom Telecom bought 100% share of Sheba Telecom in 2004 and gave its new name as Banglalink. Banglalink, is the second largest cellular service...
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...989-4258 Others 881-6467 & 881-5101 Fax (880-2): 882-5135 E-mails: (i) sfaco@citechco.net (ii) sfaco@sfahmedco.org Website: www.sfahmedco.org Auditors’ Report to the Shareholders of AB Bank Limited We have audited the accompanying consolidated financial statements of AB Bank Limited (“the Bank”) and its subsidiaries, namely, AB Investment Limited, AB Securities Limited, Cashlink Bangladesh Limited, AB International Finance Limited and AB Exchange (UK) Limited which comprise Consolidated Balance Sheet at 31 December 2011 and Consolidated Profit and Loss Statement, Consolidated Cash Flow Statement, Consolidated Statement of Changes in Equity and Liquidity Statement for the year then ended, and a summary of significant accounting policies and other explanatory information. Management is responsible for the preparation and fair presentation of these financial statements in accordance with Bangladesh Financial Reporting Standards, and for such internal control as management considers necessary to enable the preparation of consolidated financial statements that are free from material misstatement, whether due to fraud and error. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with Bangladesh Standards on Auditing. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain a reasonable assurance about whether the financial statements are free...
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...Education and Income Inequality: A Meta-Regression Analysis Abdul Jabbar Abdullah* Hristos Doucouliagos Elizabeth Manning - FIRST DRAFT - Please do not quote without permission from the authors September 2011 Abstract This paper revisits the literature that investigates the effects of education on inequality. Specifically, the paper provides a comprehensive quantitative review of the extant econometrics literature through a meta-regression analysis of 64 empirical studies that collectively report 868 estimates of the effects of education on inequality. We find that education affects the two tails of the distribution of incomes; it reduces the income share of top earners and increases the share of the bottom earners, but has no effect on the share of the middle class. Inequality in education widens income inequality. Education has a larger negative effect on inequality in Africa. The heterogeneity in reported estimates can be largely explained by differences in the specification of the econometric model. JEL Codes: I24, C01 Keywords: Education, inequality, meta-regression analysis Number of words: 12,683 * Corresponding author. Abdullah: Universiti Teknologi Mara Sarawak Campus, Malaysia and PhD Candidate Deakin University, ajabd@deakin.edu.au Doucouliagos: School of Accounting, Economic and Finance, Deakin University, douc@deakin.edu.au Manning: School of Accounting, Economic and Finance, Deakin University, elizabem@deakin.edu.au 1 Education and Income...
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...Part Three Answers to End-of-Chapter Problems Chapter 1 ANSWERS TO QUESTIONS 1. THE INTEREST RATE ON THREE-MONTH TREASURY BILLS FLUCTUATES MORE THAN THE OTHER INTEREST RATES AND IS LOWER ON AVERAGE. THE INTEREST RATE ON BAA CORPORATE BONDS IS HIGHER ON AVERAGE THAN THE OTHER INTEREST RATES. 2. The lower price for a firm’s shares means that it can raise a smaller amount of funds, so investment in facilities and equipment will fall. 3. Higher stock prices mean that consumers’ wealth is higher, and they will be more likely to increase their spending. 4. They channel funds from people who do not have a productive use for them to people who do, thereby resulting in higher economic efficiency. 5. The United States economy was hit by the worst financial crisis since the Great Depression. Defaults in subprime residential mortgages led to major losses in financial institutions, producing not only numerous bank failures, but also the demise of two of the largest investment banks in the United States. These factors led to the “Great Recession” which began late in 2007. 6. The basic activity of banks is to accept deposits and make loans. 7. Savings and loan associations, mutual savings banks, credit unions, insurance companies, mutual funds, pension funds, and finance companies. 8. Answers will vary. 9. In the period from 2007 to 2011, both inflation and interest rates have generally trended downward compared to before...
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...PART THREE Answers to End-of-Chapter Problems Copyright © 2013 Pearson Addison-Wesley. All rights reserved. Chapter 1 ANSWERS TO QUESTIONS 1. The interest rate on three-month Treasury bills fluctuates more than the other interest rates and is lower on average. The interest rate on Baa corporate bonds is higher on average than the other interest rates. 2. The lower price for a firm’s shares means that it can raise a smaller amount of funds, so investment in facilities and equipment will fall. 3. Higher stock prices mean that consumers’ wealth is higher, and they will be more likely to increase their spending. 4. They channel funds from people who do not have a productive use for them to people who do, thereby resulting in higher economic efficiency. 5. The United States economy was hit by the worst financial crisis since the Great Depression. Defaults in subprime residential mortgages led to major losses in financial institutions, producing not only numerous bank failures, but also the demise of two of the largest investment banks in the United States. These factors led to the “Great Recession” which began late in 2007. 6. The basic activity of banks is to accept deposits and make loans. 7. Savings and loan associations, mutual savings banks, credit unions, insurance companies, mutual funds, pension funds, and finance companies. 8. Answers will vary. 9. In the period from 2007 to 2011, both inflation and interest rates have generally trended downward compared to before that...
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...Budget 2013-14: To defend or not to defend Published : Tuesday, 11 June 2013 Mahfuz Kabir Budget 2013-14 has been placed in Parliament for discussion, not for debate per se. At the backdrop of less than projected GDP (gross domestic product) growth, low private investment, low private consumption and less vibration in the domestic economy, there is no hype for the Finance Minister to present something from a 'magic lamp'. The size of the budget with an outlay of Tk 2.22 trillion, although 16 per cent bigger in scale compared to the previous one, is not necessarily a big jump. Can we call this budget overambitious? Perhaps not, because the economy could reach close to the target if the unprecedented violence and shutdowns by political masterminds did not jeopardise the economic potential from the outset of this calendar year. Nevertheless, the fact that growth could cross the 6 per cent mark is no mean achievement. Now the budget's big public investment plan of Tk.722 billion can be seen as a positive instrument for economic expansion in the next fiscal year to tap the unrealised potentials for attracting more private investment. The revenue target of Tk. 1.74 trillion, a point-to-point growth of 20 per cent, seems to be a bit unrealistic even though NBR has performed well in the recent past by well-achieving the successive targets. Nevertheless, this year the NBR went through considerable stress in attaining target because of lower economic mobility, particularly in the second...
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...Muhammad Abu Noyeem (1101567) Research and Critical Skills in Environmental Sciences (IE 5511) Research Proposal Research Title: Regional Poverty Disparity in Bangladesh for Climate Change Author: Muhammad Abu Noyeem Abstract Whilst Bangladesh is considered one of the most climates affected and vulnerable country in the world has made commendable progress in poverty reduction. But the proportion of poverty reduction is not equal everywhere in the country, particularly the coastal regions - having vicinity to the Bay of Bengal differs from the rest of the country in terms of highest vulnerability for climatic change impacts and highest poverty levels as well. It is predicted that frequent extreme events in coastal regions are the main impediment to attain national poverty levels. This research proposal aim is to establish a relationship between climate change impacts and change in poverty disparity by comparing coastal areas with other regions in Bangladesh over the last 20 years. The study will be based on year-wise comparative data analysis regarding affected areas, damages, development activities, socio-economic variables and poverty levels since 1991 to 2011. This research hypothetically foresees that higher extreme events affect and much damage will be created higher poverty gaps and disparity in coastal areas than the other parts of the country. Keywords: climate change, poverty disparity, coastal areas, Bangladesh. Proposed Supervisor: Dr. Ariana Zeka Lecturer...
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...Inherent Risks Author Author Affiliation Introduction Elders limited is an Australian agribusiness company founded in 1839. It deals in the supply of material, monetary and consultative inputs and marketing options to help Australian producers in addition to access to global markets. Inherent Risks 1. Inherent Risk - Going concern Elders Limited, in its 2012 financial statements highlights, the company’s intentions to focus on its core business, rural business and sell off other entities including Futuris Automotive. Elders Limited financial statements have been prepared with the assumption that the company will continue as a going concern. The company’s reliance on acquiring financing and the achievement of planned asset sales results in material uncertainty acknowledged by directors (White, 2012). Elders plan to proceed as a going concern and meet their objectives as and when they fall due (Sprague, 2013). The majority of Elders limited business operations are at risk of economic and marketing fluctuations, particularly due to the recent global recession (Elders Financial Statement, 2013). The auditing focus will be to consider whether an entity possess the ability to proceed with operations for the foreseeable future, given the circumstances of the business and the environment in which it operates (SAS 130, Para 8). Potential misstatements Management may be compelled not disclose all relevant facts pertaining to the entity. This...
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