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US stocks slipped on Tuesday and the Dow snapped a 12-day streak of record closes as investors awaited Trump's speech, while a disappointing outlook from Target dragged down retailers. All three major indexes posted gains, however, for the month of February, with the S&P 500 up 3.7 per cent. The Dow Jones Industrial Average was down 25.2 points, or 0.12 per cent, to 20,812.24, the S&P 500 had lost 6.11 points, or 0.26 per cent, to 2,363.64. The Nasdaq Composite had dropped 36.46 points, or 0.62 per cent, to 5,825.44. For the month, the Dow rose 4.8 per cent and the Nasdaq gained 3.8 per cent. The S&P is up 10.5 per cent since the Nov. 8 election. Target slumped 12.2 per cent in its biggest one-day percentage drop since 2008, according to Reuters.....

Published at: 2017-03-01 00:00:06

The government is asking the transport workers on a strike to protest against the sentencing of drivers to respect court judgment amidst daylong sufferings of travellers, but there is no sign of let-up. Transport owners and workers have no clear answer to the question as to whether the strike is ending on Tuesday. Road Transport Owners' Association General Secretary Khandaker Enayetullah has said he sees no hope of the situation getting any better as the workers are still agitated. Workers' leaders have also tried to evade the liability, saying the general workers are demonstrating. "The workers cannot be calmed," Road Transport Workers' Federation Vice-President Abdul Odud Nayan has said. To make matters worse, the road transport ministry is not willing to discuss the issue with the strikers because it relates to court, reports bdnews24.com. The travellers suffered as the strike spread across the country from Khulna and Chuadanga on Tuesday morning. The bus workers in the capital also stopped services in the afternoon, leaving hundreds of thousands struggling to return home. The roads linking the districts are virtually of no use. The agitated workers are not letting any vehicle on some of the roads. The workers took to the streets when a Manikganj court sentenced a bus driver to life in prison for a 2011 accident that left celebrated filmmaker Tareque Masud, ATN News CEO Mishuk Munier and three others dead. Transport workers in Chuadanga first launched a strike. Those in 10 districts of Khulna division joined them on Sunday. The authorities sat with the striking workers in Khulna on Sunday and announced that the workers agreed to withdraw the strike. But later the workers, agitated by another verdict sentencing a truck driver to death for running over and killing a woman in Savar, denied any such agreement on withdrawing the strike action. Earlier on Monday night, the transport owners held a meeting with the workers in Dhaka, but no announcement of enforcing the strike came. Asked about the latest developments, transport owners' leader Enayetullah said on Tuesday afternoon that he sees no possibilities of an end to the workers' strike. "We've asked the workers' leaders to sit and review the situation. But it appears to me that there will be no outcome today (Tuesday)," he said. Asked who will sit and where, Enayetullah said, "Four to five of us will sit informally." He expressed willingness to discuss the issue with the government. Road Transport and Highways Secretary MAN Siddique said, "As the workers have enforced the strike against court verdicts, we have nothing to do about it. We won't talk to anyone on the matter. We are not communicating with anyone." Workers' leader Odud said the leaders had no involvement in the strike. "They (workers) did not discuss the issue with us before enforcing the strike. They have become sentimental after seeing two verdicts go against them. They cannot be controlled now. They are not listening to the leaders," he said. "We requested them to resume services. But they are not listening to us. 'You drive the vehicles, but don't tell us,' they have said," he added.....

Published at: 2017-03-01 00:00:06

President Donald Trump told Congress on Tuesday he was open to immigration reform, shifting from his harsh rhetoric on illegal immigration in a speech that offered a more restrained tone than his election campaign and first month in the White House. Trump, in a prime-time address to a country that remains divided over his leadership, emphasised his desire to focus on problems at home by boosting the US economy with tax reform, a $1 trillion infrastructure effort and an overhaul of President Barack Obama's signature healthcare law, known as Obamacare. After a first month in office dominated by a fight over his temporary travel ban on people from seven Muslim-majority nations, Trump looked for a reset to move past a chaotic period that sowed doubts about his ability to govern effectively. He called for national unity and showed a more measured tone, avoiding a repeat of his attacks on Democratic opponents and media organisations. Democratic Senator Tom Carper said that "the person who wrote this speech must not have written the inaugural address. That one was "dark" and this one was more uplifting." At his Jan 20 inauguration, Trump painted a bleak picture of the country and described it as beset with "American carnage." US stock futures advanced at the start of Trump's address, but gave back some gains later in the speech. Trump focused part of the speech on foreign policy, stressing his support for NATO but insisting allies pay more for their defense. In a possible nod to his bid to warm relations with Russia, Trump said: "America is willing to find new friends, and to forge new partnerships, where shared interests align." "We want harmony and stability, not war and conflict," said Trump, who said, however, he would embark on a big defense buildup, reports Reuters. Trump said a broad immigration reform plan was possible if both Republicans and Democrats in Congress were willing to compromise. He said US immigration should be based on a merit-based system, rather than relying on lower-skilled immigrants. Comprehensive immigration reform eluded his two predecessors because of deep divisions within Congress and among Americans over the issue. Trump said reform would raise wages and help struggling families enter the middle class. "I believe that real and positive immigration reform is possible, as long as we focus on the following goals: to improve jobs and wages for Americans, to strengthen our nation's security, and to restore respect for our laws," said the Republican president, who took a hard line against illegal immigrants in his 2016 campaign. Trump has used his early weeks in office to repeat vows to build a wall along the US-Mexico border and intensify deportations of illegal immigrants who have committed crimes. At the same time, he has expressed sympathy for children who entered the country when their parents crossed the border without proper authority, the "dreamers" who so far are protected by an order signed by Obama. 'MASSIVE TAX RELIEF' Trump voiced a need to persuade Americans to rally behind his agenda after a bitterly fought election, but he made his argument in terms of urging people to rally behind his effort for a "new chapter of American greatness." Trump said he wanted to provide "massive tax relief" to the middle class and cut corporate tax rates. But he did not offer specifics and failed to comment on the most pressing tax issue facing Congress, a proposed border adjustment tax to boost exports over imports. Lawmakers have been looking to Trump for more leadership on an issue that has divided corporate America and Republicans in Congress. Trump called on the Republican-led Congress to repeal and replace Obamacare with reforms that expand choice, increase access and lower costs. Republicans remain divided on how to accomplish that goal and Democrats are ardently opposed to tampering with a system that provides health insurance for millions of low-income Americans. Trump's comments lacked detail, but it was the first time he publicly supported tax credits, a nod to health insurers who say they are necessary to keep people in the market. Former Kentucky Governor Steve Beshear said in the Democratic response to Trump's speech that "you and your Republican allies in Congress seem determined to rip affordable health insurance away from millions of Americans who most need it." In the most emotional moment of the night, Trump singled out Carryn Owens, the widow of US Navy SEAL William "Ryan" Owens, who was killed in a raid on al Qaeda in Yemen. Owens, tears streaming down her face, clasped her hands and looked upward from her spot in the balcony as lawmakers and the president applauded her in the longest ovation of Trump's hour-long speech. Trump said the mission that her husband participated in obtained vital intelligence that could be used against Islamic militants, taking issue with news reports quoting US officials who said little was gained from the raid.  ....

Published at: 2017-03-01 00:00:06

The Linde Bangladesh has recommended 110 per cent final cash dividend for the year ended on December 31, 2016, said an official disclosure on Wednesday. However, the company declared a total of 310 per cent cash dividend for the year 2016 as 200 per cent interim cash dividend has already been paid. The dividend recommendation came at a board meeting held on Tuesday evening. The final approval of this dividend will come during the annual general meeting (AGM) scheduled to be held on May 11. The record date for entitlement of dividend is on March 28, 2017. The company has also reported earnings per share (EPS) of BDT 57.90, net asset value (NAV) per share of BDT 209.28 and net operating cash flow per share (NOCFPS) of BDT 73.18 for the year ended on December 31, 2016 as against BDT 42.74, BDT 183.04 and BDT 67.14 respectively for the same period of the previous year. Linde Bangladesh, a multinational company, has been operating gas business in Bangladesh in the last 50 years with continuous expansion in operations and business. It is a pioneer in industrial gas in Bangladesh. There will be no price limit on the trading of the shares of the company today (Wednesday) following its corporate declaration. Each share of the multinational company, which was listed on the Dhaka bourse in 1976, closed at Tk 1,282.90 on Tuesday. The company disbursed 200 per cent cash dividend the year ended on December 31, 2015. The company also disbursed 310 per cent cash dividend (110 per cent final and 200 per cent interim) for the year ended on December 31, 2014. In 2013, the company also distributed 310 per cent cash dividend. The company’s paid-up capital is Tk 152.18 million and authorised capital is also Tk 200 million, while the total number of securities is 15,218,280. The sponsor-directors own 60 per cent stake in Linde BD, while institutional investors 28.50 per cent and the general public 11.50 per cent as on January 31, 2017, the DSE data shows. -bb/rmc//....

Published at: 2017-03-01 00:00:06

The Heidelberg Cement Bangladesh has recommended 300 per cent cash dividend for the year ended on December 31, 2016, said an official disclosure on Wednesday. The dividend approval came at a board meeting held on Tuesday evening.  However, the final approval of this dividend will come during the annual general meeting (AGM) scheduled to be held on May 11 at 11am at the Factory Office in Narayangoj. The record date for entitlement of dividend is on March 28, 2017.  The multinational company has also reported earnings per share (EPS) of Tk 26.69, net asset value (NAV) per share of Tk 98.96 and net oprating cash flow per share (NOCFPS) of Tk 30.50 for the year ended on December 31, 2016 as against Tk 24.81, Tk 102.27 and Tk 34.75 respectively for the same period of the previous year. There will be no price limit on the trading of the shares of the company today (Wednesday) following its corporate declaration. Each share price of the company, which was listed on the Dhaka bourse in 1989, closed at Tk 552.20 on Tuesday at DSE. The company also disbursed 300 per cent cash dividend the year ended on December 31, 2015. In, 2014, the company disbursed 380 per cent cash dividend. The company’s paid-up capital is Tk 565 million and authorised capital is also Tk 1.0 billion, while the total number of securities is 56,503,580. The sponsor-directors own 60.67 per cent stake in Heidelberg Cement, while institutional investors 26.70 per cent, foreign investors 1.77 per cent and the general public only 10.86 per cent as on January 31, 2017, the DSE data shows. -bb/rmc//....

Published at: 2017-03-01 00:00:06