Star (September 22, 2010)
LankaBangla Securities is in the process of signing an agreement with Bloomberg to use a terminal of the news agency's site to help global investors or fund managers get an access to information on Bangladesh stockmarket.
Daily, weekly, monthly and yearly market analyses, research on listed companies, national budget analysis and other major economic data and information will be available on the Bloomberg's terminal. These will all be done and posted by LankaBangla Securities.
"So far the global investors have come to the Bangladesh market on their own. Now we are going to them," said CEO of the local company Mohammed Nasir Uddin Chowdhury.
"Our initiative will help attract more foreign investments," he said. The portfolio investment has been declining since the recent global recession, but is going up now, Chowdhury added.
Currently, on the Dhaka Stock Exchange, foreign transactions account for less than one percent of the total market capitalisation.
Chowdhury said they have received all regulatory approvals to make the deal. "It will be a two-year contract."
Bloomberg provides updated business news and financial information including stockmarket data.
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