News Briefs (06-12-2018)

Northern Jute's share price soaring sans PSI
The share price of Northern Jute Manufacturing Company is soaring without having any undisclosed price sensitive information. Within eight consecutive trading sessions, the company's share price jumped more than 47 per cent or Tk 377 each to reach at Tk 1179.40 on Wednesday. Its share price was Tk 802 on November 25, 2018. The company's share traded between Tk 245 and Tk 1198.90 each in the last one year, also hitting one year's highest price. Following the recent abnormal price hike, the Dhaka Stock Exchange (DSE) served show-cause notice on the company. The company informed the DSE on Wednesday that there was no undisclosed price sensitive information for recent unusual price hike of its shares. The Bangladesh Securities and Exchange Commission (BSEC) also formed an enquiry committee on November 20 to investigate into recent unusual movement of price and volume of shares of Northern Jute. The BSEC body will submit report within 30 working days. — FE Report

Jamal MA Naser

National Life Ins CEO to join int'l seminar
Jamal MA Naser, Chief Executive Officer (CEO) of National Life Insurance Company Limited, will join an international seminar as guest of honour to be held in Kolkata. Indian Insurance Institute, Kolkata and Insurance Institute of India will jointly organise the seminar on December 8. Mr Jamal will speak about "Based on Changing Regulatory Provision of Life Insurance Market, how to face forthcoming challenges and remain competitive". Reputed insurance specialists and actuaries will join the seminar. — Statement

Disbursement of dividend
Dragon Sweater and Spinning Limited: The company has informed that it has credited the bonus shares for the year ended on June 30, 2018 to the respective shareholders' BO Accounts on December 05, 2018.
Change of AGM date
Usmania Glass Sheet Factory Limited: The company has further informed that due to unavoidable circumstances, the 32nd AGM will now be held on December 21, 2018 instead of earlier declared date December 14, 2018. Other information of the earlier disclosure will remain unchanged.
Credit rating
Dhaka Insurance Ltd.: Credit Rating Information and Services Ltd. (CRISL) has informed that the Rating Committee of CRISL has assigned the CPA (Claim Paying Ability) rating of the company as "A+" along with a stable outlook in consideration of its audited financials up to December 31, 2017; un-audited financials up to September 30, 2018 and other relevant quantitative as well as qualitative information up to the date of rating declaration.
— DSE Online