TT-Clean: 77.1 | TK BC-Selling: 78.1
TK OD-Sight: 76.88 TK | TC-Selling: 78.1 TK

TT-Clean: 77.1 | TK BC-Selling: 78.1
TK OD-Sight: 76.88 TK | TC-Selling: 78.1 TK


TT-Clean: 77.1 | TK BC-Selling: 78.1
TK OD-Sight: 76.88 TK | TC-Selling: 78.1 TK

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Rate last updated: 02/01/2014 11:15:04 AM

Daily Business News Flash April 07, 2022

ADB forecasts 6.9pc GDP growth for FY 2021-22

Bangladesh’s GDP is expected to grow 6.9 per cent in fiscal year 2021-22, according to the Asian Development Bank (ADB).The growth forecast reflects a rebound in external trade and recovery in domestic economic activities fueled by the implementation of stimulus packages and increased remittance, the Manila-based bank said in the Asian Development Outlook 2022 (ADO 2022) released on Wednesday. Inflation is expected to increase to 6 per cent in FY2022 from 5.6 per cent in 2021 as price pressures are increasing from global food and fuel prices along with the implementation of stimulus measures, according to the report.The current account deficit is also likely to widen from 0.9 per cent of the GDP in FY21 to 2.7 per cent in FY22 on the back of an increase in imports and a decline in remittance growth.

The main risk to this growth projection is higher prices for oil and imports, and the loss of export sales beyond those built in the present forecasts, mainly due to the Russian invasion of Ukraine, the ADB said. The report stated that the ongoing socio-economic recovery needs to be accelerated by enhancing domestic resource mobilization, incentivizing the private sector to create products and services, promoting modern green technologies, and fostering knowledge and innovation. Building climate resilient infrastructure and services, introducing carbon tax on fossil fuels, and promoting green investments will help to further advance the current policy initiatives for managing climate change for inclusive and sustainable green growth.

Source: https://thefinancialexpress.com.bd/economy/adb-forecasts-69pc-gdp-growth-for-fy-2021-22-1649223653

Walton expands global footprint

Walton Hi-Tech Industries PLC has won the bid to acquire three European brands and the trademark and branding rights in 57 countries, seeing off two renowned companies. With this, the local electronics giant will become the first Bangladeshi company to buy any European brand. The three brands are ACC, Zanussi Elettromeccanica (ZEM) and Verdichter (VOE).Walton will also get research and development as well as intellectual property rights for winning the contract from Italia Wanbao-ACC of Italy.It will buy a fully automated inverter and non-inverter compatible compressor line with a capacity of 32 lakh units per year, taking its manufacturing capacity to 48 lakh units,

This will result in establishing a significant market share in Europe and other markets. Shares of Walton edged up 0.10 per cent to Tk 1,081. The board has unanimously approved the procurement plan and has also decided to open a subsidiary company, branch or liaison office in Europe and the US. Walton will use ACC and two other brands from next week to market ACs, freezes, washing machines and other appliances in all 57 countries, said Golam Murshed, managing director and chief executive officer of Walton Hi-Tech Industries.

Source: https://www.thedailystar.net/business/organisation-news/news/walton-expands-global-footprint-2999901

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 34,496.51
FTSE100$ 7,587.70↓26.02↓0.34%
Nikkei 225$ 26,890.04↓460.26↓1.68%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 97.67↑1.44↑1.50%
Crude Oil (Brent)$ 102.81↑1.74↑1.712%
Gold Spot$ 1,921.89↓ 3.41↓ 0.18%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 86.2000
GBP 1BDT 112.7065
EUR 1BDT 94.0183

*World Commodities & Local and Global Stock Indices data are taken from bloomberg.com<

* Exchange Rates are taken from BB website, as on latest update.<




Dear Valued Patrons,

At the very onset, let me express my heartiest gratitude for allowing us to serve you and I also wanted to reach out to you directly with an assurance that Dhaka Bank is fully equipped to support you during this difficult time.

Last couple of weeks ago we all were living in a peaceful condition, performing our daily tasks freely and perfectly. Entire economy and business environment was also in a good shape, until COVID-19 put a forceful stoppage to the overall life style and economy of the world. We all know that social distancing and cleanliness are the keys to prevent this pandemic. Hence, we urge your conscious effort to limiting public interaction and suspending wherever possible.

In this current situation, Dhaka Bank and its employees are beside you where we are fully online, either working from home or at our offices under a robust Business Continuity Plan (BCP) to serve you with limited branch banking and a full-fledged alternate delivery channel services.

Our state of the art Mobile App, Dhaka Bank GO (Click https://bit.ly/2WVfieu) and Internet Banking - Dhaka Bank Direct gives you the freedom of banking online anytime from anywhere. You can check the balance and transfer money to any designated Banks including any Dhaka Bank or bKash Account, make utility bill payments and mobile top-up through our Mobile App and Internet Banking Services. Our ATMs are also running efficiently with availability of sufficient cash for your convenience where you can make cash withdrawals whenever the need arises. Mentionable, the withdrawal of cash from any ATMs within Bangladesh with Dhaka Bank Debit Cards are absolutely free of charges up till April 30, 2020 (Dhaka Bank will bear the cost). Our corporate customers can also use our completely safe and secured online platform Dhaka Bank C-Solution for Payments, Inter Bank Fund Transfers, etc.

Moreover, to fulfill your urgent requirement, we have a limited no. of branches up and running by ensuring all kinds of precautionary and safety measures for you.

In case of extreme emergency and facing difficulties in conducting banking transactions, please let us know through our 24/7 Contact Center number 16474 (or, dial +8809678016474 for ISD/Overseas Calls). We are always with you to combat your difficulties.

As you know we are going through a critical phase and the situation is novel to all of us. We are getting lot of new information from various sources everyday about COVID-19 which will be shared at www.dhakabankltd.com.

Thank you for your trust and continued support to us. I firmly believe that jointly we will be able to combat this situation and win against all the odds.

Please stay home, stay safe and take care of yourself and family.

Best regards,

Emranul Huq
Managing Director & CEO
Dhaka Bank Limited