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 25, 2022

FDI goes up but lower than expected

Foreign direct investment to Bangladesh rose 13 per cent year-on-year to $2.89 billion last year, in a positive development for an economy long looking to increase the flow of external funds to accelerate its growth. FDI inflow has been far lower than the expected level given the country’s business volume and potential of the economy.Strict regulations, bureaucratic complexities, inadequate infrastructures and lack of one-stop service have become major challenges to lifting the volume of FDIs. Fresh investment, or equity capital, was at a higher level last year compared to 2020, which has been described by economists as a good development for the country’s investment sector.FDI in the field of equity capital rose 35 per cent to $1.13 billion, according to data from the Bangladesh Bank.The reinvestment of earnings stood at $1.562 billion last year in contrast to $1.566 billion a year prior. Intra-company loans increased to $194 million, up 25 per cent year-on-year.The government had targeted to attract $32 billion in FDI during the Seventh Five-Year Plan period stretching from the fiscal year of 2015-16 to 2019-20. But the country managed less than $10 billion.

Source: https://www.thedailystar.net/business/economy/news/fdi-goes-lower-expected-3011801

BB asked Banks to take insurance coverage for export financing

The Bangladesh Bank yesterday asked banks to take insurance coverage against their financing to exporters in a bid to minimise default risk of loans. As per banking norms, lenders can provide post-shipment financing to exporters as they wait to receive funds from buyers through correspondent banks.In such a situation, there is always a default risk if the correspondent banks, through which funds are received by exporters, don’t pay back the value of the items shipped on time.This will give an extra comfort to banks as insurance companies have to take responsibility in the event banks don’t receive the funds as promised.

Source: https://www.thedailystar.net/business/organisation-news/news/take-insurance-coverage-export-financing-3011796

 Khulna Power to sell 110MW plant

Khulna Power Company Limited (KPCL) is set to sell its 110 megawatt barge mounted power plant at a value of $15 million, according to a company statement posted on the Dhaka Stock Exchange (DSE) website yesterday. An asset purchase agreement has been signed between KPCL and Excelerate Global Operations LLC of the US to this end. The company also informed that they have applied to the Bangladesh Power Development Board (BPDB) and other concerned authorities for approval to re-export the plant (power barges) outside Bangladesh. Stocks of KPCL dropped 0.63 per cent to Tk 31.40 at the DSE yesterday.Its earnings per share dropped Tk 1.57 in the July-December period of 2021-22 while it was Tk 2.88 in the same period of the previous fiscal year.

Source: https://www.thedailystar.net/business/economy/news/khulna-power-sell-110mw-plant-3011761

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 33,811.40
↓981.36↓ 2.82 %
FTSE100$ 7,521.68↓ 106.27↓ 1.39 %
Nikkei 225$ 26,578.70↓526.56↓1.94%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 99.22↓2.85↓2.79%
Crude Oil (Brent)$ 103.76↓ 2.89↓2.71%
Gold Spot$ 1,923.42↓8.18↓0.42%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 86.2000
GBP 1BDT 112.6634
EUR 1BDT 93.5615

*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