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 26, 2021

GDP growth target cut again

The government has revised down the GDP growth projection to 6.1 per cent for 2020-21, the second revision this fiscal year, reflecting the devastating impacts of the second wave of the coronavirus pandemic on the battered economy.

The government had initially targeted to achieve an 8.2 per cent expansion in the gross domestic product (GDP) in the current fiscal year. Later, the target was reset at 7.4 per cent. The new growth target was fixed yesterday at a meeting of the fiscal coordination council chaired by Finance Minister AHM Mustafa Kamal.

The government is planning for an expansionary budget for 2021-22. The size could be Tk 602,484 crore, which is 17.3 per cent of the GDP.

Source: https://www.thedailystar.net/business/economy/news/gdp-growth-target-cut-again-2083905

Stocks rise for eighth day

Stocks have continued to rise for the last eight days of trade due to increased participation of investors despite the coronavirus pandemic. The DSEX, the benchmark index of Dhaka Stock Exchange (DSE), rose 63 points, or 1.16 per cent, to stand at 5,498.21 yesterday. There are many reasons behind the recent jump of the market despite the ongoing pandemic, said Sayedur Rahman, president of Bangladesh Merchant Bankers Association.The world stock market is in a peak position amidst the pandemic and even the Indian market is also at a high level, he said, adding that India was witnessing a devastating deterioration of the pandemic. “It is influencing our investors positively,” he said. “Our financial sector has a huge amount of liquidity and deposit rate of the banking sector is very low so funds are coming to the stock market,” he said. As other investment places are not lucrative, stock market trade is possible sitting back at home so many investors are investing funds here, said Rahman, also managing director of EBL Securities.

On the other hand, many big companies declared higher earnings, especially banks which declared higher dividends this year, which positively impacted the market. The market was impacted last year when trading was shut but this year investors have the assurance that the market will remain open. The rising trend of the market also gave them a boost of confidence, he added.

The Chittagong Stock Exchange has also remained in an upward trend. The CASPI, the general index of the port city bourse, rose 143 points, or 0.91 per cent, to stand at 15,867. Among 236 stocks to witness trade, 132 rose, 63 fell and 41 remained unchanged, shows the CSE data

Source: https://www.thedailystar.net/business/economy/news/stocks-rise-eighth-day-2083897

Higher earnings raise IPDC’s stock price

Stocks of IPDC Finance rose 2.08 per cent to Tk 24.50 yesterday thanks to the higher earnings declaration by the company in the first quarter of the current year. The non-bank financial institution’s profit rose 36 per cent year-on-year to Tk 20.49 crore in the January-March period of 2021. During the period, IPDC’s net interest income increased 3.6 per cent to Tk 57 crore while investment income surged more than three times to Tk 23 crore. However, the company’s per share net operating cash flow stood at TK 18.09 in the negative, which was Tk 1.98 in the positive a year earlier. On March 31, 2021, the NBFI’s per share net asset value stood at Tk 16.52, which was Tk 16.34 three months earlier. It has a paid-up capital of Tk 371 crore, according to Dhaka Stock Exchange (DSE) data. The company provided 12 per cent cash dividend to its shareholders for the year that ended on December 31, 2020.Sponsors of the A category company hold 48 per cent of its shares, government 21.88 per cent, institutional investors 16.79 per cent and foreign investors 2.35 per cent.General investors hold the rest 10.94 per cent shares of IPDC, DSE data shows.

Source: https://www.thedailystar.net/business/economy/news/higher-earnings-raise-ipdcs-stock-price-2083893

Garment makers want more stimulus

Garment factory owners are demanding more stimulus funds from the government to pay three months’ salaries alongside festival allowances to workers.”We demanded that the government give low-cost funds to us for paying salaries for April, May and June and festival allowance to the workers,” said Faruque Hassan, president of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA).The newly elected BGMEA leaders made the demand at an emergency meeting at the trade body’s Uttara office on Saturday.

Hassan said they did not mention any specific amount to the government but that for three months’ salaries and allowances for workers.Workers of export-oriented garment factories receive around Tk 3,000 crore every month as salary. “So, the amount is already estimated and only the allowance money would be added,” Hassan told The Daily Star.

Source: https://www.thedailystar.net/business/economy/news/garment-makers-want-more-stimulus-2083889

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 34,043.49
FTSE100$ 6,938.56↑0.32↑0.00%
Nikkei 225$ 29,095.36↑74.73↑0.26%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 61.92 ↓ 0.22↓0.35%
Crude Oil (Brent)$ 65.82↓0.29↓0.44%
Gold Spot$ 1,782.78↑5.58↑0.31%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 84.8015
GBP 1BDT 117.6875
EUR 1BDT 102.6183





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