$

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 August 03, 2021

ADP spending rebounds

Development spending in Bangladesh rebounded in the last fiscal year although the implementation rate was still one of the lowest in three decades because of the disruption caused by the coronavirus pandemic and structural weaknesses. The pace of execution of the annual development programme (ADP) sank to a 27-year low of 80.18 per cent in the fiscal year of 2019-20 as projects halted for two months in April and May last year after the government was compelled to enforce a countrywide shutdown to curb the rising cases of infections.It bounced back to 82.21 per cent in the last fiscal year of 2020-21 after the government spent Tk 172,051 crore out of the Tk 209,272 crore set aside for the ADP projects, shows data from the Implementation Monitoring & Evaluation Division (IMED) of the planning ministry. It is nowhere near the average implementation rate of 90 per cent in the pre-pandemic level and was, in fact, the third-lowest since FY1993-94, according to the Bangladesh Economic Review. The development spending stood at Tk 49,920 crore in June, up 7.77 per cent from Tk 46,319 crore in the same month a year ago.Despite being one of the priority sectors of the government owing to the ongoing pandemic, the health services division emerged as one of the worst performers. It spent 57.91 per cent of the budget for FY21. Similarly, the food ministry’s expenses were 55.71 per cent. The social welfare ministry spent 70.16 per cent of the allocation.

Source: https://www.thedailystar.net/business/economy/banks/news/adp-spending-rebounds-2143551

DSE turnover hits two-month high

The daily trade turnover on Dhaka Stock Exchange (DSE) hit two months high on Monday as investors put fresh funds on stocks riding on new hope after the central bank unveiled expansionary monetary policy. Turnover, a crucial indicator of the market, climbed to Tk 21.88 billion on the country’s premier bourse, in a further rise by 44 per cent over previous day’s mark of Tk 15.21 billion. It happens to be the biggest single-day transaction since June 10, this year, when the turnover recorded of Tk 26.69 billion. Along with high turnover, the prime index of the DSE went up by 56.31 points or 0.87 per cent to settle at 6,481, the highest since its inception more than eight years back in 2013. The blue chip index DS30, also rose 16.22 points to settle at an all-time high at 2,344, highest since its inception on January 27, 2013. The DSE Shariah Index also rose 11.10 points to close at 1,412.The Chittagong Stock Exchange also ended sharply higher with its All Shares Price Index (CASPI)-soaring 223 points to finish at 18,858 while the Selective Categories Index – CSCX– rising 128 points to close at 11,318. Of the issues traded, 231 advanced, 69 declined and 23 issues remained unchanged on the CSE.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/dse-turnover-hits-two-month-high-1627925976

 Summit Oil signs MoU with Commonwealth LNG to supply fuel to Bangladesh

Summit Oil and Shipping Co. Ltd. (SOSCL), the private sector importer and supplier of fuel oil to Bangladesh, has signed a Memorandum of Understanding (MoU) with Commonwealth LNG to collaborate in the supply of LNG to Asia, including Bangladesh. The scope of the MoU includes SOSCL potentially contracting for one million tonnes per year (MTPA) of LNG offtake, for a term of up to 20 years, from Commonwealth’s 8.4 MTPA facility currently under development in Cameron, Louisiana. SOSCL’s associated companies within Summit Group have approximately 3 GW of gas-to-power electricity in operation or development within the Indian subcontinent, and operate a 500 mmcf/d Floating Storage and Regasification Unit (FSRU) and LNG terminal under Summit LNG Terminal Co (Pvt) Ltd “SLNG”) in Moheshkhali, Cox’s Bazar.

Source: https://today.thefinancialexpress.com.bd/trade-market/summit-oil-signs-mou-with-commonwealth-lng-to-supply-fuel-to-bangladesh-1627925347

NRB Commercial Bank now in ‘A’ category

NRB Commercial Bank has been placed in ‘A’ category from existing ‘N’ category with effect from today (Tuesday) as the bank reported disbursement of dividends for the year 2020. The private commercial bank disbursed 7.50 per cent cash and 5.0 per cent stock dividends for the year ended on December 31, 2020.NRB Commercial Bank, which made trading debut on March 22 this year raised Tk 1.20 billion from the stock market through IPO using the fixed price method for buying government securities and enhances the lender’s investment in the stock market. Each share of the bank closed at Tk 28.60 on Monday. Its share traded between Tk 11 and Tk 40.40 since listing with the stock market. The bank’s consolidated earnings per share (EPS) soared 213 per cent to Tk 0.69 for April-June 2021 as against Tk 0.22 for April-June 2020. The consolidated EPS was Tk 1.11 for January-June 2021 as againstTk 0.49 for January-June 2020. The consolidated net operating cash flow per share (NOCFPS) was negative Tk 0.78 for January-June 2021 as against Tk 1.27 for January-June 2020.The sponsor-directors own 73.32 per cent stakes in the bank while the institutional investors own 3.13 per cent and the general public 23.55 per cent as of June 30, 2021, the DSE data shows. The bank began its journey on April 2, 2013, as a scheduled bank.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/nrb-commercial-bank-now-in-a-category-1627926030

NRB Commercial Bank now in ‘A’ category

NRB Commercial Bank has been placed in ‘A’ category from existing ‘N’ category with effect from today (Tuesday) as the bank reported disbursement of dividends for the year 2020. The private commercial bank disbursed 7.50 per cent cash and 5.0 per cent stock dividends for the year ended on December 31, 2020.NRB Commercial Bank, which made trading debut on March 22 this year raised Tk 1.20 billion from the stock market through IPO using the fixed price method for buying government securities and enhances the lender’s investment in the stock market. Each share of the bank closed at Tk 28.60 on Monday. Its share traded between Tk 11 and Tk 40.40 since listing with the stock market. The bank’s consolidated earnings per share (EPS) soared 213 per cent to Tk 0.69 for April-June 2021 as against Tk 0.22 for April-June 2020. The consolidated net operating cash flow per share (NOCFPS) was negative Tk 0.78 for January-June 2021 as against Tk 1.27 for January-June 2020.The sponsor-directors own 73.32 per cent stakes in the bank while the institutional investors own 3.13 per cent and the general public 23.55 per cent as of June 30, 2021, the DSE data shows. The bank began its journey on April 2, 2013, as a scheduled bank.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/nrb-commercial-bank-now-in-a-category-1627926030

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 34,838.16
↓97.31↓ 0.28%
FTSE100$ 7,081.72↑49.42↑0.70%
Nikkei 225$ 27,567.06↓213.96↑1.86%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 73.17↓0.78↓1.05%
Crude Oil (Brent)$ 74.55↓0.86↓1.14%
Gold Spot$ 1,811.91↓2.28↓0.13%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 84.8090
GBP 1BDT 117.9015
EUR 1BDT 100.4647

*CURRENCIES AND COMMODITIES ARE TAKEN FROM BLOOMBERG.<

AN IMPORTANT MESSAGE FROM

EMRANUL HUQ

MANAGING DIRECTOR & CEO OF DHAKA BANK LIMITED

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.

YOUR SAFETY MEANS EVERYTHING TO US
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.

WE WILL TAKE CARE OF YOUR BANKING NEEDS
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.

GET IN TOUCH IF YOU ARE IN EXTREME EMERGENCY
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.

WE WILL FREQUENTLY UPDATE YOU
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

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