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 11, 2021

Trade deficit hits all-time high

Bangladesh’s trade deficit hit an all-time high of $22.27 billion last fiscal year due to a rise in commodity prices in the global market. In fiscal 2019-20, this trade gap, which occurs when imports outweigh exports, swelled 27.66 per cent year-on-year to stand at $17.85 billion, showed data from Bangladesh Bank.Economists however assured that the record deficit would not have any adverse impact on the economy as the country’s foreign exchange reserve was now in a good condition. In addition, exports went up in fiscal 2020-21, which pushed up imports as well. Last fiscal year, imports increased 12.55 per cent year-on-year to $60.68 billion while exports 15.38 per cent to $37.88 billion.Export earnings from the garment sector increased 12.55 per cent year-on-year to $31.45 billion last fiscal year.The import cost of petroleum products stood at $8.98 billion in FY21, up 67.71 per cent year-on-year.Bangladesh counted $850.9 million in rice import costs last fiscal year in contrast to $21.5 million a year ago.The foreign exchange reserve stood at $46.39 billion as of June, up 28.73 per cent year-on-year. Remittance grew 36.11 per cent year-on-year to $24.77 billion last fiscal year.The country’s economy tried to make a turnaround last year before the pandemic’s second wave came about, Rahman said. This has had a good reflection on the major indicators of the balance of payments – trade deficit, exports, imports and so on. He, however, said commodity prices in the global market had gone up, which was another cause for the record deficit.The import cost of petroleum products stood at $8.98 billion in FY21, up 67.71 per cent year-on-year. The country also imported a huge amount of food grain to offset local shortages. Bangladesh counted $850.9 million in rice import costs last fiscal year in contrast to $21.5 million a year ago.

Source: https://www.thedailystar.net/business/economy/banks/news/trade-deficit-hits-all-time-high-2149626

 Al-Arafah bank gets new chairman, vice-chairman

Al-Arafah Islami Bank (AIBL) has recently witnessed the election of a chairman and vice-chairman. Salim Rahman, who is the managing director of industrial conglomerate KDS Group, has been elected as chairman. AIBL eleected Abu Naser Mohammad Yeahea as its vice chairman. Yeahea is chairman and managing director of Purbachal Steel Mills, proprietor of Purbachal Gas Filling Station and director of AIBL Capital Market Services and Intech.

Source: https://www.thedailystar.net/business/economy/banks/news/prime-bank-retains-credit-ratings-2149481

 Berger Paints Bangladesh’s EPS jumps 594pc in Apr-Jun

Berger Paints Bangladesh has posted an impressive 594 per cent increase in its first quarter (Q1) profit compared to the same quarter last year thanks to higher revenue and reduction of corporate tax rate. The leading paints maker has reported consolidated revenue of Tk 5.25 billion for the first quarter ended on June 30, 2021 as against revenue of Tk 2.08 billion in the same period of the previous year. The multinational company has also reported net profit of Tk 746.21 million in April-June, 2021 quarter, as against Tk 107.58 million in the same quarter a year earlier. In a filing with Dhaka Stock Exchange (DSE) on Tuesday, the company said its consolidated earnings per share (EPS) increased to Tk 16.09 for April-June, 2021, up by a whopping 594 per cent, from Tk 2.32 in the corresponding period. The company has also reported its consolidated net operating cash flow per share (NOCFPS) of Tk 1.24 for April-June 2021 as against negative Tk 10.34 for April-June 2020.Berger Paints has recommended a 375 per cent cash dividend for the year ended on March 31, 2021. The annual general meeting will be held on October 6. In 2020, the company provided a 295 per cent cash dividend. The company’s paid-up capital is Tk 463.78 million and authorised capital is Tk 1.0 billion, while the total number of securities is 46.37 million.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/berger-paints-bangladeshs-eps-jumps-594pc-in-apr-jun-1628617181

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 35,264.67
↑162.82↑ 0.46%
FTSE100$ 7,161.04↑28.74↑0.40%
Nikkei 225$ 28,032.32↑144.17↑0.52%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 68.10↓0.19↓0.28%
Crude Oil (Brent)$ 70.48↓0.15↓0.21%
Gold Spot$ 1,734.33↑5.40↑0.31%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 84.8400
GBP 1BDT 117.4864
EUR 1BDT 99.6106





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