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 14, 2023

RMG exports: Bangladesh earned $3.95 billion in July

The total RMG export during July in FY 2023-24 stood at $3.95 billion, up from $3.37 billion dollars in the same period in FY 2022-23, indicating 17.43% year-on-year growth. RMG export earnings from woven garments in July FY 2023-24 grew by 11.54% and reached  $1.68 billion from $1.51 billion in July FY 2022-23. At the same time, knitwear export grew by 22.24% year-on-year and reached $2.27 billion during the mentioned period. The growth is certainly impressive, though the global economic scenario is portraying a contrasting outlook. Though inflation has started to ease off in our major export markets and the economic indicators started stabilising, yet import of apparel by USA and EU is showing a major downtrend. Therefore, it’s quite challenging to forecast the market and I personally think that we need to follow a cautiously optimistic approach for the rest of 2023, as apparel and overall global trade may see some dip compared to last year.

Source: https://www.tbsnews.net/economy/rmg/rmg-exports-bangladesh-earned-395-billion-july-says-bgmea-682014

Bangladesh Bank raises lending rates for two export support schemes

The central bank has increased the interest rates on loans taken from both the Tk5,000 crore Pre-shipment refinance scheme and the Export Facilitation Pre-finance Fund (EFPF) instituted for export-oriented industries during the Covid-19 period.  The Banking Regulations and Policy Department of Bangladesh Bank issued two separate circulars today (13 August) instructing to increase the interest rate. As per the new policy, interest rate on pre-shipment refinance loans will be maximum 5% at a customer level. As per the earlier policy, this rate was 3.5%. Besides, the interest rate has also been increased at the bank level from 0.5% to 2%. At the same time, the customer-level interest rate on EFPF loans has been increased from 4% to 5%.  Besides, banks have to pay 2% interest to the central bank if they want to withdraw money from this fund, up from 1.5%. On April 13, 2020, the central bank set up a Tk5,000 crore pre-shipment refinance scheme to stave off the impact of the Covid-19. Customers could avail such loans to meet the pre-shipment costs of export products. Banks generally charge 7-8% interest on export loans.

Source: https://www.tbsnews.net/economy/banking/bb-raises-lending-rates-two-export-support-schemes-681926

South Korean company to invest $8.6m in BEPZA Economic Zone

South Korean company Dongwoo BD Limited is going to set up a shoe accessories manufacturing industry in BEPZA Economic Zone (EZ) with an investment of $8.62 million, reports BSS. In this connection, Bangladesh Export Processing Zones Authority (BEPZA) signed an agreement with Dongwoo BD Limited at BEPZA Complex in the city on Sunday. In presence of the Executive Chairman of BEPZA Major General Abul Kalam Mohammad Ziaur Rahman, Ali Reza Mazid, member (Investment Promotion) of BEPZA, and Kim Dong Kyu, chairman of Dongwoo BD Ltd, signed the agreement on behalf of their respective organisations. This fully foreign-owned company will create employment opportunities for 513 Bangladeshi nationals and will produce annually 3.6 million meters all kinds of PU Synthetic Leather.

Source: https://today.thefinancialexpress.com.bd/trade-market/s-korean-co-to-invest-86m-in-bepza-ez-1691940999

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 35,281.40
↑ 105.25↑ 0.30 %
FTSE100$ 7,524.16↓ 94.44 ↓ 1.24 %
Nikkei 225$ 32,070.28↓ 403.37↓ 1.18 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 82.47↑ 0.72↑ 0.87 %
Crude Oil (Brent)$ 86.06↑ 0.75↑ 0.86 %
Gold Spot$ 1,913.02↓ 0.74↓ 0.04 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 109.5000
BDT 109.5000

*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