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 20, 2023

RFL expands Bizli Cables product line with new medium-voltage cable

RFL Group, widely known as Pran-RFL Group, one of the leading business conglomerates in the country, has introduced a new product category — medium-voltage power cable — to its popular cable brand Bizli Cables. The trial production of the cable has already begun at a newly constructed factory. The group’s concern, Rangpur Metal Industries Limited, which started its journey in 2013, runs the cable business under the brand name Bizli Cables. To produce medium-voltage power cables, Rangpur Metal has set up a fourth factory in its Habiganj Industrial Park establishment with a fresh investment of Tk60 crore. The new plant has a production capacity of 4,000 tonnes annually and has created employment opportunities for 200 people. RFL has so far invested around Tk220 crore in building four factories in the Habiganj region, where ten types of cables, including power cables, communication cables, enamel wire, copper strips, optical fibre, and fire resistance cables are produced. Currently, the size of the medium-voltage cable market approximates Tk1,000 crore. Some companies, including BRB Cables, BBS Cables and Partex Cables, are producing medium-voltage cables. Businesses have called for reducing duty on imports of raw materials to protect the local cable industry, while also calling for high duty to be imposed on imported cables.

Source: https://www.tbsnews.net/economy/industry/rfl-expands-bizli-cables-product-line-new-medium-voltage-cable-685254

Oil prices up 1%

Oil prices rose about 1 percent on Friday on signs of slowing US output, but both crude benchmarks also ended their longest weekly rally of 2023 on mounting concerns about global demand growth. West Texas Intermediate (WTI) crude futures gained 86 cents, or 1.1 percent, to settle at $81.25 a barrel, and Brent crude futures rose 68 cents, or 0.8 percent, to settle at $84.80 a barrel. Those concerns, spurred on by output cuts from the Organization of the Petroleum Exporting Countries and allies, helped oil prices gain for seven straight weeks since June. Brent crude gained about 18 percent and WTI gained 20 percent over the seven weeks ended August 11. Hatfield said he expects demand to hold up in China despite its slowing economy and forecast oil prices would trade between $75 to $90 a barrel over the coming months.

Source: https://www.thedailystar.net/business/global-economy/news/oil-prices-1-3398066

Mr. Helal Ahmed re-elected as independent director of Bank Asia

The Board of Directors of Bank Asia Limited recently re-elected Helal Ahmed Chowdhury as an independent director for another three-year term at its 500th board meeting. He started his career with Pubali Bank in 1977 as a Class-1 officer through superior service examination and was promoted in course to managing director and CEO (2006-2014) in the same bank, said a press release. Under his dynamic leadership, Pubali Bank got transformed into an institutional role model of government turned private commercial bank and won the prestigious award “Best Financial Institution” of the country given by DHL and The Daily Star in 2009. A former supernumerary professor at the Bangladesh Institute of Bank Management, Chowdhury is the board member and vice-chairman of the Association of Bankers, Bangladesh and a board member of the Bangladesh Institute of Bank Management.

Source: https://www.thedailystar.net/business/economy/news/helal-ahmed-re-elected-independent-director-bank-asia-3398121

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 34,500.66
↑ 25.83↑ 0.07 %
FTSE100$ 7,262.43↓ 47.78 ↓ 0.65 %
Nikkei 225$ 31,450.76↓ 175.24↓ 0.55 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 81.25↑ 0.86 ↑ 1.07 %
Crude Oil (Brent)$ 84.80↑ 0.68↑ 0.81 %
Gold Spot$ 1,889.31↓ 0.12↓ 0.01 %

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