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 23, 2021

DBL on $650m expansion spree

DBL Group, one of the leading exporters, is going to invest $650 million to set up 10 manufacturing units for textiles, ceramics, and sanitary ware at the Sreehatta Economic Zone in Moulvibazar. It made the disclosure during the foundation stone laying ceremony of the DBL Industrial Park at the Pan Pacific Sonargaon Dhaka yesterday. So far, the state-run economic zone has received $1.5 billion in investment proposals.Set up in 1991, the Group operates in apparel, textiles, tiles, pharmaceuticals, dredging, semiconductor design, ICT and telecommunications. It has 39,000 employees and recorded a turnover of $600 million in 2018-19. DBL has also invested in Ethiopia, where it has an apparel and textile factory.It will take three years to set up 10 industries on 167.6 acres of land at the industrial park, where 5,630 people will be employed.The industrial park will also have a polyester recycling unit to produce staple fibre as a raw material for spinning factories with a targeted production capacity of 18 tonnes per day. DBL will produce more than 40,000 square metres of ceramic wall and floor tiles per day in two production lines in the ceramics factory, the group said in a statement. In another ceramic facility, it will produce 90 to 99 tonnes of ceramic frit, a major ingredient of ceramic glaze used widely in the ceramic industry, per day.

Source: https://www.thedailystar.net/business/economy/industries/investments/news/dbl-650m-expansion-spree-2158526

 Core index exceeds 6800pt mark

Stocks rebounded strongly Sunday, after two-day moderate correction, with all three indices and market capitalization of the Dhaka Stock Exchange (DSE) set new highs. The market opened on a flying note and the upbeat trend sustained till the end of the session as buoyant investors put fresh bets on major sector issues, particularly on banking sector stocks. DSEX, the benchmark index of the DSE, went up by 81.61 points or 1.20 per cent to settle at 6,842-the highest since its inception more than eight years back on January 27, 2013. The core index of the DSE, surpassed the 6,800-mark for the first time after the index was introduced. Two other indices–the DSE 30 Index and the DSE Shariah Index (DSES) — followed suit to close at new highs of 2,451 and 1,479, after rising 28.34 points and 18.38 points respectively. The DSE launched the DS30 Index on January 27, 2013 with a base point of 1,460.30 while DSES was introduced on January 20, 2014 with a base point of 941.27.The Chittagong Stock Exchange (CSE) also ended higher with the CSE All Share Price Index – CASPI -soaring 208 points to settle at 19,921 and the Selective Categories Index – CSCX rising 121 points to close at 11,942.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/core-index-exceeds-6800pt-mark-1629650644

IFAD Autos to invest Tk 800m

IFAD Autos, a listed company, has decided to invest Tk 800 million to acquire 40 per cent shares of the IFAD Multiproducts, one of the sister concerns of IFAD Group, having a common management. The said amount of investment is subject to approval by the shareholders/members in the forth coming general meeting of the IFAD Autos, the company said in a filing with the Dhaka Stock Exchange (DSE) on Sunday.IFAD Autos lease the land as rental basis for 50 years. The amount of rent is US$ 303,514.50 or equivalent Bangladeshi taka per annum. In this regard, IFAD Autos has already paid a sum of Tk 51.56 million–equivalent to US$ 607,029 to the BEZA only as security deposit which is equivalent to two years annual lease rent for the demised land.The company has reported earnings per share (EPS) of Tk 0.51 for January-March 2021 as against Tk 0.48 for January-March 2020. In nine months, its EPS was Tk 2.17 for July 2020-March 2021 as against Tk 1.92 for July 2019-March 2020. IFAD Autos, listed on the DSE in 2015, disbursed 9.0 per cent cash and 2.0 per cent stock dividend for the year ended on June 30, 2020. In 2019, it provided a 10 per cent cash dividend. The company’s paid-up capital is Tk 2.52 billion and authorised capital is Tk 3.0 billion, while the total number of securities is 252.95 million.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/ifad-autos-to-invest-tk-800m-1629650735

 Big groups foresee business in jute

A number of big business conglomerates have stepped up to take over shut state-run jute mills to cash in on growing export potentials. Pran, Bay and Akij are among some big names who want to invest in such jute mills, while two jute mills from India and one from the United Kingdom are also in the race, according to sources at the textiles and jute ministry. Twenty-four companies vied for the lease of 14 out of 17 mills put on an international tender.The state-owned mills, closed after years of losses, will be leased out initially for 5 to 20 years and there will be options to extend it further later.According to sources, the highest number of applications was submitted for Bangladesh Jute Mills in Narsingdi’sGhorashal as it is located near Dhaka city, with 11 companies applying for its lease. The mill was established in 1962 on 77 acres.Pacific Jute in West Bengal is a 100% export-oriented organisation and was established in 2004, while the Jute Republic was founded in 2016 and is headquartered in central London.According to the BJMC, the total assets of the government jute mills amount to Tk25,352.46 crore, including Tk14,329 crore in fixed assets.

Source: https://www.tbsnews.net/economy/big-groups-foresee-business-jute-291721

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 35,120.08
↑225.96↑0.65 %
FTSE100$ 7,087.90↑29.04↑0.41 %
Nikkei 225$ 27,467.65↑454.40 ↑1.68 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 63.20↑ 1.06↑1.71 %
Crude Oil (Brent)$ 66.34↑1.16↑1.78 %
Gold Spot$ 1,787.66↑6.55↑0.37 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 85.1000
GBP 1BDT 115.9402
EUR 1BDT 99.5500





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