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 26, 2021

3 key fast-track projects near end

Padma Bridge, Payra Port and Dhaka Metro Rail-6 are among the fast-track projects nearing completion, whereas several others are witnessing a slower than expected implementation rate, according to a progress report. The Padma Multipurpose Bridge project, the largest bridge infrastructure in Bangladesh, had financial progress of 85.74 per cent and physical progress of 87.25 per cent as of July this year, said the Implementation Monitoring and Evaluation Division (IMED) in the report.The Tk 30,190 crore bridge, whose physical works started in November 2014, was scheduled to complete in June. It is now expected to open to the public in June next year.The physical progress of Payra Port, the third seaport in Bangladesh, stood at 82.56 per cent. The port, located in Kalapara under Patuakhali, is scheduled to be complete by June 2022.The Dhaka Mass Rapid Transit Development Project clocked a 71.33 per cent implementation rate for its MRT-6, involving Tk 21,985 crore. The IMED called for strengthening monitoring to accelerate the execution.About Tk 11,071 crore out of the total project cost of Tk 16,000 crore has been spent so far. The project is building a 1,320-megawatt (MW) power plant in Rampal of Bagerhat.The government has allocated Tk 18,426 crore for the project from the annual development programme (ADP) in the current fiscal year. The project, set to be constructed by 2025, will cost Tk 113,092 crore.

Source: https://www.thedailystar.net/business/economy/news/3-key-fast-track-projects-near-end-2161196

 BB starts money mkt probe

The central bank starts investigation into entire money-market transactions along with exposures on the capital market to gauge liquidity movements in the banking system, following some already-detected incongruities. At least six teams of the Bangladesh Bank (BB) are now probing different transactions of treasury and investment departments of the banks and non-banking financial institutions (NBFIs). The term NOP stands for net outstanding balance of all assets, liabilities, and off-balance-sheet items of banks. Meanwhile, the central bank started collecting information on short-term loans or placements with names of the clients along with the banks’ daily reports on their own, subsidiaries and others’ net exposures on the capital market on August 16.The BB’s latest moves came against the backdrop of issuance of a forewarning as part of a precautionary measure to avert possible ‘asset bubble’ with a note for the banks to check diversion of funds into unproductive sectors. Also, the commercial banks have been directed to ensure right end-use of the funds through conducting necessary inspections by their internal audit departments.

Source: https://today.thefinancialexpress.com.bd/first-page/bb-starts-money-mkt-probe-1629914960

 Banks to submit monthly VAT info

The central bank has asked scheduled banks to submit statements of value- added tax (VAT) deducted from services rendered by non-resident taxpayers such as Google, Facebook, Amazon and Microsoft. The banks will have to send the statements through the banks’ head offices within seven days of the following month, said a notification issued by the Bangladesh Bank (BB) on Wednesday.In a meeting held at the NBR on June 24 last, it was decided that the banks would submit to NBR and concerned VAT agents’ the statements of VAT deduction against services rendered by the non-resident taxpayers. The central bank has prepared a uniform statement and instructed the banks to submit the statements to member (VAT policy) of the NBR and concerned VAT agents, according to the notification.

Source: https://today.thefinancialexpress.com.bd/first-page/banks-to-submit-monthly-vat-info-1629915166

HSBC, BEZA, Brac team up to make Mirsarai Economic Zone greener

HSBC Bangladesh has recently partnered with the Bangladesh Economic Zones Authority (BEZA) and Brac to build a green economic zone in Chattogram’sMirsarai, reports UNB. The collaboration will ensure over 40,000 mangroves plantation across 10 acres of coastal land at the Bangabandhu Sheikh MujibShilpa Nagar (BSMSN) in Mirsarai. The mangrove plantation is estimated to capture 492 tonnes of carbon each year.To mark the inauguration of this initiative, HSBC CEO MdMahbubur Rahman planted saplings at the Shilpa Nagar.

Source: https://today.thefinancialexpress.com.bd/trade-market/hsbc-beza-brac-team-up-to-make-mirsarai-economic-zone-greener-1629912701

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 35,405.50
FTSE100$ 7,150.12↑24.34↑0.34%
Nikkei 225$ 27,717.72↓7.08 ↓0.03%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 67.90↓0.46↓0.67%
Crude Oil (Brent)$ 71.91↓0.34↓0.47%
Gold Spot$ 1,787.50↓3.50↓0.20%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 85.2000
GBP 1BDT 116.9881
EUR 1BDT 100.1696





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