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

Click to Close

Rate last updated: 02/01/2014 11:15:04 AM

Daily Business News Flash August 30, 2023

DBL Group gears up for Srihatta textile production by November

DBL Group, a leading apparel exporter in the country, plans to commence commercial production at its greenfield cotton yarn spinning mill in the Srihatta Economic Zone in Moulvibazar by November. As part of its investment plans, the group has constructed a world-class textile mill named “Jinnat Textile Mills Ltd”. It is designed to produce fine cotton yarn and rotor yarn, catering to the diverse needs of the textile industry, with a daily capacity of 43.5 tonnes. Investment is estimated to be around $83.35 million, with an expected annual revenue of $70 million. According to the top management, the business conglomerate will initiate operations in its nine other units, spanning various sectors in the economic zone, within the next two years. The group is investing approximately $650 million to establish the factories at DBL Industrial Park, which is currently being developed within the economic zone. According to the company, the industrial park, which is being established on 167.6 acres of land, is expected to generate employment for 5,630 people. The products to be manufactured in the industrial park span various industries, including textiles, spinning, recycled polyester, ceramic tiles, sanitary ware, ceramic frit, floral glass, glass processing, dry mortar, and faucet units. The recycled polyester unit will produce 18 tonnes of staple fibre per day as raw material for the spinning factory.

Source: https://www.tbsnews.net/economy/rmg/dbl-gears-srihatta-textile-production-nov-691310

Top cement makers shifting to eco-friendly production

Bangladesh’s major cement manufacturers are increasingly shifting to eco-friendly production processes with a view to cutting energy consumption and pollution and ensuring the sustainability of their business in a world that is getting more worried about industries’ carbon footprint. As part of their green transformation, the mills have replaced their traditional ball mills (TBMs) with sophisticated vertical roller mill (VRM) and roller press (RP) equipment. The roller press is an equipment applied to grind clinker, gypsum, coal, quartz sand, iron ore, blast furnace slag, and other materials. In Bangladesh, there are 37 active cement factories, with a total annual production capacity of 58 million tonnes against a demand of 35 million tonnes.

Source: https://www.thedailystar.net/business/economy/news/top-cement-makers-shifting-eco-friendly-production-3406406

Bangladesh is the biggest cotton apparel exporter to UK

Bangladesh is the largest cotton-based apparel exporter to the United Kingdom, grabbing over 21 per cent of its market share in that particular category, according to a latest study report. In 2021, Bangladesh exported cotton-based garment worth $1.95 billion having 21.9-per cent UK market share. On the other hand, China’s market share was 10.2 per cent with $0.91-billion worth of exports. Bangladesh is likely to earn $11 billion from ready-made garment (RMG) and $1.3 billion from non-RMG exports to the UK by 2030. Study projected that Bangladesh’s apparel exports to the UK would reach $11 billion and non-RMG exports, now only $0.7 billion, reach $1.3 billion by 2030. Under the new scheme, Bangladesh as an LDC enjoys duty-free market access through the DCTS Comprehensive Preferences. Even after its graduation in 2026, the country will continue to enjoy the same LDC benefit for another three years until 2029.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/bd-biggest-cotton-apparel-exporter-to-uk-study-1693326317

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 34,852.67
↑ 292.69↑ 0.85 %
FTSE100$ 7,464.99↑ 126.41↑ 1.72 %
Nikkei 225$ 32,464.42↑ 237.45↑ 0.74 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 81.49 ↑ 0.33↑ 0.41 %
Crude Oil (Brent)$ 85.82↑ 0.33↑ 0.39 %
Gold Spot$ 1,936.45↓ 1.09↓ 0.06 %

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