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 December 11, 2022

Bangladesh eyes $10b exports in leather goods in 2030

Commerce Minister Tipu Munshi has said the government eyes US$10 billion in exports of leather and leather goods in 2030.”Bangladesh’s potential export product is leather. There is a lot of scope for the development and export of the leather industry. Currently, the export of the leather sector is more than $1 billion. In 2030, this export maybe $10 billion,” he said.The minister said this while speaking as the chief guest at an inauguration ceremony of the three-day ‘Leathertech-2022’ at International Convention City Bashundhara (ICCB) in the city, reports BSS citing a press release.Leather goods and Footwear Manufacturers and Exporters Association of Bangladesh (LFMEAB) organised the expo.In his speech, Tipu informed that the government is establishing 100 economic zones in important places across the country and it is possible to easily develop the leather industry in the economic zones.”We have raw material and skilled manpower. By using new technology, we can take the leather industry a long way. There is a huge demand for leather products in the international market,” he added.

Source: https://thefinancialexpress.com.bd/economy/bangladesh-eyes-10b-exports-in-leather-goods-in-2030-1670423825

Market diversification: A shield yet to be strong enough to protect investors

Thousands of investors burnt their fingers in the stock market debacles in 1996 and 2010, and many of them are yet to recover from the financial damages inflicted on them in the latest incident.They see the value of their assets is still less than their investment, a factor discouraging enough for liquidation of securities.The negative equities in investors’ portfolios currently amount to Tk 46.59 billion, and so the liquidity flow in the money market must be impacted or reduced by nearly as much.Until the latest market crash, the capital market stood only on equity-based securities. That raises a question whether investors could have cut down investment risks had they have diversified products to put their money on.Examples of other countries indicate that a diversified market protects investors better from market volatility. They create multiple options for investments by introducing products, such as bonds, ETF (exchange traded funds), Sukuk (Shariah-compliant bonds) etc. Risk with equity shares is usually higher than with others.

Source: https://thefinancialexpress.com.bd/stock/market-diversification-a-shield-yet-to-be-strong-enough-to-protect-investors-1670727954

Non-leather footwear exports can reach $1b by 2025

Exports and domestic sales of Bangladesh’s synthetic and athletic footwear sector have been witnessing some of the highest growths among those of other sectors, according to a market assessment of Bangladesh Investment Development Authority (Bida).Exports have been increasing at an average annual rate of about 20 per cent over the last six years thanks to increased demand from global brands, said insiders of the industry and Export Promotion Bureau.During the July-November period of the current financial year, non-leather footwear shipments bagged $209.50 million in export earnings, up by roughly 19.44 per cent year-on-year.The industry’s annual export earnings reached $449.15 million last year, a year-on-year gain of a whopping 30.39 per cent, shows data from the Export Promotion Bureau.

Source: https://www.thedailystar.net/business/economy/news/non-leather-footwear-exports-can-reach-1b-2025-3192876

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
↓305.02 ↓ 0.90%
FTSE100$7,476.63 ↑4.46 ↑0.06%
Nikkei 225$27,901.01 ↑326.58↑1.18%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$71.02↓0.44 ↓0.62%
Crude Oil (Brent)$76.10 ↓0.05↓0.07%
Gold Spot$1,797.32 ↑8.18↑0.46%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 103.1300
BDT 105.3000

*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