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 18, 2022

Export of services earning substantial forex

Bangladesh’s services sector sustains increased export earnings even during this global economic crisis as it posted 6.12-percent growth in the first quarter of the current fiscal, official data show, driven by technology. The country received US$2.01 billion from services export during the July-September period (Q1) of the current fiscal year (FY2023), Export Promotion Bureau (EPB) data showed. In the same period (Jul-Sep) last FY2022, the earnings from the sector was $1.89 billion, according to the EPB data. An FE analysis has found that some services sectors, including telecommunications and information services, travels, financial services and other business travels, have pivoted the export earnings. Exports from education and tourism services dominated the Bangladesh export-earning growth from the overseas market as it posted 62-percent expansion during the Q1 of FY2023 compared to the same period of FY2022. The earnings were worth $92.88 million in the Jul-Sep period from personal travels (education and tourism) against $57.34 million in the same period last FY2022, the EPB data showed. The ICT and telecommunications sector posted an impressive foreign-exchange earning in the FY2023Q1 with 28.58-percent growth in the export.

Source: https://thefinancialexpress.com.bd/economy/export-of-services-earning-substantial-forex-1671332364

‘China now largest FDI source of BD’

China has become the largest FDI (foreign direct investment) source country of Bangladesh in terms of the gross flow of $940 million for fiscal year 2022. It has also ranked top in foreign investors with 104 investors at eight export-processing zones (EPZs), said Song Yang, economic and commercial counsellor of Chinese Embassy, on Saturday. He was addressing the ‘Forum on China-Bangladesh Human Resources Development Cooperation and Reunion of Participants of Chinese Government Training Programmes’ hosted by the embassy at a city hotel. “China has been the largest trading partner of Bangladesh for the past 12 consecutive years,” he said. The trade volume between the two countries increased by 58 per cent last year showing strong resilience of bilateral trade during the Covid-19 pandemic. The training was organised in cooperation of the country’s Commerce Ministry, Academy for International Business Officials, and Yunnan International Centre for Economic and Technical Exchanges. Seventy-three participants from government agencies, enterprises and public institutions have joined the foreign aid training program online since 2020.

Source: https://thefinancialexpress.com.bd/economy/china-now-largest-fdi-source-of-bd-1671331967

Mandatory savings scheme with special benefits for remitters on cards

The Ministry of Expatriates’ Welfare and Overseas Employment is preparing a new policy offering a package of services to migrant workers returning home. The package, aimed at boosting remittance inflow, will include a first-ever compulsory savings scheme along with special benefit packages. The savings scheme will take part of a worker’s remittance to which the government will add an amount. This entire sum will be returned with interest to the remitter when they come back. Expatriates will be able to use this fund for productive investment and business opportunities including business start-up support, access to banking and microcredit after returning home. The policy, The National Reintegration Policy for Migrants, is being prepared for two main reasons – the overall welfare of the expatriates and boosting remittance inflow to beef up the waning foreign exchange reserve, Dr Ahmed Munirus Saleheen, secretary to the Ministry of Expatriates’ Welfare and Overseas Employment, told The Business Standard (TBS).

 Source: https://www.tbsnews.net/bangladesh/mandatory-savings-scheme-special-benefits-remitters-cards-553462

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 32,920.46
↓ 281.76 ↓ 0.85%
FTSE100$ 7,332.12↓ 94.05↓ 1.27%
Nikkei 225$ 27,527.12 ↓ 524.58↓ 1.87%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 74.29 ↓ 1.82 ↓ 2.39%
Crude Oil (Brent)$ 79.04 ↓ 2.17 ↓ 2.67%
Gold Spot$ 1,793.08↑ 16.23↑ 0.91%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 103.2300
BDT 107.5000

*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