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 20, 2020

RBI to maintain accommodative monetary policy stance

The Reserve Bank of India is likely to maintain its accommodative monetary policy stance but a faster-than-expected recovery in growth is limiting the scope for further rate cuts, the minutes of the monetary policy committee (MPC) meeting said.The MPC left key interest rates unchanged this month amid persistently high inflation but said it would ensure ample liquidity to stressed sectors to keep India’s nascent economic recovery on track. “With growth gaining cyclical momentum, the window available to the MPC to look through inflation pressures is narrower than before,” deputy governor and MPC member Michael Patra wrote in the minutes released on Friday.

The Indian economy contracted by a smaller-than-expected 7.5 per cent in the September quarter while retail inflation eased to 6.93 per cent in November but stayed well above the RBI’s mandated 2 per cent-6 per cent target range. “High inflation remains a risk but easing these pressures requires easing supply conditions,” wrote ShashankaBhide, member of the MPC. Most members, however, believe inflation remains transient and is largely due to supply-side factors and should start easing post December.

Source: https://www.thedailystar.net/business/news/rbi-maintain-accommodative-monetary-policy-stance-2014013

Sponsor director elected chairman of Citizens Bank

TowfikaAftab, one of the sponsor directors of Citizens Bank, has recently been elected chairman of the bank. A lawyer by profession, she served as a government appointed legal prosecutor in the Bangabandhu Sheikh Mujibur Rahman and four national leaders’ murder cases.She obtained a master’s degree in political science and bachelor of law degree from the University of Dhaka.Towfika is also the founder chairman of Ethnica School

Source: https://www.thedailystar.net/business/news/sponsor-director-elected-chairman-citizens-bank-2014021

China’s economic recovery ‘not yet solid’ after pandemic

China said its economy had yet to fully bounce back from the coronavirus pandemic and pledged financial support for recovery efforts at the end of a key annual policy meeting on Friday.The country suffered its first contraction in decades this year in the wake of a public health crisis that prompted drastic lockdowns in Wuhan. Its economy has since improved after authorities managed to largely contain the infection, and China is likely to be the only major world power to record positive growth this year.But officials at this week’s Central Economic Work Conference, presided over by President Xi Jinping, said the global recovery would be “unstable and uneven” and signaled a fiscal policy focused on maintaining economic stability.

“We must be clearly aware that there are many uncertainties in the evolution of the pandemic and external environment, and the foundation for our country’s economic recovery is not yet solid,” said a statement from the three-day summit published by state broadcaster CCTV.Beijing will boost financial support to technological innovation, small business and green projects into the new year in efforts to keep the economy on an even keel, the meeting said.

Source: https://www.thedailystar.net/business/news/chinas-economic-recovery-not-yet-solid-after-pandemic-2014049

ICB approves 10pc dividend

The shareholders of ICB on Saturday approved 5.0 per cent stock and 5.0 per cent cash dividend for the year 2019-2020.The approval came at the 44th Annual General Meeting (AGM) of Investment Corporation of Bangladesh (ICB) held on the day through Digital/Virtual Platform. During FY 2019-2020, ICB earned solo and consolidated (with subsidiaries) net profit of Tk 40.92 crore and Tk. 56.49 crore respectively.

Earlier the Corporation had declared dividend for its Unit Fund @ of Tk 40.00 per Unit Certificate which is highest than any other mutual fund. During the period under review, the Corporation made cumulative investment from beginning to last fiscal year of Tk. 14,557.18 crore in the capital market.

The meeting was presided over by Prof. Dr. Md. Kismatul Ahsan, Chairman, Board of Directors of the Corporation. The meeting was attended by the Managing Director of ICB Mr. Md. Abul Hossain and other Directors of ICB. A large number of shareholders virtually attended the meeting.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/icb-approves-10pc-dividend-1608392199

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 30,179.05
FTSE100$ 6,529.18↓21.88 ↓0.33%
Nikkei 225$ 26,763.39↓43.28↓0.16%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 49.10 ↑ 0.74↑ 1.53%
Crude Oil (Brent)$ 52.26↑ 0.76↓1.48%
Gold Spot$ 1881.35 ↓ 4.07 ↓ 0.22%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 84.8000
GBP 1BDT 114.5733
EUR 1BDT 103.4645
INR 1BDT 1.1524





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