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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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Daily Business News Flash December 20, 2023

Bangladesh’s remittance expected to reach $23 billion in 2023: World Bank

The remittance flow to Bangladesh is expected to reach $23 billion in 2023, according to a report of the World Bank. Currently, remittance is growing at 7 percent, said the Migration and Development Brief of the Global Knowledge Partnership on Migration and Development (KNOMAD), which is part of the Washington-based lender. The flows are projected to remain at $23 billion in 2024. The report said the growth in formal remittances is projected to remain flat on account of the lingering impacts of the recent balance of payment crisis that triggered exchange controls and led to parallel market exchange rate premia. Depreciation and exchange rate management policies have led migrants in countries such as Bangladesh to take advantage of the black-market premia and transfer funds through informal and formal channels.

Source: https://www.thedailystar.net/business/economy/news/bangladeshs-remittance-expected-reach-23-billion-2023-world-bank-3498186

Rooftop solar power promises $1b savings a year

A 2,000-megawatt new rooftop solar capacity could help Bangladesh save between $476 million and $1 billion annually, according to a study of the Institute for Energy Economics and Financial Analysis (IEEFA). Currently, the installed rooftop solar capacity stands at 160.63 MW. The study calculated the levelised cost of energy (LCOE) from 1 MW rooftop solar without a battery storage facility at Tk 5 ($0.046) per kilowatt-hour (kWh) against the electricity tariffs of Tk 9.9 ($0.09) and Tk 10.55 ($0.096) for industrial and commercial buildings, respectively. The institute has considered a tariff of Tk 18.68 per kWh for furnace oil-based plants and Tk 39.4 for diesel-fired units. This could yield annual savings of $476 million for the former and $1 billion for the latter, according to Shafiqul Alam, the lead analyst of the study.

Source: https://www.thedailystar.net/business/news/rooftop-solar-power-promises-1b-savings-year-3497726

Meghna Group of Industries set to get 4th economic zone, highest among business groups

The Meghna Group of Industries will be getting the fourth economic zone (EZ) — the highest among local business groups. The Bangladesh Economic Zones Authority (Beza) will sign a pre-qualification licence agreement with the Meghna Group to this effect in the capital today. The Meghna Group expects a new investment of $3 billion in the new economic zone, named Titas Economic Zone (TEZ). Currently there are three economic zones under the Meghna Group. Of them, domestic and foreign industries are producing products at Meghna Industrial Economic Zone (Miez) and Meghna Economic Zone (Mez) while Cumilla Economic Zone (CEZ) is ready for handover to investors.

Source: https://www.tbsnews.net/economy/meghna-set-get-4th-economic-zone-highest-among-business-groups-760850

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 37,557.92
↑ 251.90↑ 0.68 %
FTSE100$ 7,638.03↑ 23.55 ↑ 0.31 %
Nikkei 225$ 33,744.10↑ 524.71↑ 1.58 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 73.89↓ 0.05↓ 0.07 %
Crude Oil (Brent)$ 79.12↓ 0.11↓ 0.14 %
Gold Spot$ 2,040.44↑ 0.09↑ 0.00 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
CurrencyLowestHighest
USD 1BDT 110.0000
BDT 110.0000

*World Commodities & Local and Global Stock Indices data are taken from bloomberg.com<

* Exchange Rates are taken from BB website, as on latest update.<

AN IMPORTANT MESSAGE FROM

EMRANUL HUQ

MANAGING DIRECTOR & CEO OF DHAKA BANK LIMITED

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.

YOUR SAFETY MEANS EVERYTHING TO US
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.

WE WILL TAKE CARE OF YOUR BANKING NEEDS
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.

GET IN TOUCH IF YOU ARE IN EXTREME EMERGENCY
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.

WE WILL FREQUENTLY UPDATE YOU
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

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