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 27, 2022

Garment exporters see moderate recovery in 2023

Local apparel suppliers are expecting moderate recovery in exports in the upcoming year as sales in the Western world are gradually gaining pace with a new normal arising from the Russia-Ukraine war and falling prices of petroleum products. This in turn is causing inflationary pressure in the Western world to subside gradually, effectively leaving more money in the pockets of the consumers, enabling them to start spending behind the purchase of clothing items. One variant of the crude oil was selling at $79.56 per barrel in international markets yesterday whereas it had surpassed $123 at one point in the outgoing year because of the severe fallout of the war. As a result, Christmas sales were also upbeat, with old stockpiles of clothing of international retailers and brands worth billions of US dollars being sold off. This has prompted international clothing retailers and brands to start coming up with new work orders for factories and make inquiries for future purchases. November retail sales dipped from a surge of early holiday shopping the month before but still saw solid year-over-year growth that marked a strong start to the holiday season, according to the US-based National Retail Federation (NRF). The trade association contributes $3.9 trillion to the annual GDP of the US and supports one in four US jobs – 52 million working Americans.

Source: https://www.thedailystar.net/business/economy/news/garment-exporters-see-moderate-recovery-2023-3205941

Revenue collection posts 13.06pc growth in July-Nov

The revenue collection by the National Board of Revenue (NBR) witnessed a healthy growth of 13.06 per cent in the first five months (July-November) of the current fiscal year (FY23) fetching Tk 1.15 trillion. The revenue collection by the revenue board during the July-November period of the last fiscal year (FY22) was Tk 1.02 trillion. According to NBR, the revenue collection during this five-month period from customs totalled Tk 380.6 billion, from VAT Tk 0.44 trillion and from income tax and travel tax Tk 0.33 trillion, reports BSS. The NBR data also showed that revenue collection from customs increased by 12.54 per cent during this July-November period as the revenue collection from such sector was Tk 0.33 trillion in July-November last year. Besides, the revenue collection from VAT in this July-November enjoyed a 16.18 per cent growth as Tk 0.38 trillion were collected from VAT in July-November last year.

Source: https://thefinancialexpress.com.bd/economy/revenue-collection-posts-1306pc-growth-in-july-nov-1672068220

Bangladesh signs $628.29m loan deal with ADB

The Asian Development Bank (ADB) and the government have signed loan agreements worth $628.29 million for the implementation of development, urban transport and climate resilience projects. Sharifa Khan, secretary, Economic Relations Division (ERD), and Jiangbo Ning, deputy country director and officer-in-charge of Bangladesh resident mission, ADB, signed the agreements on behalf of their respective organisations on Monday, reports BSS citing a press release. The release said ADB will provide $278.29 million in loan for ‘Third Public-Private Infrastructure Development Facility – Tranche 2, $100 million for ‘Greater Dhaka Sustainable Urban Transport Project (BRT- Gazipur), $246 million for ‘Coastal Towns Climate Resilience Project’ and a grant of $4 million for the ‘Coastal Towns Climate Resilience Project’. Alamgir Morshed, executive director and CEO of Infrastructure Development Company Limited (IDCOL); Quazi Muhammad Ferdous, chief engineer of Bangladesh Bridges Authority, nominated representatives of designated municipalities and Jiangbo Ning, deputy country director and officer-in-charge of Bangladesh resident mission, ADB, signed the respective project agreements.

Source: https://thefinancialexpress.com.bd/economy/bangladesh-signs-62829m-loan-deal-with-adb-1672059933

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 33,203.93
↑ 176.44 ↑ 0.53%
FTSE100$ 7,473.01 ↑ 3.73↑ 0.05%
Nikkei 225$ 26,478.88 ↑ 73.01↑ 0.28%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 80.06 ↑ 0.50↓ 0.63%
Crude Oil (Brent)$ 84.46 ↑ 0.54 ↑ 0.64%
Gold Spot$ 1,804.83 ↑ 6.63↑ 0.37%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 102.0000
BDT 103.0900

*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