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 28, 2020

Vaccine optimism lifts stocks to 1.5yr high

The benchmark index of the Dhaka Stock Exchange rose to its highest level in the last one and a half years yesterday thanks to the active participation of institutional investors buoyed by the growing rollout of coronavirus vaccines. The DSEX surged 109 points or 2.10 per cent before closing the day at 5,328.27, the highest since July 7 of 2019. Investors, especially institutional investors have been pouring money into the stock market after the UK, and the US started administering vaccination of Covid-19, said a top official of a leading brokerage firm.The UK administered the vaccines on December 8 and the US on December 14. Mass vaccination across the European Union began yesterday.Since December 8, the DSEX rose 279 points, or 5.5 per cent and the turnover almost doubled. The market value of the stocks in the DSE edged up 3.19 per cent, or Tk 13,603 crore to stand at Tk 439,397 crore yesterday. Turnover, an important indicator of the market, rose to Tk 1,521 crore, which was Tk 1,405 crore on the previous day. Yesterday’s turnover was the highest since September 2017. However, the DSE recorded a turnover of Tk 2,543 on June 28, but it was driven by a block trade for changing the ownership of GlaxoSmithKline to Unilever.The stock of Robi touched the circuit breaker on its second day of trading as it rose 50 per cent to Tk22.50 because of higher demand. Newly listed companies are allowed to rise a maximum of 50 per cent a day in the first two trading days, and then the increase is capped at 10 per cent.Beximco Ltd was the most traded stock with shares worth Tk 126 crore changing hands, followed by IFIC, Beximco Pharmaceuticals, Bangladesh Submarine Cables and LafargeHolcim Bangladesh.Insurance stocks are going through a correction after surging 80 to 90 per cent, and this is very normal, he said. Yesterday, Peoples Insurance shed the most of 6.72 per cent followed by Pioneer Insurance, Bangladesh General Insurance, Republic Insurance and Phoenix Insurance.

Source: https://www.thedailystar.net/business/news/vaccine-optimism-lifts-stocks-15yr-high-2018397

Budget execution faces roadblocks

Bangladesh’s external sector came under stress in January after the outbreak of coronavirus disease in China, the country’s largest trading partner, slowed global trade, thus impacting the economy to some extent.Official data showed that the revenue collected by the National Board of Revenue (NBR) rose 3.4 per cent in the July-October period against 3.43 per cent a year ago.The decline in the non-NBR tax collection widened to 18.95 per cent during the four-month period compared to 2.39 per cent last year. Similarly, total expenditure dropped 12.87 per cent in July to October, which was 26.27 per cent in the positive territory in 2019, as the government could not spend much. The implementation of revenue budget was down 2.52 per cent while it was 20.14 per cent in the positive during July to October in the last fiscal year, finance ministry data showed. The pandemic also dealt a major blow to the implementation of the annual development programme (ADP). It plunged 35.06 per cent in the four months, whereas it had risen 48.13 per cent during the same period last year. The budget balance was in surplus of Tk 196 crore from July to October in comparison to a massive deficit of Tk 19,261 crore, year-on-year. Total government spending fell 12.87 per cent in the first four months of the fiscal year as the development expenditure declined 34.57 per cent on the back of slow implementation of the development projects due to the Covid-19 pandemic, the finance ministry said in a report.The excess liquidity in the banking sector stood at Tk 160,979 crore as of August, up 105 per cent year-on-year. Bank borrowing more than halved to Tk 14,008 crore in July to October in FY21 from Tk 33,510 crore a year ago, finance ministry data showed.

Source: https://www.thedailystar.net/business/news/budget-execution-faces-roadblocks-2018385

19 businesses to get president’s industrial dev awards

Nineteen businesses are set to receive the President’s Industrial Development Award 2018 tomorrow from the industries ministry for their quality and contributions to developing this commercial sector of Bangladesh. Industries Minister Nurul Majid Mahmud Humayun as chief guest is scheduled to hand over the crests and certificates among the firms through a programmeat Pan Pacific Sonargaon Dhaka. Among the winners, four are under a large industries category, four under medium, three small, three micro, three cottage and two hi-tech. They scored the highest under a 100-point evaluation system formulated by a special committee. Points were awarded based on annual turnover (12 points), regular revenue deposit (15), domestic raw material use (10), export income and production of import alternatives (10) and labour training and welfare measures (8).Another 5 points were earmarked for each of employment creation, social responsibility, worker safety, environmental protection, new innovation, product quality and efficient organisational management, quality control laboratory, and development and research. British American Tobacco Bangladesh took the top spot under large industry category followed by Incepta Pharmaceuticals in second position and Energypac Engineering and Olympic Industries jointly in third. From among medium industries, Tafrid Cotton Mills came in first, Sheltech Technology and ECHOTEX jointly second and Envoy Fashions third. Under the small industry category, Concept Knitting took the lead followed by APS Design Works and Summit Oil & Shipping Company.

Source: https://www.thedailystar.net/business/news/19-businesses-get-presidents-industrial-dev-awards-2018317

Bank Asia Ltd was awarded 1st Prize for Best Presented Annual Report-2019

Bank Asia Ltd was awarded 1st Prize for Best Presented Annual Report-2019 (Private Sector Banks) among the South Asian Countries along with Bangladesh by South Asian Federation of Accountants (SAFA). The Institute of Chartered Accountants of Sri Lanka organised the prize giving ceremony recently on a virtual platform.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/bank-asia-ltd-was-awarded-1st-prize-for-best-presented-annual-report-2019-private-sector-banks-1609082956

Sonali Bank MD elected BAFEDA chairman

The election of office bearers (Executive Committee) for the two-year term of 2021 and 2022 of Bangladesh Foreign Exchange Dealers’ Association (BAFEDA) was held recently on a digital platform. MdAtaur Rahman Prodhan, CEO and Managing Director, Sonali Bank Limited, was unanimously elected Chairman of BAFEDA. Dr Mohammad Haider Ali Miah. Managing Director and CEO of Export Import Bank of Bangladesh Ltd and MdMahbubulAlam, Managing Director and CEO of Islamic Bank Bangladesh Limited, were elected Vice Chairman and Treasurer of BAFEDA respectively.

Source: https://today.thefinancialexpress.com.bd/trade-market/sonali-bank-md-elected-bafeda-chairman-1609084536

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 30,199.87
FTSE100$ 6,502.11↑6.36 ↑0.10%
Nikkei 225$ 26,840.14↑ 183.53↑0.69%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 48.11 ↓0.12↓0.25%
Crude Oil (Brent)$ 51.12↓0.17↓0.33%
Gold Spot$ 1,894.71↑11.25↑0.60%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 84.8000
GBP 1BDT 114.9210
EUR 1BDT 103.5238
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