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 01, 2022

Remittances to lower income countries ease in 2022: WB

Cash transfers to low- and middle-income countries eased this year, with rising prices taking a toll on migrants’ incomes, the World Bank said Wednesday. Remittances to lower-income countries rose around five percent to $626 billion, lower than the 10.2 percent jump in 2021, the bank added in a report. While the reopening of economies as the pandemic receded helped with employment, rising costs “adversely affected migrants’ real incomes,” the Washington-based development lender said. And in 2023, the increase of such remittance flows is projected to slow further to two percent, as GDP growth in wealthier countries moderates. “Downside risks remain substantial, including a further deterioration of the war in Ukraine, volatile oil prices and currency exchange rates, and a deeper-than-expected downturn in major high-income countries,” said the World Bank in its report. Meanwhile, rising oil prices and continued demand for migrant workers boosted remittances to Central Asian countries, while the ruble’s appreciation against the US dollar translated into higher value of outward transfers.

Source: https://www.thedailystar.net/business/economy/news/remittances-lower-income-countries-ease-2022-wb-3184446

DSEX bounces back at the end of a volatile month

Stocks spiraling down over a volatile November gained momentum in the last two consecutive sessions as bargain hunters cautiously tried to bag some oversold shares. Hitting a 15-week low of 6,173 on Tuesday morning, DSEX, the broad-based index of the Dhaka Stock Exchange (DSE) bounced back on the same day continuing its slow recovery till the closing bell on Wednesday, to a nine-day high of 6,235. Daily turnover had dropped to Tk300-400 crore in a bearish market that left more and more stocks stuck on the floor. But in the last session of the month, turnover increased 34.5% to Tk449.4 crore as many investors bought some large-cap stocks at or slightly above the floor price.

Source: https://www.tbsnews.net/economy/stocks/dsex-bounces-back-end-volatile-month-542522

Investors staying away from banking stocks

Once one of the most sought-after securities, banking stocks in Bangladesh are now struggling as investors have stayed away from them for the last couple of months due to a lack of trust in their financial reports, escalating non-performing loans and alleged irregularities. Just two years back, banking stocks regularly accounted for more than 10 per cent of the market’s total turnover of the Dhaka Stock Exchange (DSE). It has now dropped to around 3 per cent. The overall stock market has been gloomy for several months because of the global economic uncertainty, higher inflation and the volatility in the foreign exchange market. “Now banking stocks are facing the worst and are unable to attract investors,” said a top official of an asset management company.

Source: https://www.thedailystar.net/business/economy/news/investors-staying-away-banking-stocks-3184301

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 34,589.77
↑ 737.24↑ 2.18%
FTSE100$ 7,573.05↑ 61.05 ↑ 0.81%
Nikkei 225$ 28,267.39↑ 298.40↑ 1.07%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 80.43↓ 0.12↓ 0.15%
Crude Oil (Brent)$ 85.43 ↑ 2.40↑ 2.89%
Gold Spot$1,780.22 ↑ 11.69↑ 0.66%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 101.0000
BDT 103.6000

*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