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

Click to Close

Rate last updated: 02/01/2014 11:15:04 AM

Daily Business News Flash February 03, 2022

Exports surge 41pc in Jan

Earnings from merchandise exports from Bangladesh surged 41.13 per cent year-on-year to $4.85 billion in January, the second-highest single month receipts, on the back of rebounding garment shipments. Shipments soared 30.34 per cent year-on-year to $29.54 billion in the first seven months of the current fiscal year, data from the Export Promotion Bureau (EPB) showed yesterday.Exports from Bangladesh are hovering around higher levels as western economies are turning around from the severe fallouts of the coronavirus pandemic. In December, exporters raked in $4.9 billion, an all-time single-month high.The takings were $4.16 billion in September, $4.72 billion in October, and $4.04 billion in November, thanks to the government’s bold decision to allow factories to run most of the time during the pandemic, as it fetched more orders. As usual, apparel shipments, which account for about 85 per cent of the national overseas earnings, contributed to the higher receipts in January. Garments brought home $4.09 billion in the month, up 42.5 per cent from the $2.87 billion posted in the same month a year ago.Apparel shipments swelled 30.3 per cent to $23.98 billion during the July-January period. Of the sum, $13.27 billion came from knitwear shipments, up 32.89 per cent year-on-year, and $10.71 billion from woven exports, an increase of 27.23 per cent.Non-leather footwear exports was up 25.84 per cent to $249 million, cotton yarn and fabrics grew by 45.79 per cent to $127.49 million, terry towel by 25.10 per cent to $29.16 million and home textile by 30.01 per cent to $831.31 million, according to the EPB.However, jute and jute goods, a promising export item, did not fare well as shipments declined 9.13 per cent to $695.73 million during the seven-month period.

Source: https://www.thedailystar.net/business/economy/news/exports-surge-41pc-jan-2953331

 Listed textile makers’ profits more than double

Listed textile manufacturers logged a staggering 152 per cent higher profits year-on-year in the October to December period of the current financial year of 2021-22. Analysts reason higher yarn prices, unexpended stocks of cotton, higher exports and devaluation of the local currency against the dollar.Among the 58 listed textile and garment companies, 44 properly disclosed their earnings data for the last two years. The total profits of the 44 companies rose to Tk 250 crore in the second quarter of the financial year while it was Tk 99 crore in the same period of the previous year.In the 2021 calendar year, Bangladesh imported 8.5 million bales of cotton, spending more than $3 billion. One bale equals 480 pounds or 218 kilogrammes (kg). The price of the widely consumed 30 carded yarn had increased to $4.71 per kg in December last year while it was $3.9 per kg a year ago.Between July and December, the first six months of the current fiscal year, garment exports grew by 28.02 per cent year-on-year to $19.90 billion.The interbank exchange rate hit a record high of Tk 86 per dollar on January 10, according to central bank data. The local currency is trading at more than Tk 90 per USD in the kerb market.

Source: https://www.thedailystar.net/business/economy/news/listed-textile-makers-profits-more-double-2953286

DSEX gets past 7000 mark

Stocks extended rally for the second straight session on Wednesday, with the key index of the main bourse crossing 7,000-mark after three days. The market opened on a high note and the core index rose about 58 points within the first hour of trading. But the morning optimism later wiped out most of the early gains as the cautious investors went for profit booking. Finally, DSEX, the core index of the Dhaka Stock Exchange (DSE), went up by19.15 points or 0.27 per cent to settle at 7,016. The benchmark index added over 90 points in the past two trading days.Stocks kept the winning streak pushed by investors’ buying spree as they cheered over better earnings growth reported by companies in their most recent quarterly earnings reports, said EBL Securities. Two other indices also edged higher with the DS30 index, comprising blue chips, rising 4.20 points to finish at 2,592 and the DSE Shariah Index gaining 6.50 points to close at 1,503. Turnover, an important indicator of the market, stood at Tk 12.66 billion, which was 6.36 per cent lower than the previous day’s tally of Tk 13.52 billion.The Chittagong Stock Exchange also ended marginally higher with its All Shares Price Index (CASPI) rising 43 points to close at 20,566 while the Selective Categories Index – CSCX– gained 24 points to close at 12,353.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/dsex-gets-past-7000-mark-1643823877

Four firms get nod to invest abroad

The Bangladesh Bank has given permission to four private business entities to invest $10 million in foreign countries, in a major leap forward for reining in capital flight alongside easing global marketing of local products. One of the permitted companies, Square Pharmaceuticals Limited, a subsidiary of Square Group, will invest $1 million in The Philippines, opening up an opportunity for the company to gain a foothold in the import-dependent $6 billion pharmaceutical market – the third largest in the Asean region. Square looks to get hold of the $30 million drug market in Kenya and five other East African countries – Tanzania, Rwanda, Burundi, Uganda and South Sudan – and fulfil the unmet demands of medicines in those countries.Renata Pharmaceuticals, is going to invest $2 million in Ireland as part of increasing the paid-up capital in its already established subsidiary. The approval for this equity investment will allow the drug-maker to sell its medicines directly instead of hiring a third party.On the other hand, Venture Capital Limited sought permission to invest $10,000 to acquire 0.85% stake in BrioAgro, a Spanish agro-tech based startup. 

Source: https://www.tbsnews.net/economy/four-firms-get-nod-invest-abroad-365731

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 35,629.33
FTSE100$ 7,583.00↑47.22↑0.63%
Nikkei 225$ 27,248.39↓285.21↓1.04 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 87.82 ↓0.44↓0.50 %
Crude Oil (Brent)$ 89.18↓0.29↓0.32 %
Gold Spot$ 1,806.65↓0.15↓0.01%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 86.00
GBP 1BDT 116.2978
EUR 1BDT 96.9478





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