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 January 10, 2023

Bangladesh working to implement IMF conditions to get $4.5b loan

Bangladesh government is working to gradually implement almost all conditions of the International Monetary Fund (IMF) to get a US$4.5 billion loan from the Washington-based lender, to meet the foreign exchange crisis, said a senior official of the finance ministry on Monday. As per the conditions, Bangladesh Bank (BB) will leave control of the Bangladesh currency’s exchange rate with the US dollar to the floating market. The BB also includes allowing the private sector to import fuel and increasing electricity prices at the retail level, reports UNB. Besides, a long-term plan will be made to make the prices of imported goods, including energy products, use-based and to increase the tax-GDP ratio. A decision has already been taken from the highest level of the government regarding the implementation of these conditions, said the official speaking on condition of anonymity as he is not authorised to talk to the media. The IMF has suggested major reforms in the banking sector. However, the government is yet to take any major steps in this regard. Rather the government instructed the central bank to initiate a limited phase of the reform process. Bangladesh has sought a loan of $4.5 billion from the IMF to deal with the global recession and the negative impact on the country’s overall economy and the foreign exchange crisis. An IMF mission visited Bangladesh from October 26 to November 9 to discuss the loan issue.

Source: https://thefinancialexpress.com.bd/economy/bangladesh-working-to-implement-imf-conditions-to-get-45b-loan-1673272603

Bangladesh expands cargo carrying capacity by sea

Bangladesh’s entrepreneurs, encouraged by prospects, tax and VAT benefits, expanded their capacity in oceangoing shipping sector, with the total number of vessels rising to 91, the highest so far, at the end of 2022 from 80 ships a year ago. With the increase, oceangoing ships now have a carrying capacity of nearly 30 lakh tonnes, said industry insiders yesterday. Tax exemption on income earned by oceangoing vessels carrying the Bangladeshi flag until 2030 and value added tax (VAT) exemption on the import of vessels of up to 25 years old attracted investment in the sector over the last couple of years.

Source: https://www.thedailystar.net/business/economy/news/bangladesh-expands-cargo-carrying-capacity-sea-3216916

Sending workers to Japan rises

Two of the government’s 28 Covid-19 stimulus packages saw a fresh injection of Tk 50,000 crore in the ongoing financial year, but only 4 per cent of the fund was disbursed between July and October. The two packages each aimed at providing working capital to large industries and service sector firms and cottage, micro, small, and medium enterprises (CMSMEs) saw a collective disbursement of Tk 2,151 crore as of October, according to a finance ministry report. Officials said many of the borrowers who already took loans under the stimulus packages in the previous two rounds have not paid back. So, they have not qualified for fresh loans from the allocations made in the latest round.

Source: https://www.thedailystar.net/business/economy/news/stimulus-large-small-industries-tk-50000cr-fresh-funds-see-tepid-disbursement-3215996

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 33,630.61
↑ 700.53 ↑ 2.13%
FTSE100$ 7,699.49↑ 66.04↑ 0.87%
Nikkei 225$ 25,973.85 ↑ 153.05↑ 0.59%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 74.78 ↑ 1.01↑ 1.37%
Crude Oil (Brent)$ 79.57 ↑ 1.00 ↑ 1.27%
Gold Spot$ 1,875.16↑ 9.47↑ 0.51%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 105.9000
BDT 107.0000

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

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




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