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 11, 2024

Bangladesh to post 2nd highest GDP growth in South Asia in FY24

Bangladesh will post the second-highest economic growth in South Asia in the current financial year although it will be much lower than its average in recent times and the target set by the government as pressures on the economy linger. According to the World Bank’s Global Economic Prospects report released yesterday, the country’s gross domestic product expansion is forecast to slow to 5.6 percent in 2023-24, unchanged from its October update. The government has decided to revise its GDP growth goal downwards to 6.5 percent for FY24 from the 7.5 percent initially set since the factors that caused the GDP growth to decelerate to 6 percent in 2022-23 such as import restrictions and higher material and energy costs, as well as external and financial pressures, persist.

Source: https://www.thedailystar.net/business/economy/news/bangladesh-post-2nd-highest-gdp-growth-south-asia-fy24-3516196

Olympic Industries’ sales cross Tk 2,500cr

Biscuits and confectionary sales of Olympic Industries have crossed Tk 2,500 crore for the first time in its history, thanks to rising demand for packaged bakery and confectionery items. According to the largest biscuit and confectionary seller of Bangladesh, its total sales revenue rose 20.2 percent year-on-year to Tk 2,579 crore in fiscal year 2022-23. Of the amount, Tk 2,536 crore came from selling biscuits, confectionery, bakery and snack products. This includes exports worth Tk 26 crore. Although its revenue was higher than that in fiscal year 2021-22, the amount of biscuits, confectionery, bakery and snack products sold, however, dropped 8.34 percent to 118,706 tonnes. The company’s profits swelled 29 percent year-on-year to Tk 155.6 crore in fiscal year 2022-23.

Source: https://www.thedailystar.net/business/economy/news/olympics-sales-cross-tk-2500cr-3516191

Dhaka bourse gains, driven by 12 blue-chip stocks

The Dhaka bourse on Wednesday bounced back after a single-day break, supported by increased participation by optimistic investors. After five consecutive sessions, the Dhaka Stock Exchange (DSE) featured a turnover of more than Tk 5 billion, as many investors demonstrated increased buying appetite on sector specific stocks. The conspicuous sign of improvement was price appreciation of 12 blue-chip stocks, including Square Pharmaceuticals, Heidelberg Cement, LafargeHolcim Bangladesh, and Eastern Bank. Following the stocks’ price increases, the DS30 index also closed marginally higher. The sectors which were on the top of price appreciation included travel & leisure, IT, services & real estate, and mutual funds. Emerald Oil Industries was the day’s number one gainer with a rise of 10 per cent, while Standard Ceramic Industries was the worst loser after declining 2.41 per cent. BD Thai experienced the highest participation from investors and topped the list of the most-traded stocks, with a trade volume of Tk 231 million, followed by Sea Pearl Beach Resort & Spa and Orion Infusion. Of 164 issues traded on the Chittagong Stock Exchange (CSE), 69 advanced, 26 declined and 69 were unchanged.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/dhaka-bourse-gains-driven-by-12-blue-chip-stocks-1704911017

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 37,695.73
↑ 170.57↑ 0.45 %
FTSE100$ 7,651.76↓ 32.20↓ 0.42 %
Nikkei 225$ 35,083.44↑ 641.72↑ 1.86 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 71.63↑ 0.26↑ 0.36 %
Crude Oil (Brent)$ 77.10↑ 0.30↑ 0.39 %
Gold Spot$ 2,031.55↑ 7.14↑ 0.35 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 110.0000
BDT 110.0000

*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