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 15, 2023

BB unveils crucial MPS today: Main thrust to be on inflation control

Relaxing rate caps comes as a predominant suggestion as the central bank is set to launch today a new monetary-policy stance within a space squeezed by higher inflation, banks’ liquidity crunch and global uncertainty. In the prevailing ambiance, Bangladesh Bank Governor Abdur Rouf Talukder walks a tightrope in balancing so many heterogeneous monetary and financial factors in the half-yearly monetary policy statement or MPS. As such, the latest stances on money management may remain almost unchanged, people familiar with the matter told the FE, notwithstanding some economists’ views for relaxing the interest-rate caps. The Bangladesh Bank Governor will announce the monetary policy at 3:00 pm at Jahangir Alam Conference Hall of the central bank, Md Mezbaul Hoque, executive director and spokesperson for the central bank, told The Financial Express. However, it is anticipated that the monetary policy will prioritize controlling the stinging inflation and attaining the GDP target with policy intervention. Economists note that the monetary policy is going to be rolled out at a time when the global and domestic economies have been passing through hard times. They welcome the switching back to half-year monetary stances as they think it will give some signals on the money market.

Source: https://thefinancialexpress.com.bd/economy/bb-unveils-crucial-mps-today-main-thrust-to-be-on-inflation-control-1673751140

Bangladesh moves up 14 notches

Bangladesh has advanced 14 spots in the Global Innovation Index (GII) 2022 in a major stride but it still lags behind some of its innovative peers. The ranking by the United Nations’ World Intellectual Property Organization (WIPO) placed the country at 102nd last year, up from 116th in 2021, among 132 economies. Although Bangladesh’s overall score was 19.7 compared to top-ranked Switzerland’s 64.6, its performance was in line with the level of the country’s development, according to the report. The lower ranking, however, highlights Bangladesh’s weak education system, lack of human capital and research, and shortfall in business sophistication. The index uses various indicators to rank innovation. They include measures on the political environment, education, infrastructure and knowledge creation. Bangladesh performs relatively well in the creative output category, advancing to 87th place from 123rd a year earlier, driven by its solid progress in industrial design, global brand value, and mobile app creation. In the institution category, Bangladesh moved up 13 notches to 109th and slipped one spot to 112th position in the political environment segment.

Source: https://www.thedailystar.net/business/economy/news/bangladesh-moves-14-notches-3221211

IMF deputy managing director in Dhaka to finalise $4.5b loan

The deputy managing director (DMD) of the International Monetary Fund (IMF), Antoinette Monsio Sayeh, arrived in the capital on Saturday for a five-day visit. The high IMF official will stay in the capital till January 18. During her visit, Sayeh will meet with the prime minister, finance minister, governor of Bangladesh Bank and other senior officials of the government, according to BSS. Finance Ministry officials said Sayeh came to Dhaka from Delhi after completing her Indian visit. The IMF deputy managing director is scheduled to meet Prime Minister Sheikh Hasina on January 16. The IMF DMD will visit Padma Bridge on January 18. Sayeh will report to the IMF headquarters regarding the $4.5 billion loan for Bangladesh to combat the global recession and other situations arising from the current global condition. The report will be presented before the IMF board meeting. Based on this, the process of providing the loan will be finalized. The government has reached an in-principle agreement on the loan with the IMF. Now, only the formalities are waiting for completion.

Source: https://thefinancialexpress.com.bd/economy/imf-deputy-managing-director-in-dhaka-to-finalise-45b-loan-1673705865

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 34,302.61
↑ 112.64 ↑ 0.33%
FTSE100$ 7,844.07↑ 50.03 ↑ 0.64%
Nikkei 225$ 26,119.52 ↓ 330.30↓ 1.25%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 79.86 ↑ 1.47↑ 1.88%
Crude Oil (Brent)$ 85.28 ↑ 1.25↑ 1.49%
Gold Spot$ 1,920.23 ↑ 23.14↑ 1.22%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 104.0600
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