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 19, 2023

Bangladesh retains 2nd place in RMG export to EU

Apparel shipments to the European Union (EU) grew 41.76 per cent year-on-year to hit $19.40 billion in the January-October period of 2022, according to data from Eurostat, the statistics department of the EU. With this, Bangladesh retained its position as the second largest garment supplier for the EU after China, which holds a 29.39 per cent share of the trade bloc’s total apparel imports from 27 countries. During the first 10 months of last year, the EU’s imports from China reached $25.49 billion to register growth of 22.43 per cent year-on-year, the data shows. At the same time, imports from Turkey grew 12.82 per cent to stand at $10.12 billion while shipments from India ballooned 23.46 per cent to $4.24 billion. The EU imported $86.74 billion worth of apparels from different sources during the period, indicating growth of 24.41 per cent year-on-year. Among the top suppliers, shipments from Cambodia, Vietnam, Pakistan, Morocco, Sri Lanka and Indonesia increased by 39.69 per cent, 33.05 per cent, 28.55 per cent, 9.59 per cent, 18 per cent and 31.76 per cent respectively. In terms of volume, Bangladesh’s garment exports to the EU ramped up by 27.03 per cent to roughly 1,134 million kilogrammes (kgs) in the January-October of 2022 compared to 892.73 million kgs the year before.

Source: https://www.thedailystar.net/business/economy/news/bangladesh-retains-2nd-place-rmg-export-eu-3224956

Cashless BD campaign starts in Dhaka

The Bangladesh Bank (BB) launched ‘Cashless Bangladesh, Smart Bangladesh’ campaign from the capital’s Motijheel area on Wednesday to bring small/micro merchants, like street vendors, under a low-cost payment system. The campaign is part of the idea to popularise an interoperable Bangla QR Code across the capital that will help clients pay their bills for goods and services through mobile banking applications, mobile financial services (MFS), and payment service providers (PSP). Initially, the initiative will cover some 1,200 small merchants in the capital’s Motijheel commercial area. Later, it will be replicated in other areas of the country in phases. The central bank’s campaign will promote cost-effective, secured and card-less digital transactions in an economy that almost entirely relies on paper currencies. Ten banks, three MFS providers, and three card-based PSPs are taking part in it. When contacted, BB spokesperson Md Mezbaul Haque said people in many cases clear payment of their purchased goods through MFS as well as debit and credit cards. But a significant investment is required to develop digital payment infrastructure and maintain those. “It is too costly for the small merchants. That’s why digital payment system has not progressed yet at the remote level.”

Source: https://thefinancialexpress.com.bd/economy/cashless-bd-campaign-starts-in-dhaka-1674098317

Gas shock for industries

The government hiked gas prices on Wednesday by a staggering 179%, with an eye on eliminating subsidies and cutting the fiscal deficit. The massive hike left industry leaders and energy experts stunned which comes just a few days after an increase in electricity prices. Within a span of just six days, the government used its newly-acquired power – that allows it to set all kinds of energy prices bypassing the regulator’s jurisdiction at any time – to hike gas prices without any public hearing for the second time. The announcement for the gas price hike came on the concluding day of the five-day Dhaka visit by International Monetary Fund Deputy Managing Director Antoinette Monsio Sayeh. In November last year, following a meeting with an IMF delegation, Bangladesh Bank Governor Abdur Rouf Talukder had acknowledged that they got the suggestion for reducing subsidy on gas from the international lender. At the time, a finance ministry official, seeking anonymity, told The Business Standard that the IMF had set conditions for raising prices of electricity and gas alongside reducing subsidies. There have been talks about meeting the conditions before the first instalment is disbursed, the source said.

Source: https://www.tbsnews.net/bangladesh/energy/gas-shock-industries-570258

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
↑ 613.89 ↑ 1.81%
FTSE100$7,830.70↓ 20.33 ↓ 0.26%
Nikkei 225$26,406.65 ↓ 384.47↓ 1.44%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$78.21↓ 1.27↓ 1.60%
Crude Oil (Brent)$83.85 ↓ 1.13↓ 1.33%
Gold Spot$1,909.79 ↑ 5.68↑ 0.30%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 107.0000
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