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 25, 2022

$1.58b FDI in the offing for shipbuilding

Govt plans to set up shipyard in Payra

The government looks to set up a shipbuilding facility in partnership with foreign investors at the Payra seaport in Patuakhali with an investment of $1.58 billion to cut import dependence for vessels and market ships globally.

State-run Bangladesh Steel and Engineering Corporation (BSEC) under the industries ministry will provide land to Gentium Solutions, a Singapore and Australia-based company and Damen Shipyards Group, a Dutch company, to construct the shipyard, which will make merchant and passenger ships.

“If the project is implemented, it will be the highest-ever foreign direct investment (FDI) in Bangladesh,” said the ministry in a press release.

In August 2018, Japan Tobacco International acquired local Akij Group’s tobacco business for $1.47 billion, the single largest FDI in Bangladesh so far. The disclosure comes after representatives from Gentium Solutions and Damen Shipyards Group presented a feasibility report for developing the shipbuilding and repair facility to the ministry where Industries Minister Nurul Majid Mahmud Humayun was present.

Gentium Solutions and Damen prepared the feasibility report after signing a memorandum of understanding (MOU) with BSEC in 2020. The report found the prospect of shipbuilding in Bangladesh. The country already makes vessels for local and foreign buyers thanks to the presence of nearly 200 small and large shipbuilding yards. Annually, Bangladesh has a $1 billion local market for shipbuilding, said the report, adding that the global market for shipbuilding stood at $192 billion in 2019 with South Korea, China and Japan holding most of the market share.

Source: https://www.thedailystar.net/business/economy/news/158b-fdi-the-offing-shipbuilding-2946696

Particle board market gains traction

The market for particle board is thriving in Bangladesh on the back of the rising demand for timber-alternative furniture and their growing use in interior designing. The demand for particle board, which is cheaper and eco-friendly than wooden ones, has been increasing around 15 to 18 per cent per year since 2017, thanks to rapid urbanisation and the growing housing sector, according to Fazle Rabbi, head of marketing of Partex Star Group, one of top particle board manufacturers in Bangladesh.

A particle board is a timber substitute, made of wood chips. It is used in interior decoration, furniture, door and door frames, partitions, false ceilings, shelves and panels for use at homes, offices and commercial establishments. There are several types of particle boards produced in the country: melamine, ply board, plain board, veneered bard, and PVC board. MDF board is imported from Malaysia. Melamine board accounts for around 60 per cent of the market on the account of its higher usage among corporate, furniture and residential segments. Manufacturers use locally available raw materials such as wastage of timber and jute stick as the major ingredients for making particle board.

The market size has reached Tk 3,000 crore, including Tk 480 crore spent on importing MDF board, according to an industry estimate. Although there is no reliable data, industry people say around Tk 10,000 crore has been invested in the industry by 15 to 16 big and small-sized factories. Major manufacturers are Akij Particle Board Mills, Star Particle Board Mills, Super Particle Board Mills, MRS Industries, Amber Boards, Multi Panels, Woodland Plywood & Particle Board Mills, Bengal Plywood Mills, Otobi, Diamond Particle Board Mills, and Maya Particle Board Mills.

Source: https://www.thedailystar.net/business/economy/news/particle-board-market-gains-traction-2946676

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 34,364.50
↑ 99.13↑ 0.29 %
FTSE100$ 7,297.15↓ 196.98↓ 1.02 %
Nikkei 225$ 27,068.91↓ 519.46↓ 1.88 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 83.65 ↑ 0.34↑ 0.41 %
Crude Oil (Brent)$ 86.76↑ 0.49↑ 0.57 %
Gold Spot$ 1,842.51↓ 0.55↓ 0.03 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 86.00
GBP 1BDT 116.5988
EUR 1BDT 97.5584





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,

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Managing Director & CEO
Dhaka Bank Limited