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 27, 2021

Economy will return to high growth path next fiscal year: UN

Bangladesh’s economy will return to the high growth trajectory in the next fiscal year overcoming the scarring impacts of the coronavirus pandemic, according to a United Nations report. The country’s gross domestic product (GDP) will grow by 7.6 per cent in the fiscal year of 2021-22 following a 5.1 per cent expansion in the current fiscal year, said the World Economic Situation and Prospects 2021 report produced by the United Nations Department of Economic and Social Affairs. The UN forecast is higher than the projection made by the World Bank and is in line with that of the International Monetary Fund (IMF). The WB has said Bangladesh’s economy will expand by 3.4 per cent in the FY22 from 1.6 per cent in the current fiscal year. The IMF has forecast 7.9 per cent growth in the FY22. The government has lowered the GDP growth projection for the current fiscal year to 7.4 per cent taking into account the fallouts of the coronavirus pandemic. Several South Asian countries ran fiscal deficits of about 10 per cent of GDP in 2020, and government debt is forecast to grow significantly for most countries. economic diversification is low or minimal in many South Asian economies, with the near single-trade economies of Bangladesh (garments), Iran (oil) and the Maldives (tourism) especially exposed to external demand shocks. Garment shipment accounts for more than 80 per cent of annual exports of Bangladesh.

Source: https://www.thedailystar.net/business/news/economy-will-return-high-growth-path-next-fiscal-year-un-2034569

Stocks fall, Beximco companies end rally amid profit taking

Concerns of Beximco Group witnessed corrections yesterday after leading from the front to raise the benchmark index of the Dhaka Stock Exchange (DSE) to a three year high just a week ago. DSEX, the benchmark index of the DSE, dropped 94.55 points, or 1.63 per cent, to 5,695 yesterday. Stock prices of Beximco Limited, whose paid-up capital is Tk 876 crore, fell 8.1 per cent while Beximco Pharmaceuticals with a paid-up capital of Tk 446 crore dropped 4 per cent. IFIC Bank, which has a paid-up capital of Tk 1,619 crore, fell 2.84 per cent and Shinepukur Ceramics, another listed concern of Beximco Group, declined 8.39 per cent. It has a paid-up capital of Tk 146 crore. Among the 49 listed insurance companies, only 8 rose while 37 dropped. The regulator fixed the interest rate on margin loans at no higher than 12 per cent, and the trigger sales came as a result. Turnover, one of the important indicators of the market, fell 29 per cent to Tk 1,125 crore. Beximco topped the turnover list, trading shares worth Tk 142 crore followed by Energypac Power Generation, Robi Axiata, LankaBangla Finance, and Beximco Pharmaceuticals. Jute Spinners topped the gainers’ list, rising 7.53 per cent followed by Agrani Insurance, BATBC, Daffodil Computers, and Green Delta Mutual Fund. Energypac Power Generation shed the most, falling 9.93 per cent followed by Shinepukur Ceramics, Beximco, Robi Axiata and Midas Financing. The port city bourse also dropped. The general index of the Chittagong Stock Exchange (CSE), CASPI, fell 299 points, or 1.77 per cent to 16,578 yesterday.

Source: https://www.thedailystar.net/business/news/stocks-fall-beximco-companies-end-rally-amid-profit-taking-2034553

NRB Commercial Bank’s IPO subscription begins Feb 3

The subscription for initial public offering (IPO) of NRB Commercial Bank is set to start from February 3 and it will continue until February 9, which will remain open for all kinds of investors. The fourth generation bank, which will raise Tk 120 crore through the IPO, is the first private commercial bank in the last 12 years to get listed with the stock market. Earlier in 2008, First Security Islami Bank got listed with the stock market. NRB Commercial, a private commercial bank, will issue 12 crore ordinary shares at a face value of Tk 10 each. With the IPO proceeds, the bank will use Tk 110 crore to buy government securities, Tk 6 crore in the secondary market for buying shares and the rest for IPO related expenses. The bank’s weighted average earnings per share for the last five years and net asset value per share were Tk 1.55 and Tk 13.86 respectively as of June 30, 2020. The bank has been booking higher profits for the last few years. Its gross profit rose 22 per cent year-on-year to Tk 323 crore in 2020, according to the banks’ financial statements. The bank established on February 20, 2013 had a pre-IPO paid-up capital of Tk 582 crore. The bank has 83 branches across the country till 2020.

Source: https://www.thedailystar.net/business/news/nrb-commercial-banks-ipo-subscription-begins-feb-3-2034529

E-payment of import taxes over Tk 2 lakh a must from July

Business will require to pay import tariff and taxes over Tk 200,000 electronically from the first day of July this year as the National Board of Revenue (NBR) is gradually automating customs systems in order to provide faster service and bring about transparency. The NBR made payments of import tariffs and taxes totalling more than Tk 2 lakh compulsory from April 1 this year for businesses who bring goods through Customs House, ICD Dhaka. And so, e-payments for import duties and taxes of over Tk 2 lakh will be made compulsory for the rest of the customs houses from July this year. The duty that has been exempted would have been added to the total revenue collected and Bangladesh’s revenue-GDP ratio would have been higher in that case. Bangladesh’s tax-GDP ratio is less than 10 per cent.

Source: https://www.thedailystar.net/business/news/e-payment-import-taxes-over-tk-2-lakh-must-july-2034541

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 30,937.04
↓ 22.96 ↓ 0.07 %
FTSE100$ 6,654.01↑ 15.16 ↑ 0.23 %
Nikkei 225$ 28,631.70 ↑ 85.52↑ 0.30 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 52.84↑ 0.23↑ 0.44 %
Crude Oil (Brent)$ 56.14↑ 0.23↑ 0.41 %
Gold Spot$ 1,845.59↓ 5.33↓ 0.29 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 84.8000
GBP 1BDT 116.0742
EUR 1BDT 103.2355
INR 1BDT 1.1524





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