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 July 11, 2023

Apparel exports to EU, UK jump big in FY23

Bangladesh apparel exports saw a big jump in European markets in the fiscal 2022-23 despite the economic slowdown driven by the Russia-Ukraine war. Apparel exports grew by 9.93% year-on-year in the European Union countries to about $23.52 billion, while the earning was $21.40 billion in FY22, according to the Export Promotion Bureau (EPB). Besides, the UK market also saw 11.78% year-on-year growth to over $5 billion in FY23, while the earning was $4.50 billion in the previous fiscal. The EPB data show, Bangladesh’s apparel exports to non-traditional markets jumped by 31.38% to $8.37 billion in FY23, which was 17.82% of Bangladesh apparel shipments in FY23. The Canadian market also grew by 16.55% to $1.54 billion in the last fiscal year, while it was a $1.32 billion market in FY 22. However, apparel shipments to two major markets – the US and Germany – experienced a decline of 6.81% and 5.51% to $8.51 billion and $ 6.68 billion, respectively. In FY22, exports to these two countries were $9.01 billion and $7.16 billion respectively.

Source: https://www.tbsnews.net/economy/rmg/apparel-exports-eu-uk-jump-big-fy23-663294

Jute acreage sees growth

Jute acreage in Bangladesh has increased this season as growers expanded cultivation, encouraged by better prices after last year’s harvest, according to the Department of Agricultural Extension (DAE). Preliminary estimates by the DAE show that jute cultivation edged up 2 per cent to 7.45 lakh hectares in the current season, up from 7.29 lakh hectares previously. Growers bagged 84 lakh bales (one bale equals 180 kilogrammes) of jute in fiscal year 2022-23, up 0.3 per cent year-on-year, according to the Bangladesh Bureau of Statistics. Of the amount, over 10 lakh bales of jute were exported, which is higher than the shipment volume of the previous year. Of the rest, most were processed in local mills to make jute goods, such as sacks. Bangladesh’s earnings from jute and jute goods dropped 19 per cent to $912 million in the last financial year from $1,127 million the year prior, according to data from the Export Promotion Bureau.

Source: https://www.thedailystar.net/business/economy/news/jute-acreage-sees-growth-3365991

Tanveer Ahmad elected vice chairman of Islami Bank

Dr Tanveer Ahmad has been elected as the vice chairman of Islami Bank Bangladesh Limited, according to a statement. He completed his MBBS in 2009 from the University of Science and Technology Chittagong and obtained a Doctor of Medicine degree in cardiology in January 2017 from Sir Salimullah Medical College under Bangabandhu Sheikh Mujib Medical University. In 2017, he joined United Hospital in the Post Doctor Fellowship Programme in the Department of Cardiology and currently serves as a cardiologist in the same hospital. Dr Ahmad has actively participated in national and international conferences in his field of practice. Notably, he represented Bangladesh at the Emerging Leaders Summit of the Asia Pacific Society of Cardiology. In 2023, he was awarded a scholarship for an observer fellowship in the USA under the PHA programme.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/tanveer-ahmad-elected-vice-chairman-of-islami-bank-1689005999

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 33,944.40
↑ 209.52↑ 0.62 %
FTSE100$ 7,273.79↑ 16.85↑ 0.23 %
Nikkei 225$ 32,204.41↑ 14.68↑ 0.05 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 73.46↑ 0.47↑ 0.64 %
Crude Oil (Brent)$ 78.14↑ 0.45↑ 0.58 %
Gold Spot$ 1,928.43↑ 3.08↑ 0.16 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 108.5000
BDT 109.0000

*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