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 23, 2023

Japan is a growing source of trade, investment

It all started in early 2008 when the Japanese government announced the “China Plus One Strategy” to cut its over-reliance on the manufacturing behemoth by setting up business operations in other countries. The move came as the cost of production in China has climbed and there has been a dearth of skilled workforce in a country known as “the world’s factory”, which sent the profit margin for Japanese investors in China lower. Apparels, the country’s main export item, posted more than 175 per cent shipment growth between 2008 and 2010. In 2008, Japan’s retail giant Fast Retailing opened an office in Dhaka to source clothing items for its consumers. Among the Asian nations, Japan was the first export destination for Bangladesh where earnings crossed the $1-billion mark in 2015-16. The shipment stood at $1.32 billion in the year. The Japanese markets did not disappoint even during the peak of the Covid-19 pandemic in 2019-20 when Bangladesh shipped goods worth $1.20 billion despite serious disruptions to the global supply chain. Local exporters registered a 40.74 per cent year-on-year growth to $1.90 billion in 2022-23. It was $1.35 billion in 2021-22. Garment shipment grew even higher: earnings surged 45.62 per cent to $1.59 billion from $1.09 billion in FY22.

Source: https://www.thedailystar.net/business/economy/news/japan-growing-source-trade-investment-3376016

Australia to continue providing ‘DFQF’ market access for BD

Australian Assistant Trade Minister Senator Tim Ayres assured on Saturday that his country would continue to provide ‘Duty-Free Quota-Free’ (DFQF) market access for Bangladesh in Post- LDC period. “Graduation from LDC status would not make any changes to existing Duty Free Quota Free access of Bangladesh’s products to Australian market” he said in a meeting with Bangladesh High Commissioner to Australia M Allama Siddiki at the Commonwealth Parliamentary Office in Sydney. Faruque Hassan, BGMEA president was present during the meeting. An 11-member delegation led by President BGMEA is visiting Australia and held the Bangladesh Apparel Summit supported by the High Commission on 18 July 2023 in Melbourne.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/australia-to-continue-providing-dfqf-market-access-for-bd-1690040879

 Amazon to invest $120m in internet satellite facility

Amazon said Friday it will invest $120 million to build a satellite construction facility at NASA’s Kennedy Space Centre, as part of its plans to launch a space internet service to rival SpaceX’s Starlink. The company founded by Jeff Bezos says its “Project Kuiper” will provide “fast, affordable broadband to unserved and underserved communities around the world,” with a constellation of more than 3,200 satellites in low Earth orbit (LEO). The company has another production facility in Kirkland, Washington, where it will begin operations by the end of this year. The units will then be sent to Florida to carry out final preparations, and integrate them with rockets from Blue Origin-also founded by Bezos-and United Launch Alliance (ULA) ahead of launch. Elon Musk’s SpaceX launched the first batch of its more than 3,700 operational Starlink satellites in 2019 and is by far the biggest player. London-headquartered OneWeb is another early entrant in the emerging sector.

Source: https://today.thefinancialexpress.com.bd/trade-market/amazon-to-invest-120m-in-internet-satellite-facility-1690041266

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 35,227.69
↑ 2.51↑ 0.01 %
FTSE100$ 7,663.73↑ 17.68↑ 0.23 %
Nikkei 225$ 32,304.25↓ 186.27↓ 0.57 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 77.07↑ 1.42↑ 1.88 %
Crude Oil (Brent)$ 81.07↑ 1.43↑ 1.80 %
Gold Spot$ 1,961.94↓ 7.59↓ 0.39 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 109.0000
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