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

Click to Close

Rate last updated: 02/01/2014 11:15:04 AM

Daily Business News Flash July 25, 2022

IT exports shoot up 52pc in Jul-Apr

Information technology (IT) exports from Bangladesh are snowballing as global clients have swamped local IT companies with orders for various software, data processing and other digital service solutions. As such, local IT companies saw their export earnings shoot up 52 per cent year-on-year to $369 million in the July-April period of fiscal 2021-2022, according to the Export Promotion Bureau (EPB). The industry raked in $242 million from exports in the first 10 months of fiscal 2020-21 before going on to cross the $300-million mark by the end of the year as Covid-19 turbocharged global demand. Receipts from ITES exports, namely data processing and web hosting, grew by around 61 per cent year-on-year in the July-April period to $277.9 million. Similarly, IT consultancy services raked in $31 million in the first 10 months of fiscal 2021-22, up from $22 million a year ago, while software exports rose to $51 million from $42.6 million at the same time. The export earnings of Brain Station 23, one of the top software exporters in Bangladesh that employs 600 local tech talents, grew by 40 per cent during the July-April period of 2021-2022.

Source: https://www.thedailystar.net/business/economy/news/it-exports-shoot-52pc-jul-apr-3078631

Free fall of stocks as core index sinks below 6100

Stocks witnessed yet another massive fall on Sunday, with the key index of the prime bourse sinking below 6,100-mark, as the jittery investors continued their sell-off to exit from the market. The market saw a sharp decline from the beginning of the session as panic-driven investors dumped their holdings amid fears over a possible economic depression in the coming months plunging below the 6,100-mark instantly. Finally, DSEX, the prime index of Dhaka Stock Exchange (DSE), slid 74.07 points or 1.20 per cent to settle at 6,052, the lowest in nearly 13 months since June 29, 2021. The core index shed more than 314 points while the market-cap wiped out Tk 204 billion in just nine trading days to Tk 4,984 billion, lowest in 14 months. The foreign currency reserves dropped below $40 billion, hitting a two-year low last week, while local currency is depreciating against the dollar and June inflation hit a nine-year high to 7.56 per cent. The investors’ activities were mostly focused on the textile sector, capturing 27.6 per cent of the day’s total turnover, followed by miscellaneous (12.7 per cent) and pharmaceuticals (11.5 per cent). All the sectors faced heavy sales pressure, leading to the share price erosion of more than 83 per cent stocks. Out of 382 issues traded, 318 declined, 42 advanced and 22 issues remained unchanged on the DSE.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/free-fall-of-stocks-as-core-index-sinks-below-6100-1658685115

Macroeconomy out of comfort zone: CPD

The country’s macroeconomic situation has moved beyond the comfort zone due to a rising inflation, depleting foreign exchange reserves, widening trade deficit, falling Taka, and ongoing power and fuel shortage, according to the Centre for Policy Dialogue (CPD). Terming the stagflation – high inflation combined with high unemployment and stagnant demand – very rare since 1970, she said Bangladesh is also at economic risk.

Source: https://www.tbsnews.net/economy/macroeconomy-out-comfort-zone-cpd-464382

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 31,899.29
↓ 137.61↓ 0.43 %
FTSE100$ 7,276.37↑ 5.86↑ 0.08 %
Nikkei 225$ 27,718.98↓ 195.68↓ 0.70 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 94.05↓ 0.65↓ 0.69 %
Crude Oil (Brent)$ 102.56↓ 0.64↓ 0.62 %
Gold Spot$ 1,726.85↓ 0.79↓ 0.05 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 94.4441
GBP 1BDT 113.3967
EUR 1BDT 96.4712

*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