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 Jun 09, 2024

GDP growth target set at 6.75% for FY25

The government is optimistic that the country’s GDP growth will be 6.75% for fiscal year 2024-25, nearly one percentage point higher than the outgoing year. This projection comes despite a contractionary monetary budget, with an eye towards taming inflation. Recently, the Bangladesh Bureau of Statistics projected that GDP will grow at 5.82% for the current fiscal year, down from the 7.5% projected in the budget. But after a review, the finance ministry lowered the target to 6.5%. With an eye towards battling inflation, Finance Minister Abul Hassan Mahmood Ali unveiled a TkTk 7,97,000 crore national budget for the fiscal year 2024-25. The latest budget is contractionary, with a lowered GDP growth of 6.9%. Usually, the size of a new budget increases by 10% to 12% compared to the current year’s budget, but this time it will increase by less than 8%.

Source: https://www.tbsnews.net/economy/budget/gdp-growth-target-set-675-fy25-870371

Tax free income ceiling remains at Tk3.5 lakh

The government has retained the tax-free income limit at Tk3.5 lakh for individual taxpayers for the fiscal year (FY25). At the same time, it is proposed to increase the existing maximum tax rate from 25% to 30% for natural individual taxpayers and firms with tax slab adjustments. According to today’s budget proposal, for women and senior citizens aged 65 years or above, the limit is Tk4 lakh, physically challenged persons and members of the third gender Tk4.75 lakh and the freedom fighters Tk5 lakh. However, the threshold would be increased for parents or legal guardians of physically challenged/adopted child by Tk50,000 for each child. At present, the minimum tax applicable to taxpayers other than company taxpayers in Dhaka North, Dhaka South and Chattogram City Corporation is Tk5,000. For other City Corporations, it is Tk4,000. For other areas outside the City Corporation, minimum tax is Tk3,000. Currently, no surcharge is payable for net asset valued up to Tk4 crore. For assets exceeding Tk4 crore, a 10% surcharge is applied, and for those exceeding Tk50 crore, the surcharge rises to 35%.

Source: https://www.tbsnews.net/economy/budget/tax-free-income-ceiling-remains-tk35-lakh-870646

Govt aims for cashless economy by 2031

The government has pledged to make ‘Smart Bangladesh’ by 2041 with four basic pillars — Smart Citizens, Smart Economy, Smart Government and Smart Society. The goal of the Smart Economy is to create a circular economy that is fueled by modernisation of industry, the expansion of the ICT sector, and a strong technological foundation. An official document presented in parliament highlights the objective of achieving complete cashless transactions by 2031, alongside attaining an average per capita income of USD 12,500 and eradicating poverty by 2041. The roadmap also includes achieving a 2.5 per cent Total Factor Productivity (TFP) growth in GDP by 2041, while ensuring the digital inclusion of all private sectors, including Cottage, Micro, Small, and Medium Enterprises (CMSME). It mentioned that priority will be given to frontier technologies in technological capacity building and setting regional precedents in the use of technology to facilitate business.

Source: https://today.thefinancialexpress.com.bd/trade-market/govt-aims-for-cashless-economy-by-2031-1717863031

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 38,798.99
↓ 87.18↓ 0.22 %
FTSE100$ 8,245.37↓ 39.97↓ 0.48 %
Nikkei 225$ 38,683.93↓ 19.58↓ 0.05 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 75.53↓ 0.02↓ 0.03 %
Crude Oil (Brent)$ 79.62 ↓ 0.25↓ 0.31 %
Gold Spot$ 2,293.78↓ 82.28↓ 3.46 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Inter-Bank Exchange Rates
CurrencyLowestHighestCurrent WAR

*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