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 June 01, 2021

Tax collection more than doubles in April

evenue collection surged 116 per cent year-on-year to Tk 19,326 crore in April, the highest monthly growth in the current fiscal year, which has seen lower tax receipts because of the economic slowdown. Receipts rose 13 per cent year-on-year to Tk 197,583 crore in the July-April period, buoyed by increased imports and higher collection from domestic sources ahead of Eid-ul-Fitr, the biggest sales season in the country, provisional data from the National Board of Revenue (NBR) showed.Despite the stellar performance in April, the tax administration is unlikely to achieve its revised collection target of Tk 301,000 crore in 2020-21: the NBR will have to generate Tk 103,416 crore in the final two months of the fiscal year ending in June.The NBR raised Tk 61,132 crore from import tariff from July to April, up 20 per cent year-on-year. Imports increased 6 per cent to $46.23 billion in July-March period from a year ago, according to the Bangladesh Bank. The collection from the value-added tax, the biggest source of revenue for the NBR, grew 11 per cent to Tk 76,781 crore in the 10-month period. Tax officials logged an 8 per cent higher growth in income tax to take the collection to Tk 59,670 crore.

Source: https://www.thedailystar.net/business/news/tax-collection-more-doubles-april-2102597

Higher profits give a fillip to cement stocks

Thanks to a hike in cement prices, all the cement manufacturers witnessed higher profits in the January-March quarter of the current year. This higher profit booking ultimately boosted the stocks of cement companies.However, the DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), dropped 17 points, or 0.29 per cent, to 5,990 yesterday. Among all sectors, cement rose the highest with a 6.26 per cent jump. Mutual funds dropped the most, falling 1.84 per cent. In its disclosure yesterday, Confidence Cement announced that its earnings per share had almost tripled to Tk 7.80 in the January-March period of the current fiscal year. After the news broke, Confidence Cement topped the gainers’ list, rising 9.97 per cent atz the DSE, followed by Dutch-Bangla Bank, MI Cement, Rahima Food Corporation, and Premier Cement.Stocks of Beximco Ltd traded the most with Tk 125 crore followed by Confidence Cement, LafargeHolcim Bangladesh, Dutch-Bangla Bank and IFAD Autos. Turnover, another important indicator of the market, fell 19.21 per cent to Tk 1,736 crore. Banking stocks dominated the turnover chart, covering 19.11 per cent of the total. At the DSE, 102 stocks advanced, 203 fell and 54 remained unchanged. Union Capital shed the most, losing 12.65 per cent, followed by First Finance, Pragati Life Insurance, Rupali Life Insurance and Sunlife Insurance. The Chittagong Stock Exchange (CSE) also fell as the CASPI, the general index of the port city bourse, dropped 19 points, or 0.11 per cent, to 17,359.

Source: https://www.thedailystar.net/business/news/higher-profits-give-fillip-cement-stocks-2102593

BRAC Bank launches ‘Prothom Account’

BRAC Bank has launched ‘Prothom Account’ to cater to the banking needs of the aspiring new entrepreneurs across Bangladesh. ‘Prothom Account’ is basically a personal current account for SME entrepreneurs following Bangladesh Bank’s circular last year, said a statement. The account can be opened by any CMSME-sized business owners with a lowered opening balance and minimum document requirement.Women entrepreneurs would be provided additional benefits of TARA, a dedicated banking platform for women.No trade license will be required for opening ‘Prothom’ Account. An account can be opened with only BDT 500 opening balance and the interest will be calculated on the daily balance which would be credited half-yearly. Also, the account holders would also be provided with a debit card with no issuance fees.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/brac-bank-launches-prothom-account-1622478517

Summit power plant to use GE’s HA gas turbine

In line with Summit’s commitment to continue transforming the power sector in Bangladesh by adopting advanced technology solutions, the company has successfully brought GE 9HA.01 heavy-duty gas turbine to its upcoming Summit Meghnaghat-II power plant located in Meghnaghat, near Dhaka. Meeting the project timeline, the gas turbine has been successfully placed on the foundation at the site of the power plant, which is expected to be commissioned in 2022, generating the equivalent electricity needed to supply up to 700,000 homes in Bangladesh.GE’s H-class is also the fastest growing fleet of gas turbines in the world in its class. Manufactured in Belfort, France, the GE 9HA.01 gas turbine can deliver up to 63.7 per cent record-setting net combined-cycle efficiency in the 50 Hz segment and offers lowest total cost of ownership in the industry, driven by most cost-effective conversion of fuel to electricity and industry-leading flexibility.

Source: https://today.thefinancialexpress.com.bd/trade-market/summit-power-plant-to-use-ges-ha-gas-turbine-1622478001

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 34,529.45
↑64.81↑ 0.19%
FTSE100$ 7,022.61↑2.94 ↑0.04%
Nikkei 225$ 28,789.39 ↓70.69↓0.24%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 67.58 ↑1.26↑1.90%
Crude Oil (Brent)$ 70.12↑0.80↑1.15%
Gold Spot$ 1,911.02↑4.15↑ 0.22%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 84.8010
GBP 1BDT 120.5446
EUR 1BDT 103.7031





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