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 23, 2021

ADB approves $940m loan for vaccine purchase

The Asian Development Bank yesterday approved a loan package of $940 million for Bangladesh to help the country buy Covid-19 vaccines. The package comprises a regular loan and a concessional loan of $470 million each, the Manila-based lender said in a press release. This is part of the bank’s $9 billion Asia Pacific Vaccine Access Facility launched in December 2020 to offer rapid and equitable vaccine-related support to the ADB’s developing member countries. The project will fund the purchase of an estimated 44.7 million doses of vaccines to be administered to more than 20 million Bangladeshis by 2024. The ADB supported Bangladesh’s Covid-19 response through a $250 million loan in June 2021 to strengthen social protection and resilience programmes and a $500 million loan in May 2020 for expanding social safety nets for vulnerable groups and supporting critical labour-intensive industries and small and medium enterprises to preserve jobs.

Source: https://www.thedailystar.net/business/news/adb-approves-940m-loan-vaccine-purchase-2116353

Stocks fall on profit booking

The stock market fell yesterday as investors booked profits following the rise in the prices aided by the steady run of the key index. The DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), fell 19 points, or 0.32 per cent, to close the day at 6,105. The investors are cashing profits to benefit from the higher position of the index, said a stockbroker. On Monday, the index rose to a three-and-a-half-year high of 6,125, according to DSE data. Turnover, an important indicator of the market, decreased 1.27 per cent to Tk 2,043 crore. On the DSE, 134 stocks rose, 204 declined, and 31 remained unchanged. Bangladesh Monospool Paper Manufacturing topped the gainers’ list that rose 10 per cent, followed by Tamijuddin Textile, Malek Spinning, Square Textile, and Prime Textile. Pioneer Insurance was the most traded stock with shares worth Tk 147 crore changing hands, followed by Beximco Ltd, Maksons Spinning, National Feed Mills, and Orion Pharmaceuticals. Prime Islami Life Insurance shed the most, declining 17.1 per cent. Sea Pearl Beach Resort & Spa, Reliance Insurance, Green Delta Insurance, and Fareast Life Insurance also witnessed major losses. The port city bourse soared. The CASPI, the general index of the Chittagong Stock Exchange, rose 178 points to 17,762.

Source: https://www.thedailystar.net/business/news/stocks-fall-profit-booking-2116321

City Bank gets new DMD

City Bank recently witnessed the appointment of a new deputy managing director. The appointee, Zabid Iqbal, has been serving the bank as credit risk officer and chief anti-money laundering compliance officer since January 2019. Starting his career in 1998 with AB Bank as a probationary officer, he afterwards worked for HSBC Bank in Bangladesh and Hong Kong, the Commercial Bank of Ceylon, American Express Bank and Dhaka Bank. Iqbal obtained an MBA degree from the Institute of Business Administration, University of Dhaka and completed a Chartered Financial Analyst (CFA) programme at the CFA Institute of USA.

Source: https://www.thedailystar.net/business/news/city-bank-gets-new-dmd-2116293

Bangladesh cotton waste worth $100m

New research suggests that cotton waste produced by the major clothing sector in Bangladesh could be worth up to US$ 100 million (EUR 84 million) in the recycling market, according to a report published on https://recyclinginternational.com. A report from the country’s cross-industry Circular Fashion Partnership (CFP) estimates that in 2019 Bangladesh produced approximately 577, 000 tonnes of waste from its readymade garments (RMGs) factories and fabrics mills, of which 250 000 tonnes were 100% pure cotton waste. Bangladesh is currently heavily reliant on imports of textile fibre, bringing in 1.63 million tonnes of staple cotton fibre in 2019 worth US$ 3.5 billion. Based on the CFP findings, recycling cotton waste could help cut such imports by around 15 per cent, saving US$ 500 million.

Source: https://today.thefinancialexpress.com.bd/trade-market/bangladesh-cotton-waste-worth-100m-1624381299

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 33,945.58
↑ 68.61 ↑ 0.20 %
FTSE100$ 7,090.01↑ 27.72 ↑ 0.39 %
Nikkei 225$ 28,910.40↑ 26.27↑ 0.09 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 73.22↑ 0.37↑ 0.51 %
Crude Oil (Brent)$ 75.29↑ 0.48↑ 0.64 %
Gold Spot$ 1,782.20↑ 3.46↑ 0.19 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 84.8010
GBP 1BDT 118.1193
EUR 1BDT 101.0404





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