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 March 04, 2024

Bangladesh to export non cotton garments worth $42bn by 2032

The use of non-cotton fibre in garment production in Bangladesh increased to 29% from 25% over the last three years. The rise was owing to local apparel exporters moving away from cotton to incorporate more man-made fibre to get better prices and increase business, according to the findings of a new study released today. Globally the ratio of non-cotton fibre in a garment is 75% but in Bangladesh the picture is just reverse because the local garment exporters use 71% cotton fibre for making a garment, says the findings of a study titled “Beyond Cotton A strategic blueprint for fibre diversification in Bangladesh apparel industry” of Bangladesh Garment Manufacturers and Exporters Association (BGMEA). Bangladesh Garment Manufacturers and Exporters Association (BGMEA) wants to take the global market share of locally made apparel to 12% from the existing 7.87% as the prices are higher for those products than the cotton made garment items.

Source: https://www.tbsnews.net/economy/rmg/bangladesh-export-non-cotton-garments-worth-46bn-2032-802530

Remittances soar to 8-month high at $2.16b

Inward remittances have demonstrated strong performance for two consecutive months, with the country receiving over $2 billion each in January and February this year. In February, Bangladesh witnessed its highest remittance inflow in the past eight months, totalling over $2.16 billion. This significant development provides a welcome relief for the country’s diminishing foreign exchange reserves, as noted by bankers. This figure marked a significant increase of 38.46% compared to the same month last year, according to data from the Bangladesh Bank. In June 2023, the country saw a higher inflow of $2.19 billion. According to the Bangladesh Bank, the country’s foreign exchange reserves stood at $20.57 billion at the end of Sunday. The reserves reached their peak of $48 billion in August 2021, and since then, they have steadily declined.

Source: https://www.tbsnews.net/economy/bangladesh-receives-216b-remittances-highest-8-months-802706

Mr. Ashim Kumar Saha promoted as DMD of Mercantile Bank

Mr. Ashim Kumar Saha has been promoted as deputy managing director of Mercantile Bank. He was the senior executive vice president and head of treasury of the bank. Since his joining the bank in 2016. Mr. Ashim Kumar has been efficiently delivering his duties and responsibilities in various capacity. With over 34 years of experience in the banking sector, Mr. Ashim Kumar Saha has expertise in government securities, local & foreign currency management, ALM analysis and risk management. He is also an expert in private bonds and equity market. Before starting the banking career in 1990 at the Uttara Bank as probationary officer, Mr. Ashim Kumar Saha has completed post-graduation in accounting from University of Dhaka. Thereafter, he worked at NCC Bank for 20 years. He joined Mercantile Bank on 10th August 2016 as senior executive vice president and head of treasury.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/ashim-kumar-saha-promoted-as-dmd-of-mercantile-bank-1709488233

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 39,087.38
↑ 90.99↑ 0.23 %
FTSE100$ 7,682.50↑ 52.48↑ 0.69 %
Nikkei 225$ 40,137.99↑ 227.17↑ 0.57 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 79.99↑ 0.02↑ 0.03 %
Crude Oil (Brent)$ 83.69 ↑ 0.14↑ 0.17 %
Gold Spot$ 2,080.59↓ 2.33↓ 0.11 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 110.0000
BDT 110.0000

*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