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 March 14, 2023

Tk 7.46t budget likely for next fiscal year

A yet bigger budget worth Tk 7.46 trillion may be in the making for Bangladesh for the forthcoming fiscal year (FY), sources said, although the current one is trimmed for revenue-expenditure mismatch. According to the sources, Finance Minister AHM Mustafa Kamal may set sights high also on gross domestic product (GDP) growth for the fiscal year 2023-24, targeting 7.5 per cent in a further rebound from the crisis-induced dips. The new budget may be placed in parliament on June 1 (Thursday). A proposal in this regard has been submitted to Finance Minister AHM Mustafa Kamal, finance officials said, but the minister has the scope to defer the date by one more week until June 8. In the new budget, according to the officials, the government may set a target to keep inflation at around 6.0 per cent-in what is deemed a daunting task as the current rate still stands close by 9.0 per cent in resurgence after a descent from around a double-digit level amid price rises at home and abroad.

Source: https://thefinancialexpress.com.bd/economy/bangladesh/tk-746t-budget-likely-for-next-fiscal-year

Huge export market awaits pharma industry

Bangladesh is increasingly becoming a global hub for manufacturing quality and low-cost generic medicines since many countries don’t have the facilities needed to produce drugs, industry people said yesterday. Only two countries, China and India, along with the developed world have pharmaceutical manufacturing capabilities, highlighting the opportunity for Bangladesh to emerge as a hub for drugs for the global market. “None other than China and India and the western world is as good as Bangladesh in pharmaceuticals. So, Bangladesh has tremendous opportunity,” said Abdul Muktadir, chairman and managing director of Incepta Pharmaceuticals Ltd. “In fact, Bangladesh is becoming a major global hub for high quality, low-cost generic medicines.” He made the comments while presenting a paper on “Pharmaceutical and healthcare in Bangladesh: Investing for growth, global integration and post Least Developed Country (LDC) market opportunities” at the Bangladesh Business Summit. The Federation of Bangladesh Chambers of Commerce and Industry organised the three-day summit at the Bangabandhu International Conference Centre to highlight the investment prospect in the country.

Source: https://www.thedailystar.net/business/economy/news/huge-export-market-awaits-pharma-industry-3270616

Trillion-dollar economy achievable before 2040

Bangladesh will become a trillion-dollar economy much before 2040 because of infrastructural developments, economic growth momentum and the confidence and indomitable spirit of local entrepreneurs, said FBCCI President Md Jashim Uddin yesterday. “We had a lot of constraints in the economy. We did not get available land to establish factories, get adequate gas and we had faced load shedding,” he said. “Even after these, we have been able to make the size of our economy around $470 billion,” said the chief of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI).

Bangladesh recorded economic growth of 6.5 per cent to 7 per cent even after so many constraints and the Padma Bridge’s opening will accelerate the growth by 1.3 per cent., he said.

Source: https://www.thedailystar.net/business/economy/news/trillion-dollar-economy-achievable-2040-3270601

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
FTSE100$7,548.63 ↓199.72 ↓2.58%
Nikkei 225$27,236.24↓596.72↓2.14%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$73.91 ↓0.89↓1.19%
Crude Oil (Brent)$79.87↓0.90↓1.11%
Gold Spot$1,902.39↓11.31↓0.59%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 106.5000
BDT 107.0000

*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