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 20, 2024

Chinese firm to invest $27.8 million in Bepza Economic Zone

Dongfang Knitting (BD) Ltd, a Chinese company, will invest $27.8 million to set up a sock manufacturing factory at the Bepza Economic Zone at Mirsarai in Chattogram. The factory targets producing 216 million pairs of socks for men, women and children every year and it will create employment opportunities for 5,192 Bangladeshi workers.

Source: https://www.thedailystar.net/business/news/chinese-firm-invest-278-million-bepza-ez-3570281

Gold prices edge down

The Bangladesh Jewellers’ Association (BJA) has lowered gold prices by Tk 1,750 per bhori (11.664 grams) on the local market. As per the new rate, 22-carat gold will now be sold at Tk 111,158 per bhori. The latest pricing of the precious metal would come into effect today (Wednesday), said a press release issued by BJA. The price of 21-carat gold (per bhori) went down by Tk 1,633 to Tk 1,06,142, while the price of 18-carat gold has been reduced by Tk 1,400 to Tk 90,979 per bhori. And the price of conventional gold has been reduced by Tk 1,166 to Tk 75,816. The previous rate of 22-carat gold was Tk 1,12,908 per bhori while the price of 21-carat gold was Tk 1,07,775, and 18-carat Tk 92,379 per bhori. And the price of traditional gold was Tk 76,982 per bhori.

Source: https://today.thefinancialexpress.com.bd/trade-market/gold-prices-edge-down20-03-2024-1710864935

Steel industry on the brink as dollar, gas, power prices surge

The Bangladesh Steel Manufacturers Association has said the country’s steel industry is facing a severe crisis due to a surge in the dollar, gas, and electricity prices. The dollar surge hinders access to Letters of Credit (LC) for importing essential raw materials, creating a shortage and supply chain disruptions. Increased costs for raw materials, chemicals, components (85% import-dependent), interest rates (9% to 13.5%), fuel oil, electricity, gas, LC commissions, margins, discounting rates, and other charges have significantly raised working capital requirements. Electricity prices rose 15% last year, with another 10% this year and a further planned increase. Demand charges also rose by 20%. Gas prices nearly tripled, increasing production costs by Tk3 per tonne. Lower the tax deduction at source for steel companies from 2% to 0.5%. Reduce the minimum advance income tax on imported steel scrap from Tk500 to Tk200 per tonne and revoke the recent increase in the Ministry of Industries’ CM certificate fee. The leaders of the association urged the government to implement a turnover-based fee structure.

Source: https://www.tbsnews.net/economy/steel-industry-brink-dollar-gas-power-prices-surge-entrepreneurs-811766

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 39,110.76
↑ 320.33↑ 0.83 %
FTSE100$ 7,738.30↑ 15.75 ↑ 0.20 %
Nikkei 225$ 40,003.60↑ 263.16↑ 0.66 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 83.13↓ 0.34↓ 0.41 %
Crude Oil (Brent)$ 87.16 ↓ 0.22↓ 0.25 %
Gold Spot$ 2,156.86↓ 0.73↓ 0.03 %

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