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 22, 2023

Cattle fatteners to get loans from Tk 5,000cr BB fund

The Bangladesh Bank yesterday said cattle fatteners or beef producers would get loan from its Tk 5,000 crore refinance scheme formed for ensuring food security. The announcement comes at a time when cattle fattening for beef production has been growing in Bangladesh amid growing interest among farmers owing to higher prices of beef. Last year, farmers reared 41 lakh cattle targeting to sell during Eid-ul-Azha, which accounts for half of annual demand for animals for meat. A total of of 33.42 lakh cattle were fattened under the special regime, which involves nutritious diets and movement restrictions, in 2017, according to the Department of Livestock Services. In November last year the central bank formed the refinance scheme to ensure food security as the banking regulator thinks the world might face a food crisis in the days to come. The loans will have to be disbursed to the sectors such as the cultivation of rice, vegetables, fruits and flowers, fish and poultry farming, and milk production, it said at that time. In a notice yesterday, the BB said the cattle fatteners have been brought to the sectors and they would be eligible for loans under the scheme.

Source: https://www.thedailystar.net/business/economy/news/cattle-fatteners-get-loans-tk-5000cr-bb-fund-3277391

Tax exemption for IT sector likely to be extended

The tax exemption facility for the software and Information technology-enabled services sector, which is scheduled to end in June 2024, is likely to be extended for several more years, a senior tax policy official hinted in a pre-budget talk on Tuesday. The development came as the Association of Software and Information Services (BASIS) proposed to extend the tax facility until 2030 so that the country can achieve the target of $5 billion IT-service export and make the sector further vibrant. “You demand to extend the facility until 2030, it may not be possible. However, the extension will be in place. You will get something positive,” Md Kausar Ali, first secretary of tax policy at the National Board of Revenue (NBR), said at the discussion at its office in the capital. At the event, BASIS Senior Vice-President Samira Zuberi Himika placed their budget proposals and said the tax facility needs to be extended till 2030 for achieving $5 billion in exports, preventing local currency outflows and keeping the domestic ICT sector competitive. “The Covid-19 pandemic and its fallouts set us back a few years. Efforts to expand export markets are ongoing but significant progress is yet to come. Investors are reluctant to invest long-term as the tax exemption period is remaining for a year,” she said.

Source: https://www.tbsnews.net/nbr/govt-likely-extend-tax-exemption-facility-ict-entrepreneurs-603382

Banglalink plans to raise over Tk 8b thru IPO

Banglalink Digital Communications Ltd, the third-largest mobile phone operator in Bangladesh, has planned to go public by offloading 10 per cent of its paid-up capital. Banglalink may raise more than Tk 8 billion through initial public offering (IPO) under the fixed-price method. The telecom operator’s paid-up capital is about Tk 84 billion. The multinational telecommunication company would be the third listed mobile phone operator in Bangladesh after Grameenphone and Robi Axiata. Bangladesh Securities and Exchange Commission Spokesperson Mohammad Rezaul Karim confirmed the development, saying the telecom operator has disclosed its plan to get listed in the stock market. A number of senior officials of Banglalink met with BSEC Chairman Shibli Rubayat-Ul-Islam on Tuesday and discussed the listing issue. Kaan Terzioglu, chairman of Banglalink, and group chief executive officer of VEON, the parent company of the operator, led the delegation. In March last year, Terzioglu said Banglalink was aiming to enter the stock market in three years.

Source: https://thefinancialexpress.com.bd/stock/bangladesh/banglalink-plans-to-raise-over-tk-8b-thru-ipo

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
FTSE100$7,536.22 ↑132.37↑1.79%
Nikkei 225$27,519.54↑573.87↑2.13%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$69.33↑1.69↑2.50%
Crude Oil (Brent)$74.97↓0.35↓0.46%
Gold Spot$1,939.27↓0.80↓0.04%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 105.0200
BDT 105.0200

*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