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 May 03, 2021

A Rouf Chowdhury reelected Bank Asia chairman

A Rouf Chowdhury has recently been reelected chairman of Bank Asia at the 453rd meeting of its Board of Directors. Chowdhury is the bank’s main sponsor. He is the chairman of Rangs Group and Sea Resources Group and one of the directors of Mediaworld which owns The Daily Star.His business entities are engaged in transport, medicine, real estate, IT, banking and deep sea fishing, says a press release.

Source: https://www.thedailystar.net/business/news/rouf-chowdhury-reelected-bank-asia-chairman-2087325

Remittances past $20b in 10 months

Remittance inflow surpassed the $20-billion mark in the first 10 months of this fiscal year riding on the relentless efforts of migrant workers to send their hard-earned money home through banking channels.Between July and April, the Bangladeshi diaspora sent $20.66 billion, up 39 per cent year-on-year, according to data from the central bank.For the first time in the country’s history, remittance inflow crossed the $20 billion mark in a single fiscal year, a development that has given a breathing space to the government to absorb the economic shocks deriving from the coronavirus pandemic.Remittance inflow also increased 89 per cent year-on-year to $2.06 billion in April as the migrant workers sent a whopping amount of funds ahead of Eid-ul-Fitr.

The inflow usually skyrockets before Eid-ul-Fitr and Eid-ul-Azha, the two biggest religious festivals for Muslims, as migrant workers send a hefty amount to their near and dear ones during these periods.The monthly remittance exceeded the $2-billion mark after four months. The expats sent $2.05 billion in December.The stagnation of hundi, an illegal cross-boundary financial transaction, has largely pushed the country’s remittances up in recent months, experts said. A good number of countries have adopted strict restrictions on movement since the Covid-19 outbreak last year, putting an adverse impact on the operation of the global hundi cartel.Imports have nosedived in recent months as businesses have adopted a go-slow policy in setting up new industrial units or expanding existing ones.The government will have to lay great emphasis on exporting manpower abroad in order to keep remittance inflow stable in the years ahead.

Source: https://www.thedailystar.net/business/news/remittances-past-20b-10-months-2087357

Stock turnover hits 3-month high

Investors are pouring money into stocks pinning hopes on the higher profit declarations by the listed companies for the latest quarter.As a result, index and turnover both are rising.Turnover at the Dhaka Stock Exchange (DSE) crossed Tk 1,400 crore yesterday for the first time in the last three months.The important indicator of the stock market rose 19 per cent from the previous day’s Tk 1,172 crore.DSEX, benchmark index of the DSE, increased 37 points or 0.68 per cent to end the day at 5,517.01.Investors are hopeful of making higher profits at the end of 2020-21 as the listed companies are announcing their quarterly reports and most of them booked higher profits, said Sharif Anwar Hossain, president of DSE Brokers’ Association.The companies’ higher profits are a good sign for the market, he said.

Reckitt Benckiser announced 1,400 per cent cash dividend for the year ended on December 31 of 2020 when its earnings per share (EPS) stood at Tk 156, which was Tk 131 the previous year.The multinational company’s EPS rose to Tk 29.39 during the January to March period of the current year, up from Tk 24.04 in the same period previous year.The EPS of Eastern Lubricants surged to Tk 37.69 in the nine months of the current fiscal year, up from Tk 6.09 a year earlier. Institutional investors are also active now as the rate of infection and demise from the Covid-19 has reduced, Hossain said, adding that: “Investors will not be loser if they invest in well-performing companies and then hold those.”Patience is the key to success in the stock market, he added.At the DSE, 180 stocks advanced, 104 declined and 77 remained unchanged.

Padma Life Insurance topped the gainers’ list with a 23 per cent rise followed by Khulna Power, Maksons Spinning, Generation Next, and Matin Spinning.Stocks of Beximco Ltd traded the most with shares worth Tk 277 crore changing hands followed by Provati Insurance, National Feed Mills, Beximco Pharmaceuticals, and LafargeHolcim Bangladesh. Associated Oxygen Ltd shed the most that dropped 7 per cent followed by Rupali Insurance, Paramount Insurance, Midas Financing and Northern Insurance.The Chattogram Stock Exchange also rose yesterday. The CASPI, the general index of the port city bourse, surged 128 points, or 0.80 per cent, to stand at 15,973.Among 267 traded stocks, 145 rose, 82 dropped and 40 remained unchanged.

Source: https://www.thedailystar.net/business/news/stock-turnover-hits-3-month-high-2087345

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 33,874.85
FTSE100$ 6,969.81↑ 8.33↑0.12%
Nikkei 225$ 28,812.63↓241.34↑0.83%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 63.47 ↓ 0.11↓0.17%
Crude Oil (Brent)$ 66.63↓0.13↓0.19%
Gold Spot$ 1,775.44↑6.31↑0.36%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 84.8000
GBP 1BDT 117.1766
EUR 1BDT 101.9466





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