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 09, 2022

Import surge drives up nine-month trade deficit to $25b

The country’s trade deficit is growing sharply owing to a massive increase in imports compared to exports and the rise in prices of all kinds of products such as food items and fuels in the world market. In the first nine months of fiscal 2021-2022, the trade deficit was about $25 billion which was 9.25% higher than that of the full period of the previous fiscal year. The deficit is around 64% more than the July-March period. The trade deficit for the nine months of fiscal 2020-21 was $15.28 billion while it stood at $22.80 billion for the entire fiscal year. In April, the exports clocked the $4 billion mark with 51% year-on-year growth, raking in $43.34 billion in 10 months of the current fiscal year. During the July-March period, the deficit rose to $14.7 billion. At the same time previous fiscal year, this important indicator of Bangladesh’s economy had a deficit of only $555 million. On the other hand, during the July-March period of the current financial year, exporters earned $36.61 billion by shipping various products, which is 32.92% more than the same period of the previous fiscal year. As a result, the overall trade deficit stood at $24.91 billion in the first nine months of the fiscal year. In April last year, the price of fuel oil in the international market was $60 per barrel. The same oil sold for more than $112 on Sunday. It rose to $139 at the start of the Russia-Ukraine war.

Source: https://www.tbsnews.net/economy/import-surge-drives-nine-month-trade-deficit-25b-415766

Mr. A. Rouf Chowdhury re-elected as chairman of Bank Asia

Mr. A. Rouf Chowdhury has been re-elected as Chairman of Bank Asia at the 473rd meeting of the Board of Directors of the Bank held recently. He is the main sponsor of Bank Asia Ltd. Mr. Chowdhury is an eminent businessperson and industrialist of the country. He is the Chairman of Rangs Group and Sea Resources Group. He is also a Director of the Daily Star. He has established reputed organizations in transport, medicine, real estate, IT, banking, deep sea fishing and in other economic sectors of the country that are contributing immensely for country’s employment generation and economic development.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/a-rouf-chowdhury-re-elected-as-chairman-of-bank-asia-1652027121

BSEC gets first female commissioner

Prof. Dr. Rumana Islam has joined the securities regulator as its first female commissioner. Dr. Islam on Sunday joined the Bangladesh Securities and Exchange Commission (BSEC) for a period of four years through a gazette notification issued by the financial institutions division of the ministry of finance. The newly-appointed commissioner Dr. Islam is a Professor of Law at University of Dhaka. She joined Dhaka University as a faculty in 2008 as an Assistant Professor. She has acted as the Assistant Director of Research (Law) (part-time) in Bangladesh Institute of Law and International Affairs (BILIA), the leading think tank of law in the country from September, 2015 to September 2019. Dr. Islam was nominated as a Panel Arbitrator designated by the Government of Bangladesh to the World Bank’s International Centre for Settlement of Investment Disputes (ICSID) in April 2021 for a term of six years.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/bsec-gets-first-female-commissioner-1652027010

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 32,899.37
↓ 98.60↓ 0.30 %
FTSE100$ 7,387.94↓ 115.33↓ 1.54 %
Nikkei 225$ 26,473.78↓ 529.78↓ 1.96 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 109.87↑ 0.10↑ 0.09 %
Crude Oil (Brent)$ 112.60↑ 0.21↑ 0.19 %
Gold Spot$ 1,883.81↓ 8.71↓ 0.46 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 86.4500
GBP 1BDT 106.6879
EUR 1BDT 91.2480

*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