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 11, 2023

PM approves Tk7.64 lakh crore proposed budget for FY24

The proposed budget for the fiscal 2023-24, amounting to Tk7.64 lakh crore, has received the nod from Prime Minister Sheikh Hasina. During the presentation of the budget allocation estimates at Ganabhaban on Wednesday evening, the prime minister advised taking appropriate steps to ensure stability in the overall economy of the country. She emphasised the importance of allocating necessary funds to continue ongoing development activities and adopting a strong fiscal policy to keep the prices of goods at a bearable level. During the meeting, the senior finance secretary presented the proposed budget and estimated the GDP growth rate at 7.5% and the inflation rate at 6.5% for the upcoming financial year. The Finance Division estimates that the upcoming budget will have a total allocation of Tk7.64 lakh crore, with Tk2.63 lakh crore allocated for the annual development programme and the remainder for the government’s operational expenditure. Of the development expenditure, Tk1.69 lakh crore will come from domestic sources while Tk94,000 crore will come from foreign aid. The remaining Tk5 lakh crore of the budget will be spent in the operational cost sector. In the budget of the current financial year, its amount was Tk4.31 lakh crore.  Operating expenditure includes Tk77,000 crore for salaries and allowances of government employees, Tk40,000 crore for purchase of goods and services, Tk1.10 lakh crore for loan interest payments, Tk1.18 lakh crore for social security, and Tk1.05 lakh crore for subsidies and incentives which the prime minister has approved.

Source: https://www.tbsnews.net/economy/budget/pm-approves-tk764-lakh-crore-proposed-budget-fy24-629658

Forex reserves cross $30b

After a continuous fall in recent months, Bangladesh’s foreign currency reserve rose slightly yesterday after an injection of $507 million as the budget support from the World Bank. The reserve rose to $30.36 billion from $29.77 billion two days ago, according to the central bank’s latest statistics. This means the reserves have fallen by about 28 per cent from the $42.20 billion seen in May last year. The reserves have been under strain for months due to higher imports against the lower-than-expected export earnings and remittances. It slipped below $30 billion after making routine payments of $1.18 billion to the Asian Clearing Union (ACU) against the imports for March-April.

Source: https://www.thedailystar.net/business/economy/news/forex-reserves-cross-30b-3316681

Denim expo begins in Dhaka on May 16

The 14th edition of Bangladesh Denim Expo will start at the International Convention City Bashundhara (ICCB) in Dhaka on May 16. “Innovator” is the theme of this year’s two-day show, according to a statement from the Bangladesh Denim Expo. Over 90 local and international exhibitors are set to attend the event to display fabrics, garments, threads, machinery, finishing equipment and accessories. The show is a true representation of Bangladesh’s denim industry, the largest denim exporter to the EU and the USA.

Source: https://www.thedailystar.net/business/economy/news/denim-expo-begins-dhaka-may-16-3316631

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 33,531.33
↓ 30.48↓ 0.09 %
FTSE100$ 7,741.33↓ 22.76↓ 0.29 %
Nikkei 225$ 29,128.39↑ 6.21↑ 0.02 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 73.13↑ 0.57↑ 0.79 %
Crude Oil (Brent)$ 77.03↑ 0.62↑ 0.81 %
Gold Spot$ 2,031.33↑ 1.24↑ 0.06 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 107.0200
BDT 108.0000

*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