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 12, 2024

Oil prices fall on prospect of higher-for-longer US rates

Oil prices fell by nearly $1 a barrel on Friday as comments from US central bank officials indicated higher-for-longer interest rates, which could hinder demand from the world’s largest crude consumers. Brent crude futures settled at $82.79 a barrel, down $1.09, or 1.3 per cent. US West Texas Intermediate crude settled at $78.26 a barrel, down $1.00, or 1.3 per cent. For the week, Brent logged a 0.2 per cent loss, while WTI recorded a rise of 0.2 per cent. Dallas Federal Reserve President Lorie Logan on Friday said it was unclear whether monetary policy was tight enough to bring down inflation to the US central bank’s 2 per cent goal. Oil drew little support from the US oil rig count, which is an indicator of future supply, despite energy services firm Baker Hughes data showing the number of oil rigs fell by three to 496 this week, their lowest since November. Money managers, meanwhile, cut their net long US crude futures and options positions in the week to May 7 by 56,517 contracts to 82,697.

Source: https://today.thefinancialexpress.com.bd/trade-market/oil-prices-fall-on-prospect-of-higher-for-longer-us-rates-1715444123

Gold price rises by Tk1,832 per bhori

The Bangladesh Jewellers Association (Bajus) increased the price of gold by Tk1,832 per bhori on 11 may within a span of four days, followed by a price hike in the local bullion market. According to a Bajus statement, 22-carat gold will now cost Tk1,17,282 per bhori (11.664 grams). Apart from this, the price of 21-carat gold has been set at Tk1,11,951 per bhori and 18-carat gold at Tk95,960 per bhori. Besides, for the traditional method, the price of gold will be Tk79,339 per bhori.

Source: https://www.tbsnews.net/economy/gold-price-rises-tk1832-bhori-848511

Tech giants start to treat Southeast Asia like the next big thing

The CEOs of Apple Inc., Microsoft Corp. and Nvidia Corp. are among the industry chieftains who’ve swung through the region in past months, committing billions of dollars in investment and holding forth with heads of state from Indonesia to Malaysia. Amazon.com Inc. just this week took over a giant conference hall in downtown Singapore to unfurl a $9 billion investment plan before a thousands-strong audience cheering and waving glow sticks. After decades of playing second fiddle to China and Japan, the region of about 675 million people is drawing more tech investment than ever. For data centres alone, the world’s biggest companies are set to splurge up to $60 billion over the next few years as Southeast Asia’s young populations embrace video streaming, online shopping and generative AI.

Source: https://www.tbsnews.net/worldbiz/asia/tech-giants-start-treat-southeast-asia-next-big-thing-848041

City Bank has signed a Bancassurance agreement with Delta Life Insurance Company Limited

City Bank has signed a Bancassurance agreement with Delta Life Insurance Company Limited. The signing ceremony was held recently at the City Bank PLC Head Office. This agreement will enable City Bank customers to buy insurance products of Delta Life Insurance directly from the bank under Bancassurance Guideline issued by Bangladesh Bank and IDRA. Mashrur Arefin, MD & CEO of City Bank, and Anwarul Haque, Chief Executive Officer (CC) of Delta Life Insurance Company, signed the agreement on behalf of their respective organisations.

Source: https://today.thefinancialexpress.com.bd/trade-market/city-bank-has-signed-a-bancassurance-agreement-with-delta-life-insurance-company-limited-1715443979

Mr. Shamsul Arefin new MD of NCC Bank

Mr. M. Shamsul Arefin has recently joined as managing director & CEO of NCC Bank, according to a press statement. Earlier, he served in the same bank holding the positions of additional managing director, deputy managing director and senior executive vice president and discharged his duties as CAMLCO, chief risk officer, head of credit risk management and head of corporate business. He also played a leadership role in results-driven teams of different business segments as well as operations. Mr Arefin started his banking career as a management trainee at Eastern Bank in 1994. Later, he worked for ONE Bank, Shahjalal Islami Bank, Jamuna Bank, Premier Bank and SBAC Bank mostly in leadership roles.

Source: https://www.thedailystar.net/business/news/bsec-gets-two-new-commissioners-3605216

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 39,512.84
↑ 125.08↑ 0.32 %
FTSE100$ 8,433.76↑ 52.41↑ 0.63 %
Nikkei 225$ 38,229.11↑ 155.13↑ 0.41 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 78.26↓ 1.00↓ 1.26 %
Crude Oil (Brent)$ 82.79 ↓ 1.09↓ 1.30 %
Gold Spot$ 2,360.50↑ 14.17↑ 0.60 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Inter-Bank Exchange Rates
CurrencyLowestHighestCurrent WAR

*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