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 19, 2021

ADP gets 14pc bigger

It may take four to 12 years to complete 1,426 ongoing development projects because of slow implementation and meagre allocation, highlighting the need for the government to prioritise works and accelerate execution to avoid cost and time overruns. The grim scenario was painted in a presentation of the planning ministry at a meeting of the National Economic Council (NEC) yesterday.The meeting approved a Tk 225,324 crore annual development programme (ADP) for the next fiscal year of 2021-22, which is up 14 per cent from the revised budget in the outgoing fiscal year. The combined estimated cost of 1,426 projects is Tk 16,60,807 crore. Of the sum, Tk 556,351 crore may be spent as of June this year. The rest Tk 11,04,456 crore will be allocated in the coming years, and it may take four to 12 years to finish the projects at the current speed of execution.The deadline of at least 678 projects out of 1,426 projects will expire by June this year. The planning ministry, in its presentation, said their deadline needed to be pushed back by June 30. The government has targeted to complete 356 projects in FY22. But they might not be completed by the year-end, the official said. The current ADP has planned to finish 441 projects by FY21. But at least 57 projects will not be completed on time, so they were included in the new ADP. The size of the original ADP in FY21 was Tk 205,144 crore. The planning ministry has proposed to slash it to Tk 197,643 crore in the revised budget as the coronavirus pandemic has hampered development works. In the new ADP, the contribution of foreign assistance will stand at Tk 88,024 crore, which is up 39.72 per cent from the revised outlay of Tk 63,000 crore. The portion of the government will be Tk 137,299 crore, an increase of 1.97 per cent year-on-year.

Source: https://www.thedailystar.net/business/news/adp-gets-14pc-bigger-2094689

Pakistan’s remittances hit all-time monthly high of $2.8b

Stock market yesterday witnessed the highest turnover in four months, crossing Tk 1,500 crore, thanks to increased Remittances from Pakistani workers employed abroad rose to a record monthly high of $2.8 billion in April, 56 per cent higher than a year earlier, the central bank said on Tuesday. On a cumulative basis, remittances also surpassed the previous record. Proactive policy measures by the government and State Bank to encourage more inflows through banking channels, curtailed cross border travel due to the pandemic, and Eid holiday-related inflows contributed to the record levels of remittances this year, the central bank said.The inflows came mainly from Saudi Arabia, at $6.4 billion, the United Arab Emirates, $5.1 billion, Britain, $3.3 billion, and the United States, $2.2 billion, the central bank said, referring to cumulative figures.

Source: https://today.thefinancialexpress.com.bd/trade-market/pakistans-remittances-hit-all-time-monthly-high-of-28b-1621349765

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 34,060.66
FTSE100$ 7,034.24↑1.39↑0.02%
Nikkei 225$ 28,004.67↓402.17↓1.42 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 64.80 ↓0.69↓1.05 %
Crude Oil (Brent)$ 68.02↓0.69↓1.00%
Gold Spot$ 1,869.31↓0.13↓0.01%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 84.8005
GBP 1BDT 119.8909
EUR 1BDT 103.0750





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