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, 2022

Inflation jumps to 6.29% in April

The point-to-point inflation rate jumped by 0.07 percentage point in April to 6.29%, the highest in 18 months, mainly because of soaring commodity prices in the international market, appreciation of dollars globally and a rise in domestic household demand.  The overall inflation was 6.22% in March. The inflation rate for nonfood items saw a big jump of 0.35 percentage points to 6.39%, while food inflation dropped to 6.24% from 6.34% a month ago. And, inflation also increased in urban and rural areas, according to a report released by the Bangladesh Bureau of Statistics (BBS). The regular BBS release titled “Consumer Price Index (CPI), Inflation Rate and Wage Rate Index (WRI) in Bangladesh” revealed that the average inflation for the last 12 months was 5.81%, substantially higher than the government target of 5.5%. The average inflation was 5.6% in the previous year.

Source: https://www.tbsnews.net/economy/inflation-jumps-629-april-422586

 Pre-shipment credit refinancing relaxed to increase exports

The central bank on Wednesday relaxed the loan terms of the pre-shipment credit refinancing for all export-oriented companies affected by the Covid-19 pandemic. From now on, banks will be able to disburse up to 50% loan for packing credit, a loan provided to exporters or sellers to finance the goods procurement before shipment, under the pre-shipment credit refinancing scheme, the Bangladesh Bank said in a new circular issued on Sunday. There was no loan facility for packing credit under the incentive package previously. Besides, under the previous terms, the interest rate for such loans at the customer level was 5%, of which the banks would get 1%. The new terms have lowered the interest rate to 3% at the customer level, of which banks will get 0.5%. The central bank set up a special fund of Tk5,000 crore called a pre-shipment credit refinancing scheme on 26 April last year. According to a Bangladesh Bank report, only Tk651 crore of the fund was disbursed till 13 April since July of the current fiscal year, amounting to only 13% of the target. Only 67 companies have availed the benefits.

Source: https://www.tbsnews.net/economy/banking/pre-shipment-credit-refinancing-relaxed-increase-exports-422574

Govt approves purchasing 33.6 lakh MMBtu LNG

The Cabinet Committee on Government Purchase has approved eight proposals, including the import of 33.60 lakh MMBtu (metric million British thermal unit) LNG to meet the growing demand in the country. The approval came at a meeting of the committee held virtually on Wednesday with the Finance Minister AHM Mustafa Kamal in the chair. After the meeting, Cabinet Division Additional Secretary Zillur Rahman Chowdhury told the media that PetroBangla would procure 33.60 lakh MMBtu LNG from M/S Vitol Asia Pte Ltd, Singapore for Tk909.14 crore. The meeting also approved a proposal of the Bangladesh Agricultural Development Corporation (BADC) to import 40,000 tonnes of Diammonium phosphate (DAP) from OCP, SA Morroco for Tk407.41 crore.

Source: https://www.tbsnews.net/economy/govt-approves-purchasing-336-lakh-mmbtu-lng-422554

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 31,490.07
↓ 1,164.52↓ 3.57 %
FTSE100$ 7,438.09↓ 80.26↓ 1.07 %
Nikkei 225$ 26,446.72↓ 464.48↓ 1.73 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 110.55↑ 0.96↑ 0.88 %
Crude Oil (Brent)$ 110.70↑ 1.59↑ 1.46 %
Gold Spot$ 1,814.24↓ 2.36↓ 0.13 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 87.5000
GBP 1BDT 108.0100
EUR 1BDT 91.6125

*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