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 30, 2023

Priority on fighting inflation, funding projects

While challenges like tackling “imported” inflation and boosting revenue earnings persist, funding priority projects to spur investment and growth emerges as a new concern for the next fiscal year beginning on 1 July, according to a Finance Division document. Meeting escalating subsidy demand is also among the key eight challenges identified by the Finance Division in the budget summary for fiscal 2023-24 prepared for the Cabinet, sources at the division told The Business Standard. The summary titled “2023-24 Fiscal Year Budget and Appropriation Bill, 2023 Approval” also highlights achieving the desired revenue collection target as one of the foremost challenges for next year. Furthermore, the Finance Division acknowledges the difficulties in sustaining infrastructure reforms to attract domestic and foreign investments, as well as accelerating the post-Covid economic recovery process by fostering a more business-friendly investment environment. Since the outbreak of Covid, the finance ministry has imposed conditions on the allocation of development projects immediately after the budget announcement to cover urgent essential expenses such as subsidies, salaries, and loan interest.

Source: https://www.tbsnews.net/economy/priority-fighting-inflation-funding-projects-640382

Govt to pilot universal pension from July

The government is set to launch a pilot programme for a universal pension system this July with separate products for expatriates, private sector employees, those engaged in the informal sector, and individuals covered by the social safety net. The initiative is aimed at bringing people from all walks of life under pension coverage in a gradual process. But no specific authority has yet been established to oversee the universal pension system and the pension products have not yet been specified either. Finance ministry officials have told The Business Standard that the formation of an authority, comprising government officials, will be initiated early next month. The body will be responsible for finalising the pension products tailored to different segments of the population.

Source: https://www.tbsnews.net/economy/govt-pilot-universal-pension-july-639918

EBL launched a dedicated China Business Desk in Dhaka

Eastern Bank Ltd (EBL) launched a dedicated China Business Desk in Dhaka to facilitate cross-border business and banking services for China-Bangladesh trade. The centre at EBL’s head office in Gulshan aims to meet the comprehensive banking needs of Chinese companies and investors in Bangladesh. The inaugural event featured addresses by Planning Minister MA Mannan, FBCCI President Md Jashim Uddin, Economic and Commercial Counselor at the Embassy of China to Bangladesh Song Yang and EBL CEO Ali Reza Iftekhar.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/ebl-launched-a-dedicated-china-business-desk-in-dhaka-1685383314

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 33,093.34
↑ 328.69↑ 1.00 %
FTSE100$ 7,627.20↑ 56.33↑ 0.74 %
Nikkei 225$ 31,137.04↓ 96.50↓ 0.31 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 72.44↓ 0.23↓ 0.32 %
Crude Oil (Brent)$ 76.68 ↓ 0.39↓ 0.51 %
Gold Spot$ 1,939.36↓ 3.83↓ 0.20 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 108.5000
BDT 108.5000

*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