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 November 03, 2022

October exports fall but RMG sees over 3% rise

Despite an overall fall in export earnings, data from the Export Promotion Bureau (EPB) show that Bangladesh’s ready made garments sector saw a 3% growth in revenue in October compared to last year, a figure that surprises RMG owners. According to the latest figures released by the EPB, after 13 months of much-needed recovery of the apparel export from the pandemic and promising growth, overall export earnings in October of the current financial year fell by 7.85% to $4.35 billion year-on-year from $4.72 billion in the same month of FY 2021-22. Apparel export earnings, however, reached $3.67 billion, higher than the $3.65 billion registered in October of FY21-22. Apart from apparels, earnings fell for most other major sectors, including jute and jute goods, frozen and live fish and shrimp export. Apparel exports – which constituted 83% of the country’s total exports in the first four months of FY23 – spell the trend for the country’s export growth. If the sector shines, so do the numbers. But when The Business Standard spoke to at least 20 leading apparel exporters, all were taken aback by the data as they claimed every factory was running at 30% less capacity compared to the same month of last year.

Source: https://www.tbsnews.net/economy/october-exports-fall-rmg-sees-over-3-rise-524778

Stocks up despite weak economic data

The stock markets rose yesterday on the back of a regulator’s decision to allow investors to buy shares on the same day a cheque is deposited with brokerage houses and fresh bets from some big individual investors despite weaker remittance and export data. On Tuesday, Bangladesh Bank data showed that remittance inflow declined 7.4 per cent year-on-year to $1.52 billion in October, the lowest in eight months. And the Export Promotion Bureau yesterday said foreign sales declined 7.85 per cent to $4.35 billion last month. Higher remittance and export earnings are crucial for Bangladesh in its attempt to fight off the impacts of the global crisis and the volatility in the foreign exchange market, which have pushed up the imports of the country, driving down foreign currency reserves and driving up inflation.

Source: https://www.thedailystar.net/business/economy/stock/news/stocks-despite-weak-economic-data-3159301

Postal Department receives Tk 45m as earnings from Nagad

Nagad, the mobile financial service arm of the Bangladesh Post Office, has shared revenue with the Postal Department this year like every year. The Postal Department has formally received Tk 4,50,46,000 as revenue from Nagad’s earnings in the fiscal year 2021-22. Nagad authorities handed over the cheque for the said amount payable to the Postal Department at a programme in the capital’s Agargaon area on Wednesday. Secretary of the Posts and Telecommunications Division Md. Khalilur Rahman received the cheque from Nagad’s Executive Director Md.Shafayet Alam.  Posts and Telecommunications Minister Mustafa Jabbar, Director General of the Postal Department Md. Harunur Rashid, and Nagad’s Founder and Managing Director Tanvir A Mishuk were present there.  Bangladesh Postal Department is entitled to getting 51 per cent of the revenue earned by Nagad as per the agreement between Nagad and the Postal Department.  The remaining (49 per cent) will go to Nagad, reports BSS citing a press release.  

Source: https://thefinancialexpress.com.bd/trade/postal-department-receives-tk-45m-as-earnings-from-nagad-1667392271

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 32,147.76
↓ 505.44 ↓ 1.55%
FTSE100$ 7,144.14↓ 42.02↓ 0.58 %
Nikkei 225$27,663.39↓ 15.53↓ 0.06%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$89.50 ↑ 0.50↑ 0.56%
Crude Oil (Brent)$95.78 ↓ 0.38↓ 0.40%
Gold Spot$1,637.18↑ 1.94↑ 0.12%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 100.5000
BDT 103.7500

*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