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

Click to Close

Rate last updated: 02/01/2014 11:15:04 AM

Daily Business News Flash November 16, 2020

Govt caps MFS’s cash-out charge for safety net funds

The government decision to distribute the fund under its social safety net programme through mobile financial services will ensure transparency and bring more unbanked people under the formal financial system, according to industry people. As part of its move to release the fund smoothly through the mobile financial service (MFS) providers, the government has fixed Tk 7 as the cash-out charge per Tk 1,000 withdrawal for the funds to be disbursed under the social protection programmes, according to a finance ministry circular on Thursday.The government disburses cash support in the form of allowances, honorarium, scholarships and stipends. Besides, other programmes also provide cash support. Currently, Bangladesh runs more than 125 social protection programmes through 20 ministries and divisions. The government has allocated Tk 95,570 crore for social protection purposes in the current fiscal year, which is 16.83 per cent of the entire budget and 3.01 per cent of the GDP.

Source: https://www.thedailystar.net/business/news/govt-caps-mfss-cash-out-charge-safety-net-funds-1995745

Bangladesh on track to becoming a $6b pharma market by 2025

The pharmaceutical market of Bangladesh is expected to surpass $6 billion by 2025 with an absolute growth of 114 per cent from its 2019 levels, according to a report from a Dublin-based market insight and analysis firm, Research and Markets. “The pharmaceutical market has been witnessing excellent growth in recent years, and it is expected to have a compound annual growth rate of more than 12 per cent during the 2019-2025 period,” said the report titled “Bangladesh Pharmaceutical Market Future Opportunity Outlook 2025”.Market players estimate that the local market size of the sector was about Tk 25,000 crore ($3 billion) in 2019. In 2012, it stood at about Tk 9,390 and in 2017 it hit Tk 18,755.6 crore, according to the IMS Health Care Report.The pharmaceutical industry, a winner of the global market through dynamism and technology, experienced tremendous growth in the last decade and currently contributes 1.83 per cent to the country’s gross domestic product (GDP), according to industry people.Local pharmaceutical makers still have immense potential in the healthcare sector, as Bangladeshis spend around $2.04 billion abroad annually for medical treatment, which is 1.94 per cent of the country’s GDP, according to a market analysis by the Bangladesh Investment Development Authority (Bida).Pharmaceutical shipments soared 4.49 per cent year-on-year to $136 million in fiscal 2019-20 following improvements in product quality and policy support. The industry is one of the handful of sectors that ended the fiscal year in the black when national exports fell 16.93 per cent. The sector fetched $130 million in export earnings in fiscal 2018-19 and $103.46 million in fiscal 2017-18.

Source: https://www.thedailystar.net/business/news/bangladesh-track-becoming-6b-pharma-market-2025-1995741

Industries vexed at no-gas plan outside economic zones

A decision by the energy ministry to stop providing new gas connections to the industries outside economic zones and industrial parks from April next year has drawn the ire of industrialists. Trade body and business chamber leaders said they did not fully agree with the initiative as such a sudden move will act as a hurdle to industrialisation. A circular from the Energy and Mineral Resources Division on October 5 said the government would not allow any new gas connections to the industries located outside of economic zones from March 31 next year to bring about industrialisation in a planned way.The government’s decision on planned industrialisation is vital. I am also in favour of the move. However, the investment will be affected as economic zones are not ready to set up industrial plants, he said. The energy and mineral resources division issued the circular citing an instruction of the prime minister at a meeting of the governing body of the Bangabandhu Sheikh MujibShilpa Nagar on October 20, 2019.In order to discourage unplanned industrialisation, all utility services, including power and gas connection will have to be stopped in phases except for that inside the economic zones.” The directive does not apply to the economic zones under the Bangladesh Economic Zones Authority (Beza), and the industrial sites under the Bangladesh Small and Cottage Industries Corporation (BSCIC).There are more than 8.8 million cottage, micro, small and medium enterprises, many of which cannot buy land at the economic zones to set up industries.

Source: https://www.thedailystar.net/business/news/industries-vexed-no-gas-plan-beyond-economic-zones-1995749

Robi, UGC sign MoU

University Grants Commission (UGC) signed an MoU with Robi on Sunday. Robi’s Chief Enterprise Business Officer Md. Adil Hossain and UGC’s Secretary Dr. Ferdous Zaman signed the agreement on behalf of their respective organisations. Robi’s Managing Director and CEO Mahtab Uddin Ahmed and UGC Chairman Prof. Dr. KaziShahidullah were present at the MoU signing ceremony. Under the agreement, Robi will provide 30 GB data pack with 30 days’ validity at an affordable rate to any University willing to take up the facility.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/robi-ugc-sign-mou-1605457924

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 29,479.81
FTSE100$ 6,316.39↓22.55↓0.36%
Nikkei 225$ 25,874.07↑488.20↑1.92%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 40.66↑0.53↑1.32%
Crude Oil (Brent)$ 43.22↑0.47↑1.10%
Gold Spot$ 1,894.80↑5.60↑0.30%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 84.8000
GBP 1BDT 111.8512
EUR 1BDT 100.3693
INR 1BDT 1.1524





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