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 23, 2021

Bangladesh could capture $1.2b of recycled textile industry

Bangladesh has the potential to produce $1.2 billion worth of recycled textile and garment items as the country has a big production base for cotton fibre clothing items, according to a recent study by the Global Fashion Agenda (GFA) and McKinsey & Company. In total, six major manufacturing countries — Vietnam, Turkey, India, Malaysia, Indonesia and Bangladesh — could tap into a $4.5 billion market in the form of this post-industrial recycling opportunity, as per the analysis. In 2020, the overall uptake of recycled fibres compared to the total fibre production was only around 8.1 per cent, with 7.6 per cent coming from recycled polyester from plastic bottles, not textiles. Cotton accounted for 24 per cent, or 26.5 million tonnes, of the global fibre market in 2020, while recycled cotton made up less than 1 per cent. From November 2020 to November 2021, the CFP mapped and traced 1,013 tonnes of textile waste on the Reverse Resources platform with 0.2 per cent of this waste coming from Bangladesh. It now regularly traces over 200 tonnes per month.

Source: https://www.thedailystar.net/business/economy/industries/news/bangladesh-could-capture-12b-recycled-textile-industry-2900571

 Deals inked for $2.66b Japanese loans

Japan will provide $2.66 billion to Bangladesh to support construction of two major mega projects, including building of Dhaka’s first underground metro rail project, said a statement from the finance ministry. Matarbari Ultra Super Critical Coal-Fired Power Project, one of the major power generation schemes of the government, is another project for which the world’s third-largest economy will provide $1.2 billion. Japan has already provided $2.63 billion for the project at Matarbari area of Maheshkhali upazila under Cox’s Bazar district. The project comprises two units, each of which would produce 600 megawatts of electricity. Beginning in July 2014, the project is set to be implemented by June 2023. Up until October 2021, some 49 per cent of the project has become visible, while 51 per cent of the money has been spent. Tokyo earlier provided around $500 million for the 31.2-kilometre MRT Line-1. The project implementation cost is estimated at Tk 52,561.43 crore. The Japan International Cooperation Agency will provide Tk 39,450.32 crore. Beginning in September 2019, the project is set to be completed by December 2026. The $365 million budget support comes with an interest rate of 0.55 per cent and a repayment period of 30 years, including a 10-year grace period. When the pandemic emerged in 2020, Japan provided the first-ever budget support of $320 million to Bangladesh.

Source: https://www.thedailystar.net/business/global-economy/news/deals-inked-266b-japanese-loans-2900566

 Investment summit begins on Nov 28

Bangladesh Investment Development Authority (BIDA) is going to organise a two-day investment summit from November 28 to focus on the development of the investment environment in the country, reports BSS. BIDA will organise the summit in association with Bangladesh Economic Zones Authority (BEZA), Bangladesh Export Process-ing Zones Authority (BEPZA), Bangladesh Hi-Tech Park Authority (BHTPA), Public Private Partnership Authority (PPPA), Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and Foreign Investors’ Chamber Of Commerce and Industry (FICCI). The summit will be held at the Radisson Blu Dhaka Water Garden in the city.

Source: https://today.thefinancialexpress.com.bd/trade-market/investment-summit-begins-on-nov-28-1637603426

$2.67b deals with Jica to finance MRT-1, Matarbari power plant

The government has inked final agreements amounting to $2.67 billion with the Japan International Cooperation Agency (Jica) to finance the country’s first underground metro rail (MRT Line-1), Matarbari coal-fired plant and also to provide Covid emergency budget support to tackle Covid-19. Fatima Yasmin, secretary to the Economic Relations Division (ERD), and Yuho Hayakawa, chief representative at Jica Bangladesh Office, signed the deals on behalf of respective sides at the National Economic Council auditorium in the capital. ERD officials said $1.10 billion loans from Jica would come as the second tranche for the Dhaka Mass Rapid Transit Development Project (Line 1) and about $1.20 billion as the 6th portion to implement Matarbari Ultra Super Critical Coal-Fired Power Project. A total of $2.3 billion loan will be disbursed as the first tranche of the 42nd ODA Yen Loan Package from Jica, while another $365 million will come as the second of the Covid-19 crisis response emergency support loan. In 2020, Japan provided $320 million as budget support for countercyclical expenditure plan to combat Covid-19 impacts in Bangladesh.

Source: https://www.tbsnews.net/economy/267bn-deals-jica-finance-mrt-1-matarbari-power-plant-333220

SCB partners with global RMG buyers

Standard Chartered Bank has disbursed USD Denominated Pre-Shipment Loans, to support the Ready-Made Garments industry face the challenges imposed by COVID-19. The unique COVID-19 response finance programme was designed through consultation with renowned buyers, enabling enhanced liquidity support for clients in a challenging environment. The Bank’s clients can avail one-year liquidity support for payment of wages, utilities and other operational expenses under this programme, with a moratorium period of 3 months. More than 20,000 workers received their multiple months salaries and festival bonuses on time through these loans.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/scb-partners-with-global-rmg-buyers-1637604369

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 35,619.25
↑ 17.27↑ 0.05 %
FTSE100$ 7,255.46↑ 31.89↑ 0.44 %
Nikkei 225$ 29,774.11↑ 28.24↑ 0.09 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 76.26↓ 0.49↓ 0.64 %
Crude Oil (Brent)$ 79.35↓ 0.35↓ 0.44 %
Gold Spot$ 1,808.51↑ 3.86↑ 0.21 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 85.8000
GBP 1BDT 115.4525
EUR 1BDT 96.8682





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