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 27, 2022

Private sector driving Bangladesh towards $1-tr economy

Private companies are spearheading Bangladesh’s growth with their energy and optimism, putting the economy on a path to cross the $1-trillion mark by 2040, according to a top global consulting firm. The milestone will be achieved because of private firms’ drive to become world-class global businesses and their ability to recruit the best talent, build globally recognised brands, and compete with leading multinational companies, said the Boston Consulting Group (BCG) in a report. The “Trillion-Dollar Prize Local Champions Leading the Way” report calls private sectors firms as emerging champions. “Bangladesh’s emerging champions are willing to push themselves to embrace more winning traits to go truly beyond great and lead the nation towards becoming a trillion-dollar economy by 2040,” it said. “Bangladesh’s emerging champions are innovative companies that have grown rapidly, created a structural advantage in the domestic market and are ready to pursue global ambitions.” The success of these champions echoes the path of exemplary enterprises in other countries, doubling down on domain expertise, domestic success, and quality talent.

Source: https://www.thedailystar.net/business/economy/news/private-sector-driving-bangladesh-towards-1-tr-economy-3178946

Dollar crisis will ease by January: Salman F Rahman

The ongoing dollar crisis in the country will ease by January next year, said Salman F Rahman, private industry and investment adviser to the prime minister. He said this to journalists while talking to reporters during a visit to Mujibnagar Muktijuddho Smriti Complex (Mujibnagar Memorial) in Meherpur today. The value of the dollar has increased in the international market and that has affected the country’s market, he said. “There has been a crisis all over the world. No one knows how far it will go. But Bangladesh will not fall into any such crisis due to Prime Minister Sheikh Hasina’s visionary thinking and planning.”

Source: https://www.thedailystar.net/business/economy/news/dollar-crisis-will-ease-january-salman-f-rahman-3179921

Bank lending rate being uncapped

Borrowers should brace for costlier funds as lending-rate caps are being phased out to give a much-coveted profitability raise to bankers who lament inflationary pressure on their earnings, sources say. Bangladesh Bank (BB) plans to lift the limits on interest on credits in phases from the third quarter (Q3) of this fiscal year, but ‘unofficial’ hints already begin giving the banks a free play. In accordance with the plan, officials say, the central bank is set to lift the interest- rate cap on SMEs first, to be followed by working capital and industrial term loan in tandem. This reverting to open money market allows banks to raise the rate on interest to “balance out the crushing pressure of inflation”. As part of the move to reintroduce market-driven lending rate, the central bank has verbally but unofficially allowed the banks to enhance interest rate for consumer goods, sources at the BB said. Seeking anonymity, a BB official said they had discussed the matter in recent meetings and decided to remove the ceiling on lending rate in phases so that it does not trigger any panic to any quarter.

Source: https://thefinancialexpress.com.bd/economy/bank-lending-rate-being-uncapped-1669430791

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 34,347.03
↑ 152.97 ↑ 0.45%
FTSE100$ 7,486.67↑ 20.07 ↑ 0.27%
Nikkei 225$ 28,283.03↓ 100.06↓ 0.35%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 76.28↓ 1.66 ↓ 2.13%
Crude Oil (Brent)$ 83.63 ↓ 1.71 ↓ 2.00%
Gold Spot$ 1,754.93 ↓ 0.31↓ 0.02%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 106.5000
BDT 106.5000

*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