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 28, 2021

Profit growth signals strong economic rebound

Listed companies across almost all sectors saw their profits rise 8.6 per cent on average in the first quarter of the ongoing fiscal year, indicating that Bangladesh is making a strong economic recovery from the Covid-19 pandemic. The collective profits of 288 listed companies stood at Tk 7,203 crore in the July-September period of 2021-22, up from Tk 6,631 crore a year earlier, according to Sandhani Asset Management Company. Although the Dhaka Stock Exchange features a total of 384 enterprises, some 288 were analysed as the remainder were either listed after 2018 or are yet to publish their quarterly financial reports. Bangladesh earned about $11.02 billion from exports in the first three months of the current fiscal, up 11.37 per cent year-on-year from $9.89 billion, data from the Export Promotion Bureau showed. As such, listed companies saw their profits climb 38 per cent year-on-year to Tk 6,631 crore in the first quarter of FY2020-21. With this backdrop, the profit growth in the recently ended quarter is seemingly low even though it is at a considerably normal level. Profits of Beximco Ltd, British American Tobacco Bangladesh, and United Power Generation stood at Tk 360 crore, Tk 294 crore and Tk 289 crore respectively. The profits of listed companies during the period had dropped 7 per cent year-on year to Tk 4,778 crore compared to Tk 5,175 crore the year before. ICB, ACI, Al-Arafah Islami Bank, Exim Bank, RN Spinning Mills, and Heidelberg Cement incurred a combined loss of Tk 260 crore in July-September 2019 after logging profits in the same quarter the previous year.

Source: https://www.thedailystar.net/business/economy/news/profit-growth-signals-strong-economic-rebound-2904571

 Tourism’s share 3.02pc in GDP

Tourism’s contribution to the gross domestic product (GDP) is estimated at 3.02 per cent by the Bangladesh Bureau of Statistics (BBS). In local currency, this amounts to Tk 76,690.7 crore. The sector also accounted for 8.07 per cent of total employment, according to the BBS’s Tourism Satellite Account 2020, which was based on the data of the fiscal year of 2018-19. The report basically gives an economic measurement of tourism, integrating data about the supply and use of tourism-related goods and services. Domestic tourists spent an estimated Tk 74,959.2 crore. Some 44.30 per cent of households reported to have embarked on at least one same-day trip with an average of 2.72 participants. Around 64.14 per cent reported at least one overnight trip with 2.56 participants. The average duration was 3.46 nights. Of the same-day visitors, the highest 41.26 per cent had gone to visit friends and relatives. Another 20.78 per cent sought health and medical services and 16.69 per cent went shopping.

Source: https://www.thedailystar.net/business/economy/industries/tourism/news/tourisms-share-302pc-gdp-2904556

New law lists bankers’ digital books as legal evidence

Parliament yesterday passed the Bankers’ Book Evidence Bill 2021, defining digitally recorded documents used in the ordinary business of banks as legal evidence admissible in court. Finance Minister AHM Mustafa Kamal placed the bill that was passed by voice vote. The new law is going to replace the Bankers’ Book Evidence Act 1891 that lacked the concept of digitally recorded evidence. The new law has suggested making information public, except for privileged and personal information, on taking permission from a court of law and fixing authorities who can do that.

Source: https://www.thedailystar.net/business/economy/industries/investments/news/well-timed-regulatory-policy-reforms-draw-more-fdi-2904536

 StanChart arranges country’s first-ever green bond

Standard Chartered Bangladesh has arranged the first-ever green bond in Bangladesh as it mobilised Tk 150 crore for Pran Agro Ltd, a concern of Pran-RFL Group. The bond proceeds will be used to finance green and energy-efficient initiatives of the conglomerate, the bank said in a press release yesterday. Pran Agro will use the proceeds of the bond for initiatives such as recycling waste water, climate action through waste decomposing, building sustainable communities by providing employment among rural and poverty-stricken communities, and preserving life on land through contract-based organic farming. Standard Chartered is leading the debt capital market in Bangladesh. Since 1997, the financing solutions unit of the international lender has put together more than the equivalent of $7 billion in local and foreign currency syndicated loans/debt facilities in the power, telecommunication, infrastructure, food and beverage, textile, service, and other key sectors.

Source: https://www.thedailystar.net/business/organisation-news/news/stanchart-arranges-countrys-first-ever-green-bond-2904551

Daraz wins Mastercard Excellence Award 2021

Online marketplace Daraz Bangladesh recently won a “Mastercard Excellence Award 2021” in “Excellence in Mastercard Business (Merchant)– Online 2020-21” category. Khondoker Tasfin Alam, chief operating officer of Daraz Bangladesh, received the award at the Sheraton Dhaka.

Source: https://www.thedailystar.net/business/organisation-news/news/daraz-wins-mastercard-excellence-award-2021-2904466

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 34,899.34
↓ 905.04↓ 2.53 %
FTSE100$ 7,044.03↓ 266.34↓ 3.64 %
Nikkei 225$ 28,751.62↓ 747.66↓ 2.53 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 68.15↓ 10.24↓ 13.06 %
Crude Oil (Brent)$ 72.72↓ 9.50↓ 11.55 %
Gold Spot$ 1,802.59↑ 13.74↑ 0.77 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 85.8000
GBP 1BDT 114.3628
EUR 1BDT 96.1046





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