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 29, 2020

Govt likely to ease rules on duty-free fabric use to export high-end apparels

The government may ease the rules on the use of fabric imported duty-free to help local manufacturers shift to high-end apparels and boost export earnings as firms generate more waste while producing fancy items for international markets. In 1998, the commerce ministry set the waste ratio for garments between 7 to 9 per cent. Even at that time, local manufacturers and exporters had said that the limit was far too little considering the amount of material used for a finished product. Since more fabric inevitably gets wasted in the making of high-end garment items, both manufacturers and exporters have urged the government to increase the limit to up to 30 per cent or more. Customs offices sometimes delay releasing goods from ports because of a mismatch in the amount of fabric imported and its consumption for making finished apparel goods for export under bond licences. About 40 per cent of all garment items shipped from Bangladesh are high-end products. KM Rezaul Hasanat, chairman and CEO of Viyellatex Group, a leading garment exporter, said composite mills usually end up wasting around 40 per cent of its materials. For instance, from yarn to fabric (knitting, dyeing and finishing) 12-15 per cent waste was generated. The amount was 15-18 per cent for pattern designs, 5-8 per cent during the print, embroidery and wash phase and 2-3 per cent during sewing. At the meeting with bond officials last week, garment exporters showed that a prominent local manufacturer’s waste was calculated at 40.24 per cent between 2015 and 2018. Visible waste accounted for 8.43 per cent, invisible waste 9.72 per cent, cutting waste 15.38 per cent, cut panel waste 5.66 per cent and rejected garment waste 4.95 per cent, according to a document submitted to the bond office by garment exporters.

Source: https://www.thedailystar.net/business/news/govt-likely-ease-rules-duty-free-fabric-use-export-high-end-apparels-2002869

Govt looks to double exports to Canada

The government plans to double Bangladesh’s exports to Canada within the next three years by boosting the shipments of goods made by small-and-medium enterprises, particularly jute products. Bangladesh currently earns about $1 billion from exports to Canada and we want to increase this further. Bangladeshi exports to Canada amounted to around $1 billion in fiscal 2019-20, down 25 per cent from $1.33 billion the previous year, data from the Export Promotion Bureau (EPB) shows. The Export Launchpad Bangladesh is a technical assistance project which consists of a train-the-trainers activity and aims to consolidate the knowledge of theoretical and practical aspects of international trade. The awarded officials are from the Bangladesh Foreign Trade Institute, Business Promotion Council, Brac Bank, City Bank, Dhaka Chamber of Commerce and Industry, Export Promotion Bureau, SME Foundation, Women Entrepreneur Association of Bangladesh and Women Entrepreneur Network for Development.

Source: https://www.thedailystar.net/business/news/govt-looks-double-exports-canada-2002813

Interference from tobacco industry in Bangladesh highest in South Asia

Bangladesh is still highly susceptible to interference from the tobacco industry as the country scored 68, the highest among its South Asian peers, in the Tobacco Industry (TI) Interference Index 2020, according to anti-tobacco campaigner PROGGA. Meanwhile, India and Pakistan came second and third after Bangladesh in terms of the overall score in the index, PROGGA said yesterday while unveiling Bangladesh’s ranking, which was based on occurrences of interference by tobacco companies in 2019. Bangladesh scored 77 in 2018. The anti-tobacco campaigner said the improvement came about in the 2020 index as the health ministry did not accommodate the tobacco industry’s unsolicited opinions on the draft National Tobacco Control Policy 2019. PROGGA said the index was part of a global initiative conceptualised and initiated by the Southeast Asia Tobacco Control Alliance to promote the implementation of Article 5.3 of the WHO Framework Convention on Tobacco Control (FCTC). The index attempts to gauge how the government was responding to the tobacco industry’s tactics by using the FCTC Article 5.3 Guidelines. The score for the index is developed based on 20 questions, divided into seven categories and only from publicly available sources including government websites, reports published in mass media, and websites of tobacco companies, said PROGGA, also a research and advocacy organisation. The scoring for questions ranges from 1 to 5. The lower the score is, the better the compliance with FCTC Article 5.3, said the anti-tobacco platform.

Source: https://www.thedailystar.net/business/news/interference-tobacco-industry-bangladesh-highest-south-asia-2002837

Govt to ensure all facilities for Mirerswari economic zone

Development of Chattogram means development of Bangladesh. So, the incumbent government is increasing the facilities to develop Chattogram. Prime Minister Sheikh Hasina is very cordial for the development of the port city. All should work together about development of Chattogram. The government has many development plans for Bangabandhu Economic Zone at Mirerswari. Government will ensure gas, water and all other facilities for the Mirerswari economic zone in Chattogram. The government set a target to produce 85,000 MW of power by 2041.

Source: https://today.thefinancialexpress.com.bd/trade-market/govt-to-ensure-all-facilities-for-mirerswari-economic-zone-1606577923

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 29,910.37
↑ 37.90↑ 0.13 %
FTSE100$ 6,367.58↑ 4.65↑ 0.07 %
Nikkei 225$ 26,644.71↑ 107.40 ↑ 0.40 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 45.53 ↓ 0.18↓ 0.39 %
Crude Oil (Brent)$ 48.18↑ 0.38↑ 0.79 %
Gold Spot$ 1,787.79 ↓ 28.01↓ 1.54 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 84.8000
GBP 1BDT 113.5133
EUR 1BDT 101.0477
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