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, 2021

Bangladesh brimming with investment opportunities

Investment opportunities have opened up in Bangladesh for its competitive wages, strategic location, stable policies, exchange rate and political situation, developing infrastructure and huge youth population, said Ahmad Kaikaus, principal secretary to the prime minister. In tune with its higher growth aspirations, Bangladesh has set a target to lift foreign direct investment to 3 per cent of its gross domestic product by 2031. The Bangladesh Investment Development Authority (Bida) organised the event, sponsored by the International Finance Corporation (IFC). The government created the Bida, the Bangladesh Economic Zones Authority, Bangladesh Export Promotion Zones Authority, and the Bangladesh Hi-Tech Park Authority to ensure adequate investment facilities and a conducive environment. The country has achieved immense economic development in the past 12 years and created apt investment scopes. The country even attained 5.4 per cent GDP growth despite the Covid-19 fallout. Anwar also said the IFC provided $2.5 billion in the past five years to different sectors to build up the private sector’s confidence.

Source: https://www.thedailystar.net/business/economy/industries/investments/news/bangladesh-brimming-investment-opportunities-2905361

 Olympic to invest Tk25cr to expand bakery business

Olympic Industries Ltd, the maker of popular biscuit brands such as Energy Plus, Tip and Nutty, has announced that it would invest Tk 25.65 crore to expand its production capacity to meet growing demands. The top bakery and confectionery product manufacturer in the country disclosed the information yesterday in a regulatory filing on the website of the Dhaka Stock Exchange. Its stock rose 1.25 per cent to Tk 162.1. The company has retained earnings of Tk 723 crore, said the financial report for 2020-21. Of the Tk 25.65 crore planned investment, Tk 6.49 crore will be invested in the first phase to import and set up cupcake making line to produce plain and custard cakes, along with buying packaging line, nitrogen generator, metal detector, and other items from China. Thanks to the investment, the plain cake production capacity would be 475.2 lakh pieces annually and custard cake production capacity would be 316.80 lakh pieces. The line will be established in its factory in Lolati, Narayanganj. Its sales rose 11.86 per cent to Tk 1,803 crore in 2020-21. It logged profits of Tk 203 crore, slightly up from the previous year’s Tk 202 crore. The export of biscuits and confectionery items rose 8 per cent to Tk 25.65 crore in 2020-21. It will invest around Tk 8.50 crore to construct a 5-storey building with a total 73,000 square feet floor area and undertake an extension of 7,300 square feet tin shed area in its Kutubpur unit. It plans to invest around Tk 1.66 crore to enhance the production capacity of the corrugated carton unit at Kutubpur from 6-6.50 million cartons to 8 million cartons per month.

 Source: https://www.thedailystar.net/business/news/bangladeshi-products-have-huge-potential-market-thailand-envoy-2901036

Green Delta Insurance partners with Robi

Green Delta Insurance’s health insurance package ‘Hospicash’ is now available countrywide through Robi Axiata Ltd’s digital sales channel, namely, rStore. Now, the customers can purchase the popular hospicash health insurance packages from the nearby network of 10,000+ rStores. Robi Axiata Limited and Green Delta Insurance Company Ltd have recently signed an agreement in this regard. Two exclusive hospicash packages will be sold at a very competitive price through rStores under this partnership. The packages will cover disability, hospitalization, surgery, OPD costs, hospicash and accidental cash with a reasonable annual premium. By removing the hassle of traveling long distances and filling up numerous forms, the initiative promises to benefit both retailers and end users in multiple aspects.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/green-delta-insurance-partners-with-robi-1638117620

Core index tumbles to four-month low on fresh virus scare

Stocks witnessed yet another big fall on Sunday, with the key index of the prime bourse falling below 6,800-mark, as worried investors continued to dump their holdings to avoid further erosion in their investments. DSEX, the prime index of Dhaka Stock Exchange (DSE), slid 78.19 points or 0.82 per cent to settle at 6,773, which is the lowest in nearly four months since August 19 of this year. The core index eroded more than 318 points in just six trading days while the index shed 594 points since reaching its recent peak at 7,367 on October 10 this year. Turnover, a crucial indicator of the market, also fell to a fresh seven months low to Tk 8.37 billion on Sunday, in a further decline by 1.41 per cent over the previous day’s tally of Tk 8.49 billion. General insurance lost the most of 2.10 per cent, followed by financial institutions with 1.90 per cent, power 1.0 per cent, banking 0.90 per cent, textile 0.80 per cent, pharma 0.70 per cent and food 0.20 per cent. More than 78 per cent traded issues lost their price, as out of 372 issues traded, 291 declined, 66 advanced and 15 remained unchanged on the DSE trading floor. Beximco was the most traded stock with shares worth Tk 917 million changing hands, followed by ONE Bank (Tk 571 million), IFIC Bank (Tk 464 million), Paramount Textile (Tk 435 million) and First Security Islami Bank (218 million).

Source: https://today.thefinancialexpress.com.bd/stock-corporate/core-index-tumbles-to-four-month-low-on-fresh-virus-scare-1638117427

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$ 28,583.51↓ 168.11↓ 0.58 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 71.63↑ 3.48↑ 5.11 %
Crude Oil (Brent)$ 75.76↑ 3.04↑ 4.18 %
Gold Spot$ 1,793.66↓ 8.93↓ 0.50 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 85.8000
GBP 1BDT 114.4915
EUR 1BDT 97.1342





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