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 5, 2023

Commuting on north-south metro rail begins

People are all agog to ride past Dhaka’s nagging traffic impasse by overhead train as commercial operation of the city’s maiden metro rail through its 20-kilometre corridor from Uttara to Motijheel starts today, after Saturday’s ceremonial inauguration. At 7:30am, two trains from both ends will roll on the double-track elevated metro rail across the capital city, where all roads below are jammed with variegated slow-and fast-moving vehicles that kill long man hours. Prime Minister Sheikh Hasina took the first trip after formal inauguration Saturday of the Agargaon-Motijheel part of the metro rail under mass rapid transit (MRT)-6 package. She also later inaugurated physical works on the MRT-6 metro- rail line being built as subway crossing the city in east-west direction under the ground.

Source: https://today.thefinancialexpress.com.bd/first-page/commuting-on-north-south-metro-rail-begins-today-1699116854

Money stashed outside banks reverses course

Deposits that flew out of banks’ vaults for trust deficit and lower rates of return have now taken a reverse course to enter the banking channel, as banks have lately raised interest rates, sources said. According to officials and bankers in the know, such reversal comes as a matter of blessing for the banking sector that now passes through a tough time because of looming major liquidity crunch amid central bank’s recent belt-tightening steps to squeeze fund supply into the money market to tame inexorable investment. According to latest statistics of Bangladesh Bank (BB), the volume of currency outside the banks was recorded at Tk 2.92 trillion in June 2023 that declined to Tk 2.66 trillion in July and Tk 2.58 trillion in August. Now, in the climb-down, the money tucked under mattress dropped to Tk 2.53 trillion in the month of September. Managing director and CEO of Dhaka Bank Limited Emranul Huq said currency outside the banks had increased largely because of trust deficit following some reported loan-related irregularities in some Sharia-based banks, and depositors driven by the fear of losing their money withdrawn the funds not only from the unconventional banks but also from the banks having poor ratings.

Source: https://today.thefinancialexpress.com.bd/first-page/money-stashed-outside-banks-reverses-course-1699116624

Ghorashal-Polash urea plant goes into production Nov 12

The long-awaited Ghorashal-Polash Urea Fertiliser Factory in Narsingdi is set to start functioning next Sunday (November 12). The largest in South East Asia, according to industries ministry, the plant has a capacity to produce 0.92-million tonnes (924,000 tonnes) of urea annually. Prime Minister Sheikh Hasina will inaugurate the commissioning of the factory. A ministry official told the FE on Saturday that the factory would not only produce fertiliser, but also help the country reduce its reliance on imports. The factory would help provide employment of around 30,000 people directly and indirectly, he added. The factory has been built on 110 acres of land. The factory will produce 2,800 tonnes of urea daily with an estimated 1.0-million tonnes yearly.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/lafargeholcim-profit-jumps-54pc-on-higher-sales-revenue-1698681562

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 34,061.32
↑ 222.24↑ 0.66 %
FTSE100$ 7,417.73↓ 28.80↓ 0.39 %
Nikkei 225$ 31,949.89↑ 348.24↑ 1.10 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 80.51↓ 1.95 ↓ 2.36 %
Crude Oil (Brent)$ 84.89 ↓ 1.96↓ 2.26 %
Gold Spot$ 1,992.65↑ 6.87↑ 0.35 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 110.8000
BDT 110.8000

*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