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 October 03, 2022

Exports slip after 13 months

Export earnings dropped 6.25 per cent year-on-year to $3.9 billion in September, the first fall in 14 months, as the cost-of-living crisis in the western countries took its toll on Bangladesh’s main foreign currency earning sector.The decline came as the garment shipment, which accounts for about 85 per cent of national exports, went down by 7.52 per cent to $3.16 billion in the month, according to data from the Export Promotion Bureau (EPB). In September, woven exports slipped 5.66 per cent to $1.43 billion while knitwear shipments dipped 9 per cent to $1.73 billion. The contraction in export earnings came as European and American buyers continue to struggle amid higher consumer prices.

The shipment of woven garment items has been displaying a strong rebound because of the improvement in the coronavirus pandemic situation as the people have returned to offices and are going out and attending social events. “We expect that the earnings from the garment sector will rebound strongly from December as international retailers and brands are confirming previously stalled orders,” said Faruque Hassan, president of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA).

Source: https://www.thedailystar.net/business/economy/news/exports-slip-after-13-months-3133661

Plastic industry has huge possibility to grow in Bangladesh: Bengal Director

For the last two decades, the use of plastic in the country is continuously rising and it is being a substitute for wood and metal because of its light weight and durability. So there is a huge possibility for the plastic sector to grow here, said MrHumayunKabir, director of the Bengal Plastic Ltd, one of the largest market players in the plastic industry. MrHumayunKabir, also the son of the Bengal Group’s Chairman and founder MrMorshedAlam, came up with his views on the prospect of the industry in an interview with The Business Standard.

Since 2005, Bangladesh’s plastic market has increased five times. Currently, our per capita plastic consumption is 9 kilogrammes.But the consumption is 130kg in developed countries like the US and it is 100kg in Europe.And in Bangladesh, in accordance with the development of people’s standard of living, the consumption of plastic is on the rise. The 9kg per capita consumption is related to only domestic uses of plastic, apart from the industrial and building material.So there is still more room for improvement and a huge opportunity to make the market bigger. Currently, our major challenge is the energy crisis, including gas and electricity. Frequent power shuts are cutting our productivity. In the plastic industry, a one-minute power cut means a loss of one-hour production. The material that remains in the machine gets damaged. We need an uninterrupted power supply. Another challenge is the plastic sector needs continuous investment to remain state-of-the-art in the market. But an investment-friendly financing mode is absent in our country. We need long-term loans. But our policy does not support such loans.

Source: https://www.tbsnews.net/economy/industry/plastic-industry-has-huge-possibility-grow-bangladesh-bengal-director-507454

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
Nikkei 225$26,069.93↓132.72↓0.51%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$81.58↑2.09↑2.63%
Crude Oil (Brent)$87.29 ↑2.15↑2.53%
Gold Spot$1,662.78 ↓2.17↓0.13%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 104.4000
BDT 105.2000

*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