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 04, 2020

Registration of new firms hits an all-time high

Registration of new firms in Bangladesh rose to an all-time high of 11,110 in the last fiscal year, highlighting the expansion of business activities and people’s enthusiasm about setting up fresh ventures. The figure is 24.32 per cent higher from the fiscal year of 2018-19, when 8,936 registrations were taken, according to data from the Office of the Registrar of Joint Stock Companies and Firms (RJSC).Registration obtained for setting up new companies rose 50 per cent to 9,010 in FY20 from 6,945 a year ago. Some 250 registrations were taken to establish societies and 1,827 for partnership firms, respectively up from 229 and 1,740 a year ago.In the first two months of the current fiscal year, 2,279 registrations were obtained from the RJSC, including 1,892 for companies, 45 for societies and 228 for partnership firms. Some 245,655 registrations were secured from the RJSC so far. They include 3,532 for public limited companies, 175,932 for private limited companies, 932 for foreign firms, 49,180 for partnership firms, 1,121 for trade bodies and 14,958 for societies.A data centre and a data recovery centre should be established as soon as possible to keep electronic records. It also issues certified companies of files and records. Companies need to secure permission from the agency if they want to wind up operations.

Source: https://www.thedailystar.net/business/news/registration-new-firms-hits-all-time-high-1972097

SCB first bank to issue Tk 8.50b zero coupon bond

Standard Chartered has received all the regulatory approvals for issuing BDT 8.50 billion Zero Coupon Bond. This would be the first Zero Coupon Bond issued by a foreign bank in Bangladesh. It marks another trailblazing transaction for the Bank in Bangladesh and is an important milestone in the development of Bangladesh’s debt capital market. The Zero-Coupon Bond will open up alternate investment avenues for corporates and individuals. With this offering, the Bank is leveraging strong investor confidence in its strategy and outlook, and the quality of its financial position, to increase its liquidity. The funds raised will support the Bank’s overarching mission of being a partner in progress to the nation.Standard Chartered’s issue is a non-convertible, unsecured, fully redeemable, zero coupon bond. The maturity period for the product will be 5 years from the date of issue. Green Delta Insurance Company Limited will act as the trustee for this issue.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/scb-first-bank-to-issue-tk-850b-zero-coupon-bond-1601734583

The 35th annual general meeting of National Life Insurance Company Ltd

The 35th annual general meeting (AGM) of National Life Insurance Company Ltd was held recently on a digital platform. MorshedAlam MP, Chairman of the company, presided over the meeting while Acting Chief Executive Officer Md. Kazim Uddin and Company Secretary Mohammad Abdul WahabMian were present. The AGM approved 28 per cent cash dividend for the year 2019.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/the-35th-annual-general-meeting-agm-of-national-life-insurance-company-ltd-was-held-recently-on-a-digital-platform-1601734693

EU trade benefits may continue even after LDC graduation

Bangladesh may continue to enjoy duty-free trade benefits in the European Union for a few more years even after its graduation from the group of least developed countries (LDCs) as the pandemic fallouts have ravaged the economy.The EU is set to review its duty-free facilities under the Everything but Arms (EBA) agreementin November. Under the EBA, all imports to the EU from the LDC are duty- and quota-free, with the exception of armaments. In the meeting, the secretary will lead the Bangladesh delegation, featuring various secretaries from the labour and foreign ministries and two other government bodies that he could not immediately mention.Earlier, Bangladesh joined hands with its peer LDCs to appeal to the WTO for a continuation of the trade benefits they currently enjoy following graduation to developing nations considering the pandemic’s ill-effect on economies. Noting Bangladesh’s economic development record, the UN Committee for Development Policy (UN CDP) is scheduled to complete the final round of assessment for the country’s graduation in 2021. If the UN CDP finds the assessment positive, Bangladesh will graduate to the status of a developing country in 2024.Bangladesh’s export will decline 5.7 per cent annually if the EU’s EBA initiative is not extended as local exporters will then have to face an 8.7 per cent duty on exports to the EU. So, there is a possibility of losing more than $2 billion worth of export business annually after graduation, according to the United Nations Industrial Development Organisation. In early April, WTO economists projected a steep fall in trade in 2020, with the main question being the sheer depth of the decline.

Source: https://www.thedailystar.net/business/news/eu-trade-benefits-may-continue-even-after-ldc-graduation-1972057

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 27,682.81
FTSE100$ 5,902.12↑22.67↑0.39%
Nikkei 225$ 23,029.90↓155.22↓0.67%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 37.05↓1.67↓4.31 %
Crude Oil (Brent)$ 39.27↓1.66↓4.06 %
Gold Spot$ 1,899.84↓6.17↓0.32%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 84.8100
GBP 1BDT 109.5745
EUR 1BDT 99.4143
INR 1BDT 1.1529





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