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 11, 2023

Earnings from spice exports rise 25%

Bangladesh’s earnings from spice exports increased 25 percent year-on-year in the first three months of fiscal 2023-24 due to demand from expatriates of Bangladesh and other Asian countries. Bangladesh earned $11.25 million in the July-September period of the current fiscal year from spice exports, according to Export Promotion Bureau (EPB) data. Although export earnings have been increasing for the past three years, they still have not hit the heights of the same period in the fiscal year 2020-21. At that time, spice exports brought in $12.14 million, an increase of 41 percent from the previous fiscal year, as per EPB data. The spices most in demand are turmeric (organic base), red dried chilli, sesame (black, white brown and red), coriander seed, black cumin seed, cumin seed (sweet), fenugreek seed and fenugreek leaf.

Source: https://www.thedailystar.net/business/economy/news/earnings-spice-exports-rise-25-3440126

Tk 7,000cr scheme for farm sector launched

The government will today launch a Tk 7,000 crore project to boost the commercialization of farming and accelerate agricultural exports by facilitating the expansion of safe food production. Mostly financed by the World Bank, the initiative aims to expand the cultivation of fruits and vegetables following Good Agricultural Practices (GAPs) to 3 lakh hectares of land, according to project officials. The five-year project, which is the biggest of its kind till date, is scheduled for completion in June 2028. The initiative also aims to expand the cultivation of climate resilient and high-yielding varieties of rice while also increasing the acreage of pulses, oilseeds and horticulture crops to 2 lakh hectares each. The initiative comes at a time when Bangladesh is registering increased production of crops, particularly vegetables and other high value produce, as a section of people have taken up farming as a major source of income. However, concerns remain regarding food safety as there are allegations of excessive application of pesticides.

Source: https://www.thedailystar.net/business/economy/news/tk-7000cr-scheme-farm-sector-kicks-3440096

25 banks keep NPLs below 5%

With the high rate of non-performing loans (NPLs) being a major challenge for the banking sector, just 25 of the 61 commercial banks in Bangladesh are managing to keep their NPL rates below 5 percent. Additionally, 11 of these 25 lenders registered NPL rates of less than 3 percent by the end of June this year, according to data of Bangladesh Bank. Industry insiders say the banks with low NPL rates practise good governance while their board of directors avoid interfering with management activities, making these lenders financially sound. However, simply having a low NPL rate does not always indicate good financial health. This is because it is only natural for newer banks to report lower rates of loan default considering how they have yet to disburse their overall portfolio.

Source: https://www.thedailystar.net/business/global-economy/news/oil-prices-rise-post-biggest-weekly-decline-march-3437656

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 33,739.30
↑ 134.65↑ 0.40 %
FTSE100$ 7,628.21↑ 136.00↑ 1.82 %
Nikkei 225$ 31,961.79↑ 215.26↑ 0.68 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 86.19 ↑ 0.22 ↑ 0.26 %
Crude Oil (Brent)$ 87.95 ↑ 0.30↑ 0.34 %
Gold Spot$ 1,859.79↓ 0.61↓ 0.03 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 110.5000
BDT 110.5000

*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