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

Click to Close

Rate last updated: 02/01/2014 11:15:04 AM

Daily Business News Flash October 12, 2021

Govt eyes $2b exports in 2yrs

The agriculture ministry plans to double export earnings from fresh vegetables, fruits, processed spices and foods to $2 billion in the next two years by addressing bottlenecks faced by exporters, according to a draft plan. The initiative comes as export receipts from overall agricultural sector crossed $1 billion for the first time in fiscal 2020-21, buoyed by a surge in shipment of dry foods and spices apart from fresh vegetables, fruits and other foods. Bangladesh Agricultural Development Corporation (BADC) has taken steps to increase the capacity of the airport’s cold storage by 120 tonnes. The government has also taken up an initiative to set up globally accredited lab in order to increase export of agricultural goods, which brought $550 million in export earnings five years ago.

Source: https://www.thedailystar.net/business/export/news/govt-eyes-2b-exports-2yrs-2196336

BSEC working for ‘making a vibrant bond market’

Discussants have said the country’s stock market, insurers and pension funds need to play a significant role in achieving the target of sustainable development goal (SDG). Their suggestions came Monday at a virtual seminar titled ‘Sustainable Finance in Bangladesh: Strategies and Options for Implementation’. President of Bangladesh Association of Publicly Listed Companies (BAPLC) arranged the seminar to observe World Investor Week 2021. More than 5200 companies are listed with Indian Stock Exchange while the number is 750 in Vietnam. On the other hand, the number of companies listed with the country’s stock exchanges is only 388, including 37 mutual funds. BSEC commissioner Mr. Ahmed also said the listed companies are required to publish authentic price sensitive information in an effort to restore investors’ confidence and increase good governance. The chairman of Dhaka Stock Exchange (DSE) Md. Eunusur Rahman said the country needs around Tk 78.920 trillion within 2030 to fulfill the target of SDG.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/bsec-working-for-making-a-vibrant-bond-market-1633966745

Salim Osman re-elected BKMEA president

AKM Salim Osman has been re-elected the president of the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) for 2021-23 — his sixth term in a row. Names of the newly elected 35 members of the board of directors were announced at the trade body’s Dhaka office in the city on Monday, according to a BKMEA statement.

Source: https://today.thefinancialexpress.com.bd/trade-market/salim-osman-re-elected-bkmea-president-1633969907

Govt plans to raise agri export to US$ 2.0b

The government has drafted two roadmaps to boost the country’s annual export volume of agricultural goods to two billion US dollars within the next two fiscal years, reports UNB. A views-exchange meeting over the draft roadmaps was held at Bangladesh Agricultural Research Council (BARC) auditorium in the city on Monday. If the recommendations can be implemented, it would be possible to raise the export earnings from agricultural goods to US$ 1.634 billion in the current fiscal year (2021-22) and US$ 2 billion in the 2022-23 fiscal year, according to one of the roadmaps. Another roadmap states that it would be possible to export 80,000 tonnes of potato in 2022, 120,000 tonnes in 2023, 180,000 tonnes in 2024 and 250,000 tonnes in 2025.

Source: https://today.thefinancialexpress.com.bd/trade-market/govt-plans-to-raise-agri-export-to-us-20b-1633969711

No tax fair this year: NBR

Individual taxpayers will have to submit their income tax returns at tax offices this year too as the annual tax fair will not be held this time to avoid mass gatherings amid the Covid-19 pandemic. The National Board of Revenue (NBR) took the decision in a meeting on October 7 regarding facilitating submission of tax returns. The idea of holding a tax fair was to motivate people into paying taxes and increasing the country’s tax-GDP ratio, one of the lowest globally. The tax authority said it would create festive environment in all field offices of taxes from November 1 to November 30, so that taxpayers can furnish returns easily. The NBR had been holding the month-long annual tax fair for years, which usually takes place in November. But due to the coronavirus pandemic, taxpayers had to submit their income tax returns at tax offices last year.

Source: https://www.thedailystar.net/business/economy/industries/tax-customes/news/no-tax-fair-year-nbr-2196331

 Leather goods export exceeds pre-pandemic level

Exports of leather and leather products from Bangladesh exceeded the pre-pandemic level in the first quarter of the current fiscal year as Western economies reopened following extended coronavirus pandemic-induced closures, pushing up demand. Manufacturers shipped leather and leather products worth $271.34 million from July to September, up 21 per cent from $225.15 million in the same period last fiscal year, data from the Export Promotion Bureau (EPB) showed. The receipts were 6.66 per cent higher than $254.39 million recorded in the same three-month period of FY2019-20.  Exporters fetched $324.62 million in the July-September quarter in FY2017-18, the highest in five years. In the first quarter of FY22, leather exports rose 33.29 per cent, leather products 33.34 per cent, and leather footwear 13.72 per cent, EPB data showed.

Source: https://www.thedailystar.net/business/export/news/leather-goods-export-exceeds-pre-pandemic-level-2196361

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 34,496.06
↓ 250.19 ↓ 0.72 %
FTSE100$ 7,146.85↑ 51.30↑ 0.72 %
Nikkei 225$ 28,241.34 ↓ 256.86↓ 0.90 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 80.42↓ 0.10↓ 0.12 %
Crude Oil (Brent)$ 83.64↓ 0.01↓ 0.01 %
Gold Spot$ 1,758.48↑ 4.33↑ 0.25 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 85.6000
GBP 1BDT 116.5444
EUR 1BDT 99.0478





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