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 18, 2022

Bangladesh seeks new investments from UK

Bangladesh has sought new and enhanced investments from the UK in different sectors, including clean energy, ICT and agriculture. Foreign Minister AK Abdul Momen had a meeting with Lord Karan Faridoon Bilimoria, a crossbench member of the British House of Lords and former president of the Confederation of British Industry, at his office Monday and discussed issues of mutual interest. He recalled their meeting in September in London when Lord Bilimoria called on Prime Minister Sheikh Hasina. Sheikh Hasina visited the UK last month to attend the funeral of Queen Elizabeth II. The foreign minister thanked Lord Bilimoria for promoting the British curry industry, dominated by the British-Bangladeshi diaspora. Momen requested the member of the House of Lords to use his good offices to address some of the persistent challenges faced by the industry, including visas in favour of skilled or semi-skilled workers.

Source: https://www.tbsnews.net/bangladesh/bangladesh-seeks-new-investments-uk-515358

With Tk300cr investment, Far Chemical enters spinning business

Far Chemical Industries entered the spinning industry by starting production on a trial basis Monday, according to a company disclosure, as the stock market-listed firm aims at tapping deemed export potentials. The business diversification costs Far Chemical Tk300 crore in the spinning investment, according to the company disclosure on the Dhaka Stock Exchange (DSE) website. The firm has arranged the investment by bank loans and from its own sources. The company’s daily spinning capacity is 18 tonnes, but the rolling blackouts now cripple 30% of the production, according to the official data. Far Chemical initially set up 33,600 spindles in the production line in Narayanganj’s Rupganj, as the new spinning machines have been imported from Germany, Italy, Japan and Switzerland. The annual revenue of the spinning unit will be around Tk230 crore, while 15% net profit will be generated from the total revenue, said the management of the firm.

Source: https://www.tbsnews.net/economy/tk300cr-investment-far-chemical-enters-spinning-business-515350

Sri Lanka slashes fuel prices

Crisis-hit Sri Lanka slashed fuel prices on Monday, the second cut in as many weeks, after the World Bank warned that the economy will shrink an unprecedented 9.2 per cent this year. The energy ministry said the price of petrol will be reduced by 40 rupees to 370 rupees ($1.02) a litre from Monday night after a similar 10 per cent reduction earlier this month. But the price of regular petrol is still twice the amount before the start of the crisis last year while diesel is three and a half times more than what it was in December 2021. Earlier this year motorists spent weeks to get fuel, contributing to weeks of protests that forced President Gotabaya Rajapaksa to flee the country in July and quit. The wait at the pumps has reduced to a few hours in recent weeks, but fuel is still strictly rationed because of an enduring shortage of dollars needed to pay for essential imports. Public transport also ground to a halt due to a lack of diesel but now services are almost back to normal, although many fares — in common with soaring prices for other services and goods — have doubled. Official annual inflation rates are running at close to 70 per cent.

Source: https://www.thedailystar.net/business/global-economy/news/sri-lanka-slashes-fuel-prices-3145396

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
↑ 550.99 ↑ 1.86%
FTSE100$ 6,920.24↑ 61.45↑ 0.90%
Nikkei 225$27,010.31↑ 234.52↑ 0.88%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$86.20 ↑ 0.74↑ 0.87%
Crude Oil (Brent)$92.30↑ 0.68↑ 0.74%
Gold Spot$1,659.28 ↑ 9.19↑ 0.56%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 100.0600
BDT 103.6465

*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