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 29, 2023

Import cost at Chattogram port falls 9% in Q1 of FY24

Imports via Chattogram port remained virtually unchanged in the first quarter of the current fiscal year, with a year-on-year decline of just 0.12%. However, import costs fell by about 9% during the same period. According to Chattogram Customs House data, about 2,16,30,394 tonnes of goods were imported through the country’s premier seaport in the July-September period of FY24 compared to 2,16,57,444 tonnes imported during the same period of FY23. Import expenditure for the July-September period of FY24 stood at around Tk1,09,430 crore, down by 8.81% from Tk1,20,007 crore for the same period in FY23. Chattogram Customs House received about Tk16,475 crore of revenue from imports in the July-September period of FY24 compared to Tk15,385 crore collected during the same period of FY23.

Source: https://www.tbsnews.net/economy/import-cost-ctg-port-falls-9-q1-fy24-728770

Zara’s suppliers to buy 2,000 tonnes of fibre recycled from cotton waste

Zara owner Inditex, the world’s largest clothing retailer, said on Friday its suppliers would buy 2,000 tonnes of a raw material made out of cotton textile waste by Swedish company Renewcell. Renewcell is one of the world’s first commercial-scale textile-to-textile recycling factories that helps clothing retailers replace virgin fibres with recycled textiles. It produces a textile pulp made from chemically recycled cotton waste, branded as Circulose. Inditex, which like other fast-fashion retailers is under pressure to reduce waste and use recycled fabrics, earlier this week signed a deal to buy recycled polyester from a US-based startup. The Spanish company intends to source 25 per cent of its fibres from “next generation” materials by 2030. Levi Strauss has already signed a deal with Renewcell to buy Circulose to make one of its blue jean pants, adding it to organic cotton. Swedish retailer H&M also agreed in 2020 to use Circulose material across its brands over a five-year period.

Source: https://today.thefinancialexpress.com.bd/trade-market/zaras-suppliers-to-buy-2000-tonnes-of-fibre-recycled-from-cotton-waste-1698508039

US economy grows faster than expected

The US economy heated up more than expected in the third quarter, government data showed on Thursday, as a resilient job market helped boost consumer spending, holding off the prospect of a recession. Analysts have raised fears of a downturn as the US central bank started lifting interest rates rapidly last year to fight inflation, but the world’s biggest economy has so far defied these predictions. A key factor is the strong labor market, which has provided healthy wage growth, allowing consumers to keep spending even as they draw down on pandemic-era savings. Gross domestic product growth came in at an annual rate of 4.9 percent for the July to September period, the quickest pace since late 2021. A 4.0 percent leap in consumption propelled GDP growth — contributing 2.7 percentage points to the headline number.

Source: https://www.thedailystar.net/business/global-economy/news/us-economy-grows-faster-expected-3455586

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 32,417.59
↓ 366.71↓ 1.12 %
FTSE100$ 7,291.28↓ 63.29↓ 0.86 %
Nikkei 225$ 30,991.69↑ 389.91↑ 1.27 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 85.54↑ 2.33 ↑ 2.80 %
Crude Oil (Brent)$ 90.48 ↑ 2.55↑ 2.90 %
Gold Spot$ 2,006.37↑ 21.66↑ 1.09 %

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