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 September 14, 2023

RMG exports to US up by 2.95% this July-August compared to last year: EPB report

Bangladesh’s apparel exports to the United States (US) went up 2.95% in July-August of the current fiscal year compared to the same period of the previous fiscal year, according to statistics released by the Export Promotion Bureau (EPB). During the period, the RMG exports to the US increased from $1.42 billion to $1.46 billion, Bangladesh Garment Manufacturers and Exporters Association Director Mohiuddin Rubel said citing the EPB data. Apparel exports to the EU increased by 11.81% from $3.44 billion to $3.85 billion compared to the same period last fiscal. Exports to some major EU markets such as Spain, France, Italy, Netherlands and Poland also increased by 26.94%, 8.45%, 28.73%, 18.95% and 26.37% respectively. However, exports to Germany, Bangladesh’s second-largest export destination, declined by 6.29% year-on-year to $994 million. During the July-August period of FY 2023-24, exports to the UK and Canada reached $976.75 million and $243.44 million, and both markets grew by 19.14% and 7.22%, respectively. At the same time, Bangladesh’s garment exports to non-traditional markets increased by 21.94% to $1.47 billion. Among major non-traditional markets, exports to Japan, Australia and South Korea increased by 33.97%, 49.52% and 19.51% respectively.

Source: https://www.tbsnews.net/economy/rmg/rmg-exports-us-295-july-august-compared-last-year-epb-report-699698

A sudden surge in orders to test RMG, textile sectors’ capacity

Bangladesh might be the second-largest apparel supplier in the world, but its current installed capacity will not be adequate to meet demand if orders surge significantly as buyers shift away from countries such as China and Vietnam. On the back of the existing capacity, the country exported garment items worth $46.99 billion in the last fiscal year, registering a 10.27 percent year-on-year growth, according to data from the Export Promotion Bureau. China sold apparel items worth $182 billion globally and Vietnam shipped products amounting to $35 billion in 2022.

Source: https://www.thedailystar.net/business/economy/news/sudden-surge-orders-test-rmg-textile-sectors-capacity-3418311

Cabinet body approves wheat import from Russia

The government has approved import of 0.3 million tonnes of wheat from Russia under government-to-government arrangement at a total cost of Tk 10.32 billion or Tk 33.43 per kilogram. The Directorate of Food will import the cereal as approved by the Cabinet Committee on Government Purchase at its meeting held virtually on Wednesday, with finance minister AHM Mustafa Kamal in the chair. Bangladesh has taken the import decision days after the visit of Russian Foreign Minister Sergey Lavrov to Bangladesh when he expressed the interest to export the commodity, among other items. Bangladesh has been facing complications over sending and receiving import and export proceeds to and from Russia following the start of Russia-Ukraine war in February last year, and the subsequent western sanctions on transactions with most of the Russian banks.

Source: https://today.thefinancialexpress.com.bd/trade-market/cabinet-body-approves-wheat-import-from-russia-1694626220

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 34,575.53
↓ 70.46↓ 0.20 %
FTSE100$ 7,525.99↓ 1.54↓ 0.02 %
Nikkei 225$ 33,099.47↓ 392.95↓ 1.20 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 88.95 ↑ 0.43 ↑ 0.49 %
Crude Oil (Brent)$ 92.30 ↑ 0.42↑ 0.46 %
Gold Spot$ 1,909.51↑ 1.39↑ 0.07 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 110.0000
BDT 110.0000

*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.

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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.

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Best regards,

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Dhaka Bank Limited