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 19, 2021

BB-BSEC row reins in stocks’ growth spurts

The stock market’s recent growth spurt slowed last week as the tension between the central bank and the stock market regulator over some policy issues has rattled investors. When the DSEX, the benchmark index of the Dhaka Stock Exchange, surged past 7,000 points for the first time, investors and analysts were already talking about whether the index was set to climb further as earnings of the companies improved and the concerns about the impacts of the coronavirus pandemic waned.The DSEX, however, closed at 7,228 points on Thursday, down from 7,258 on the first day of the week. Daily average turnover also dropped by 20 per cent to Tk 2,224 crore in the week.The BSEC passed a rule in June that the stabilisation fund would be formed using the undistributed and unclaimed dividends of the listed companies. The aim is to use the fund, involving around Tk 21,000 crore, to safeguard the interest of the market and investors.Recently, the BSEC asked the Investment Corporation of Bangladesh, Berger Paints Bangladesh, and Walton Hi-tech Industries to offload at least 10 per cent of their shares. Walton issued 0.97 per cent of shares, ICB 3.19 per cent, and Berger 5 per cent. The BB has been mopping up excess liquidity from the banking system to stop the asset bubble since it unveiled the monetary policy in July. In August, it withdrew Tk 19,645 crore from the market. Earlier, investors were allowed to borrow Tk 80 against an investment of Tk 100 if the benchmark index was lower than 7,000 points.

Source: https://www.thedailystar.net/business/economy/stock/news/bb-bsec-row-reins-stocks-growth-spurts-2179141

 RMG exports overwhelm Dhaka airport

Hazrat Shahjalal International Airport (HSIA) is struggling to handle the mounting pressure of container cargos as buyers of international apparel brands are now keen to take their goods by air to avoid congestion at transshipment ports with growing demand at their home markets. The airport is now handling 1.5 times more cargo than its capacity. Still, the huge number of containers is overwhelming the airport capacity. Freight forwarders said 85% of the goods that Dhaka airport handles are readymade garments.  However, freight forwarder leaders are saying the Dhaka airport has lost its handling capacity due to the absence of scheduled flights, failure in the explosive detection system (EDS) and ongoing construction work of the third terminal.Apparel exporters have alleged that due to airline shortage their cargo trucks have to wait three to five days outside the cargo village. At that time traffic police file cases against their vehicles. On the other hand air freight cost has also increased 60% to 100% depending on the destinations.Bangladesh earned $3.38 billion, riding on apparel shipments, in the second month of FY22, which was $2.97 billion in the August of the last financial year. UK retail sales maintained their negative trajectory in August from the month prior, due to Supply chain disruption of Apparel items. However, sales volumes are edging up 0.7%.

Source: https://www.tbsnews.net/dropped/trade/rmg-exports-overwhelm-dhaka-airport-304381

NRBC Bank awarded as the best bank in ‘Primary Dealer’ category

Bangladesh Bank issued a letter on Thursday where NRBC Bank was named as the best Primary Dealer (PD) of Bangladesh for its outstanding performance during the last quarter(October-December) and the central bank paid Tk. 5,35,420 as underwriting commission to NRBC Bank.It is to be mentioned that, a primary dealer is a bank or financial institution that is approved to trade national securities treasury bill and bond. Government collects money by selling Treasury Bills(T-Bills) and Bangladesh Government Treasury Bonds(BGTBs) those are issued through auctions. Only Primary Dealers (PD) can submit bids in these auctions where the Central Bank acts as the government representative. Out of 61 banks, only 20 banks are working as primary dealer (PD) presently. The name of the organization of primary dealers is ‘Primary Dealers Bangladesh Limited (PDBL).It is worth mentioning that, NRBC Bank is serving people all over the country through its wide network of 83 branches and 530 sub branches including BRTA, Land registration fees collection booths. Our Bank is also operating 595 agent points all over the country to serve people.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/nrbc-bank-awarded-as-the-best-bank-in-primary-dealer-category-1631981028


BSEC asks issuers to expedite listing of perpetual bonds

The securities regulator has asked issuers to accelerate listing process of perpetual bonds on bourses as part of the regulatory move to diversify the country’s bond market. The Bangladesh Securities and Exchange Commission (BSEC) made the instruction in a meeting held last week at the BSEC office.The representative of Dhaka Stock Exchange (DSE), top officials of 11 banks and trustees of perpetual bonds attended the meeting held to discuss the latest situation of such bonds so far approved by the BSEC.Of the banks, The City Bank will issue perpetual bond worth Tk 4.0 billion, Mutual Trust Bank Tk 4.0 billion, One Bank 4.0 billion, First Security Islami Bank Tk 6.0 billion, Trust Bank Tk 4.0 billion, Social Islami Bank Tk 5.0 billion, Jamuna Bank Tk 4.0 billion, ShahjalalIslami Bank Tk 5.0 billion, Islami Bank Tk 8.0 billion, EXIM Bank Tk 6.0 billion and Southeast Bank Tk 5.0 billion.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/bsec-asks-issuers-to-expedite-listing-of-perpetual-bonds-1631980904

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 34,584.88
FTSE100$ 6,963.64↓63.84↓0.91%
Nikkei 225$ 30,500.05↑176.71↑0.58%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 71.97↓0.64↓0.88%
Crude Oil (Brent)$ 75.34↓0.33↓0.44%
Gold Spot$ 1,754.34↑0.57↑0.03%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 85.2195
GBP 1BDT 117.9945
EUR 1BDT 100.7570





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