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 5, 2023

Exports rise slightly in August

Earnings from merchandise shipments in August increased slightly by 3.80 percent to $4.78 billion, mainly riding on apparel exports as all the other major sectors staged a poor performance last month. Three important sectors, including leather and leather goods, jute and jute goods and home textiles, which earned over $1 billion last fiscal year, staged a very poor performance. Although inflation is going down in the major export destinations in Europe and North American countries, including the US, bank interest rates are still high. The shipment of goods like apparel, footwear and other fashion items will not be robust this year too ahead of Christmas, as consumers are still passing a hard time for the bank interest rates. For instance, China’s exports fell for the third month in a row in July, plunging by 14.5 percent year-on-year in dollar terms. This was the biggest drop since February 2020, when the pandemic began, The Telegraph reported last month. Earnings from merchandise shipments in August last year stood at $4.60 billion, according to data from the state-owned export promotion agency of Bangladesh. In the July-August period, the export grew by 9.12 percent year-on-year to $9.37 billion.

Source: https://www.thedailystar.net/business/economy/news/exports-rise-slightly-august-3411181

Bank interest rate spread hits 40-month high

The interest rate spread – the difference between deposit and lending rates – hit a 40-month high of 3.29% last July when the monetary policy was unveiled for the second half of the year, creating a scope for banks to increase their lending rates by more than 1%. Bankers expressed their satisfaction, saying that a spread of at least 3% is required for a bank to cover its running costs comfortably. According to data from the Bangladesh Bank, banks received deposits at an average interest rate of 4.46% in July and lent the funds at 7.75% interest. A higher spread of 4.07% was recorded in March 2020, when the interest rates on deposits and lending were 5.51% and 9.58%, respectively.

Source: https://www.tbsnews.net/economy/banking/bank-interest-rate-spread-hits-40-month-high-694826

 Mr. Shamim Ahmed re-elected as BPGMEA president

Shamim Ahmed has been re-elected as the president of the Bangladesh Plastic Goods Manufacturers & Exporters Association (BPGMEA) for a one-year term (2023-2024). BPGMEA election board chairman Abdur Razzaque, accompanied by other members of election board Hafez Harun or Rashid and Abul Khair, announced the results after the election was held at the association’s head office in Paltan yesterday. As per the order of the ministry of commerce, seven new directors were elected to the seven vacant posts of the board of directors of the BPGMEA on September 2.

Source: https://www.thedailystar.net/business/economy/news/shamim-re-elected-bpgmea-president-3411086

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 34,837.71
↑ 115.80↑ 0.33 %
FTSE100$ 7,452.76↓ 11.78↓ 0.16 %
Nikkei 225$ 32,910.68↓ 28.50↓ 0.09 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 85.96 ↑ 0.41↑ 0.48 %
Crude Oil (Brent)$ 88.97 ↓ 0.03↓ 0.03 %
Gold Spot$ 1,937.87↓ 4.82 ↓ 0.25 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 109.5000
BDT 109.5000

*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