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

Important Business News Extracts Aug 22, 2019

Leather Goods Exports rebound

Export of leather and leather goods from Bangladesh rebounded strongly after more than two years thanks to higher shipments to non-traditional markets and the US-China trade war. Shipments in July amounted to $106.10 million, a 16.39 percent year-on-year growth, data of the Export Promotion Bureau (EPB) showed. This is the only sector after garments which fetched $1 billion last fiscal year. It, however, had registered negative growth over the past two years or so because of a gradual shift of tanneries from Hazaribagh to a newly built Savar Tannery Industrial Estate. Of the 155 tanneries that have relocated so far, 123 have gone into full or partial operation and the rest are in the process, according to tanners. Tanners are the main suppliers of raw materials to manufacturers and exporters of leather goods like shoes and bags. Value addition has recently increased a lot. The performance has been very strong not only in traditional markets like that of the US, the European Union and Canada but also in non-traditional ones like that of Australia, Japan and Singapore.

Source: https://www.thedailystar.net/business/news/leather-goods-exports-rebound-1788844

DSE Turnover up 15pc backed by Nine Stocks

Turnover at Dhaka bourse jumped 14.72 percent yesterday riding on the price rise of nine companies which accounted for around 37.26 percent of the total amount changed hands. Some Tk 202.17 crore of the day’s turnover of Tk 542.55 crore, up from Tk 472.94 crore on Tuesday, came from the nine. They are United Power Generation, Orion Infusion, Fortune Shoes, JMI Syringes and Medical Devices, Bangladesh Shipping Corporation, Monno Ceramic Industries, Beacon Pharmaceuticals, Khulna Power Company and Silco Pharmaceuticals. Industry experts attributed the rise to the stocks of United Power, which attracted Tk 67.83 crore, almost four times higher than their regular turnover. The DSE’s benchmark index, the DSEX, declined 4.08 points or 0.07 percent to close at 5,223.41. Among the major sectors, fuel and power increased 0.67 percent and textile 0.33 percent while general insurance fell 0.37 percent, pharmaceuticals 0.3 percent, and banks 0.28 percent.

Source: https://www.thedailystar.net/business/news/dse-turnover-15pc-backed-nine-stocks-1788841

Govt to import $819.3m Petroleum Product

The Government will import 14.35 lac tonnes of petroleum product worth $819.30 million during July to December this year under a Government-to-Government arrangement. The cabinet committee on purchase approved a proposal of Bangladesh Petroleum Corporation (BPC) in this regard at a meeting with Agriculture Minister. According to the BPC proposal, the petroleum will be imported from Malaysia, Thailand, Indonesia, the United Arab Emirates, Kuwait and China. The premium, which is the cost of shipping and includes freight charges and insurance, for importing diesel will be $2.95 per barrel, Jet fuel-1 $3.95, petrol $4.90 and furnace oil $28.25 per tonne.

Source: https://www.thedailystar.net/business/news/Govt-import-8193m-petroleum-product-1788835

India for fast-track Project implementation

India has asked Bangladesh to complete all official procedures of the Projects under its second and third lines of credit with the view to speeding up implementation. The High Commission of India in Bangladesh has recently written to the Economic Relations Division (ERD) in this regard. Bangladesh’s Foreign Minister AK Abdul Momen recently told that Dhaka also wants speedy disbursement of Indian LoCs as the Projects under the funding are facing delays mainly due to technical and bureaucratic reasons. In the last eight years, Bangladesh managed to use $523.60 million of the first LoC worth $862 million despite various steps to expedite utilization of funds. Dhaka has so far used $15.60 million of the $2-billion second LoC. India is yet to disburse any money from the $4.5-billion third LoC. The letter of the High Commission called for a faster processing of the bills for the ongoing Projects. Bangladesh is using a method in the Projects funded by other development partners, where the bills go directly from the Project director to funding agencies. For such cases, the bills may be sent directly to Exim Bank of India. The issue was raised with Indian External Affairs Minister S Jaishankar in Dhaka.

Source: https://www.thedailystar.net/business/news/india-calls-fast-tracking-project-implementation-1788838

BB seeks Govt fund for remittance incentives

Bangladesh Bank has requested the Government to release fund for providing cash incentive against the inward remittance. The Government in the budget for the fiscal year of 2019-2020 announced that 2 per cent cash incentive would be provided to the beneficiaries of inward remittance. A senior BB official said the central bank had recently sent a letter to the finance ministry seeking fund for the purpose. Banks would start disbursing incentive against remittance after getting fund allocation from the central bank. The Government in the budget allocated Tk 3,060 crore for the purpose in an expectation that the incentive would significantly increase the remittance flow through the legal channels and discourage the illegal channels like ‘hundi’ business.

Source: https://www.newagebd.net/article/82125/bangladesh-bank-seeks-release-of-govt-fund-for-incentive-for-remittance

Grameenphone gets new CFO

Grameenphone has appointed Jens Becker as its new Chief Financial Officer (CFO), effective from August 15. He is replacing Karl Erik Broten, the telecom company said in a statement yesterday. Prior to the appointment, Becker had been serving as CFO of T-Mobile in Poland. He was also the CFO at T-Online International AG. Becker has over 20 years of experience in Deutsche Telekom Group with leadership positions in Germany and Poland and responsibility for controlling T-Online’s subsidiaries in France and Spain.


Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
FTSE100 7,203.97 ↑78.97 ↑1.11%
Nikkei 225 20,647.87 ↑29.30↑0.14%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 55.71 ↑0.03 ↑0.05%
Crude Oil (Brent) $ 60.25 ↓0.05↓0.08%
Gold Spot $ 1,501.75 ↓0.90↓0.06%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 82.8164
GBP 1BDT 100.537
EUR 1BDT 91.8829
INR 1BDT 1.15751





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