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 August 12, 2018

Stocks barely gain for 2nd week riding on banking sector

DSEX, the key index of Dhaka Stock Exchange, added 0.13 per cent or 7.21 points over the week to finish at 5,407.01 points on Thursday, the last trading session of the week after gaining 94.62 points in the previous week. Beside bank, average share prices of textile, food and energy sectors gained 6 per cent, 0.8 per cent and 0.3 per cent respectively. On the other hand, share prices of Grameenphone hit more than a year low after losing 7 per cent in the past week with the media reports that the Bangladesh Telecommunication Regulatory Commission would ask GP to pay the government Tk 11,530 crore in dues as an audit found the company did not pay the amount over the years. Average share prices of telecommunication, cement, non-bank financial institutions and pharmaceuticals dropped by 3.4 per cent, 2.2 per cent, 1.6 per cent and 0.3 per cent respectively. Before the two weeks’ gain, the DSEX lost 136 points in the five consecutive weeks amid concern on the financial market. The daily average turnover of the bourse increased little to Tk 687.48 crore in the past week from Tk 685.80 crore in the previous week. DS30, the blue chip index of the DSE, however, lost 0.31 per cent, or 5.90 points, to close at 1,893.34 points over the week. Shariah index DSES, shed 1.29 per cent, or 16.24 points, to close at 1,245.86 points. BBS Cables led the turnover chart with its shares worth Tk 164.33 crore changing hands. AB Bank, United Power Generation Company, Saiham Textile Mills, Simtex Industries, Dragon Sweater, Legacy Footwear, Paramount Textile, Far Chemical Industries and Monno Ceramics were the other turnover leaders.

Source: http://www.newagebd.net/article/48196/stocks-barely-gain-for-2nd-week-riding-on-banking-sector

BIFC re-elects chairmen of board, EC, audit committee

The board of directors of Bangladesh Industrial Finance Company Limited (BIFC) at its recent meeting re-elected Ruhul Amin as chairman of the board. Professor Neaz Ahmed and Professor Jawadur Rahim Zahid were re-elected as chairmen of executive committee (EC) and audit committee respectively, according to a statement. Mr. Ruhul Amin, who represents Sukuza Venture Limited, is an FCMA from the Institute of Cost & Management Accountants of Bangladesh (ICMAB) and an MBA from IBA, University of Dhaka. Professor Neaz, Director, representing Kanchi Venture Limited, obtained his graduation with honours in Economics from the University of Dhaka, MBA from IBA, and MBA in Finance from the University of New Brunswick, Canada under a CIDA Fellowship. He started his career in Sonali Bank in 1976, and then worked in BSRS (now Bangladesh Development Bank Ltd), Rural Electrification Board (REB) as Deputy Director Finance. Later on he worked as Vice-President in the Bengal Group. In 1987, he joined IBA as a faculty member. Professor Jawadur Rahim Zahid, Independent Director, is an MBA from IBA, the University of Dhaka and Ph D from Manchester Business School, UK. Dr. Zahid is at present a Professor of Finance at IBA and has been teaching there for twenty seven years. He passed from Bangladesh Marin Academy and obtained Certificate of Competency for 2nd Navigating Officer from Cork Regional Technical College, Ireland.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/bifc-re-elects-chairmen-of-board-ec-audit-committee-1534003583

Bangladesh to import 9,000 megawatts from Nepal

State minister for Power, Energy and Mineral Resources Nasrul Hamid today said Bangladesh has a plan to import 9,000 megawatts electricity from Nepal to mitigate the increasing demand of electricity by 2040. Bangladesh is now importing 660 megawatts electricity from India, said the state minister, adding that import process of 500 mega watts electricity from the neighbouring country has also nearly been finalised. State minister for Power, Energy and Mineral Resources Nasrul Hamid signed the MoU on behalf of Bangladesh while his Nepalese ounterpart Energy, Water Resources and Irrigation Affairs minister Barshaman Pun Ananta signed it on behalf of Nepal. Nasrul Hamid also invited the Nepalese delegation team including the Nepalese Energy, Water Resource and Irrigation Affairs minister to visit Bangladesh for joining the ‘Power and Energy Week’-2018 which will be observed from September 6-8.

Source: http://www.newagebd.net/article/48107/bangladesh-to-import-9000-megawatts-from-nepal-nasrul

Month-long CWCCI SME Expo in Ctg from Oct 15

The Chittagong Women Chamber of Commerce and Industry (CWCCI) will organise a month-long SME Expo from October 15 in the port city. The objective of the exhibition is to explore new SME products market in the global arena, strengthen bondage between the consumers and producers, and enhance export earnings from the sector. The 12th International Women’s SME Expo will be organised at Railway Stadium Polo Ground in cooperation with Export Promotion Bureau, FBCCI, SME Foundation and Jute Diversification Promotion Centre this year. The month-long fair will have as many as 350 stalls and 15 pavilions through which the local women enterprises will display their products from the small and medium enterprise sector. Mrs Munal said the womenfolk of the country were lagging behind in manufacturing and business sectors as well as in education for a long time in the past but they are now building their fortune and contributing a lot to the national economy. She said that the government has been extending its full support to the SME sector in different ways. If the government continues providing bank loans for expanding business, training and marketing their products, the women entrepreneurs will be able to bring about revolutionary changes in the national economy.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/month-long-cwcci-sme-expo-in-ctg-from-oct-15-1534003451

Protect every data to fight cyber crime

Bangladeshi companies should establish proper security shields to protect their official data from cyber attacks, cyber security and audit experts said yesterday. Every organisation should think about security of their data before awarding the audit work to a chartered accountancy firm, said Luna Shamsuddoha, chairman of Janata Bank. Official data should be protected and archived to avoid cyber threats and loss of data,” said Luna, also president of the Bangladesh Women in Technology. She spoke in a workshop titled “Cyber security for personal and professional safety” organised by the Institute of Chartered Accountants of Bangladesh (ICAB) and Bangladesh Open Source Network (BdOSN) at the CA Bhaban in Dhaka. People should be more careful while using technology, otherwise they could fall victim to cybercrimes at any time, he said. Currently 80 million people are using internet in Bangladesh, so cyber threats may become pervasive just because of a lack of capacity in handling such threats. It is a must to create mass awareness on cyber crimes, said Sayed Nasirullah, assistant commissioner of the cyber security and crime division of Dhaka Metropolitan Police. More programme should be organised to create awareness on cyber crimes among people, especially women, said Parveen Mahmud, former president of the ICAB.

Source: https://www.thedailystar.net/news/business/protect-every-data-fight-cyber-crime-1619470

DSE News in Brief (12-08-2018)

Phoenix Finance and Investments Ltd.: Mr. Mobarak Ali, one of the directors of the company, has further reported that he has completed his sale of 10,00,000 shares of the company at prevailing market price through stock exchanges as announced earlier. Delta Life Insurance Company Ltd.: Dr. Sadiqur Rahman Malik, one of the sponsors of the company, has further reported that he has completed his sale of 1,99,900 shares of the company at prevailing market price through stock exchanges as announced earlier. Social Islami Bank Limited: Mr. Kamaluddin Ahmed, one of the sponsors of the company, has further reported that he has completed his sale of 5,00,000 shares of the company at prevailing market price through stock exchanges as announced earlier. Standard Bank Limited: Mr. Harun-Or-Rashid, one of the sponsors of the company, has further reported that he has completed his sale of 7,60,000 shares of the company at prevailing market price through stock exchange as announced earlier.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/dse-news-in-brief-12-8-2018-1534003629

Earnings of listed financial cos mostly slip in Jan-Jun

The earnings of the listed financial companies mostly declined in the first half (January-June) of the current calendar year compared with that in the same period of the previous year. Out of the 30 listed banks, the earnings per share of 15 declined and that of the rest 15 increased, while out of the 23 non-bank financial institutions, the EPS of 18 dropped and that of the rest five rose in the first half of 2018 compared with that in the same period of 2017. The key index of Dhaka Stock Exchange, DSEX, plunged by 839 points, or 13 per cent, in the first six months of the year. Earnings per share of ONE Bank, Standard Bank, Exim Bank, Al-Arafah Islami Bank and AB Bank declined by more than 50 per cent in the period. Besides, Trust Bank, First Security Islami Bank, Rupali Bank, Uttara Bank, IFIC Bank, City Bank, Eastern Bank, UCB and Prime Bank saw their EPS decline while ICB Islami Bank posted further loss in January-June of 2018, according to the DSE web site data. The banks that saw their EPS increase in the first half of this year are Mutual Trust Bank, Pubali Bank, Bank Asia, Southeast Bank, Jamuna Bank, National Bank, NCC Bank, Dutch-Bangla Bank, Social Islami Bank, BRAC Bank, Premier Bank, Islami Bank, Shahjalal Islami Bank, Dhaka Bank and Mercantile Bank.

Source: http://www.newagebd.net/article/48108/earnings-of-listed-financial-cos-mostly-slip-in-jan-jun

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
Nikkei 22522,298.08↓300.31↓1.33%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$67.63↑0.82↑1.23%
Crude Oil (Brent)$72.81↑0.74↑1.03%
Gold Spot$1,210.57↓1.90↓0.16%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 83.8050
GBP 1BDT 106.9184
EUR 1BDT 95.6466
INR 1BDT 1.2175





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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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,

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Managing Director & CEO
Dhaka Bank Limited