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 26, 2018

Fresh hike in gas tariff in September likely

Bangladesh Energy Regulatory Commission (BERC) is now at the final stage of its scrutiny after holding public hearings over the tariff hike proposals of state-run gas transmission, marketing and distribution companies in June. The LNG import terminal project was brought to a fast-track route for the implementation on a priority basis, to ease the country’s energy crisis and accelerate economic growth in January 2014. Petrobangla has argued that the blended gas price will be Tk 9.69 per cubic metre (cubic metre) after importing around 500 mmcfd of LNG at US$ 8.5 per cubic metre from the international market. The blended gas price will be Tk 10.91 per cubic metre after importing around 500 million cubic feet per day (mmcfd) of LNG at US$ 10.76 per cm from the international market. Bangladesh received its first LNG cargo on April 24 as the US-based Excelerate Energy Bangladesh Ltd brought in its floating, storage and re-gasification unit (FSRU) carrying 136,009 cubic metres of lean LNG from Qatar’s RasGas. The BERC had earlier raised the natural gas tariff by 22.70 per cent for all types of consumers in phases with effect from March 1, 2017 and June 1, 2017 respectively. Gas distribution companies including Titas Gas Transmission and Distribution Company Ltd (TGTDCL), Bakhrabad Gas Distribution Company Ltd (BGDCL), Jalalabad Gas Transmission and Distribution Company Ltd (JGTDCL), and Karnaphuli Gas Distribution Company Ltd (KGDCL) in their unified proposals sought the average natural gas tariff to be raised to Tk 12.95 per cubic metre from the existing Tk 7.39. They wanted to raise tariff for gas-fired power plants to Tk 10 per cubic metre from the existing Tk 3.16, for fertiliser factories to Tk 12.80 per cubic metre from the existing Tk 2.17. The price of compressed natural gas (CNG) in the filling stations has been proposed to be hiked to Tk 48 per cubic metre from the existing Tk 40. Natural gas tariff as sought by the distributors is Tk 15 per cubic metre in place of the existing Tk 7.76. The tariff as sought is to hit Tk 16 per cubic metre from the existing Tk 9.62. Gas tariff for tea gardens has been proposed to be fixed at Tk 12.80 per cu m from the existing Tk 7.42.

Source: https://thefinancialexpress.com.bd/trade/fresh-hike-in-gas-tariff-in-september-likely-1535254767

BD second largest LDC on importing commercial services

Bangladesh is the second largest importer of the commercial services among the Least Developed Countries (LDCs). It showed that Bangladesh imported commercial services worth $9.01 billion in 2017. The country’s share in world total imports of commercial services stood at 0.18 per cent in the past year while the ratio stood at 13.31 per cent for the total imports of the LDCs. Angola was the largest importer of commercial services among the LDCs. The country imported commercial services worth $13.73 billion in the past year. Commercial services are total services minus ‘government goods and services, not included elsewhere. The major component of the services include transport, travel, other commercial services (i.e. insurance, financial service etc) and goods-related services.

Source: https://thefinancialexpress.com.bd/economy/bangladesh/bd-second-largest-ldc-on-importing-commercial-services-1535176366

Impact of Eid-ul-Azha on economy

The size of the Eid-ul-Azha economy is believed to be around Tk 31,000 crore, of which at least Tk 22,000 crore alone comes from cattle sales, as people are increasingly spending more on the back of their rising purchasing power. About 1 crore cattle were sacrificed during the Eid. Of them, 35 lakh to 40 lakh were cows and buffalos and the rest goats and sheep, Hiresh Ranjan Bhowmik, director general of the department of livestock and fisheries. The size of the Eid-ul-Azha economy was about $5 billion, or more than Tk 40,000 crore. Of the sum, about Tk 25,000 crore were generated by the cattle trade and the remaining Tk 15,000 crore through the sales of commodities, refrigerators, freezers and furniture as well as the spending on transportation and tourism. About 78 lakh cows, buffalos, sheep and goats were sacrificed in 2017. The number would be around 90 lakh this year.

Source: https://www.thedailystar.net/news/business/impact-eid-ul-azha-economy-1624657

Dhaka stocks rally for 4th week on post-Eid expectation

DSEX, the key index of the DSE, advanced 1.89 per cent, or 103.45 points, over the week to finish at 5,571.20 points on Thursday, the last trading session of the week. The core index gained 266 in last four consecutive weeks. The financial sectors led the rally over the week with a surge in share prices of non-bank financial institutions and bank by 5.43 per cent and 4.69 per cent respectively with strong trading. Besides financial sectors, average share prices of miscellaneous, cement and pharmaceutical sectors also gained on the week. On the other hand, average share prices of jute, textile and engineering declined by 1.66 per cent, 1.05 per cent and 0.74 per cent respectively. The daily average turnover on the bourse dropped further to Tk 502.94 crore in the last week from Tk 656.89 crore in the previous week as investors focused on Eid celebration. Out of the 337 traded issues, 151 declined, 157 advanced and 29 issues remained unchanged. DS30, the blue-chip index of the DSE, soared by 1.72 per cent, or 32.89 points, to close at 1,948.16 points over the week. BBS Cables, City Bank, Dhaka Bank, BRAC Bank, United Power Generation Company, National Housing Finance, International Leasing and Finance Services, Mercantile Bank and Premier Bank were the other turnover leaders. MIDAS Financing gained the most in the week with a 20.78 -per cent increase in its share prices, while Aziz Pipes was the worst loser, shedding 17.85 per cent.

Source: http://www.newagebd.net/article/49070/dhaka-stocks-rally-for-4th-week-on-post-eid-expectation

Chinese group awaits BB nod for NITA to send Tk 947cr to B’desh

The Chinese consortium of Shenzhen and Shanghai stock exchanges awaits Bangladesh Bank’s approval for non-resident investors taka account to send money to Bangladesh for buying 25 per cent shares of the Dhaka Stock Exchange to be the bourse’s strategic investor. The consortium was ready to transfer Tk 947 crore to the City Bank of Bangladesh against 45,09,44,125 ordinary shares of the DSE at Tk 21 each in accordance with the share purchasing agreement. The government would exempt the 15 per cent gain tax soon for the interest of the capital market development. A number of DSE officials, however, expressed doubt about the tax waiver and said that each of the shareholders was likely to pay Tk 30 lakh in tax for the sales. Shenzhen Stock Exchange and Shanghai Stock Exchange signed the share purchase agreement after the BSEC on May 3 approved the bourse’s proposal for selling 25 per cent of its shares for Tk 947 crore to the Chinese consortium for making it the strategic investor of the bourse, ending three months of uncertainty over the issue. The Chinese consortium offered technical assistance worth over $37 million to the DSE and the BSEC asked the bourse to evaluate technical and financial offers of the group for the interest of the country’s capital market.

Source: http://www.newagebd.net/article/49010/chinese-group-awaits-bb-nod-for-nita-to-send-tk-947cr-to-bdesh

Shipbuilding thrives on domestic demand

A number of shipyards are working to build more than 100 vessels, which has orders to make 38 vessels, including four for foreign buyers. The sector, with 130 companies, had suffered a blow in the aftermath of the 2008 global financial crisis when a couple of shipbuilders were trying to enter the international market by making smaller vessels. Annual imports totalled 4 crore tonnes three-four years ago and it exceeded 13 crore tonnes this year, Hossain said. This is mainly due to the ongoing works to build large infrastructures, he said, citing the increased demand for transporting boulder, sand, clinker, coal and various other items. As a result, 300 vessels would be required in the next two years and the construction is under way for nearly 100, he added. Apart from the private sector, the government is also making vessels. Rashid’s firm is making 112 dredgers and dredger related vessels.

Source: https://www.thedailystar.net/news/business/shipbuilding-thrives-domestic-demand-1624654

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
Nikkei 22522,601.77↑190.95↑0.85%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$68.72↑0.89↑1.31%
Crude Oil (Brent)$75.82↑1.09↑1.46%
Gold Spot$1,205.36↑19.80↑1.67%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 84.1921
GBP 1BDT 108.1532
EUR 1BDT 97.8481
INR 1BDT 1.2043





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,

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Managing Director & CEO
Dhaka Bank Limited