Dhaka Bank wins ‘The Banker Award-2018’
Dhaka Bank Limited has been accredited as ‘Bank of the Year-2018 in Bangladesh’ for banking excellence from THE BANKER. THE BANKER’s’ Bank of the Year’ Awards are regarded as the OSCARS of the Banking Industry. For the last 92 years, THE BANKER has been the world’s leading monthly international financial affairs magazine owned by The Financial Times Ltd, UK, said a statement. Syed Mahbubur Rahman, Managing Director & CEO of Dhaka Bank Limited received the ‘Bank of the Year-2018’ award from THE BANKER in a grand ceremony at Sheraton Grand London Park Lane, London. This year Bank of the Year-2018 awards ceremony was hosted by Fiona Bruceat Sheraton Grand London Park Lane, London. The Banker Awards Ceremony was attended by more than 350 Bank Chairpersons, CEO’s, CFO’s and other senior managers from over 120 countries. During the ceremony award winning crest was handed over to Mr. Syed Mahbubur Rahman, Managing Director & CEO of Dhaka Bank Limited. The recognition of being named as Bank of the Year in Bangladesh by the world’s longest running international banking title is testament to the strong management, sound business model, banking innovations and prudent risk approach of Dhaka Bank Limited.
Exports to India thru’ Benapole soar 65pc
Goods export to India through Benapole land port increased around 65 percent year-on-year to Tk 4,040.35 crore in 10 months to October this year thanks to infrastructure upgrades. Export volume also rose, by 40 percent year-on-year, to 322,000 tonnes during the period. Benapole Customs Commissioner Belal Hossain Chowdhury has attributed the growth to the opening of a dedicated bypass road connecting Benapole and Petrapole for faster transport of export goods and introduction of digital tax processes. Raw materials imported for making goods for renowned brands are now being examined in a day at the port, he said. The products shipped to India mainly include apparel items, leftover garments, rice powder, fish, Mahogany wood, mosquito net materials, jute, thread made from jute goods, jute bags, plastic bottles, ceramics and food items. Export of shirts, t-shirts, jeans and trousers for different luxury brands, including Zara, FHM and Raymond, has also started through the port recently; earlier those were sent through air shipment.
Auto parts market swells on rising demand
The automotive component market in Bangladesh has more than doubled in a space of a decade driven by rising car users, said industry people. Importers bring in engine, alternator, radiator, air conditioner, suspension, brake pads, spoiler, rim, tyre, trim package, body components, among other spare parts needed to serve the booming automotive market. The market size of automotive components was about Tk 1,300 crore to Tk 1,400 crore last year with an annual growth rate of 10 to 12 percent in the last one decade. The market size was not more than Tk 500 crore 10 years age. At least 200 traders import auto spare parts and most of them have workshops. More than 2,500 traders are involved in the component business.
Apparel sector leaders pay tribute to Annisul Huq
Leaders of the country’s apparel industry paid tribute on Sunday to late mayor Annisul Huq and recalled his great contributions to society and the business arena. Annisul Huq, the mayor of Dhaka North City Corporation (DNCC) who also served as president of the country’ apex trade body FBCCI, the BGMEA and the SAARC Chamber of Commerce and Industry, was a successful organiser, a good human being and active social worker, they said. They made the remarks at a meeting in memory of Annisul Huq, organised by the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) at its complex in the city. Terming him a humble and gentle leader, BGMEA president Md Siddiqur Rahman said Annisul Huq became successful in all fields — from business to politics — due to his strong leadership.
City Bank wins best digital bank award
City Bank has been named the ‘Best Consumer Digital Bank in Bangladesh 2018’ by Global Finance. This is for the fourth time, the bank recently received such accolade from this North America based top financial publication known for recognising fintech innovations worldwide. City Bank’s robust, state-of-the-art digital banking platform, Citytouch, has been very popular among its customers. As Bangladesh has been observing constantly increasing mobile penetration for a while now, a platform like ‘Citytouch’, which is designed to bring together all the conveniences of banking to the internet-enabled devices, is more relevant than ever before and this award is recognising this achievement.
LafargeHolcim will merge with Holcim Cement
LafargeHolcim Bangladesh Limited (LHBL) will merge with Holcim Cement (Bangladesh) Limited (HBL), a 100 per cent subsidiary of the former. The HBL will merge with the company (LHBL), and the company shall be the surviving entity. The share price of the LHBL closed at Tk 41.50 each on Sunday with a marginal rise of 2.22 per cent or Tk 0.90 on the Dhaka Stock Exchange (DSE). The company (LHBL) will provide updates to the regulatory authorities and shareholders, as and when required, in conformity with applicable laws. The LHBL, presently, an ‘A’ category company, was listed on the stock exchanges in 2003. The company’s sponsor-directors hold 64.68 per cent shares, institutes 16.02 per cent, foreign shareholders 1.03 per cent and general public 18.27 per cent as of October 31, 2018.
Shakhawat Hossain receiving the National Export Trophy
Managing Director of Paramount Textile Shakhawat Hossain receiving the National Export Trophy for the year 2015-2016 from Prime Minister Sheikh Hasina at a programme organised jointly by the commerce ministry and EPB in the city on Sunday.
Local and Global Stock Indices *
|Index Name||Close Value||Value Change||Percentage Change|
World Commodities *
|Commodity||Close Value||Value Change||Percentage Change|
|Crude Oil (WTI)||$ 53.71||↑2.78||↑5.46%|
|Crude Oil (Brent)||$ 62.45||↑2.99||↑5.03%|
|Gold Spot||$ 1,225.60||↑5.08||↑0.42%|
Major Currencies Exchange Rates Movement in Last Seven Days *
|USD 1||BDT 85.1535|
|GBP 1||BDT 108.8006|
|EUR 1||BDT 96.6663|
|INR 1||BDT 1.2163|
*CURRENCIES AND COMMODITIES ARE TAKEN FROM BLOOMBERG.