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 December 23, 2018

Govt to approve compliance protocol for readymade garment factories

The government has taken a move to approve a compliance protocol namely ‘escalation protocol’ to bring the readymade garment factories, which are not responding to the remediation process, under regulation. Earlier, International Labour Organisation drafted an escalation protocol for the factories assessed under national initiative and all the parties including the government and RMG factory owners agreed to it in principle but factory owners were dilly-dallying in complying with the protocol. At a government-ILO workshop on RCC (remediation coordination cell) governance and future of industrial safety unit, held in August this year, the ILO placed the draft of escalation protocol and we agreed in principle to adopt it. Now the labour ministry has decided to approve the protocol to ensure a time-bound remediation plan in the RMG factories. Out of the 219 units, 134 are registered with BGMEA, 74 with BKMEA and 11 units are members of both the trade-bodies. After one and a half month of the request of DIFE, the BGMEA on November 4 refuted to stop issuance of utility declaration for 131 member factories for non-compliance saying that it would not be appropriate to stop issuance of UD before January 2019 as there were some export orders in the factories. Out of the 3,780 garment factories, 1,549 were inspected under the national initiative. Of them, 531 were closed, 69 relocated and 193 transferred to Accord and Alliance lists. The factories that fell under the national initiative completed 32 per cent of remediation works, while 11 factories fixed 100 per cent safety faults

Source: http://www.newagebd.net/article/59581/govt-to-approve-compliance-protocol

Dhaka stocks gain slightly on bargain hunting purchase

Dhaka stocks gained marginally in the past week amid lackluster trading as a section of investors went for bargain hunting purchase while others remained cautious on rising political violence ahead of the national elections. There are only five trading days left before the polls and the financial sector has been directed to close the financial year on December 27. DSEX, the key index of Dhaka Stock Exchange, gained 0.27 per cent, or 14.30 points, to close at 5,265.32 points on Thursday, the last trading session of the week after losing 81.79 point in the previous week. The daily average turnover on the bourse plunged further to Tk 377.36 crore in last week from Tk 511.00 crore in the previous week. Average share prices of cement, textile, pharmaceuticals and non-bank financial institutions dropped by 1.7 per cent, 0.6 per cent, 0.3 per cent and 0.2 per cent respectively. Out of the 346 traded issues, 176 advanced, 135 declined and 35 remained unchanged. DS30, the blue-chip index of DSE, however shed 0.09 per cent or 1.67 points, over the week to close at 1,842.11 points. Shariah index DSES also gained 0.21 per cent or 2.59 points, to close at 1,209.38 points. United Power Generation Company led the turnover chart with its shares worth Tk 50.90 crore changing hands in the week. Daffodil Computers gained the most in the week with a 21.90-per cent increase in its share prices, while Legacy Footwear was the worst loser, shedding 9.73 per cent.

Source: http://www.newagebd.net/article/59580/dhaka-stocks-gain-slightly-on-bargain-hunting-purchase

NBR may ask Google, FB, other companies to set up offices in Bangladesh

National Board of Revenue may ask global digital platforms like YouTube, Google and Facebook having earnings from Bangladesh to set up their offices in the country. NBR is planning to take such a decision to ensure collection of taxes on income of the global technology giants derived from advertisements given by Bangladeshi individuals and companies. Currently, the government hardly gets any taxes, mainly value-added tax and income tax, on the income of the organisations as they don’t have offices in Bangladesh. A committee, formed as per the instruction of High Court, has also decided to collect detail information on expenditure of mobile operators and other firms which give digital advertisements with the global technology giants. A letter will be sent to BTRC seeking the information of mobile operators and other BTRC licence holders. Representatives of Bangladesh Financial Intelligence Unit and BTRC will be included in the committee to examine money laundering and technological issues.

Source: http://www.newagebd.net/article/59585/nbr-may-ask-google-fb-other-cos-to-set-up-offices-in-bdesh

DSE to hold election for a director January 24

An election for the post of a shareholder-director of Dhaka Stock Exchange (DSE) will be held on January 24, as a director will retire this year in line with the demutualisation scheme. As per the election schedule, the final voter list will be published on the DSE website on 31 December, while nomination papers could be collected from December 27, 2018 to January 01, 2019 with a cost of Tk 25,000 and should be submitted within January 02. Candidates of the premier bourse will be allowed to withdraw candidature till January 13 and the election commission will publish the final list of candidates on the same day. The DSE election will be held at 10:30am to 3:30pm without any break at the ground floor of Dhaka Stock Exchange building at Motijheel in Dhaka. Prior to demutualisation, Bangladesh’s stock exchanges were non-profit cooperative organisations, owned by the exchange members, who were usually stockbrokers.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/dse-to-hold-election-for-a-director-january-24-1545494397

Biman looks to open five routes next summer

The Biman Bangladesh Airlines authority is expecting to add in its network five more international stations in the summer schedule of 2019 which starts from March 28 and continues till October. Biman is scheduled to get four more aircraft – two Boeing 737 under lease agreement by the second week of January next year and two Boeing 787 Dreamliners in September next year – to make a total of 17 aircraft in the fleet. Biman has been increasing its network as well as the aircraft in its fleet. They want to open five international routes in 2019 as we’ll receive four aircraft in the same year. The trade relation between Bangladesh and Sri Lanka has been increasing gradually. Besides, many Sri Lankans are working in the hotels, garment factories, buying houses and shipping industries in Bangladesh. Many Sri Lankan students have been studying in the medical colleges here too. The Biman authority expects to open the Toronto, Sydney and Manchester routes after receiving the two Boeing 787 Dreamliners next year. Moreover, it expressed the hope to open the Dhaka-New York flight upon achieving the category-1 status.

Source: http://today.thefinancialexpress.com.bd/trade-market/biman-looks-to-open-five-routes-next-summer-1545492871

ICMAB holds CPD programme

The Institute of Cost and Management Accountants of Bangladesh (ICMAB) organised a Continuing Professional Development (CPD) programme, titled ‘Bond Management: Overview, Role, Prospects & Challenges’ in the capital recently. Director of Bangladesh Garment Manufacturers & Exporters Association (BGMEA) Md. Munir Hossain was present as the special guest at the programme, held at ICMAB’s Ruhul Quddus Auditorium.

Source: http://today.thefinancialexpress.com.bd/trade-market/icmab-holds-cpd-programme-1545493188

RFL approves 23pc cash dividend

Rangpur Foundry Ltd (RFL) approved 23 per cent cash dividend for shareholders for the year 2017-2018 at the 38th Annual General Meeting (AGM) of the company held at Fuzi Trade Centre at Badda in the city on Saturday. Shareholders thanked the management for company’s achievements over the years and made valuable suggestions for improvement in running the business. They reiterated their profound confidence in the management and operations of the company.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/rfl-approves-23pc-cash-dividend-1545495010

Three shoemakers shell out Tk 177cr for new plants

The footwear sector is set to get a fresh investment of Tk 177 crore through three companies seeking to grab a share of the country’s growing domestic market. One of the companies is Walkar, a sister concern of Pran-RFL Group, which would be putting in Tk 150 crore to expand its existing manufacturing facilities. They already set up six footwear manufacturing units at Danga Industrial Park in Narsingdi and another four units will be set up next year to raise production on a massive scale. Some 12 lakh pairs can be manufactured per month at the existing factory and the capacity would increase fourfold next year. Footsteps Bangladesh came about in association with VKC Footwear, which would be investing Tk 16.8 crore ($2 million). VKC is the second largest footwear manufacturer and marketer in India with an annual turnover of Rs 3,000 crore. Bangladesh bagged $438 million last fiscal year in export earnings from the footwear sector, becoming the world’s sixth largest footwear and leather goods exporter.

Source: https://www.thedailystar.net/business/news/three-shoemakers-shell-out-tk-177cr-new-plants-1677598

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DSEX5,265.31641↑ 22.75352↑0.43%
Nikkei 22520,166.19↓226.39↓1.11%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 45.59↓0.29↓0.63%
Crude Oil (Brent)$ 53.82↓0.53↓0.98%
Gold Spot$ 1,256.93↓2.93↓0.23%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 83.8024
GBP 1BDT 105.9681
EUR 1BDT 95.3001
INR 1BDT 1.1942





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