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 February 05, 2019

Stocks snap three-day losing streak

Stocks rebounded on Monday, snapping a three-day losing streak, as bargain hunters went on buying binge on large-cap issues. Market analysts said investors were active in the market throughout the session riding on the news of soaring foreign funds in the market. Net foreign fund in stocks turned around in January after remaining negative in the past three months as overseas investors were putting fresh funds after the elections. The market opened on positive note and the key index rose about 54 points in the mid-session. But rest of the session eroded half of the gains. At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), settled at 5,828, gaining 26.73 points or 0.46 per cent after losing 123 points in the past three days. According to EBL Securities, the optimistic investors opted to take fresh position on large-cap stocks, taking the market in the green territory after three days. IDLC Securities said top three positive index contributors were Power Grid Company, Titas Gas and GP- gaining 8.03 per cent, 5.18 per cent and 2.03 per cent respectively.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/stocks-snap-three-day-losing-streak-1549302958

 ADB signs $50m microenterprise development loan deal tomorrow

The Asian Development Bank (ADB) will provide US $50 million loan to promote microenterprise development in Bangladesh through a credit line to Palli Karma Sahayak Foundation (PKSF) and its partner microfinance institutions. In this regard, the loan agreement between the government and the Asian Development Bank will be signed on Wednesday at 10:00am at the NEC-2. Besides, another project agreement will also be signed by the ADB and PKSF, a development finance organisation. According to the ERD and the ADB, the project will help PKSF to develop a financing strategy and carry out institutional strengthening.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/united-power-tops-turnover-chart-after-earnings-results-1549303012

 United Power tops turnover chart after earnings results

United Power dominated the Dhaka bourse’s turnover chart on Monday while top ten traded companies captured 28 per cent transaction. Market analysts said investors continued to show their buying appetite on United Power Generation & Distribution Company shares as the company posted modest earnings growth in July-December period. The company’s earnings per share (EPS) (separate) rose 15.18 per cent to Tk 5.31 for July-December. The EPS (separate) was Tk 4.61 for July-December, 2017. The company reported its consolidated EPS of Tk 7.69 for July-December, 2018. The financial performance of the United Power for July-December and October-December, 2018 were disclosed on the website of the Dhaka Stock Exchange (DSE) on Sunday.

Source: https://www.thedailystar.net/business/news/economic-zones-factories-get-uninterrupted-power-1697182

 Petrobangla wants to import LNG from spot market

The state-run Petrobangla has planned to import around one-fourth of the country’s total LNG requirement from the spot LNG market to keep open the option of sourcing the fuel from diverse sources. As per the officials, the remaining volume of liquefied natural gas (LNG) would be procured from long-term suppliers. Petrobangla has already initiated deals with a total of 15 global suppliers to import LNG from the spot market. The companies include Mitsui, ENI, Total, AOT Energy, Woodside Petroleum Ltd., Chevron Corp, Gunvor and local Summit Group. Spot market is a market in which commodity is bought or sold for immediate delivery or delivery in the very near future. Spot market for the LNG was developed recently with the gluts of LNG output alongside the growth of emerging markets for LNG.

Source: http://today.thefinancialexpress.com.bd/last-page/move-to-import-lng-from-spot-market-1549301687

 Govt issues digital commerce policy making JV must for foreign investors  

The government has issued a policy on digital commerce to facilitate the business in the country and make the system trustworthy to consumers by making digital transactions safer. The commerce ministry on January 31 issued a gazette notification containing the National Digital Commerce Policy-2018 which came into effect immediately. The policy bars the digital commerce business by a foreign company without forming a joint venture with a local company. The main goal of the policy is to establish digital commerce system in the country through using information and communication technology and to transform the trade and commerce into digital process for creating local and international markets.

Source: http://www.newagebd.net/article/63831/govt-issues-digital-commerce-policy-making-jv-must-for-foreign-investors

 Trade deficit drops by 11pc in H1  

Country’s trade deficit eased by 11.22 per cent in July-December in the current fiscal year (2018-19) compared with that in the same period of the last fiscal year (2017-18) amid slowdown in import growth and strong export earnings, especially from readymade garment sector. According to latest Bangladesh Bank data, country’s trade deficit stood at $7.66 billion in July-December of FY19, down from $8.62 billion in the same period of FY18. However, the country’s trade deficit in the first half of the current fiscal year still remained 69.84 per cent or $3.15 billion higher than the $4.51 billion trade deficit in July-December of FY17. Officials of the central bank said that the country’s trade situation in the first half of the current fiscal year was in inverse relation to the situation in the same period last fiscal year. In FY18, export growth was lenient against a strong import growth. On the other hand, export in the first half of FY19 showed strong growth while import growth was subdued.

Source: http://www.newagebd.net/article/63828/trade-deficit-drops-by-11pc-in-h1

 Telenor Health inks MoU with BRAC Bank

Telenor Health recently signed a Memorandum of Understanding (MoU) with BRAC Bank Limited at the head office of BRAC Bank. Under the agreement, the TARA Loan customers of Retail and SME Segment and TARA Platinum credit card cardholders of BRAC Bank Limited will enjoy TARA -Tonic package, Telenor Health’s health care service and all benefits of TARA- Tonic Package with free subscription for 12 months. Offer is effective from January 1, 2019 onwards.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/telenor-health-inks-mou-with-brac-bank-1549303497

 Bankers book evidence act’ in the pipeline

The government has made a move to make a new ‘bankers book evidence act’ which will accommodate all new banking products and services. The proposed act will replace the age-old British rule styled the ‘Bankers Book Act 1891’. After its formulation, courts may call records pertaining to the new products and services along with traditional books as legal documents. For example, the banking accounts maintenance tools will be admissible by courts as legal documents. The colonial act does not include modern banking products and services like automated teller machine, online payment, credit card and the like. As a result, any transaction through new devices cannot be meant for “official copy” for legal purposes to settle a case.

Source: http://today.thefinancialexpress.com.bd/first-page/bankers-book-evidence-act-in-the-pipeline-1549301442

 Import expenses exceed $30b mark in H1

Bangladesh’s import expenses exceeded the US$30 billion mark in the first half (H1) of the current financial year (FY), 2018-19, on the back of higher imports of intermediate goods. The overall imports stood at $30.07 billion during July-December of FY ’19, up from $28.44 billion in the same period of the previous fiscal, according to official figures provided by the Customs Department of Bangladesh.

The country’s imports grew by nearly 11 per cent in the H1 of FY ’19, following a 48.98 per cent increase in the import of mostly construction materials as intermediate goods, the central bank said on the basis of letters of credit (LCs) settlement.

Source: http://today.thefinancialexpress.com.bd/last-page/import-expenses-exceed-30b-mark-in-h1-1549301730

‘Dealer Meet’ programme of DBL Ceramics

Dealers of DBL Ceramics Limited posing for a photo during a ‘Dealer Meet’ programme at Dhaka Club in the capital recently with Chairman of DBL Group Abdul Wahed presiding. Chittagong Vikings players also seen with the dealers as the company is the platinum sponsor of the team in the current season of BPL

Source: http://today.thefinancialexpress.com.bd/trade-market/dealer-meet-programme-of-dbl-ceramics-1549304058

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
Nikkei 22520,875.38↓8.39↓0.04%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$54.83↑0.27↑0.49%
Crude Oil (Brent)$ 62.79↑0.28↑0.45%
Gold Spot$1,314.39↑2.14↑0.16%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 83.8474
GBP 1BDT 109.3202
EUR 1BDT 95.8795
INR 1BDT 1.1687





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