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 06, 2019

ADB to lend more to BD

The Asian Development Bank (ADB) said on Tuesday of extending its financial support further to Bangladesh’s development in future. The Manila-based lender said it will finance more development projects in addition to the current portfolios. ADB Country Director assured the Finance Minister of the increased financial support from the ADB. One of the largest multilateral development partners for Bangladesh over the years, the ADB made a commitment of a record $2.1 billion worth of assistance in fiscal year (FY) 2017-18. Its aid commitment in FY 2016-17 was also $2.1 billion for different projects. In FY ’18, the ADB disbursed $1.1 billion for different projects and programmes. It was $811 million in FY ’17. Its total portfolio in Bangladesh is so far nearly $10 billion. It is also providing loans and grants for 54 ongoing projects here.

Source: http://today.thefinancialexpress.com.bd/last-page/adb-to-lend-more-to-bd-1549389062

 Overseas investors back to stock markets  

Net foreign investment in the Dhaka Stock Exchange bounced back in January as investors shook off the election jitters. Last month, foreign investors bought shares worth Tk 495.19 crore and sold shares worth Tk 319.90 crore, taking their net investment to Tk 175.29 crore. In December, it stood at Tk 101.53 crore in the negative, as fears of political uncertainty centring the national polls on December 30 reigned supreme. As per the secretary general of the Bangladesh Merchant Bankers Association, Foreign investors have started gaining confidence after the 11th parliamentary elections.

Source: https://www.thedailystar.net/business/news/overseas-investors-back-stock-markets-1698118

 Top 10 pharma companies keep holding nearly 68pc of market: data

The top 10 local pharmaceutical companies continue holding more than 67 per cent share of the Bangladesh medicine market while 194 others hold only 32 per cent, according to the IQVIA data. The data of IQVIA, an American multinational product-based company serving the combined industries of health information technologies and clinical research, showed that market share of the top 10 companies in 2018 decreased by 0.3 percentage points to 67.82 per cent from 68.12 per cent in 2017. According to the data, Square Pharmaceuticals Ltd holds the highest market share (16.95 per cent) with annual sales worth Tk 3,476.25 crore of the total market size of Tk 20,511.88 crore.

Source: http://www.newagebd.net/article/63935/top-10-pharma-cos-keep-holding-nearly-68pc-of-market-data

 BB to relax bank loan write-off policy  

Bangladesh Bank has initiated a move to review its loan write-off policy by extending banks’ capacity for writing off bad debts without filing any lawsuit. Banks use the mechanism of writing off bad loans to portray better financial condition but they have to keep 100 per cent provision against the write-off. Besides, recovery of any written-off loan is considered earnings of a bank. For writing off any bad loan, a bank is supposed to file case against the defaulting entity or person along with keeping provision against the loan amount. As per the existing rules, banks, however, can write of a loan worth below Tk 50,000 without taking any legal measure. As per the officials, under the review move, BB would allow banks to write off loans worth up to Tk 2-3 lakh without filing any lawsuit.

Source: http://www.newagebd.net/article/63931/bb-to-relax-bank-loan-write-off-policy

 US keen to invest more in BD: Envoy

The United States is eager to invest more in Bangladesh as the country (Bangladesh) has a potential market. Newly appointed US Ambassador to Bangladesh Earl Robert Miller expressed his country’s interest while talking to reporters after he met with Commerce Minister at the latter’s secretariat office. The envoy has also emphasised that a strong Bangladesh-US trade relationship is in the interest of the Bangladeshis and American people.

Source: http://today.thefinancialexpress.com.bd/trade-market/us-keen-to-invest-more-in-bd-envoy-1549387445

Multiparty meet today over legal barriers to cutting bad loans  

Bangladesh Bank will hold a multiparty meeting today in presence of Law Commission officials to discuss the legal barriers to expediting recovery of bad loans amount of which stood at Tk 99,370 crore in the country’s banking sector at the end of September last year. In Bangladesh, the amount of bad loans, also known as non-performing loans, is 11.48 per cent of the total outstanding loans of Tk 8,65,930 crore while it is 2 per cent in Nepal and below 7 per cent in India.

Source: http://www.newagebd.net/article/63934/multiparty-meet-today-over-legal-barriers-to-cutting-bad-loans

BSEC approves FSIBL bond

The securities regulator has approved the proposal of issuing mudaraba subordinated bond worth Tk 7.0 billion by the First Security Islami Bank Limited. The approval came Tuesday at a meeting held at the office of the Bangladesh Securities and Exchange Commission (BSEC). The tenure of the bond will be seven years and the characteristics are non-convertible, fully redeemable, unsecured and unlisted. The bond will be issued to different financial institutions, insurance companies, corporate entities, and other eligible investors through private placement. The fund will be raised to strengthen the bank’s tier-II capital base. The offer price of the bond will be Tk 1.0 million per unit.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/bsec-approves-fsibl-bond-1549384299

CDBL to stop share sales sans declaration

The securities regulator has asked the Central Depository Bangladesh Limited (CDBL) to strictly enforce the ‘mandatory declarations’ requirement in the case of share transfer by the sponsor-directors and placement shareholders of listed companies. The instruction came in the wake of transfers of these types of shares without such declarations. The Bangladesh Securities and Exchange Commission (BSEC) instructed the CDBL to find a way of containing the share sales executed without declarations.

Source: http://today.thefinancialexpress.com.bd/last-page/cdbl-to-stop-share-sales-sans-declaration-1549389003

 Genex Infosys makes debut today

As per the officials, Genex Infosys Ltd, an IT company, makes its share trading debut today (Wednesday) on the bourses under “N” category. Genex Infosys is the 9th company under the IT sector on the Dhaka Stock Exchange (DSE). The company raised a fund worth Tk 200 million from the capital market under the fixed price method by offloading 20 million ordinary shares at an offer price of Tk 10 each under the fixed price method. The share subscription for the initial public offering (IPO) of Genex Infosys was held on November 18 and November 29 last year. Bangladesh Securities and Exchange Commission (BSEC), approved the company’s IPO proposal on September 4, 2018.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/genex-infosys-makes-debut-today-1549384131

 Green Delta launches AR calendar

Green Delta Insurance Company, a leading non-life insurance entity of the country, has launched the country’s first-ever Augmented Reality calendar. According to Green Delta officials, this AR calendar is also the first of its type in whole Asia. The whole augmented reality experience is delivered through a mobile application called ‘GD Calendar’ developed by Green Delta. The application is available for download in both iOS App Store and Android and Google Play Store.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/green-delta-launches-ar-calendar-1549384228

 Esquire Knit holds IPO lottery draw tomorrow

The IPO lottery draw of Esquire Knit Composite will be held tomorrow (Thursday) which will allocate 14.06 million ordinary shares among the successful applicants. As per the officials, the event will be held at 10:30 am at the Institution of Engineers, Bangladesh (IEB) in Dhaka. The IPO draw results will be published on the websites of Dhaka Stock Exchange (DSE), Chittagong Stock Exchange (CSE) and the company. The initial public offering (IPO) subscription of Esquire Knit was held between January 06 and January 20. The company raised a total capital of Tk 1.50 billion through issuing 34.89 million ordinary shares under the book-building method.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/esquire-knit-holds-ipo-lottery-draw-tomorrow-1549384263

 Mongla to host economic zone for India

Dhaka is set to sign a memorandum of understanding (MoU) with New Delhi on February 8 to set up an Indian Economic Zone in Mongla, Bagerhat. The NIDAR Industrial Park Pune (Pvt) Ltd., a sister concern of Hiranandani Group, will develop the economic zone (EZ) on 110 acres of land. The MoU is likely to be signed at the 5th India-Bangladesh Joint Consultative Commission (JCC) meeting to be held in New Delhi on February 7-8.

Source: http://today.thefinancialexpress.com.bd/first-page/mongla-to-host-economic-zone-for-india-1549388738

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DSEX5,800.24136↓ 27.82878↓0.48%
DJIA25,411.52 ↑172.15↑0.68%
Nikkei 22520,957.37↑ 112.92↑0.54%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$53.72↑0.06↑0.11%
Crude Oil (Brent)$ 62.03↑0.05↑0.08%
Gold Spot$1,315.15↓0.17↓0.01%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 83.8873
GBP 1BDT 108.6592
EUR 1BDT 95.6399
INR 1BDT 1.1721





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