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 09 2017

Economic affairs body approves deep sea gas exploration deal

The Cabinet Economic Affairs Committee on Wednesday in principle approved proposal to sign the final deal with South Korean company for oil and gas exploration in the deep sea block DS-12, reports UNB. According to the Energy Division’s proposal the final deal will be signed with South Korean Posco Daewoo International Corporation. Officials said state-owned Petrobangla earlier signed an initial deal with South Korean company Posco Daewoo for the block DS-12 on December 7 last year.

Source: http://print.thefinancialexpress-bd.com/2017/02/09/164339

Bangladesh to get 2nd submarine cable connection on February 21

Bangladesh is going to connect with the second submarine cable on February 21 to get another 1500 gbps bandwidth, as the SEA-ME-WE 5 consortium is set to launch its global operation on this day, reports BSS. The South East Asia-Middle East-Western Europe 5 (SEA-ME-WE 5), a consortium of 15 leading telecom operators from 17 countries, would announce its operation at a ceremony in Turkish city of Istanbul, said officials.

Source: http://print.thefinancialexpress-bd.com/2017/02/09/164308

Businesses exempt from advance VAT

Businesses will be exempt from depositing advance amounts of VAT for goods and services from July 01 next. The exemption will come into effect following enforcement of the new VAT law. Officials said the revenue board will abolish the provision of ‘account current register’ in the new VAT and Supplementary Duty Act 2012, up for taking effect on the first day of the next fiscal year. All businesses will be required to pay VAT at the time of submission of VAT returns every month instead of advance payment of the tax.

Source: http://print.thefinancialexpress-bd.com/2017/02/09/164340

Bangladesh can become 28th largest economy by 2030: PwC

Bangladesh has the potential to become the world’s 23rd largest economy by 2050, overtaking countries such as Netherlands, Australia, Spain, Thailand and Malaysia, according to PricewaterhouseCoopers. PwC also predicted that Bangladesh would be the 28th largest economy by 2030, up from 31st in 2016. But this lift will depend largely on how the country moves to create jobs for the growing young people, said the report — ‘The Long View: how will the global economic order change by 2050?’ The report ranked 32 countries that altogether account for about 85.0% of the world’s GDP measured on a purchasing power parity basis. PPP is a method of currency valuation based on the premise that two identical goods in different countries should eventually cost the same. On a PPP basis, Bangladesh’s GDP would stand at USD 3064.0 billion in 2050, up from just USD 628.0 billion in 2016.


160km grid line to supply power from Pyra coal-fired plant

The government will install a 160-kilometre 400-kilovolt (kv) high-voltage power grid from Patuakhali to Gopalganj for carrying electricity from the proposed 1,320-megawatt (MW) coal-fired power plant, officials said Wednesday. Power Division officials said the Power Grid Company of Bangladesh (PGCB) has already undertaken the project to construct the power grid for supplying uninterrupted electricity from the upcoming 1320MW thermal power plant at Pyra. The PGCB has taken up the project at a cost of BDT 33.2 billion. PGCB has sent the project proposal to the Planning Commission (PC) for getting its approval.

Source: http://print.thefinancialexpress-bd.com/2017/02/09/164307

ADB disbursement likely to maintain current level

Bangladesh expects disbursement of loans by the Asian Development Bank (ADB) at current rate as the country received USD 813.0 million last year from the lender. Finance Minister AMA Muhith made the observation while talking to newsmen after his meeting with a delegation led by ADB vice-president Wencai Zhang at his secretariat office Wednesday.

Source: http://print.thefinancialexpress-bd.com/2017/02/09/164343

Cabinet body okays Japan consultancy for building rail bridge over Jamuna

Japanese Oriental Consultants Global Company Ltd will provide consultancy for the construction of dual- gauge railway tracks over the river Jamuna. The cabinet committee on public purchase gave its approval to the proposal on Wednesday at its regular meeting held at the Bangladesh Secretariat with finance minister AMA Muhith in the chair. The total cost of the railway project is estimated at over BDT 97.3 billion.


Local and Global Stock Indices

Index NameClose ValueValue ChangePercentage Change
Dow Jones Industrial Average20,054.34↓35.95↓0.18%
Nikkei 2257,188.8212.610.04%
FTSE 10018,971.46↓36.14↓0.19%

World Commodities

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)*$52.6110.2710.52%
Crude Oil (Brent)*$55.4310.3110.56%
Gold Spot*$1,241.9110.3810.03%

Major Currencies Exchange Rates Movement in Last Seven Days





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