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

Click to Close

Rate last updated: 02/01/2014 11:15:04 AM

Important Business News Extracts February 09, 2020

Govt has a new headache. It’s the high interest rates on T-bills and bonds

The interest rate on government Treasury bills and bonds, the main instruments for bank borrowing, doubled in the last one year — a development that will fuel budgetary expenditure and may discourage private sector credit, both of which are already sources of concern. Yields on Treasury bills and bonds have increased by 3 to 5 percentage points in the last year and a half. They now range between 7 to 9 per cent depending on the tenor of the instrument, according to central bank statistics. For one-year Treasury bill, the weighted average interest rate was 3.40 per cent in December 2018. A year later it was 8.04 per cent. The two-year Bangladesh Government Treasury Bond, another borrowing instrument, had interest rate of 4.33 per cent in December 2018, which soared to 8.80 per cent. The high interest rate of Treasury bills and bonds tempted banks to be conducive towards the government’s huge bank borrowing demand. In the first half of the fiscal year, the government’s domestic borrowing reached Tk 49,020 crore, which is 63 per cent of the full-year target. The government set a target to borrow Tk 77,363 crore from domestic sources in fiscal 2019-20 to meet the budget deficit. Net borrowing from savings instruments in the first half of fiscal 2019-20 was eight times lower at Tk 3,257 crore from a year earlier, according to data from the Bangladesh Bank. In December last year, the government did not borrow any money from savings certificate; rather it made repayment of Tk 408 crore. The amount of such liquidity increased to Tk 106,101 crore in December last year from Tk 67,601 crore at the beginning of 2019. In the first six months of the fiscal year, the government’s bank borrowing increased eight times to Tk 43,587 crore, according to central bank statistics.

Source: https://www.thedailystar.net/business/news/govt-has-new-headache-its-the-high-interest-rates-t-bills-and-bonds-1865407

Second satellite to be launched by 2023

The government is going to take action plan to set a target for launching the second satellite of Bangladesh, said Posts, Telecommunications and Information Technology Minister Mostafa Jabbar. The government is going to set a target for launching a second satellite to the orbit by 2023,” he told the House while responding to a starred question made by Anwar Hossen Khan of Lakshmipur-1 constituency. On May 11, 2018, Bangabandhu Satellite-1, the first geostationary communications satellite of Bangladesh, was launched from Kennedy Space Centre in Florida, USA. Thales Alenia Space, a French company, designed and built the satellite, which already underwent several test runs. Falcon-9, a brand new rocket, carried the satellite into the orbit. For Bangladesh, this has potentials to bring a new chapter in terms of technological advancement. The satellite will bring uninterrupted telecommunication system in Bangladesh.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/second-satellite-to-be-launched-by-2023-1581176322

BD achieves unprecedented success in all sectors

Bangladesh witnessed unprecedented successes in all sectors under her leadership to transform the country into a developed nation by 2041, they said while taking part in the discussion on the thanksgiving motion on the President’s address to the Jatiya Sangsad. Referring to the country’s achievements in different development indexes in the last one decade, he said, Bangladesh is now progressing towards becoming a developed country by 2041 leaving its neighbours behind in the indexes. Other MPs, taking part in the discussion, thanked the President for his time-worthy speech, saying that President Abdul Hamid in his 163-page speech has projected the government’s success in all sectors in the last 11 years under the leadership of Sheikh Hasina and outlined the government’s future plans for transforming the country into a developed and prosperous one by 2041.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/bd-achieves-unprecedented-success-in-all-sectors-1581176307

Bangladesh to lead fashion world

With holding the second position in global market share in apparel exports for long and evolving new designs and varieties of products successively, Bangladesh will lead the fashion world in the coming days. Dr Hasan expressed his optimism that the country will be successful in achieving the vision of a developed nation by 2041. Speaking on the occasion as the special guest, Chairman of Parliamentary Standing Committee on Information Ministry Hasanul Haq Inu underscored the need for branding Bangladesh products to make them familiar and popular in the global market.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/bangladesh-to-lead-fashion-world-hasan-mahmud-1581176068

DCCI workshop on e-GP ends

A two-day workshop, hosted by Dhaka Chamber of Commerce and Industries (DCCI), ended on Saturday, highlighting a comprehensive understanding of the public procurement process. It broadly discussed the approval of procedure in line with the Public Procurement Rules 2008 and the Public Procurement Act 2006. Thirty business professionals of different organisations took part in the ‘Public Procurement and e-GP Tender Procedure’ workshop from February 07-08 at DCCI Business Institute (DBI).

Source: https://today.thefinancialexpress.com.bd/trade-market/dcci-workshop-on-e-gp-ends-1581176727

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DSEX4,452.96102↓ 12.94↓ 0.28 %
↓ 277.26↓ 0.94 %
FTSE1007,466.70↓ 38.09↓ 0.51 %
Nikkei 22523,827.98↓ 45.61↓ 0.19 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 50.32↓ 0631↓ 1.24 %
Crude Oil (Brent)$ 54.47 ↓ 0.46↓ 0.84 %
Gold Spot$ 1,570.44↑ 3.78↑ 0.24 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 83.2796
GBP 1BDT 107.252
EUR 1BDT 91.1354
INR 1BDT 1.16288





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