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 10, 2019

‘Market to improve this year on stable economic growth’

The respondents of a survey have expressed mixed views on the capital market performance in 2018. A significant number of respondents feel that the securities regulator has capacity constraint as a regulator. On the other hand, many respondents think that the low level of financial education among most traders is one of the main reasons behind market volatility. Of the respondents, 29 per cent said that the performance of the capital market was moderate in 2018 while 48.5 per cent think that the performance was not good throughout the year. The LankaBangla Securities carried out the ‘Bangladesh Capital Market Sentiment Survey 2019’. The online survey was conducted from January 1, 2019 to January 22, 2019 and 133 respondents from different milieus recorded their responses to the survey questionnaire. A significant number of respondents feel that the country’s stable economic growth will have a positive impact on the capital market in 2019.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/market-to-improve-this-year-on-stable-economic-growth-1549728037

BSRM to set up wire plant for Tk 459cr

BSRM Group is set to establish a wire manufacturing plant at Mirsarai in Chattogram at a cost of Tk 459 crore as the country’s leading steel manufacturer looks to capitalise on the impending construction boom in Bangladesh. As per the Chairman of BSRM Group, to be christened BSRM Wires, the new concern of the port city-based business group will manufacture four types of wires that are currently imported. The steel industry is booming thanks to the mega projects that the government has set in motion. The prices of raw materials of wires are very low in the international market but the prices of the finished goods end up being high for Bangladesh due to imports. According to him, Local manufacturing will reduce their prices. The plant is being implemented with 70 percent bank financing and 30 percent equity investment.

Source: https://www.thedailystar.net/business/news/bsrm-set-wire-plant-tk-459cr-1700023

961 export-oriented RMG units come under digital mapping A total of 961 export-oriented readymade garment (RMG) factories located in Dhaka district have been brought under the digital mapping system to have better ideas about the industry based on credible data. Under the public database system, the authorities map factory names, GPS location, postal address, number of workers, products, export countries, brands and buyers, memberships, affiliations and certifications. Of them, 855 units are registered by the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) and 144 are members of Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA). There are some units that have registered with both the trade bodies. About 774,422 workers have been listed under the mapping where 60.8 per cent are female and 39.2 per cent are male workers.

Source: http://today.thefinancialexpress.com.bd/first-page/961-export-oriented-rmg-units-come-under-digital-mapping-1549730661

DITF ends with Tk 200 crore export orders

The 24th Dhaka International Trade Fair-2019 ended on Saturday with businesses receiving export orders worth around Tk 200 crore. As per the Commerce Minister, the businesspeople bagged higher export orders this year as last year the figure was around Tk 160 crore. According to a senior parliamentarian, the country’s export earnings were $35.67 billion in 2018 while the earnings were expected to be $39 billion in 2019. The government has also set a target of exporting $60 billion worth of products and services by 2021 when the country will celebrate 50 years of independence.

Source: http://www.newagebd.net/article/64345/ditf-ends-with-tk-200-crore-export-orders

Textile sector needs Tk 10,000cr investment

Bangladesh needs Tk 10,000 crore additional investments in the primary textile sector to reduce its import dependence for fabrics for the export-oriented garment sector. For instance, in 2018 Bangladeshi garment exporters imported 5.52 lakh tonnes of fabrics worth Tk 33,156 crore, according to data from the National Board of Revenue and Bangladesh Textile Mills Association (BTMA). The local textile millers can supply 4 billion metres of fabrics, so Bangladesh imports 6 billion metres of fabrics from China and 3 billion metres from India. Currently, the local textile millers can meet 85 percent of the demand from the knitwear sector and 35 percent from the woven sector, according to data from the BTMA.

Source: https://www.thedailystar.net/business/news/textile-sector-needs-tk-10000cr-investment-1700014

BD ranks 121st economically freest country

Bangladesh has become 121st economically freest country in the world with a score of 55.6, according to the economic freedom index of Heritage Foundation. The country’s overall score has risen by 0.5 points, with higher scores on factors like property rights and government integrity countering declines in investment freedom and fiscal health. The 2019 index also ranked Bangladesh 27th among 43 countries in the Asia-Pacific region. The country’s overall score is below the regional and world averages of 60.6 and 60.8 respectively. According to a report, approximately 6.0 per cent robust growth annually for two decades has been driven by a rapid rise in private consumption and fixed investment.

Source: http://today.thefinancialexpress.com.bd/first-page/bd-ranks-121st-economically-freest-country-1549730699

Govt. to install power grid in northern region

As per the officials, the government is going to install a 400-koilovolt (KV) high-voltage power transmission line in the country’s northern region in order to import electricity from India, Nepal and Bhutan, and the proposed 260-kilometre-long power grid from Barapukuria to Kaliakoir through Bagura will be the first one in the northern Bangladesh. The state-run Power Grid Company of Bangladesh (PGCB) will construct the electricity transmission line with the financial support from the Indian second Line of Credit (LoC-II). It has already taken up a Tk 33.22 billion project to lay the transmission grid. Out of the total cost, more than half will come from the Indian LoC-II as the project assistance. The rest will be provided from the government’s own funds.

Source: http://today.thefinancialexpress.com.bd/first-page/govt-to-install-power-grid-in-northern-region-1549730623

Govt. set to take up pilot project for marine resources exploration

As per one official, the government is set to take up a pilot project for exploration of marine resources in the Bay of Bengal. Under the project in line with directives from the Prime Minister’s Office, the fishermen, who are engaged in catching fishes in the sea, will be provided with financial assistance and other logistic supports and Govt. have started working on the project. It is estimated that huge fishes of different varieties are being netted from the Bay every year. But the local fishermen in the coastal areas catch only an insignificant portion of the fishes for lack of logistical supports. Around 1.0 million families are fully dependent on the sector, including over 0.7 million families directly involved with catching fishes using only around 75,000 wooden boats and around 5,000 trawlers at present.


LankaBangla signs deal with paprii.com

LankaBangla Finance (LBF) recently signed an MoU with paprii.com for its customer privilege. Md Minhaz Uddin, Head of Cards of LBF, and Kazi Fouzia Hossain, CEO and Co-Founder of paprii.com, signed the MoU on behalf of their respective organisations. Under this MoU, LBF Card member will enjoy 15 per cent discount (round the year). For this Valentine’s Day, card member will enjoy 20 per cent discount till February 28 from paprii.com for any e-commerce transaction.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/lankabangla-signs-deal-with-papriicom-1549728266

Premier Bank to raise lending to CMSMEs

Premier Bank Ltd., a leading third generation private sector bank, looks to expand its credit portfolio in the Cottage, Micro, Small and Medium Enterprises (CMSMEs) sector to 50 per cent of the total credit exposure from existing 35 per cent by 2021. Of the total credit in this sector, 30 per cent will be disbursed to manufacturing segment, 31 per cent to services-based segment and 39 per cent to the trading segment. Managing Director and CEO of the bank revealed the bank’s plan in an interview with The Financial Express recently. At the same time, the bank is also committed to reducing non-performing loan rate to zero per cent by the end of 2020 to make it stronger and healthier.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/premier-bank-to-raise-lending-to-cmsmes-1549728121

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA25,106.33 ↓ 63.20↓0.25%
FTSE1007,071.18 ↓ 22.40↓0.32%
Nikkei 22520,333.17↓418.11↓2.01%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 52.72↑ 0.08↑0.15%
Crude Oil (Brent) $ 62.10↑ 0.47↑0.76%
Gold Spot$1,316.61↑6.50↑0.50%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 83.6868
GBP 1BDT 108.3326
EUR 1BDT 94.7586
INR 1BDT 1.1735





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