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 20, 2019

Move to raise Tk 8.78t from bond mkt to propel

Economic growth As per the officials, coordinated efforts are on to raise Tk 8.78 trillion from the bond market for achieving 8.0 per cent plus economic growth by 2021 and to this end, a tripartite committee has already been formed to boost the country’s nascent bond market, particularly the corporate one. According to the officials, the fund will be required to bridge the resource gap for achieving the 8.0 per cent plus growth within the timeframe to become a middle-income country, The size of nominal gross domestic product (GDP) is estimated to reach Tk 32.78 trillion by the end of fiscal year (FY) 2020-21 while the resource gap will hit Tk 8.78 trillion, according to the central bank. The Bangladesh Bank (BB) has calculated the resource gap taking into consideration the credit flow by banks, investment and fund flow from the capital market. The banks are still a dominant financial system asset in Bangladesh, contributing more than 62 per cent of asset in 2018, while the capital market has contributed 16.50 per cent, the BB said in a study that was placed at a strategic planning meeting on February 09.


Two major UAE Firms want to invest in BD

Two major UAE companies – Lulu Group International and NMC Group – today expressed their keenness to invest in Bangladesh, particularly in the areas of healthcare, hotel, shopping mall and tourism. Chairman and Managing Director of Lulu Group and Founder and Chairman of NMC Group expressed their keenness during a courtesy call on Prime Minister Sheikh Hasina at her hotel suite here. As per Lulu Group Chairman, Bangladesh has emerged as a very potential area for investment in the tourism and hyper shopping mall and sought land in Dhaka or adjacent areas. The group has a plan to construct a shopping mall which would create opportunities for about 5,000 people and have a convention centre and car parking facilities for 3,000 vehicles.

Source: http://today.thefinancialexpress.com.bd/last-page/two-major-uae-firms-want-to-invest-in-bd-1550599732

Blue Economy worth $6.2bn

As per the analysts, the ocean contributes more than $6 billion annually to the Bangladesh economy and has the potential to generate more income. As per the Fishcode manager of the Food and Agriculture Organization (FAO), there are a lot of opportunities in the area of blue economy, especially in post-harvest processing. Alder’s comments came at the inaugural session of a two-day dialogue on Bangladesh’s blue economy, jointly organised by the Ministry of Fisheries and Livestock and the FAO at Pan Pacific Sonargaon Dhaka to identify areas for development. The gross value addition (GVA) of Bangladesh’s ocean economy was $6.2 billion in fiscal 2014-15, accounting for 3.3 percent of the country’s total GVA. Tourism accounted for one-fourth of the total, followed by marine fisheries and aquaculture at 22 percent, transport at 22 and energy at 19 percent.

Source: https://www.thedailystar.net/business/news/blue-economy-worth-62bn-1704688

BIDA’s 15 services go online from Feb 24

Bangladesh Investment Development Authority (BIDA) will make 15 services available online from February 24 to ease the process of getting permissions for opening business in the country. BIDA asked the related branches to provide the services through online as the preparations in this regard have already been completed. The services are visa recommendation (new), visa recommendation (amendment), visa on arrival, visa on arrival (amendment), work permit (new), work permit (amendment), work permit (cancellation), work permit (extension), office permission (new), office permission (extension), office permission (cancellation), office permission (amendment), project registration (new), remittance services (new) and payment gateway.

Source: http://www.newagebd.net/article/65329/bidas-15-services-go-online-from-feb-24

Top ten Companies grab 37pc turnover

The United Power dominated the Dhaka bourse’s turnover chart on Tuesday while ten most traded companies captured nearly 37 per cent of transactions. As per the market analysts, the investors continued to show their buying appetite for United Power Generation & Distribution Company’s shares as it posted modest earnings growth for July-December period. The company’s earnings per share (EPS) (separate) rose 15.18 per cent to Tk 5.31 for July-December 2018. 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.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/top-ten-cos-grab-37pc-turnover-1550591400

UCB, Orogenic Resources (BD) ink deal United Commercial Bank Limited

(UCB) and Orogenic Resources (BD) signed an agreement to purchase world renowned software, DocuWare to execute Document Management System both physically and digitally recently at the Corporate Office of the Bank. Deputy Managing Director of UCB and Managing Director of Orogenic Resources (BD) Ltd signed the agreement on behalf of their respective organizations in presence of Mr. Mohammed Shawkat Jamil, Managing Director of UCB.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/ucb-orogenic-resources-bd-ink-deal-1550591431

Beximco Pharma to acquire eight ANDAs from Sandoz Inc

Beximco Pharmaceuticals Limited on Tuesday announced the signing of a definitive agreement with Sandoz Inc., a division of Novartis, to acquire a portfolio of eight Abbreviated New Drug Applications (ANDAs) in the US for an undisclosed amount in cash. Beximco Pharma’s current US portfolio comprises six US Food and Drug Administration (FDA) approved products. Four of these products are currently being exported to the US and two products are awaiting regulatory approval. Following this transaction, Beximco Pharma’s US portfolio will consist of 14 approved ANDAs.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/beximco-pharma-to-acquire-eight-andas-from-sandoz-inc-1550591376

Post office goes big on E-Commerce

Bangladesh Post Office has started delivering parcels for online marketplaces on a wider scale across the country — a giant stride towards boosting e-commerce. As per the Director General of Bangladesh Post Office, after two and a half years of preparations, the postal department has now started delivering about 500 orders a day for the country’s renowned online platforms and the number of deliveries will hit 5,000 within the next couple of months.

Source: https://www.thedailystar.net/business/news/post-office-goes-big-e-commerce-1704709

Govt, Businesses seek Austrian FDI

Government high-ups and business leaders yesterday urged the Austrians to come up with foreign direct investment in Bangladesh to benefit from the business opportunity offered by the country. The potential sectors where investment could be made include readymade garment, leather and footwear, shipbuilding, agro-processing, pharmaceuticals, medical equipment, automotive, electronics and technology-driven innovative businesses. The investment proposal came at a “Bangladesh-Austria Business Dialogue” jointly organised by the Business Initiative Leading Development (BUILD) and the ADVANTAGE Austria at the Metropolitan Chamber of Commerce & Industry, Dhaka. In response, 11 visiting Austrian companies showed willingness to increase their trade volume with Bangladeshi businesses.

Source: https://www.thedailystar.net/business/news/govt-businesses-seek-austrian-fdi-1704694

RHD to build 60-km circular road to ease city’s gridlock

As per the Officials, the Roads and Highways Department (RHD) will build a 60.1-km inner circular road in the south-western part of Dhaka city, investing around US$ 1.61 billion. The proposed four-lane dedicated road will be constructed on Dhour-Birulia-Gabtoli (Shinnirtek)-Swarighat-Chunkutia-Postogola-Chashara-Shimrail-Demra route. According to the officials, RHD has planned to complete building the circular road by 2022 for diverting vehicles from inside the capital through it and RHD has already started searching foreign assistance to construct the road.

Source: http://today.thefinancialexpress.com.bd/first-page/rhd-to-build-60-km-circular-road-to-ease-citys-gridlock-1550599167

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
FTSE1007,179.17 ↓40.30↓0.56%
Nikkei 22521,461.48↑158.83↑0.75%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 56.06↓0.03↓0.05%
Crude Oil (Brent) $ 66.39 ↓0.06↓0.09%
Gold Spot $1,345.99↑5.05↑0.38%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 84.0100
GBP 1BDT 109.8095
EUR 1BDT 95.3598
INR 1BDT 1.1773





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