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 January 03, 2019

Stocks keep gaining amid growing confidence

Stocks rallied for the ninth straight session on Wednesday amid growing investors’ confidence as the national election was held almost peacefully on December 30. Market analysts said the investors took a fresh position expecting better days ahead riding on political stability and more sound business activities. Continuing the previous eight days’ gaining streak, the market started on a positive vibe, but saw some fluctuations in the middle of the session. And last hour’s buying spree helped market to close higher. DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 31.18 points or 0.57 per cent to settle at 5,496. DSEX added more than 278 points or 5.34 per cent in the past nine consecutive sessions. The stockbroker noted that trading activities also rose 31 per cent as the investor injected fresh funds into stocks on lucrative price levels. The two other indices ended higher. The DS30 index, comprising blue chips, advanced 27.41 points to finish at 1,908 and the DSES (Shariah) index soared 12.98 points to settle at 1,245. The total turnover rose to Tk 6.96 billion, which was 31 per cent higher than the previous day’s Tk 5.30 billion. The top ten companies grabbed 26 per cent of the total turnover where the textile sector stocks captured 20 per cent, followed by engineering with 16 per cent and pharmaceuticals 13 per cent. The power sector posted the highest gain of 2.0 per cent, followed by financial institutions with 1.80 per cent and engineering 1.40 per cent and textile 1.40 per cent each. The port city bourse CSE also ended higher with the CSE All Share Price Index – CASPI – soaring 133 points to settle at 16,864 while the Selective Categories Index – CSCX -rising 79 points to finish at 10,194.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/stocks-keep-gaining-amid-growing-confidence-1546450118

Average inflation in 2018 declines to 5.55pc

The average inflation in the country was at 5.55 per cent in the last calendar year (2018), thanks to the stable commodity markets at home and abroad. Bangladesh Bureau of Statistics (BBS) data, revealed on Wednesday, showed that the 12-month average inflation rate was recorded at 0.15 percentage points lower to 5.55 per cent in 2018 from that of 5.70 per cent in 2017. Meanwhile, the point-to-point inflation rate also dropped slightly to 5.35 per cent in December 2018 compared to that of 5.37 per cent in the previous month, according to the official data. In December 2017, the point-to-point inflation rate was 5.83 per cent. The government has targeted to keep the inflation within 5.56 per cent limit in the current FY. Of the point-to-point inflation in December, the food inflation dropped slightly to 5.28 per cent, while the non-food inflation rate declined to 5.45 per cent, the BBS data showed. In November 2018, the food inflation was recorded at 5.29 per cent, while the noon-food inflation was at 5.49 per cent. The inflation in the urban areas dropped to 6.14 per cent in December. In the previous month, the point-to-point inflation in the urban areas was 6.21 per cent. Meanwhile, the BBS also unveiled the wage rate index (WRI) on Wednesday. It showed that WRI dropped to 6.18 per cent in December 2018 from that of 6.26 per cent in the previous month.

Source: http://today.thefinancialexpress.com.bd/first-page/average-inflation-in-2018-declines-to-555pc-1546451601

Advanced products to be launched in capital market

Central Counterparty Bangladesh Limited (CCBL), a clearing and settlement company, will be formed within a week. DSE sources said all relevant formalities are near completion. The Dhaka Stock Exchange (DSE) on Wednesday submitted documents to Registrar of Joint Stock Companies and Firms (RJSC) for getting registration of the CCBL. The initial paid-up capital of the CCBL is Tk 3.0 billion. As per the negotiation, the DSE will hold 45 per cent shares of the CCBL while the CSE will hold 20 per cent, banks 15 per cent and Central Depository Bangladesh Limited (CDBL) and strategic investors10 per cent each. The CDBL is presently holding 20 per cent stake, including 10 per cent stake of strategic investors.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/advanced-products-to-be-launched-in-capital-mkt-1546449921

Bangas, Shurwid upgraded to “A” category in DSE

Dhaka Stock Exchange (DSE) has upgraded two listed companies to “A” category from existing “Z” category as they have reported disbursement of 10 per cent or more than 10 per cent dividend. The companies are: Bangas Limited and Shurwid Industries. The trading with upgraded category of these two companies will be effective from today (Thursday). To remain in “A” category, every company has to declare at least 10 per cent dividend every year. Stock brokers and merchant bankers have also been requested to abstain from providing loan facilities for the purchase of these companies’ share in the first 30 trading days after the change of categorization. Bangas was placed in the “A” category from existing “Z” category as the company has reported disbursement of 15 per cent stock dividend for the year ended on June 30, 2018. The Bangas, which was listed on the DSE in 1984, declared “no” dividend for the year ended on June 30, 2017, subsequently, the company sent to “Z” category. The company’s paid-up capital is Tk 72.62 million and authorised capital is Tk 500 million, while the total number of securities is 7.26 million.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/bangas-shurwid-upgraded-to-a-category-1546450161

Bangladesh stands second among India’s border trade partners

India’s border trade with its six neighbouring countries – Nepal, China, Pakistan, Bangladesh, Bhutan and Myanmar – accounted for a little over $12 billion, which was just 1.56 per cent of India’s total global trade of $769 billion in fiscal year 2017-18. India carries out its border trade with the farther neighbour Afghanistan via Pakistan, according to a report published in The Financial Express of India. As per the latest official data given in parliament, India’s total bilateral trade with Nepal in the last fiscal year (FY ’18) was $6.82 billion. The trade with Nepal was highly skewed in India’s favour. India exported goods worth $6.38 billion to Nepal and its import from the Himalayan country was $437 million. Bangladesh imported goods and services worth $4.13 billion in the fiscal year. Like Nepal, this bilateral trade is also highly skewed in India’s favour as India’s exported goods and services worth $3.61 billion to Bangladesh and its imports accounted for just $517 million. India’s total border trade with Bhutan stood at $728 million. Its exports to the north-eastern neighbour stood at $526 million and imports at $202 million. India’s total border trade with Pakistan is just two third of India’s total border trade with Bhutan, a country which has a population of just 0.8 million and economy of $2.54 billion as against Pakistan’s population of 210 million people and GDP of $304 billion. India’s border trade with China stood at $3.16 million, Myanmar $0.02 million, and Afghanistan $307.06 million.

Source: http://today.thefinancialexpress.com.bd/trade-market/bangladesh-stands-second-among-indias-border-trade-partners-1546450546

Remittance buoyant

Remittance hit an all-time high of $15.53 billion in 2018, giving a breather to the country’s ongoing foreign exchange crisis. Last year’s inflows were 14.79 percent higher than 2017’s, according to data from the central bank. The ongoing depreciating trend of taka against the US dollar, a strong stance taken by the central bank to fight illegal money transfers and the good commission offered by banks to remitters were the main reasons behind the spike. On January 2, the inter-bank exchange rate stood at Tk 83.90, up 1.45 percent from a year earlier. Many well-reputed agencies have recently forecasted that the global GDP growth will slow down this year, which will not bring any good for remittance inflows.

Source: https://www.thedailystar.net/business/news/remittance-buoyant-1682293

Oil price falls to $53 on economic worries

Oil fell to about $53 a barrel on Wednesday, under pressure from rising output in major Opec and non-Opec producers and due to concerns about an economic slowdown that could weaken demand. Russian production hit a post-Soviet record in 2018. Brent crude fell 72 cents to $53.08 a barrel at 1055 GMT. On Dec. 26, it hit $49.93, the lowest since July 2017. US crude slipped 56 cents to $44.85. Oil fell in 2018 for the first year since 2015 after buyers fled the market in the fourth quarter over growing worries about excess supply and the economic slowdown.

Source: https://www.thedailystar.net/business/news/oil-falls-53-economic-worries-1682092

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DSEX5,496.43861↑ 110.79728↑2.06%
Nikkei 22520,014.77↓62.85↓0.31%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 45.71↓0.83↓1.78%
Crude Oil (Brent)$ 54.49↓0.42↓0.76%
Gold Spot$ 1,288.79↑4.20↑0.33%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 83.7216
GBP 1BDT 105.0622
EUR 1BDT 95.1747
INR 1BDT 1.1931





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