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 24, 2019

DSEX crosses 5900-mark after 11 months

The benchmark index of the Dhaka Stock Exchange (DSE) exceeded the 5900-mark on Wednesday after eleven months as bank stocks kept the market afloat. DSEX, the prime index of the Dhaka Stock Exchange (DSE), settled at 5,925, climbing by 59.78 points or 1.02 per cent. It was the highest level of DSEX since February 19, 2018. As per the market analysts stocks maintained its rally amid spontaneous participation backed by enthusiasm, taking the core index above 5900-mark after eleven months. According to a leading broker, investors have regained confidence in the market after the elections and chose the financial sector issues as the sector will declare year-end earnings results soon. According to him the banking sector has remained at a low level, drawing investors. The price-earnings (PE) ratio of the sector is still low, so investors are looking at them as safe investment option. The banking sector posted the highest gain of 3.12 per cent with the entire 30 banks saw their price appreciations. The sector also accounted for 28 per cent of the day’s total turnover. According to IDLC Securities, DSEX climbed by 1.02 per cent reaching 11-month high as bank stocks kept index buoyant.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/dsex-crosses-5900-mark-after-11-months-1548265091

BB to unveil H2 monetary policy Jan 30

Bangladesh Bank is likely to announce monetary policy for the second half of the current fiscal year 2018-2019 on January 30 amid falling private sector credit growth. As per the officials of BB expediting credit growth flow for the private sector would be a major consideration of the central bank as creating new job opportunities largely depends on private sector investments. Although BB, in its monetary policy statement for the July-December period projected to support 16.8 per cent credit flow in the private sector, the actual growth was far lower than the projection. At the end of December, the last month of the monetary policy for the first half, private sector credit growth declined to 13.2 per cent, the lowest in 39 months. Businesses were cautious in expanding their bank credit before the national polls held on December 30 of the immediate past year along with liquidity crisis in the banks ahead of advance deposit ratio adjustment by March this year. These were the major reasons behind the fall in private sector growth. Bangladesh Bank governor Fazle Kabir will unveil the monetary policy statement for January-June of the FY19.

Source: http://www.newagebd.net/article/62694/bb-to-unveil-h2-monetary-policy-jan-30

Banking sector snares 28pc turnover of DSE

The banking sector grabbed 28 per cent turnover of the Dhaka Stock Exchange (DSE) on Wednesday. Five banks featured in the top turnover chart after long time. Five banks — Premier Bank, IFIC Bank, City Bank, National Bank and Dhaka Bank- accounted for 14 per cent of the day’s total turnover. Market analysts said investors continued their focus on the banking sector issues ahead of year-end earnings reports and dividend expectations. The banking sector also posted the highest gain of 3.12 per cent on Wednesday with all the 30 banks closed green. The financial sector and multinational sector will declare dividend soon as their year ended on December 31, 2018. According to statistics available with the DSE, about 26.10 million shares of Premier Bank were traded, generating a turnover of Tk 446 million, which was 4.26 per cent of the DSE’s total turnover. The total turnover on the DSE stood at Tk 10.45 billion on Wednesday which was Tk 8.85 billion on the previous session.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/banking-sector-snares-28pc-turnover-of-dse-1548265133

Tk 9.0b disbursed under capital market refinancing scheme

The disbursement of Tk 9.0 billion has finally been completed under the capital market refinancing scheme initiated after 2010-11 stock market debacle to reduce sufferings of ‘affected’ investors. In August 2013, the state-run Investment Corporation of Bangladesh (ICB) received Tk 3.0 billion as the first installment of the refinancing scheme from the central bank. Later, the rest of the fund worth Tk 6.0 billion was disbursed through two installments. After disbursement of first installment, the tenure of the refinancing scheme was extended several times to ensure the utilisation of the fund. Finally, the fund’s disbursement came to an end in December last through repeated efforts of the supervisory committee of the refinancing scheme. As per an executive director of the Bangladesh Securities and Exchange Commission (BSEC), said the government had provided the fund with a good intension. According to report of supervisory committee, 35 merchant banks and brokerage firms have received the fund worth Tk 9.0 billion against the portfolios of 36,481 affected investors. Of Tk 9.0 billion, above Tk 5.83 billion was disbursed to 18 merchant banks, while 17 brokerage firms received the remaining fund worth Tk 3.16 billion.


$100b garment export possible by 2024

Bangladesh will be able to export $100 billion worth of garment items by 2024 as the international apparel retailers are placing an increasing number of work orders. As per the commerce Minister by 2021, when Bangladesh will also celebrate its 50th anniversary, it will be able to export garment items worth $50 billion. Last fiscal year, garment shipments fetched $30.61 billion, according to data from the Export Promotion Bureau and entrepreneurs need bank loans at lower interest rate for rapid expansion of the business. The government has been developing 100 special economic zones across the country. The local and foreign investors are allowed to invest in them and contribute to export receipts. This year, 370 companies from 22 countries are participating at the four-day exhibition in Dhaka to showcase products like yarn, denim fabrics, knitted fabrics, yarn and fibres, dyes, chemicals and innovative raw materials.

Source: https://www.thedailystar.net/business/news/100b-garment-export-possible-2024-1692091

Cabinet body approves 590MW power plant in Chattogram

As per the report of UNB the Cabinet Committee on Public Purchase on Wednesday approved a total of six proposals, including one to set up a 590 MW power plant in Chattogram under the private sector. The committee approved a proposal of the Power Division to allow a consortium of three companies — one Bangladeshi and two from China — to establish the 590 MW Combined Cycle Power Plant in Anwara of Chattogram. As per the proposal, the plant will be run with natural gas or imported re-liquefied natural gas (RLNG). The Bangladeshi sponsor of the project is United Enterprise & Co Ltd while the Chinese companies are Kyushu Electric power Co. Inc and Sojitz Corporation. State-owned Bangladesh Power Development Board (PDB) will purchase electricity from the plant for over 22 years at a levelised tariff of US Cent 3.6867 per unit (kilowatt hour) which is equivalent to Tk 2.9493 when it will be running with natural gas.

Source: http://today.thefinancialexpress.com.bd/last-page/cabinet-body-approves-590mw-power-plant-in-chattogram-1548266756

Philippines wants to import more medicines from BD

The Philippines has expressed its interest to import more medicines from Bangladesh. As per the commerce Minister the Southeast Asian country also expressed its willingness to invest in some sectors, including agro processing and leather sectors. Bangladesh earns only US$ 7.0 million through exporting medicines to the Philippines, but it has a potential to export more. The government will take necessary steps in this regard. The Philippines will also invest in special economic zones. As per the minister Bangladesh has little trade with the Southeast Asian country. A few items such as garments accessories and medicines are being exported to the Philippines. In the financial year 2017-2018, Bangladesh exported goods worth over US$47.04 million to the Philippines and the imports from that country stood at US$8.07 million,

Source: http://today.thefinancialexpress.com.bd/trade-market/philippines-wants-to-import-more-medicines-from-bd-1548265443

Govt plans to develop new coalmines by state-run companies

The government is planning to develop new coalmines on its own, breaking the decade-old stalemate over the issue. As per the Minister for Power, Energy and Mineral Resources, the coalmines will not be leased out to any foreign or local private sector company or their joint venture (JV) for exploration. This time govt will focus on utilising local coal. Several studies over utilising local coal are nearing completion. Currently, the country has five coalmines, but coal extraction is limited to only one coalmine at Barapukuria in Dinajpur, utilising the underground coalmining method. The Barapukuria Coal Mining Company Ltd (BCMCL) is annually extracting around 1.0 million tonnes of coal, most of which is consumed by the nearby Barapukuria thermal power plant. As per the officials According to the Power System Master Plan, the government has a plan to generate around 50 per cent of the country’s overall electricity from coal. To implement the plan, the government will have to generate around 12,000 megawatts (MW) of electricity from coal by 2024, 20,000 MW by 2030, and 30,000 MW by 2041.

Source: http://today.thefinancialexpress.com.bd/first-page/govt-plans-to-develop-new-coalmines-by-state-run-companies-1548266068

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DSEX5,925.24293 ↑ 59.77865 ↑ 1.02%
DJIA24,575.62↑ 171.14↓ 0.70%
FTSE1006,842.88 ↓ 58.51↓ 0.85%
Nikkei 22520,506.81↓ 86.91↓0.42%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 52.38↓0.24↓ 0.46%
Crude Oil (Brent) $ 60.89↓0.25↓0.41%
Gold Spot$1,283.63↑ 0.91↑ 0.07%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 83.6826
GBP 1BDT 109.4317
EUR 1BDT 95.3061
INR 1BDT 1.1732





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.

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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,

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Dhaka Bank Limited