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 26, 2020

Rice prices rise by Tk 2.0-3.0 per kg

Prices of some medium and finer varieties of rice rose by Tk 2.0-3.0 per kilogram (kg) at the city retails in last one and half weeks, battering the consumers. Brridhan-28, Miniket and Jeerashail witnessed the hike which the traders attributed mainly to the current off-season for the three varieties. Brri-28 was selling at Tk 45-47 per kg at the retail markets during the period while Jeerashail and Miniket at Tk 55-68 a kg based on their quality. Belal Hossain, a grocer at Sankar of West Dhanmondi, said the prices of the three varieties increased by Tk 2.5-3.0 a kg at the wholesale. He said he bought Brri-28 at Tk 43 a kg from Mohammadpur Krishi Market wholesale on Saturday which was Tk 40 a kg one and half weeks ago. Haji Md Asadullah, joint secretary of Babubazar and Badamtoli Rice Wholesalers’ Association, said the prices of Boro varieties increased by Tk 90-100 per 50 kg sack. The Swarna variety of Aman season was selling at Tk 25.60-28 a kg in Kushtia, Pabna, Rajshahi, Rangpur and Dinajpur regions based on quality. The government was expecting 14.7 million tonnes of rice production in the just-ended Aman harvesting season, according to the Department of Agriculture Extension (DAE). Bangladesh produced an all-time high 37.2 million tonnes of rice in the last financial year (FY ’19).

Source: https://today.thefinancialexpress.com.bd/trade-market/rice-prices-rise-by-tk-20-30-per-kg-1579963820

Stingy listed companies sap investor spirit

Most of the listed companies are keeping the majority of their profits instead of sharing the spoils with their shareholders in the form of cash dividends — in yet another reason for the currently low confidence in the stock market. Of the 359 listed companies, 309 logged in profits in their last financial year. The 309 companies’ total profits stood at Tk 23,015.41 crore, but 53.85 per cent was retained by them. This, arguably, does not look too bad — and Grameenphone is to thank for it. The country’s leading mobile operator is a generous sharer of profits with its general shareholders. If Grameenphone’s dividend amount is taken out, the percentage that the companies hold on to for themselves rises to about 68 per cent. RN Spinning Mills never provided cash dividend since its listing in 2009, when it raised Tk 30 crore. It booked profits on most of the years and yet provided stock dividends. Now, it has become a loss-making company. So, the company provided nothing to its investors in the last ten years but a depreciation of their portfolio: its share price has now come crashing down to just Tk 3. Companies in which the directors have small stakes tend to not provide dividends, said another stock investor citing the example of RN Spinning Mills. RN Spinning Mills’s five directors altogether have a 30 per cent stake in the textile manufacturer. Some 80 companies did not pay anything to the shareholders despite recording profits, according to data from the Dhaka Stock Exchange. And most of the companies’ directors hold less than 40 per cent shares. However, 34 companies provided higher dividends than their profits. Of them, 17 are mutual funds and three are multinationals. The chief financial officer of a listed company said upon condition of anonymity that his firm was able to provide at least 80 per cent cash dividend last year but the allowed only 20 per cent. The company’s directors either want to give stock dividends or keep the profits although it already has a reserve of more than Tk 700 crore.

Source: https://www.thedailystar.net/business/news/stingy-listed-companies-sap-investor-spirit-1858999

Travel tax goes online in three land ports

The National Board of Revenue (NBR) has launched the procedure for online submission of travel tax in Benapole, Darshana and Bhomra land ports. Benapole port is in Jashore district, Darshana in Chuadanga and Bhomra in Satkhira. Outbound tourists to India, Bhutan, Nepal and Myanmar by road now can pay tax through debit or credit card, mobile financial services or Sonali Bank accounts. The NBR earned Tk 11.04 billion in travel tax in fiscal year (FY) 2018-19. Collection slipped by almost 8.0 per cent last fiscal despite a surge in the number of outbound passengers. The receipt missed the target of Tk 14.11 billion for FY 2018-19. Of the total tax, Tk 1.2 billion was earned from outbound tourists against 2.4 million tourists by land.

Source: https://today.thefinancialexpress.com.bd/trade-market/travel-tax-goes-online-in-three-land-ports-1579964346

Annual Branch Managers’ Conference of SBAC 2020

Chairman of South Bangla Agriculture and Commerce (SBAC) Bank Limited S M Amzad Hossain spoke as the chief guest after inaugurating the bank’s Annual Branch Managers’ Conference 2020 at a city hotel on Saturday. Managing Director and CEO of the bank Md Golam Faruque presided over the conference.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/chairman-of-south-bangla-agriculture-and-commerce-sbac-bank-limited-s-m-amzad-hossain-1579965618

State Bank of India’s (SBI) 45 years of presence in Bangladesh

Finance Minister A. H. M. Mustafa Kamal and High Commissioner of India to Bangladesh Riva Ganguly Das inaugurating a programme in Dhaka recently, marking State Bank of India’s (SBI) 45 years of presence in Bangladesh. SBI’s Managing Director (Global Banking & Subsidiaries) Dinesh Kumar Khara, DMD C. Venkat Nageswar, Chief General Manager of International Banking Group BRS Satyanarayana and Country Head of Bangladesh Operations Dr. P. C. Saboo were also present.

Source: https://today.thefinancialexpress.com.bd/trade-market/finance-minister-a-h-m-mustafa-kamal-2nd-from-r-front-row-and-high-commissioner-of-india-to-bangladesh-riva-ganguly-1579963976

Sub-branch banking services of NRB Commercial Bank Ltd

Jatiya Sangsad (Parliament) Chief Whip Noor-E-Alam Chowdhury launching sub-branch banking services of NRB Commercial Bank Ltd at Khalifa Potty under Shibchar upazila of Madaripur on Saturday with NRBC Bank Chairman S M Parvez Tamal and others present.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/jatiya-sangsad-parliament-chief-whip-noor-e-alam-chowdhury-3rd-from-l-launching-sub-branch-banking-services-of-nrb-1579965552

A buoyant week in DSE

Investor sentiment remained upbeat from the raft of positive developments last week. A capital market monitoring committee prepared a work plan to prop up the ailing bourse.


Source: https://www.thedailystar.net/business/news/buoyant-week-dse-1858996

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DSEX4,513.89↑ 73.59↑ 1.66 %
↓ 170.36↓ 0.58 %
FTSE1007,585.98↑ 78.31↑ 1.04 %
Nikkei 22523,827.18↑ 31.74↑ 0.13 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 54.19↓ 1.40↓ 2.52 %
Crude Oil (Brent)$ 60.69↓ 1.35↓ 2.18 %
Gold Spot$ 1,571.53↑ 8.59↑ 0.55 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 83.2570
GBP 1BDT 108.775
EUR 1BDT 91.7675
INR 1BDT 1.16659





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