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 Jul 02, 2019

Trade with China trebles in a decade

Bilateral trade between Bangladesh and China trebled to nearly $12 billion in the past decade thanks to the soaring imports by Industrialists and Businesses. Trade between the two nations, which was $3.51 billion in 2008-09, rose to $12.38 billion in 2017-18. And in the first nine months of the just concluded fiscal year trade stood at about $11 billion, with the balance heavily tilted towards China, according to data compiled by Federation of Bangladesh Chambers of Commerce and Industry (FBCCI). The data showed that import from China has been increasing gradually while shipment to the world’s second biggest economy have been hovering below $1 billion for the last several years. Analysts and Entrepreneurs said Bangladesh gets duty-free access for nearly 5,000 items but Businesses cannot take full advantage of the opportunity owing to the country’s small export basket.

Source: https://www.thedailystar.net/business/news/trade-china-trebles-decade-1765534  

MoC issues guidelines on RMG subcontracting

Subcontracting readymade garment (RMG) factories, under an official guideline issued recently, are now required to take mandatory membership of their respective apex trade bodies for doing business, according to official. Besides, they are also required to put in place safety measures required for the workers and for other purposes, they have added. The Ministry of Commerce (MoC) finalised its set of guidelines for the subcontracting units after more than six years. The MoC issued a circular in this connection on May 27 last mainly to implement the National Tripartite Plan of Action (NTP) on Fire Safety and Structural Integrity in the RMG sector in Bangladesh and to ensure transparency in the subcontracting system and accountability. Following a fire incident at a subcontracting factory, namely Tazreen Fashion Limited, killing more than 112 garment workers, pressure built on bringing the subcontracting activities under a legal cover by formulating guidelines to protect the interest of workers.

Source: http://today.thefinancialexpress.com.bd/first-page/moc-issues-guidelines-on-rmg-subcontracting-1562004000  

Banks’ operating profit rises despite liquidity crisis

Most of the private banks saw their operating profits edge up in the first half of the year despite the ongoing liquidity crisis and a decline in credit growth. The Daily Star obtained data of 23 banks and all of them posted growth in operating profit — which is the profit before deduction of taxes and setting aside provisioning for loans — ranging from 2 percent to 120 percent. Of them, Islami Bank Bangladesh, which is the largest private sector Bank, posted the highest operating profit of Tk 1,223 crore in the six months to June, up 19.78 percent year-on-year. City Bank reported a 39 percent jump in operating profit to Tk 371 crore between the months of January and June as it concentrated on mobilising low-cost deposits and expanding its trade finance Business.

Source: https://www.thedailystar.net/business/news/banks-operating-profit-rises-despite-liquidity-crisis-1765531

MFS transactions hit record high

Transactions through the mobile financial service platform hit a record Tk 42,236.23 crore in May as discounts offered by the major MFS providers to tempt Eid shoppers to pay through their channel appear to have worked. The amount is an increase of 20.8 percent from the previous month, according to data from the Bangladesh Bank. “Eid has surely been a big factor behind the spike in transactions but there were few other factors as well,” said Sheikh Md Monirul Islam, Chief external and corporate affairs officer at bKash. The Central Bank’s move in May to increase the MFS transaction limits also seemed to have helped log in the highest number for a single month, said Md Serajul Islam, spokesperson of the BB.

Source: https://www.thedailystar.net/business/news/mfs-transactions-hit-record-high-1765525  

Gas price hike to hit manufacturing sector hard: Business Leaders

Business leaders on Monday strongly opposed the latest gas price hike and said that the jump in gas tariff would hurt the country’s manufacturing sector and the sector’s productivity would fall. They said that the country’s export sector would lose its competitiveness in the global market as a high jump in gas tariff would increase production cost. The government on Sunday raised the price of gas for captive power generators to Tk 13.85 per cubic metre from Tk 9.62, and for industries Tk 10.70 per cubic metre from Tk 7.76. The Bangladesh Energy Regulatory Commission said that the price had to be increased as country’s gas generation, distribution and transmission companies called for it because of a rise in gas production price due to import of liquefied natural gas

Source: http://www.newagebd.net/article/77192/gas-price-hike-to-hit-manufacturing-sector-hard-businesses

BEZA Chief’s Contract extended

The tenure of Executive Chairman of the Bangladesh Economic Zones Authority (BEZA) Paban Chowdhury has been extended for next two years more. Mr. Paban joined as the Executive Chairman at BEZA on June 30, 2014. Later, he was appointed on a contractual basis at the same position on June 28, 2017.

Source: http://www.newagebd.net/article/77198/beza-chief-paban-chys-contract-extended  

Bengal Cement begins journey   

Bengal Cement Limited officially started its journey to uphold “Strength with durability”, as the newest subsidiary of the renowned business conglomerates in Bangladesh. With the vision of meeting the growing demand of infrastructure development sector in Bangladesh and delivering high quality standard cement to the customers, Bengal Cement made the debut with a Gala Event at International Convention City Bashundhara (ICCB), recently.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/bengal-cement-begins-journey-1562002678  

PKSF gets new Managing Director

Mohammad Moinuddin Abdullah has recently joined the government established development organisation Palli Karma-Sahayak Foundation (PKSF) as Managing Director for a three-year term. He is also a former senior secretary of the agriculture ministry.

Source: https://www.thedailystar.net/business/news/pksf-gets-new-managing-director-1765483

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DSEX5,421.62460↓8.42447 ↓0.16%
Nikkei 225 21,748.8↑18.83↑0.09%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 58.87↓0.22↓0.37%
Crude Oil (Brent)$ 64.93↓0.13↓0.20%
Gold Spot $1,390.04 ↓5.85↓0.42%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 83.1054
GBP 1BDT 105.2010
EUR 1BDT 94.0854
INR 1BDT 1.2044





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