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 04, 2019

EU-Vietnam FTA to hit BD foreign trade hard

According to the Analysts, Bangladesh is likely to face a severe blow to its foreign trade, as its competitor country Vietnam signed a free-trade agreement (FTA) with the European Union (EU) on Sunday. The EU signed the free-trade deal with Vietnam on June 30, paving the way for tariff reduction on 99 per cent of goods, traded between the bloc and the Southeast Asian country. After a long three-and-a-half years of negotiation, the agreement was signed in Hanoi between EU Trade Commissioner Cecilia Malmstrom and Vietnam’s Minister of Industry and Trade Tran Tuan Anh. The trade deal of the EU, the first of its kind with a developing country in Asia, will be effective after approval of the European Parliament.

Source: http://today.thefinancialexpress.com.bd/first-page/eu-vietnam-fta-to-hit-bd-foreign-trade-hard-1562175810

Private credit growth falling trend

Private sector credit growth edged up in May after sliding since October last year but it is still well below the Central Bank’s target for the second half of fiscal 2018-19. In May, credit growth stood at 12.16 percent, up from 12.07 percent a month earlier. But the credit growth is still 4.34 percentage points less than the Central Bank’s target of 16.50 percent for the second half of the just concluded fiscal year. The increase is insignificant and there is no possibility to escalate the growth in the upcoming months given the ongoing liquidity crunch in the Banking sector, said Economists and Bankers. In the last two fiscal years, private sector credit growth hovered between 16 percent and 18 percent, only to dip at the turn of fiscal 2018-19. The credit growth will not get a boost if the deposit growth does not get a momentum, said Ahsan H Mansur, Executive Director of Policy Research Institute.

Source: https://www.thedailystar.net/business/news/private-credit-bucks-falling-trend-1766386

Businesses must update e-BINs by July 31: NBR

Businesses will have to update their information with the VAT online system database by July 31 to keep their online Business identification numbers (e-BINs) active. Officials of the National Board of Revenue said that Businesses, which had already obtained nine-digit e-BINs, commonly known as VAT registration number, must update their information in line with amended value-added tax rules to continue their Business operations and VAT-related activities. The move would also help the VAT authorities exclude fake BINs taken by unscrupulous Businesses by providing wrong information. VAT Online Project (VOP) will deactivate a BIN if the BIN-holder fails to update information by the deadline, Official added. According to the VOP, more than 1.71 lakh businesses have so far obtained e-BINs from the online system.

Source: http://www.newagebd.net/article/77348/businesses-must-update-e-bins-by-july-31-nbr

Growing SoE losses to put Govt Banks under pressure

The State-owned Enterprises that suffered Tk 4,155.53 crore losses in the just- concluded fiscal year due largely to mismanagement will continue their losing streak in the new fiscal year keeping the government Banks under pressure. The loss of the 49 SoEs has been projected to be Tk 5,350.23 crore in 2019-20 by the Finance Division in a budget document, for which experts fear that the liquidity crunch in the cash-strapped State-owned Banks might worsen in the new fiscal year beginning July 1. Centre for Policy Dialogue distinguished fellow Mustafizur Rahman pointed out that continued losses did not enable them to pay back their loans they took from the State-owned Banks. Losses of the SoEs forced the government to provide them with bailout in the form of fresh loans and subsidies, he added.

Source: http://www.newagebd.net/article/77392/growing-soe-losses-to-put-govt-banks-under-pressure

German logistics firm opens Bangladesh subsidiary

Schenker (Asia Pacific) Pte, a subsidiary of DB Schenker, the transport and logistics division of Deutsche Bahn Group, has expanded its presence in the Indian subcontinent with the launch of a new subsidiary in Bangladesh. The German Company has been delivering logistics services to its customers in Bangladesh since 2007 through an exclusive network partner. With effect from June 26 this year, Schenker Logistics (Bangladesh) is fully operational as a local entity under the global freight forwarder’s India cluster organisation. The new Bangladesh subsidiary is now part of the global DB Schenker network, with 2,000 locations in more than 130 countries. “As one of the priority markets for our Indian subcontinent, the move to establish our own entity in Bangladesh will greatly enhance DB Schenker’s service portfolio in the subcontinent,” said Jochen Thewes, Chief Executive Officer of DB Schenker.

Source: https://www.thedailystar.net/business/telecom/news/german-logistics-firm-opens-bangladesh-subsidiary-1766350

CMC aims to make anti-venom locally

A research team, for the first time in Bangladesh, is studying native snake species aiming at mass-scale production of effective anti-venom for local patients. As part of the initiative, they are rearing and hatching poisonous snakes in a laboratory of the Venom Research Centre, being operated by the medicine department at Chitta-gong Medical College (CMC). The researchers would collect venoms from the snakes, analyse their properties, and develop techniques to produce the antidote. If the sample anti-venom meet the WHO standards, the government would go for mass production.

Source: https://www.thedailystar.net/backpage/news/antivenom-cmc-eying-made-bangladesh-1766485

Monzur Mofiz joins ONE Bank as AMD

Md. Monzur Mofiz has joined ONE Bank Limited as its Additional Managing Director (AMD) with effect from July 01. Prior to his new assignment, Mr. Monzur was the Deputy Managing Director and Chief Business Officer of Dutch-Bangla Bank Ltd.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/monzur-mofiz-joins-one-bank-as-amd-1562174869

BAJUS raises gold price by Tk 175 per gram

Gold price in the local market has been increased by Tk 175 per gram, following a hike in international market. The new price of per gram 22-carat gold has been fixed at Tk 4,475 from previous rate, According to Bangladesh Jewellers’ Samity (BAJUS). The new prices of the expensive metal will be effective from today (Thursday), according to the statement, signed by the BAJUS’s general secretary Dilip Kumar Agarwala.

Source: http://today.thefinancialexpress.com.bd/trade-market/bajus-raises-gold-price-by-tk-175-per-gram-1562175315

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
Nikkei 225 21,696.94↑58.78↑0.27%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 57.03↓0.31↓0.54%
Crude Oil (Brent)$ 63.43↓0.39↓0.61%
Gold Spot $1,420.44 ↑1.66 ↑0.12%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 82.9306
GBP 1BDT 104.3110
EUR 1BDT 93.5875
INR 1BDT 1.2043





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