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 29, 2019

BB to unveil MPS on Wednesday

The Bangladesh Bank will unveil its Monetary Policy Statement (MPS) for the first half of the current fiscal year (2019-20) on Wednesday. “BB Governor Fazle Kabir will unveil the MPS at 11.30am (on Wednesday) at a press conference at the Central Bank headquarters in Motijheel in Dhaka,” said a BB press release on Sunday. Earlier, a senior official of the Central Bank said the MPS would be announced on the basis of the national budget for the 2019-20 financial year and the fiscal policy directions. Like previous fiscal, the Central Bank will maintain its cautionary stance in the new MPS, he added.

Source: https://thefinancialexpress.com.bd/economy/bb-to-unveil-mps-on-wednesday-1564322903

BFIDC to set up Factory in Ctg to Export Furniture

A move is underway to set up a state-of-the-art export-oriented furniture factory in the country with Saudi investment, officials said. The factory will be set up at Kalurghat in Chattogram on a land of the Bangladesh Forest Industries Development Corporation (BFIDC) under the Ministry of Environment, Forest and Climate Change. “A memorandum of understanding (MoU) will be signed today (Monday) between the BFIDC and the ED Engineering of Saudi Arabia for setting up the furniture factory,” a high official said. The BFIDC will supply raw materials from its rubber gardens for manufacturing modern furniture in the plant. The BFIDC has 17 rubber gardens on 36,654 acres of land in Chattogram, Sylhet, Tangail and Sherpur districts. Usually a rubber tree maintains its usefulness for at least 25 years, and after that period it gradually losses capacity for rubber production, according to the official. Rubber trees of the BFIDC’s gardens that have already lost their economic life expectancy will be used for making different types of furniture in the factory.

Source: http://today.thefinancialexpress.com.bd/trade-market/bfidc-to-set-up-factory-in-ctg-to-export-furniture-1564332200

Export of Plastic Products rises as new markets emerge

Shipments of plastic products rose 22 percent year-on-year to $120 million in fiscal 2018-19, something manufacturers and traders attribute to the emergence of new export destinations. In fiscal 2017-18, the export had seen a 16 percent year-on-year drop when China stopped importing PET (polyethylene terephthalate) bottle scrap, according to the Export Promotion Bureau. “New buyers are coming from Europe, particularly Germany-based supermarkets which source household plastic products from Bangladesh, aiding the export rise,” he said. German buyers used to place orders with Chinese manufacturers but now they are sourcing from Bangladesh to avail cheaper, quality products, said Md Jashim Uddin, president of the Bangladesh Plastic Goods Manufacturers and Exporters Association.

Source: https://www.thedailystar.net/business/news/export-plastic-products-rises-new-markets-emerge-1778539

Teletalk to take LG’s billion-dollar loan

The government has decided to take a billion-dollar loan from Korean Company LG U+ for expanding Teletalk’s network coverage and making the State-run operator’s infrastructure 5G compatible. The Korean Company has offered $1.2 billion as loan last year and the proposal was placed before Prime Minister’s ICT Affairs Adviser Sajeeb Wazed Joy in a meeting recently, where he gave the green signal, according to officials working on the matter. Teletalk has only 48 percent network coverage while its competitors have covered more than double the geographical areas, said Telecom Minister Mustafa Jabbar. “We can’t compete with anyone with this coverage.” To bring Teletalk up to speed with the other operators a huge amount of investment is needed. “And LG’s offer for Teletalk is a good option. They have offered $1.2 billion but I don’t think we need that much as Teletalk does not build any tower.”

Source: https://www.thedailystar.net/business/news/teletalk-take-lgs-billion-dollar-loan-1778545

Stocks end flat after volatile trading

Stocks closed flat on Sunday after choppy trading as investors were active on both sides of the trading fence amid ongoing volatile market situation. Market analysts said some investors collected sector-specific stocks considering favourable price level while some others rebalanced their portfolios ahead of earnings declaration, taking the market into flat zone. The regulatory interventions such as confirming legal authorisation before placing of any sale order and the Central Bank’s move to support the flagging market have halted the recent sharp decline, said a leading broker. The market opened on a positive note on the day and the key index rose about 27 points within 10 minutes of trading. But selling pressure eroded the early gains as the session progressed. At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), settled at 5,134, registering a fractional gain of 0.68 point.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/stocks-end-flat-after-volatile-trading-1564331438

Server problem hits BIN opening before deadline

Businesses are struggling to get new electronic business identification numbers (BINs) by updating their information due to problems in the server of the VAT Online Project. They are doubtful about obtaining new BINs on time as the deadline for updating information and receiving new BINs, commonly known as VAT registration number, is set to expire on July 31. Many businesspeople through the social media are urging the National Board of Revenue to extend further the deadline so that they can get the e-BINs for filing their VAT returns in August. VOP in early July asked the businesses to update their information with the VAT online system database by July 31 to keep their e-BINs active and traders will not be able to run export and import activities without the updated BINs as all old BINs will be locked in the customs Asycuda World System on August 1.

Source: http://www.newagebd.net/article/79970/server-problem-hits-bin-opening-before-deadline

UCB signs deal with Novoair

The United Commercial Bank Limited (UCB) has signed an agreement with Novoair on the Bank premises recently. Under the agreement, All UCB Credit & Debit Cardholders will enjoy 10 per cent discount on base fare of domestic and International tickets, says a statement. Nehal A Huda, Head of Cards of United Commercial Bank Limited, and Mesbah-ul-Islam, Head of Marketing & Sales of Novoair, have signed the agreement on behalf of their respective organisations.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/ucb-signs-deal-with-novoair-1564331587

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
FTSE100 7,549.06↑60.01↑0.80%
Nikkei 22521,543.98 ↓114.17 ↓0.53%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI) $ 56.07↓0.13↓0.23%
Crude Oil (Brent) $ 63.21↓0.25↓0.39%
Gold Spot $1,422.34↑3.44↑0.24%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 82.8359
GBP 1BDT 102.5260
EUR 1BDT 92.1445
INR 1BDT 1.2019





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