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 30, 2019

Powdered milk Imports soar on rising demand

Powdered milk imports are spiralling on the back of increased demand from a section of consumers on health concerns related to locally produced liquid milk and higher use by sweetmeat, confectionery and ice cream makers, said industry operators. In the first five months of the year, milk and cream imports rose 23 percent year-on-year to 75,881 tonnes, according to data from the Bangladesh Bureau of Statistics (BBS). The BBS data reveals that import growth of milk and cream in 2018 was 19 percent. Milk consumption is increasing as people’s disposable income is on the rise on the back of steady growth of the economy, said a senior official of consumer goods division of Abul Khair Group, which sells the Marks brand powdered milk.

Source: https://www.thedailystar.net/business/news/powdered-milk-imports-soar-rising-demand-1778992

Private ICDs to hike tariffs from August 1

Private Inland Container Depots (ICDs) are set to increase their charges for handling consignments by 20-25 percent, in a development that will raise the cost for importers and exporters by more than Tk 100 crore annually. Almost 90 percent of the total export goods are stuffed into containers at the 19 private ICDs, also known as off-docks, located in and around the port city, before shipment through the Chattogram port, while 21 percent of the import containers are sent from the port to the ICDs, from where the import goods are delivered. Besides, the import containers that become empty after the goods are delivered directly from the port are also sent to the ICDs for storing for a particular time. The 19 ICDs handled around 6.15 lakh TEUs (twenty -foot equivalent units) of export containers, 2.86 lakh TEUs import containers and 5.87 lakh TEUs empty containers in 2018-2019 fiscal year.

Source: https://www.thedailystar.net/business/news/private-icds-hike-tariffs-august-1-1778968

Monetary Policy to beef up Capital Market

The Central Bank is set to unveil its first half-yearly (H1) monetary policy for the current fiscal year, 2019-20, on Wednesday, with the policy rates likely to remain unchanged. The monetary instrument is also expected to continue its policy support for the country’s moribund stock market. Bangladesh Bank (BB) governor Fazle Kabir will announce the monetary policy statement (MPS) for the July-December period of the FY 2020 aimed at achieving sustainable economic growth by curbing inflationary pressures on the economy. The policy rates, including CRR (cash reserve requirement), SLR (statutory liquidity ratio), Repo and Reverse Repo, may remain unchanged for H1 of FY’20, according to Central Bank officials. As part of the strategy, the BB is likely to focus on boosting loans for micro, small and medium enterprises (MSMEs) and the agriculture sector along with microcredit to help create job opportunities across the country.

Source: https://thefinancialexpress.com.bd/stock/monetary-policy-to-beef-up-capital-market-1564372206

City Bank to issue Tk 4.0 billion Perpetual Bonds

The Board of Directors of the City Bank Limited has decided to raise Tk 4.0 billion through issuance of perpetual bonds.The City Bank will issue the bonds for raising fund to meet capital requirement under Basel III and to strengthen the regulatory capital base of the Bank in line with the Bangladesh Bank guideline on risk based capital adequacy dated December 2014. The issuance of bond is subject to approval from the concerned authorities — Bangladesh Bank (BB) and Bangladesh Securities and Exchange Commission (BSEC) and complying with regulatory requirements. Each share of the bank, which was listed on the Dhaka Stock Exchange in 1986, traded between Tk 26.9 and Tk 27.5, before closing at Tk 27.30 on Sunday at Dhaka Stock Exchange (DSE).

Source: https://thefinancialexpress.com.bd/stock/city-bank-to-issue-tk-40-billion-perpetual-bonds-1564379750

5% Tax at source for all Savings Certificate up to Tk 5 lac

Finance Minister AHM Mustafa Kamal has stepped back from his budget decision to increase the source tax on all national savings instruments to 10 percent, considering that the hike would add more burden on the fixed income groups. Now, savings certificates (Sanchayapatra) up to Tk 5 lakh would incur 5 percent tax at source instead of 10 percent. However, savings instruments over Tk 5 lakh will incur 10 percent tax at source. The decision will be applied retrospectively from July 1, he said. Currently, the Department of National Savings is offering four saving schemes — 5-Years Bangladesh Sanchayapatra, 3-Monthly Profit Bearing Sanchayapatra, Family Savings Certificate, and Pensioner Sanchayapatra. Minister said saving instruments were introduced for the poor people, but some rich people are taking unfair advantage by abusing the opportunities and purchasing saving instruments in different names. Asked if the government had any plan to lift the ceiling of Tk 5 lakh, the minister said they will review the matter in future.

Source: https://www.thedailystar.net/backpage/news/savings-instrument-tax-source-be-slashed-back-5pc-1778875

NBR asks Customs Houses to speed up release of imported goods

The National Board of Revenue (NBR) has asked customs houses to speed up customs formalities and release of imported goods — especially key essential commodities — on priority basis to ensure smooth supply ahead of Eid-ul-Azha. It also instructed the officials concerned not to leave their workplaces without completing discharge of goods, and to do their duties extra hours if necessary. The commissioners concerned will monitor the progress carefully, and will inform the NBR on daily basis till Eid-ul-Azha. The revenue regulator of the country issued the directive on Thursday responding to the request of traders to ensure speedy release of imported onion-laden vehicles.

Source: https://thefinancialexpress.com.bd/trade/nbr-asks-customs-houses-to-speed-up-release-of-imported-goods-1564375297

Farmers opting for Avocado cultivation

Farming of avocado, a fruit enriched with various vitamins and containing medicinal quality to resist various diseases, is gaining popularity in Rajshahi and Chapainawabganj. In addition to mango, avocado might also emerge as a prominent fruit with numerous health benefits in the districts in near future, said officials at the Horticulture Centre and the Department of Agriculture in Rajshahi. According to agro-scientists at the Regional Horticulture Centre, Rajshahi, the American-bred fruit has matchless taste and nutrients. The fruit can easily be cultivated in the country. Since avocado has a good demand and high price in the local market, farmers are being gradually interested to cultivate it.

Source: http://today.thefinancialexpress.com.bd/country/farmers-opting-for-avocado-cultivation-in-rajshahi-chapainawabganj-1564409877

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA 27,221.35
FTSE100 7,686.61↑137.55↑1.82%
Nikkei 22521,764.00 ↑147.20 ↑0.68%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI) $ 57.20↑0.33↑0.58%
Crude Oil (Brent) $ 64.06↑0.35↑0.55%
Gold Spot $1,423.78↓3.02↓0.21%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 82.8718
GBP 1BDT 101.8680
EUR 1BDT 92.2531
INR 1BDT 1.2046





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