Dhaka Bank observes 25th anniversary
Dhaka Bank Limited on Sunday observed its 25 years of banking excellence in a simple way considering the current ongoing pandemic COVID-19 situation in Bangladesh. A Doa Mahfil was arranged by maintaining social distance and safe hygiene rules at proposed Head Office, Gulshan. Dhaka Bank Gulshan Corporate Branch was also inaugurated on the occasion. Apart from them, former directors Mr. Khandaker Mohammad Shahjahan; Mr. Emranul Huq, Managing Director & CEO of the Bank with minimum number of employees were also present at the program. The Chairman of the Bank in his speech conveyed homage to the Father of the Nation Bangabondhu Sheikh Mujibur Rahman in his Centenary Birthday. He also discussed on different issues of Bangladesh economy and the Bank.
Another Indo-Bangla river trade route to start in three months
Construction of a floating jetty at Sonamura in Indian state of Tripura was completed in just three weeks, according to reports by India-based web portals. According to officials, the construction of the makeshift jetty was done on war footing. It is a floating jetty and around 700 plastic boxes have been used to build it. Paving the way for small vessels to ply between Sonamura and Daudkandi of Bangladesh, the jetty is expected to put Sonamura on the map for Indo-Bangladesh Protocol Route. With 54 shared rivers India and Bangladesh have significant possibilities to harness the trade and economic benefits of inland waterways. The extension of the routes and new ports should open up the waterways to smaller traders bringing agricultural goods and other materials between Bangladesh and India’s landlocked northeastern states. Cross border river trade between the two countries is governed by the PIWTT, first signed in 1972. The subsequent addendums in 2018 and 2020 have included new ports of call and routes. During 2018-2019 India exported about 2.4 million tonnes of cargo to Bangladesh through Protocol Routes. Out of this, 97 per cent comprises fly ash – toxic residue left over from burning coal – and the rest included steel cargo, steel coil/rail and stone chips.
Trade resumes through Benapole port
India finally agreed to accept Bangladeshi export goods and as a result the import-export trade resumed through Benapole port at 7 pm on Sunday. After a fruitful meeting of the customs, ports and trade associations of the two countries in the afternoon, the import-export trade started in full swing. Five truckloads of goods have been exported from Bangladesh to India and another five truck loads of goods have been imported from India to Bangladesh. As a result, the port returned to normal as before. Five organisations using Benapole port had been blocking the entry of Indian imported goods into Bangladesh since last Wednesday in protest against not allowing Bangladeshi export goods to enter India.
BD plans to revive jute sector under PPP
The government’s plans to revitalise the flagging jute sector through public-private partnerships have been met with scepticism from stakeholders in the industry, reports bdnews24.com. It came after the government announced the decision to shut production at all state-owned jute mills and transition to the PPP model in a bid to modernise the sector. However, many exporters and traders believe the industry’s fortunes could have been turned around without closing the mills down. Others said the plans to run the mills under PPPs are unlikely to be successful in the current climate. The government can modernise the state-owned jute mills without bringing them under the purview of PPP, according to Abdul Barik Khan, secretary-general of Bangladesh Jute Mills Association. .
Local and Global Stock Indices *
|Index Name||Close Value||Value Change||Percentage Change|
|DSEX||3,981.52236||↑ 5.21||↑ 0.013|
|↑ 92.39||↑ 0.36 %|
|Nikkei 225||$ 22,689.91||↑ 383.43||↑ 1.72 %|
World Commodities *
|Commodity||Close Value||Value Change||Percentage Change|
|Crude Oil (WTI)||$ 40.46 ||↓ 0.19||↓ 0.47 %|
|Crude Oil (Brent)||$ 43.04||↑ 0.24||↑ 0.56 %|
|Gold Spot||$ 1,772.86||↑ 0.81||↑ 0.05 %|
Major Currencies Exchange Rates Movement in Last Seven Days *
|USD 1||BDT 83.2852|
|GBP 1||BDT 103.891|
|EUR 1||BDT 93.6404|
|INR 1||BDT 1.11747|
*CURRENCIES AND COMMODITIES ARE TAKEN FROM BLOOMBERG.<