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

Click to Close

Rate last updated: 02/01/2014 11:15:04 AM

Important Business News Extracts July 30, 2018

Bank stocks dive 28.5pc in 7 months

The heavyweight banking sector saw a huge decline in its share price and market capitalisation this year due to investors’ lack of confidence in banks. As of yesterday, banks’ share price declined 28.5 percent and market capitalisation Tk 20,730 crore in 2018. The slump caused the banking sector to concede its pole position to telecom. As of yesterday, telecom’s market capitalisation stands at Tk 54,090 crore and the banking sector’s Tk 53,050 crore. The telecom sector also saw its market capitalisation shrink this year but not to the extent of the banking sector. Private sector credit growth stood at 17.60 percent in May, down from 17.65 percent a month earlier, according to the central bank. It was 18.49 percent in February. Of the 30 listed banks, earnings per share of 18 declined and two incurred losses in the first quarter. The non-performing loans of the banking sector are ballooning, which affected the confidence of investors, market insiders said. Banks’ default loans surged 19.51 percent to Tk 74,303 crore in 2017, according to the Bangladesh Bank.

Source: https://www.thedailystar.net/business/bank-stocks-dive-285pc-7-months-1613272

DSEX dips below 5,300-mark

Stocks witnessed yet another bearish session on Sunday with the core index of the major bourse dipping below 5300-mark. Market insiders said some investors continued their selling spree amid ongoing quarterly earnings while many of them followed cautious stance ahead of monetary policy announcement. The market opened on a positive note and the key index of the premier bourse rose about 18 points within first 10 minutes of trading. But, it went down amid marginal volatility during the rest of the session. At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 25 points, or 0.47 per cent, to settle at 5,280. Two other indices of the premier bourse also ended lower. Of those, DS30 index, comprising blue chips, fell 11.74 points to finish at 1,878 and DSE Shariah index shed 11 points to close at 1,248. Turnover, an important indicator of the market, also fell to a six-week low at Tk 5.77 billion, which is 32 per cent lower than the previous session’s Tk 8.55 billion. The market capitalisation of the DSE came down to Tk 3,820 billion on Sunday, which was Tk 3,832 billion in the previous session. Chittagong Stock Exchange (CSE) ended lower with its CSE All Share Price Index – CASPI – losing 107 points to settle at 16,265 and the Selective Categories Index – CSCX – losing 68 points to finish at 9,842.


BB to declare MPS tomorrow, major changes unlikely

Bangladesh Bank is set to announce tomorrow monetary policy for the first half (July-December) of the fiscal year of 2018-2019 with a view to helping the government achieve budgetary growth targets and keeping inflation under control. Keeping inflation under control would be very tough in the first half of the fiscal year ahead of the national polls, expected to be held by the end of 2018, as money flow would increase significantly in the period. Besides, the Awami League-led government ahead of the polls might increase bank borrowing to implement the annual development programme significantly with a view to satisfying people. The overall government borrowing from the banks was slightly negative in FY 2017-18 against the 8.3-per cent growth target set by the BB. The monetary policy statement for the period, however, would also focus on supporting government’s projection to attain 7.8 per cent gross domestic product growth in FY19. In the monetary policy for the second half of FY18, the BB projected to keep the private sector credit growth target within 16.8 per cent. The private sector credit growth, however, posted 16.95 per cent growth in the period. Country’s trade deficit soared by 84 per cent to $17.2 billion in the July-May period of the just concluded fiscal year (2017-2018) as import payments surged past $50 billion in the 11 months. Current account balance also reached negative $9.3 billion in the first 11 months of FY18.The gap in trade balance and current account balance was $9.3 billion and $2.2 billion respectively in the same period of the previous fiscal year (2016-2017).

Source: http://www.newagebd.net/article/47220/bb-to-declare-mps-tomorrow-major-changes-unlikely

Nominal wage growth drops slightly in FY18

Rate of wage increase in the country’s low paid skilled and unskilled labours declined marginally in the past fiscal year. Latest Wage Rate Index (WRI), released by the Bangladesh Bureau of Statistics (BBS), showed that the index in general increased by 6.46 per cent in FY18 while the growth rate was 6.50 per cent in FY17. The WRI measures the movement of nominal wages of low paid skilled and unskilled labour over time in different sectors of the economy. The BBS data also showed that the growth of the WRI, nominal wage to be more realistic, was 6.52 per cent in FY16, which was 4.94 per cent in FY15. It also showed that the growth of nominal wages in both agriculture and service sectors dropped in the past fiscal year while it increased in the industry sector. According to the BBS, wage indices for agriculture and service sectors increased by 6.41 per cent and 6.51 per cent respectively in the past fiscal year, which were 6.59 per cent and 6.60 per cent respectively in FY17.

Source: https://thefinancialexpress.com.bd/economy/bangladesh/nominal-wage-growth-drops-slightly-in-fy18-1532844933

Export to Japan jumps by 11.73pc

Merchandise export to Japan jumped by 11.73 per cent in the past fiscal year, according to the statistics released by Export Promotion Bureau (EPB). It showed that Bangladeshi export to Japan reached $1.13 billion in FY18, which was $1.02 billion in FY17. Currently, Japan is giving the market access to Least Developed Countries (LDCs), including Bangladesh, for 97.90 per cent products. Meat and dairy products, eggs, vegetables and plants, cereals and starch, and other food preparations are not included in the tariff-free product list of Japan. In 2011, the country also extended the effective period of the GSP scheme for 10 years until March 31, 2021. Apparel items cover more than 80 per cent of the total export of Bangladesh.

Source: https://thefinancialexpress.com.bd/trade/export-to-japan-jumps-by-1173pc-1532849070

NBR widens product base for import thru LC stations

The National Board of Revenue has updated the list of products eligible for import from neighbouring India through different land customs stations. Customs wing of the NBR on July 17 issued a statutory regulatory order, adding a good number of products to the list. Due to the update, businesses now will be able to import goods such as readymade garment items, clinker, and spare parts for motorcycle, fly ash, rice, spices and fruits through different land customs stations across the country. The lists of goods for import from Nepal, Bhutan and Myanmar have remained unchanged. According to the SRO, the NBR, in addition to the previously listed products, allowed import of rice, RMG products, spare parts (tyre and others) for motorcycle, wielding rod and dry fish through the Sheola land customs station, soya bean extract, rape seed extract, maize, dry oil rice bran, rice and diesel through Birol (rail route), livestock through Tamabil, and sponge iron, pig iron and clinker through Darshana (rail route). The port restriction on import of fly ash, fresh and dry fruits, fresh vegetables, and various types of spices, imitation jewellery and some other products through the Bhomra land customs station has been withdrawn through the order. The NBR also widened the list of importable products from India through the Banglabanda land customs station. The NBR also withdrew restriction on import of goods which the country exports through various land customs stations.

Source: http://www.newagebd.net/article/47219/nbr-widens-product-base-for-import-thru-lc-stations

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIANo Transaction
FTSE100No Transaction
Nikkei 22522,557.94↓154.81↓0.68%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$68.89↑0.20↑0.29%
Crude Oil (Brent)$74.31↑0.02↑0.03%
Gold Spot$1,220.07↓4.15↓0.34%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 84.2250
GBP 1BDT 110.3769
EUR 1BDT 98.1642
INR 1BDT 1.2252





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