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 Jun 11, 2019

Export earnings hit record $3.8b in May

Bangladesh’s exports fetched $3.81 billion in May this year, which was the single-month highest in the country’s history riding on the good performance of readymade garment products. Earlier, the monthly highest earnings were recorded in October last year with the exports worth $3.71 billion. Export earnings in May this year increased by 14.78 per cent from $3.32 billion in the same month of last year, which is 9.23 per cent higher than the target of $3.49 billion set by the government, according to the Export Promotion Bureau. Exporters said that export earnings in May reached a record high as RMG manufacturers made an increased number of shipments in the month to avoid missing deadline of export due to long Eid holidays in June. The overall export earnings in July-May period of the current financial year (2018-19) grew by 11.92 per cent to $37.75 billion from $33.72 billion in the same period of FY18.

Source: http://www.newagebd.net/article/74913/export-earnings-hit-record-38b-in-may

Plastic goods to grab bigger share in global market

The plastic goods sector, which has tremendous potential to capture a chunk of the global market, will flourish further if a specialised industrial zone and modern recycling system could be established for producing environment-friendly products, according to Business insiders. The country’s plastic goods industry is booming due to availability of raw materials at a cheaper rate, government policy support, manufacturing efficiency and production of diversified goods, they said. Besides, China has moved towards high-tech industries, creating a massive chance for Bangladeshi plastic goods exporters to raise their share in the global market for plastics, expected to reach USD 721.14 billion by 2025, according to a new report by Grand View Research, Inc. According to the latest statistics of the Export Promotion Bureau, the export earnings from plastic products in the first 10 months of the current fiscal increased by 23.6 per cent over the corresponding figure during the last fiscal.

Source: http://www.newagebd.net/article/74960/plastic-goods-manufacturers-eye-bigger-share-in-global-market

Tax holiday may continue for infrastructure, industries

The government is likely to extend the tax exemption benefit on income from investment in infrastructure and industries in lagging regions for five years to encourage private investment and job creation. The move to continue the facility up to June 2024 is being considered as the existing offer expires on June 30. According to a senior official of Finance Ministry, tax holiday benefit is likely to continue in modified form to encourage investment. Private investment has been hovering between 22 and 23.4 percent of the gross domestic product (GDP) for the last several years for reasons such as inadequate infrastructure and poor investment climate. It rose by only 1.37 percentage points since 2013-14 when it was 22.03 percent, according to Bangladesh Bureau of Statistics.

Source: https://www.thedailystar.net/business/news/tax-holiday-may-continue-infrastructure-industries-1755142

Tk 100cr fund for budding Entrepreneurs

The government is set to create a Tk 100 crore fund for start-ups as it looks to alleviate youth unemployment, which is progressively becoming an albatross for the country. More than 20.1 million youths aged 15-29 participated in the labour force, according to the Labour Force Survey 2016-17. Of them, 2.1 million were unemployed. Then another 29 percent of the 41.4 million of 15-29 year-olds were not in education, employment or training. In short, the number of unemployed, especially the number of educated unemployed youths, is on the rise in the country as the government can hardly manage jobs for them. On the other hand, new Business opportunities have sprung up in both private and public sectors because of advancement in technologies.

Source: https://www.thedailystar.net/business/news/tk-100cr-fund-budding-entrepreneurs-1755163

Dhaka stocks rise for 7th day on budget hopes

Dhaka stocks advanced for the seventh session on Monday with a rise in the investors’ participation amid hopes of budgetary measures friendly to the capital market. DSEX, the key index of Dhaka Stock Exchange, gained 0.53 per cent, or 28.62 points, to close at 5,431.59 points Monday. The index gained 179 points in last seven sessions, ahead of the national budget to be announced by Finance Minister AHM Mustafa Kamal in parliament on Thursday. In line with the previous day’s trend, DSEX started gaining from the very beginning on Monday but it went negative after two hours of trading as some investors went for profit taking the opportunity of last few days’ gain.

Source: http://www.newagebd.net/article/74915/dhaka-stocks-rise-for-7th-day-on-budget-hopes

External Debt: Repayment to hit record high

Bangladesh is going for a record amount in external debt repayment this fiscal year, putting pressure on the almost stagnant foreign currency reserves and tightening market conditions. The Economic Relations Division data shows that the government has paid $1.34 billion to external lenders in the first 10 months till April of the outgoing fiscal year, up by 14.4 percent than what was paid over the corresponding period a year ago. Bangladesh repaid $1.2 billion to its external lenders in fiscal 2017-18, according to the latest report on “Flow of External Resources into Bangladesh” compiled by the ERD. Since independence, the country’s foreign borrowing has been $51.83 billion till June 30, 2018. The government repaid $21.98 billion and the outstanding debt stood at $39.58 billion till April this year.

Source: https://www.thedailystar.net/frontpage/news/external-debt-repayment-hit-record-high-1755166

Novartis gets new country CFO

Fahmid Wasik Ali has recently been appointed country Chief Financial Officer of Novartis (Bangladesh). He will also act as finance director and Company secretary in the Company’s Board of Directors. Mr. Ali joined Novartis in 2006, serving most recently as the CFO of the pharmaceuticals division.

Source: https://www.thedailystar.net/business/news/novartis-gets-new-country-cfo-1755109

bKash payment now available for Piickme services

bKash Limited, the largest mobile financial service provider in the country has signed an agreement with Piickme Limited, a fast growing app based on-demand ride hailing platform. This will allow passengers to pay through bKash while taking a ride. Mizanur Rashid, Chief Commercial Officer, bKash Limited and Omar Ali, Chief Executive Officer, Piickme Limited exchanged document on behalf of their respective organisations.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/bkash-payment-now-available-for-piickme-services-1560181423

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DSEX5,431.59562 ↑28.62728 ↑0.53%
DJIA26,062.68 ↑78.74↑0.30%
Nikkei 225 21,162.52 ↑28.10↑0.13%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 53.47↑0.21↑0.39%
Crude Oil (Brent) $ 62.41↑0.12↑0.19%
Gold Spot $1,328.52↑0.54↑0.04%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 82.6338
GBP 1BDT 104.8970
EUR 1BDT 93.4560
INR 1BDT 1.1883





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