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 24, 2019

Bangladesh, Nepal to use Indian grid for power trade

Energy officials of Nepal and Bangladesh in a secretary level meeting have agreed to use the existing setup of Indian transmission lines to trade power in the short run. The decision came during talks between the two countries. The dedicated transmission line would pass through the Siliguri corridor in India. An agreement was signed to this end by Nepal’s Energy Secretary Dinesh Ghimire and his Bangladeshi counterpart Ahmad Kaikaus during the Joint Steering Committee meeting in Cox’s Bazar on Friday. In line with a Memorandum of Understanding signed by the two countries on “Cooperation in the Field of Power Sector” last August, the authorities have also decided to study the prospect of building dedicated power lines in the long term. Discussions on the use of Indian transmission lines passing through the Siliguri Corridor, also known as “Chicken’s Neck”, emerged in the wake of recent amendments to the cross-border energy trading regulations by India.

Source: https://www.thedailystar.net/backpage/news/bangladesh-nepal-use-indian-grid-power-trade-1761658

Jute refinance fund hiked by Tk 100cr, to run till 2024

Bangladesh Bank on Sunday enhanced the size of the refinance scheme for the jute sector by Tk 100 crore and extended its tenure for another five years. The Central Bank issued a circular in this regard on the day which also reduced the applicable interest rate for the borrowers — jute millers and exporters. Under the new circular, Banks, as like the earlier policy, would get fund from the Central Bank at Bank rate, while the jute millers and exporters would get fund from the refinance scheme at 8 per cent instead of existing 9 per cent. Enhanced size of the revolving fund would become Tk 300 crore. BB launched the refinancing scheme with a fund of Tk 200 crore in 2014 to support jute sector for bringing back its glorious past. After the extension of tenure of the fund, Banks would be able to get fund for the jute sector till June, 2024.

Source: http://www.newagebd.net/article/76311/jute-refinance-fund-hiked-by-tk-100cr-to-run-till-2024

United Power to acquire 75pc stake of Leviathan Global

The board of directors of United Power has decided to acquire 75 per cent – equivalent to 3,00,000 ordinary shares – of Leviathan Global BD Ltd. (LGBDL) at a face value of Tk 10 per share each. Leviathan Global BD is a 50 MW IPP gas-fired power plant having a contract period of 30 years (extendable for further 30 years), built under joint venture with Leviathan Global BD Ltd, USA and United Enterprises & Company Ltd (UECL) respectively. United Enterprises & Company Ltd is a wholly owned subsidiary company of United Power Generation & Distributions Company Ltd. The plant is located at Karnaphuli EPZ (KEPZ) in Chattogram and will be operated under an agreement with Bangladesh Export Processing Zone Authority (BEPZA). Shares will be acquired with effect from 1st July 2019 while the expected Commercial Operation Date (COD) of LGBDL is August, 2019.

Source: https://thefinancialexpress.com.bd/stock/bangladesh/united-power-to-acquire-75pc-stake-of-leviathan-global-1561276351

Prices of 41 Companies up due to rise of institutional investments

Some 41 listed companies saw a rise of institutional investments ranging between 1.0 per cent and 8.0 per cent in May compared to April last, according to information of Dhaka Stock Exchange and Chittagong Stock Exchange. The share prices of these companies also rose up to 41 per cent in May last on the Dhaka Stock Exchange (DSE) following increased institutional investments. Of the companies, Prime Finance & Investment saw the highest rise in institutional stakes, while the City General Insurance Company witnessed the highest price hike of 40.80 per. At the end of May last, the stakes of institutional investments rose to 16.43 per cent at Prime Finance & Investment from 8.66 per cent observed in April. During the period, the company’s share price rose 20.88 per cent to close at Tk 11 each.

Source: https://thefinancialexpress.com.bd/stock/prices-of-41-cos-up-due-to-rise-of-institutional-investments-1561264361

BSEC readies proposals before meeting with NBR Monday

The securities regulator BSEC will submit a set of ‘specific’ proposals to the National Board of Revenue (NBR) tomorrow (Monday) on the measures, including the tax on reserves, in the proposed budget for the fiscal year (FY) 2019-20. Bangladesh Securities and Exchange Commission (BSEC) Chairman Prof M Khairul Hossain said they almost finalised the set of proposals after scrutinising the budgetary measures. “We have already identified the inconsistencies in the measures included in the proposed budget for FY 2019-20. We’ll submit our specific proposals to the revenue board on Monday,” Professor Khairul said. The BSEC Chairman already called on Prime Minister Sheikh Hasina to apprise her of the impact of some of the proposed budgetary measures.

Source: https://thefinancialexpress.com.bd/stock/bsec-readies-proposals-before-meeting-with-nbr-monday-1561264639

Asia Pacific General Insurance re-elects Chair, Vice-Chair

Aftab ul Islam has been re-elected as Chairman of the Board of Directors of the Asia Pacific General Insurance Company. Kashmiri Kamal has also been re-elected as Vice-Chairman of the company for the next term. They were re-elected unanimously at the Board of Directors meeting held on June 20.

Source: http://www.newagebd.net/article/76319/asia-pacific-general-insurance-re-elects-chair-vice-chair

Proposed VAT, Tax hike to hit Steel Industry hard

The price of rod is likely to go up by 10,350/- per MT, if the proposed VAT and tax is implemented as per 2019-20 budget proposal. Bangladesh Steel Manufacturers’ Association (BSMA) said at present Tk 1400/- per MT VAT is applicable on MS rod sales and Tk 200/- on retail sales. But as per new proposal it will be Tk 9050/- per MT (5 per cent on billet price of around Tk 35000/- per MT, Tk 2000/- on billet sales, Tk 2000/- on MS rod sales, 5 per cent on retail sales price of around 65000/-); increase is Tk 7600/- per MT.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/proposed-vat-tax-hike-to-hit-steel-industry-hard-1561312199

Skills training for 400 women by Citi UCEP

Some 400 underprivileged young women of the 2018 batch of the Citi UCEP Technical Education Programme have recently completed their training on industrial sewing operations and electronics assembling techniques. Citibank NA Bangladesh in partnership with the Underprivileged Children’s Educational Program (UCEP), a nongovernmental organisation, yesterday distributed certificates among the women aged between 17 to 25 years, at an event at UCEP’s Dhaka office.

Source: https://www.thedailystar.net/business/news/skills-training-400-women-1761556

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
Nikkei 225 21,255.37↓3.27↓0.02%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI) $ 57.82↑0.39↑0.68%
Crude Oil (Brent)$ 65.50↑0.30↑0.46%
Gold Spot $1,406.11 ↑6.48↑0.46%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 82.6770
GBP 1BDT 105.3090
EUR 1BDT 93.9904
INR 1BDT 1.1864





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