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 25, 2019

Record FDI in 2018

Bangladesh received net foreign direct investment (FDI) amounting to $3.61 billion in 2018, its highest yet thanks to the one-off payment of $1.47 billion by Japan Tobacco Inc. to purchase Akij Group’s tobacco Business. The inflows are an increase of 67.94 percent from a year earlier, according to the United Nations Conference on Trade and Development (UNCTAD). The power sector attracted the highest amount of FDI of $1.01 billion, followed by food at $729.69 million, textile and weaving at $408.08 million, Banking at $282.54 million, telecommunication at $219.87 million, leather and leather products at $110.55 million and trading at $101.91 million. The other sectors received $748.65 million, according to the Bangladesh Investment Development Authority (BIDA), which unveiled the compiled investment data of the UNCTAD.

Source: https://www.thedailystar.net/business/news/record-fdi-2018-1762024

Banks’ return on equity, asset falls sharply in 2018

Return on equity and asset of the country’s Banks almost halved at the end of December last year from that of a year ago, showed a Bangladesh Bank report titled ‘Bangladesh Systemic Risk Dashboard’. As per the BB report published on Monday, return on equity (ROE) dropped to 4.4 per cent at the end of December, 2018 while the rate was 10.4 per cent a year ago. Besides, return on asset (ROA) of the banks dropped to around 0.3 per cent at the end of December, 2018 while the rate was around 0.7 per cent in the previous year. ROE is considered a measure of how effectively management is using a company’s assets to create profits while the ROA gives a manager, investor or analyst an idea how efficient a company’s management is at using its assets to generate earnings. Officials of the Central Bank said that growing non-performing loans had become a major burden for the country’s Banking sector.

Source: http://www.newagebd.net/article/76404/banks-return-on-equity-asset-falls-sharply-in-2018

More large companies to come under LTU

The National Board of Revenue has withdrawn the upper limit on the number of Companies to be brought under its Large Taxpayers Unit (LTU-Value-Added Tax) to bring more eligible Companies across the country under the unit’s jurisdiction for ensuring proper revenue collection from the entities and providing them better services. The revenue board has issued new guidelines on selection of taxpayers for the LTU, expanding the jurisdiction of the unit across the country, scrapping the previous guidelines issued in 2012 which restricted the highest number of Companies to 200 under the unit. The NBR issued the guidelines along with other budgetary measures on June 13 for the next fiscal year of 2019-2020. According to the new guidelines, Businesses which paid on average Tk 10 crore in VAT in last three financial years will come under the purview of the LTU.

Source: http://www.newagebd.net/article/76401/more-large-companies-to-come-under-ltu

Digital shipment platform launched for BD, China markets

An initiative has been launched to deal with “drop shipment” between Bangladesh and China as Bangladeshi businesses see a potential market for drop-shipping business with a big volume of transaction between the two nations. Drop-shipping is a supply chain management method in which the retailer does not keep goods in stock but instead transfers the customer orders and shipment details to either the manufacturer, another retailer, or a wholesaler, who then ships the goods directly to the customer. doorping.com Chief Executive M Sazal Sarkar said the internet-based service being launched to facilitate the businesses that depend on the Chinese market. The agency will bridge between Bangladesh and Chinese markets digitally alongside ensuring faster services using cargo flight and cargo ship.

Source: https://thefinancialexpress.com.bd/trade/digital-shipment-platform-launched-for-bd-china-markets-1561374449

Move to construct floating solar power station in Mongla

Country’s first floating solar power station with capacity of producing 15 MW electricity would be constructed at Mongla municipality in Bagerhat district. The solar plant would be constructed at a cost of Taka 1.50 billion with financial support of Indian government. A tripartite agreement in this regard was signed at a function at Mongla Port Authority conference room recently. Mongla municipality mayor Zulfikar Ali, Chief Executive Officer (CEO) of Premier Solar Powertech Pvt. Ltd of India Sudir Mola and Chairman of Bangladesh Solar EPC Development Ltd Izaj Al Qudrat-A-Majid signed the agreement.

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

Cement to be 10pc costlier: Manufacturers

The price of cement will go up by Tk 42 per 50kg bag owing to some tax and VAT measures the finance minister has proposed on the imports of the raw materials used to produce the construction material. Until the current fiscal year, cement manufactures pay 5 percent Advance Income Tax (AIT) to import raw materials and the tax is adjustable. The AIT to be paid by the cement makers to import raw materials will be treated as the minimum tax from the next fiscal year of 2019-20, according to the proposal of the National Board of Revenue (NBR).

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

Mercantile Bank, Bakhrabad Gas sign deal

Mercantile Bank Limited has recently signed an agreement with Bakhrabad Gas Distribution Co. Ltd (BGDCL). As per the agreement, Mercantile Bank will facilitate the collection of gas bill from BGDCL customers through the Bank’s online banking system and Mobile Financial Service MyCash. The agreement was signed by Adil Raihan, Deputy Managing Director & CSBO of the Bank, and Afroza Begum, Company Secretary of BGDCL, on behalf of their respective organization.

Source: https://thefinancialexpress.com.bd/trade/mercantile-bank-bakhrabad-gas-sign-deal-1561360354

HSBC offers overseas study support

The Hongkong and Shanghai Banking Corporation (HSBC) Bangladesh has recently launched “HSBC SmartStudy”, a new comprehensive proposition to support students in their overseas education journey from start till the end. “HSBC Select” customers will now be able to open a “Student File” account and facilitate payments through HSBC Bangladesh to top education destinations. Francois de Maricourt, Chief Executive Officer of HSBC Bangladesh, attended the launch at Westin Dhaka.

Source: https://www.thedailystar.net/business/news/hsbc-offers-overseas-study-support-1761997

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
Nikkei 225 21,259.87↓26.12↓0.12%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI) $ 57.82↓0.08↓0.14%
Crude Oil (Brent)$ 64.87↑0.01↑0.02%
Gold Spot $1,425.81 ↑6.09↑0.43%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 82.6140
GBP 1BDT 105.2420
EUR 1BDT 94.0810
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