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 June 20, 2018

Dhaka stocks inch up on bargain hunting

Stocks inched up on Tuesday with the turnover at the Dhaka Stock Exchange hitting a two-month high as a section of investors went for bargain hunting mostly on low- and medium-capitalized companies while others continued selling shares fearing further losses amid a prolonged bearish trend at the market. DSEX, the key index of the DSE, added 0.06 per cent, or 3.66 points, to close at 5,344.96 points on Tuesday after losing 23.92 points in the previous session. After a consistent downfall in May, the market went through ups and downs in June as investors were anxious about their investments amid the prevailing crisis in the country’s financial sector. Moreover, depreciation of the taka against the dollar and looming political uncertainties ahead of December national elections weighed on the index. Therefore, the average share prices of miscellaneous, non-bank financial institution and bank sectors lost 2.2 per cent, 1.67 per cent and 0.16 per cent respectively. The investors’ participation on trading floor, however, increased as the turnover at the bourse advanced to Tk 635.78 crore on Tuesday compared with that of Tk 485.90 crore in the previous session. Tuesday’s turnover was the highest after April 10 when it was Tk 710.96 crore. DS30, the blue-chip index of the DSE, added 0.03 per cent, or 0.61 points, to finish at 1,942.47 points. Shariah index DSES, however, gained 0.11 per cent, or 1.42 points, to close at 1,240.75 points.

Source: http://www.newagebd.net/article/43970/dhaka-stocks-inch-up-on-bargain-hunting

Secondary trading of t-bills, bonds up in May

Secondary trading of treasury bills and treasury bonds increased slightly in May after it had declined sharply in the immediate past month. The turnover stood at Tk 7.13 billion in last month, up by Tk 63 million from Tk 6.50 billion in April, central bank statistics showed. In April, the turnover was a more-than-four-time fall from that in March, when the amount was Tk 27.78 billion. Banks and financial institutions are the main buyers of these fixed income government securities. T-bills are short-term and t-bonds are long-term. The secondary trading of t-bills and t-bonds in the first 11 months of the current fiscal year stood at Tk 152.11 billion, Bangladesh Bank statistics also showed. In the same period of the last fiscal year, the turnover was Tk 366.54 billion, which means the trading in monetary terms fell by 58.50 per cent during July-May period of this fiscal year.

Source: https://thefinancialexpress.com.bd/trade/secondary-trading-of-t-bills-bonds-up-in-may-1529400045

IPO subscription of VFS Thread to open June 24

The public subscription of VFS Thread Dyeing Limited will open on June 24 and continue till July 02. The company will raise a fund worth Tk 220 million through the initial public offering (IPO) under fixed price method. The securities regulator, Bangladesh Securities and Exchange Commission (BSEC), approved the IPO proposal on April 03 to issue 22 million ordinary shares at an offer price of Tk 10 each. The proceeds would be utilised to purchase plant and machinery, repay bank loans and bear the IPO expenses. According to financial statement for the year ended on June 30, 2017, the company’s net asset value (NAV) per share stood at Tk 19.90 (without revaluation) and the weighted average earnings per share (EPS) was Tk 2.02. Citizen Securities & Investment and First Security Islami Capital & Investment are jointly working as the issue managers of the company’s IPO. Incorporated in 2010, the principal activities of the company are to carry on the business of dyeing and finishing of sewing thread of different types for 100 per cent export-oriented readymade garments industries in Bangladesh.

Source: https://thefinancialexpress.com.bd/stock/bangladesh/ipo-subscription-of-vfs-thread-to-open-june-24-1529383916

Planning minister hopes 10pc growth by 2029

Planning Minister hopes Bangladesh will be able to attain 10 per cent economic growth by 2028-29, after implementation of mega projects. The Minister came up with the projection while speaking at the Annual Performance Agreement (APA) signing programme in Dhaka on Tuesday. The APA was signed between the planning ministry and all entities of the Planning Commission (PC). The planning minister urged the officials concerned to speed up implementation of all projects. Referring to the APA, the Minister said it is not merely an agreement or a formality. “The revenue collection system will be reformed to bring more people under tax net and lower the rate of tax to reduce pressure on taxpayers,” the minister said. “Tax-revenue ratio will be taken to 15 per cent by reducing the tax rate”.

Source: https://thefinancialexpress.com.bd/economy/bangladesh/planning-minister-hopes-10pc-growth-by-2029-1529423124

ADB to lend $50m for microenterprise development

The Asian Development Bank (ADB) has agreed to lend US$50 million to help Bangladesh promote microenterprises led by women, finance ministry officials said. The fund will be channelled through Palli Karma Sahayak Foundation (PKSF). The state-run top financier for micro-lenders will then distribute the funds among small enterprises through its partner organisations (POs). The interest rate on loans will be determined in line with the ADB’s London interbank offered rate (LIBOR)-based lending facility. A commitment charge of 0.15 per cent per annum will be levied. The ADB will provide a credit line to PKSF’s partner bodies to ease short-term funding constraints in microenterprise financing, the Asian lender said in a note. The ADB will provide the fund in a scheme, known as “microenterprise development project.” The project aims to provide loans to additional 40,000 micro-entrepreneurs of whom 70 per cent is women. The project output will support developing a PKSF medium-term institutional strengthening and financing strategy. After borrowing from the ADB, the ministry of finance (MoF) will relend the loan proceeds to PKSF in local currency. The interest rate will be determined by the government. The PKSF will then lend to POs. The latter will finance eligible borrowers at interest rate between 5.5 per cent and 8.0 per cent a year. The project will be implemented in two years starting from January next year.

Source: https://thefinancialexpress.com.bd/economy/bangladesh/adb-to-lend-50m-for-microenterprise-development-1529384233

BTRC to set up integrated system for live monitoring of mobile cos’ data

The Bangladesh Telecommunication Regulatory Commission will set up an integrated telecom monitoring system in its office for getting live data to measure the quality of service and calculate revenue-related data of mobile phone companies. The integrated monitoring system will be called Telecom Monitoring System, which will be comprised of two separate segments, BTRC officials told New Age last week. The monitoring station installed at the BTRC will be a monitoring and data management system that will be treated as a telecom monitoring centre. The TMS will act as the interface to monitor networks, data management and report generation. The other part of the system, Compliance Monitoring System, will be installed on the mobile phone operators’ premises. The CMS will collect required network, traffic and billing data from the operators’ nodes and analyse those data to generate summarised report on indicators and compliance. About the need for setting up such a monitoring system, the BTRC officials said that the commission needed an integrated network monitoring system to monitor telecom networks and services properly. The system will provide the BTRC with regular, live and effective telecom indicators, they said.

Source: http://www.newagebd.net/article/43967/btrc-to-set-up-integrated-system-for-live-monitoring-of-mobile-cos-data

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
Nikkei 22522,278.48↓292.21↓1.29%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$64.82↓0.55↓0.84%
Crude Oil (Brent)$75.25↑0.47↑0.63%
Gold Spot$1,274.34↓5.85↓0.46%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 84.11
GBP 1BDT 110.66
EUR 1BDT 97.32
INR 1BDT 1.23





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