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 March 05, 2019

Banks to cut 15pc VAT on Foreign e-purchase, payments for Ads

Bangladesh Bank on Sunday asked country’s all scheduled banks to deduct 15 per cent value-added tax on overseas payments made by their clients using any method, including credit card, against services like online purchase and advertisement on digital platforms. Banking Regulations and Policy Department of the central bank gave the instruction to the chief executive officers and managing directors of the scheduled banks following a letter of National Board of Revenue. VAT wing of NBR on January 22 requested BB Governor to instruct all banks to deduct the VAT on any payment, irrespective of mode of payment, made by banks’ clients against services including royalty, various internet services, advertisement on digital platforms and other services received from abroad. The letter, signed by NBR first secretary (VAT policy) Hasan Mohammad Tarek Rikabder, said that 15 per cent VAT would be applicable to payment for the services which was generated outside the geographic territory of the country but consumed inside the country and payment was made from the country.

Source: http://www.newagebd.net/article/66459/banks-to-cut-15pc-vat-on-foreign-e-purchase-payments-for-ads

Chemical imports treble in 10yrs

Bangladesh’s chemical imports have nearly tripled in the past decade, spurred by the rising demand from various industrial sectors catering to domestic and foreign markets. Sector operators said garments and textile sectors are the main consumers of the imported chemicals followed by pharmaceuticals, food processing, cosmetics and toiletries, leather, plastic and other sectors. According to Bangladesh Bank (BB) data, Businesses brought in Tk 17,548 crore worth of chemicals in 2017-18, which was only Tk 6,103 crore in 2007-08. Imports rose 12 percent year-on-year to Tk 7,772 crore in the July-November period of the current fiscal year.

Source: https://www.thedailystar.net/business/news/chemical-imports-treble-10yrs-1710706

Foreign Fund in Stocks keep soaring on DSE

Net foreign investments in Dhaka bourse soared more than 84 per cent month-on-month in February as overseas investors continued to put fresh funds after the national elections. Net foreign fund in stocks turned positive in January, 2019 after remaining negative in the past three consecutive months – October, November and December, 2018. As per the market Analysts, a stable political situation after the national elections pepped up the confidence level of the overseas investors and they started to invest in stocks. According to statistics from the Dhaka Stock Exchange (DSE), the overseas investors bought shares worth Tk 5.87 billion and sold stocks of Tk 2.64 billion, to take their net investment to Tk 3.23 billion in February.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/foreign-fund-in-stocks-keep-soaring-on-dse-1551720250

LPG becoming vital source of Energy

As per LPG facility Providers, the use of energy at both households and industries will undergo a major shift in the next decade as Bangladesh is increasingly making liquefied petroleum gas (LPG) widely available. The demand for LPG is growing exponentially in the country. It needs about 600,000 tonnes of LPG to meet the current demand, which is projected to be more than 1,400,000 tonnes by 2022. The rising energy demand and the projected shortage of natural gas are bolstering the growth of LPG use at both household and industry levels.

Source: https://www.thedailystar.net/business/news/lpg-becoming-vital-source-energy-1710715

BHTPA gets ISO Certification

As per an Official, the Bangladesh Hi-Tech Park Authority (BHTPA) has recently been awarded certification for quality management from the International Organisation for Standardisation (ISO). The ‘ISO 9001:2015’ certification will help the government organisation attract more foreign entrepreneurs in the country’s information communication and technology (ICT) sector. According to BHTPA Project Director, they received the certification last week, after meeting all the criteria set by the ISO representative organization. Through this achievement, the BHTPA has become one of the few Bangladeshi government organisations receiving such international certification for quality management.

Source: http://today.thefinancialexpress.com.bd/trade-market/bhtpa-gets-iso-certification-1551721004

Runner Automobiles to allocate 13.93m shares

Runner Automobiles will allocate 13.93 million ordinary shares among the successful applicants as the company’s IPO lottery draw was held on Monday. The result has already been published on the websites of Dhaka Stock Exchange (DSE), Chittagong Stock Exchange (CSE) and the company. Runner Automobiles, a flagship company of Runner Group, raised a fund worth Tk 1.0 billion from the capital market under the book-building method. The book-building method is a process through which an issuer attempts to determine the price of a share based on the demand from institutional investors. The fund will be utilised for the purpose of research and development works, purchasing machinery, repaying bank loans and bearing the IPO expenses.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/the-motorcycle-maker-to-allocate-1393m-shares-1551720474

Branch Manager`s Conference of Islami Commercial Insurance held

Branch Manager`s Conference -2018 of Islami Commercial Insurance Co. Ltd. was held recently at Dhanmondi, Dhaka. The Chairperson of the Board of Directors Janaba Shahida Anowar, Chief Adviser Janab Al-haj Md. Anowar Hossain, Adviser Janab A.Z.M. Shamsul Alam, Consultant Janab A.K. Momtaz Khan, Managing Director & CEO Janab Mir Nazim Uddin Ahmed, Branch Managers, Senior Executives of Head office of the company were present on the occasion. An elaborate discussion was made on the performance of business operation upto December -2018 and future plan for the year-2019.


Dhaka to seek DP World’s investments in Ports

As per the Officials, Bangladesh will seek Dubai-based DP World’s investments for Chittagong and Payra ports. A delegation of the DP World high-ups is scheduled to arrive in the city today (Tuesday) and shipping officials in Dhaka will seek investments. During Prime Minister Sheikh Hasina’s UAE visit on February 17, chairman of DP World Sultan Ahmed bin Sulayem and Bangladesh shipping secretary Abdus Samad signed a memorandum of understanding on setting up port, dry port and industrial park in the country. The DP World high-ups told Bangladesh officials that wherever they constructed a port they would also set up an industrial park. As per Foreign Secretary, they are thinking about large investments in Bangladesh.

Source: http://today.thefinancialexpress.com.bd/first-page/dhaka-to-seek-dp-worlds-investments-in-ports-1551722130

Rangpur Chilli Growers getting good profit

Chilli growers in different areas in the district are delighted as they are getting good profit from the sale of their produce. As per the sources, the prospect of spicy crops is bright in different upazilas of the district including Kawnia and Gangachara. The weather, moderate rainfall and soil of the region are also congenial to the farming of different varieties of spicy crops including chilli. Presently, per maund (40 kg) of chilli is being sold at Tk 1,050 to Tk 1,100 in different markets. Due to low production cost, good profit and easy farming process its cultivation is on the rise in different char areas as well.

Source: http://today.thefinancialexpress.com.bd/country/rangpur-chilli-growers-getting-good-profit-1551711943

Mr. Maroof becomes City Bank AMD

Sheikh Mohammad Maroof has been appointed as additional managing director of City Bank recently. Prior to his appointment, Mr. Maroof served as a deputy managing director and a wholesale banking head of the same bank, since 2012. He joined City Bank in 2007 as executive vice president and head of treasury and later took the charge of wholesale banking.

Source: http://www.newagebd.net/article/66472/maroof-becomes-city-bank-amd

Suspected drug peddler killed in shootout

An alleged drug peddler was killed in what police said was a gunfight between two gangs of drug traders at Kazipur village in Gangni upazila of Meherpur early yesterday.

Source: https://www.thedailystar.net/backpage/news/drug-peddler-killed-shootout-1710634

7,000 bottles of Phensedyl seized

Members of Rapid Action Battalion (Rab) arrested an alleged drug peddler with 7,000 bottles of Phensedyl at Nimtala in Gomostapur upazila under the bordering district yesterday.

Source: https://www.thedailystar.net/country/news/7000-bottles-phensedyl-seized-1710514

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
FTSE1007,134.39 ↑27.66↑0.39%
Nikkei 22521,685.76↓136.28↓0.62%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 56.30↓0.29↓0.51%
Crude Oil (Brent)$ 65.37 ↓0.30↓0.46%
Gold Spot$1,296.48↑3.04↑0.24%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 83.0250
GBP 1BDT 110.5265
EUR 1BDT 95.1835
INR 1BDT 1.1865





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