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 March 10, 2016

SAPL closes USD 30.5 million financing deal with FMO, IDCOL

Summit Alliance Port Ltd. (SAPL), the leading private sector inland container depot operator, has availed a syndicated term loan facility from NederlandseFinancierings-MaatschappijVoorOntwikkelingslanden N.V. (FMO) and Infrastructure Development Company Limited (IDCOL) to set up the first ever private sector Inland Container River Terminal facility of the country at Muktarpur, Munshiganj. With Green Delta Capital Limited (GDCL) as the “Mandated Lead Arranger”, an aggregate financing of USD 30.51 million has been raised from the two lenders, said a statement. To commemorate the financial closing of this landmark transaction, a closing ceremony was recently held at the Pan Pacific Sonargaon.

Source: http://print.thefinancialexpress-bd.com/2016/03/10/136120

Government to spend BDT 24.0 billion for Tripura power in five years

The government will have to spend around BDT 24.4 billion in the next five years for importing power from the Indian state of Tripura. The power will come through government to government arrangement (G2G). The country is currently importing 500 megawatts (MW) of power from India. According to the agreement, Bangladesh government has to import 100 MW of power at BDT 6.3 per kilowatt hour/ per unit under “no-electricity, no-pay” method from India in the first year. In the second year, price will be increased to five% on the first year’s price. The price will increase gradually in the third, fourth and fifth year proportionately at the same%. The cabinet committee on public purchase at a meeting Wednesday approved the tariff of power import. It also approved 10 other projects involving over BDT 39. 4 billion. The cabinet committee on economic affairs also approved appointing a firm to provide legal and consultancy services for protecting Intellectual Property Rights of Jute Genome Project. Finance Minister AMA Muhith presided over both the meetings at the cabinet division of Bangladesh Secretariat.

Source: http://print.thefinancialexpress-bd.com/2016/03/10/136111

Cotton imports from India rise 36.0%

Cotton imports from India increased 36.0% year-on-year to 3.0 million bales in 2015, according to data from Bangladesh Textile Mills Association. India became the largest cotton supplier to Bangladesh’s spinners and weavers thanks to the rise in imports, the industry insiders said. One bale weighs 480.0 pounds or 218.0 kilograms. In 2015, Bangladesh imported 6.1 million bales of cotton, 49.0% of which came from India. In 2014, cotton import from India grew by 27.0% year-on-year to 2.2 million bales, which was 37.0% of that year’s total cotton import of 5.9 million bales. Cotton imports from India started climbing in 2011. Bangladesh imported total 4.4 million bales of cotton that year, of which 1.7 million bales came from India, registering a 48.0% year-on-year growth. Due to higher quality, lower prices and shorter lead-time, India has become the largest cotton sourcing country for Bangladesh, Tapan Chowdhury, president of BTMA, said at a press meet at the association’s office in Dhaka yesterday.


UK bars air shipments from Bangladesh: Security issue cited as ground

The UK government has decided not to allow direct air shipments from Bangladesh on security ground which, according to local exporters, would affect the country’s foreign trade activities and its image abroad. “Recent security assessments of Dhaka International Airport found that some international security requirements were not being met. As part of a set of interim measures, cargo will not be allowed on direct flights from Dhaka to the UK until further notice,” according to an update issued on Tuesday and also available on the website of the British High Commission (UK) in Dhaka. “Airlines carrying cargo between Bangladesh and the UK on indirect routes are being asked to ensure it is re-screened before its final leg into the UK,” it added. The UK government is working with the government of Bangladesh to support them in improving standards for all aspects of aviation security, it further mentioned. The latest UK move came a couple of months after Australia put restriction on air shipments from Bangladesh on the same ground.

Source: http://print.thefinancialexpress-bd.com/2016/03/10/136151

Businesses still disagree with government over VAT law: Want multiple lower tax rates instead of uniform rate of 15.0%

Businesses and the government still stand in disagreement over some provisions of the new VAT law, principally a tall uniform rate of the tax at 15.0% for all — small kiosks or big shots. The country’s apex trade body wants pared-down multiple rates of VAT, even down to a minimal 2.0% for the small fry in business. But the National Board of Revenue (NBR) says enough has been considered for them so far and no further. The Value Added Tax (VAT) and Supplementary Duty Act-2012 is now readied to be pushed through from July 1, 2016 as per government decision. The NBR on government side and the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) thus are sticking to their respective positions on the new law. Also, the government is going to enforce the law with an exemption ceiling of BDT 3.0 million for facilitating small businesses. According to the new law, there will be a uniform rate of VAT at 15.0%. However, businesses can claim credit from VAT on purchase of raw materials. On the other side, businesses demand fixation of the VAT-exemption ceiling at BDT 3.6 million, a reduced rate of VAT for businesses who will be unable to obtain VAT credits and incorporating multiple rates of VAT instead of uniform rate.


World Stock and Commodities

Index NameClose ValueValue ChangePercentage Change
Crude Oil (WTI)*$38.20(0.09)(0.24%)
Crude Oil (Brent)*$40.86(0.21)(0.51%)
Gold Spot*$1,250.90(2.33)(0.19%)
Dow Jones Industrial Average17,000.36+36.26+0.21%
Nikkei 22516,806.10+163.9+0.98%
FTSE 1006,146.32+20.88+0.34%

Exchange Rates

USD 1BDT 78.38*
GBP 1BDT 111.27*
EUR 1BDT 86.07*
INR 1BDT 1.17*

*Currencies and Commodities are taken from Bloomberg.




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