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, 2020

DSEX suffers biggest fall in 7 years

Dhaka stocks suffered a deeper slump on Monday, as frightened investors dumped their holdings after the confirmation of three first cases of coronavirus in the country. The key index of the Dhaka Stock Exchange, DSEX, lost its value by 6.52 per cent shedding around 279.32 points, the biggest since its introduction in 2013. The index closed at 4,008.05 points. The top 10 gainers’ chart looked almost empty as only two listed securities closed in the green, one remained unchanged and the remaining 352 declined. The SENSEX (India) declined 4.92 per cent, NIKKI 225 (Japan) 5.07 per cent, FTSE 100 (UK) 7.14 per cent, STI (Singapore) 6.03 per cent, Hang Seng (Hong Kong) 4.23 per cent and SZSE Comp (China) 4.09 per cent. The Dhaka bourse’s opening was depressing as the DSEX lost 120 points within the first nine minutes. A momentary recovery was observed only to fade within ten minutes and the DSEX witnessed another loss of 90 points. The broad index showed an upward trend that sustained for 23 minutes. Afterwards, the DSEX was in the red until its closure. The Shariah-based index DSES declined 6.98 per cent or 69.79 points to close at 929.27 points. The DS30 index comprising blue chips closed at 1,346.11 points dropping by 6.19 per cent. However, the turnover on the prime bourse managed to stay higher amounting to Tk 4.99 billion, which was 16.41 per cent higher than that of the previous session. Square Pharmaceuticals topped the turnover chart with a value of Tk 156 million, followed by Grameenphone Tk 135 million, LafargeHolcim Bangladesh Tk 118 million, Summit Power Tk 104 million and Sea Pearl Beach Resort Tk 102 million.

Source: https://today.thefinancialexpress.com.bd/first-page/dsex-suffers-biggest-fall-in-7-yrs-1583774882

BD ranks 70th among 100 nations in ‘Inclusive Internet Index 2020’

Bangladesh has ranked 70th on the ‘Inclusive Internet Index 2020’, which seeks to measure the accessibility, affordability and relevance of internet among 100 nations. The report on the index, commissioned by Facebook and conducted by The Economist Intelligence Unit (EIU) recently, said: “Bangladesh occupies a place in the lowest third of Asian countries in nearly all four index pillars.” Bangladesh categorically ranked 72nd in availability, 65th in affordability, and 72nd in relevance and 65th in readiness. According to the report, India ranked 40th, Sri Lanka 56th and Pakistan 76th in overall position in South Asia. This year’s index, which covers 91 per cent of the world’s population, is published for the third year alongside the Value of the Internet Survey, which polled 4,953 respondents from 99 countries, to gauge perceptions on how internet use affects people’s lives and livelihoods. The EIU said Sweden, New Zealand and the United States topped the list, followed by Australia, Denmark, South Korea, Canada, United Kingdom, France and Spain.

Source: https://today.thefinancialexpress.com.bd/trade-market/bd-ranks-70th-among-100-nations-1583776821

Dighipara has 706m tonnes minable coal

The Dighipara basin in Dinajpur district is the second largest among the discovered coal fields in Bangladesh, having around 706 million (70.60 crore) tonnes of extractable coal reserves. According to a feasibility study report, Dighipara has a high quality coal resource of 706 million tonnes with a high level of confidence. The feasibility study was jointly conducted by Germany- based MIBRAG Consulting International GmbH, FUGRO Consult GmbH and Runge Pincook Minaroo Limited of Australia. It said coal is deposited on 12.8 square kilometres land and the government can extract three million (30 lakh) tonnes of coal from the mine every year. It is technically possible to mine 90 million tonnes of coal from Dighipara allowing the powering of Thermal Power Station for 30-40 years. The consortium conducted feasibility study within 24 square kilometres to assess the economic viability of the coal field between June 01, 2017, and September 30, 2019. Barapukria Coal Mining Company implemented the project ‘Feasibility Study for Development of Dighipara Coal Field’ with its own funding. The study said the highest calorific value of coal is 7,067 kilocalorie/kg or 12,271 btu/pound and the average calorific value is 6,645 kolocalorie/kg or 11,961 btu/pound. Content of Sulphur in the coal is 0.85 per cent.

Source: https://today.thefinancialexpress.com.bd/trade-market/dighipara-has-706m-tonnes-minable-coal-1583779132

Yarn prices soar as virus fear triggers panic buying

Prices of yarn marked a sharp rise in the domestic market over the last one month as the coronavirus fear has triggered panic buying, according to industry insiders. The widely-consumed 30-carded yarn is now selling between $2.95 and $3 per kilogramme — an 11 per cent increase from a month ago, said Monsoor Ahmed, secretary of the Bangladesh Textile Mills Association. The prices of yarn increased 15 per cent over the last one month in the coronavirus fallout, according to a letter from Bangladesh Garment Buying House Association (BGBA). In fiscal 2018-19, imports from China amounted to $13.63 billion, $5.02 billion of which were textiles. “Given the dependence of the garment sector on China for its raw materials and the fact that the epidemic may linger, it could prove fatal for the industry as the supply chain will be paralysed. Since goods from Chinese suppliers would be delayed, Bangladesh Bank may issue policy directives to the scheduled banks to amend the respective clauses in the back-to-back LCs to make the payments to suppliers conditional and justified, according to the BGMEA letter. The association also asked its member factories to raise awareness among workers about the virus and opened a “BGMEA coronavirus control room”

Source: https://www.thedailystar.net/business/news/yarn-prices-soar-virus-fear-triggers-panic-buying-1878652

Now Square gets approval to ship medicines to Congo

Square Pharmaceuticals has received the good manufacturing practices certificate from Congo, joining a growing list of medicine exporters from Bangladesh looking to make inroads into the African continent. Last month, Apex Pharma received the same certification, which came from the Directorate of Pharmacy & Medicine under the public health ministry of Congo. Set up in 1958, Square Pharmaceuticals is the largest pharmaceutical company in Bangladesh, a position it has held among all national and multinational companies since 1985. The turnover of Square Pharma was Tk 5,087 crore with about 16.95 per cent market share and a growth rate of about 10.85 per cent in the last fiscal year. It pioneered exports of medicines from Bangladesh in 1987 and has been selling antibiotics and other pharmaceutical products in 42 countries, according to the company’s website. It has received approvals to export products to the US, the UK and Australia. Listed on the Dhaka Stock Exchange, the company’s shares closed 6.6 per cent lower at Tk 173.30 yesterday, as fears of coronavirus outbreak hit the stock market hard. Bangladesh’s earning from pharmaceuticals exports rose 25.60 per cent to $129.95 million in the last fiscal year, according to the Export Promotion Bureau. Pharma exports grew 7.23 per cent to $96.72 million in the first eight months of the fiscal year. The government has targeted to earn $169.59 million in pharmaceuticals exports in fiscal 2019-20.

Source: https://www.thedailystar.net/business/news/now-square-gets-approval-ship-medicines-congo-1878634

LankaBangla Finance awarded

A four-day fair was held to promote women entrepreneurs and their products titled “Banker-SME Women Entrepreneur and Product Display-2020,” organised by Bangladesh Bank at the Bangladesh Institute of Bank Management premises recently. To promote women entrepreneurs, members of SME Division of LankaBangla Finance Limited were present at the stall number 24 and 25 with tailor-made women investment opportunities like Shikha Anonnya, Shikha SME Deposit Schemes and other essential SME products and services.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/lankabangla-finance-awarded-1583776726

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DSEX4,008.05552↓ 279.32↓ 6.52 %
↓ 2,013.76↓ 7.79 %
FTSE1005,965.77↓ 496.78↓ 7.69 %
Nikkei 22519,655.75↓ 43.01↓ 0.22 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 33.17↑ 2.04↑ 6.55 %
Crude Oil (Brent)$ 36.86 ↑ 2.50 ↑ 7.28 %
Gold Spot$ 1,666.73 ↓ 13.74 ↓ 0.82 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 83.0931
GBP 1BDT 108.874
EUR 1BDT 94.9194
INR 1BDT 1.11515





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