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 11, 2019

Dhaka stocks advance on ADR adjustment time extension by Central Bank

Stocks increased for the second day on Sunday as a section of investors, encouraged by allowing banks more time for adjusting ADR, went for buying shares while many others remained cautious due to liquidity shortage in the financial sector. DSEX, the key index of Dhaka Stock Exchange, gained 0.37 per cent, or 21.60 points, to close at 5,710.06 points on Sunday after adding 2.07 points in the previous session. As per the Market Operators, the market began bullish, gaining 43 points within 20 minutes of the day, as some investors went for buying shares. On March 7, Bangladesh Bank extended the deadline by six more months for banks to adjust their advance-deposit ratio from March 31 that encouraged investors to invest in the capital market. The average share prices of engineering, energy and pharmaceutical sectors advanced by 0.87 per cent, 0.70 per cent and 0.65 per cent respectively. British American Tobacco Company shot up by 5 per cent on Sunday as the board of the company will disclose its dividend and earnings today for the year of 2018. The rise in the heavyweight company’s share prices raised the DSEX by 18 points.

Source: http://www.newagebd.net/article/67037/dhaka-stocks-advance-on-adr-adjustment-time-extension-by-central-bank

Exports to US soar by 18pc in July-Feb on US-China trade war

The country’s export earnings from the United States in the July-February period of the current financial year (2018-2019) increased by 17.78 per cent to $4.59 billion from $3.90 billion in the same period of FY 2017-18 as buyers shifted orders for readymade garment products from China to Bangladesh due to the ongoing US-China trade war. According to the Export Promotion Bureau data, among the traditional market (European Union, the US and Canada), Bangladesh’s export continued to achieve highest growth in the US in the current fiscal. As per the EPB data, Export earnings from the US, the largest export destination for Bangladesh, in July-November of FY19 grew to $2.83 billion from $2.33 billion in the same period of FY18. Export of RMG products to the US in July-February of FY19 grew by 17.69 per cent to $4.09 billion from $3.48 billion in the same period of FY18. Export earnings from the United Kingdom, however, continued maintaining a meagre growth due to possible fallout of Brexit. Export earnings from the UK in eight months of the current fiscal year grew by 4.31 per cent to $1.73 billion from $1.66 billion in the same period of FY18. RMG exports to the UK in the eight months of FY19 increased by 2.88 per cent to $2.77 billion from $2.7 billion in the same period of FY18.

Source: http://www.newagebd.net/article/67041/exports-to-us-soar-by-18pc-in-july-feb-on-us-china-trade-war

Govt mulls $2b Power Bonds

The government plans to raise $2 billion through issuing bonds to bankroll investment in the power and energy sector. As per The Minister, he is trying to float an energy power bond at least for $2 billion. Two things the Govt will get from there: finance and branding Bangladesh as an investment destination. As per the Minister, if he become successful in raising $2 billion, albeit a small amount given what they need in the power and energy sector, the whole world will be eager to invest in the country.

Source: https://www.thedailystar.net/business/news/govt-mulls-2b-power-bonds-1713187

SK Trims to invest Tk 35m in two Companies

The board of directors of SK Trims & Industries has decided to invest total Tk 35 million in two companies. As per the board decision, the company will invest Tk 25 million (2,500,000 shares) or 2.0 per cent shares in W&W Company (Pharmaceuticals Packaging Manufacturing Unit situated in Gazipur). The SK Trims will also invest Tk 10 million (1,000,000 shares) or 1.43 per cent shares in BEKA Garments & Textiles (situated in Narayanganj). The board has also confirmed that investment of Tk 10 million in Dominage Steel Building Systems has been completed. SK Trims, which raised a capital worth Tk 300 million through IPO, made trading debut on July 15, 2018. The company disbursed 2.0 per cent cash and 10 per cent stock dividend for the year ended on June 30, 2018. Each share of the company closed at Tk 55.80 on Sunday at DSE, gaining 1.08 per cent over the previous session.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/sk-trims-to-invest-tk-35m-in-two-cos-1552234663

Prime Bank launches JCB Platinum Credit Card

Prime Bank Limited (PBL) has launched JCB platinum credit card for the first time in Bangladesh. Managing Director (MD) and Chief Executive Officer (CEO) Rahel Ahmed introduced the new card of Japan Credit Bureau (JCB) at a ‘Meet the Press’ programme at a city hotel on Sunday. Additional Managing Director Habibur Rahman, Head of Consumer Banking unit ANM Mahfuz, JCB Executive Vice-President Yuichiro Kadowaki were present.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/prime-bank-launches-jcb-platinum-credit-card-1552234604

Taka deflates further against US$

The exchange rate of the Bangladesh Taka (BDT) depreciated further against the US dollar (US$) on Sunday, mainly due to higher demand for the greenback in the market for settling import bills. As per the Market Operators, the local currency depreciated by five poisha in the country’s inter-bank foreign exchange (forex) market on the day after nearly two weeks. The US dollar was quoted at Tk 84.20 each in the inter-bank forex market on the day against Tk 83.15 of the previous working day. On February 25, the local currency depreciated by three poisha in the inter-bank forex market on the same ground, when the US currency was quoted at Tk 84.15 each in the forex market against Tk 83.12 of the previous day. The local currency faced such depreciation, although the Bangladesh Bank (BB) sold US$ 44 million to the commercial banks in the last week to keep the forex market stable.

Source: http://today.thefinancialexpress.com.bd/first-page/taka-deflates-further-against-us-1552239929

DSEX crosses 5,700-mark

Stocks posted a marginal gain Sunday as some investors showed their buying appetite on sector specific issues. However, trading activities dipped to a fresh two-and-a-half months low to Tk 4.62 billion as institutional investors followed ‘go slow’ strategy ahead of earnings and dividend declaration of financial sectors. As per the Market Analysts, despite the banks got another six months to lower their advance-deposit-ratio (ADR), many investors followed cautious stance ahead of earnings and dividend declarations. In a circular issued on Thursday last, the Bangladesh Bank (BB) extended the deadline to September 30 this year to adjust the ratio.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/dsex-crosses-5700-mark-1552234537

12-day Sheltech Housing Fair begins tomorrow

Sheltech Limited will hold a 12-day housing fair, starting from tomorrow in Dhaka to mark its 31th anniversary. As the Managing Director, the fair will begin on March 12 and continue till March 23 and will offer six designated home appliances against a booking for an apartment. The company followed the Bangladesh National Building Code in constructing buildings and those buildings were capable of withstanding the code-specified natural forces like earthquake and wind.

Source: http://www.newagebd.net/article/67036/12-day-sheltech-housing-fair-begins-tomorrow

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
FTSE1007,104.31 ↓53.24↓0.74%
Nikkei 22521,069.93↑44.37↑0.21%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 56.34↑0.27↑0.48%
Crude Oil (Brent)$ 65.94 ↑0.20↑0.30%
Gold Spot $1,297.20↓2.10↓0.16%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 83.8028
GBP 1BDT 108.7006
EUR 1BDT 94.1273
INR 1BDT 1.1946





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