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 13, 2019

ECNEC okays Tk 7.22b Nakshipalli project to enhance Facilities

The Executive Committee of National Economic Council (ECNEC) approved on Tuesday a project titled ‘Sheikh Hasina Nakshipalli, Jamalpur (1st phase)’ involving Tk 7.22 billion, aiming to enhance facilities for Nakshi entrepreneurs, handloom and handicraft workers. The approval came at the weekly ECNEC meeting held at the NEC conference room with ECNEC Chairperson and Prime Minister Sheikh Hasina in the chair. As per the Planning Minister, the meeting cleared a total of six projects involving an estimated cost of Tk 2,65.07 billion and the entire cost will be borne by the national exchequer. All the six projects are new ones. About the Nakshipalli project, the minister said Bangladesh Handloom Board under the Textile and Jute Ministry will implement the project on 300 acres of land in Jamalpur by December 2021.

Source: http://today.thefinancialexpress.com.bd/last-page/ecnec-okays-tk-722b-nakshipalli-project-to-enhance-facilities-1552413314

BSEC approves Tk 150m IPO of Ring Shine Textiles

The securities regulator has approved the initial public offering (IPO) proposal of Ring Shine Textiles to raise a capital worth Tk 150 million from the capital market. The Bangladesh Securities and Exchange Commission (BSEC) approved the company’s IPO proposal at a commission meeting held in Dhaka on Tuesday. BSEC Chairman M Khairul Hossain presided over the meeting. As per the BSEC approval – under the fixed price method – Ring Shine Textiles will float 15 million ordinary shares at an offer price of Tk 10 each. The company will utilize the IPO proceeds for purchasing machinery; repay bank loans and bearing the IPO expenses. According to the financial statement ended on June 30, 2018, the company’s net asset value (NAV) per share (without revaluation) was Tk 23.17 and the weighted average earnings per share (EPS) stood at Tk 1.86.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/bsec-approves-tk-150m-ipo-of-ring-shine-textiles-1552408463

BATBC recommends 500pc cash, 200pc stock dividend

British American Tobacco Bangladesh Company (BATBC) has recommended 500 per cent cash and 200 per cent dividend for the year ended on December 31, 2018. The board has also decided to increase authorised capital from Tk 600 million to Tk 5.40 billion by amending Clause 5 of the Memorandum of Association and Clause 5 of the Articles of Association, subject to the approval of the shareholders in the extraordinary general meeting (EGM). The date of EGM and annual general meeting (AGM) will be held on April 28 at 10:00am and 10:30am respectively at Pan Pacific Sonargaon Hotel in Dhaka. The record date for EGM and AGM is on April 04. The multinational company has also reported earnings per share (EPS) of Tk 166.87, net asset value (NAV) per share of Tk 492.15 and net operating cash flow per share (NOCFPS) of Tk 150.13 for the year ended on December 31, 2018 as against Tk 130.50, Tk 385.21 and Tk 162.22 respectively for the same period of the previous year. Following the hefty dividend decoration news, its share price rose 15.96 per cent to close at Tk 4,580 on Tuesday. The company dominated the gainers and turnover chart, with shares worth Tk 754 million changing hands.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/batbc-recommends-500pc-cash-200pc-stock-dividend-1552408549

bKash launches Add Money Service

bKash has launched a new service enabling its customers to transfer fund instantly from Mastercard branded debit, credit and prepaid cards issued by banks in Bangladesh to bKash 24/7. This service is now a reality with Southeast Bank’s Mastercard Payment Gateway Service. bKash, the largest mobile financial service provider of Bangladesh, Mastercard and Southeast Bank jointly organized the launching event at a city hotel on Monday. bKash app users can add money to their own accounts as well as other bKash accounts. The same bKash cash-in limits will be applicable for this service. To make the transfer bKash users need to click add money options from bKash app interface. Then they need to select card to bKash options and incorporate the bKash number. Putting the required card details and desired amount customer will get an OTP (One Time Password) in their registered mobile number. By entering the OTP customer will be able to complete the transaction.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/bkash-launches-add-money-service-1552408488

BATBC, GP rescue stocks

The Dhaka Stock Exchange yesterday avoided a massive fall thanks to a positive movement of two heavyweight multinational stocks — British American Tobacco Bangladesh Company (BATBC) and Telenor’s Grameenphone. According to the DSE, 261 companies, which accounted for more than 75 percent of the 345 issues traded yesterday, declined on the day. Their decline, however, could not hit hard the main index as it fell only 8.38 points. BATBC’s shares rose 16.47 percent, or Tk 650.5, riding on the cigarette maker’s announcement of 700 percent dividend for the year that ended on December 31, 2018. The dividend included 200 percent stock dividend, the first stock dividend after 26 years. Grameenphone’s shares rose Tk 10.3, or 2.69 percent, to close at Tk 395.20. According to an index Analyst, BATBC added 62.41 points alone to the DSEX and Grameenphone 22.27 points. If the two shares remained unchanged yesterday, the index would have fallen by 93 points. Turnover, one of the important indicators of the market, rose 22.71 percent to Tk 621.99 crore, with 11.31 crore shares and mutual fund units changing hands on the DSE. BATBC dominated the turnover chart with 1.59 lakh shares worth Tk 75.36 crore traded, followed by Monno Ceramics, United Power Generation, Dutch- Bangla Bank, and Bangladesh Submarine Cables.

Source: https://www.thedailystar.net/business/news/batbc-gp-rescue-stocks-1714396

ADP spending stands at 39pc in 8 months

The progress in implementation of annual development programme still has remained slow though the implementation rate slightly increased in July-February of the current fiscal year (2018-2019) compared with that in the same period of last fiscal year (2017-2018). According to the data of Implementation Monitoring and Evaluation Division of the planning ministry, 57 ministries and divisions responsible for ADP implementation spent only 39.13 per cent or Tk 70,772 crore in the eight months of this fiscal year, up 1.12 percentage points or Tk 8,400 crore on that of the same period of last fiscal year. The government has adopted an ADP worth Tk 1,80,869 crore for FY19. In July-February of FY18, the agencies implemented 38.01 per cent or Tk 62,372 crore of ADP worth Tk 1,64,085 crore. The government will have to spend Tk 1,10,097 crore or 60.87 per cent in the remaining four months of this fiscal year to achieve a full implementation.

Source: http://www.newagebd.net/article/67204/adp-spending-stands-at-39pc-in-8-months

Japan keen to invest in Gasoline Engine Car Manufacturing Industry

Japan has shown its interest to invest in the gasoline engine car manufacturing industry in Bangladesh. The information came on Tuesday when Japanese Ambassador to Bangladesh Hiroyasu Izumi called on Industries Minister Nurul Majid Mahmud Humayun at his office in the city. During the meeting, they discussed various bilateral issues, including trade and investment, technology transfer and automobile industry. The Minister welcomed the Japanese investors in the country’s automobile industry and said Bangladesh consumers have confidence on the Japanese branded cars, including Toyota. Japanese Honda Company has already set up factory in Bangladesh for producing Honda brand motorcycles. As per the Ambassador, there are huge opportunities to accelerate economic relations between the two friendly nations, Bangladesh and Japan.

Source: http://www.newagebd.net/article/67209/japan-keen-to-invest-in-gasoline-engine-car-manufacturing-industry

Honey fetches Tk 3.0m at bee fair

The three-day National Bee Fair (Jatiya Mou Mela) – 2019 ended on Tuesday with a huge response from the Customers, General Visitors and Entrepreneurs. Agriculture Minister Dr Abdur Razzak inaugurated the fair as the chief guest at AKM Giasuddin Milky Auditorium in the capital on Sunday. Ministry of Agriculture organised the fair, held under the theme of “Bee Cultivation Will Increase Nutrition, Income and Harvest”. As per the Organisers, honey of different flowers estimated to be worth Tk 3.0 million was sold at this year’s fair.

Source: http://today.thefinancialexpress.com.bd/trade-market/honey-fetches-tk-30m-at-bee-fair-1552409744

Mr. Abed Khan became new PIB Chairman

The Government has appointed daily Jagoran Editor Abed Khan as the Chairman of the board of Directors of Press Institute of Bangladesh (PIB).

Source: http://today.thefinancialexpress.com.bd/politics-policies/abed-khan-made-new-pib-chairman-1552414072

BGB recover 40,000 Yaba tablets in Chapainawabganj

53 battalion of Border Guard Bangladesh (BGB) seized 40,000 pieces of yaba tablet from frontier Bisrashia field area under Shibganj upazila in the district on Tuesday morning.

Source: http://today.thefinancialexpress.com.bd/country/bgb-recover-40000-yaba-tablets-in-chapainawabganj-1552403202

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
FTSE1007,151.15 ↑20.53↑0.29%
Nikkei 22521,231.34↓272.35↓1.27%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 57.05↑0.18↑0.32%
Crude Oil (Brent)$ 66.73 ↑0.06↑0.09%
Gold Spot $1,304.91↑3.33↑0.26%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 84.0524
GBP 1BDT 110.0246
EUR 1BDT 94.8783
INR 1BDT 1.2058





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,

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Dhaka Bank Limited