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 15, 2016

Bangladesh Bank Governor faces heat

Bangladesh Bank Governor Atiur Rahman yesterday faced criticism from government high-ups and a number of ruling party leaders for “incompetent handling” of the cyber theft. Finance Minister AMA Muhith was furious, and hinted that the top management of the BB may see changes as the fallout of the theft of USD 101.0 million from the BB account with the New York Federal Reserve Bank. “We are going to make a major decision,” he told reporters at the secretariat after the weekly cabinet meeting yesterday. Asked what the major decision would be, Muhith said, “Definitely, there will be a major change.” The minister made the comment in response to a query whether the government would take any action against the BB. The BB governor has been criticized particularly for keeping the government in the dark about the matter for more than a month. Questions were raised over Atiur’s decision to travel to New Delhi to attend an event of the International Monetary Fund at a time when mysteries around the cyber theft were unfolding.

Source: http://www.thedailystar.net/frontpage/changes-likely-central-bank-management-791494

July-January Foreign Direct Investment rises over 30.4%

Bangladesh received over USD 1.22 billion net Foreign Direct Investment (FDI) in the first seven months (July-January) of the current fiscal year. The amount is 30.4% more than the net FDI received in the same period in 2014-15 financial year, reports bdnews24.com. Finance Minister AMA Muhith has credited the ‘strong’ base of Bangladesh’s economy and the ‘stable’ political condition for the rise in FDI despite global recession. “The rise in FDI means that an environment of investment has been created in the country. Bangladesh is getting attractive to the foreign investors,” he said. The minister said the continuous GDP growth of over 6.0% has added gloss to Bangladesh’s image. “It has positively affected the foreign investment,” Mr Muhith said. Analyst Zaid Bakht, however, is ‘not happy’ with domestic investment. According to Bangladesh Bank, the net FDI was USD1.7 billion in 2014-15 fiscal year and a little over USD 1.43 billion in 2013-14.

Source: http://print.thefinancialexpress-bd.com/2016/03/15/136544

Telcos losing customers for biometric SIM registration

The telecom sector is going through a rough patch for the second consecutive month as operators are losing customers after the government mandated fingerprint re-registration for all SIMs. In the first two months of 2016, mobile phone operators lost 1.97% of their active connections that dropped to 131.1 million at the end of February, according to Bangladesh Telecommunication Regulatory Commission’s monthly report published yesterday. Although the number of active SIMs declined, active internet connections saw 7.76% growth in these two months. As of February, the number of active internet connections stood at 58.3 million, which was 54.1 million at the end of 2015. All five private operators saw their active connections drop in January and February, following the government’s move to make the biometric verification mandatory for all users. For the same reason, people are not buying new SIMs either. The industry began the year with 133.7 million active SIMs and lost 2.6 million in the first two months.


Government to conduct feasibility on Maheshkhali coal power plant

Aiming to set up another coal-fired power plant in Maheshkhali of Cox’s Bazar district, the government has launched a project to conduct feasibility study and environmental assessment, reports BSS. Bangladesh and Singapore would jointly set up the 700 MW ultra-super critical coal-based power plant involving USD 1 billion. “We will conduct a study to assess the viability and environmental impact to implement the project minimizing all the probable impacts,” said planning minister A H M Mustafa Kamal. Apart from the study, necessary land would also be acquired for the power plant, he added. The planning minister informed that Executive Committee of the National Economic Council (ECNEC) has already cleared the project; “land acquisition, protection and feasibility study for Bangladesh-Singapore 700 MW ultra-super critical coal-based power plant with BDT 7.46 billion”.

Source: http://print.thefinancialexpress-bd.com/2016/03/15/136543

Australia to provide LNG related support: State minister for power, energy and mineral resources

Australian High Commissioner in Dhaka Gregory A Wilcock expressed his country’s interest to provide LNG related support along with training as Bangladesh is going to set up LNG terminal, state minister for power, energy and mineral resources Nasrul Hamid said, reports BSS. The state minister said the Australian government wants to export Liquefied Natural Gas (LNG) and set up LNG terminal in Bangladesh. At the meeting, Mr Wilcock invited the state minister and government officials to join the 18th International Conference & Exhibition on Liquefied Natural Gas (LNG). The conference and exhibition would be held on April 11-15, 2016 in Perth, Australia. According to the LNG conference, the Prime Minister of Australia, Malcolm Turnbull, will open LNG 18 in Perth in April this year – the biggest LNG conference and exhibition ever held in Australia and the world’s largest event on 2016 global LNG calendar.

Source: http://print.thefinancialexpress-bd.com/2016/03/15/136545

UK air shipment ban hits exporters hard

The UK’s restriction on direct air shipment from Bangladesh continues to take its toll on the country’s exporters, especially those of vegetables and allied products as well as emergency apparel shipments, industry insiders said. Without specifying the losses faced by them, the exporters said they send around 70-80 tonnes of different products to the UK in a week through direct flights of Biman Bangladesh Airlines. “But, now we cannot make any direct shipment of urgent products, including samples of apparel items,” said Bangladesh Garment Manufacturers and Exporters Association (BGMEA) president Md Siddiqur Rahman. The exporters are now using indirect routes for sending their products, facing re-screening. He expressed fear that they might be charged for the re-screening, which takes much time than usual. Air shipments are mainly made if shipments are delayed or there is urgency from buyers. Some 10-15% of the total apparel exports are shipped by air annually, Mr Rahman added.


World Stock and Commodities

Index NameClose ValueValue ChangePercentage Change
Crude Oil (WTI)*$37.00(0.18)(0.48%)
Crude Oil (Brent)*$39.24(0.29)(0.73%)
Gold Spot*$1,227.65(7.62)(0.62%)
Dow Jones Industrial Average17,229.13+15.82+0.09%
Nikkei 22517,226.29(7.46)(0.04%)
FTSE 1006,174.57+34.78+0.57%

Exchange Rates

USD 1BDT 78.41*
GBP 1BDT 111.93*
EUR 1BDT 87.08*
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