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, 2020

Car manufacturing in Bangladesh: preparing for the next biggest industry after apparel

Bangladesh will soon start manufacturing cars, that too electric ones, according to a news report published in The Daily Star with the headline “Local firm to set up a $200m plant to make electric vehicle” in July last year. Presently the country has 12 million people of the medium-income generating affluent bracket and this segment of the population is growing very fast — by 10 per cent a year. Meanwhile importing automobiles requires paying import duties ranging from 130 per cent to 850 per cent. This inevitably results in some consumers not getting their desired vehicles within their affordability. Automobile density, which is the number of vehicles per unit length of the roadway, in Bangladesh is as low as 0.5 per cent, when the global average is 12 per cent. The Bangladesh Economic Zones Authority (Beza) has been selecting locations in different districts all over the country for special economic zones. Bangabandhu Industrial Park is an industrial town being built on 30,000 acres of land by the river Feni. This industrial city is being set up on the west side of Mirsarai. This industrial park is expected to generate 1.5 million jobs. In the next 25 years, 1.5 billion new generation smart vehicles will be manufactured in the world. The smart vehicles’ market size is $30 trillion. While the BAIL is preparing to manufacture two, three and four wheeler EVs, its sister concerns are gearing up to manufacture lithium-ion batteries, motors, controllers and chargers. These are crucial components of EVs. Thus, it is a 360-degree EV manufacturing ecosystem in development. However, the NSDA should prepare plans not only for the human resource just entering the job market but also those intending to make a switch over apprehensions their existing sector might come to be abandoned eventually.

Source: https://www.thedailystar.net/business/news/car-manufacturing-bangladesh-preparing-the-next-biggest-industry-after-apparel-1880917

Coronavirus hits clothing business

As virus-wary shoppers stayed home in the United States and Europe, apparel retailers braced for a blow to sales and a potential inventory glut. Some slashed orders at readymade garment (RMG) factories while others began discounting merchandise. In Europe, Zara owner Inditex said on Friday it would temporarily close stores in the areas of Spain worst affected by the novel coronavirus, including Madrid. Kohl’s Corp said it had experienced softer demand, especially in areas most affected by coronavirus. On Thursday, Gap Inc. said it expected a $100 million revenue hit this quarter due to the new coronavirus outbreak. In China, the country where the first new coronavirus case was detected and most fatalities happened, consumer demand has remained a major concern even as shoppers have begun to venture out of quarantine. Further up the supply chain in Bangladesh, the world’s second-biggest apparel manufacturer after China, brands are asking for cuts in orders of up to 30 per cent and seeking discounts, said Rubana Huq, head of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA). Luxury leather goods maker Salvatore Ferragamo, known for its Vara shoe and Ferragamo Studio bag.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/coronavirus-hits-clothing-business-1584199183

Training on setting up new business held

A two-day training course on creating new entrepreneurs concluded in the city on Saturday. A total of 16 business professionals took part at the training on ‘How to Establish a New Business’, organised by DCCI Business Institute at its office. Chief Financial Officer of Rahimafrooz Bangladesh Limited Mohammad Zahid Hossain and Professor of Finance Department at United International University Dr. Md Mohan Uddin conducted the training as resource persons. The aim of the training was to help broaden the mental horizon of the professionals and make them conversant with very important issues of establishing a new business. DCCI Vice-President Bashiruddin said most of the entrepreneurs are not adequately prepared for going into business despite having motivation, desire and talent.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/training-on-setting-up-new-business-held-1584199042

Banker – SME Women Entrepreneur and Product Display- 2020

Bangladesh Bank Governor Fazle Kabi gave an award to Managing Director & CEO of Agrani SME Financing Company Ltd Md Nurul Haque at the closing ceremony of ‘Banker – SME Women Entrepreneur and Product Display- 2020’ at Bangladesh Bank Training Academy in the city recently. Agrani SME Financing Company, an NBFI owned by Agrani Bank Limited, got the award for its contribution to development of cottage, micro, small and medium enterprises in the country.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/bangladesh-bank-governor-fazle-kabir-3rd-from-r-giving-away-an-award-to-managing-director-ceo-of-agrani-sme-financing-1584199255

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DSEX4,129.96194↓ 101.52574↓ 2.93 %
↑ 1,985.00↑ 9.36 %
FTSE1005,366.11↑ 128.63↑ 2.46 %
Nikkei 22517,431.05↓ 1,128.58↓ 6.08 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 31.73 ↑ 0.23↑ 0.73 %
Crude Oil (Brent)$ 33.85 ↑ 0.63↑ 1.90 %
Gold Spot$ 1,529.84 ↓ 46.31↓ 2.94 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 83.2518
GBP 1BDT 102.147
EUR 1BDT 92.4128
INR 1BDT 1.12439





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