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 May 07, 2019

Parent Companies of GP, Robi in merger talks

Norwegian Telenor Group, parent Company of Bangladesh’s leading mobile operator Grameenphone, and Malaysia-based Axiata, parent Company of another mobile operator Robi, are in negotiation to merge their Asia operations, keeping GP in and Robi out of the merged company. Officials of both Companies talks on a potential non-cash merger of their telecom and infrastructure assets in Bangladesh and eight other Asian countries to serve nearly 300 million customers using approximately 60,000 towers. Telenor and Axiata after a successful negotiation would form a ‘MergerCo’ to have operational headquarters in Malaysian capital of Kuala Lumpur. Robi, however, in a statement clarified that it would not be part of the proposed merger and would remain a direct subsidiary of Axiata’s post completion of the proposed transaction with Telenor. In Bangladesh MergeCo will own majority shares (55.8 per cent) of Grameenphone, a listed company, with minority shares (34.2 per cent) to be held by local Grameen Telecom and general investors (10 per cent).

Source: http://www.newagebd.net/article/71650/parent-cos-of-gp-robi-in-merger-talks

Look beyond WTO for post-LDC benefits: official

According to the WTO official, Bangladesh needs to work with some alternative organisations of World Trade Organization (WTO) to continue enjoying trade privileges once its status graduates to a developing country from a least developed one. Bangladesh’s status is scheduled to finally graduate in 2027 when it would lose trade privileges and face duties on export. Monique Van Daalen, chairperson of the WTO sub-committee on least developed countries (LDCs), suggested that Bangladesh can look forward to the United Nations Conference on Trade and Development (UNCTAD) and the Enhanced Integrated Framework (EIF) for SDGs to find new opportunities beyond WTO.

Source: https://www.thedailystar.net/business/news/look-beyond-wto-post-ldc-benefits-official-1739914

Bangladesh a lucrative destination for Investors

According to the top official of JTI, the entry of Japan Tobacco International (JTI) into Bangladesh through its $1.47 billion acquisition of Akij Group’s tobacco business would attract more international investors to the country. As per Jorge Da Motta, regional President of JTI for the Asia-Pacific, the acquisition should give a strong signal to international investors that Bangladesh is a place to do business and make investment. In November last year, Japan Tobacco, the third largest publicly traded tobacco company in the world, completed the acquisition, which is the biggest-ever single foreign direct investment in Bangladesh.

Source: https://www.thedailystar.net/business/news/bangladesh-lucrative-destination-investors-1739911

Pharma ingredient makers get VAT exemption

National Board of Revenue has exempted local producers of active pharmaceutical ingredients (API) from VAT payment on imported raw materials. API industries will enjoy the benefits for more than six years up to December 2025. NBR VAT wing on April 30 issued a statutory regulatory order offering the exemption on fulfilment of some conditions, including producing at least five new molecules at every calendar year. NBR offered the benefits following application of Bangladesh API and Intermediaries Manufacturers Association seeking tax benefits under the National Active Pharmaceutical Ingredients (API) and Laboratory Reagents Production and Export Policy 2018.

Source: http://www.newagebd.net/article/71653/pharma-ingredient-makers-get-vat-exemption

SME sector can ease unemployment problem

Amid the growing unemployment problem in Bangladesh, the Small and Medium Enterprise (SME) sector can be an effective tool to solve the problem provided it gets necessary support to flourish. There is no alternative now to creating skilled manpower through technology-based education and putting emphasis on the SME sector. A large number of educated youths are now unemployed in the country. As per the Bangladesh Bureau of Statistics (BBS), country’s unemployment rate has increased from 4.35 per cent in 2016 to 4.37 per cent in December 2017. About 2.0 million young people join every year the country’s workforce.

Source: http://today.thefinancialexpress.com.bd/trade-market/australia-ilo-to-support-rmg-workplace-safety-programme-1557085295

Women’s freelancing platform launched

Valerejobs.com, a freelancing platform dedicated to women, has recently been launched. According to IT and engineering firm Valere Enterprise said the platform uses a smart resume to help analyse core competencies and soft skills to evaluate strengths and areas of excellence. The site also promotes a merit based system to form an efficient global society that can face challenges of the fourth industrial revolution

Source: https://www.thedailystar.net/business/news/womens-freelancing-platform-launched-1739887

ATC Unit Fund declares 12.0pc cash dividend

ATC Shariah Unit Fund, an open-end Islamic Mutual Fund, managed by Asian Tiger Capital Partners Asset Management Limited (ATCP AML), declared a 12.0 per cent cash dividend for 2018-19. On 02 May 2019, The Trustee Committee of the fund approved the audited financial statements for the year ended on 31 March 2019 and approved 12.0 per cent cash dividend. The declaration represents a payout ratio of 70 per cent and a dividend yield of 11.8 per cent based on investor’s purchase price of BDT 10.17 per unit which is also the market-based NAV on 05 May 2019.

Source: http://thefinancialexpress.com.bd/stock/bangladesh/atc-unit-fund-declares-120pc-cash-dividend-1557118115

Five killed in ‘gunfights’ with law enforcers

Five people, including two suspected Rohingya drug traders, were killed in separate “gunfights” with law enforcers in Cox’s Bazar and the Sundarbans. In Cox’s Bazar, a “gunfight” between the alleged drug traders and police left two Rohingya men dead in Leda camp area of Teknaf around 2:00am.

Source: https://www.thedailystar.net/backpage/news/five-killed-gunfightswith-law-enforcers-1739722

MIDAS Financing gets new MD

Mustafizur Rahman has recently joined MIDAS Financing as Managing Director. The board of directors appointed him at a 302nd meeting in February and he took charge from Md Atiar Rahman Ansary on May 2.

Source: https://www.thedailystar.net/business/news/midas-financing-gets-new-md-1739857

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA26,438.48 ↓66.47↓0.25%
Nikkei 225 22,060.00↓198.73↓0.89%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI) $ 62.31↑0.06↑0.10%
Crude Oil (Brent)$ 71.16↓0.08↓0.11%
Gold Spot $1,282.784 ↑1.68↑0.13%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 82.6127
GBP 1BDT 108.2890
EUR 1BDT 92.4733
INR 1BDT 1.1894





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