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 08, 2019

Garment exports to US up 10pc

Garment exports to the US increased 10.10 percent year-on-year to $1.08 billion in the first two months of the year, with the shipments expected to grow exponentially if 25 percent duty on Chinese imports comes into effect. If that materialises, many international retailers will look to Bangladesh as an alternative sourcing destination. Apparel was not in the list of the items subjected to US President Donald Trump’s retaliatory 25 percent duty last year, but on Friday the US President announced 25 percent duty on $200 billion worth Chinese imports that include garment items. According to the Senior Vice-President of BGMEA, Such announcement will encourage US retailers to consider Bangladesh.

Source: https://www.thedailystar.net/business/news/garment-exports-us-10pc-1740421

Plan to export 1.0m tonnes of surplus Boro rice

According to the Agriculture Minister Abdur Razzaque, the government is planning to export around 1 million tonnes of surplus Boro rice after meeting the domestic demand. The Minister also added, the government will hold a discussion with stakeholders in the next 15 to 20 days after the harvest of the crop to determine whether 0.5 to 1.0 million tonnes of Boro rice can be exported this year.

Source: https://thefinancialexpress.com.bd/economy/plan-to-export-10m-tonnes-of-surplus-boro-rice-1557226443

Bangladesh self-sufficient in billet production

Bangladesh has become self-sufficient in billet manufacturing on the back of huge investment made by large steel mills, which bumped up their production capacity for the key raw material of steel products. According to the Md Shahidullah, secretary general of Bangladesh Steel Manufacturers Association (BSMA), five years ago steel mills had to import half the total requirement for billet to make steel to feed the domestic market. Local mills now produce around 60 lakh tonnes of billet annually, enough to manufacture 55 lakh tonnes of high-quality rods. The expansion spree by the BSRM, Abul Khair Steel, GPH Ispat, KSRM, Metrocem and Anwar Ispat in recent years has enabled the country to reduce its reliance on imports for billet.

Source: https://www.thedailystar.net/business/news/bangladesh-self-sufficient-billet-production-1740427

MTB launches two SME products

Mutual Trust Bank Limited (MTB) has recently launched two SME products – ‘MTB Shachal’ and ‘MTB Supply Chain Finance’. MTB Director and Founding Chairman, Syed Manzur Elahi inaugurated the event. ‘MTB Shachal’ is a termination loan facility for purchasing commercial vehicle for smooth operation of the SME Business such as transportation of executives/employees/sponsors and carrying goods etc. ‘MTB Supply Chain Finance’ is a short term loan under revolving nature limit which allows a supplier to avail credit facility from the bank for smooth operation of business during the bridge period between execution of supply and payment of the bill.

Source: https://thefinancialexpress.com.bd/trade/mtb-launches-two-sme-products-1557210781

Green Delta Insurance signs MoU with CARE Bangladesh

Green Delta Insurance Ltd. has signed a memorandum of understanding (MoU) with CARE Bangladesh’s Krishi Utsho Microfranchise recently for initiating non-traditional financing (NTF) scheme for rural smallholder farmers of Bogra and Jessore. This initiative is expected to ensure secure farming for rural smallholder farmers through insurance coverage at their doorsteps. This is a pilot that is being initiated by Green Delta Insurance Limited and CARE Bangladesh with funding from MEDA (Mennonite Economic Development Associates), Canada.

Source: https://thefinancialexpress.com.bd/trade/green-delta-ins-signs-mou-with-care-bangladesh-1557215918

Mr. Musa elected Chair, Mr. Zoynal Vice-Chair of Central Insurance

Mohammed Musa and Zoynal Abedin Chowdhury were elected chairman and vice-chairman of Central Insurance Company respectively for two years. Musa is the managing director of Madina Garmesnts, executive director of Silkway Fashion and a director of BGMEA.

Source: http://www.newagebd.net/article/71745/musa-elected-chair-zoynal-vice-chair-of-central-ins-co

Most ten-traded Companies snare 32pc turnover

Top ten-traded firms captured nearly 32 per cent transaction of the Dhaka Stock Exchange (DSE) on Tuesday while Fortune Shoes continued to top the chart. According to the market analyst, investors were active on both sides of Fortune Shoes shares after the company posted a 35 per cent earnings growth in January-March, 2019 quarter.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/most-ten-traded-cos-snare-32pc-turnover-1557244619

CIMA celebrates centenary year

Chartered Institute of Management Accountants (CIMA) with 237,000 members and students operating in 184 countries, working at the heart of business, celebrated its centenary year in Dhaka. CIMA, the world’s largest body of management accountants, will however, globally celebrate its 100th birthday on 8th March, 2019.

Source: https://thefinancialexpress.com.bd/trade/cima-celebrates-centenary-year-1557211722

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA25,965.09 ↓473.39↓1.79%
Nikkei 225 21,577.23↓346.49↓1.58%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI) $ 61.87↑0.47↑0.77%
Crude Oil (Brent)$ 70.26↑0.38↑0.54%
Gold Spot $1,286.85 ↑2.42↑0.19%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 82.8306
GBP 1BDT 108.3670
EUR 1BDT 92.7171
INR 1BDT 1.1901





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