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 23, 2019

DSE, CSE rebound after ICB received Tk 7.60 billion

Stocks posted marginal gain on Wednesday as investors showed their buying appetite on sector-wise shares after the Investment Corporation of Bangladesh received Tk 7.60 billion from the Central Bank. According to market analysts, the stocks rebounded after the news that the ICB received the money from the Bangladesh Bank under the capital market refinancing scheme. The market opened on positive note and the upturn continued until end of the session amid modest volatility. At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 14.09 points or 0.26 per cent to settle at 5,250. Two other indices also edged up. The DS30 index, comprising blue chips, advanced 7.53 points to finish at 1,830 and the DSE Shariah Index rose 1.31 points to close at 1,196.

Source: https://thefinancialexpress.com.bd/stock/dse-cse-rebound-after-icb-received-tk-760-billion-1558517028

BB doubles deferred payment period for Power Companies

According to the official, the Central Bank has doubled the deferred payment period for import of raw materials only for the power generating enterprises to help ease the pressure on foreign exchange market. Under the relaxation, importers are now allowed up to 360 days instead of 180 days to settle the deferred payment for import of raw materials for power generation. A notification issued by Bangladesh Bank stated, to facilitate power sector industry, it has now been decided to enhance usance period up to 360 days from 180 days for import of raw materials in the case of power generating enterprises only and other instructions in this regard will remain unchanged. As per a senior BB official, they relaxed the regulations for the benefit of power producers, particularly for those in the private sector.

Source: http://today.thefinancialexpress.com.bd/first-page/bb-doubles-deferred-payment-period-for-power-companies-1558547989

Rice Import: Govt doubles duty to 55pc

The National Board of Revenue recently doubled the import duty on rice to discourage importers, as tens of thousands of farmers are incurring losses with paddy prices plummeting in the year’s biggest season, Boro. Importers from now on would have to pay 55 percent duty and tax to bring in the cereal. It was 28 percent earlier, according to a statement issued by the revenue authority. The NBR kept intact the customs duty at 25 percent but increased regulatory duty to 25 percent from 3 percent and introduced 5 percent advance income tax on rice imports.

Source: https://www.thedailystar.net/frontpage/news/rice-import-govt-doubles-duty-55pc-1747612

DSE to hunt down Sponsors who sell shares without notice

The Dhaka Stock Exchange (DSE) will track down the sponsors of listed companies who sold off their stakes without any prior notice, in one of the several measures it is taking to regain investor confidence. The sudden dumping of shares by the Sponsors impacted the general investors. The Sponsors’ names will be sent to the stock market regulator for punitive action. Also at recent meeting, a committee was formed — comprising three members from the DSE, Chittagong Stock Exchange, DSE Brokers’ Association and Bangladesh Merchant Bankers’ Association — to work jointly to tackle any problem the market faces.

Source: https://www.thedailystar.net/business/news/dse-hunt-down-sponsors-who-sell-shares-without-notice-1747516

Govt to provide Tk 30b for agricultural mechanisation

According to the Agriculture Minister Dr Md Abdur Razzaque, the government will spend Tk 30 billion as subsidy for the mechanisation of agriculture work as finding agricultural labour is a problem now-a-days. The Minister also added, Finding workers in agricultural work have become a problem at present time so we started mechanisation of agriculture sector and Tk 30 billion will be spent as subsidy to this end.

Source: https://thefinancialexpress.com.bd/national/govt-to-provide-tk-30b-for-agricultural-mechanisation-1558527924

New AMD of UCB

Mr. Syed Faridul Islam has recently joined United Commercial Bank Limited as the Additional Managing Director. Prior to joining UCB, he was the Deputy Managing Director & Chief Risk Officer of Prime Bank looking after on Credit, Information Security, Credit administration and Risk Management division of the Bank.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/new-amd-of-ucb-1558545856

Ten most-traded Companies capture 29pc turnover

Ten most-traded Companies captured more than 29 per cent transaction of the Dhaka Stock Exchange (DSE) on Wednesday while Fortune Shoes topped the chart. According to market insiders, investors continued to show their appetite on Fortune Shoes shares after the Company posted a 35 per cent earnings growth in January-March, 2019 quarter disclosed recently. The Company’s earnings per share (EPS) stood at Tk 0.54 for January-March 2019 as against Tk 0.40 for January-March 2018.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/ten-most-traded-cos-capture-29pc-turnover-1558545696

Ctg Chamber gets new Director

Mr. Tazmeem Mostafa Chowdhury, Director of Standard Bank Capital Management Limited, has been elected as the Director of Chattogram Chamber of Commerce & Industry. He is also Managing Director of Shawon Shipping Lines Ltd and Managing Director of Invoca Bangladesh Ltd.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/tazmeem-elected-director-of-ctg-chamber-1558545902

EBL reappoints Ali Reza Iftekhar as Managing Director

Eastern Bank Limited (EBL) has reappointed their Managing Director and Chief Executive Officer (CEO) Ali Reza Iftekhar for another three years. Mr. Iftekhar has been serving the bank in this position since 2007. In his career of 34 years, he has worked in important positions in local private and international banks including Banque Indosuez, Standard Chartered Bank, and AB Bank.

Source: https://thefinancialexpress.com.bd/trade/ebl-reappoints-ali-reza-iftekhar-as-managing-director-1558520131

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA25,776.61 ↓100.72 ↓0.39%
Nikkei 225 21,084.62↓198.75↓0.93%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 61.07↓0.35↓0.57%
Crude Oil (Brent) $ 70.65↓0.34↓0.48%
Gold Spot $1,274.25↑0.91 ↑0.07%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 82.8391
GBP 1BDT 105.0160
EUR 1BDT 92.4409
INR 1BDT 1.1871





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