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 November 02 2016

Foreign funds in Dhaka stocks soar

Net foreign investment in the capital market jumped more than nine times year-on-year in the first ten months of the year as overseas investors were anticipating a positive market scenario. Foreign investors bought shares worth BDT 40.0 billion and sold shares worth BDT 31.7 billion to take their net investment for the January-October period to BDT 8.0 billion. A year earlier, the net investment by foreigners stood at BDT 830.0 million, according to Dhaka Stock Exchange data. Positive macroeconomic indicators and a stable political scenario boosted the foreign investors’ confidence to increase their positions in the Bangladesh stockmarket, said an analyst.


19 firms seek to raise BDT 10.3 billion

IPO proposals coming from 19 public limited companies (PLCs) are now awaiting approval of the Bangladesh Securities and Exchange Commission (BSEC).The PLCs seek to raise an aggregate amount of BDT 10.3 billion under both the book building and fixed price method. These companies will float initial public offerings (IPOs) under the revised Public Issue Rules. Among the PLCs, 10 companies have submitted IPO proposals by completing road shows to raise an aggregate amount of BDT 7.1 billion under the book building method. On the other hand, nine companies have submitted proposals to raise capital worth BDT 3.2 billion under the fixed price method. Aamra Network, STS Holdings, Dhaka Regency Hotel and Resort, Bashundhara Paper Mill, Aman Cotton Fibrous, Runner Automobiles, Popular Pharmaceuticals, Delta Hospital, Bengal Poly and Paper Sack and Index Agro Industries will raise money through book building method. On the other hand IfCO Garments & Textiles, Shepherd Industries, Nurani Dyeing & Sweater, Intraco Refueling Station, Oimex Electrodes, Amulet Pharmaceuticals, BBS Cables, Nahee Aluminum Composite Panel and Indo-Bangla Pharmaceuticals will raise money through fixed price method.

Source: http://print.thefinancialexpress-bd.com/2016/11/02/155642

Exports of processed food on the rise

The demand for processed and packaged food from Bangladesh is fast growing in Africa and the Middle East, home to millions of migrant workers, industry operators said. At least nine companies are exporting their food products — confectionaries and beverages — to different Middle Eastern and African nations, and some European countries such as France, Italy, Germany and the UK. The companies are: Pran, Sajeeb, ACI, Alin Foods, Partex, Globe Soft Drinks, Bombay Sweets, Star Line Food Products and Akij Foods. Altogether, the companies earned nearly BDT 20.0 billion from exports in fiscal 2015-16. Pran alone accounted for three-fourths of the sum: BDT 14.0 billion. Sajeeb Group’s export growth was 40.0 to 50.0% per year over the last 10 years, according to its Chairman and Managing Director MA Hashem. Currently, Sajeeb ships to around 50 countries and one-fourth of its total income comes from exports. Pran exports to 130 countries, including 40 African countries, all Middle-Eastern countries, India, Malaysia, Australia, the UK, France, Italy, Canada and the US. Export of ACI Consumer Brands, a concern of ACI, is also growing fast.

Source: http://www.thedailystar.net/business/exports-processed-food-the-rise-1308166

Chinese-funded big power projects taken posthaste

Two public-sector power entities, Power Grid Company of Bangladesh (PGCB) and Dhaka Power Distribution Company Ltd (DPDC), have sought ‘post-facto’ approval for a couple of major power-transmission and-distribution projects from the Planning Commission (PC). The agencies have already signed contracts with two Chinese firms for implementation of the projects. Sources said project-implementing agencies are yet to know about the terms and conditions of the Beijing-offered loans for their projects. An official concerned said as per government rules, such development projects have to pass through PC or ECNEC before going for any purchase or contract. Under government-to-government (G2G) format, the project-implementing agencies, namely Power Grid Company of Bangladesh (PGCB) and Dhaka Power Distribution Company Ltd (DPDC), have signed two deals with Chinese contractors without tender.

Source: http://print.thefinancialexpress-bd.com/2016/11/02/155632

China agrees to limited bidding for projects

China has at last agreed to allow limited bidding for the selection of contractors for projects under its soft loan after a year’s persuasion by Bangladesh, a finance ministry official said. At present, for projects financed with Chinese soft loans, Beijing puts forward a contractor and Dhaka has to implement the project by that company. In such cases, the purchase value is not competitive. Often, the price was lowered through negotiation only for it to be revised upwards later. At present, Bangladesh applies the limited bidding method for India, which allows only Indian companies to participate in the tender for projects supported with New Delhi’s soft loans of USD 3.0 billion. But from now onwards, Beijing will forward a short-list of Chinese companies and Dhaka will run the limited tendering among the candidates as per the rules of Bangladesh.

Source: http://www.thedailystar.net/business/china-agrees-limited-bidding-projects-1308163

UK keen to invest in special economic zones

The Bangladesh government has taken initiatives to establish 100 SEZs to draw foreign and local investments. It also offers SEZs to every individual country to boost foreign direct investment (FDI). Last year Bangladesh witnessed a total of USD 2.2 billion FDI inflow in different sectors. The DFID director talked about the offer at a meeting with Commerce Minister Tofail Ahmed at his office in Dhaka yesterday. British High Commissioner in Dhaka Alison Blake was present at the meeting along with other visiting delegates. The United Kingdom is strengthening trade relationship with its key partners in the world, and Bangladesh is a key business partner, he added.

Source: http://www.dhakatribune.com/business/2016/11/02/uk-keen-invest-special-economic-zones/

Local and Global Stock Indices

Index NameClose ValueValue ChangePercentage Change
Dow Jones Industrial Average18,037.10↓105.32↓0.58%
Nikkei 2256,917.14↓37.08↓0.53%
FTSE 10017,200.61↓241.79↓1.39%

World Commodities

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)*$46.29↓0.38↓0.81%
Crude Oil (Brent)*$47.83↓0.31↓0.64%
Gold Spot*$1,290.09↑1.89↑0.15%

Major Currencies Exchange Rates Movement in Last Seven Days






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