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 04, 2018

BD may get ‘competitive’ edge: BB assessment

The ongoing US-China trade tension may create a short-term “competitive advantage” for Bangladesh in both import and export sectors, according to an assessment of the Bangladesh Bank. But the central bank, in the quarterly assessment report published last week, made it clear the potential gain will depend on addressing infrastructural and financial issues. Bangladesh is likely to gain competitive advantage for this segment of export products. But it will depend on how Bangladesh addresses the issues such as infrastructural changes, competition from other countries, financing readiness, skilled labor shortage, and depreciation of the Chinese currency. About 7.0 per cent of the country’s total current exports are found identical to those of China that faced US tariff. China’s 6,831 export products worth US$ 250 billion are now under US tariff. Of these, 75 Bangladesh products are of the same HS code, which is valued at $ 2.27 billion. Some 33 per cent of the country’s total import items are identical to Chinese exports under US Tariff, which is 37 per cent in the case of similar products. The Trump administration has so far imposed tariff up to 10 per cent on the Chinese products, which may be increased to as high as 25 per cent by January 2019. The BB report said China’s strategy to maintain the market share through productivity gain cannot be ignored. For Bangladesh, productive capacity change may be somewhat difficult for the time being. But different alternative management may be possible, for example, increasing production shift, coordinating with small-manufacturers, etc.

Source: http://today.thefinancialexpress.com.bd/first-page/bd-may-get-competitive-edge-bb-assessment-1541263973

NBR will honour 656 taxpayers

The National Board of Revenue (NBR) will honour some 656 taxpayers across the country as recognition of their payment of income tax for Fiscal Year (FY) 2017-18. Of them, some 141 taxpayers will receive tax cards under three categories at the national level while 370 taxpayers will get tax cards as top taxpayers and 145 as long-term taxpayers at the district level. The NBR has published a gazette, dated November 1, 2018, containing the names of the top taxpayers. Of the 141 national level tax-card holders, the NBR has selected about 76 individuals and 55 companies. Top taxpaying businessmen, lawyers, journalists, physicians, artists, singers, banks and non-banking financial institutions, leather and footwear industries, engineers, architects, accountants, players, telecommunications companies, food and beverage companies, energy, jute, spinning and textile, pharmaceuticals and chemical industries, real estate companies, readymade garments, firms, local authority will receive tax cards at the national level. Among the district-level highest taxpayers, Rupali Chowdhury of Berger Paints, Salahuddin Kasem Khan of AK Khan and Company Limited, Latifur Rahman of Transcom Group and Abdul Muktadir of Incepta Pharmaceuticals will receive the honour. Young taxpayers below 40 years and women taxpayers will also receive tax cards as highest taxpayers. This honour was given in different categories.

Source: http://today.thefinancialexpress.com.bd/first-page/nbr-will-honour-656-taxpayers-1541264093

BMW brings plug-in hybrids

BMW yesterday launched three plug-in hybrid vehicles in Bangladesh. The BMW 530e, BMW 740Le xDrive and BMW X5 xDrive40e are characterised by a combination of an electric motor and a “highly efficient and sporty” engine. BMW has reached a milestone today in Bangladesh by offering customers a range of BMW iPerformance models with electrified drivetrains. BMW looks forward to providing our customers with the opportunity to better the environment while experiencing an entirely new dimension of pure driving pleasure with the power of electro-mobility. These iPerformance models can achieve “excellent fuel efficiency yet provide dynamic performance” and “high operating range” while combining an electric driving experience with functional excellence and everyday practicality. All iPerformance models come with five years of free service, parts, maintenance and repair.

Source: https://www.thedailystar.net/business/news/bmw-brings-plug-hybrids-1655956

Modhumoti Bank holds half-yearly agent banking biz conference

The Half Yearly Agent Banking Business Conference- 2018 of Modhumoti Bank Limited was held on Saturday at DCCI Auditorium & Business Lounge, said a statement. During the conference, all KPI’s up to June 2018 of Modhumoti Agent Banking were thoroughly discussed and the bank set a Strategic Business Plan for the rest time of the year 2018 to achieve the target. Modhumoti Bank took the initiative of Agent Banking through signing an agreement with the programme Access to Information (a2i) of Prime Minister’s Office, where the entrepreneurs of Union Digital Center (UDC) shall be the Agent of the Bank. Now Modhumoti Bank is providing banking services like Account Opening, Cash Deposit, Cash Withdrawal, Money Transfer, Balance Inquiry, Withdrawal of Foreign Remittance etc. under “Modhumoti Digital Banking” through 281 UDC Agent Points.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/modhumoti-bank-holds-half-yearly-agent-banking-biz-confce-1541257916

BRAC Bank, Pathao sign deal

BRAC Bank Limited and Pathao Limited have signed an agreement to finance motorbikes for rider. This is the first collaborative rider financing in the country involving a bank and a ride sharing company. Under the agreement, BRAC Bank will provide loans to Pathao riders. The easy access to financing will help Pathao increase its pool of bikers and provide more convenience to the commuters. The collaborative financing will also help generate employment especially among Bangladesh’s youth. Mr. Nazmur Rahim, Head of Retail Banking, and Mr. Hussain M. Elias, Chief Executive Officer, Pathao Limited, signed the agreement at a program at BRAC Bank Head Office recently.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/brac-bank-pathao-sign-deal-1541257118

IDLC awards first Finance Olympiad Champions

The final gala round of the first ever Finance Olympiad organised by non-banking financial institute IDLC Finance Limited was held at Krishibid Institution Bangladesh in the city recently. More than twenty thousand students registered and participated in the online finance Olympiad from 10 October to 25 October, 2018 at the end of which 50 deserving contestants were shortlisted for the offline round. Later 24 contestants competed for the champion’s title in two groups, in front of a live audience. Being part of the financial sector for over 33 years, we believe IDLC has a responsibility to impart knowledge and help enhance skills of the youth on financial literacy all across the nation. Against this backdrop we have organized this Olympiad for the students of school, college and university. The winners received laptops, mobile phone handsets, trophy, medals and certificates from IDLC Finance Limited.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/idlc-awards-first-finance-olympiad-champions-1541258172

Flower cultivation brings solvency to Bogura growers

Commercial cultivation of flower has helped grassroots farmers in the district attain financial solvency. A good number of growers across the district have been growing varieties of flowers around the year and making handsome profit. Shajahanpur, Sadar, Dupchanchia, Shibganj and Sherpur upazilas are well-known for growing varieties of flower. Farmers in the area produce over 10 varieties of flowers every season. Flower cultivation has brought a change in their life. The average earning in a season is around Tk 0.4 million.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/ab-bank-to-issue-tk-50b-bond-1541004244

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
Nikkei 22522,243.66↑556.01↑2.56%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 63.14↓0.55↓0.86%
Crude Oil (Brent)$ 72.83↓0.06↓0.08%
Gold Spot$ 1,232.89↓0.54↓0.04%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 83.8500
GBP 1BDT 108.7536
EUR 1BDT 95.4884
INR 1BDT 1.1575





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