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 15 2016

IMF queries rising NPLs in banks

A visiting International Monetary Fund (IMF) delegation queried the reasons behind the surge in non-performing loans (NPLs) in the banking system of Bangladesh. The query was made at a meeting with senior officials of the Bangladesh Bank (BB) Monday, according to the central bank officials. Their inquisitiveness was spurred by reports of NPL amounts having risen by more than 23 per cent or Tk 120 billion in the first half (H1) of the current calendar year. The volume of NPLs rose to Tk 633.65 billion, as on June 30 last, from Tk 513.71 billion in December 2015. It was Tk 525.19 billion a year before. The volume of classified loans kept rising in the recent years following the tightening of classified-loan policy and large-scale financial irregularities in different commercial banks, the central bankers were learnt to have explained at the meeting.

Source: http://print.thefinancialexpress-bd.com/2016/11/15/156737

Government plans to cut fuel prices

The government is once again considering cutting fuel prices in line with the international market so that the economy can benefit from it. The issue was discussed at a meeting, chaired by Finance Minister AMA Muhith, of the fiscal coordination council yesterday at the secretariat. At the meeting, the energy ministry has been asked to send a proposal to the finance ministry about the fuel price cut. The meeting discussed the price cut but the decision in this regard will be taken later, according to a finance ministry official. Oil fell to its lowest in three months yesterday, as the prospect of another year of oversupply and weak prices overshadowed chances that Opec will reach a deal to cut output. Brent crude futures fell 50 cents on the day to USD 44.3 a barrel.

Source: http://www.thedailystar.net/business/govt-plans-cut-fuel-prices-1314877

Next budget size to be BDT 3.9 trillion

The next national budget will be around BDT 3.9 trillion to support increased economic activities, Finance Minister AMA Muhith said Monday with forethoughts on more public-welfare spending. The current fiscal’s budget is BDT 3.41 trillion. Mr Muhith said country’s overall macroeconomic situation is in a positive mode with revenue collection as per target, increased spending on annual development program, and high investment. The minister, however, made it clear that subsidy in agriculture sector will continue to be given. He said the performance of revenue collection this year was as per target-better than last year’s in a substantial manner. Last year the collection was 11 % high compared to previous year-and this year it will also increase.


Q1 income tax receipt well below target

Income-tax collection for government exchequer in the first quarter of the current fiscal year (FY) fell short of an even curtailed target by BDT 12.4 billon. Officials attributed the shortfall largely to a deficit in receipts from corporate businesses. The income-tax wing of the National Board of Revenue (NBR) collected BDT 106.9 billion in the July-September period against its target of BDT 119.3 billion. However, income-tax collection posted a 12.4% growth in the first three months of the current fiscal year compared to that of the same period in previous fiscal. Official data show large taxpayers unit (LTU) alone counted a BDT 7.6 billion shortfall against its set target, triggering the aggregate deficit handed to the income-tax wing of the revenue board.


Reforms can make Bangladesh an export powerhouse: World Bank

Bangladesh can become an export powerhouse like its East Asian neighbors by improving its business competitiveness and trade regime, which will help firms compete globally, the World Bank said in a new report yesterday. Bangladesh is a wonderful case of how the rise in competitiveness can help cut poverty, said Vincent Palmade, lead economist for trade and competitiveness global practice at the WB, presenting the report at a program at Le Méridien in Dhaka yesterday. The repor, South Asia’s Turn: Policies to Boost Competitiveness and Create the Next Export Powerhouse — identified four policy levers that can help Bangladesh enable its firms to boost productivity and become more globally competitive. These include improving the business environment, connecting firms to global value chain, maximizing agglomeration benefits, and strengthening the firms’ capabilities.


Local and Global Stock Indices

Index NameClose ValueValue ChangePercentage Change
Dow Jones Industrial Average18,868.69↑21.03↑0.11%
Nikkei 2256,753.18↑22.75↑0.34%
FTSE 10017,646.51↓26.11↓0.15%

World Commodities

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)*$44.14↑0.82↑1.89%
Crude Oil (Brent)*$45.15↑0.72↑1.62%
Gold Spot*1,225.95↑4.6↑0.38%

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.

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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,

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Dhaka Bank Limited