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 18, 2018

ICB raises Tk 7.5b from subordinated bonds

The Investment Corporation of Bangladesh (ICB) has so far raised Tk 7.50 billion from the issuance of subordinated bonds floated as part of its market supportive measures. The state-run corporation is expected to raise Tk 20 billion by offering the subordinated bonds. Of the total amount, Tk 15 billion will be invested in the listed securities. The ICB officials expressed the hope that they would receive the remaining funds soon. On July 17, the Bangladesh Securities and Exchange Commission (BSEC) approved the ICB’s proposal for raising a fund of Tk 20 billion through issuing non-convertible fixed rate subordinated bond. The securities regulator also set a condition that Tk 15 billion has to be invested in the listed securities to boost the country’s capital market. Accordingly, the ICB has already started making investment in the capital market after it received a fund of Tk 7.50 billion from three institutions by offering the subordinated bonds. We have already received Tk 7.50 billion from the Agrani Bank, the Dhaka Stock Exchange (DSE) and the Dhaka Bank. The remaining funds are in the pipeline. Of the amount, Tk 7.0 billion came from Agrani Bank, Tk 400 million from the DSE and Tk 100 million from Dhaka Bank. Of the remaining funds, Tk 5.0 billion will come from Janata Bank, Tk 5.0 billion from Sonali Bank, and Tk 1.50 billion from Rupali Bank.

Source: http://thefinancialexpress.com.bd/stock/icb-raises-tk-75b-from-subordinated-bonds-1542430165

US-China trade war a blessing

The ongoing trade war between the US and China has been a blessing for Bangladesh as the local exporters, especially garment makers, have been receiving a lot of work orders from both China and the US, according to a new study revealed yesterday. It is an opportune moment for Bangladesh as China also announced tariff cuts on goods imports from the country. Many buyers are coming back to Bangladesh and the country’s share in the American garment market increased 6.46 percent in the first nine months of the year, said Ali Ahmed, chief executive officer of Bangladesh Foreign Trade Institute, who authored the study Trade war and its implications for Bangladesh. Other than the inflow of work orders for apparel items for competitive pricing, Bangladesh will also benefit in its cotton purchase as China has stopped buying from the US. Now, Bangladesh is the largest cotton importer as China stopped sourcing the white fibre to subsidies its domestic growers and to end the previous stocks. Already the cotton price fell 10 percent year-on-year in the October-November period due to oversupply, Ahmed said at the seminar, which was attended by exporters, importers, trade experts, entrepreneurs, trade body leaders and government higher-ups. The global foreign direct investment flows fell 23 percent to $1.43 trillion in 2017. Due to lack of infrastructure we are falling behind in manufacturing electronic products.

Source: https://www.thedailystar.net/business/news/us-china-trade-war-blessing-study-1662070

7 companies, 2 MFs recommend dividends up to 130pc

Seven listed companies and two mutual funds (MFs) recommended dividends up to 130 per cent in last week. Of the securities, the MFs have recommended dividends between 5.0 per cent and 5.5 per cent. 100 per cent cash dividend for the year ended on June 30, 2018 was recommended by the board of directors of Eastern Lubricants. The company disbursed same amount of cash dividend in previous year. The company has also reported EPS of Tk. 36.23 and NAV per share of Tk. 169.31 for the year ended on June 30, 2018 as against Tk. 41.00 and Tk. 143.07 respectively for the same period of the previous year. Padma Oil Company has recommended 130 per cent cash dividend for the year ended on June 30, 2018 against 110 per cent cash dividend disbursed in previous year. The company has also reported EPS of Tk. 34.18 and NAV per share of Tk. 126.78 for the year ended on June 30, 2018 as against Tk. 20.68 and Tk. 103.60 respectively for the same period of the previous year. National Tubes has recommended has recommended 10 per cent stock dividend against same amount of stock dividend disbursed in previous year. For same period, the trustee of the fund has reported EPU of Tk. 0.41, NAV per unit of Tk. 10.86 on the basis of market price and NAV per unit of Tk. 11.04 on the basis of cost price as against Tk. 1.03, Tk. 12.46 and Tk. 11.45 respectively for previous year.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/7-cos-2-mfs-recommend-dividends-up-to-130pc-1542467612

Leather Footwear, goods expo begins in city Thursday

Leather goods and Footwear Manufacturers and Exporters Association of Bangladesh (LFMEAB) President Md Saiful Islam addressing a press conference at a city hotel on Saturday, announcing the schedule of a three-day expo titled ‘Bangladesh Leather Footwear and Leather Goods International Sourcing Show (BLLISS) 2018’ that begins in the city on Thursday.

Source: http://today.thefinancialexpress.com.bd/trade-market/leather-footwear-goods-expo-begins-in-city-thursday-1542468927

Belt and Road Initiative: New facet of Chinese economic diplomacy

A two-day Belt and Road Forum for International Cooperation closed in Beijing on May 15, 2017 with the announcement that the next Silk Road summit will be held in 2019 and Chinese President Xi Jinping claiming that the BRI has no political agenda. Economic diplomacy, as a strategy of enhancing national prosperity, has been a significant priority for many countries across the world in the period following the Cold War. The financial crisis since the turn of the twenty-first century has encountered substantial changes in the field of foreign policy decision-making with a particular focus on economic sectors. The Silk Road Economic Belt and the 21st Century Maritime Silk Road envision global connectivity and economic linkages with peripheral states. In addition, BRI is also expected to build a new type of development cooperation emphasising on the utilisation of all-round economic development through improving the environment for development that determines one of the significant features of Chinese economic diplomacy. Following this policy, the Asian Infrastructure Investment Bank (AIIB) supports the development projects of BRI which is initially funded at US$ 40 billion dollars and eventually raised to US$ 450 billion that is also expected to grow up to US$ 100 billion.

Source: http://today.thefinancialexpress.com.bd/views-reviews/belt-and-road-initiative-new-facet-of-chinese-economic-diplomacy-1542466473

Rajshahi PWD implements 247 projects

The Public Works Department (PWD) has implemented 247 projects involving around Tk 11.08 billion over the last 10 years in Rajshahi division benefiting its people in many ways. PWD sources said the department has also been implementing many other development schemes at present with an estimated cost of around Tk 44.89 billion in the division comprising eight districts. They have implemented 70 projects relating to infrastructural development of police department both in rural and urban and semi-urban areas at a total cost of around Tk 1.63 billion. Under a scheme to this effect, massive development has taken place at Bangladesh Police Academy at Sardah. Construction of 26 Fire Service and Civil Defence stations and five regional passport offices was completed by spending Tk 655.2 million. A marine academy has been founded at Pabna while an institute of marine technology at Sirajganj. Construction of a complex for Rapid Action Battalion (RAB)-5 has been completed at a cost of over Tk 757.2 million.

Source: http://today.thefinancialexpress.com.bd/country/rajshahi-pwd-implements-247-projects-1542466774

MTB opens lounge at Ctg airport

Mutual Trust Bank (MTB) yesterday launched a dedicated lounge at the domestic terminal of the Shah Amanat International Airport Chittagong with a view to providing its customers with greater comfort and convenience when travelling in and out of the port city. The bank’s privilege clients and card holders of MTB Signature, MTB Master Card World, MTB VISA Platinum, Master Card Titanium, MTB VISA World and MTB Master Card will have access to the lounge. The 2,000 square-foot MTB Air Lounge has modern architecture, plush interiors, a prayer room and the best class catering. MTB has a network of 114 branches, 73 agent banking centres, 10 Kiosks, 250 plus ATMs and over 3,100 point of sales machines located at prime commercial, urban and rural areas.

Source: https://www.thedailystar.net/business/news/mtb-opens-lounge-ctg-airport-1662052

Technical education ‘can help attain SDGs’

There is a need for technical education and developing entrepreneurship to help achieve the country’s Sustainable Development Goals (SDGs) by 2030. BITAC is creating employment opportunity for the needy and poor section of youths in the society and helping them in reducing poverty. A total of 22,780 people received training under the project and 99 per cent of the trainees were employed in the industrial sector from July 2009 to September 2018. Of the total, 9,581 female and 13,199 male trainees are contributing to their families and the economy. The SEPA project was launched in 2009. Under the project, 300 females in each batch are getting three-month training in nine trades from Dhaka centre and males are receiving two-month training in three trades from four other centres.

Source: http://today.thefinancialexpress.com.bd/trade-market/technical-education-can-help-attain-sdgs-1542469425

Footwear export fetched $438m last fiscal year

Bangladesh bagged $438 million in export earnings from the footwear sector alone in the last fiscal year and has become the sixth largest footwear and leather goods exporter in the world. The three-day show to be organised by the Leathergoods and Footwear Manufacturers and Exporters Association of Bangladesh (LFMEAB) will kick off at International Convention City Bashundhara in the capital on November 22. Every year, the South Asian nation manufactures 330 million square feet of finished leather and sends abroad around 230 square feet of the product. The information was shared at a press conference at the Westin Dhaka hotel yesterday where organisers announced the schedule of the second edition of Bangladesh Leather Footwear and Leathergoods International Sourcing Show (BLISS) 2018. There is no entry fee for the exhibition, which will remain open for the visitors from 10 am to 6 pm. Foreign guests and around 30 brands and buyers from Hong Kong, Germany, Australia, Italy, Japan, France, the USA, the UK, Sweden, India, and Ethiopia will participate in the expo.

Source: https://www.thedailystar.net/business/news/footwear-export-fetched-438m-last-fiscal-year-1662064

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DSEX5,244.62735↓ 0.95983↓0.02%
Nikkei 22521,680.34↓123.28↓0.57%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 56.46↑0.00↑0.00%
Crude Oil (Brent)$ 66.76↓0.14↓0.21%
Gold Spot$ 1,223.36↑10.00↑0.82%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 83.8010
GBP 1BDT 107.5502
EUR 1BDT 95.6588
INR 1BDT 1.1651





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.

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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