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 October 01, 2019

Yearly ICT-related Exports to stand at $5.0bn by 2021

The government has set an export target of ICT-related products and services worth around US$ 5.0 billion annually by 2021. Some 2.0 million employments will be created and 90 per cent people of the country will have internet connectivity by the next two years. State minister for the Information and Communication Technology Division Zunaid Ahmed Palak said this at a seminar at Bangabandhu International Conference Center. The seminar titled ‘Harnessing blockchain is a time-stamped series of immutable record of data, which is managed by cluster of computers not owned by any single entity. Each of these blocks of data are secured and bound to each other using cryptographic principles. The block chain technology is being utilized increasingly across the globe to ensure transparent and non-changeable technology and decentralization. It will help ensure check and balance, according to Mr. Hamid.

Source: http://today.thefinancialexpress.com.bd/trade-market/yearly-ict-related-exports-to-stand-at-50bn-by-2021-1569856191

Aug Private Sector Credit Growth falls

Private credit growth decelerated further in August as some Banks had to prepare for complying with the Central Bank’s revised advance-deposit ratio rules. Lower import growth also pushed down the private sector credit growth last month, according to Bankers. Expected the credit growth to pick up slightly in September as the Central Bank had backtracked from its previous decision on slashing the ADR to facilitate the Bankers to invest more needed to give the current fiscal’s growth a boost. The sector’s credit growth came down to 10.68 per cent in August 2019 on a year-on-year basis from 11.26 per cent a month earlier, according to the Bangladesh Bank’s latest statistics. This growth was 2.52 percentage points lower than the Central Bank’s target of 13.20 per cent for the first half [1H] of fiscal year 2020. The credit growth to the private sector may increase slightly in September on the back of the Central Bank’s latest decision [on ADR]. The Central Bank had earlier re-fixed the ADR at 83.50 per cent and 89 per cent for the Conventional Banks and the Islamic Banks respectively. These rates were scheduled to come into effect from September 30.

Source: http://today.thefinancialexpress.com.bd/first-page/aug-private-sector-credit-growth-falls-1569865971

Stocks retreat into Red again

Stocks slipped into the red on Monday, snapping a two-day winning streak, as risk-averse investors went on a selling binge on large-cap shares. At the end of the trading session, DSEX, the prime index of the Dhaka Stock Exchange [DSE], settled 0.56 per cent or 28.10 points lower at 4,947. Investors remained worried about the volatility of the market and adopted a cautious stance, taking the index to the red territory, according to Market analysts. The investors booked quick profit on selective large-cap stocks like Gramemenphone, United Power, ICB, LafargeHolcim and Bank Asia, which contributed to the market plunge, according to a leading broker. The market turnover reached almost Tk 6.0 billion, led by Tk 1.24 billion worth of Bank Asia’s block trade. The engineering sector witnessed the highest loss of 1.82 per cent, followed by telecommunication [1.30 per cent], pharmaceuticals [0.55 per cent], food [0.49 per cent], power [0.31 per cent] and Banking [0.16 per cent]. The market-cap of the DSE fell to Tk 3,738 billion on Monday, from Tk 3,759 billion in the previous session.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/stocks-retreat-into-red-again-1569861126

Robi likely to be listed soon: BSEC Chief

Robi, a multinational telecom operator, is likely to be listed on the stock exchanges within the shortest possible time frame, according to BSEC Chairman Prof M Khairul Hossain. Pro Khairul made the remarks at the inaugural ceremony of the World Investors Week 2019 at the Bangladesh Securities and Exchange Commission [BSEC] office in the city. They held a discussion to end the row between the telecom regulator and Grameenphone and Robi. Robi has expressed its intension to go public under the book-building method. But we have suggested that the company should strengthen its financial statement. The capital market needs good companies under which the investors will feel such comfort and satisfaction like sitting in the shade of a healthy tree. The securities regulator has also responsibility for the IPOs. But the BSEC alone cannot identify irregularities due to role-based process of approving IPOs. The TREC [Trading Right Entitlement Certificate] holders have the scope to discourage investors in case of applying for the shares of the companies with weak fundamentals.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/robi-likely-to-be-listed-soon-bsec-chief-1569861059

Thrust on proper, transparent VAT Collection System

Speakers at a workshop on Monday stressed the need for a proper and transparent VAT collection system which is important for the country’s development. The Dhaka Chamber of Commerce and Industry [DCCI] organized the day-long workshop on ‘Value Added Tax and Supplementary Duty Act-2012’ at the DCCI office in the capital. Around 200 participants from different business houses took part in the workshop. DCCI chief Osama Taseer said that the workshop has been organized to create awareness among the business entities about the act. Businessmen should not be harassed for VAT collection. The present VAT act is more business friendly as well as SME friendly. DCCI’s Tax Consultant Snehasish Barua called upon the business entities to maintain books and records properly with the view to availing tax exemptions.

Source: http://today.thefinancialexpress.com.bd/trade-market/thrust-on-proper-transparent-vat-collection-system-1569856630

Business Leaders seek special focus on SMEs

Business leaders have demanded special focus on Small and Medium Enterprises [SMEs] through formulating special act, action plan and establishing special division, Bank and apex body. This is important for inclusive and sustainable economic development of the country as SMEs could not play their due role under the existing setups. This to create real climate for SMEs by removing all drawbacks persisting in the sector, according to the leaders of Japan Bangladesh Chamber of Commerce and Industry [JBCCI] while sharing a study report at Japan External Trade Organization [JETRO] office in the capital on Sunday. The report is handed over to JETRO Country Representative Yuji Ando as Japan is considering to invest in SMEs in its special economic zones in Bangladesh. The JBCCI prepared the report with support of the International Cooperation Organization for SMEs in Asia [ICOSA] to place recommendations to the authorities for formulating proper policy framework and strategy in support of development of SMEs to big industrial growth. According to the statistics of the Planning Commission, SMEs account for 45 per cent manufacturing value addition, 80 per cent of industrial employments, 90 per cent of total industrial units, and about 25 per cent of the labor forces. SME’s contribution to export earnings ranges from 75 per cent to 80 per cent.

Source: http://today.thefinancialexpress.com.bd/trade-market/put-special-focus-on-smes-1569856661

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
↑ 96.58 ↑0.36%
FTSE1007,408.21 ↓ 18.00 ↓0.24%
Nikkei 225 21,916.74 ↑160.90 ↑0.74%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI) $ 54.57 ↑ 0.50↑ 0.92%
Crude Oil (Brent)$ 60.78 ↓ 1.13 ↓ 1.83%
Gold Spot$ 1,468.01 ↓ 4.48↓ 0.30%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 82.9505
GBP 1BDT 102.009
EUR 1BDT 90.5510
INR 1BDT 1.17554





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