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 10, 2019

Land Service Hotline opens today

The land service hotline [Call Centres] of the Ministry of Land will be inaugurated today, according to a press release, reports BSS. At a meeting recently, Land Minister Saifuzzaman Chowdhury said the hotline will set out on October 10.It will be a milestone in the process of providing transparent and efficient land services to the people from our hotline number -16123.

Source: http://today.thefinancialexpress.com.bd/trade-market/land-service-hotline-opens-today-1570637273

Unilever vows to slash use of Plastic

Consumer products giant Unilever, whose brands include Dove soaps and Lipton teas, has said it aims to halve its use of non-recycled plastics by 2025. According to CEO Alan Jope, the plan to slash use of the so-called virgin plastics will require a “Fundamental Rethink” in its packaging policies, reports AP. The company aims to achieve the goal by reducing its use of all plastics by 100,000 metric tons and using more recycled plastic. Unilever previously pledged to make all its plastic packaging reusable, recyclable or compostable by 2025 and to use at least 25 per cent recycled plastic in packaging by that year.

Source: http://today.thefinancialexpress.com.bd/trade-market/unilever-vows-to-slash-use-of-plastic-1570637290

IFIC Bank observes 43rd Anniversary

IFIC Bank on Wednesday observed its 43rd anniversary in a simple ceremony at its Head Office at IFIC Tower in Purana Paltan. Salman F Rahman, Chairman of the Bank, Shah A Sarwar, Managing Director and CEO, Deputy Managing Directors and other senior officials of the bank were also present at the ceremony. Celebrations also took place in 148 branches of the Bank across the country.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/ific-bank-observes-43rd-anniversary-1570634474

 Mercantile Bank Limited organized Training Course on ‘Profiling Customers’

Mercantile Bank Limited recently organized a two-day training course on ‘profiling customers KYC, TP & risk grading to prevent bank from fraudulent activities’ and ‘CIB online reporting and its impact on credit judgment’ at its training institute in Dhaka. Md. Quamrul Islam Chowdhury, Managing Director & CEO of the Bank, inaugurated both the training programmes.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/mercantile-bank-limited-recently-organised-a-two-day-training-course-on-profiling-customers-kyc-1570635847

 Huge Tax lost for illegal Foreign Employees: BIDA

The government is losing millions of dollars a year in taxes from the foreign nationals who are working without taking any work permit in Bangladesh, according to Bangladesh Investment Development Authority [BIDA]. It is mandatory for every foreigner to take prior permission from the state-owned investment promotion agency to serve any public and private company in Bangladesh. But of late, different private and public entities have been found not complying with the rule, BIDA mentioned in a letter sent to every ministry, department and agency of the government and different trade bodies. According to industry insiders, the country has around 5 lakh foreigners in different ministries, projects and private companies. But only 1 lakh of them have registered with BIDA. Every year, the foreigners send abroad over $5 billion, according to government agencies. Different development projects of the government are recruiting skilled workers mainly from India, China, Sri Lanka, the Philippines, the UK and Germany. Recently, the number of illegal foreign workers have increased manifold. The government is losing the income tax from the employees and it is also squeezing the job opportunities for domestic skilled workers and fresh university graduates. Many foreign employees have been drawing $10,000 and $12,000 as their monthly salary, they are showing their income in local currency mainly to evade tax, industry people.

Source: https://www.thedailystar.net/business/news/huge-tax-lost-illegal-foreign-employees-bida-1811644

Eight FIs being traded below Face Value

The shares of eight companies of the financial institution sector came below face value for a long time. Some of these companies reported losses in latest quarterly reports and annual reports for the year ended on December 31, 2018. Of the companies, the shares of the Bangladesh Industrial Finance Company [BIFC] have been traded below face value since April 8, 2018. The company’s share price came down below face value of Tk 10 and closed at Tk 9.60 each on April 8, 2018. According to DSE information, the company incurred loss for last three years including 2018. The company reported a loss of 2.07 per share for April-June 2019 as against the loss of Tk 1.65 per share for April-June 2018. The price of the shares declined for several periods but failed to cross the face value of Tk 10. The company reported EPS of Tk. 0.81 for the year ended on December 31, 2018 against the loss of Tk 5.72 per share for the same period of the previous year. The shares of Premier Leasing & Finance have been traded below face value since June 26, 2019

Source: http://today.thefinancialexpress.com.bd/stock-corporate/eight-fis-being-traded-below-face-value-1570635704

BD Economy still least competitive

Bangladesh has slipped two spots, dropping to the 105th as competitive economy in an index produced by the World Economic Forum [WEF]. Last year, Bangladesh ranked the 103rd out of 140 countries, scoring 52.1. The country’s competitiveness has declined in 10 out of 12 pillars, according to the report unveiled by the Centre for Policy Dialogue on behalf of the Forum in Dhaka on Wednesday. The country has done well in only two pillars-product market and health-though the overall score of Bangladesh has remained unchanged at 52.1 in 2019 like in the last year. The country’s position is 109th for institutions; 114th for infrastructure; 108th for ICT adoption; 95th for macroeconomic stability; 93rd for health; 117th for skills; 119th for product market; 121st for labor market; 106th for financial system; 36th for market size; 121st for business dynamism; and 105th for innovation. The global competitiveness index means the ability of a country to achieve sustained high rates of economic growth in per capita GDP. Bangladesh’s per capita income now stands at US$1,744. The report said the 10-year average annual GDP growth stands at 5.9 per cent while the five-year average FDI inward flow as percentage of GDP is at 1.1 per cent. The CPD said institutions and governance are the weakest areas in the business competiveness, where majority of indicators have deteriorated. Singapore has topped the 2019 ranking, toppling the United States as the most competitive economy. Hong Kong and the Netherlands made a significant improvement in their rankings by reaching the third and fourth positions respectively. Meanwhile, most of the south Asian countries have lost their previous positions except Sri Lanka and Nepal.

Source: http://today.thefinancialexpress.com.bd/first-page/bd-economy-still-least-competitive-1570639184

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DSEX4862.25907↓ 32.05↓ 0.65
↓ 181.97 ↓ 0.70%
FTSE1007,166.50 ↑ 23.35↑ 0.33%
Nikkei 22521,555.67↑ 99.29 ↑ 0.46%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 52.43 ↓ 0.16 ↓ 0.30%
Crude Oil (Brent)$ 58.17 ↓ 0.15 ↓ 0.26%
Gold Spot$ 1,509.35 ↑ 3.78 ↑ 0.25%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 83.0342
GBP 1BDT 101.436
EUR 1BDT 91.1110
INR 1BDT 1.16899





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