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 22, 2018

Forex dealers call for cautious LC opening

Bangladesh Foreign Exchange Dealers’ Association (BAFEDA) will urge its member banks to be cautious about opening letters of credit (LCs) for import, considering the overall forex market situation. The demand for the US dollar is increasing gradually, mainly due to higher import payments, particularly those of petroleum products and capital machinery. The US dollar was quoted at Tk 83.83 each in the inter-bank forex market on Sunday unchanged from the previous level. On the other hand, the central bank has continued its foreign currency support to the banks for settling import payment obligations, particularly of fuel oils and capital machinery for power plants. As part of the move, the central bank sold US$ 24 million directly to the banks last week to meet the growing demand for the greenback in the market. A total of $277 million has been sold to the commercial banks since July 01 of the current fiscal year (FY) as part of its ongoing support

Source: http://today.thefinancialexpress.com.bd/first-page/forex-dealers-call-for-cautious-lc-opening-1540143622

BSECL to make smart prepaid meters

A joint-venture smart prepayment meter-manufacturing firm-Bangladesh Smart Electrical Company Ltd (BSECL)-was established on Sunday. State-run West Zone Power Distribution Company Ltd (WZPDCL) and Chinese Hexing Electrical Company Ltd (HECL) floated the company. The WZPDCL will have a 51 per cent stake and the HECL a 49 per cent stake in the joint venture. The authorised capital of the BSECL will be Tk 500 million and the paid-up capital Tk 286 million. At the event, Mr Hamid laid stress on the modernisation of power distribution and transmission companies to provide better services for consumers. He welcomed the WZPDCL initiative to manufacture prepayment meters and urged others to follow suit to cater to the growing needs of the country.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/bsecl-to-make-smart-prepaid-meters-1540139395

Stocks feeling the election nerves

Last month’s disclosure of record GDP growth in fiscal 2017-18, higher government spending, the entry of a Chinese consortium into the Dhaka Stock Exchange and the easing up of liquidity crisis have all failed to jumpstart the market, which has been sluggish since the turn of the year. The DSEX, the key index of the DSE, tumbled over 50 points yesterday to close at 5,331. Turnover stood at Tk 439 crore, down 7.7 percent from the previous day and about 50 percent from a month ago. Meanwhile, IDLC Securities said yesterday’s fall was driven by a decline in energy, food, engineering and textiles stocks. ICB is in a tight position as it is yet to get the funds from selling a bond worth Tk 2,000 crore. KPCL, which declined 7.2 percent in value, was the most traded stock with its transaction of Tk 26.6 crore. Losers beat gainers clearly as 259 stocks declined, 49 advanced and 35 finished unchanged on the DSE. Three companies recommended dividends on the day: state-owned power entity DESCO announced 10 percent cash dividend, MI Cement 15 percent cash dividend, and Rahim Textile Mills 20 percent cash and 10 percent stock dividend for the year that ended on June 30, 2018.

Source: https://www.thedailystar.net/business/news/stocks-feeling-the-election-nerves-1650130

Nagad to make MFS sector lopsided

The disproportionately higher transaction limits of Bangladesh Post Office’s digital financial service platform Nagad have raised the eyebrows of private sector players. Through Nagad, a customer will be able to make 10 transactions a day amounting to Tk 250,000 and send Tk 50,000 in one transaction and the numbers will remain the same in case of money withdrawal also. In contrast, by way of two transactions the cash-in limit is Tk 15,000 and for withdrawal it is Tk 10,000 a day for the existing mobile financial service provider’s bKash, Rocket and UCash. Through Nagad, a person can send Tk 250,000 a day while it stands at Tk 10,000 for the existing MFS providers. Although launched officially in Dhaka yesterday on a test basis, Nagad has been running in other cities since last week. The platform has already logged in 87,000 customers. As of August, there are 6.47 crore active MFS accounts in the country, which have transacted Tk 34,399 crore during the month, according to data from the BB.

Source: https://www.thedailystar.net/business/news/nagad-make-mfs-sector-lopsided-1650133

Int’l expo on water tech begins Thursday

A three-day international exposition on water, wastewater technologies and solutions will begin in Dhaka on Thursday. In partnership with Local Government Division, the Conference and Exhibition Management Services Ltd (CEMS) will organise the “2nd Water Bangladesh International Expo 2018” in the capital’s International Convention City Bashundhara.

Source: https://www.thedailystar.net/business/global-business/news/russia-world-cup-added-14b-economy-organisers-1647790

Tourism fair begins in Ctg Oct 25

A three-day international tourism fair—Chittagong Travel Mart-2018—is scheduled to start in Chattogram on October 25. The Bangladesh Monitor, a travel fortnightly, is organising the 10th edition of the event at The Peninsula Chittagong. Some 20 organisations, including airlines, tour operators, hotels, resorts, amusement parks and other tourism related service providers, will showcase their products and services. US- Bangla Airlines, Regent Airways, Air Arabia, Be Fresh, Ocean Paradise Hotel and Resort, Bangkok Hospital, Flamingo Tours and Travel and other local and foreign companies will participate in the event. The fair will remain open for the visitors from 10.30am to 8pm every day from October 25-27.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/standard-chartered-bank-signs-mou-with-bat-bangladesh-1539533741

Commercial sheep rearing expanding

Many poor, ultra-poor and unemployed people become self-reliant by rearing sheep in Tangail district. A sociologist urged the village people to boost commercial sheep rearing. A expert of district livestock office sources said the sheep in one and the same things it would meet nutritional demand besides providing valuable wool for wool based textile. Whereas comparably it is found that the sheep rearing is more profitable that is why wide ranging of commercial sheep farming may bring a social revolution to solve the economic problem of our poor, ultra poor and un-employed people. There are a total 420 enlisted sheep farms are here in all the twelve upazilas of the district. A total of 81,750 sheep are being reared at those farms.

Source: http://today.thefinancialexpress.com.bd/country/commercial-sheep-rearing-expanding-1540138560

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
Nikkei 22522,622.31↑90.23↑0.40%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 69.38↑0.26↑0.38%
Crude Oil (Brent)$ 80.00↑0.22↑0.28%
Gold Spot$1,228.20↑1.71↑0.14%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 85.1084
GBP 1BDT 111.2452
EUR 1BDT 96.0023
INR 1BDT 1.1609





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