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

Click to Close

Rate last updated: 02/01/2014 11:15:04 AM

Important Business News Extracts September 04, 2018

Remittance up 7.13pc

Remittance posted 7.13 percent growth in August compared to July thanks to the depreciation of the taka against the US dollar. Expatriates sent home $1.41 billion last month, up from $1.31 billion in July. The amount of remittance was also $1.41 billion in August 2017. On August 30, the interbank exchange rate was Tk 83.75 per US dollar, up from Tk 80.70 a year earlier. The deficit hit a record $9.78 billion last fiscal year. The banking sector has been facing a shortage of greenbacks for several months because of higher import payments. Banks are deploying representatives abroad to boost the flow of remittance through legal channels. At the same time, the central bank has strengthened surveillance against hundi, an illegal cross-border fund transfer process. The monitoring has given a boost to the inbound remittance flow.

Source: https://www.thedailystar.net/news/business/remittance-713pc-1628896

178 awarded CIP status

The government yesterday awarded CIP (commercially important person) cards to 178 businesspersons in recognition of their extraordinary performance and contribution to the economy. Of them, 136 received the cards in the export category for 2015 while 42 cards were awarded to the directors of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) in the trade category as ex-officio members. The volume and value of shipments, tax payment, compliances, initiatives aimed at saving the environment and corporate social responsibility are considered while selecting the CIPs. The CIPs will enjoy some privileges from the government until the next winners are named. They will be able to use the cards as the entry pass to enter the secretariat and will be invited to state- and municipality-sponsored events, according to a gazette. They will get priority while reserving seats for travelling via railways, airways and waterways. The foreign ministry will also write to embassies or high commissions for visa purposes if a CIP plans to travel abroad for business purposes. The CIPs will be able to use the VIP lounges at the airports and their spouses and children will get priority in booking seats at public hospitals.

Source: https://www.thedailystar.net/news/business/178-awarded-cip-status-1628914

Dhaka becomes IDB’s regional hub

The Islamic Development Bank will officially launch its regional office in Dhaka next week. The IDB has taken the decision as part of its ongoing decentralization push – a move that is expected to help the lender take quick decisions on projects. The office will be set up in the IDB Bhaban in Agargaon and will be the 12th hub of the development lender. According to Economic Relations Division (ERD), the regional office will cover member countries such as Bangladesh and the Maldives and some non-member Asian countries such as India, Sri Lanka, Myanmar, Nepal, Bhutan and China. Currently, the IDB has a representative office in Dhaka, but it cannot take policy decisions without permission from its headquarters in Jeddah. Establishment of the regional headquarters will help the IDB take quick decisions on project activities, said an ERD official. The office will be headed by a regional hub manager. Established in 1973, the IDB has 57 shareholding member-states. Bangladesh is one of the largest recipients of the IDB group financing. Since joining the bank in 1974, Bangladesh has received $17 billion in trade finance and $2.18 billion in project finance. Of the funds, about 10.01 percent was concessional and 89.5 percent non-concessional. According to the Foreign Aid Budgetary Account of the ERD, Bangladesh was the fourth largest recipient of the IDB financing in 2017, receiving $900.6 million. The amount was 9.2 percent of the IDB’s total financing for the year.

Source: https://www.thedailystar.net/news/business/dhaka-becomes-idbs-regional-hub-1628905

Chinese group becomes DSE strategic investor today

The Chinese consortium of Shenzhen and Shanghai stock exchanges will receive 25 per cent shares of the Dhaka Stock Exchange today as the group on Monday deposited in a Bangladeshi bank Tk 947 crore to buy the bourse’s shares to be its strategic investor. A senior DSE official said that the Chinese group deposited the amount in Standard Chartered Bangladesh that would be transferred to the DSE account with City Bank today.The bourse, on the other hand, would transfer its 45,09,44,125 ordinary shares to a beneficiary owners’ account to be opened with the Central Depository Bangladesh Limited in favour of the group on the same day. The DSE will hold a press conference at 2.30pm today at the Pan Pacific Sonargaon Hotel in Dhaka to officially announce the consortium as its strategic partner. In accordance with the share purchase agreement, the consortium would transfer Tk 947 crore against 45,09,44,125 ordinary shares of the DSE at Tk 21 each to be the bourse’s strategic investor. Bangladesh Bank has recently approved the DSE’s proposal for non-resident investors taka account in favour of the Chinese consortium to facilitate the fund transfer.

Source: http://www.newagebd.net/article/49778/chinese-group-becomes-dse-strategic-investor-today

Raw jute prices witness 30pc hike amid crop loss

The prices of raw jute have seen an increase of 30 per cent in this harvesting season, compared to the previous year, amid crop losses caused by unfavorable climatic condition in many districts. On the other hand, jute mills are affected by the supply crunch of quality raw jute. According to the Department of Agriculture Extension (DAE) data, jute acreage has rather increased by 10 per cent to 0.79 million hectares this year. Newly retted jute of tossa variety has been selling at Tk 1800-Tk 2300 and desi variety at Tk 1650-Tk 1800 a maund (40 kg) across the country for the last three weeks, according to the Department of Agricultural Marketing (DAM). Tossa variety of jute has been trading at Tk 1900-Tk 2300 a maund for the last two weeks in Bhanga, Nagarkanda, Moksudpur, Pangsha and Kalindi wholesale markets in the region. Over 30 per cent of crops were damaged due to untimely rain in the region this year. Besides, use of low quality seeds and lack of retting space led to the decline of yields to just 7.0 maunds per bigha (52 decimals) from 10-12 maunds. Bangladesh Jute Spinners Association (BJSA) secretary Shahidul Karim told the FE that millers are now facing a tough competition while trying to get quality jute for their more than 105 factories. Bangladesh Jute Mills Corporation (BJMC) has set a target to purchase 1.95 million quintals of raw jute this season through its 94 purchase centres. The purchase started in the first week of July and the Corporation could buy only 12 per cent of their target so far, he added. The country produced 1.44 million tonnes (8.0 million bales) of jute in the last fiscal year (FY ’18). This fiscal year’s production target was fixed at 1.51 million tonnes (8.4 million bales), but it would be difficult to achieve it

Source: http://today.thefinancialexpress.com.bd/trade-market/raw-jute-prices-witness-30pc-hike-amid-crop-loss-1535995373

Frankfurt trade fair organizers arrive today

Top officials of the largest trade fair organizer, Messe Frankfurt Group, will arrive in Dhaka today (Tuesday). Stephan Kurzawski, Senior Vice President (consumer goods) and Board Member of Messe Frankfurt Group, along with Erdmann Kilian, Director (marketing communications/press) will visit Dhaka to explore business opportunities ahead of its next fair to be held in Frankfurt, Germany. The five-day consumer goods trade fair titled ‘Ambient’ will begin on February 8, said a press statement.

Source: http://today.thefinancialexpress.com.bd/trade-market/frankfurt-trade-fair-organisers-arrive-today-1535995467

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 25,964.82↓22.10↓0.09%
Nikkei 225$22,677.19↓30.19↓0.13%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$70.04↑0.2↑0.34%
Crude Oil (Brent)$78.07↓0.08↓0.10%
Gold Spot$1,199.67↓1.60↓0.13%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 83.7500
GBP 1BDT 107.7109
EUR 1BDT 97.1500
INR 1BDT 1.1749





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