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 September 05, 2018

Govt endorses Delta Plan

The government on Tuesday endorsed the ‘Delta Plan 2100’, identifying six key areas of intervention for achieving Bangladesh’s upper middle-income country status. The coastal, Barind, drought-prone, haor and flood-prone, Chittagong Hill Tracts, riverine, and urban areas are the fields, which have been identified as the hotspots under the plan. In the short-term through the financial year (FY) 2031, the investment equivalent to 2.5 per cent of gross domestic product (GDP) will be required for addressing the impact of the climate change and poverty reduction. The country would require some $37 billion funds by 2031 for implementing nearly 80 projects under the Plan. The plan will be implemented by 2030 in the short-term, 2050 in the medium-term and 2100 in the long-term. By 2031, Bangladesh will graduate to the upper middle income country (UMIC) status from the current lower tier if the plan is implemented properly. Besides, the plan has a target to help the country grow at 9.0 per cent on an average by 2031 and the poverty will be cut to zero per cent by 2027. Some 133 projects have so far been selected for execution under the delta plan. Out of those, some 80 projects have been selected for the implementation, which are directly related to climate change and water sector related.

Source: http://today.thefinancialexpress.com.bd/first-page/govt-endorses-delta-plan-1536082838

AIIB to bring $270m for water supply project

The Asian Infrastructure Investment Bank (AIIB) plans to bring $270 million to Bangladesh for a municipal water supply and sanitation project. The AIIB and the WB will contribute $130 million each and the Bangladesh government will chip in $10 million. The project will be implemented from March 2019 to March 2024, according to the project proposal. Currently, the AIIB has provided a total of $274 million in funding to three projects in Bangladesh. The cost per connection was Tk 600. The beneficiaries complained that they had paid Tk 5,000 to Tk 10,000 per connection. It began operations in January 2016 and has now grown to 87 approved members from around the world.

Source: https://www.thedailystar.net/news/business/aiib-bring-270m-water-supply-project-1629223

Aug remittance flow rises 7.0pc

The flow of remittances grew by more than 7.0 per cent in August as expatriates sent increased amount of money on the occasion of Eid-ul-Azha. The money sent home by Bangladeshis working abroad amounted to $ 1.41 billion in August 2018, up by $ 92.87 million from the previous month’s level, according to the central bank statistics released on Tuesday. In July last, the remittances stood at $ 1.32 billion. It was $ 1.42 billion in August 2017. the flow of remittances increased by 7.70 per cent to $ 2.73 billion during the July-August period of fiscal year (FY) 2018-19 from $ 2.53 billion in the same period of the FY’ 18. Currently, 29 exchange houses are operating across the globe, setting up 1,213 drawing arrangements abroad, to expedite the remittance inflow, according to the central banker. All PCBs received $ 1.03 billion as remittances in August last while the state-owned commercial banks received $ 357.23 million, foreign commercial banks (FCBs) $ 10.74 million, and specialized banks $ 15.38 million.

Source: http://today.thefinancialexpress.com.bd/trade-market/aug-remittance-flow-rises-70pc-1536077689

DSE transfers stake to Chinese partner

Dhaka Stock Exchange (DSE) handed over its 25 per cent stake to a Chinese consortium on Tuesday after completion of necessary formalities under the exchange’s demutualization move. The premier bourse received fund amounting to Tk 9.62 billion on Monday in exchange of its one-fourth stake, which has been transferred into BO (beneficiary owner’s) account of the Chinese consortium. Now the fund will be equally distributed among the DSE Trading Right Entitlement Certificate (TREC)-holders, as each of them sold 25 per cent of respective share holdings. DSE signed the share purchase agreement with the Chinese consortium on May 14. The Chinese consortium earlier offered Tk 22 per share for 25 per cent of the DSE’s total shares. It also offered technical supports worth nearly US$ 37 million for free. However, the price offered by the Chinese consortium declined to Tk 21 per share following DSE’s dividend disbursement. Another consortium, led by National Stock Exchange of India (NSE), was the second highest bidder for being the strategic partner. It offered Tk 15 per share for 25.01 per cent of the DSE’s total shares.

Source: http://today.thefinancialexpress.com.bd/first-page/dse-transfers-stake-to-chinese-partner-1536083189

Agreement between Dhaka Bank and Praava Health

Managing Director & CEO of Dhaka Bank Limited Syed Mahbubur Rahman and Founder, Managing Director & CEO of Praava Health Sylvana Q. Sinha exchanging documents of a memorandum of understanding in the capital recently. Under this agreement, Dhaka Bank employees will enjoy 20 per cent discount and all Dhaka Bank credit and debit cardholders will enjoy 15 per cent discount on pathology, imaging, and procedures at Praava Health all year round.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/agreement-between-dhaka-bank-and-praava-health-1536081592

Four-day textile, garment expos begin in city on Sept 12

A four-day textile and garment exposition will begin in the city on September 12 to showcase the latest products and emerging technologies for the textile and garment industry. The Conference and Exhibition Management Services Ltd (CEMS-Global) will organize three expositions titled Textech, Yarn & Fabric and DyeChem at the International Convention City Bashundhara in Dhaka. The expositions–19th Textech Bangladesh International Expo, 14th Dhaka International Yarn and Fabric Show and 33th DyeChem Bangladesh Expo 2018 will open at 10.30am and run until 7.30pm every day. Around 1250 companies with 1500 booths from 25 countries across the globe will participate in this exhibition, organizers mentioned at the press met. In the previous fiscal year, Bangladesh earned $30.61 billion which was 80.7 per cent of total yearly export income and 8.76 per cent of the gross domestic product (GDP), it added.

Source: http://today.thefinancialexpress.com.bd/trade-market/four-day-textile-garment-expos-begin-in-city-on-sept-12-1536077741

Traders queue up to import rock salt

Private-sector traders are persuading the government to allow them to import salt as the country has a huge deficit of such a key essential item. Till last week, over 11 importers of the country proposed to import rock salt from neighboring India. The government has not yet taken any decision to import salt this year as the country has a stock of around 0.4 million tonnes of the essential item. The government imported 0.25 million and 0.5 million tonnes of crude salt in 2016 and 2017 respectively in an attempt to stabilize the local market, he added. The deficit of salt was about 0.35 million tonnes in the last two years. Some 0.75 million tonnes of crude salt were imported against the deficit. The BSCIC set a target to produce 1.8 million tonnes of salt in the current season against the domestic demand for over 1.65 million tonnes. The annual demand for salt increases by 10 per cent in line with the growing population. The country produced 1.62 million tonnes of salt in fiscal year 2015-16 and 1.66 million tonnes in the FY 2016-17.

Source: http://today.thefinancialexpress.com.bd/trade-market/traders-queue-up-to-import-rock-salt-1536077866

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 25,952.48↓ 12.34↓0.05%
Nikkei 225$22,589.61↓107.29↓0.47%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$69.38↓0.49↓0.70%
Crude Oil (Brent)$77.92↓0.25↓0.32%
Gold Spot$1,193.77↑2.25↑0.19%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 83.7374
GBP 1BDT 107.7030
EUR 1BDT 97.1103
INR 1BDT 1.1716





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