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 16, 2019

UAE Investors want to develop five Economic Zones

UAE-based Investors expressed their interest to take up a number of new projects, including five economic zones in Bangladesh, as the two nations look to take their bilateral relations to a new height. As many as 25 fresh investment projects were tabled at the second edition of the Bangladesh Economic Forum. They discussed the projects with Salman F Rahman, prime minister’s adviser for private industry and investment, and a visiting Bangladesh delegation, according to a press release. Earlier, the Emirati businesses also shared their plan to invest $10 billion in Bangladesh, according to data compiled by the Forum. Rahman met with a number of large UAE-based business groups, who have expressed their interest in developing economic zones and hi-tech parks in Bangladesh. Bangladesh is developing 100 economic zones and 28 hi-tech parks to accelerate the flow of foreign direct investment that jumped 68 percent year-on-year to $3.61 billion last year. Rahman led the 20-member delegation comprising officials of the Bangladesh Investment Development Authority, Bangladesh Economic Zones Authority and Bangladesh Hi-Tech Park Authority at the event. Rahman is pleased to see strong and genuine interest among UAE-based Investors, including UAE citizens and foreign business groups, for Bangladesh. We have seen large investments coming from China, Japan and the United States. We believe Investors from the GCC countries, especially Saudi Arabia and the UAE, should take advantage of the lower cost of investment, operations and higher return on investment in Bangladesh. These investments will strengthen the bilateral relationship between Bangladesh and the UAE and will deepen our economic relations to a strategic partnership level.

Source: https://www.thedailystar.net/business/news/uae-investors-want-develop-five-economic-zones-1800577

Unfair competition makes goods 70pc costlier: Analysts

People in Bangladesh spend 70 percent more than the actual price of the basic commodities because of the absence of a fair competition in the market, an Economist said yesterday. They have to spend nearly $14 billion a year due to the higher prices, said Abdur Razzaque, an economist on international trade, labour and development. He spoke at a seminar on “Growth in competition: the role of competition commission” at the office of the Economic Reporters’ Forum (ERF) in Dhaka. In his keynote presentation, Razzaque said lower income groups are the victims of anti-competition behaviour. According to the economist, competition boosts overall growth in the long run, benefiting the lower income households further. In Bangladesh it is possible to boost the economic growth by at least 2 percent every year if the competition policy is applied properly and the social benefits for the marginalised groups are increased. In Bangladesh, the competition commission was formed in 2012 and it started functioning in 2016.

Source: https://www.thedailystar.net/business/news/unfair-competition-makes-goods-70pc-costlier-analysts-1800583

Two Banks to issue Tk 21b Bonds

Islami Bank Bangladesh and Mutual Trust Bank have decided to issue bonds worth of total Tk 21 billion subject to approval of the regulatory authorities, according to official disclosures on Sunday. Mutual Trust Bank: Mutual Trust Bank has decided to issuance of non-convertible perpetual bond of Tk 4.0 billion and issuance of seven years non-convertible subordinated bond of Tk 5.0 billion. The Mutual Trust Bank, which was listed on the Dhaka Stock Exchange in 2003, disbursed 11 per cent stock dividend for the year ended on December 31, 2018. Each share of the Bank traded between Tk 31.60 and Tk 33.20, before closing at Tk 33.10, gaining 2.79 per cent over the previous day. The Bank’s paid-up capital is 6.69 billion, authorised capital is Tk 10 billion and the total number of securities is 669.92 million. Sponsor-directors own 41.11 per cent stake in the Bank while Institutional Investors own 22.14 per cent and the general public 36.75 per cent as on August 31, 2019, the DSE data shows.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/two-banks-to-issue-tk-21b-bonds-1568568461

BCSCL, ADN Telecom sign Agreement

An Agreement was signed between ADN Telecom Limited and Bangladesh Communication Satellite Company Limited (BCSCL) at BCSCL office in the city recently, said a statement. Under the Agreement, ADN Telecom will provide Digital Connectivity to remote Islands by using VSAT technology through Bangabandhu Satellite-1.They will also provide multimedia enabled desktop PC, WIFI internet connectivity supported by eco-friendly renewable solar power systems. In the presence of Dr. Shahjahan Mahmood, Chairman of BCSCL, Project Director of BCSCL Hamed Mohiuddin and Managing Director of ADN Telecom Limited, Henry Hilton exchanged their signed Agreement. In addition, Chief Operating Officer of ADN Telecom Limited, Mohammad Fazlun Naim, Head of Broadband Business, Arifur Rahman was also present with other high officials with both of the companies.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/bcscl-adn-telecom-sign-agreement-1568568548

AGM of Midland Bank held

The sixth annual general meeting (AGM) of the shareholders of Midland Bank Limited (MDB) was held at the boardroom of the Bank’s Head Office in the city Saturday. Nilufer Zafarullah, Chairman of the board of directors of the Bank, presided over the meeting attended by sponsors and directors of the Bank. Md Ahsan-uz Zaman, Managing Director & CEO, and Mohammad Masoom, AMD of the Bank, were also present. The meeting approved 8.0 per cent stock dividend for the year 2018 for the shareholders of the Bank. The Directors’ Report and Audited Financial Statements of the Bank for the year ended December 31, 2018 were also placed and adopted in the meeting.

Source: http://today.thefinancialexpress.com.bd/trade-market/agm-of-midland-bank-held-1568569065

Australia-BD Trade Conf’ce in November

The ‘Australia-Bangladesh Trade Conference, 2019’ is going to be held in Sydney from November 13 to 15 with a view to expanding trade and business between the two friendly nations, reports BSS. The Bangladesh High Commission in Australia in association with the Australia Bangladesh Business Council (ABBC) will organise the conference. The NSW Business Chamber, Export Promotion Bureau (EPB), Bangladesh Investment Development Authority (BIDA) and Australia Bangladesh Chamber of Commerce and Industry (ABCCI) are the associates of the conference, ABBC Chairperson Asif Kawnine told the news agency. Various industry bodies, researchers, industry and policy analysts, government officials and policymakers would take part in the event to discuss trade and investment opportunities.

Source: http://today.thefinancialexpress.com.bd/trade-market/australia-bd-trade-confce-in-november-1568569050

Govt promoting young Entrepreneurs: Palak

State Minister for ICT Division Zunaid Ahmed Palak said on Sunday that the government is promoting innovations and entrepreneurship among the young generation to help them become self-reliant. The Young Bangla, a leading youth platform, and the Innovation Design and Entrepreneurship Academy (IDEA) Project under the ICT Division arranged the event, according to a press release. The state minister said that at present, the country is enjoying demographic dividend, as 70 per cent of the country’s total population of around 165 million are now under 35 years. Around 45 million students are studying at different educational institutions and every year around 2.0 million youths enter the work field. Only government and private enterprises will not be enough to ensure employments for them. The government is promoting entrepreneurship to help the youths become self-reliant and enable them to create employment opportunities for others

Source: http://today.thefinancialexpress.com.bd/trade-market/govt-promoting-young-entrepreneurs-palak-1568569035

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DSEX4,942.23235↑8.34↑ 0.17
↑ 37.07 ↑0.14%
FTSE1007,367.46 ↑ 22.79 ↑0.31%
Nikkei 225 21,988.29 ↑228.68 ↑1.05%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 59.72 ↑ 4.87 ↑ 8.88%
Crude Oil (Brent) $ 66.22 ↑ 6.00 ↑ 9.96%
Gold Spot$1,503.57 ↑ 15.04 ↑ 1.01%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 82.8649
GBP 1BDT 103.562
EUR 1BDT 91.7332
INR 1BDT 1.16460





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