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 30, 2019

Stocks keep gaining as Bank issues surge

Stocks posted marginal gain for the second straight session on Sunday as investors showed their appetite on Banking sector shares. The market opened on positive note and the key index rose more than 29 points within first 30 minutes of trading, but rest of the session shed most of the initial gains. Finally, DSEX, the prime index of the Dhaka Stock Exchange [DSE], went up by 7.26 points or 0.14 per cent to settle at 4,975. According to Market analysts, Banking stocks like BRAC Bank, Eastern Bank, Al-Arafah Islami Bank, Mutual Trust Bank, Trust Bank and Square Pharma jacked the index up. The market ended marginally higher, many investors remained worried about the recent volatility of the market and maintained cautious approach. The DSE Shariah Index also gained 1.01 points to close at 1,149. However, the DS30 index, comprising blue chips, saw a fractional loss of 0.98 point to finish at 1,767. Turnover, a crucial indicator of the market, fell to Tk 3.84 billion, which was 6.80 per cent lower than the previous day’s Tk 4.12 billion. The heavyweight Banking sector posted the highest gain of 1.10 per cent with prices of 23 Banks closed higher out of 30 listed Banks.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/stocks-keep-gaining-as-bank-issues-surge-1569774464

Two Banks to issue Perpetual Bonds

The Board of Directors of two Private Commercial Banks — ONE Bank Ltd and Jamuna Bank Ltd– have decided to issue non-convertible perpetual bond worth Tk 4.0 billion each. The ONE Bank will issue non-convertible perpetual bond [at floating rate] worth Tk 4.0 billion, according to an Official disclosure on Sunday. The Bank will issue the bond for raising fund to meet regulatory capital support of the Bank under Tier-1, subject to the approval of the regulatory authorities – BB and Bangladesh Securities and Exchange Commission [BSEC], according to the disclosure. The board of directors of Jamuna Bank has decided to raise fund against issuance of coupon-bearing non-convertible perpetual bond worth Tk 4.0 billion through private placement. The Bank will issue the bond for raising fund as part of the additional Tier-I of revised regulatory capital framework for Banks in line with Basel-III.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/two-banks-to-issue-perpetual-bonds-1569774529

Remittance to soar if Youths trained on New Tech: ADB

Bangladesh can receive as much as $100 billion from remittance if the country’s huge volume of young population is trained in new technologies, according to the Asian Development Bank yesterday. In fiscal 2018-19, about 12 million migrant workers sent home $16.4 billion. An international conference on Blockchain Technology organized by the ADB. Blockchain is a cutting-edge high-level creative technology that can revolutionize many areas of modern life by improving transparency, accountability and efficiency in service delivery, governance, financial sector, industries, trade and other areas. The ADB organized the two-day event with a view to introducing the Blockchain Technology in Bangladesh, inspiring dialogues among stakeholders and identifying areas where the technology can be used to unleash the growth potential of the country. After the completion of the Padma Bridge the country will see 1 percent economic growth [GDP] while the other under-construction mega structures will generate the rest of the expected growth. Bangladesh is now the world’s 30th largest economy and it will become the 26th largest by 2030. By 2041 Bangladesh will reach the top 20.

Source: https://www.thedailystar.net/business/news/remittance-soar-if-youths-trained-new-tech-adb-1807222

Brunei wants to sell LNG to Bangladesh

Gas-rich Brunei is interested to supply Liquefied Natural Gas [LNG] to Bangladesh amid the country’s mounting natural gas demand. Brunei’s High Commissioner to Bangladesh Haji Haris Othman has expressed the interest during a courtesy call on state minister for Power, Energy and Mineral Resources Nasrul Hamid in the secretariat on Sunday. Brunei currently has a memorandum of understanding to supply LNG to Bangladesh, according to an Energy Ministry official. A final deal is yet to be inked. Bangladesh is importing LNG from Qatar’s RasGas and Oman’s Oman Trading International and re-gasifying in two floating LNG terminal at Moheshkhali island in the Bay of Bengal. State-run Petrobangla has so far imported five dozens of LNG cargoes to feed the gas-guzzling consumers in the country. Bangladesh has also shortlisted some 17 global suppliers to purchase LNG from spot market. Separately, Bangladesh has moved to build a land-based LNG import terminal. A dozen of potential builders have already submitted expression of interests for the land-based LNG terminal.

Source: http://today.thefinancialexpress.com.bd/trade-market/brunei-wants-to-sell-lng-to-bangladesh-1569769380

Yarn Consumption doubles in six years

Yarn consumption doubled over the last six years because of high demand from domestic garment manufacturers and high volume of garment export, according to industry insiders. In fiscal 2012-13, local knitters and weavers consumed 10 lakh to 11 lakh tonnes of yarn. Last year, the amount stood at 22 lakh tonnes, according to Monsoor Ahmed, Secretary to the Bangladesh Textile Mills Association [BTMA], and the platform for the primary textile sector. Between fiscal 2012-13 and 2018-19, Bangladesh’s garment export increased nearly 10 percent. Last fiscal year, apparel shipment from Bangladesh was $34.13 billion, which was $21.51 billion in fiscal 2012-13, according to data from the Export Promotion Bureau. The sector also witnessed a setback in shipment because of elections in some major markets, financial crisis in some economies and Brexit. On the other hand, there were some sunny sides for the local garment exporters like new export destinations such as Japan, India and China, where Bangladesh’s garment export has been growing at a faster rate in comparison to traditional markets like the EU, the US and Canada. The local garment exporters have been receiving a lot of work orders because of the US-China trade war that compelled many international retailers and brands to come to Bangladesh. Lower production of yarn by local spinners means cotton consumption by Bangladesh also declined. Last fiscal year, Bangladesh imported nearly 7.7 million bales of cotton, which was 8.2 million bales in fiscal 2017-18.

Source: https://www.thedailystar.net/business/news/yarn-consumption-doubles-six-years-1807231

India imposes ban on Onion Exports

The price of onion marked a fresh hike in the local market as Indian government on Sunday banned the export of all varieties of onion for an indefinite period. India also restricted stock limits on both retail and wholesale traders following a price surge of the commodity there, according to the local media. Onion was selling at 70-80 rupee a kilogram in the Indian capital of New Delhi. Following the India’s export ban, onion prices in different kitchen markets in Dhaka soared by Tk 10 per kg to Tk 90 on Sunday evening. On September 13, India raised its maximum export price of onion to $850 a tonne, pushing up prices of the item in Bangladesh market. As such, onion prices rose up by Tk 20-25 a kg at retail level here. The government has already taken steps like open market sale [OMS], enhanced market watch and meetings with key traders to stabilize onion prices. The state-run Trading Corporation of Bangladesh [TCB] has been selling onion at Tk 45 a kg through 16 trucks since September 16 in the capital.

Source: http://today.thefinancialexpress.com.bd/first-page/india-imposes-ban-on-onion-exports-1569778161

VAT exemption for AUW

Asian University for Women [AUW] has been given Value Added Tax [VAT] exemption for place and house rent for the sake of expanding Women’s Education in the country, reports BSS. The National Board of Revenue [NBR] issued a Statutory Regulatory Order [SRO] to this end last week saying, the AUW has been running by the foreign finance without any intention of making profit. Considering this aspect, the NBR under the section 126 of the VAT Act, 2012, has given the exemption to the AUW.

Source: http://today.thefinancialexpress.com.bd/trade-market/vat-exemption-for-auw-1569769529

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
↓ 70.87↓0.26%
FTSE1007,426.21 ↑ 75.13↑1.02%
Nikkei 225 21,780.20 ↓98.70 ↓0.45%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 56.05 ↑ 0.14↑ 0.25%
Crude Oil (Brent)$ 61.94 ↑ 0.03 ↑ 0.05%
Gold Spot$ 1,492.38 ↓ 4.63 ↓ 0.31%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 82.9118
GBP 1BDT 101.849
EUR 1BDT 90.6791
INR 1BDT 1.17449





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