Local-Business
BCCMEA election on March 8, panel manifesto announced
Charcoal Shilpo Sangskar Parishad, a panel of BCCMEA has announced its election manifesto for the tenure of 2025-27 with a pledge of major reforms as well as the industry’s development.
The Bangladesh Charcoal Manufacturers and Exporters Association (BCCMEA) election for the year of 2025-27 is scheduled to be held on March 8, 2025.
“If we are elected, we will cordially work to protect the industry, and work for major reformations to develop it,” said Parishad’s President Candidate Atikur Rahman.
He announced the manifesto at a press conference held at Dhaka Reporters’ Unity (DRU) auditorium in the capital on Sunday.
In a written speech at the press conference, Atikur said the industry is going through a difficult time due to various reasons including setting up unplanned factories across the country, and shortage of raw materials, easy access to environmental clearance, and high shipping charges.
The BCCMEA needs a talented governing body to resolve the industry’s problems. The Charcoal Shilpo Sangskar Parishad has sought government support to protect the industry.
Atikur said that there is an investment of Tk1000 crore in the charcoal industry where 25,000 people are directly engaged.
“We exported Tk350 crore in the previous year. We want to build it as a strong industry in the future. We have been doing business for the last more than one decade. But, a group of people are now hatching a conspiracy against the industry. If we are elected in the upcoming election, we will be included in the BCCMEA at FBCCI, and set up a permanent office,” he added.
BCCMEA’s Vice president candidate Mehedi Hasan Julias and Habib–E–Hasan, and other members Shahriar Ibne Ibrahim, Mofazzal Hossain Khokon, Mohammad Shamsul Alam Talukder, Alamgir Kabir, Shahadat Hossain Uzzal, Farhana Sharmin Kakon, Miraz Mohammad Tarekul Hasan, Hossain Ahmed Chowdhury, Shahim Ul Hoque, and businessman Md Monirul Islam were also present in the programme.
7 hours ago
Bangladesh Bank eases loan rescheduling policy for raw jute exporters
Bangladesh Bank has eased the loan rescheduling policy for raw jute exporters for the next two years.
The central bank on Sunday in a circular stated that Raw Jute Exporters can reschedule loans with a 2 percent down payment of their outstanding loans. The loan outstanding will be calculated based on March 31, 2024.
As a result, the traders can get loans from scheduled banks as their moratorium will be accepted by banks.
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Though Bangladesh is the global top raw jute exporter country, the traders have faced difficulties in exporting the item in the last few years.
The traders of this sector said production costs have increased while export prices have stagnated in the global market.
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“Outdated technology and old machinery have decreased the productive efficiency of the industry. Inefficient management and corruption have led to operational losses,” said Abu Sufiya, a raw jute exporter.
A lack of investment in modernization and innovation has made the industry less competitive, he said.
8 hours ago
Stock Market: Week begins with uptrend
The Dhaka and Chattogram stock markets started the week on a positive note, continuing the upward trend observed last week.
Trading in the first hour on Sunday saw key indices rising on both bourses.
At the opening of trading on the Dhaka Stock Exchange (DSE), the benchmark DSEX index gained 5 points. Among the other indices, the Shariah-based DSES index saw a marginal increase, while the blue-chip DS30 index rose by 3 points.
Most company shares experienced price gains. Of the traded companies, prices increased for 169, declined for 87, and remained unchanged for 83.
Within the first 30 minutes, the total turnover on the DSE exceeded Tk 50 crore.
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Similarly, the Chattogram Stock Exchange (CSE) saw its overall index rise by 10 points. Of the traded companies, 22 recorded price gains, 7 saw declines, and 6 remained unchanged.
In the first half-hour, the total turnover at the CSE crossed Tk 30 lakh.
16 hours ago
Bangladesh Bank to issue Tk 3,000 crore ‘Sukuk’ bond
In a move to finance the second phase of a crucial rural bridge construction project, Bangladesh Bank has decided to issue an Islamic bond, or ‘Sukuk’, worth Tk 3,000 crore.
The decision was finalised during the first meeting of the Shariah Advisory Committee held on Thursday.
The seven-year Sukuk will be issued under the Islamic banking principles of Istisna and Ijara. Given its focus on social development, it has been named the 'Social Impact Sukuk'.
The initiative, spearheaded by Bangladesh Bank's Deputy Governor Md Kabir Ahmed, aims to finance the construction of 82 bridges across 58 upazilas in the eight divisions of the country.
Stock market records year’s highest turnover
Under the jurisdiction of the Local Government Engineering Department (LGED), the project encompasses the construction of 17,697 metres of bridges, 38,800 metres of connecting roads and 4,230 metres of river training works.
Officials at the central bank have expressed optimism that the issuance of this Sukuk will facilitate the smooth implementation of the project.
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The enhanced rural road network is expected to improve socio-economic conditions in the project areas, boost agricultural production, streamline the transportation of agricultural and non-agricultural goods, reduce costs, and create both short- and long-term employment opportunities.
3 days ago
bKash launches 'Digital Union' to bring safe digital transactions to rural areas
bKash, a mobile financial service provider, has launched ‘Digital Union’ initiative in two unions of Cumilla to take easy and safe digital transactions to rural people’s doorsteps.
The year-long pilot programme began in Jagannathpur and Panchthubi unions, aims to rollout nationwide, according to a press release.
The launch event featured Baul music, a colourful procession, and courtyard meetings (Uthan Boithok), engaging people from all segments of these two unions.
bKash has been dedicated to empowering marginalised communities across Bangladesh by introducing them to digital financial transactions.
These efforts aim to enhance capacity and freedom in their daily transactions. Continuing to that goal, bKash has begun this initiative at the union level to further boost digital financial literacy.
3 days ago
Stock market records year’s highest turnover
Dhaka’s stock market witnessed its highest turnover of the year on Tuesday, surpassing Tk 500 crore, with the majority of companies experiencing price increases.
On the day, the Dhaka Stock Exchange (DSE) recorded a total share turnover of Tk 519 crore, marking the first time in 2025 that turnover exceeded Tk 500 crore.
Previously, the highest turnover was recorded on 21 January at Tk 499 crore, meaning daily turnover rose by nearly Tk 100 crore.
Alongside the increase in turnover, the DSE index and most company share prices also saw an uptrend.
The benchmark index, DSEX, increased by 17 points, while the Shariah-based DSES index and the blue-chip DS30 index rose by 3 points and 1 point, respectively.
Stock Market: Indices end second trading day on a positive note
Out of the 399 companies traded, 215 saw price increases, 119 recorded declines, and 65 remained unchanged. In terms of category-wise performance, 120 shares in the ‘A’ category rose in price, while 61 declined and 38 remained unchanged.
The ‘B’ category recorded 47 gains, 24 losses, and 11 unchanged prices. In the ‘Z’ category, 48 shares saw price hikes, whereas 34 declined and 16 remained unchanged.
Among the 37 mutual funds traded, the majority remained unchanged, with 19 funds seeing no price movement.
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Meanwhile, 10 funds recorded price increases and 8 saw declines.
In the block market, shares of 29 companies were traded, amounting to a total of 45 lakh shares valued at Tk 37 crore.
ACI Limited led the segment with shares worth Tk 25 crore being sold.
ML Dyeing Limited topped the gainers' list, with a 10% increase in share price, while Paper Processing & Packaging Limited recorded the highest loss, dropping by 4.13%.
The stock index in the Chattogram Stock Exchange (CSE) also recorded gains, rising by 43 points.
Among the 222 traded companies, 126 saw price increases, 68 recorded declines and 28 remained unchanged.
The total turnover at the CSE reached Tk 4.42 crore for the day, with Summit Power Limited leading the gainers' list with a 9.27% price increase.
Conversely, Meghna Life Insurance Company Limited saw the biggest decline, losing 9.85%.
Meanwhile, the Capital Market Reform Taskforce has submitted two draft proposals to the Bangladesh Securities and Exchange Commission (BSEC).
According to the commission, the proposals recommend updating regulations concerning mutual funds and margin loans to align with current market conditions.
The commission has assured that the taskforce’s recommendations will be implemented promptly to drive reforms and development in the country’s stock market.
5 days ago
Brac Bank partners Grameen Healthcare to bring eyecare to marginalised sections
BRAC Bank partnered with Grameen Healthcare Services Limited to provide free eye screenings and care to over 42,000 underprivileged people in Bogura and Thakurgaon.
This effort is part of BRAC Bank's flagship CSR programme - BRAC Bank Aporajeyo Ami.
Managing Director & CEO of BRAC Bank Selim RF Hussain and Managing Director of Grameen Healthcare Shamsul Haque Ahmed signed the partnership agreement at Grameen Healthcare’s head office on Monday.
Through this partnership, economically disadvantaged people will receive free cataract surgeries, including special lenses and Intra-Ocular Lens (IOL) implants to help improve their vision, according to a press release.
The partnership will ensure that patients can access diagnostic services, surgeries, and post-operative care, amplifying the impact on healthcare accessibility and disability inclusion.
The goal of this initiative is to help restore people's sight, enhance their quality of life, and empower them to participate more actively in their communities and workplaces. Ultimately, this effort seeks to create positive changes in people's lives and contribute to the economy.
Md. Ashraful Hasan, Chairman of Grameen Group, Tareq Refat Ullah Khan, DMD and Head of Corporate & Institutional Banking at BRAC Bank, and Ekram Kabir, Head of Communications of the bank, were present at the event.
Md. Ashraful Hasan stated, "By working together, we will not only help restore vision but uplift entire communities by providing access to healthcare services many cannot afford. We are delighted to make a difference together and change lives nationwide."
Selim RF Hussain, emphasising the significant impact of the initiative, said, "This programme is more than just providing healthcare; it's about giving people the chance to build a better future and ensuring that everyone, regardless of their financial situation, can live a meaningful life."
As a values-based organisation, BRAC Bank continues to uphold CSR initiatives that break financial barriers and social taboos, creating opportunities and ensuring access for people to realise their potential and lead meaningful lives.
The 'Aporajeyo Ami' initiative highlights BRAC Bank's strong commitment to social well-being and its goal of building a more inclusive society.
6 days ago
Int’l plastics fair 2025 to begin Wednesday with focus on increasing export
A 4-day expo titled “International Plastics Fair-2025 organised byhe Bangladesh Plastics Goods Manufacturers and Exporters Association (BPGMEA) will begin on Wednesday.
Commerce Adviser Sheikh Bashiruddin will inaugurate the 17th edition of the fair at the International Convention City Bashundhara (ICCB) in Dhaka.
The exhibition will remain open to visitors from 11 am to 7 pm every day.
“Plastic is one of the significant sectors of the country. We are formulating a plastic sector roadmap. In the coming days, we expect that the use of plastic will increase from 5 kg to 30 kg, and exports will also increase several times,” said BPGMEA President Shamim Ahmed at a press conference held at the organisation’s head office in Dhaka on Monday.
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He said the international fair will feature over 800 stalls, with more than 390 brands from 18 countries, including China, Germany, India, Italy, Japan, Vietnam, UAE, Turkey, and the UK, showcasing their products and technologies.
He said investment and employment are increasing rapidly in Bangladesh's growing plastics and packaging sector, where BPGMEA member companies are collectively playing an important role.
“One of the main goals of this event is to increase the use of eco-friendly technology and modern machinery among domestic businessmen,” he said.
Not only will there be an exhibition, but seminars on the plastics sector will also be organised over these four days.
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These seminars will include detailed and informative discussions on sustainable production, automated technology, recycling innovations, global markets, and the plastics sector in Bangladesh, he added.
“We believe that this fair will be very lively and effective with the presence of representatives from the plastic sector of different countries,” said the BPGMEA president.
He noted that through the Plastic Fair, the introduction of plastic products and the addition of new technologies are gradually increasing.
The consumer base is growing, and plastic products are being exported abroad after meeting domestic demand, he added.
6 days ago
BB's new monetary policy aims to bring inflation down to 7-8% by June
Bangladesh Bank (BB) has announced a new monetary policy for the remainder of the current fiscal year 2024-25, targeting an inflation rate of 7-8% and setting GDP growth at 4-5%.
Governor Dr Ahsan H Mansur presented the new monetary policy during a press conference at Jahangir Alam Conference Hall of the central bank on Monday.
The monetary policy focuses on stabilising three key financial indicators: exchange rates, inflation and interest rates.
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It also aims to provide a slight economic expansion, despite a significant decrease in private sector credit flow, as the global economic slowdown, along with the impact of domestic financial scams, has contributed to sluggish GDP and credit growths in Bangladesh.
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However, the policy interest rate remains unchanged, meaning lending rates will not rise further. Despite recommendations from the International Monetary Fund (IMF), the central bank has opted to maintain the policy rate.
6 days ago
KEPZ secures long-awaited mutation documents
The Korean Export Processing Zone (KEPZ) has finally obtained its mutation documents from the government, paving the path for increased foreign investment.
The documents, which had been pending for a long time, were issued by the Bangladesh government on February 6, 2025.
KEPZ is the largest private export processing zone in Bangladesh. The interim government has taken steps to expedite the mutation process to encourage greater foreign investment in the country.
According to Shafiqul Alam, press secretary to Chief Adviser Prof Muhammad Yunus, several foreign direct investment (FDI) proposals, including one from Samsung, were withdrawn due to the delay in obtaining the mutation documents for KEPZ.
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Alam shared this information during a press briefing in Dhaka on Sunday.
Korean entrepreneur Kihak Sung, the country’s top merchandise exporter through his company Youngone, also relocated some of his investments from Bangladesh to Vietnam because of the delay in receiving the mutation documents.
Sung acquired the land in Chattogram in 1999 and initiated the development of the export processing zone on 2,500 acres of land.
6 days ago