business
First consignment of 19 tonnes of Hilsa leaves Barishal for India ahead of Durga Puja
The first shipment of 19 tonnes of Hilsa left Barishal for India on Wednesday evening after the government allowed exporting the fish.
Earlier in the day, the Commerce Ministry allowed the export of 3,950 tonnes of Hilsa in India on the occasion of the Durga Puja, the largest religious festival of the Hindu community.
As per the government decision, 79 exporters were allowed to export Hilsa. They can export 50 tonnes of Hilsa within October 30, 2023.
Five exporters-Mahima Enterprise, Tanisha Enterprise, Masfi Enterprise, AR Enterprise and Sea Gold from the Barishal were allowed to export 50 tonnes of Hilsa each.
Read: Govt allows 3,950 tonnes of Hilsa export to India ahead of Durga Puja
As part of the move, Mahima and Tanisha Enterprises jointly exported 19 tonnes of Hila to India from their warehouses in the Barishal city on Wednesday, said Barishal Matsya Arotdar Association’s General Secretary Nirob Hossain Tutul, also owner of Mahima Enterprise.
He said the first consignment of the Hilsa will arrive in India through Jashore’s Benapole Land Port on Thursday morning.
Lauding the government’s initiative to export the Hilsa officially, fish trader Jahir Sikdar said the smuggling of the national fish will reduce and availability of the fish will also increase at the local markets once export permission is given.
Read: 22-day ban on hilsa fishing to begin on Oct 12: Fisheries Minister
He said a good quantity of the fish is smuggled to India through Jashore, Satkhira and Agartala regularly due to lack of monitoring.
Read more: Govt measures boost hilsa production in Khulna
Bangabandhu Shilpa Nagar will create 14 lakh jobs: Principal Secretary
Principal Secretary of the Prime Minister’s Office Md Tofazzel Hossain Mia on Wednesday said Bangabandhu Sheikh Mujib Shilpa Nagar (BSMSN) alone will create direct employment for 14 lakh people.
He said that the BSMSN will make a revolutionary change in the socio-economic sector of Chattogram and Bangladesh.
The principal secretary said this to the reporters after a meeting with government agencies and private sector entrepreneurs in the BSMSN while visiting the project on Wednesday.
The BSMSN is being built on 3400 acres of land in Mirsharai, Sitakunda of Chattogram, and Sonagazi Upazilas of Feni district.
Read: Chinese Company signs deal to invest $12.2 million at Adamjee EPZ
Five companies are already in production and three more are waiting to go into production soon.
After visiting the industrial city, Tofazzal said that gradually more factories will be built and about 14 lakh people employment opportunities will be created while the development is completed.
“We need to increase police assistance to protect their security, residence, security of industries, security of investors, law and order in this area. A police station would be built. They need to ensure their movement and infrastructure,” he added.
He said about 152 companies from home and abroad have already invested in this industrial city (BSMSN).
“There were once 139 families here. They suffered due to industrialisation. We have decided to house them. The employment opportunities will be provided to them,” he said by acknowledging the sacrifice of local people.
Read: Chinese Company to invest $ 19.5 million in Mongla EPZ
Tofazzal said, ”We want development and environment protection. All development projects will be done here keeping the environment intact. There will be a Central Effluent Treatment Plan (CETP). If one has its own ETP, it has to ensure international standards. Otherwise, they have to come to the CETP,” he said regarding environmental concerns.
Bangladesh Economic Zone Authority (BEZA) Chairman Yusuf Haroon, Chattogram’s Divisional Commissioner Mohammad Tofail Islam, Range DIG Noor-E Alam Mina, Deputy Commissioner Abul Bashar Mohammed Fakhruzzaman and District Police Superintendent AKM Shafiullah, among others, were present in the meeting.
Read more: Chinese company to invest US$ 76.41 million at BEPZA Economic Zone
OPPO brings ‘A58 and A78’ smartphones with new features
OPPO, the global smartphone technology company, welcomes the autumn with a remarkable opportunity for smartphone enthusiasts.
The OPPO is offering the brand new OPPO A58 for the astonishing price of just Tk 1 and that's not all – the recently acclaimed OPPO A78 is also up for grabs at the same incredible price.
This offer will be available for smartphone seekers from September 20 to 22.
OPPO aims to enrich this autumn experience with exceptional offers. As they welcome autumn with the "Shorot Utshob" (Autumn Festival), the chance to win the OPPO A58 and OPPO A78 for just Tk 1 adds a vibrant splash of color to your season.
Read more: OPPO A58 Review: Is this budget-friendly phone good for photos?
The price of the OPPO A58 is set at 23,990 with a 6.72-inch FHD+ Sunlight Display, ensuring excellent visibility even under the sun's glare.
Moreover, the experience true-to-life color brightness that breathes life into videos and photos, no matter the lighting conditions.
The phone's technically ambitious Dual Stereo Speakers create an immersive surround sound experience, enhancing the users’ audio enjoyment with improved loudness and reduced noise.
The 50MP AI Camera is a standout feature, allowing the users to capture high-resolution and high-definition moments on the go.
Read: OPPO A78 Review: Is it worth buying?
With the powerful 33-watt SUPERVOOC, the phone gets charged swiftly and safely, granting an impressive 3.39 hours of call time with just five minutes of charge. This makes it perfect for long streaming sessions or extended calls. Additionally, the phone's 5000-mAh Large Battery can stand by for up to 445* hours when fully charged, ensuring uninterrupted usage.
Equipped with 8 GB RAM and 128 GB ROM, the OPPO A58 becomes a powerhouse in the palm of the users’ hands, offering impressive speed. RAM expansion in three levels further boosts performance, making it ideal for all tasks.
The OPPO A78 features a lightning-fast 67-watt SUPERVOOC Flash Charge, eliminating any concerns about charging time. It can power up the phone from 0% to 100% in a mere 45 minutes and 37 seconds. With 8 GB RAM and expandable additional 8 GB RAM, paired with a generous 256 GB ROM, you have ample storage for files, even accommodating over 50,000 high-resolution photos.
Read: OPPO A17 now available at Tk 16,990
The phone's immediately striking 6.4-inch FHD+ AMOLED display, combined with Dual Stereo Speakers and Ultra Volume Mode, provides flagship-level entertainment experiences in every aspect. Whether the users are amidst a bustling crowd or enjoying content at home, the next-level display and audio configuration create an immersive "private theater" experience in every frame.
This attractive offer to win OPPO A58 and OPPO A78 smartphones for only Tk 1 is available at all authorized OPPO stores across Bangladesh. Grab the opportunity to experience the technological marvels driven by OPPO's relentless pursuit of Innovation Ahead. For more details about this incredible offer, visit the official OPPO Bangladesh Facebook page.
Read more: Oppo Reno10 5G Review: Is it a balanced phone?
Bangladesh keen to export readymade garments to Nepal, seeks collaboration to unlock opportunities
Bangladesh Garment Manufacturers and Exporters Association (BGMEA) on Wednesday expressed keen interest in exporting readymade garments to Nepal and emphasized the importance of collaboration between the two countries to unlock mutually beneficial opportunities.
Visiting Nepali delegation highlighted the investment potential within Nepal and showcased the various opportunities available to investors.
The delegation representing the Ministry of Industry, Commerce and Supplies of Nepal held a meeting with BGMEA president Faruque Hassan on Wednesday (September 20).
During the meeting held at BGMEA Complex in Dhaka, both sides discussed issues of mutual interests, potential areas of collaboration, and trade and investment opportunities between the two countries.
Read: Nepal could be a source of clean energy for Bangladesh: FBCCI
The Nepali delegation, led by Baburam Gautam, Director General of the Department of Industry within the Government of Nepal, exchanged ideas and information with the BGMEA president.
The discussion encompassed a wide range of topics, including the thriving readymade garment industry in Bangladesh, its future prospects, and the strategic vision for its continued growth.
Read: FBCCI president says they are against dishonest businessmen
Faruque shared insights into Bangladesh's emphasis on diversifying its market for garment exports and its ongoing efforts to explore new export destinations.
In the meeting, both parties expressed willingness to work together to realize mutual benefits, according to BGMEA.
Read more: Japan wants to increase investment in Bangladesh: Japanese envoy told FBCCI
Selling dollars at higher prices: What is Bangladesh Bank’s action against treasury heads of 10 banks?
Bangladesh Bank is working to take disciplinary action against the treasury heads of 10 commercial banks over selling US dollars at prices higher than the fixed rate.
The central bank sent letters to these banks mentioning the offence with instructions of punishment.
Bangladesh Bank stated in the letter that the treasury chief cannot ignored the responsibility of such offence.
Read: Bangladesh Bank assures businesses interest rate won't go too high
Banks’ treasury departments handle the demand and supply of money and dollars. In some banks, there is also an officer, of deputy managing director rank, as the head of the treasury department.
According to information from various sources, the 10 concerned banks are: Mercantile Bank, Premier Bank, BRAC Bank, Madhumati Bank, Midland Bank, Exim Bank, Social Islami Bank, Al-Arafah Islami Bank, Shahjalal Islami Bank and Trust Bank.
Read: Bangladesh Bank relaxes rules for EFPF loan payment
Sources said this number of banks may increase.
In August last year, Bangladesh Bank removed the heads of the treasury departments of six domestic and foreign banks based on the same complaint. But in the end, the regulatory body could not uphold that decision.
Chairman of Association of Bankers, Bangladesh (ABB) and Managing Director (MD) of BRAC Bank, Salim RF Hossain, said that this is a bilateral issue between the central bank and the respective scheduled banks. “Such letters come regularly. Therefore, I do not want to make any specific comments on this issue,” he said.
Read: Bangladesh Bank seeks explanations from 13 banks for selling dollars at higher prices
SEAPEX opens Bangladesh Chapter in Dhaka
Southeast Asian Petroleum Exploration Society (SEAPEX) has launched its Bangladesh chapter at acolourful event in Dhaka.
The inauguration programme was held on Monday at Baridhara. The programme was opened byMichael Whibley, Seapex Committee Member and Asia Pacific Scoutcheck (APSC) Chairperson and
Masud Khan, DMD Cosmos Group. Edwin Bowles, General Manager, KRISENERGY Bangladesh, amongst others were present there.
Singapore-based SEAPEX is a non-profit organization formed with an objective to promote petroleum and natural gas exploration, development, and production in Southeast Asia.
Every two years SEAPEX arranges a conference in Singapore which is one of the renowned andprestigious summits of oil and gas professionals in the Asia Pacific region.
BGMEA calls for collaboration to create enabling environment for responsible business practices
BGMEA installs CBC machine at its Chattogram Hospital for dengue patients
In an effort to enhance healthcare services for garment workers, the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has installed a state-of-the-art Complete Blood Count (CBC) machine dedicated to the pathological examination of dengue patients at the BGMEA Hospital and Diagnostic Center in Chattogram.
The momentous occasion was marked by an inauguration ceremony with BGMEA President Faruque Hassan as the chief guest on September 18, BGMEA said on Tuesday.
BGMEA First Vice President Syed Nazrul Islam, Vice President Rakibul Alam Chowdhury, Directors A.M. Shafiul Karim (Khokon), and M. Ahsanul Hoq, Chair of BGMEA Standing Committee on Trade Fair Mohammed Kamal Uddin, and Chair of BGMEA Standing Committee on Cash Incentive Humayun Kabir Salim were present at the inaugural ceremony.
The introduction of the CBC machine represents a significant step forward in BGMEA's commitment to the well-being of garment workers and poor people in society.
Dengue fever is a major health concern in Bangladesh, and this CBC machine will greatly facilitate early diagnosis and treatment.
BGMEA President Faruque Hassan said, “BGMEA is dedicated to the welfare of the garment workers and underprivileged people in our community, and the installation of this CBC machine is a testament to our commitment."
The CBC machine will play an important role in diagnosing and monitoring dengue patients effectively.
It will enable prompt and accurate test results, allowing healthcare professionals to initiate timely treatment, which is crucial in managing dengue cases.
US officials discuss bilateral trade workers' rights with BGMEA
Bangladesh and the United States have expressed willingness to work collaboratively towards a more sustainable and worker-friendly future for Bangladesh's RMG industry.
A high-level delegation representing the Office of the U.S. Trade Representative (USTR) and the U.S. Department of Labour met Faruque Hassan, President of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), on September 19.
The meeting, which took place at BGMEA Complex in Dhaka, aimed to discuss a variety of crucial issues, including bilateral trade opportunities, environmental sustainability, workplace safety, workers' rights, and wellbeing.
The U.S. delegation consisted of Brendan Lynch, Acting Assistant U.S. Trade Representative (AUSTR) for South and Central Asia; Mahnaz Khan, Director for South Asia, Office of U.S. Trade Representative; Christopher Kazlauskas, Deputy Director, Office of Trade & Labour Affairs, U.S. Department of Labour; Seamas Whitesel, Director for South Asia Regional Affairs, National Security Council; and Leena Khan, Labour Attaché, U.S. Embassy, U.S. Department of Labour.
BGMEA was represented by its President Faruque Hassan along with Vice President Shahidullah Azim, Vice President Md. Nasir Uddin, Directors Barrister Shehrin Salam Oishee, Faisal Samad, Abdullah Hil Rakib, Haroon Ar Rashid, Chair of BGMEA Standing Committee on ILO Affairs ANM Saifuddin, Chair of BGMEA Standing Committee on Foreign Mission Cell Shams Mahmmud, and Chair of BGMEA Standing Committee on Press, Publication, and Publicity Shovon Islam.
During the meeting, BGMEA President Faruque Hassan provided an overview of Bangladesh's readymade garment (RMG) industry, emphasizing the industry's progress in areas such as workplace safety, green growth, workers' rights, and labour law reforms.
He also highlighted the government's initiatives to enhance workers' rights, particularly through amendments to labour laws, according to BGMEA.
Faruque Hassan further briefed the USTR and Labour Department officials about BGMEA's initiatives, including the arbitration-cum-conciliation committee (CAC), which offers alternative dispute resolution services to workers at no cost.
The CAC, led by a retired district judge, plays a pivotal role in resolving disputes between factory owners and employees, reducing the number of cases brought before labour courts and saving time and resources for workers.
Prime Bank, BASIS sign MoU to ease banking transactions
Prime Bank and Bangladesh Association of Software and Information Services (BASIS) signed a Memorandum of Understanding (MoU) to ease banking transactions for BASIS.
The agreement was signed in a ceremony organized at the BASIS office recently.
Read: Quality unmatched: Mercedes-Benz buses now in Bangladesh
Prime Bank Deputy Managing Director and CFO Mohammad Habibur Rahman Chowdhury and BASIS Secretary Hashim Ahmed signed the MoU on behalf of their respective sides.
The MoU was signed to provide an Export Retention Quota Account (ERQ) facility to BASIS member companies actively involved in outsourcing, BPO, business services, and professional and advisory services.
As a result, members can make payments (received through inward remittance) in USD accounts and BDT accounts simultaneously. A member may also transfer USD funds from his USD ERQ account to a foreign currency account for legitimate business purposes as per regulatory requirements and bank policy, said a press release.
Read: BGMEA calls for collaboration to create enabling environment for responsible business practices
Besides, members will have the facility of using an international card issued against their ERQ account.
BGMEA urges Chattogram Port Authority to continue capacity development efforts to meet growing trade demand
The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has called for enhancing the capacity of the Chittagong Port in line with the growing demand of export-import sector of Bangladesh, particularly the export-oriented readymade garment industry.
The trade association also laid emphasis on enhancing the port efficiency to handle export-import cargoes within the shortest possible time to reduce lead times.
Also read: BGMEA calls for streamlined bond services to boost RMG competitiveness
BGMEA President Faruque Hassan made the call during a meeting with Chairman of Chittagong Port Authority (CPA) Rear Admiral Mohammad Sohail.
Underling the importance of the port in accelerating the trade, the BGMEA president said the RMG industry of Bangladesh has set a target of achieving 100 billion dollars from garment exports by 2030, which necessitates increasing the capacity of the port to handle export-import goods.
The industry also aims to diversify from basic to high-end fashion segment to increase its export share in the global market. Such segment requires shorter lead time.
In this competitive business world, lead time reduction is necessary to remain ahead in market competition, he added.
Also read: BGMEA urges Custom House to make services faster and simpler for RMG industry’s competitiveness
Faruque Hassan thanked the CPA for taking all the steps that have led to smooth functioning in the Chattogram Port, urging them to continue the efforts to accelerate export-import activities.
BGMEA First Vice President Syed Nazrul Islam, Vice President Rakibul Alam Chowdhury, Directors A.M. Shafiul Karim (Khokon), M. Ahsanul Hoq, former Directors Helal Uddin Chowdhury and Anjan Shekhar Das, and, Chair of BGMEA Standing Committee on Trade Fair Mohammed Kamal Uddin, and Chair of BGMEA Standing Committee on Cash Incentive Humayun Kabir Salim were also present at the meeting held at CPA office in Chattogram on September 18.
Also read: BGMEA calls for collaboration to create enabling environment for responsible business practices
Commodore Mohammad Mahbubur Rahman, Member (Engineering); Md Habibur Rahman, Joint Secretary, Member (Admin and Planning); Commodore M Fazlar Rahman, Member (Harbour and Marine); Mohammad Shahidul Alam, Additional Secretary, Member (Finance); and other high officials of the CPA were present at the meeting.