local-business
FBCCI Board of Directors' poll on July 31, candidates submitting nomination papers
The poll to elect the Board of Directors of the Federation of Chamber of Commerce and Industries (FBCCI) will be held on July 31.
On the polling day, the FBCCI members will cast votes in favor of their chosen candidate from 9 am to 4 pm. The names of elected directors will be announced on that day.
The election to the posts of FBCCI president, senior vice-president, and six vice-presidents will be held on August 2 by the vote of elected directors for the period of 2023-2025.
FBCCI-HSBC to work together to boost exports between Bangladesh-UK
The FBCCI election schedule was announced on May 11, 2023.
Mahbubur Alam has submitted his nomination papers as the panel leader for the 2023-25 term of the board of directors of the FBCCI. He is the President of the Chittagong Chamber of Commerce & Industry and former Vice President of FBCCI.
If Mahbubur Alam is elected as the panel leader, then he will be the next president of the FBCCI. He submitted nomination papers on Saturday (July 1) to the Chamber Bhaban in Motijheel on Saturday.
FBCCI and Faction sign MoU to boost research, innovation
The chairman of the Election Board A Matin Chowdhury accepted the nomination papers while election board members Shamsul Alam and KMN Manjurul Haque were present at that time.
FBCCI president Jasim Uddin, Senior Vice President Mostafa Azad Chowdhury Babu, Vice President MA Momen, Amin Helali, Habib Ullah Don, MA Razzak Khan Raj, Former Senior Vice President Md. Ali, former vice president Helal Uddin, BGMEA president Faruk Hassan and other senior leaders of different associations were present.
Policy support needed in budget for import-alternative industry in Bangladesh: FBCCI President tells ERF discussion
Offices, banks, insurance, and stock market open on Sunday
The holy Eid-ul-Azha four-day holiday and weekend ends today (Saturday).
Offices-court, banks-insurances, and stock markets will open tomorrow Sunday (July 2).
Eid-ul-Azha, one of the biggest festivals of Muslim Ummah, is celebrated across the country on Thursday with honour of sacrifice.
Earlier, the government decided to extend Eid holiday by one day to four days. As a result, there were four days off from June 27 to 30 (Tuesday, Wednesday, Thursday, and Friday) on the occasion of Eid. The next day is July 1 (Saturday) weekend.
Read: Banks to remain open on June 27, 28 in industrial areas
As a result, this year's Eid-ul-Azha holiday was five days. Bank insurance, office-court, stock market, and private institutions will open on Sunday.
However, workers of 71 factories out of 9915 industries and factories of the country did not get Eid-ul-Azha to leave.
Read: Bangladesh Bank asks banks to set up booths in cattle markets to detect fake notes
Among them, the number of factories belonging to BGMEA, BKMEA, BTMA, BEPZA, and Jute Mills is 12 and the number of small factories is 59, the industrial police unit confirmed this information.
Read more: All banks have gone bankrupt: Kazi Firoz Rashid
Green chilli still selling at Tk600 per kg
Green chillies are being sold at Tk600 per kg in the capital.
This was ascertained from visiting kitchen markets on Saturday, the third day of Eid-ul-Azha.
The retailers claimed that the supply of pepper has decreased due to rain and transport crisis due to the Eid journey. So the price is upward.
Read: Green Chilli import through Hili land port begins
Visiting Karwan Bazar Kitchen Market on Saturday, the UNB correspondent saw green chillies being sold at Tk600 per kg.
Rakib, a retailer of green chilli at Karwan Bazar, said that there is no scope to sell green chilli at a lower price, as he bought one palla (5 kg) of green chilli from wholesale at Tk 2500.So a kg of green chilli has to be sold at Tk600, otherwise he would face a loss.
Read: Bangladesh allows green chilli import as price keeps rising
When asked regarding the reason for such a price, he blamed short supply due to Eid. Cargo vehicles are not entering Dhaka from outside.
Besides, due to the rains, the fields of green chilli have been affected. Hence the higher price. After the Eid holiday, when everything resumes, maybe the price will decrease, Rakib said.
Read more: Floods push up green chilli prices in Dhaka kitchen markets
Efforts on to break syndicates behind essentials’ price hike :Commerce minister
Commerce Minister Tipu Munshi on Saturday said efforts are on to crack down the syndicates involved in raising prices of of essential commodities in the country.
He said this while talking to journalists at the opening ceremony of ‘District Young Launching’ of Rotary Club at Shaheed Abu Naser Specialized Hospital in Khulna on Saturday.
Read: Chilli price hike heats up Barishal markets
“We are trying so that no syndicate can work. Syndicates of traders are active for years, as a result it is taking time but we are trying.”
He also said the government has been providing one crore families with food at a low price and they have been trying to help people at level best.
Read: With Eid-ul-Azha approaching, Khulna cattle famers distraught over price hike of fodder
Khulna City Corporation newly elected Mayor Talukder Abdul Khaleque, Rotary Club District Governor Md Ashrafuzzaman Nannu and Zonal Event Chair SM Nazrul Islam, among others ,were present at the ceremony.
Read more: If people don’t buy in excess, there will be no price hike of essentials ahead of Ramadan: Tipu Munshi
US-Bangla to start Dhaka-Delhi direct flights from July end
US-Bangla Airlines is going to start direct flights to its 12th international destination, India's capital Delhi, from the last week of July.
Flights will run on the Dhaka-Delhi route four days a week -- Monday, Tuesday, Wednesday, and Friday -- to Delhi, one of the lucrative destinations in South Asia, said a press release.
Read: Nagad offers smart payment option at cattle markets
US-Bangla is about to fulfill the long-awaited expectations of Bangladeshi tourists and travellers who are interested in getting advanced medical care, and education in various universities in Delhi.
The decision to operate US-Bangla flights to Delhi, the capital of India, is set to further strengthen the ties between the two friendly countries, added the release.
Delhi will be US-Bangla's third direct route to India. Currently, it is operating flights on Kolkata and Chennai routes in India.
As part of future plans, US-Bangla Airlines is going to start operating flights with Boeing 737-800 aircraft to Delhi.
Read: Walton reports marked rise in sales of its fridges ahead of Eid-Ul-Azha
Currently, the US-Bangla fleet has a total of 19 aircraft, including 8 Boeing 737-800.
For the first time, two Airbus 330s are going to be added to the US-Bangla fleet by next August. With this, there is a plan to operate flights from Dhaka to Jeddah route this year.
Apart from Chennai, Kolkata, US-Bangla Airlines is currently operating flights to Dubai, one of the Middle East destinations, Sharjah, Muscat, Doha, Kuala Lumpur inhabited by expatriate Bangladeshis, Singapore, Male, one of the tourist-friendly destinations Bangkok and Guangzhou one of the commercial cities of China.
Sensing increased demand, traders hike prices of Eid essentials in Dhaka
In the last 48 hours leading up to Eid ul Azha, some unscrupulous traders in capital Dhaka have jacked up their asking price for essential Eid items that are certain to be in high demand during this period.
Visiting one of the capital's busiest markets in Malibagh, UNB found the prices of three such items - aromatic rice, the essential ingredient in pulao, vermicelli, which is used to make popular dessert shemai, as well as jwarda, and sugar, which is used in almost any at a higher price as the traders raised the price of these items ahead of Eid-ul-Azha.
Although there is no change in the prices of packaged products, traders have increased the prices of the products that are being sold in the open market.
Also read: Tipu Munshi under fire in Parliament for runaway prices of essentials
On Tuesday (June 27), aromatic rice was being sold at Tk 140 to Tk 160 per kg, while packaged aromatic rice (Chinigura) is being sold at Tk 170 per kg.
Similarly vermicelli was being sold at Tk 120-130 per kg on Tuesday in loose form. But just two days ago the same vermicelli was being sold at Tk 100-110 per kg. A different variety, laccha vermicelli, was sold at Tk 125-135 per kg on Tuesday, but this was only Tk 110-120 per kg two days ago. In packed form, a 200-gram packet of laccha is being sold at Tk 50, which is a much higher price per unit.
The price of sugar meanwhile remains sticky upwards, with unpacked or loose sugar being sold at Tk 140-150 per kg at Malibagh kitchen market.
Also read: Without monitoring, prices of daily essentials soar in Khulna kitchen markets
Some market-goers lamented they had not yet completed the purchase of their sacrificial cattle, for which they would be going back to the haats in the evening. Many consumers had come to the market braving the afternoon drizzle to complete their kitchen-market purchases. The somewhat sudden hike in the prices of some items left them disappointed.
“I am surprised to see the asking price for most of the essential items jumped by Tk 20 to 30 per kg,” said one such consumer, Abdul Alim, a service-holder by profession. But the traders vigorously defended their move.
Also read: With higher spice prices, consumers feeling the pinch this Eid-ul-Azha
Farooq Hasan, who runs the Haji Farooq General Store in Malibagh market, said their asking price simply reflects that prices have gone up across the board.
“The price of everything is high, so we have to sell at higher prices," said Farooq in a matter-of-fact way.
“Yes I am selling aromatic rice at upto Tk 160 per kg - whoever wants to can buy it. I am not forcing anyone. I am here to make a profit, not a loss,” Farook added.
Shahin Howladar, a businessman of Barisal General Store in the same market, said that he is selling open sugar at Tk 140 to Tk 145 a kg, and good quality sugar for Tk 150 per kg.
Also read: Spice prices soar in Faridpur ahead of Eid-ul-Azha
Meanwhile, broiler chicken is still being sold in the capital at Tk 190 to Tk 200 per kg. Sonali Coke is being sold at Tk 300 to Tk 310 per kg. Domestic indigenous chicken is being sold at Tk600 to 650 per kg.
According to the information of Trading Corporation of Bangladesh (TCB), the state-owned market price regulator, broiler chickens are being sold at Tk 160 to Tk 170 on Tuesday. Sugar is being sold at Tk130 to 140.
Among powdered milk, 1 kg Dano, Diploma, and Fresh milk are being sold at Tk 840 per kg and Marks milk is selling at Tk 830 per kg.
Coca-Cola Bangladesh supports sustainable community through tree plantation initiative
Coca-Cola Bangladesh Beverages Limited distributed over 20,000 saplings to various institutions as part of their tree plantation and environmental awareness program in the Mymensingh division.
The initiative -- in collaboration with the Department of Environment, Mymensingh, and Divisional Forest Office, Mymensingh -- is set to benefit 40,000 community members, according to a press release.
Addressing the challenge of building climate resilience in the country, Coca-Cola Bangladesh Beverages has undertaken several endeavors, including transitioning to Net Zero, Water Stewardship, and World Without Waste, to support the achievement of Sustainable Development Goals (SDGs), the press release reads.
The tree plantation and environmental awareness program were arranged in celebration of World Environment Day 2023, with the theme for this year's 'National Tree Plantation Campaign' and Tree Fair being 'Gach lagiye Jotno Kori, Sushtho Projonmoer Desh Gori' (Plant Trees to Ensure a Healthy and Sustainable Future for Our Nation).
A N M Abdul Wadud, Divisional Forest Officer, Department of Forest, expressed appreciation for Coca-Cola Bangladesh Beverages' initiative in organizing such an impactful program on the occasion of World Environment Day and the National Tree Plantation Campaign 2023 through a public-private partnership.
“Similar collaborations as such will enhance peoples’ awareness on the importance of tree plantation and building climate resilient communities and motivate others to come forward to work towards this goal,” he said.
Dilruba Ahmed, Director, Department of Environment, Mymensingh, applauded the endeavor, stating that it is the responsibility of society to create a safer world for future generations. Ahmed commended the government's efforts, led by Prime Minister Sheikh Hasina, in conserving the environment and tackling climate change.
“It is commendable that Coca-Cola Bangladesh Beverages is playing its part in this transformation journey as a responsible partner. We require more such successful public-private initiatives to save the environment and combat climate change,” she said.
Anowarul Amin, Director of Public Affairs, Communications, and Sustainability at CCBB, expressed the belief that such initiatives play a significant role in ensuring a sustainable future by reducing carbon emissions and contributing to the achievement of the SDGs.
“Every tree planted today is an invaluable investment for tomorrow, and it is up to us to enable the future generations to recognize the significance of such investments,” he said.
Amin expressed gratitude to the Department of Environment, Mymensingh, and the Divisional Forest Office, Mymensingh, for their invaluable support in organizing the program.
During the event, the saplings were handed over to the youth as symbols of building a resilient future.
Abdul Hannan, Director of Legal Affairs at Coca-Cola Bangladesh Beverages was present at the program among others.
Trade between Bangladesh and India through Hili land port to remain suspended for 6 days for Eid-ul-Azha
Export-import activities between Bangladesh and India through the Hili land port will remain suspended for six days, on the occasion of Eid-ul-Azha, one of the largest Muslim festivals.
Read: Green Chilli import through Hili land port begins
Md Mostafizur Rahman, general secretary of Hili Land Port Import-Export Group, said that trade activities will remain closed from June 27 to July 2 for the Eid holidays.
“Trade activities will resume at the land port from July 3,” he said.
Dollar exchange rate for repatriated export income increased to Tk107.5
The US dollar exchange rate has been increased by Tk 0.5 to Tk107.5 per dollar for repatriated export income.
This decision was taken at a meeting of the Bangladesh Foreign Exchange Dealers Association (BAFEDA) and Association of Bankers Bangladesh (ABB), the organization of top executives of banks, which are involved in foreign exchange transactions, held on Monday.
Since September 2022, a joint committee of BAFEDA and ABB has been tasked with setting the exchange rate of taka against the US dollar, the world's reserve currency. It was meant to be a move towards a floating exchange rate, but it hasn't worked out that way.
Economists have decried the prevalence of multiple exchange rates, and called for a move towards a single, unified exchange rate, but the BAFEDA-ABB committee has so far failed to realise that demand.
Read: US Dollar rate Tk108.5 for remittance, Tk107 for exports from Thursday
Following today's announcement, the exporters will get Tk107.5 in the local currency against each dollar.
On the other hand, in case of expatriate income (remittances), the dollar rate remains unchanged at Tk 108.5.
Meanwhile the maximum interbank rate will be Tk109 per US dollar, also unchanged.
The dollar crisis in the country became evident since March last year, in the wake of the Russia-Ukraine war.
To deal with this crisis, Bangladesh Bank fixed the price of the dollar exchange rate in the beginning, but this made the crisis worse.
Later last September, Bangladesh Bank officially withdrew from the responsibility of determining the exchange rate. This responsibility was given to ABB and BAFEDA, but it is done in consultation with the central bank.
Read: ABB, BAFEDA will meet tomorrow to set uniform dollar rate for banks
Since then, these two organizations have been jointly fixing the dollar price for export and repatriation income and payment of import liabilities. Basically, these two organizations are implementing the decision of Bangladesh Bank.
Read more: US dollar rate soars to Tk112 in kerb market amid franctic purchase
Walton reports marked rise in sales of its fridges ahead of Eid-Ul-Azha
Demands as well as sales of fridges have already gone up sharply across the country on the eve of Eid-ul-Azha, considered as the second largest religious festival of the Muslims, to be observed on June 29.
Like every year, Walton brand fridges are at the top of customer's preference. On the eve of Eid-Ul-Azha, locally known as Qurbani Eid, customers are thronging at Walton outlets to purchase their desired refrigerator and freezer, according to a media release of the business organization on Monday.
Walton Plaza managers, distributors and zonal in-charges from Dhaka, Chattogram, Rajshahi, Khulna, Rangpur, Bagerhat, Bogura, Sylhe, Feni, Narsingdhi and other parts of the country informed that there is a sales bonanza of fridges in their outlets.
They said more than 250 models of frost; non-frost refrigerators and freezers are available in the market and prices of those have been fixed considering buying capacity of all classes of income groups.
Centering the upcoming Eid, Walton released an energy saving 50 plus new model of refrigerators with the world's latest technology such as inverters, advanced features and doors, it said.
Customers are also assured of swift and best after sales service under the largest service network in the country. And thus, majority customers have kept their trust and faith in Walton fridge in this year's eid.
Walton has been conducting digital campaign season-18 across the country since May 15 this year. In this season, buyers are getting lakhs of gifts including free cars by buying fridge, TV, air conditioner or washing machine from any Walton Plaza, distributor showroom and online sales platform e-plaza in the country. This offer will continue till July 15.
As of now, four customers of Brahmanbaria, Naogaon, Jessore and Narayanganj got free cars in this season. Moreover many have received various types of free products.
Read: Walton Plaza inaugurated in two new districts
Walton Refrigerators' Chief Business Officer (CBO) Tofail Ahmed said this year the time is very good for the sale of fridge due to political stability, intense heat of summer, no flood as well as corona pandemic before this year's Eid like the previous year.
He claimed that there is a sales bonanza of fridges in Walton outlets. About more than 10 percent of fridges have been sold compared to the previous occasion.
Meanwhile, about 65 percent of the annual refrigerator sales target, set by Walton, has been achieved.
In this Eid, more than 250 models of frost, non-frost refrigerators and freezers of Walton brand with a capacity of 50 liters to 646 liters are available in the market. Among these, over 50 new models of fridges with advanced features and doors are released centering the Qurbani Eid.
The new models include huge energy efficient inverter technology' advanced features AIoT based smart side by side refrigerator, glass doors, BSTI's highest 5-star energy rating certified frost and non-frost fridges. Besides, Walton brand's 22 models of freezers are also available in this Qurani Eid.
Buyers can buy these Walton fridges in a range of Tk 17,000 to Tk 1, 55, 000.
In this Qurbani Eid, vertical freezer with a capacity of 325 liters, convertible freezer with a capacity of 255 liters and the world's first 8-in-1 convertible refrigerator with a capacity of 646 and 619 liters are the new surprises of Walton.
Read: Walton sees surge in fridge sales ahead of Eid-ul-Azha
The 255-liter convertible mood freezer can be converted into a normal fridge once needed. The customers can set the cooling performance of the fridge and freezer compartment of Gianttech series 8-in-1 convertible mood 646 liter GT Pro and 619 liter GT model refrigerators. It will consume less electricity.
Buyers are getting one year replacement warranty, 12-year compressor guarantee and 5-year free after-sales service on Walton fridge.
Walton has the largest team of service experts and ISO certified service management system in Bangladesh to deliver fast and best after sales service to customers. Under this, Walton is providing the highest level of after-sales service at a very short time to the customers through its nationwide 80 service centers spread across the country.
Read more: Walton exports ‘Made in Bangladesh’ ACs to Yemen and Mali