United News of Bangladesh

Business leaders, belonging to the Press and Media Standing Committee of Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), urged the authorities concerned to reduce the burden of taxes on all news outlets including newspapers, television channels and online news portals etc. They also called upon the government to announce newspapers as an industry of mass importance. The business leaders made the remarks while addressing a meeting organised by the standing committee held in the FBCCI office in Dhaka’s Motijheel area on Tuesday. Chaired by Shoeb Chowdhury, chairman of the standing committee and former FBCCI Director, FBCCI President Mahbubul Alam joined the meeting virtually as the chief guest while Director-in-Charge Md. Rakibul Alam (Dipu) participated in the event in person. President Mahbubul Alam said that the substantial role played by mass media in Bangladesh is immeasurable since the independence to the country’s present socio-economic development journey. Media outlets have highly contributed to the advancement of business and economic progress of Bangladesh, he said. The business leader laid emphasis on the fact that media outlets have to work very professionally and competently to deal with the challenges of days to come while approaching the goal of building up Smart Bangladesh. It is vital to ensure sustainable development of the newspaper industry. FBCCI Senior Vice President Md. Amin Helali said that it is essential to identify the obstacles that hinder media outlets and to involve all stakeholders in this arena with the above-mentioned standing committee to overcome different drawbacks. He stressed that necessary policy amendments need to be brought about through negotiating the relevant issues with the ministry concerned. Shoeb Chowdhury said, “Media houses have to survive like all other industries by means of doing business. So, certain facilities and privileges need to be provided to media houses. Taxes imposed on papers, inks, printing appliances need to be reduced. The existing taxes on the television channels’ bandwidth should be brought down too.” He said that there should be special allotment in the supplementary budget for press and media. Director-in-Charge Rakibul said that a seminar will be soon organised with the top brass of Information and Broadcasting Ministry and Commerce Ministry and other stakeholders and a strategic paper will be prepared for this purpose. Members of the standing committee exchanged views on facilitating loan disbursement for media workers, ensuring journalists’ remunerations and bonuses, cooperation from different departments and government offices to simplify and speed up the procurement of supplements and advertisements, rapid clearance of pending bills from government organizations and some other points. The standing committee members also said that it is required to arrange meetings between FBCCI leaders and editors, owners, journalists associated with television channels and newspapers every three months. Simultaneously the discussants placed importance on inspiring journalists to publish objective and authentic reports and to abstain from unethical journalism. The meeting was also attended, among others, by the Prime Minister’s former Press Secretary AKM Shameem Chowdhuri, LGRD Ministry’s Board of Governors member Borhan Uddin Ahmed, FBCCI director Haji Harun Ur Rashid, Managing Director of Cute Cosmetics Limited Kazi Rajib Ahmed, Head of FBCCI International Affairs Wing Jafar Iqbal NDC, committee co-chairman Akkas Mahmud, Mohammad Nizam Uddin Jitu, Ejaz Mohammad and Tawhida Sultana.

A delegation from the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), led by President S. M. Mannan (Kochi), met Foreign Minister Dr Hasan Mahmud at the ministry in Dhaka on Tuesday and sought Foreign Ministry’s cooperation in product, market diversification for RMG sector. The BGMEA delegation included Senior Vice President Khandoker Rafiqul Islam, Vice Presidents Arshad Jamal (Dipu), Abdullah Hil Rakib, Miran Ali, Directors Md. Imranur Rahman, Mohammad Sohel Sadat, Shams Mahmud, Rajiv Chowdhury, Md. Mohiuddin Rubel, Barrister Shehrin Salam Oishee, Md. Nurul Islam, and Saifuddin Siddiquie Sagar. They discussed product diversification and strategies to enhance ready-made garment exports to new markets. During the meeting, the BGMEA President emphasized the significance of market and product diversification to reach the goal of achieving $100 billion from garment exports by 2030. He noted that garment exports to new markets have increased from $847 million to $8,370 million with government policy support over the past 15 years. BGMEA seeks the cooperation of Bangladesh's relevant embassies in organizing roadshows, networking with buyers, and participating in key fairs to increase exports to new markets, particularly to Brazil, Argentina, Russia, South Africa, Turkey, and ASEAN countries. He also highlighted the importance of bilateral and regional free trade agreements with these potential markets. During the meeting, the BGMEA President sought the Foreign Ministry's support in addressing the potential impact of LDC graduation on the country's export trade and continuing duty-free facilities in major export markets. The Foreign Minister emphasized the need to diversify into new products and explore new markets, especially in Africa, South America, and ASEAN countries. He assured the delegation of the Foreign Ministry’s full cooperation in this regard, mentioning ongoing discussions with various countries to remove tariff barriers in these potential markets.

Tour Operators Association of Bangladesh (TOAB) on Monday announced the launch of the TOAB International Tourism Award (TITA) . The announcement came from a press conference in the city. The award ceremony will take place on May 29, at 7.00 pm at a city hotel, said a press release. This initiative aimed at recognizing and celebrating outstanding contributions to the promotion of tourism locally and internationally.  DSE chairman urges NBR not to impose new tax on capital gains TOAB will honour individuals, organizations, and initiatives that have demonstrated excellence and innovation in enhancing the local and global tourism industry especially in the neighbouring countries.  The award will recognise achievements in various sectors, including travel services, cultural tourism, ecotourism, and responsible tourism practices. ERF warns of sit-in protest over journalist ban at Bangladesh Bank The event will feature distinguished guests, industry leaders, and key stakeholders.  Civil Aviation and Tourism Minister Muhammad Faruk Khan is expected to join the event as the chief guest.

Bangladesh is going to organize a big roadshow in the USA next Friday (May 24) with 30 managing directors of different domestic banks to attract dollar deposits in response to recent foreign exchange fluctuations. A total of 45 officials, including MDs of 30 banks are going to the USA for the special promotion program to increase US dollar deposits in banks through offshore accounts. Such a big gathering of Bangladeshi bank MDs will be held first time ever abroad. According to the source, commercial banks are launching special campaigns to increase the flow of dollar deposits. Expatriates will be encouraged to send dollars through banking channels. For this purpose, a program related to Offshore Banking Fixed Deposit has been organized for expatriates in a hotel in New York. Bangladesh Ambassador to the United States Mohammad Imran, will be present as the chief guest at the event. Muhammad Abdul Muhith, Permanent Representative of Bangladesh to the United Nations in New York, Deputy Governor Kazi Sayedur Rahman, Bangladesh Consulate General in New York Md. Najmul Huda will be special guests. This gathering, aimed at exploring opportunities in offshore banking, underscores the growing interest among Bangladeshi banks in diversifying their foreign currency reserves. As a part of this, it is said that a promotional event has been organized in the country to encourage Bangladeshis residing in the United States to deposit dollars under offshore banking.

Mistine, the leading cosmetics brand in Thailand since 1988, made its grand opening on Friday at Jamuna Future Park in Dhaka. Founded over 36 years ago, Mistine is dedicated to providing consumers with high-quality, innovation and cutting-edge technologies cosmetic solutions, said a press release issued on Sunday. Today, its diverse product line includes over 4,000 items ranging from cosmetics and skincare to haircare, personal care, sunscreens, fragrances, children's products, and household goods. With a strong international reputation for quality, Mistine enjoys a loyal global following and is poised to meet the increasing demand for Thai cosmetic products in Bangladesh. This launch marks a significant step in Mistine’s strategy to expand its footprint and offer Bangladeshi consumers direct access to its extensive range of beauty solutions. The highlight of the launch was the introduction of the "Mistine Acne Clear Facial Foam," featuring a new formula with VITC and Avocado, designed to enhance and refresh natural beauty in line with our "Freshen Up Your Beauty" theme. Presence of renowned social media influencers like Barisha Haque, Lamia Redwana Priotee, Ayesha Akter Towshi along a dynamic lineup of activities, grand prize opportunities, and entertainment, including live music performances by Blue Jeans and Asies made the event enjoyable for the audiences. Panom Thongprayoon, Charge D affairs, Royal Thai Embassy Dhaka had his gracious presence in the event as a special guest. Chalermphol Suwanprateep, Oversea Business Development and Trading Manager of Mistine was also present during the grand launch. As Mistine continues to broaden its product offerings, encompassing a comprehensive range from head to toe, it is set to become the preferred brand for an expanding consumer base across Bangladesh.

The consumers in Dhaka are feeling the heat of inflation as price hike continues amid higher interest rates. Prices of almost all consumer items including fish, eggs, vegetables, and other daily essentials saw their prices highest in a decade. Vegetables, meat, chicken, and fish prices have remained stable, but at higher rates, said several consumers of different professions. Talking with UNB they said that higher prices of almost all vegetables, fish, chickens, meat, and other essential commodities are unlikely to decrease for now. BFTI holds stakeholders meeting on potentials of light engineering sector Abul Hossain, a mid-level official of an autonomous organisation ltold UNB that the taka has slid from 84 to 117 against the US dollar, which severely affected the consumer market. Not only devalued taka, but also prices of utilities , and fuel have increased, interest rate soared. All of this rate hike impacted the consumer market, he said. Many others echoed Abul. Egg price is on higher trend over last 10 days and selling this popular protein item at Tk160 per dozen on Friday in the capital. It saw an increase of price by Tk25 in last two week. Visiting different kitchen markets including Karwan Bazar, Mohammadpur, Mohakhali, and Malibagh this correspondent observed that eggs were selling at Tk 160 per dozen. Egg of domestic rearing hen was selling at Tk 75 to 80 per hali (4 pieces) and duck egg was selling at Tk 70 to 75 per hali. The price of broiler chicken and Pakistani origin sonali chicken have increased by Tk10 to 20 per kg compared to the last two weeks. The boiler chicken was selling at Tk 220 to 2235 per kg based on size and quality. Apart from this, the price of Sonali chicken has also increased and being sold at Tk 345 to 3070 per kg based on size and quality. Prices of egg, chicken and fish up while vegetables stable at higher rate Similarly, cock chicken was being sold at Tk 370 to 390 per kg, layer chicken at Tk 300 to Tk350 per kg, and indigenous (desi) chicken at Tk 670 to Tk 765 per kg. The traders of the concerned sectors said that prices of chicken increased due to price hikes of chicken food and broiler chicks. Beef was selling between Tk 750 to 780 per kg on Friday based on quality, and saw a raise of price by Tk 30 per kg than other days of the week. Mutton and goat meat was selling at Tk1000 to 1180 per kg based on quality, which saw an increase of Tk 50 per kg. Hilsha weighing about 450 gram was selling at Tk650 per kg while Hilsha weighing 1.0 kg plus were selling at Tk 1800 to 2000 per kg at Karwan Bazar fish market on Friday. Hilsha weighing 700 to 800 grams were selling at Tk 900 to 1000 per piece. Fish like Ruhit and carp were selling between Tk 300 to 450 per kg based size and quality. Others fish including riverine small fish were selling at Tk400 to 700 per kg on Friday. LPG gets cheaper by Tk 49 per 12-kg container The prices of vegetables have remained stable at higher rate this time compared to the previous years. Traders blamed inflation for this higher price. Vegetables including eggplant, okra, drumsticks, string beans, and bitter gourd were stable between Tk 50 to 60 per kg on Friday. The prices of tomatoes have increased as the season is ending. Good quality tomatoes were selling between Tk 60 to 70 per kg. Vegetables like brinjal and others were selling between Tk 50 to 60 per kg, bottle gourd, ash gourd, and cauliflower at Tk 50 to 60 per piece. Local variety of onion was selling between Tk70 to 80 per kg, garlic at Tk180 to 250, and ginger at Tk200 to 280 per kg based on quality. The prices of other commodities including rice, wheat, flour, milk, soybean, and aromatic rice have remained unchanged.

As Eid-ul-Azha 2024 approaches, Bengal Meat has introduced online Qurbani Haat for the 10th consecutive year, continuing its tradition of easing customers' concerns during Qurbani. The announcement was made during a press conference held at Bengal Meat's head office in Dhaka on Wednesday. Through the online platform qurbani.bengalmeat.com, customers can select and purchase cattle, goats, and sheep, as well as opt for meat processing services and delivery options, said the officials of the company. They stated that Bengal Meat ensures that the sacrifices of cattle are conducted in a halal manner under the supervision of Islamic Foundation representatives. "The meat is then processed and delivered to customers while adhering to proper cold chain protocols." The officials also said the initiative aims to address customers' concerns about visiting traditional cattle markets, performing sacrifices in open spaces, and processing meat through unskilled butchers. Bengal Meat’s Project Managers Mohammad Hasan Iftekhar and Mohammad Rakibul Islam, Head of Retail Sales Mohammad Hares, and Head of Marketing Sheikh Imran Aziz were present at the press conference. “The entire programme has been designed with respect for the religious sentiments of Muslims aiming to provide maximum benefits to customers,” said Imran Aziz. He highlighted Bengal Meat's commitment to providing disease-free, well-reared cattle and ensuring every sacrifice is conducted in a halal manner under the supervision of an Islamic Foundation representative. “We maintain world-class certified meat processing standards and proper cold chain delivery,” claimed Imran Aziz. He said their Qurbani service also features organic grass-fed cattle, catering to customers seeking naturally raised and lean meat. "Bengal Meat has been recognised as the most trusted and halal Qurbani platform for nine consecutive years. Customers who have availed our services once continue to choose Bengal Meat for their Qurbani-related needs every year," observed Imran Aziz.

The waiver from complying with Public Procurement Rules (PPR) for Trading Corporation of Bangladesh (TCB) has been extended for another year up to June 2025. Cabinet Committee on Economic Affairs (CCEA) in a meeting with Finance Minister Abul Hassan Mahmood Ali in the chair took the decision. The finance minister virtually joined the meeting as he tested Corona positive after returning from abroad. Briefing reporters about the outcomes of the meeting Md. Mahmudul Hossain Khan, Secretary, Coordination & Reforms at the Cabinet Division, said after the approval, the state marketing agency TCB can import or procure any essential product through direct purchase method (DPM). Onion imports resume as India lifts export ban “The TCB will not need to mandatorily follow the PPR in its direct purchase of any product. This facility has been given to TCB so that it could collect products for low income people who buy products from open market sale (OMS),” said the official. He said sometimes TCB has to procure directly on an emergency basis as part of a market control mechanism.   Meanwhile, in a separate meeting, Cabinet Committee on Government Purchase (CCGP) approved a proposal of the TCB to procure 10,000 metric tons (MT) of lentil through open tender process from local supplier Ease General Trading and Nabil Naba Food Products at a total cost of Tk 101.40 crore with each kg at Tk 101.84.   Despite inflation slightly easing in April, rising food costs continue to impact low-income families Of these, the EASE Trading will supply 6,000 MT of lentils while Nabil Naba will give the remaining 4,000 MT. The product will be sold through OMS.

A truck carrying 30 metric tons of onions entered Bangladesh from India at 6:25 pm on Tuesday today. This marks the resumption of onion imports through Hili Land Port after nearly six months of hiatus. The Indian government lifted its ban on onion exports on May 4. Ahmed Ali, an importer at the port, said that the Indian government had lifted the export ban on onions and fixed the export price at $550 per metric ton. In this situation, 'LC' is opened for importing onions from India. Although they expected the Indian government to impose an additional 40% duty on exports, they did not do so. He further explained that the cost of importing onions per kilogram is currently Tk 70. If the prices do not fall, they will be forced to stop onion imports. Muhammad Yusuf Ali, Deputy Coordinator of the Hili Land Port Plant Quarantine Center, revealed that the Indian government had suspended imports to manage their domestic deficit. Nearly 20 importers from Bangladesh applied for permission to import onions to the country on March 31. He further disclosed that an importer had imported 30 metric tons of onions through the Hili Land Port. Since onions are perishable goods, they have begun the process of clearing them quickly. Regarding the increase in domestic production, a letter signed by Santosh Kumar, Director General of India's Foreign Trade Department, on December 7 last year, imposed a ban on onion exports until March 31. Since then, onion imports from India have been suspended through various ports in the country. On March 23, the ban deadline was extended, declaring an indefinite halt to onion exports. Bangladesh was among six countries that received an exemption from the ban.

Bangladesh Foreign Trade Institute (BFTI), an entity of the Ministry of Commerce, organised a stakeholders meeting as part of its research initiative titled: “Potentials of the Light Engineering Industry/Sector in Bangladesh” on Tuesday at the organisation's conference room. The BFTI took up the research programme on behalf of the Bangladesh Investment Development Authority (BIDA). Chief executive officer of BFTI and former senior secretary of the Ministry of Commerce Md Zafar Uddin was present as the chief guest in the meeting. M. Mizanur Rahman, Director (Joint Secretary) of BIDA, was present as a special guest in the meeting while BFTI Director Md. Obaidul Azam presided over the event. Addressing the event Md Zafar Uddin said light engineering is a potential industry. The government has taken various steps for the development of this sector and all the ministries and agencies of the government are working together. "BFTI is delighted to get the responsibility of conducting the study under the initiative of BIDA,” he said. Special guest M. Mizanur Rahman, Director (Joint Secretary) of Bangladesh Investment Development Authority (BIDA) said, “The scope of light engineering industry is very large. The government is giving importance to the light engineering industry." "There is huge potential to attract investment in this industry,” he added. President of Bangladesh Engineering Industry Owners Association (BEIOA) Abdur Razzak and representatives of different public and private sectors also spoke on the occasion.