Business
Biman resumes direct flight to Guangzhou
Biman Bangladesh Airlines resumed its direct flights between Dhaka and China’s Guangzhou on Thursday.
Biman flight BG366 with 146 passengers departed Hazrat Shahjalal International Airport at 10:20 pm and will arrive in Guangzhou at 4:00am (local time) on September 15 (Friday), said Md Siddiqur Rahman, director (admin) of Biman Bangladesh Airlines.
Read: Bangladesh Biman Corporation (repeal) Bill 2023 passed in JS
Following the resumption, there are now six weekly round-trip flights on the route, with a capacity of more than 900 passengers, he added.
Biman flights will depart from Dhaka every Sunday, Tuesday and Thursday at 10:20 pm for Guangzhou and every Monday, Wednesday and Friday from Guangzhou to Dhaka at 05:30 am (local time).
Read: Biman’s Dhaka-Narita direct flights will boost Bangladesh-Japan trade, relations: BCCIJ president
Biman offered a discount on the occasion of the resumption of direct flights on the route. A 15 percent discount on base fare by using promocode HAPPYCAN23 on ticket purchase from Biman's website www.biman-airlines.com and mobile apps.
The passengers can purchase their tickets for this route from Biman's commercial website www.biman-airlines.com, mobile apps, any Biman sales centre, Biman call centre 01990997997 and Biman-authorised travel agencies.
Read: Govt will decide on ground handling at Dhaka airport’s third terminal and Biman is ready: CEO
The direct flight on Dhaka-Guangzhou-Dhaka route was suspended from March 16, 2023.
Adani Wind receives certification for India’s largest turbine
Adani Wind, the wind energy solutions division of Adani New Industries Limited (ANIL), announced that its 5.2 MW Wind Turbine Generator (WTG), which is India’s largest, has received type certification from WindGuard GmbH.
In a recent media statement, it said the certification enables Adani Wind to start series production for global markets.
The certification under IEC System for Certification to Standards Relating to Equipment for Use in Renewable Energy Applications (IECRE) affirms that the Adani Wind’s 5.2 MW WTG meets highest quality and safety standards and provides international recognition to this turbine.
The type certification acknowledges Adani WTG’s conformity with the globally recognized IEC 61400 series standards and regulations for design, testing and manufacturing. WindGuard carried out the testing of the WTG prototype, installed in Gujarat’s Mundra.
Mr Vneet Jaain, director, Adani New Industries Limited, said, the type certificate reaffirms the quality and robustness of our 5.2 MW WTG platform built to bring down Levelized Cost of Energy (LCOE).
The certification is a boost to our endeavor of making India the global manufacturing hub for renewable equipment, he added.
Mr Milind Kulkarni, Chief Operating Officer (COO), Adani Wind, said, “The certification is a testament to our R&D efforts focused on enabling higher Annual Energy Production (AEP) of wind power plants and enhancing the profitability for customers. We thank our team for their commitment and unwavering focus on leveraging technology to enable affordable, reliable, and sustainable power for all.”
Steel has huge potentials for exports to Commonwealth countries: RRM Group Chairman
Chairman of RRM Group and Vice President of Bangladesh Steel Manufacturers Association Dr. Suman Chowdhury said on Thursday that the steel industry is already over capacity of 5 to 6 million tonnes of steel, which can be exported to Commonwealth countries.
"It can be a potential item for exporting. Industries have already set up many factories and increased capacity seeing earlier growth," he told a seminar in Dhaka.
The seminar was held during the Commonwealth Trade and Investment Forum that ended on Thursday in Dhaka with the promise of enhancing cross-border investment to flourish respective economies. Bangladesh hosted the conference for the first time in collaboration with the Commonwealth Enterprise and Investment Council (CWEIC). Prime Minister Sheikh Hasina inaugurated the programme on Wednesday.
DSE, BGMEA join forces to support RMG enterprises in capital market
The Dhaka Stock Exchange Ltd. (DSE) and the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) have signed a memorandum of understanding (MoU) to foster collaboration and support the country's readymade garment sector in accessing capital market services.
Under this MoU, DSE and BGMEA aim to assist RMG enterprises in raising capital from both domestic and international sources by leveraging the various products and features offered by the capital market platform provided by DSE.
Faruque Hassan, President of BGMEA, and M. Shaifur Rahman Mazumdar, Managing Director (Acting), DSE signed the MoU on behalf of their respective organizations at BGMEA Complex in Uttara, Dhaka on September 14.
BGMEA Vice President Shahidullah Azim, Director Mijanur Rahman, Chair of BGMEA Standing Committee on Press, Publication and Publicity Shovon Islam, Chair of BGMEA Standing Committee on Trade Fair Mohammed Kamal Uddin, Chair of BGMEA Standing Committee on UD-Woven & Knit Md. Nurul Islam were present at the MoU signing ceremony.
Professor Dr. Hafiz Md. Hasan Babu, Chairman, DSE; Md. Shakil Rizvi, Director, DSE; and Sharif Anwar Hossain, Director, DSE were also present.
DSE and BGMEA have agreed to jointly organize training sessions, seminars, and workshops with a particular focus on entrepreneurship for RMG companies.
These programs will address key areas such as corporate governance, capital restructuring, and fundraising, said the BGMEA.
Australian High Commissioner, BGMEA President discusses trade opportunities
Australian High Commissioner to Bangladesh Jeremy Bruerhas on Thursday met President of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Faruque Hassan and discussed areas of opportunities on trade front.
BGMEA Vice President Shahidullah Azim, Directors Abdullah Hil Rakib, Barrister Vidiya Amrit Khan, Neela Hosna Ara, Chair of BGMEA Standing Committee on Press, Publication and Publicity Shovon Islam, Chair of BGMEA Standing Committee on RSC Nafis-Ud-Doula, and Chair of BGMEA Standing Committee on Trade Fair Mohammed Kamal Uddin attended the meeting.
Mahbub ur Rahman, CEO of HSBC Bangladesh; Joshua Gacutan, Second Secretary (Economic); and Nitol Dewan, Trade and Economic Development Manager at the Australian High Commission, were also present at the meeting held at BGMEA Complex in Uttara, Dhaka.
Also read: BGMEA urges Kontoor Brands to step up garment sourcing from Bangladesh
The meeting was marked by fruitful discussions on mutual interests and potential collaborations in grasping trade opportunities between Bangladesh and Australia.
Both sides had discussions regarding a range of topics, including avenues for enhancing bilateral trade between the two nations.
They also delved into the means of strengthening partnership and expanding trade and investment in areas of high potential.
One of the key points discussed in the meeting was the continuation of Australia's duty-free market access to Bangladesh in the post-LDC period, for which BGMEA President Faruque Hassan expressed his gratitude.
Bangladesh's keen interest in the Australian market, particularly in exporting high-end fashion items, and the potential to increase its imports of cotton and wool from Australia for its readymade garment sector were also highlighted in their discussion.
Faruque Hassan extended his appreciation to Australia for its ongoing support in Bangladesh's journey towards development, said the BGMEA.
Also read: South Korean Ambassador, BGMEA President discuss ways to boost trade, investment
He highlighted the significance of Australia as a promising market for Bangladesh's apparel exports.
He also underscored the importance of fostering industry connections between Australian suppliers of raw materials, such as cotton and wool, and Bangladesh's RMG sector.
Faruque Hassan thanked the Austrian High Commissioner for extending his cooperation in organizing the first-ever Bangladesh Apparel Summit in Melbourne on July 18 this year.
The summit played an important role in bringing closer a wide range of stakeholders of the RMG industry including buyers, retailers, suppliers, consumers, development partners and others, creating a good opportunity for fruitful discussions.
Also read: Concerted efforts needed for transition to circularity: BGMEA President
Govt fixes prices of potatoes, onions, sugar, soybean and eggs
The Ministry of Commerce on Thursday fixed the price of egg at Tk 12 per piece at the retail level.
The ministry also set prices of onions at Tk 64-65 per kg, potatoes at Tk 35-36 per kg, bottled soybean oil at Tk 169 per liter, open (loose) soybean at Tk 149 per liter, and palm oil at Tk 124 per liter.
The sugar (open) price was fixed at 120 per kg, while the packaged sugar was at Tk 135 per kg.
Read: Timely action keeping prices and supply 'stable': Commerce Minister
The ministry has determined the prices based on the recommendations of the Agriculture Ministry and the Fisheries and Livestock Ministry.
Earlier, the Commerce Ministry sought a recommendations from the ministries based on the production and marketing costs of these goods.
Read: Onion prices cross Tk 100 per kg in Dhaka after India imposes extra duty
The government has decided to operate drives across the country and enhance monitoring to ensure the selling of these goods at the prices fixed by it, the commerce secretary told UNB.
Read more: Onion prices soar in Khulna market after India slaps duty on export
BGMEA urges Kontoor Brands to step up garment sourcing from Bangladesh
President of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Faruque Hassan
has called upon leading clothing company Kontoor Brands to increase sourcing of garments from Bangladesh, especially high-value and non-cotton items.
Citing the vast progress in workplace safety, environmental sustainability, and workers’ wellbeing, he said the industry’s strides had strengthen the position of Bangladesh as a preferred destination for garment sourcing.
We need to go beyond cotton, traditional items: BGMEA chief
He made the call during a meeting with senior management representatives from Kontoor Brands, a prominent global apparel company having long-term business with Bangladeshi suppliers. Two iconic denim labels -- Lee and Wrangler -- are owned by Kontoor Brands.
Key executives from Kontoor Brands, including Ezio Garciamendez, Vice President, Chief Supply Chain Officer; Wesley Gibson, Vice President, Managing Director Sourcing; Heena Agrawal, Vice President Finance; and Gihan Palihena, Director Asia Product Supply – South Asia were present at the meeting held in Dhaka on September 13.
They discussed issues of mutual interests, especially the prospects of strengthening the relationship between Kontoor Brands and the Bangladeshi garment industry.
Concerted efforts needed for transition to circularity: BGMEA President
During the meeting, Faruque Hassan presented an overview of the numerous initiatives undertaken by the Bangladesh’s garment industry to enhance its manufacturing capabilities, particularly in the production of high-end products, including manmade fiber and technical textile-based garments.
He highlighted the industry's continuous efforts to promote sustainable fashion practices and encourage the adoption of a circular economy model.
One of the key points raised by BGMEA President Faruque Hassan was the importance of ethical pricing to foster sustainability within the RMG sector while ensuring the well-being of the workers.
The RMG industry of Bangladesh has made significant strides in ensuring the workplace safety, and sustainable manufacturing, said Faruque Hassan.
BGMEA-Circle Economy ink MoU to accelerate garment, textile sector’s transition towards circular economy
"We invite international buyers, such as Kontoor Brands, to collaborate with us in this journey towards a more sustainable and responsible fashion industry."
We need to go beyond cotton, traditional items: BGMEA chief
BGMEA President Faruque Hassan has underscored the need for diversification of products alongside technology upgradation, embracing sustainable manufacturing practices, innovation, and skill development to retain Bangladesh’s competitive edge in the global apparel market.
“When we talk about enhancing our industry capability, we need to go beyond the cotton and traditional items, we need to increase our capacity in product development and innovation, enhance our efficiency and professional skills,” he said.
He made the remarks while addressing as the guest of honor the inauguration ceremony of Textech series of exhibitions organized by CEMS Global USA in association with CEMS Bangladesh in Dhaka on September 13.
BGMEA urges Kontoor Brands to step up garment sourcing from Bangladesh
Textiles and Jute Minister Golam Dastagir Gazi (Birpatik) MP attended the ceremony as the chief guest.
Vice Chairman of the Export Promotion Bureau (EPB) A. H. M. Ahsan also spoke at the event as special guest while President and Group Managing Director of CEMS Global USA and Asia Pacific Meherun N. Islam chaired the ceremony.
Concerted efforts needed for transition to circularity: BGMEA President
Faruque Hassan said, “In this era of fast fashion, brands are continuously striving to make the production process faster and simpler. So in the coming days, the manufacturing landscape will be influenced by the 3Cs - Cost, Competitiveness, and Closeness.”
“4th Industrial Revolution will be the key to achieving manufacturing and supply chain excellence. At the same time, fashion consumption will continue to evolve driven by technology and innovation,” he added.
BGMEA-Circle Economy ink MoU to accelerate garment, textile sector’s transition towards circular economy
Salman F Rahman welcomes investment from Commonwealth economies
Salman F Rahman, private industry and investment advisor to Prime Minister Sheikh Hasina, said on Wednesday that Bangladesh is ready to facilitate special policy support for Commonwealth economies to fetch more foreign direct investment (FDI).
“As Bangladesh is a well-positioned country among the Global South economies, and the Bay of Bengal is emerging as a critical region in the competition for control of sea lanes and global trade, economies under the umbrella of Commonwealth can leverage the opportunities for trade or setting up manufacturing units,” he told an international trade conference in Dhaka.
If Bangladesh falls into ‘middle-income trap,’ it won’t achieve goal of becoming a developed nation by 2041: Salman F Rahman
Prime Minister Sheikh Hasina inaugurated the Commonwealth Trade and Investment Forum as the chief guest in Dhaka. Bangladesh is hosting the conference for the first time in association with the Commonwealth Enterprise and Investment Council (CWEIC).
The Bangladesh Investment Development Authority (BIDA), the Ministry of Foreign Affairs and the Zi Foundation are the partners of the conference.
Over 300 international delegates, including 13 ministers from the Commonwealth countries, are participating in the two-day conference.
In his speech, Salman mentioned that Bangladesh's strategic location and its Bay of Bengal have brought significant responsibilities as a facilitator and connector between regions and competing powers.
Bank loan interest will go up in future: Salman F Rahman
“Bangladesh economy is expected to reach over $485 billion by the end of this year. A robust demographic dividend, strong apparel exports, resilient remittance inflows, and stable macroeconomic conditions have supported rapid economic growth over the past one decade,” he told the seminar on “Bangladesh Opportunity – Commonwealth Partnerships.”
An overview of Bangladesh and investment opportunities was presented focusing on the potentials of growth towards the 2041 strategic goal.
In the opening remark, CWEIC Chairman Lord Marland said that Bangladesh can take the opportunity to extend economic cooperation among the Commonwealth nations.
“Bangladesh has proven its excellence in apparel export in the world. Countries under the Commonwealth platform can follow the best practices in the sectors. We want to connect every dots of possibilities through the Commonwealth, home to 2.5 billion people and includes both advanced economies and developing countries,” Marland said.
No concern among US businessmen about upcoming elections: Salman F Rahman
Bangladesh Securities and Exchange Commission (BSEC) Chairman Prof Shibli Rubayat-Ul-Islam, FBCCI President Mahbubul Alam, Unilever Bangladesh President Zaved Akhtar and British International Investment managing director Srini Nagarajan were in the panel discussion. BBC Broadcaster Tanya Beckett moderated the session.
Commerce Minister Tipu Munshi was the chief guest at another panel discussion titled 'Global Economy: Breaking Down Barriers to Trade’ at the same venue.
Dominican Foreign Minister Dr Vince Henderson. Sri Lanka’s Minister of State for Investment Promotion Dilum S Amunugama, Cameroon’s Finance Minister Louis Paul Motazé were guests of honour on the occasion.
Another session titled ‘Mental Health in the Workplace: Creating a Positive Working Environment’ was also held.
British MP Paul Bristow and the head of strategic engagement of the Institute of Occupational Safety and Health, Alan Stevens, and councillor Wayne Fitzgerald took part in the session.
Commonwealth nations, often simply referred to as the Commonwealth, is an international association of 56 member states, the vast majority of which are former territories of the British empire.
Syed M Tanvir resigns as director of CCCI
Syed M Tanvir, managing director of Pacific Jeans, has resigned from the director’s post of the Chittagong Chamber of Commerce and Industry (CCCI) due to unavoidable circumstances.
He submitted the resignation letter to the CCCI president Omar Hazzaz on Tuesday.
Also read: Japan Desk in CCCI to help solve investment issues; promote Ctg: Japan
Tanvir said in the letter: “I am grateful to the CCCI members for re-electing me as a director for the current tenure of 2023-2025. However, due to present unavoidable circumstances, I feel that I will not be able to perform the responsibilities as director of the CCCI for this tenure with dignity.”
Also read: CCCI welcomes the proposed budget
Contacted by UNB, Tanvir confirmed that he has resigned, but he would not specify the reason behind his decision.
UNB learned that his resignation involves the presidential election of the CCCI.