The FBCCI Innovation and Research Center officially started its journey on Sunday in Dhaka. Prime Minister's Private Industry and Investment Adviser Salman F Rahman inaugurated the FBCCI Innovation and Research Center as the chief guest. This Initiative of FBCCI, the Apex trade body of the country, is aimed at addressing the challenges of the fourth industrial revolution and fostering growth in the private sector through research and policy support. FBCCI president Mahbubul Alam, former president Md. Jashim Uddin, former senior vice-president Mostofa Azad Chowdhury Babu, and members of the Governing Body of FBCCI Innovation and Research Center were present at the inaugural program. After the inauguration, the second meeting of the Governing Body of FBCCI Innovation and Research Center was held. Chairman of this center and former president of FBCCI Md. Jashim Uddin presided over the meeting.3 Md. Jashim Uddin said that the FBCCI Innovation and Research Center will accelerate the ongoing progress of the country. He highlighted its mission to nurture skilled manpower and entrepreneurs across various sectors, including Agri-Business, Light Engineering, and Circular Economy. Salman F Rahman emphasized using this center as a training institute and advised bringing top trainers from other countries such as India, Malaysia, Thailand, USA, etc. He also talked about “ToT” and shared his valuable ideas on building innovation, research, and training floors. Among Others, FBCCI Vice President and Member of the Governing body of the FBCCI Innovation and Research Center Shomi Kaiser, Abul Kashem Khan, Mohammad Ali Khokon, Shamim Ahmed, Nadia Binte Amin, and CEO of the center Bikarno Kumar Ghosh were present at the Meeting.
Price of Liquefied Petroleum Gas (LPG) has increased further to Tk 113.61 per kg for the month of October from Tk 107.01 in September. Now the retail customers will have to pay an additional Tk 6.6 for per kg LPG. The new prices will be effective from 6pm on Monday. Bangladesh Energy Regulatory Commission (BERC) announced the new price, saying that the retail consumers will now get a 12kg LPG cylinder at Tk 1363 including VAT instead of the previous price of Tk Tk1,284. It means that the customers of 12kg LPG will have to spend additional Tk 79 for cooking purposes. Read: 12 kg LPG price goes up by Tk 144 in September Prices of other sizes of LPG cylinders – from 5.5kg to 45kg – will go up rationally, Md Nurul Amin, the chairman of BERC, said at a press briefing on Monday at the BERC office in Dhaka. As per the BERC decision, the price of “auto gas” (LPG used for motor vehicles) also increased to Tk 62.54 per litre (including VAT) from Tk 58.87 per litre. The increase is Tk 3.67 per litre. The price of LPG, marketed by state-owned LP Gas Company, will remain the same as it is locally produced with a market share of less than 5%. Read: 12 kg LPG price goes up by Tk 141 in August BERC officials said the LPG price will witness an increase in the local market due to the increase in the prices of Saudi CP (contract price). Bangladeshi LPG operators normally import their products from the Middle-East market on the basis of Saudi CP. LPG witnessed the highest price at Tk1,498 (per 12kg cylinder) in the local market in February this year following the start of the Russia-Ukraine war in February last year. Read more: LPG price slashed again, 12kg cylinder to cost Tk 999
Trade between Bangladesh and India through Benapole-Petrapole land port remained suspended since Monday morning due to celebration of the birth anniversary of Indian Father of the Nation Mahatma Gandhi. As a result, thousands of goods-laden trucks remained stranded on both sides of the port. Most of the vehicles were carrying the raw materials of Bangladesh's garment industry. Karthik Chandra Chakraborty, general secretary of Indian Petrapole C&F Agent Staff Welfare Association, said that due to the public holiday on the occasion of the 154th birth anniversary of Mahatma Gandhi, the promoter of India's non-violent movement and pacifist leader, the import-export trade between Bangladesh and India remained shut today. But the movement of passengers between the two countries and other activities of the port remained uninterrupted, he added. The export-import activities will resume on Tuesday morning, he said.
The interest rate on loans from banks in October has been set at 10.20 percent as per Bangladesh Bank’s formula. The method, based on which the interest rate is now being determined, is known as “SMART” or “Six Months Moving Average Rate of Treasury Bills.” Bangladesh Bank informs of this rate at the beginning of every month. The new interest rate determining method was introduced on July 1, 2023. Earlier, from April 2020, the maximum interest rate on bank loans was 9 percent. With D grade Bangladesh Bank governor fares poorly in global ranking Accordingly, in the current month of October, banks can take a maximum of 10.20 percent interest on large-scale industrial loans. On the other hand, non-banking financial institutions (NBFIs) can charge interest against loans by adding a margin at a maximum rate of 5 percent. Their maximum interest rate will be 12.20 percent and 9.20 percent on deposits. However, the loan interest rate set in October cannot be changed within the next six months. This will make the highest interest rate on agricultural loans in September 9.14 percent. An additional 1 percent supervision charge can be levied on CMSME, personal, and car purchase loans. Bangladesh Bank introduces dollar booking policy for max 1 year Bangladesh Bank publishes the 6-month average interest rate of 182-day treasury bills from January this year. Last January, the smart rate was 6.96 percent. After that, it gradually increased every month and reached 7.13 percent last May. But in June and July, it decreased slightly to 7.10 percent. However, it increased to 7.14 percent in August and reached 7.20 percent in September. On the advice of the International Monetary Fund (IMF), Bangladesh Bank introduced a market-based interest rate system. Despite Bangladesh Bank Governor’s decision to not raise exchange rate before election, dollar rate hiked again The interest rate cap of 9 percent was imposed from April 2020 to facilitate traders. A research report by the central bank also recommends withdrawing or increasing the interest rate limit. But Bangladesh Bank was silent as the government did not give positive consent. One of the conditions of IMF’s USD $4.7 billion loan is to make the interest rate market-based. In light of that condition, the new interest rate system was introduced.
Bangladesh Jewelers Association (BAJUS) on Saturday (September 30, 2023) announced it was reducing the price of gold again after an interval of just two days from the last price change. Earlier, Bajus had last set gold prices on September 27, which was effective from last Thursday. The new rate will be effective from tomorrow (Sunday, October 1). The price of good quality 22-carat gold has been reduced by Tk 1,750 to Tk98,211 per bhori (11.664 grams). Until Saturday 22 carat gold was Tk99960 per bhori. Read more: Gold price marks an all-time high to Tk 1,01,244 per bhori MA Hannan Azad, chairman of the Bajus Price Determination and Price Monitoring Standing Committee said this by a notification on Saturday (September 30). According to the notification, the price of acidic gold has decreased in the local market. Considering the overall situation, Bajus has fixed the new price of gold. The price of 21-carat solid gold is Tk93779 per bhori, 18-carat is Tk80365 per bhori and traditional gold price is Tk 66951. Read more: Gold Buyer's Guide: Know the types, colors, karats of the precious metal As of today, the price of 21-carat solid gold is Tk95412 per bhori, 18-carat gold is Tk81765 and traditional gold is sold at Tk68118. The price of gold has increased but the price of silver has been kept unchanged. According to the category, currently, a bhori of 22-carat silver price is Tk1715, 21-carat price is Tk1633, 18-carat price is Tk1400, and traditional method silver price is Tk1050. Read more: Gold vs Diamond: Which Should You Choose for Investment?
Bangladesh national cricket team all-rounder Mehedi Hasan Miraz has been re-appointed as the “Brand Ambassador” of Walton for the third consecutive time. The local electronics giant renewed the contact with the young cricketer for the next two years. Earlier in 2015, Miraz became Walton's 'Youth Ambassador' for two years while he was the captain of the Bangladesh U-19 cricket team. Read: Walton brings new models of single door all-rounder fridge Recently, an agreement between Miraz and Walton was signed in this regard at Walton Corporate Office in the capital, said a media release. Walton Hi-Tech Industries PLC.'s Deputy Managing Director Nazrul Islam Sarker inked the deal with Miraz. Among others, Walton Hi-Tech's Senior Executive Directors SM Zahid Hasan, Md. Shahjalal Hossain Limon, Md. Mahmudul Islam and Didarul Alam Khan (Chief Marketing Officer), Senior Deputy Executive Director Rabiul Islam Milton and Power Play Communication's Managing Director Niamur Rahman Palash, were present at the agreement signing ceremony. Read: Walton Plaza fulfills Jonayed's dream of flying in the sky Welcoming cricketer Miraz, Nazrul Islam Sarker said, “Walton has always been sponsoring cricket and other sports of the country. The National Cricket Team is branding Bangladesh around the world. Similarly, Walton is also branding Bangladesh in the global tech product sector. Miraz is a very talented and one of the top all-rounders of Bangladesh cricket team. We are delighted to have a talented all-rounder like him as Walton's brand ambassador for the third time.” Cricketer Mehedi Hasan Miraz said, "Walton has always been ahead in sponsoring cricket. They are not only sponsoring all kinds of games, but also patronising the players. Walton made me a youth ambassador when I was little known playing in the Under-19 team. After that, Walton appointed me as brand ambassador for the third consecutive time. It is a great honour for me. I am proud to be a member of the Walton family. I will try my best to represent Walton positively at home and abroad, and brighten the brand image of the company.” Read: Walton starts export trades with India in Rupee
Robi has organised a special screening of Shahrukh Khan starrer latest Bollywood blockbuster movie- 'Jawan', as a gesture of gratitude to the premium customers of its loyalty program- ‘Robi Elite’. Robi’s Diamond and Platinum category Elite customers enjoyed three special screenings of the movie in Dhaka at the Star Cineplex movie theatre in Bashundhara City and Mirpur, said a press release. Read: 'Jawan' director Atlee says got calls from Hollywood because of this scene In addition, two shows were organized in Chattogram as well as a special show in Rajshahi. The much-anticipated movie- 'Jawan' was released in Hindi, Tamil, and Telugu languages worldwide on September 7. As the first film to have been released in Bangladesh and India on the same day, Jawan created a frenzy among Shahrukh Khan fans. Directed by Atlee Kumar, from Southern India, Jawaan has Nayan Tara, a famous actress from the South, playing the role of lead actress in the movie. Southern superstar Vijay Sethupathi, Bollywood veteran, Sanjay Dutt and Deepika Padukone appear in the movie as guest characters. Read: Shah Rukh Khan starrer ‘Jawan’ makes historic debut in Bangladesh Robi’s Head of Brands and Market Communication, Shamim uz Zaman said, "The aim of this special screening is to strengthen Robi’s relationship with our valued customers and raise awareness about our loyalty program. Robi has plans to host such special screenings and other exclusive events in future." Robi always strives to do something special for its elite customers. It has established itself as a company that is committed to providing new experiences in the customers’ lives.
Bangladesh Financial Intelligence Unit (BFIU) has suspended 21,725 accounts belonging to different Mobile Financial Services (MFS) for their alleged involvement in online gambling and hundi. Deputy Chief Officer AFM Shahinul Islam of BFIU briefed reporters about the decision on Wednesday. Most of these accounts are from Bkash, Nagad, and Rocket and MFS operators have also been warned not to engage in such transactions future, he said. MFS transaction decreased by Tk34 thousand crore in July: BB BFIU collected information from 371 online gaming and betting transactions, 91 transactions related to online forex trading and 413 transactions related to cryptocurrency in nine months of this year. These data are being analyzed and sent to the law enforcement agencies. Besides, BFIU has sent a list of 814 websites, 159 apps, and 442 social media pages and links related to illegal hundi, gaming and betting to law enforcement agencies for action and investigation. The BFIU has sent details of 21 money changers and their 39 bank accounts to the Criminal Investigation Department of the police. MFS transactions record breached again in April; number of accounts now 26.5 crore BFIU presented these facts in a meeting with anti-money laundering compliance officers of commercial banks held at Bangladesh Bank headquarters in Motijheel on Tuesday. The head of BFIU Masud Biswas presided over the meeting, Deputy Chief Officer AFM Shahinul Islam, the Director of BFIU, chief of anti-money laundering enforcement officers of all commercial banks were present. Head of BFIU,Masud Biswas said that criminals and money launderers should be aware that they cannot use the banking system to commit any crime. Daily transaction of MFS crosses Tk3200 crore: BB
Nagad, a mobile financial service provider in Bangladesh, has brought in an offer for its customers to take their cricket experiences to the next level in the upcoming ICC Cricket World Cup 2023. Customers will be able to grab World Cup match tickets by making an add-money of Tk 3,450 to their Nagad wallets from Mastercard or by settling their credit card bill of the same amount using this MFS platform, said a media release. The highest transacting customer will get an opportunity to participate in the “Flag Bearer Program” every week during this campaign. If the customer’s kid is between 12 and 18 years old, he or she will have the honor of holding the team’s flag during the national anthem. Besides, the winner will enjoy the game in ultimate comfort from the “Mastercard Sofa”. Read: Nagad wins Visa Excellence award-2023 The highest Mastercard credit card bill payer during the campaign period will have a chance to take a picture with the coveted World Cup trophy right on the ground. On the other hand, the person making the highest add-money transactions during the campaign will take a selfie with the Player of the Match. Md Shihab Uddin Chowdhury, chief marketing officer of Nagad Ltd., said, “Nagad and Mastercard have come up with an exciting offer for customers ahead of the ICC Cricket World Cup-2023. Avid cricket fans will have opportunities to watch live matches of their favourite teams at the stadium through this campaign.” Read: PM Hasina visits Nagad’s technology partner Paytm's stall at G-20 Summit in India Beginning this campaign on September 22, it will continue till October 16. To participate in this campaign, a customer must have an active and full profile ‘Nagad’ account. Besides, they will have to comply with all the terms and conditions of the campaign. To learn more customers are requested to visit Nagad’s Facebook page or its website. Read more: Nagad partners with TerraPay for faster remittance inflows
Bangladesh Bank has introduced a US dollar booking policy for maximum 1 year, at a higher rate, to meet future requirements. According to the new rules, after one year, the bank will be able to charge a maximum of 5 percent more than the current dollar price with a 'SMART' rate. The central bank issued a circular in this regard on Sunday. Despite Bangladesh Bank Governor’s decision to not raise exchange rate before election, dollar rate hiked again Under the new rules, dollars can be kept with bookings for up to one year. For this, the buyer has to pay extra. It will be determined by the method with which loan interest rate is determined now. Currently, the dollar price for import is fixed at Tk 110.5. If anyone wants to book a dollar for future, he/she will have to pay Tk 123 per dollar after one year. Selling dollars at higher prices: What is Bangladesh Bank’s action against treasury heads of 10 banks?