Rising costs negatively impacting printing industry

Karnaphuli Paper Mill (KPM) in Kaptai, once a profitable venture, has faced losses since FY09 due to outdated machinery, mismanagement, and corruption. Production has dropped to 2,000-6,000 tonnes annually, with Tk45 crore in yearly losses. A Tk36,000 crore revival plan aims to restore operations and establish six new plants, including a chemical facility and a synthetic polyester fiber unit.

Bangladesh Bank (BB) has introduced guidelines to enhance transparency and accountability for Joint Ventures, Consortiums, or Associations (JV/CA) involving foreign partners operating in Bangladesh.

Dhaka Bank PLC signed a memorandum of understanding (MoU) with Dhaka South City Corporation (DSCC) on November 22 to streamline the collection of holding tax and trade licence fees. Under the agreement, the bank will integrate with DSCC servers via API connectivity, enabling residents to pay taxes and fees at designated branches, sub-branches, and five newly established collection booths at Nagar Bhaban and zonal offices during the first phase.

Moody's downgraded Bangladesh's sovereign rating from B1 to B2, shifting its outlook to negative, citing heightened political risks and potential economic slowdown. However, Bangladesh Bank (BB) criticized the downgrade, labeling it as retrospective and not reflective of current progress.

Following the fall of the previous government, over 343 influential individuals and organizations have had their bank accounts frozen, totaling Tk 14,500 crore, due to allegations of suspicious transactions and money laundering. The Bangladesh Financial Intelligence Unit (BFIU), in collaboration with the NBR and ACC, has already submitted 225 investigation reports, with 20 audits completed.

Prime Bank PLC has entered into a banking services agreement with Kashpia Group, enabling the latter’s employees to access preferential services such as credit cards and loan facilities. The agreement, signed at the bank's corporate office in Dhaka on November 20, also includes access to PrimePay, Prime Bank's digital portal for automated salary disbursement and round-the-clock corporate payment solutions.