Akij Groups Thriving Jute Industry Investments

Biman Bangladesh Airlines responds to rising demand by expanding flight services on key Middle East routes. Effective 28 December, BG235 introduces direct flights between Sylhet and Jeddah every Thursday, enhancing travel options to Saudi Arabia. Beginning 21 February 2024, BG236 offers direct Jeddah-Sylhet flights every Wednesday to cater to expatriates and pilgrims.

The United Nations Industrial Development Organization (UNIDO) endorsed Bangladesh's resolution on enhancing member states' capabilities in building resilient and sustainable supply chains during its 20th General Conference in Vienna. With participation from leaders of 172 member states, the week-long conference addressed the disruptions caused by the COVID-19 pandemic and the Ukraine war to global supply chains.

FAS Finance & Investment faces a grim fate, with continuous losses over nearly five years, leaving the first-generation financial institution on the brink of collapse. The latest financial results for the nine months through September reveal a loss of Tk 2.03 billion, accumulating to nearly Tk 16 billion in losses until September 2023.

Eight state-owned jute mills under the Bangladesh Jute Mills Corporation (BJMC) have been successfully leased to domestic companies, with another eight jute mills currently undergoing the leasing process. The lease agreements span 5 to 20 years, allowing companies to utilize existing machinery, land, and facilities solely for jute and jute product production.

A major export fraud involving Loopdot Fashion Limited in Mymensingh, Bangladesh, has been exposed, with 225 consignments of garments falsely exported, totaling $6.8 million or 75 million taka. The fraud was revealed during the seizure of two consignments

Intraco Refueling Station is set to transport stranded gas from Bhola Island to industrial boilers near the capital, providing a breakthrough in gas supply amid shortages. The company plans to supply compressed natural gas (CNG) to the Gazipur and Bhaluka industrial belts initially, alleviating the low piped-gas pressure in these areas.