Cement clinker imports rose by 5%

The rising remittance dollar rate has pushed the exchange rate for import LC settlements to Tk123.80-125, raising concerns about higher import costs and inflation. Banks are buying remittance dollars at Tk124.80-125.60, a sharp increase in recent days due to surging demand.

Bangladesh's imports rebounded for the third consecutive month in October, with overall imports rising 2.04% in the first four months of FY25, compared to a 20.64% decline in the same period last fiscal year.

BRAC Bank has partnered with Seven Rings Cement to provide a suite of advanced cash management solutions via its CORPnet platform. This digital tool integrates payments, collections, and reconciliation services, offering real-time transaction processing, virtual accounts for deposit tracking, and API-enabled statement data for enhanced accuracy.

Moynul Islam, vice-chairman of Monno Ceramic Industries, has been appointed as the acting president of the Bangladesh Ceramic Manufacturers and Exporters Association (BCMEA). The decision was made during the 51st BCMEA board meeting in Dhaka.

The stock market regulator has directed top officials of Confidence Cement to appear next Sunday due to the company’s failure to pay dividends on time. In September, the cement producer announced a 10% dividend for the 2023-24 fiscal year, and the annual general meeting (AGM) was held the following month.

The price of mild steel (MS) rods in Bangladesh has continued to decline, with 60-grade MS rods now priced at Tk 85,000 per tonne, down 12% year-on-year, according to the Trading Corporation of Bangladesh. This drop stems from reduced demand, as public construction projects have stalled since the political upheaval on August 5.