Fortune Group Leases Daulatpur Jute Mill

On December 30, Bangladesh Bank extended emergency funds to National Bank, Islami Bank Bangladesh, and AB Bank to address liquidity shortages and support their year-end balance sheets.

Organic Nutrition Limited (ONL), a Bangladeshi company, has entered the U.S. market with its functional food products after receiving approval from the United States Food and Drug Administration (USFDA). These products are now available in U.S. supermarkets and on Amazon USA.

State-owned Janata Bank has initiated auctions of mortgaged land from S Alam Refined Sugar Industries and S Alam Super Edible Oil to recover non-performing loans totaling Tk1,777 crore and Tk1,008 crore, respectively. The auctioned assets include 2,971 and 1,860 decimals of land, with bids closing by 23 January.

The Anti-Corruption Commission (ACC) has filed a case against 29 individuals, including directors and officials of National Bank Limited (NBL), for allegedly embezzling Tk 4.59 billion through fraudulent paper bills.

The Bangladesh Telecommunication Regulatory Commission (BTRC) has approved key steps for auditing Teletalk, the state-owned mobile operator. This includes finalizing the terms of reference, scope of service, and request for proposal (RFP) to appoint an auditor for Teletalk's operational and financial systems. The audit aims to improve transparency and efficiency, as Teletalk owes approximately Tk 1,849 crore in unpaid fees to the BTRC. The audit process follows recommendations from a coordination committee and complies with the Public Procurement Rules of 2008.

MJLBD is set to bolster its operations with strategic investments in assets and infrastructure. The company has approved the purchase of a 12-year-old Aframax oil tanker, MT Nissos Delos, for $45.3 million, replacing the aging MT Omera Legacy. The vessel, with a capacity of 115,690 tonnes, enhances MJLBD’s transportation capabilities, as disclosed on the Dhaka Stock Exchange (DSE). Additionally, MJLBD plans to acquire a 209-decimal industrial plot in Shajahanpur, Bogura, valued at Tk 18.81 crore, through Agrani Bank's tender process, paving the way for future expansion.