Ispahani Foods wins National Productivity Award

The National Board of Revenue (NBR) has removed all import duties on onions, effective immediately from November 6, 2024, to reduce import costs and stabilize prices, which have reached up to Tk 150 per kilogram in Dhaka. This zero-duty policy will be in effect until January 15, 2025. Previously, the NBR had retained a 5 percent import tariff after cutting a regulatory duty in September.

Carew & Company, a state-owned distillery, posted a record profit of over Tk85 crore in FY 2023-24, mainly driven by its liquor business. The profit grew by 32%, despite a slight decline in revenue. Increased demand for locally produced liquor, due to tighter import controls, boosted sales.

Southeast Bank PLC, in collaboration with Mastercard and Zantrik Limited, has launched a prepaid card for car owners in Bangladesh. The card offers benefits such as spending limits for fuel, discounts on vehicle maintenance through Zantrik, and exclusive deals at Mastercard partner outlets. Cardholders can enjoy 20% off roadside assistance, 15% off car insurance, up to Tk 3,000 off repair work, and discounts on LPG conversion. This partnership aims to make car ownership more cost-effective and convenient for users.

Prime Bank and Chaldal.com have partnered to offer exclusive discounts to Prime Bank credit and debit cardholders on purchases made through Chaldal's mobile app and website. The agreement was signed by Md. Nazeem A. Choudhury, Deputy Managing Director of Prime Bank, and Waseem Alim, CEO of Chaldal.

Local sugar refiners have urged the government to reduce the LC (Letter of Credit) margin to 10% for sugar imports, ensuring uninterrupted supply during the upcoming Ramadan. The Bangladesh Sugar Refiners Association (BSRA), representing five sugar producers that meet 98% of the local demand, has submitted a proposal to the government.

AO Smith Corporation, a global water technology company, has acquired Unilever's Pureit business for approximately $120 million. Pureit, which offers a range of residential water purification solutions, is a major player in South Asia, including markets like Bangladesh, India, Sri Lanka, Vietnam, and Mexico. Headquartered in Wisconsin, USA, AO Smith finalized the acquisition nearly four months after signing the agreement.