Mayfair Stylewear Inks Deal with M2 Company

The Bangladeshi government has suspended its recent decision to sharply increase export fees on raw jute and jute products after significant backlash from industry players. The fee for raw jute exports was set to rise from Tk 2 to Tk 7 per bale, and for jute products from Tk 0.10 to Tk 0.50 per Tk 100—marking a substantial jump after 30 years.

Four state-owned enterprises (SoEs) in Bangladesh reported cumulative losses of Tk 28,238 crore over 28 years due to inefficiencies. The Bangladesh Jute Mills Corporation (BJMC) closed 25 mills in 2020, incurring Tk 9,497 crore in losses over 28 years, with profits reported only once.

Standard Chartered Bangladesh and Ispahani Islamia Eye Institute & Hospital (IIEI&H) have partnered to establish 71 Eye Health Camps for adults and 1,667 Student Sight Testing Programmes (SSTP) for school children, according to UNB. This initiative will benefit 10,000 adults in Dhaka and 250,000 students across Naogaon, Jamalpur, Barishal, Borguna, and Moulvibazar.

Midland Bank PLC has signed a Memorandum of Understanding (MoU) with "Easy to Europe" and "TripZik Limited" at the bank’s head office. Under this agreement, both organizations will utilize Midland Bank’s advanced online Cash Management solution, Midland Cash Management (MCM), to streamline their daily business banking and cash management activities across the country.

Trust Bank PLC has signed a strategic agreement with bKash Limited to offer payroll banking services for bKash employees. The agreement was signed by Mahboob Hossain, senior executive vice-president of Trust Bank, and Mohammed Ferdous Yusuf, chief human resources officer of bKash, at the bank’s head office in Dhaka, according to a press release.

Guardian Life Insurance Limited and Reliance Insurance Limited have formed a strategic partnership to provide comprehensive life and general insurance services in Bangladesh. CEOs Sheikh Rakibul Karim of Guardian Life and Md Khaled Mamun of Reliance Insurance recently signed a Memorandum of Understanding (MoU).