Plastic Industry Policy Targets Expanding Domestic Market

Axentec PLC has partnered with N Mohammad Group to strengthen its digital initiatives, according to a recent agreement. As a subsidiary of Robi Axiata Limited, Axentec will enhance cloud capabilities and accelerate N Mohammad Group's digital operations, particularly in the plastics industry.

Large-scale manufacturing industries in Bangladesh showed a modest pickup with a 6.4% growth in March, as reported by the Bangladesh Bureau of Statistics. The industrial production index rose to 217.45 in March, up from 204.18 a year earlier, but only increased by less than 1% compared to February 2024.

Wata Chemicals' stock price soared by over 44% in a month on the Dhaka Stock Exchange (DSE), despite the company experiencing declining profits and sales. The chemicals producer's net profit dropped 32% to Tk 15 million in the first nine months of FY24,

Linde Bangladesh has transferred its welding electrodes business, a major revenue segment, to the ESAB Group. Previously operated under its subsidiary, Linde Industries Pvt Limited, the transfer's financial details were undisclosed.

State-owned enterprises in Bangladesh have become significant loan defaulters. According to the Bangladesh Economic Survey 2024, eight state-owned banks now default on loans totaling Tk 184 crore. The defaulters include the Bangladesh Jute Mills Corporation (BJMC), Bangladesh Textile Mills Corporation (BTMC), Bangladesh Agricultural Development Corporation (BADC), Bangladesh Tea Board (BTB), Bangladesh Rasayan Shilpa Sangstha (BCIC), Bangladesh Food and Sugar Industries Corporation (BSFIC), Bangladesh Road Transport

Due to rising living costs, Tannery workers in Bangladesh demand an increase in their minimum monthly salary from Tk13,500 to Tk25,000. The demand was made during a Stakeholder Consultation Meeting on Minimum Wage for the Tannery Industry