Rangs and BSRM Investing in Agricultural Processing and Tourism

FAS Finance & Investment faces a grim fate, with continuous losses over nearly five years, leaving the first-generation financial institution on the brink of collapse. The latest financial results for the nine months through September reveal a loss of Tk 2.03 billion, accumulating to nearly Tk 16 billion in losses until September 2023.

A major export fraud involving Loopdot Fashion Limited in Mymensingh, Bangladesh, has been exposed, with 225 consignments of garments falsely exported, totaling $6.8 million or 75 million taka. The fraud was revealed during the seizure of two consignments

The prices of wheat in Bangladesh are on the rise, affecting consumers due to increased US dollar prices and international market trends. Over the past month, rice prices increased by 2% to 5.61%, while wheat prices per kilogram rose by 9.20% to 14.29%.

Intraco Refueling Station is set to transport stranded gas from Bhola Island to industrial boilers near the capital, providing a breakthrough in gas supply amid shortages. The company plans to supply compressed natural gas (CNG) to the Gazipur and Bhaluka industrial belts initially, alleviating the low piped-gas pressure in these areas.

The Dhaka Stock Exchange (DSE) experienced a significant downturn, with a turnover of Tk297 crore, marking a 20% decrease from the previous session. This drop is attributed to heightened political tensions ahead of the national election, dissuading investors from entering the market.

The Cabinet Committee on Government Purchase in Bangladesh has approved the import of 170,000 tonnes of fertilizers from the United Arab Emirates, Saudi Arabia, and Morocco. The Bangladesh Chemical Industries Corporation (BCIC) received approval to import 30,000 tonnes of bulk granular urea fertilizer from Fertiglobe Distribution Ltd.