Walton Partners with Sri Lankan Firm to Expand Market

Singer Bangladesh has begun commercial production at its new plant in the Bangladesh Special Economic Zone (BSEZ) in Araihazar, Narayanganj, following a $78 million investment from Arcelik. The facility, covering 35 acres, will locally manufacture over 90% of components, reducing import dependence.

The National Board of Revenue (NBR) has doubled the corporate income tax rate to 20 percent for manufacturers of freezers, refrigerators, motorcycles, air conditioners, and compressors, starting from the fiscal year 2025-26. According to a notification issued today, these revised tax rates will be in effect until June 30, 2032.

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).