Walton Profits Drop by 70%

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.

TRANSFORM, an impact accelerator led by Unilever, the UK Government, and EY, announced grants of up to BDT 10 million each for two Bangladeshi SMEs focused on climate resilience.

A proposed hike in gas prices by Petrobangla has sparked major concerns among industrialists in Bangladesh, fearing economic harm. Industrial leaders argue that the increase, if approved, could lead to factory closures, job losses, and reduced industrial output, harming economic growth and potentially causing social unrest.

In FY 2023-24, the Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) faced operating losses due to reduced trading, fewer IPOs, and increased costs. The DSE's core revenue of Tk 125 crore fell short of expenses, causing a Tk 20 crore loss, while the CSE incurred a Tk 10 crore loss with Tk 31 crore in core revenue.

SK Trims & Industries, a garment accessory manufacturer, experienced significant financial challenges in the first quarter of the 2024-25 financial year. The company reported a net loss of Tk 4.46 crore in the July-September quarter, contrasting with a Tk 4.29 crore profit from the same period last year.