Steel and cement output fell down by one-third

SS Steel Limited plans to issue a Tk500 crore convertible bond to fund term loan repayments and factory modernization. The move aims to boost revenue by Tk2,000 crore annually through expanded production capacity. The company Secretary have stated the bond features would be unsecured, convertible, or redeemable with coupon payments, issued through private placement with a seven-year tenure. The decision follows

Berger Paints Bangladesh Limited appoints a new director, formerly the Chief Operating Officer since April 2023. With over 29 years of experience, he holds an MBA in Marketing from the University of Dhaka. His roles include Chief Sales & Marketing Officer, Senior General Manager-Sales & Marketing, and General Manager Sales & Marketing, fostering organizational development and market prominence through marketing strategy, product development, and consumer insights.

The steel sector in the country faced a significant 65% increase in operational costs over the past year. This surge was primarily driven by a 40% rise due to the appreciation of the US dollar, coupled with a 25% increase attributed to hikes in utility bills. This information was disclosed at a press conference organized by the Bangladesh Steel Manufacturers Association (BSMA), representing 41 large steel producers.

LafargeHolcim Bangladesh and Sylhet City Corporation inaugurated a material recovery facility costing Tk15.30 crore at Lalmatia Dumping Ground in Sylhet. This initiative marks the country's first municipal solid waste and plastic waste segregation plant, enabling automatic segregation of non-biodegradable plastic products.

The 'KSRM Award for Future Architects: Best Undergraduate Thesis' was presented to three promising young architects at the Institute of Architects Bangladesh (IAB) Center in Agargaon. This is the fifth time KSRM has bestowed this award, with the winners receiving cash prizes of Tk 1 lakh, Tk 75,000, and Tk 50,000 respectively.

During a pre-budget discussion, the Bangladesh Ceramic Manufacturers and Exporters Association proposed removing the existing 15% supplementary duty on local tile production and 10% supplementary duty on local sanitary product production. They suggested introducing a 1% flat import tax rate on raw industrial materials. The BCMEA emphasized the need to exclude waste materials from customs duty calculations, claiming that China clay and ball clay contain about 30 to 35% waste.