Exporters to get Tk 108.5 for each dollar from today

Banks yesterday hiked the buying and selling rates of US dollar as part of efforts to gradually reach a uniform exchange rate for the greenback by September this year. As such, bankers at a meeting decided to purchase dollars from exporters by paying Tk 108.5 for each US dollar from August 1, up nearly by 1 percent or Tk 1 from Tk 107.5 set in June. Migrant workers and non-resident Bangladeshis living abroad will get Tk 109 for a dollar. Until July 31, banks were officially offering Tk 108.5 for each US dollar, two bankers after a joint meeting between the Bangladesh Foreign Exchange Dealers’ Association (Bafeda) and Association of Bankers, Bangladesh (ABB) told The Daily Star. Importers will require to count Tk 109.5 for every dollar, according to the decision.

Source: https://www.thedailystar.net/business/economy/news/exporters-get-tk-1085-each-dollar-today-3383196

Marico begins production at Mirsarai unit

Marico Bangladesh has begun commercial production from its new manufacturing unit at Mirsarai Special Economic Zone to seize a greater share of the rapidly expanding market for fast-moving consumer goods. Although the India-based multinational company initiated production at its new manufacturing unit on July 4 this year, it disclosed the development on Monday through a Dhaka bourse disclosure. In October 2020, Marico Bangladesh decided to construct its third manufacturing unit at Mirsarai Special Economic Zone under the Bangladesh Economic Zones Authority (BEZA) to enhance its “Made in Bangladesh” production. In line with this decision, the company established its third manufacturing unit on a 10-acre land at Mirsarai EPZ by investing Tk 2.27 billion in phases, to expand its production capacity for existing product line-ups. Marico is ranked among the top three fast-moving consumer goods multinational firms in the beauty and wellness sector in Bangladesh. It is the first subsidiary of Indian Marico Ltd, which embarked on its journey 24 years ago with its flagship brand, Parachute Coconut Oil. Over time, Marico has diversified its offerings to encompass 42 brands in 10 categories, including hair care, skincare, baby care, hygiene and food products.

Source: https://today.thefinancialexpress.com.bd/trade-market/marico-begins-production-at-mirsarai-unit-1690825125

bKash gets ‘Fintech Award’

bKash, the country’s largest mobile financial services (MFS) provider, won the ‘Fintech Pioneer Award’ for playing pioneering role in the country’s fintech sector, says a press release. Prime Minister Sheikh Hasina handed over the award to Kamal Quadir, founder and CEO of bKash, at the inaugural ceremony of Bangladesh Startup Summit-2023 held on Saturday. bKash started its journey 12 years ago as one of the facilitators of the government’s ‘Digital Bangladesh’ vision.

Source: https://today.thefinancialexpress.com.bd/trade-market/bkash-gets-fintech-award-1690825048