Team Group targets $1b export by 2026 Ships garments, medicines
Team Group, a leading garment exporter, has targeted to export goods worth $1 billion by 2026, when Bangladesh is scheduled to officially make the United Nations status graduation from a least developed to a developing country. To put this into perspective, Bangladesh earned $4.85 billion from merchandise exports in January with apparel shipments accounting for about 85 per cent of it. Among the ventures, the garment buying house’s exports last year stood at $270 million, said Abdullah Hil Rakib, managing director of Team Group, during a conversation at his factory. Exporting pharmaceuticals over the last couple of years on initially catering to local demand, the group sold medicine worth nearly
$15 million locally and $600,000 abroad last year. The group now employs 18,000 workers. He has also been regularly providing training to workers to meet the crisis of skilled workers so that they can handle the modern machineries.
Source: https://www.thedailystar.net/business/economy/news/team-group-targets-1b-export-2026-ships-garments- medicines-2956976
Tulip cultivation to boost regional economy, tourism
A remote village in Panchagarh’s Tentulia upazila is now abuzz with visitors from various parts of Bangladesh after eight farmers harvested high-value tulip flowers under a pilot scheme. The successful cultivation of the flower, considered a popular ornamental plant across the world, shows the prospect of boosting tourism and the regional economy. The farmers collectively contributed about 40 decimals of land in three separate spots, where around 40,000 bulbs were planted on January 1. The flowers started blooming after 21 days, said Aynul Haque, the project coordinator of the ESDO. The ESDO is helping growers supply their produce to various flower markets and plans to help them cultivate other flowers during the rest of the time of the year so that they can survive economically.
Source: https://www.thedailystar.net/news/bangladesh/agriculture/news/tulip-cultivation-boost-regional-economy- tourism-2956961
NCC Bank wins remittance award
NCC Bank has recently won a “Remittance Award-2022” from the Centre for NRB, a non-profit organisation for non- resident Bangladeshis, for its remittance services. Mohammad Mamdudur Rashid, managing director, received the award from AK Abdul Momen, minister for foreign affairs, at the inaugural ceremony of “World Conference Series-2022” titled “Branding Bangladesh” at Pan Pacific Sonargaon Dhaka.
Local and Global Stock Indices *
|Index Name||Close Value||Value Change||Percentage Change|
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|FTSE100||$ 7,573.47||↑ 57.07||↑ 0.76 %|
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World Commodities *
|Commodity||Close Value||Value Change||Percentage Change|
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|Crude Oil (Brent)||$ 92.55||↑ 0.14||↑ 0.15 %|
|Gold Spot||$ 1,822.37||↑ 1.90||↑ 0.10 %|
Major Currencies Exchange Rates Movement in Last Seven Days *
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|EUR 1||BDT 98.4786|
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