Shipping on Chattogram -Dubai route begins

A ship carrying Bangladeshi exports has left Chattogram port for its final destination of Dubai’s Jebel Ali port, marking the debut journey on the route. The container ship HONG AN, the first under a service launched by the France-based shipping company CMA-CGM, left for its first transhipment port in Sri Lanka’s Colombo on 7 May. On its journey, the ship took 895 TEUs of export cargo. Of this, 751 TEUs are for Colombo port, 23 TEUs for India’s Mundra port and 121 TEUs for Jebel Ali port, according to Chittagong port terminal operator Saif Powertech. In addition to a more efficient and greener alternative to trucking, BIGEX will get Bangladesh shipments to India’s Nhava Sheva and Mundra ports in eight and 10 days respectively. The new service is set to diversify Chattogram’s connectivity to transhipment hubs beyond the key Asian ports to the Gulf and India’s West Coast ports.

Source: https://www.tbsnews.net/economy/shipping-ctg-dubai-route-begins-629066

South Korean company to set up jewelry industry in Uttara EPZ

South Korean company M/s Smile Arts Co, Ltd. is going to set up a Jewelry manufacturing industry in Uttara Export Processing Zone (Uttara EPZ). Bangladesh Export Processing Zones Authority (BEPZA) signed an agreement with the company to this effect at BEPZA Complex on Tuesday. BEPZA Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman, ndc, psc was present during the signing ceremony. The company will invest $2 million to produce annually 40 million units of Costume Jewelry, Sterling Silver Jewelry and Gemstone Jewelry where 300 Bangladeshi nationals will get employment opportunities.

Source: https://www.tbsnews.net/economy/corporates/south-korean-company-set-jewelry-industry-uttara-epz-628834

Travel tax might increase by 20-50%

The government has planned to increase travel tax, which will have a direct impact on the overall expenses individuals or businesses incur when planning and undertaking trips. The National Board of Revenue (NBR), as part of its multifaceted efforts to increase revenue, is moving to raise the tax by 20-50% in the upcoming budget for FY24, officials familiar with the matter told The Business Standard. Currently, the tax is Tk500-4,000 for each outbound traveller depending on their destination countries and mode of transportation.

Source: https://www.tbsnews.net/economy/travel-tax-might-increase-20-50-629222