Modern Syntex coming to feed into major demand for synthetic yarns
Modern Syntex has stepped up with a big investment in manufacturing polyester and synthetic yarns to fit the bill for global consumers switching from cotton to manmade fabrics. The factory, being developed on 20 acres of land in Bangabandhu Shilpa Nagar, has so far made 90% progress in its work. It has invested $131 million to produce four types of products, such as polyester draw textured yarn (DTY), polyester fully drawn yarn (FDY), polyester staple fibre (PSF), polyethylene terephthalate (PET) chips, to provide backward support to readymade garment, footwear and vehicle-making industries. Currently, Bangladesh depends on imports of such raw materials from China, Indonesia, Korea and India etc. Company officials claimed that once the factory goes into operation in March-April 2023, it will have capacity to meet a major portion of local demand for synthetic and polyester fibres and yarns. According to Modern Syntex sources, the factory is being set up in Zone-6 of Bangabandhu Sheikh Mujib Industrial City with the technological help of German company Oerlikon. Paban Chowdhury, the then executive chairman of Bangladesh Economic Zones Authority (Beza), inaugurated the construction work of this project on 7 February 2020.
NCC Bank launches two new products
NCC Bank has launched two new services namely ‘NRB Home Loan’ and ‘Micro ATM’ on the occasion of its 29th anniversary, says a press release. Chairman of the bank Md Abul Bashar launched these products on Thursday at NCC Bank Bhaban in Dhaka. Chairman of the bank Md Abul Bashar said NCC Bank is committed to providing best services to satisfy all customers. The bank is incorporating various technology-based products and services for customer satisfaction and this trend will continue in the future as well.
Social Islami Bank Limited has opened 15 agent banking outlets
Social Islami Bank Limited has opened 15 agent banking outlets. Chairman of the bank Dr Md Mahbub Ul Alam along with Managing Director and CEO Zafar Alam and other high officials inaugurated the agent outlets through a virtual platform from its head office on Thursday.
Local and Global Stock Indices *
|Index Name||Close Value||Value Change||Percentage Change|
|↑ 8.77||↑ 0.03 %|
|FTSE100||$ 7,389.98||↑ 87.24||↑ 1.19 %|
|Nikkei 225||$ 26,739.03||↑ 336.19||↑ 1.27 %|
World Commodities *
|Commodity||Close Value||Value Change||Percentage Change|
|Crude Oil (WTI)||$ 110.28||↑ 0.39||↑ 0.35 %|
|Crude Oil (Brent)||$ 112.55||↑ 0.51||↑ 0.46 %|
|Gold Spot||$ 1,846.50||↑ 4.65||↑ 0.25 %|
Major Currencies Exchange Rates Movement in Last Seven Days *
|USD 1||BDT 87.5000|
|GBP 1||BDT 108.0100|
|EUR 1||BDT 91.6125|
*World Commodities & Local and Global Stock Indices data are taken from bloomberg.com<
* Exchange Rates are taken from BB website, as on latest update.<