SS Steel to invest Tk 20 crore to expand business

Chattogram-based steel producer SS Steel is going to invest Tk 20 crore to expand its business in the country. The listed company shared the news through a posting on the website of the Dhaka Stock Exchange today. Earlier in 2020, it planned to acquire Saleh Steel Industries with an investment of Tk 158 crore with the view to occupying a larger portion of the industry. In early January of 2021, the steel company public another disclosure to buy a 75 per cent stake in Southeast Union Ceramic Industries at a cost Tk 200 crore in an effort to expand its product base in the construction sector.

Source: https://www.thedailystar.net/business/news/bangladesh-finally-gets-nod-graduate-ldc-2902456

Bangladesh finally gets nod to graduate from LDC

The United Nations General Assembly (UNGA) has approved resolution to allow Bangladesh to graduate to the developing country grouping from least developed country (LDC) category 45 years after it was included in the category. When the UN included Bangladesh in the LDC group in 1975, the country’s poverty rate was 83 per cent. The rate of poverty declined over the years and it was 20.5 per cent in 2019-20 before the pandemic devastated jobs and income opportunities for many. Bangladesh is now scheduled to officially become a developing country in 2026 as the UN committee recommended that the country should get five years, instead of three, to prepare for the transition due to the impact of the Covid-19 on its economy. Bangladesh was well ahead in the gross national income (GNI) criterion: its per capita income was $1,827 in 2019 against the threshold of $1,222. In the HAI criterion, the country’s score stood at 75.4 points, well above the requirement of 66. In the EVI, a country’s score has to be less than 32. Bangladesh’s score was 27.3.

Source: https://www.thedailystar.net/business/news/bangladesh-finally-gets-nod-graduate-ldc-2902456

 SCB launches country’s first digital trade counter

Standard Chartered Bangladesh has launched the country’s first Digital Trade Counter. This is an online “drop-off” counter, where clients can submit trade transaction applications and related documents. This innovative, secure and self-reliant platform is low on documentation and high on data security. Through this solution, corporate clients can access a paperless, simpler, smarter application and management flow

Source: https://today.thefinancialexpress.com.bd/stock-corporate/scb-launches-countrys-first-digital-trade-counter-1637775672