Pharma exports up 15% in Jul-Aug

Pharmaceutical exports from Bangladesh grew nearly 15 percent year-on-year in the first two months of the current fiscal year as drug-makers secured international tenders, according to industry people. The manufacturers also said to have set a target to ship products by this month against the orders placed for the year in order to avoid disruptions stemming from any possible political unrest centring the upcoming general elections. Buyers have also started to place higher orders as economies gradually recover from the impacts of global economic crises brought on by the Russia-Ukraine war. Thus, medicine shipment fetched $31.64 million in July and August of 2023-24. Pharmaceutical exports from Bangladesh fell 7 percent year-on-year to $175.42 million in 2022-23 due to the impacts of global economic crises and subsequent US dollar shortage in most underdeveloped countries.

Source: https://www.thedailystar.net/business/economy/news/pharma-exports-15-jul-aug-3420546

Japanese Economic Zone gears up for production early next year

The Bangladesh Special Economic Zone, jointly developed by the governments of Bangladesh and Japan on 1,000 acres of land in Araihazar, Narayanganj, is accelerating its construction efforts to start production early next year. Officials said Singer Bangladesh Ltd, a multinational electronics and home appliance company, which has already started factory construction after leasing 33.4 acres of land in the economic zone, will start production within March 2024. So far, five companies have signed land lease agreements with the Bangladesh Economic Zones Authority to construct factories in the economic zone in Narayanganj. The companies are – Singer Bangladesh Ltd, 33.4 acres, Rudolf GmbH (Germany), 5 acres, Lion Corporation (Japan), 8.4 acres, Onoda (Japan), 5 acres, NICCA Chemical Co Ltd (Japan), 3.2 acres. Singer Bangladesh Ltd, a multinational electronics and home appliance firm, is poised to commence production at its $78 million green factory.

Source: https://www.tbsnews.net/economy/japanese-economic-zone-gears-production-early-next-year-701806

 Saif Ullah Kowchar new DMD of City Bank

City Bank has recently added another deputy managing director in its top management. A K M Saif Ullah Kowchar, who was head of internal control & compliance, has been promoted to the position of DMD by the bank’s board last week. He worked as a senior executive vice president of the same bank prior to this. Saif joined City Bank in 2019 and made significant contributions to establishing a robust Risk-Based Internal Audit (RBIA) culture in the bank. Saif has more than 22 years of multifunctional and multi-geographic experience, working for Citibank N.A. (Bangladesh and the Philippines), Pacific BD Telecom Ltd and KPMG (Bangladesh and Qatar) prior to joining City Bank.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/saif-ullah-kowchar-new-dmd-of-city-bank-1694880615