India to invest $9.26m in Chattogram EPZ

Indian company Ms Sewtech Fashion Limited has signed an agreement with Bangladesh Export Processing Zones Authority (BEPZA) to establish a Readymade Garments manufacturing industry in Chattogram EPZ with an investment of US$ 9.26 million.

Member (Engineering) of BEPZA Mohammad Faruque Alam and Director of Sewtech Fashion Limited Balagi Pavadai signed the agreement today at BEPZA Complex in the city on behalf of their respective organizations, said a press release.

Sewtech Fashion Limited is a sister concern of India’s largest apparel manufacturer company Shahi Exports Pvt Ltd.

It may be mentioned that BEPZA is receiving many investment proposals from both local and foreign investors even amid the pandemic.

This fully foreign owned company will produce 3.36 million pieces of ladies, kids and men’s woven tops annually. They will create employment opportunities for 3,393 Bangladeshi nationals.

Among others, Member (Finance) Nafisa Banu, Secretary Md Zakir Hossain Chowdhury and General Manager (Investment Promotion) Md Tanvir Hossain of BEPZA were present at the signing ceremony.


Source: Bangladesh Sangbad Sangstha (BSS)

Customs houses to remain open during Eid holidays

The country’s customs houses and customs stations will remain open to facilitate export and import activities during Eid holidays.

The National Board of Revenue (NBR) has directed all customs houses and customs stations to remain open. However, even if not completely, these offices have been asked to be kept open to a limited extent.

Eid-ul-Azha will be celebrated across the country next Wednesday.

Eid holidays on Tuesday, Wednesday and Thursday. These three days import-export activities can be conducted.

In this regard, the country’s largest land port Benapole Customs House Commissioner Azizur Rahman told BSS, the NBR has asked the authorities concerned to take necessary steps to keep the offices open during the Eid holidays to give impetus to the country’s import-export activities and ensure a trade-friendly revenue environment.

In the light of this, he said, they have taken steps to keep the import-export activities active.

Most of the imports and exports are done through Chittagong port of the country. After those more import-export activities were done through Benapole Customs House. Apart from these two customs houses, Dhaka, Mongla, Kamalapur ICD and Pangaon customs will also remain open.


Source: Bangladesh Sangbad Sangstha (BSS)

Momen seeks favorable business environment in Kuwait for Bangladeshis

Foreign Minister Dr AK Abdul Momen has urged Kuwait to establish a forum of ‘South-South Finance Development’ for creating more favorable environment for Bangladesh businesspersons in the oil-rich country.

He made the request during a bilateral meeting with his Kuwaiti counterpart Sheikh Dr. Ahmed Nasser Al-Mohammed Al-Sabah on the sidelines of International Conference titled “Central and South Asia: Regional connectivity, Challenges and opportunities” in Tashkent on Friday, a foreign ministry press release said here today.

During the meeting, Dr Momen also urged Kuwait to recruit more Bangladeshi skilled workers while assured Bangladesh’s willingness to continue its peacekeeping troops there.

The Bangladesh foreign minister also proposed to assist Dhaka under Kuwait Development fund.

Dr. Momen expressed his gratitude to Kuwait government for supporting resolution on Human Right Commission to repatriate Rohingyas to Myanmar.

Both the ministers expressed their happiness at the level of existing bilateral cooperation between Bangladesh and Kuwait.

The Kuwait foreign minister proposed to overview relationships and to form a Joint Committee at Foreign Ministers level.

He also sought Bangladesh’s assistance and cooperation in strengthening health institutions, food security, education, IT and cyber security of both the brotherly countries.

The two leaders expressed their willingness to visit each other’s country when the corona pandemic situation improves.


Source: Bangladesh Sangbad Sangstha (BSS)

Nagad offers 10% cashback at super shop purchase before Eid

Nagad, the mobile financial arm of Bangladesh Post Office, has announced a 10 percent cashback on the purchase at the top seven super shops of the country in the run-up to the Eid-ul-Azha celebration.

Users of Nagad can enjoy the offer until the night before Eid at around 300 outlets of Shwapno, Unimart, Prince Bazar, Wholesale Club, Meena Bazar, Daily Shopping and Agora.

Customers will receive a 10 percent discount, or up to Tk 100, if they make payment through the Nagad app or mobile USSD at any of the outlets, said a press release.

Under the campaign, users can avail the offer once from each of the seven superstores.

The mobile financial service has launched the offer as part of its “Deshi Nagad e Beshi Lav” campaign to facilitate shopping at the superstores.

Nagad’s Managing Director Tanvir A Mishuk said, “From the beginning, the vision of Nagad has been to provide more facilities to the people in every sphere of their lives. The cashback offer ahead of Eid is the outcome of the vision. I hope our users will get a better glimpse of how using Nagad can give them the maximum benefit.”

If users have any complaints or comments about the offer, they can call Nagad at call center number 16167 or 0960961718.


Source: Bangladesh Sangbad Sangstha (BSS)

Electric car lithium demand powers mining revival in UK

As the global auto sector accelerates production of electric cars, one British company is hoping to cash in from mining lithium needed to make rechargeable batteries that power the vehicles.

It is five years since former investment banker Jeremy Wrathall launched Cornish Lithium, a company operating in Cornwall, southwest England, which recently hosted the G7 summit.

And while it may be another four years until it begins commercial production of the metal, Wrathall is optimistic that his punt will pay dividends.

“In 2016, I started to think about the electric vehicle revolution and what that would mean for metal demand and I started to think about lithium,” he told AFP in an interview.

“A friend of mine mentioned lithium being identified in Cornwall and I just wondered if that was a sort of an unrecognised thing in the UK.”

In fact lithium was discovered in Cornwall in 1864, while the area is known for its historic copper and tin mining, which dates back 4,000 years and ended at the turn of the century.

“Of course I would like to revive mining in Cornwall but this a commercial project,” insisted Wrathall.

“It’s not a mission that drives me to the point to be emotional or romantic.”

– ‘Encouraging results’ –

Cornish Lithium is at a testing stage to see if the metal can be produced commercially.

“Initial results are encouraging. I’m excited about it,” Wrathall said, whose company has revived a former mine situated away from the area’s picturesque villages and beaches.

The mining firm is looking to extract enough lithium from hot water underground to meet at least a “significant proportion” of UK demand, while at the same time respecting the environment.

It is mulling the capture of heat from underground to generate clean power, or geothermal energy, that can be used to extract the lithium.

Wrathall explained that Cornwall benefitted from having very clean water.

“It has a lot of lithium and very little of anything else,” he explained.

“When you’re looking for needles in a haystack you want as little hay as possible and more needle and that’s what we’ve got.”

– Long journey –

The project has been far from easy, from securing drilling rights from landowners to finding the technology to bring water containing the lithium to the surface.

And the company is facing competition from British Lithium, which is looking to extract the metal from Cornwall’s granite.

British demand for lithium is set to reach 75,000 tonnes by 2035, five years ahead of a UK ban on the sale of high-polluting diesel and petrol vehicles.

Lithium is mined mostly in Australia and South America, while China controls the supply chain.

And while automakers insist on the environmental benefits of electric vehicles, the bulk of current lithium extraction relies on power from polluting fossil fuels.

In Europe, projects are ongoing for cleaner extraction of the metal in France and Germany.

“It’s vitally important that we do get this technology otherwise Europe has got no lithium supply,” Wrathall insisted.

It comes as car giants Nissan and Renault recently announced plans for huge plants in England and France to make electric batteries.

The European Commission meanwhile wants to end the sale of new petrol and diesel cars by 2035, under a massive plan to fight climate change unveiled last week.

“Europe from a strategic point of view should be looking at securing its own supply of lithium,” said Alex Keynes at Brussels-based lobby group Transport & Environment.

“Our view is that medium-to-long term the majority of materials including lithium should come from efficient and clean recycling,” he told AFP.


Source: Bangladesh Sangbad Sangstha (BSS)