ADB, Modern Syntex ink $50m loan to expand energy-efficient Polyester Chips production in

Business DeskThe Asian Development Bank (ADB) and Modern Syntex Limited (MSL) today signed a $50 million loan for the Modern Energy-Efficient Polyester Chips Manufacturing Project in Bangladesh.The financing will support MSL's expansion of polyester chips production capacity from 107 tons to 407 tons per day and refinance short-term local working capital loans. The expanded facility will produce high intrinsic viscosity polyester chips used in higher-value textile and apparel products."Bangladesh's textile and ready-made garment industry is a key driver of the economy, but it continues to rely heavily on imported synthetic inputs," said ADB Country Director for Bangladesh Qingfeng Zhang."ADB's long-term financing will help MSL expand efficient domestic production, deepen backward linkages, strengthen supply chains, and support higher-value textile manufacturing."The project will introduce energy-efficient machinery, expected to save about 4,840 megawatt-...

Gold prices fall again in Bangladesh, 22-carat down by Tk 2,216

Bangladesh Jewellers Association (BAJUS) has reduced gold prices again, cutting the price of 22-carat gold by Tk 2,216 per bhori to Tk 228,556 including VAT.In a notice issued on Tuesday, BAJUS said the revised prices came into effect at 10:00am the same day.According to the notice, the price adjustment followed a decline in the price of pure gold in the local market.Under the new rates, 22-carat gold costs Tk 228,556 per bhori (11.664 grams), while 21-carat gold is priced at Tk 218,292, 18-cara...

Gold prices cut again after two consecutive hikes

The Bangladesh Jewellers Association (BAJUS) has cut gold prices in the domestic market after two consecutive increases, reducing the price of 22-carat gold by Tk 1,691 per bhori to Tk 232,930, including VAT.BAJUS announ...

401 held in 24hrs crack down by DMP

Dhaka Metropolitan Police (DMP) arrested 401 people in the capital over the past 24 hours and filed 26 cases as part of a regular crime crackdown.The arrests were made across the city's eight police divisions and by the Detective Branch, according to a DMP statement.Police said they arrested 24 people in Ramna, 34 in Lalbagh, 51 in Wari, 68 in Motijheel, 74 in Tejgaon, 71 in Mirpur, 36 in Gulshan, 42 in Uttara and one by the Detective Branch.During the operations, police said they seized a sword, a machete, an iron rod fitted with a sharp circular blade, another iron rod, 95 yaba tablets, 70 grams of heroin, 668 grams of cannabis and a private car.The arrests and seizures were made during operations in different police station areas of the capital, the statement said.Legal proceedings ...

Tarique meeting in New York leaves BNP activists disappointed

Spain rallies to beat England 3-2 in Nations League

World champion Spain extended its unbeaten run to 39 matches after coming from behind to defeat England 3-2 in the Nations League at Wembley on Saturday.Mikel Oyarzabal, who came off the bench, scored the decisive goal in the 74th minute to complete Spain’s comeback after England led 2-1 at halftime.Oyarzabal had also scored the winning goal when Spain defeated England in the 2024 European Championship final. This time, he calmly chipped goalkeeper James Trafford from close range after receiving a pass from Alex Baena.England missed a chance to move 3-1 ahead when Harry Kane failed to convert a second-half penalty, while defensive mistakes also contributed to Spain’s first two goals.“We couldn’t unfortunately convert the penalty, that may have been the decisive moment because I think then Spain would have maybe for the first time believed that their long run of unbeaten games ends here,” England coach Thomas Tuchel told ITV Sport.“The third goal, I think, was the only goal that they really scored. The other ones there were too many individual big mistakes,” he said.Spain, playing its first match since defeating Argentina in the World Cup final, made a fast start when Lamine Yamal scored less than two minutes into the game.Yamal dispossessed England defender Marc Guehi before firing a low shot past Trafford into the far corner.Spain created several chances and Ferran Torres, who scored the winning goal in the World Cup final, twice failed to capitalize after getting through on goal.England eventually equalized in the 36th minute when...

NBFI crisis: Time to restore discipline and accountability

The continued rise in non-performing loans in Bangladesh’s non-bank financial institution (NBFI) sector is no longer a problem that can be addressed through isolated corrective measures. It has ...

Turning investment plans into reality: Implementation is the real challenge

The government’s ambitious plans to improve the cost and ease of doing business, attract foreign investment, diversify exports and promote balanced industrialisation across the country are certainly encouraging. At a time when Bangladesh is fac...

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