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Essential Commodities: Prices spike a month ahead of Ramadan The soaring prices of daily essentials, including edible oil, onion and vegetables, have added to the woes of the people living on a fixed income. Consumers and market analysts blamed unscrupulous businessmen for the price hike, alleging that they are manipulating the prices ahead of Ramadan beginning in the middle of next month. Visiting kitchen markets in the capital's Shantinagar, Jatrabari, Shewrapara and Hatirpool areas yesterday, this newspaper found that the prices of essential commodities increased compared to a few weeks ag...

Processors warn of further rise in edible oil price Edible oil is likely to become costlier in the days ahead because of the upward price trend of soybean and palm oil worldwide as Bangladesh meets 90 per cent of its demand through imports, said processors yesterday. The prices of the key cooking ingredient have been soaring for the last several months, putting pressure on the consumers already suffering from a loss of income amid the ongoing coronavirus pandemic. Yesterday, retailers were selling unpackaged palm oil at Tk 102-105 a litre in the markets in Dhaka city, up 43 per cent year-on-y...

Bangabandhu Shilpa Nagar to go green Ecnec approves Tk 4,367cr project The government has undertaken a Tk 4,367 crore project to turn the Bangabandhu Sheikh Mujib Shilpa Nagar (BSMSN) into an environment-friendly industrial city with a view to attracting more foreign investment. The fresh project for the development of the BSMSN was approved by the Executive Committee of the National Economic Council (Ecnec) at its virtual meeting yesterday with its chairperson, Prime Minister Sheikh Hasina, in the chair.  The premier directed conducting massive publicity to inform the investors and attract...

TK Group to invest Tk 6,600cr in Bangabandhu Shilpa Nagar To set up six factories for consumer goods, chemicals Samuda Food Products, a subsidiary of TK Group, is set to make a fresh investment of Tk 6,600 crore in the consumer goods and chemical sectors. Samuda had initially planned to invest Tk 1,744.80 crore but the investment increased as the group got financing assurance from foreign banks. Samuda has already started work to set up a factory on a 60-acre plot at the Bangabandhu Sheikh Mujib Shilpa Nagar (BSMSN) in Mirsarai, Chattogram. "We will set up six factories at the BSMSN in phases...

SR Group sets up largest chemical plant in north Invests Tk 850cr, targets garment and cosmetics industries A view of SR Chemical’s plant in Bogura’s Sherpur upazila. Photo: Mostafa Shabuj SR Group has set up a chemical manufacturing plant in Bogura, the largest of its kind in the northern region of the country, at an investment of Tk 850 crore.  The project went into operation last month. Located on 35 acres of land in the Mirzapur area on the Dhaka-Rangpur highway under Sherpur upazila, SR Chemical Industries was established last year and started producing caustic soda on December 16...