A joint venture led by listed firm Shasha Denims is set to invest Tk350 crore to build the Ghorashal Inland Container Depot (ICD) in Ghorashal, Narsingdi, according to a stock exchange disclosure.

The depot will be developed under a design, build, finance, operate, maintain and transfer model and operated as a public-private partnership with Bangladesh Railway.

The joint venture has already signed a 30-year concession agreement with Bangladesh Railway and disclosed the investment plan through a filing on Sunday.

The project is being undertaken by Container Company of Bangladesh Limited (CCBL), to establish a multimodal inland container depot on 20 acres of land to handle import and export cargo from Chattogram and Mongla ports.

To implement the project, a special purpose company named "Ghorashal ICD and Port Limited" has been formed, in which Shasha Denims currently holds a 90% stake, the disclosure said.

The company added that the shareholding structure may change in future with the inclusion of strategic investors to strengthen the project's technical and financial capacity.

Aslam Ahmed Khan, company secretary of Shasha Denims, told TBS that the company has initially taken a 90% stake, but the ownership structure will evolve once strategic partners are brought in.

Previously, he said, "The depot will be built on 20 acres of land owned by Bangladesh Railway. The railway will only provide the land on a rental basis for 30 years, and in return, the railway will receive 15% of the total revenue."

The company expects construction to be completed by 2028, after which commercial operations will begin, he added.

In January 2024, CCBL, a government-owned company under the Ministry of Railway, floated a tender to build the multimodal inland container depot, seeking interest from local and foreign investors.

Earlier reports by TBS said the project failed to attract bidders despite two rounds of tenders, prompting CCBL to prepare for a third bidding attempt.

The project aims to ease the movement of export-import cargo to and from Chattogram and Mongla ports and is being implemented by CCBL, a subsidiary of Bangladesh Railways.

Shasha Denims is one of the leading listed textile companies, with an annual turnover of about Tk1,000 crore. In FY25, the company posted consolidated revenue of Tk1,128 crore, marking a 0.91% year-on-year decline, while profit fell 12.54% to Tk21.68 crore, with earnings per share of Tk1.57.

The board recommended a 5% cash dividend for shareholders. In the first half of the current fiscal year, revenue declined 2.33% year on year to Tk617.40 crore, while profit dropped 52% to Tk8.02 crore.

Today, Shasha Denims shares closed at Tk16 each, up 4.58% from the previous trading session.

Summit Alliance Port Limited, one of the country's leading inland container terminal and logistics operators, reported a sharp decline in revenue and profit in the first half of FY26, primarily due to a slowdown in export-related container handling and lower freight rates.

According to its price sensitive statement, the company's consolidated revenue fell by 28% year-on-year to Tk322 crore in the July–December period of FY26, while consolidated net profit dropped by 37% to Tk22.82 crore. As a result, consolidated earnings per share stood at Tk0.96, compared to a stronger performance in the same period of the previous fiscal year.

The company's consolidated net asset value per share also declined, slipping to Tk34.47 from Tk35.67 a year earlier.

Summit Alliance Port attributed the weaker performance largely to the downturn in its subsidiary Container Transportation Services Limited (CTSL), which experienced lower net profit during the reporting period due to reduced cargo volumes, a fall in freight rates and the absence of dividend income from subsidiaries.

The elimination of dividend income amounting to Tk17.32 crore further weighed on overall profitability during the first half of the fiscal year.

The half-yearly financial report showed that earnings from air and sea freight export handling under Container Transportation Services fell significantly by 38% to Tk198 crore. The decline reflects subdued export activity and intense competition in the freight forwarding segment, which compressed margins despite the company's efforts to expand its service offerings. Container Transportation Services continues to remain the primary revenue driver for Summit Alliance Port, making the group's overall performance highly sensitive to changes in export volumes and global trade conditions.

According to the Export Promotion Bureau, overall export earnings during the July-December period declined 2.19% to just under $24 billion.

Established in 2013, Container Transportation Services initially focused on domestic transportation but later diversified into freight forwarding after obtaining a customs licence in June last year. The company has since been positioning itself as an integrated logistics service provider, catering to both domestic and international clients. As part of this strategy, CTS partnered with Germany-based Hellmann Worldwide Logistics as its local agent, aiming to tap into global freight networks and strengthen operational capabilities.

In January 2025, Summit Alliance Port announced a strategic partnership with Hellmann Worldwide, under which the German logistics firm subscribed to 3.33 lakh new CTS shares at Tk66.50 each. The collaboration was designed to enhance the group's international reach and improve efficiency across South Asia. However, the benefits of this partnership have yet to fully offset the impact of weaker export demand and lower freight rates in the current reporting period.

Summit Alliance Port's shareholding structure includes Alliance Holdings with a 23.48% stake and Summit Holdings owning 8.07%. Among individual sponsors, Alliance Holdings founder and Summit Alliance Port Managing Director Jowher Rizvi holds 5.48% of the shares, while Summit Group Chairman Aziz Khan owns 7.03%.

Padma Bank, formerly Farmers Bank, slid into long-term insolvency after large-scale lending irregularities, failed state bailouts and continued governance failures, leaving it unable to recover defaulted loans or restore capital.

How it happened:

The bank began facing severe financial stress soon after its establishment in 2013 because of large-scale lending anomalies.
By 2018, the situation had worsened to the point where four state-owned banks and the Investment Corporation of Bangladesh injected Tk715 crore as a bailout.
State-owned banks later provided a further Tk1,000 crore through subordinate bonds and fixed deposits.
Despite these public investments, the bank failed to recover money from defaulters, allowing capital erosion to continue.
Governance problems persisted even after the board was reconstituted under the bailout package.

90% default loans, insolvent for years – Padma Bank merger still not in sight

Chowdhury Nafeez Sarafat was appointed chairman in January 2018 after former chairman Muhiuddin Khan Alamgir resigned amid allegations of financial scams.
Sarafat allegedly siphoned money from the bank to his firm, Bangladesh RACE Asset Management, further weakening the bank's financial position.
Like his predecessor, Sarafat later resigned after failing to restore the bank's financial health.
Neither Sarafat nor Alamgir has faced legal action over the alleged financial plundering.
By June 2025, Tk5,131 crore of the bank's Tk5,598 crore in loans had turned non-performing, accounting for more than 91% of total loans.
The bank recorded negative shareholder equity of Tk4,533 crore, meaning its liabilities exceeded its assets.
Continued operating losses further deepened the bank's insolvency.
The bank also accumulated Tk683 crore in dues to Bangladesh Bank, including penalties and shortfalls in maintaining mandatory cash and liquidity reserves.

Two listed cement makers, Crown Cement PLC and Premier Cement Mills PLC, reported sharp profit declines in the first half of the current fiscal year, despite largely stable revenue, highlighting growing margin pressure in Bangladesh's cement sector amid intense competition and rising input costs.

Crown Cement posted revenue of Tk1,872 crore in the July–December period of FY26, up 15% from a year earlier. Second-quarter revenue rose 8% to Tk993 crore, while export earnings increased 36% year-on-year to Tk46.46 crore.

However, profitability weakened significantly. Net profit fell 48% year-on-year to Tk11.75 crore in the first half, while second-quarter profit dropped 73% to Tk5.08 crore. Earnings per share declined to Tk0.79 from Tk1.52 a year earlier.

Following the earnings disclosure, Crown Cement's shares slipped 1.87% to close at Tk47.20 on the Dhaka Stock Exchange today (29 January).

In its financial statement, the company attributed the profit drop to rising production costs and pricing pressure. Although sales volume increased 11.64% – supported by strong demand and the commissioning of its sixth production unit, adding 8,040 tonnes of daily capacity – the cost of goods sold rose 13.16%, driven by higher clinker duties and increased global raw material prices. As a result, the gross margin narrowed to 9.74% from 13.87% a year earlier.

Premier Cement Mills reported a similar trend. Its first-half revenue stood at Tk1,059 crore, nearly unchanged from the previous year, while second-quarter revenue remained flat at Tk541 crore. Export income fell 35% year-on-year to Tk9.77 crore.

The company's net profit declined 49% year-on-year to Tk1.97 crore in the first half, with second-quarter profit dropping 72% to Tk0.68 crore. Earnings per share fell to Tk0.19 from Tk0.36 a year earlier.

Premier Cement's shares dropped 2.67% to close at Tk36.40 on the DSE following the announcement.

Advanced Chemical Industries (ACI) PLC has approved an investment of Tk640 crore in its subsidiary, ACI Logistics Limited, which operates the country's leading retail chain Swapno. The move is aimed at strengthening the business and supporting future growth.

The decision was taken at ACI's board meeting on Thursday, according to a disclosure on the company's website. The investment will be made through the subscription of 6.4 million convertible preference shares of ACI Logistics, each with a face value of Tk1,000.

The total subscription amounts to Tk640 crore and is expected to be completed on or before 31 March 2026, subject to approval from the relevant regulatory authorities.

Swapno, the flagship brand of ACI Logistics, is one of Bangladesh's largest organised retail chains, with a widespread presence across the country. The fresh capital is expected to strengthen the balance sheet, expand operations, and enhance supply chain efficiency amid stiff competition in the retail sector.

Market insiders said the move reflects ACI's continued commitment to its retail business, which has been expanding rapidly despite challenges such as rising operating costs and margin pressure in consumer goods. By investing through convertible preference shares, ACI is also maintaining strategic flexibility to manage its stake in the subsidiary over the long term.

In a separate decision, ACI's board approved the formation of a dedicated institution focused on artificial intelligence. The new entity, named ACI Institution of Artificial Intelligence, will receive an initial investment of Tk5 crore and is subject to regulatory approval.

Company officials said the institute will help ACI build expertise in artificial intelligence, data analytics, and digital solutions, strengthening technological innovation across its businesses.

Industry observers noted that the initiative comes at a time when major Bangladeshi conglomerates are increasingly adopting AI to improve efficiency, optimise supply chains, enhance customer engagement, and support research and development. For a diversified group like ACI, AI-driven solutions could impact pharmaceuticals, consumer goods, agribusiness, and retail operations.

ACI PLC is one of the country's leading conglomerates, with operations spanning pharmaceuticals, consumer brands, logistics, and retail.

Advanced Chemical Industries (ACI) PLC has decided to form and establish a dedicated institution focused on artificial intelligence as part of its efforts to strengthen technological innovation and future-ready capabilities across its businesses.

According to a disclosure, the decision was taken at the company's board meeting held on Thursday. The board approved the formation of the institution under the name "ACI Institution of Artificial Intelligence," with an initial investment of Tk5 crore.

The proposed institute will be established subject to the approval of the concerned regulatory authorities.

Company officials said the initiative reflects ACI's strategic intent to invest in advanced technologies and build internal expertise in artificial intelligence, data analytics and related digital solutions.

Industry observers noted that the move comes at a time when large conglomerates in Bangladesh are increasingly exploring artificial intelligence to enhance operational efficiency, optimise supply chains, improve customer engagement and support research and development.

For a diversified group like ACI, AI-driven solutions could play a significant role across its pharmaceuticals, consumer goods, agribusiness and retail operations.

ACI PLC is one of the country's leading conglomerates, with a presence in pharmaceuticals, consumer brands, logistics and retail.

As part of the interim government's efforts to reduce project expenses, the construction of Eastern Refinery Limited's second unit (ERL-2) has been cut by Tk4,465 crore, even before work has begun.

A revised proposal, a copy obtained by The Business Standard, puts the project's new cost at Tk31,000 crore, down from Tk35,465 crore, and has been submitted to the Planning Commission.

On 23 December, the Executive Committee of the National Economic Council (Ecnec) approved the project conditionally, asking for a review of various components, senior planning commission officials said.

They said Ecnec had asked to revise detailed engineering, design, construction supervision, commissioning, and associated buildings and infrastructure – to ensure costs were reasonable.

Following the directives, a cost review committee was formed under Amin Ul Ahsan, chairman of Bangladesh Petroleum Corporation (BPC), with officials from ERL and the energy division.

The committee reviewed capital expenditures and subcomponents, including engineering design, pre-commissioning and commissioning, internal roads, plant-related buildings, and other equipment.

After thorough review, the committee recommended a revised total cost of Tk31,000 crore, officials said.

12.59% cost reduction

BPC officials said the reviewed committee made significant reductions in several areas. Construction of plant-related buildings was cut by Tk768.83 crore, reducing the proposed cost to Tk250 crore.

Expenditure on engineering and other equipment fell by Tk1,726 crore from the original Tk8,203.89 crore.

Costs for other infrastructure dropped by Tk1,626 crore to Tk9,506 crore. Other capital expenditures were trimmed by Tk1,364 crore to Tk3,815 crore, and internal road costs fell from Tk288 crore to Tk138 crore.

Planning officials said the revision represents a 12.59% reduction from the Ecnec-approved project cost. Under the June 2022 Government Project Formulation, Processing and Approval Guidelines, any project cost reduction of 10% or more requires presentation to the Project Evaluation Committee (PEC).

The revised project proposal will be presented at a PEC meeting on 1 February.

IsDB offers $1b

Although Ecnec approved the project for self-financing, it also instructed the ministry to explore the possibility of securing concessional foreign loans.

Sources at the Economic Relations Division (ERD) said the Islamic Development Bank (IsDB) has expressed interest in providing $1 billion or more for ERL-2. On 22 December, the IsDB sent an initial proposal for financing, with final approval expected after a mission visits Bangladesh.

Project revival

Eastern Refinery, established in 1968 under French contractor Technip, first planned a second unit in 2010. The government approved Tk13,000 crore in 2013, but no progress was made. In 2022, BPC attempted to proceed with its own funds, raising the estimate to Tk23,000 crore, but work still did not start.

In 2024, S Alam Group offered to construct ERL-2 for Tk25,000 crore, approved on 9 July. The project was suspended in August after the mass uprising that toppled Sheikh Hasina's government.

The interim government revived the plan, which by then was estimated at Tk36,410 crore. Unable to secure foreign loans, it was revised to rely on state funds and BPC resources; the original estimate had been Tk42,974 crore.

4.5m tonnes of crude oil annually

Officials said Eastern Refinery currently meets only 20% of Bangladesh's petroleum demand, the rest imported. ERL-2 will produce Euro-5 gasoline and diesel and upgrade the existing refinery's diesel, motor spirit, and octane to Euro-5 standards.

BPC has completed a new "Installation of Single Point Mooring (SPM) with Double Pipeline" project, enabling transport of up to 4.5 million tonnes of crude oil annually.

Officials project ERL-2 could produce 400,000 tonnes of furnace oil, 60,000 tonnes of LPG, 600,000 tonnes of Euro-5 gasoline, 1.1 million tonnes of Euro-5 diesel, 200,000 tonnes of lube base oil, and 500,000 tonnes of jet fuel yearly.

Of the 110,774 green buildings recognised worldwide, HAMS Garments Ltd has secured a top position, scoring 108 out of 110 points under the latest certification.

The factory owners said they had to spend less than Tk2 crore additionally to obtain recognition as a top green factory.

Although the factory does not receive higher prices from foreign buyers for green production, Shafiqur Rahman, managing director of HAMS, told The Business Standard that the recognition helps keep the company "in buyers' good books." "It is a prestigious achievement," he said.

Ananta Ahmed, managing director of 360 TSL, which works on green buildings in Bangladesh and provided technical support to HAMS for the certification, told TBS that globally, about 30 buildings have scored more than 100 points, of which nine are in Bangladesh. Notably, all of the top five such facilities are located in Bangladesh.

Explaining why HAMS scored higher than others, Ananta said the factory successfully met the criteria it had targeted within the stipulated timeframe, which helped it secure the score.

He added that the factory missed two points mainly because it could not meet the outside water-saving criteria. "There was not enough space outside the factory area to fulfil that requirement," he said.

Ananta said the main criteria for green certification include comparisons with set benchmarks on water consumption and how much energy use is reduced through energy-efficient technologies.

He said the indoor environment of the factory or building is also assessed, along with the percentage of open space outside the factory building maintained as green areas.

He added that scoring also considers, if crops are grown in green spaces, how irrigation is managed and what types of fertilisers or pesticides are used there.

He further said that the amount of carbon emissions generated by workers' commuting to and from the factory is also taken into consideration.

"Bangladesh enjoys a comparative advantage in this regard," Ananta said, noting that many workers commute on foot, which keeps carbon emissions lower and helps raise scores.

He added that areas such as location and transportation planning, site selection and management, policies and procedures, audits, training and human development, preventive maintenance systems, procurement strategy, product and material selection, and operational discipline and documentation do not require extra costs, yet together account for around half of the total score.

The factory owner said the facility, which employs about 7,000 workers, had to spend nearly Tk2 crore additionally to achieve the highest score.

Shafiqur Rahman told TBS, "The use of environmentally friendly technologies has reduced water consumption by 30% and energy use by 20% at the factory."

For the achievement, the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) accorded a special reception to HAMS Garments Ltd yesterday.

Speaking at the event, BGMEA Senior Vice President Inamul Haque Khan said HAMS Garments Ltd set a new world record by scoring 108 out of 110 under the US Green Building Council (USGBC) LEED Platinum certification.

"The achievement is not just about numbers but represents the highest score among green factories worldwide," he said.

"The success has taken the prestige and capability of the 'Made in Bangladesh' brand to a new height globally and has created a global benchmark for Bangladesh's garment sector," he added.

MJL Bangladesh Limited, a leading lubricant and energy company, has reported a year-on-year decline in its consolidated revenue and profit for the first six months of the current fiscal year, as customers faced ongoing economic challenges and increasingly shifted toward lower-cost products.

In the July to December period, the company's consolidated profit decreased to Tk100.88 crore, which is 53.61% lower from Tk217.44 crore in the period of the previous year, according to its financial statements.

The company said changes in consumer purchasing behaviour – driven by cost pressures and cautious spending – negatively affected sales volumes and profit margins during the period. As customers prioritised affordability, demand for premium and higher-margin products weakened.

Since MJL primarily manufactures and markets high-quality products, the growing preference for low-cost alternatives had a direct impact on the company's revenue performance. The shift in consumer demand limited sales growth and exerted pressure on overall profitability during the reporting period.

The share price of the company closed at Tk92.40 on the Dhaka stock exchange on Thursday (29 January).

Revenue down 17.52%

In the July to December period, the company made revenue of Tk2017.53 crore, which is 17.52% lower from Tk2446.12 crore compared to the same period of the previous year, said the financial statement.

In the first six months, its earnings per share stood at Tk3.86, which was Tk6.66 a year ago.

In the October to December quarter, its consolidated profit reduced to Tk4.74 crore, which is down from Tk104.27 crore in the period of the previous year.

In this quarter, the company made revenue of Tk1027.88 crore, which is lower from Tk1200.65 crore compared to the same period of the previous year.

In the October to December quarter, its earnings per share stood at Tk0.80, which was Tk3.23 a year ago.

'No compromise on product quality'

A senior company official, speaking on condition of anonymity, said they never compromise on product quality, which makes its products slightly more expensive than competitors in the market.

"Due to inflationary pressures and challenging economic conditions, customers are increasingly shifting toward lower-cost alternatives, which has affected the sales of high-value, quality products," he added.

Meanwhile, imports of liquefied petroleum gas (LPG) from Iran have become more difficult due to existing sanctions. The company usually imports these raw materials through Singapore. Since these products cannot be imported secretly, the restrictions have directly impacted the company's business operations.

Its net asset value per share stood at Tk52.72 at the end of December 2025.

The company owns a state-of-the-art lube oil blending plant and offers high-performance and authentic lubricants, grease products and other innovative energy solutions to the local market and exports some of its products to the international market as well, according to its financial statement.

In FY25, MJL recommended a 52% cash dividend of their shareholders. As on December 2025, the sponsors and directors jointly hold 71.52%, institutions 22.15%, general investors 6.33% of the company.

BSRM Limited reported that its consolidated net profit dropped by 11% year-on-year to Tk78.70 crore in the October to December of FY26.

Meanwhile, in the first half of this fiscal year, its consolidated revenue rose by 18% to Tk4,756 crore and the consolidated net profit inched up to Tk202 crore, compared to the previous year during the same period.

At the end of the first half, its consolidated earnings per share stood at Tk6.79.

BSRM Steel reported that its revenue jumped by 47% year-on-year to reach at Tk5,976 crore in the July-December of FY26.

According to the company's price sensitive statement filed on the Dhaka Stock Exchange today (25 January), its net profit rose by 10% to Tk193 crore during the first half of FY26, compared to the previous year during the same period.

At the end of first half, its earnings per share stood at Tk5.14.

Meanwhile, during the second quarter (October-December) its revenue grew by 31% to Tk3,339 crore and the net profit rose by 6% to Tk95 crore.

The inaugural ceremony of Sammilito Islami Bank, scheduled for 10am tomorrow (25 January) at Hotel Intercontinental Dhaka, has been postponed.

Arief Hossain Khan, spokesperson for Bangladesh Bank, confirmed the matter to the media.

Salehuddin Ahmed was scheduled to attend as chief guest, while special guests were to include Finance Secretary Md Khairuzzaman Mozumder, and Governor of Bangladesh Bank Ahsan H Mansur. The programme was to be presided over by Sammilito Islami Bank Chairman Mohammad Ayub Miah.

Other attendees were expected to include senior officials from Bangladesh Bank, the Finance Ministry, and the country's top financial institutions.

Sammilito Islami Bank PLC was formed through the merger of First Security Islami Bank, Global Islami Bank, Social Islami Bank, Exim Bank, and Union Bank.

The new bank boasts one of the largest capital structures in Bangladesh's banking history, with an authorised capital of Tk40,000 crore and a paid-up capital of Tk35,000 crore – Tk20,000 crore contributed by the government and Tk15,000 crore through conversion of depositors' shares.

Biman Bangladesh Airlines has suspended two premium long-haul routes within a year, despite one not being loss-making, exposing deep structural weaknesses in fleet planning and route strategy as the national carrier struggles to balance Hajj operations, aircraft shortages and brand credibility.

The most recent decision to suspend the Dhaka-Manchester route from March ahead of Hajj operations comes months after Biman halted the Dhaka-Narita service following heavy losses, indicating a pattern of abrupt long-haul withdrawals that industry experts say reflects deeper flaws in feasibility assessment and long-term fleet planning rather than isolated operational pressures.

At the heart of the disruption is a shrinking and overstretched wide-body fleet, with no new aircraft added in five years, repeated failures to lease additional planes and fresh deliveries from Boeing still at least six years away, forcing the airline to repeatedly reshuffle routes instead of executing a stable network strategy.

Aviation analyst and former Biman Board member Kazi Wahidul Alam said focusing solely on labour-intensive Middle Eastern routes risks weakening the airline's brand.

"Biman is not a budget carrier. Excluding premium routes like Dhaka-Manchester while focusing only on labour routes is not acceptable if the airline wants to maintain a strong image," he told The Business Standard. "To sustain brand value, important international routes must continue."

However, Biman maintains that closing or suspending a route is not a sign of mismanagement but a responsible, safety-driven, and pragmatic operational decision, particularly in the face of severe fleet constraints.

Manchester route suspended amid fleet crisis

Biman has announced that the Dhaka-Manchester-Dhaka route will be temporarily suspended from 1 March 2026 until further notice. The airline cited aircraft shortages, upcoming Hajj operations, long-term maintenance of existing aircraft, and the need to ensure optimal fleet utilisation across its network.

Responding to demands from Sylhet-origin expatriates based in Manchester to keep the route operational, Biman said the Dhaka-London route remains available and can absorb demand, noting that Manchester is about 262 kilometres from London and reachable by train in around two hours.

According to Biman sources, the Manchester route was neither loss-making nor profitable. "However, national interest and Hajj operations require aircraft reallocation during peak periods," a senior official said.

The route has a history of disruption. It was first suspended in 2012 due to aircraft shortages and resumed in early 2020 following long-standing demands from expatriates. The latest suspension – less than five years after resumption – has again raised concerns among passengers.

Biman spokesperson Bosra Islam told TBS that wide-body aircraft such as the Boeing 787 and 777 are used for European, Hajj and Middle Eastern routes. "Manchester is a long-haul destination, and a single aircraft remains tied up for several days. In contrast, the same aircraft can operate multiple Middle Eastern flights within that time," she said.

She added that with a limited fleet, maximising aircraft productivity becomes an operational necessity.

Focus shifts to Middle East routes

Biman says it is prioritising Middle Eastern destinations, where demand from expatriate workers, Umrah pilgrims, transit passengers and cargo movement remains strong. Currently, routes such as Dubai, Jeddah, Riyadh, Doha, Dammam and Muscat are experiencing high passenger loads.

Biman Managing Director Shafikur Rahman recently told the media that expansion in the Middle East remains a key priority due to its importance for remittances, transit traffic and cargo. However, all growth will be phased and tied to fleet availability.

"Our future growth strategy focuses on measured network expansion aligned with market demand and operational capacity," he said. "All new expansion will be introduced in phases, supported by careful fleet planning and commercial viability assessments."

European long-haul operations also require additional pilots, more cabin crew and longer rest periods. During peak Hajj and Umrah seasons, the same crew resources are heavily deployed on Middle Eastern routes, allowing higher flight frequencies and better utilisation.

The next Hajj flight operations are scheduled to begin from 18 April. During the season, thousands of pilgrims must be transported within a limited timeframe, requiring a large number of special flights alongside regular schedules. This pressure often leads to reduced frequencies or suspensions on other routes.

In addition, routine C-checks, engine overhauls and structural inspections can take aircraft out of operation for weeks or months, further tightening fleet availability.

Biman is currently operating 22 international routes with a fleet of 19 aircraft. The airline has failed at least five times in the past two years to lease additional aircraft, and no new aircraft have been added in the last five years.

New aircraft purchases from Boeing are expected only by 2031 – still six years away – leaving the carrier struggling to balance expansion, premium connectivity and operational sustainability amid growing passenger demand.

Narita route: premium service, heavy losses

Biman's Dhaka-Narita route, another premium long-haul service, was suspended in July last year within just 21 months of its resumption due to heavy financial losses.

The national carrier first launched the Narita route in 1979. After multiple suspensions – in 1981 and again in 2006 due to sustained losses – the service was relaunched on 1 September 2023 amid strong public enthusiasm, as it cut travel time to six to seven hours and eliminated long transit stops.

However, Biman sources said each Narita flight incurred losses of nearly Tk95 lakh, with average cabin occupancy at 69%. Total losses on the route stood at Tk215.58 crore, forcing the airline to halt operations and pushing passengers back to third-country transit routes, increasing travel time and costs.

Islami Bank Bangladesh PLC has decided to form a subsidiary to provide mobile financial services (MFS).

The decision was taken at a meeting of the bank's board of directors today (22 January), held at its boardroom, subject to the completion of all regulatory formalities.

As per the decision, the authorised capital of the proposed subsidiary will be Tk1,000 crore, while the initial paid-up capital will be Tk50 crore. The paid-up capital will be increased gradually in line with investment requirements.

According to a price-sensitive disclosure, Islami Bank will hold at least 51% of the shares of the subsidiary, while the remaining shares may be offered to strategic investors in accordance with Bangladesh Bank's MFS guidelines.

Md. Omar Faruk Khan, managing director of Islami Bank, said, "The bank has decided to launch a Mobile Financial Service (MFS), and the necessary documents are being prepared for submission to the central bank."

According to the bank's website, Islami Bank currently operates its own MFS platform, mCash, which was launched in December 2012.

Through mobile phones, mCash offers services including cash deposits and withdrawals, fund transfer from one account to another, receiving remittance from abroad, checking account balance and mini-statement, giving and receiving salary, mobile recharge and payment of utility bill, merchant bill payment.

According to the bank's unaudited consolidated financial statements, Islami Bank reported a profit of Tk99.77 crore in the first nine months of 2025 (January–September), down from Tk267.72 crore in the same period of 2024. In 2024, the bank posted a net profit of Tk10,878 crore, a significant decline from Tk635.33 crore, and did not pay any dividends to shareholders.

Grameenphone has secured 10 megahertz of spectrum in the 700 MHz band, often called the “golden frequency” for its wide coverage and strong indoor reach, marking the first-ever allocation of the low-band frequency to a mobile operator in Bangladesh.

The spectrum was assigned at the base price, meaning the government will earn Tk 2,370 crore from the deal. The rate was set at Tk 237 crore per megahertz (MHz).

The allocation will run for 15 years, with payments spread over 10 instalments. If the allocation period ends earlier, the payable amount will be adjusted accordingly.

The approval came yesterday at a joint meeting of the Spectrum Auction Committee and the Spectrum Management Committee, said Major General (retd) Md Emdad ul Bari, Chairman of the Bangladesh Telecommunication Regulatory Commission (BTRC).

The BTRC had fixed January 21 as the auction date. With only one bidder in the race, the regulator proceeded under its single bidder allocation rules.

The move follows Robi Axiata’s decision to withdraw from the auction, citing a “mismatch” between the auction timing and its network priorities. Banglalink and state-owned Teletalk stayed away.

Despite the thin turnout, the regulator went ahead, saying that preparations had been underway since 2024. It also said Robi had shown interest in spectrum from another band, which could be taken up later.

Earlier this month, anticipating a lone bidder, the BTRC revised its auction rules. It cut the maximum spectrum cap for a single operator to 10 megahertz from 15, out of a total 25 MHz on offer.

The regulator said the change was meant to protect competition and keep room for other operators in the future.

The 700 MHz band is valued for its ability to cover large areas and penetrate buildings, making it well suited for rural connectivity and indoor coverage.

With the allocation, Bangladesh formally begins using the 700 MHz band for mobile broadband, a step long viewed as key to improving nationwide network reach and service quality.

Tanveer Mohammad, chief corporate affairs officer of Grameenphone, said, “We have received the acknowledgement letter from BTRC stating Grameenphone’s eligibility for the acquisition of the 700 MHz spectrum, on completion of all applicable regulatory requirements. This reinforces our commitment to strengthening network quality and delivering a superior, reliable experience for our customers across Bangladesh.”

He said, “We appreciate BTRC’s continued support in enabling a future-ready telco ecosystem. This will allow us to further enhance coverage, particularly in underserved and indoor environments, while improving network efficiency and resilience.”

“We look forward to responsibly utilising this spectrum to further elevate service quality and deliver secure, innovative digital services for our more than 85.6 million customers, reinforcing our role as a key enabler of Bangladesh’s digital progress,” he added.

Even so, a large part of the band remains out of reach. Twenty MHz is still locked in a long legal dispute between the BTRC and broadband service provider Always On Network.

With a view to future expansion of operations, Olympic Industries, a listed company in the food and allied sector, has decided to purchase 19.25 decimals of land at an agreed price of Tk57.75 lakh in Narayanganj.

The company has also decided to invest Tk20 lakh in Tripti Industries as a sponsor shareholder in the name of Olympic Industries.

The board approved an investment decision in land and subscription of ordinary shares in Tripti Industries on 19 January, which was disclosed through the stock exchanges on Tuesday.

Land investment

Olympic Industries said its board approved the purchase of 19.25 decimal land under the mouza Madanpur-6 in Narayanganj district to undertake construction to accommodate future expansion of operations.

The purchaser, Olympic Industries, shall also bear the total registration costs, inclusive of value-added tax, taxes and other charges, the disclosure said.

Investment in Tripti Industries

The board of Olympic Industries has approved an investment of Tk20 lakh in Tripti Industries, divided into 2 lakh ordinary shares worth Tk10 each, as a sponsor shareholder in the name of Olympic Industries.

The proposed authorised capital of Tripti Industries will be Tk50 crore, divided into 5 crore ordinary shares of Tk10 each, while the paid-up capital will be Tk50 lakh, divided into 5 lakh ordinary shares of Tk10 each.

Previously, there was a listed company named Tripti Industries under the common management of Olympic Industries. In 2008, Olympic Industries and Tripti Industries merged, after which the business has been operating under the name Olympic Industries.

Regarding the investment in Tripti Industries, Mintu Kumar Das, company secretary of Olympic Industries, told The Business Standard: "The board has taken the decision to invest in Tripti Industries. The nature and business line will be decided after the completion of all formalities."

In FY25, Olympic Industries posted Tk2,772 crore revenue with a 6.91% growth year-on-year, and posted a profit of Tk201 crore, which was Tk183.40 crore in the previous fiscal year.

It had paid 30% cash dividend to its shareholders.

On Tuesday, its share price closed at Tk174.70 each at the Dhaka Stock Exchange (DSE).

Advanced Chemical Industries (ACI) PLC, one of the largest conglomerates in Bangladesh, is set to expand its business footprint into the semiconductor and property sectors.

To operate in these new segments, the ACI board has decided to form two new subsidiaries – ACI Semiconductor Limited and ACI Properties Limited – at a board of directors' meeting held on Thursday.

An official of ACI told TBS, "We are hoping for bright prospects in both business segments in the future, which is why the management has decided to enter these segments by forming two subsidiaries of ACI PLC."

ACI Semiconductor Limited will have an authorised capital of Tk100 crore and a paid-up capital of Tk10 crore.

In the company, ACI will own 85% shares, which is subject to the approval of the concerned authority.

ACI Properties Limited will have an authorised capital of Tk100 crore and paid-up capital of Tk10 crore. In the company, ACI will hold 85% shares.

The official said the new business segment will enhance ACI's business portfolio.

According to its latest annual report for the 2024-25 fiscal year, ACI owns 17 subsidiaries and five joint ventures and associate companies operating across the country through its five diversified strategic business units – healthcare, consumer brands, agribusiness, motors and retail chains.

Its healthcare division delivers innovative and pharmaceutical products, the consumer brands division with its toiletries, home care, hygiene, electrical, salt, flour, foods, rice, edible oil, paints and international businesses.

ACI's agribusiness arm is the country's largest integrated platform in agriculture, livestock and fisheries, while ACI Motors is a leading player in farm mechanisation, motorcycles, commercial vehicles and construction equipment.

The retail chain division operates Shwapno, the largest retail network in Bangladesh, with more than 683 outlets nationwide, including 220 newly opened stores, serving over 1,00,000 customers daily.

ACI traces its origins to Imperial Chemical Industries, a British multinational that established operations in then East Pakistan. Following Bangladesh's independence, the business became ICI Bangladesh Manufacturers Limited before being acquired by its management in 1992 and renamed Advanced Chemical Industries (ACI) PLC.

Financial performance

For the financial year ended on 30 June 2025, ACI reported a marked performance improvement, with its consolidated loss narrowing significantly. The group posted a consolidated loss of Tk41.91 crore, or Tk7.40 per share, compared with Tk128.47 crore and Tk15.88 per share in the previous year.

Its consolidated revenue for FY25 stood at Tk13,790 crore, up from Tk12,431 crore in the previous fiscal year.

ACI's management attributed the improvement in profitability to steady revenue growth and stronger cost control.

During the year, the company achieved a 10.93% increase in consolidated revenue and a 15.42% rise in gross profit. The growth in gross profit outpaced operating expense growth, leading to higher operating profit despite challenging market conditions.

However, the company noted that higher borrowing costs partially offset the gains. The cost of borrowings increased during the year, driven by rising interest rates and additional funding requirements for working capital and strategic investments to support business expansion.

ACI's 25% cash dividend was approved by the shareholders in the annual general meeting (AGM) held on 28 December 2025.

In the first quarter of the current fiscal year, ACI reported a consolidated profit of Tk6.32 crore with an earnings per share (EPS) of Tk0.39, which was a consolidated loss of Tk46.91 crore and loss per share of Tk4.82 in the same time of the previous fiscal year.

Its consolidated revenue surged to Tk3,696 crore from Tk2,971 crore in Q1 of FY25.

The group achieved a 24.40% revenue growth, which was contributed to by a number of businesses as demonstrated in consolidated operating segments.

Apex Tannery, a listed leather goods manufacturer, has decided to set up an in-house effluent treatment plant (ETP) at a cost of Tk12 crore to meet regulatory requirements and comply with the environmental standards demanded by international buyers.

The company made the decision at a recent board meeting and disclosed it through the Dhaka Stock Exchange (DSE) website.

Although Apex Tannery had earlier obtained approval to establish its own ETP at its factory premises in the Bangladesh Small and Cottage Industries Corporation Savar Leather Industrial Estate, it is now moving forward with the investment.

Currently, there is a central effluent treatment plant (CETP) at the Savar tannery estate, but due to its technical limitations and inability to treat the full volume of liquid waste generated by all factories, some entrepreneurs have taken steps to set up their own ETPs to support business operations.

According to the disclosure, Apex Tannery's in-house ETP will include a chrome recovery plant and a sewerage treatment plant, and will be built on an area of approximately 12,000 to 15,000 square feet. The facility will be designed to treat effluent generated at all stages of production – from wet blue to finished leather.

The decision comes at a time when Apex Tannery has been struggling financially.

According to its latest financial statements, the company has been incurring losses for three consecutive fiscal years since FY23. Due to the continued losses, the company did not declare any dividend for its shareholders.

The company remained in a loss-making position in the first quarter of the current fiscal year as well. During the July-September period, its revenue edged up to Tk13.97 crore from Tk12.91 crore in the same period of the previous fiscal year, but it still incurred a loss of Tk7.59 crore, with a loss per share of Tk4.98.

Today, the company's shares closed at Tk59.90 each on the DSE, up 4.90% from the previous session.

The interim government has appointed three key officials of the administration to the Board of Directors of Biman Bangladesh Airlines Limited.

The new appointees are National Security Adviser (NSA) Dr Khalilur Rahman, Special Assistant to the Chief Adviser Faiz Ahmad Taiyeb, and Senior Secretary of the Election Commission (EC) Secretariat Akhtar Ahmed.

A gazette notification was issued in this regard by the Ministry of Civil Aviation and Tourism yesterday (15 January). The order, issued by the president's command and signed by the ministry's Senior Assistant Secretary Mst Shakila Pervin, stated that the appointments were made under Section 30(b) of the Bangladesh Biman Act, 2023.

The order comes into effect immediately in the "public interest," according to the notification.

Zant Accessories Limited has signed a land lease agreement with the Bangladesh Economic Zones Authority (BEZA) to produce polyurethane and polyethylene foam at the National Special Economic Zone (NSEZ).

The agreement was signed today (14 January) at the BEZA office, said a press release.

Under the agreement, the company will set up an export-oriented industrial unit on five acres of land at the NSEZ, with an investment of around Tk80 crore. Zant Accessories plans to start commercial production in May 2027.

In the press release, BEZA said the proposed factory would use comparatively less water and electricity and would not require gas. The authority said the project would be export-oriented and in line with environment-friendly industrial development.

Besides polyurethane and polyethylene foam, the factory will also produce recycled foam, mattresses, pillows, comforters and shoe insoles. These products are mainly used in the furniture, home textile, footwear, automobile and packaging industries and are intended for export.

About 90% of the raw materials required for production will be imported from China, South Korea, the United Arab Emirates and Malaysia, according to the company. Zant Accessories Limited currently operates another factory at the Karnaphuli Export Processing Zone.

Saleh Ahmed, executive member (investment development) of BEZA, said the investment by Zant Accessories Limited at the NSEZ was a positive example of export-oriented industrial growth. "Such projects could encourage more local and foreign investors to invest in the zone," he said.

Zant Accessories Limited said the project would focus on sustainable production, environmental protection and skill development. The company also said it expects the project to contribute to foreign exchange earnings by maintaining international production standards.

The land lease agreement was signed on behalf of BEZA by Executive Member (Investment Development) Saleh Ahmed, while Zant Accessories Limited was represented by its Chairman Md Tofazzal Hossain.

According to BEZA, around 17 industrial units are currently operating at the NSEZ, while another 24 units are under construction. The zone is being developed with industrial facilities alongside urban services, infrastructure and sustainable utility systems.