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To retain forex reserves and to boost garment value addition, the textile millers of the country requested a temporary halt on the import of cotton yarn used in readymade garment (RMG) industry. In a letter to the Bangladesh Bank governor on April 3, Bangladesh Textile Mills Association (BTMA) President Mohammad …
Read More »2 vessels of Japan Maritime Self-Defense Force arrive at Chattogram Port
Two vessels, JS URAGA (Mine Sweeper Tender) and JS AWAJI (Mine Sweeper Ocean) of the Japan Maritime Self-Defense Force (JMSDF) arrived at Chattogram Port on Sunday for a goodwill port visit. They will stay in Chattogram till 11 April 2023. Captain NAKAI Eiichi, Commander, Minesweeper Division One, and his officers …
Read More »EDF loan ceiling reset as per IMF condition
Bangladesh Bank (BB) has reset the ceiling of the loans in US dollars from the Export Development Fund (EDF) to manufacturers and exporters for input procurements. The central bank took the decision implementing the guidelines of the International Monetary Fund (IMF) with a view to stopping a further fall in …
Read More »USA tops wage earners remittance source
The USA remains the top remittance-earning source for Bangladesh for the first eight months of the current fiscal year. Expatriates sent $2497.2 million from the America from July 2022 to February 2023, according to Bangladesh Bank. The expatriates sent $298.7 million in January and $231.84 million in February, according to …
Read More »BB reduces EDF loan ceiling for exporters
The Bangladesh Bank on Sunday reduced ceiling on the US dollar loans from its Export Development Fund to manufacturers and exporters by $5 million with the aim of lowering pressure on reserves. The central bank issued a circular in this regard on Sunday. According to the circular, the ceiling has …
Read More »Govt forms RMG wage board
The government on Sunday formed minimum wage board to review the wages of the readymade garment workers through appointment of owners’ and workers’ representatives of the RMG sector to the board. The government took the initiative to review the minimum monthly wages of workers and employees five years after the …
Read More »Export competitiveness project still in slow lane after 6 years
The commerce ministry’s Export Competitiveness for Jobs (EC4J) project, which aims to expand Bangladesh’s export basket, has once again failed to meet its deadline and become costlier due to slow implementation. The Tk 941 crore project has seen only 25 per cent progress following its previous six-year completion schedule, according …
Read More »Export competitiveness project still in slow lane after 6 years
The commerce ministry’s Export Competitiveness for Jobs (EC4J) project, which aims to expand Bangladesh’s export basket, has once again failed to meet its deadline and become costlier due to slow implementation. The Tk 941 crore project has seen only 25 per cent progress following its previous six-year completion schedule, according …
Read More »Soybean oil remains dearer though global prices slump
Although soybean oil prices have dropped in the international market, consumers in Bangladesh are yet to reap the benefit of this reduction as domestic prices remain the same. Globally, soybean oil was sold at $1,236 per tonne in the January-March period of the current calendar year, down 26 per cent …
Read More »Handloom clothing traders, weavers worried by poor demand
Sales of handloom clothing, such as saris and lungis, usually peak during the shopping season centring Eid-ul-Fitr, the biggest religious festival for Muslims in Bangladesh. However, weavers and traders of handloom clothing in Pabna and Sirajganj, the two biggest producing regions, are been left disappointed by poor demand this year. …
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