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‘Make value-added apparels’ – Korean envoy

To get more orders from global markets, Bangladeshi apparel exporters should concentrate on manufacturing more value added products, South Korean envoy to Bangladesh said. Bangladeshi textile and apparel industry should move beyond only cutting and stitching and add more value-added products, Ambassador Lee Yun-Young said, while at the inauguration of the Textech trade fair. fashionHe added that it’s time for the Bangladeshi garment exporting industry to move to a new phase and South Korean companies would be ready to support the upgrades. ...

Bangladesh assigned inaugural international rating by Fitch

Fitch Ratings has for the first time assigned international ratings to the Bangladesh sovereign and invites market participants to join a teleconference on Bangladesh’s rating outlook at 4pm HK/Singapore (2pm Dhaka) on Wednesday, 3 September 2014. bbThe call will be hosted by Thomas Rookmaaker, Director in Fitch’s Asia-Pacific Sovereigns Group in Hong Kong. The agency assigned Bangladesh Long-Term Foreign and Local Currency Issuer Default Ratings (IDRs) of ‘BB-‘. The Outlooks on the Long-Term IDRs are Stable. For more details, please refer to the rating action commen...

How do you safely break up an ‘old lady’?

What’s the best way to dispose of an “old lady”? Should she be dumped on a beach and broken up by rough hands in terrible conditions or should she be taken in a more sedate fashion to a reputable place to be dismantled in an orderly fashion? The question is being debated in the shipping industry where an “old lady” is the usual term for a vessel which has come to the end of its days. ship breakingOne of the world’s biggest cargo companies has just decided to stop sending its ships to be broken up on Bangladesh’s beaches where ultr...

Fitch rates Bangladesh ‘BB-‘; Outlook stable

(The following statement was released by the rating agency) Fitch Ratings has assigned Bangladesh Long-Term Foreign and Local Currency Issuer Default Ratings (IDRs) of 'BB-'. The Outlooks on the Long-Term IDRs are Stable. Fitch has also assigned a Short-Term Foreign Currency IDR of 'B' and a Country Ceiling of 'BB-'. KEY RATING DRIVERS Bangladesh's ratings reflect a balance between high, stable real GDP growth and strong external balances, and weak structural features indicating significant political and banking sector risk. Bangladesh Bank

NBR selects 50 for coveted ‘Tax Card’

The National Board of Revenue (NBR) has preliminarily selected 50 names for the prestigious ‘Tax Card’ for 2012-13 and 2013-14 fiscal years. Of the 50, according to sources at the NBR, 40 names will finally be selected for the Tax Card to honour top taxpayers in different sectors, including the service and manufacturing one, for their contributions to the national exchequer, reports UNB. “This will support and help them reduce hassles in tax filing. The Tax Card is also aimed at encouraging other taxpayers to regularly and properly pay taxes,” an NBR official told UNB. nb... </div><!-- .entry-content --> </article><!-- #post-## --> <div class=

Footwear industry is making tracks

Blue Ocean Footwear’s four-story factory, designed by noted Bangladeshi architect Bashirul Haq, an expert on building safety standards, is located close to Apex’s factory site in Gazipur. It has 4,000 people producing close to 2 million pairs of women’s shoes annually for customers like Esprit and Germany’s Tamaris. The workers are supervised by a team of 65 Chinese technicians who stay on the factory campus but don’t speak either English or Bengali. shoeInstead, Bangladeshi workers are being taught basic Chinese, says Sam Yu, Blue Ocean’s managing di...
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