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IFC aims to ramp up operations in Bangladesh

A top regional official of IFC, a member of the World Bank Group, met the Bangladesh Bank governor saying the institution will ramp up its operations in the country to boost job creation and economic competitiveness. IFC-logoSerge Devieux, IFC Regional Director for South Asia, met central bank governor Dr Atiur Rahman this week to reaffirm IFC’s commitment towards building a momentum for rapid, inclusive, and sustained growth in the country, said a press release. “We’re working towards expanding job-creation opportunities, building critical infrastru...

Exports in 1st 10 months show moderate growth

Country’s exports to key destinations like Germany, the UK and France posted a modest growth in the first 10 months (July-April) of the current fiscal year (2013-14) compared to the same period in the last fiscal (2012-13). During the July-April of fiscal 2013-14, exports to Germany totalled $ 3,912.84 million, which was 15.87 percent of total export earnings for the 10-month period, reports UNB. export-importOf the amount, knitwear accounted for $ 2133.45 million, woven garments $ 1504.93 million and frozen shrimp $ 58.41 million...

Trade deficit narrows slightly

Bangladesh's trade deficit narrowed slightly in the first 10 months of the current fiscal year 2013-14 ending in June on the back of an increase in exports, said a central bank official Wednesday. The country's trade deficit in the first 10 months of the current fiscal year 2013-14 (July 2013-June 2014) slid by 0.46 percent to 5.89 billion US dollars compared to a year earlier, said the Bangladesh Bank (BB) official, reports Xinhua. call moneyThe official, who preferred to be unnamed, told Xinhua that Bangladesh import payment recorded 2...

GIZ, Huntsman to raise the bar for chemical management

Bangladesh’s textile industry is the nation’s largest export sector.Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), a German federal agency that promotes sustainable development, and Huntsman Textile Effects, a leading provider of high quality dyes and textiles chemicals, have signed a cooperation to raise industry standards in the management of chemicals at textile mills in Bangladesh. GIZ_6172The cooperation has been formalised with the signing of a Memorandum of Understanding between Huntsman Textile Effects and Promotion of ...

May exports up 7pc on garment sales

rmg Bangladesh's exports rose 7.22 percent in May from a year earlier to $2.7 billion, boosted by stronger clothing sales, the Export Promotion Bureau said on Sunday. In the first 11 months of this financial year, exports rose 12.56 percent to $27.37 billion from a year earlier. Garment exports surged nearly 15 percent to $22.2 billion in July-May. The garment industry, which supplies many Western brands such as Wal-Mart, Tesco and H&M, has been under the spotlight after a string of fatal factory accidents, including the collapse of a building hou...

Imports surge over 14 pct to $ 30 bln   

Bangladesh’s imports surged 14.24 percent to over 30 billion U.S. dollars in the first 10 months of the current 2013-14 fiscal year ending this month, a central bank official said recently. The Bangladesh Bank (BB) official said the settlement of letters of credit (LCs), generally known as actual imports, stood at 30,593.74 million U.S. dollars in July-April compared to 26,780. 77 million in the same period a year earlier. Import orders, officially known as fresh opening of import LCs, also increased by 11.65 percent in the first 10 months of the current fiscal year (July 2013-June 2014), he said quoting provisional BB data.
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