November exports rise 25pc on garment sales
The country’s exports rose 25 percent in November from a year earlier to $2.2 billion, boosted by stronger clothing sales, an export body said on Sunday, though political unrest ahead next month's election has severely hit manufacturing.
In the first five months of the financial year, beginning July 1, exports totaled $11.96 billion, up 18 percent on the same period a year ago, the Export Promotion Bureau said. Garments exports soared 21 percent to $9.65 billion for the five months.
[caption id="attachment_2090" align="alignleft" width="300"]![Workers sort clothes at a garment factory near the collapsed Rana Plaza...
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Inter-bank Transaction Matrix to oversee liquidity management
Bangladesh Bank will introduce a monitoring tool named Inter-bank Transaction Matrix from January 2014 to supervise liquidity management of banks and non-bank financial institutions.
To this end, the BB issued a circular to managing directors and chief executive officers of all scheduled banks and NBFIs saying that the central bank would give early warning signals to the crises institutions about their liquidity crisis by using the new tool.
The BB circular said, ‘Interconnectedness among the ban...
The BB circular said, ‘Interconnectedness among the ban...
Inward remittance shows uptrend in 1st 13 days of Dec
Country’s inward remittance during the first 13 days of the current month (till December 13) showed an encouraging sign totaling $ 573.06 million.
The remittance inflow last month (November) totaled $ 1051.10 million, according to the latest data provided by the Bangladesh Bank (BB).
The central bank data showed that some $ 14,461.14 million came as remittance in the last fiscal year (2012-13).
The BB data also showed that of the total remitted amount during the 13 days of the current...
The central bank data showed that some $ 14,461.14 million came as remittance in the last fiscal year (2012-13).
The BB data also showed that of the total remitted amount during the 13 days of the current...
Canada supports ILO initiative to improve RMG conditions
Canada has announced its support for a joint initiative with the International Labour Organization (ILO) entitled “Improving Working Conditions in the Ready-Made Garment Sector” in Bangladesh.
Canada’s support for this initiative is helping to ensure that Bangladesh is better equipped to provide safe and healthy employment for its people,” said Christian Paradis, Canda’s minister of international development and minister for La Francophonie.
“Stimulating sustainable economic growth is critical to breaking the cycle of poverty, increasing security and encouraging equality”, he said.
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Moody’s global base metals outlook remains stable
The outlook for the global base metals industry remains stable, said the Investors Service of Moody’s, an international credit rating agency, in a report released yesterday.
Average prices for aluminum, copper, nickel and zinc will remain near 2013 levels in the next 12 to 18 months, but will continue to show volatility, said the Moody’s report entitled “Slow Global Recovery Will Keep Base Metals Prices Range Bound.” Global demand for base metals, however, will grow modestly, and “recovery will be uneven,” Moody’s said, adding that Industrial production will remain the main driver of growth. Geologically, demand will grow at mid-single-digit rates in Asia, improve slowly in United States and Latin America, but remain sluggish...
Anguish in RMG sector exist almost whole of 2013
Due to the ongoing political impasse, the country’s RMG sector losses in billions of taka every day. Foreign apparel orders worth $3.96 lakh were cancelled while the exporters spent $3.08 lakh on air shipment during the first three days of the current month, according to the data collected by BGMEA’s research and development team.
The research unit collected data from 10 exporters to assess the overall losses caused by the blockade. Many small factory owners may go bankrupt due to failing shipment on time.
