The apparel orders from foreign buyers would decline by 30 percent owing to the turbulence prevailing in the country that is affecting the Bangladeshi garment industry, said Bangladesh Garment Manufacturers and Exporters’ Association (BGMEA) president Atiqul Islam, after a recent meeting with Labor and Employment Minister Khandker Mosharraf Hossain and foreign buyers in Dhaka.
Islam said foreign buyers have expressed concern over the present situation affecting the garment industry in Bangladesh, which is forcing them to shift their readymade garment orders to other countries, reports BSS.
Around 30 percent of apparel orders would decline owing to the political turmoil which is severely affecting the garment industry of the country, he adde...
Investors in emerging market companies are looking more closely at environmental, social or governance (ESG) issues before they buy as the Bangladesh factory collapse.
Cajoled by developed world governments and shocked by disasters, almost all emerging fund managers in a survey by UK development finance arm CDC to be published this week consider ESG to be integral to their investment strategy, and in many deals they regard it as a “fact of life”.
It is a sharp contrast to a few years ago, when emerging market investors saw sustainable strategies as an irritant imposed by worthy multilateral lenders, or “the dead hand of eco-fascism”, according to CDC’s ESG director Mark Eckstein.
Once the preserve of religious and ethically minded funds and the development finance arms of major...
The International Business Forum of Bangladesh (IBFB) and its President Hafizur Rahman urged Bangladesh Bank to take adequate financial measures to safeguard economy and business of the country during the ongoing volatile political situation.
In a recent proposal sent to the Governor of Bangladesh Bank, IBFB strongly suggested some special financial measures such as extending the deadline for CIB Reporting, rescheduling bank loans, reducing lending rate up to 10 per cent or below, bringing down the interest rate spread below 4.0 per cent etc. IBFB, as mentioned in the proposal, strongly believes that in a growing democratic country like Bangladesh peaceful and business friendly environment is a sine qua non for ensuring the development wheel rolling on through which trades and busine...
Bangladesh Bank (BB) will provide $ 25 million loan assistance to Standard Group to recover the losses in recent arson attacks on the group’s readymade garment (RMG) factory at Gazipur industrial belt.
The decision was taken at a multipartite meeting among BB officials, Standard Group management, CEOs of five commercial banks and BGMEA representatives at Bangladesh Bank Bhaban.
BB governor Atiur Rahman, BGMEA (Bangladesh Garment Manufacturers and Export...
To create economic opportunities for the people living along the Bangladesh –India border in Meghalaya, the Indian authority is keen to set up 22 more border ‘haats’ (markets).
Meghalaya Chief Minister Mukul Sangma said, we have sought for the establishment of 22 new border haats along the international border which would not only create economic opportunities, but would also cement bonds between the people living along the borders.
Meghalaya already has two border haats - one at Kalaichar in Meghalaya’s West Garo Hills district and Baliamari of Bangladesh’s Kurigram district, and another in Balat (in East Khasi Hills district) and Lauwaghar (Dalora) in Bangladesh’s Sunamganj district.
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The Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Bangladesh on November 27. On the same day the Executive Board also completed the third review under the Extended Credit Facility Arrangement (ECF) with Bangladesh, and approved $140.4 million disbursement, says an IMF press release.
Over the past two years, the Bangladesh economy has shown significant economic stabilization and progress in structural reforms, underpinned by the Fund-supported program. In that period, real GDP growth has averaged above 6 percent, while sustained garment exports, increasing public investment, and strong workers’ remittance inflows have supported demand and activity. Meanwhile, Bangladesh’s two...
