Bangladesh Garment Manufacturers and Exporters Association (BGMEA) President Khandoker Rafiqul Islam today sought soft loan from the government to recoup losses due to operational disruptions of enterprises during student-mass uprising, general holidays and severe flood.
The loan assistance was sought as a BGMEA delegation led by its president met Finance and Commerce Adviser to the interim government Dr Salehuddin Ahmed at his ERD office.
Emerging from the meeting, the BGMEA president said they sought such soft loan fac...
The World Trade Organization (WTO) in its latest data has unveiled that Bangladesh exported $38.4 billion worth of clothing in 2023, making up 7.4% of the global market. However, according to the new data released on Thursday (1 August) through the WTO's interactive tool "World Trade Statistics 2023 – Key Insights and Trends", this figure is nearly $9 billion less than the $47.4 billion reported by the Export Promotion Bureau (EPB).
In May, Bangladesh found itself embroiled in a numerical puzzle when the Bangladesh Bank identified discrepancies in the co...
The workers of Beka Garments and Textiles of Adamji EPZ are protesting by blocking the road, demanding wages in the area of Chasara Narayanganj. On Wednesday (April 27) afternoon, they blocked one side of Bangabandhu Road in front of Narayanganj Press Club.
During this period, the workers demanded that their dues be explained in time. The workers said that at least 8 to 900 workers work in Beka Garments and Textiles, located in the Adamji EPZ area of Siddirganj. Some of them have two months' salary pending, and some have three months' salary pending.
Beka Garments and Texti...
Bangladesh, a developing and populous country, has just lately begun preparing for COVID-19. The first COVID-19 patients were revealed on March 8, 2020. Those most vulnerable and disadvantaged in our society are most affected by this condition. RMG employees in Bangladesh are one example. Due to their lack of education or incompetence, unskilled employees with weak negotiating power are especially prone to exploitation. Among this well-known susceptible group, Because the number of COVID-19 infections in Bangladesh is growing every day, the Bangladeshi government has ordered a nationwide lockdown starting March 26, 2020. The lockout prompted the closure of the apparel company. The clothing owner dismisses staff...
Commerce Minister Tofail Ahmed today said the government will not extend the staying period of Accord and Alliance after their tenures are expired.
Staying period of Accord, a platform of mainly European retailers, ends today (May 31) while
tenure of Alliance, another platform of North American brands, will come to an end in July 2018, reports BSS.
“We’ll not extend their staying period in Bangladesh. After the end of their tenures, they will get six months to wrap up their operations,” said Tofail ...
Fast fashion is at risk of hitting a speed bump if a looming crisis sweeps through Bangladesh’s banking sector.
Financial institutions in the south Asian nation face a credit crunch following mass deposit withdrawals in March and soaring levels of non-performing loans.
Analysts and investors fear a full-blown crisis could spill over into Bangladesh’s strongest link to the global economy — the production of textiles and ready-made garments for fast fashion brands and retailers such as H&M, American Eagle Outfitters, Zara, Walmart and Target.
“Although the loan book composition across commercial banks in Bangladesh tends to vary
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