1,500 factories to be inspected by August
About 1,500 factories in Bangladesh are on track to be inspected by the end of August as part of a five-year safety pact signed by more than 150 clothing brands and 20 countries, according to organizers of the agreement.
In a conference call Monday, organizers said inspections were performed on 10 factories last November and December, and by the end of March, 250 inspections will have been completed. About 250 inspections are expected to be conducted each month. The inspections have started with the high-risk buildings that have more than five floors, reports AP.
Exports up 6pc in Feb on garment sales
Bangladesh's exports rose 6.36 percent in February from a year earlier to $2.39 billion, boosted by stronger garment sales, the Export Promotion Bureau said on Monday, as political turmoil eased after an election in January.
In the first eight months of the financial year beginning July 1, exports totalled $19.83 billion, up nearly 14 percent from the same period a year ago, the export bureau said.
Garment exports rose 9 percent on year to $1.96 billion in February and were up 16.7 percent to $16.7 billion for the eight months.
Garmen...
Garment exports rose 9 percent on year to $1.96 billion in February and were up 16.7 percent to $16.7 billion for the eight months.
Garmen...
Tk 10 bank account now for street children
After introducing various types of banking services for farmers, sharecroppers and some other underprivileged people, Bangladesh Bank (BB) has now extended its generous initiatives to bring street urchins and child workers under institutional financial support.
The central bank on Sunday directed all banks to allow street children and child workers open bank accounts by depositing Taka 10 only, which the banks are now offering to the farmers and others who cannot afford normal banking services.
American Apparel stirs up controversy…again
American Apparel—the controversial retailer known for its outspoken CEO and its provocative advertisements—has unveiled its latest campaign. The ad features a topless model of South Asian descent, with the words ‘MADE IN BANGLADESH’ boldly printed across her chest and a detailed account of her background.
“[Maks] is a merchandiser who has been with American Apparel since 2010. Born in Dhaka, the capitol of Bangladesh, Maks vividly remembers attending mosque as a child alongside her conservative Muslim parents. At age four, her family made a life changing move to Marina Del Rey, California. Although she suddenly found herself a world away from Dhaka, she continued following her parent’s religious traditions and sustained her Is...
Another Indian proposal to open direct sea routes
India has asked Bangladesh to open direct sea routes between the two countries to boost bilateral trade, which is being hampered by congestion at the land customs stations on both sides. India aims to increase cargo to Bangladesh.
According to sources, the Department of Commerce has asked Directorate General of Shipping to work out a mechanism on how the plan could work out. To initiate the process, ships have to be certified by both the sides so that they can operate in each other’s territorial waters, a senior commerce department official told Business Standard.
“We have asked DG Shipping to work out a protocol with Bangladesh on our regulatory requirements. We have to certify their ships and they will have to do the same...
Inflation cools in February, could climb again
Bangladesh's annual inflation cooled in February for the first time since November, the Statistics Bureau said on Thursday, as political turmoil eased after an election in January, but it could go up again once electricity tariffs are raised.
Inflation eased to 7.44 percent in February from 7.50 percent a month earlier, as non-food prices fell.
Food prices were 8.84 percent higher than a year earlier in February, a touch higher than January's 8.81 percent rise.
In contr...
Food prices were 8.84 percent higher than a year earlier in February, a touch higher than January's 8.81 percent rise.
In contr...
