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Garment exports jump 15.15pc in July-March    

The exports of readymade garments from Bangladesh increased by 15.15 percent to US$ 18.052 billion during the first three quarters of the ongoing fiscal year 2013-14, as against exports of $15.676 billion made during the corresponding period of the previous fiscal, as per the latest data released by the Export Promotion Bureau (EPB). Segment-wise, woven apparel exports grew by 13.99 percent year-on-year to $9.221 billion during July-March 2013-14 period, whereas knitwear exports soared by 16.4 percent to $8.831 billion. rmgKnitwear and woven garments ...

Stability at risk without political inclusion: US    

The US continues to press for greater political inclusion in Bangladesh without which the Asian country’s stability will be at risk, a top Obama Administration official has said. “In Bangladesh, we continue to press for greater political inclusion, without which, a more stable and prosperous future is put at risk,” Assistant Secretary of State for South and Central Asia, Nisha Desai Biswal, said in her address at the prestigious Harvard University. nisha biswalAt the same time, she praised Bangladesh for its achievement in the socio ...

Govt must help apparel firms open shops in UK 

The Government should allow garment exporters to invest 5 to 10 percent of their export value for opening showrooms and outlets in the UK, which has a huge market for Bangladeshi clothing brands, said chairman of the newly formed trade body UK Bangladesh Catalysts of Commerce and Industry Ltd (UKBCCI) Iqbal Ahmed. Mr. Ahmed said this during a recent meeting of a 10-member delegation of UKBCCI with Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) president Kazi Akram Uddin Ahmed at the FBCCI office in Dhaka, reports the Daily Star. Workers on the floor of a garm...
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SoBs in Bangladesh: From cancer to pimple  

“IT TOOK us two years, but the greed kept us going,” Yusuf Munshi told police after they arrested him and his accomplice. Mr Munshi had tunnelled under a branch of Sonali Bank, Bangladesh’s biggest state-owned bank, in the town of Kishoreganj, and made off with five sacks of cash containing 164m taka ($2m). On social media, people advised the robbers that there is a less time-consuming way to get your hands on a pile of cash: befriend the bank manager. Bangladesh’s government banks are normally fleeced at street level during opening hours, in plain sight. In 2012, in the biggest of many banking scandals since the banks were nationalised 40 years before, Sonali Bank revealed that one of its branches in Dhaka had granted a particular firm almost 27 billion taka in loans on false premis...

Rising wages squeeze RMG makers in Bangladesh

Garment factory owners in Bangladesh are suffering from rising costs primarily due to the increased wages of labourers amid international calls for better working conditions after the RanaPlaza disaster. The owners nearly doubled wages and have less money for safety improvements at factories, as their profits are squeezed. In addition, a number of global retailers who source from those factories are not willing to share the rising costs, report agencies. The cost concerns come as Bangladesh’s garment export industry is facing stiff competition from other low-cost Asian countries such as India, Vietnam, Indonesia and Cambodia. Bangladesh-rmg-worker

Compensation fund far short of goal

Nearly a year after the collapse of a garment-factory complex in Bangladesh killed more than 1,100 workers, labor groups say global retailers still haven’t put up the funds needed to compensate the victims. A trust fund set up earlier this year by labor groups and clothing companies said it would raise $40 million to help survivors of the RanaPlaza disaster and the families of those who perished. So far, the fund has collected $15 million. [caption id="attachment_5725" align="alignleft" width="300"]bd fund
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