3:54 pm - Wednesday March 26, 4121
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Economy

Fast fashion industry at risk from bank trouble

rmgbd
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

Azim Group Global Steel launched

AMI_6898
Azim Group, a multi-national garments holding company based in Bangladesh, recently has launched an enterprise- ‘Global Steel and Engineering Limited’ at Shailabil, Paruhala, Dhamrai, Dhaka. With the launch of the enterprise, Azim group sets its footprint into the steel industry. Azim Group is one of the pioneers in garments industry of Bangladesh. It has been exporting readymade garments to various markets of the world including USA, Europe, South America, Russia, Japan, China and Australia. AMI_6898To step into anothe...

NBR to organize ‘Halkhata’ on April 14

bangladesh

 National Board of Revenue (NBR) will organise 'Halkhata Day' marking Pahela Baishakh, the first day of Bengali New Year.

"As April 14 is a public holiday, the NBR will begin its Bengali New Year celebration programme the next day (April 15)," NBR Chairman Mosharraf Hossain Bhuiyan told journalists at his office here on Tuesday, reports BSS. bangladeshNBR is going to organize 'Halkhata Day' for the second time as it first observed day last...

Capital market to be in good position: Muhith

muhith
Finance Minister AMA Muhith today said the country’s capital market will go in a good position a few years and play a vital role to expedite investment by arranging necessary financing for the entrepreneurs, reports BSS. “There are no scopes for large ups and downs in the capital market now as the government is muhithworking to develop the market. We have taken different reforms initiatives to take the capital market in a stable position,” he said while addressing a dividend handover ceremony of the Investment Corporation of B...

Spl facilities for local auto manufacturers, assembles

NBR1
The National Board of Revenue (NBR) has announced to give local automobile manufacturers and assemblers special facilities in the upcoming budget for fiscal year 2018-19 (FY19). “NBR will give the local automobile manufacturers and assemblers special facilities as our main target is to discourage imports of automobiles to create jobs in the country,” said NBR chairman Md Mosharraf Hossain Bhuiyan while speaking at a pre-budget meeting with Bangladesh Reconditioned Vehicles Importers and Dealers Association (BARVIDA) here today, reports BSS. NBR1

Forex reserves rise to $33.2 b by Dec-end

forex
Bangladesh's foreign exchange reserves rose to $33.23 billion by the end of December, $630 million more than the previous month, the central bank said on Monday. The reserves were up nearly 3.4 percent from a year earlier, and are sufficient to cover about 10 months' worth of imports for the country of 160 million people. forexSteady garment exports and remittances from Bangladeshis working overseas - the key drivers of the country's more-than $250 billion economy - have helped foreign exchange reserves grow steadily in recen...