Biz World

Industry Desk: South Korea with its $10.53 billion apparel market can be a preferred export destination for Bangladesh and the apparel sector expects to hit the $1 billion mark export to Korea in the current fiscal year.South Korea currently sources 34% of its apparel items from China, but due to…

Staff Correspondent: Bangladesh is performing well in three important indicators of the economy amidst the global financial crisis. The latest data of different economic indicators show that despite the global crisis, Bangladesh is turning around in export of garment items.In the first five months of this calendar year, Bangladesh’s garment…

Industry Desk: Bangladesh continues to persist as the top denim exporter to the USA. The recently released statistics by OTEXA showed that in H1 (January-June) of 2022 Bangladesh exported $445.50 million worth of apparel items. Witnessing a 57% growth in the period.OTEXA data showed that overall the USA imported $2…

Situation improves over 50 pc Industry Desk: Country’s RMG exports to the United States in January-May of 2022 grew by 59.06 per cent to $4.11 billion from $2.56 billion in the same period of 2021, according to the US Department of Commerce’s Office of Textiles and Apparel data.After the Covid…

Signs 4 instruments Diplomatic Correspondent: Dhaka and Beijing yesterday signed four MoUs and agreements on different cooperation after visiting Chinese State Councilor and Foreign Minister Wang Yi held an hour-long bilateral meeting with his Bangladesh counterpart Dr AK Abdul Momen.Cooperation on infrastructure development, disaster management, cultural exchange and marine science…

Current account deficit also hits record $18.69 billion increasing pressure on foreign currency reserves Staff Correspondent: Bangladesh’s trade deficit has widened to record $33.24 billion in 2021-22 fiscal year as exports failed to match the huge import bills despite a rise.Current account deficit also hit a record $18.69 billion, rising…

Staff Correspondent: The government should take specific plans to identify exact areas in the sea with resources to tap the possibilities of the blue economy by attracting investors in this sector.Speakers came up with the remarks in a virtual discussion titled Opportunities in Blue Economy of Bangladesh organised by Chattogram…

Sustainable Development Staff Correspondent: State Minister for Planning Dr Shamsul Alam has proposed to establish a separate ministry for the blue economy or a separate division under the Ministry of Science and Technology.He emphasized on the contribution of the blue economy to Bangladesh’s future sustainable development endeavors.While speaking as the…

Reserve heist Industry Desk: A Philippines court has dismissed a defamation case filed by Rizal Commercial Banking Corp (RCBC) against Bangladesh Bank for linking it to the biggest cyber heist in the world.The Philippines court dismissed the case on June 30 and Bangladesh Bank received the documents on Wednesday, said…