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Despite available orders, lower prices pressure RMG factories

Despite available orders, lower prices pressure RMG factories

Despite available orders, lower prices pressure RMG factoriesApparel exporters said currently almost all the buyers are offering orders but at very low prices – sometimes five to 15 percent lower than the price normally offeredAlthough apparel manufacturers are receiving orders from buyers, as lockdowns in most western cities have been relaxed, the low prices offered for their products are barring them from respite.During March to May this year, almost every buyer cancelled their orders, except a few well-reputed retailers like the Swedish company H&M. Now, shrinking prices are worsening...

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Aug 7
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Lifesaver icddr,b now desperately seeks donations

Lifesaver icddr,b now desperately seeks donations

Lifesaver icddr,b now desperately seeks donationsHow did an organisation that once was in no shortage of funds and had saved millions of lives with one single innovation – oral rehydration therapy – has fallen in such a state?When the International Centre for Diarrhoeal Disease Research, Bangladesh (icddr,b) was set up in the shadow of the cold war in the 1960s as part of America's bid to contain the spread of communism, it was awash with money. Originally, a social venture of the South-East Asia Treaty Organisation (SEATO), the China containment military alliance similar to the NATO block,...

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Aug 7
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Middle-east jobs: Rolling up the welcome mat

Middle-east jobs: Rolling up the welcome mat

Middle-east jobs: Rolling up the welcome matThat day of reckoning has arrived in 2020 and the pandemic has only quickened this transition. There is no chance that these jobs will come back, even after the pandemic is overSweating in his white Toyota Camry parked in the shade of an acacia tree in Abu Dhabi, Zakir Hossain could feel that 2030 has arrived in 2020.He had no luck on Sunday, what should have been a normal working day. Only four passengers had travelled in his taxi and it was already a hot and dry afternoon in the capital of the United Arab Emirates, he told us over the...

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Aug 4
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Blast in police station: Police rule out militant link

Blast in police station: Police rule out militant link

Blast in police station: Police rule out militant linkExplosion occurred at Pallabi Police Station in the capital on WednesdayPolice have ruled out any militant involvement in Wednesday's in the capital.Investigators and Bomb Disposal Unit officials said the bomb was not similar to those used by militants in recent years.Home Minister Asaduzzaman Khan Kamal also said there was no connection between extremist outfits and the explosion.Just around a week ago, on last Friday and Saturday, an improvised explosive device (IED) went off in Paltan, and a grenade-like object was found at Gulistan...

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Jul 29
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Remdesivir saved the day for pharma industry

Remdesivir saved the day for pharma industry

Remdesivir saved the day for pharma industryBeximco that made the remdesivir first in the country has already exported around 50,000 vials that worth nearly $3 million to at least six countriesOver the four decades of its journey, Bangladesh's pharmaceutical sector has evolved as a strong industry that is capable of meeting 98 percent of local demand that amounted to around $3 billion in 2019.Bangladesh is now the only least-developed country among 47 nations that has a well-developed pharmaceutical sector that can produce medicines for cancer diseases and biological products such as...

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Jul 27
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Garment workers to graduates: Bangladeshi women aim to shake up textile sector

Garment workers to graduates: Bangladeshi women aim to shake up textile sector

Garment workers to graduates: Bangladeshi women aim to shake up textile sectorBangladesh is the world's second largest supplier of clothes to Western countries after China, and relies on the garment industry for more than 80 percent of exports and four million jobsFive years ago, Sadeka Begum was working 12-hour shifts in a garment factory as the main earner for her family in Bangladesh.Today the 23-year-old is one of the first graduates of a special university programme that aims to inspire female workers to become leaders and boost women's rights across industries.Begum now interns for...

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Jul 27
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Flood pours cold water on economic recovery

Flood pours cold water on economic recovery

Flood pours cold water on economic recoveryEconomists fear flood-hit areas will take more time to recover from coronavirus shockAt a time when the government is pinning its hopes on the agriculture sector to ease the recovery of the economy from the coronavirus devastation, back to back floods have emerged as a major impediment to that process.According to the Flood Forecasting and Warning Centre, 26 districts have already been affected by floods so far this year, impacting the livelihoods of 30 lakh people.Bogura farm worker Rostam Ali is one among them. Already severely affected by two...

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Jul 24
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Apparel orders pour in from US, EU

Apparel orders pour in from US, EU

Apparel orders pour in from US, EUPPE production has helped mitigate some of the pandemic's impact on the textile and apparel sectorSourcing from Bangladesh began to recover last month following an influx of orders from the European Union and United States.According to a survey by supply chain compliance solutions provider QIMA, inspection and audit demands for the country increased 49 percent year-on-year in June.South Asia could also see more American business as almost 95 percent of US-based respondents of the survey said they had plans to change suppliers, with 30 percent opting for...

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Jul 19
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Pathao Cofounder Fahim’s assistant charged with his murder

Pathao Cofounder Fahim’s assistant charged with his murder

Pathao Cofounder Fahim’s assistant charged with his murderPersonal assistant of Pathao Cofounder Fahim Saleh, Tyrese Devon Haspil, was charged with second-degree murder in the gruesome execution inside the victim's $2 million Lower East Side condo. The 21-year-old assistant — caught embezzling $90,000 from his boss — answered an offer of amnesty with a Taser, a knife and an electrical saw, killing and then dismembering the man, sources said on Friday, report New York Daily News.  The global entrepreneur had fired his underling — and also offered him a chance to make restitution and avoid...

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Jul 18
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One arrested over Pathao Cofounder Fahim Saleh murder

One arrested over Pathao Cofounder Fahim Saleh murder

One arrested over Pathao Cofounder Fahim Saleh murderThe suspect is expected to be charged in the grisly killing Highlights: New York Police have arrested the personal assistant of Pathao Cofounder Fahim Saleh, who was found decapitated in his apartment in Manhattan earlier on Tuesday, as a suspect of the gruesome killing."The suspect is expected to be charged in the grisly killing," reports the New York Times quoting the briefing of two investigation officials. The 21 years old personal assistant is Tyrese Devon Haspil. He is expected to be charged in a criminal complaint with second...

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Jul 17
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Bangladesh spent 3.4 times more on debt repayment than health in 2019

Bangladesh spent 3.4 times more on debt repayment than health in 2019

Bangladesh spent 3.4 times more on debt repayment than health in 2019Bangladesh’s spending on debt service payments was also higher than that on social protectionIn 2019, Bangladesh spent 14.60 percent of the total government revenue on repayments of debt services, while the country spent only 4.30 percent on the health sector.Bangladesh's spending on debt service payments was also higher than that on social protection (11.96 percent). Against the backdrop that the whole world is passing through a dire situation due to the Covid-19 outbreak, leaders of the G20, IMF, UN, World Bank, and...

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Jul 16
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Bangladesh to be 25th most populated country by 2100: Study

Bangladesh to be 25th most populated country by 2100: Study

Bangladesh to be 25th most populated country by 2100: StudyAll South Asian countries, except Pakistan, will face a decline in population by 2100Bangladesh will be the 25th most populated country by 2100, with 81 million people, according to research by the University of Washington.It will lose 48.2 percent of its population from 157 million in 2017. This decline is the highest in South Asia.India will be the world's most populated country in 2100 with 1.09 billion people, the study said.Currently, India has 1.3 billion people – second only to China (1.4bn). It is followed by: Nigeria...

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Jul 15
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Arrested sex trafficking gang-leader owns four hotels in Dubai: CID

Arrested sex trafficking gang-leader owns four hotels in Dubai: CID

Arrested sex trafficking gang-leader owns four hotels in Dubai: CIDOver the course of the last eight years, the gang forced hundreds of young women into prostitution in Dubai after trafficking them using tourist visasThe Criminal Investigation Department (CID) of police has arrested the alleged gang-leader of a sex trafficking racket which forced hundreds of girls from Bangladesh into prostitution in the United Arab Emirates (UAE).Azam Khan, the alleged mastermind of the gang, owns four hotels in Dubai – Hotel Fortune Royal, Fortune Grand Hotel, City Tower Hotel, and Fortune Pearl Hotel and...

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Jul 12
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Zoom meetings with zooming expenses

Zoom meetings with zooming expenses

Zoom meetings with zooming expensesGovernment officials attending online workshops have already collected a bill of over Tk1.38 crore in cash in lieu of stationery itemsOne would expect that online virtual meetings and workshops would cost less to run than real events with lots of expenses, but it appears that some government virtual meetings are as expensive as ever.At a critical time when the government is struggling to handle an unprecedented pandemic with an inadequate health infrastructure and an economy badly hit by Covid-19, online workshops of the Implementation Monitoring and...

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Jul 11
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Borrowers, banks sweat over foreign loan payments

Borrowers, banks sweat over foreign loan payments

Borrowers, banks sweat over foreign loan paymentsMany foreign loan recipients have already sought the deferred repayment facility from the local banks as they are going through cash flow constraintsAlthough borrowers – with financial difficulty at this time of Covid-19 – have got deferment on loan repayments from local private banks, they are yet to have such a breather from foreign lenders, putting them under strain.Bigger trouble looms for the banks that lent to them from their offshore banking units (OBU) by borrowing overseas funds – with no response from the foreign lenders over a...

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Jul 10
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Hunt for a living

Hunt for a living

Hunt for a livingSpending time with families in villages does not bring any joy for them now. With chances of getting back to previous jobs – be it in Dhaka or in Kuwait – fading, they are worried about their living, their futureVillages are now more vibrant than ever.Rural bazaars are crowded, tea-stalls are filled with customers, many of whom do not stay in villages this long in any given time.They are workers in motor workshops, or shopping malls or restaurants. They are owners of small businesses – perhaps a road-side tea-stall or a hair salon. They were doing whatever they could for a...

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Jul 9
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Italy bans entry from Bangladesh till October 5

Italy bans entry from Bangladesh till October 5

Italy bans entry from Bangladesh till October 5The move came a day after 125 Bangladeshis were barred from disembarking from plane at an Italy airportBangladeshi citizens or passengers from Bangladesh will not be allowed to enter Italy till October 5 amid fears of coronavirus spread.Italy's Ministry of Health already issued a notice to airmen (NOTAM) regarding this on Thursday. According to the NOTAM, no flight from Bangladesh will be allowed to enter Italy. No airlines can bring passengers from Covid-19-hit country due to the risk of further Covid-19 spread. Passengers who came from...

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Jul 9
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96% of Covid-19 patients recover in Beacon pharma’s Favipira trial

96% of Covid-19 patients recover in Beacon pharma’s Favipira trial

96% of Covid-19 patients recover in Beacon pharma’s Favipira trialForty-eight percent of Covid-19 patients recovered – or tested negative – four days after taking Favipira, and 96 percent did so after 10 daysFavipira double-blind trialA clinical trial of Beacon Pharmaceuticals' Favipira tablet, to treat Covid-19 patients, has yielded a 96 percent success rate.     Associate Professor of the medicine department of Dhaka Medical College Hospital Syed Ghulam Mogni Mowla announced the trial results at a seminar at the Westin Hotel in the capital on Wednesday.Beacon Pharmaceutical arranged the...

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Jul 8
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Bangladesh-India trade relations under strain

Bangladesh-India trade relations under strain

Bangladesh-India trade relations under strainTrade with India resumed on Sunday– four days after a strike called by Bangladeshi businessmenBilateral trade between Bangladesh and India has run into a quagmire of late, especially following the novel coronavirus outbreak in Bangladesh in March this year.From March until the first week of June, India suspended all trade activities with Bangladesh through land ports, which contributed to a wider trade gap between the two neighbouring countries.According to the Bangladesh Bank's data, the bilateral trade volume between Bangladesh and India...

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Jul 5
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Kuwait manpower authority official, politician jailed over ties with Kazi Papul 

Kuwait manpower authority official, politician jailed over ties with Kazi Papul 

Kuwait manpower authority official, politician jailed over ties with Kazi Papul An official working at Kuwait Public Authority for Manpower and a previous parliamentary candidate have been sentenced to 21 days in prison for their connection with Bangladeshi lawmaker Mohammad Shahid Islam, widely known as Kazi Papul.According to local Al Qabas newspaper, their case is still under review by the public prosecutor and they are awaiting trial. The public prosecutor's office is awaiting financial documents that prove payment was made to Shahid Islam.However, Kazi Papul claimed he is "clean as...

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Jul 2
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H&M wins trust of Bangladeshi apparel exporters

H&M wins trust of Bangladeshi apparel exporters

H&M wins trust of Bangladeshi apparel exportersThe Swedish company is the world’s second-biggest fashion retailer but the largest for Bangladesh in terms of the volume of readymade garments sourced from hereSwedish fashion retail giant Hennes & Mauritz (H&M) continues to place a significant number of orders with their apparel supply chain partners in Bangladesh despite its losses for the first time in decades due to the Covid-19 pandemic.The group intends to increase its commitment in the country, as lockdown measures imposed in Europe and the USA – inthe wake of the global pandemic –...

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Jul 1
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Apparel exports may have dropped $6bn in FY20

Apparel exports may have dropped $6bn in FY20

Apparel exports may have dropped $6bn in FY20“We are not sure about how much time it will take to return to normalcy similar to the previous years’ market,” says Ahsan H Mansur, executive director of Bangladesh Policy Research InstituteExport earnings from the coronavirus-hit apparel sector might decline by $6 billion to around $28 billion in the fiscal year 2019-20 from $34 billion a year before.In this way, the country's largest export earning sector would see a $10 billion shortfall in achieving its target of over $38 billion for the just-concluded fiscal year. The readymade garment...

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Jul 1
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'It's a miracle'...a passenger rescued alive from sunken launch after 12 hours

'It's a miracle'...a passenger rescued alive from sunken launch after 12 hours

'It's a miracle'...a passenger rescued alive from sunken launch after 12 hoursFire Service and Civil Defence has claimed to have rescued a man from the sunken MV Rishan Morning Bird after 13 hours it capsized colliding with another vessel in Buriganga.Confirming the matter to The Business Standard, Fire Service Director General (DG) Brig Gen Md Sazzad Hussain said, "It's a miracle. He might have been stuck in a room with enough oxygen, that's the only scientific reason behind his survival.""Our divers found him alive while lifting up the sunken launch with air blower. Later he was sent to...

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Jun 29
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Normalcy will return in export once Covid-19 vaccine comes: PM

Normalcy will return in export once Covid-19 vaccine comes: PM

Normalcy will return in export once Covid-19 vaccine comes: PMSingle-month shipments in May declined by about 62 percent to $1.4 billion due to Covid-19 falloutPrime Minister Sheikh Hasina has said that Bangladesh's export sector will return to its normal state if a coronavirus vaccine comes here between October and November.She was speaking while taking part in the general discussion on the budget on Monday as leader of the House at the eighth session of the eleventh parliament.She said that the vaccine is expected to come to the market in October- November next. "If so, the lifestyle of...

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Jun 29
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Govt plans to privatise jute mills, axe 25K workers

Govt plans to privatise jute mills, axe 25K workers

Govt plans to privatise jute mills, axe 25K workersAfter liquidation, the mills will be run under private-public partnership, joint venture, govt-controlled lease modelThe government has decided to send the existing 24,886 workers of 25 jute mills into retirement through golden handshake after liquidation.The mills under the state-owned Bangladesh Jute Mills Corporation (BJMC), which have been incurring losses for years, would be either modernised or privatised, said Textiles and Jute Minister Golam Dastagir Gazi on Sunday in an online briefing on review of activities of the BJMC."The...

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Jun 28
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