Garment makers seek full waiver of source tax Garment makers, the country’s main export earners, yesterday sought full waiver of source tax on export receipts for three years as a helping hand as they look to hit $50 billion in shipments by 2021. At present, the tax authority collects 0.70 percent tax on total export […]
RMG workers’ database not ready even after 5yrs The Bangladesh Garment Manufacturers and Exporters Association is yet to complete the central biometric database of garment workers five years after taking up the initiative. Primarily, the non-cooperation of the factory owners is to blame for the delay, said BGMEA insiders. Moreover, the owners are taking a […]
China’s ZTE Slams U.S. Ban, Says Company’s Survival at Risk HONG KONG — China’s ZTE Corp said on Friday that a U.S. ban on selling parts and software to the company was unfair and threatens its survival, and the mobile phone and telecommunications equipment maker vowed to safeguard its interests through all legal means. The […]
Project launched for RMG workers’ financial inclusion A MetLife Foundation-funded Swisscontact project was launched at a Dhaka hotel on Thursday to ensure financial inclusion of 60,000 workers in the readymade garment sector. The 30-month “Sarathi” plans to bring the practice of salary disbursement through bank accounts at 30 factories by June 2020, says a statement. […]
Bangladesh lowest internet using country in Asia Pacific: study Bangladesh, along with Pakistan, has the lowest level of mobile internet penetration in the Asia Pacific region, according to a report of GSMA, the global trade body of mobile operators. Only 21 percent of the population of both Bangladesh and Pakistan have mobile internet connection — […]
$2.5b investment round the corner Super Petrochemical Pvt Ltd (SPPL), a concern of TK Group, and SK Group of South Korea plan to invest $2.5 billion jointly to establish a petrochemical complex and an LPG terminal in Moheshkhali. “We are planning to implement the project in phases,” said Mohammad Mustafa Haider, managing director of Super […]
Bangladesh, India, Bhutan, Sri Lanka need more WB funds India has made a strong pitch for increased lending by the World Bank and its affiliates for Bangladesh, India, Bhutan and Sri Lanka, in a meeting of the World Bank and International Monetary Fund held in Washington on Saturday. The combined gross domestic product of India, […]
Bangladesh still popular for low-cost apparel Bangladesh is still a lucrative destination for sourcing low-cost garment items, coming second to only China, according to the Global Sourcing Survey-2018 by the AsiaInspection, which provides inspection services to global brands. “Outside of China, India and Bangladesh are increasingly given preferences for textile sourcing due to being lower-cost […]
Wilmar-Adani to invest $350m in Mirsarai economic zone Singapore-based Wilmar and India’s Adani Group plan to invest $350 million in Bangladesh to establish an industrial park in the Mirsarai economic zone under a joint venture that will produce agro-based foods and allied products. Pua Seck Guan, chief operating officer of Wilmar International, a leading agribusiness […]
Online fund transfer to any bank from June Fund transfer to any Bangladeshi bank account through online banking will become possible from June, in a development that promises to be a great timesaver for bank customers. For that end, the central bank has asked all banks in the middle of February to connect their fund […]