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At the end of 2022, the European Union and European Parliament agreed to what will become the world’s first Carbon Border Adjustment Mechanism (CBAM). In simple terms, CBAM is a tariff on the import of carbon-intensive products. Initially, these products will include those that require a highly carbon-intensive manufacturing process – cement or fertiliser, for…
A business owner I know is 100 percent committed to sustainability and to doing the right thing by the planet. The same owner spent many years preparing to develop science-based targets (SBTs). All seemed to be going according to plan until they took a closer look at some of the targets. At that point, it…
Bangladesh made the highest amount of garment shipment in a single month in January riding on the rebounding global economy and revival of the export. In fact, January 2024 stands unique for its highest export turnover in a single month in the country’s history, according to Bangladesh Garment Manufacturers and Exporters Association (BGMEA). The country…
Bangladesh exported garments worth $4.49 billion in February 2024, one of the highest for any single month, undergoing a year-on-year growth of 13.93 percent, according to data from the Export Promotion Bureau (EPB). The garment export during the first two months of this year amounted to $9.47 billion, registering a 13.15 percent year-on-year growth. In…
Chinese textile and garment entrepreneurs are bullish about Bangladesh as the country cements its position as a top supplier of apparel items, evidenced from a healthy flow of orders from international clothing retailers and brands. On the back of higher demand for fabrics, yarns, chemicals, dyes, and capital machinery used in the textile and garment…
The United States International Trade Commission (USITC) is going to hold a hearing involving Bangladesh to see whether a recent rise in prices of garment items sourced from the country had anything to do with unhealthy competition. The USITC found out that the prices the US paid for each unit of Bangladeshi garments had recently…
The president of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) yesterday faced a barrage of questions from the United States International Trade Commission (USITC) during a hearing. The hearing came as part of the USITC’s investigation into the sudden rise in per unit import prices of garment items exported from Bangladesh, Cambodia, India, Indonesia and…
Around 700 twenty-foot equivalent units (TEUs) of export containers missed scheduled shipment through Chattogram port on Thursday and Friday because of a three-day work abstention by the prime mover drivers and helpers in one of the 19 inland container depots (ICDs). On Wednesday, the container carrying prime movers stopped operations demanding appointment letters as recognition…
Bangladesh’s foreign exchange reserves fell below the $19 billion-mark for the first time in 11 months. It hit $18.26 billion today after the central bank settled $1.63 billion worth of import bills of two months through the Asian Clearing Union (ACU), an arrangement for settling transactions, Bangladesh Bank Spokesperson Md Mezbaul Haque told The Daily…
LafargeHolcim Bangladesh’s quarterly turnover and profits dropped for the first time since the January-March quarter of 2022 mainly due to shrinking demand amid high inflationary pressure. The listed multinational cement producer’s turnover fell 3 percent year-on-year to Tk 825 crore in the January-March quarter of 2024 when the profits slipped 15 percent year-on-year to Tk…
