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Category Archives: Industry

Poor labour rights : BD once again left out of GSP

businessnews24bd.com Bangladesh has once again been left out of the American list of beneficiary countries for trade privileges from the US on grounds of poor labour rights. The list of beneficiaries for the Generalised System of Preferences scheme was updated last month by the United States Trade Representative, the chief trade negotiation body for the US government. Ecuador, Fiji, Georgia, ... Read More »

Workers of almost all RMG factories get eid bonus : BGMEA

Apparel business owners claimed that almost all of the factories have cleared their workers’ festival allowances ahead of the Eid-ul-Fitr, reports bdnews24.com “Almost 99.95 percent factories paid festival allowances to their workers,” Siddiqur Rahman, president of Bangladesh Garment Manufacturer and Exporters Association (BGMEA). At a media briefing on Monday, he said that they had formed nine monitoring bodies responsible of ... Read More »

RMG industry trembles after Dhaka attack

          Some leaders of Bangladesh’s $26 billion garment industry expect Western fashion retailers to review their ties with the world’s second-largest garment exporter after Islamist militants killed at least 17 foreigners in an attack on a Dhaka restaurant. Bangladesh, one of the world’s poorest countries, relies on garments for around 80 percent of its exports and ... Read More »

Tax at source for exports at 0.7 pc in FY 2016-17 : Minister

Tax at source for readymade garment exports will be revised to 0.7 percent, down from 1.5 percent in the proposed budget for the upcoming fiscal year, Finance Minister AMA Muhith tells Parliament, reports bdnews24.com The decision comes after Prime Minister Sheikh Hasina suggested the revision among others while speaking in the House during discussion on the budget proposal. Muhith said ... Read More »

Govt to reduce tax at source on RMG

businessnews24bd.com The government has taken a decision to reduce tax at source imposed on the export-oriented garment industry in the proposed budget for 2016-17. But how much reduction will be given in source tax has not been finalized yet. A source in the NBR said that tax at source may be reduced from 1. 50 per cent to 1.00 per ... Read More »

Walton showroom inaugurated

businessnews24bd.com Walton Brand ambassador and film actor Ilias Kanchan is inaugurating an exclusive Walton showroom at Bogra on Sunday. Amdadul Haque Sarker, Executive Director, Marketing, Md. Jahirul Islam, Assistant Director, Walton, Abdul Motin Sarker, Bogra District Truck Owners Association General Secretary and Walton Plaza (St.) Owner Al-haj Khandaker Md. Shafiuddin Master were present along with other eminent guests. Read More »

Samsung opens new brand shop with Transcom Digital

businessnews24bd.com Samsung Electronics, the global leader in consumer electronics brands has inaugurated its latest Brand Shop at Kuril PragatiSharani with Transcom Digital recently SeungwonYoun, Country Manager , Samsung Electronics Bangladesh inaugurated the outlet in the presence ofFiroze Mohammad, Head of Business, Consumer Electronics of Samsung Electronics Bangladesh,  Arshad Huq, Chief Operating Officer;  Yeamin Sharif Chowdhury, Head of Business, Transcom Electronics ... Read More »

Salary, bonus for RMG workers before Eid demanded

businessnews24bd.com Leaders of different organisations of garment workers have demanded salaries, allowances and overtime payment of garment workers within Ramadan 20.   The demand was made with the banner of 25 garment workers organisations holding a rally in front of National Press Club on Friday.   Speakers said in the rally that Ministry of Labour Employment directed all industries including ... Read More »

No sign of tannery relocation found yet

businessnews24bd.com There is no sign of tannery relocation from Hazaribagh to Savar although the High Court ordered owners of tanneries to pay Tk 50,000 per day each in compensation for damaging the environment. The workers in Hazaribagh tannery were seen to work as usual on Wednesday. Tannery owners said that they have nothing to do as the relocation process will ... Read More »

High interest rate barriers to RMG remediation: Study

    businessnews24bd.com  High interest rates and a lack of financial literacy are highlighted as major obstacles to factories in the Bangladesh Readymade Garment (RMG) sector from obtaining remediation financing, according to a latest report. The International Finance Corporation (IFC) and International Labour Organisation (ILO) launched the report in the city on Monday. According to the report, interest rates that ... Read More »