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BD's apparel sector faces growing competition in global market

Shamsul Huda

Bangladesh's apparel sector is under pressure in the global market as competitors like Vietnam and India made significant strides in high-value garment exports. A recent report by the United States International Trade Commission (USITC) highlighted the shifting dynamics, revealing that Bangladesh is struggling to capture a larger share of the US market, which China is gradually ...

Bank Restructuring Yields Positive Outcome

Depositors regaining confidence: BCB CEO Tarik Morshed

Shamsul Huda

In an exclusive interview with the Daily Observer, Tarik Morshed, Chief Executive Officer and Managing Director of Bengal Commercial Bank (BCB), discussed the current state of Bangladesh's banking sector, highlighting both the challenges and opportunities that lie ahead. Morshed asserts that despite recent turmoil, the sector is on a positive trajectory under the guidance of ...

BB facilitates first tranche of Tk 9.5bliquidity support to weak banks

Shamsul Huda

Bangladesh Bank (BB) on Wednesday facilitated the transfer of Tk9.5 billion in liquidity support to several weak banks. Under the central bank's policy to bolster weaker financial institutions without printing money, stronger banks provided excess liquidity through inter-bank support.The First Security Islami Bank Limited (FSIBL) is to receive Tk3 billion from City Bank, Mutual Trust Bank ...

Single country source policy favours traders, stifles local agrochemical manufacturers

Shamsul Huda

The single country source policy, designed to regulate agrochemical imports is being flagrantly bypassed by traders, giving them an unfair advantage over local manufacturers to produce and supply agrochemical products locally. The single country source favours import by traders even from multiple sources under false certification while it stifles local manufacturers to grow and replace imports. Industry ...

Globe Edible Oil sues S Alam Group for compensation

Shamsul Huda

Globe Edible Oil Limited (GEOL) seeks compensation from S. Alam Group, as the previous controlling entity of IBBL, accusing it of deliberately orchestrating a financial disaster for GEOL labeling it as loan defaulter and capturing the company's assets.With the fall of Sheikh Hasina government, which has aligned with S Alam's Group in sheltering its attempts ...

Procurement methods of BD's key port being questioned

Shamsul Huda

Chattogram port, a critical hub for Bangladesh's trade, is facing increasing scrutiny over procurement practices that deviate from global standards. Allegations of giving direct contracts replacing open tenders have raised concerns about transparency and fairness, calling into question the port's operational integrity. Industry insiders stress that this approach significantly contrasts with international benchmarks, where competitive bidding and ...

BD losing huge revenue rerouting export cargoes thru Indian airports

Shamsul Huda

Bangladesh is losing billions of taka as export cargo shipment continues to be rerouted through Indian airports due to handling inefficiencies at Dhaka's Hazrat Shahjalal International Airport (HSIA). Such cargoes pass to India through Benapole land port. This shift, driven by delays and exorbitant handling costs at Dhaka airport is undermining the country's export competitiveness ...

HSIA's 3rd terminal: Cargo handling gaps may stall benefits of freight forwarders

Shamsul Huda

Hazrat Shahjalal International Airport (HSIA) is expected to commission its third terminal soon to be able to handle more foreign carriers and enhance the position of the airport globally. However, despite this anticipated boost, inadequate ground handling infrastructure could limit the potential benefits. Although the new terminal will increase the airport's capacity, experts said that without ...

Structural reform, liquidity support key to banking sector stability

Shamsul Huda

In the wake of significant banking sector scandals, particularly involving a prominent Chattagram-based business conglomerate, the call for structural reforms and bringing discipline in the banking sector has grown louder in the banking sector. Md Abdul Mannan, Senior Executive Vice President and head of credit of SBAC Bank emphasized that the current reform efforts led by ...

Balance of Payments shows resilience in FY24 compared to FY23

Shamsul Huda

Bangladesh's balance of payments for FY24 showed resilience, despite global and local challenges, with significant improvements in key areas compared to FY23. The current account deficit narrowed, though challenges remained in both trade and financial accounts.According to Bangladesh Bank's (BB) latest statistics the current account deficit reduced to -$6.5 billion in FY24, or by 44.1 per ...