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  • Ambassador of Russian Federation to Bangladesh Alexander A Nikolaev on Friday said Russia was keen to import readymade garments from Bangladesh. ‘The apparel sector has developed in Bangladesh with enormous potentials and there is ample scope to export garments to Russia from here,’ said the Russian envoy. The Russian ambassador was speaking while visiting RMM Knit Clothing and Sweater Factory at Aliganj in Narayanganj sadar upazila Friday morning. The European Union member countries
  • Textile exports of the country registered a nominal increase of only one percent in the current calendar year and netted $9.1 billion as compared to $9 billion during the same period of last year, it is learnt. Official sources revealed to Business Recorder that textile exports to the European Union (EU) registered an increase of 19 percent during the first nine months of the current calendar year and remained at $3.98 billion as compared to $3.3 billion during the same period of last year.
  • As China sends more aid to the Ebola-plagued west Africa, medical equipment suppliers are fighting the epidemic on another front as they rush to meet the soaring global demand for protective products. Protective gear such as coveralls, gloves and goggles are essential supplies in the battle against the deadly virus, with Chinese suppliers seeing a wave of orders from concerned countries. Gao Yan, a sales manager of Crown Name Disposable Hygiene Products Fty Ltd based in Hubei province, sai
  • CHINA is hoping that APEC will play a coordinating role in establishing a Free Trade Area of the Asia-Pacific (FTAAP), a Chinese official said yesterday. It is seeking implementation of an APEC information exchange for free trade areas to increase transparency and facilitate interaction among Trans-Pacific Partnership Agreement members and the Regional Comprehensive Economic Partnership, Wang Shouwen, assistant commerce minister, told a press conference. China also hopes concerned parties
  • The country’s jute growers have incurred huge losses this season as most of them failed to achieve their production target due to unfavourable weather during the cultivation, growers and traders told New Age. They feared jute production might have declined by 30-40 per cent this year across the country due to severe drought in the beginning of the season and downpour in the mid-season. Due to the decrease in jute production, its prices increased by 15 per cent compared with the last year’s
  • Cotton export has started to pick up, with the new season (October to September) having begun, but is unlikely to meet the estimates put forward by the Cotton Advisory Board (CAB). The Board, under the Union textile commissioner, has estimated total export in 2014-15 at nine million bales (a bale is 170 kg), about 23 per cent lower from the previous year’s export of 11.7 mn bales. Analysts believe the total might be no more than 7-7.5 mn. Prerana Desai, head of research with Edelweiss Comm
  • Mills and spinners continued buying on expectations of increase in prices in times to come, dealers said on the cotton market on Friday. The official spot rate was unchanged at Rs 5,150, they added. In the ready session, around 30,000 bales of cotton changed hands between Rs 4600 and Rs 5300, they said. In Sindh, rates of seed cotton were firm at Rs 2000 and Rs 2500, in Punjab prices were unchanged at Rs 2400 and Rs 2650, they said. Market sources said that in the short run, no major change
  • China's manufacturing growth picked up to a three-month high in October, a closely watched private survey confirmed Monday, but did little to counter a picture of slowing growth in the world's second-largest economy. British bank HSBC's final purchasing managers index (PMI) came in at 50.4 last month, above the 50-point level that separates expansion and contraction and the strongest since July's 51.7. The index tracks activity in factories and workshops and is considered a key indicator o
  • The tannery owners have demanded of the central bank and the government to instruct all the banks to ensure full-fledged implementation of the incentive package offered to help relocate the leather processing factories from Hazaribag to Savar. Bangladesh Bank on Sunday offered an incentive package including transferring irregular loans to block accounts, moratorium facilities and flexible payment term for the owners to help move their factories to a designated industrial park in Savar. Th
  • Knitwear garment exports from Tirupur recorded a growth of 16 per cent at Rs 10,050 crore in the first six months of financial year 2014-15 as against Rs 8,650 crore in the corresponding period last year. In dollar terms, the growth stood at 13.35 per cent. Exporters from this tiny town, which is the hub for knitwear exports, in southern Tamil Nadu are hoping to close the fiscal with an export turnover of Rs 21,000 crore. Tirupur Exporters Association (TEA)'s president A Sakthivel said the
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