The apparel industry began its journey in the port city back in 1978. Moreover, the first, and the largest, Export Processing Zone is situated in the commercial capital. There was a time when the apparel sector used to earn 40 percent of its total export income from Chittagong. However, the contribution…

As part of Bangladesh’s plan to reach a US$ 50-billion export target by 2021, a three-day fair titled ‘Bangladesh Apparel & Safety Expo, Chittagong 2015’ begins in the port city today, UNB reports from Chittagong. Commerce Minister Tofail Ahmed is scheduled to inaugurate the exposition…

AFP, WASHINGTON: The US trade deficit widened in June as the strong dollar encouraged imports and weighed on exports amid weaker growth in the global economy, official data released yesterday showed. The trade gap ballooned 7.1 per cent from May to $43.8 billion, the Commerce Department reported, well…

Malaysia External Trade Development Corporation (MATRADE) Chief Executive Officer Dato’ Dzulkifli Mahmud has expressed the hope that the bilateral trade between Bangladesh and Malaysia would increase by five percent in the second quarter of the current fiscal year, reports UNB. “Bilateral…

AFP, JAKARTA: Indonesia’s growth slid in the second quarter to levels unseen since 2009, government data showed yesterday, highlighting the uphill battle for President Joko Widodo in expanding Southeast Asia’s biggest economy. The economy grew at 4.67 per cent year-on-year in the three months…

Stock market closed flat yesterday despite persisting sale pressure as banking shares were firm to support the broader index at the prime Dhaka Stock Exchange (DSE), reports BSS. DSEX increased 2.15 points to close at 4873.96 when the blue- chip DS30 and the Shariah DSES were down 15 and 5.01 points…

Bangladesh Chemical Industries Corporation (BCIC) signed an agreement with Muntajat, Qatar on Monday for importing two lakh MT granular urea and two lakh MT of prilled urea, says a press release. Mohammad Iqbal on behalf of chairman of BCIC, and Chief Of Executive of Muntajat Abdul Rahman Ali Al-Abdullah…

Federation of Bangladesh Chambers of Commerce & Industry(FBCCI) and Business Initiative Leading Development (BUILD) yesterday signed an memorandum of understanding to  integrate research initiatives of both the organisations for development of private sector, says a press release. The agreement…

AFP, MANILA: Philippine inflation slowed to a record low of 0.8 per cent year-on-year in July on lower electricity, petrol and transportation costs, the government said yesterday. The rate of inflation was within the central bank’s forecast of 0.5 per cent to 1.3 per cent, but marked a steep fall…

AFP, TOKYO: The dollar rose against the euro and yen in Asia yesterday, adding to gains driven by a US Federal Reserve official’s support for a September interest rate hike. In Tokyo, the dollar fetched 124.40 yen, against 124.36 yen in New York and 123.98 yen in Tokyo earlier Tuesday. The euro…

AFP, SINGAPORE: Oil prices rose in Asia yesterday as dealers predicted that the latest US crude stockpiles and production data will point towards upbeat demand in the world’s top crude consumer, analysts said. US benchmark West Texas Intermediate for September delivery gained 45 cents to $46.19…

AFP, MUMBAI: The battle for supremacy in India’s bulging e-commerce market between Amazon, Flipkart and Snapdeal is rapidly heating up with multi-billion-dollar investments, trolling on Twitter and squabbling over exclusive selling rights. Gaining ground after entering India in 2013, Amazon has…

AFP, ANKARA: The end to a ceasefire with Kurdish rebels and political uncertainty after inconclusive June elections are compounding already mounting problems for Turkey’s stuttering economy, analysts say. The resumption of regular attacks by Kurdistan Workers’ Party (PKK) rebels in the southeast…

AFP, SAN JUAN: Puerto Rico’s default on a debt payment for the first time will leave the island closed out of the US financial markets, deepening what is already a serious economic crisis. Governor Alejandro Garcia Padilla paid out just 628,000 dollars of $58 million in Puerto Rico Public Financing…

AFP, HONG KONG: Asia-focused British bank Standard Chartered slashed dividends by 50 per cent yesterday after profits plunged in the first half of the year, its first result under new leadership as it struggles to return to growth. Net profit slumped 36.7 per cent in the six months to June compared…