Jan-Nov RMG exports to US up 30.68pc

The country has found the presence of around 17 to 103 trillion cubic feet (TCF) of ice-like hydrate deposits containing The country’s apparel exports to its single largest destination — the United States — stood at US$6.36 billion during the first eleven months (January to November) of 2021. The earnings were 30.68 per cent or US$1.49 billion higher compared to $4.86 billion in the corresponding period of 2020, according to OTEXA, an affiliate of the US Department of Commerce. During the period under review, Bangladesh shipped 2.33 billion square metres of apparel items, up by 34.37 per cent from 1.73 billion square metres in the same period of 2020. Bangladesh’s main competitors China and Vietnam also witnessed 27.29 per cent and 12.73 per cent growth respectively. After the Rana Plaza building collapse in 2013, Bangladesh’s apparel exports to the US declined to $4.83 billion in 2014, which was $4.95 billion in 2013. However, the overall apparel imports of USA from across the world during the January to November period of 2021 also increased by 25.43 per cent to US$ 74.28 billion from $59.23 billion during the same period of 2020.

Source: https://today.thefinancialexpress.com.bd/first-page/jan-nov-rmg-exports-to-us-up-3068pc-1641661349

China’s forex reserves reach $3.25 trillion, hitting 6-year high

China’s foreign exchange reserves stood at $3.25 trillion at the end of December, 2021, up $27.8 billion month-on-month and hitting a six-year high, according to data released by the State Administration of Foreign Exchange on Friday, reports Global Times. The Chinese currency’s rising valuation continued to be the main factor behind the increase in China’s foreign exchange reserves in 2021. While China’s December trade data is due to be released on Friday, the market is broadly expecting Chinese exports to continue its upward trajectory. China’s solid economic fundamentals and rising foreign exchange reserves are to offer support to the yuan’s value in 2022, which performed relatively well against a variety of other currencies in 2021, particularly the US dollar.

Source: https://today.thefinancialexpress.com.bd/trade-market/chinas-forex-reserves-reach-325-trillion-hitting-6-year-high-1641656989

New chairman, vice chairmen of SJIBL

Mr. Mohammed Younus has been unanimously elected as Chairman of the Board of Directors of Shahjalal Islami Bank Limited in it’s 333rd board meeting held recently. In the same meeting, Mr. Mohiuddin Ahmed and Mr. Mohammed Golam Quddus were elected as Vice-Chairmen of the Board of Directors of the Bank. Newly-elected chairman Mr. Mohammed Younus is the Managing Director of several companies, including Younus Spinning Mills Ltd and Sonali Paper and Board Mills Ltd.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/new-chairman-vice-chairmen-of-sjibl-1641654781

Rickshaw fare can be paid thru ‘tap’

Rickshaw fare can now be paid through mobile phone, thanks to a new groundbreaking feature by mobile financial service Trust Axiata Pay or ‘tap’. Riders will no longer need to look for the wallet after a rickshaw ride and pay the fare using tap. Rickshaw pullers similarly don’t have to worry about carrying a lot of change when they receive payment on tap. The feature was launched on Saturday as a pilot project by tap. The Managing Director & CEO Trust Bank Limited and Director, Trust Axiata Digital Limited, Humaira Azam, inaugurated the project. Dewan Nazmul Hasan, the Chief Executive Officer (CEO) of tap, was also present in the launching event held in the capital’s Dhanmondi area. As part of the project, 300 rickshaw pullers were given ID cards with QR codes.

Source: https://today.thefinancialexpress.com.bd/trade-market/rickshaw-fare-can-be-paid-thru-tap-1641657174