Bangladesh leads global denim market
Bangladesh’s dominance in the global denim market has continued thanks to a surge in demand driven by the trade tension between the US and China. Owing to higher demand, denim product manufacturers have surpassed their Chinese counterparts in Europe and the US, the two major export destinations for Bangladesh.Bangladesh exported denim products worth $689.69 million to European Union in the January–June period of 2022, registering a 37.26 per cent year-on-year growth, according to data from the Export Promotion Bureau and the Bangladesh Garment Manufacturers and Exporters Association (BGMEA).
Bangladesh exports its largest ever container ship to UK
Bangladesh on Tuesday exported a locally built 6100-tonne load capacity high-speed multipurpose container ship to the UK.This is the largest container ship built in the country that has been exported, according to the ship’s builder.
Ananda Shipyard, a Bangladeshi shipbuilding company, has built the ship as per the requirements of UK-based Enzian Shipping Company Ltd.The vessel was officially handed over today through a ceremony held at InterContinental Dhaka. State Minister for Shipping Khalid Mahmud Chowdhury was present as the chief guest at the function, reports UNB.
The National Board of Revenue’s Member (Customs Policy) Hossain Ahmed; Director General of Shipping Directorate, Commodore NizamulHaque; Islami Bank Managing Director and CEO MonirulMawla; Chairman of Ananda Shipyard, DrAbdullahel Bari, and Managing Director Afroza Bari also spoke in the function.DrAbdullahel Bari said that the ship is 364 feet long, 54 feet wide and 27 feet high. The ship’s engine capacity is 4130 horsepower, speed is 12.5 nautical miles and capacity is 6100 tonnes.
Dollar little cheaper for importers
A relative calm appears after the storm on Bangladesh’s forex market as exchange rate for importers fell slightly Tuesday while interbank transactions also saw a revamp, bankers said.The central bank has already intensified monitoring on the foreign-exchange (forex) market using its ‘dashboard’ to known about the rates for exporters, importers and the overseas exchange houses instantly.”We’ll act considering the market’s latest situation,” a senior official of the Bangladesh Bank (BB) told the FE about the market-driven exchange regime broached by bankers as a panacea for treating forex volatility.He wouldn’t elaborate.Earlier on February12, 2013, the central bank launched an electronic system-generally known as ‘dashboard’-for monitoring all kinds of foreign-exchange transactions to check fraud and forgery in the country’s banking sector.
Local and Global Stock Indices *
|Index Name||Close Value||Value Change||Percentage Change|
|Nikkei 225||$27,836.20 ||↓778.43||↓2.72%|
World Commodities *
|Commodity||Close Value||Value Change||Percentage Change|
|Crude Oil (WTI)||$86.88 ||↓0.43||↓0.49%|
|Crude Oil (Brent)||$92.73 ||↓ 0.44||↓ 0.47%|
|Gold Spot||$1,704.20 ||↑2.03||↑0.12%|
Major Currencies Exchange Rates Movement in Last Seven Days *
|USD 1||BDT 106.9000|
*World Commodities & Local and Global Stock Indices data are taken from bloomberg.com<
* Exchange Rates are taken from BB website, as on latest update.<