AK Azad plans to cut 10,000 jobs amid rising costs!
AK Azad plans to cut 10,000 jobs amid rising costs!

Industrialist AK Azad, managing director of Ha-Meem Group, has announced plans to reduce the companys workforce by around 10,000 employees, citing rising production costs and mounting pressure in the global market. In a recent media interview, Azad said his group currently employs about 75,000...

May export earnings rise 9.80% over April
May export earnings rise 9.80% over April

Exports in May surged to $4.4 billion, registering a 9.80% growth compared to April exports of $4.09 billion, according to Export Promotion Bureau (EPB) data released on Wednesday. However, cumulative exports during JulyMay FY202526 declined by 2.55% compared to the corresponding period of the...

Govt aims to turn leather industry into export-oriented sector: Minister
Govt aims to turn leather industry into export-oriented sector: Minister

Industries, Commerce and Textiles and Jute Minister Khandakar Abdul Muktadir on Friday said the government aims to transform the countrys leather industry into a stronger export-oriented sector by ensuring proper preservation and use of sacrificial animal hides. Speaking to reporters after...

Govt steps up efforts to ensure fair leather prices ahead of Eid-ul-Azha
Govt steps up efforts to ensure fair leather prices ahead of Eid-ul-Azha

The government has launched a series of measures ahead of Eid-ul-Azha to ensure fair prices for sacrificial hides, improve leather preservation and revive the countrys struggling leather export sector. Authorities have taken several initiatives, including keeping the Central Effluent Treatment...

Bangladesh losing EU apparel market share despite price cuts
Bangladesh losing EU apparel market share despite price cuts

Bangladesh is struggling to secure expected orders in the European Union (EU) apparel market, even after offering garments at lower prices. Despite aggressive discounting, both export earnings and shipment volumes are falling, raising fresh concerns over the countrys key export sector....

Govt aims to build $7bn jute industry through modernization, innovation
Govt aims to build $7bn jute industry through modernization, innovation

Textiles and Jute Minister Khandakar Abdul Muktadir said on Tuesday that the government aims to transform Bangladeshs jute sector into a $57 billion industry from its current export earnings of around $1 billion through modernization, research and product diversification, reports UNB. He made...

Trade under dual pressure
Trade under dual pressure

The countrys foreign trade sector is under mounting strain from two sides. On one hand, export earnings are falling, while on the other, the cost of importing essential goods such as food, fuel, and industrial raw materials continues to rise. As a result, the overall business environment is...

Export earnings cross $4b in April
Export earnings cross $4b in April

Bangladeshs exports earnings have made a sharp rebound in April in the current fiscal year to surpass $4 billion. According to Export Promotion Bureau (EPB) data released on Sunday, monthly earnings surged 32.92% year-on-year in April. This momentum was also reflected month-on-month, with...

Muktadir urges export diversification to deepen Bangladesh-US trade ties
Muktadir urges export diversification to deepen Bangladesh-US trade ties

Commerce Minister Khandkar Abdul Muktadir on Tuesday reinforced the need for export diversification, improved market access, and increased investment to strengthen economic ties between Bangladesh and the United States. Although the United States remains a key trading partner, Bangladeshs...

Frozen shrimp industry under threat from power outages
Frozen shrimp industry under threat from power outages

The frozen shrimp industry in the Khulna region is facing a severe crisis due to prolonged power outages and fuel shortages, threatening one of the areas key export sectors. Electricity supply in Khulna has been disrupted for 7 to 10 hours daily, both day and night, causing serious risks to...

Export decline not caused by fuel disruption, says Jute Minister
Export decline not caused by fuel disruption, says Jute Minister

Khandakar Abdul Muktadir, Minister for Textiles and Jute, said the idea that exports have declined due to fuel disruption is incorrect, attributing the slowdown to weak global demand. Speaking to journalists after visiting an industrial site in Siddhirganj on Saturday, the minister said...

Iran considers tolls for Strait of Hormuz transit
Iran considers tolls for Strait of Hormuz transit

Iran is considering legislation that would require foreign vessels to pay fees for transiting the strategic Strait of Hormuz, Iranian media reported Thursday, amid ongoing regional tensions affecting global energy markets. The semi-official ISNA news agency said the proposed bill would impose...

EU chief’s Australia visit boosts hopes for long-awaited trade deal
EU chief’s Australia visit boosts hopes for long-awaited trade deal

European Commission President Ursula von der Leyen will visit Australia next week, fuelling optimism that a long-negotiated free-trade agreement could finally be within reach. Prime Minister Anthony Albanese confirmed he will meet von der Leyen in Canberra on March 24. She is scheduled to visit...

Supply chain disruption hampers business, hinders exports
Supply chain disruption hampers business, hinders exports

Both domestic and global supply chain disruptions triggered by the ongoing US-Israel war on Iran and the resulting energy crisis are increasing the cost of doing business and creating fresh concerns for Bangladeshs export-oriented industries. The conflict has severely disrupted energy shipments...