A file photo shows a grower washing jute fibres at a village in Munshiganj. Bangladesh Bank on Monday said the jute sector entrepreneurs would get loans at the interest rate of 9 per cent from a central bank’s refinance fund of Tk 200 crore. — New Age photo Bangladesh Bank on Monday said the jute sector entrepreneurs would get loans at the interest rate of 9 per cent from a central bank’s refinance fund of Tk 200 crore. The BB on the day issued a circular to managing directors and chief ex

A fire broke out in a private jute mill at Dattapara suburb of the district town on Tuesday, which gutted huge quantity of raw jute, jute products and factory tools. Fire Service officials said the fire erupted at a room of the Natore Jute Mills in the BISIC industrial area at about 11:45 am and the blaze soon engulfed the entire factory. On information, four fire fighting units rushed to the spot and are working to douse the blaze. The cause of the fire could not be immediately kno

Chinese President Xi Jinping met with Bangladeshi Prime Minister Sheikh Hasina Wajed here on Tuesday and both pledged to make joint efforts to build an economic corridor linking Bangladesh, China, India and Myanmar. "Bangladesh is an important country along the Maritime Silk Road," Xi said during the meeting, noting that China welcomes the Bangladeshi side's participation in the construction of the Silk Road Economic Belt and the 21st Century Maritime Silk Road, while pushing ahead with the e

Two pairs of 3,300-year-old trousers found in China’s far western Xinjiang region may be the world’s oldest, state-media reported Friday. Archeologists in May found animal-fur menswear on the bodies of two mummies, identified as male shamans in their 40s, the state-run China Daily cited scientists as saying. An international team is working together to repair and preserve the two pairs – which are the oldest yet discovered with a clear resemblance to modern trousers, the report said. “T

A Middle East-based textile company is going to set up an integrated garment factory at a cost of US$ 80 million in Mekelle town, the capital of Tigray region in Ethiopia, reports Addis Fortune. The company, Velocity Apparel Plc, which has factories in Egypt, Jordan and the United Arab Emirates, has already secured 100 hectares of land in Mekelle, about 780 km north of Addis Ababa. It has also received a loan from the Development Bank of Ethiopia for establishment of the garment manufacturing

The government on Sunday increased the cash incentive for export of readymade garments to 5.25 per cent from the existing 5 per cent. To this end, Bangladesh Bank issued a circular authorizing dealer branches of all scheduled banks saying that the new directive would be effective for the shipment of export items of the RMG sector between January 1, 2014 and June 30, 2015. The RMG exporters will get 3 per cent cash incentive from the existing 2 per cent if they exported new products abroa

The textile industry has urged the government to ensure uninterrupted energy supply to the mills throughout Punjab. Acting Chairman APTMA Punjab Syed Ali Ahsan said that out of the total 235 member mills in Punjab, 58 member mills having no alternative source of energy are prime electricity users with 138 MW of load. Out of these, 25 mills with 55 MW load are located in LESCO jurisdiction. Five mills out of these are completely shut down, while others operate partially due to non-availabil

Textiles and apparel exports to the US fell 0.56 percent to $1.77 billion in the first four months of 2014 from the same period last year, according to data from the US Department of Commerce. Declining exports to Bangladesh's single largest export destination indicates that a downtrend started in garment exports, said Reaz-Bin-Mahmood, vice-president of Bangladesh Garment Manufacturers and Exporters Association, the garment makers' platform. After the Rana Plaza collapse, 175 export-orien

A shoe factory owner and its three employees have sustained severe burn injuries in a capital’s Mukimbazar fire on Sunday night. The injured persons have been identified as Md Rumon, 28, the owner of the shoe factory and his employees--Kebru Miah, 34, Md Hossain, 30, and Sumon, 30. They have been rushed to the Dhaka Medical College and Hospital (DMCH). Kausar Hossain, a maternal uncle of the factory owner, said the fire originated at around 8:30pm soon after the switch of a fan was o

Shoes are produced at Thuong Dinh Footwear Company in Ha Noi. Footwear export turnover reached US$3.76 billion in the first five months of this year, rising 17.8 per cent year-on-year. — VNA/VNS Photo Ngoc Ha Footwear exports fetched US$3.76 billion in the first five months of this year, up 17.8 per cent year-on-year, according to the Ministry of Industry and Trade. The period's encouraging growth rate signalled that the footwear industry was well on track to reach $12 billion export targ