Garment makers urge Muhith to ease bill purchase conditions

Garment makers urged Finance Minister AMA Muhith on Friday to ease conditions for inland bill purchase (IBP) at a time when the country's largest state bank, Sonali Bank, is tainted with a loan scam. IBP is essentially a credit facility that takes place when a bank gives guarantee to its client for purchase of goods and services from the local market. Bangladesh Bank in a circular on July 11 reduced the power of purchasing IBP by the branches of banks as the banking regulator detected irregularities in disbursement...

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Bgmea concerned over strike at Ctg Customs

The apparel makers Sunday expressed concern over C&F agents’ strike at Chittagong Customs House that has hampered the activities of the country’s largest revenue -earning organisation. C&F agents of the Chittagong Custom House have started a strike since Sunday morning to press home their six-point demand. As a result, all export-import related activities have stopped at the Customs house, creating grave concern among the garment industries. Terming the garment industry as a very sensitive sector, the BGMEA said the entrepreneurs...

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Garment makers urge Muhith to ease bill purchase conditions

Garment makers urged Finance Minister AMA Muhith on Friday to ease conditions for inland bill purchase (IBP) at a time when the country's largest state bank, Sonali Bank, is tainted with a loan scam. IBP is essentially a credit facility that takes place when a bank gives guarantee to its client for purchase of goods and services from the local market. Bangladesh Bank in a circular on July 11 reduced the power of purchasing IBP by the branches of banks as the banking regulator detected irregularities in disbursement of loans against...

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Bgmea concerned over strike at Ctg Customs

The apparel makers Sunday expressed concern over C&F agents’ strike at Chittagong Customs House that has hampered the activities of the country’s largest revenue -earning organisation. C&F agents of the Chittagong Custom House have started a strike since Sunday morning to press home their six-point demand. As a result, all export-import related activities have stopped at the Customs house, creating grave concern among the garment industries. Terming the garment industry as a very sensitive sector, the...

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Lane Crawford will open first flagship store in Shanghai

Lane Crawford, Its president recently revealed, Lane Crawford will open the first flagship store of mainland China in Shanghai, it is expected to open in the second half of next year. This time Lane Crawford return back to Shanghai after withdrawal in the year 2006. The flagship store will cover an area of about 16,700 square metres . It will be the company’s largest store . It is possible that Lane Crawford return back to the site--Shanghai Times Square. But insiders suspect that the Square could supply nearly 20,000 square meters as...

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Apparel Retail Sales Value - 16.8% m/m in Jun in Shanghai

According to Shanghai Apparel Association, apparel retail sales volume in Shanghai top 10 department stores was 0.878 million pieces(sets), decreasing 7.4% m/m(up 3.5%y/y) by 71,000 pieces (sets).In June, apparel products sales value was CNY366 million, decreasing 16.8% m/m (up 3.8% y/y) by CNY61.54million. Average price in June was CNY346.2/piece (set), down 10.2% m/m, up 0.2% y/y.  In June 2012, the sales value of most clothing continued declining. Among them, men’s suit sales value decreased by 44.2% m/m; knitted underware...

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