Exports see record $4.73B rise in Oct
Business Desk
Exports have fetched $4.73 billion in the month of October as single-month highest – a figure 60.37% higher than last year.
The 60.37% year-on-year rise beat the $3.46 billion target set for the month, according to data released by Bangladesh’s Export Promotion Bureau on Tuesday.
Meanwhile, exports rose 22.6% to $15.75 billion in the July-October period, surpassing the $13.89 billion target.
RMG exports increased by 20.8% to $12.62 billion in the July-October period, compared to the $11.23 billion targets for the period.
IIS to be held on 28-29 Nov
Business Desk
With the theme of ‘Shonar Bangla (Golden Bengal): A Land of Limitless Investment Opportunities’ International Investment Summit is going to be held between 28-29 November online.
The Summit is being organised by Bangladesh Investment Development Authority (BIDA), the country’s apex investment promotion agency.
The International Finance Corporation (IFC) of World Bank Group is the lead supporting agency for the Summit.
Prime Minister Sheikh Hasina will inaugurate the summit virtually.
IIS 2021 will highlight the resilience and competitiveness of the Bangladesh economy and showcase specific private investment opportunities available in target manufacturing, infrastructure and services sectors through technical discussions and matchmaking initiatives.
SCB executes sustainable trade finance transaction
Business Desk
Standard Chartered Bangladesh (SCB) has introduced the country’s first Sustainable Trade Finance Transaction locally.
The Bank provided sustainable trade finance support to Square Textiles, a subsidiary of Square Group, in supplying yarn made from sustainably sourced cotton to their local buyer Echotex Ltd under a Letter of Credit transaction, said a press release.
Square Textiles Ltd is a manufacturer of sustainable yarn, produced from cotton that was sourced from sustainable cotton producers who are also members of the Better Cotton Initiative (BCI).
