Russia’s top clothing brand eyes Bangladesh for production shift

The Government of Bangladesh (GoB) and the Asian Development Bank (ADB) have entered into a $600 million loan agreement, equivalent to 91.76 billion Japanese Yen (JPY 91,764,000,000), under the Ordinary Operations Regular Policy-Based Loan (PBL) framework.

Adani Power Ltd is seeking new concessions from the Indian government for its $2 billion coal-based power plant in eastern India. This facility is facing financial strain due to delayed payments from Bangladesh, which is its sole electricity buyer, according to Bloomberg.

Indian businesses in Kolkata have begun to to feel the pinch as trade between India and Bangladesh continues to slow down.

The Indian rupee declined to a lifetime low yesterday (3 December), pressured by the US dollar`s rally against its major peers and on concerns over the Asian country`s slowing growth rate.

Bangladesh is on track to meet all 12 conditions set by the International Monetary Fund (IMF) to qualify for the fourth tranche of a 4.7 billion dollar loan programme, only missing the revenue collection target.

Adani dollar bond prices fell to almost one-year lows on Monday as investors cut their exposure to the Indian conglomerate in the wake of bribery and fraud allegations from US authorities.

Free trade talks between India and the UK will be relaunched in the new year, according to an announcement from Downing Street.

Bangladesh, the world`s second-largest garment producer, has opted to bypass India and ship its textiles to global markets through the Maldives, hurting the cargo revenue prospects of India`s airports and ports amid strained bilateral ties.

The International Monetary Fund (IMF) is sending a team within the first week of December to review whether Bangladesh qualifies for the fourth tranche of a 4.7 billion Us dollar loan programme.

Ambassador of the European Union (EU) to Bangladesh Michael Miller has said there are many opportunities to work more on renewables in a country like Bangladesh which has a low amount of renewable capacity.

After the World Bank, the International Monetary Fund (IMF) has now brought down Bangladesh`s growth forecast for this year as political uncertainty, industrial unrest and floods weigh heavily on economic activities.

The European Commission has announced new funding to support humanitarian projects in Bangladesh, Myanmar, Indonesia and Malaysia.

The global prices for different varieties of rice dropped on Monday after India and Pakistan made tit-for-tat moves to eliminate price caps and resume rice exports.

The Asian Infrastructure Investment Bank (AIIB) will provide Bangladesh with 700 million US dollar in budget support in the current fiscal year.

The International Monetary Fund (IMF) has reaffirmed its commitment to supporting Bangladesh in implementing essential reforms and policy measures to address emerging economic challenges.

UN Under Secretary-General and High Representative for the Least Developed Countries, Landlocked Developing Countries and Small Island Developing States Rabab Fatima has met Chief Adviser Prof Muhammad Yunus and assured him of her office`s full support for Bangladesh`s smooth transition toward LDC graduation.