RELIANCE

DHAKA — Bangladesh’s growing dependence on imported cotton yarn is putting pressure on the country’s domestic spinning industry, with local manufacturers warning that a substantial portion of their production capacity remains idle despite billions of dollars invested in the sector. Imports of cotton yarn in the 10-to-30-count range have nearly doubled in two years, according to data from the Ministry of Commerce’s Automated System for Customs Data (ASYCUDA). Shipments rose from 350.8 million kilograms in fiscal 2022-23 to 697.1 million kilograms in fiscal 2024-25 . The value of those imports in 2024-25 was approximately Tk 267 billion . Industry representatives say the surge has come at a time when many domestic spinning mills are operating well below capacity, raising concerns about the sustainability of Bangladesh’s textile supply chain and the viability of investments made in local production. Imports surge as local capacity remains underused Total yarn import payments reached nea...

DHAKA — Bangladesh remains heavily dependent on basic garments even as global demand and trade in higher-value and specialised apparel continue to expand, highlighting the need for greater product diversification in the country's export-oriented clothing industry. An analysis of export data from Bangladesh's Export Promotion Bureau (EPB) and global trade statistics compiled by the International Trade Centre (ITC) shows that roughly 77% of Bangladesh's garment exports in 2025 came from basic categories such as bottomwear, T-shirts, sweaters, innerwear, children's clothing and small accessories. Globally, those categories accounted for about 61.58% of total apparel exports during the same period. Bangladesh exported garments worth approximately $38.83 billion in 2025, compared with global apparel exports of around $426 billion . Bottomwear dominates Bangladesh's export basket Bottomwear — including trousers, shorts and skirts — was the single largest category in B...

International Desk: Gold prices fell sharply in global markets on Wednesday as a stronger U.S. dollar and expectations of a tighter monetary policy stance from the Federal Reserve weighed on investor sentiment. Spot gold was down 0.9% at $4,316.78 an ounce at around 2:47 p.m. Bangladesh time. U.S. gold futures for December delivery fell 0.5% to $4,354 an ounce. The decline came as investors assessed the outlook for U.S. interest rates and the broader implications for the dollar and bond yields. Higher interest rates generally reduce the appeal of gold, which does not generate interest or other regular income. Ole Hansen, head of commodity strategy at Saxo Bank, said gold was currently trading within a range of about $4,300 to $4,400 an ounce. He said comments from Federal Reserve officials, U.S. interest rates, bond yields and their impact on the dollar, along with movements in oil prices, were playing an important role in short-term investment decisions. Fed policy remains in focus T...

TANGAIL, Bangladesh — Bangladesh’s anti-graft agency has launched an investigation into allegations that bamboo was used in place of steel reinforcement during construction of a footpath slab on a bridge being built at a cost of more than Tk 100 million ($830,000) in Tangail’s Basail upazila. A team from the Anti-Corruption Commission (ACC) inspected the under-construction bridge on Wednesday and examined several sections of the structure, including the footpath slabs and railing pillars. The inspection was led by Biplob Hossain, an assistant director at the ACC’s Tangail district office. Other officials, including deputy assistant director Based Ali, also took part. “Initially, it appears that there may have been irregularities,” Hossain told reporters after the inspection. He said officials broke open sections of the footpath slab and railing pillars and found that the quantity of steel reinforcement in some areas appeared to be lower than required. The findings will be reviewed by ...

DHAKA: Nearly 97% of investors affected by alleged fund embezzlement at five Bangladeshi brokerage firms will receive compensation, with the Dhaka Stock Exchange (DSE) set to distribute about Tk 720 million among 17,332 investors. The compensation payments will begin on Sept. 28 and are expected to be completed within two months, officials said Tuesday. The announcement was made at a press conference organised by the DSE at its headquarters in Nikunja, Dhaka. DSE Chairman Mominul Islam, Managing Director Nuzhat Anwar and Investor Protection Fund (ITF) Chairman Nasrin Begum attended the briefing. Compensation capped at Tk 500,000 per investor Under the DSE Investor Protection Fund Rules, eligible investors can receive compensation of up to Tk 500,000 each, Nasrin Begum said. She said the claims had been assessed through a verification process before the list of eligible investors was finalised. The initiative is intended not only to return funds to affected investors but also to...

DHAKA: Bangladesh has set the airfare for pilgrims travelling to Saudi Arabia for the 2027 Hajj at Tk 130,000, reducing the cost by Tk 24,830 from the previous year, according to the government. The announcement was made on Tuesday by Dr Zahed Ur Rahman, the prime minister’s adviser for information and broadcasting, during the government’s weekly briefing at the Press Information Department. Citing information from the Ministry of Religious Affairs, Rahman said the airfare for the 2027 Hajj had been fixed at Tk 130,000. He said the new rate represents a Tk 24,830 reduction compared with the airfare set for the 2026 pilgrimage. Government seeks to reduce Hajj costs Rahman said the government had been gradually lowering Hajj airfares over the past several years as part of efforts to make the pilgrimage more affordable for Bangladeshi pilgrims. “The government is working to make the overall cost of Hajj more manageable,” he said. The airfare is one component of the overall cost of...

DHAKA: Bus fares across Bangladesh, including long-distance and urban routes, will rise by 17 paisa per kilometre following an increase in fuel prices, according to a decision reached at a meeting of the Road Transport Ministry on Tuesday. The increase is lower than the rates proposed by the Bangladesh Road Transport Authority (BRTA), which had recommended a 20-paisa-per-kilometre increase for intercity buses and 18 paisa for urban services. Shamsur Rahman Shimul Biswas, a member of parliament from Pabna-5 and chief coordinator of the central committee of the Bangladesh Jatiyatabadi Sramik Dal, said the government’s calculation supported a 20-paisa increase. However, officials decided to reduce the adjustment by 3 paisa per kilometre in consideration of passengers. New fares to apply nationwide Biswas said bus operators would meet with the BRTA to formalise the revised fares. The 3-paisa reduction from the proposed rate will apply to routes in metropolitan areas as well as distri...