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Tariff Loophole Challenges Local AC Manufacturers in Bangladesh

Tariff Loophole Challenges Local AC Manufacturers in Bangladesh

A tax loophole in Bangladesh allows commercial air-conditioning systems to be imported as 'capital machinery' at minimal duty, significantly impacting the local HVAC manufacturing industry. This loophole enables importers to pay just 1% customs duty with full VAT exemption, while local manufacturers face over 30% combined tax incidence on raw materials. The disparity is distorting competition, discouraging investment, and slowing the growth of a sector with strong export potential. Industry insiders argue that the misuse of the 'capital machinery' classification for finished cooling systems is undermining local manufacturers who are unable to compete on cost and price. The government may need to act by introducing clearer classifications and tariff reforms to support local industry growth.
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Fuel Crisis Severely Disrupts Goods Delivery and Business Operations in Bangladesh

Fuel Crisis Severely Disrupts Goods Delivery and Business Operations in Bangladesh

A severe fuel crisis in Bangladesh, exacerbated by a Middle East conflict, has led to significant disruptions in goods delivery and business operations. The crisis has resulted in 40-50% of trucks being idle, affecting supply chains across the country. Freight costs have surged, and transport shortages are delaying deliveries and increasing expenses. The crisis is impacting production as well, with companies like Pran-RFL Group facing severe constraints due to gas shortages and reliance on furnace oil and diesel. The government has raised fuel prices, which is expected to further affect inflation and living costs.
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Fuel Crisis in Bangladesh Disrupts Business Operations and Supply Chains

Fuel Crisis in Bangladesh Disrupts Business Operations and Supply Chains

Bangladesh is experiencing a severe fuel crisis that is significantly impacting business operations and supply chains. Rising fuel prices and shortages have led to increased production costs and disrupted logistics. Companies like Pran-RFL Group are facing challenges with a large portion of their transport fleet idled due to fuel shortages. The crisis, exacerbated by the Middle East conflict, is affecting industries across the board, with businesses struggling to manage rising costs and declining demand.
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Bangladesh Garment Industry Denies Overcapacity and Forced Labor Allegations

Bangladesh Garment Industry Denies Overcapacity and Forced Labor Allegations

The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has refuted claims of overproduction capacity and forced labor in the country's apparel sector. This response comes as the United States Trade Representative (USTR) prepares to investigate these issues in 60 countries, including Bangladesh. The BGMEA argues that the terms 'structural excess capacity' and 'overproduction' lack clear definitions and that the industry adjusts production based on market demand. The association emphasizes that Bangladesh's garment sector has grown steadily over decades, driven by global demand rather than policy-induced expansion. The BGMEA also asserts that the industry complies with international labor standards, dismissing allegations of forced labor.
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Bangladesh Garment Industry Defends Against U.S. Overcapacity and Forced Labor Claims

Bangladesh Garment Industry Defends Against U.S. Overcapacity and Forced Labor Claims

The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has responded to a U.S. investigation into alleged overproduction capacity and forced labor in the garment sector. The BGMEA argues that the industry does not have excess capacity that could harm U.S. manufacturing and is free from forced labor, complying with international labor laws. This comes as the U.S. Trade Representative prepares for a hearing on these issues, which involve 60 countries, including Bangladesh.
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AKIJ Resource to Acquire 30% Stake in Dominage Steel Amid Financial Struggles

AKIJ Resource to Acquire 30% Stake in Dominage Steel Amid Financial Struggles

AKIJ Resource to Acquire 30% Stake in Dominage Steel Amid Financial Struggles
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International Accord Urges Renewal as Safety Risks Persist in Garment Industry

International Accord Urges Renewal as Safety Risks Persist in Garment Industry

Thirteen years after the Rana Plaza collapse in Bangladesh, which resulted in the deaths of 1,134 workers, the garment industry continues to face significant safety challenges. The International Accord for Health and Safety in the Textile and Garment Industry, which evolved from the original Fire and Building Safety Accord, has been instrumental in improving safety standards across factories in Bangladesh and Pakistan. Despite these efforts, many factories remain behind schedule on safety remediations, and the current term of the Bangladesh Safety Agreement is set to expire in December. The International Accord's secretariat is advocating for a renewal of the agreement to continue addressing safety hazards in the industry.
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Procter Gamble Reports Strong Q3 Results Amid Global Challenges

Procter Gamble Reports Strong Q3 Results Amid Global Challenges

Procter Gamble Reports Strong Q3 Results Amid Global Challenges
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Florida authorities looking for 2 USF doctoral students take person into custody

Florida authorities looking for 2 USF doctoral students take person into custody

A Florida sheriff’s office says it has a person in custody as it investigates the disappearance of two University of South Florida doctoral students from Bangladesh
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Iran war hits Asia's polyester suppliers to global fast fashion

Iran war hits Asia's polyester suppliers to global fast fashion

By Dhwani Pandya, Sumit Khanna , Helen Reid and Ruma Paul SURAT, India, April 24 (Reuters) - A surge in fossil fuel prices since the Iran war is squeezing polyester suppliers and garment makers across India and Bangladesh, threatening to raise costs for fast-fashion retailers like Zara and H&M.
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Japan's Lion Corporation Expands into Bangladesh FMCG Market with Local Production

Japan's Lion Corporation Expands into Bangladesh FMCG Market with Local Production

Japan's Lion Corporation Expands into Bangladesh FMCG Market with Local Production
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Interparfums Reports Growth in Q1 2026 Sales Driven by European and US Markets

Interparfums Reports Growth in Q1 2026 Sales Driven by European and US Markets

Interparfums Reports Growth in Q1 2026 Sales Driven by European and US Markets