DBL Group Invests $80 million in Yarn Mill

Ring Shine Textiles reported a further decline in its financial performance for Q4 2024, with losses widening year-on-year. The company's earnings per share (EPS) fell to Tk -0.71 for October–December 2024, compared to Tk -0.55 in the same quarter of 2023. For July–December 2024, EPS dropped to Tk -1.50, worsening from Tk -1.41 in the previous year.

Over 100 factories have closed in Bangladesh in the past six months, exacerbating the economic crisis, particularly in the garment sector, which is vital to the country’s economy. Factory closures, caused by factors like inadequate gas supply, lack of financial support, and rising worker dissatisfaction, have resulted in significant job losses

Bangladesh’s RMG exports to the EU grew 4.86% year-on-year to $19.77 billion in 2024, with export volume rising 10.18% to 1,230.51 million kg, but unit prices fell 5% to $16.07 per kg.

In 2024, Bangladesh's apparel exports to the European Union grew by 4.8%, reaching €18.27 billion, up from €17.44 billion in 2023. This marks a recovery from previous setbacks, aided by factors like duty-free market access, improved workplace safety, and quality products.

A study found that 98.7% of Bangladesh’s RMG workers did not participate in the universal pension scheme (UPS) due to financial constraints (64.7%) and lack of awareness (75.3%). Conducted on 200 workers across key industrial areas, the study highlighted that high premiums under the Progoti scheme and rigid conditions—such as mandatory 10-year contributions and no withdrawal or loan facilities—discouraged participation.

Bangladesh’s merchandise exports grew 5.7% year-on-year in January 2025, reaching $4.43 billion, primarily driven by a 5.57% rise in readymade garment (RMG) exports to $3.66 billion, according to EPB data. Total exports in the first seven months of FY25 rose nearly 12% to $28.96 billion, compared to $25.93 billion in FY24.