Bizdata Insights Main Logo

BizData Insights

Dird Washing Laid Off 300 Workers

Industry: RMG & Textile, Textile
Company: DIRD GROUP
Company Intelligence Tag: Business Insights

Dird Washing Limited, a unit under Dird Group, has laid off approximately 300 workers due to a lack of work orders, marking the fourth closure within the Dird Group this year. The layoff notice, dated October 19,2023, was posted on the factory gate in Savar’s Rajfulbaria, following the Bangladesh Labour Act 2006 regulations. The company cited the absence of orders as the reason for the layoff, expressing intentions to resolve the issue after discussions with the affected workers. The head of human resources at Dird Group, emphasized the management’s commitment to ensuring workers’ payments. Some employees had salary arrears ranging from five to 11 months, adding to the challenges they face. Labor advocates urged the factory’s swift reopening. Earlier this year, Dird Garments Ltd, Dipta Garments Ltd, and Dipta Apparels Ltd, all part of Dird Group, ceased operations due to similar challenges.

Source for more details:

Related News

Islami Bank Faces Uncertainty Over Tk 8,279 Crore Recovery

September 7, 2024

Islami Bank Bangladesh is facing uncertainty over recovering Tk 8,279 crore provided as liquidity support to  four banks—First Security Islami Bank, Union Bank, Social Islami Bank, and Global Islami Bank—and one non-bank financial institution, Aviva Finance. 

Dhaka Stock Exchange’s DSEX Rises by 500 Points

September 7, 2024

The Dhaka Stock Exchange (DSE) benchmark index, DSEX, surged by 500 points in the past month, reaching 5,728.64 on September 4, 2024, up from 5,229.26 on August 4. Turnover increased from Tk 207 crore to Tk 674 crore, peaking at Tk 2,010 crore on August 11. The rise follows political changes and reforms by the interim government, including new leadership at the Bangladesh Securities and Exchange Commission (BSEC) and Dhaka Stock Exchange (DSE).

Walton Declares 350% Cash Dividend

September 7, 2024

Walton Hi-Tech Industries PLC declared a 350% cash dividend for general shareholders and a 200% cash dividend for sponsors and directors for the financial year 2023-24. General shareholders will receive Tk 35 per share, while sponsors and directors will get Tk 20 per share.

Apparel Exports to US Fall by 10.27%

September 7, 2024

Bangladesh's apparel exports to the US saw a 10.27% decline, totaling $4.09 billion during January-July 2024, down from $4.56 billion the previous year. Export volume also fell by 4.55%. Meanwhile, competitors like China and Vietnam outperformed Bangladesh, despite their own declines.

UCB Board Cancels Tk 500 Million Mutual Fund Investment

September 7, 2024

The new board of United Commercial Bank (UCB) has cancelled a Tk 500 million investment plan in a close-ended mutual fund, initially approved by the previous board. The previous board, dominated by the family of former land minister Saifuzzaman Chowdhury, was dissolved by the Bangladesh Bank on August 27. The change followed political shifts after the fall of the Hasina-led government. Following the cancellation, UCB's stock rose 1% to Tk 12.30 per share. UCB reported a profit of Tk 1.27 billion for the first six months of 2024.

Eastland Insurance Rebrands as Eastland Insurance PLC

September 7, 2024

The Registrar of Joint Stock Companies & Firms (RJSC) and the Insurance Development & Regulatory Authority (IDRA) have approved the name change of Eastland Insurance Company from "Eastland Insurance Company Limited" to "Eastland Insurance PLC," effective immediately, according to a press release.

Related News

Islami Bank Faces Uncertainty Over Tk 8,279 Crore Recovery

September 7, 2024

Islami Bank Bangladesh is facing uncertainty over recovering Tk 8,279 crore provided as liquidity support to  four banks—First Security Islami Bank, Union Bank, Social Islami Bank, and Global Islami Bank—and one non-bank financial institution, Aviva Finance. 

Dhaka Stock Exchange’s DSEX Rises by 500 Points

September 7, 2024

The Dhaka Stock Exchange (DSE) benchmark index, DSEX, surged by 500 points in the past month, reaching 5,728.64 on September 4, 2024, up from 5,229.26 on August 4. Turnover increased from Tk 207 crore to Tk 674 crore, peaking at Tk 2,010 crore on August 11. The rise follows political changes and reforms by the interim government, including new leadership at the Bangladesh Securities and Exchange Commission (BSEC) and Dhaka Stock Exchange (DSE).

Walton Declares 350% Cash Dividend

September 7, 2024

Walton Hi-Tech Industries PLC declared a 350% cash dividend for general shareholders and a 200% cash dividend for sponsors and directors for the financial year 2023-24. General shareholders will receive Tk 35 per share, while sponsors and directors will get Tk 20 per share.

Apparel Exports to US Fall by 10.27%

September 7, 2024

Bangladesh's apparel exports to the US saw a 10.27% decline, totaling $4.09 billion during January-July 2024, down from $4.56 billion the previous year. Export volume also fell by 4.55%. Meanwhile, competitors like China and Vietnam outperformed Bangladesh, despite their own declines.

UCB Board Cancels Tk 500 Million Mutual Fund Investment

September 7, 2024

The new board of United Commercial Bank (UCB) has cancelled a Tk 500 million investment plan in a close-ended mutual fund, initially approved by the previous board. The previous board, dominated by the family of former land minister Saifuzzaman Chowdhury, was dissolved by the Bangladesh Bank on August 27. The change followed political shifts after the fall of the Hasina-led government. Following the cancellation, UCB's stock rose 1% to Tk 12.30 per share. UCB reported a profit of Tk 1.27 billion for the first six months of 2024.

Eastland Insurance Rebrands as Eastland Insurance PLC

September 7, 2024

The Registrar of Joint Stock Companies & Firms (RJSC) and the Insurance Development & Regulatory Authority (IDRA) have approved the name change of Eastland Insurance Company from "Eastland Insurance Company Limited" to "Eastland Insurance PLC," effective immediately, according to a press release.

BUSINESSMONITOR

Connect with


Dont Have Account? Please register Here