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Nikkei Asia
2 days ago
- Business
- Nikkei Asia
Bangladesh clothes sector hit by trade barriers, internal turmoil
DHAKA -- Double-digit growth in Bangladesh's vital garments sector has put an unexpected gloss on an industry battling U.S. tariffs, Indian trade restrictions and continued domestic political upheaval -- a perfect storm of internal and external challenges that threatens to substantially crimp that expansion. The latest trade blow to the ready-made garments (RMG) sector, which accounts for about 80% of the country's exports and provides employment to millions, came on May 17 when India imposed restrictions on the import of certain goods, including RMGs, at land ports. That move, made in response to a Bangladeshi ban on yarn imports through the same ports, affects approximately 42% of Bangladeshi exports to India and requires the slower and more expensive use of seaports.
Business Recorder
3 days ago
- Business
- Business Recorder
PRGMEA opposes 18pc tax imposition under EFS
LAHORE: The Pakistan Readymade Garments Manufacturers & Exporters Association (PRGMEA) on Wednesday opposed any move to impose 18 percent sales tax on exporters under the Export Facilitation Scheme (EFS) and warned that such regressive measures will paralyze the garment export sector, stifle cash flow, and derail Pakistan's opportunity to capture a significant share of the global apparel market. Reacting to the proposals suggesting that the government is planning to slap a hefty tax burden on exporters, the PRGMEA voiced serious concern over what it described as a deliberate campaign by vested interests in the domestic textile sector to weaken the growth potential of the country's most dynamic and value-added industry — the ready-made garments (RMG) sector. The association called for the immediate withdrawal of any such proposal and demanded that the EFS remain untouched and fully functional to support exporters with timely and hassle-free access to tax-free inputs. Dr Ayyazuddin, PRGMEA Regional Chairman, stated that the EFS is not a luxury — it is a necessity for export-led growth. The garments industry is entirely export-oriented and sits at the end of the textile value chain, bearing the brunt of delayed refunds and multiple taxes. Exporters already pay sales tax upfront and wait for months to receive refunds, often facing a three-month delay, which severely hampers cash flow and operational capacity. Imposing additional taxes on top of this already burdensome system would be disastrous. Copyright Business Recorder, 2025
The Hindu
3 days ago
- Business
- The Hindu
Offshore betting ads top complaints to ASCI in 2024–25
Advertisements promoting offshore betting and gambling platforms constituted the largest share of complaints received by the Advertising Standards Council of India (ASCI) in 2024–25, the self-regulatory body said in its Annual Complaints Report. Of the 7,078 advertisements reviewed by ASCI, 43.52% — or over 3,000 — were related to offshore betting and gambling. These platforms, routinely banned by the Ministry of Electronics and Information Technology, have witnessed rapid proliferation online, prompting concerns among stakeholders in the real money gaming (RMG) sector. 'ASCI has been escalating advertisements that are prohibited by law to appropriate regulators for appropriate action,' the report noted. The number of such advertisements increased from 2,707 in 2023–24 to 3,347 in the past year. These include promotions related to betting and gambling, prohibited drugs making magic health claims, alcohol, and tobacco. The volume of gambling-related advertisements has more than doubled, ASCI said, 'from 1,311 the previous year to 3,081 cases this year.' Several of these were flagged in collaboration with RMG industry associations, which established a 'special monitoring unit' in January 2025 to aid detection. ASCI also reported continued cooperation with sector-specific regulators. A similar monitoring arrangement with MahaRERA, Maharashtra's real estate regulatory authority, resulted in the identification of 1,755 non-compliant advertisements in the real estate sector. The second-largest category of flagged advertisements was submitted to the Ministry of AYUSH under the Drugs and Magic Remedies (Objectionable Advertisements) Act, 1954. ASCI reported 233 ads promoting products as miracle cures in violation of the Act. 'Twenty-one ads directly promoting alcoholic beverages on social media were reported to the Ministry of Information & Broadcasting,' the report added. Influencer marketing also remained a significant area of concern. ASCI said it investigated 1,015 ads by influencers over the year. 'Out of 100 influencer posts reviewed, only 29% had proper disclosures, while 2% cases were dismissed due to evidence of no material connection,' the body said. 'Alarmingly, 69% violated disclosure norms, with 56.8% lacking disclosure labels entirely and 43.2% having disclosures improperly placed within hashtags.' While 59 influencers agreed to corrections voluntarily, five complied after jury recommendations. Another five influencers (7%) were escalated to the Ministry of Information & Broadcasting for continued non-compliance. The fashion and lifestyle (27.5%), telecom products (21.7%), and personal care (13%) sectors accounted for 62% of all influencer-related violations, ASCI said.
India.com
24-05-2025
- Politics
- India.com
Bangladeshs Muhammad Yunus Will Not Resign
After speculation over the resignation of the Chief Adviser of Bangladesh's interim government, Muhammad Yunus, it was clarified that he will not step down, according to the news agency ANI. ANI reported that Yunus will not be leaving the country, and an unscheduled meeting of the Advisory Council was held on Saturday, after the National Economic Council meeting. The meeting discussed the three primary responsibilities — elections, reforms, and justice — assigned to the interim government. #WATCH | Dhaka | Muhammad Yunus, the Chief Adviser of Bangladesh's interim government, will not resign, nor is he leaving the country. Quashing all such rumours, an unscheduled meeting of the Advisory Council was held today, after the National Economic Council meeting. The… — ANI (@ANI) May 24, 2025 Furthermore, according to IANS, Yunus chaired a two-hour-long unscheduled meeting of the Advisory Council at the Planning Commission office in Dhaka on Saturday amid political tensions and growing speculation over the continuity of the interim government, which had also reportedly led to his offering resignation from the post of Chief Advisor. "Despite all obstacles, the Interim Government continues to fulfil its responsibilities by putting national interests above group interests. However, if — under the instigation of defeated forces or as part of a foreign conspiracy — the performance of these responsibilities becomes impossible, the government will present all reasons to the public and then take the necessary steps with the people," a statement issued by the Advisory Council after the meeting. Political Scenario In Bangladesh The political parties of Bangladesh, including the newly formed National Citizen Party (NCP) and the Bangladesh Nationalist Party (BNP), had demanded that the interim government announce a clear plan for the national elections. IANS also reported that Yunus had expressed his desire to step down, and this led to a buzz in the politics of Bangladesh. Bangladesh Army Chief General Waker-Uz-Zaman also said that the next national election should be held by December and an elected government should be in power by January 1, 2026. Reportedly, there have been incidents of protests, crime, and violence in the neighbouring country. The Nobel Laureate Yunus-led interim government had assumed power last August. India-Bangladesh Ties After India placed curbs on Bangladeshi exports via land ports, Dhaka's interim government said that it wants to resolve trade issues with New Delhi. An Adviser to the interim government said that Bangladesh wants to discuss all issues with India, ANI reported. Recently, India had banned the import of Ready Made Garments (RMG), Fruit/Fruit flavoured and carbonated drinks, baked goods, snacks, chips and confectionary, cotton and cotton yarn waste, plastic and PVC finished goods and wooden furniture from Bangladesh by road.
Yahoo
23-05-2025
- Science
- Yahoo
US scientists simulate how tens of thousands of electrons move in materials in real time
Scientists have developed a simulation that can predict how tens of thousands of electrons move in materials in real time, or natural time rather than compute by a team from the Department of Energy's Oak Ridge National Laboratory, in collaboration with North Carolina State University, the model combines ORNL's expertise in time-dependent quantum methods with NCSU's advanced quantum simulation revealed that the latest effort is vital in designing new technologies such as advanced photovoltaic cells and emerging information systems. They underlined that by directly observing thousands of electrons in real-time, scientists gain powerful insights into how materials respond at the quantum in the Journal of Chemical Theory and Computation, the team developed a real-time, time-dependent density functional theory, or RT-TDDFT, capability within the open-source Real-space Multigrid, or RMG, code to model systems of up to 24,000 is a quantum mechanical method that allows researchers to simulate how electrons move and interact in materials over time, once they are excited by an external stimulus. It works by calculating how the electron density in materials changes in response to the application of electric and electromagnetic fields (i.e. light), for instance. Researchers highlighted that the real-time, time-dependent describes the real-time evolution of the wavefunction or quantum-mechanical property. 24,000 electrons is about the same size as treating 4,000 carbon atoms or 2,400 water molecules treating the time evolution of all their electrons. "Think of it like watching a slow-motion replay of all the electrons in a tiny piece of metal responding to a flash of light, but at an incredibly detailed, quantum level," said ORNL's Jacek Jakowski."Our calculations are so large that they require one of the world's fastest supercomputers to run them in 'real time'. By capturing these electron movements at scale, we can predict how new materials will behave, potentially leading to more efficient photovoltaic cells, faster computers, and better quantum technologies." The study revealed that their method offers insights into nonequilibrium dynamics and excited states across a diverse range of systems, from small organic molecules to large metallic nanoparticles. Benchmarking results demonstrate excellent agreement with established TDDFT implementations and showcase the superior stability of our time integration algorithm, enabling long-term simulations with minimal energy drift. Researchers also highlighted that metallic nanoparticles, or metals with dimensions within 1-100 nanometers, have unique optical properties caused by the way thousands of electrons within these metals interact with incoming light. It's critical for researchers to understand the ways these electrons move under a range of conditions to advance these new technologies. The challenge in moving these technologies forward has been capturing these ultrafast electron dynamics in realistic nanoscale materials, or materials where at least one dimension is on the scale of nanometers, according to a press release. The study underlined that the achievement enables the design of novel materials with tunable optical, electronic and magnetic properties and opens the door to new innovations in optical and quantum information devices. "These developments hold great promise for creating novel devices with tailored electronic, optical and magnetic properties," said Professor Bernholc. "Ultimately, we hope our real-time approach will guide experimental efforts and accelerate breakthroughs in areas ranging from spintronics to quantum information science." Next steps for the project include simulating even more complex scenarios to discover new physics in quantum systems and enhancing efficiency and accuracy to handle larger, more intricate simulations, as per the release.
