- Sep 28, 2020
- Reaction score
- Nation of residence
- Nation of origin
- Guess sourced 27% of its apparel, jewelry and accessories from China in fiscal year 2021, according to its latest sustainability report, a sharp drop from 42% in fiscal year 2020 as the company continues reducing its reliance on China to avoid tariff risk.
- Suppliers from Bangladesh and India made up a larger share of the apparel company's purchases in fiscal year 2021, at about 23.5% and 18%, respectively. In fiscal year 2020, both were at less than 15%.
- Guess said in the report the changes occurred to diversify its sourcing and "as a result of changing economic conditions and purchasing strategy," noting it has reduced volume from countries outside its top sourcing regions to consolidate its supply chain.
The retailer is leaning more on suppliers from Bangladesh and India as tensions between the U.S. and China linger and tariffs persist.
Summit Oil and Shipping Co. Ltd. ("SOSCL"), the private sector importer and supplier of fuel oil to Bangladesh, has signed a Memorandum of Understanding (MOU) with Commonwealth LNG to collaborate in the supply of LNG to Asia, including Bangladesh.
The SOSCL is part of the Summit Group, Bangladesh's largest infrastructure conglomerate.
According to Summit Group, the signing ceremony took place at the Bangabandhu Auditorium of the Embassy of Bangladesh in Washington, DC in the presence of Dr Tawfiq-e-Elahi Chowdhury, Energy Advisor to the Prime Minister.
According to Summit Group, the signing ceremony took place at the Bangabandhu Auditorium of the Embassy of Bangladesh in Washington, DC in the presence of DrTawfiq-e-Elahi Chowdhury, Energy Advisor to the Prime Minister
The government is counting a monthly loss of Tk130 crore due to the delay in laying a high-priority transmission line that would take electricity from the Payra power plant to Dhaka across the Padma River.
According to official sources, the amount is being paid as “capacity payment” to the 1,320MW Payra power plant, a Bangladesh-China joint venture project, which is now ready to supply electricity to the national grid for distribution in Dhaka adjoining areas.
In this case, the capacity payment means the government’s commitment to purchase power generated at the plant at an agreed-upon rate. The government still has to pay the plant for its generation (capacity) even if it is unable to buy electricity from it.
The government is not ready to purchase electricity from the plant as it has failed to complete work on the 164.6 km 400 kV double-circuit transmission line that would supply power from Mongla to Dhaka’s Aminbazar via Mawa connected by the national grid.
The project has hit some hurdles in crossing the mighty river, where a multipurpose bridge is being built to connect Dhaka with the country’s southwestern region.
The project has hit some hurdles in crossing the mighty Padma river