Wednesday, September 30
Aditya Birla Group has outlined an ambitious goal: transforming four of its lifestyle labels—Louis Philippe, Van Heusen, Allen Solly, and Peter England—into billion-dollar brands within the next ten years, The Times of India reported on June 24. The company believes changing consumer habits, rising income levels, and a strong shift towards branded fashion will fuel this growth, said the report (by Reeba Zachariah).Currently, the combined sales of these four brands reflect growing strength, even if they haven't crossed global benchmarks yet. Louis Philippe and Van Heusen each post over Rs 2,000 crore in annual sales. Allen Solly and Peter England bring in more than Rs 1,000 crore each. By contrast, Raymond, owned by Gautam Singhania, generates revenue exceeding Rs 3,000 crore annually.A
The International Monetary Fund said on Monday that Bangladesh will have access to $1.33 billion as the fund has concluded a combined third and fourth review of the country under three facilities. Bangladesh will have immediate access to $884 million under the IMF's Extended Credit Facility and Extended Fund Facility, and receive another $453 million under the Resilience and Sustainability Facility, the fund said. IMF also approved an augmentation of 567.2 million special drawing rights or SDRs under its ECF and EFF arrangements with a six-month extension. Bangladesh had requested the augmentation in May to address rising external financing needs and support macroeconomic stability. "Bangladesh's program performance has been broadly satisfactory despite the difficult political and economic
