Fashion
Strong, timely reforms must for inclusive growth in Bangladesh: WB
The country is expected to maintain an upward growth trajectory in the medium term, but urgent reforms are critical to sustaining growth and job creation, especially for youth and women.
Bangladesh’s economy rebounded in H2 2025 after disruptions in H1, backed by exports, remittances and a rise in foreign exchange reserves, the World Bank said.
It may maintain an upward growth trajectory in the medium term, but urgent reforms are critical to sustaining growth and job creation.
GDP growth is projected to rise to 4.8 per cent in FY26 and 6.3 per cent in FY27 from 4 per cent in FY25.
The document projects gross domestic product (GDP) growth to rise to 4.8 per cent in FY26 from 4 per cent in FY25 and to reach 6.3 per cent in FY27.
External pressures eased in FY25 as a market-based exchange rate was adopted, foreign exchange reserves stabilised, the current account deficit narrowed and exports grew robustly.
Inflation moderated on the back of tight monetary policy, lower essential food import duties and strong harvests. However, the fiscal deficit widened amid weak tax revenue and higher subsidies and interest payments, the World Bank noted.
Poverty increased between 2023 and 2024, and labour force participation fell from 60.9 per cent to 58.9 per cent, with women disproportionately affected. Of the three million additional working-age people outside the labour force, 2.4 million were women.
“The economy has shown resilience, but this cannot be taken for granted,” said Jean Pesme, World Bank division director for Bangladesh and Bhutan.
‘To ensure a strong growth path and more and better jobs, Bangladesh needs bold reforms and faster implementation to address enhance domestic revenue mobilization, banking sector vulnerabilities, reduce energy subsidies, plan urbanization, and improve the investment climate,” he added.
The report calls for an urgent rethinking of spatial development strategies with a focus on reducing regional disparities as way of supporting inclusive job creation nationwide.
Fibre2Fashion News Desk (DS)
The October index read is now at firmly pessimistic levels, albeit still well above the very weak reads seen during the extended ‘cost-of-living’ crisis, according to Westpac.
Australia’s consumer sentiment fell to a six-month low, with the Westpac–Melbourne Institute Index dropping 3.5 per cent to 92.1 in October.
Inflation concerns and uncertainty over interest rates have dampened optimism, particularly regarding family finances, which fell nearly 10 per cent.
Despite weaker confidence, job security fears remain limited.
“Consumers appear to have been rattled by recent updates on inflation. ‘Partial’ measures released over the last month suggest annual inflation has lifted back towards the top of the RBA’s 2–3 per cent target range,” said Matthew Hassan, head of Australian macro-forecasting at Westpac in an article titled, ‘Westpac-MI Consumer Sentiment Bulletin’.
Although the Reserve Bank of Australia’s (RBA) decision to hold rates steady in September provided some relief, sentiment remained firmly pessimistic.
The weakening was most pronounced in expectations for family finances, with the ‘family finances, next 12 months’ sub-index plunging nearly 10 per cent to 97.1—its lowest in over a year. Current assessments also fell 4.8 per cent to 82.1, suggesting that the boost from previous rate and tax cuts may be fading.
Short-term economic outlook expectations slipped 2.5 per cent to 89.9, while longer-term views edged up 1.4 per cent to 94. Meanwhile, the ‘time to buy a major household item’ sub-index dipped 1.1 per cent to 97.2, reflecting continued caution in consumer spending ahead of the holiday season.
Despite weaker confidence, consumers remain largely unconcerned about job security. The Unemployment Expectations Index dropped 2.9 per cent to 127.6. That takes the index slightly below its long-run average but still broadly consistent with a stable labour market.
“The Reserve Bank Monetary Policy Board (MPB) next meets on November 3–4. With inflation within the target range and monetary policy still a little on the restrictive side, the next rate move can reasonably be expected to be down. However, the MPB remains cautious, especially after the stronger than expected result for the August CPI indicator, and it will be sensitive to the flow of data from here. A cash rate cut in November is far from assured, though neither is it off the table,” added Hassan. “And the longer the MPB delays further cuts, the more likely it is that it will end up cutting by more than it currently envisages.”
Fibre2Fashion News Desk (SG)
Translated by
Nazia BIBI KEENOO
Published
October 8, 2025
By launching its integrated Instant Checkout payment tool in the United States, ChatGPT (OpenAI) now allows users to purchase products directly within its platform. The move marks a significant milestone in how generative AI can reshape online shopping and challenge traditional search-engine-driven commerce models.
A user can describe to ChatGPT the product they want, include a budget, and receive a curated selection of items, all without leaving the platform. The system is built on the open-source Agentic Commerce Protocol, developed in collaboration with Stripe, enabling merchants to integrate it quickly. Merchants pay a “small commission” on each purchase, while the service is free for customers.
“For sellers, it’s a new way of reaching hundreds of millions of people while retaining full control of their payments, systems and customer relationships,” OpenAI explained, adding: “We are building out this protocol, with documentation available from today, to enable interested merchants and developers to begin creating integrations.”
While Etsy is the first platform involved, OpenAI said more than a million merchants on Shopify — as well as brands such as Glossier, Skims, Spanx and Vuori — will soon join the offering. On the technical side, ChatGPT is introducing a “multi-basket” feature to enable the simultaneous purchase of multiple products from different sellers.
OpenAI stated that product recommendations are based solely on relevance to a user’s query and are therefore “organic and unsponsored.” However, industry observers note that sponsored results could appear in the future.
Beyond the immediate retail implications, ChatGPT’s entry into e-commerce highlights a shift that challenges the dominance of traditional search engines. Google’s advertising-funded keyword model has long influenced both paid and organic search engine optimization (SEO) strategies across various industries.
Search engines and e-tailers on high alert
International studies over the past year have tracked a growing shift of users from search engines to conversational AI. According to the agency Innovating with AI, Google’s market share dropped below 90% for the first time since 2015. An AI Search Archetypes survey conducted in the spring reported that 43% of users now rely on AI daily for their searches.
Major technology players are responding in kind: Alphabet’s Google has rolled out Gemini; Microsoft is advancing Bing AI; Apple is evolving Siri into “Apple Intelligence”; and Samsung is investing in Galaxy AI. Retailers have also been integrating AI into their platforms to meet the rising expectations of consumers.
In fashion, Amazon, the largest clothing retailer in the United States, introduced Rufus a year ago, an AI tool that enables shoppers to find products by describing them in natural language. Europe’s leading online fashion retailer, Zalando, has launched its own AI-powered search assistant.
ChatGPT, which reports more than 700 million weekly active users, may become a new type of marketplace by combining conversational search with seamless checkout.
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Copyright © 2025 FashionNetwork.com All rights reserved.
By
Reuters
Published
October 8, 2025
The Italian government cannot intervene in a future sale of a stake in the luxury fashion house Armani using its “golden powers,” even if a deal involved a foreign company, Italy’s industry minister told Reuters.
“Armani doesn’t fall within the scope of national security,” Adolfo Urso said on the sidelines of an event late on Tuesday when asked whether Rome could apply such measures. The so-called golden powers enable Italy’s government to block or impose conditions on foreign and domestic corporate acquisitions in strategic sectors, such as energy, telecommunications, and banking.
Urso noted that the late Giorgio Armani’s plans for the company he led for 50 years were clear and outlined in his will, indicating that current regulations do not allow government intervention.
In his will, Armani instructed that an initial 15% stake in the fashion house be sold within 18 months of his death and that an additional 30% to 55% stake be transferred to the same buyer or that the company seek a market listing.
The will gave priority to luxury conglomerate LVMH, beauty group L’Oreal and eyewear maker EssilorLuxottica, with which the fashion house maintains a commercial partnership.
Giorgio Armani, who built the brand into one of Italy’s most iconic fashion houses, died last month at the age of 91.
© Thomson Reuters 2025 All rights reserved.
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