Business
13 exhibitors from Bangladesh participate in Texworld Apparel Sourcing in France
Thirteen exhibitors from Bangladesh have participated in the Texworld Apparel Sourcing at the Porte de Versailles Exhibition Centre in Paris, France.
More than 1,280 exhibitors from 28 countries participated at the event that ended on Wednesday, according to a press release.
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Bangladeshi exhibitors displayed the global range of fashion products along with major manufacturing countries including Pakistan, China, India, Indonesia, Korea, Turkey, and Taiwan, it said.
The Denim Village at the event offered raw materials and finished products from Bangladesh, China, India, and Pakistan.
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Among the 13 Bangladeshi companies, Asia Links Design and Sara Fashionwear represented clothing fashion; in the denim segment, products were on display from Aaron Denim, Argon Denim, NZ Denim, and Pioneer Denim, the release said.
"We are very satisfied with the fair; it was well organised, and the turnout was great. We participated in this fair for the first time and got buyers from many European countries; hopefully we will have a fruitful business with them,” said Ahasan Habib Rabi, deputy manager (Research & Development) of Amanat Shah Fabric.
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"TAD Group is one of the largest apparel sourcing and manufacturing companies in Bangladesh. We are exhibiting again at Texworld and sourcing apparel in Paris. We are very happy with the crowd this year; we are very busy with customer inquiries from all over the world. We hope this fair will benefit the Bangladeshi garment companies exhibiting this year,” said Hadayet Ullah Mahmud, Head of Design and Product Development at TAD Group.
Bangladesh’s statutory payment ecosystem ever-evolving: HSBC
Bangladesh’s progress in modernising its statutory payments ecosystem reflects its commitment to embracing digital growth, said Gerard Haughey, Wholesale Banking Head of HSBC Bangladesh.
"HSBC specialises in providing cross-border banking services, enabling customers to seamlessly conduct transactions and manage their finances across different countries. Its international connectivity works as an enabler to propel business growth ambitions," he said.
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HSBC recently organised an event titled “HSBC Innovation Forum—Statutory Payments Landscape in Bangladesh and Way Forward, according to a media release on Thursday.
The event was an opportunity to share knowledge and views on the advancement of digital payment systems in the country, it said.
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The event highlighted HSBC’s continuous contribution to the development of electronic payment solutions that enable customers to execute banking transactions from any location.
“Transformation of payment systems to digital methods is a global trend, and Bangladesh has been making significant strides in this regard. HSBC is happy to be a partner in this journey," said Manoj Dugar, Regional Co-Head, Global Payments Solutions, HSBC.
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"HSBC's network and connectivity enable efficient and secure international payments and remittances. Customers can transfer funds across borders, access foreign currency services, and benefit from competitive exchange rates, bolstering international connectivity for individuals and businesses,” he added.
Kazi Mostafizur Rahman, Commissioner, Customs Risk Management Unit, iVAS Unit, National Board of Revenue; Md. Sharafat Ullah Khan, Director, Payment Systems Department Bangladesh Bank; Suvendu Chowdhury, Chief Financial Officer (CFO); and Linde Bangladesh, among others, were present at the programme.
3-day BAJUS Fair begins in Dhaka Thursday
A three-day BAJUS (Bangladesh Jewellers’ Association) fair will begin at the International Convention City Bashundhara (ICCB) in Dhaka on Thursday.
This year, the theme of the fair is “Shonay Biniyog, Bhobishshoter Shanchay” (Invest in gold, save for the future), according to a press release.
Around 41 jewelry businesses will be participating in the largest gold fair, or “BAJUS Fair-2024", it said.
The fair, comprising nine pavilions, 17 mini pavilions, and 15 stalls, will remain open for visitors every day from 10 am to 9 pm.
The ticket price of the fair will be Tk100, while children aged five years or younger will not require a ticket to enter it.
AK Azad made chairman of Shahjalal Islami Bank
Ha-Meem Group Managing Director AK Azad, MP, has been elected as the chairman of Shahjalal Islami Bank PLC (SJIB).
He was elected chairman at the 373rd meeting of the bank's board of directors. At the same meeting, Mohammad Yunus was elected as a new vice chairman, and Mohiuddin Ahmed was re-elected as vice chairman, according to a press release on Wednesday.
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AK Azad is a prominent industrialist and successful businessman. He was born in 1959 into a noble Muslim family in Faridpur District, the release said.
Azad started business after receiving his honours degree in applied physics from Dhaka University.
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He has been involved in the jute, textile, tea, and ready-made garment industry business for a long time and continues to make a unique contribution to the national economy with employment.
He is also the managing director of Channel 24 Television, and Dainik Samakal added the release.
END/UNB/AI/MB
BCC to organize a job fair for disabled people Feb 10
Bangladesh Computer Council (BCC) of ICT Division is going to organize a job fair in the capital Dhaka with the aim of providing employment to specially-abled or disabled people.
The fair is being organized in collaboration with the Centre for Services and Information on Disability (CSID), said a press release.
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On February 10, 2024, Saturday morning, the day-long fair will be organized at the office building of the NGO Affairs Bureau in Dhaka’s Agargaon.
The state minister for Posts, Telecommunications and Information Technology Mr. Zunaid Ahmed Palak, MP will inaugurate the job fair 2024 as the chief guest.
According to the release, about 500 job seekers have already submitted online applications.
Of them, efficient and skilled people in computer education have been called to face interviews at the fairground.
The organizing authorities are expecting that it would be possible to give jobs to around 50 people at the fair while more than 200 job candidates will be shortlisted for interview for subsequent recruitment.
Coordinator of the job fair and Manager (Systems) of BCC Golam Rabbani said that the BCC has been giving training on ICT to the people with disabilities at free of cost since 2011.
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The job fair is organized mainly to give jobs to persons who have taken training in ICT from BCC, he said, adding, over 900 persons with disabilities skilled in ICT have got jobs through the fair since 2015.
ICT-based institutions belonging to different trade bodies or associations, including Bangladesh Association of Software and Information Services (BASIS), e-Commerce Association of Bangladesh (e-CAB), and Bangladesh Association of Contact Center and Outsourcing (BACCO) member organizations, will participate in the fair.
ITFC to provide $2.1 bln in loan to Bangladesh to facilitate smooth import of petroleum fuel, LNG
International Islamic Trade Finance Corporation (ITFC) will provide $2.1 billion in loan to Bangladesh to facilitate the smooth import of petroleum fuel and LNG.
Jeddah-based ITFC and Energy and Mineral Resources Division of Bangladesh signed an agreement in this regard under Annual Financial Plan Negotiation for FY 2024-25 on Wednesday at the ministry.
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The ITFC is a member of the Islamic Development Bank (IDB) Group.
Stare Minister for Power, Energy and Mineral Resources Nasrul Hamid was present on the occasion.
Under the credit agreement, the IITFC will finance state-owned Bangladesh Petroleum Corporation (BPC) to import petroleum fuels and state-owned Petrobangla to import liquified natural gas (LNG).
Energy and Mineral Resources Secretary Md Nurul Alam and chief operating officer and head of the ITFC delegation Nazeem Mooradali signed the agreement on behalf of the respective sides.
Nasrul Hamid told reporters that Bangladesh has been receiving financial support from the ITFC of IDB for long.
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He said this credit support will help the government to smoothly import the petroleum fuel and LNG.
He said that $1.6 billion will be utilised to import the petroleum fuels while remaining $500 million will be used to import LNG.
FBCCI seeks continuation of export incentive until 2026
The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) wrote to the Ministry of Finance to retain the cash incentive facility in the export sector until 2026.
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In a letter to the ministry, FBCCI president Mahbubul Alam said, "Since there is an scope to provide cash assistance till 2026, it is necessary to maintain this.”
He also urged the ministry to increase the incentive in some fields if possible.
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The FBCCI president wrote the letter to the ministry on February 3.
Bangladesh Bank (BB) on January 30, 2024, announced stopping of the cash benefits for 43 export sectors, including readymade garments and leather, for six months up to June this year as part of Bangladesh's preparations for graduation from LDC status.
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Bangladesh seeks extended credit terms from Saudi Arabia amid dollar crisis: Salman F. Rahman
During a recent trip to the Kingdom of Saudi Arabia (KSA), Salman Fazlur Rahman, Prime Minister’s Advisor on Private Industry and Investment, sought extended credit terms to alleviate Bangladesh's pressing dollar crisis. This request was made to facilitate longer payment periods for fuel imports from Saudi Arabia, a critical concern given the current financial constraints.
In a press briefing held on Tuesday (February 06, 2024) at the Bangladesh Investment Development Authority (BIDA) building upon his return, Rahman shared insights from his three-day visit. “Currently, we have a 45-day window to settle payments for fuel imports from Saudi Arabia. Given the dollar scarcity, extending this to a year would greatly benefit us. The Saudi officials have agreed to consider this proposal,” Rahman disclosed.
Rahman represented Bangladesh at the Islamic Military Counter Terrorism Coalition (IMCTC) meeting, emphasizing Bangladesh’s firm stance against terrorism and the misuse of Islam to justify such acts. “Terror has no religion, and by fostering cooperation among Islamic nations through the IMCTC, we aim to combat the defamation of Islam by terrorism,” he stated.
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The advisor highlighted the unanimous condemnation of the ongoing crises in Gaza by meeting participants, alongside a collective call for resolution. The plight of the Rohingya refugees in Bangladesh was also addressed, with a commitment to seek solutions.
On the economic front, Rahman revealed Saudi investors’ interest in establishing a special economic zone in Bangladesh. “We are keen to allocate an economic zone to Saudi Arabia within Bangladesh. Their investment minister has shown enthusiasm for this project,” Rahman noted.
Additionally, plans are underway to bolster Bangladesh’s agricultural sector through the joint establishment of a urea fertilizer plant in Saudi Arabia. “This collaboration aims to ensure a steady supply of fertilizers, enhancing our agricultural output. The proposal has been warmly received, with a feasibility study due to conclude by March,” he explained, highlighting the opportunity for private sector involvement alongside government-to-government initiatives.
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Workplace Burnouts: Causes, Symptoms, Signs, and Remedies
Do you often feel anxious and stressed out due to work pressure? If such mental status continues for long, it can lead to burnouts and impact on your health. The term burnout refers to emotional, physical, and mental exhaustion from prolonged stress.
In today's hectic settings, individuals are gripped in job or career pressures that slowly depletes motivation – leaving them overwhelmed and drained.
Burnouts may occur due to personal life and job related issues. This article unravels the reasons behind burnout in the workplace, addresses its subtle symptoms, and advocates for preventive measures for a balanced lifestyle.
Types of Burnouts at Work
Overload Burnout
Overload burnout is a familiar and prevalent type. It occurs when individuals strive relentlessly for success at the expense of their health and personal lives.
Often affecting dedicated employees, this burnout stems from working at an unsustainable pace, driving individuals to physical and mental exhaustion. Coping mechanisms involve venting emotions and overcommitting to problem-solving, adding to stress levels.
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Under-Challenged Burnout
Contrary to overload, under-challenged burnout arises from doing too little. Individuals experiencing this type feel bored and unstimulated in their roles, leading to a lack of motivation.
The absence of learning opportunities, growth prospects, and meaningful connections can result in frustration and a sense of being underappreciated. Adaptation strategies include avoidance tactics like distraction or dissociation.
Neglect Burnout
Also known as worn-out burnout, neglect burnout emerges when individuals feel helpless in the face of workplace challenges. It results from a lack of structure, direction, or guidance, making it difficult to meet expectations.
Over time, this leads to feelings of incompetence, frustration, and uncertainty. Coping through learned helplessness, individuals believe they cannot positively impact their circumstances. Eventually, it becomes passive and disengaged when faced with challenges at work.
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Indonesian Ambassador and BGMEA President discuss bilateral trade opportunities
Ambassador of Indonesia to Bangladesh Heru Hartanto Subolo paid a courtesy call on Faruque Hassan, President of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) February 6.
The meeting focused on fostering collaboration and enhancing bilateral trade relations between the two countries, with a particular emphasis on the apparel and textile sector.
Discussions also included various trade-related issues, with both parties expressing a strong interest in identifying new avenues for collaboration to unlock the full potential of mutual trade and investment.
BGMEA President Faruque Hassan apprised the envoy of Bangladesh’s increased emphasis on diversification of garments, particularly in the production of high-value apparels using man-made fibers.
Bangladesh can import man-made fiber, yarn from Indonesia, he said.
Faruque Hassan urged Ambassador Heru Hartanto Subolo to encourage Indonesian businesses to invest in the man-made textile sector in Bangladesh, emphasizing the potential for a mutually beneficial partnership, said a media release.
He pointed to the industry’s interest in increasing apparel exports to Indonesia and sought cooperation of the ambassador.
Faruque Hassan also requested the Ambassador for his support in establishing collaboration between BGMEA University of Fashion and Technology (BUFT) and Indonesian fashion institutes.
The aim is to enhance the knowledge and skills of BUFT students in areas such as fashion design, product development, technologies, and other relevant fields.