Business
Walton says its Smart TV getting great response in Ireland
Bangladesh’s leading multinational electronics brand Walton’s android smart television is apparently getting a great response in Ireland – displayed and sold in one of the largest retail stores, DID Electrical.
It's a milestone towards the market expansion of Walton's business in Europe and also achieving the vision of becoming a top global consumer electronics brand, said a press release.
Syed Al Imran, vice-president of Walton’s Global Business Division (GBD) and also in-charge of the Europe market, said, “This year, Walton TV expanded its brand business to some European countries including Ireland.”
Walton delivered the first shipment of its 32, 43 and 55-inch android Smart TV to Ireland in April last. Ireland’s renowned consumer electronics appliance company, Sommer Limited, is marketing the Walton brand television, he added.
Read: Walton expands TV business in Georgia
Walton TV’s Chief Business Officer (CBO) Engineer Mostafa Nahid Hossain said the market expansion of TV exports to Ireland is a milestone towards achieving Walton's ‘Go Global 2030’ vision.
Geographically, Ireland is a promising market. Great Britain is its neighbouring country. Walton TV export to Ireland has created the opportunities to expand its brand business to market of Great Britain, he said
Walton is now exporting 'Made in Bangladesh' labelled TVs to more than 35 countries through its hundreds of global business partners. The European market holds almost 95 percent of the total exports of Walton TV.
Bangladesh business delegation to explore trade, investment opportunities in Türkiye
An 86-member business delegation from Dhaka Chamber of Commerce and Industry (DCCI) will leave for Istanbul, Türkiye on Tuesday on a four-day visit.
DCCI President Rizwan Rahman will be leading the business delegation.
The purpose of the visit will be to explore a new scope of business and investment cooperation especially in the diverse manufacturing, general trading and service sectors with a view to identify potential business partners for joint venture investment, attract FDI from Türkiye to Bangladesh and vice versa.
Bangladesh and Türkiye have been maintaining a friendly diplomatic and economic relation since ages, said the chamber body on Monday ahead of the visit.
The long standing bilateral relations between Bangladesh and Türkiye reached a “new height” with increasing trade and investment cooperation in diverse areas.
To steer this friendly economic relation, the DCCI is leading the business delegation to Istanbul, Türkiye.
During this business trip, the delegation will have several interactive business meetings with one of the largest Chambers in the world, the Istanbul Chamber of Commerce, the Foreign Economic Relations Board of Türkiye (DEIK).
Moreover, there will be Türkiye-Bangladesh Business Forum, business to business (B2B) match-makings, industry visits and meetings with the Turkish Trade Minister Mehmet MUS. Members of the DCCI business delegation will also visit a few Industrial Zones of Turkey.
Strengthening business interactions to benefit both Bangladesh, India: BGMEA
– Bangladesh Garment Manufacturers and Exporters Association (BGMEA) on Wednesday said Bangladesh is seeking to harness the potential of man-made fibre (MMF) apparel export as the demand for clothing made of synthetic materials is rising globally.
In alignment with the global trend and demand, the RMG industry of Bangladesh is strongly focusing on diversifying RMG product basket, especially to non-cotton and high-value items, it said.
On the other hand, India has a big textile sector having a considerable capacity of supplying man-made fibre and blended textile products while the country is also a promising destination for Bangladeshi RMG exports.
The business situation has created opportunities for Bangladesh and India to drive development in the RMG and textile industry in both countries.
BGMEA President Faruque Hassan came up with the observations while speaking at a meeting with Dhiraj Raichand Shah, Chairman of The Synthetic & Rayon Textiles Export Promotion Council (SRTEPC).
BGMEA Vice President Shahidullah Azim, Chair of BGMEA Standing Committee on Trade Fair Kamal Uddin, Chair of BGMEA Standing Committee on Cash Incentive Humayun Kabir Salim and Chair of BGMEA Standing Committee on Schedule Bank Md. Israfil Atique were also present at the meeting held at BGMEA Complex in Dhaka.
Read: BGMEA seeks uninterrupted energy supply by special arrangements
Faruque Hassan laid emphasis on increasing more direct business interactions between Bangladeshi RMG exporters and Indian textile products suppliers to strengthen the reciprocal relationship that would be useful for both sides.
SRTEPC Chairman Dhiraj Raichand Shah invited BGMEA to participate in the Source India Mumbai exhibition which will be held in Mumbai from 28th November to 30th November, 2022.
Different categories of the latest range of Indian textile products including Fibre, Yarn, Fabrics for Men’s and Women’s Wear, Home Textiles, Made-ups, Technical textiles, etc. will be displayed in the exhibition.
The BGMEA President invited the SRTEPC Chairman to the “Made in Bangladesh Week” which will be organized by BGMEA to showcase prospects and strengths of the RMG industry.
Bangladesh Bank holds workshop on ‘Trust Fund cum Settlement Management’ for Nagad officials
Bangladesh Bank organized an awareness workshop for the officials of the Bangladesh Postal Department’s mobile financial service Nagad, aiming to provide an overview of the Bangladesh Bank-authorized financial institutions.
The workshop titled ‘Guidelines for Trust Fund Management in Payment and Settlement Services’ was led by Hafia Tazrean, Joint Director of the Bangladesh Bank's Payment System Department which was held at a city hotel in Dhaka recently.
Read: Nagad offers Tk50 cashback on 'add money' from banks
Hafia Tazrean and Tanvir A Mishuk, Founder and Managing Director of Nagad Limited, distributed certificates to the participants at the end of the session.
Besides, Mohammad Aminul Haque, the Executive Director of Nagad Limited, Sheikh Aminur Rahman, the Chief Business Officer, and Md. Nurul Alam, FCS were present from Nagad Limited.
Postal Attaché of Postal Department Masud Khan and Additional Post Master General Al Mahbub represented the Bangladesh Postal Department during the session.
Tanvir A Mishuk, Managing Director of Nagad, thanked Bangladesh Bank at the end of the workshop and said, “Nagad always believes in preserving utmost transparency. We are dedicated to adhering to all Bangladesh Bank policies as the regulating authority. With this in mind, we attended the program to gain more knowledge about Trust Fund.”
The session was conducted to provide information about the financial institutions that have been approved by Bangladesh Bank. Hafia Tazrean, Joint Director of Bangladesh Bank, discussed digital transactions, starting from the initial commodities trade and gold exchange system to banknotes. Throughout the workshop, she emphasized the obligations and duties of non-banking financial organizations.
Read:Nagad to disburse allowances under govt’s employment generation program
The joint director also spoke about Nagad's obligations as an MFS institution and how MFS business can safeguard its customers' funds and the Bangladesh Bank's regulations in this respect. She later discussed what a "Trust Fund" is, how it is administered, and the guidelines for utilizing the Trustcom Settlement Account.
Following the successful completion of the program, certificates were handed to all attendees.
Walton expands TV business in Georgia
Bangladesh's Walton has expanded its business in the eastern European country Georgia by exporting smart TVs.
The company hopes that the export will pave the way for expanding its TV business in other eastern European countries like Armenia and Azerbaijan.
Also read: Walton TV gets good response in Romania
Samin Yasar, the market in-charge of Walton Global Business Division in Georgia, said: "This year, a famous Georgian electronics marketing company has partnered with us to distribute Walton TVs to its market. In June this year, the Georgian company received the first shipment of Walton TVs. The second shipment of Walton TVs will be sent to Georgia very soon."
"Also, Walton TVs are now available on Georgia's e-commerce platforms."
Read Walton TV gets good response in Romania
Syed Al Imran, vice-president of Walton Global Business Division for Europe, said: "Walton started exporting TVs to the European market in 2019. Since then, it has successfully expanded its TV export to around 16 countries in western and central Europe, including Germany, Denmark, Ireland, Poland, Greece, Spain, Croatia, Italy, and Romania."
Bangladesh, Indonesia need to work together as partners: BGMEA chief
Bangladesh Garment Manufacturers and Exporters Association (BGMEA) President Faruque Hassan has said Bangladesh and Indonesia need to view each other as comprehensive friends and partners and expand collaboration to prosper together.
During his meeting with Indonesian Ambassador to Bangladesh Heru Hartanto Subolo on Sunday, the BGMEA chief said collaborative engagement is needed to identify the opportunities and ways to realise them.
BGMEA Vice President Shahidullah Azim, Director Barrister Vidiya Amrit Khan and Chair of BGMEA Standing Committee on Foreign Affairs Shams Mahmud were also present at the courtesy meeting held at the embassy.
They discussed various trade-related issues with special emphasis on possible avenues of collaboration between Bangladesh and Indonesia to unlock mutual trade potential.
They also talked about how both countries can complement each other for the development of the RMG and textile industry.
Bangladesh’s RMG sector has attached due importance to diversification of products, especially high-value non-cotton apparels and technical textiles, according to the BGMEA.
Read: BGMEA chief appraises US govt officials about the significant strides made by RMG industry
While the Indonesian textile sector can meet the demand of Bangladesh’s RMG sector for man-made fibre, Indonesia can import ready-made garments from Bangladesh, said the BGMEA chief.
It would create a win-win situation for both countries, he added.
The BGMEA President invited the Ambassador to the “Made in Bangladesh Week” and also Indonesian RMG and textile businessmen to participate in the weeklong event.
BGMEA in partnership with Bangladesh Apparel Exchange will organise the mega event in Dhaka on November 12-18 this year to promote the apparel industry of Bangladesh globally and showcase its strengths.
How BYLC’s Art and Practice of Leadership workshop is changing the approach to leadership
“I would always wonder if leadership can be taught or if it is an inherent trait,” says Almeer Ahsan Asif. “My perception on leadership and values changed completely after I enrolled in the first cohort of BYLC’s Art and Practice of Leadership workshop.”
Through APL, Almeer learnt that practicing leadership is far more important than being a leader. Anyone can practice leadership, regardless of their age, gender, or socio-economic status. Formal authority is not required to practice leadership.
So, what exactly is this Art and Practice of Leadership that has completely upturned perceptions of thousands of youth like Almeer, who previously were more inclined to give more importance to the role a person held as opposed to the work itself?
Read: BYLC launches development sector-focused career expo in Dhaka
Conceptualized at Harvard University, the Art and Practice of Leadership or APL is a 3-day-long workshop that allows participants to embark on a stimulating introspective journey that develops their leadership potential while acquiring new skills to keep up with a rapidly changing world. Apart from leadership, participants are trained on communication through public speaking, emotional intelligence, problem-solving, and critical thinking skills.
Work, as per this workshop, is always at the center. “The work is more important than the person. It’s not about who is getting the work done but about getting it done. Throughout my career, I’ve given more importance to my work than my position,” says Almeer.
While still a student of Electrical and Electronic Engineering at AIUB, Almeer came to know about the first APL workshop of BYLC. As he was already engaged in various social activities and was involved in work that required leadership, he thought to give the workshop a try. At the very least, he would get a certificate. He didn’t anticipate the program to change the way he thought or the way he addressed problems.
Read: BYLC Ventures hosts Cohort 5 selection bootcamp
He decided to shift to the teaching route; he joined the Teach for Bangladesh fellowship after graduating from AIUB. He taught at Amtoli Staff Welfare School in Mohakhali for two years as a fellow in the inaugural cohort. Later, he joined the curriculum development team of BYLC as an Assistant Manager. In 2017, he received an Executive Education on the Art and Practice of Leadership Development from Harvard University.
Almeer currently acts as the Senior Manager of the Skills Development and Training wing, leading a five-year long project and five departments of BYLC. His students have gone on to make major impacts on their fields, be it the public, private, or civil sectors.
Almeer believes that APL has an unique role in training the millions of graduating students of Bangladesh who, despite their grades, may not have the skills or confidence to demonstrate their employability in the job market. Explaining the importance of learning leadership in career development, Almeer said, “From my days in Harvard, I recall what a CEO of an organization told me. He said, ‘Look, I’ve been in the top position in an organization for 15 years, but I never managed to lead. I only performed the duties attached to the position.’ We want to imbibe our graduates with the passion to learn, grow, and lead.”
Read BYLC Ventures opens applications for 5th cohort
He goes on to add, “Through BYLC’s APL course, the scope of skills development truly expands. In addition to learning about several technical aspects, it becomes easier to find solutions to various problems. There’s so much more to think about beyond your own boundaries.”
So if you think this is right for you, join BYLC's 29th cohort of Art and Practice of Leadership workshop. Please visit bylc.org for more information.
Light engineering products to boost Bangladesh export basket
As Bangladesh seeks to diversify its export basket the focus has been on engineering products and bicycles, which have high demand in international market.
The government has taken several development projects aimed at developing the sectors to meet growing global demand, officials related to the sector said. Bangladesh already exports a significant portion of such products in Europe and African markets.
According to the Export Promotion Bureau (EPB), domestic manufacturing companies earned USD $ 16.80 crore from bicycle exports in the FY 2021-22, an increase by 28.31 per cent from the previous fiscal year.
The Bangladesh University of Engineering and Technology and the National Investment Board estimate that 40,000 small and medium enterprises are running in this sector, providing direct benefit to about 80 lakh people.
Around 400 registered entrepreneurs have set up light engineering industries and related factories in lands provided by Bangladesh Small and Cottage Industries Corporation (BSCIC). The government has also declared the light industry an important sector.
Bangladeshi entrepreneurs are making world-class bicycles and light engineering products, which have high demand in Europe and Africa. The price of a Bangladeshi bicycle is between Tk 5000 to Tk 2 lakh.
Bangladesh exports bicycles mostly to Germany, Denmark, the UK, the Netherlands, Portugal, Belgium, Italy, and Bulgaria.
The country's bicycles export markets have also diversified to countries like Congo, Gabon, and Ivory Coast in South Africa apart from Europe through Red, Feral, and Inigo brands.
The light engineering industries are producing iron castings, bicycles, electronic products, engineering instruments, conductor cables, and stainless steel products. Meeting the domestic demand, the export income from this sector reached to $51 crore in the last FY22.
Read: Economic mismanagement creating instability in market: Debapriya
This sector received export income of $31.1 crore in FY 2009-10, in the FY 2010-11 $30.1, in the FY 2011-12 $37.5 crore, FY 2012-13 $36.7 crore, in FY 2013-14 earned $44.7 crore from the light engineering sector.
The government wants to develop this sector by implementing the project 'Development of light engineering sector and creation of facilities for e-waste processing. Bangladesh Council of Science and Industrial Research (BCSIR) is implementing the project.
The objective of the project is to deliver the services of the light and medium engineering sector of the country to the doorsteps of people. Light Engineering Development Center at Chittagong and Materials Center at Rajshahi and Savar Leather Research Center will be set up under the project.
Chief Scientific Officer of BCSIR Abdul Gafur told UNB that bicycles have come a long way as an export product. The product is now being exported abroad to meet the needs of the country.
Apart from this, iron castings, electronics products, engineering instruments, conductor wires, and stainless steel products are also exported, he said.
Since this is a labour-intensive sector initiatives are being taken further develop the workers’ skills to make the products competitive.
“Light engineering is now a promising sector. We are trying to improve this sector. More support will be given to those involved in it. That is why the project volume is being expanded,” he said.
President of Bangladesh Engineering Industry Owners Association (BEIOA) Abdur Razzak told UNB that the exports rebounded in the FY2021 from three years of falling shipments.
In FY 2021-22 Bangladesh earned a record $51 crore from exporting light engineering products, he said.
"We are hopeful of getting a boost in export in the coming days as the SMEs and micro-industries are trying hard to modernise their enterprises and produce quality products for global market," he added.
Bangladesh: HSBC recognised as market leader in corporate banking, ESG, CSR
The Hongkong and Shanghai Banking Corporation Limited (HSBC) Bangladesh has recently been named as the market leader in highest number of (three) categories in Bangladesh for corporate banking, environmental, social and governance (ESG) and corporate social responsibility (CSR) in a survey done by Euromoney.
This survey is an independent assessment conducted by Euromoney, a leading global financial publication. It evaluates the work done by financial service providers across key banking categories and markets, HSBC Bangladesh said on Sunday.
HSBC Bangladesh said it is proud to be recognised in three different categories for the quality services that the bank has been providing during its long 25 years of service in Bangladesh.
The recognition is an acknowledgement of the strengths of HSBC Bangladesh driven by client-centric approaches all the way through its banking offerings, it said.
Md Mahbub ur Rahman, CEO of HSBC Bangladesh said, “Winning the ’Market Leader’ award and getting recognised by Euromoney inspired us more to serve our customers, society, and environment even better. Three recognitions in the same year- is a testament of the confidence our customers have bestowed on us as to our superior capability and service standards. We are humbled and committed to uphold our excellent performances in the days to come. “
Read: HSBC Bangladesh launches instant payments collection solution for customers
Kevin Green, Country Head of Wholesale Banking, HSBC Bangladesh said this is tremendous recognition for the services they are providing to their clients, the community and the environment.
“These prestigious awards were earned as a result of several notable industry-first transactions we have executed in the last year, reflecting our international footprint and expertise, digital propositions and thought leadership to support our clients in their transition to ’net zero‘. These awards will inspire us to continue the great work in the future,” Kevin Green said.
AIBL organizes seminar marking National Mourning Day
Al-Arafah Islami Bank Limited (AIBL) on Tuesday organized a seminar titled 'Bangabandhu and Bangladesh' marking the 47th Death Anniversary of Father of the Nation Bangabandhu Sheikh Mujibur Rahman.
The event was presided by Managing Director and CEO Farman R. Chowdhury while Director Kh. Mesbah Uddin Ahmed was present, according to a press release.
Read: AIBL signs agreement with Padma Diagnostic
Chairman of the Bank Alhajj Salim Rahman was present as the chief guest on the occasion.
Former Vice-Chancellor of Dhaka University AAMS Arefin Siddique discussed as key speaker on the occasion.
Among others, Deputy Managing Directors and Senior Executives of the Bank participated in the seminar.