PowerPac Economic Zone Private Limited signed a Land Lease Agreement (LLA) with Bashundhara Industrial Complex Limited (BICL) to provide 30 acres of land for a bag manufacturing plant at Mongla economic zone.
The LLA was signed between the PowerPac and the BICL at a function at the Sonargaon Hotel in the city on Sunday in presence of Mr Paban Chowdhury, Chairman of BEZA and All senior officials of Bangladesh Economic Zones Authority (BEZA), said a press release.
Sayem Sobhan Anvir, Managing Director, Bashundhara Group and John Haque Sikder, Group Director, PowerPac Economic Zone Pvt. Limited, signed the agreement while top officials of both sides were present in the event.
As per the agreement, the BICL has been allocated 16 acres of land at Mongla economic zone for setting up bag manufacturing plant to support their prevailing requirements. The plant will help increase employment opportunities as well as play a major role to improve the national economy.
PowerPac Economic Zone (Pvt.) Limited, a concern of Sikder Group, the first company that was awarded with a license for 50 years to Design, Build, Finance, Own, Operate and Transfer (DBFOOT) 205 acres land of Mongla Economic Zone, Bagerhat under Public Private Partnership (PPP) model with the support of Bangladesh Economic Zones Authority (BEZA).
Mongla Economic Zone is potentially the most lucrative economic zone in Bangladesh due to its strategic location within a 1-kilometre radius of Mongla Port, which is the second biggest seaport of the country. The proposed site for the planned Khan Jahan Ali Airport is located only 20 Kilometer away from the zone.
The completion of the Padma Bridge, flagship infrastructure project of the country’s first 50 years, will itself open up a number of options for time-efficient transportation through road and rail connecting the southwest part of Bangladesh. This will play a vital role to increase the demand of Mongla Economic Zone (M.E.Z.) as well as Mongla Port.
M.E.Z. is now fully developed for setting up factories. Various infrastructure development activities are going on there to the tune of over Tk300 crore.
The zone is legally considered to be a custom bonded area. As such, Ansar contingent is deployed for security and safety of the investors. Upcoming off-site infrastructures of the zone has included but not limited to Entrance Plaza, Place of Worship, Commercial Bank, Insurance Company, Admin building, Fire Station, Guest House, Investors Club, Service Apartment, Dormitory, Retail Stores, Warehouse, Customs, CETP, etc.
Almost a third of the total land under M.E.Z. has been identified as green and open spaces, making it an eco-friendly zone.
Good number of local investors like Bashundhara Group and foreign investors have shown interest for setting up various manufacturing plants within the M.E.Z.
PowerPac Economic Zone Pvt. Ltd. welcomes all local and foreign investors to invest at Mongla economic zone considering its strategic location and future business potentiality, said the press release.
The gold traders of Saudi Arabia are experiencing a spike in their business as investors go for the precious metal after the government’s announcement to introduce 15 percent VAT from July 1.
Yaseen Ali, a jeweler recently reopened gold souk in Diriyah, Riyadh, said that visitor numbers were almost back to pre-pandemic levels. “I wasn’t expecting this level of sales this week,” he said, reports Arab news.
“I believe both lifting the curfew as well as the increase of VAT to 15 percent (starting from July 1) played a role in moving the market,” Ali added.
The coronavirus pandemic has had a devastating impact on retailers worldwide and the jewelry sector has not been spared. Demand for gold jewelry plummeted 39 percent in the first quarter compared to a year earlier, according to the World Gold Council.
While demand for investment gold is strong as people turn to safe investments amid market volatility, the jewelry end of the business is more exposed to weaker consumer confidence as well as the absence of weddings and other celebrations associated with gold purchases.
Riyadh jeweler Ibrahim Awadh believes sales are still below pre-lockdown levels despite a marked improvement this week.
“Yes, we have witnessed excellent number of customers who visited the gold market this week, but the sales level is still below what we saw in the beginning of the year,” he said. “With the lifting of the curfew, we expect to see more wedding celebrations in coming weeks, which will boost sales of gold and jewelry, although the big wedding gatherings that exceed 50 people are still banned."
Saudi Arabia is tripling its VAT from July 1 in an effort to increase government revenues in response to the coronavirus pandemic and weaker oil prices. The looming deadline has boosted purchases for some big ticket retail items, including jewelry, which will cost people more from Wednesday.
Gold investors worldwide have stepped up purchases in recent weeks as fears of a second wave of the coronavirus in some large economies encourages purchases of both physical gold and exchange-traded funds that are focused on the precious metal.
Gold bullion has risen more than 1 percent this week, with prices at a near eight-year high of more than $1,779 on Wednesday. It has returned 22 percent in dollar terms in the year to the end of March.
“Gold has always been topical for investors in the Middle East,” said Alessio Cirillo, sales director at Invesco EMEA.
“Most investors buy gold as a hedge against inflation and high economic uncertainty, with some investors looking for asset appreciation. Globally, gold exchange- traded funds are recording record inflows as investors sought out liquid investment products to gain exposure to gold.”
PRAN-RFL Group has donated protective equipment to three coronavirus dedicated for the protection of the physicians and nurses.
Kamruzzaman Kamal, marketing director of PRAN-RFL Group, handed over the items by visiting the three institutions Sheikh Russel Gastro Liver Institute and Hospital, Kurmitola General Hospital and Kuwait-Bangladesh Friendship Government Hospital on Thursday.
Prof Dr. Faruque Ahmed, director of Sheikh Russel Gastro Liver Institute and Hospital, Dr. A. K. M. Sarwarul Alam,director of Kuwait-Bangladesh Friendship Government Hospital and Maj Shaikh Mohammad Edi Ameen, senior store officer of Kurmitola General Hospital received surgical mask, hand sanitizer, mob cap, safety goggles and PPE.
Earlier, PRAN-RFL Group donated corona sample collection booths, surgical masks, PPE, hand gloves and hand sanitizers to Director General of Health Services (DGHS) and 12 hospitals in Dhaka, Chattogram and Bhola.
The group also donated protective equipment for the police working in Chattogram.
Bangladesh Small and Cottage Industries Corporation (BSCIC) and online marketing platform ‘Oikko Foundation’ will jointly work for online marketing of products of the country’s small and cottage industries.
Goods produced by the small and collage enterprises across the country are available at www.oikko.com.bd.
BSCIC Chairman Md Mustaq Hasan, along with Shahina Akter Reni of Oikko Foundation, on Wednesday opened the online marketing platform through a television programme, BSCIC said in a statement on Thursday.
The entrepreneurs were asked to contact to 01300309091 for marketing of their products through Oikko store.
Unilever Bangladesh Limited (UBL) on Thursday announced the next step in the evolution of its skincare portfolio, with the rebranding of its flagship brand Fair & Lovely.
Taking forward the brand’s journey towards a more inclusive vision of beauty, the company will stop using the word ‘Fair’ in the brand name ‘Fair & Lovely’.
The new name is awaiting approvals and expected to change the name in the next two months, according to a press release.
Over the last decade, Fair & Lovely’s advertising has evolved to communicate a message of women’s empowerment. The brand’s vision is to adopt a holistic approach to beauty that cares for people, that must be inclusive and diverse - for everyone, everywhere. The brand is committed to celebrating all skin tones.
In early 2019, the brand’s communication moved away from the benefits of fairness, whitening and skin lightening, towards glow, even tone, skin clarity and radiance, which are holistic measures of healthy skin.
The cameo with two faces showing shade transformation, as well as the shade guides were removed from almost all the packs.
The Company will continue to evolve its advertising, to feature women of different skin tones, representative of the variety of beauty across Bangladesh.
Managing Director and CEO of UBL Kedar Lele said, “We are making our skin care portfolio more inclusive and want to lead the celebration of a more diverse portrayal of beauty."
He said that In 2019, UBL has progressed the brand communication from fairness to glow which is a more holistic and inclusive measure of healthy skin. These changes were very well received by our consumers.
"We now announce that we will remove the word ‘Fair’ from our brand name Fair & Lovely. The new name is awaiting, and the pack with the revised name will be available in the market in the next few months.”
Fair & Lovely is a pioneering technology that has made multiple skin health benefits available to millions of consumers at an affordable price.
Fair & Lovely has a combination of vitamin B3, B6, C & E, glycerine, UVA and UVB sunscreens and allantoin, which are known to improve skin health and protect the skin from external aggressors and environmental pollution.
The product works to improve skin barrier function, boost the skin’s microbiome, improve skin firmness and smoothen skin texture to enhance radiance and glow holistically. The brand has never been and is not a bleaching product.
Also Read: Unilever donates COVID-19 testing kits to SAJIDA Foundation
"In addition to the changes to Fair & Lovely, the rest of our skincare portfolio will also reflect the new vision of positive beauty."
As with the rebrand of Fair & Lovely, UBL will be also announcing the new name for the Fair & Lovely Foundation.
With the Brand purpose of inspiring women to challenge the low expectations of society Fair and Lovely Foundation was established in 2003 in Bangladesh, completely dedicated to the empowerment and progress of women.
Since then, Fair & Lovely Foundation has been helping Bangladeshi women fulfil their dreams in the form of scholarships, vocational training, and business capital.
In 2019, Fair & Lovely Foundation launched a mobile-friendly career and education platform www.fairandlovelyfoundation.com.bd as a holistic solution that offers Career guidance and High-quality education in the form of curated selection of courses.
Till date, over 45,000 individuals had registered to access training and skills through the platform, including 30,000 women, with more than 6,000 career tests already completed.