A promotional video for a rebrand of British luxury car brand Jaguar is being criticized online for showing models in brightly colored outfits — and no car. The rebrand, which includes a new logo, is slated to launch Dec. 2 during the Miami Art Week, when the company will unveil a new electric GT model. But Jaguar Land Rover, a unit of India’s Tata Motors Ltd., has been promoting it online. The Jaguar brand is in the middle of a transition to going all-electric. “Copy Nothing,” marketing materials read. “We're here to delete the ordinary. To go bold. To copy nothing.” The promotional video, posted on X and Instagram, shows models dressed in futuristic brightly colored outfits walking in an alien-like landscape. “Break Moulds,” copy reads. It drew ire online, with people complaining about the lack of a car and the confusing message. X owner Elon Musk wrote on X, “Do you sell cars?” People also complained about the new, stylized, logo. The “leaper” jaguar image has also been reimagined. Charles Taylor, marketing professor at the Villanova School of Business in Villanova, Pennsylvania, said the promotional video strikes the wrong tone for potential buyers, and said the company is making a mistake by not using the brand's heritage as an elegant British high-performance sports car in its marketing. “If they came back with a really good electric vehicle, they could build on their prior image as opposed to really throwing out the heritage of the brand and going in this kind of direction,” he said. “It’s hard to see how the market of people that would like that approach is large enough for them to thrive.” Rebranding is a common tactic for companies seeking to spark sales. Campbell Soup Co. on Wednesday officially changed its name to Campbell's Co., and companies like Airbnb and Instagram update their logos from time to time. But if they strike a wrong chord, the result can be disastrous. Past rebranding failures include Tropicana changing its logo in 2009 to omit its trademark orange — it soon changed it back. And Radio Shack rebranded to “The Shack” in 2008, alienating its core shoppers, before eventually filing for bankruptcy protection in 2015. Jaguar Land Rover, based in Whitney, Coventry, in the U.K., did not return a request for comment.

Md. Saiful Alam, Chairman of S Alam Group, has accused the Bangladesh Bank of using "intimidation" against him, according to a report by the UK-based Financial Times. Alam believes his Singaporean citizenship and international investment treaties will protect him from such actions. The Financial Times report revealed that lawyers representing S Alam and his family have sent a letter to the central bank, accusing Bangladesh Bank of making “unfounded claims” and threatening to pursue legal action in an international court. The law firm Queen Emanuel Urquhart & Sullivan drafted the letter, which was reportedly obtained by the Financial Times. The dispute stems from comments made by Bangladesh Bank Governor Ahsan H. Mansur in a previous interview with the Financial Times. Mansur alleged that the S Alam Group laundered Tk 1.20 lakh crore from the banking system during Sheikh Hasina's tenure as Prime Minister. The letter sent by S Alam’s legal representatives refutes these claims, describing them as “baseless and provocative”. The group labeled the statements an act of "intimidation" against them. The S Alam Group has reportedly threatened to file an arbitration case against Bangladesh Bank in an international court. According to Bangladesh Bank, Saiful Alam did not seek approval for overseas investments as required by Bangladeshi law. His name is absent from the list of individuals or companies permitted to make legal foreign investments. Bangladesh Bank has declined to comment on the allegations or the legal threat from S Alam Group.

The Dhaka Stock Exchange (DSE) ended Wednesday's trading on a mixed note, with the benchmark DSEX index posting a marginal gain despite a persistent downtrend throughout the day. The DSEX index closed at 5,245.26 points, edging up by 2.6 points. Meanwhile, the Shariah-based DSES index gained 8.59 points, settling at 1,162.52, while the DS30 blue-chip index dropped by 8.26 points to close at 1,934.63. The modest recovery followed a three-day losing streak (Sunday–Tuesday) during which the DSEX index fell by a total of 112.65 points. The trading volume saw a significant drop on Wednesday, with shares and mutual funds worth Tk 393 crore exchanged, marking a decline of Tk 121.8 crore from Tuesday’s turnover of Tk 514.8 crore. A total of 12.66 crore shares and units were traded in 181,081 transactions, down from 16.8 crore shares traded on the previous day. Out of the 379 companies that participated in Wednesday’s session, 113 companies' stock prices increased, 183 declined, and 83 remained unchanged. The Chittagong Stock Exchange (CSE) also experienced a subdued trading day. The CASPI index inched up by 0.12 points, closing at 14,672.11 points. However, the day's turnover decreased to Tk 6.23 crore, down from Tk 11.1 crore on Tuesday. On the CSE, 198 companies were traded, with prices rising for 60 companies, declining for 101, and remaining unchanged for 37. A total of 28.37 lakh shares and units were traded through 1,718 transactions.

The Dhaka Stock Exchange (DSE), the principal capital market of Bangladesh, extended its downtrend for the fourth consecutive day during early trading on Wednesday. In the first two hours of trading, shares and mutual funds worth Tk 172.3 crore were exchanged through 63,326 transactions, according to DSE data. This marked a significant decline from the same period on Tuesday, when trading volumes totaled Tk 224.3 crore. DSE index plummets by 112.65 points in last three days A total of 373 companies traded on Wednesday morning. Among them, the prices of 140 companies increased, 153 declined, and 80 remained unchanged, reflecting a mixed sentiment among investors. The DSEX, the DSE’s benchmark index, fell by 15.36 points, settling at 5,283.07. Meanwhile, the DSES Shariah index recorded a slight increase of 0.79 points to reach 1,154.73. However, the DS30 index, which tracks blue-chip stocks, dropped by 11.06 points to stand at 1,931.83.

The import-level value-added tax (VAT) on edible oil has been reduced from 10 percent to 5 percent to maintain a steady supply in the market. The National Board of Revenue (NBR) issued a notification in this regard on Tuesday. Earlier, the NBR had issued exemption notifications to boost the supply of rice, potatoes, onions, eggs, edible oil and sugar in the market. Read: Govt to procure 55,000 MT soybean oil for OMS On October 17, 2024, to keep oil prices within the purchasing power of the general public, a 15 percent tax exemption was allowed at the local production level, while a 5 percent VAT was imposed at the local business level on the supply of refined and unrefined soybean and palm oil. As a result of this exemption, only a 5 percent VAT is currently applicable at the import level. The NBR says that the removal of the said VAT will help maintain edible oil prices at a manageable level in the market, ensuring that consumers do not face increased costs. This exemption on edible oil will remain effective till December 15, 2024.

The Dhaka Stock Exchange (DSE) extended its losing streak on Tuesday, marking the third consecutive day of decline. The benchmark DSEX index plunged by 57.40 points, closing at 5,242.66 amid mounting sales pressure, bringing the total three-day loss to 112.65 points.  The DSEX was not alone in its downward trajectory. The Shariah-based DSES index fell by 17.5 points to settle at 1,153.93, while the DS30 blue-chip index shed 20.17 points, ending at 1,942.90.  Turnover on the DSE dropped to Tk 514.8 crore on Tuesday, down by Tk 36.5 crore from Monday's Tk 551.3 crore. A total of 16.8 crore shares and mutual fund units changed hands through 181,081 transactions, compared to 17.51 crore shares exchanged in 179,434 transactions the day prior.  Out of the 388 companies traded, 267 saw their share prices decline, while only 76 posted gains. Prices for 45 companies remained unchanged, reflecting subdued investor sentiment.  The Chittagong Stock Exchange (CSE) mirrored the overall downtrend but saw marginal fluctuations. The CASPI index edged up slightly, gaining 0.84 points to close at 14,691.05.  A total of 218 companies participated in Tuesday's CSE trading. Prices for 134 companies dropped, 58 advanced, and 26 remained unchanged. Turnover on the CSE, however, showed an uptick, increasing to Tk 11.1 crore from Monday’s Tk 5.33 crore. Trading volume reached 24.21 lakh shares and units, exchanged through 2,580 transactions. 

The Asian Development Bank (ADB) and the World Bank will provide $600 million and $500 million in loan assistance respectively by December 2024, said Finance Secretary Dr Md Khairuzzaman Mozumder  on Tuesday. He made the disclosure during a press conference at the Ministry of Finance, organised marking the interim government’s 100-day milestone. Responding to a query from journalists on the amount of loan commitments received by the interim government, Dr Mozumder said the policies implemented by the interim administration have been positively received by donor agencies such as the International Monetary Fund (IMF) and the World Bank. “Our interim government’s policy measures have yielded good results, exceeding our initial expectations in terms of funding. For instance, we have successfully negotiated $600 million in loans with ADB and expect to receive the funds by December,” the finance secretary said. World Bank and ADB to provide $2.5 billion to reform banks and financial sector He also highlighted progress with the World Bank, which has agreed to provide $500 million in loan support within the same timeframe. “Originally, these loans were set at $300 million and $250 million, respectively, but were later doubled due to favourable negotiations.” The government is seeking further financial assistance from the IMF, Dr Mozumder said adding, “We have requested an additional $1 billion in support from the IMF for this year. Discussions are set to conclude when the IMF team visits on 4 December, and we are optimistic about the outcome.” ADB senior officials meet Prof Yunus; keen to support vital structural reforms The finance secretary expressed confidence in the government’s ability to implement its policies effectively and secure continued support from international financial institutions. Chaired by Finance Adviser Salehuddin Ahmed, the press conference was attended, among others, by Financial Institutions Division Secretary Nazma Mubarak, Economic Relations Division (ERD) Secretary Md Shahriar Kader Siddiky, and National Board of Revenue (NBR) Chairman Md Abdur Rahman Khan.

Some banks are recovering well, while others may continue to struggle, but no banks will be shut down, said Finance Adviser Salehuddin Ahmed on Tuesday. “Some banks are recovering. Islami Bank, the largest bank, is improving. However, some banks will continue to struggle. But we will not shut down any bank,” he said while speaking at a press conference at the Secretariat, organised by the Ministry of Finance. Finance Adviser prioritises short-term reforms over long-term ones The Finance Adviser mentioned that the government’s commitment to stabilising the banking sector despite challenges. He also focused on fiscal management, mentioning that measures are being taken to reduce government expenditure. “Salaries and allowances for government officials will not be impacted,” he assured. Referring to the Annual Development Programme (ADP), Dr Salehuddin Ahmed mentioned that projects deemed unnecessary or influenced by political considerations are being reviewed for possible adjustments. Finance Secretary Dr Md Khairuzzaman Majumdar, Secretary of the Financial Institutions Division Nazma Mobarak, Secretary of the Economic Relations Division (ERD) Md Shahriar Kader Siddiqui, and National Board of Revenue (NBR) Chairman Md Abdur Rahman Khan were also present at the press conference.

Forty years after its founding, Japanese clothing retailer Uniqlo has more than 2,500 stores worldwide. Sales at its parent company, Fast Retailing Co., recently topped 3 trillion yen ($20 billion) annually for the first time. The name Uniqlo comes from joining the words for “unique” and “clothing.” The chain’s basic concept is “LifeWear,” or everyday clothing. Uniqlo parent Fast Retailing Co. Chief Executive Tadashi Yanai, ranked by Forbes as Japan’s richest man and estimated to be worth $48 billion, spoke recently to The Associated Press at the company’s Tokyo headquarters. The interview has been edited for length and clarity. Q: What were the biggest challenges over the past 40 years? A: Actually 40 years, upon reflection, went by so fast they feel more like three years. You know what they say in Japan: Time flies like an arrow. I started a regional business, then expanded nationwide. When we became No. 2 or No. 3 in Japan’s casual wear, and being No. 1 was right within reach, we became a listed company in 1994. That was followed by our fleece boom, which doubled our revenue in one year to 400 billion yen ($2.6 billion). I’d been thinking about going global when our revenue reached 300 billion yen ($2 billion) so we opened 50 stores in Great Britain, hoping to be a winner there just like we had conquered Japan. Instead, we got totally knocked out. We opened 21 outlets in a year and a half, but had to close 16 of them, leaving just five. We didn’t succeed as we had hoped. This is not an easy job. It’s very tough. But these days, our sales are strongest in London, and also Paris. We made progress gradually. Q: What are some of the sustainability and other key issues you have faced over the years? A: We make clothes that last a long time. Not just clothes that last for one season. The cashmere sweater I’m wearing today is $99. But please don’t say “cheap.” Please call it “reasonable.” We sell quality products at reasonable prices. We’ve done various sustainability efforts, and we talk only about what we have really achieved. Sustainability is crucial to our operations. And we’ve done just about everything — recycling, employing the disabled, support for refugees. The prices may be cheaper at Wal-Mart, but our products offer real quality for the price. We take the greatest care and time, and involve a lot of people. Our rivals are more careless. Q: What is behind Uniqlo’s success and what resonated with global buyers? A: When we say Uniqlo is “made for all,” one might imagine products for the masses, like what’s at a Wal-Mart or a Target. But what we mean is a high-quality product that appeals to all people, including the extremely rich, not only those with sophisticated taste and intelligence, but also people who don’t know that much about clothes, and the design is fine-tuned, the material fine quality, and sustainability concerns have been addressed. We were first a retailer, then a manufacturer-cum-retailer. Now we are a digital consumer retailer. That is why we are successful. If we had stayed the same, then we can’t hope to succeed. Being a digital consumer retail company means we utilize information at a high level to shape the way we do our work. We gain information about our customers, the workers at the store, the market, all that information. Changing daily is the only way we can hope for stable growth. The world is changing every day. Q: Are you confident you can keep it up another 40 years? A: Of course. We’ve been preparing to reach 3 trillion yen ($20 billion) revenue all these years. And we are finally starting to be known. But we still have a long way to go. We are just getting started, and we are going to keep growing. There is more potential for growth in Europe and the U.S., as well as China and India, given the 1.4 billion population in each country. Clothing is a necessity, so population size is key.

The Dhaka Stock Exchange (DSE), the primary capital market of Bangladesh, experienced a downward trend in the first two hours of trading on Tuesday. During this period, trading records show that 7.22 crore shares and units were exchanged through 82,989 transactions. The total value of traded shares and mutual funds reached Tk 224.3 crore. A total of 380 companies participated in the trading session. Among them, the share prices of 129 companies increased, 180 companies decreased, and 71 companies remained unchanged. The main index, DSEX, dropped by 16.98 points to 5,283.07. The Shariah-compliant DSES index fell by 7.19 points to 1,164.23, while the DS30 index, which tracks blue-chip companies, slipped marginally by 0.46 points to 1,953.96 during the first two hours of trading.