investment
Gold vs Diamond: Which Should You Choose for Investment?
Are you considering investing in precious materials but unsure whether to choose gold or diamonds? Understanding their key differences is crucial when making investment decisions. In this article, we will weigh in on the benefits and shortcomings of both gold and diamonds. By the end, you'll have the insights you need to determine which investment aligns best with your financial goals and risk appetite.
Advantages of Investing in Gold
Safe-Haven Asset:
Gold is often considered a safe-haven asset during economic uncertainties and market volatility. It tends to retain its value and can act as a hedge against inflation and currency fluctuations.
Diversification Benefits:
Adding gold to an investment portfolio can provide diversification benefits, as it typically has a low correlation with other assets like stocks and bonds. This can help reduce overall portfolio risk.
Read more: Gold Buyer's Guide: Know the types, colors, karats of the precious metal
Tangible Asset:
Gold is a physical asset that you can hold in the form of coins, bars, or jewellery. This tangibility can provide a sense of security and ownership compared to other investments like stocks or bonds.
Good Fashion Fund makes first investment in Bangladesh in impact equipment
The Good Fashion Fund (GFF), a Netherlands-based investment fund promoting sustainable practices in the fashion industry, has made its first investment in Bangladesh.
The $1 million funding will support Progress Apparel Ltd.’s investment in a modern in-house washing plant located at the Adamjee EPZ's factory in Narayanganj, Dhaka.
The washing plant will be equipped with state-of-the-art washing, drying and hydro machinery selected for its efficient use of water and chemicals, said a media release on Monday (July 03, 2023).
Also read: Netherlands lauds Bangladesh’s continued progress despite global uncertainties
GFF’s investment - which is structured through Progress Apparels’ holding company in Hong Kong, PDS Ltd. - is enabling the company as a new player in the textile sector, to access international funding whilst promoting sustainable investments.
GFF’s investment in the in-house washing plant not only generates savings in water and chemical usage compared to conventional machinery, but also promotes supply chain traceability and transparency as washing is no longer outsourced, and the factory is now well capable of monitoring water, energy and chemical usage and the social well-being of its employees.
Limiting transport to and from the outsourced facility will further reduce emissions.
Progress Apparels Limited is a ready-made garment producer established in 2017 in Bangladesh.
Also read: Bangladesh Film Archive signs MoU with RedOrange of Netherlands to collect 1971 war footage
The company is part of PDS Limited. The facility produces woven bottoms for popular international brands and retailers.
They have a production capacity in excess of 1,000,000 pieces per annum which is set to increase due to operational efficiencies brought about by the GFF investment.
Speaking on the conclusion of the investment, Pallak Seth, Executive Vice Chairman, PDS Limited said, “PDS has more than two decades of expertise in the apparel value chain and established itself as a favoured collaborator for over 200 prominent global retail brands."
"As a socially responsible corporate entity and a trusted partner of retailers, we are dedicated to upholding our obligations to both our customers and the environment. Our association with the Good Fashion Fund serves as a testament to PDS's commitment to collaborating with esteemed institutions that prioritize environmental sustainability and circularity.”
Also read: BEMEA seeks more collaboration with Netherlands to enhance RMG industry’s competitiveness
Sanjay Jain, Group CEO, PDS Limited, “Over the past year, our manufacturing business has achieved a full year of profitability. This investment in the wash plant has not only empowered Progress Apparels to enhance their manufacturing capabilities but also gained the advantage of Good Fashion Fund's knowledge in sustainable practices and cutting-edge technology implementation. This investment allows us to leverage their expertise for the betterment of our operations and overall sustainability goals.”
The GFF is initiated by the Laudes Foundation for financing is to be used to invest in impact equipment that deliver both economic growth and good fashion practice.
Bob Assenberg, Fund Director of the Good Fashion Fund, spoke on this investment.
“We are excited to announce our first investment in Bangladesh and to be associated with a sustainability- oriented manufacturer such as Progress Apparels. This partnership demonstrates that sustainability can go hand-in-hand with economic savings and that it is essential towards transforming the apparel supply chain. We hope industry stakeholders will make concerted efforts in making such investments more accessible in Bangladesh.”
Also read: Netherlands, IOM join hands to improve environment, strengthen resilience of Rohingyas, host communities in Cox’s Bazar
Anita Chester, Managing Director of Laudes India, commented that “Sustainable manufacturing practices and processes are the need of the hour. They are especially critical in key manufacturing regions like Bangladesh where support to producers is critical to showcase the immense opportunity to decarbonise while ensuring a socially responsible transformation.”
The total investment made at the manufacturing facility has been seen as a testimony to PDS’s pledge to make the apparel manufacturing value chain sustainable and environmentally ethical for all stakeholders, the press release said.
DSE urges tax exemption on earned interest in bond market
The Dhaka Stock Exchange (DSE) on Tuesday urged the government to consider its 6-point proposal on the budget for the fiscal year 2023-24, to encourage investment.
DSE Board of Directors Chairman, Professor Hafiz Hasan Babu made the call from a 'post-budget press conference' at a hotel in the capital on Tuesday.
The proposals are tax-exemption for earned interest on bonds, to reduce the tax gap between listed and non-listed companies to 10 percent, reduce VAT from 15 percent to 10 percent for companies in the capital market, reduce the tax gap to 10 percent for stock exchange SME companies, and reduce tax at source on broker houses’ transactions.
Also Read: DSE seeks inclusion of four points to facilitate investors
In a written speech at the press conference, DSE Chairman said that currently, the size of the corporate bond market is very small which creates limitations in the capital market as well as in the financial market.
Also Read: DSE market capitalisation increased by Tk4.5 lakh crore in 2022
“A well-functioning bond market can help the economy in several ways. Exemption of tax on interest in all types of bonds would encourage creating a strong bond market," he said.
Japan wants to understand what’s happening in Bangladesh and where it’s headed, BNP says as ambassador meets Fakhrul
Japanese Ambassador to Bangladesh Iwama Kiminori met BNP’s Secretary General Mirza Fakhrul Islam Alamgir today (June 4, 2023) and discussed Bangladesh’s next general election and the overall political situation.
Talking to reporters after the meeting at the BNP Chairperson’s Gulshan office, the party’s standing committee member Amir Khasru Mahmud Chowdhury said that Japan, like other democratic countries, wants to see a free, fair, and acceptable election in Bangladesh.
Read more: Govt to blame for US’s disrespectful visa policy: Fakhrul
“Bangladesh’s relations with Japan expanded significantly since we started the free market economy during the BNP government. That is why they (Japan) want that relation to continue even if the government changes,” he said.
Chowdhury, along with the party’s Organising Secretary Shama Obaid, was present at the meeting. They discussed the overall electoral system of Bangladesh and the current human rights situation, he said.
Like other countries, Japan might have concerns about Bangladesh’s next election, human rights situation, rule of law, press freedom, and people’s security, the BNP leader said. “So, they want to understand what is happening in Bangladesh, what is going to happen in the future, and where is Bangladesh headed?” – he said.
Read more: Movement to restore democracy going towards final stage rapidly: Fakhrul
Chowdhury, also the foreign affairs committee chairman of BNP, said the Japanese envoy talked about his country’s investment in Bangladesh – both in the private and public sectors.
He said they informed Iwama Kiminori about the country’s overall situation, but he declined to elaborate on it.
The BNP leader said many countries are concerned about the investment atmosphere and the future of Bangladesh. “The situation we’re going through now has created apprehension among countries. So, they’re trying to understand how Bangladesh will be in the future and how the election will be.”
Read more: ‘We’re taking plan according to road map prepared for national election,’ CEC tells Japanese Envoy
Asked whether Japan will play any role in ensuring a peaceful and fair election in Bangladesh, Chowdhury said the democratic countries have already expressed their goodwill regarding the elections in Bangladesh. “Japan is no different. Everyone wants a free, fair, and acceptable election in Bangladesh.”
He said the new Japanese ambassador has paid a courtesy call on the BNP secretary general. Stating that Bangladesh-Japan friendship is time-tested, the BNP leader said bilaterally, friendly relationship with Japan is above all.
Read more: Japan eyes broader ties with Bangladesh under strategic partnership: Ambassador Kiminori
PM calls for more Swedish investment as H&M boss calls on her
Prime Minister Sheikh Hasina on Tuesday (May 30, 2023) called for more Swedish investment in various sectors of Bangladesh, particularly in ICT and Economic Zones, and reap the benefits.
The Prime Minister made the call when a Swedish Delegation led by CEO and President of world-renowned clothing company H&M, Helena Helmersson, called on her at her official residence Ganabhaban.
Swedish Ambassador to Bangladesh Alexandra Berg Von Linde and Chief Financial Officer of H&M Adam Karlsson were also in the delegation.
Prime Minister's Press Secretary Ihsanul Karim briefed the reporters.
Read more: Saudi Arabia wants to make large-scale investment in Bangladesh: Saudi ministers tell PM Hasina
Sheikh Hasina said that Bangladesh has its own economic policy and targeted plan on poverty reduction, food security, healthcare and on creating employment opportunities.
She mentioned that the government wants to expand the export basket to further strengthen the economy of the country.
During the meeting, Helena Helmersson mentioned that Sweden has had special relations with Bangladesh for the last three decades and said, they want to carry forward the business with Bangladesh.
The CEO and President of H&M highly appreciated the socio-economic development of Bangladesh and lauded the government of Prime Minister Sheikh Hasina for successfully tackling the Covid-19 pandemic in the country.
Read more: More cooperation may attract more US investment in diversified segments, hopes AmCham President
In response, the Prime Minister also appreciated the Swedish Company as they did not cancel their orders during the pandemic.
As Helena Helmersson pointed out the climate change issue describing it as very important, Sheikh Hasina said, her government is carrying out mitigation programmes on its own fund.
In this regard, the Prime Minister noted that her government is aware about climate change and is working on this issue.
Sheikh Hasina also highlighted her government’s achievements in women empowerment and gender equality in the country.
Read more: Bangladesh has an amazing growth trajectory amid investment opportunities: German Diplomat
Prime Minister’s Adviser on Private Industry and Investment Salman F Rahman and Prime Minister’s Principal Secretary Tofazzel Hossain Miah were present.
Journalism award to recognize outstanding reporting on Bangladesh-China trade, investment ties
A new journalism competition will be held in Bangladesh's capital Dhaka to encourage more and better-quality investigative reporting to bolster Bangladesh-China ties in trade, commerce and investment.
An agreement on the Bangladesh China Chamber of Commerce and Industry (BCCCI) - the Economic Reporters' Forum (ERF) Journalism Award was signed here Saturday. Both sides have decided to jointly hold the journalism award event.
The "BCCCI-ERF Journalism Award" will cover five areas, including the trade and investment ties between Bangladesh and China, how the high-quality development of China has helped Bangladesh, science and technology, the Belt and Road Initiative and others.
Noting the professional significance of such an event, Al Mamun Mridha, secretary general of BCCCI, hoped that it would further encourage the economic journalists to analyze the topics of bilateral relations between Bangladesh and China.
Countries investing heavily in Myanmar should come forward to solve Rohingya crisis: Momen
Foreign Minister Dr AK Abdul Momen today (May 20, 2023) urged countries, who are heavily investing in Myanmar, to come forward for a sustainable solution to the Rohingya crisis for their own interests and to protect their investment.
"If this problem is not resolved, you have seen many countries in the Asia Pacific and the Bay of Bengal -- their attractions have increased and made investments, enhancing trade. This investment will be hurt if there are terrorist activities," Momen told reporters after a seminar.
Diplomats World, a publication that deals with cultural, legal, regional, global security, politics, and various other issues, hosted the seminar titled "Rohingya Repatriation: A Pathway to Peace, Stability and Harmony in the Bay of Bengal Region" at a Dhaka hotel.
Momen said if the Rohingyas who are frustrated succumb to terrorism, major investments by some countries in the whole region would be at risk.
Read more: Dhaka seeks global support in pilot Rohingya repatriation project
He said peace is required in the region so that investment can sustain.
"If there is a commitment, if there is a will, they can do it. It is the commitment that is lacking on the part of our global leadership. There is lip service, unfortunately," said the Foreign Minister.
He, however, said he always remains hopeful and mentioned that both the US and China have engaged in senior-level focal point for resolving the Rohingya issue.
Gold Buyer's Guide: Know the types, colors, karats of the precious metal
As an ornament, gold has been cherished for centuries due to its inherent beauty and lustrous appeal. Often the word jewelry synonyms gold. Even sometimes gold is related to religious beliefs. Gold can be a valuable resource too. Gold is a highly conductive metal and is used in different types of applications. For instance, gold is used in dentistry for its biocompatibility and resistance to corrosion. Even gold is used in electronic systems and space exploration because it is reliable and durable.
Gold has been a popular investment for centuries. Its value mostly follows an upward trend during times of economic growth. Gold is a tangible asset that is not subject to inflation or government control.
Different Types of Gold Used in Jewelry
Though gold is always a precious metal, the value and quality of gold jewelry differ based on its manufacturing process. Here are some types:
Gold Plated
Gold-plated jewelry is the most affordable option and is made by covering a base metal like brass or copper with a thin layer of gold. The gold layer can be as little as 0.05% or less and may fade or tarnish over time. Gold-plated jewelry is produced in many countries, including China, India, Thailand, and the United States.
Read more: Gold’s Shiny Secret: How to clean gold jewelry right way
Gold-Filled
Gold-filled jewelry is made by bonding a solid layer of gold to a base metal like brass, with nearly 100 times more gold than gold-plated jewelry. This process results in a more durable piece of jewelry that won't rub off. Gold-filled jewelry is commonly produced in the United States, Italy, and Turkey.
Gold Vermeil
Gold vermeil jewelry features a sterling silver base coated in a thick layer of gold plating, typically 2.5 microns thick. The gold plating is done through the electroplating process, and the resulting piece is more durable than gold-plated jewelry. Gold vermeil jewelry is commonly produced in countries such as the United States, Italy, and France.
Solid Gold
When the jewelry is made of gold metal with no other base metal, it is called solid gold jewelry. Not to mention, it is the best type of gold jewelry.
Read more: Is Gold a Good Investment?
However, the solid gold jewelry comes in various karats. High karat golds offer more purity, and quality in exchange for a higher price tag. Solid gold jewelry is produced in many countries worldwide, including China, South Africa, Australia, the United States, and Canada.
The value of each type of gold can vary depending on several factors such as its purity, rarity, and demand in the market. Solid gold will always be the most expensive due to its high purity and lack of base metals.
Gold-filled and gold vermeil feature higher quality and are more expensive than gold-plated jewelry. But they are more budget-friendly than solid gold made jewelry. Solid gold made jewelry is the most expensive one as it offers better quality than gold-filled and gold vermeil jewelry. Gold-plated jewelry is the most affordable option, but its gold content is minimal, which affects its durability and longevity.
Read more: Is Sanchayapatra a Good Investment in 2023?
How to Build a Successful Company?
In today’s fast-paced and ever-evolving business world, the term “successful company” is often used to describe organizations that have managed to achieve exceptional growth, profitability, and market dominance. However, building a successful company is not just about generating high revenues or achieving a large market share. Rather, it is about creating a sustainable business model that delivers real value to customers while ensuring long-term profitability and growth.
Building a successful company is not easy, but it is possible with the right mindset, strategies, and execution. A successful company requires a lot of hard work, dedication, and persistence to overcome obstacles and achieve goals. In this article, we will provide a comprehensive guide to help you build a successful company from scratch.
12 Ways to Build a Successful Company
Building a successful company involves several essential steps. Let’s go over the essential steps you need to build a successful company.
Analyze the Market and Competition
Analyzing the market allows entrepreneurs to identify potential opportunities and gaps in the market that their business can fill. By understanding customer needs, preferences, and trends, businesses can develop products or services that better meet these demands, providing a competitive advantage in the marketplace.
Read More: Silent Partner vs Investor in Business: Know the Difference, Pros and Cons
Develop a Business Plan
Develop a comprehensive business plan to outline your company's goals, strategies, and financial projections. This plan serves as a roadmap for your business and should include your company's vision, mission, and values. In addition to that, identify your target market, analyze the competition, and define your unique selling proposition. Determine the resources and funding required to start and operate your business.
To monitor your expenses and revenue and ensure adequate cash flow for your business in the long term, include financial projections and budgets in your business plan. Building a successful business requires a solid business plan.
This plan will act as a blueprint for your company -- helping you make informed decisions and stay focused on your goals as you face the challenges of entrepreneurship. Developing a well-researched and structured business plan is crucial to transforming your business idea into a thriving company.
Bangladesh needs $170 billion investment in power,energy sector by 2041: Nasrul
State Minister for Power, Energy and Mineral Resources Nasrul Hamid has said that Bangladesh requires $170 billion dollars investment in the power and energy sector by 2041.
He said while addressing a session on "Strengthening the Future of Economic Growth of Bangladesh" at the high-level discussion meeting titled "U.S.-Bangladesh Economic Partnership: Shared Vision for Smart Growth" organized by the US Chamber of Commerce in Washington DC on Tuesday.
“There are profitable investment opportunities in different sectors and sub-sectors like LNG, renewable energy, smart grid, smart distribution, electric vehicle infrastructure, onshore and offshore hydrocarbon exploration,” said the state minister.
Read More: Investment in Bangladesh will bring huge success: PM Hasina to Japanese businesses
He also said that upgrading gas infrastructure, setting up petrochemical industries, reducing GHG emissions, smart gas distribution are among the sectors where US companies can invest and the government will provide special incentives to foreign investors.
He said that Prime Minister Sheikh Hasina has given the vision of building a smart Bangladesh to build the golden Bangladesh as dreamt by Father of the Nation Bangabandhu Sheikh Mujibur Rahman.
“It needs financial investment as well as technical and knowledge-based cooperation to realise the vision,” he said adding that investment should come not only from multilateral development agencies, but also from the public and private sectors.
Read More: Momen due to leave for US Friday with trade and investment high on agenda
Eric Walker, president of Chevron's Bangladesh office and Dr. John Ardil, vice president of Exxon Mobil also addressed the event.