Eastern Bank Limited (EBL) has signed a Memorandum of Understanding (MoU) with German-headquartered trade finance provider TradeWind GmbH on Wednesday to offer secure and innovative trade finance solutions.

Ali Reza Iftekhar, Managing Director and CEO of EBL and Peter Maerevoet, Global CFO and Regional CEO of TradeWind Asia signed the documents through an online conference, said a press release.

EBL DMD Ahmed Shaheen and Head of International Business Md Obaidul Islam, Tradewind Regional Commercial Leader (RCL) for South Asia and Middle East Soheil Jali were also present there among others.

Under this joint venture, EBL will collaborate with Tradewind for export factoring where local exporters will be able to obtain their deferred receivables from overseas importers on a sight basis.

The process is faster, more secured, and will protect the interest of Bangladeshi exporters.

Also read: Own Your Dream Nest: Home Loan in Bangladesh

The Directorate General of Drug Administration (DGDA) has approved the surgical mask of Minister Hi-Tech Park and permitted its commercial manufacture.

In a press release, Minister said they took the initiative to manufacture high-quality triple-layer surgical masks with melt-blown fabric when the market was flooded with high priced low-quality single layer masks. 

Minister's "Safe Life Surgical Mask" has three layers of protective layers with melt-blown which is 99 percent and it is antibacterial. It will ensure protection from coronavirus and other airborne diseases and germs, it added. 

Wearing a mask is very important to prevent the transmission of coronavirus. 

Experts said the use of masks can reduce sneezing, or coughing and hand-to-mouth infections. 

Major General Md Mahbubur Rahman, Director General of the DGDA, expressed satisfaction over the quality of the mask, saying, "Minister Surgical Mask is high quality mask which has triple-layer with melt-blown fabric." 

He also urged to market these surgical masks at affordable prices.

MA Razzak Khan Raz, Chairman of Minister Hi-Tech Park, said the mask will soon be available in the market at Tk 10 per piece.

"We’re working with the promise of delivering this mask at affordable prices to the people, with the slogan 'Manusher Jonno, Minister-er Ponno', but not for any business purpose,” he added. 

Also read: Coronavirus in Bangladesh: Total cases near 1.5 lakh, 41 more die in 24 hrs

Unilever on Wednesday appointed KSM Minhaj, currently Customer Development Director of Unilever Bangladesh Limited, as the Managing Director of the newly acquired company.

Unilever successfully completed acquiring 81.98 percent shares of GlaxoSmithKline Bangladesh Limited (GSKBD) from Setfirst and has proposed to rename the company as Unilever Consumer Care Limited subject to necessary approvals.

The declaration was made after getting approval from the Board of Directors of GlaxoSmithKline Bangladesh Limited (“Company”) at its 297th meeting held June 30, according to a press release.

KSM Minhaj’s new role as Managing Director will be in effect from July1, 2020.

Minhaj brings with him two decades of FMCG experience across multiple categories in Foods, Home and Personal Care, while leading both Marketing and Customer Development Functions as a member of the Management Committee of Unilever Bangladesh over the last 9 years.

He started his career at Nestle Bangladesh in 2000, doing stints in Supply Chain and Brand Management before joining Unilever in 2006.

He was one of the youngest Marketing Directors of the country in 2011, leading a marketing team that successfully reshaped the Laundry, Skin and Hair portfolio delivering both competitive and profitable growth.

The seeds of the future businesses like Water, Savory and Hand & Body were also sown in his leadership through introduction of brands like Pureit, Knorr and Vaseline.

In 2014, Minhaj was appointed Director of Sales & Customer Development at UBL. Over the last six years, he has successfully transformed the function, making it future-fit by driving execution excellence, expanding distribution base, and creating a fine blend of Go-to-Market talent.

The Board of GlaxoSmithKline Bangladesh Limited was reconstituted post acquisition of 81.98 percent shares of GSKBD by Unilever Overseas Holdings B.V. and Masud Khan is reelected as the Chairman of the Board.

Unilever’s focus is to build a profitable and sustainable Nutrition business in Bangladesh and support government’s national agenda to combat malnutrition in all its forms.

Unilever Consumer Care Limited will continue as a public listed independent entity and all the brands of GSK Bangladesh (Horlicks, Boost, Glaxose-D) will continue to be a part of company’s portfolio.

KSM Minhaj said: “It will be a huge privilege to lead Unilever’s nutrition business in Bangladesh. I cannot help but celebrate the moment as two of the most respected global organizations operating in Bangladesh join hands to take the nutrition business to a greater height. I’d also like to extend my gratitude to the Board for their confidence in me and wish to continue the great work done by my predecessors while taking the business ahead. I believe with such high quality of talent and purposeful brands we will be able to build an inspiring Foods & Refreshment business in Bangladesh."

Also read: Unilever rebranding 'Fair and Lovely'

To enhance the personal hygiene sector of the nation during coronavirus (COVID-19) pandemic, Berger Paints Bangladesh has expanded its business and launched Berger Mr. Expert Advanced hand sanitizer as per WHO recommended formulation.

In the absence of a vaccine or effective antiviral drugs, hand hygiene is a mainstay of efforts to prevent the spread of COVID-19. Handwashing is not always practical. So, alcohol-based hand sanitizers provide a quick, simple alternative. However, not all formulations are effective; thus, the World Health Organization (WHO) recommended two alcohol-based sanitizers formulations to prevent the spread of COVID-19.

Berger Paints Bangladesh is commercially producing its hand sanitizers by following the formulation of WHO, said a press release.

Berger Mr. Expert Advanced hand sanitizers are getting manufactured after the company has received all the necessary statutory approvals and permissions from the Department of Narcotics Control.

Additionally, the company has distributed hand sanitizers among its dealers and painters to boost personal hygiene and safety.

Berger Mr. Expert Advanced hand sanitizer will be liquid-based, with a pack size of 250ml, and will cost BDT 180.

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.