Business
IFC, EU and MCCI join hands to boost women’s employment in Bangladesh private sector
In a move to unite leading businesses and spur greater action on women’s employment across industries in the private sector, the International Finance Corporation (IFC) has launched a flagship network --‘Partnership for Women’s Employment: The Business of Equity’.
The IFC, the private sector arm of the World Bank, has partnered with the European Union and the Metropolitan Chamber of Commerce and Industry (MCCI).
According to the IFC, the two-year partnership will act as a catalyst for economic growth and inclusion, helping empower women across Bangladesh.
Women comprise one-third of the country’s workforce, with only 4 percent of businesses having women in top management.
Care responsibilities, access to jobs, mobility limitations, and social norms are key barriers to women’s economic participation. Closing these gender gaps can add up to $30 billion to Bangladesh’s gross domestic product (GDP).
“The business case for increasing women’s participation in the workforce is irrefutable. Inclusive businesses have better financial performance, talent retention, reputation, and investor confidence,” said Zareen Tasnim, Programme Lead, Partnership for Women’s Employment, IFC, Bangladesh.
“This partnership – a first of its kind in Bangladesh – will help equip businesses with practical knowhow on closing corporate gender gaps while contributing to companies’ bottom line, productivity, and growth, leading the way for a thriving private-sector anchored in equity and inclusion.”
Global research indicates that women’s economic participation in the private sector yields better financial results, greater innovation, and push for improved company culture.
For instance, companies with gender diverse boards generate over 50 percent higher return on equity and over 65 percent higher return on investment.
This initiative will also focus on creating a respectful and supportive workplace, particularly for working parents, and increasing women's presence in the green economy, aligning with Bangladesh’s focus on climate sustainability and a just transition.
“The European Union is dedicated to advancing gender equality, promoting women’s economic empowerment and opportunities for women and together, we are building an inclusive and equitable environment for all,” said Charles Whiteley, Ambassador & Head of Delegation, EU Delegation to Bangladesh.
“The Partnership for Women’s Employment aims to boost women participation by fostering their advancement and retention and engage in actively dismantling gender-specific economic barriers by cultivating respectful workplaces.”
Leading companies including AkijBashir Group, Bata Bangladesh, BRAC Bank, City Bank, DBL Group, Eastern Bank, Energypac Electronics, Fakir Knitwears, IDCOL, IPDC, Mutual Trust Bank, PRAN Group, Prime Bank, Singer, Standard Group and Urmi Group, with a combined workforce of over 149,000 employees have already joined the partnership.
Participating businesses range from financial services, fast-moving consumer goods, electronics, agribusiness, to textile and apparels.
“The Partnership for Women’s Employment will foster commitment, mutual learning and action by the companies around a variety of employer-supported strategies, policies and practices to boost women's participation in Bangladesh’s private sector,” said Kamran T. Rahman, President from MCCI.
“This will present an opportunity to build on the country’s growth and success story and unlock the immense potential of women in the workforce, paving the way for a brighter, more inclusive future.”
IFC works to reduce gaps between men and women in the private sector, enabling companies and economies to improve their performance.
Various IFC initiatives across the globe – including in India, Nepal, Pakistan, Sri Lanka, the Middle East, and the Pacific Islands – on investing in women’s employment opportunities have proven to be an effective business strategy.
BGMEA president meets textiles minister to discuss further development of the sector
Faruque Hassan, President of Bangladesh Garment Manufacturers and Exporters Association (BGMEA), held a meeting with Jahangir Kabir Nanak, minister of Textiles and Jute, at the secretariat in Dhaka on Wednesday.
They had discussions concerning issues related to the development of the apparel and textile industry in Bangladesh, with a particular focus on enhancing the capacity of the local textile industry in the production of non-cotton yarn and fabrics, according to a press release.
Their conversations also encompassed exploring opportunities and strategies to enhance value addition in the RMG sector by using yarn and fabrics manufactured by local textile mills.
The BGMEA president apprised the minister of the RMG industry’s special emphasis on producing value-added garments based on man-made fibres to meet the increasing demand in the global market, it said.
The gradual shift towards non-cotton products has led to an increase in demand for yarn and fabrics, he said, adding that the local textile sector could meet this demand by developing its capabilities.
This, in turn, would contribute to an enhanced value addition to garments, the release said.
Faruque highlighted the industry’s ongoing transition towards sustainability and circularity, aligning with global business trends.
He stressed the need to explore the potential of manufacturing fabrics from jute, aligning with the growing demand for eco-friendly apparel in the global market, it added.
He sought the support of the Textiles and Jute Ministry in paving the way for research on making fabrics from sustainable materials like jute and bamboo.
He also mentioned BGMEA’s ongoing efforts to promote the development of high-value fashionable garments using locally produced heritage fabrics like Muslin, Jamdani, and Khadi and link them to the export market.
Faruque urged the government to ensure a continuous and smooth gas supply to all export-oriented industries, including RMG and textiles, to facilitate seamless production, the release also said.
BGMEA Director Barrister Vidiya Amrit Khan and Shams Mahmud, Chair of the BGMEA Standing Committee on Foreign Mission Cell, were present in the meeting.
FBCCI and CWEIC will work together to enhance trade in Commonwealth countries
The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and the Commonwealth Enterprise and Investment Council (CWEIC) will work closely to enhance trade between Bangladesh and other Commonwealth countries.
FBCCI invited CWEIC to help expand exports of textiles, pharmaceuticals, and agricultural goods to Commonwealth countries.
FBCCI President Mahbubul Alam made the call while hosting a dinner meeting on Tuesday night in honour of Lord Marland, Chairman of the CWEIC.
Bangladesh is becoming an attractive investment hub for industry diversification, integration of the industry value chain, and export market expansion, said Mahbubul.
“Bangladesh has crossed the milestone of $55.55 billion in exports in 2022–23. Following this trend, we are working to develop competitiveness to achieve the trillion-dollar journey of our economy and to earn our target export worth of US$ 300 billion by 2041,” he added.
The CWEIC can play a crucial role in opening doors for Bangladeshi products in global Commonwealth markets, particularly highlighting our strengths in textiles, pharmaceuticals, and agriculture, he also said.
“We can collaborate in different sectors like technology transfer and innovation, IT, renewable energy, education and skills development and vocational training, healthcare and pharmaceuticals, and access to finance for SMEs,” the FBCCI president said.
Marland praised Bangladesh's development in recent years.
Lord Marland said everyone is talking about Bangladesh’s economic growth. I believe the country will be a ‘Smart Bangladesh’ by 2031, 10 years before the assumed time.
“CWEIC will work closely with FBCCI to further bolster trade and investment and explore the untapped potential between the two commonwealth countries,” he added.
BKTCC and IBBL arrange discussion on sending remittances through legal channels
The Bangladesh Korea Technical Training Centre (BKTTC), in association with Islami Bank Bangladesh PLC, organised a discussion for outgoing expatriates to send remittances through legal channels at the BKTTC auditorium on Tuesday.
Engr Md Lutfur Rahaman, principal of BKTTC, presided over the programme, while Miftah Uddin, Deputy Managing Director of the bank, was present as the chief guest, according to a press release.
Mahmudur Rahman, Senior Executive Vice President, and Mohammad Ehsanul Islam, Senior Vice President of the bank, attended the programme as special guests.
Mohammad Shahadat Ullah, Senior Vice President, and Saifuddin Mohammad Khaled, Senior Assistant Vice President, discussed the importance of opening bank accounts and sending remittances through legal channels.
Mizanur Rahman, Senior Vice President, addressed the welcome speech. More than 300 outgoing expatriates, along with executives and officials from both institutions, were present on the occasion.
Sick industry owners seek PM's intervention in implementing exit plan
The owners of the sick industries identified by the government have sought the Prime Minister's intervention in implementing the exit facility announced prior.
The first meeting of the FBCCI Standing Committee on Rehabilitation of Sick Industries was held at the FBCCI office on Tuesday afternoon.
The sick industrial owners said that after resuming state power in 2009, the government formed a high-powered task force for the rehabilitation of sick industries and the settlement of debts.
Later, according to the decision of the task force, the government issued a circular for the factory debt relief scheme, but they complained that they could not take the exit due to the non-cooperation of the bank.
Even though these industries are weak, the banks have filed lawsuits in court against the owners who defaulted on loans. They are not able to accept new business ventures. In this situation, the owners of sick industries are seeking the help of the Prime Minister.
Attending the meeting as the chief guest, FBCCI President Mahbubul Alam assured to hold a meeting with the government on important proposals, including the implementation of exit facilities for the industries.
The chairman of the committee, Sadek Ullah Chowdhury, director of the committee, Rezaul Karim Reznu, senior vice president of FBCCI, Amin Helaly, director Abu Motaleb, Hafez Haji Harun-or-Rashid, Kawsar Ahmed, former director Najibur Rahman, and co-chairman of the committee, were present.
Meeting a 30-40% working capital shortage is a big challenge for industry: DCCI President
The President of Dhaka Chamber of Commerce and Industry (DCCI) Ashraf Ahmed on Tuesday said that there is a 30-40 percent working capital shortfall in the industries due to the rising exchange rate of the US dollar with the local currency.
As a result, the entrepreneurs involved in trade and commerce have to arrange additional money to operate the business, otherwise, the cost of business would have to be reduced.
The DCCI said this at the 'CMJF Talk' programme, organised by Capital Market Journalists Forum (CMJF) in the capital on Tuesday.
He said meeting the demand for additional working capital is a big challenge for business.
“If it is not possible to meet this demand of additional capital, the impact of that will reduce production, shrink employment,” he added.
The DCCI President thinks that the biggest challenge is to maintain the private sector through loan growth this year.
Ashraf said, “We can work with the government to implement various policies. In the present reality, many new types of industries are developing in the country. If the capacity is increased with Smart Bangladesh Vision, it is possible to raise the country's economy to one trillion (one lakh crore) dollars.”
The program was organized by the organization's general secretary Abu Ali at the old Paltan CMJF office in the capital.
CMJF President Golam Samdani Bhuiyan and Secretary Abu Ali also spoke at the function.
TECNO SPARK 20Pro launched in Bangladesh
Smartphone brand TECNO has announced the launch of the SPARK 20Pro in Bangladesh.
The latest addition to its SPARK series, packed with powerful features a 120Hz display, 108MP main camera, and 33Watt fast charging, according to a press release.The SPARK 20Pro boasts a stunning 6.78-inch HD+ 120Hz Hole Screen, delivering smooth visuals and a seamless experience. The smartphone also introduces groundbreaking imaging capabilities with its 108MP Ultra Sensing Main Camera, setting a new standard for clarity and detail in SPARK's history, it said.
This flagship-level camera offers unparalleled resolution and versatility, featuring 10X digital zoom for excellent clarity at distance. With an ultra-large sensor and wide aperture, it effortlessly adapts to various lighting conditions, capturing every moment in vivid detail. Additionally, the 32MP Glowing Selfie camera ensures stunning self-portraits with AI-powered enhancements.With its powerful MTK Helio G99 (6nm) chipset, it sets great standards for optimized and stable operations, ensuring a superior user experience every day. The AI-powered Aurora Engine boosts the launch rate for games and popular apps, while the Darwin Engine's deep optimization enhances frame rates and reduces temperature rise, providing an exceptional, lag-free gaming experience with minimal heat. This phone boasts massive 256GB storage and up to 16GB RAM (*8GB+8GB), a combination of big RAM and a powerful processor, ensuring top-notch gaming and daily performance, the release said.The SPARK 20Pro introduces innovative dual video camera features, allowing users to capture reactions and surroundings alongside the main action, ideal for vlogs and creative content.This phone is equipped with stereo dual speakers. To ensure uninterrupted usage, it boasts a massive 5000mAh battery with 33-watt fast charging technology, allowing users to stay connected longer without worrying about running out of power.The TECNO SPARK 20Pro offers two stylish color options: the Elegant Sunset Blush and the Moonlit Black, all at a competitive price of BDT 21,999 (VAT applicable).With its impressive features and price, the SPARK 20Pro is set to become a popular choice for users seeking a powerful and stylish smartphone experience.
BPL 2024 live streaming available on My Robi App
Live streaming facility of the country’s premier T-20 league, Bangladesh Premier League (BPL) is available on Robi’s smart app, My Robi according to a press release.
The 10th edition of BPL has started from January 19. The participating teams include defending champions Comilla Victorians, Rangpur Riders, Durdanto Dhaka, Khulna Tigers, Fortune Barishal, Chattogram Challengers, and Sylhet Strikers.
A total of 46 BPL matches can be enjoyed by viewers from three venues of the country naming Sher-e-Bangla National Cricket Stadium in Dhaka, the Zahur Ahmed Chowdhury Stadium in Chattogram, and the Sylhet International Cricket Stadium in Sylhet, it said.
To elevate the viewing experience and be a part of the pulse-pounding energy, customers need to download the My Robi app and purchase subscription of Rabbithole. There are the 3 packs available for subscription- 20 taka daily pack, 99 taka monthly and half yearly pack at 499 taka.
The Coca-Cola Foundation, Cordaid launch plastic ‘Buy-Back’ center in N’ganj
Cordaid’s plastic waste management project RESILIENT in Dhaka North City Corporation and Narayanganj City Corporation marks a new milestone with the launch of one of the key components of the initiative, Buy-Back Centre (Plastic Bazar) in Narayanganj, according to a press release.
The project was made possible due to a grant from The Coca-Cola Foundation, it said.
By establishing Buy-Back Centers, the project aims to elevate two waste collectors to the level of aggregators, creating green entrepreneurs and enhancing plastic waste collection methods to eliminate plastic waste from ecosystems.
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These centre act as community recycling facilities, where recyclables like plastics, paper, cans, glass, and PET bottles are purchased, sorted, and resold to aggregators and recyclers. This system allows 400 local waste collectors and approximately 11,000 community members to earn an income by selling their recyclables.
Mohammad Zakir Hossain, Chief Executive Officer of Narayanganj City Corporation inaugurated the centre.
In addition, Abul Kalam Azad, Program Director, Cordaid and Md Firoz Alam, Project Manager – RESILIENT, Cordaid Bangladesh were present at the time, among others.
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One of the key contributors behind the thought process of the Buy-Back center, Narayanganj Mayor Dr Salina Hayat Ivy said that, “The City Corporation has been working tirelessly to make Narayanganj city green, clean, vibrant, and pollution-free. Creating green Narayanganj has always been our dream. In line with this, innovative approaches like Plastic Buy-Back Centers will further accelerate our work. This is a commendable initiative and it will financially enable the waste workers, especially female waste workers. I appreciate everyone associated with this initiative, including the residents of the city, and urge everyone to work together to tackle the issue of plastic pollution more effectively.”
While Buy-Back Centres offer transformative benefits for all waste collectors, women are more encouraged to participate and benefit from this initiative as they are less privileged in this sector. These centres provide a more formalized and stable platform for selling recyclable materials, potentially leading to consistent and higher incomes, added the release.
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Cordaid, with support from The Coca-Cola Foundation, is implementing the RESILIENT project (Recycling for the Environment by Strengthening Income and Livelihood of the Entrepreneurs) in Dhaka North City Corporation and Narayanganj City Corporation.
This project aims to enhance plastic waste management through capacitating both formal and informal plastic waste actors and collaborating with local service providers, city corporations, civil society organizations, and the private sector. The project focuses on at-source segregation of plastic waste in targeted clusters, ensuring the recovery of unsoiled plastic for increased income and livelihood opportunities.
The Coca-Cola system in Bangladesh and The Coca-Cola Foundation are playing a significant role in supporting Bangladesh to achieve Sustainable Development Goals (SDGs) set by the United Nations. Local initiatives of the company’s global initiatives such as Plastic collection, Water Stewardship and Women Business Centre actively contribute to community development.
Most In-Demand High-Paying Non-Technical Jobs in 2024
There’s a common misconception that all lucrative jobs are technical or IT-related. But the truth couldn’t be further off. While it is true that IT jobs make the most money by 2024 standards, there are other non-tech jobs as well that fetch well over six digits. Here’s what they are and what you’ll need to secure one.
10 Best Careers for Non-Technical Professionals
For the sake of uniformity, the job requirements and the annual payout will be according to the US national standard. While the payout might vary across regions, the skill set and requirements remain more or less the same.
PR Specialist
A public relations specialist is essentially the face of any company. The primary responsibilities of a PR specialist include everything related to the customer side interactions. A PR specialist is also responsible for developing PR strategies and overseeing implementation procedures.
Other key responsibilities include drafting press releases, speeches, and other communication materials. In extraordinary cases, a PR specialist is also responsible for crisis management strategies. These include avoidance of negative publicity.
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A PR specialist is expected to have degrees in public relations, communication, or other related fields. An APR certification is an added plus for a specialist role.
The average salary for a PR specialist is around 60,122 USD or around 6,58,6557 BDT per year (1 USD = 109.55 BDT).
Content Manager
A content manager is responsible for curating and executing the content strategy of any business. Additionally, a content manager is expected to create and publish content. The medium includes social networks and media outlets. One of the key responsibilities for this position is to ensure precise consistency in brand messaging. A content manager is also responsible for analyzing different performance metrics.
The position requires a bachelor's in marketing, communication, journalism, or related fields. The annual salary for the content manager position is around 60,634 USD or 6,64,2648 BDT per year.
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Market Research Manager
Market research managers are responsible for analyzing the market. It also encompasses the identification of relevant trends within the organization’s operating industry. The position comes with the stringent responsibility of analyzing and drawing insights from the market. The data output helps to make informed decisions. A market research manager is also expected to develop and implement new research methodologies. The goal is to cater to organizational needs and efficiency. Another key responsibility for this position is to maintain liaison with the management.
A market research manager is expected to have a bachelor’s or master’s in marketing, business, statistics, or business analytics. The gross salary for this position is around 60,442 USD or 6,62,1614 BDT per year.