business
Fast food brand ‘‘FRY BUCKET’’ starts its journey
Good news for fried chicken lovers as PRAN group launched a new chain-shop of fast food market named ‘FRY BUCKET’.
The FRY BUCKET launched its maiden outlet at the capital Dhanmondi on Thursday. Eleashb Mridha, Managing Director at PRAN group, inaugurated the outlet through a program held at Nilu Square of Satmasjid road of Dhanmondi.
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Addressing the program, Eleash Mridha said, “The number of people, who enjoy fast food and entertainment, are increasing day by day. Therefore, many of us are choosing the fast food retails to give the time for their family members. For these reasons, many international fast food brands are doing good in our country. We do believe, FRY BUCKET will get popular among the customers soon.”
He also said, “Our relentless effort will be continued so that customers can get the best service and standard products from the `FRY BUCKET’. We believe, consumers love bring us here and we also want to go far with their continuous support.”
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Ibrahim Khalil, Head of Business at FRY BUCKET said,” We have a plan to open 100 outlets across the country. Firstly, we will open FRY BUCKET outlets at divisional level. Then we will set up it in districts level. This way, we want to go to the people of all classes. We have a plan to open outlet in abroad in the future.”
Touhiduzzaman, Assistant General Manager (Public Relations) at PRAN-RFL Group and Borhan Uddin, Brand Manager at FRY BUCKET and among others, were also present at the program.
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Real Estate Business in Bangladesh is booming again overcoming the brunt of Pandemic
Starting from March 2020, a series of lockdowns announced by the government to prevent the spread of coronavirus in Bangladesh has caused a collapse in the country's economy. It affected all kinds of large and small businesses. And real estate business is not a different case.
The housing industry or construction sector plays a big role in keeping the wheel of the country's economy moving. There are about 458 sectors closely involved in this industry. The current Covid-19 disaster has brought the housing industry to a halt like other sectors. In the first and second quarters of 2020, the entire housing sector has come to a halt due to the lockdown for more than a month.
Read:F-commerce in Bangladesh: Problems and Prospects
However, the demand for apartments has increased due to lower interest rates on bank deposits and home loans. Many are now interested to buy apartments than renting them.
Situation of the Real Estate Business in Bangladesh before Pandemic
To understand the actual situation, we will have to go back to 2012. The recession in the housing sector started in 2012. In the next year, the housing business took a terrible shape because of the political unrest.
During that time, many real estate companies were unable to find a client even after reducing the apartment prices. Furthermore, many buyers also canceled their bookings due to non-payment of installments. After that turbulent time, the real estate business situation was a bit better in 2016, but the crisis was yet to see an end.
Read:ToguMogu: One Stop Solution for Bangladeshi Parents
However, in the middle of 2018, it was announced to give home loans to government employees at 5 percent interest. The process of reducing the registration cost also started in 2019. As a result, the housing business was in a positive trend until Covid-19.
Present Situation of Real Estate Market in Bangladesh
Market observers say money is scarce for the common man. Medium businessmen and traders have also been affected by the corona. Even then, the demand in the housing sector is increasing. In this upward trend of demand, mainly government employees are in the driver's seat. They are buying flats and land using government loans and other facilities. Market observers say money is scarce for the general people.
Read Best Home Loans in Bangladesh to Build Your Dream Nest
Why does the Real Estate Industry See a Rise in Bangladesh?
Government employees have been given housing loan facilities up to Tk 70-75 lakh. This facility has played a big role in the expansion of land and flat business, as claimed by the companies in the real estate sector. In addition, the approval of non-tax income investment announced last year has also played an important role in this regard.
After the announcement of this opportunity, more than Tk 3,200 crore tax-free investments have come in the housing sector. In addition, measures such as 9% interest on home loans, reduction of land transfer tax rate from 2% to 1%, and reduction of stamp duty from 3% to 1.5% have also worked as a catalyst for the expansion of the sector.
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Grameenphone, Brac team up to support Covid-hit families
Over 33,300 families received financial support from Grameenphone as part of "Dakche Abar Desh," a Covid response initiative of Brac.
The initiative is part of a series of Grameenphone's "Covid-19 responses," which plans to tackle the impact of the pandemic and help societies, namely support the families who have been hit hardest by lockdowns.
Read: GP pays another Tk 1000 crore to BTRC
"Dakche Abar Desh" (Bangladesh Calls Again) has been one such activity designed to help the vulnerable families living in poverty and surviving on daily wages since the inception of the outbreak.
On July 16, Grameenphone announced it would team up with Brac. So far, 33,333 families have received financial aid through mobile financial services.
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The disbursements have been completed using Grameenphone's contribution to the cause.
The telecommunications service provider's employees also came forward to respond to the nation's call and joined the cause.
Read Grameenphone contributes Tk 31.4 crore to Labour Fund
Also, Grameenphone and Brac responded to the crisis last year by providing financial support to over 100,000 families.
India will become hub for automobile manufacturing in next 5 yrs
Minister of Road Transport and Highways Nitin Gadkari on Tuesday expressed hope that India will become a hub for automobile manufacturing in the next five years.
"Almost all reputed automobile brands are present in India. As we are working on technologies involving ethanol, methanol, bio-diesel, Compressed Natural Gas (CNG), Liquefied natural gas (LNG), electric and green hydrogen, I believe that India will become a hub for automobile manufacturing in next five years," said the minister.
Read:India's digital economy to grow 10x to $800 bn by 2030
Earlier, on August 13, the prime minister, while addressing the Investor Summit in Gujarat via video conference, said that "Be it ethanol, hydrogen fuel or electric mobility, with these priorities of the government, active participation of the industry is very important."
"In the midst of this change, it is equally important to protect our environment, our land, our resources and our raw material," he said.
Motorola expects India business to grow at least in triple digits
Motorola on Tuesday said its focus on bringing innovative smartphones at different price points has helped the company log "profitable, hyper growth", and it aims to grow "at least in triple digits" in the Indian market over the coming quarters. Speaking with PTI, Motorola Executive Director (Asia-Pacific) Prashanth Mani said the pandemic has had varying impact on different industries.
"For the whole (smartphone) industry and specifically for Motorola and Lenovo, I think we have seen a lot of hyper growth to our business overall.
"Last quarter, we finished at 64 per cent revenue growth in Motorola globally and this has not just happened in one region or two, we have seen very high double-digit or triple-digit growth in all the geos across Motorola," he said.
Read: Indian economy, hit by COVID-19, shrinks by 7.3% in 2020-21
In Latin America, Motorola had about 21.2 per cent market share - its highest ever.
Europe, Middle East and Africa (EMEA) and Asia-Pacific have registered five consecutive quarters of profitable growth. EMEA revenue grew 42 per cent year-on-year, while that from APAC was up 161 per cent y-o-y.
"In India, we've had three consecutive quarters of more than 300 per cent y-o-y growth. Last quarter, we had a 349 per cent growth in revenue, profitable growth.
"We've grown 235 per cent faster than the market, we call it premium to market that is a key metric for us," Mani said.
In volumes terms, the company saw 351 per cent y-o-y growth in the June 2021 quarter.
"We are seeing very strong performance across regions, across markets, specifically in India.
"Our aim is to grow at least in triple digits, and obviously, I think we are saying that the market is not going to grow at triple digits. So, we will be gaining shares every month, every quarter," Mani said.
He added that the company is focussed on growing much faster than the market and growing profitably.
Asked about factors that have helped Motorola register such strong growth, Mani said the company is focussed on "bringing in innovations which are at different price points", which is the fundamental core belief of Motorola.
Demand for smartphones and PCs have soared across the globe amid the pandemic as people embraced work and study from home.
The April-June quarter saw the Indian smartphone market clocking 86 per cent year-on-yeargrowth to reach about 34 million units. Xiaomi led the market with a 29.2 per cent market share, followed by Samsung (16.3 per cent), Vivo (14.8 per cent), Realme (14.5 per cent) and Oppo (11.6 per cent) in the June 2021 quarter, as per data from research firm IDC.
Motorola, on Tuesday, also launched two new devices -- to strengthen its position in the mid-premium segment.
These Made-in-India additions to the 'edge' franchise feature sleek and premium designs, powerful processors, 108 MP cameras, 10-bit AMOLED displays, up-to 135G band support and innovation through the 'Ready for' software platform.
The 'edge 20 fusion' is priced Rs 21,499 onwards, while 'edge20' will be available for Rs 29,999. Both smartphones will be available in India later this month.
This article was publishe in The Economic Times
IBBL, BHBFC sign customer service agreement
Islami Bank Bangladesh Limited (IBBL) and Bangladesh House Building Finance Corporation (BHBFC) signed a customer service agreement on Wednesday in the capital.
Professor Dr Md Salim Uddin, chairman of BHBFC, joined the programme as chief guest and Mohammed Monirul Moula, managing director and CEO of IBBL, presided over it.
Read: IBBL Dhaka zone holds online conference
Md Afzal Karim, managing director of BHBFC, and Muhammad Qaisar Ali, additional managing director of IBBL, addressed the programme as special guests.
Md Omar Faruk Khan, additional managing director of IBBL, delivered the welcome speech.
JQM Habibullah, deputy managing director of the bank, and Md Atiqul Islam, general manager and project director of BHBFC, signed and handed over the investment distribution agreement of rural and peri-urban housing investment project "Manzil".
Taher Ahmed Chowdhury, deputy managing director of the bank, executives and officials of both organisations were present on the occasion.
Under the agreement, Islami Bank will carry out joint venture investment of the Islamic Development Bank and BHBFC for the lower and middle-class people in rural and peri-urban areas.Islami Bank Bangladesh Limited (IBBL) and Bangladesh House Building Finance Corporation (BHBFC) signed a customer service agreement on Wednesday in the capital.
Professor Dr Md Salim Uddin, chairman of BHBFC, joined the programme as chief guest and Mohammed Monirul Moula, managing director and CEO of IBBL, presided over it.
Md Afzal Karim, managing director of BHBFC, and Muhammad Qaisar Ali, additional managing director of IBBL, addressed the programme as special guests.
Read: IBBL inaugurates Bauphal sub-branch in Patuakhali
Md Omar Faruk Khan, additional managing director of IBBL, delivered the welcome speech.
JQM Habibullah, deputy managing director of the bank, and Md Atiqul Islam, general manager and project director of BHBFC, signed and handed over the investment distribution agreement of rural and peri-urban housing investment project "Manzil".
Taher Ahmed Chowdhury, deputy managing director of the bank, executives and officials of both organisations were present on the occasion.
Under the agreement, Islami Bank will carry out joint venture investment of the Islamic Development Bank and BHBFC for the lower and middle-class people in rural and peri-urban areas.
Job opening at UNB
United News of Bangladesh (UNB), the country's premier news agency and the Dhaka Courier English Newsweekly) is looking for a strong candidate to fill the post of a Business Reporter. The applicant should have sharp news sense and the ability to find and analyze data, and file good business and economic stories in English.
Position: Business Reporter
Vacancy No: 1
Company Name: United News of Bangladesh
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Job Responsibilities
• Develop innovative ideas for writing and reporting business news.
• Stay updated with latest Business, Finance, and Economics.
• Research business stories and prepare interview questions as and when required.
• Discuss and develop ideas to write strong and sophisticated stories to attract readers.
• Research, write and submit accurate stories within established timelines.
• Write breaking news and business stories in unique and interesting ways through info graphics and illustrations.
• Build and maintain strong relationship with news contacts.
• Must seek out and set up interviews with sources and relevant individuals or organizations for each story.
• Analyze the information gathered to determine which facts are pertinent to the story.
• Write each story, according to the publication's editorial style and formatting guidelines.
• Proofread articles before submitting them to an editor or desk team for publication.
• Track and cover any business/economics related events, forums and seminars and actively represent UNB/Dhaka Courier.
• Analyze and track big data for text, video stories.in order to show trends and pattern.
• Be able to utilize smartphone to capture photos, videos and recordings to supplement text stories.
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Employment Status : Full-time
Educational Requirements
• Graduate (Honours/ Postgraduate in Economics/ English/ Journalism
• Jahangirnagar University, University of Dhaka, University of Liberal Arts Bangladesh students will get preference
Experience Requirements: At most 3 years
The applicants should have experience in the following area(s):
- Content writer, News editor, News Reporter, Staff Reporter
The applicants should have experience in the following business area(s):
- Newspaper/Magazine, Online Newspaper/ News Portal
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Additional Requirements
• Both males and females are allowed to apply.
• Having excellent computer literacy
• Ability to engage with the audience and being social media savvy
• Must be responsible, reliable, highly energetic and hardworking
• Ability to handle pressure
• Positive attitude and self-motivated
Job Location: Dhaka, Bangladesh
Salary: Negotiable
Dateline: August 26, 2021
If it matches your profile and your interest, send you resume with your portfolio to [email protected]
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F-commerce in Bangladesh: Problems and Prospects
Bangladesh has increased a surge in digitization in every sphere. The increased connectivity has made access to smartphones and the internet more affordable and easier than ever. This has paved the path for different social media engagements like Facebook. The connected nature combined with a robust user base has given rise to the F-commerce ecosystem. So, where does Bangladesh stack up in the F-commerce scenario? What are the problems and prospects? We take a deeper look at this article.
What is F-commerce?
F-commerce is the short form of Facebook commerce. Globally there are 2.85 billion active Facebook users. That accounts for around one-third of the total population of the world. Almost a billion of them are regular users who log in at least twice every week. The increased user base has prompted the use of the platform as a business space which soon transitioned into small to medium scale businesses.
There are about 46 million active Facebook users in Bangladesh. The high user base has promptly encouraged small businesses to take up the platform as a marketplace. There are about 2000 dedicated eCommerce platforms in Bangladesh whereas there are over 300000 F-commerce pages doing business.
Read Potential of e-commerce hemmed in by bottlenecks
Due to lack of regulation, a large portion of the business goes unaccounted for. However, out of a total of 7000 crores BDT worth of eCommerce sales, F-commerce accounted for over 1000 crore BDT in sales. This is a testament that Bangladesh is slowly making the transition to the F-commerce revolution.
Problems facing F-commerce in Bangladesh
A high tariff on import
Most of the F-commerce platforms in Bangladesh are import-based resellers. Most of the products are sold on a pre-order basis or niche customer base. As a retail importer, they face high import tariffs which are driving the cost up at the customer level. This price is not regulated at all and different vendors sell the same product at a different price which is a detriment for the customer.
Logistics
Another prime problem facing F-commerce is the lack of logistical support. Unlike the large eCommerce platforms of Bangladesh, the F-commerce businesses don’t have a dedicated shipping mechanism. As a result, they are forced to rely on local couriers and delivery partners. The third-party shipping method further drives up the cost in the customer end in the form of delivery charges.
Read 8 Mistakes to Avoid in a New Ecommerce Startup in Bangladesh in 2021
No legal framework
There is no legal framework to regulate the F-commerce sites. There are over 300000 Bangladeshi pages on Facebook alone doing business in various niches. The different regulations and permission required to set up a business don’t apply as there is no regulatory authority overseeing the entire process. As a result, there is no limitation to price competency, product regulation, and customer end experience.
Lost revenue
The government is losing a huge amount of revenue in the form of tax from the F-commerce platform. With the absence of regulatory bodies, there isn’t even an appropriate estimation of the number of operating F-commerce pages. These pages are doing business of over 300 crores. The pandemic caused a paradigm shift in business conduction as more and more people are getting inclined to online shopping. There has been a reported increment of over 70% to 80% increment in sales across the board. However, the government doesn’t receive any form of GST or sales tax from these pages.
Read The SWAP story of Bangladesh's first reCommerce startup
Job Circular on Rupayan Group
Rupayan Group is hiring the following position. It is one of the leading group of company in Bangladesh Established in 1989.Making Innovative strategy and giving dedication to the work by the skilled employees, that is the main concept how Rupayan group keeping our business in a sustainable position.
Position Name :Dy. Manager/ Manager - Sales (Rupayan City Uttara)
Vacancy: Not specific
Job Responsibilities
To achieve monthly and yearly sales targets.
To visit prospective customers regularly.
To ensure optimum utilization of promotional materials.
To maintain relationships with the existing customers.
To submit various reports to the line manager.
Employment Status
Full-time
Educational Requirements
Bachelor degree in any discipline
Masters / MBA is preferred.
Skills Required: Analytical Skills, Decision making, Problem Solving, Sales & Marketing, Strong Convincing Negotiation Skills
Experience Requirements
At least 10 year(s)
The applicants should have experience in the following area(s):Real Estate product, Real Estate Sales
The applicants should have experience in the following business area(s):Developer, Group of Companies, Real Estate
Additional Requirements
Age 28 to 40 years
Only males are allowed to apply
Salary
Negotiable
Compensation & Other Benefits
Mobile bill, Tour allowance, Performance bonus, Provident fund
Lunch Facilities: Partially Subsidize
Salary Review: Yearly
Festival Bonus: 2
Application Deadline: 13 Sep 2021
For More Info and Apply Link :https://jobs.bdjobs.com/jobdetails.asp?id=982805&fcatId=9&ln=1
Job Source
Bdjobs.com Online Job Posting.
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ToguMogu: One Stop Solution for Bangladeshi Parents
When it comes to raising a child, worrying about parenting is inevitable. Should the newborn be tied to the chest with a cloth? What are the things to be aware of while breastfeeding? Which products are perfect for your baby? Doctors, older family members, friends, books, and the internet have a wide range of popular and modern advice about that stuff. Some advice may match with one another; sometimes, some parents may even get completely contradictory advice on the same subject. And, parents often have to be in a dilemma due to that confusion. Anika and Maruf, the founders of ToguMogu, had to face this kind of trouble when their first baby was born in 2016. To bring out the solution for new parents, they started ToguMogu.
What is ToguMogu?
ToguMogu.com is the first online platform in Bangladesh where you will get children's products as well as various parenting-related services.
It is mainly a service and product platform that offers a wide range of support for expecting, new, and young Bangladeshi parents who have children from 0-5 years old. The services include baby products, connecting with the doctors, capturing the memories with your baby, get education about parenting, counseling, and more. ToguMogu ensures healthier, happier mothers and kids. It works as a one-stop solution that brings all kinds of help and support for a new parent.
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How did it all start?
Anika Rahman and Maruf, one of the co-founders of ToguMogu, had their first child born in 2016; they realize the obstacles to raising a child and think about how to reduce the costs for all new parents in society. So, without delay, Anika started the online platform ToguMogu.com.
After graduating from East-West University, Anika Rahman Mou, the chairman of the organization worked for Asia Tech, a well-known company in the country, for some time, and after retiring from her job, she concentrated on her family. Besides, she established ToguMogu with the aim of doing something good for society.
Next year, they thought of providing a technology-enabled solution for young parents all over Bangladesh. Initially, they were looking for a name that would make people curious and make them smile at the same time. Hence, selected ToguMogu, which was derived from "Togu, a tiger cub, and Mogu, a human child."
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In the beginning, they spent enough time to understand the needs and the pain point of the new parent, their target customer. Additionally, they also conducted some research on how parenting works in Bangladesh and how to combine technology with parenting.
In the beginning, ToguMogu was a content platform that provided authentic information. Later they gradually introduced other services such as e-commerce shops, doctor booking, caregiving, and photography one by one. Now they have a fully functional app for the smartphone in which parents can track the growth of their children while accessing other features.
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ToguMogu Features and Services
With ToguMogu, parents will have a 5-year long journey starting from the pregnancy period. During this time, ToguMogu will be there as a constant wellbeing partner though offering different services to make the parenting journey easier. Currently, they offer five different services. Read on to know the list of the services.
ToguMogu E-Shop
The e-shop provides expert-recommended products for newborns and makes life easier for new parents. The products are available for babies up to 5-year-old. Then they have a wide range of products which include food and nutrition, children's books, baby products, brand toys, learning toys, crafts and drawing items, and school stationery. Parents can choose from a variety of options from numerous brands while searching for products on the e-shop. They also started selling corona safety products for children and adults.
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Baby Pixels by ToguMogu
It is special concept-based photography for the baby and pregnant moms to keep the memories. ToguMogu offers different services for photography which include, pregnancy sessions, newborn sessions, baby & toddlers, birthday and outdoor sessions. Pregnancy sessions photography starts from Tk. 5,990, while the newborn photography starts from Tk. 8,990. Other types of photography also have the more or less same price range as the former.
Education Contents
ToguMogu has numerous articles on various aspects of pregnancy, parenting, birth, and early childhood developments. Expecting parents and new parents can get self-education from those contents and make themselves ready for the upcoming days. Besides, Bangla books and e-books on parenting are also available.
Read: Dating changed during the pandemic; apps are following suit
Parenting Services
Under the parenting service, ToguMogu offers parent and children counseling through Lifespring, which is a "leading professional child psychology and mental wellbeing service provider in Bangladesh." Further, you will also get the consultation service from the child specialist via Doctorola, a healthcare service provider. If you need nanny service, you can contact Amar Astha Ltd. through ToguMogu. Furthermore, parents can take parenting courses, and a child's creative courses are also available to develop your children's creativity.
Day Care & Pre-School
Parents will find a recommendation on daycare and pre-school or after-school services available around Bangladesh. This service will provide a list of the best suitable daycare based on the requirements and the performances. So, daycare and pre-school recommendations will be a great help for working parents.
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Challenges ToguMogu Faced
All the co-founders have invested from their personal funds to set up the venture. So, ToguMogu has seen slow growth, which they are trying to cover up in recent days by seeking external investments.
Initially, they struggled with the deliveries in 2017-18 as they did not have a mature logistics service. Occasionally, co-founders had to work on deliveries initially. Since the co-founders left their job to create a trusted platform and they were new in the business world, they thrive to improve the service. So, they had to make a continuous investment from their own fund. And until 2020, they did not even think of raising the external fund. So, they have seen steady growth.
ToguMogu started pitching about their venture in 2020 and managed to raise an angel round of investment in late 2020. ToguMogu now aims to solve all kinds of problems of all parents, mothers, and children in the country through the platform.
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