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IFC, Global Partners ring the bell at Dhaka Stock Exchange to advance gender equality
To mark International Women’s Day, IFC partnered with the Dhaka Stock Exchange (DSE), UN Women, United Nations Global Compact and the Swiss State Secretariat for Economic Affairs (SECO, Swiss acronym) to Ring the Bell for Gender Equality, highlighting the private sector’s key role in boosting the economic participation of women.
The event in Dhaka took note of recent data indicating a decline in the number of women serving as independent directors on the boards of listed companies on the Dhaka Stock Exchange.
The percentage decreased from 6 percent in 2023 to 5 percent in 2024, emphasizing the continued relevance of an event like this.
State Minister for Finance Waseqa Ayesha Khan said that the government is committed to ensuring women are given equal opportunities.
“I would strongly encourage the regulators and private sector companies to ensure there is representation of at least one female independent director on the board of listed companies”, she said.
The Ring the Bell initiative is emblematic of IFC’s commitment to gender equality, along with key development partners.
Through its Environmental, Social, and Governance (ESG) project in Bangladesh supported by the Swiss State Secretariat for Economic Affairs (SECO) through the Embassy of Switzerland in Bangladesh, IFC aims to boost the representation of women in leadership positions beyond the current percentage of 15 percent.
Additionally, IFC leverages its relationships with clients to broaden financial access for female entrepreneurs.
“IFC strongly supports women as economic actors through projects focused on capital market development,” said Martin Holtmann, IFC Country Manager for Bangladesh, Bhutan and Nepal.
“We believe that having more women in leadership positions makes economic sense for companies and is also linked to better environmental, social, and corporate governance standards and practices. This is why IFC, as part of the World Bank Group, is partnering with the Dhaka Stock Exchange to help improve disclosure practices and support key stakeholders through this program”.
This year’s International Women’s Day theme of Investing in Women, Accelerating Progress is a clear call to action. Stock exchanges can help improve transparency and disclosure of gender-related data, promote access to finance, and encourage women to invest in public markets.
Exchanges can also help develop new products, such as sustainability-linked bonds with gender criteria, and adopt gender equality listing criteria.
Corinne Henchoz Pignani, Deputy Head of Cooperation, Embassy of Switzerland in Bangladesh, said, “Investing in women is not just the right thing to do but it is the smart thing to do since it facilitates an increased representation of women in leadership roles, greater gender diversity and equity within the workforce, more products and services that cater to the distinct needs of women, which will eventually result in improving the lives of women and girls.”
The Ring the Bell for Gender Equality Initiative – a global partnership that includes IFC, United Nations Global Compact, UN SSE, UN Women, and The World Federation of Exchanges – advocates for the full and equal participation of all people to achieve the Sustainable Development Goals and create a world free of poverty on a livable planet.
FBCCI demands end to extortion on streets to control price, supply during Ramadan
The Federation of Bangladesh Chamber of Commerce and Industry (FBCCI) on Sunday demanded an end to extortion on the streets to control the supply and price of products during Ramadan.
This demand came from the 1st meeting of the FBCCI Standing Committee on Raw Material, Wholesalers, and Suppliers, held at the FBCCI Building in Motijheel.
The federation leaders said the retailers and wholesalers (Arothder) of this sector should be proactive in ensuring that the prices of essential kachamal/ Kacha vegetables including pepper, potato, cucumber, and brinjal remain normal during Ramadan and no dishonest person can create an artificial crisis.
At the same time, the businessmen have demanded to stop extortion on the roads to control the supply and price of products.
FBCCI President Mahbubul Alam attended the meeting virtually. He urged the businessmen of this sector to play a more active role so that no one could create an artificial crisis by jeopardising the common people.
The FBCCI president called upon the business leaders of this sector to maintain the smooth supply of products.
Senior Vice President of FBCCI Md Amin Helali said, about 2.20 lakh metric tons of vegetables are produced in the country every year. About 50 percent of which is wasted due to lack of proper storage systems.
Accurate statistics and conservation measures are essential for the development of this situation, he said.
Besides, he demanded the authorities to take necessary measures to stop extortion on the roads to control the supply and price of products.
FBCCI’s directors, and business leaders of different sectors participated in the meeting.
Standard Chartered unveils special deals, offers Ramadan-Eid to promote cashless experience
Standard Chartered Bangladesh has unveiled special offers for customers on the occasion of the holy month of Ramadan and Eid-ul-Fitr.
The multinational bank has set partnerships with vendors of different sectors to provide exclusive offers to clients and customers across the country.
This initiative has been taken to add a different dimension to the festival of the customers in view of Ramadan and Eid and to give an experience of cashless purchase, according to a press release.
All debit and credit card users of the bank can enjoy this service. Under this offer, customers will get special discounts on Iftar, dinner, and Sehri through card and online payment. Customers of Standard Chartered Bang will get this offer at domestic and foreign hotels and restaurants.
This special discount offer will run throughout the month of Ramadan.
Customers will also be able to get up to 50 percent off when shopping for lifestyle goods and up to 30 percent off when making beauty and personal care purchases.
These fantastic discounts on clothing, accessories, jewellery, and self-care products will enable customers to get ready for celebrations with family and friends. Offers on gadgets, home appliances, furniture, and other electronics will equip individuals to indulge in home improvements and upgrades.
Offers are also available with online/e-commerce partners to make shopping from the comfort of home.
Workshop on cross-border e-commerce unveils global export opportunities for local entrepreneurs through Alibaba platform
A workshop titled ‘Trading Beyond Border’ was held at Krishibid Institution Bangladesh (KIB) in Dhaka on Sunday, aiming to foster global outreach for local manufacturers and entrepreneurs through the Alibaba platform. The event, orchestrated by Alibaba’s Bangladesh channel partner SkyTech Solutions in collaboration with the e-Commerce Association of Bangladesh (e-CAB), drew participation from approximately 250 e-commerce manufacturers and entrepreneurs.
The workshop commenced with a welcome address by Saidur Rahman, Director of the e-Commerce Association of Bangladesh (e-CAB), highlighting the potential for domestic e-commerce entrepreneurs to earn remittances by exporting products internationally. Rahman also touched upon the importance of cross-border e-commerce policy.
Kamrul Hasan, Head of Digital Marketing at SkyTech, delved into strategies for transitioning from local to global business, contrasting the local and international markets, outlining export procedures, and emphasizing the necessity for marketing, logistics, and company registration.
Hasan also shared inspirational success stories of entrepreneurs who have ventured into global markets through platforms like Alibaba, eBay, and Amazon, followed by a Q&A session addressing the entrepreneurs' queries.
Faisal Dolan's session illuminated the process of launching a business on Alibaba, covering membership benefits, account and store setup, storefront creation, product uploads, store management, buyer acquisition, and order fulfillment.
Nasri Ma, Alibaba’s Business Manager for Bangladesh, presented the keynote speech, shedding light on the expansive business opportunities available through Alibaba's Business-to-Business (B2B) platform and its sister concerns, including Taobao and Alipay.
Concluding the workshop, Musnad Ahmed, CEO of SkyTech Solutions, assured comprehensive support for businesses aspiring to leverage Alibaba, including account opening, company registration, and store management. He announced forthcoming workshops and personalized sessions for participants eager to navigate Alibaba's export opportunities.
Demand for Walton TVs constantly going up in European market
Demands for 'Made in Bangladesh' tagged televisions, manufactured by the country's super television brand 'Walton', is constantly going up in the European market. Thus, the exports of Walton made TVs has been increasing in more than 14 European countries.
In continuation of this, Walton has exported TV to the market of Ireland, a country in the northwest of Europe, for the seventh time, according to a media statement.
Saeed Al Imran, vice-president of Walton's global business unit and also in-charge of the European market, said that Walton started TV export operations in Ireland in 2019 under the OEM (Original Equipment Manufacturer) method.
TexTIMe explores how innovation in denim takes to pinnacle
Walton made TV's European standards and design, high picture quality, advanced features, durability and timely marketing strategy drew the attention of the Irish people in a very short time, noting it he added, thus the demands for Walton TVs is increasing in the Ireland market day by day.
As a result, he said, this month Walton has completed the shipment of TV exports to Ireland for the seventh time through a repeat order.
Engineer Mostafa Nahid Hossain, chief business officer of Walton TV, said, "We started TV exports to the European market in 2019. Walton TV is winning the hearts of buyers in the European market in a very short time. At present, about 95 percent of Walton TV's export revenue comes from the European market."
CIS-BCCI holds its annual general meeting
Despite the adverse global trade condition following the effects of Corona epidemic, instability in the European market centering the Russia-Ukraine war, Walton has exported more than 100,000 units of TVs to the European market, he noted adding that about US$10 million came to the reserve of Bangladesh.
He said, "Walton is now the country's top TV exporter. Our goal is to make Bangladesh's image brighter in the global arena by exporting 'Made in Bangladesh' tag television in every corner of the world. To achieve that goal, we are moving forward with the mission of reaching the list of the top 5 television manufacturers in the world.
According to the Walton Global Business Unit, Walton is exporting 'Made in Bangladesh' tag TVs to more than 35 countries through hundreds of business partners.
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Out of the total export earnings of Walton TVs, 34 percent came from Denmark, 18 percent from Germany, 22 percent from Greece, 15 percent from Croatia and Ireland, six percent from Poland and five percent came from Africa and other countries.
89 percent turnout at BGMEA election, counting in progress
The vote counting is underway after 89 percent of the electorate cast their votes in the election of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) for the term of 2024-26.
Earlier, the polling took place at the BGMEA Building in Uttara peacefully from 10 am to 5 pm on Saturday.
After ending the polling, Election Management Board’s Chairman Jahangir Alamin told reporters that 89 percent of votes were cast in this year's election, which was held in a free and fair environment. There were no major complaints.
Around 2226 out of a total of 2496 voters voted in this election, which is more than 89 percent.
Among them, 1839 people or above 90 percent (90.50 percent) voted out of 2032 voters in Dhaka. In Chattogram, out of 464 voters, 387 voted, which is about 83.40 percent.
In this election, 70 candidates are fighting against 35 director posts in Dhaka and Chattagram. Two panels the Forum and the Combined Council (Sammilito Parishad) are contesting the election of the BGMEA Board of Directors.
SM Mannan Kochi, of Seha Designs chairman, led the Sammilito Parishad, who is the current senior vice-president of BGMEA. Another panel forum is led by Faisal Samad, director of Surma Garments. He is also the current director of the committee; besides he has once served as vice-president.
Two new deputy governors pay homage to Bangabandhu at Tungipara
Newly appointed two deputy governors of Bangladesh Bank (BB) Khurshid Alam and Dr Md. Habibur Rahman paid homage to Father of the Nation Bangabandhu Sheikh Mujibur Rahman at Tungipara in Gopalganj on Friday.
They placed a wreath at the mausoleum of Father of the Nation.
They also offered Fateha and prayed for eternal peace for the departed souls of Bangabandhu Sheikh Mujibur Rahman and other martyrs of the August 15, 1975 carnage and during the liberation war
TexTIMe explores how innovation in denim takes to pinnacle
Speakers in a discussion meeting said on Thursday that with a consistent effort on quality improvement and value addition, adoption of updated denim technologies, and commitment towards a safe and sustainable industry, Bangladesh has become the world's number one denim supplier.
They said this at a discussion meeting on ‘Innovation in Denim’ as a part of its TexTIMe Episode-25, organised by Textile Today Innovation Hub (TTIH), held at the International Convention City Bashundhara, Dhaka.
The programme was held in the sideline of the 6th Dhaka International Denim Show 2024 and the 21st Dhaka International Yarn & Fabric Show 2024, said a press release.
TexTIMe (Textile Today Innovation Meets) is a regular event of Textile Today Innovation Hub – engaging industry leaders and policymakers to find out the pathways to tackle critical challenges and future prospects to sustain and grow.
The discussion, moderated by Tareq Amin, Founder & CEO of TTIH, brought together leading figures from the denim industry in Bangladesh, like - Shovon Islam, Managing Director of Sparrow Group; Rafee Mahmood, Chairman of Mahmud Group; Usman Maqsood, Director of Experience Group; Ferdaush Imtiaz, General Manager (Fabrics) of Poeticgem International ltd. and Md. Meherul Islam (Sohel), DGM (Fabric Tech & Sourcing) of Hirdaramani Bangladesh.
Experts opined that innovation in the denim sector is happening in making different products encompassing fabrics, garments, threads, machinery, finishing equipment, and accessories.
To lead the way in denim innovation, the panel explored some critical issues facing the denim industry, with a particular focus on sustainability.
The discussion also delved into strategies for increasing the value of denim products, ensuring smart negotiation skills, catering to evolving market demands, having policy support from the government, etc.
No possibility to increase sugar price: State Minister for Commerce
State Minister for Commerce Ahasanul Islam Titu said on Thursday that there is no possibility of short supply of sugar or price hike in the market due to fire in S Alam’s sugar mill or any other reason.
“I tell the businessmen, they should not try to exploit the crisis,” he said.
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His remark came during the opening ceremony of the second phase of a sales campaign by the Trading Corporation of Bangladesh (TCB) on Thursday (March 7). The programme was held at ward no 24 of Dhaka North City Corporation.
The TCB is selling five products including dates at subsidised rate for 1 crore family card holders across the country.
“I see in the news that there is an attempt to increase the price of sugar in one or two places, none of the traders should do so, because the price of sugar will not increase even in mill gate.”
The concerned sugar mill owners of the country have promised this to the Ministry of Commerce, he said.
Take steps against commodity price hike, hoarding during Ramadan: PMO
He also pointed out that the government never wants to destroy the orderly environment of the supply chain and market with police and law enforcers.
“If the market has normal momentum, and it runs smoothly, I believe products will be available at a fair price. We are trying that. But if not, we will take all kinds of strict measures,” he warned.
CIS-BCCI holds its annual general meeting
The 10th annual general meeting (AGM) of the Commonwealth of Independent States-Bangladesh Chamber of Commerce and Industry (CIS-BCCI) was held on Tuesday at Dhaka Club in the city.
During the AGM, CIS-BCCI President Mohammad Ali Deen presented the annual report of 2023 and explained the future plan of the chamber along with past activities.
Rashadul Hossain Chowdhury, Senior Vice President of the chamber, presented the financial report of the chamber for the year 2023.
The general members along with the board of directors and advisers were present in the meeting and actively participated in the discussion on the annual report and audited financial report and approved it unanimously.
The Meeting ended with a vote of thanks from the Vice President of the Chamber Jadab Debnath.
The CIS-BCCI, a registered trade body under T.O Rules of Ministry of Commerce, is working to promote bilateral trade relation between Bangladesh and CIS countries including Russia.
CIS-BCCI regularly interacts with the related agencies of the government and with respective diplomatic missions to explore CIS market including Russia as the third front of our export destination after the USA and the EU, said a press release.