Business
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.
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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.
Inflation rate fell slightly to 9.67 percent in February: BBS
The rate of inflation in Bangladesh fell slightly to 9.67 percent in February compared to 9.86 percent in January, but the overall inflation was over 9 percent during the last 12 consecutive months.
According to the Bangladesh Bureau of Statistics (BBS), the food inflation rate stood at 9.44 percent in February, while non-food inflation was 9.33 percent. In January, food inflation was 9.56 percent and the non-food inflation rate was 9.42 percent.
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The food inflation had soared to 12.54 percent in August last year, before finally dipping back to 10.76 percent in November.
Domestic industries facing tough challenges for high inflation and interest rates: BCI
Meanwhile, the wage growth rate in February marginally rose to 7.78 percent, however, it has been lagging behind inflation for the past 25 months.
Govt measures to tame inflation soon: PM tells Parliament
EDOTCO, Huawei, sign MoU to deploy first fiberglass tower
EDOTCO Bangladesh and Huawei Technologies (Bangladesh) Limited signed an MoU to introduce advanced eco-friendly telecommunications tower made of Fiberglass Reinforced Plastics (FRP).
The MoU signing was held at the world’s most coveted event, Mobile World Congress in Barcelona last week, according to a press release on Wednesday.
Through this collaboration, EDOTCO Bangladesh will become the first TowerCo in the country to offer the fiberglass tower solutions to the Mobile Network Operators. As a technology partner Huawei will provide expertise to complete the FRP tower jointly EDOTCO team, it said.
The innovative FRP solutions will reduce up to 44% tower weight and increase construction efficiency up to 75%, which are ideal for rooftop sites in the density areas of the country. These towers are engineered not to reflect radio waves, ensuring efficient microwave transmission, while their durability allows them to withstand high voltage without damage.
Additionally, they are easy to install and transport, contributing to a more efficient construction process. Its environment friendly features ensure low CO2 emissions and lessen the need for frequent painting. These unique telecom infrastructures are poised to drive innovation in Bangladesh's evolving tower industry landscape, said the release.
Sunil Issac, Country Managing Director of EDOTCO Bangladesh, expressed his enthusiasm for the partnership, stating, “Our collaboration represents a remarkable opportunity to enhance Bangladesh's thriving telecom infrastructure and play an instrumental role in realizing our sustainability vision. We are dedicated to shape the future of this industry and continue to enable connected Bangladesh with advanced sustainable practices in line with SDGs. We are optimistic that this partnership with Huawei will encourage others to come forward and collectively contribute more to the country’s industry growth."
Huyue, Vice President, Carrier Network Business Group, Huawei South Asia said, “The collaboration between EDOTCO and Huawei signifies our collective commitment as global innovators to be a major contributor towards Bangladesh monumental growth. This partnership enhances site facility availability and is set to bring positive change in the tower infrastructure industry. With Huawei's pioneering solutions and EDOTCO's expertise, we are committed to set an example in our journey towards sustainability through innovation.”
EDOTCO Bangladesh, a subsidiary of Malaysia-based EDOTCO Group, the sixth-largest telecom tower infrastructure company in the world, has consistently demonstrated its commitment to sustainable infrastructure.
The company’s dedication to sustainable practices is evident in its innovative and eco-friendly solutions, such as the Bamboo Tower, Hybrid Solar-Wind Tower, Spun Prestressed Concrete Towers, and Smart Pole Street Furniture. EDOTCO is a leading private sector in the country that has consistently worked towards achieving the SDGs through various initiatives and is committed to transparently sharing its progress in the sustainability journey.
OPPO Air Glass 3 unveiled at MWC 2024
Marking a significant breakthrough in XR, OPPO Air Glass 3 can access OPPO's AndesGPT model via a smartphone app for generative AI capabilities.
Dhaka, Mar 6 (UNB) - Leading global technology company OPPO unveiled a prototype for its new generation of assisted reality glasses, OPPO Air Glass 3, at MWC 2024. OPPO Air Glass 3 can access OPPO's AndesGPT model via a smartphone, providing a new burdenless AI experience.
Ahead of the event, OPPO also announced the establishment of the OPPO AI Center and released the OPPO AI Smartphone White Paper, marking a new era in which Smartphones transition to AI Smartphones, according to a press release on Wednesday.
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At this year's MWC, OPPO has collaborated with Qualcomm Technologies, Inc. and startup AlpsenTek to introduce a new AI Motion algorithm based on Hybrid Vision Sensing (HVS) technology, bringing added clarity to photography and videography of high-speed moving objects.
Further to this, OPPO is showcasing a range of products with partners, including Google, Qualcomm Technologies, and MediaTek, and has announced that OPPO smartphone users will soon be able to connect their phones to Microsoft Copilot. reflecting OPPO's commitment to exploring enhanced technological experiences in collaboration with partners across the industry, said the release.
AI experiences with the world’s lightest binocular aR glasses
Thanks to its ability to understand various data types, including text, images, video, and audio, multimodal AI technology is able to process and interpret more complex user scenarios, unlocking new potential in user interactions, such as voice and visual. While XR (extended reality) devices present new possibilities in implementing these features, they require both advanced functionality and lightweight designs if they are to truly take on the role of a personal, everyday smart assistant.
Driven by this vision, OPPO has introduced the all-new OPPO Air Glass 3 prototype to explore the possibilities of AI technology based on cross-device collaboration between XR devices and smartphones.
Weighing just 50 grams, the OPPO Air Glass 3 features a self-developed resin waveguide with a refractive index of 1.70, a display brightness uniformity of more than 50%, and a peak eye brightness of more than 1,000 nits. Together, these ensure the OPPO Air Glass 3 provides a wearing experience that is close to that of a regular pair of glasses while also providing the best full-color display of its kind. Thanks to the access to OPPO AndesGPT provided by the Air Glass APP on the smartphone, users only need to lightly press the temple of the OPPO Air Glass 3 to activate the AI voice assistant and begin performing a range of tasks.
The OPPO Air Glass 3 also supports touch interaction, which can be used to easily control functions such as music playback, voice calls, information display, color image browsing, and more. The glasses also feature reverse sound field technology, an open acoustic design with four microphones, and other innovations that improve noise isolation to deliver high audio quality and enhanced privacy protection.
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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.
Tahsan made ORAIMO’s new brand ambassador
Renowned musician and actor Tahsan Rahman Khan has joined hands with ORAIMO Bangladesh.
This popular star has become the brand ambassador of ORAIMO, a smart accessories company catering the needs of the youth worldwide.
This was announced at a function organized for dealers at Radisson Blu Water Garden Hotel in the capital on Tuesday night.
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At that time, apart from ORAIMO’s Brand Ambassador Tahsan Khan, ORAIMO’s Global Brand Director Zoey Zeng Yi; Overseas Sales Director Justin Ye; Country Manager Tanbir Hossain Mazumder and other senior officials of ORAIMO were present.
In the future, consumer electronics of ORAIMO available in Bangladesh – such as TWS, smart watch, headphones, trimmer & charger – will feature Tahsan Khan. This popular star was showered with good wishes and love from fans for this new journey. Oraimo started its journey in Bangladesh in 2018.
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ORAIMO Country Manager Tanbir Majumder said, “We are very happy that popular musician Tahsan Khan and ORAIMO will work together in future. A talented artiste like Tahsan Khan has countless fans and viewers. We hope that ORAIMO will get an uplift through those fans among the youth. ORAIMO’s journey with him will be a memorable one.”
CEMS Global, CCPIT-TEX China’s exhibitions on yarn, fabric kicks off in Dhaka
CEMS-Global USA and CCPIT-TEX China’s international exhibitions on Yarn and Fabric kicked off at the International Convention City Bashundhara (ICCB), Dhaka on Wednesday.
The exhibitions will run till March 9 providing global manufacturers of yarn, fabric, trims and sccessories with a unique platform to showcase the latest advancements, new opportunities and to forge meaningful partnerships in Bangladesh.
The 21st Dhaka International Yarn & Fabric Show 2024 (Winter Edition), organized by CEMS-Global USA and CCPIT-TEX China will serve as a testament to the remarkable progress and growth of the textile industry in Bangladesh and beyond, said the organizers.
This flagship event, they said, promises to be a premier platform for global textile manufacturers, stakeholders, and suppliers.
Renowned as one of the most comprehensive textile exhibitions in Bangladesh, the winter edition of the Dhaka International Yarn and Fabric Show is set to showcase the latest innovations, trends, and technologies in the textile sector.
The 21st edition of the event features a diverse array of exhibitors, including yarn, fabric, trims, and accessory manufacturers, suppliers, exporters, and industry experts, providing visitors with unparalleled opportunities for networking along with business expansion, forging cross-border deals and partnerships.
Exhibitors are presenting their cutting-edge products, materials and services across various segments such as cotton, polyester, viscose, spandex, nylon, and blended yarns, as well as a wide range of fabrics including denim, knitted, woven, printed, and dyed fabrics.
Moreover, the 21st Dhaka International Yarn and Fabric Show 2024 (Winter Edition) and 6th Denim Bangladesh 2024 International Expo will serve as a vital platform for fostering collaboration, business development, and partnerships within the global textile ecosystem, facilitating interactions between key stakeholders and decision-makers to drive industry growth and innovation.
Lokman Hossain Miah, Executive Chairman, Bangladesh Investment Development Authority, was present as the chief guest at the opening ceremony of exhibitions.
Meherun N. Islam, President and Group Managing Director, CEMS Global USA and Asia Pacific and Zhang Tao, Vice President and Secretary General, The Sub- Council of Textile Industry, CCPIT presided over the opening ceremony.
Faruque Hassan, President of Bangladesh Garment Manufacturers and Exporters Association (BGMEA); Md. Amin Helaly, Senior Vice President of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI); Md. Nuruzzaman, Director General (Additional Secretary) of Department of Textiles – Ministry of Textiles and Jute; Mahbubur Rahman, Director General of the Export Promotion Bureau of Bangladesh; Akhter Hossain Apurba, Vice President of the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA); and Song Yang, Commercial Counsellor of the Embassy of the People’s Republic of China in Bangladesh were also present.
These exhibitions showcase the latest technologies, and foster trade relationships, the 21st Dhaka International Yarn & Fabric Show 2024 (Winter Edition) promises to be a pivotal event that redefines the textile and garment industry's trajectory in Bangladesh and beyond.
More than 410 companies from 15 countries with more than 550 booths are taking part in this international exhibition to showcase their new designs, newest trends, and innovative technological breakthroughs in textiles for the benefit of Bangladesh's entire RMG industry.
These exhibitions will be open for the visitors only upon registration every day from 10.00 am to 7.00 pm.
Some Interesting Facts About the Ambani Family
The Ambani family is now the talk of the world with the dazzling and star-studded presence in Anant Ambani’s pre-wedding celebrations. From Bill Gates, Mark Zuckerberg to Rihanna’s concert – the spectacles at Jamnagar were one for the ages.
One might think, what is the limit for Asia’s richest man? There are several interesting facts behind the meteoric rise of Mukesh Ambani and the conglomerate Reliance is today. And the story doesn’t even start in India.
Few Lesser Known Facts About the Ambani Family
Born in a Foreign Land
Dhirubhai Ambani was working in Aden (present-day Yemen) where Mukesh was born in 1957. Dhirubhai with his family decided to move back to India in 1958 to start his own business, seeding the foundation of Reliance.
Read more: Indian billionaire Mukesh Ambani 'setting up family office in Singapore'
A Match Made in Bharatanatyam
Contrary to popular belief, Mukesh and Nita Ambani didn’t cross paths first. Instead, it was Dhirubhai and Kokilaben who first noticed Nita during a Bharatanatyam performance. Dhirubhai later approached Nita’s father Ravindrabhai Dalal for her hand in marriage to his son.
Birthday Unlike Any Other
It is rumored that Mukesh Ambani doesn’t like to celebrate his birthdays. But when it comes to family and the love of his life, there is no one quite like him. On the 44th birthday of Nita Ambani, Mukesh reportedly gifted her an Airbus (A319) luxury private jet estimated to be worth around 240 Crore INR.
Welcoming the First Daughter-in-Law
The razzle-dazzle of a wedding in Ambani house is nothing new. Ambanis welcomed their first daughter-in-law Shloka Mehta in 2019 as Akash and Shloka tied the knot in a big fat Indian wedding. It was reported that Nita Ambani gifted the ‘Mouawad L'Incomparable’ to Shloka, the 91-diamond studded necklace estimated at 451 Crore INR.
Read more: India's Mukesh Ambani kickstarts dynastic succession
A House Fit for the Ambani
Mukesh Ambani with his wife and two sons live in the luxurious Antilla, the 27-storied fabled home in Mumbai. The 4.6 billion USD building is the most expensive private residence in the world, a fitting abode for Asia’s richest family.
Family at the Heart of Everything
The Ambanis are tied by a strong sense of familial obligations. Mukesh Ambani often stated how important it is for him to spend at least a day in the week with his mother, wife, and children. The bond of family is further extrapolated by the fact that there’s at least a photo of the family or Dhirubhai Ambani in each room of Antilla.
5 Rupees Pocket Money
In an interview with iDiva, Nita Ambani revealed that she used to give Akash, Isha, and Anant only 5 rupees as pocket money for an entire week. Nita reflected that it was her way of teaching the children to value money and stay grounded no matter what. Nita draws inspiration from her middle-class background and wants to instill the same in the heirs.
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Nita Ambani’s Philanthropy
Nita Ambani has been spearheading Reliance’s philanthropic activities through the Reliance Foundation. She even resigned from the board of Reliance Industries in 2003 to focus more on philanthropic projects. Under her guidance, Reliance Foundation completed the Jamnagar Township Project and Dhirubhai Ambani International School.
Humble in Gastronomy
People are often surprised by the fact that Mukesh Ambani is a vegetarian. Even before heading the Reliance Industries, Mukesh was known for his humble and modest lifestyle and behavior. It’s a trait that has carried on to the Ambani heirs as well. In addition to being a vegetarian, Mukesh is often spotted dining with his family at traditional and less pretentious restaurants.
The Ties of Friendship
The value of trust and fellowship goes beyond the family for Mukesh. Mukesh’s two close friends from college days, Anand Jain and Manoj Modi became key instruments in Reliance’s growth. Today both Jain and Modi closely work with the third generation of the Ambanis to get them started in the business.
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The Sports Connection
Ambanis aren’t all about industries and philanthropies. The family has been a strong patron of sports, especially Nita Ambani. The IPL franchise Mumbai Indians is owned by Nita. Reliance Group also holds the ownership of the Indian Super League. For her patronage of sports, Nita Ambani received the Rashtriya Khel Protsahan Award in 2017.
Ivy-League Education
As the heir to the Reliance empire, the three children Akash, Isha, and Anant were expected to lead by example. And they did so splendidly. The three siblings had their early education in Dhirubhai Ambani International School. Akash and Anant both completed their bachelor’s from Brown University. Isha pursued a bachelor's in psychology at Yale University and later completed her MBA from Stanford.
Z+ Security
Being the richest man in India comes with its set of perils. In 2013, Mukesh Ambani got death threats which prompted the government to issue Z+ security for him and his family members.
Read more: India's biggest sibling rivalry between Ambani brothers to end soon?
Vantara: Protecting the Wildlife
Anant Ambani is noted for being an animal lover. His concern for wildlife and nature is seen all around. Recently, the youngest of the Ambanis has taken up the ambitious project of Vantara, a 3000-acre wildlife sanctuary at Jamnagar. Vantara is expected to be equipped with state-of-the-art facilities to take care of the animals and promote thriving flora and fauna in the region.
The Life of Dhirubhai in a Movie
The 2007 Mani Ratnam-directed film Guru is said to be loosely based on the life of Dhirubhai Ambani. The movie tells the beautiful tale of how a man from a village can go on to create the largest conglomerate in India by his sheer will and determination to never give up.
Final Words
Being the richest family in Asia, the Ambanis never dissociated themselves from the masses. Their philanthropic activities and large-scale industrial operations have made them a key driver in India’s economic growth. As the third generation of the Ambanis walks the precedence set by their father and grandfather, it is safe to assume that Reliance will not lose its vision.
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