Business Brillianz

13/06/2024

ACI Marine & Riverine Technologies Ltd, part of ACI Ltd, has signed an agreement with Khulna Shipyard Ltd to supply Mitsubishi Marine Engines.

The ceremony took place at Khulna Shipyard's office, where the shipyard will receive two Mitsubishi Marine Engines and two Marine Gearboxes for a survey vessel of the Payra Port Authority.

This partnership aims to boost Khulna Shipyard's capabilities and its standing in the Bangladeshi maritime market. Key figures at the signing included Subrata Ranjan Das from ACI Motors Ltd., and Md Abdul Latif from Khulna Shipyard, along with other senior officials.

13/06/2024

Apple has become the first brand to cross US$1 trillion (S$1.35 trillion) in brand value, a 15 per cent jump from 2023, while chipmaker Nvidia’s value has nearly tripled, a global ranking by Kantar’s BrandZ showed on June 12.

The iPhone maker retained its crown as the world’s most valuable brand for the third straight year in 2024, followed by Alphabet’s Google at US$753 billion and Microsoft at US$713 billion, Kantar said.

11/06/2024

Eastern Bank PLC. (EBL) has launched co-brand credit cards for members and staff of the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA). The launch event took place at EBL's head office in Gulshan, attended by key executives from both EBL and BKMEA.

The co-branded credit cards, available in Visa Platinum and Visa Signature variants, aim to offer an excellent banking experience tailored to the needs of BKMEA members and staff.

Benefits include complimentary access to EBL Skylounge at Dhaka and Chattogram airports, zero issuance fees, Priority Pass access to over 1,100 international airport lounges, and discounts at various merchants worldwide. Cardholders also receive two free supplementary cards.

10/06/2024

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এই ডিজিটাল বিজনেস মার্কেটিং ফেস্টে পার্টনারশিপ আহবান করছি।
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স্পন্সরশিপের বিস্তারিত জানতে এবং আগ্রহ প্রকাশ করতে এই লিংকে যানঃ https://shorturl.at/f7R0a
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10/06/2024

Bangladesh's Refrigerator Market Thrives with Local Production

Two decades ago, refrigerators were a luxury in rural Bangladesh, but today they are commonplace thanks to widespread electricity, increased purchasing power, and affordable local manufacturing. Local companies now dominate over 95% of the market, supported by government policies, with an annual market value exceeding Tk12,000 crore and steady growth of 10%.

Walton, the pioneer in domestic production since 2008, leads with over half the market share. Other local brands like Minister, Vision, and Jamuna are also thriving. Foreign brands such as Singer and Samsung have established local factories, benefiting from tax incentives.

Rural demand has surged, with 55% of households owning refrigerators, spurred by electrification and economic improvements. Sales peak during Eid festivals, with significant increases anticipated.

09/06/2024

Sharif Zahir has recently been elected as the chairman of National Finance at the company's 207th board meeting.

06/06/2024

One of the prominent airlines, SpiceJet, plans to raise more funds. On June 5, 2024, SpiceJet Chief Ajay Singh announced that the airline plans to raise approximately USD 250 million in the coming months to enhance its operations.

06/06/2024

Cisco’s venture capital arm has launched a $1 billion AI fund to invest in “secure, reliable and trustworthy AI solutions.”

06/06/2024

Monzurur Rahman re-elected chairman of Pubali Bank.

Rahman

06/06/2024

Billionaire investor Ron Baron, longtime Tesla bull and shareholder, wrote an open letter in support of CEO Elon Musk's controversial $56 billion pay package.

Source: https://t.ly/UO-4V

Business Brillianz is Delivering Cutting-Edge Updates, Strategies, and Expert Advice for Businesses.

05/06/2024

"Long-term extension needed for policy support in electronics sector" - Nurul Afsar, DMD, Electro Mart.

Source: https://t.ly/OHW8p

Business Brillianz is Delivering Cutting-Edge Updates, Strategies, and Expert Advice for Businesses.

05/06/2024

The Board of Directors of Prime Bank has unanimously re-elected Tanjil Chowdhury as Chairman for the third consecutive term (2024-26).

Business Brillianz is Delivering Cutting-Edge Updates, Strategies, and Expert Advice for Businesses.

05/06/2024

Standard Chartered Bangladesh has appointed Lutful Habib as Managing Director and Head of Wealth and Retail Banking.

Business Brillianz is Delivering Cutting-Edge Updates, Strategies, and Expert Advice for Businesses.

04/06/2024

“Focus on tax justice to foster a fair business environment“ - Sheikh Bashir Uddin, MD, AkijBashir Group

Business Brillianz is Delivering Cutting-Edge Updates, Strategies, and Expert Advice for Businesses.

04/06/2024

Microsoft announced on Monday, June 3, 2024, its commitment to invest 33.7 billion kronor ($3.2 billion) over the span of two years in bolstering cloud and artificial intelligence infrastructure in Sweden, marking its largest financial pledge in the country to date.

04/06/2024

Singapore's Temasek and US financial service major Fidelity invest $200 million in Lenskart through a secondary share sale, valuing the company at $5 billion.

Business Brillianz is Delivering Cutting-Edge Updates, Strategies, and Expert Advice for Businesses.

03/06/2024

Syed Mansur Mustafa has been appointed as the new Managing Director of IFIC Bank PLC.

Business Brillianz is Delivering Cutting-Edge Updates, Strategies, and Expert Advice for Businesses.

02/06/2024

AkijBashir Group is set to soon offer different types of high-end glass used in construction, seeking to grab a share of rising sales amounting to around Tk 2,600 crore annually.

Source: https://t.ly/OPBh4

Business Brillianz is Delivering Cutting-Edge Updates, Strategies, and Expert Advice for Businesses.

02/06/2024

TK Group, a major player in the country's consumer goods and industrial sectors, has initiated massive investments with the goal of transporting its own edible oil imports by using its own vessels.

Source: https://t.ly/QmI3F

Business Brillianz is Delivering Cutting-Edge Updates, Strategies, and Expert Advice for Businesses.

30/05/2024

Google will invest $2 billion in building the company's first data centre in Malaysia, according to an official statement by the Malaysian government.

30/05/2024

Bangladesh's veterinary medicine industry has boomed in recent years, driven by the growth of the poultry and dairy sectors.

Here's a breakdown:

Past (around 2000): Limited demand for veterinary medicine, with just one major player (Renata) selling imported medicines.

Present (today):
1. Market value of Tk4,000 crore annually.
2. Over 35 companies manufacture and distribute veterinary medicines, fulfilling 75% of the demand locally.
3. Hundreds of factories produce additional veterinary products like vitamins.
4. Millions of jobs created directly and indirectly.

Reason for growth: The rise of poultry and dairy farms significantly increased the need for veterinary medicine.

This trend is expected to continue as the demand for animal products grows.

30/05/2024

Humayun Rashid, Managing Director and CEO of Energypac Power Generation, was recently elected as president of the Bangladesh Philippines Chamber of Commerce and Industry (BPCCI) for a two-year term (2024-26).

30/05/2024

Shanta Asset Management has announced the appointment of Kazi Monirul Islam as the new Chief Executive Officer, effective immediately.

29/05/2024

Linde Bangladesh Limited is going to sell its major revenue-generating segment, the welding electrodes business, to the American-Swedish industrial company ESAB Group.

Full News: https://t.ly/BOJP2

The multinational industrial and medical gas manufacturer made the disclosure through the Dhaka Stock Exchange (DSE) today (28 May).

Source: The Business Standard

29/05/2024

Elon Musk’s xAI raised $6 billion in a funding round, the artificial intelligence startup announced late Sunday, boosting its billionaire owner’s ambitions to take on ChatGPT creator OpenAI and other companies like Google and Anthropic.

Read here: https://t.ly/tn1xy

Business Brillianz is Delivering Cutting-Edge Updates, Strategies, and Expert Advice for Businesses.

29/05/2024

Bank Asia PLC. has been honoured with the "Best Climate Focused Bank in Bangladesh" award at the 24th National Renewable Energy Conference and Green Expo for its outstanding sustainability rating by the Bangladesh Bank in 2020 and 2021.

29/05/2024

United Commercial Bank PLC (UCB) will invest Tk50 crore as the sponsor of a new closed-end mutual fund, to be managed by Capitec Asset Management.

This decision, approved by UCB's board, was disclosed on Tuesday. The growth fund, targeting a total size of Tk150 crore, aims to invest in high-growth potential companies, attracting investors focused on capital gains.

28/05/2024

Billionaire Enrique Razon Jr is expanding his investment in Manila Water, purchasing an additional 14.5 billion pesos ($252 million) worth of shares from Ayala Corp.

Using his investment vehicle, Trident Water, Razon acquired a 23.6% stake in Manila Water common shares for 12.9 billion pesos and will buy 1.6 billion pesos in preference shares over five years.

Trident will hold an 82% stake in Manila Water after this acquisition. Ayala Corp will no longer hold common shares and its economic stake will drop to zero by 2029. This divestment aligns with Ayala's strategy to raise 50 billion pesos through portfolio rationalization.

Business Brillianz is Delivering Cutting-Edge Updates, Strategies, and Expert Advice for Businesses.

28/05/2024

Rahim Textile Mills PLC, part of New Asia Group, plans to expand its capacity and increase annual revenue by 24%.

The expansion involves installing new dyeing machinery and accessories at its existing factory, with an investment of Tk13.73 crore funded through internal generation and loans.

After incurring a Tk12.47 crore loss in FY 2022-23 due to high raw material prices and utility costs, the company returned to profit in the current fiscal year, reporting Tk60 lakh in gains from July to March. The new machinery will boost production capacity and sales, enabling higher product prices and better margins.