Category: Bangladesh

SigMind Takes Top Prize for Bangladesh Finals of Entrepreneurship World Cup

On July the National Finals of the Entrepreneurship World Cup Bangladesh were held in the 71 Millonaiton in Daffodil International University. Tanvir Tabassum, founder of Sigmind captured first prize at the national finals of the Entrepreneurship World Cup competition. The startup is devoted to establishing integrated state-of-the-art machine learning based technologies to detect persons, objects, faces, rearms in real-time from multiple cameras feeds on its powerful server. The system has some innovative technologies like real- time search on video space for specific incident detection and posts analysis. Moreover sigmind made this technology available to big clients like government, corporate clients […]

Daily Entrepreneurship- Bangladesh (13 April 2019)

Bangladesh receives nearly $12b remittance in 9 months Expatriate Bangladeshis sent nearly US $12 billion remittance in the first nine months of the current fiscal 2018-19, which is the highest in the last three years. During the July-March period in the fiscal 2018-19, expatriate Bangladeshis sent $11.87 billion which is 10.30 per cent higher than the amount received in the corresponding period of the preceding fiscal, BSS reports. According to Bangladesh Bank (BB), the country received $10.76 billion remittance during July-March period of 2017-18 financial year while $9.19 billion in the corresponding periods in fiscal 2016-17, $11.06 billion in the […]

Daily Entrepreneurship- Bangladesh (10 April 2019)

Bahrain’s Investcorp keen on Bangladesh Bahrain-based private equity and venture capital firm Investcorp is set to invest in Bangladesh as the country’s striking economic growth over the past five years continues to grab the eyeballs of global players. “We have decided to invest in Bangladesh due to the sustainable and impressive performance of the economy,” said Mohammed Mahfoodh Alardhi, executive chairman of Investcorp, in a press briefing yesterday at the capital’ Westin hotel Alardhi is on a two-day trip to Bangladesh with a team to explore investment opportunities. [More Info…] Complex regulatory regime may hinder 5G: Banglalink CEO Bangladesh’s current […]

Daily Entrepreneurship- Bangladesh (10 April 2019)

Pahela Baishakh: online shops log brisk sales Online shops are now even selling hilsa fish ahead of the Pahela Baishakh, an annual festival that is typically celebrated with a meal centred on the delicacy. One such e-shop is Othoba.com, which has sold about 2,000 pieces of hilsa fish of more than one kilogram each so far, according to its brand manager Nirjhar Kundu. Not just hilsa fish, the sister concern of Pran-RFL Group is also selling products that are related to the festivities surrounding the first day of the Bengali calendar such as sweetmeat, sarees, lungis and so on. [More […]

Daily Entrepreneurship- Bangladesh (8 April 2019)

Exports continue good run in March Exports continued its good run in March, fetching 9.51 percent more than a year earlier and getting into a comfortable position to hit this fiscal year’s target of $39 billion. In March overseas shipments brought $3.34 billion, which is 2.45 percent more than the target set for the month, according to data from the Export Promotion Bureau. [More Info…] MCCI calls for corporate tax cuts The Metropolitan Chamber of Commerce and Industry (MCCI) yesterday demanded reduction in corporate tax in the next fiscal year to facilitate trade and investment. The trade body also urged […]

Daily Entrepreneurship- Bangladesh (7 April 2019)

Rubana climbs BGMEA summit Rubana Huq, managing director of Mohammadi Group, is set to be the next president of the BGMEA after her panel managed a clean sweep at the biennial election — becoming the first woman to lead the garment sector’s apex trade body. Some 1,492 out of the total 1,956 voters yesterday cast their votes in the election to choose the leaders of the Bangladesh Garment Manufacturers and Exporters Association for the next two years. [More Info…] Addressing the menace of NPLs It is heartening to learn that the newly elected government is keen to address the menace […]

Daily Entrepreneurship- Bangladesh (5 April 2019)

Fix regulatory uncertainty to boost investment Regulatory uncertainty has become a major bottleneck for investment in Bangladesh, where private sector investments remain weak, said the World Bank in its latest report. At present, foreign direct investment is less than 1 percent of the GDP. Businesses, particularly the medium-sized ones, suffer from the inconsistencies in policy implementation, said the Washington based-multilateral lender in the Spring 2019 edition of the Bangladesh Development Update. The report, which puts special focus on regulatory predictability, was unveiled yesterday at the WB’s office in Dhaka. “Regulatory uncertainty makes property rights insecure, which is a deterrent to […]

Daily Entrepreneurship- Bangladesh (4 April 2019)

BRAC Bank, bKash partner with Malaysian Incentive Remit for digital remittance services A new strategic partnership between the companies allows Bangladeshi expatriates based in Malaysia to send remittance directly from their phones to 1 million BRAC Bank accounts, 186 BRAC branches for cash collection and up to 30 million bKash mobile money wallets in Bangladesh, the bank said in a media release on Wednesday. Incentive Remit’s mobile-first, digital model saves customers time and money as they do not have to visit a bricks and mortar agent to send money home, the release said. International transfers to bKash mobile money wallets […]

Daily Entrepreneurship- Bangladesh (3 April 2019)

Bangladesh to get e-commerce boost through digital foundation: UNCAD Although Bangladesh has laid an essential foundation for a technology-driven and skill-based digital economy, it still needs to put in place a comprehensive national e-commerce strategy and impro ve delivery logistics, said a United Nations Conference on Trade and Development (Unctad) report. A Rapid eTrade Readiness Assessment, completed by UNCTAD at the request of the Bangladesh government, pinpoints improvements in telecommunications infrastructure, trade logistics, payment solutions, laws and regulations, skills development, and financing, that can accelerate e-commerce and spread the benefits throughout the economy. “All commercial activities are going to be […]

Daily Entrepreneurship- Bangladesh (1 April 2019)

Lending rate to be brought down: PM Prime Minister Sheikh Hasina yesterday said the government will take measures again to reduce the interest rate for the sake of the country’s industrialisation. “We’ll sit again to discuss how to reduce the interest rate of bank loan,” she said while inaugurating the weeklong first national industrial fair in the city. The industries ministry organised the National Industrial Fair 2019 at Bangabandhu International Conference Centre with a view to promoting and expanding the market of local industrial products and attract investment. The prime minister thought that the interest rate of bank loan is […]