ICE Business Times, April 2020

a global business magazine from bangladesh

TIMES

TK. 100 | apr 2020

THE HUMANE SIDE OF BRANDS WHILE COUNTLESS PEOPLE ARE

BEING AFFECTED ALL ACROSS THE GLOBE AND NATIONAL ECONOMIES ARE TOPPLING OVER, BRANDS ARE STEPPING UP AND OFFERING WHATEVER THEY CAN TO STAND BESIDE THEIR BELOVED CUSTOMERS DURING THE COVID-19 HEALTH CRISIS.

IN PURSUIT OF

AS THE HUMAN CIVILIZATION BANDS TOGETHER TO FIGHT THE PANDEMIC COVID-19, HOW ARE BRANDS RESPONDING? READ MORE ABOUT STORIES THAT UNVEIL THE HUMANE SIDE OF BRANDS AND THEIR VALIANT EFFORTS DURING TRYING TIMES TO BUILD A HEALTHIER TOMORROW.

Contents

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From the Editor

10 12 14 16

State of Affairs Happening Banking Corner Around the World

WORD OF MOUTH

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COLUMN

International Marketing Is All About Discipline

TIMES

COVER FOCUS 28 Bitopi Das Chowdhury Head of Corporate Affairs, Brand and Marketing, Standard Chartered Bank Bangladesh 34 Sabrina Zaman, Chief Executive (CE), Impact PR

TECHONOMIST’S TAKE

24 9 Way for Brands to Make Sense of Artificial Intelligence

TECH

67 Technology vs. Calamity Combating coronavirus with the best modern tech has to offer

FEATURES

38 The Humane Side of Brands 42 Branding in the Age of Big Data 46 Embarking the global sphere

a global business magazine from bangladesh

Contents TIMES

TIMES

Vol. 10 No. 7 | March 2020

Publisher & Editor Director, International Publications Executive Director Managing Editor Sub-Editor Senior Designer Marketing

Executive Digital Marketing Finance & Accounts

: : : : : : : : : : :

Abul Khair Zeenat Chowdhury Nawshin Khair Tawhidur Rashid Marjiya Baktyer Ahmed Sk. Yeahhia Mohammad Imran Anik Ahmed Md. Minhazul Yousuf Alvee Fuad Hassan Md. Monirul Islam

This issue’s Photographs by Din M Shibly Eivan Sardar Cover Photograps from EO

Editorial & Marketing Queries tawhidur.rashid@ibtbd.net or send us a note at www.facebook.com/icebusinesstimes www.twitter.com/BusinessTimesBD

Be sure to visit our website www.ibtbd.net

FEATURES

52 Daraz 11:11 The Campaign that Breaks the Internet 54 Tyger Tyger, Burning Bright 58 Success through Synergy 62 Crafting Better Lives 69 Corona VS The World: Quarantined World Economy 75 Branding in the Age of #Metoo 78 Branding in the time of Corona 80 On Your Mark, Get Set, SPRINT 82 The Curious Case Of The Creepy Crawlies: For When The Locusts Descend 86 The First Town Plan of Dhaka - Part 2

Published by Abul Khair on behalf of ICE Media Limited Kushal Centre, Plot 29, Sector 3, Uttara C/A, Dhaka- 1230 and printed at M.K. Printers,189/1, Tejgaon I/A, Dhaka-1208 Editorial and Commercial office: Awal Centre, Level: 05, Road: 34, Kemal Ataturk Avenue, Banani, Dhaka 1213 Advertising 01615732425 Sales, Subscription and Distribution: 01844050620

* Not all the views expressed in the columns and interviews are the views of the magazine.

FROM THE EDITOR The world is currently in the throes of a pandemic which has brought most nations affected by it to their knees. The staggering number of deaths and the volume of infected patients have overwhelmed the healthcare system of countries, while also drawing attention to the myopic approach policymakers have taken when allocating an efficient budget in the aforementioned sector. A glaring disparity has come to light in the big superpowers who have amassed empires through their wartime preparations using the most modern technology available, yet did not pay heed to simple safety measures like masks. The dearth of lifesaving ventilators in hospitals further spotlights that perhaps our far fetched dreams of putting mankind on Mars should have been scrapped and put in the back burner and the fund instead channeled to giving the rickety healthcare system a timely facelift.

While we are forced to stay home and give mother nature the much-needed respite from pollutions generated by our scrupulous acts of industrialization and urbanization, if we look from a different angle, we get to see that this is a very unique opportunity-to rethink, re-strategize and restart our lives as persons and professionals. The age of social distancing thus opens a new window of unprecedented virtual closeness that has been aspired all along. We are working from home and to do so, we are using all possible social platforms. This new way of communication enables us to think about more efficient communication strategies to keep businesses running. Not only businesses but all the universities are also now taking online classes; distant learning has become a new normal. The pandemic thus has ushered in a new era of digital possibilities; where webinars have replaced seminars, sessions are conducted in ZOOM, and Straemyards are considered the new Town Halls for corporations. For how long would we be able to cope with such virtual mechanisms of communicating we cannot say but for the time being, companies which have adapted will survive for sure.

Speaking of survival, economies around the world are shaken up and for the first time in two decades, Bangladesh's GDP as forecasted by the World Bank will nosedive to 3% as experienced in the late 80s. The government has already declared a humongous stimulus package but the onus is put on the banks as they would provide loans in interest brought down to single digit. However, there is no denial of the fact there is already an existing liquidity crisis that has turned banks into the Achilles heel of our economy. With SMEs going to vanish, hundreds of people losing jobs and much uproar for relief materials from the poor and ultra-poor of the country, the future looks bleak.

We at ICE Business Times have always upheld the positive sides of our country’s journey towards achieving a middle-income status. This time too, we solemnly hope that after a successful lockdown the country will bounce back with a more passionate pace while resuming activities and the economy will rise up from the ashes like a phoenix with the help of people from all walks of life. Till then, stay home and stay safe and stay with us.

S TAT E O F A F FA I R S

Word of mouth Prime Minister Sheikh Hasina meets with Foreign Secretary of India, Harsh Vardhan Shringla at Ganabhaban on 2 March 2020.

Prime Minister Sheikh Hasina meets France’s Minister of Armed Forces, Florence Parly at the Prime Minister Office on 9 March 2020.

Prime Minister Sheikh Hasina meets with the U.S. Ambassador to Bangladesh, Earl Robert Miller at Ganabhaban on 16 March 2020.

In a televised speech on April 5, 2020, Prime Minister Sheikh Hasina announced a fresh stimulus package worth Tk72,750 crore which aims to shield the sectors which might face the slump due to COVID 19 pandemic.

Earlier, on March 25, 2020, the government declared the first stimulus package amounting to Tk 5,000 crore for the export-oriented sectors.

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BANKING

Word of mouth IPDC Finance, one of the leading loan distribution organizations has signed an agreement with bKash, the largest mobile financial service provider of the country on 11 March 2020. Mizanur Rashid, Chief Commercial Officer of bKash and Fahmida Khan, Chief Financial Officer (Acting) of IPDC exchanged the agreement on behalf of their respective organizations at bKash head office.

Kamal Quadir, Chief Executive Officer of bKash and Mominul Islam, Managing Director & CEO of IPDC along with other senior officials of both the organizations were present at the event.

To assure building the Dream Bangladesh of the Father of the Nation Bangabondhu Sheikh Mujibur Rahman, Dhaka Bank Limited has announced SOBAR JONNO BARI OFFER under its Home Loan product on 7 March 2020.

Emranul Huq, Managing Director & CEO, Dhaka Bank Limited was present at the announcement ceremony.

Deputy Managing Directors Mohammad Abu Jafar and A K M Shahnawaj, SEVP & Head of Retail Business Division Md. Shafquat Hossain of Dhaka Bank; Arham Masudul Huq, CEO, Dhaka Bank Foundation along with other Bank high officials were present at the ceremony.

A launching ceremony of foreign remittance distribution services organized

by Jamuna bank Ltd. held at the JBL head office on 16 February 202. The honorable Managing Director and CEO of JBL Mirza Elias Uddin Ahmed, Deputy Managing Director Muhammad Shahidul Islam & the Chairman of NEC money transfer Ikram Farazy were present at this occasion.

The Premier Bank Limited celebrated the 100th birth anniversary of Bangabandhu Sheikh Mujibur Rahman across the country starting from the Head Office of the bank (Iqbal Center, Banani, Dhaka) on 18 March 2020. Honorable Chairman of the bank, Freedom Fighter Dr. H. B. M. Iqbal inaugurated the grand celebration. All staffs and executives of the bank stood in line in front of the head office of the bank wearing t-shirts and holding placards with the "Mujib Borsho" logo for ten minutes, at 10am. To mark the celebration, Premier Bank also established a Bangabandhu gate in front of the Head office.

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In celebration of Mujib Year, Director & EC Chairperson of the National Bank Limited, Parveen Haque Sikder MP, MD of the Bank C.M. Ahmed, AMDs M.A. Wadud & ASM Bulbul, DMD Ekramul Haque, Divisional Heads and a hundreds of officials from Head Office held a human chain wearing T-shirts containing Mujib 100 Year Logo and weaving placards for ten minutes from 10.00 am to 10.10 am on 18 March 2020.

On 18 March 2020, Honorable Home Minister, Freedom Fighter Mr. Asaduzzaman Khan Kamal, MP inaugurated the “Mujib Corner" as Chief Guest. The Honorable Chairman of NRBC Bank Parvez Tamal attended the program as the Guest of Honor. Honorable Founder Chairman Engr. Farasath Ali, Honorable Director Loquit Ullah, Director Mahammed Manzurul Islam, Director A K M Mostafizur Rahman, Sponsor Dr. Rafiqul Islam Khan, Sponsor Mohammed Shafiqul Islam, Shareholder Mr. Mohammad Ali Chowdhury was present in the ceremony.

Prime Bank Limited has launched an awareness drive on Coronavirus on 21 March 2020. In the wake of the outbreak, the bank has distributed awareness flyer among the customers at its branches across the country. The bank has also made arrangements for hand sanitizer for the customers at all branches. The bank has made glove, mask and liquid hand wash available for the employees and advised employees to wash hands in regular intervals especially to those dealing with cash transactions.

The bank has intensified the clearing drive of all the premises at least twice a day.

Standard Chartered Bank signed a MoU with PHP Automobiles Ltd on 11 March 2020. Customers purchasing Proton vehicles with Standard Chartered Auto Finance will be offered 50% rebate on vehicle registration fees by PHP Automobiles Ltd. Mr. Lutful Habib, General Manager-Priority Banking, Deposits & Mortgages, Standard Chartered and Mr. Taseer Karim, Executive Director, PHP Automobiles Ltd., signed the MoU on behalf of their respective organizations.

www.ibtbd.net

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Word of mouth

HAPPENING

The new Haval H2 2020, was launched on 14 March 202p under the title of “Haval H2 Reborn” at Haval’s Dhaka Head Office. It features a refreshed design with a more distinctive look and comes with a number of technical innovations: new engine with more performance and lower fuel consumption. Few excellent features are available with new H2, Apple Car play, Panoramic Roof, Alloys, Leatherette Seats, All-around 6 Airbags, Brake Assist will make this H2 more safer out there for its customers and their families. The new Haval H2 is perfect combination of quality and efficiency.

In continuation of the success stories “15th Dhaka Motor Show 2020”, “6th Dhaka Bike Show 2020”, “5th Dhaka Auto Parts Show 2020” & “4th Dhaka Commercial Automotive Show 2020” originally scheduled to be held on 19-21 March 2020 has been rescheduled for 27-29 August 2020.

Dr. Khatun, Executive Director, CPD shared her observations at a virtual media briefing on “Health and Economic Risks of Corona Pandemic and Recommendations” organised by Centre for Policy Dialogue (CPD) on 21 March 2020 at CPD Office in Dhaka. In her presentation, Dr Khatun pointed out that poor budgetary allocation (0.9 percent of GDP) for the healthcare sector has been a longstanding problem for Bangladesh. Government budget for health (as a share of GDP) is considerably lower than the targets stipulated in the Seventh Five Year Plan (7FYP) and World Health Organization (WHO) benchmark as the 7FYP target for health budget was 1.12 per cent of GDP while the WHO target is 5 percent of GDP.

Following Diamond World's success in Dhaka International Trade Fair, the jewellery brand has set their sights to participate in the Chittagong International Trade Fair.

A program was held on 5 march 2020, where Diamond World's stall was inaugurated by the Honorable Commerce Minister Tipu Munshi, President of FBCCI Sheikh Fazle Mahim, president of Chattogram Chamber of Commerce Mahbubul Alam and other local honourable people.

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Huawei's much-anticipated HMS based flagship smartphone Mate 30 Pro was unveiled in Bangladesh market on 1 March 2020 at a hotel in the capital.

Beyond Zheng, GTM Director, HUAWEI Consumer Business Group (Bangladesh), Junior Salahuddin Sanjee, Sales Director, Huawei Consumer Business Group (Bangladesh), Mohammad Zahirul Islam, Managing Director, Smart Technologies (BD) Ltd, Suman Saha, Senior Public Relations Manager, Huawei Consumer Business Group (Bangladesh) among others were present at the event.

The largest financial institution IDLC launches their first venture capital fund—“IDLC Venture Capital Fund” in an event at Hotel Intercontinental Dhaka on 3 March 2020. The launching event was graced by Honorable Member of Parliament and State Minister of Information and Technology Division, Government of the People’s Republic of Bangladesh, Zunaid Ahmed Palak, the MD and CEO of IDLC Finance Limited, Arif Khan, along with high officials of IDLC & distinguished guests.

Uttara Motors Ltd, one of the leading and renowned automobile distributors of Bangladesh, has launched the Japanese car maker, SUZUKI’s new ALTO and the all new WagonR in the local market on 29 February 2020. Dr. Md. Kamrul Ahsan, Chairman of Bangladesh Road Transport Authority (BRTA) and Matiur Rahman Chairman and Managing Director of Uttara Group of Companies, unveiled the new Suzuki Alto with the theme of NOTUN ALTO NIYE HOK SHOPNO PURON and the all new Suzuki WagonR with the theme of LIVE BIGGER WITH THE ALL NEW WAGONR. In addition, 50 new Altos & WagonRs have been handed over to the buyers at the launch ceremony at Intercontinental Hotel in the capital.

A grand feast from the Middle East awaits customers at The Westin Dhaka! From 16 till 26 March 2020 The Westin Dhaka will present Middle Eastern food festival at the Seasonal Tastes restaurant. The food festival is a dinner only event and the buffet dinner is priced at BDT 6000 Net per person. Throughout the festival, exciting B1G1 (Buy One Get One) offers is available on selected cards of BRAC Bank, AB Bank, Bank Asia, The City Bank American Express, Dhaka Bank Ltd., Eastern Bank Ltd., Midland Bank, Mutual Trust Bank, NCC Bank, Prime Bank Ltd., South East Bank, Standard Chartered Bank and UCB. Robi Platinum Ace & Platinum base subscribers can also avail the B1G1 offer. Also, a very special B1G3 (Buy One Get Three) offer is available on 17 March & 26 March on selected cards of DBBL.

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BTRC TO EXTEND TELCOS’ SERVICE QUALITY TEST TO VILLAGES

The Bangladesh Telecommunication Regulatory Commission has decided to

ADB will support Bangladesh to curtail COVID-19 impacts

The Asian Development Bank (ADB) would support Bangladesh in tackling novel coronavirus (Covid-19) outbreak challenges, said Manmohan Parkash, ADB Country Director for Bangladesh.

Parkash told this to reporters after speaking with Finance Minister AHM Mustafa Kamal in the capital on 21 March 2020.

The discussions included the government’s preparedness for mitigating any potential outbreak, its economic impact, and possible ADB support following a government request for assistance.

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extend its quality of service (QoS) measurement test for mobile phone network coverage and capacity to upazila and village level. The telecom regulator on February 19 issued an expression of interest (EoI) for the interested parties to conduct the test drive in designated highways, district, upazila, union and village roads and at selected spots. The firm

awarded the job will be conducting drive tests for measuring and assessing the coverage, capacity and quality of service of cellular mobile networks throughout the country. The interested firms or joint venture companies were asked to respond to the EoI by March 15. The tentative timeline of the test drive to measure QoS will be from May to October.

PROFIT PURSUITS AMIDST PANDEMIC

The prices of rice and other essential items such as pulses, onion, garlic, potato and egg have maintained their upward trend as people continue to buy beyond their needs in fear of bad days due to the coronavirus pandemic.

Retailers and wholesalers blamed each other, while consumers blamed them both for cashing in on people's panic buying.

Visiting several kitchen markets in Malibagh, Rampura and Badda yesterday, several retail and wholesale rice shops were found closed.

People have been seen to stock essential grocery items, especially rice, after the declaration by the education ministry shutting down all educational institutions until March 31.

This prompted many traders to increase prices by Tk10-25 per kilogram.

LOAN PROVISION RULE EASED TO HELP BANKS BOOST CAPITAL

Bangladesh Bank yesterday brought ease to the provisioning requirements under the relaxed loan rescheduling policy as part of efforts to strengthen the capital base of banks. Banks will now be allowed to show 50 percent of their provisions against loans as their capital, according to a central bank notice sent out to all lenders. The rest of the provisions will have to be kept as "specific provision" and, if the loans are not recovered in the end, the provision amount cannot be shown as income. Of 58 banks, 15 failed to raise their capital adequacy ratio (CAR) to 12.50 per cent against the risk-weighted assets within the deadline of 2019 set by the central bank. The latest decision will help banks boost their capital, which will ultimately put a positive impact on the CAR.

WORLD BANK ALLOCATED

$170m to improve sanitation in Dhaka

The World Bank has approved $170 million to improve sanitation services in Dhaka city, benefiting around 1.5 million people. The Dhaka Sanitation Improvement Project will help improve the city's livability with safely managed sanitation services in Dhaka, particularly in its southern part, the Washington-based development lender said in a press release on 19 March 2020. The project will treat sewage and septage, which will help reduce inland flooding and water pollution. It will also provide 50,000 new household sewer connections.

Furthermore, to improve the quality of living in slum and low-income housing areas, the project will upgrade toilets and install communal septic tanks.

Stocks experience rise amidst regulator’s unprecedented policy

It was an extraordinary day at the twin bourses on 20 March 2020. On the day that new curtailed trading hours were supposed to take effect, trading did not begin on the usual start time of 10:30am. In the absence of any clear message from the stock market regulator, the delay left the already nervy investors on tenterhooks. Trading eventually began at the Chittagong bourse at 1pm and shut 30 minutes later. The window was long enough for investors to make 800 trades and bring CSCX, the key index of the Chattogram Stock Exchange, 105 points lower at 6,641.Over in Dhaka, trade did not begin until 2pm and went on for 30 minutes. But, stock investors dived in, sending DSEX, the benchmark index of the Dhaka Stock Exchange, soaring 371 points, or 10.29 per cent -- which is the single-day highest jump.

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SHARP DECLINE IN SMARTPHONE SHIPMENTS Smartphone shipments took an historic plunge last month as the novel coronavirus disrupted supply and demand, industry tracker Strategy Analytics said on 21 march 2020.

Global smartphone shipments dropped to 61.8 million in February, a 38 percent drop from the same month a year earlier.

"February 2020 saw the biggest fall ever in the history of the worldwide smartphone market," said Strategy Analytics

executive director Neil Mawston. "It is a period the smartphone industry will want to forget." Smartphone supply and demand plummeted in China and across Asia, and slowed in the rest of the world. The smartphone industry will have to work harder than ever to lift sales in the coming weeks, such as online flash sales or generous discounts on bundling with hot products.

SILVER LINING IN INDIA’S RISING RURAL INFLATION NUMBERS India's rural inflation rate surged faster than urban inflation for the first time in 19 months in January, and economists are optimistic that signals something the country desperately needs - a revival in demand in the rural economy. Around two-thirds of India's population depends on the rural sector with agriculture accounting for near 15 per cent of India's $2.8 trillion economy, and rising inflation suggests pricing power is returning to the hands of the farmers, say economists.

Rural inflation rose to 7.73 per cent in January, higher than the urban inflation rate - which was 7.39 per cent - for the first time since June 2018. The latest data, released on Wednesday, also showed that overall inflation was 7.59 per cent - its highest

HUGE ECONOMIC SUPPORT PLANS MOTIVATE MARKETS TO RALLY ON 18

level in more than six years. While the higher inflation readout, which comes at a time when India's growth has likely slumped to 11-year lows, has fanned some concerns around stagflation, economists say the inflation numbers could also signal some momentum returning to rural growth.

Equities enjoyed some much-needed gains Friday after another volatile week on global markets as investors took solace in a blockbuster series of government and central bank measures aimed at cushioning the economic blow from the coronavirus.The dollar eased somewhat after a lengthy rally fuelled by traders cashing out of their investments, while the embattled oil market extended Thursday's gains.

With the deadly pandemic showing no sign of ending, countries are going into lockdown, effectively shutting down the global economy and leaving experts in the dark as to how deep and long an expected recession will last.

Column

Dave McCaughan

Faiyaz Ahmed

INTERNATIONAL MARKETING IS ALL ABOUT DISCIPLINE Brands needs to focus on research to understand how their products and services will translate into the context of the market they are entering in order to be successful Symbols, colors, packaging designs need to be thought through carefully. For example, while it might seem some colors have universal meaning ( green equals nature or fresh, blue means clean, gold means wealth ) that is not always as simple as you may think. And even brands that have established themselves around a single color can be caught out. Twenty plus years ago when Coca-Cola relaunched in Vietnam they were caught in a debate with the government who claimed that the particular PMS red tone Coke uses on everything was not allowed as it was the one used on the national flag. It was resolved but a good example that what seems simple can get caught out.

KFC has been very successful in expanding and becoming the market leader in countries like China and Japan by simply realizing that while people may initially want to have a piece of “American culture” they may not interpret the actual offer the same way. In Japan KFC has done a tremendous job over the last fifty years of making itself part of local life. The product is fairly standard to the USA offer but they have managed to insert the brand into local life. For example as Japanese

nce you have a brand/product/service and you’re looking to market it in one or more countries other than your own, it is crucial that the most important elements of marketing have to be arranged. Do you have a way of distributing and retailing your offer at a price those markets can access and afford. Then you have to think about positioning, messaging, packaging, and product mix.

The BIG rule is : understand the similarities and differences in your target markets. Again obvious but so many marketers fail to do good research.

Sometimes the mistakes seem so obvious on reflection. There are many horror stories where brands were launched into foreign markets without checking whether the brand name was not offensive in other languages, or just too difficult for people in other countries to say.

THE WRITERS

are the Founders of: Marketing Futures – A knowledge platform where Training, Mentoring and Brand Consultancies Are carried out by international marketing veterans.

For more information please follow us at: facebook - marketingfuturesbd email - marketingfuturesbd@gmail.com

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people started to adopt Christmas not as a religious holiday but a family event KFC became known as and remains the accepted Christmas day dinner for families.

In at least one survey I saw a few years ago the majority of younger Japanese now consider KFC a Japanese brand. Meanwhile In China the brand has gone a lot further. When it started launching western style food was not so well known or liked.Therefore, the brand added and adapted it’s menu to a wide range of primarily chicken and then other “localized” dishes and offerings. Those menu adaptations allowed it to become easily the NO 1 fast food chain in the country. A model that KFC and other fast food chains now adapt in many markets. One simple guide to any brand entering a new country might be “what extra value do we offer that the existing market lacks”.

American pop culture brands like LEVI’s, Marlborough, Coke, Mcdonalds, Starbucks all benefited by in some ways epitomizing the American dream as propagated by Hollywood. As they launched around the world they bought an easy way to access “America” and what ever local populations saw it representing whether that was “cool”, “modern”, the “vogue” etc.

Certain countries have a reputation and aura that supports brands from those markets when they expand. Highly engineered products from Germany, luxury brands from Italy or France, anything chocolate from Belgium or Switzerland. If you are a brand in those categories from those markets you are going to be listened to in most countries.

MasterCard was a global “me too” credit card brand. It was doing OK, it was in 100 plus countries. But it

Google, Nike, Apple. They all do a lot of cultural research, semiotics, anthropology on their categories, the cultures, the people, the lives of the countries they launch new products in. Not just product testing. That is good and should be done but real research into what makes countries different and similar to your own is really needed. Do that and Hockey game in Canada, a first then apply the other cricket match in India. You get it.

If you search deep and find an rules. insight that your brand can own was mostly seen as “just another card in my wallet”. AMEX, VISA, DinnersCard all had a more distinct image. Then in the late 90’s when your authors both worked for the world’s number 1 advertising agency, McCann, someone in New York came up with an idea. Why not change the nature of the category and the brand. Instead of messaging all around me too stories of travel, vacation, special occasion purchasing make the brand about “Priceless” moments in people’s lives. The little things like taking your son to his first baseball game and how priceless that little expenditure will be for the rest of your life.

The thing was that the insight “there are some things that are just worth more than what you spend on them” was a universal one.

When you told simple stories built on it with local relevance everyone got it, liked it, wanted a piece of it.

We quickly found that the story of a first baseball game in the USA easily translated into a first football match in Argentina, a first

that is universal AND then make sure you present it in a locally relevant way then you know you can make a difference in each market.

At the end of this article we have listed 5 rules we have learned from our experience. All pretty obvious when you read them. But not always so easy to apply.

The basis of all success will always be “homework”. Have you done the right research and enough research? For example we sometimes forget that famous international brands research everything. Google, Nike, Apple.

They all do a lot of cultural research, semiotics, anthropology on their categories, the cultures, the people, the lives of the countries they launch new products in. Not just product testing. That is good and should be done but real research into what makes countries different and similar to your own is really needed. Do that and then apply the other rules.

So here are three Lessons Learned from our experiences that highlight universal truths about international marketing : www.ibtbd.net

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TRUTH 1 : ADAPT OR DIE : SEIYU WALMART JAPAN

No matter how true you think your brand difference is in some markets it may be misinterpreted and you need to be willing to adapt your offer to suit local beliefs and tastes. WALMART is the world’s biggest brick and mortar retailer. Very successful in many markets the brand had struggled in Japan and withdrawn from the market. In the early 2000s they tried again by buying the existing SEIYU grocery store chain. They went about applying WALMART’s famous supply side procedures etc to make the business more efficient. But what to do about branding. And positioning. Because there was an issue.

WALMART is based around the brand promise of EDLP ( everyday lowest price ). It works everywhere because shoppers appreciate getting a deal. Except. In Japan the EDLP concept was interpreted slightly differently. Research found that Japanese housewives interpreted it as meaning something like “we will sell you cheap stuff made in China”. No look at rule number 2 below : “understand what really matters to the target market”.

Japanese people are by cultural inclination and life experience very fussy about what they buy, where it is from, how it was grown, made, prepared. Research again had shown that Japanese housewives are the most likely shoppers in the world to read the back of the packs of everything they buy. So anything that smelled like selling them cheaper options made in other market markets was suspicious.

So what happened ? WALMART agreed to keep the local brand

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TRUTH 2 : LOCAL CULTURE IS THE SECRET : DARLIE TEACARE : CHINA

name dominant. Instead of rebranding everything as WALMART it became SEIYU MALMART but on all signage and communication the local name was much bigger than the international brand name. Instead of promising EDLP, communications used a local slang term that basically meant “we love you”. Instead of focusing on cheaper products at cheaper prices, inventive ways were used to illustrate you could get the best deals. For example one very successful promotion asked the public to nominate what items in the stores should be on sale and at what price and the top 100 scoring suggestions were put in place.

A global brand adapted to a tough market and delivered the value it was famous for but in a way more aligned with local sensibilities.

Darlie was a very successful brand of toothpaste in its home market of Hong Kong as well as Taiwan, SE Asia for decades and starting in the late 1990s was making inroads back into China. It was doing OK. But realistically it’s formula for its original family oriented toothpaste and a relatively new whitening variant were not that different from its sister brand Colgate ( the Darlie brand had been purchased by Colgate twenty years earlier ) or other international brands.

How to stand out in China ?

Tweaking advertising to reflect typical Chinese consumers and the normal expectations of toothpaste for healthier teeth, social appeal etc were ok but not really making a huge difference. Growth was coming really from expanding distribution.

But again like most brands entering a new market getting a new distribution was reliant on the basics of good marketing : trade deals, pricing, special offers. But how to attract attention and demand rather than just negotiate selling another brand ?

It took a few years but started with a simple thought based on rule number 3 below “what are local culture connections you can use?”.

Brushing your teeth is more than oral care, it's part of a whole selfcare universe. In China there is an ancient and well understood history of traditional health care based in part on the use of herbs and other plants that help provide holistic wellness. Could Darlie use that cultural connection?

Tea. Traditional green tea. In China it was seen as healthy for the whole body. A natural way to help ward off problems. A drink taken everyday with no limits to it’s application. Well now around the world we think of green tea based products of all kinds as normal but the period 2003-05 when Darlie started to experiment adding a little tea into it’s toothpaste to offer a more whole body cleansing product that was also a very effective toothpaste was brand new.

The product is called Darlie Teacare. Look it up. It powered Darlie to be the number one brand in China and East Asia. It was all about looking at local culture and finding something you can rebuild your brand offering around.

about the brand name. Straight away there was some confusion. Was this a fruit juice drink?

Lot’s of activation work on campuses and at places youth gathered helped make them look at the brand but to make it affordable and meet target sales rates were slashed. So now what was hoped to be a “cool” brand was a cheap brand which anyone could purchase. So suddenly a lot of “uncool” people were interested, which then meant the real target group were not. Get the drift of where this is going.

Maybe not enough homework and research. Not enough thought as to how to keep the target happy and exclusive at a price that made sense.

A big learning too many marketers don’t get: how do you position a new brand in a new market and keep it focused?

Djuice died. Lesson learned we hope.

International marketing is fascinating. It is full of difficulties.

But like so many things at its heart are some basic simple rules to remember. Let us know if you want to know more.

TRUTH 3: MAKE IT CLEAR AND ON TARGET: DJUICE BANGLADESH

Maybe a warning tale from here in Bangladesh. If you are an international company (Telenor) with a local brand (Grameen Phone) trying to expand with an idea that has worked elsewhere you need to be focused, do your homework and have a proposition that the target actually understands.

In theory the brand Djuice seemed like a good idea. One used in many places.

You want more of the booming youth market so you create a brand that is focused on them. A “cool” youth brand. Be careful folks of the word “cool”. We have never heard of a successful brand that was based on being “cool” simply because it is a word of no real definition. Back in the mid-2000s Djuice was introduced as a service targeting upper middle class young people with a trendy, “I am part of the cool generation” mindset. Lot’s of graphics and logos and messaging

5 BASIC RULES FOR MOVING BRAND INTERNATIONALLY ( well based on our experience ) :

1. Understand what really makes the brand work not the name, the packaging, the logo but the real meaning of the brand 2. Understand what really matters to the target market what is similar/different to your home market 3. What are the local cultural connections you can tap in to.

Maybe people aspire to something from your background, maybe they need your offer made more suited their lives 4. Avoid believing “everybody will want this” - there is no such thing as “everybody” and even foreign markets that seem very similar in some ways will have fundamental differences 5. Do your market research, the failure to spend budgets on thorough research is just a failure of your professional marketing capabilities www.ibtbd.net

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By Maimun Mustafa

Techonomist’s Take

The Writer is a Serial Entrepreneur and can be reached at maimun@globalchamber.org

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9 Ways for Brands to make Sense of Artificial Intelligence As Artificial intelligence, or AI as it is more popularly known, begins to shape people’s daily lives, brands have to seriously consider how they should realign their behavior and interaction to engage more effectively with the evolving desires of customers. The rapid rise of AI in the market today is all about how this trend will disrupt multiple industries, redefine businesses, and bring in new job roles. However, less attention is being paid to leveraging the technology towards brand strategy. Experts believe that in the future, intelligent machines will become crucial tools for formulating and acting on brand strategies.

CXOs need to establish that AI is not a new market gimmick but a force here to disrupt business in days to come. It is a timely technology and it is there to stay.

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AI Available for All Sizes

One of the best aspects of AI is that it can be leveraged for success by any size of enterprise. Small businesses can actually deliver similar experiences as giant corporate competitors by employing predictive analytics operations. In fact, eager entrepreneurs with innovative brands can get a better foot into the market, thanks to ad-targeting using AI.

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Clear the Noise in the Clutter

With the number of consumers using ad-blockers increasing, brands need to cut through this noise to deliver an honest and effective message to consumers. This has given birth to an AI war, where creative brand professionals are finding themselves to provide an engaging user experience. Those who are not yet leveraging predictive analytics and powerful algorithms to deliver better user experience simply do not stand a chance to stay in business.

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Live the Simple Life

AI has become a prime conversation topic among branding professionals.

Why so? The core task of any value proposition is that it should make life easier and AI does exactly that.

Therefore, creative marketers are equally concerned about AI in addition to their tech savvy programmer counterparts because the market demands attention to this exponentially growing phenomenon.

We are being bombarded with an invasive amount of information, and we need to be able to process these massive quantities of data available

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Leverage AI in Digital Advertising

and optimize their usage. However, in many scenarios, people have to go by mere intuition. Is it feasible? Maybe in a century or a millenium, yes.

When it does, the results are not usually well targeted. That’s where AI comes into play. AI is no longer an apocalyptic nightmare that was prophesied in The Terminator movies but a lucrative prospect for business brands to take advantage of. Think of IBM, Google, Facebook, Tesla, Lenovo, Coca Cola, Adidas, Starbucks, Amazon and Microsoft.

What do they have in common? They have all begun using AI in their marketing and branding strategies to give simpler and better experiences to customers.

After programmatic and cognitive advertising (which are based on advanced algorithms helping with demand and supply optimization) AI advertising is the new term to look out for. There was a time we used to make ads ourselves, and many of us still do. However now you may not need to bother as the AI can now make ads for you. That is exactly how Coca Cola and Quartz, partnered with DigitasLBi Hewlett Packard Enterprise, decided to win the market over with this win-win. Additionally IBM Watson has become the most empowering tool for any business, and still more companies are using AI to boost sales. Another great example is Albert, Harley-Davidson’s AI-driven platform for marketing. The Albert AI helped increase sales by 2,930 percent and saved time and effort for www.ibtbd.net

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Harley-Davidson’s marketers.

Moreover, the numerous outstanding features Albert had to offer made making ads really effective. Albert’s of the word “call” performed almost 450 percent better than those with the word “buy.” An obvious improvement.

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Lead the AI Age with Lead Generation

Companies like Gazelle.ai make sense of myriads of data and through machine learning to surface great leads: growth companies. Gazelle.ai was designed from the ground up to help business development professionals work smarter and faster and to get those professionals in front of the right companies with the right information at the right time. Gazelle.ai’s heuristic algorithms access vast pools of data across multiple sources including industry, spatial, and firm-level data spanning more than ten years. The platform consumes data from leading providers and looks at hundreds of signals such as financial ratios, pension payments, establishment numbers, executive salaries. It also looks at data like export activity at the county/industry level (level, growth, intensity) and state/county level variables including quality of infrastructure, business costs, patents, as well as 4-digit and 6-digit industry-specific data.Combining this rich data with AI techniques such as dynamic deep learning, neuroplasticity and dynamic input attention, Gazelle.ai is able to consistently identify companies poised for growth and expansion.

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Incorporate The Customer Service Factor

After “advertising,” “personalization” is the first phrase we hear when talking about AI in branding. Brands are rushing to make experiences more personalized in their marketing plans. However, personalized customer service remains a distant dream without AI. Personalization

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and strong communication go hand in hand. It is near to impossible for a brand to dedicate a personal human assistant to each customer when it comes to after sales service. Here come AI personal shop assistants and chatbots to the rescue in the communication supply chain. More interactive shopping experiences can also result as a consequence of integrating AI with branding. Product recommendations to analyze cross-sells and upsells tend to be faster than any human, and result in a creative engagement. For example, Starbucks and its virtual barista allows customers to place orders by tapping a button and communicating with the personal assistant. On the other hand, American Eagle’s Aerie chatbot attracted more users with the AI than with all their other social media channels combined. The entertaining and interactive means helps brands in winning audiences over.

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Strategize with SEO

The most significant aspect to keep in mind about AI in SEO is the power of voice search like Siri, Cortana, and Alexa. These technologies have forever changed search queries. As such, question words like “how,” “where,” “what,” “who,” “when,” “why,” “close,” and “nearby” have all become query triggers.This is why brands are having to face the need to change their keyword planning strategy as well. You can also leverage AI in your content marketing. AI saves time, delivers generated content, customized news feeds, and predictive intelligence.

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Design Digital with AI

AI website design can be found most notably in The Grid. It is called the website of the future, and perhaps it designs itself without any human help deserves respect. This is only the beginning—we’re only at the starting line of a tremendously promising adventure in marketing and design..The Pokémon Go obsession a

few years back showed that augmented reality (AR) could rule the mainstream. AR has already become an inherent part of our lives, and virtual reality (VR) glasses, virtual desktops, Google’s Tilt brush, and many more tools and toys are selling themselves on the net. Lenovo’s New Glass C200 combined AI and AR in a very smart way. In the near future, we’ll have a chance to make purchases in VR environments as well. Virtual Kiosks can save up space and virtual assistants can help brands get an edge in cutting costs of labor while still keeping a human touch.

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Artificial Mind and Heart

This availability of IBM’s Watson, Amazon’s AWS, and Microsoft’s Azure offers the potential for brands to experiment with machine learning applications at minimal expense.Cloud-based AI services enable developers to build products that a few years ago would have seemed like magic. As these services provide much of the processing and computational power, the job of product teams switches from designing algorithms to furnishing usable data with a desired output in mind.To put it another way, cloud services allow teams developing applications that rely on machine learning to shift some of their resourcing focus from machine learning-specialists to product designers.

However, no matter how tempting it is to ride into a new technology wave, incremental steps might be a better tactic when it comes to AI. The balance is ensuring brands retain moments of empathy and relationships when it matters. The smartest experiences are the sum of all net consumers experiences combined. AI has provided for smoother and more human-like communication interactions, thereby creating stronger connections between people, machines, and the brands behind them. If we keep branding at the center of how these relationships are built, it is imperative that these machines have “heart” in whatever they communicate to end users.

Banking

The Ultimate Standard B ITOPI DAS CHOWDHURY of Standard Chartered Bank shares her insights into how banks need to customize their communication strategies and tailor products for their evolving consumers

With an impressive career spanning a decade with Standard Chartered Bank, can you talk us through how STANDARD CHARTERED BANK envisions itself to be in the new decade?

Standard Chartered has been in Bangladesh for 115 years. We are a British bank, but globally we exist in some markets for over 150 years.

Globally we employ over 80,000 people. In Bangladesh our organization is almost 2200 people.

We have been one of the largest taxpayers in the country, all sectors combined in the last 5 years or more. Obviously we want to continue in this decade with our streak of innovation. We want to be seen as market leaders, thought leaders, bringing in new expertise and innovation in the market; because we have that strength from

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By Marjiya Baktyer Ahmed

our global knowledge. We operate in a lot of advanced markets. In Bangladesh, banking is still evolving and to a large extent very sophisticated financial products are still not there in this market. That is because we do not have the need for such sophisticated financial solutions yet; but the need will arise and we hope Standard Chartered will be in the position to work with the regulators, work with our clients, when we migrate to higher levels of maturity in banking.

Bangladesh is currently experiencing potential growth in Islamic banking and ďŹ nance due to rapid expansion in the sector. How is STANDARD CHARTERED BANK positioning itself to its customers to make most of the boom in this regard?

Recently, we celebrated 15 years of Saadiq in Bangladesh. It is an Islamic Banking brand through which we offer a full suite of banking products, both for retail and corporate space. Bangladesh is one of the leading 6 markets for Standard Chartered bank where Saadiq is very important. In these 15 years, we have reached a large number of clients/customers; we have received very good responses from both our retail customers and

B I TO P I DAS C H OW D H URY Head of Corporate Affairs, Brand and Marketing Standard Chartered Bank Bangladesh

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also corporate customers.

The CEO of Saadiq at Standard Chartered was in Bangladesh recently, and he spoke to regulators and stakeholders as to what new products can be brought in, because we feel that in Bangladesh our customers are ready to have more Saadiq products. In the regular commercial banking space, we have been working with regulators to share the best practices from other markets that Standard Chartered operates in.

Consequently, over the years we have been integral in working with the regulators in formulating many new banking regulations. We are very fortunate that our regulators feel that we have the expertise.

Through Saadiq, we have introduced innovative Islamic Banking solutions in the country; for example, Sukuk transactions were first done in 2019 by us in Bangladesh. We have a Sharia board within Standard Chartered which includes many Islamic banking experts, scholars, academics and other regulators. Hence, all our products and services are very strictly streamlined on the Islamic principles. What we see in Bangladesh, since our economy is growing very fast, banking is also growing, and we expect more and more people in Bangladesh to be brought within formal banking channels; “financial inclusion” is one of our highest priorities.

There are a lot of unbanked people in Bangladesh, but as the leading bank, our aim is to bring the unbanked people within the network of formal banking channels. To achieve that, we work with MFIs to reach rural people through agricultural lending, for example. Through MFIs if need be, maybe we can look at banking the unbanked, and especially if they have a faith based inclination to go into Islamic banking, we should be able to cater to them.

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What makes STANDARD CHARTERED BANK the market leader in the banking sector? How is it different from its competitors?

Our biggest strength is the strong internal network we possess. We learn from a lot of other markets. We have got expertise and technology in many markets, which we can basically learn from and then bring to Bangladesh. A local bank will usually not have that strength.

Secondly, our people are at the core of Standard Chartered’s efficiency.

We try to attract the best in the industry. We have a lot of opportunities for investment in people who join us, through training, mentoring and development for their career. Our people are actually given the chance to learn and grow with the bank. Since we are an international bank, we can provide our people the opportunity for working in multiple markets.

We can take the experiences of our CEO as an example. Our current CEO had been with Standard Chartered bank for 25 years, when he took over as CEO. He started his career in Bangladesh, worked in Vietnam and several other markets fulfilling different roles. Before he took over as CEO, he was the head of corporate banking, head of credit, he also worked as the relationship manager.

So, our staff get a well rounded experience to grow and learn and be a leader in the bank. This is our second biggest strength.

Thirdly, our knack of being first always keeps us motivated. We keep on trying to push the boundaries. We have a global subsidiary called the SC VENTURES , which is a spinoff of

“Innovation” is important enough for us to have a subsidiary working on whatever is going on and whatever is new in the financial sector, so we can bring in these innovations in our mainstream banking offerings, as and when needed.

our bank. Their entire work revolves around startup companies and how to invest in new and innovative products and financial solutions. SC VENTURES works with different types of fintech companies, they are trying out different platforms, like cryptocurrency and blockchains.

“Innovation” is important enough for us to have a subsidiary working on whatever is going on and whatever is new in the financial sector, so we can bring in these innovations in our mainstream banking offerings, as and when needed. That is our third key strength.

What has been the most successful branding strategy you headed in your career as the Head of Corporate Affairs, Brand and Marketing at STANDARD CHARTERED BANK?

Standard Chartered is a global brand.

When we are building brands, we don’t have too much localization.

Standard Chartered, the way it looks and feels and what it stands for in Europe, Middle East, Bangladesh, it would all be the same. However, in each market we position our brand differently. In Bangladesh, Standard Chartered is the oldest financial institution, having been here for 115 years. Our brand here represents the trust of generations of clients, confidence from our regulators and the proven track record of being a ‘partner in progress’ for this nation.

We embody our tagline ‘Here for good’ in Bangladesh and in everything we do. My key achievements in building our brand in Bangladesh have been in the areas of Liverpool sponsorship activation, introducing Bangladesh Investment Summits and designing customized Community Engagement initiatives.

Standard Chartered tied up with Liverpool Football Club, we have been the main sponsors for them since 2010, and we just celebrated 10 years of partnership with them.

Liverpool has been doing very well in the English premier league in the last 2 years. This year they are poised to become the champions after many years. It has been a very good

partnership. When we signed up in 2010, all the markets where we have English premier league fan following, were given the task to translate the association with Liverpool football club into local activation. Our performance in Bangladesh has been an example that we shared with other markets. Our LFC activities have been some of the highlights of my career, because English premier league is not as big as cricket here, but we still had very high engagement in all our LFC related initiatives. What you see here at the front of our building, to all the activities that we have done with schools activation with our clients children, activation of our staff, the LFC legends Robbie Fowler, and John Barnes coming into Bangladesh, have all been very impactful. We have the Liverpool official fan club in Bangladesh; we have worked with them to bring this partnership to life. Every year we have been having a lot of activities, and this is something that I think has gone extremely well in Bangladesh.

We introduced the concept of “Bangladesh Investment Summit” where we started holding big events outside of Bangladesh, showcasing Bangladesh as the destination for foreign direct investment or for partnership. The first summit was held in 2012.

Standard Chartered bank is extremely hopeful about the progress of Bangladesh's economy. We know there is a lot of potential and if all the mechanisms, regulations and investments are right, our economy is going to go places.

Bangladesh is now one of the fastest growing economies in the region, but there is a lot of work still left to be done. Other than the Bangladesh Investment Summits that were organized by Standard Chartered Bangladesh, we’ve also worked with Bangladesh Investment Development

Authority (BIDA) previously known as Board of Investment (BOI) to support their initiative in London; a 2 – day conference was held where several respected ministers, lawmakers and industry leaders were the key speakers.

At these investment summits, we engage several of our clients, especially foreign investors, so that the audience can hear directly from them about their investments in Bangladesh. The Standard Chartered offices at Singapore, Hong Kong, London also actively support us in attracting the right audience to these summits. So another key achievement of mine are these Bangladesh Investment Summits, which is a unique concept I’ve introduced for our Bank.

Community Engagement is one way by which we bring to life our tagline ‘Here for good’. It means we are here for the long term, so all our Community Engagement initiatives are for the long term. We do not do anything as a one-off donation initiative. Our initiatives usually have a minimum 3-years term. For example, our program on eye health called Seeing is Believing started in Bangladesh and became the single largest global CSR initiative for the bank. It started in 2003 in Bangladesh with Islamia Hospital; and we are still working with them.

We have sponsored the school cricket for 15 years, we have been sponsoring the children’s library and British Council for about 17 years.

We define our community programs as “sustainability initiatives”.

We always have an exit strategy for the Sustainability initiatives.

Whenever we go into any community engagement initiative, we know that we will do it for a finite period. We don’t want the communities to depend on us; we work in such a way that we help build their skills, and so when we exit, they are able to carry on the initiatives by themselves.

That is the key principle of any community engagement that we do.

What are the mantras of effective communication with customers in the age of social media marketing?

Today most of our audience on social media are youngsters and they consume media differently. Just in 5 years I would say what we consume, and the way we consume information and/or content is very different. Facebook has been there for quite a while; but mobiles/devices that help people consume data on the go, have been easily available for about 5 years or so. In this time, the channels of communication have also had to evolve. Because first and foremost, we see that the audience has a choice, and they decide how and when they will consume the content. The content format has to evolve because it has to be ready for the channel, has to be ready for devices and it has to be interesting enough for the people. Nowadays in the age of social media, it has to be short, fast, and dynamic. That’s the rule that I follow. Static photos don’t attract people anymore. Studies show that people have an attention span of 4 – 6 seconds now. So anything that I want to push as a communication, or even as an advertisement, has to be eye catching in less than 4 seconds.

We are going more and more for video content. Even if it is not video, it has to be animated content, where the visuals change. Facebook/ Youtube have become a very big channel for advertisers. In the past we would be advertising mostly on traditional media, and digital platforms would be usually the online platforms of these media .

Those channels are still very important today, but we need to customize our content for our audiences who are very restless, and who have a lot of choices. We have to devise our communication innovatively.

Has it ever occurred to you that your job is demanding and might end up making you choose anyone: either your family or your career?

My job is very demanding, so even my team members have to put in their best in their roles. In my role as Head of Corporate Affairs, Brand and Marketing, there are a lot of areas

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that we cover. So all internal and external communications, all media relations, handling relations with public officials such as Ministries or other regulatory bodies – are handled by my team. CSR, all brands, all advertisements, and all marketing activities are also handled by my team.

It's a lot of things to do every day, but it is a fun role as well. I enjoy my job, I love the variety and innovation it offers. All sponsorships and donations also have to go through us. What happens is every day we try to find something new to do, that’s how we grow. On the communications front, we need to constantly think about what we can do more when we are engaging with media, what can we do in terms of new client events, client experiences, what can we offer that’s new to the market - all of these constantly push us to think out of the box.

So every day is new. I haven’t felt bored for a single day in all the years I’ve been in this role. We have to be self-driven.

Each of us have to be passionate for this, because without passion you cannot do this sort of role. You have to be passionate about CSR if we are doing community engagement, you have to know how the education opportunity we’re providing to an underprivileged child is changing his/her life. And you have to believe in that difference we are making and you want to have to do that day in and day out.

What is the one key advice you have for new entrants aspiring to build a career in the banking sector?

Interestingly, within Standard Chartered, more than seventy percent of our staff are millennials, people born between 1980-1996. Their

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way of life, priorities in life are different, but they are our future leaders. So we also have to evolve as an organization, because our customers/clients are also that age.

As a bank we will not remain relevant if we only stay focused for the older generation.

In Singapore for example, we have branches that look like cafes. It’s a next generation banking system, so maybe we will also have to evolve.

But most importantly, some things need to be strictly maintained. The biggest message to anyone who wants to build a career in a bank is first and foremost banking is dependent on trust. The key element in banking is trust. Our clients place their most important assets- their money, life’s savings- with us.

Building and maintaining trust is the first and foremost criteria to be a good banker.

A banker has to be reliable and responsive.There is something called Personal Brand Equity; it is how I am perceived if I was a brand - am I known to be trustworthy, reliable, and honest? That is extremely important, also whether I am giving you the right information, how prepared I am to answer your queries, overall, what are my work ethics. All of this together makes up my personal brand equity. This is true for all other sectors as well, but for banking it is definitely very important. Because you represent the bank, and if somebody doesn’t feel confident talking to you, I don’t think that person will have too much confidence in the bank. Banking is all about relationships.

Secondly, you have to continuously learn as banking is evolving very fast. Online banking is the next step, so we are doing a lot with our ‘apps’.

SC Mobile App was launched four years back, and it is one of the finest banking apps in the country. To learn, I would request anybody in the

We need to customize our content for our audiences who are very restless, and who have a lot of choices.

We have to devise our communication innovatively.

banking sector to move around in the bank, work in different departments.

Banking is technical, it is complex.

So you have to learn the majority aspect of the bank, if you want to be CEO one day. The best thing is to invest in yourself, learn different aspects of banking, and take a risk.

Learn and grow.

Third is ‘Patience’. New entrants are mostly millennials, and they need to remember that in order to move and grow in the bank you have to give it time. As we move onto different aspects of banking it becomes more complex. With mobile apps, there is a lot of risk involved; cyber security is a very big risk. This is a new risk added to banking which wasn’t there 10 years ago. We have to keep up.

The user interface might be simpler for banking, people are finding banking simpler. But at the bank we have to constantly learn ourselves.

So we have to invest time in finding the right processes, learning it and also investing in ourselves, building our network, and then growing in the career.

Standard Chartered is a foreign bank, we are registered in the UK, but I think it is more local than any other banks. The leadership is all Bangladeshi out of 2200 people. We invest in our people, we want them to grow, and we also have a lot of focus on diversity. So we are investing in women to bring them up the curve, give them a smoother career to help them learn faster than the male colleagues if needed, and grow in their career. We are also hiring people with disabilities, as part of our Diversity agenda. We don’t compromise on hiring standards. A fully-abled person and a differently-abled person will get the same opportunity if they have the same skill set. We have recently hired 20 people with disabilities in various functions. Overall I think in Bangladesh, Standard Chartered has had an incredible 115 years and we look forward to many more in the future. We have invested heavily in Bangladesh because we believe in the immense potential of the country.

We believe Bangladesh is going to grow very fast in the coming decade; and just like we have been a partner in progress all these years, we will be there in the forefront, partnering in the development of Bangladesh.

Public Relations

Connecting All the Dots Impact PR has been making groundbreaking strides for going on 15 years. Helming the country’s first PR firm, Sabrina Zaman elucidates the need to establish an industry for a more effective PR permeation in the collective consciousness.

Why do you think Bangladeshi companies are increasingly leaning towards PR firms in a magnitude never seen in the past?

To be precise, speaking strictly about Bangladeshi companies are still not ready. Whenever we are approached by Bangladeshi companies, it is mostly because they require crisis management.

When it comes to crisis management, Bangladesh companies are able to understand the magnitude of the media, the impact of the media. Apart from that, the idea of PR firms as a support system in the business model has not been realized. Most of our clients are retailer based, so whether they need PR support or not, they retain the services - like how you would with a lawyer.

You can’t jump into somebody’s business and start designing PR strategies and crisis contingency plans. It doesn’t work like that. For example, if I am servicing a telecom company, I have to be well versed with the industry first and have an all-round and in-depth understanding of the industry. It helps PR

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By Marjiya Baktyer Ahmed

firms like us to do our due diligence if the client understands our need to for full scale comprehension of their operations. It allows us to be consistent in the media and to our stakeholders as well. This fact escapes most Bangladeshi companies even today. It is crucial to establish and sustain trust, because we are not here for the short haul. We are here for the long haul.

In regards to MNCs, yes there has been a huge change in the last 5-6 years. There has been a massive change and it has dawned on them that there is indeed a market for PR firms. There are services you can get out of PR that are very beautiful, and which cannot be done in any other way. MNCs are realizing that PR is important in the Bangladeshi market.

What do you think helped permeate the importance of PR in the minds of Bangladeshi consumers today?

Awareness really drove the inception. Media has become more vigilant in many ways when it comes to tending to customer desires and demands. The market is also growing, disposable income is growing, the middle class is solvent and this is reflected in the consumer market. The emerging middle class is pretty well educated.

However, when you look at our political scenario, the efforts are usually made to tailor messages for the grassroots, but even the grassroots level is becoming more aware. They are also looking for better options - the option that will allow them to secure a settled livelihood and three proper meals a day. When the mass population’s awareness grows, PR is ripe for the taking, because people are actually focusing on the media (TV/print media/radio/social media) to observe the kind of messaging being run. PR is less expensive and more effective.

Sabrina Zaman

Chief Executive (CE) Impact PR

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In the past entities seeking PR services usually went to foreign PR firms; do you think local firms like yours have the edge over them?

We have been doing PR in the Bangladesh market for the last 15 years. We have established a rapport with the Bangladesh market as such that international PR firms will not be able to match up to. As Impact PR, if we go to the Indian market, the British market, we won’t be able to survive, because PR operations more often than not stick to local experiences. Practising PR is all about networks, it is all about your local market, how people are talking, how the media is engaging. The experience you need to understand these facets of PR didn’t happen overnight. I couldn’t have listed the necessities of PR if I were asked back in 2005, but because we have practised PR in the Bangladesh market, our experience makes us the best in the market.

What has been the most effective medium to engage with (clients/customers) in Bangladesh?

As we say, the media is the battlefield of everything that happens in the country, because that’s where the conversations actually start. The media platforms have evolved - from TV, to print and now consumers and companies alike lean towards online platforms and social media is playing a very big role in reaching out to customers. Impact PR uses all these tools in their PR initiatives.

What has your role as the Chief Executive (CE) of Impact PR taught you about leadership?

I am a natural leader. I have

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always led, be it in school, in college and even in university. I joined Impact PR as the Account Director. I used to look after all the monetary aspects and manage them and also coordinate. Some people are born creative, and while I work with content myself, I wouldn’t consider myself a creative, but I like leading. I have been leading Impact PR for 13 years and running, and my team consists of hardworking, dedicated and passionate individuals who are a pleasure to lead.

What is your vision for Impact PR in a decade from now? Are there any personal goals you want to achieve?

Whenever we discuss the future of Impact PR, we deliberate that a PR industry needs to grow. There is no PR industry as such in Bangladesh, because in the greater scheme of things, we are still infants. The oldest PR company – us – is only 15 years old. Whenever we work with clients, we work with industries. A decade from now, the goal should be to establish an industry and be able to say that Impact PR has been in the forefront of leading the helm. When we first launched, we reached out to all the advertising media agencies in Bangladesh and they initially discouraged us because there was no sign of a PR industry. But nowadays, you get to see a creative agency, an advertising agency and a PR agency side by side. We have been able to give PR a trajectory and have been successful in making it a priority.

The next phase is having an industry, where competition will be healthier, and market prices will be stable and consistent.

Speaking on the personal front. In another decade, I want to retire and

We are evolving every day, and doing new things every day which is something we are very proud of, and we hope to continue this momentum well into the future.

travel. Travelling makes up most of my bucket list. Initially when Facebook started, they had this map and it allowed you to log in the places you had traveled to. According to Facebook, I have seen 6.5% of the world. I want to travel and spend my money.

Closing Statement: The disheartening fact is there is still not a budget allocated for PR. PR firms need to push their services and have a positive foothold. Also we need extensive training to impart the importance and know-how of PR. All of us here at Impact PR began as fresh graduates. Sometimes it becomes difficult to find Managers.

Sometimes we joke that it should have been called Impact PR School, because more often than not we have instilled skills in completely inexperienced individuals. These individuals have then gone on to find better opportunities and climb the career ladder with the skills learned from Impact PR. There is a sense of achievement in that, but also a sense of loss because we have to repeat the process with yet another inexperienced, untrained recruit.

Given that all of the agencies work in their set pattern, it can become difficult to replenish lost skills.

Impact PR’s advantage in having an early start is that it has allowed us to become seasoned. If you asked me 6 years back to explain PR, I would have said it is a culmination of press releases, article writing and interviews. But, today I can tell you that PR is an organic process which relies on strategies designed for a substantial period which envisions where the client endeavors to reach in a given timeframe. PR work is challenging and exciting, and you have to be willing to roll with the punches in order to grow. In Bangladesh we are one of the first and oldest firms, and we learn something every day. Our clients come and present us with situations that really get our brain juices flowing and for that I want to thank them. If it wasn’t for the support and confidence of my clients, it would have been difficult to evolve. We are evolving every day, and doing new things every day which is something we are very proud of, and we hope to continue this momentum well into the future.

Activism Branding

THE HUMANE SIDE OF BRANDS

By Farhat Zishan

Standing together in time of the Coronavirus crisis

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Brands have always been more than a logo, a text or a set of colors. Rather they have been the physical accumulation of a concept, an ‘almost’ living, breathing, an omnipresent symbol of a distinctive philosophy. People not only buy products with a distinct brand identity but rather associate themselves with it; forming an evergreen bond and becoming part of a tribe bound by their take towards life. Apple aficionados are drawn towards minimalistic, sleek-designed technology products; while Harley Davidson bikers have carved a lifestyle for themselves.

With changing times, brands have escalated to pedestals and now stand for things that are bigger than themselves. They have purposes of their own. They are not only mere tools to yield revenue and increase market growth, but rather are voices that used to raise concerns and provoke people to take action on certain issues. This is best proved in this critical time of the coronavirus pandemic. While countless people are being affected all across the globe and national economies are toppling over – these brands – regardless of which industry they operate on – are offering whatever they can to stand beside their beloved customers. Let’s take a look at a few examples –

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same time, he said the company will block ads that try to exploit the situation, such as those that claim a product has a miracle cure for the Covid-19 disease. Other similar apps and technology platforms like Youtube, Tiktok, Twitter have joined the cause to tackle misinformation and fake news regarding coronavirus.

The world’s leading search engine has been a step ahead in terms of ensuring employee wellness. For starters, they have formed a COVID-19 fund that enables all of their temporary staff and vendors to take leave in case they develop symptoms of coronavirus. But as companies all across the globe started to adopt work-from-home policies to prevent this virus from spreading, Google came to everyone’s help once again by giving every G-Suite customer access to Google’s video conferencing service – Hangouts Meet. This, in particular, has tremendously helped the small business owners and as well as startups, since many of them do not have access to expensive video conferencing software.

Social media companies, including Facebook, have a huge role to play in times like this – tackling the array of misinformation. From fake cures to cases of false testing methods, many intend to spread news like these for their ill-interests. The platform has recently stated that it was removing conspiracy theories related to the coronavirus that has been flagged by global health organizations, in addition to labeling coronavirus misinformation with “fact check” labels to let users know that such content had been rated false.

Facebook CEO Mark Zuckerberg also said that Facebook is providing the World Health Organization (WHO) “as many free ads as they need.” At the

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LinkedIn, the world’s largest social network for professionals is also doing its fair share of work to tackle the coronavirus outbreak. The platform has redesigned its feed, creating a new Trending News element, to highlight reliable updates from experts, including the World Health Organization and the Center for Disease Control and Prevention. As if it was not enough, they have given full access to 16 of their courses.

These courses primarily focus on strategies and practices that workers should adopt while working from home. Staying true to their brand essence, LinkedIn has provided every professional with tools that will empower them to sustain their productivity in this critical time.

LinkedIn authorities have stated that it will continue to evolve its approach in-step to ensure that it is keeping its members informed and facilitating optimal platform use.

While social distancing and home quarantine have pushed us far away from each other, Starbucks, the brand which believes in the power of ‘coffee and community’ has also taken a stand to help its customers. The global coffee chain has halted in-store

customer seating in North America for at least two weeks, while limiting hours and shuttering a few shops in high traffic areas, in a bid to help reduce the spreading of the coronavirus. Rossann Williams, a senior management representative at Starbucks recently stated that the company has adopted a ‘to-go’ model, temporarily curtailing the use of the lounge-like common areas — both inside and outdoors — where customers frequently linger to talk, surf the Internet or work on laptops.

Meanwhile, stores will also have a modified condiment bar where items are available upon request. Customers can still order in-person inside cafés or use the Mobile Order & Pay to offer, and drive-thrus and delivery will remain open as well. As for exchanging cash, a designated partner will handle those transactions and be allowed to wear gloves.

But the company is not only looking after their customers but have laid out a detailed plan for their partners (i.e. employees) as well. The global coffee chain has realized that isolation can spark mental illness in many and has, therefore, decided to fight against it by extending their mental health benefits. In partnership with Lyra Health, Starbucks is offering its partners personalized, confidential mental health care, 20 free in-person or video sessions every year for partners and each of their eligible family members, online scheduling with most providers available within two weeks, and access to a provider network of mental health therapists and coaches.

At the wake of coronavirus, Microsoft has decided not to stop the remuneration of its workers who are on hourly payroll.

Moreover, this gesture has been extended to all of their vendors; regardless of whether their full-time service is required or not. Coincidentally, Microsoft founder Bill Gates has also stepped down from the Microsoft Board to focus on his philanthropic efforts.

Adobe is well-known for its wide array of creative tools, like Photoshop, Illustrator, and InDesign. While schools are locked down, the studies and academic routines have already been disrupted. Adobe has come up with a solution to combat this, by enabling temporary “at-home” access to their Creative Cloud apps. This will be highly beneficial for their K-12 institutional customers. This humanitarian service has been opened on a global scale and is set to be open until May 2020.

While many of the technology companies have taken rapid measures, it is quite unexpected to see a luxury goods brand step forward in this severe situation.

But LMVH, the parent company of Louis Vuitton, has defied the odds. LMVH has its humble origins in France, which has faced one of the most devastating situations during the coronavirus endemic – with a staggering number of death tolls. Hence, the company will use its perfume production lines to start making hand sanitizer to protect people against the coronavirus attack.

The factories, which are normally used to produce perfume and makeup for luxury brands like Christian Dior and Givenchy, are now being used to produce large quantities of hand sanitizers. The company mentioned in an official statement that “LVMH will continue to honor this commitment for as long as necessary, in connection with the French health authorities”.

The results showed that 62% of customers want companies to take a stand on current and broadly relevant issues like sustainability, transparency or fair employment practices.

Global consulting company Accenture conducted a detailed study named 14th Annual Global Consumer Pulse Research in 2018. The results showed that 62% of customers want companies to take a stand on current and broadly relevant issues like sustainability, transparency or fair employment practices. In this time of a global crisis, companies standing up against coronavirus indeed highlights the humane side of brands; as valiant efforts are taken from their standpoints to ensure a safer, healthier world. At the end of the day, these brands have all been created by humans and therefore nurture the essence of the human soul. www.ibtbd.net

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Innovation

With the help of powerful analytical tools, companies are slowly starting to make sense of big data. At present brands are at the forefront of the digital revolution, and they have learned how to make the best use of it.

Branding in the Age of

Big Data

By Asif Tarafdar

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The time of spreadsheets is over a Google search, a passport scan, a barcode reading in a supermarket, your online shopping history and a tweet, all of these contain data that can be collected, analysed and monetised. Supercomputers are making it possible for companies to use this information and figure out what computers want in real-time. In less than a decade, CPUs are expected to possess the processing power similar to the human brain. According to a survey done by the global agenda council on the future of software and society, people expect artificial intelligence machines to be part of a company's board of directors by 2026. There is a good chance that in fifteen years, your job is going to be performed by computers since decisions once based on experience and intuition will be made through machine analysis of massive amounts of data. Big data analysis will reveal patterns and connections that will vastly improve the most human activities and increase the effectiveness of our decisions.

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A Sea of Information If you haven't been living under a rock, then chances are you have already heard about big data. There is no hiding from the industry's favourite buzzword right now. The problem is, it has been misinformed and misinterpreted more than any new concept out there. Big Data an extensive collection of information. The collection is so large and complex that it becomes impossible for traditional data management tools to process. The overall internet usage across the world has grown exponentially over the past decade, which resulted in the accumulation of the amount of data previously unheard of. Every mail that you send, each like and share on Facebook, every picture that you upload is new information that is generated. The information generated by you is not only limited to your social media activities, but it also includes the websites you search and products that you browse in e-commerce websites. Big data also consists of the information created by Airline flights across the world, weather updates and patient data in hospitals. The magnitude of the data which is created every day is astonishing. Every two days, we create as much information as we did from the beginning of time to 2003. It is expected that by 2020 the total digital information that will be in existence will amount to 40 zettabytes. If all the data created in just one day is burned onto DVDs, the stack of DVDs would reach the moon twice. A large portion of this enormous database is created on social media sites. Every minute, we generate 1.8 million likes and upload 200 thousand photos on Facebook. Facebook users share 30 billion pieces of content every day. It would take a person 15 years to watch every video uploaded by users in a single day. At present, all the data centres around the world make up an area of about 6000 football fields. The numbers are overwhelming, literally. The amount of data is so enormous, that whoever is in the procession of it often fails to make meaningful conclusions about any individual. That doesn't mean there is no one capable of harnessing its power. With the help of powerful analytical tools, companies are slowly starting to make sense of big data. At present brands are at the forefront of the digital revolution, and they have learned how to make the best use of it.

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Capitalising on Analytics

By now, most brands have realised how important big data is to remain relevant in the market. As competition gets stiffer, brands are looking to use data to edge past their rivals. The main focus of any brand remains the same, market the wants of customers. Big data empowers them to know exactly what their customers want. It has allowed brands to become more predictive rather than reactive to consumer trends. Big data has also enabled brands to take product personalisation to a new height.

Computer-generated data helps companies to understand consumer behaviour on a level unimaginable in the past.

Amazon Fresh and Whole Foods is the latest example of how big data is changing product development. Being the biggest retailer in America, Amazon already has consumer data of the entire country. They analyse this data to understand how people make grocery shopping decisions and how the suppliers interact with grocers. This data gives insights whenever there is a need to implement further changes.

Big Data and Bangladesh

An increasing number of Bangladeshi brands are incorporating big data in their operations. Perhaps, the most significant and most frequent users of big data in Bangladesh are the mobile phone companies.

Their campaigns and promotions are designed based on past usage data. The highly personalised package offers points to increased use of personal customer data, which are created by analysing big data. Big data is used to understand smaller segments of the population like the Upazilas and Union Parishads. The telecom companies make sure our offers meet the needs of the consumer at the time the sale is made.

Every time a consumer reaches a

retailer to recharge the phone, based on the consumer's profile, an offer is immediately sent to the user. Therefore, it allows the companies to modify the offers that consumers get almost in real-time.

The Way Forward

It is time to address the elephant in the room, Privacy. Big data is definitely helping brands, but how much is it helping consumers? Are the privacy risks just too much to let go of the benefits? Let's start with when big data becomes a problem. The websites that collect data about customers are in possession of a massive amount of personal data that they can store indefinitely. So, there is a possibility that your embarrassing pictures from 2008 will live on in the depths of Facebook servers forever. This puts your entire internet history in danger of falling into the hands of any nefarious character. Even if you are not involved in anything illegal or remotely unethical, you will not be thrilled if some shady entity puts every piece of information about you online. On the other hand, big data—and the companies doing business out of managing it—are paving the way towards some great innovations in science, technology, and medicine. The brands are using big data to design products that make our lives significantly better. Big data has made existing products more effective and promises to revolutionise the consumer experience. It is a powerful tool that can change the individual experiences of different products in the future. Right now, there is only one aspect of big data that needs to be sorted out, control.

The lack of control we have on our online data and the amount of control big corporations have over them. There needs to be an international consensus about how much and how long companies can store our personal data and in what capacity they can use them.

Campaigning Champions

Embarking the global sphere

By Ru b a b Na ye e m K h a n

A look at the South-Asian brands that are making a mark in the international markets n the day and age of globalization, new media, e-commerce and a market that always seeks more, many South-Asian brands have garnered fame and fortune beyond their home countries. From household items to apps to snacks, many businesses

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mushroomed in times that were primitive; and many of these flourished with limited resources.

Rising from a history of war and partition, countries like Bangladesh, India and Pakistan, have been able to make it big, even out of small situations and ventures. And today, many of their brands speak volumes of their contributions in both the local and foreign markets. We look at a few brands, that have paved the way for these countries, thus making buyers, sellers and stakeholders cognizant of their abilities.

Bangladesh

PRAN-RFL Group

When it comes to household products, PRAN-RFL Group is a name that is revered in the market for 40 years. From producing jams and jellies to pumps, plastic and even tupperware, PRAN-RFL has a wide range of products under its belt. It is one of the largest conglomerates that has a booming consumer base both locally and internationally.

Late Major General Amjad Khan Chowdhury in 1981, started RFL with a small business named Rangpur Foundry Ltd (RFL) which specialised in making irrigation pumps, solely focusing on water solutions such as making irrigation pumps to ensure pure water and affordable instruments that will help improve rural life.

What started out small, soon began to expand, leading Chowdhury to introduce more products under his brand. And soon, RFL started supplying a variety of products such as pumps, tube-wells, and gas stoves, under its wing. This shift

eventually gained them the title of being the largest cast iron foundry and light-engineering workshop in Bangladesh.

Its agro-based product entity Pran, came to being, after he leased six acres of land in Narsingdi, to cultivate fruits such as papaya, banana, pineapple and other crops.

Seeing the potential and scope of the agriculture sector, Chowdhury felt that the way to make it more lucrative was to increase the shelf life of fresh produce. Eventually this vision helped him establish his agro-processing business Pran in 1991. Hence, it didn’t take Pran long to reach the international market; just five years after its establishment, the brand made its maiden export to France in 1996 starting with canned pineapples and as per 2016 reports, Pran exports to 130 countries, reached about 300 million customers.

Among its many remarkable investments, Pran promoted contract farming, which roped in contracts with 100,000 farmers countrywide. It has given back immensely both agro-processors and farmers, by ensuring a link between the latter and the former.

This is the kind of mediation that helps businesses especially the agriculture sector to thrive.

Additionally, Chowdhury also wanted to dabble in the dairy sector, seeing that the sector was struggling. As a result, Pran Dairy made substantial investments in the sub-sector so that farmers can increase the productivity of animals, which in turn will help them produce more milk. The company has changed the lives of

many, by employing 84,000 people directly and 200,000 indirectly. As a result, their businesses were able to create job opportunities for 15 lakh people.

Between 2013-2014, the brand exported products worth $150 million, according to company data.

And their products are available in chains like D-Mart (India), Wilkinson (UK), Dollarama (Canada), Carrefour (France) and ECI (Spain). In 2016, the company had expressed in a news report, that they intend to increase their export by at least 30-40 percent every year and are also exploring new products. This includes products like frozen foods, sweets, poultry, nuts, toys, long-life cake and plastic. In that year, reports also found that the company's exports, which started off with puffed rice and chanachur several years ago, stood at $184 million (equivalent to Tk 1,443 crore) last fiscal year.

Over the years, Pran became a recognised name in homes, televisions, billboards and throughout all and every media. Its popularity has landed it ad endorsements with popular local and international media personalities such as Mashrafe Bin Mortaza, and the most recent one being Indian actress Sonakshi Sinha.

The rising demand of household goods continues to challenge Pran to expand its line of products. At the moment their food and plastic (RFL) each has a product line about 800 items specialising in agriculture, household, sanitary utilities, kitchenware, bedding and mattresses, building materials, engineering utilities, lubricants, shoes and various others. It is indeed admirable to see the heights this brand has reached; that too from a small business of irrigation pumps. www.ibtbd.net

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Pathao

Pathao’s rise to fame was instantaneous within a few years in Bangladesh. In a span of five years, the app that had initially started out as a ride-sharing platform soon became our go-to app for delivery services and car rides. The app was founded by CEO Hussain M Elius, Shifat Adnan and Fahim Saleh. In its primitive state, it operated through a private Facebook group, where passengers would call for ride sharing services and Elius would manually dispatch riders to help people commute through the city. Apart from Dhaka, Pathao’s services are available in Chittagong and Sylhet; the brand has also made its mark in Kathmandu in Nepal.

At the beginning, the team wanted to see if there was a demand for this kind of service; and the overwhelming responses from people answered the questions for Elius and his team. The company started their services in the middle of 2016, signing up more than 100,000 drivers and 1 million users across the country by March. Not only have they registered 50,000 bikes under its platform but they’ve also been valued over $100 million since April 2018. Just five months down the line, Pathao launched its services in Nepal. In an exclusive interview with CNBC two years ago, Elius had explained that the range of services under the app included bike sharing and car rides as well as food and parcel delivery.

Although the app has gained

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popularity for its bike sharing services, Elius had also mentioned that food is another area that they’re also thriving in, even though it had just kick started in January 2018, deeming them number one in the food market.

With transactions only being cash based, making payments can sometimes become challenging for those of us who may not have cash in hand. To put an end to our dilemmas, Pathao created the scope for e-transactions. For that, they have decided to launch their own wallet that will allow riders to pay for services on Pathao electronically. Having started just three years ago with only 100 bikes in 2016, Pathao is on its way to further expansion. With a loyal customer base, the app with its services managed to scale up really fast primarily because there were no other motorcycle taxis in Bangladesh. Given that Dhaka is a densely populated city of 18 million people. Those of us who commute day in and day out, the commute can be fairly exhausting if you’re trying to get from one end of the city to the other. Seeing that our city is destined to suffer the consequences of stagnant traffic, this app comes as a lifesaver, and for Pathao, the market certainly seems lucrative.

Creating an ecosystem in a country that is heavily dependent on cars, buses, rattling CNGs or even rickshaws as a means of transportation is cumbersome. But Pathao has managed to be efficient, while factoring in the many challenges of the society and the roads. From the platform, the company was able to deduce the demands of not just customers but drivers as well. It also helped create employment opportunities for many drivers as well. Riders registered on the Pathao app make more money compared to other jobs; hence their needs are as much as their responsibility to their passengers. But prior to

The company started their services in the middle of 2016, signing up more than 100,000 drivers and 1 million users across the country by March. Not only have they registered 50,000 bikes under its platform but they’ve also been valued over $100 million since April 2018. recruitment, Pathao does a few checks before taking riders on board; first and foremost is if they are capable of driving or not. They are also given training on safety and security, and also given tutorials on how to use the app.

Additionally they are also familiarised with the code of conduct, so that they are fully aware of how to behave with a customer. Among other features that the app has provided for rider’s safety is the access to rider’s information, and the ability to share it in case they felt at risk.

This way, passengers can be tracked when they’re on their way. Other options include mentioning the 999 number where passengers can call and make complaints.

Although started in 2016, Pathao has had a fast growth; because of which they are always on their toes to ensure quality services. As a local brand that provides not just one service, but many others without having to physically walk to a destination, or go to a restaurant, makes life in the urban jungle a lot less hassle-free.

India

Haldiram’s

When someone returns from India and brings back a box of Haldiram's confections, it feels no less than a gift. Started in 1918, this 79-year-old brand of potato chips, sweets and snacks brand was the brainchild of Ganga Bhishen Agarwal, who also went by the name 'Haldiram' in Bikaner, Rajasthan.

Who knew that a snack shop that started with sweets and namkeen could rope in the riches for India?

Generating close to a whopping Rs 5,532 crore ($780 million) in annual revenues by selling over 400 products, their sweets, cookies, papads, sherbets, pickles as well as traditional snacks and savoury items, have garnered popularity in many regions of India and overseas.

Expansion for Haldiram’s began through a manufacturing plant in Kolkata. Eventually, with its popularity and consistency, Haldiram was able to establish more manufacturing plants based out in Delhi, Nagpur, Rudrapur, Gurgaon and Noida, the household business Haldiram’s, has retail chain stores along with a range of restaurants in Nagpur, Kolkata, Noida and Delhi. A news on Financial Express stated in February this year, that Haldiram’s sales have skyrocketed, resulting in sales above USD 1 billion- which is almost double of the local McDonald’s franchise. Armed with this achievement, Haldiram’s is not afraid to apply for an IPO, moving forward.

Their current plans however include expanding their portfolio by introducing frozen foods to their customers.

This has been received well by the export market as frozen foods are items which have a large fan

following, particularly among families. Apart from being a prominent name in the local market, Haldiram’s has put itself on the map in 80 countries, including Germany, United States, Sri Lanka, United Arab Emirates, Australia, New Zealand, Canada as well as Japan. Reports in 2019 stated that Haldiram’s had made its way into the US e-commerce market through Amazon’s Global Selling Program. The move is said to help them penetrate into the US market and further expand their global customer base. Since the US market happens to have a large global market, 40 percent of Haldiram’s revenues come from offline exports.

Furthermore, Haldiram’s also has US FDA approved selection with customised packaging, all of which have been implemented by Amazon US. While Ganga Kishan was the founder of what is now recognised as Haldiram’s; the height at which it stands today is because of his grandson Shiv Kishan Agarwal who helped carry the legacy forward.

Because of which, Haldiram is recognised as the 55th trusted brand in India as per Brand Trust Report.

Flipkart.com

Today we live in a world where many companies have emerged as startups; and Flipkart, an e-commerce platform based in India is no different.

Founded in 2007, by students of Indian Institute of Technology, Sachin Bansal and Binny Bansal with only Rs 6,500 as a startup fund, today the platform is lauded as one of the largest e-commerce identities in India. Prior to starting their own brand, both founders had launched a website focusing solely on sales of books with countrywide shipping.

Subsequently after its launch, the site rose to fame upon receiving 100 orders per day.

Two years down the line, Flipkart was able to acquire the Bangalore based social book discovery service weRead from Lulu.com. From there, Flipkart’s journey moved forward to many more

acquisitions- from digital distributions such as Mime360.com, content library of Bollywood portal Chakpak to online electronic retailers, such as Letsbuy. With the growing demand of customers, Flipkart branched out with a wide range of services; and apparel became a part of this too. By 2014, Myntra, the online fashion retailer joined hands with Flipkart, for Rs 20 billion (USD 280 billion). From there on, Flipkart has had acquisitions and partnerships with renowned brands such as Motorola; at the time when Flipkart was marketing models such as Moto G and Moto E, the high demand of the phone subsequently after its launch in the market in May, caused Flipkart’s website to crash. In 2017, Flipkart held a 51 percent share of all Indian smartphone shipments, racing past Amazon India who was still lagging behind at 33 percent.

Among other brands that Flipkart has acquired is online fashion portal, Jabong.com. Additionally, the brand also has its own mobile payments service called PhonePe based on the Unified Payments Interface (UPI).

With an ever-growing market, Flipkart has managed to increase its product base, and with it, has increased its customer base. And in the emergence of Flipkart Global in 2017, sellers can export globally and also exercise the same retail e-commerce export capabilities brought in by eBay India.

Among other opportunities introduced

by Flipkart Global is allowing international buyers from over 35 global eBay platforms to get access to Flipkart’s vast list of products. This global program helps sellers across India to connect with 171 million active customers of eBay globally, reaching buyers based in the United States, UK, Germany, Canada and Australia. In 2019, Flipkart invested USD 4 million (Rs 29 crore) in customer engagement and rewards platform EasyRewards.

Additionally, the US retail chain Walmart acquired an 82% controlling stake in Flipkart for USD 16 billion valuing it at USD 20 billion. Currently, Flipkart has 30,000 employees and a revenue of Rs 43,615 (USD 6.1 billion) as of fiscal year 2019; among other achievements for that year would be signing a partnership with Authentic Brands to license and distribute Nautica in India. www.ibtbd.net

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Pakistan

Gul Ahmed Textiles Ltd

Entering the textile trade in the early 1900s, Gul Ahmed is a name that echoes in all of Pakistan. Their manufacturing wing Gul Ahmed Textile Mills Ltd, however, began in 1953. The company has made enough contributions in the market, which led to its listing in the Karachi Stock Exchange in 1970.

From there on, Gul Ahmed Textile Mills Ltd has made substantial progress in the field of textiles.

Currently, they have the capacity to hold more than 51, 840 spindles, 300 high-end weaving machines.

They also have other technologies such as modern yarn dyeing, processing and stitching units.

Making everything from cotton yarn to finished products also serve as one their unique selling points. Gul Ahmed also has its own captive power plant, which includes gas engines, gas and steam turbines as well as backup diesel engines. They are believers of ecologically friendly solutions, hence they’ve taken it upon themselves to set up a wastewater treatment plant to treat 100 percent of its effluent, thus bringing it to National Environment Quality Standards (NEQs) levels.

As a textile giant, Gul Ahmed plays an integral role in the retail

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business, leading to the opening of its flagship store “Ideas by Gul Ahmed.” What started out in Karachi has now stretched out across the country, resulting in an extensive chain of more than 40 retail stores, specialising in home accessories to fashion clothing.

With 50 years of expertise, Gul Ahmed as a brand is still going strong- both locally and internationally. Because of its quality, consistency, innovation and technology, the brand is overseeing subsidiary companies in UAE, UK and the United States. Its associations and trade bodies include All Pakistan Textile Mills Association, Karachi Chamber of Commerce & Industry, The Karachi Cotton Association, Pakistan Business Council, Employers’ Federation of Pakistan, Pakistan Textile Exporters Association, All Pakistan Textile Processing Mills Association, Pakistan Bedwear Exporters Association, Pakistan Hosiery Manufacturers & Exporters, Karachi Centre for Dispute Resolution, International Textile, Manufacturers Federation as well as Fellowship Fund for Pakistan.

Shan Foods (Pvt) Ltd

Majority of the Indian channels that we subscribe to often show numerous advertisements by Shan Foods. Introduced by Pakistani entrepreneur Sikandar Sultan in 1981, Shan Foods is one of the leading Pakistani producers of packaged spice mixes used by locals in Pakistan for foods as well as for other cuisines of the Indian Subcontinent. Since its establishment, Shan has been exporting to more than 50 countries; thus gaining them recognition as a popular household spice brand for traditional meals.

What was once a cottage industry soon made its way across the globe, exporting to Europe, United Kingdom, United States and the Middle East. Shan experienced rapid growth in 2000, particularly in the central and northern regions of Pakistan; by 2004 the brand made its official journey to the Indian market through a cooking competition in Delhi. Fast forward to 2008, Shan had gained popularity within Pakistan because of its quality brands being sold at reasonable prices. At the moment, the company exports to 65 countries across five continents, exporting recipe mixes, plain spices, salt, pastes, accompaniments, desserts, instant noodles as well as ready to eat items.

The aforementioned brands have propelled themselves to international heights through their dedication to innovation, diversification and a desire to add value to their consumers’ lives. In the changing landscape of a world reeling from the 4th Industrial Revolution, brands have to position themselves as such that they are able to leverage the tools and incept themselves into the hearts and minds of consumers to remain relevant in this VUCA world.

E-Commerce

Daraz 11:11

The Campaign that Breaks the Internet

By Tasmia Zumana

The One and Only 11:11

11.11 has set a new milestone in online shopping in Bangladesh.

Thousands of deals, million Tk discounts, new technology, super logistics support brought new customers into online shopping.

Last year’s 11:11 campaign brought almost 2 times the customer into the 11:11 campaign and sales spiked to nearly 4 times than that of 2018’s 11:11 campaign. Daraz brought remarkable sales figures in E-commerce history in Bangladesh- Gross Sales: Tk.127.9 crore, Gross Item:

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955,000, Unique Buyers: 343,000. Also, with better customer education, long term customer engagement helped to boost campaign performance in this short period. Daraz bought millions of new products with lucrative deals. The resounding success of the 2019 Daraz 11:11 campaign has ushered in a renewed sense of excitement, not just for Daraz, but for the ecommerce industry as a whole.

Currently, Daraz’s inventory boasts a whopping 10 million products as they gear up to bring even more exciting offers and deals for this year’s 11:11 campaign.

A Buddy to Brands

Being associated with the campaigns help create better synergy during the campaign period. The brands and Daraz work together to highlight the various offerings during the campaign period. Through the association, Daraz enables its partners to gain a lot of visibility through the various communications in earned, owned and paid media which includes TV, Radio, Online, Newsletters, On-site, etc. Hence the partners are able to reach out to millions of customers and

increase their brand awareness significantly. Not just that, through Daraz’s advanced tracking tools and attribution parameters developed by Alibaba group, they are able to provide detailed reports on the amount of visibility and engagement brands have received in each of the channels and how much business value it converted to in terms of sales through Daraz. As a result, the brands are able to see the exact return on investment through the partnership.

Carrying the Load

Answer: All of Daraz’s stakeholders, employees, sales, partners work in harmony to set the 11.11 campaign properly. During the campaign Daraz recruited 21 part-time collection point agents, 200 operators, 732 riders, 45 drivers, 300 customer service agents, and many more full-time executives in different departments such as marketing, commercial, operations and cross-border are also being hired to make this campaign successful.

Daraz’s logistic support team is well trained and well aware to follow contingency plans to serve best service to the customers. Daraz has its own delivery system - DEX to

fulfill on time delivery promises to the customers.

Sorting center, warehouse capacity is built in a way so that Daraz can hold huge order volume during the 11.11 campaign. Moreover, with 49 nationwide hubs, Daraz also offers 58 Collection Points in different points in Bangladesh where customers can pick their products without any shipping cost and which is also less time consuming. With a customer service center, fast delivery system, technological advancement, Daraz has proved itself more than capable of pulling off the 11.11 campaign very successfully.

A Promising Partnership

Brands that have partnered with Daraz for the 11:11 campaign have expressed an encouraging positivity.

Following the success of 2019’s campaign, most of these brand partners have divulged their interest to partake in the upcoming campaign as well. A lot of them have made year long plans and joint business plans (JBP) based on Daraz’s campaigns throughout the year.

Going Cashless for Cashbacks Major possible benefits of

using digital payments method are- customers don’t need to carry the cash along with them and this minimises the chance of losing or misplacing cash. Most e-commerce platforms offer various extra discounts and cashback offers through the digital payments transaction whereas cash purchase gets the regular discount.

Over the last few years Daraz has seen a potential growth in digital payments on e-commerce transactions. At first customers were comfortable to use cash on delivery payment methods while receiving the product first.

However, the scenario has changed now-a-days, where customers prefer digital payments for their convenience. As time progresses and trust increases and becomes more widespread, this risk perception will naturally decrease whereas security is still a major concern to the older generation.

These businesses also believe that customers that use these digital payment services are more reliable than those who use direct cash purchase on e-commerce. Currently younger generations are adopting digital payments transactions, with more people joining the cashless revolution everyday. Daraz has changed the shopping experience for consumers. While good old traditional brick and mortar edifices are timeless, e-commerce has ushered in a new era where consumers can participate in the frenzy of sales and discounts, while never having to leave the comfort of one's home.

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Economic Pulse

Tyger Tyger, Burning Bright Bangladesh seeks to grow through its export industry

By Nasirra Ahsan

Basics First

What is an export led growth strategy?

In matters of economic development, the last 40 or so years have been dominated by what has come to be known as export-led growth or if you want to sound impressive, you can describe it as export promotion strategies for industrialization.

Export-led growth occurs when a country seeks economic development by engaging in international trade.

A nation pursuing export-led growth seeks to expand its economy by

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producing goods for sale overseas.

Successfully executed, an export led growth strategy generates a flow of money from abroad that the country can then use to strengthen its domestic economy and raise living standards. While this strategy has helped some nations develop rapidly-China, for example-it does come with significant risks.

Should a country’s development strategy pay special attention to exports? After all, exports have nothing to do with satisfying their people’s basic needs, such as education, health care, housing, power, water, telecoms, security, the rule of law, and recreation. So why give precedence to satisfying the needs of distant foreign consumers?

That, in a nutshell, is what many opponents of free trade and economic

Bangladesh has set economic goals that are so big, its problems pale in comparison.

With goals of achieving middle income status by 2021, Bangladesh needs to ramp up their economic growth rate to double digits.

The country has been boasting growth rates of 7 percent for almost a decade now, with the World Bank and Asian Development Bank predicting 7.2 and 8.0 percent economic growth respectively for the current fiscal year.

This prompted Metropolitan Chamber of Commerce and Industry (MCCI), a leading trade body, to urge the government to focus more on an export led growth strategy.

globalization – as well as many on the right who believe that all industries should be treated equally – want to know. But there are no right answers to wrong questions. It is precisely because governments care about their own people that they should focus on exports.

Successfully executed, an export led growth strategy generates a flow of money from abroad that the country can then use to strengthen its domestic economy and raise living standards.

More From MCCI

Outlining multiple challenges facing the country on business and fiscal fronts, the MCCI, suggested that the government take steps to overcome those and help achieve the desired economic growth. Blaming the global economy, in its October-December economic review, the chamber said most local economic indicators were ‘facing an uncomfortable ride’.

Figures such as remittances, inflation, foreign exchange reserves fared well in December 2019.

The same couldn’t be said for the local business sectors which recorded one of the slowest growth rates in recent times owing to the shaky condition of the banking sector.

According to the MCCI, the challenges that need to be addressed properly are inflationary pressure, slower growth in export and import, shortfall in tax collection. Slow private-sector credit growth, a fall in the key indexes of the capital market, lack of investors' confidence and a lower rate of foreign investment are among other challenges listed by the MCCI. They went on to say that Infrastructure deficits and gas and power supply problems along with faulty transmission capacity have also been undermining the performance of all productive sectors of the economy.

Export Sectors in Bangladesh Bangladesh earned $3.52 billion in December, 2019 which was $3.43 billion in December, 2018 in export earnings. The nation's exports earnings have risen by 2.89% to $3.52 billion in last December, breaking the negative growth for the fourth consecutive months. According to Export Promotion Bureau data, Bangladesh earned $3.52 billion in December, 2019, up by 2.89%, which was $3.43 billion in December, 2018.

Export-led growth in Bangladesh has been largely fueled by an abundant supply of low-cost labor and duty-free access to the EU and US markets. In fact, out of the top 5 items that are exported from Bangladesh, apparel and knitwear items hold the top two positions, earning $18.9 billion and $17.7 billion respectively for the country in the year of 2018.

However, Bangladesh’s export earnings during July-December of the current fiscal year have registered a 5.84% negative growth to $19.30 billion, which was $20.50 billion in the same period of the previous fiscal year.

The apparel sector, which accounts for

84.21% of total exports, witnessed a 6.21% decline to $16.02 billion in the first half of the current fiscal year, which was $17.08 billion in the same period in 2018. As per the data, knitwear products earned $8.20 billion, down by 5.126%, which was $8.65 billion the previous year.

Although merchandise exports have grown rapidly over the years, the country has been slow in diversifying its export basket and export destinations. The country is highly dependent on readymade garments for export earnings. Bangladesh’s heavy reliance on the apparel sector for attaining target growth rates exposes the country to a number of external shocks. Therefore, price hikes of cotton may affect exports adversely thus making it hard to compete globally.

The readymade garments sector may also be affected by automation since the fourth industrial revolution is underway. Since the export basket as well as export destinations are highly concentrated there is a pressing need for diversification of both the export basket and export destinations.

Speaking of diversification, the footwear industry can also be a target for Bangladesh. With USD 626.57

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Bangladesh earned $3.52 billion in December, 2019 which was $3.43 billion in December, 2018 in export earnings million export performance, footwear was one of the top export sectors of Bangladesh in the 2018-19 fiscal year. As nearly 90 percent of raw materials needed for the footwear sector are available locally, the sector has the potential to be the next “Thrust Sector” after RMG. Low production cost is one of the driving factors that has been an advantage for the footwear industries since inception. Japan and Germany are the leading export destinations for this sector, Bangladesh also supplies leather goods and footwear to China, Italy, USA, UK, Sweden and Taiwan. Nevertheless, adoption of new and improved

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technologies, automation, skilled labor force, advancement of port facilities, maintaining compliance and quality, more emphasis on R&D should be taken if Bangladesh wants to reduce the overwhelming dependency on the RMG sector.

Call for Diversification

The lion's share of Bangladesh's export is limited to only 10 countries, leaving the country highly dependent on these markets in absence of initiatives to explore new destinations.

The ten countries imported over 71% or $28.89 billion of Bangladesh’s total exported goods in the just concluded fiscal year, with the United States of America taking the lead with 17% exports share.

According Export Promotion Bureau data, in the fiscal year 2018-19 Bangladesh earned $40.53 billion, of which $28.89 billion or 71.27% of the total exports came from the USA, Germany, the United Kingdom, Spain,

France, Italy, Canada, Japan, the Netherlands and Poland. Of the total amount, $25.53 billion came from the apparel goods.

Once, 65% of Bangladesh's total export was limited to the US, which is now 17%. While this is good news, exploring more markets to reduce dependency is the need of the times. Former BGMEA Vice President Faruque Hassan has repeatedly urged the government to seek bilateral trade agreement to avail duty-free market access to new counties such as the Russian Federation and South Africa.

To Sum It Up:

Fueling growth by expanding export and relying on an aggressive export strategy has paid off for many of the Asian Tiger countries. India, is another prime and upcoming example of that.

Bangladesh certainly has the capacity to pursue a similar strategy by investing in improving its infrastructure sector, stabilizing its banking sector and seeking to build trade relations with other upcoming nations. The benefits of such investment will surely be followed by the double digit growth rate that has been sought after by the government for a very long time.

EVENTS

Success through Synergy I want to start by thanking Bangladesh German Chamber of Commerce and Industries (BGCCI) for organising the event. It allows us the opportunity to discuss a critical issue, ease of doing business in Bangladesh.

Concurrently, people in our country are gearing up for celebrating Mujib Borsho, a momentous event for our nation. To commemorate the birth century of our Father of the Nation Bangabandhu Sheikh Mujibur Rahman, the period from 17 March 2020 to 17 March 2021 will be celebrated as "Mujib Year". It will be treated as an occasion to accelerate Bangladesh's prosperity and dignity further.

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At an event hosted by the Bangladesh German Chamber of Commerce and Industries (BGCCI), celebrating Mujib Borsho, M.A Mannan MP, Minister, Ministry of Planning explicates on the current state of Bangladesh's business environment, the significance of Mujib Borsho and the friendship between Bangladesh and Germany.

Acknowledging the Achievements

Bangladesh Investment Development Authority (BIDA) plays a pivotal role in investment matters. The government of Bangladesh firmly believes that the reformed and strengthened BIDA is now better equipped to further contribute to the case (Ease of Doing Business). There is a lot of pessimism around the current business environment of our country; I believe this assumption is unfair. According to the World Bank, our growth rate is somewhere around 8% which is amongst the highest in the world. Achieving such a stellar

growth rate would not have been possible without a robust business environment. I believe the assumption of our country having a poor business environment is unfair; all the current socio-economic indicators contradict such claims. Of course, there is room for improvement; as our country has graduated from the list of LDC(s) (Least Developing Countries), we must look to enhance our economic prospects.

A Robust Growth Strategy

Honourable Prime Minister, Sheikh Hasina looks at it from a holistic point of view. Ease of living is more important. If the standard of living is on par with the rest of the world; things like the business environment will fall in line. So, the government is dedicated to moving the country forward from every aspect of the socio-economic metric. In order to achieve the intended growth, we need to accomplish some milestones in terms of literacy, technology and

According to the World Bank, our growth rate is somewhere around 8% which is amongst the highest in the world. Achieving such a stellar growth rate would not have been possible without a robust business environment.

infrastructural development.

Establishing domestic connectivity through roads and highways, enhancing trade by enhancing port capacity is how our prime minister wants to take our country forward. By connecting the pieces, we will be able to realise our true potential, which has been laid dormant for centuries and will lead us to a path of growth never experienced before. So, it is not a question of being overconfident; it is about being realistic and having the right attitude. Most importantly, all the stakeholders, including BGCCI, can play a part in this transformation for a better tomorrow.

Empowering BIDA We have modified BIDA's structure and laws to make it more effective.

The government is also making reforms to ensure the regulations are compatible with the global business structure. However, the process has been slower than some of the stakeholder's convenience; we should look at it realistically. In a democratic country, there are some legal proceedings which can prove time-consuming but are obligatory subprograms of the government.

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Commemorating decades of Partnership Success through Stability

Although we have moved several notches up in the global ease of doing business index (Bangladesh advanced eight notches in global ease of doing business ranking to 168 out of 190 counties, according to a report of the World Bank), it can be further improved. If India can remain in the top 50s, there is no reason for us to lag at the back of the rankings. We are a more integrated and internally coherent society. With proper strategy and execution, we can achieve a better synergy between the interconnected segment of the economy. If the stability continues and we can sustain the pace of reforms, there will be drastic improvements in the aggregate business environment of the country.

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I thank BGCCI for asking us to be a part of this vital discussion, and hopefully, we will evaluate not only Bangladesh' business environment but also our friendship with Germany.

Germany has been our true friend for a long time and was one of the first countries in Europe to extend the hand of recognition after liberation. The German chancellor at the time Willy Brandt was one of our biggest supporters in the time of crisis. His unconditional support for impoverished nations has been exemplary in the history of humanity.

Establishing domestic connectivity through roads and highways, enhancing trade by enhancing port capacity is how our prime minister wants to take our country forward.

Looking Forward

Therefore, I am using this opportunity to pay my respect to Willy Brandt and other German nationals who have been with us through thick and thin.

Our friendship will grow stronger in future, already, Germany is our largest trading partner in Europe. It is a

win-win partnership for both countries. I am hoping more German entities will be interested in investing in Bangladesh and utilise our high growth rate and demographic dividend.

Capital Market BOURSE UPDATE

Fortnightly Report of DSE, 1st March To 15th March 2020 Top 10 securities by turnover value in Tk. Sl. Name of securities No. Monno Ceramic Industries Ltd. 1 Square Pharmaceuticals Ltd. 2 VFS Thread Dyeing Limited 3 Orion Pharma Ltd. 4 LafargeHolcim Bangladesh Limited.

5 Orion Infusion Ltd. 6 Grameenphone Ltd. 7 Far Chemical Industries Ltd. 8 Khulna Power Company Ltd. 9 10 Silva Pharmaceuticals Limited Top 10 securities by turnover in shares Sl. Name of securities No. Far Chemical Industries Ltd. 1 Ring Shine Textiles Limited 2 Central Pharmaceuticals Limited 3 Alif Manufacturing Company Ltd. 4 International Leasing and Financial Services Ltd. 5 VFS Thread Dyeing Limited 6 S. S. Steel Limited 7 Silva Pharmaceuticals Limited 8 Western Marine Shipyard Limited 9 10 Indo-Bangla Pharmaceuticals Limited

Category A A A A A A A A A A

Category A A B A B A A A A A

Top 10 gainer securities (based on closing price) Sl. No.

Name of securities

Category

1 2 3 4 5 6 7 8 9 10

Sea Pearl Beach Resort & Spa Limited Apex Spinning & Knitting Mills Limited Kohinoor Chemicals Company (Bangladesh) Ltd. Monno Ceramic Industries Ltd. International Leasing and Financial Services Ltd. Khulna Printing and Packaging Limited GlaxoSmithKline(GSK) Bangladesh Limited Aziz Pipes Ltd. Beacon Pharmaceuticals Ltd. ICB AMCL Sonali Bank Limited 1st Mutual Fund

B A A A B B A B B A

Top 10 loser securities (based on closing price) Sl. No. 1 2 3 4 5 6 7 8 9 10

Name of securities Emerald Oil Industries Limited Shepherd Industries Limited Fortune Shoes Limited Rangpur Dairy & Food Products Limited Agrani Insurance Co Ltd. Runner Automobiles Limited VFS Thread Dyeing Limited Standard Ceramic Industries Ltd. City General Insurance Co. Ltd. Global Insurance Co. Ltd.

Source: Dhaka Stock Exchange

Category Z A A B B A A B B B

Total Turnover in shares 5,002,925 6,689,331 37,272,014 24,272,093 24,464,414 12,097,104 3,463,378 73,016,734 15,124,428 36,340,909

Total Turnover Tk. in mn 1,732.31 1,227.05 1,051.87 1,017.36 991.65 968.20 895.52 811.96 755.59 733.80

% of Total Turnover Tk. 3.55 2.52 2.16 2.09 2.03 1.99 1.84 1.67 1.55 1.51

Total Turnover Tk. in mn 811.96 402.16 675.24 334.94 142.72 1,051.87 449.64 733.80 469.86 717.69

Total Turnover in shares 73,016,734 52,666,749 73,016,734 44,158,631 39,672,659 37,272,014 37,115,553 36,340,909 34,121,974 31,154,000

% of Total Turnover shares 3.60 2.60 3.60 2.18 1.96 1.84 1.83 1.79 1.68 1.54

Current Fortnight Closing Price 80.70 138.60 492.30 131.00 4.40 17.90 2,039.70 99.30 62.40 7.50

last Fortnight Closing Price 60.00 109.70 410.60 114.50 3.90 16.30 1,907.40 93.80 59.40 7.20

Current Fortnight Closing Price 9.40 15.10 15.80 11.60 17.50 46.00 22.00 308.10 13.20 13.90

last Fortnight Closing Price 13.40 21.30 22.10 16.20 24.20 63.60 30.40 425.60 18.20 19.00

change %

Turnover Tk. in mn

Daily Avg. Turnover Tk.in mn

34.50 26.34 19.90 14.41 12.82 9.82 6.94 5.86 5.05 4.17

588.09 159.52 314.09 1,732.31 142.72 592.30 318.30 210.26 679.06 34.99

53.46 14.50 28.55 157.48 12.97 53.85 28.94 19.11 61.73 3.18

change %

Turnover Tk. in mn

Daily Avg. Turnover Tk.in mn

29.85 29.11 28.51 28.40 27.69 27.67 27.63 27.61 27.47 26.84

11.76 245.56 420.81 342.96 41.82 124.80 1,051.87 342.03 42.26 25.88

1.07 22.32 38.26 31.18 3.80 11.35 95.62 31.09 3.84 2.35

Disclaimer: Dhaka Stock Exchange does not hold any responsibility for these date.

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Export Diversification

CRAFTING BETTER LIVES

By Paromita Datta and Plaban Ganguly

Reviving Hope Do you think you would be satisfied earning 1200 BDT a month?

I know the answer will be a resounding no. Living in a cosmopolitan world, we pay more than 1200 BDT for Netflix to enjoy watching thriller or romantic movies on the weekend over a cup of Kopi Luwak. We even pay much more than that for our internet to tweet about the environmental impact of using polyethene or posting a selfie with a newly bought floor mat made of jute.

But, unlike you and me, Azmira Khatun, a paralysed single mother

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from Rangpur, Bangladesh, is happy to earn 1200 BDT every month. Just a year back, the new mother was unemployed and struggling to make ends meet with her new born baby.

After the birth of her first child in 2017, Azmira’s lower right limb became paralysed, which resulted in her husband leaving her and battling for survival on her own. Neither did she have the education or skill to get a job in the nearby industries, nor the opportunity to do anything while staying at home. Being the daughter of a farmer, like many other women from the rural areas of Bangladesh, she could make jute braids and make a

few crafts using jute. What she used to make for her household, has now become her only earning source. She is now crafting floor mats for Monsura Jute Handicrafts, a small enterprise, located nearby her home. She works there on a production basis so that she can work from home as well. ‘Now, I have no regret being a single mother and raising my daughter. I am earning enough to support my family.

Working in a small jute enterprise nearby my home along with other women from my community, encourages me to continue my work and achieve further skills. Disability to me is just a mere word. My strong will

power to support my family financially is my strength’. When Azmira was telling me this I found something in her glittering eyes. It’s not all about making floor mats, but the hope of crafting a better life.

Diversifying for Sustainability The north-west area of the country can be considered as one of the most economically depressed areas having around 63.7%, 48.0%, 46.2% and 34.5 % people who live below the poverty line (2 USD/day) in Kurigram, Gaibandha, Rangpur, Lalmonirhat districts respectively (World bank, WFP, BBS, 2014).

Extremely poor women in the north-west Bangladesh are found to be engaged in off-farm (tailoring, weaving, agro-processing), other rural enterprises, and in the agriculture sector (FAO, 2011; CARE, 2015; Practical Action, 2016). This region is mainly characterized by an agro-based economy and poverty-ridden surplus low-cost labour. This means that there are many unemployed people and/or labour directly and indirectly and it becomes difficult for them to maintain their livelihood during off peak times in the year. This labour force can be utilised in many sectors and jute product manufacturing could be one of the promising sectors if appropriate training i.e. jute weaving, knitting, etc. can

To contribute to the economic development of one of the most economically depressed parts of the country with the potential of creating jobs for thousands of extreme poor and women (includes 2% PWD) in the Jute Textile and Light Engineering and related sectors, the project was designed on a business development approach to make it financially sustainable.

be provided. Women were commonly found to make homemade crafts in these areas. DFID Extreme Poverty Programme identified a strong need of professional job opportunities for the extreme poor households. Similarly, there should be avoidance of isolating the poor through a narrow, targeted intervention, to contribute to their integration within the wider economy and other wealth groups. The labour-intensive jute sector can play a role in this regard.

Jute, being the golden fiber for the country, historically has always played an important role in the country’s economy. The importance of the jute sector to the Bangladesh economy, in particular, cannot be overstated. It is a major cash crop for over three million small farm households, the largest industry, producing about one-third of manufacturing output, and the largest agricultural export commodity in Bangladesh. The livelihood of about 25 million people (almost one - fifth of the total population) is dependent on jute related activities in agriculture, domestic marketing, manufacturing and trade. At present, eco friendly products and services are in high demand all over the world. In recent years, the Bangladesh government has been trying to promote the jute industry and to restore its lost stature in the world market. Bangladesh’s resolution titled ‘Natural Plant Fibres and Sustainable Development’primary objective to promote jute, has been adopted by consensus in the plenary of the second committee of the 74th session of the United Nations General Assembly (UNGA). The resolution focused on jute and other natural fibres which are lesser known to the international community and reiterates that the promotion of those natural fibres would highly contribute to the achievement of the Sustainable Development Goals (SDGs). The www.ibtbd.net

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resolution will help address the environmental degradation and climate change issues (disadvantages of artificial fibres and the benefits of using natural fibres) by creating awareness globally. Through this, it is expected that it will pave a way for a stronger, effective and efficient global value chain for jute and other natural fibre products. It is also envisioned that if the demand for jute and jute products increases in the global market, Bangladesh’s jute growers and traders will get competitive prices.

A Golden Opportunity One of the major challenges for upscaling this industry is inadequacy of the skilled labour force. In the jute textile sector, the local industries mainly suffer due to unavailability of skilled weavers who can support export quality weaving. The problem of inadequate technological advancement and poor skill sets in jute processing and light engineering

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sector has been strongly emphasized in previous projects and studies on jute and light engineering by the Jute Research Institute, both in Bangladesh and India (BJRI, 2015; Ali, 2015; Daily Star, 2015; CRIJAF-India, 2013; CARE, 2016; Practical Action, 2006). One of the probable solutions to this challenge can be turning the poor rural women, currently working as labourers having an income of around 1.5 USD/day, into skilled jute weavers.

They can eventually fill the lack of skilled manpower in this particular sector. In this process, local, medium and small sized jute enterprises will be benefited the most. Most importantly, they will be able to meet the huge demand of jute products in the local market, making the sector more economically sustainable.

In Bangladesh, the jute sector can provide the second most significant area

for women empowerment after the garment sector as women participation in the Jute Diversified Products (JDP) sub-sector is substantial. Many women, mainly in rural areas and without any training, are directly involved with the production of craft items using jute as the main raw material. Besides, a significant part of the family labour is used in the jute cultivation especially in post-harvest activities i.e. retting, fibre extracting, washing and drying which is done by women. The present trend of production and promotion of JDPs is opening up new possibilities. Reviving the jute sector is creating additional employment opportunities, helping in the improvement of the economic conditions of farmers and workers, particularly women. Female workers should also be provided with the same technical and skill development training for skill-oriented operations like their male counterparts and the outcome may be equally productive and efficient like RMG sector (IJSG, 2010).

Weaving New Hope Traditionally and historically, women have had limited access to income or land, and also limited scope to join agriculture cooperatives, which provide production inputs and commercial opportunities to become independent commercial producers. Despite good socio-economic progress of women in many sectors over the recent decades, the jute textile sector of Bangladesh still remains a male dominated sector compared to other textile sectors. Employment of female workers is relatively less in the jute sector whereas more than 80% of workers are female in Ready Made Garments (RMG) sector.

Currently, 2,43,000 workers are employed in 26 state-owned jute mills. Women workers constitute 18% of the total workforce of BJMC jute mills (Ministry of Finance, 2017). Because of the lack of skill

and low basic wages, female workers have almost no savings and can hardly bear the cost of education for their children (Gender Action Plan, International Jute Study Group, 2010).

To improve this scenario through developing the capacity of weaving and designing, diversifying end products, and to strengthen the skills and employability of the women workers in cottages and small enterprises, with the funding support from European Commission, Practical Action is implementing a project titled ‘Securing Employment and Economic Development around Jute Textile and Light Engineering Sector in North-West Bangladesh’ through RDRS Bangladesh in four districts of Rangpur division since February 2017. The project is being implemented in the 4 districts of Rangpur Division which includes Rangpur, Kurigram, Lalmonirhat and Gaibandha. Broad focus has been placed on the jute

textile and light engineering value chain to strengthen economic empowerment and skill with job opportunities for entrepreneurs, youth, women weavers, artisans and other actors of the value chains.

To contribute to the economic development of one of the most economically depressed parts of the country with the potential of creating jobs for thousands of extreme poor and women (includes 2% PWD) in the Jute Textile and Light Engineering and related sectors, the project was designed on a business development approach to make it financially sustainable. It ensures financial sustainability at three levels: a) Entrepreneur level through technical and business skill development, adopting revenue generation model, better understanding of cost structure of the business and accessing other available commercial finances; b) Micro enterprises through www.ibtbd.net

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upgradation/diversification of products, better access to market intelligence, ability to meet buyers compliance, better sales and increased profit margin; c) Worker level through skill development and improved access to job information to increase income and find better employment opportunities and skill training.

During the project period, professional jobs in small industries, vocational training, value chain strengthening and introducing business development approaches to youth will lead to greater local economic development.

Moreover, the income level of metal workshop artisans will increase.

A total of 2350 poor women have received basic training on weaving, jute product making and safety measures from Karupannya Rangpur Ltd. (one of the largest exporters of jute products in Bangladesh) as part of the project.

After receiving basic training, all the weavers have completed a three-month apprenticeship.

Within three years, the impact has started yielding. Many lives have begun to change. Now they are working for selected SMEs, either production-based working from home or salary based in factories such as Karupannya Rangpur Ltd. It was found that the current average income of women workers or home-based jute product makers is 118 BDT/day (average 3530 BDT per month and maximum 9000 BDT per month). Their income varies based on their efficiency, type of factory they are working in, modality of working, etc. It is mentionable that around 68% of the women have received contracts from the employers and the average income has increased up to 112%. From an average income of 710 BDT per month, women weavers are now earning up to 1500BDT per month on an average. For few of them, this has become a way of empowering themselves through contributing to the family financially as they were homemakers or supporting their husbands in agricultural activities only.

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In Bangladesh, the jute sector can provide the second most significant area for women empowerment after the garment sector as women participation in the Jute preparing, knitting, safety & security in Diversified Products the workplace, I got a job here! It was a (JDP) sub-sector is lifeline for me and my downtrodden substantial. Many family, enabling my capacity to earn to women, mainly in rural continue my education, support my family and have a dignified life,” areas and without any Mahfuza added. From the apprenticeship training, are directly period, Mahfuza is earning 3000 BDT per involved with the month which is great support for herself and her family. production of craft Halima Begume, weaver from Asiruddin items using jute as Jute Products, Gaibandha, completed the main raw training under the same SME. Currently material. she is supporting the new batch of

On a busy Wednesday, in late October last year, Mahfuza was working like a busy bee at Bunon Craft Hub in Rangpur, one of the northern districts of Bangladesh. The 20-year-old graduate student remains busy in weaving diversified jute products, for five days a week, six hours a day. She has been producing jute handicrafts, handbags, woven baskets, table mats, toys, etc. for the last couple of years.

These diversified jute products are sold to buyers in the local market.

“With a little support in terms of training and employment, I have started transforming my life and this is what I have been trying to do.”

Mahfuza, told me. Due to poverty, her family wanted to discontinue her education and marry her off. “But, I never wanted my life to turn into a vicious circle of poverty. I enrolled myself into the six-month-long training on weaving.

After learning the basic weaving process, braids

weavers with training procedure and assisting the SME owner, Asiruddin, who is a disabled person. “I am working for the SME for a year now. I know which product has demand in the market now.

The owner allows me to put my own design ideas in the products as well, he encourages and appreciates our creativity”.

The journey towards crafting these opportunities was not simple at all. Not all the weavers received appreciation and encouragement at the beginning. All of them had to face hurdles and criticisms from their family and local community. But fighting against all odds, these brave women stepped out and created scope for their work which has rejuvenated the glory of the golden fibre of Bangladesh. The confidence I have found in Halima’s voice was echoed in the voice of Nurjahan Begume as well, an entrepreneur and owner of a SME from Kurigram. “Now people appreciate my work, my courage and determination of generating income. I am not taking support from anyone but support from my fellow women to flourish the business.”

Paromita Datta is a sociologist and currently working as monitoring & evaluation expert in an international charity. She can be connected via datta.paromita@yahoo.com Plaban Ganguly is an anthropologist and development communication expert and currently coordinating the marketing and communications unit in an international charity. He can be connected via plabanganguly@gmail.com

Combating coronavirus with the best modern tech has to oer

Tech

By Abhijit Asad

Technology vs. Calamity Humanity is currently facing a pandemic that can potentially wreak untold havoc upon the human population of the world.

Ever since the first reported arrival of COVID-19, commonly known as the novel coronavirus, more than 13,000 lives have been lost around the globe. The origin of the virus was in Wuhan, China, and although it failed to contain the virus, the nation nonetheless took a great many commendable steps to battle the disease – many of which would not have been possible without the prompt mobilization of their highly advanced technology sector.

Chinese technology behemoths, such as Huawei, Baidu and Alibaba, played critical roles in rolling out the necessary healthcare

implements to deal with the threat.

Aside from logistical support, the technologies that saw the most use during this time were artificial intelligence (or AI, as it is commonly known) and data science, particularly when tracking the spread of the virus as well as its effects on its victims, which went on to help with their treatment. With the eager participation of civil servants, academic leaders and medical professionals, nations around the world are working hard to contain the spread of coronavirus, and they are using technology in a myriad of ways to ensure that it happens effectively and efficiently.

Infervision, a company specializing in artificial intelligence-powered research, played an instrumental part in enabling medical personnel by designing an AI-powered solution to quickly and correctly

identify cases of coronavirus. Their AI solution vastly improved upon the slow speeds of computerized tomography (CT) scans, allowing a great deal of time to be saved in hospitals with overloaded imaging departments because of the spread of the pandemic.

Alibaba, the most well-known ecommerce titan from China, also harnessed the power of AI to develop a rapid diagnostic solution with a success rate of over 95%, taking only a matter of seconds, which, compared to traditional methods, makes a great difference.

The role of AIs in the fight against COVID-19 does not end at the disease’s diagnosis and treatment.

Since artificial intelligences can be trained to observe and deduce www.ibtbd.net

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patterns while parsing through complex data sets, a Canadian startup by the name of BlueDot developed an AI to track the spread of the highly infectious coronavirus and determine outbreak situations based on information gleaned from the intensive analysis of government-released documents and notices, social media platforms, research documents, and news reports. BlueDot’s artificial intelligence has been used to track the risks of other infectious diseases in the past, and in this particular instance, it correctly issued a warning about the coronavirus outbreak multiple days ahead of the government-issued notices, as well as the notice sent out by the World Health Organization itself. This service is still being used to monitor the spread of the virus.

To provide further logistical support in outbreak-affected areas, a company called Terra Drone has been using its fleet of unmanned aerial vehicles – commonly known as drones – to transport quarantine material, medical supplies and samples between hospitals and disease centers in China, without needing to risk human lives in the

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process. Drones have proven to be multipurpose and extremely versatile in these dire situations, as they can be mobilized with various kinds of hardware loadouts for different purposes, such as the monitoring of public locations, thermal imaging of large areas, or tracking if quarantine mandates are being complied to properly. Similarly, many tasks that would have ordinarily required the potentially life-threatening involvement of human personnel have been relegated to robots, such as delivering medication and food, as well as the sterilization of hospitals and clinics. In case of outbreaks like coronavirus, which can only be slowed down or stopped through the prevention of interpersonal physical contact, and the encouragement of social distancing, these machines are actively reducing the need for such situations. A number of special robots have been developed by a firm called Blue Ocean Robotics to terminate viruses and bacteria using ultraviolet light without requiring human intervention.

Technology is also helping hospitals and healthcare entities to deal with the massive amount of administrative work that are required for the processing of a contagion as dire as the coronavirus, given the vast spike in the number of patients that usually accompany these situations. A company called Ant Financial has developed a blockchain platform that not only greatly accelerates the processing of claims, but also helps to minimize

the personal interaction between hospital personnel and their patients, which aligns perfectly with the prevention mechanism for the virus.

Google used the formidable processing power of its DeepMind AI platform to gain greater understanding of the makings of this virus, going on to release their discoveries for the benefit of researchers. Another company called BenevolentAI is using their artificial intelligence systems to determine pharmaceutical solutions for the treatment of COVID-19, including existing drugs that can be useful in this case. It has already proposed several possible solutions, which have been successfully used to treat the disease in numerous cases.

Huawei, DiDi and Tencent are also utilizing their massive resources to develop possible vaccines or cures for this disease.

Regional surveillance systems as well as ‘smart helmets’ have enabled the authorities in China to run real-time facial recognition and thermal scans in order to track individuals displaying abnormal (i.e. feverish) body temperatures, who may be carrying the virus. The travel histories of citizens are also being monitored around the world to determine their chances of carrying the virus.

Aside from these purposes, technology is also being used to facilitate more ordinary matters, such as the dissemination of warnings, health guidelines and travel information through the use of automated chatbots, or the provision of health consultancy over instant messaging platforms. Research is also taking place to develop superior types of face masks, such as the antibacterial ones developed by Sonovia, a startup from Israel.

The COVID-19 outbreak has clearly shown us how important technology is when dealing with such catastrophes, when saving lives is of the utmost importance, under the pressure of limited time and resources, even with severe restrictions in place. Had it not been for modern technology, the death tolls would have numbered far higher, perhaps orders of magnitude more.

Global Economy

CORONA VS THE WORLD

By Rashna Mahzabin

Quarantined World Economy andemics are large-scale outbreaks of infectious disease that can greatly increase morbidity and mortality over a wide geographic area and cause significant economic, social, and political disruption. The World Health Organization (WHO) has officially declared the outbreak of COVID-19 a pandemic, after the disease caused by the new coronavirus, spread to more than 100 countries and led to tens of thousands of cases within a few months. At the time of writing this article, there are 218,815 confirmed cases of coronavirus worldwide and the deathtole is 8,810. The virus can be deadly for people who already have a compromised immune system and

battling with other physical problems.

The last pandemic the world has seen is the influenza outbreak in 1918.

Since then the world has become globally connected and the economies have become intertwined; which means if a country falls, all the countries related to it also face the heat, even if indirectly or partially. In the case of coronavirus, not one but the majority of the world is faced with the challenge. www.ibtbd.net

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The World Health Organization (WHO) has officially declared the outbreak of COVID-19 a pandemic, after the disease caused by the new coronavirus, spread to more than 100 countries and led to tens of thousands of cases within a few months. At the time of writing this article, there are 218,815 confirmed cases of coronavirus worldwide and the deathtole is 8,810

WORLD ECONOMY VS CORONAVIRUS

Economics are secondary to the health consequences for any pandemic that has a significant fatality rate (as coronavirus so far appears to have). The economics are important in their own right and as a warning to avoid drastic measures that do not influence the number of deaths, but beyond that there is no meaningful trade-off between preventing deaths and losing some percentage of gross domestic product for less than half the year.

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As the world grapples with the coronavirus, the economic impact is mounting - with the OECD warning the virus presents the biggest danger to the global economy since the 2008 financial crisis. UNCTAD, the UN trade agency, warned of a slowdown of global growth to under 2% this year, effectively wiping $1 trillion off the value of the world economy. A poll of economists

by the London School of Economics found 51% believed the world faces a major recession, even if COVID-19 kills no more people than seasonal flu. Only 5% said they did not think it would.

Businesses are dealing with lost revenue and disrupted supply chains due to China’s factory shutdowns. Weeks after China imposed travel restrictions on millions of its

Impact on Air Travel: people, Italy placed quarantine measures on its entire population, with France and Spain imposing similar measures and many other European countries restricting movement and business activity. On 11 March, some key industries in Wuhan were told they can resume, a day after Chinese President Xi Jinping visited the city for the first time since the outbreak began.

Here are few ways the virus outbreak is creating ripples around the world:

Falling Stock Oil Prices:

To combat the economic fallout, the US Federal Reserve on 15 March cut its key interest rate to near zero.

But the move, coordinated with central banks in Japan, Australia and New Zealand in a joint-effort not seen since the 2008 financial crisis, failed to shore up global investor sentiment, with oil prices dipping below $30 a barrel on 16 March, and a 9% slump in share values when Wall Street opened.

China is the world’s biggest oil importer. With coronavirus hitting manufacturing and travel, the International Energy Agency (IEA) predicted the first drop in global oil demand in a decade.

"Covid-19 (coronavirus) has spread beyond China and our 2020 base case global oil demand forecast is cut by 1.1 mb/d. For the first time since 2009, demand is expected to fall year-on-year, by 90 kb/d," the IEA said in its

monthly report for March 2020.

On 9 March, oil prices lost as much as a third of their value the biggest daily route since the 1991 Gulf War, as Saudi Arabia and Russia signaled they would hike output in a market already awash with crude, after their three-year supply pact collapsed.

“A WHO declaration of global emergency and U.S.-EU traffic ban is dampening the global energy demand outlook, in conjunction with an intensified price war between Saudi and Russia,” Margaret Yang, market analyst at CMC Markets in Singapore, told Reuters. “Bears are dominating the oil market and there might be more downside before a bottom can be reached.”

Anyone hoping cryptocurrencies might prove a safe haven was disappointed. Bitcoin lost more than 30% of its value in the five days to 12 March, Reuters reported, outpacing losses for stocks and oil. “We’ve seen de-risking across all asset markets,” said Jamie Farquhar, portfolio manager at London-based crypto firm NKB. “Bitcoin is certainly not immune to that."

On 5 March - before the US travel ban was announced - the International Air Transport Association (IATA) predicted the COVID-19 outbreak could cost airlines $113 billion in lost revenue as fewer people take flights.

“The industry remains very fragile,” Brian Pearce, the IATA’s chief economist, told the Associated Press. “There are lots of airlines that have got relatively narrow profit margins and lots of debt and this could send some into a very difficult situation.”

On March 16, British Airways said it would cut flying capacity by at least 75% in April and May. Other UK airlines, including Virgin Atlantic and easyJet also announced drastic cuts.

In most of the African countries flights from Europe, Asia and the USA are banned. Countries that give visas on arrival have stopped till further notice is published.

Production Fall:

Production in China, USA, Italy, Spain has stopped because of quarantine. The countries are in lockdown hence all the production is halted all over.

China, being the number one manufacturer country, is facing the back lash. The manufacturing sector in China has been hit hard by the virus outbreak. The Caixin/Markit Manufacturing Purchasing Managers’ Index — a survey of private companies — showed that China’s factory activity contracted in February, coming in at a record-low reading www.ibtbd.net

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2020-2021 WORLD ECONOMY

of 40.3. A reading below 50 indicates contraction.

Such a slowdown in Chinese manufacturing has hurt countries with close economic links to China, many of which are Asia Pacific economies such as Vietnam, Singapore and South Korea.

Factories in China are taking longer than expected to resume operations, several analysts said.

That, along with a rapid spread of COVID-19 outside China, means that global manufacturing activity could remain subdued for longer, economists said.

Downgrades in economic forecasts:

The outbreak has led major institutions and banks to cut their forecasts for the global economy. One of the latest to do so is the Organisation for Economic Co-operation and Development.

In a March report, the OECD said it downgraded its 2020 growth forecasts for almost all economies. China’s gross domestic product growth saw the largest downgrade in terms of magnitude, according to the report. The Asian economic giant is expected to grow by 4.9% this year, slower than the earlier forecast of 5.7%, said OECD. Meanwhile, the global economy is expected to grow by 2.4% in 2020 — down from the 2.9% projected earlier, said the report.

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Growth prospects are very uncertain this year. The projections are based on the assumption that the epidemic peaks in China in the first quarter of 2020, with a gradual recovery through the second quarter aided by significant domestic policy easing. Together with the recent marked deterioration in global financial conditions and heightened uncertainty, this will depress global GDP growth in the early part of the year, possibly even pushing it below zero in the first quarter of 2020. Even if the COVID-19 effects fade gradually through 2020, as assumed, illustrative simulations suggest that global growth could be lowered by up to ½ percentage point this year. New cases of the virus in other countries are also assumed to prove sporadic and contained, but if this is not the case, global growth will be substantially weaker.

On this basis, global GDP growth is projected to slow from 2.9% in 2019 to 2.4% this year, before picking up to around 3¼ per cent in 2021 as the effects of the coronavirus fade and output gradually recovers. Announced and implemented policy actions incorporated in the projections will help to support incomes in the near term, particularly those well-targeted on affected firms and households.

Macroeconomic policy stimulus in the most exposed economies will help to restore confidence as the effects of the virus outbreak and supply-side disruptions fade. Low interest rates should help cushion demand, although the impact of recent and projected changes in policy interest rates on activity is likely to be modest in the advanced economies. Fiscal policy easing will also help in Asian economies, but it appears likely to be more restrictive than desirable in many others, particularly in Europe, given soft growth prospects and low borrowing rates.

Household spending continues to

be underpinned by improving labour market conditions, but slowing job creation is likely to weigh on income growth, and persistent weak productivity growth and investment will check the strength of real wage gains.

Uncertainty is likely to remain elevated, with trade and investment remaining very weak.

The downturn in financial market risk sentiment, and reductions in business travel and tourism are also likely to constrain demand growth for some time.

Prospects for the major economies are mixed:

Prospects for China have been revised down markedly in 2020, with calendar year GDP growth projected to be just under 5%.

Calendar year growth in 2021 is correspondingly pushed up to between 6¼-6½ per cent, with the level of output through 2021 broadly in line with what would have been projected in the absence of the coronavirus outbreak. A similar, albeit less pronounced, pattern is projected in many economies strongly interconnected with China, including Japan, Korea, Australia and Indonesia.

The effects of the coronavirus outbreak on other economies less heavily integrated with China are projected to be relatively mild, particularly in the United States and Canada, although the decline in confidence, disruption to supply chains and weaker external demand will moderate growth prospects.

Growth in the euro area is projected to remain sub-par, at around 1% per annum on average in 2020-21, although the impact of the virus outbreak will weaken

outcomes in the first half of 2020. The projections for the United Kingdom and the euro area are based on an assumption that a basic free trade agreement for goods comes into force from the start of 2021. Even if this is implemented smoothly, the higher costs for service exports and non-tariff administrative barriers are likely to weigh on exports and output growth through 2021.

A gradual, albeit modest, recovery in many emerging-market economies is projected for 2020-21, but the extent of this recovery is uncertain. An upturn will require a positive impact from reforms and monetary policy support in India and Brazil, well-focused policy measures in Mexico and Turkey to boost sustainable growth, and a gradual recovery in commodity exporters exposed to the slowdown in China this year.

DOWNSIDE RISKS

Growth could be weaker still if downside risks materialise. In the near-term, the major downside risk is that the impact of the coronavirus proves longer lasting and more intensive than assumed in the projections. In the event that outbreaks spread more widely in the Asia-Pacific region or the major advanced economies in the northern hemisphere, the adverse effects on global growth and trade will be much worse and more widespread. Illustrative simulations of this downside risk scenario suggest that global GDP could possibly be reduced by 1½ per cent in 2020, rather than by ½ per cent as in the base-case scenario. A larger decline in growth prospects of this magnitude would lower global GDP growth to around 1½ per cent in 2020 and could push several economies into recession, including Japan and the euro area. The overall impact on China would also intensify, reflecting the decline in key export markets and supplying economies.

Other important downside risks include:

Trade and investment tensions remain high and could spread further. The prospects for a further trade deal between the United States and China that would remove all the remaining tariffs put in place over the last two years are uncertain. In addition, other bilateral trade tensions could also still spread, notably between the United States and Europe. Failure to achieve a prompt resolution to the current disruption to WTO dispute settlement procedures would also add to global trade policy uncertainty. A particular concern is that trade and investment restraints may be used as levers in negotiations about taxation of global corporations and other non-trade-related issues.

Uncertainty remains about the future UK-EU trading relationship and whether negotiations on this can be completed before the end of the transition period set out in the withdrawal agreement (currently end-2020). The possibility that a formal trade deal will not be agreed remains a downside risk and a source of uncertainty. If trade between the United Kingdom and the European Union were to revert to

UNCTAD, the UN trade agency, warned of a slowdown of global growth to under 2% this year, effectively wiping $1 trillion off the value of the world economy. A poll of economists by the London School of Economics found 51% believed the world faces a major recession, even if COVID-19 kills no more people than seasonal flu.

WTO terms after 2020, instead of a basic free trade agreement for goods as assumed in the projections, near-term growth prospects would be significantly weaker and more volatile. Such effects could be stronger still if preparations to border arrangements failed to prevent significant delays, or if financial market conditions and consumer confidence were to deteriorate considerably.

The recent sharp reaction in financial markets to the spread of the coronavirus in late February adds to the persisting financial vulnerabilities from the tensions between slower growth, high corporate debt and deteriorating credit quality, including in China. Globally, just over half of all new investment grade corporate bonds issued in 2019 were rated BBB (the lowest investment-grade rating) and a quarter of all non-financial corporate bonds issued in 2019 were non-investment grade.

These developments raise the risk of significant corporate stress if risk aversion intensifies from already high levels, especially in event of a sharp economic downturn. In such circumstances, current BBB-rated bonds could be downgraded to non-investment grade, with the associated enforced sales amplifying the financial market effects of the initial downturn triggered by the coronavirus spread.

COULD COVID-19 CREATE ITS OWN STRUCTURAL LEGACY?

History suggests that the global economy after a major crisis like Covid-19 will likely be different in a number of significant ways.

Microeconomic legacy: Crises, including epidemics, can spur the adoption of new technologies and business models. The SARS outbreak of 2003 is often credited with the adoption of online shopping among Chinese consumers, accelerating Alibaba’s rise. As schools have closed in Japan and could www.ibtbd.net

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plausibly close in the U.S. and other markets, could e-learning and e-delivery of education see a breakthrough? Further, have digital efforts in Wuhan to contain the crisis via smart-phone trackers effectively demonstrated a powerful new public health tool?

Macroeconomic legacy: Already it looks like the virus will hasten the progress to more decentralized global value chains — essentially the virus adds a biological dimension to the political and institutional forces that have pushed the pre-2016 value chain model into a more fragmented direction.

Political legacy: Political ramifications are not to be ruled out, globally, as the virus puts to the test various political systems’ ability to effectively protect their populations. Brittle institutions could be exposed, and political shifts triggered. Depending on its duration and severity, Covid-19 could even shape the U.S. presidential election. At the multilateral level, the crisis could be read as a call to more cooperation or conversely push the bipolar centers of geopolitical power further apart.

WAY FORWARD

Against the background of an already weak global economy and downside risks, the near-term challenges from the coronavirus outbreak reinforce the need for policy actions to contain the spread of the virus, strengthen health care systems, boost confidence and demand, and limit adverse supply effects.

Multilateral policy dialogue is essential to agree on appropriate containment and policy measures to restrict the spread of the coronavirus and limit its economic costs. If growth were significantly weaker than projected, co-ordinated policy action within and across all the major economies would provide the most effective and timely counterweight.

An immediate need in all economies, but especially those most affected by the COVID-19 epidemic, is for effective public health measures that prevent

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infection from spreading.

Well-targeted economic policies are required to help support health care provision, and protect solvent companies and workers from experiencing significant temporary income disruptions because of the coronavirus outbreak.

First and foremost, additional fiscal support for health services is required, including sufficient resources to ensure adequate staffing and testing facilities, and all necessary prevention, containment and mitigation measures.

Measures can also be taken to cushion adverse effects of the outbreak on vulnerable social groups. Short-time working schemes, where available, can be utilised to enhance the flexibility of working hours whilst preserving jobs and take-home pay, although such schemes do not protect temporary or migrant workers from lay-offs. Governments can also help households by providing temporary assistance, such as cash transfers or unemployment insurance, for workers placed on unpaid leave, and by guaranteeing to cover virus-related health costs for all, retrospectively if needed.

In the very short term, the provision of adequate liquidity in the financial system is also a key policy, allowing banks to provide help to companies with cash-flow problems, particularly small and medium-sized enterprises, and ensuring that otherwise solvent firms do not go bankrupt whilst containment measures are in force. Measures that reduce or delay tax or debt payments, or lower the costs of inputs such as energy, for firms in the most affected regions and sectors should be considered. Temporary reductions in the level of reserves banks are required to hold at the central bank could also be implemented if required. Swap lines between major central banks may also need to be utilised, particularly if widespread disruption to trade or a flight to safety by portfolio investors enhances the demand for US dollars.

In addition to allowing the

automatic fiscal stabilisers to work fully, and expanding spending on health services, targeted and temporary fiscal measures could also be implemented to support businesses in sectors particularly exposed to a sharp downturn in travel and tourism. Funds established to reintegrate workers who have lost their jobs due to globalisation could also be utilised.

In the European Union, other potential options are to adapt temporarily the state aid framework, as was done at the height of the financial crisis in 2008-09, or to allow more leeway within the EU fiscal rules to affected economies, in recognition of the exceptional circumstances.

More broadly, lower policy interest rates and stronger government spending can help boost confidence and assist with the recovery of demand once the outbreak eases and travel restrictions are removed.

However, such measures are less effective in dealing with the immediate supply-side disruptions that result from enforced shutdowns and travel restrictions.

In China, a wide range of fiscal (including quasi-fiscal) and monetary policy actions have been announced over the past month, as appropriate given the adverse shock to the economy, and should help demand to recover as restrictions on labour mobility are lifted. Scope remains for additional measures if growth weakens further or if policy instruments are less effective than in the past, but careful choices are needed to avoid adding to structural problems such as high corporate debt and ongoing deleveraging challenges.

Additional precautionary reductions in policy interest rates may also be merited in a number of economies particularly exposed to the coronavirus outbreak, including Korea and Australia.

Such measures can help to restore confidence and reduce debt-servicing costs.

Stronger government investment spending, particularly bringing forward planned repairs and maintenance of the public sector capital stock, could be utilised to help provide a short-term stimulus.

In the Know

Branding in the Age of

By Munira Fidai

Branding- the saving grace for marketers all over the world. From giving products a personality and setting their price, brands do everything to make products memorable in the minds of the customers. It shapes an image of the company for customers and clients alike, enabling them to trust or like the product or to turn away from them forever.

brands must also be sensitive, courageous and visionary in their marketing eorts towards a wide spectrum of genders and ever uid gender roles.

Brands nowadays play a much more important role. By appealing (or not) to people's values, brands can make or break a firm. And the world as we know it, has become increasingly sensitive.

We live in the time of the #Metoo movement- a hashtag that was born out of females (and males) worldwide who have faced harassment based on their gender. The hashtag has become a propelling force in the world of marketing and a lot depends on how a product is marketed to best appease the ever vocal #Metoo monarchs.

The world has seen a lot of examples of gender discriminatory ads and for decades now. Fairness creams face the brunt of the criticisms but are not even close to the only ones to blame. We see mens' deodorant advertisements that sexualise women, utensil companies that use only women to market their products, driving in the notion that women are best in the kitchen, and even underwear ads that over sexualise men.

As mentioned previously, these ads and brands have been here for a very long time. But if they were so wrong, why were they not questioned earlier? One reason is the consciousness that grips the world today. When the branding of these products was done, the gender roles designed by society were very clear cut. It is not so anymore. Gender identification has changed. So has the way people think about gender roles. Where fairness and beauty were once considered important steps to

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success, the parameters in the present have shifted. The measures of beauty have changed as women increasingly feel more comfortable in their own skin. Success is defined more with capabilities, which are not dependent on any particular gender, as opposed to good looks. More and more people are becoming vocal about colourism and challenging the age old views.

Understandably then, brands like Fair and Lovely and other fairness cream brands have had to listen and change the wordings on their ads to advocate for higher gender parity and the current parametrises of beauty, while discarding the overused idea that only fair skin is beautiful.

Following a similar stance is Barbie, a doll brand that has, for decades, portrayed women as having the perfect features and figures, feeding little girls a message that outward beauty is quintessential. This stance has made beauty exclusive to only a few girls possessing those attributes as most others simply do not identify. Darker complexions and varying body sizes were left to self-pity parties. Barbie too, has had to change itself. #Metoo has sparked many controversies across the world and many celebrities, politicians and well known personalities have been called out for their past and present discriminatory and harassing attitudes. As such, many of these celebrities have had to be dropped by brands who had signed them on as their brand ambassadors.

Brands knew they would simply have to face public wrath and run the risk of being boycotted if they supported the guilty.

Brands now understand and respect public views and sentiments and most have adapted to the changing values of their customers. They have started creating ads and brands

experiences that steer clear of sexual predator presence, presence of abuse, discrimination or misogyny.

While personalization and customization is key to winning hearts these days, the underlying notion must be one of positivity, respect and acceptance, whether brands customise or mass produce.

A STEP IN THE RIGHT DIRECTION

A bigger challenge for brands is not just to change their message once but to keep adapting to the changing views as they come, and improve their brands to make it more inclusive for all. Brands such as Dove skincare have been successfully doing this for years. They use real women in their ads, with skin that looks natural and complexions that vary. Brands that use plus sized women to model their clothes, jewellery brands that use bald women, and makeup brands that use different skin tones are all examples of progressive and empowering branding. There are visible benefits to branding that ensures non-objectification of women. Not only has it been seen that objectifying a gender hurts their sentiments and alienates customers from the brand, but that positive, non-objectifying branding has actually sold more products off the shelves than stereotypical and degrading branding.

Whether customers perceive it or not, they support positive ads subliminally.

NOT MUCH TO CHANGE

Not much really needs to change in practicing positive and non-objectifying ads in the time of the #Metoo movement.

All that really needs to come in is sensitivity and inclusiveness for women. For instance, think of a brand for men, that wishes to portray a “real man”. A real man has been portrayed in many positive ways: physical strength, confidence, positive attitude, sensitivity and success have been characteristics attributed to men. Only very tasteless branding has possibly portrayed a combination of cars, women and booze to target men. This is because brands are now becoming more and more aware that a man must be portrayed as a responsible and dependable person so as to garner sales and profits. The same sentiment must be held for women. Women must be seen as more than just an LBD, fair skin and a curvy figure.

Body positivity must be allowed to push its way into stereotypes and misogyny must be squeezed out. Where evolved masculinity is easier for brands to grasp, it is the branding for women that must also evolve.

REAL RESEARCH

A very potent way of remodelling a brand in these times is to take part in surveys and crunch some big numbers.

Target customers are a brand’s best bet. If the firm can understand how these people wish to see their brand, in terms of personality and attributes, half the work is

done. Positive images of masculinity and femininity are already set and evolving in the minds of the customers and they are the ones who can really fill in the blanks for the firms that are struggling to define these gender roles in the most inclusive way. Women, for instance, will tell you that being a “real woman” is more than just good looks, that women can be IT personnel or architects or homemakers- or even all of the above. They can tell a firm that not all women like wearing jewellery, not all are makeup savvy, some are bad cooks and not every woman craves motherhood either. And that yet, they are all, invariably and unapologetically female.

Similarly, a man can tell a brand that not every “real man” has an ogle worthy body, or is a CEO of a firm. Some prefer to be stay at home husbands, some prefer to cook, some love the colour pink and some are successful simply because they are sensitive people.

RE-BRANDING FOR A PURPOSE

Rebranding simply because one wants to jump on the bandwagon shows a firm’s real intentions and may or may not work. But repositioning a brand for a greater purpose, for instance social responsibility will create wonders for it.

Think, for instance, the power of advertising in a society where domestic abuse is rampant. Media has a big role to play in such regressive societies. Advertising for change can create massive shifts in the way men and people in general think and in ways which do not seem force fed. A purpose like this, along with a brand’s core values can create paradigm shifts in the society by keeping the

A very potent way of remodelling a brand in these times is to take part in surveys and crunch some big numbers. Target customers are a brand’s best bet. If the firm can understand how these people wish to see their brand, in terms of personality and attributes, half the work is done. conversation going. Experts claim that gender roles or what it means to be a man or woman will not necessarily remain the same, even six months from now. It was and is a fluid phenomenon and will continue to be so for a long time.

Therefore, looking for fluidity, as opposed to finality is key.

A LEARNING CURVE

Brands not only stand to gain from positive branding but they also stand to learn and improve. Twitter, for example, acknowledged issues with the way women were treated on its site and vowed to change that.

They appealed to the public to evaluate whether interactions from then on were healthy or not. Since then, the brand has been making conscious efforts to change itself to match the claims of its brand. The brand has confirmed equal pay for women, and women working for the brand have seen an almost transformative change in the way the company has been dealing with women.

Branding in the time of the #Metoo movement is no joke. With sensitivity radars up and running on high alert and more and more women speaking up about their rights, brands must also be sensitive, courageous and visionary in their marketing efforts towards a wide spectrum of genders and ever fluid gender roles. The efforts must come from being real and being genuine and from an inherent desire to improve their brand and understand their customer base.

Because in recent times, force feeding stereotypes has not made money. Sensitivity has. www.ibtbd.net

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Insurance Industry

Branding in the time of Corona

MD. MONIRUZZAMAN KHAN

Head of Digital Business and Brand Communication of Green Delta Insurance gives us his insight on the importance of branding during a pandemic.

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The Covid-19 pandemic has made its way to Bangladesh. Although we all saw it coming, our nation has entered a state of panic and chaos. However, it is during times like these where we really need to show character and firmly hold our ground. As someone who plays a vital role in the branding of Green Delta, the biggest insurance company in Bangladesh, I felt the need to implement certain practices that will help us and indeed our people to weather the storm and get past these challenging times. I believe this practice should be adopted by everyone. Here are three key learnings about branding I have found out during the pandemic.

We are anticipating that all the institutions will be closed for at least the next 15 days to one month and have prepared ourselves accordingly. One of the most redeeming aspects of the age we live in is how easy it is to get things done digitally.

Safety in the digital age

Social responsibility comes ďŹ rst Of course we are a business but for now all of our focus is on the corporate social responsibility.

Green Delta has been extra careful for any promotional activities related to our business for the time being and instead, we are promoting ways that our clients can be safe. We believe we are one big family and it is through a collective effort that we will be able to overcome these adversities. It is imperative that we put safety first and although we are still a business and our operations are still very much ongoing, the policies we have implemented and the approach we have taken to tackle the pandemic all revolve around the well-being of our stakeholders.

Even our social media content has been tailored to promote awareness rather than our business. I cannot stress enough on the importance of this. Of course we do not have any separate insurances for COVID-19 but all of our other health packages are more than adequate to handle the situations.

Education is key

The only way we will be able to restrict the pandemic is through educating our people. It is crucial that we educate ourselves on how to survive. The safety and security of our families is of utmost importance and Green Delta is doing everything possible to play its part in promoting just that. As I have already mentioned that at the moment, none of our products are being tagged in any promotional activities. One of the key areas of focus for us at the moment is to educate our customers so that they can get through this. And I humbly believe that this should be the standard practice for any brand at the moment. Business will eventually resume once this is all over but right now, it is about damage control. I believe marketing and branding will play an extremely crucial role so we should use it wisely.

We are anticipating that all the institutions will be closed for at least the next 15 days to one month and have prepared ourselves accordingly. One of the most redeeming aspects of the age we live in is how easy it is to get things done digitally. We have seen the banking sector make full use of these digital prospects and this pandemic will cause other sectors to follow suit. The idea of being able to get things done digitally is an absolute Godsend at the moment especially considering the fact how human contact is the chief way to spread corona. Green delta has also implemented new features that can cater to the needs of our clients through a digital platform.

We have a lot of clients whose motor insurances will be expiring while our office activities are still suspended. In order to ensure that they do not suffer from any loss, we have decided to put in place a feature that allows customers to renew their insurance online. A link has been provided on our website and to ensure that they can execute the procedure with ease, we have also provided video tutorials. www.ibtbd.net

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Sportswear Industry

By Marjiya Baktyer Ahmed

ON YOUR MARK, GET SET, SPRINT

Apex’s latest athleisure collection SPRINT is a brand that is looking to improve the living standards of city dwellers by promoting an active, healthier lifestyle TOWARDS HEALTHIER HORIZONS The inspiration behind the collection SPRINT is to inspire people to lead a healthy life.

SPRINT wants to be the sputnik of those who want to lead that life. The collection has both performance and lifestyle products. Besides shoes, SPRINT also launched its apparel segment. Nowadays, people want to have a healthy lifestyle, they walk, they run on their own to maintain a healthy lifestyle.

Sportswear of Sprint compliments them to be the hero to explore new horizons.

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TAP INTO YOUR INNER POTENTIAL Apex has several brands, each and every brand talks about different stories. The stories of people in our daily lives.

SPRINT also has its own story that says people to ignite their inner spark, to ignite their potential. Even though Bangladesh is not seen as a very athletic country based on

A BRAND FOR THE BOLD

achievements in the sports arena, but in the midst of this stereotyping, we see numerous individual and collective achievements from places we do not even consider. SPRINT is here to motivate such practices, and applaud all the Mabia Akhters, Jamal Bhuyans, Mohammad Ismails and Johans who have made us proud while being an underdog.

Through their campaign, they want to inspire all the hidden talents to keep trying and ignite consumer’s inner potential to reach the highest stages, because they can! In SPRINT activewear collection, customers can find products which compliments running, cycling, workouts and any other indoor and outdoor sports enthusiasm.

INSPIRING A GENERATION Sprint is an athleisure brand which promotes a healthy lifestyle, and having a diversified range of products for people of all age and size. But the consumer who is self-motivating, inspirational, committed and explorer are the prime target group of SPRINT. The reception that Sprint received after its relaunch is enormous. People have connected with the brand’s communication and are inspired to do their best.

SPRINT’s strategic route for relaunching was to create brand association with the customers through promotion of remarkable achievements by local sports personnel and unorthodox professionals who have made it to the top by crossing all hurdles to chase their dreams. They have also connected with a lot of social influencers to reach to the youth population to inspire them to Ignite The Spark with their fingersign campaign, which has resulted in a high recall for the brand.

An activation has been done recently where customers could participate in a simple challenge to ignite their spark and win a chance to meet SPRINT’s brand ambassador Jamal Bhuyan.

They have also been a long time supporter of Dhaka Half Marathon and have seen great response from the participants in the event and appraisals for the overall campaign.

In the pipeline, SPRINT is full of stunning collections that customers can look forward to.

SPRINT dives into the sports segment which indicates different sports based sportswear having smooth performance.

Apex’s SPRINT intends to provide customers with all kinds of products to support their active lifestyle.

AN EXAMPLE OF SUSTAINABILITY Apex, as a parent company, takes sustainability very seriously. They make sure all the materials are sourced responsibly. They have rigorous processes placed to maintain that all materials are produced through environmentally friendly production processes and manufacturing processes are maintained at the highest level of compliance. www.ibtbd.net

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COMMON NAME: Loc usts SCIENTIFIC NAME: Ac rid i d ae TY PE: Invertebrates DIET: Herbivore GROUP NAME: Swarm AVERAGE L IFE SPAN: Seve ral mo nt h s SIZE: 0.5 to 3 inc hes WEIGHT: 0.07 ounces

Pest Control

The Curious Case Of The Creepy Crawlies:

For When The Locusts Descend About Locust:

A special type of grasshopper (Orthoptera: Acrididae) distinguished by expression of a remarkable and potentially devastating form of phenotypic plasticity, known as density-dependent phase polyphenism.

Changes in local population density cause the development of strikingly different phenotypic forms, or

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‘phases’. Low population densities produce the shy, well-camouflaged ‘solitarius’ phase, whereas crowded conditions produce the aggregating, migratory ‘gregarious’ phase.

Solitarious phase locusts avoid one another, but gregarious locusts can form huge groups and embark on spectacular mass migrations, travelling as marching bands of flightless juveniles and vast flying swarms of winged adults. Of the more than 12,000 described grasshopper species, fewer than 20 are considered locusts. Swarming locusts have evolved independently a

number of times in a variety of different grasshopper lineages throughout the world. It seems as though a combination of ecological factors has repeatedly favoured the evolution of locusts from their more grasshopper-like ancestors. The relationship between locusts and their environment and how this interaction leads to swarm formation is an active area of research.

Locust of Interest:

Locust have been feared agricultural pests since the dawn of civilisation with plagues documented in ancient texts including the Qur’an, Bible and Torah.

Locust outbreaks can occur on all of the continents with the exception of Antarctica and have the potential to affect the livelihoods of one in ten people on the planet. A single locust swarm can contain billions of insects and travel hundreds of kilometres each day. On occasion they can

LOCUST UPDATE:

At the time of writing the article, the situation remains extremely alarming in the Horn of Africa, specifically Kenya, Ethiopia and Somalia where widespread breeding is in progress and new swarms are starting to form, representing an unprecedented threat to food security and livelihoods at the beginning of the upcoming cropping season.

KENYA: Hopper bands continue to develop and form an increasing number of first-generation immature swarms in northern and central counties.

Further concentration is expected in Marsabit and Turkana. Aerial and ground control operations continue.

ETHIOPIA: No new information received. Hopper bands continue to form within a widespread area of Oromiya and SNNPR regions, including the Rift Valley. A new generation of immature swarms are likely to have started forming in some areas. Aerial and ground control operations continue.

YEMEN: Hopper bands forming on the southern coast near Aden where control was carried out. The situation is not well known in other areas where breeding is likely underway.

IRAN: Swarms and adult groups continue laying eggs in the southwest (southern Khuzestan, Busherh, southern Fars, western Hormozgan provinces). Hatching and band formation imminent.

Local breeding continues in the southeast where hoppers are forming groups and bands in eastern Hormozgan. Control operations are in progress.

The situation is under control in the following countries: SUDAN: Two immature swarms appeared on the southern coast of the Red Sea on the 14th.

Scattered adults along parts of the coast.

ERITREA: Conditions drying out on the central and northern coast. Control operations continue against groups of late instar hoppers and immature adults on the Buri Peninsula and in the Dahlak Islands.

EGYPT: Late instar hopper groups treated at one place on the Red Sea coast in the southeast.

SAUDI ARABIA: Control operations against one mature swarm and groups of laying adults near the Persian Gulf between Al Hofuf and Kuwait and a few mature groups in the northern interior south of Al Jawf.

OMAN: Hatching on the north coast and control operations against early instar hopper groups, and continue against late instar hopper groups on the east coast.

even cross oceans, as happened most recently in 1988 when Desert locust swarms from West Africa flew across the Atlantic Ocean and reached the New World. For these reasons alone, locust biology has long been the object of intense scientific study, to try to find ways to control them.

Locust swarms devastate crops and cause major agricultural damage and attendant human misery—famine and starvation.

They occur in many parts of the world, but today locusts are most destructive in sustenance farming regions of Africa. The desert locust (Schistocerca gregaria) is notorious. Found in Africa, the Middle East, and Asia, they inhabit some 60 countries and can cover one-fifth of Earth's land surface. Desert locust plagues may threaten the economic livelihood of one-tenth of the world's humans. A desert locust swarm can be 460 square miles in size and pack between 40 and 80 million locusts into less than half a square mile. Each locust can eat its weight in plants each day, so a swarm of such size would eat 423 million pounds of plants every day. Locust swarms can fly up to 150 kilometers a day with the wind, and adult insects can consume roughly their own weight in fresh food per day. A small swarm eats as much in one day as about 35,000 people.

Locust in South Asia:

Nibbling their way across a large part of Africa in the worst outbreak, locust swarms are now threatening South Asian countries with India taking extra measures to ward off a new outbreak that could ravage crops. India is buying drones and specialist equipment to monitor the movement of locusts and spray insecticides.

Earlier this year, Indian authorities were able to bring swarms of desert locusts under control, but an outbreak in neighboring Pakistan has again raised concerns about the safety of crops such as wheat and oilseeds in India.

Pakistan has declared a national emergency to battle the swarms of desert locusts which are eating crops on a large scale and raising fears of food insecurity.

Villages in India's western states of Gujarat and Rajasthan states, which share a border with Pakistan's desert areas, are especially susceptible to the locust invasion. www.ibtbd.net

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Combatting the Locust Army:

To scare away the locusts, communities in Africa make loud noises, blowing whistles and banging pots. But the most effective way to get rid of the pests – and importantly, to prevent their eggs from hatching – is through ground and aerial pesticide spraying. In Kenya, the UN’s Food and Agriculture Organization and the Ministry of Agriculture are carrying out these measures. But in Somalia, conflict and insecurity make aerial spraying nearly impossible. On February 2, the government of Somalia declared a national emergency, which means the situation has overwhelmed its capacity to respond.

Pakistan's government declared a national emergency in February in response to swarms of desert locusts in the eastern part of the country.

Prime Minister Imran Khan made the emergency declaration following a government briefing on the situation in the first week of February. The information minister of Pakistan stated that the nation is facing the worst locust infestation in more than two decades and have decided to declare national emergency to deal with the threat. National Food Security Minister of Pakistan Makhdoom Khusro Bakhtiar said the locust swarms were on the Pakistan-India border around Cholistan and were previously in Sindh and Balochistan, Pakistani newspaper Dawn reported. The minister added, the locust attack is unprecedented and alarming. He further said, action has been taken against the insect over 0.3 million acres (121,400 hectares) and aerial spray was done on 20,000 hectares.

District administrations, voluntary organizations, aviation division and armed forces are put into operation to combat the attack and save the crops.

India is buying drones and specialist equipment to monitor the movement of locusts and spray insecticides to ward off a new outbreak that could ravage crops, government officials of India said. Earlier this year, Indian authorities were able to bring swarms

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LOCUST AIMING FOR BANGLADESH? Bangladesh has been alerted to keep watch on probable locust infestation, which the country has never experienced over the last five decades. An official of Bangladesh’s Department of Agricultural Extension (DAE) who oversees the affairs of the Plant Protection Wing told a news daily that they have been observing the locust situation closely as swarms of locusts already started invading crop fields in some parts of India and Pakistan. Bangladesh has never experienced locust invasion before. But this year a record infestation of locusts is reported.

of desert locusts under control, but an outbreak in neighbouring Pakistan has again raised concerns about the safety of crops such as wheat and oilseeds in India. Other than ensuring the availability of large quantities of insecticides, India is buying drones and sprayers to beef up the readiness to deal with the attack.

With locusts attacking standing crops in different parts of the country and at least three other neighbouring states, Pakistan has proposed setting up a high-level technical committee, comprising senior officers from Southwest Asian countries for effective management and control of the threat. This was suggested during a high-level ministerial meeting organized by the Food and Agriculture Organisation (FAO) of the United Nations (UN) and its Commission for Controlling the Desert Locust in South West-Asia (SWAC). The meeting had

been held following requests from four FAO member countries, including Pakistan, Iran, India, and Afghanistan. Pakistan was represented by Federal Food Security Ministry Makhdoom Khusro Bakhtiar, National Disaster Management Authority (NDMA) Chairman Lt General Muhammad Afzal, National Food Security and Research Secretary Dr Hashim Popalzai and other key technical staff from Pakistan. Ministers and senior officials from Iran, India and Afghanistan and key FAO experts in Rome and Pakistan attended the moot. Bakhtiar gave an overview of Pakistan’s action plan to control the locust threat. He proposed the formation of a high-level technical committee, comprising senior officers from Southwest Asian countries, for effective management and control of the locust threat.

speak to local agriculturists.

Ducks can eat more than 200 locusts a day, compared with chickens which can manage just 70.

Quackies Vs Crawlies: Chinese authorities have dispatched the 100,000 birds to its Xinjiang border in the far west of the country, where it meets Pakistan and India as the locusts continue to swarm eastwards. A trial will take place in the coming months, after which the squadron will be sent to Pakistan's Sindh and Punjab provinces, as well as the Balochistan province where Chinese experts undertook a field visit to take samples and

Action Plan for Bangladesh As other neighbouring countries have been severely affected by the monstrous hoppers, Bangladesh needs to create a strategy which can be executed with the existing resources. The farmers need to be warned and at the same time trained to face this crisis, because proper preparedness is the only measure we have against a calamity we have not yet faced, and it could be any day that the locusts swarm into our neck of the woods.

www.ibtbd.net

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Urban Planning

Pa rt 2

The First Town Plan of Dhaka

D hak a Coll e g e – 1 9 0 4

Dhaka rose to prominence in the 17th century as both a commercial center and provincial capital of the Mughal Empire. The city was known as Jahangiraad in commemoration of the Mughal Emperor Jahangir.

Medieval Dhaka's glory peaked in the 17th and 18th centuries, when it was home to merchants from across Eurasia. The Mughals decorated the city with well-laid out gardens, tombs, mosques, palaces and forts.

The city was once called the Venice of the East.[13] Under the British Empire, the city saw the introduction of electricity, railways, cinemas, Western-style universities and colleges and a modern water supply.

Over the years, Dhaka has still retained its position as a economic, political and cultural center of Bangladesh. In Part 2 of this

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installation we dive further into Sir Patrick Geddes’s report of how this magnificent hustling bustling city was erected.

Chapter four elaborates on the improvement of quarters along eastern, northern and southern side, Chawk and Jail area, the road system and last but not the least riverbank development. Interestingly, Buriganga was cited as a wide and affluent river upon which any bridge construction would be troublesome!

The future extension of housing in the new suburbs and central areas of the city are illustrated in chapter five. This section also distinguishes a Muslim residential area around the Shah Saheb’s House and a Hindu residential area around the Dhakeswari Temple. The location of engineering college, hospital and

medical school was seriously criticized as their location had been inappropriately chosen ignoring their increasing impact on the city.

Prof. Geddes began the sixth chapter by congratulating the Municipality and its Engineers for developing the wastelands for additional uses.

Much emphasis was given in this chapter on the desired esplanade along the Buriganga with shaded trees and seats, return of the water based sports like boating and rowing and improving the river landscape with a judicious plantation on the adjacent island (Moglani’r Char, in Buriganga which is not there anymore at present as the river changed its course), improvement of the burial ground, tanks and other open spaces. The Khals (canals) were considered as water parks and

travel modes Utilitarian perception of the canals and water bodies of the city  Proposal of water parks, esplanade, open spaces while preserving the ecology  Suggestion of a unique sanitation system  Improvement of the trades and businesses while taking advantage of the local culture, practices and people.

Sir Patrick Geddes was indeed well ahead of his time and a futurist. His love for ecology, geography and environment is stated in the report.

He wholeheartedly wanted to preserve the water bodies of Dhaka. He knew that they would be lost if their utility to the authority is not proposed or suggested. So he extensively planned their use. It is absolutely amazing that he vouched for a multimodal transport system back then. He wanted to connect the rail and waterway with roads while planning for trade center and markets for goods. He also had a fair understanding of the local business and production, as a result he could advise for not ignoring the agriculture based industries. Furthermore, he predicted the growth of the city and were quite critical of the authorities for hastily planning for the new development which would make the city more congested and compact. It is really unfortunate that none of his recommendations were taken into consideration and implemented. We actually lost all the canals, most of the open space and Dhaka now regularly takes the top spot in the list of unlivable cities. 

Dha k eshwar i M a n dir – 1904

He wholehear tedly wanted to preser ve the water bodies of Dhak a. He k new that they would be lost if their utilit y to the author it y is not prop osed or suggested.

their wider potentials were further explained in chapter eight.

In chapter seven, Revival of industries in order to bring back the lost glory of the city has been analyzed and appreciated as the main hope for economic transformation. The shell industries, fine Muslin, perfumes and other such industries producing luxury goods along with jute, cotton and food industries were identified as some of the great resources of this region. Agriculture, farming, livestock and cattle farming especially focussing on dairy products were also emphasized as he realized Dhaka might have become a town, but it still had the local people from the villages in the vicinity who are more comfortable and experienced in farming. He wanted to use that immense potential.

His concern for the ecology, particularly for the canals and water

bodies are really depicted in chapter eight. He dedicated this whole chapter to state the importance of the canals in the city. He noticed the unsanitary condition of Dhaka and observed open defecation, waste and toilets mostly on the canals. He proposed an ingenious idea to collect the waste from the privies along the water bodies with barges and then carry them to dumpyards where it can be used to produce manure or simply be safely disposed. He also suggested a canal based trade system, where there will be bazaars at important points of the city along the city and there must be a connection between the rail network.

Finally, chapter nine, the concluding chapter explains the necessity of an upgraded, centralized sanitation system for a better, hygienic and livable city of Dhaka. It was estimated to take seven years to construct the system with a cost of thirty lakhs Rupees back then which was a huge sum. For a short term solution, he reiterated his suggestion for a canal based sewer transport system with barges.

The Main Features of the Plan

The main observations from report can be summarized as below:  Put emphasis on models and surveys before planning or analysis  Looked into the city’s transport and traffic in details and prioritizing public transport  Mulitimodal transport system for such a compact city including all

THE WRITERS

Fatiha Polin

Head of Research & Development Perceive Research, Design & Consultancy Email: fatihapolin@gmail.com

Dhrubo Alam Transport Planner for Bus Route Rationalization and Company based Operation of Bus Service in Dhaka Dhaka Transport Coordination Authority Email: dhrubo101@yahoo.com

www.ibtbd.net

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