Global smartphone market grew 6.5% in Q2, led by Samsung and Apple

Global smartphone shipments rose 6.5 percent in the second quarter, driven by Samsung Electronics and Apple, preliminary data from IDC showed on Monday, but a full recovery in demand is yet to come around as it remained challenged in some markets. Global shipments grew for the fourth consecutive quarter, according to the research firm, as smartphone makers look to artificial intelligence to entice price-wary consumers and capture a larger market share. Apple held its developer conference last month where it showcased new AI features for its iPhones powered by OpenAI’s ChatGPT. Samsung also held its Galaxy Unpacked event last week where it announced new models for its Galaxy fold and flip as well as new AI features. Samsung held the first spot with an 18.9 percent share of shipments in the second quarter, followed by Apple with a 15.8 percent share and Xiaomi with 14.8 percent.

Source: https://www.thedailystar.net/business/news/global-smartphone-market-grew-65-q2-led-samsung-and-apple-idc-says-3657551

Ceramics industry reeling from three-pronged assault

The ceramics industry has been desperately seeking respite from a spate of crises in recent months, but their woes have only deepened due to a worsening gas crisis. One of the major problems facing the industry has been brought on by inflationary pressures, which have eaten away at local demand for ceramics. Annual inflation rose to a 12-year high of 9.73 percent in fiscal year (FY) 2023-24, the highest since 2011-12, according to the Bangladesh Bureau of Statistics. According to industry insiders, this has caused sales of ceramic products to plunge by 15 to 20 percent over the past four to five months. Furthermore, there has been no relief from international buyers. On the contrary, exports of ceramic products declined by around 25 percent. Exports of ceramic products fell to $30 million during the July-May period of FY24 compared to $39.86 million the prior year, showed data from the Export Promotion Bureau. ceramics is a gas-dependent industry and natural gas is one of the primary raw materials. It is used as fuel and accounts for 10-12 percent of the total cost of production.

Source: https://www.thedailystar.net/business/news/ceramics-industry-reeling-three-pronged-assault-3657946

Walton wins National Export Trophy

Local electronics giant Walton Hi-Tech Industries PLC won the National Export Trophy (gold) in recognition of its outstanding contribution to the exports of electrical and electronics products during the financial year 2021-22. Prime Minister Sheikh Hasina handed over the award to Walton Hi-Tech Industries PLC’s former chairman and incumbent director S M Nurul Alam Rezvi at an award ceremony at Osmani Medical auditorium in the capital on Sunday.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/walton-wins-national-export-trophy-1721066492

Maersk launches new ocean service to supercharge BD-China trade

Danish shipping and logistics company AP Moller-Maersk has launched a new ocean shipping service between China and Bangladesh to meet rising trade demand, especially in the retail sector. The new service, called SH3, began on 7 July 2024, increasing capacity on the route between the two countries. The SH3 route starts at Shanghai Port in China, calling at Xiamen, Kaohsiung, Nansha and Tanjung Pelepas before reaching Chittagong in Bangladesh. On the return journey to Shanghai Port, the service stops at Tanjung Palapas — a hub for long-haul routes to Europe. The SH3 service complements existing routes SH1, SH2 and IA7 between China and Bangladesh, said the company. Maersk has also adjusted SH1 and SH2 to improve its overall offering. Combined, these services expand coverage in China, providing more options for loading cargo throughout the week from Shanghai, Nansha and Ningbo, as well as more direct shipping choices to Bangladesh. The increased options for transit time and frequency will benefit customers by offering not only additional capacity but also greater flexibility and efficiency in their supply chains. The country’s RMG industry comprises over 4,000 factories serving more than 100 international clothing brands, he said, adding that Bangladesh exports a wide range of knitwear and woven garments, such as shirts, trousers, T-shirts, denim, jackets and sweaters to over 150 countries.

Source: https://today.thefinancialexpress.com.bd/trade-market/maersk-launches-new-ocean-service-to-supercharge-bd-china-trade-1721065643

Mr. Shamsul Islam re-appointed as MD of National Housing Finance

Mr. Mohammad Shamsul Islam has been re-appointed as Managing Director of National Housing Finance PLC for three more years with effect from July 16. Mr. Islam joined NHF PLC as Additional Managing Director in February 2021 and successfully served the company as Managing Director from July 16, 2021 to July 15, 2024. Subsequently, the Board of Directors re-appointed him as managing Director in their 256th board meeting and Bangladesh bank approved his re-appointment. Mr. Islam has more than 35 years’ experience in Banking Sector. He started off his career with AB Bank Limited as a probationary officer in 1989.

Source: https://today.thefinancialexpress.com.bd/trade-market/shamsul-islam-re-appointed-as-md-of-national-housing-finance-1721065696

TARA, MetLife team up to provide insurance benefits for rural women

BRAC Bank TARA has partnered with MetLife to provide a Micro Deposit Insurance Facility at no cost to rural women through the BRAC Bank Agent Banking Channel. This initiative, funded by a grant from the Gates Foundation, aims to enhance financial inclusion and health security among rural women in Bangladesh. The primary goal is to increase insurance penetration and promote health knowledge and consciousness among rural women. This partnership will provide insurance benefits to over 5,000 TARA customers through the Agent channel. This initiative is part of the Gates Foundation’s Access to Finance for Women agenda. It aims to empower women with greater financial security, improve healthcare access, and enhance the economic standing of women, leading to healthier families and communities.

Source: https://today.thefinancialexpress.com.bd/trade-market/tara-metlife-team-up-to-provide-insurance-benefits-for-rural-women-1721065729