Cos want to reduce costs, improve business agility
A number of local companies are gradually migrating to cloud after realising its potential benefits for a business. The adoption of cloud and SaaS (Software-as-a-Service) has been remarkable in Bangladesh. Big Bangladeshi brands including Dulal Brothers, Zaber & Zubayer, a subsidiary of Noman Group and one of the leading home textile and ready-made garments (RMG) manufacturers of Bangladesh and BRAC Bank Limited have selected Oracle to support their journey towards cloud. Bangladeshi companies progressing towards cloud transformation are backed by technology adaptation and Oracle has been a partner in their endeavours for the last 19 years. Numerous local businesses in pursuit of cloud technology understand the importance of Cloud, as industry analysts predict that over 50 per cent of all enterprise data will be managed in the cloud and 80 per cent of application operations will be resolved autonomously by 2020 , thanks to significant improvements of cloud technologies. Oracle invests a huge sum of money on R&D and wants to bring new technologies to Bangladesh so that organizations can elevate their businesses and successfully compete in international markets. That is Oracle’s vision for Bangladesh.
AI for low carbon economy
Production is a direct contributor to carbon emission, causing pollution and climate change. The higher the production, the more the pollution and worsening climate change effect. Such inevitable effect of production has raised both pollution and climate change effect to an alarming level. What could be an alternative to this inescapable reality? Even countries like Bangladesh at very early stage of development are facing call for regulatory measures to reduce carbon emission. To meet our growing consumption, we have no alternative to increasing production. The option that we have is to reduce wastage, increase efficiency, and develop cleaner alternative to production. Although the progression of industrial age is hastening both pollution and climate change, human like intelligent machine technology, commonly known as artificial intelligence (AI), could be a means to lower the negative consequences. As opposed to regulation, artificial intelligence perhaps has the possibility to intensify competition for increasing profit through lowering pollution and climate change effect.
Oil market is balanced
The oil market is balanced in terms of supply and demand, Qatar’s Energy Minister Mohammed al-Sada said on Sunday. “Geopolitical changes” are the reason for the recent rise in crude prices, the state-run Qatar News Agency quoted him as saying. There are developments in the oil market including supply and the increase in global demand, and these considerations will be taken into account at the next meeting of OPEC
SoftBank to invest $500m in ride-hailing firm Grab
SoftBank Group Corp is closing in on a deal to invest about $500 million in Grab as part of roughly $1 billion that Southeast Asia’s biggest ride-hailing firm is seeking in its latest funding. Six-year-old Grab has garnered more than $6 billion in total funding, led by SoftBank, Chinese ride-hailing firm Didi Chuxing and Toyota Motor Corp. A doubling down on Grab with new funding would underscore SoftBank’s confidence in the ride-hailing company’s aggressive expansion after it acquired Uber Technologies Inc’s Southeast Asian business this year. Ride hailing services in Southeast Asia are expected to surge to $20.1 billion in gross merchandise value in 2025 from an estimated $5.1 billion in 2017, according to a Google-Temasek report. Grab’s app has been downloaded more than 109 million times and it has clocked more than 2 billion rides so far. Within Southeast Asia, Indonesia – home to 250 million-plus people – is shaping up as a battleground for global technology giants such as Alibaba, Tencent Holdings Ltd, JD.com, Google and SoftBank in the fight for market share in ride-hailing, online payments and e-commerce.
Argon Denims to purchase new looms
The board of directors of Argon Denims has decided to procure 48 European-origin brand new looms at an estimated cost of euro 1,845,400 (about Tk 177.62 million). A loom is a device used to weave cloths and tapestry. This will increase the volume of production of the factory. The company’s paid-up capital is Tk 700 million and authorised capital is Tk 1.0 billion while total number of securities is 70 million.
G20 Women’s Summit pushes for rural women’s rights
Rural women play a key role in food production, but face discrimination when it comes to access to land or are subjected to child marriage, the so-called affinity group on gender parity within the G20 concluded during a meeting in the Argentine capital. The situation of rural women was one of the four themes of the Women 20 Summit (W20). Women 20 is one of the seven sectors of civil society operating in the context of the G20 (Group of 20), which brings together industrialized and emerging countries and which this year is chaired by Argentina. The mission of these affinity groups is to make recommendations to the main world leaders, who will meet in Buenos Aires for their annual summit from November 30-December 01. 55 per cent of the people who made up the panels belong to international corporations or related foundations. Simultaneously, a group of women members of the so-called Feminist Forum against the G20 demonstrated nearby “against the neoliberalism of the W20 businesswomen”. According to data released by the W20, rural women make up more than one-third of the world’s population and 43 per cent of the agricultural workforce.
Shipping lines turn gearless as Ctg port gets gantry cranes
Shipping companies operating to and from the Chittagong port are now switching over to gearless vessels instead of geared vessels after the installation of a large number of gantry cranes there. This is expected to have a positive impact on the port’s operations as the gantry cranes’ output is higher than the geared vessels. Currently, some 80 vessels are of geared nature, which use their own cranes to load and unload containers from the vessels. This (gantry crane installation) is a good development at the port and that’s why we’re also moving towards gearless vessels. A gantry crane can handle around 25 boxes an hour in contrast with geared vessels that can do around 15 boxes per hour. The terminal along with its two jetties has four gantry cranes since 2007 and its monthly container handling capacity is around 55,000 boxes.
Local and Global Stock Indices *
|Index Name||Close Value||Value Change||Percentage Change|
|DSEX|| 5,410.81367 || ↓7.46412|| ↓0.14%|
World Commodities *
|Commodity||Close Value||Value Change||Percentage Change|
|Crude Oil (WTI)||$ 73.75||↓0.59||↓0.79%|
|Crude Oil (Brent)||$ 83.24||↓0.92||↓1.09%|
|Gold Spot||$ 1,196.92||↓6.71||↓0.56%|
Major Currencies Exchange Rates Movement in Last Seven Days *
|USD 1||BDT 83.7807|
|GBP 1||BDT 109.8533|
|EUR 1||BDT 96.4483|
|INR 1||BDT 1.1339|
*CURRENCIES AND COMMODITIES ARE TAKEN FROM BLOOMBERG.