November 2014 Tk. 100

Informally formal the advertising industry THE BLUE Agriculture, the ECONOMY next frontier BECKONS of growth

No ‘wait and see’ among foreign investors – Professor Shamsul Alam November 2014 Tk. 100

Informally formal the advertising industry THE BLUE Agriculture, the ECONOMY next frontier BECKONS of growth

No ‘wait and see’ among foreign investors – Professor Shamsul Alam CONTENTS Cover Photo : Din Muhammad Shibly NOVEMBER - 2014

cover13 story

6 from the editor 7 letters to editor 8 short takes 10 creating opportunities agriculture as new frontier 13 cover story the blue economy beckoning 22 finance global economic affairs 24 interview of the month prof. shamsul alam 28 sector focus advertising industry 32 regional focus THE BLUE ECONOMY modi’s economic goals BECKONS 35 photo feature root of bottlenecks 41 technology watch science fiction and money 43 branding NOVEMBER - 2014 eye-openers 45 entrepreneurship women in business 48 the big idea entrepreneurial incubators CONTENTS 50 business prospects cityscape 51 executive health breast cancer 52 event spotlight classical music encore 54 startup mistakes not to make 52 56 academia nsuers meet corporate icons 2014 62 career Event Spotlight envy 64 corporate etiquettes CLASSICAL office jealousy MUSIC ENCORE 66 corporate fitness the right alleviation 68 soul searching multitasking 70 from desk to boardroom office disputes 72 motivation morning routine 74 corporate grooming perfumes 35 75 musing tipping 76 corporate dining kiva han 78 strategy overdrained 80 movies bangladeshi cinema 82 music current album sales 84 sports english premier league 86 gadget oppo find 7 review 88 tourism PHOTO FEATURE kuakata 90 hot on wheels ROOTS OF lamborghini asterion BOTTLENECKS 93 word of mouth FROM THE EDITOR Glimpse of a few pieces from our Victory in today’s context may not always connote a victory of might or military dominance, but it is rather about strategic November 2014 gains. Given the two recent international court verdicts on issue Bangladesh’s claims over the Bay of Bengal, it is imperative V that we now explore the potential economic frontier – the blue economy in this case. It is a concept which was developed as an enhanced prototype to the green economy and it delves into economic possibilities related in the context of water, INTERVIEW OF THE MONTH energy, regional cooperation and global trading - by introducing innovations that generate multiple benefits. We have tried to detail the concept in our cover story -- the Blue Economy Beckons -- for this issue, in view of its importance for business, entrepreneurship and national prosperity. Former Ambassador Humayun Kabir said that the puzzle surrounding the Blue Economy must be solved and that the issue must be understandable to all stakeholders including policymakers, investors and international players to give a proper signal about Bangladesh’s seriousness in harnessing benefits from it. In this month’s interview, Member, General Economics Division, at the Planning Commission Professor Shamsul Islam stressed on the expansion of the middle class, as it will enhance the demand for good governance that will include more participation of the civil society in the state affairs. He is optimistic of being a middle income country by 2021. ‘Our 24 development goal is peace and people-centric,’ he said. NO ‘WAIT AND SEE’ Additional articles include Dr. Hossain Zillur Rahman’s take on MOOD AMONG agriculture as the renewed economic frontier. Here he talks FOREIGN INVESTORS about re-positioning of agriculture as a growth driver, critical to matching the growth acceleration target for achieving the high-end of the middle income status. Furthermore, in our sector focus for this month, we have focused on the current CORPORATE FITNESS state of advertising industry – where, due to a lack of proper policies, the sector remains ‘informally formal.’ A photo story THE RIGHT on the bottlenecked transportation system in Dhaka city is covered, alongside more articles. ALLEVIATION We are pleased to inform the readers that Bengal Foundation will be holding the Bengal Classical Music Festival Bangladesh 2014, which will begin on November 27 and continue till December 1. This will be the third edition of the festival. The need for Bangladesh to explore other business horizons is always there, lest we overuse our glorified sectors till they cease to exist. With more and more startups becoming successful, we hope to witness a steady growth in business and the economy and thus attain our development goals and prosper as a middle income country in the near future. 66 LETTERS TO THE EDITOR

Good cover story this time. I wonder what you are planning to cover next? You are Write to us at getting deeper and deeper with every [email protected], or send us a note on our issue. Keep your performances up. This Facebook Timeline at magazine is really going to go high. www.facebook.com/icebusinesstimes. Navid Jahangir, Kawran Bazar Be sure to visit our website Dear Editor, I never heard much about for online viewing your magazine before. But when I saw it at www.icebusinesstimes.net in our Libarary at IUB, I found it to be

very helpful for one of my project October 2014 Tk. 100 related to job sector. It was previous month’s magazine. I hope there are special offers for students, or some kind of promotions so that students become inclined to buy. Graduates need these sort of magazines a lot. Thanks

Hanif Masud, Bashundhara Bangladeshi art market booming I am in the shipping business. Is there some kind of informational article or story you can cover on this subject. If there are any older issue, I would love EYING A to know. InvestorsREBOUND long for good time as unaffordability Ringku Baidya, Banani constrains housing growth

‘Knowledge economy a must to avoid middle income trap’ – ADB Vice President Bindu Lohani We had a case study in our class on real-estate business. Our lecturer said that this business would run in to saturation after a period of hike. I wonder if this is yet to come? Jamshid Alam

Vol. 5 No. 3 November 2014

This is great to know that Bengal Foundation is moving Publisher & Editor : Abul Khair forward with their Cinema. I Executive Director : Nawshin Khair would love to know, when would Managing Editor : Nobonita Chowdhury Bengal Foundation receive Executive Editor : Khawaza Main Uddin scriots again. I know a friend of Editorial Assistant : Wafiur Rahman who makes great short films. he I like the feature on green Ahmed Noushad has a good script. concept. Nice to know that at Chittagong Correspondent : Md. Shah Nowaz least some factories in the coutry are aware of the Designer : Sk. Yeahhia environment. Head of Marketing : Lucky Begum Assistant Manager Marketing : Farha Tani Finance & Accounts : Md. Abdul Alim Sales & Distribution : Md. Manik Mollah, COMMENTS Md. Raju Hossain

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: Bengal Centre, Plot-2,Civil Aviation. New Airport Road, Khilkhet, Dhaka 1229. Editorial Queries: [email protected], [email protected] Advertising, Sales, Subscription and Distribution: 01711339587, 01819412035, 01920335953, 01716783698, 01675736760 Tel: 880-2-8901132, 8901135, 880-2-8901202 Fax: 88-02-8901205 E-mail: [email protected], [email protected] Short Takes

Consumer confidence higher Consumer confidence in Bangladesh increased 25.9 points in the first half of 2014 to 66.4 points from the previous six months, according to the MasterCard Worldwide Index of Trade gap with India Consumer Confidence. It said 71% of the Bangladeshis are happy with the widens Bangladesh’s trade deficit with India economic health of the country. The rose to US$5.579 billion in the Bangladeshi consumers’ optimism previous fiscal year. The bilateral contrasted the continued uncertainty trade gap increased 33.5%, on a in the global economy. Bangladesh year-on-year basis calculation, in recorded the biggest improvement 2013-14 year and it has more than among 27 countries from the Asia doubled in the past six years – from Pacific, the Middle East and Africa $1.978 billion in 2006-07. The region covered in the study. The balance of payments deficit has been technology company in global attributed to increasing imports and payments first included Bangladesh slower exports. Bangladesh’s exports in its survey in the second half of to India were valued at $456.633 last 2012. year million compared to $563.960 million the year before – a negative growth 19.03%. A major reason for import surge is that India has been No more one of the largest sources of raw privatisation of materials for Bangladeshi SoEs manufacturing industries. The government would take back properties of disinvested mills and WB, WTO for providing Slow pace in service factories, owners of which trade support delivery at Ctg port failed to resume production. The World Bank and the World It takes 11 days and 8 hours to Prime Minister Sheikh Hasina, Trade Organisation will assist unload imported goods at in a meeting with officials developing and least-developed Chittagong sea port, according to concerned recently, said those countries to better utilise trade the National Board of Revenue. properties must be recovered and facilitation programmes which And exporters have to spend four allocated to those who are ready to set up can help them reduce trade costs days and 22 hours to clear their small and medium enterprises. She asked and fully engage in the global jobs. Bangla daily Prothom Alo the officials to take necessary steps in economy. Trade Facilitation was reported recently the state of this regard. The premier also made a one of the important elements of service at the port that added policy statement that no state-owned the outcome from the Bali costs of doing business. mills and factories would be Ministerial meet and the WB is Chittagong Port’s position is the privatised in future. The committed to the Bali deal. The 108th in the World Bank’s government had earlier in WTO has launched its Trade ranking of global ports in terms the 1990s accelerated the Facilitation Agreement Facility, of loading, unloading and process of disinvestment to ensure that no country is left shipments of goods. Based on of state-owned behind and all are able to access study of 23 sea ports, World enterprises under the the support they need. The WTO Customs Organistion found that supervision of the will work closely with partner the formalities that Bangladeshi Privatisation organisations, including the WB importers faced would take 2 Commission. Group, to identify sources of days and 14 hours at best. funding and support.

08 ICE BusinessTimes November 2014 CURRENT AFFAIRS

Malaysia for China confident of accommodative projected growth policy China’s investment growth should Wage employment drives Malaysia, widely considered a pick up in the coming months as change in SA Southeast Asian economic authorities hasten construction of Rural jobs allow people to escape poverty success story, still requires the water conservancy and other and urban jobs are a ticket to the middle support of fairly low interest infrastructure projects to support class, says an analysis in Addressing rates to continue humming, growth. A senior official said Inequality in South Asia. Economic and the country’s central bank quickening investment in projects occupational mobility has become governor said recently. such as refurbishing shanty towns substantial in the region in recent decades. Malaysia’s economy is likely to and building rail networks and water Cities support greater mobility than rural keep expanding at a solid clip facilities should boost the broader areas, and that wage employment is one of next year despite softer economy. China can achieve its its main drivers. In both Bangladesh and economic growth globally. In full-year growth target of around India, a considerable fraction of an interview with The Wall 7.5%, though many economists think households moved above the poverty line Street Journal, she predicted that goal is in doubt unless more between 2005 and 2010. A sizable growth between 5% and 6%, measures are taken to stimulate proportion of the poor and the vulnerable without bothering about signs activity and offset the drag from a moved into the middle class. The upward of economic softness in Europe cooling property market. Fixed-asset mobility within a generation was and particularly in China, the investment, a crucial driver of the comparable to that of dynamic societies. country’s largest trading world’s second-biggest economy, has partner. In July, the Malaysian sagged this year. central bank raised official borrowing costs for the first time since 2011, to 3.25% from 3%.

Wealth worldwide increases remarkably The world’s rich is getting richer, with 0.7% of the rich now owning more than 48% of global wealth in 2014, according to the latest Credit Suisse Global Wealth Report. Global household wealth increased by 8.3% to USD 263 trillion, driven by wealth growth in the United States and Europe. Wealth is likely to rise by nearly 40% in the next five years. Showing that inequality is extreme and growing, the report warns that it Dutch support likely for Deep Seaport could be a trigger for recession. The Netherlands is willing to join Bangladesh’s development Global wealth per adult efforts including investment in the proposed deep seaport in reaches a new all-time high Sonadia. Dutch Prime Minister Mark Rutte came up with the of USD 56,000, rising by assurance at a meeting with premier Sheikh Hasina on the USD 3,450, the highest sidelines of the ASEM Summit at the Milano Congressi in Italy increase recorded since recently. Bangladesh is going to be one of the next eleven the financial crisis. members in terms of achieving economic prosperity, the Dutch leader said. He added that the Netherlands has lot of things to learn from Bangladesh. A deep seaport is one of big projects that is being discussed for quite a number of years.

November 2014 ICE BusinessTimes 09 Creating Opportunities

Agriculture, the unnoticed but the nextgrowth driver

By Hossain Zillur Rahman*

Not all economic superpowers are industrialised nations. Developed countries such as Denmark and New Zealand are agricultural nations; they still bank on farm produces, excelling in agriculture and exploiting the true potentials of value addition. In its natural resource endowment, Bangladesh is clearly blessed with high potential of growth based on agriculture. However, we have not been able to focus on agriculture as a sector which can grow at a faster rate and contribute to accelerating the overall economic growth. We have laid emphasis on agriculture in two ways – (i) It’s important for national food security so agriculture means primarily a subsistence sector; and (ii) It’s a backward sector that has involved the story of poor farmers and deprivation. The policy thinking has been content to focus only on the two goals of food security and stabilisation of rural incomes, to the neglect of exploiting the larger growth potentials of the sector. Policy mind-set has prioritised this aspect of the role of agriculture but unfortunately this appears to have been at the expense of tapping the sector’s broader growth potential.

10 ICE BusinessTimes November 2014 HOSSAIN ZILLUR RAHMAN

boundary, the scope for investments in marine fisheries has widened. Livestock is an agricultural subsector whose potentials are much, much higher than what we see today. We have serious shortage in supply of milk whereas the people now want to consume it as nutrition of a whole family, not merely the children but reality is we depend on imported milk products. The same is applicable to horticulture sector. One key area yet to come into focus is agri retail. Investment in this area is central to supply chain efficiency, product quality and price stability. Development of appropriate policy framework to promote such investment with attendant focus on warehousing, customised transportation, product certification, customised outlets including farmer’s markets, etc. is a priority. We have plenty of opportunities in agro-processing industry that can employ hundreds of thousands of youths including educated ones. Only a few companies are operating in the In reality, it’s different – agriculture can market and many more can join and help emerge as a growth driver in the 21st the growth of the sector up to the century. Indeed, re-positioning agriculture potential level. as a growth driver will be critical to any For all these to happen, however, we successful strategy for growth acceleration have to believe that agriculture can be a to meet the goal of high-end middle income new growth frontier. Political and social status. actors need to change their mindset On the ground, there is a silent revolution further towards such a goal. People like brought about by the illiterate peasants, be Shykh Seraj who contributed to making it in the area of adoption of technology or agriculture a popular subject deserve marketing. What has not been done is that appreciation. We must invite we have not been able to undertake policies entrepreneurs to joining the farm sector that could accelerate revolutionary changes not for any charity or philanthropic all over. purposes but for making it a good This, I think, will require overcoming both business for the benefit of all the perception biases about agriculture and stakeholders. Bangladesh’s agriculture prioritising growth-relevant sub-sectors is the next opportunity frontier. such as fisheries, horticulture, dairy, livestock and poultry. For instance, hilsha fish, a special Bangladeshi delicacy, has a business turnover of US$2 billion annually which can increase over manifold. But we have not seen the required investments for exploiting the potentials of fisheries sector as a whole – floodplain fisheries, *Dr Hossain Zillur Rahman aquaculture and marine catch. We have is a former Adviser to the bright prospects of emerging as a major fish Caretaker Government and exporting country, in view of the natural Executive Chairman of Power gift. After delimitation of the maritime and Participation Research Centre (PPRC).

November 2014 ICE BusinessTimes 11 Cover Story

THE BLUE ECONOMY BECKONS New promises of prosperity surrounding the Bay, but how to capitalise on the potentials

By Khawaza Main Uddin Photos by Md. Abul Kausir, M Ponir Hossain & Din Muhammad Shibly

November 2014 ICE BusinessTimes 13 BLUE ECONOMY

The issue of the Blue tanding in front of unique possibilities of immense gains from the Bay of S Bengal, Bangladesh is yet to fully measure what exactly the country would Economy came to the benefit from the potentials of the Blue Economy. There are buzzes in the limelight in Bangladesh development and policymaking arenas as well as on the diplomatic front, about the term. Of course, new enthusiasm has been created among the development context after the thinkers and policymakers – on how Bangladesh could benefit from the Blue delimitation of the Economy. The issue of the Blue Economy came to the limelight in Bangladesh context maritime boundary, after the delimitation of the maritime boundary, especially two international especially two verdicts on disputes with Myanmar and India. This has opened up newer potentials of extracting resources and gaining otherwise, also reminding the international verdicts possibility of enhancing existing benefits in terms of natural resources and on disputes with external trade. In fact, Bangladesh, a unique delta, has been blessed with the sea outlet but the potentials in the Bay of Bengal have never been exploited Myanmar and India. properly. This has opened up It was not properly understood that the Bay is a key aspect of the country’s natural resource endowment. Bangladesh’s location in the world’s new centre newer potentials of of gravity, now shifting to Asia, has added a new dimension to the concept of extracting resources the Blue Economy, which should not be limited to the efforts made within the country. There are confusions about what the Blue Economy is for Bangladesh. and gaining otherwise, The ways and means on how to gain maximum from the potentials. also reminding the This situation has otherwise offered opportunities for huge investments, creation of new businesses, fresh employments and regional and international possibility of engagements apart from direct benefits from extraction of marine resources. enhancing existing Experts say the benefits of the Blue Economy would not come automatically. So, it’s important how the country takes preparations, necessary steps and benefits in terms of initiatives at home and abroad to foster development by using the potentials of natural resources and the Blue Economy. And unless a holistic and well-coordinated national plan is external trade undertaken, such potentials may remain only on paper.

14 ICE BusinessTimes November 2014 BLUE ECONOMY

Unraveling along its coastline in Bangladesh, out that the Blue Economy has India, Thailand and Myanmar. The offered unconventional the mystery former diplomat felt that the puzzle opportunities in addition to all Despite its resilience and social surrounding the Blue Economy must existing and other probable benefits sector progress, Bangladesh has the be solved and that the issue must be for Bangladesh. ‘We can extract sea history of being obsessed with terms understandable to all stakeholders weed the way Japanese do for their – such as ‘potential’, ‘development including policymakers, investors healthy nutritional foods. There is a puzzle’, ‘economic emancipation’, and international players to give a huge potential in the coastal belt. ‘floating on natural gas’, ‘next proper signal about Bangladesh’s And we can emerge as a regional investment destination’ and seriousness in harnessing benefits focal point in terms of shipping, ‘regional trading hub’ – instead of from it. trading and other forms of making proper drives for attaining Business leader Abdul Haq pointed connectivity,’ he said. certain goal. Thus, notwithstanding its advancement, has missed a number of opportunities to take it to the next level of development within a generation. The hype that has been created about the Blue Economy in recent times bears some risks of miscarriage of a concept, designed and applied already by some other countries around the world. In Bangladeshi context, however, it’s not yet very clear what the Blue Economy is, according to former Ambassador Humayun Kabir. ‘I am not yet sure what we generally understand by the Blue Economy. As a nation we first need to define what it is and how we can exploit the potentials. Potentials cannot be exploited unless we understand and the potential benefits will not come to us automatically,’ he told ICE Business Times. So far, the discussion of the Blue Economy has been focused more on extraction of marine resources including oil and gas exploration, fishing, sustainable development, banking on the natural environment of the sea (Bay of Bengal in this case). Seaborne trade, which is already there, is also being talked about to bolster the definition of the Blue Economy, somewhat in incubator of Bangladesh’s development literature. ‘The Blue Economy is not the national economy. It’s connected to regional and international context,’ said Ambassador Kabir, now a vice president at Bangladesh Enterprise Institute. The Bay of Bengal itself is the largest one among 64 bays in the world and 1.4 billion people live

November 2014 ICE BusinessTimes 15 BLUE ECONOMY

What’s new? ‘Bangladesh earns substantially by considered English Channel as a exporting marine fishes. It is now strategic advantage. Ambassador The issue of the Blue Economy came more appropriate than ever to rely Kabir pointed out that Bangladesh’s to the forefront of development on ocean resources and Blue Economy is connected to discussion once Bangladesh’s management of such resources Myanmar, India, Thailand, Sri Lanka maritime disputes with Myanmar through the concept of Blue and extra-regional countries like and India were settled in the economy.’ China and the USA. international forum. The new In an article on ‘From Scarcity to The Blue Economy is also part and situation raised the hopes of Abundance’, Ferdous Ara Begum parcel of the post-2015 development smoother access to plenty of marine wrote that the Blue Growth is the agenda. The goal 14 of the proposed resources in the Bay of Bengal. long-term strategy to support Sustainable Development Goals Because, the international court sustainable growth in the marine (SDGs) says: ‘Conserve and verdicts ensured Bangladesh’s and maritime sectors as a whole. sustainably use the oceans, seas sovereign rights over more than ‘Seas and oceans are drivers for the and marine resources for 118,000 square kilometers of Blue Economy while technology and sustainable development.’ One of maritime territory, 200 nautical knowledge are the twin resources to the targets is to, ‘by 2020, miles (NM) of exclusive economic take control over these resources,’ sustainably manage and protect zone, and 354 NM of continental she added. In the light of the concept marine and coastal ecosystems to shelves from the Chittagong coast. developed by Gunter Pauli, the avoid significant adverse impacts, Bangladesh earlier was in a position researcher noted that the ultimate including by strengthening their to extract resources in parts of these aim of the business model of Blue resilience, and take action for their areas in the Bay but since there is no Economy is to transform the country restoration, to achieve healthy and well-demarcated maritime boundary from scarcity to abundance by productive oceans.’ It called on the and rather there were disputes over tackling issues that cause global community to ‘increase claims of the maritime areas with environmental and related problems scientific knowledge, develop Myanmar and India, Bangladesh in new ways. research capacities and transfer faced both physical and mindset The new atmosphere, in which the marine technology taking into barriers in resource extraction that Blue Economy is being widely account the Intergovernmental have now been removed as a result discussed, has reminded the Oceanographic Commission Criteria of the verdicts. policymakers, local and foreign and Guidelines on the Transfer of ‘The delimitation of boundary with investors, businessmen, fisherman Marine Technology, in order to India and Myanmar has created a and many other stakeholders of the improve ocean health and to scope to explore mineral resources fact that the Bay of Bengal is one of enhance the contribution of marine from the seabed without any the greatest gifts of nature to biodiversity to the development of obstacle,’ Prime Minister Sheikh Bangladesh as British Prime developing countries, in particular Hasina told a recent international Minister Winston Churcil had once SIDS and LDCs.’ seminar on the Blue Economy.

16 ICE BusinessTimes November 2014 BLUE ECONOMY Potentials to However, Bangladesh exploit accounts for less than five The Blue Economy is widely defined as the economy of sustainable per cent of around six economic development taking advantage of the blue ocean. Its million tonnes of fish caught sub-sectors include aquaculture, coastal tourism, marine from the Bay every year biotechnology, ocean energy, and seabed mining. Md Khurshed Alam, a secretary (maritime affairs) at the wind, wave, tidal, biomass, and foreign ministry, maintained that thermal conversion and salinity the Blue Economy is not merely gradients. ‘This renewable energy marine fishing. About 30 million sources could help diversify our Bangladesh people depend on energy portfolios and secure higher oceanic economic activities such as levels of energy security.’ fisheries and commercial In the recent international seminar transportation. on the Blue Economy, experts raised However, Bangladesh accounts for a number of potentials like less than five per cent of around six production of industrial salt using million tonnes of fish caught from advanced technologies and the Bay every year. It is said that extraction of other mineral Economy will just elude us. We need India, Sri Lanka, Myanmar and resources beneficial to Bangladesh, massive investment in this area and Thailand used to take major share of such as gas, copper, magnesium, also physical investments aiming at marine fish since Bangladeshi nickel and precious metals, shorter and longer term targets,’ he fishermen could not go beyond 30 including cobalt. added. miles in the Bay with their wooden In the meantime, the government trawlers. As many as 475 species of has taken steps to impart education fishes are found to have been How to in Oceanography at Dhaka available in the Bay. proceed University and Chittagong ‘The Bay of Bengal contains a Dhaka has shown the willingness to University to create skilled wealth of living and non-living utilise the potentials of the Blue manpower on marine sciences. Also, resources. Through proper steps, the Economy and a seminar was reports said, the first National country can harness the potential of organised in this regard recently. Oceanographic Research Institute is marine fisheries, aquaculture, The government has reportedly going to be established in Ramu, marine tourism, the salt and pearl taken an initiative to conduct a Cox's Bazar, to create a marine industries, and ecosystem services survey of marine resources through scientific community for research. with eco-friendly sustainable coordination by the Bangladesh Suggestions also came from various energy,’ said Prof. Dr Nani Gopal Das Navy authorities. International oil quarters for development of existing of Chittagong University’s Institute companies are being invited to the sea ports --- Chittagong and Mongla of Marine Sciences and Fisheries. tenders for exploring natural gas – and construction of a deep sea In an essay on ‘Integrated maritime and petroleum resources in the Bay. port. ‘We have to think of a Master policy to boost Blue Economy’, However, the country seriously lacks Plan focusing on the entire coastal Kamal Uddin Bhuiyan and Md knowledge, skilled manpower and belt and targeting extra-regional Jahangir Alam expressed their views technology to benefit from the Blue players,’ said Abdul Haq. He also that the concept of blue economy of Economy, especially for exploiting underlined the importance of proper Bangladesh could be developed, but deep-sea fishes and seabed land management for setting up should not be ‘limited to, traditional resources. Abdul Haq, a director at industries in the coastal areas and emerging sectors such as Federation of Bangladesh Chambers without affecting the environment shipping and port facilities, of Commerce and Industry (FBCCI), and for building human resources seaborne trade, fisheries, coastal stressed the need for building and physical infrastructures to tourism, aquaculture, renewable manpower through proper technical benefit from regional connectivity. blue energy, biotechnology and and research-oriented education at ‘Potentials are there but they will submarine mining’.They said oceans universities and other institutions. not come automatically. We have to offer enormous potential for the ‘Unless we take preparations in be smart and serious in utilisng generation of renewable energy – terms of manpower, the Blue them.’

November 2014 ICE BusinessTimes 17 BLUE ECONOMY

Challenges Economy,’ she said. Ambassador Kabir is concerned about Underlining the importance of capacity constraints. ‘We need within knowledge of seas and oceans, visionary political actors, efficient Prime Minister Sheikh Hasina, at the Shamsul Alam, a Member of General bureaucracy, investors of real seminar on the Blue Economy Economics Division at the Planning entrepreneurial attitude and acknowledged that Dhaka has a Commission, told a technical innovative development thinkers to dearth of skilled manpower to workshop in Cox’s Bazar said, cash in on the Blue Economy,’ he said. ascertain the availability and explore ‘Investing in our seas - and It was widely known that official the resources. There is also lack of exploring these sustainably - are policies often did not encourage the proper technology for exploiting deep very difficult when we know less businessmen to come up with bigger sea fishes and seabed resources. about them than we do about the investments in extracting resources ‘There is no doubt that we are lagging surface of the moon. We need to such as fishing. Bangladesh also has behind in terms of proper planning, draw long-term action plan so that lack of seafaring ships. appropriate knowledge and methods we can exploit our waters in a Kamal Uddin Bhuiyan and Md for coordinated development of Blue sustainable way.’ Jahangir Alam, in their article,

18 ICE BusinessTimes November 2014 BLUE ECONOMY argued that sustainable blue economy and blue growth for We need visionary political sustainable development is not possible without ensuring maritime security, protecting and preserving actors, efficient bureaucracy, marine environment, conserving marine living and non-living investors of real entrepreneurial resources and preventing marine pollution. ‘Piracy, slave and drug attitude and innovative trafficking, drugs and money laundering, human trafficking, arms trafficking, narco-terrorism have development thinkers to cash become a common phenomenon in the high seas and EEZ areas of in on the Blue Economy Bangladesh,’ they said.

November 2014 ICE BusinessTimes 19 BLUE ECONOMY

Risks of geopolitical trap Let the Bangladesh is in the middle of a strategic shift from the West to Asia and a rising US$100 trillion economy by 2030 and the South Asian geo-strategic country with such a blessing of the sea outlet and prospects of the Blue Economy is also facing some risks of geopolitics. ‘Let the geo-strategic advantages and advantages and the potentials of the Blue Economy not turn into strategic trap, where Bangladesh may be in a shaky position due to the potentials of the rivalry and competition between regional and global actors,’ said economist Hossain Zillur Rahman, adding that it’s time to handle the Blue Economy not whole issue quite carefully if ‘we want to benefit from the Blue Economy instead of sitting idle’. turn into strategic There are apprehensions of even superpower strategic competition, given China’s and Japan’s interests in becoming a part of the growth in trap, where this part of the world, whatever they call it --- Bay of Bengal Industrial Growth or Maritime Silk Route. Apart from two Asian economic Bangladesh may superpowers’ interests, the United States is a key player in its diplomatic pursuit of economic benefits from the Asian growth be in a shaky through US presence in the Indian Ocean, where India, the rising power, is inherently active. position due to Acknowledging the concerns, Ambassador Humayun Kabir expressed his conviction that it would be wrong to embrace an ‘either or’ rivalry and approach if Dhaka wants to really benefit from the Blue Economy. ‘With its history, maturity, and resilience of the people, Bangladesh competition can rather emerge as a strategic bridge between the superpowers for collective benefits,’ he said. Abdul Haq insisted that Dhaka must be between regional ‘very smart’ to benefit from the Blue Economy, through both domestic policies and preparations and diplomatic and investment initiatives. and global actors

20 ICE BusinessTimes November 2014 BLUE ECONOMY

New approach required Experts say Bangladesh must believe that the Blue Economy is an opportunity, realistic opportunity that can be and must be utilised through broad-based national efforts, not a piecemeal initiative or casual efforts. They have underscored the need for a Master Plan, based on consensus at all levels to employ all national efforts for the benefits of all citizens including businesspeople, who would be directly involved in the process of investments, setting up industries and business entities and venturing on entrepreneurial initiatives for capitalising on the potentials of the Blue Economy. The prospective benefits, according to them, are enormous – from fishing to oil and gas exploration, from shipping to tourism, from mineral resource extraction to enhanced intra-and-inter-regional trading, from industrial relocation to inter-connected growth. What is needed is policy initiative to be followed by regulatory and other supports to stakeholders. The concept of Blue Economy is an acid test for both public and private sectors.

November 2014 ICE BusinessTimes 21 Finance

GLOBAL ECONOMIC AFFAIRS Pre-war situation in the financial world – talks of crisis and change

IBT Desk Report

Is the world economy heading for a crisis that may cause sufferings to many and bring long-term changes the way the World War II shaped the global order in the subsequent decades? At least, the global media made a broad hint that the world economy is unlikely to be stable. Global community can see dark forces gathering but lacks the weapons or the will to tackle them effectively. And the global economy faces its biggest test of confidence since the European sovereign debt crisis as investors fear it’s running out of engines. The euro zone, the world’s second-biggest economic area, seems to be falling from a feeble recovery back into outright recession as Germany hits the skids. Italy has been in recession for two years; France’s economy has been stagnant for months. Now that Germany is in trouble, the chances of a Japan-style deflationary spiral have risen sharply. Japan, the world’s third-biggest economy, may also be on the edge of a downturn. Russia’s and Brazil’s economies are stagnant, at best. With Japan and the euro area throwing up fresh signs of weakness, emerging markets such as China are dragging instead of driving growth. The sense of tumult is being exacerbated by war in the Middle East, the standoff in Ukraine, street protests in Hong Kong and the spread of Ebola to Dallas. The worry is that five years since the world limped out of recession, central banks have virtually exhausted their stimulus arsenals if activity keeps fading. That leaves the hopes of financial markets riding on the US to resume its historical role as a locomotive robust enough to pull up demand elsewhere.

22 ICE BusinessTimes November 2014 FINANCIAL CRISIS

Britain’s economy, where output was up 3.2% in the year to June, is growing faster than any other rich country’s. The world economy may not be on the brink of falling back into recession, but it is hardly on fire. The International Monetary Fund, for example, has lowered its growth expectations for this year and next in Europe, Japan and China, among others. And even America and Britain should be wary, especially over tightening monetary policy too quickly. There is a lot that can go wrong—and they The epicenter of the economic don’t want to be dragged back into worries is the euro area, where those woods again. European Central Bank President The annual meeting of the Mario Draghi is trying to tackle the International Monetary Fund voiced weakest inflation in almost five concerns. In fact, the IMF is alert to years as investors bet it will the threat of another financial crisis. deteriorate further amid signs from Christine Lagarde, the IMF’s the powerhouse Germany is now managing director, says inequality faltering. must be tackled. The Fund has Unlike five years ago when they produced papers showing that a proved strong enough to lift the more even-distribution of income world out of its slump, emerging and wealth would be good for markets are now stumbling, too. growth. The words ‘shared Even in China, still growing at a prosperity’ were on everybody’s lips suspiciously smooth 7.5% a year, in Washington DC. there are worries about a property But as some sceptics pointed out, so bust, a credit bubble and a fall in far the fight against inequality is productivity. China’s annual growth currently a phoney war. Lagarde is the slowest since 1990, while talks a good game, but the advice Brazil is trying to escape the her organisation dispenses to recession it entered in the first half individual countries has not really of the year. changed. The message may be: The overall situation has been Lagarde et al are worried about compared with the one prevailing in inequality. But they are not yet the pre-war period in the 1930s worried enough to do much about it. when diplomats attending the There were four things that ensured League of Nations meetings were shared prosperity in the 1950s and desperate to avoid another war but 1960s: strong trade unions; were unsure how to do so. They can redistribution through the tax see dark forces gathering but lack system; higher public spending; and the weapons or the will to tackle curbs on the financial system. them effectively. The hope has been Does the present situation demand that copious amounts of dirt-cheap something new in the form of money will find its way into structural shift or initiative to productive uses, with private correct the flaws within the financial investment leading to stronger and system? Pundits are expected to better balanced growth. come up with the answers or maybe, Now, the biggest reason for the partners of the currently confidence that the storm will prove globalised economy will pay some short lived are signs the US is again price to cope with the unforeseen a potential oasis of prosperity. And situation.

November 2014 ICE BusinessTimes 23 Interview of the Month

NO ‘WAIT AND SEE’ MOOD AMONG FOREIGN INVESTORS Planning Commission’s Shamsul Alam terms 7% growth target realistic, foresees a knowledge-based economy

By Khawaza Main Uddin DR. SHAMSUL ALAM

As the government is Are we as a nation pursuing higher ready to achieve the growth, what kind of middle income country steps the Planning status by switching from replication to Commission would innovation, from lower suggest to increase skills to higher skills? investment by 5% or so Do you foresee a within a short span of knowledge economy time and thus attain soon to overcome the so-called middle Expansion of the middle class will the targeted growth of enhance the demand for good over 7%? income trap in course governance that includes more All our efforts have been undertaken of time? participation of the civil society in to attain energy sufficiency to spur We will be a middle income country Ethe state affairs, says Member of private investment including by all its definition by 2021, no General Economics Division at the increased bank credit to the private doubt on that. We first need to pass Planning Commission Professor sector. Exports and remittances, two the stage of efficiency led growth Shamsul Islam. He thinks improving influential growth drivers, are stage then to innovation led growth education quality at every tier, continuously increasing trend. paradigm. We are passing through industry-oriented skills Efficiency in labour productivity is replication state dominantly and development and influx of foreign improving, use of built-in capacity, rapidly transforming to investment will lead to a we have resilient business class, all efficiency-led growth. Improving knowledge-based economy to attain these will lead to around 7% GDP education quality at every tier of the middle income country status. growth in current fiscal year. education, industry oriented skills ‘Mud slinging is not a new development, influx of FDI for phenomenon in our political arena technology transfer at the end will and that should not bother How will the lead to a knowledge based economy. entrepreneurs much. If gas and government see off a electricity supply can be increased, If the proposed local investors would come forward prevailing ‘wait and with increased zeal,’ he told ICE see’ mood among the Sustainable Business Times in an interview. businessmen and Development Goals Referring to the foreign direct (SDGs) are endorsed, investments and foreign aid flow, he investors – both local said there is no 'wait and see' among and foreign – and Dhaka will have to foreign investors and development promote ‘peaceful and bring back confidence? partners. inclusive’ society, The Agriculture University Will you please share Professor, who joined the provide ‘access to government to help set development your ideas? justice for all’ and targets, also justified the relevance Mud slinging is not a new of Planning Commission in phenomenon in our political arena build ‘effective, Bangladesh context, at the age of and that should not bother accountable and free market economy and entrepreneurs much. If gas and inclusive institutions globalisation. Asked about his electricity supply can be increased, reaction to Indian premier Narendra local investors would come forward at all levels’. What do Modi’s decision to dissolve the with increased zeal. Increased FDI you think of these Planning Commission, he said are coming during last couple of politically sensitive ‘Perhaps, this decision has been the years. We received US$ 2.80 billion first blunder of Prime Minister Modi foreign aid in last fiscal year. So, targets? in India in the second decade of the there is no 'wait and see' among Our development goal is peace and 21st Century.’ foreign investors and DPs. people-centric. Expansion of middle

November 2014 ICE BusinessTimes 25 DR. SHAMSUL ALAM

sector in promoting growth and public welfare? Role of Private Sector and Public Sector is complimentary to spur economic growth. Public spending is growing to facilitate Private Sector with required infrastructure, regulatory framework and providing skilled and healthy manpower. The Government has an exclusive role in monitoring product and input markets where producers, consumers and middleman are the stakeholders. People's welfare can be maximised if markets function efficiently. For efficient markets, efficient governance is needed. India’s Prime Minister Narendra Modi has dismantled the Planning Commission terming it an outdated class and elite groups will employment and and socialist concept? continuously exert demand for good Where is the standing governance, the element of which infrastructure and are access to justice for all, industrialisation? and relevance of our accountable and effective Development goals/targets will be Planning Commission institutions, more participation by devised in the 7 FYP considering civil societies in the state affairs. in the pursuit of attaining social cohesion, economic Nowadays, any Government must growth and environmental prosperity and have to pay heed to that demand. compatibility for sustainable economic For this, democratic process of growth. For a sustainable and change in government must have to emancipation of the accelerated growth we have to be ensured. eradicate poverty and create decent people? employments towards an Consequence of Mr. Modi's decision Have you as a focal industrialised economy. has yet to be seen and for that we may have to wait for some time. point of development Perhaps, this decision has been the goals taken into How will you connect first blunder of Prime Minister Modi the role of the private in India in the second decade of the account the 21st Century. India has been blessed implications of SDGs sector and with a long tradition of planned entrepreneurship economic management and attained for Bangladeshi highest ever growth up to 7-8% GDP development to the during recent years. A federal businesses? Will you democracy, of course, can cover up please shed light on overall national the non-existence of a central development? What is planning organisation, the case is proposed goals on different for us though. The end energy, growth and your view of the public outcome is yet to be seen.

26 ICE BusinessTimes November 2014 Sector Focus

Even without a formal industry structure to drive organised growth and without specialist institutions to train human resources, the INFORMALLY advertising sector in the country has revealed itself as an emerging industry in recent years. It has not only facilitated employment of talented individuals, but also helped other sectors to grow. FORMAL Bangladeshi creative works are now recognised internationally. Advertising industry has grown ‘If we compare Bangladeshi ads with that of Thailand, we’re not that good. But compared to India, our ads are of higher standard,’ but lacks policy supports said Aditya Kabir, assistant vice president, strategic planning at Asiatic Marketing Communications Limited, about quality of By Ahmed Sharif Bangladeshi ads. He pointed out, whereas market of Thailand (and also Pakistan) is of moderate size that allows a lot of flexibility, the Indian market is too large, leaving marketers with too much to do. However, the Bangladeshi market, in view of size of the economy, is too small to try a lot of things.

28 ICE BusinessTimes November 2014 ADVERTISING INDUSTRY

Performance and Bangladeshi companies had helped businesses in Nepal, Sri Lanka and Recognition Afghanistan, where the companies International recognition of had to compete with big players. Bangladeshi ad agencies has come in Some Bangladeshi ads were also the form of various awards. Ad adapted for viewing in India. agencies such as Grey, Asiatic and Access to international television Cookie Jar have won global awards. channels, and more recently, Indian ‘Awards are also a measure of Bangla TV channels have had a deep performance,’ said Aditya Kabir, who impact on Bangladeshi advertising has been in the industry for 18 years. industry. Local TV channels are now It’s actually the clients who play the competing against Indian Bangla most vital role in the development of channels for viewership, and this good advertisements. But good also bears an impact on the advertisements are often linked to audience of TV advertisements. ‘You good budgets. ‘There is a positive may even find soon that Star Jalsha correlation between quality and is opening an office in Bangladesh -- cost,’ said Muhitur Rahman They want our business, I’m sure.’ Chowdhury, a deputy manager at Banglalink Digital Communications Limited. ‘For a good quality Milestones advertisement, we may have to Entry of multinational invest in a foreign choreographer, advertisement agencies into foreign models, or even post Bangladesh has revolutionised the production in other countries. Not industry during the last two decades all the facilities are available in or so. There was a time in the 1980s Bangladesh.’ and 1990s when local companies Aditya Kabir added that the clients used to strive to get foreign have to have a mind to appreciate affiliations. Foreign affiliations gave creative works and to take risks. ‘If a local companies an edge in terms of client approaches an agency and providing better solutions to the tells that let’s win some awards. I clients. The market situation don’t think there is a single agency changed with the entry of Grey in in Bangladesh which won’t give 1996, followed by Ogilvy & Mather, everything behind it.’ Bates 141, Maxus, Mindshare, and The agencies are getting confidence others. More are coming as well. and becoming more focussed on They all have seen the potential of creative works, thanks to support this industry in Bangladesh. from clients. ‘Some big local ‘Creative agencies are developing companies are realising the anew because of the multinationals importance of brand positioning and influx of new ideas that have because of competition in the market demand,’ said Muhitur Aditya Kabir market,’ said Vashkar Abedin, who Rahman of Banglalink. has been in ad industry for more The advent of a new generation of ‘If a client approaches than 15 years. However, Gousul local advertising professionals also Alam Shaon, Managing Director of started changing the landscape of an agency and tells Grey Bangladesh, complained about the industry since the mid-2000s. a lack of remuneration from the ‘Professionals who entered the that let’s win some clients for providing quality market between middle and late awards. I don’t think services. ‘The kind of payment the 1990s, began to mature in the clients pay for the kind of work we mid-2000s. These people were there is a single do for them is not fair.’ exposed to boom in global media,’ Another measure of performance is said Vashkar Abedin. ‘Until then the agency in Bangladesh beyond the boundary acceptance Indian professionals used to lead the which won’t give that Asiatic, Grey, Adcom, strategy in this industry and the Benchmark, Unitrend and others are matured local professionals have everything behind it’ exploring regionally. Ads made by replaced the Indians since then.’

November 2014 ICE BusinessTimes 29 ADVERTISING INDUSTRY

content and online-offline Trends integration. He explained that the Advertisement budgets are getting TV should be redesigned in the dispersed for competition among too future for the sake of sustenance many local TV channels and their while the print media would have to fragmented viewership. And foreign come up with new ideas to survive TV channels have complicated the in this era of digital media. matter. Gousul Alam Shaon of Grey In Bangladesh, all industries – feels that the local media need to telecom, FMCG (Fast Moving compete with the foreign media to Consumer Goods), banking and attract attention of viewers. ‘The impulse products – have contributed only way to find the influence that to the development of ad sector. ‘The Zee Bangla and Star Jalsha have is banking sector keeps the brain clear, to improve our content.’ However, FMCG keeps our enthusiasm going, the case is not the same for the local impulse lets us do what our heart newspapers, as foreign newspapers wants to, and telecom keeps our do not have any market in business running,’ observed Aditya Bangladesh. Only some world Kabir. Grey’s Gousul Alam Shaon Gousul Alam Shaon famous magazines and an Indian predicted that ‘we would probably lifestyle magazine have some see a rise in the retail sector. In ‘we would probably readers in Bangladesh. different categories, we’re seeing In the ad industry, specialist how retail is mushrooming. It’s see a rise in the retail companies are coming up with bound to happen.’ specialised services. Just one and a sector. In different half decade back, there was no PR Pool of manpower categories, we’re (Public Relations) agency as such. Industry people agree that there is a Now there are many — Masthead, lot of talent in Bangladesh. Quite a seeing how retail is Cogito, ForethoughtPR, Benchmark, few talented individuals have come Impact, Watermelon, Concito and so back after getting educated in mushrooming. It’s on. reputed foreign educational bound to The boom in the telecom, Internet institutions including film and connectivity and the social media media institutions. Despite the happen’ has led to the boom in digital demand for such talent in the marketing. Companies such as market, it is only natural that not GroupM, Asiatic Digital, Cookie Jar, everyone has the opportunity to go Webpers, Analyzen, Magnito and abroad for studies. So, there is no Maverick are crowding this market. alternative to local education. ‘We’re A globally reputed company, suffering in the area of human MediaVest has just entered the resources,’ said Gousul Alam Shaon market. of Grey. ‘There is no institute here to Online ads and telemarketing learn advertisement and brand companies are making their management. People are learning presence felt even though the budget after coming to the agencies.’ in such areas is still trivial compared It’s still not a formal industry. Lack to TV ads. G&R, mADmart, SSL and of unity among the players is some others are pushing growth. evident in the absence of a formal ‘The latest trend is Internet,’ said association of them. Everyone feels Muhitur Rahman of Banglalink. the necessity of regulations, Importance is also given to event guidelines and supervision and and activation. ‘Event, activation, policies are needed. Some of them sampling, door-to-door sales, say the government should allow one-on-one communication – these businesses to spend some foreign are always seen by clients as safer,’ currencies to promote and explore said Gousul Alam Shaon of Grey and business. None of the ad agencies is predicted more growth of online listed with the stock exchange advertising, apps, games, online unlike the case in other countries.

30 ICE BusinessTimes November 2014 ADVERTISING INDUSTRY

The lack of a formal structure is not assigned to interns. ‘Most interns helping to create a good platform for focus on their certificates – their nurturing new talents. It’s high time period of stay and number should be to set up an advertising school in the determined by agreement with country. ‘After all, this is a Tk universities,’ said Vashkar Abedin. 2,500-3,000 crore market. Such a There is a problem with study of large industry should afford an brand as most institutes are institute,’ said Gousul Alam Shaon. focussed on marketing. ‘It becomes ‘Now we have to develop a much easier if you get a good writer or a better relationship with universities, good visual artist, who can be so that we can start recruiting from adapted to advertising works. But there,’ said Aditya Kabir. Some of we’re not at all getting people for the universities are nowadays strategy,’ Gousul Alam Shaon bringing in facilitators with regretted. Also the industry has to experience in the ad industry but grow further to draw the talents Vashkar Abedin their number is inadequate, said although its growth is also linked to Vashkar Abedin. the economic growth. If businesses ‘Most interns focus on grow, advertisement industry will Drawing Talents grow simultaneously. And a bigger their certificates – their Top-ranking Ad agencies have a industry can attract more talents painstaking recruiting process. The from the market. On the bigger period of stay and agencies, too, always find it difficult landscape, a pool of quality number should be to fetch the right people. ‘Graduates manpower suitable for creative from madrashah to electrical works also depends on quality of determined by engineering work here. This secondary and tertiary education. agreement with industry requires no definitive background,’ said Aditya Kabir. The industry people still see bright universities’ Mostly non-creative works are prospects of growth.

November 2014 ICE BusinessTimes 31 Regional focus

THE TEST OF MODI-FICATION OR MODI-NOMICS How the Indian premier is pursuing his economic goals

An IBT Desk Report

32 ICE BusinessTimes November 2014 INDIA’S ECONOMY

The Bharatiya Janata Party's (BJP) country, which has the world's the Confederation of Indian success in recent Maharashtra and fifth-largest coal reserves but is the Industry. Haryana state elections capped world's third largest importer. Analysts said the moves would be several days of action on the However, the government does plan particularly helpful to millions of economic front and has given to sell 10 percent of its majority small-scale manufacturers across Premier Narendra Modi more room holding in the inefficient behemoth, India. More sweeping and to cut through a thicket of which is plagued by corruption. contentious changes, however, are regulations and state controls that Unions oppose the sale. The unlikely to be announced before the which he says holds back Asia's Supreme Court scrapped the licences conclusion of state elections next third-largest economy. ‘Using an for 214 coal fields that supplied year. executive order, the cabinet agreed power, cement and other companies to allow private Indian companies to over allegations of graft. The External Issues mine and sell coal at an unspecified executive order, known as an In his short time as prime minister, future date,’ Finance Minister Arun ordinance, takes immediate effect Modi has traveled to Japan and the Jaitley said in a recent press but must be approved by parliament United States for meetings with conference. That sets the stage for within a few months. Modi's Prime Minister Shinzo Abe and the biggest liberalisation of the government will have to win President Obama and has hosted industry in more than 40 years. cross-party support for its plan, China’s leader, Xi Jinping, in New In the first year, when people expect since it does not have a majority in Delhi. A central element in Modi’s lot of reforms and there is lot of Rajya Sabha. summitry has been obtaining popular support behind the reform investment commitments; he’s thus process, it is more easily possible. Planning for Greater far gotten a total of $100 billion, Modi was elected in May on Things according to his own count. ‘Now it promises he would create jobs and is the turn of the states to capitalise rejuvenate the Indian economy, but ‘For the success of ‘Make in India,’ ease of doing business should be on the opportunity,’ he says. ‘The investors and economists were roads are wide open. The states that disappointed by his first budget and given priority,’ said Modi, who was elected on a platform of are ready can walk away with a a lack of early progress on fixing major share.’ Whether India’s state structural economic problems. In development and job creation. He emphasised that labour issues governments take advantage of the September, he had gone some way opportunity depends on whether towards quelling those concerns, needed to be seen from the perspective of workers and not they ‘de-bottleneck,’ make available putting in a reform-minded team at land, build infrastructure, and issue the finance ministry that includes industrialists. He announced a programme for skills development, permits. prominent economist Arvind Rajeev Malik, an economist with the Subramanian to help formulate the in which the Labour Ministry will finance the first two years of firm CLSA, thinks that, given the budget and policy. current trends, 2016 will be ‘a big The economy is showing some signs training for apprentices in manufacturing units. kicker’ year. He predicts 7.2% growth of revival and inflation has then. He forecasts China’s will be at plummeted, aided largely by a drop He also promised easier portability of payroll-financed pension savings 7.1 percent. In a decade, India could in global oil prices. Modi also begun have both the world’s biggest an overhaul of creaky labour rules, when people change jobs and move between states by using a universal population and fastest-growing cutting the power of labour major economy. Yes, it’s premature, inspectors and slashing the red tape account number. Because of the difficulty of transferring money, but we can see why Modi talks about for small companies that makes their era as ‘India’s century.’ India one of the toughest places in about $4.4 billion in such funds lies in inoperative accounts, where With reports coming out that Xi will the world to do business. unveil plans to invest a staggering Former Prime Minister Indira Gandhi workers cannot obtain access. ‘I want to return the money to those $100 billion plus in India over five nationalised the coal industry in years—an average amount that is 1972, creating one of the world's poor people,’ Modi said. The announcements were greeted more than twenty times China’s largest mining companies, state-run investment into India in 2013, it Coal India. The system was intended positively by Indian business interests, which have been lobbying does seem that his policies with to provide steady supplies of fuel bordering countries are on the right and help industrialisation, but Coal for a change in labour regulations. ‘This is something industry would track. China’s investments would India is now deeply dysfunctional. focus on industrial parks, Most of India's electricity is welcome very strongly and has been awaiting for a long time,’ said infrastructure, and key sectors generated by coal, but long power including power, manufacturing, cuts are the norm in much of the Bidisha Ganguly, chief economist at

November 2014 ICE BusinessTimes 33 INDIA’S ECONOMY

leaders will be able to make any progress on those issues. Xi and Modi are sending a strong signal that they are ready to move forward on mutually beneficial issues even as tensions persist on other fronts. Strengthening economic ties between the two countries is a prudent way to build trust and develop interdependencies that may well deter future conflict and competition. A bilateral economic agenda that matches the size and trajectory of these two neighboring economies has long been missing. Strategic skills Modi has also moved to eliminate state controls on diesel prices for the first time in over a decade, while also increasing prices for natural gas. The change ‘should offer fiscal savings over time that can be used for more productive uses, such as public investment,’ wrote HSBC food processing, and automobiles. economists Frederic Neumann and Xi will commit Chinese investment Prithviraj Srinivas in a report. While of more than $7 billion for two Modi’s predecessor, Manmohan industrial parks to be located in the Singh, can take credit for coming up Indian states of Maharashtra and with the policy, Singh was too weak Gujarat. by the end of his term to push Xi and Modi have been central through ambitious changes. Now figures in this bilateral economic Modi can be the reformer. awakening. In these two new In a democracy, it’s no small thing to executives, India and China have raise prices on consumers who are politically confident leaders who also voters, and Modi deserves share a commitment to improving credit for his willingness to push bilateral ties with the other country, ahead with potentially unpopular especially on economic issues. reforms. However, he can also afford Modi’s economic engagement with to take the risk now, safe in the In a democracy, it’s China while he was Chief Minister of knowledge that many Indians won’t Gujarat raised hopes that he would feel much of a pinch, thanks to the no small thing to look to bolster economic ties with global plunge in oil prices. The price China. And within months of Modi for Brent crude oil has dropped 22 raise prices on being sworn in as India’s Prime percent this year. After hitting a low consumers who are Minister, China and India of $83.78 in September, Brent crude announced a major collaboration – has rebounded a bit to around $86, also voters, and BRICS Bank. but this is still the cheapest that oil These developments represent a has been since 2010. ‘The beauty is Modi deserves credit critical and pragmatic shift in policy that, with the current drop in crude for his willingness to for both countries, with economic prices, there will be no immediate cooperation finally being given sticker shock to consumers,’ wrote push ahead with priority. Border disputes and the HSBC economists. Indeed, diesel security concerns have repeatedly prices will fall around 5 percent, potentially unpopular stymied bilateral relations, and it even with termination of the reforms remains unclear whether the two subsidies.

34 ICE BusinessTimes November 2014 Photo Feature ROOTS OF BOTTLENECKS Too many modes of vehicles are choking Dhaka city

Photos by Md. Abul Kausir, M Ponir Hossain & Din Muhammad Shibly Text by Wafiur Rahman

November 2014 ICE BusinessTimes 35 MODES OF VEHICLES

The transport system of Bangladesh consists of roads, railways, inland waterways, two seaports, maritime shipping and civil aviation catering for both domestic and international traffic. Development and maintenance of transport infrastructure in the country is essentially the responsibilities of the public sector. The public sector is also involved in transport operations in road (including railway), inland water transport (IWT) and ocean shipping alongside the private sector. In the road transport and IWT sub-sectors, the private sector is dominant. In ocean-going shipping, however, public sector is still dominant, although the private sector has considerably increased its role in this sector in recent years. The private sector has also been involved of late in domestic air transport and railway in a very limited scale.

36 ICE BusinessTimes November 2014 MODES OF VEHICLES

November 2014 ICE BusinessTimes 37 MODES OF VEHICLES

The urban transport issues of mobility, congestion, safety and environmental aspects are becoming increasingly important and critical to Bangladesh. The rapid urbanisation process, high vehicular population growth and that of the mobility, inadequate transport facilities and policies, varied traffic mix with over concentration of non-motorised vehicles, absence of dependable public transport system and inadequate traffic management practices and parking facilities have created a significant worsening of traffic and added environmental problems in the major urban centres, Dhaka in particular.

38 ICE BusinessTimes November 2014 MODES OF VEHICLES

November 2014 ICE BusinessTimes 39 MODES OF VEHICLES

Road accidents, air pollution due to vehicle emissions, hazardous vehicle driving/operations and overloading are some of the most common phenomena, in transport sector, particularly in the urban areas. These phenomena have actually developed due to lack of enforcement of existing rules and regulations with regard to transport operations in the country. While overloading of buses, rash driving of trucks and unworthy vehicles are supposed to be stopped by law enforcing agencies, very little effective measures are actually taken in this regard. The goals of an efficient transport system must be linked with fostering economic development, enhancing quality of life and environment, reducing energy consumption, promoting transportation-friendly development patterns and encouraging fair and equitable access and safe mobility to residents of different socioeconomic groups.

40 ICE BusinessTimes November 2014 ELECTRONICTechnology MONEYWatch

SCI-FI AND THE TECHNOLOGIES -MONEY The prospects of cash and electronic money

By Ahmed Noushad

Tech is a trend. Tech is a symbol of T mordenisation. Tech signifies a country’s development prospects and it essentially determines the social and economic status of individual. The more techs you dwell in, the higher you are in social aspects. We involve in various forms of technology to make our life easier, some might say even more balanced. There are controversies to this statement, but science has developed things to make things easier and efficient in the first place. But when science started to make an innovation that replaces, everything falls in questions.

November 2014 ICE BusinessTimes 41 TALENT INVESTMENT

Money itself is an ancient plastics found their way to other companies successfully offer technology that perhaps made life vulnerability, a new form of money their own brand of digital cash, they easier and more measured. So much has emerged to become the next could bypass banks as primary measured that we even indulge God replacement. providers of consumer financial in to this measurement by saying Wolman describes meeting services. The companies, not the ‘God will measure every penny we electronic experts in Japan who are banks, might be consumers' first spent’. Although lifestyle was all developing biometric technology to contact when they wanted to obtain about bartering things in the make our easy plastic payments some digital money’, writes Kelley history, the introduction of the even easier. ‘One of these Holland and Amy Cortese with concept of money has put everything technologies uses the unique bureau reports at Business Week. in to measurement, making life three-dimensional pattern of veins ‘Banking is essential to the modern more accountable and measured. At within every person’s fingertip. economy, but banks are not,’ says J. least it was material or partly Touch your finger to a register, Richard Fredericks, senior managing material as of today, but science has vending machine or subway director at Montgomery Securities. even bigger plan, which is the total turnstile and you can instantly Wolman writes in favour of replacement of material money with settle up without having to break transformation, ‘The challenge of electronic money. Wolman, a your stride. . . . I have a hard time convincing people that a technology contributing editor at Wired seeing this kind of technology as is trustworthy is nothing new. . . . magazine, writes: ‘Although negative,’ he says. Whether this is Luckily, humanity has a solid track predictions about the end of cash are ironic or a pleasing upgrade depends record of warming to innovations, as old as credit cards, a number of on how you look at it. Electronic including money-related ones’. ‘I’ll developments are ganging up on money perhaps and might as well concede that point. It was only paper and metal money like never change the way business is done, recently that I felt comfortable before: mistrust of national but on the other hand to look from depositing checks at an ATM’, writes currencies, novel payment tools, barter’s perspective, lots of social Michelle Singletary, Columnist at anxiety about government debt, the and moral issues would be out of Washington Post. She adds in triumph of mobile phones, the rise measure. For instance, in defense, ‘David Wolman can of virtual and alternative currencies, Bangladesh out of sympathy or envision a time when we won’t need environmental concerns, and a wave whatever reason it is, we often tend to use cash. In his cashless society, of evidence showing that physical to neglect minor balances in favour people can text money. But I’m not money is the most harmful to the of the seller, which would just be buying it. Didn’t we learn something billions of people who have so little another calculation in the E-System. from the Great Recession, when an of it’. This is supportive to the Besides, ‘the growth of E-money over-reliance on all things not cash scenarios we have here in could also be bad news for banks. If nearly took down our economy? Bangladesh. How safe would you be The story doesn’t end there; this to walk around with cash? The transformation is bound to happen transaction hours of Banks are anytime. The concept of electronic always on the office schedule, and money has been introduced a couple Banks are closed on weekends, of years ago, it is still on test leaving us in the mercy of night to awaiting mass-acceptance. But for a walk with material money. It is only country like ours, this is a massive obvious that a piece of plastic would turn and might risk the economy for look safer compared to a bundle lifetime. properly staked papers. And when

42 ICE BusinessTimes November 2014 Branding

EYE-OPENERS Brand is more than a logo

By Aftab Mahmud Khurshid

‘If you take a lousy low-profile company and give it a major corporate revamp, you end up with a lousy Ihigh-profile company.’ --- Wally Olins. Branding is viewed as a buzzword to the corporate giants in this modern world of business. In order to get attention, one is required to create awareness and gain publicity. But in today’s competitive market, it’s not only necessary for big corporations but also for small enterprises that are fighting for survival and continuously positioning themselves to get the mind share of the common masses.

November 2014 ICE BusinessTimes 43 BRAND MARKETING

One of the great proponents of undertake corporate identity corporate branding has been Sony exercises, they are usually Corporation. The late founder and modernising their visual image in chairman of Sony, Akio Morita was terms of logo, design, and quoted as saying, ‘I have always collaterals. Such efforts do not believed that the company name is normally entail a change in brand the life of an enterprise. It carries values so that the heart of the brand responsibility and guarantees the remains the same - what it stands quality of the product...’ for, or its personality. Unfortunately, As Bob Izsak, the president of a many companies do not realise this Toronto-based consulting firm said, fallacy, as they are sometimes led to ‘A brand is a precious asset, and not believe by agencies and consultancy to be confused with simply a logo or companies that the visual changes a name.’ In fact, branding covers will change the brand image. But any aspect of a company’s image changes to logos, signage, and even that creates emotional attachment outlet design do not always change Mass advertising to a product or service. That is why consumer perceptions of quality and branding is very important and it is service. can help build highly recommended to seek the Name development, organisational advice of experts when considering systems, the tone and style of your brands, but branding strategies, now a highly internal and external specialised field of marketing communications - these are the authenticity is communications. elements of verbal branding, the Dr. Paul Temporal mentioned translation of your brand strategy what makes thoroughly in his branding tips into language that clearly article that, Brand identity is the communicates the brand's essence. them last. If total proposition that a company Rightly managed brand name is one makes to consumers – i.e. the of a company's most valuable and people believe promises that it makes to its valued vital assets. Image is more than a customers. Brand image, on the logo. they share other hand, is the totality of A good corporate image can improve consumer perception about the sales, support new product values with a brand, or how they see it, which may development, strengthen financial not coincide with the brand identity. relations, boost recruitment and company, they Corporate identity is a visual means manage crises. ‘Strong brands will of identifying a corporation, continue to play a key role in the will stay loyal to company or organisation. Logos and shopping basket. They will be as names are a very obvious part of an relevant in five or ten years’ time as the brand. organisation’s identity. It cannot they were five or ten years ago.’ said therefore be used as a short-term Michael Birkin, which is true in tactical tool like advertising or PR or every sense. Organisations are continuously any one off event activities. If Brands ultimately secures the future striving to improve their Brand allowed to fall into disarray or of a company. Building brand is image. Motivated employees tend to disrepair, it can, like other assets, building business; anyone can start win prospects, hearts and souls. A eventually become a liability by a business but secret lies in Corporate brand proudly represents projecting an inappropriate image. marketing. If you are an what we as a company stand for. That is why corporate image entrepreneur or want to be an This is a vital part of Branding as it building; image marketing and entrepreneur, you need to know the makes the Brand Mark a priority in image keeping are very crucial secret of success, i.e. marketing the minds of the consumers, factors. mastering. As Howard Schultz once enabling the company to take lead It is important to distinguish said, ‘Mass advertising can help and stay one step ahead than the corporate identity, brand identity, build brands, but authenticity is competition. Let me concluded by a and brand image from each other. what makes them last. If people quoting David Ogilvy: ‘Any damn Corporate identity is concerned with believe they share values with a fool can put on a deal, but it takes the visual aspects of a company's company, they will stay loyal to the genius, faith and perseverance to presence. When companies brand.’ create a brand.’

44 ICE BusinessTimes November 2014 Entrepreneurship

FOR THE NEXT LADDER Bangladeshi women need to be supported in jobs and businesses

By Doulot Akter Mala Photos by Din Muhammad Shibly

Two of Bangladesh’s three key sectors – garments, microcredit and remittances – have developed with the participation of women as workforce and as micro-entrepreneurs. Women are joining their own businesses apart from increasing employment in the corporate sector. Perhaps most importantly, some Bangladeshi women have established their positions in top political leadership – the Prime Minister, a former prime minister, the speaker of parliament and a few other key official portfolios. Still, the United Nations pointed out, women are in some cases facing repression due to inequality between men and women even though the global body lauded Bangladesh’s performance in women’s empowerment.

November 2014 ICE BusinessTimes 45 WOMEN EMPOWERMENT

but also elsewhere in the world. According to UNICEF, women do 66% of the world's works, but they earn only 10% of the global income. Women make up 50% of the workforce, have higher education levels than men and are often the primary breadwinners in their families and yet they end up being underpaid and under-represented in the workplaces. The progress report-2013 of the General Economics Division (GED) of the Planning Commission has pointed out some challenges with regard to reducing income inequality on attaining Millennium Development Goals (MDG) and expressed concerns about low economic participation of the women. The report said wage According to the Organisation employment for women in Bangladesh is still low. Only one for Economic Co-operation and woman out of every five is engaged in wage employment in non-agricultural sector. Development (OECD), if Some business houses prefer recruiting men than women in developed countries raised white-collar jobs, given the compulsion to provide six-month women employment rates to maternity leave to women. This provision made by the government those of men they could has negative implications for women while securing a job although hardly increase their gross domestic anyone would acknowledge this. We as reporters have witnessed that product (GDP) by 12% by 2030 some firms are avoiding recruitment from female candidates. The companies that have hired women as Bangladeshi women have also led the employees are found to be immensely process of expansion in literary benefitted – Women have proved across the country by supporting their themselves to be sincere and decent families and contributing to workers or officials that could education programmes. In business, ultimately contribute to bringing the women have made initial progress gender parity at workplaces and and received recognition from homes. policymakers for accessing financing According to the Organisation for and regulatory support. But there are Economic Co-operation and practical problems that constrained Development (OECD), if developed their journey forward and in a countries raised women employment historically male-dominated society – rates to those of men they could anywhere in the world – it’s hard to increase their gross domestic product bring a radical change in culture of (GDP) by 12% by 2030. Other studies, accepting the women as prime actors such as a recent report from McKinsey in mainstream economic activities. & Co., say having more women in the Wage discrimination is a critical issue workplaces could lead to higher that shows how the women are being productivity and efficiency. undermined not only in Bangladesh We have seen a wide gap between

46 ICE BusinessTimes November 2014 WOMEN EMPOWERMENT men and women in top policymaking leaders from all backgrounds. This situation. There are platforms for administrative positions although doesn’t mean that companies have to protecting women rights in the the government is trying to bridge promote female employees just country that need to be strengthened the gap. The proportion of seats held because they’re women. Current for employment empowerment of by women in parliament doubled leaders should be trained to “think women. from 10 per cent in 1990 to 20 per outside the box” when searching for Fazlul Hoque, a former president of cent in 2011. In the administrative new talent from young pool of boys Bangladesh Employers Federation, posts, secretaries account for 4.29% and girls. Companies need to create said employment situation for additional secretaries 5.06%, joint an atmosphere where women could women has improved over the years secretaries 11.61% and deputy believe they hold the leadership due to gradual changes in the secretaries 11%. positions. mindset of the society. ‘I have seen However, companies have better In Bangladesh, it is heartening to many of the highly educated women scope to accommodate women in key note, participation of women in quit jobs in Bangladesh after getting positions as well as in different corporate houses, the media and in married due to social reasons,’ he levels since women are having the overall private sector is said adding that both the women similar qualifications, capabilities increasing day by day. At this stage and their family members have to and education as their men of growing participation of women, change their mindset for serving an colleagues. They (companies) just they need a bit of policy support to office or building a career apart from need to have a strategic framework survive and thrive in the jobs. their responsibility of raising their for gender diversity, with goals, Women are yet to find a balanced families. targets, sponsors, and support networks, and with clear leadership from the top. To ensure an enabling atmosphere for advancement of the women in the workplaces, companies could impart adequate leadership trainings. Bangladeshi companies may follow the examples set by the global corporate giants and how they framed their strategies for promoting women leadership. In 2011, Walmart launched a three-part initiative that focused on training and increasing the number of women suppliers it uses. Mining group Rio Tinto has clear targets to have women represent at 20% of its senior management and 40% of graduates hired by 2015. Goldman Sachs launched the 10,000 Women initiative in 2008 to provide training and networks to women entrepreneurs in developing countries. Last year, Intel launched a technology programme that aims to train 5.0 million African women to use the Internet by 2016. As companies grow and become more powerful, they play vital roles in closing the gender gap. Women should get a seat at the economic table of the companies, if they truly want to be competitive. When it comes to recruiting and promoting women talent, those in leadership positions need to keep a close eye on potential women

November 2014 ICE BusinessTimes 47 The Big Idea

NEVER TOO LATE Why Bangladesh needs Entrepreneurship Incubation Centres

Business incubation programmes Popular in Western and Far Eastern fund fledgling businesses. Companies are often sponsored by private countries, Incubators provide typically spend an average of two companies or municipal entities and numerous benefits to owners of years in a business incubator, during public institutions, such as colleges startup businesses. Their office and which time they often share and universities. Their goal is to manufacturing space is offered at telephone, secretarial office, and help create and grow young below-market rates and their staff production equipment expenses with businesses by providing them with receive advice and much-needed other startup companies, in an effort necessary support and financial and expertise in developing business and to reduce everyone's overhead and technical services. marketing plans as well as helping to operational costs.

48 ICE BusinessTimes November 2014 TALENT INVESTMENT

They have become an integral part difficult, as most NIB officials These centres of the business assistance themselves live in Dhaka. Yet it is a framework to offer critical support start. But for NIB to develop, some provide start-up to newly formed enterprises. mechanism needs to be put in place Recognising its importance, all whereby personnel can start businesses with major stakeholders are trying to learning the ropes from people with define, identify, measure, formulate experience in running incubators in a variety of and evaluate various aspects related Bangladesh. Expertise is available to these programmes. Business in the region which can also be services such incubation initiatives have arisen tapped into with ease. especially over the last decade with Although this is a recent as physical varying degrees of success in phenomenon in the country the different parts of the world. Many initial success is not meagre. Take space, office countries including India are still the examples of banglarestora.com experimenting with it to foster or Creativa.Asia. These companies equipment, entrepreneurship. started off with just an idea and a lot While the Indian government is of energy to drive forward. However, business trying to aggressively promote they did not know how to register as entrepreneurship, the entrepreneurs businesses nor had they had any services, continue to face numerous clue how to bag businesses once challenges and the new venture they were registered. However, with management failure rate is very high. In view of the help of one private sector this, the Business Incubation incubator, both businesses are guidance and Centres have assumed a lot of generating income today, creating significance as they provide an jobs for people and adding some an enabling enabling environment to deal with value. the difficulties in the process of Creativa.Asia is an interior design environment to entrepreneurship by providing and event management business comprehensive and integrated entity which finds most of its clients facilitate their support to the entrepreneurs, through the network the incubator thereby reducing the new venture maintains. Another incubatee of the development failure rate substantially. same incubator is One Light Studio These centres provide start-up whose business is rural housing. It until they are businesses with a variety of services works in the villages of Bangladesh, such as physical space, office where no architects or engineers capable of equipment, business services, step foot. Combining the technical management guidance and an with local knowledge of building surviving on their enabling environment to facilitate houses, they assist to build homes their development until they are with organic materials that emit own after exit capable of surviving on their own zero carbon. They can help a villager after exit from the incubator. At the build a two-storied house for seven from the macro level, they regenerate public people at the cost of only Tk. confidence in entrepreneurship and 200,000. incubator help create an entrepreneurial Examples like these are only handful environment. because we do not have as many incubators as we should. If a country Why do we need it? like Indonesia can have about 500 Moving back to the Bangladesh incubators how many should scenario, it is good to learn that the Bangladesh have? A few young Conception and prime minister has urged the innovators have taken up the Results National Institute of Biotechnology challenge but the government should Business Incubation Centres have (NIB) to start a biotech incubator. step up and set up incubators in the been receiving increasing attention True, that NIB has all the modern public-private-partnership modality. as a tool to promote facilities and equipment in its It also needs to come up with detail entrepreneurship, both in the Gonokbari, Savar campus. Intention policy guidelines to help facilitate an developed and developing countries. is noble, but implementation will be incubation ecosystem.

November 2014 ICE BusinessTimes 49 Business Prospect

urbanisation, this flagship project of Cityscape International Limited DREAMING strives to encourage other corporate entities to be involved in the green business. GREEN, FOR Cityscape Tower – considered a very unique & prestigious building in view of its architecture, interior, LIVEABILITY landscaping, design, material, security system – is an icon of Cityscape shows dreams of future eco-friendly commercial establishment in the country. This project accurately places Bangladesh construction business in the world map of modern, sustainable futuristic construction. By Ahmed Noushad This high-tech green building ensures up to 44% & 60% less energy and water consumption respectively. It has its own energy generating system powered by rooftop solar panels and looks elegant with its heat-insulating wooden cladding. The premise is further equipped with Rainwater Harvesting System, Water Treatment Plant, Sewerage Treatment Plant, HVAC air-cooling system to improve indoor environment quality. Proper security for the occupants is ensured through Under Vehicle Surveillance System, close circuit camera with 37x zooming and world class access control system. This information was presented during the press release. The spokespersons of the Every country has a landmark, not green tower in Bangladesh, The organization have also mentioned just those that symbolises a country Cityscape Tower. This commercial that the building is now ready for or history, but those that convey the building is to pursue LEED Platinum inspection and purchase by message for development and Certification under the Core and potential customers. prosperity. I could sort our many Shell category by the United state Cityscape international hopes that monumental examples from the Green Building Council. renowned corporate giants would West and the Far East, like the Cityscape hopes to transform the set up offices in this esteemed Windmills at Kinderdijk, The Great Dhaka city into a more liveable form environment, with regards to those Chinese Wall, Cape of Good Hope in by initiating the green building associations that are dedicated or South Africa, Golden Gate Bridge in project. The authorities hope their are looking forward to green San Francisco, Atomium in Brussels, initiative would reduce carbon business. The press brief was The Louvre in Paris, and a hundred footprints from all aspects of attended by Managing Director of more. business in pursuit of their vision, Cityscape International Limited - Mr. We have our landmarks too; but and improve quality of life by Nahid Sarwar, Head of Marketing nothing that communicates creating places of distinction and Communications & Sales - Ms. Trina innovation or developmental bringing balance between Falgune, Chief Engineer - Abdur prosperity until now. On a press brief construction and the natural Rashid, Green consultants and on 20 October, Cityscape environment. As a response to faculties of North South University - International Limited shares the burning issues like global warming, Mr. Mujtaba Ahsan and Mr. Shahriar mission to build the first certified sustainability, and rapid Iqbal Raj.

50 ICE BusinessTimes November 2014 Event Spotlight

One of my friends, who, despite being a jazz music aficionado, had barely scraped through his life so far without CLASSICAL listening to Indian classical music. But last year was the time when, at my behest, he attended the 4-day long Bengal ITC SRA Classical Music Festival 2013. After the event had MUSIC ENCORE concluded, his ignorance about how versatile and soothing classical music could be was drawn to his perception. He Bengal Classical Music Festival cited additional reasons for his newly-found love for the Subcontinent’s musical maestros – the event was Bangladesh 2014 well-organised, the crowd was well-behaved and attentive and the event had an aura of educating the audience and promises to deliver big, again showing them how cool classical music could actually be. Countless other people went through the same pseudo-metamorphosis, and to their delight, Bengal By Wafiur Rahman Foundation has brought the event back again this year. It Photo Mizanur Rahman Khoka will begin on November 27, and will go on till December 1. The show will open at 6:30PM daily, (6 PM on Friday 28th and Saturday 29th) and finish the following day at 5AM. Titled ‘Bengal Classical Music Festival Bangladesh 2014’ and dedicated to the eminent folk poet and lyricist Jasimuddin, it is being presented by Square Group. BRAC Bank Ltd is supporting the event.

52 ICE BusinessTimes November 2014 BENGAL CLASSICAL FESTIVAL

Just like the previous two occasions, it will be held in the Army Stadium. After massive response from the audience and well-wishers, the event has extended itself to a five-day long musical bonanza (the initial festival in 2012 was three days and four days last year.) When it had initially begun in 2012, the festival’s purpose was to bring back the general listeners to classical music and enlighten today’s generation about the structures and technical beauty of it. Their success was amplified given their enthusiasm, disciplined Seated from left - Anjan Chowdhury, Managing Director, Square Group, Abul Khair, Chairman, Bengal concentration (given the high Foundation and Syed Mahbubur Rahman, Managing Director of BRAC Bank Ltd - in a press audience turnout,) their patience in conference on Bengal Classical Music Festival Bangladesh 2014 listening to classical music and the ability to be enthralled by the overall festival in the years to come. work this time of the year, so that experience. ‘With all the Subcontinental artists they can come to Bangladesh and The genres of music and dance forms and musical legends gracing us with witness this extravaganza that will be showcased in this year’s their presence again this year, firsthand.’ festival include Bharatnatyam, Bengal Foundation has achieved a Abul Khair, Chairman of Bengal Kathak, Dhrupad and Kheyal. There hat-trick of successful organising,’ Foundation, spoke about his vision is a substantial presence of Carnatic said Sadya Afreen Mallick, Editor of behind initiating the festival. “Many music - violin, percussion and vocal. Arts and Entertainment at The Daily of the greats who introduced Indian Instrumentals will include solos and Star. She also thanked Bengal classical music to the world, had duets in the Sarod, Violin, Tabla, Foundation for proving that there are their roots in East Bengal, but they Sitar and Slide Guitar. Returning still a good number of listeners of moved in the wake of the Partition. I maestros will include Ustad Shahid classical music in Bangladesh. wanted to revive interest in classical Parvez Khan (sitar), Vidushi Girija Sajjad Sharif, Managing Editor of music, and I knew that the only way Devi (kheyal and thumri), Pandit Prothom Alo, had perceived Bengal it could be done would be to give it a Shivkumar Sharma (Santoor), Pandit Foundation’s initial vision regarding powerful thrust, through a Hariprasad Chaurasia (Flute), Pandit the festival as madness. He was late large-scale event. I knew that there Ajoy Chakrabarty (vocal) and Pandits awe-struck by the level of discipline were corporate benefactors who Rajan and Sajan Mishra (vocal), and and organization, which he thinks could be convinced, and a venue as more. First timers will include the has taken Bangladesh to newer big as the Army Stadium could be classical music icon Padmabhushan heights. He also thanked the used. After massive audience Vidushi Kishori Amonkar (kheyal), audience for making it possible thus commendation and high registration Padmabhushan Ustad Amjad Ali far. numbers, we knew that we had Khan (Sarod), Karaikudi Mani ‘We were skeptical, whether the made it happen. As with all other (carnatic percussionist), Ganesh festival was only going to be held as Bengal Foundation endeavours, it is Rajagopalan (Carnatic violin), and a one-off event,’ said Syed free for all. We will never more. A total of 160 artists will be Mahbubur Rahman, Managing compromise on quality or any other performing for close to 55 hours in Director and CEO of BRAC Bank Ltd, attribute of the event. We hope that these five days. ‘but given the tremendous response the audience and the patrons would ‘We are proud and excited that from the music lovers of this be with us in the years to come.’ Bengal Classical Music Festival country, BRAC Bank will try to Maasranga Television is the Bangladesh 2014 is going to be patronise such events in order to broadcast partner, ABC Radio the held,’ said Anjan Chowdhury, eradicate moral and social radio partner and ICE Today the Managing Director of Square Group, decadence and give priority to the media partner, of the event. Prothom at a press conference held on 23 exposure of artistic excellence to the Alo and The Daily Star are strategic October 2014. ‘It is our belief that Bangladeshi people.’ Similarly, CEO partners. Amari Dhaka has joined as Bengal Foundation and the classical of Maasranga Television, Syed the hospitality partner. Square music festival has expanded given Fahim Munaim, voiced his surprise Hospitals is the medical partner. The its sheer success,’ he added, all the that expatriate Bangladeshis have event will be managed by Blues while pledging their allegiance to the been seen to take leave from their Communications.

November 2014 ICE BusinessTimes 53 Startup

There are many mistakes you can make as an entrepreneur: marketing mistakes, decision-making mistakes, technology ESCAPE mistakes, and so much more. Given the influx of Bangladeshi startups on the rise, not only are we witnessing NO numerous success stories, but the failures of other ventures are unfortunately not being talked about. It is like one of those MORE problems which needs to talk about the ‘why,’ but no one actually talks about, 13 mistakes keeping it all ridiculously hush-hush. But there are mistakes that slow you in business down and ones that can stop you dead in your tracks. A recent discussion on Quora to avoid focused on the unavoidable mistakes that new entrepreneurs often make. There were many good suggests from businesspeople who chimed in. Here are 13 that were particularly insightful and sticky.

54 ICE BusinessTimes November 2014 BUSINESS MISTAKES

1. Hide from problems saw. You will have different abilities, If you don't cut expenses wherever When things go wrong, what you resources, ideas, and opportunities. possible without threatening the absolutely, positively, without a If you can't significantly improve the quality of your products or doubt should not do is hide. Only idea, do something else. Why start operations, you open a corporate when you face the issues do you off as an also-ran? vein and bleed onto the floor. Forget have a chance of finding solutions. the fancy office or perks. The more 6. Think that great money you save, the more time you That also means to avoid pretending products are enough to that all is well with investors and have to get things right and see the staff. They can often be helpful, so succeed business blossom. why not let them? Ralph Waldo Emerson was wrong. Build a better mousetrap and the 11. Work out the details 2. Be all things to all world will not beat a path to your with co-founders later potential customers door. You need to create a strong You go into business with a partner, You can never please all the people business, learn to market, and maybe an old friend, and suddenly all the time. One implication is that handle problems. Only a things don't work the way you you will never develop a product or fully-developed company will expected. Someone isn't putting in service that is attractive to the entire succeed. A great product alone is the effort or can't get the necessary market, let alone all people. Don't likely to fade into obscurity. results. If you haven't considered such issues as a parting of the ways, bother. Focus on what you can do for 7. Skip the proof of a particular subset. who has the final say on decisions, concept or how or when you cash out, then 3. Try to do too much at You're sure that you know what you are an accident waiting to the start people want. Of course you do. But happen. Get the details straight at You want a product or service that what if you're wrong? Unthinkable, the beginning. will startle everyone and draw of course, but it's all too possible. buyers. It's understandable, but Rather than assume your 12. Hiring the easy gets Hiring is a painful and expensive there's a tradeoff. If you spend too omniscience, test your ideas. Better undertaking. You meet people who much time chasing perfection, you to find and fix the problems at the seem to be matches and so want to won't have the time to chase start so you can proceed more bring them on. Resist and create a customers, allowing a competitor to smoothly and successfully. real HR process. Evaluate and vet slip in with a product that may not 8. Rush to economies of candidates, and get the types of be as amazing, but that has the expertise, both technical and advantage of being available for scale managerial, your company will purchase. You want your business to be a blockbuster. But don't plan on it. need. 4. Ignore the answers you Building an infrastructure and 13. Be satisfied with basic get to the questions you ask hiring the people necessary for a big You will (or should) talk frequently rollout is a mistake if you do that financial data A bookkeeper and a copy of to staff, investors, vendors, too early because you'll burn QuickBooks is not a financial prospects, and customers. They can through resources before you can system. If your intent is to make the offer great insights and advice that justify the expense. Catching up to company grow, you need accounting can improve your business. But that growth is painful, but never that is complaint with generally only happens when you actually catching up to capacity is much accepted accounting principles, or listen to what they say and not worse. GAAP, as that's what investors, dismiss it. Not that you should 9. Stay fixed on your acquiring companies, or the stock automatically do what everyone market will expect. Set it up right tells you, but if you dismiss vision from the beginning. In addition, anything that doesn't immediately Entrepreneurs are often passionate work out what metrics will be most agree with your assumptions, you're about their concepts and plans. That important to various aspects of the going to tank your business. doesn't mean the world is. People may react differently than you business and generate those 5. Slavishly copy a expected. Changing circumstances numbers. Know the incremental cost successful startup might close some doors or open of an additional product unit, how You've seen the new tech company, others. Adapt your idea as necessary expensive it is to acquire a news restaurant concept, consumer to make the business work. customer, the average customer's product, or some other successful 10. Run out of cash lifetime value, or whatever else new business. It's an enormous might make a difference to how you Money is the blood of your company. mistake to try to copy what you just make decisions.

November 2014 ICE BusinessTimes 55 Academia

STRAIGHT FROM NSUers Meet Corporate Icons 2014 displayed real human emotions THE HEART from today’s icons

By Wafiur Rahman

When icons are invited to give a talk – speeches which can help to change was obtained by the end of the about their success stories, or how the perception among those in the event. Held on October 15 and 16, it they manage to run their audience to do something better and had six speakers from different businesses/jobs/families with productive about their future. They sectors of business, which included similar strength to that of Superman are successful today, not because of ASM Mainuddin Monem, Deputy on screen, we (and the speakers) their silver-spoon lineage, but Managing Director at Abdul Monem often tend to forget the one thing because of their ability to rise above Group, Golam Sakib Choudhury, that is common between us – being after numerous failures. Human Area Manager, Dhaka East human. They did the same things to beings perform their very best when Marketing – British American reach where they are today, had the cornered against a wall, and that is Tobacco Bangladesh, Solaiman same breakfast that we eat everyday where they excel and succeed, Shukhon, Head of Marketing at Elite and do the same jobs that we all With that very essence in mind, Technologies, Riyad Shahir Ahmed dream about – with a tad difference North South University’s Young Husain, CEO at Magnito Digital, – they do it fervently and with Entrepreneurs Society (NSU Yes!) Selim RF Hussain, CEO and elegance. organised ‘NSUers Meet Corporate Managing Director at IDLC Finance And that is exactly why they are Icons 2014.’ The tag line of this Ltd and Shahnawaj Chowdhury, called to give public speeches, more season (fifth, imploring its success) Senior Vice President at Midland importantly, motivational speeches was ‘be enlightened,’ which I believe Bank.

56 ICE BusinessTimes November 2014 CORPORATE ICONS

It all begins with a simple something which would focus on all the aspects before going idea, which can give you operational. ‘Thinking things a great outcome. through is essential,’ he said. ‘It all begins with a simple idea, which can Faculties must groom give you a great outcome. Faculties students to bring out their must groom students to bring out their own innovative ideas. There is own innovative ideas. no need to be a genius in this regard, but self-belief and intuition There is no need to be a rates must be high.’ When he genius in this regard, but completed his post graduation from North America, he was asked to help self-belief and intuition his father in the business – and the rates must be high. first challenge they faced was losing the Coca Cola franchise. Similarly, ASM Mainuddin Monem Deputy Managing Director at Abdul Monem his venture into Abdul Monem Pharmaceuticals did not deliver expected results, he lamented that WHAT THEY SAID ‘you may have money, but with When ASM Mainuddin Monem came minimal idea of what you are to the podium, it started with an getting into, your idea is not worth audio-visual footage on Abdul much.’ Monem Group’s recent runway He rounded up by emphasising on overlaying/extension in Hazrat ensuring the security of one’s Shahjalal International Airport intellectual property and on the Dhaka, which was self-explanatory in importance of venture capital in the the sense that they have come a long future of Bangladesh economy. ‘You way ever since their inception in must step up to overcome your 1957. He frequently kept on obstacles. If my competition turns up reinstating the fact that their secret their quality a notch, I will have to mantra to success is family bondage – step up (i.e – launching Mi Amore to they succeeded because their ties to the competition of Bellissimmo and each other. He stated that it is other new ice cream products.) Golam Sakib Choudhury because of the family bondage that Otherwise you will falter along with Area Manager, Dhaka East Marketing at BATB family businesses like theirs were your idea. It is through able to flourish in Bangladesh. He advised the students in the THE IMPORTANCE OF communication, he said, audience that they will not be able GETTING A JOB to get the fine balance of both the that networks are built, The next speaker was Golam Sakib academic and professional world, Choudhury, Area Manager, Dhaka and it is through but it is attainable in the near East Marketing at BATB. As a finance future, as the Eastern Asian communication that graduate, he had the opportunity to countries such as Japan and China work in more than seven positions in better opportunities arise have been working on it for quite his 5+ years of tenure in BATB. He some time. He added that the right and can be explored. In stressed that although students think set of mind and sentiment is that their main objective is getting a order to be required to succeed in business. He job when they graduate, he said the cited his own example, by stating remembered in the long actual part begins when they get a job. that their company’s success and run, prosperity stands But moreover he talked about the legacy is credited to his father, problems students face when on doing something that Abdul Monem. He is merely applying for jobs – such as how to continuing that legacy. Although interests you, rather than self-represent, disseminating realities Mainuddin Monem experienced from myths and about the big picture. doing something you failures initially, he advised on He shocked the audience by saying having a mental map prepared – may regret later on. that although students believe that

November 2014 ICE BusinessTimes 57 CORPORATE ICONS

As long as you are RISING OVER disciplined and STEREOTYPES The opening remarks of Solaiman detail-oriented, you Shukhon, Head of Marketing at Elite Technologies, may have reminded you have a chance to be of that of a standup comedian (turned successful in life. If you out he has a stint in standup comedy,) but what many realised is that behind can top that with that aura of a humorous speaker, is creativity, intuition and an individual who experienced enough in one lifetime to dish out life open-mindedness, lessons to those who need it. you will get there. As a defense drop-out (from both Bangladesh Army and Navy,) Solaiman Shukhon experienced a Selim RF Hussain pseudo-epiphany that he wanted to CEO and Managing Director of IDLC Finance Ltd experience the intricate pleasures of life that his peers were enjoying when grades do not matter, he said it does – he was out stationed in the Bay of as it is the first step of shortlisting Bengal as a naval officer. He classifies CVs. Though work experiences are not this as something that everyone necessary, it is necessary to possess should possess – spontaneity. ‘You experience in extracurricular should never have the feeling inside activities – as it implies that the your head that says ‘this is not your candidate had experience in working thing,’ he said. He went on to join as a team (albeit successfully). He Dhaka University’s Institute of said revealed that companies recruit Business Administration, all the regardless of not putting up while experience pre-conceived advertisements in newspapers or notions and stereotypes of studious online job portals. individuals and how he was perceived He put emphasis on the importance by others given his outer appearance. of a good CV for fresh graduates, as ‘You must learn to accept your it is their identity to employers. shortcomings,’ he advised everyone. Other than keeping it typo-free, Anyone can go on blindly stating that Riyad Shahir Husain they know a lot because they study a CEO of Magnito Digital there are other methods of making it attractive, such as putting lot, but reality, he says, is quite important achievements (good different. ‘This is similar to that at work, do not possess stereotypes. We now have more results, significant achievements) on the first page. Research shows Never hide or live in denial. Someone opportunities at our that HR executives spend an may be better than you – regardless of average of six seconds to go religion, gender, colour, etc. In order disposal but what we through a CV, so attention-drawing to attain your own individual self, need most is courage. has to be done within that time, you must also learn to refrain from hence the significance of a concise associating yourself with big entities. We must try to get back C V. Aspiring for dream jobs in large the courage we had as In his concluding remarks, he focused multinationals or no less should not on the importance of communication. be your life’s motto.’ kids, the unabashed It is through communication, he said, ‘You must also learn to respect courage that made us that networks are built, and it is processes. You cannot be skyrocketed through communication that better into a CEO’s position just because you believe that we could opportunities arise and can be think you are eligible. You must work your way up the ladder of success. even fly, and that we explored. In order to be remembered in the long run, he advised on doing Know your worth and never give could achieve the something that interests you, rather excuses. Anything you do, be than doing something you may regret self-reflective and judge your actions impossible. later on. through global benchmarks, not

58 ICE BusinessTimes November 2014 CORPORATE ICONS

The secret to office with just 3 employees, declining any financial assistance success, is to be from his family. Today he has an ever-growing empire, with 32 able to do employees in Magnito Digital alone something different, along with several other projects. Networking played a crucial role in and to touch other Riyad’s uphill battle in establishing people’s hearts. himself. In fact, most of his team consists of individuals he met through entrepreneurship events. He reiterated that we must sell ourselves confidently and with finesse to stand out, that we need to get out, explore, speak to people, and create impact. According to him we now have more Shahnawaj Chowdhury Senior Vice President at Midland Bank opportunities at our disposal but what we need most is courage. He Dhaka standards. Communicate with implied that we try to get back the people, all while remaining humble. courage we had as kids, the There is a fine line between branding unabashed courage that made us yourself as an overachiever and the believe that we could even fly, that we suitable candidate, find that balance.’ could achieve the impossible. ‘I always believed in the math that E+R=O, meaning event plus KNOW THYSELF response always equals to an Quoting Socrates, Managing Director outcome. It is through how you and CEO of IDLC Finance Ltd, Selim respond to an opportunity that will RF Hussain, stated that it is determine its outcome. If you do so important to learn and know more, as while keeping your feet on the he said attaining knowledge is a ground, expect magical results.’ lifelong process. With over 29 years worth of experience in the banking THE ABILITY TO TAKE sector, he stressed that the future of INITIATIVES graduates is bright because there is a Solaiman Shukhon Coming back from the UK, Riyad level playing field of acceptance and Head of Marketing at Elite Technologies Shahir Ahmed Husain, CEO of credibility in the job sector currently. Magnito Digital, did not for once ‘When I graduated from IBA, my consider working for others. What he father was skeptical about me joining Never hide or live in had in his mind would baffle a private bank, something which was everyone- He along with his partner unheard of back then,’ he said, ‘but denial. Someone started working in a local printing now, it is a benchmark of success.’ He may be better than shop. Working throughout the day, he also said that today’s world is highly would find no respite at night either. technology-driven, which is helpful in you – regardless of Spending thousands of hours on all accounts, given if the students use religion, gender, Youtube, he would develop his skills it for the right purposes. on Digital marketing and generating He also said that the scope of setting colour, etc. In order interactive Digital content. But all up businesses in Bangladesh is still to attain your own this paid off when he finally landed existent, given the high margin returns his first earnings. With the money he that are still there, something which is individual self, you earned, the first thing he did was not found any more in the west. ‘I still purchasing a computer. Then, he have SME clients in my institutions must also learn to rented a room and hired his old who had successfully set up SME refrain from coworker from the printing shop. enterprises decades ago, and are Like any other now-successful enjoying the fruits of their labours associating yourself entrepreneur he too had a humble now. I recently had a chat with a with big entities. beginning. He began in a make-shift female entrepreneur who rents out

November 2014 ICE BusinessTimes 59 CORPORATE ICONS

construction vehicles and machines to Midland Bank, shared valuable government and private construction insights, which, more than firms, something that we still cannot professional advice, turned out to be think of. But there is also the low 2-3% insightful life lessons which lingered success rate that is a reality, but as in the audience’s memory well after long as you can show your character the conclusion of the event. and mettle through innovation and After going through his presentation risk-taking, you can succeed.’ about organisational framework, he As for job-seekers, he stressed on the delved into his fortune of being able importance of the willingness to learn to work with over 25 branch MDs, and from negativities. ‘When I was that too in one-on-one interactions, transferred to Mumbai during my which is something not many bankers employment with Standard Chartered, may claim in their entire professional I had the misfortune of getting a rude tenure. The secrets to his success, he boss. But through his actions I revealed, was being able to do learned things I would not do to my something different and to touch subordinates when I reached his other people’s hearts. He organised position. Similarly, it was a an interactive session with some loss-making concern at that point of students, who had responded that it time, so I was forced to take would not have been possible. He cost-cutting measures which were not gave personal anecdotes to put his well received by the bank employees. points across to the nay-saying But these are human emotions you students. His motivational speech have to deal with.’ arsenal included leadership lessons ‘As long as you are disciplined and from Obama, communication detail-oriented, you have a chance to enhancements (‘always deliver your be successful in life. If you can top speech with passion, always connect’) that with creativity, intuition and This was followed by a series of open-mindedness, you will get there.’ videos which reflected on his beliefs, but it was his raison-d-etre, of LESSONS SHARED showing a picture of his children, his AND DREAMS chief source of inspiration. REALISED SUMMING IT ALL UP Another banker with more than 17 After the end of the 2 daylong event, I years of experience, Shahnawaj have come to the conclusion that we Chowdhury, Senior Vice President at must be strong in our connection with the family. They are the ones who will drive us and inspire us to achieve greater things in life. The aforementioned individuals put their family over everything else, as they know that other elements such as friends and material forms are only As long as you are disciplined momentary in their existence. We develop further so that society can reward us and value our family for our and detail-oriented, you have a accomplishments. When these icons come up to the podium and answer chance to be successful in life. If questions from the audience, they are able to do so because they have toiled you can top that with creativity, and suffered to get where they are today, alongside putting Bangladeshi business on the global map. Events intuition and open-mindedness, such as this are needed to bridge that gap between icons and the people so you will get there that more icons are created.

60 ICE BusinessTimes November 2014 Career PAINFUL TRANSITIONS How to turn your career envy into motivation

Social media has always been a virtual blocked, muted, and otherwise quelled trophy case of acquaintances’ from my own feeds. I don’t need to participation awards. They’re updating compare my personal life of outtakes to their Facebook status with 12 coworkers someone else’s highlight reel. The kind from your dream job’s rooftop happy of comparison I catch myself actively hour, Instagramming amazing brunches seeking out, however, is in the every weekend, live-tweeting from their professional sphere. Our peers are our own wedding reception how ‘blessed’ competition. Wanting to know what they are to have Pinterest-perfect table they’re up to is an obvious settings. They #WokeUpLikeThis: temptation--and when they’re doing Flawless. We all have or know people bigger, better things than you, it’s hard who work at the big multinationals such not to be discouraged. as BATB and Unilever, with jobs which Entrepreneur and business coach you probably yearned for from your Solaiman Shukhon researched how early days in university. comparison works. Bacon sums up the These over-sharers get ruthlessly social media comparison trap perfectly:

62 ICE BusinessTimes November 2014 CAREER ENVY

In our comparison-soaked culture, it’s hard to avoid looking around at what other people are doing with their short time on earth, and slipping (often unconsciously) into ‘What Have I Done Till Now?’ mode. Here are a few things he suggests to reshape your career envy into something good: 1. Never Assume Luck Everyone’s acting as their own best public relations specialist. Just because their star seems to rise effortlessly, doesn’t mean their path age, peer group, our own closest was devoid of sacrifices. Reaching friends. Find parts of that person Feeling the out to someone you admire--and you’d like to work on in your own yes, envy a little--is empowering and career, and then get to work. pressure of enlightening for both sides (and chances are, they never saw 4. Turn ‘Me First’ Into themselves as someone to envy!). envy leads us Find out their process, and what ‘One Small Step’ Sometimes, especially in startup unique challenges they had to face fields where the landscape is to do and say on their way to where they are. They shifting constantly and a new job likely made their own luck, or had a title is invented every day, a peer’s some ugly mentor that changed everything. success is foreshadowing for your own big break. Those soul-yearning, things--true or 2. Ask Yourself Why creativity-craving forces are You’re Envious motivation for a bigger step. ‘She’s false, about The obvious answers are knee-jerk not good enough’ is just as harmful responses to the success of others: as ‘I’m not good enough.’ When I see ‘Because I’ve been working toward a others meeting goals that I’m also others and to promotion for a year, and she got after, I feel like they’re more one within six months!’ ‘Because attainable: If she can do it, so can I. ourselves. I’m not making the money I think 5. Compete Only With Yourself my work deserves,’ or ‘Because I Feeling the pressure of envy leads us ‘She’s not stay in the background, while she’s to do and say some ugly things--true getting all of this acclaim.’ or false, about others and to ourselves. ‘She’s not good enough’ good enough’ 3. Use Envy As A is just as harmful as ‘I’m not good enough.’ is just as Mirror Company-internal competition is After you’ve asked why you’re especially bad for women. ‘As soon jealous, go the extra step: What part as you introduce competition, harmful as ‘I’m of that envy-worthy quality can you forcing teams to compete with one work on in your own life? If staying another for resources or a prize, not good behind the scenes is eating at your women perform worse,’ Shukhon sense of worth, find ways to said in one of his public enough increase your own visibility. If motivational speeches in August. you’re halfheartedly celebrating a ‘When you crank up the heat, colleague’s raise, find the courage to women somehow stop doing the ask for your own promotion. behaviors that help them succeed A heart surgeon isn’t likely to feel when they are working in a team.’ envious of an architect's latest Compete for your own personal award. We envy each other within bests, and find ways to include our own spheres--career industry, others in the process.

November 2014 ICE BusinessTimes 63 Corporate Etiquettes ENVY LIKE Why office jealousy NOTHING still exists and how to ELSE overcome it By Wafiur Rahman Most of us have had feelings of jealousy or envy in our lives, but nowhere may it be more difficult to deal with than at the workplace. Of course you are supposed to wish Tarek well on his new promotion – even though you worked hard for it and you believe Tarek is a slacker. And, well, sure you would like to be friendlier to your colleague Nadia, but she is so organised it gives you a headache, especially when the boss is always giving her an award for it. No one likes to admit s/he is jealous or envious of a co-worker. After all, did we not leave such petty feelings behind on the playground? Or at least reserve them for the boy who lives next door and can eat anything he wants? The problem is the difficult economy has made our stress and insecurity more pronounced, which can often exacerbate the jealousy we feel on the job. We become more emotionally sensitive and involved, and find ourselves battling our monster selves in our cubicle.

64 ICE BusinessTimes November 2014 OFFICE JEALOUSY

jealousy or envy often want to put such uncomfortable and stressful thoughts aside, but don’t know how. If you find yourself in such a position, try: Learning from the experience. Set aside your negative feeling about Tarek getting the promotion, for example, and instead think about what he did to get the job. Could it be that he did a better job of promoting his hard work or connecting with the right people? He played it smarter than you, so what can you do differently in the future to have a different outcome? This situation is giving you a chance to learn something new, so consider that a good thing. Staying away from triggers. If you get sick with envy when you talk to Nadia then avoid her for a bit until you can look at the situation in a more positive light. Maybe you Psychologists say Suddenly, it seems as if a avoid the office tea pot when she’s co-worker’s off-handed comment around, or communicate with her we often feel jealous about how your messy desk is a mostly via e-mail. health threat does not seem like a Being honest with yourself. Trying when we sense friendly quip but a direct insult. to tell yourself you are not envious someone has taken Remarks – even joking comments – or jealous will not help you move are taken personally and negatively. past it. Try to get at the root of your something away Psychologists say we often feel feelings. Do you feel that you are not jealous when we sense someone has getting the amount of respect and from us that we taken something away from us that recognition you deserve? Does it feel were attached to we were attached to emotionally. like your career is off track and it You may have really been counting makes you feel vulnerable and emotionally. You on a promotion, for example, so you scared? may react in anger or be hurt when Finding other victories. Try turning may have really you do not get it. Jealousy really hits your mind and emotions in another when we feel something is unfair, direction by focussing on another been counting on a they explain. goal. Work to improve your time in a promotion, for So, you may feel jealous when a timed-race, help to organise an colleague gets a new project that you important industry conference or example, so you feel you deserved because you have start your own blog. This is the time more seniority, and because you had to focus on the things that make you may react in anger already envisioned the team you unique so that when you feel jealous or be hurt when you would pick and how much it would or envious, you can have clear help your career. reminders of the things you do well. do not get it. Envy is a bit different than jealousy Finally, it is OK if you’re jealous or because it is usually about wanting envious. But the key to making sure Jealousy really hits something we don’t have. In that such feelings do not poison your life when we feel case, we may find ways to demean is viewing the situation as a whoever has that which we desire – learning and growing experience. something is unfair, such as saying that when Jim gets Think about how you can take what the promotion he is lazy and will fail you’re feeling and become a better they explain at his new job. Those experiencing person and employee.

November 2014 ICE BusinessTimes 65 Corporate Fitness

THE RIGHT ALLEVIATION Picking the right fitness method

By Ahmed Noushad

Unless you are looking forward to a UFC medallion after office hours, MMA is not what you should be spending time on. But if you are expecting muggers anytime on your way back home, general Martial Arts training might help sort out things. But the time and dedication it takes is not in the liberty of many, not especially in this growing state of Bangladesh. The better option avails are those that are Uswift, time-based, and committed to the moment. Almost everyone is aware of the options available, but how many have really thought on which should better suit them?

66 ICE BusinessTimes November 2014 HEALTH

Massage While Gym focusess on toning muscles for heavy duty, Massage often does the contrary. Methods and procedures involved in Massages are often directed at relaxing the muscles from their toned or ‘on-the-go’ state. This is generally the best option when you Acupuncture have over worked your muscles or This is more a therapy to certain have sprained your muscles over ailments than a relaxation technique. unconditional or lengthened duties. The concept of how Acupuncture Gymnasium In comparison to Gym, this is best works is not yet fully understood by Gym, as colloquially it is known, suited for those in Desk Jobs. Over modern medical science, however, its involves diverse fitness methods. the span of working hours, effects are well-appreciated. Although referring to open air individuals tend to retain a constant Analysing body conditions and with a exercises, they are much focused on structure that over uses the muscles, little knowledge in science should tell you, human body is built by athletic level of fitness. Despite what causing sprain or pain in the length unification of ‘cells’, let’s say the the dictionary meaning has to say, of the muscles. But be vary, massage smallest entity with life. When they the perception of Gyms in reduces muscle activities by relaxing perform well, all performs well. If you Bangladesh is different. The them, which also reduces their reflex maintain their health, your health is and response time to some extent. common notion is to Build Muscles, well taken care of. The concept of Massage may be a drawback for and fitness being a a natural Acupuncture constitutes the those who require constant achievement in the process, well-being of these entities, that is to although over building isn’t part of movement and variation in their cure the root. Deriving from Far-East the fitness you are looking for. If you strength throughout the day. But Asian knowledge, every human body are involved in heavy duty tasks, this also doesn’t necessarily mean constitutes energy channel that like in service sector or construction you can’t have one, but the overall regulates the blood flow through that requires lending heavy hands, performance will be affected. The every cell. Maintain this channel, and you might consider Gym as a perfect best is to have sometime before you you maintain the whole body. By fitness option. This is primarily retire to bed. Acupuncture, the therapist actually because, no matter how it is Massage is variant and involves regulates this energy channel, and perceived here, Gym centres provide different methods and techniques thereby ensures proper blood flow, instructions and fitness guidelines that have evolved in various meaning cells and fed well, that tone your muscles for cultures. Each of these technique oxygenated adequately, waste performance in heavy duty. If you focusses on different aspects of removed efficiently, and maintained are not in any of the services related relaxation. Some of the best centres at its performance limit. This comes jobs, Gym may not be the right to find in Bangladesh would be in to best use when you have suffered from localised pains usually of option because it requires constant Dhaka Massage Centre, Tilak Thai chronic category. Pains related to involving of muscles into such Massage, and M&M Massage nerves also serves best. Mental stress heavy tasks, that is constant visit to Parlour are few of the best. and sickness at work places is also Gym centres. known to be treated well with A number of quality Gym centres can Acupuncture. After all, what is a be found in Dhaka city that better fitness, than the fitness of the maintain international standards mind? But be noted, a licensed with professional trainers. This is a professional is mandatory. necessity, because an uneven Bangladesh is new to this fitness training procedure may disfigure option. A few centres have emerged your muscles and may even give in the Dhaka city. Hopefully more medical conditions. Golds Gym, professional and diverse Hammer Strength Fitness Club, Acupuncture techniques will come Silver Gym, KGC Gym, Exporta Gym, into existence. Dr Khan's Neuro Fit & Fitnes Health Club, Fitness & Acupuncture & Herbal Medical, Lifestyle Motivation, Sport Zone, Bangladesh Acupuncture Clinic, and Muscle Mania and Combat Gym are Tiens Bangladesh are a few of the a few amongst the best. noted ones.

November 2014 ICE BusinessTimes 67 Soul searching

TOO MUCH WORK WRECKING HAVOC How multitasking can damage both your brain and career

By Wafiur Rahman

The ability to juggle work is a standard job requirement. Researchers have another name for this supposedly desirable skill, however: chronic multitasking. If this sounds more like an affliction than a resumé booster, that’s because research has shown again and again that the human mind is not meant to multitask. Even worse, research shows that multitasking can have long-term harmful effects on brain function. In a 2009 study, Stanford researcher Clifford Nass challenged 262 college students to complete experiments that involved switching among tasks, filtering irrelevant information, and using working memory. Nass and his colleagues expected that frequent multitaskers would outperform nonmultitaskers on at least some of these activities.

68 ICE BusinessTimes November 2014 MULTITASKING

more efficient if you have to do some of those tasks over, or your customer or boss is dissatisfied? 4. Multitasking can steal the enjoyment of the moment. Paying close attention to a piece of music, a line of text, a bite of food, or even a work-related task can bring about a level of satisfaction and enjoyment that is sometimes lost if we’re doing something else at the same time. 5 Ways Multitasking To be sure, some tasks aren’t Can Cost You necessarily meant to be enjoyed, Multitasking can be a great tool, but it’s important to make sure especially for those who excel at it. we don’t get so good at But like all good tools, it’s important multitasking that we forget to to remember that there are some savour the ones that are. 5. True relaxation can become They found the opposite: Chronic instances where it’s very effective, obsolete. Our ‘always-on’ society multitaskers were abysmal at all and other instances where there are has lost its appreciation for the three tasks. The scariest part: Only limitations to its effectiveness. Here need to occasionally turn off. Not one of the experiments actually are a few things to watch out for as only do many of us find it involved multitasking, signaling to you multitask through your day: unacceptable to take time to do Nass that even when they focus on a 1. Some tasks shouldn’t be paired nothing in order to recharge single activity, frequent multitaskers with anything. No matter how ourselves, but we also sometimes use their brains less effectively. good a multitasker you may be, sneer at those who are only doing Multitasking is a weakness, not a doing just about anything while one task at a time. Have you ever strength. In 2010, a study by driving can be fatal to you or to heard someone brag about neuroscientists at the French those on the road with you. surviving on 4 hours of sleep? It’s medical research agency Inserm Talking on the phone, texting, not fun! showed that when people focus on putting on makeup, and shaving two tasks simultaneously, each side while driving are all NO-NOs that of the brain tackles a different task. can cost you a lot more than just Probable Solution? This suggests a two-task limit on having to take some money out of There’s no doubt that, in some what the human brain can handle. your emergency fund to fix the situations, multitasking can Taking on more tasks increases the ding in your car. increase our efficiency and allow us likelihood of errors, so Nass 2. Multitasking that includes eating more time at the end of the day to do suggests what he calls the should be used sparingly. Many the things we really love. It can be 20-minute rule. Rather than of us eat our lunch at our desks costly, however, in terms of quality, switching tasks from minute to while working, or watch TV while enjoyment, health, and even money. minute, dedicate a 20-minute chunk eating. Be aware, however, that If we’re busy trying to squeeze of time to a single task, then switch research shows that we tend to productivity out of every minute of to the next one. eat more when we do other things the day, we might forget to actually His second tip: ‘Don’t be a bait for while we eat. This can cost you in take the necessary time to email.’ The average professional terms of decreased health and rejuvenate ourselves for tomorrow’s spends about 23% of the day wellness, as well as decreased challenges. emailing, studies show. The report enjoyment, and higher food Taking a break can be a great findings encouraged business expenses. Multitasking can investment. So the next time you owners and their employees to check seriously detract from trying to find yourself wolfing down a snack emails a few scheduled times per maintain healthy lifestyle habits. while reading an important day and turn email notifications off 3. Increased productivity can lead to document, think about whether it the rest of the time. Quick questions decreased quality. Maybe you can might be better to take five minutes are often better asked face to face or accomplish a lot more by doing to really savour your snack. After by phone, where they do not add to two or more things at once, but that, you can get right back to your the huge amount of email already what does the finished product document with a fresh set of eyes dealing with. look like? Is multitasking really and a clearer perspective.

November 2014 ICE BusinessTimes 69 From desk to boardroom AS TIME TICKS BY How to defuse a workplace conflict

Working out differences of opinion is an essential part of any group activity. However, when disagreements in the workplace explode into full blown-conflicts, it can ruin relationships and make working as team difficult or impossible. Here is a 12-step process for defusing a conflict before it gets out of hand, loosely based upon inputs provided by Piera Palazzolo, senior vice president of Dale Carnegie Training.

70 ICE BusinessTimes November 2014 WORKPLACE CONFLICT

1. Watch for the warning signs attacked, don't react in anger or Like dark clouds before a tempest, frustration. Set your emotions aside warning signs often indicate that a (at least for a while) because inject- conflict is about to explode: a ing them into the conversation at co-worker's conversational jabs, this point will only escalate the sarcasm, subtle rudeness, and conflict. passive-aggressive behavior, like ‘forgetting’ to do tasks that are 6. Try to see the other person's important to you. When you see this point of view. 10. Ask the other person's kind of behavior, move quickly to Once you've heard your co-worker advice. defuse the conflict before it gets out out, do your best to see the situation Now that you've gotten both of hand. from his or her perspective. Even if viewpoints on the table, ask your you think that the other person has co-worker for advice on how to best 2. Don't assume you know a weirdly skewed sense of reality, resolve the conflict. Once again, you what's going on don't insist that he or she is ‘wrong.’ want to listen as carefully as you Prior to beginning a difficult conver- Such statements are an insult and can to what he or she says, without sation with a co-worker, assess the show disrespect. becoming angry or judgmental. situation and acknowledge that you might not be right and that, in fact, 7. Echo what you've heard. 11. Express your own ideas for you may not even know what's Before saying anything else, encap- resolving the problem. going on or why the co-worker is sulate in your own words what the Now that you've completely heard upset. Realizing that you might be other person said. Then ask if your out the other person and gotten his wrong from the start makes conflict characterization of his or her or her ideas on how to resolve the resolution simple. (You admit you're viewpoint is accurate. problem, it's entirely appropriate for wrong and move on from there.) Ineffective: ‘I get it. You're angry you to surface your own ideas. As at me.’ far as possible, make your advice Effective: ‘Here's what I heard: 3. Start a friendly conversation ‘additive’ to your co-worker's ideas You feel that I was dismissing the Even if you feel irritated and angry rather than in opposition to them. importance of your contribution at your co-worker's behavior, you Ineffective: ‘I think that your idea of when I didn't mention your name should approach him or her in a getting the board of directors in the report.’ friendly manner, not aggressively. involved is just asking for trouble. Your goal is not to ‘get back’ at the Let's craft a memo of agreement other person but to achieve and 8. When you are wrong, admit instead.’ maintain a dialogue that will solve it. Effective: ‘Bringing the issue to the the problem. If you've really made an effort to see board of directors could work but I'd Ineffective: ‘Hey, how come you're the situation from the other person's like us to try to craft a memo of treating me like nothing?’ viewpoint, chances are that now you agreement before we do that so that Effective: ‘I've noticed that some- can see more clearly how you've maybe we won't need to escalate the thing seems to be bothering you.’ contributed to the tension and where issue.’ you could have done better. 4. Listen--really listen--to what 12. Come to agreement on the the other person is saying 9. Characterize your viewpoint next steps. When the other person starts to without becoming emotional. Work with the other person to come explain, comment, or criticize, put all If you still feel there are disagree- up an ‘action plan’ to resolve the your attention on listening carefully. ments, describe the situation from issues that created the conflict. This Don't frame what you're going to say your perspective. Do your best to is by far the most important step in in response. Just listen, as carefully keep your statements on a profes- this process because it gets you both as you can, to what is being said to sional level. If you must express how ‘on the same side’--fixing the you. How to do this kind of ‘active you feel about the situation, do so problem rather than making things listening’ is described in ‘How to without letting your statement worse. Have a Meaningful Conversation.’ become a personal attack. In addition to the above, discussions Ineffective: ‘Frankly, I think are more likely to go smoothly if you 5. you've been acting like a jerk.’ avoid the ‘8 Conversational Habits Remain calm, no matter what Effective: ‘It's been hard for me to that Kill Credibility.’ The clearer your Even if what the other person says concentrate when I can sense that communications, the easier it will be makes you feel emotionally you're unhappy.’ to defuse the conflict.

November 2014 ICE BusinessTimes 71 Motivation THE GREAT TURNAROUND 6 Small Changes to Your Morning Routine Will Transform Your Entire Day

The first few minutes of your morning are the most important of your day and can set the tone for positivity and productivity. Ideally, you have an app or clock that taps into your natural circadian rhythm and wakes you during your ‘best time’ within a certain window. Getting jarred out of a deep REM slumber to the sound of a blaring alarm clock sets you up for a negative day brimming with fatigue and crankiness. But getting the right alarm clock is only part of the battle.

72 ICE BusinessTimes November 2014 YOUR MORNING ROUTINE

Here are six ways to you a boost of energy. Then wait at 5. Stretch start your morning least 30 minutes before brushing It seems so obvious, and yet so your teeth, drinking, or eating. This many people ignore it. You can do better while kicking might be a toughie for caffeine this in bed, using a simple bad habits that destroy addicts, but you can manage 30 stretched-out-legs-and-arms-overhe good sleep hygiene. minutes and it's a great way to ad movement. You can indulge in a 1. Give yourself at reduce the need for a coffee fix. supine twist on a padded floor, or 3. Sit up correctly you can practice whatever feels right least 15 minutes of for as little or as long as you like. There are many ‘bad ways’ to get out Your body's just been booted down no screen time of bed, but only one best way, if your for hours--you can't expect it to be Besides turning off an alarm that body allows for it: Roll over onto warmed up, energized, and raring to might be on your phone, resist the your right side, then push yourself go right away. urge to check your email or social up into a sitting position before media. It sets you up for a day of standing with a straight back (no 6. Meditate being enslaved to technology, and hunching). It's the gentlest way to Don't skip over this one just because your morning time should be get up, takes the pressure off your it sounds boring or like you don't reserved just for you. This might heart and back, and is a great, easy have time for it. Meditation is only mean disabling notifications on ritual to start your morning right. as strict, long, short, boring, or your home screen so you're not annoying as you make it. A tempted by that Facebook update or 4. Set and affirm ‘successful’ meditation in an entire mounting emails. your goals for lifetime might be only a few seconds. 2. Swap out the the day However, sitting in a comfortable coffee for lemon position and focusing on clearing While stretching in bed or prepping your mind--even if it's for less than a water your lemon water, set some feasible minute--can help your mental clarity Lukewarm water with a fresh lemon goals for the day, but limit them to and spiritual well-being and set the squeezed into it has numerous three. This might include packing stage for the day. benefits--but you need to drink it your lunch instead of eating out to You probably already know which first thing in the morning. It starts save money, committing to that morning habits aren't serving you, so your metabolism, which burns fat noon yoga class, or scheduling the why keep doing them? Instead, focus while sustaining muscle, cleanses doctor's appointment you've been on what really makes your mornings your mouth and throat, and gives putting off. better and prioritize them.

November 2014 ICE BusinessTimes 73 Corporate Grooming

In 1921, a clever French businesswoman and belle of the Parisian social elite created a scent that revolutionised the way women smell. Ninety years EVERLASTING later Chanel No 5 is arguably still the world's most iconic perfume. With a healthy disregard for social SUCCESS etiquette and a retinue of friends and admirers among the city's ‘racy’ women, couturier Coco Chanel How successful perfume brands traversed the boundaries between lady and mistress. have lasted for so long By the beginning of the twenties Chanel was already The following have been the best-selling perfumes over a a phenomenon in French fashion circles. period of time in Perfume World. Available in 10 branches in So what are the secrets behind a perfume brand’s Bangladesh, they have been successful for all the long-lasting success? Let us check out Chanel 5’s aforementioned reasons. success mantras: CLEANLINESS Men The smell of soap and freshly scrubbed skin was something that stuck with her for years after. When she decided to commission a perfume for her best clients - a new trend among fashion houses - it was important that it imbue this freshness. Teaming up with perfumer Ernest Beaux, a daring perfume craftsman, it took him several months to perfect a new fragrance but Gucci Guilty Pour Homme Hugo Green eventually he came up with 10 samples and presented them to Chanel. Mont Blanc Legend They were numbered one to five and 20 to 24. She picked number five. That moment consumers smelled something they had never smelled before, it was an intervention in the history of perfume.

WHAT IS INSIDE THAT BOTTLE? Azzaro Chrome United Whether they're natural or synthetic, these scents are usually mixed with a combo of alcohol (to Versace Eros blend and stabilize scents) and water (to dilute.) The type of notes, plus the ratio of perfume to Female Eau de alcohol and water, dictates how concentrated a Lacoste Pour Femme scent is -- and how fragrant it is. HITTING THE RIGHT NOTE Fragrances are constructed to have a beginning, a middle, and an end. The top notes are the initial aromas that you experience when you first try a scent. Usually they're the lightest, and often they're citrus scents which don't last very long. Dolce & Gabbana ‘Dolce’ KEEPING IT SUBTLE The most sophisticated and fresh way to wear fragrance is low-key and light. You want to smell Burberry amazing in an understated way (not like you Body sprayed every last inch of yourself). Tender Gucci Guilty Moschino Chic Petals Musing ABOLITION OF A DIFFERENT KIND

Why tipping should be eradicated

As a person who writes about food every other industry, in pretty much a lot from the pro-tipper crowd and drink for a living, I couldn’t tell every civilized corner of the earth. seems logical enough: the service is you the first thing about how Golf Most of you hate tipping, but a better when waiters depend on tips, Garden or RAOWA Convention recent Nielsens US survey proved presumably because they see a Centre is among the best newest otherwise. You actually love tipping! benefit to successfully veil their joints for weddings and general You like to feel that you have a voice basic contempt for you. Well, if this meetings. But I can definitely tell in how much money your server were true, we would all be slipping a you that they are pretty good as makes. No matter how the math few 500 taka extra to our doctors or their management has planned to works out, you persistently view even mechanics on our way out. ban tipping in favour of paying his restaurants with voluntary tipping You may think that, as a customer, servers an actual living wage. This systems as being a better value. wielding the power of the tip entitles just may be the most progressive This makes it extremely difficult for you to special treatment, but that’s thing happening in the catering restaurants and bars to do away only true, apparently, if you look like business in Bangladesh today, as with the tipping system. That is a the kind of person that tips well. the 15% VAT (value added tax) and shame, really, because tipping Eliminating voluntary tipping would 10% (usually, it can be more) service deserves to go the way of the zeppe- do away with these prejudices. It charge really frustrates me as a lin, pantaloons and Creationism. We would also allow restaurants the customer in restaurants. should know better by now. freedom to spread its revenue I hate tipping. I hate it because it’s Forget merely inefficient; tipping is among employees in whatever way an obligation masquerading as an irrational from an economic perspec- allowed them to attract the best option, and a bizarre singling-out of tive. Standard economic theory says talent and provide the best service – one person’s compensation, just that we only give something if we’ll just as, come to think of it, every dangling there, clumsily, outside the get something in return. Leaving an other business is capable of doing. cost of my meal. I hate it for the optional payment after a service has Food service is a team sport. The postprandial math it requires of me. already been provided – even if you diner’s experience is the result of a But mostly, I hate tipping because I have no intention ever to return – vast and interconnected web of believe that I would be in a better benefits a diner in no way. So why do efforts, from the farmer to the prep place – as a diner, and as a human – we tip at all? Altruism? Empathy? cook to the food runners to those if pay decisions regarding employees Actually, social pressure. Make that waiters at the front of the operation, were simply left up to their employ- reason number five why I hate tipping. whose income is mysteriously ers, as is the custom in virtually One argument that you tend to hear treated as a stand-alone item.

November 2014 ICE BusinessTimes 75 Corporate Dining

We, as a nation, love to ‘adda’ – hanging out for random conversations. And let’s not forget the bits of snacks and drinks that complement our chit chats. And there hardly can be any tête-à-tête without snacks, especially here in Bangladesh – be it savory or sweet and drinks, hot or cold. Out of this love, Kiva Han, the specialty coffee boutique, came into being. Striving to remain true to its name, Kiva wants to be the place for not just casual meetings, but also intellectual sharing between individuals and even groups.

Kiva Han An offer to have Coffee with Conversation

76 ICE BusinessTimes November 2014 KIVA HAN

branding. Currently it acquires coffee beans from three import sources while other food ingredients are collected from well-known suppliers with whom Kiva Han They are builds long-term relationship. Without efficient and congenial cooperating services, a restaurant is nothing but with each other a disgrace. Keeping that in mind, Kiva Han team has trained its to promote baristas in-house on the intricacies of roasting, brewing, serving the coffee as a perfect cup of Coffee. Marketing is one aspect of its mainstream business that hasn’t quite paced up with its increasing operations. Till drink now Kiva Han hardly took any major promotional activities. The team is at its development stage of brand Kiva refers to a dug out circular lunch and dinner. To perfectly go building and promoting. However, space where spiritual leaders used to with the menu and the name, the through Facebook Kiva Han has gather to discuss ideas and thoughts interior has been designed to continued its interaction with with their community. Han, a capture the Middle Eastern customers. It has established Turkish word, means beautiful. ambience with arts and graphics channel partnership with big Between 14th and 15th century, that educate and fascinate the corporate houses like Standard Kiva Han, the first coffee house with visitors about coffee, its origin and Chartered Bank, Eastern Bank its root in modern Turkey, set the journey over time and space. Within Limited and Grameen Phone. It’s in trends for coffee houses across the a budget of Tk 1,000 one can easily the process of establishing ties with world. avail a delicious meal. other telecom companies. Despite Trying to recreate semblance and Kiva Han has arranged its operation the emergence of other coffee shops essence in today’s context, Samit on the structure of three business both global and local in Dhaka city, Bin Salam opened Kiva Han in models to reach its customers. First Samit believes, the pie is still large Gulshan in 2013. His life in the UK business model is the Kiva Han enough for all the players in the exposed him to the prevalent global Coffee Boutique which is its flagship market. They are cooperating with coffee culture and he felt that it was outlet located in Gulshan; second, each other to promote coffee as a high time coffee had become one of Kiva Han Expresso, a small outlet mainstream drink. major everyday drinks in located at GP House and lastly, the Kiva Han’s future plan entails Bangladesh as well. Kiva Han Coffee Kiosk, an upcoming bringing world famous syrup The first big hurdle Samit faced was idea to be placed in corporate collections under Kiva Han brand, about making the people familiar buildings and shopping malls. expanding up to retail stage and with the coffee culture. Coffee was Though this unique business model acting as a distributor to other not yet an everyday affair for most. is set to attract particular customers, restaurants as well. There’s a plan of The idea of starting a wholly coffee overall Kiva Han targets opening in-house formal training shop seemed quite preposterous middle-income bracket people and facility for anybody interested in back in 2005, Samit recalled. It took its clientele boasts of corporate and learning the delicacies of coffee about eight years to give successful university goers alike. Kiva Han roasting and brewing. It also plans to light to the idea of opening a coffee plans to come up with standardised act as a consultant for aspirant coffee boutique with a wide array of food menu for all its business models to shop and restaurant openers and items that complement and bring consistency along its supply all the necessary accessories enhances the tastes of different operations. for successful operation of a coffee flavours of coffee and other drinks In order to run its operations shop. The coffee shop hopes to like juices, smoothies and successfully, Kiva Han plans to expand its operation through customised soda drinks with syrups. control every aspects of its value franchises, a well played expansion Menu covers both sweet and savory chain starting with careful and method by famous global brands. items along with combinations of controlled procurement of raw Kiva Han is all set and mapped to continental, Middle Eastern and materials to food preparation and become more than another coffee Thai-Chinese fusion cuisine for both services to marketing and finally shop in the market.

November 2014 ICE BusinessTimes 77 Strategy OVERDRAINED? 10 ways to feel overworked and overwhelmed 1

After reading an early version of a new book, I decided to do a quick survey during a speaking Recognize and engagement. I asked a crowd, ‘How many of you feel overcome the tyranny overworked and overwhelmed?’ As far as I could tell, of the present. every hand was raised. That's what I expected. We all People who are always ‘in the feel overworked. We all feel overwhelmed, at least moment’ don't look ahead and some of the time. (Even if by other people's standards make plans to pursue their we have it easy, we still feel overworked.) goals and dreams. Though Effectively managing our professional and personal lives is a problem we all there are certainly things you struggle with. Maybe that's because we look outside ourselves for solutions: need to do every day, much of software, apps, devices, time management systems, etc. All of those can help, what you think you need to do but as Scott Eblin, author of Overworked and Overwhelmed: The Mindfulness isn't particularly Alternative, says, ‘The only person who is going to keep you from feeling important--especially where overworked and overwhelmed is you.’ So how do you pull it off? It starts with your long-term goals are making one overriding commitment: You must commit to intentionally concerned. managing your time so you have a fighting chance of showing up at your best--your most inspired, your most productive, and your most ‘in the flow.’ 2 3 4

Ask, ‘Is this really Push reset on your Understand and set necessary?’ calendar. your operating Challenge your basic Sometimes the answer to ‘Is rhythm. assumptions about your regular this really necessary?’ is ‘Yes, We all work differently. Some habits. Do you need to have that but not right now.’ What is the like to hit the ground running. meeting? Do you need to create most important thing you need Others like to start the day by that report? Do you need to to do today? What tasks will reflecting, meditating, and respond to that email? In many keep you from getting that thinking. Some like to work cases you don't, but you do done? The same is true if into the night. The key is to anyway simply because that's something important pops up: understand not just how you what you've always done. Immediately reset your like to work but also how you Eliminate as many ‘nice to do’ calendar and reprioritize. work best. You might like to tasks as possible--not only will Getting stuff done is fine, but work late at night, but if you're you have more time, you'll also getting the right stuff done is tired or frazzled by a long day, have more time to be effective what really matters. you won't perform at your best. where it really matters. Do some experiments to figure out what works best for you.

78 ICE BusinessTimes November 2014 OVERWORKING 5 6 7

Schedule the most Give yourself time for Set boundaries. important tasks first. unconscious thought. No one can or should be on What are your priorities for the Giving yourself time for 24/7. Yet you probably feel you month? The week? Today? unconscious thought is key to are--because you allow Determine what they are and making smart decisions when yourself to be. Set some do those things first. Why you face complex problems. boundaries: the time you'll stop would you work on less Research shows people tend to working, certain times you'll do important tasks when the truly make their best decisions when things with your family, certain important items are where you they have an opportunity to times you won't take calls, etc. create the most value--whether review the data and facts and Then let people know those for your business or your life? then focus their thought on boundaries. Other people won't something else for a while. respect your time unless you How? Take a walk. Do a respect your time first. mindless chore. You'll be surprised by the solutions you can dream up when you aren't purposely trying to be creative.

8 9 10

Be strategic with ‘yes’ Tame your Remember your and ‘no.’ distractions. impact on other You can't say yes to everything. Most people are distracted over people. (Well, you can, but you won't 30 times an hour: phone calls, If you're a leader--and since get everything you say yes to) emails, texts, office drop-ins... you run a business, you Sometimes you simply need to The list is endless. Schedule definitely are--you naturally say no. Other times you can blocks of time when you'll turn impact other people. You set a say, ‘No, unless...’ and add off alerts. The only way to stay direction. You set a standard. stipulations. The same is true on schedule is to work on your You're a role model. Be a great with yes: Saying, ‘Yes, but only own schedule--not on that of role model: a person who gets if...’ creates guidelines. Always other people. important tasks done, who consider the effect of a request stays on point, who focuses on on your most important goals. achieving goals and dreams ... An automatic yes also and who helps other people automatically takes time away achieve their goals and from what you need to get dreams. done.

November 2014 ICE BusinessTimes 79 Movies

ALL IS WELL Bangladeshi movie theaters experiencing some warmth in previously unused Cineplex seats

The minute Ananta Jalil Announced his next film ‘Most Welcome 2, we all knew another blockbuster is on its way. After all it is the most expensive film ever made in history of bangladeshi cinem. Most Welcome Series is undoubtedly Dhallywood’s biggest franchises and Most Welcome 2; The second film of ‘MW’ Series has better to offer. With Ananta Jalil playing the protagonist the director has bought several change to the cast, In Most Welcome 2 While Shimul Khan played an antagonist; Bollywood actress Bipasha Basu was hired to do an item song for the film. Great casting choice, big budget, Eid release; Most Welcome 2 was a solid blockbuster material.

80 ICE BusinessTimes TNovember 2014 BANGLADESHI MOVIE

Jalil deserves kudos. Despite criticism from some naysayers, He persevered and today he is the biggest superstar of Dhallywood and first Bangladeshi actor to become an actor-turned-brand ambassador of Grameenphone. Undoubtedly Bangladesh’s most people will be Expensive film, Most Welcome 2 was made with a giant budget of Tk. 20 billion. Around Tk. million was spent only on the heroine’s surprised by his costumes; ironically more than the budget of Bangladeshi Films which were used to be made 2-3 years ago. new idea of The story is about a Bangladeshi scientist who creates a Antidote of a deadly disease spread across the earth but It doesn’t go too promoting the film well the Underworld Mafia. They go after the Scientist (Barsha) to kill her, But A Honest Police Officer (Ananta Jalil) stand against and also said the the Mafia in order to save the people who have been infected by the virus. In a recent interview with a leading Bangladeshi newspaper, he way he will said that ‘people will be surprised by his new idea of promoting the film and also said the way he will promote his film has never promote his film been done in any south asian countries including India has never been (Bollywood)’. Here are few key reasons why Most done in any Welcome 2 made History at Box Office south asian Bangladesh: 1. Big Budget means better Production countries 2. Ananta Jalil means blockbuster, maybe because he only comes up with only one film every year including India 3. Eid Release defines success, till now all films that released during Eid in Bangladesh has been able to get success at Box (Bollywood) Office 4. Mass Fan Follower of Ananta Jalil; Doesn’t Matter in a good way of bad way, In Fan Following; Along Shakib Khan , Ananta Jalil is the leading Actor of Dhallywood. 5. Film is releasing in Europe and USA in more than 60 Theaters. Current overview Probably the Bangladeshi movies’ biggest competition so far, two of the dhallywood’s biggest superstars has come face to face this Eid Ul Azha. The audience saw the recent release of Arefin Shuvo’s much talked about film Kistimaat and Shakib Khan’s controversial films. According to media and some leading newspapers, Shakib Khan has attracted more theaters for his films but it was Arefin Shuvo who is more favored by the audience. As per sources, Kistimaat has opened in 70 theaters across Bangladesh and is awaiting for more theaters on coming weeks. Shakib Khan has come under controversy by releasing three of his films on same day. Hitman; his first film has stirred a lot of controversies due to the fact that the film is copy of some South Indian film; there are also rumors that Shakib Khan has bribed the censor board into lifting ban from the film. His other two films also did not receive any acclaim from audience due to poor script, and other reasons. On the other side Kistimaat received praises from both audiences and critics for its originality and outstanding performance from the cast. Kistimaat scored a massive hit at the box office and still running packed house all across Bangladesh with collection of 1.65 crores in 3 days, According to the director, Kistimaat is riding high in Box Office.

November 2014 ICE BusinessTimes 81 Music BROKEN GUITAR PLAYS NO MORE Rampant piracy still going on despite strong counters

Music piracy in Bangladesh currently costs the industry $180m (nearly Tk14bn) in lost earnings, with only 5-10% of the total market consisting of legal music purchases, according to a 2008 research by Havocscope, a global black market data provider. The debate swings both ways, with retailers often claiming they have full rights over the music, if it is bought by then from musicians. On the other hand, musicians and composers argue it is their creative and intellectual property, and so, the credit must be attributed at all times. ‘Our right to creativity is absolute,’ said Hamin Ahmed, President of Bangladesh Musical Bands Association (BAMBA) and lead vocalist of legendary band Miles. ‘You must acknowledge the rights of the musicians. Just because we give them the rights to sell, [it] does not give them ownership over our work.’ Former president and fellow musician Maqsoodul Haque said that since 2007 major bands had stopped releasing albums because they were not given the proper rights to their music. In a recent press briefing, they demonstrated a report on the music trade by Channel 24, which documented details of how musicians are robbed of due credit to their music. Copyright Adviser Manzur Rahman focussed on the lack of awareness about the issue, and urged fans and the media to collaborate with the BCIPF to support artistes to retain their rights to their creative works. Musician Manam Ahmed, who has been involved in the industry for over four decades, said: ‘You support us, and we will keep singing for our people. We will not stop.’ Responding to a query from an aspiring musician in the audience who had an unfortunate experience with a producer, artist and singer, Biplob said: ‘It is time for us to stand up and develop ourselves!’ Imran Rabbani, a musician who was involved in the industry for 10 years and was in the audience, said egos stood in the way of band members. ‘It often leads to tensions and makes it difficult for musicians to also deal with external problems.’ He added: ‘This battle of copyright needs to be fought

82 ICE BusinessTimes November 2014 COPYRIGHT PIRACY

globally, because the music industry has evolved from vinyl records to cassettes, to CDs and Mp3, and will continue to develop. If the big players do not take action globally, there can only be temporary solutions.’ Globally, the music industry is now dominated by digital music formats, revolutionised by Apple Inc with the introduction of iTunes and the iPod music player, which has negated the concept of albums and turned the focus on earnings from singles released by artists and bands. Furthermore, according to the International Property Rights Index 2011 Report, Bangladesh, in terms of Intellectual Property (IP) protection, positions itself at 125th out of 129 countries. On the other hand, record label owners blame that the artistes give away their intellectual properties – their songs – absolutely free to online websites and FM radio stations, from where no revenue is generated. And this is only done for the artistes self promotions which are why even if the album is commercially successful, it does not sell according to the projected amount of sales. Speaking to A B M Hamidul Mishbah, Barrister-at-Law, Supreme Court of Bangladesh and Counsel of The Legal Circle, he said, ‘Lack of awareness about the existing Copyright Law has been the predominant reason for the ever increasing piracy in Bangladesh. Users of intellectual property or any creative works, that is, contents used in media and within the creative and media industry, hardly pay any heed to observe the Copyright Law. Almost all of the media houses including the government owned ones do not seem to comply with the copyright law and do not have an internal compliance system in place, as far as media laws or copyright law are concerned’. Nazmul Haque Bhuiyan, the owner of G Series, refuted by saying that ‘There are three ways by which we are losing a lot of revenue – The FM radio stations not ‘Lack of giving any royalty for the songs they are airing, the illegal websites hosting mp3s for free download and a awareness large amount of shops selling pen drive/memory cards about the who provide illegally reproduced media contents in CDs and pen drives for only Taka 20 to 35’. existing ‘Even four years back, there used to be almost 1,000 audio/video albums released each year but today, due to Copyright Law piracy in media, this release has come down to a measly has been the 100 to 200 albums. All the above mentioned three reasons are the cause of this downfall. Moreover, there predominant was a time, 10 years back, when we used to sell 90 per cent of Bangla albums as opposed to 10 percent Hindi reason for the albums but today, due to the FM stations playing more ever increasing Hindi songs, this ratio has come down to 30 percent Bangla album sales against 70 percent Hindi albums. piracy in This is absolutely disastrous and together we all need to fight for our media and promote Bangla songs to ensure Bangladesh our success’, Bhuiyan added.

November 2014 ICE BusinessTimes 83 Sports

The recently published Soccerex Transfer THE GRANDEST Review by Prime Time Sport has put again English Premier League in the spotlight, with the news that in the winter transfer STAGE OF window it monopolized 52% of total invest- ment by top 5 European leagues. The report, which provides insightful analysis THEM ALL of player transfer activity in Europe since How the English Premier 2009, showed that English top division sides investment in new players at season League has magnanimous 2013/14 -including both summer and contributions to business winter transfer windows- grew 15% to 881mio€. It is the highest amount in histo- ry, it doubles the likes of Italian Serie A, French Ligue 1 and Spanish La Liga and it even quadruples the investment by successful German Bundesliga. In fact, Barclays Premier League has consistently topped the investment in new players in the 10 editions (2 per year) of Prime Time Sport transfers report and that has just been relaunched in partnership with Soccerex. The report has also highlighted some other interesting data about the Premier League and its teams, like Chelsea being the most active side in Europe at winter transfer windows, since during the last 5 years the blues have bought players for €181 million and sold for €82 million in January. English top division is also the tournament with most spread distribution of invest- ment, with top 2 teams (Chelsea and Tottenham) accounting for 29% of total 2013/14 expenditure of the league and top 4 (adding both teams from Manchester) accounting for 50%. On the opposite side, Real Madrid and FC Barcelona monopo- lized 62% of investment at La Liga and PSG and Monaco 73% at Ligue 1. A revenue generation machine The Premier League investment strength is obviously driven by the capacity of the league and its teams to generate more revenues globally and consistently overtime. As published at Deloitte’s latest Annual Review of Football Finance, English top division sides generated in total €2.9 billion at season 2011/12, 53% more than Bundesliga and 61% more than La Liga. Furthermore, Premier League has as much as 6 sides among top 14 teams generating the highest revenues in Europe as shown by Deloitte 2014 Money League report.

84 ICE BusinessTimes November 2014 ENGLISH PREMIER LEAGUE

of the table (as shown at latest edition of Soccerex Transfer Review by Prime Time Sport). 4. Stadium attendance and fan engagement: The high number of thrilling games, coupled with reasonable ticket prices results in full stadiums week after week and passionate fans cheering for their team. As a consequence, English Premier League matches are 92% full (the highest rate in Europe along with Bundesliga). It is also remarkable the way fans support their teams on away games, massively travelling all over England even on cold winter weekdays and often becoming the best clients for hosting teams. 5. Sponsorship deals: So a league producing recurrent advertising But what drives this unparalleled generous TV revenue distribution impacts all over the world revenues success? Obviously it is model in Europe, as the ration combined with full stadiums not about magic as it is not either between the team that makes the with cheering fans is a very about the size of the country or a most (Manchester United with attractive proposition for better situation of the overall econo- around €73 million in 2013/14) sponsors globally. In this sense, my. The continued growth of and the one which gets the all 20 Premier League sides carry revenues of English Premier League lowest amount (QPR at €48 a shirt sponsor and 15 out of the can be explained by 6 factors that million) is just of 1.5 to 1. This 20 sponsors are global brands or positively impact each other and compares with 10 to 1 at La Liga companies overseas headquar- that all together provoke an amaz- (the only league where clubs sell tered. More importantly, overseas ing multiplier effect on revenues TV rights individually), 4.2 to 1 lucrative deals are not only when the whole cycle is completed. at Serie A, 3.6 to 1 at Ligue 1 and restricted to the top teams and Let’s see… 2.2 to 1 at Bundesliga. the likes of Sunderland, Crystal 1. TV value and reach: As a result of 3. The best game: The fact that even Palace, Everton and Swansea having a high value product, the smallest teams get an import- have shirt sponsors South Africa, English Premier League has the ant portion of TV revenues Dubai, Thailand and China. most lucrative TV rights results in a much higher ability 6. Higher value product: All factors contracts, which have reached an to buy new players for them all. together end-up producing a astonishing pick for 2013-2016 For instance, the 3 teams that higher value product to sale. cycle at around 2,1bio€ per promoted to the Premier League Better quality matches, most of season and more than 50% above for season 2013/14 –Cardiff City, the best players on the pitch, previous cycle amounts. None of Crystal Palace and Hull City- more unpredictable results, the other top European leagues spent on average €37 million in widespread impacts for sponsors even reaches 1bio€ per season; new players transfer fees, which and beauty image on TV keep on Serie A follows at €950 million, compares with a total of €16.6 resulting, cycle after cycle, in while La Liga and Bundesliga million spent by promoted sides more and more lucrative deals make around €600 million per Villarreal (16 of them), Elche and and therefore more and more season). Furthermore, Barclays Almeria at La Liga. So with more cash availability to keep on Premier League games have the money on the pitch matches are spending in new players. widest global distribution, which in general more even and results Premier League has therefore facilitates brand development less predictable. And that’s why become the most successful domes- and fan acquisition by participat- Premier League has one of the tic club football competition and the ing teams. highest winners rotation among participation aspiration for all 2. TV revenues fair distribution: top European leagues and lowest players. And it will continue like this English top division has the most points ratio among top 3 teams for a long time.

November 2014 ICE BusinessTimes 85 Gadget

OPPOFIND 7

REVIEW Say hello to By Saad Mahmud the new big player in the smartphone market

The Find 7 pairs top-notch Hardware some things worthy of praise. Take performance with one of the If Oppo's R1K (which we review last the overall construction of the highest-resolution screens you'll month) pushed the boundaries of device, for instance. Despite being find on a mobile today -- hardly a sensible smartphone design, then crafted out of plastic, there's no give, formula to sneeze at. But is it worth the Find 7 is a celebration of the no creaking, not even the slightest the Tk. 48,000 asking price? Is Oppo slabby status quo. With its suggestion of physical inadequacy. really a mobile force to be reckoned squared-off corners, flat sides and Oppo may not be a name you run with? Follow me, friends, and we'll plain black face, the whole thing is across too often, but there's little figure it out together. almost unapologetically monolithic. question that the company brought The Find 7 is Oppo's best phone to The only real concession to the its A game when it came time to date, and that means something for notions of grip ability and comfort is putting the Find 7 together. a relatively unknown company the gently curving (and removable) that's already put out some solid backplate. Display and Sound phones. Its combination of strong There's a fine line between subtle If there's one spec, one technical performance and a Quad HD screen and boring, and the Find 7 skews tidbit that makes the Find 7 such a make it a worthy choice, so long as toward the latter end of that desirable piece of kit, it would be you don't mind learning a new flavor spectrum. Before you accuse me of that 5.5-inch Quad HD (2,560 x of Android. being too harsh, know that there are 1,440) IPS display. Oppo's design

86 ICE BusinessTimes November 2014 OPPO FIND 7

means the device lacks the kooky charm that made the N1 such a head-turner. As it turns out, the Find 7 actually uses the same 13-megapixel Sony Exmor sensor as the (much cheaper) OnePlus One, which means most of the imaging issues we've run into in the past are still present. I'd hardly call any of them dealbreakers: Soft focus will occasionally (and subtly) mar some of your more frenzied shots, and color saturation isn't quite as punchy as I'd like. In optimal conditions, you won't have to worry about these issues as much, but it's still disappointing to see an otherwise ambitious phone let down by a decidedly average camera. philosophy this time around seems Its to reflect that very fact -- the Find's combination of face is so unassuming that there's Performance nothing for your eyes to lock onto So far, the Find 7 seems like a mixed strong performance except for the screen. That's why it's bag, with its lackluster looks and and a Quad HD a bummer to have to proffer this largely impressive display. Now screen make it a reality check: For all the commotion here's the real question: What's it worthy choice, so the Find 7's screen has caused in like to actually use? Surprise, geekier corners of the web, it still surprise: As it turns out, a snappy long as you don't has its share of flaws. Don't get me processor paired with 3GB of RAM mind learning a new wrong: It's just as crisp as makes for a device that basically flavor of advertised, with individual pixels screams if you give it the chance. Android that are impossible to pick out with Put another way, you may not have the naked eye, and viewing angles heard of the Find 7 (or the company that'll make you popular with your that made it), but it'll handle airline seatmates. everything you throw at it during I don't expect much from most phone your daily grind and then some. speakers. It's frustrating to see There's no need to belabor the point manufacturer after manufacturer too much considering it rocks a spec cut corners and take shortcuts on a sheet that'll seem awfully familiar if crucial part of the media experience, you've fiddled with other recent so you'll just have to imagine my flagships. surprise when the Find 7's rear speakers came to life in a big way. Yes, that's speakers, in the plural -- Summary The Find 7 is Oppo's best phone to there's a single grille drilled into the date, and that means something for 7's backplate, but it actually a relatively unknown company obscures a pair of speakers that that's already put out some solid renders audio with a clarity that's phones. Its combination of strong downright unusual for a performance and a Quad HD screen smartphone. make it a worthy choice, so long as you don't mind learning a new flavor Camera of Android. Priced at a steep Tk. Say goodbye to the swiveling selfie 48,000, it may face stiff competition camera of days past -- Oppo went from Samsung, LG, Sony and other with a more traditional camera brands, but it acts as a classy setup this time around, which alternative to the big brands.

November 2014 ICE BusinessTimes 87 Tourism

KUAKATA TODAY

How Kuakata has evolved into Bangladesh’s next sought-after travel destination

Photos by Sk. Yeahhia

Like most other people of Last year, I had the good fortune of Bangladesh, I have been to Cox’s going to Kuakata, as part of a travel Bazaar. I mean, who hasn’t? Almost group. The main purpose of the trip everyone I know has been to Cox’s was to visit different locations of Bazaar for at least once in their Kuakata with the overriding lives. It is one of the most objective of practicing some good commonly and frequently visited quality travel photography. One of tourism spots of Bangladesh. the main obstacles of visiting However, the same is not true about Kuakata is the mode of Kuakata. Only about 10% of the transportation. Firstly, there are no people you know have probably A/C bus transportation services. All been to Kuakata. There are many, the buses are non-A/C ones and the many reasons why Kuakata has not conditions of these buses are not become a tourist attraction magnet very good, both hygienically and similar to the Cox’s Bazaar. mechanically.

88 ICE BusinessTimes November 2014 KUAKATA TODAY

The second main obstacle is the length and quality of the journey. This literally means that this is no journey for the faint-hearted. While travelling by bus, the journey may take anywhere from twelve hours to eighteen hours. This is mainly due to the fact that the bus journey consists of five (yes FIVE!) ferry crossings, the most difficult hit-and-miss one being the infamous Mawa ferry crossing. Another fact equally contributing to the difficulty of the journey is the extremely, and dangerously, dilapidated conditions of the road. By the time we reached Kuakata, after thirteen hours’ night journey, we were feeling sore all over. Incessant “rocking” and bumpiness of the road had put us all on edge. We disembarked right in front of a crumbling and aging Parjatan Hotel. The rooms were modest in nature, and the toilet/washrooms had seen better days. All in all we were not complaining about our budget accommodation (Tk. 700 for non-A/C twin bed rooms). right. My first and lasting which red crabs frequent, is also a We were eager to get the beach and impression of Kuakata is that it is a point of interest for tourists. You will the sea as soon as possible but reasonably quiet fishing village be able to visit Kakrachar en route to before we did that we were even where some adventurous travelers Gangamoti. On the other hand, a more eager to fill our tummies. The dare to venture. The population of short bike ride towards the right long journey had made us all the area is not very dense and the from the main beach area will take ravenously hungry. The road in front whole of kuakata is not very you to Lebu Bagan (Lemon Garden). of our hotel led straight down to the developed. There are a few Other than these areas, other points beach. Adjacent to this road, on both smatterings of new buildings, of interest include a visit to the sides were quite a few local mostly labeled as some kind of Rakhine Polli where you will be able restaurants, which catered to the hotel or other. The beach and the to visit the century old Buddhist needs of locals and tourists alike. sea side are beautiful, clean and Temple and also where the Rakhine We usually had parathas with egg tranquil, with none of the dense weavers weave cloths using fries and shabzee for our breakfasts crowd or hawkers commonly traditional manual weaving during our stay at Kuakata. The associated with Cox’s Bazaar. You machines. quality of the breakfast food was can have your peace at Kuakata. My overall conclusion is that if you agreeable to us and we literally You can just walk the pristine beach are on a tight budget, you love the wolfed down paratha after paratha or sit under one of the few beach sea-side and you are not shy of some with healthy helpings of shabzee lounging chairs available or enjoy adventurous extreme traveling, then and egg fries. Lunch/dinner at the cheap local sea food (be sure to try Kuakata is the place for you! local restaurants are also quite good the local small shrimps.) Compared to Cox’s Bazaar, the and cheap. Be sure to try out the Interestingly, there is a marked expenses associated with Kuakata local sea food, such as the small absence of rickshaws at Kuakata. are considerably lower. However, on shrimps, pomprets, hilsha, etc. Kuakata is quite close to Khulna and the downside, there aren’t as many If Cox’s Bazaar can be considered as the Sundarbans and a short bike activity options when compared to a tourist attraction spot, then ride from the main beach area in the Cox’s Bazaar. Choose Kuakata for Kuakata will have to be considered left direction will take you to the the love of travelling, adventure and as a fishing village. Yes, that’s mangrove forests at Gangamoti. An access to a treasure trove of area called kakrachar (crab beach) photography subjects!

November 2014 ICE BusinessTimes 89 Hot on Wheels

What first comes to mind when you which Lamborighini still promises the electrical grid. Most PHEVs on build a new vehicle. This is called damaging to the environment than have smaller engines, twinned with hear the brand name Lamborghini? with an exceptional range of 50Km the road today are passenger cars, ACEV-to-PHEV conversion. There their predecessors. Some of the new superchargers or turbochargers. Isn’t it a gruesome design with on the battery alone. As the LPI but there are also PHEV versions of are several companies that are generation of sports cars do this This gives a compact four-cylinder complicated aero dynamic edges? A 910-4 is just a technology commercial vehicles and vans, converting fossil fuel non-hybrid with hybrid engines. The engine the characteristics of a beastly appearance with massive demonstrator, which means that utility trucks, buses, trains, vehicles (also called all-combustion Lamborghini Asterion, for instance, much more powerful machine engine boasting immense power this concept may not be bound for motorcycles, scooters, and military engine vehicles) to plug-in hybrids. has a big V8 petrol engine as well under racing conditions. With less and speed? A lowly design gaping production anytime soon. Elements vehicles. Compared to conventional as three electric motors powered by aggressive driving, on the other and inch from the ground? Well, of its hybridization efforts and vehicles, PHEVs reduce air The new Lamborghini Asterion LPI a lithium-ion battery. That hand, they can be surprisingly fuel that isn’t the case this time with design, however, are sure to find pollution locally and dependence 910-4 is, for now, just a concept combination allows it not only to efficient. Lamborghini. their way into future Lamborghini on petroleum. PHEVs may reduce vehicle, revealed at the Paris Motor launch from 0 to 100kph (60mph) Greener sports cars do not come vehicles. greenhouse gas emissions that Show a few weeks ago. However, in just three seconds, but also to cheap, however. Lamborghini has The Asterion LPI 910-4 is a concept contribute to global warming Lamborghini is not the only drive for short distances on battery already admitted that the Asterion car with a Plug-In-Hybrid-Concept A PHEV shares the characteristics compared with conventional carmaker feeling that it must feed power alone. A similar system is likely to be the most expensive power train that significantly of both a conventional hybrid vehicles. PHEVs also eliminate the on Hybrid Powers. This year's Paris powers the new Porsche 918 Spyder model it has ever built. But with reduces the carbon emission. Most electric vehicle, having an electric problem of range anxiety show has served several powerful supercar. Others, such as Ferrari’s environmental regulations hybrid cars would lack power, motor and an internal combustion associated with all-electric vehicles, vehicles, such as the Bentley LaFerrari and McLaren’s P1, use a becoming ever tighter, engine; and of an all-electric because the combustion engine Mulsanne Speed, the Ferrari 458 hybrid system originally designed manufacturers have realised that vehicle, having a plug to connect to works as a backup when the Speciale A and Ford's for Formula One racing, which they must find ways of improving batteries are depleted, giving 50th-anniversary edition of the helps them reach speeds of up to their sports cars' fuel economy—or PHEVs driving range comparable to Mustang. Such products might 320kph with much lower fuel die. other vehicles with gasoline tanks. seem an anachronism at a time consumption than an internal THE And with Lamborghini running on when regulators in America, Europe combustion engine alone. PHEV, more and more cars in the and other parts of the world are But not all are going hybrid. Some, future are bound to take this tightening fuel-economy standards. such as the new Ford Mustang, TECHNOLOGY technology as a primary driving But a look under the bonnet of gear. Moreover, a Retrofit Lamborghini's latest model reveals electrification requires only how firms are finding ways to build DEMONSTRATOR one-fifth the energy required to cars that are powerful yet less Lamborghini’s environment friendly monster

90 ICE BusinessTimes November 2014 LAMBORGHINI

What first comes to mind when you which Lamborighini still promises the electrical grid. Most PHEVs on build a new vehicle. This is called damaging to the environment than have smaller engines, twinned with hear the brand name Lamborghini? with an exceptional range of 50Km the road today are passenger cars, ACEV-to-PHEV conversion. There their predecessors. Some of the new superchargers or turbochargers. Isn’t it a gruesome design with on the battery alone. As the LPI but there are also PHEV versions of are several companies that are generation of sports cars do this This gives a compact four-cylinder complicated aero dynamic edges? A 910-4 is just a technology commercial vehicles and vans, converting fossil fuel non-hybrid with hybrid engines. The engine the characteristics of a beastly appearance with massive demonstrator, which means that utility trucks, buses, trains, vehicles (also called all-combustion Lamborghini Asterion, for instance, much more powerful machine engine boasting immense power this concept may not be bound for motorcycles, scooters, and military engine vehicles) to plug-in hybrids. has a big V8 petrol engine as well under racing conditions. With less and speed? A lowly design gaping production anytime soon. Elements vehicles. Compared to conventional as three electric motors powered by aggressive driving, on the other and inch from the ground? Well, of its hybridization efforts and vehicles, PHEVs reduce air The new Lamborghini Asterion LPI a lithium-ion battery. That hand, they can be surprisingly fuel that isn’t the case this time with design, however, are sure to find pollution locally and dependence 910-4 is, for now, just a concept combination allows it not only to efficient. Lamborghini. their way into future Lamborghini on petroleum. PHEVs may reduce vehicle, revealed at the Paris Motor launch from 0 to 100kph (60mph) Greener sports cars do not come vehicles. greenhouse gas emissions that Show a few weeks ago. However, in just three seconds, but also to cheap, however. Lamborghini has The Asterion LPI 910-4 is a concept contribute to global warming Lamborghini is not the only drive for short distances on battery already admitted that the Asterion car with a Plug-In-Hybrid-Concept A PHEV shares the characteristics compared with conventional carmaker feeling that it must feed power alone. A similar system is likely to be the most expensive power train that significantly of both a conventional hybrid vehicles. PHEVs also eliminate the on Hybrid Powers. This year's Paris powers the new Porsche 918 Spyder model it has ever built. But with reduces the carbon emission. Most electric vehicle, having an electric problem of range anxiety show has served several powerful supercar. Others, such as Ferrari’s environmental regulations hybrid cars would lack power, motor and an internal combustion associated with all-electric vehicles, vehicles, such as the Bentley LaFerrari and McLaren’s P1, use a becoming ever tighter, engine; and of an all-electric because the combustion engine Mulsanne Speed, the Ferrari 458 hybrid system originally designed manufacturers have realised that vehicle, having a plug to connect to works as a backup when the Speciale A and Ford's for Formula One racing, which they must find ways of improving batteries are depleted, giving 50th-anniversary edition of the helps them reach speeds of up to their sports cars' fuel economy—or PHEVs driving range comparable to Mustang. Such products might 320kph with much lower fuel die. other vehicles with gasoline tanks. seem an anachronism at a time consumption than an internal And with Lamborghini running on when regulators in America, Europe combustion engine alone. PHEV, more and more cars in the and other parts of the world are But not all are going hybrid. Some, future are bound to take this tightening fuel-economy standards. such as the new Ford Mustang, technology as a primary driving But a look under the bonnet of gear. Moreover, a Retrofit Lamborghini's latest model reveals electrification requires only how firms are finding ways to build one-fifth the energy required to cars that are powerful yet less

November 2014 ICE BusinessTimes 91 Word of Mouth

Charity Run Event Held at Westin Dhaka As a part of Care for Community Program, The Westin Dhaka had arranged a Charity Run on October 12. The aim of this event was to raise social awareness for the unprivileged community. The same event was held at the same date in 60 locations across the Asia pacific in different properties. The event included a run program where senior management, invited guests, corporate officials of The Westin Dhaka and Gulshan Joggers’ club members participated. As a part of the program Westin Management raised a fund and donated it to a Charity organization- Ashic Foundation, A shelter for helpless ill children. To support this volunteer event Media Personality Emon, Safa Kabir and Tawsif participated along with the Westin Management. Li & Fung, Pepsi, Europa was the event partner.

‘My Burberry’ Brought to You by Bangla Perfume To let the beautiful ladies of this land celebrate their Eid-ul-Adha as well as Durga Puja with the best, Bangla Perfumes Distributors Ltd, the topmost fashion brand fragrance distributor of the country launched MY BURBERRY, the most prominent female perfume coming from the famous British fashion house Burberry. The fragrance symbolizing individuality, sensuality, and optimism of a woman, now being ranked among the top 10 fragrances in the world today unleashed its voyage for the local enthusiasts over a ceremony held on 27th September at the Ground Floor of Bashundhara City Shopping Mall. Legendary actress Joya Ahsan was the Chief Guest to celebrate the beginning of My Burberry here in Bangladesh. Eminent media person Sharmin Lucky also graced the floor as the special guest. `Fragrance works through our olfactory organs and keeps us fresh and energized throughout the day,’ said Joya answering to a question by one of the reporters. Bangla Perfume offered free sampling opportunity for the visitors. Afterwards, all of them paid a visit to Perfume World, Bangla Perfumes’ exclusive outlet, located on the sixth level of the Shopping Mall. Happy faces were seen taking selfies and uploading on net to share the excitement of the moment with other friends. All members of the Bangla Perfume family including Khandoker Nazrul Islam, CEO; Md Faridul Hasan Chowdhury, Chairman; Md. Zakir Hossain, Executive Director were also present at the event.

November 2014 ICE BusinessTimes 93 WORD OF MOUTH

Flytxt receives Stevie® Award for Nokia mobile marketing campaign Flytxt, the leading Big Data Analytics solution provider for Communication Service Providers (CSPs), announced that the company was presented with the Bronze Stevie® Award for the ‘Mobile Marketing Campaign of the Year’ at a gala ceremony for ‘The 11th Annual International Business Awards’ in Paris on Friday, 10th October, 2014. The Nokia handset promotional campaign executed by Flytxt’s mobile ad marketplace, mADmart, in Bangladesh, was adjudged as one of the top three campaigns in this category. The campaign was designed to create buzz for Nokia’s new handsets among young urban consumers in Bangladesh. Grameenphone serving 5 mADmart, Flytxt’s ad marketplace, enabled Nokia to reach 500,000 precisely targeted consumers in the niche segment crore customers in within 2 weeks’ time. Subscriber insights derived from operator Bangladesh data helped in not only identifying potential buyers of new Grameenphone Ltd has become the first ever handsets, but also in extending this campaign only to those mobile telecommunication operator to cross the 5 consumers living near Nokia’s sales outlets, thus, ensuring crore subscriber milestone in Bangladesh. ‘Today maximum conversions. we celebrate our customers with this milestone. Abhay Doshi, Vice President, Product and Marketing, Flytxt, When we started this journey we pledged to said, ‘The campaign is a good example of how operator’s provide uncompromising service to our customers. multi-channel inventory and in-depth subscriber insights can be I am happy to say that we have not wavered and leveraged to deliver better RoI to brands and advertisers. This still strive towards ensuring the best services for reinforces our belief in the immense value that operator data can our customers; our customers remain our utmost generate if right Analytics and business models are applied.’ He priority,’ said Vivek Sood, CEO, Grameenphone. further added that, ‘Consumers also benefit from such He added that, ‘without the whole hearted support analytics-driven campaigns as they receive only relevant offers from all our customers, partners, regulators and through their preferred channel.’ other stakeholders, we could not have come this far.’ During the press conference the GP CEO also referred to the company’s data ambition to serve 50 million internet users on its network within the next five years. Calling the celebration of 5koti customers more than just a celebration for Grameenphone alone, Mr. Allan Bonke, Chief Marketing Officer (CMO), laid out a list of attractive offers for GP customers ‘to celebrate with the company.’ As part of the celebrations offer, Grameenphone 3G subscribers will enjoy double internet speeds on City Bank now at Halisahar, Chittagong their mobile devices with their existing internet City Bank opened its new online branch at Halisahar in packages at no additional costs. Furthermore, Chittagong on October 22. Aziz, Chairman of the bank, customers will enjoy a special limited time offer of inaugurated the branch as Chief Guest while Sohail R.K. 5 paisa per 10 second pulse within the GP network. Hussain, MD & CEO; Mashrur Arefin, Badrudduza Choudhury ‘As the operator with the largest number of and Sheikh Mohammad Maroof, DMDs and other high officials of subscribers we felt that we have the most people to the bank were present on the occasion. celebrate with us. Welcome to the biggest party Rubel Aziz, Chairman of the Bank stated that the opening of new ever,’ the CMO added. The 1st Grameenphone branch at Halisahar is part of Banks’ vision to reach its services subscriber and the 5koti customer, who were both to the doorsteps of its clients. He expressed that the residents and present at the event, were also presented with small & medium business owners of large Halisahar area will be special commemorative plaques at the event. benefited through having access to the top-of-the-line and technology-driven products of the City Bank from now on. The new branch will provide customers with retail loans, deposits, customer care, remittances and other ancillary services.

94 ICE BusinessTimes November 2014 WORD OF MOUTH

Starwood Announces Launch of SPG PRO Starwood Preferred Guest® (SPG®), the award-winning loyalty program from Starwood Hotels & Resorts Worldwide, Inc., announces the live launch of SPG Pro, the all-new, comprehensive loyalty program for meeting and travel professionals. From October 15, registered professionals, accredited travel agents and SPG members who influence group, event and corporate travel will earn SPG elite status, upgrades and Starpoints for B2B business booked at any of Starwood’s nearly 1,200 properties around the world through www.spg.com/pro. As a part of Starwood, The Westin Dhaka has launched the SPG pro on October 15 on focus of best loyalty program to be served to the clients. SCB Presents First ever Day ‘We are thrilled to announce that SPG Pro has Care Centre for Private gone live, allowing us to provide even more personalized service for our global customers and Banks members and to reward them for the business that Bangladesh Bank Governor Dr. Atiur Rahman they influence, whether it is business or leisure,’ officially inaugurated the 1st Day Care Centre for said Christie Hicks, Senior Vice President, private commercial banks operating in Gulshan Starwood Sales Organization. ‘Now any SPG area. As per Bangladesh Banks guidance Standard member, travel professional or meeting planner Chartered Bank took the initiative to lead the will earn Starpoints for the business they project and find a day care centre for the staff influence including corporate off sites, office children of private commercial banks in Gulshan holiday parties or even personal events like area. Along with the Governor of Bangladesh weddings or anniversaries.’ Bank, Jim McCabe, CEO of Standard Chartered Any SPG member who books a group stay, event Bank Bangladesh, high officials from HSBC, Citi or corporate business meeting, regardless of if Bank, UCBL, The City Bank, One Bank Limited, they are a travel professional or not, will earn Exim Bank, Mutual Trust Bank and Habib Bank Starpoints and status for the business they were also present at the inauguration ceremony. influence. The more members book the more they During his speech at the inauguration ceremony earn, which means access to everything SPG has Dr. Atiur Rahman said, ‘Bangladesh Bank is fully to offer and reaching elite status even faster committed to gender-friendly policies and making through combined B2B and personal bookings. bank/financial institutions fully compliant with these policies. Bangladesh Bank has itself established a world class day care centre and wants other banks to do the same in their cluster. As a part of this initiative, we are going to launch the first day care centre for commercial banks cluster in Gulshan under the leadership of Standard Chartered Bank. Let me congratulate them all for this humane gender sensitive initiative. Good Luck.’ Jim McCabe, CEO of Standard Chartered Bank thanked the Governor for giving Standard Chartered the opportunity to lead this project and also appreciated the support of all the private commercial banks in Gulshan area during his speech.

November 2014 ICE BusinessTimes 95 WORD OF MOUTH

Binod K. Chaudhary in Dhaka Pro Vice Chancellor of the Eastern University, Professor Abdul Hannan Chowdhury, Ph.D. invited Binod K. Chaudhary, Nepal’s first Billionaire and Daniel Seidl, Executive Director of Bangladesh SCB Introduces Enhanced German Chamber of Commerce & Industry (BGCCI) to speak about entrepreneurship and leadership at Security for Online a seminar before the business students. Transactions In his speech, the Chairman of Chaudhary Group explained why one has to be a dreamer and follow Standard Chartered Bank recently signed a his or her heart. He mentioned that markets with a Memorandum of Understanding (MoU) with SSL difficult environment provide huge opportunities. Wireless, the largest merchant solution provider, Emerging Markets like Bangladesh give you the for its payment gateway solution platform. chance to explore your ideas and add value to the Through this MoU, SSL Wireless in collaboration customers. He advised the students to use that with CA Technologies, will help secure online momentum today and go forward with their ideas. transactions made by the bank’s credit and debit ‘The key to success is discipline,’ he added. cardholders with the new 2-factor authentication Daniel Seidl from BGCCI said that Bangladesh is in (2FA) feature. a way a lot like Germany where 80% of enterprises The 2FA is an enhanced security feature which is are of small and medium sizes. According to him, applicable for all the local and international what entrepreneurs need are: vision, passion, transactions made by the bank’s customers. This ability to make time appropriate decisions, learn feature enables the bank to send a unique from mistakes and transparency. Being an password to the customers’ mobile numbers and entrepreneur means to take responsibility and not email addresses recorded with the bank. This just to make some quick money like a trader. The password will be sent to the customers only after key is vocational training and empowering the the credit or debit card information is provided midlevel management and not to hire mainly during the transaction, without which customers family members and friends,’ he added. will be not able to perform their online transactions. Aditya Mandloi, Head - Retail Clients, said, ‘Standard Chartered Bank is heavily focused on digital platforms which will provide our customers with increased convenience and ease of transactions. This new enhanced security feature will provide all Standard Chartered credit and debit cardholders, the convenience of banking with us and also peace of mind for all their online transactions. This endeavor also goes to show that Standard Chartered Bank is here for progress.’

96 ICE BusinessTimes November 2014