Demand for high quality, safe electrical cables growing in BD
The demand for high quality and safe electrical cables are growing fast in the country, speakers said at a programme in the capital recently, says a statement. To meet the demand, RR-Imperial Electricals, a leading electrical goods maker in the country, announced production of safe and high quality cables at its factory. The National Partners’ Meet 2017-18′ of the country’s electrical manufacturing and supplying company. RR-Imperial Electricals Limited’s Chairman Tri Bhuban Prasad Kabra and Director and Chief Executive Officer (CEO) Mahbub Hossain Mirdha attended the programme and spoke. The theme of this year’s national partners’ meet was ‘Committed, connected’. The company awarded the ‘best partners’ with crests and certificates for their outstanding performances at the national and regional levels.
Post Office to bring digital financial service
A new digital financial service platform will hit the market within the next couple of months with a view to enhancing financial inclusion to the most rural corners of the country. Called the Nagad, it will be run by the Bangladesh Post Office, which will leverage its vast network across the country, in partnership with Third Wave Technologies, the software developer, under a public-private partnership model. People will be able to access the service using mobile phones and other user-friendly financial tools. Though yet to be fixed, the payment modalities promise increased financial freedom with additional security and control. Certainly the government’s allowances and funds will be disbursed through this platform, adding that the platform is targeting to engage about 2.5 lakh entrepreneurs. Employees of the existing 9,886 post offices across the country will act as agents for Nagad. The post offices have over 100 years’ experience in managing financial transactions. Bangladesh Post Office has experience in facilitating financial transactions for the marginal population under different projects of World Bank, the International Committee of the Red Cross, the United Nations Development Programme, a2i, World Food Programme and others.
Human Capital Index: Bangladesh outshines India, Pakistan
A child born today in Bangladesh would be more productive than his peers in India and Pakistan, as the country fared better than its larger regional competitors in a new World Bank ranking. Bangladesh has outpaced both the South Asian average and the lower middle-income average in all criteria, except for stunting, in the first Human Capital Index (HCI) prepared by the World Bank. Students in Bangladesh scored 368 on a scale of 625, with the highest representing advanced attainment and 300 representing the minimum attainment. Additionally, Bangladesh ranked 106th among 157 countries that were used by the WB for the list. Sri Lanka topped the list among South Asian countries, with a ranking of 72. Nepal was placed at 102, India at 115, Afghanistan 133, and Pakistan 134. in Bangladesh, 97 percent of children are likely to survive to the age 5 and about 87 percent of 15-year olds are likely to survive to the age 60. A country score of 0.5 means that individuals — and the country as a whole — are forgoing half of their future economic potential. Calculated over 50 years, this translates into deep economic losses: a 1.4 percent annual loss in GDP growth. Bangladesh’s strong track record of poverty reduction and development shows that with the right policies and actions, further progress is possible.
Premier Bank int’l education expo begins
A two-day international education fair titled ‘Premier Bank International Education Expo – 2018’ started at a city hotel on Saturday. Association of Foreign Admission and Career Development Consultants (FACD-CAB) organised event. Premier Bank Student File Service is one of the unique retail banking services of the bank to provide customised banking solutions for the students going abroad for higher education. Premier Bank is sponsoring the expo for providing opportunities to the students so that they can enhance their knowledge through conversations with agents of some of the renowned universities.
BD joins UNHRC as member
Bangladesh has been elected a member of the United Nations Human Rights Council (UNHRC) for the next three years in an election that took place in New York on Friday. Bangladesh bagged 178 votes in the election where the members of the UN General Assembly voted.
DBBL witnesses 39.77pc net profit growth in 2017
Dutch-Bangla Bank Limited (DBBL) registered a growth of 39.77 per cent in net profit to Tk 2.46 billion in 2017 as compared to that of the previous year. According to the DBBL, the bank’s profitability rose moderately in 2017 due to its efforts to ‘grow and diversify’ its portfolio. The bank also exhibited a steady growth in revenue earnings and deposits during last five years through effective operations. The bank’s net profit was Tk 2.0 billion in 2013, Tk 2.21 billion in 2014, Tk 3.02 billion in 2015, Tk 1.76 billion in 2016 and Tk 2.46 billion in 2017. The company’s total deposit was Tk 145.23 billion 2013, Tk 166.76 billion in 2014, Tk 186.76 billion in 2015, Tk 207.23 billion in 2016 and Tk 233.79 billion in 2017. The bank’s earnings per share (EPS) and net asset value (NAV) also rose moderately in 2017 compared to the previous year. The bank’s ratio of non-performing loans (NPLs) to total loans varied between 3.7 per cent and 5.2 per cent during 2013 to 2017. The ratio of NPL to total loan was 3.9 per cent in 2013, 4.4 per cent in 2014, 3.7 per cent in 2015, 5.2 per cent in 2016 and 4.7 per cent in 2017. The bank reported its total provisioning of Tk 1.03 billion in 2013, Tk 805.6 million in 2014, Tk 166.6 million in 2015, Tk 2.28 billion in 2016 and Tk 390.2 million in 2017. The company’s classified loans to total loan were 3.9 per cent in 2013, 4.4 per cent in 2014, 3.7 per cent in 2015, 5.2 per cent in 2016 and 4.7 per cent in 2017. The company’s share price closed at Tk 129.80 each on Thursday with a fall of 0.46 per cent.
Rangpur landless cultivators growing veg on floating beds
A good number of landless peasants under Pirgachha upazila in the district are getting financially benefited through farming vegetables on floating beds. These extreme poor people have shown how to cop with the adverse circumstances by adopting such innovative method of food production for their survival. Despite having no piece of cultivable lands of their own they have achieved remarkable success in farming crops on floating beds in discarded water bodies. Thus they are also encouraging others to follow their example. The farmers are cultivating different varieties of vegetables including bottle gourd, bean, cucumber, brinjals and various leafy vegetables without using any pesticides and chemical fertilisers. A total of 80 floating beds have been set up so far for farming vegetables in the area. Due to low production cost gradually more farmers are getting interested in this method. They are optimistic about expanding such method of vegetable farming on floating garden in more areas under the upazila within next year.
The art of managing corporate reputation
In today’s world, corporate reputation management is one of the key business drivers for any organisation. No wonder managing reputation is taking the centre stage as one of the important strategic issues for the businesses. A study conducted in 2011 by US-based renowned research firm Ethics Resource Centre clearly shows that corporate reputation has a huge influence on consumers’ buying decisions, investors’ decisions to buy stocks, and regulators’ consent in issuing operating licences and other permissions. It was also quite evident from the study that in order to attract the best talents, reputation plays a pivotal role. According to Ernst and Young, investors believe that corporate reputation constitutes 30-50 percent of an organisation’s market value. It is essential for the management and senior leaders of the organisations to be always alert and on their toes. Bad word-of-mouth, a lack of response to a crisis, and a lack of transparency can rapidly decimate the reputation of a company.
Local and Global Stock Indices *
|Index Name||Close Value||Value Change||Percentage Change|
|DSEX|| 5,435.01343 || ↓ 1.13799|| ↓0.02%|
World Commodities *
|Commodity||Close Value||Value Change||Percentage Change|
|Crude Oil (WTI)||$ 71.34||↑0.37||↑0.52%|
|Crude Oil (Brent)||$ 88.43||↑0.17||↑0.21%|
|Gold Spot||$ 1,217.05||↓7.04||↓0.58%|
Major Currencies Exchange Rates Movement in Last Seven Days *
|USD 1||BDT 83.7500|
|GBP 1||BDT 110.1564|
|EUR 1||BDT 96.8150|
|INR 1||BDT 1.1384|
*CURRENCIES AND COMMODITIES ARE TAKEN FROM BLOOMBERG.