Business
Bank Job Circular 2023: BRAC Bank Recruitment Circular
BRAC Bank Limited has recently published recruitment circular. The organization will hire Associate Relationship Manager, Corporate Banking
Interested candidates can apply online.
Post Name: Associate Relationship Manager, Corporate Banking
Number of Posts: Not Determined.
Employment Status: Full-time
Educational Requirements
Graduation from any UGC-approved university with a satisfactory academic track record, preferably in business administration;
Experience Requirements
At least 2 year(s)
Additional Requirements
· Minimum 2 years of work experience in relationship management in the Corporate Banking Division of a bank;
· Proficient in knowledge of banking fundamentals, credit analysis, products, and processes;
· Proficient in relationship management and business communication;
· Extrovert personality with good communication and interpersonal skills;
· Be self-propelled, customer-centric, team player and capable of meeting deadlines.
Application Deadline: 25 Jan 2023
Job Location: Anywhere in Bangladesh
Job Source
Source: Bdjobs.com Online Job Posting.
Bank Job Circular 2023: Eastern Bank Recruitment Circular
Eastern Bank Limited has recently published recruitment circular. The organization will hire manpower in their relationship department.
Interested candidates can apply online.
Post Name: Trainee Relationship Officer.
Number of Posts: Not Determined.
Application Qualification: At least Graduation Pass. Fresher’s can apply for the post. However, six months of experience will be preferred.
Must be fluent in Bengali and English. Should be proficient in computer operation. Must be proficient in MS Office.
After final recruitment should have interest to work anywhere in Bangladesh.
Monthly Salary: Salary is Rs.28,000. Along with other benefits will be provided as per the policy of the organization.
How to Apply: Interested candidates should apply online. Click here to apply (https://jobs.bdjobs.com/jobdetails.asp?id=1116227&fcatId=2&ln=1 ).
Application Last Date: 25th January, 2023
China’s economic growth falls to second-lowest level in four decades
China’s economic growth fell to its second-lowest level in at least four decades last year under pressure from anti-virus controls and a real estate slump, but activity is reviving after restrictions that kept millions of people at home and sparked protests were lifted.
The world's No. 2 economy grew by 3% in 2022, less than half of the previous year's 8.1% rate, official data showed Tuesday. That was the second-lowest annual rate since at least the 1970s after 2020, when growth fell to 2.4% at the start of the coronavirus pandemic.
China’s slump has hurt its trading partners by reducing demand for oil, food, consumer goods and other imports. A rebound would be a boost to global suppliers who face a growing risk of recession in Western economies.
Economic growth sank to 2.9% over a year earlier in the three months ending in December from the previous quarter’s 3.9%, the National Bureau of Statistics reported.
Read more: China economy recovering but hampered by virus outbreaks
Consumer spending started to recover but still was weak in December after the ruling Communist Party abruptly ended its “zero-COVID” controls.
China’s economic growth is in long-term decline after hitting a peak of 14.2% in 2007, hampered by hurdles including an aging, shrinking workforce and growing curbs on Chinese access to Western technology due to security concerns.
China’s population of working age people 16 to 59 has fallen by about 5% from its 2011 peak to 876.6 million last year, based on official data released Tuesday. The working-age group as a share of the population of 1.4 billion fell to 62% from 70% a decade ago.
The International Monetary Fund and private sector forecasters expect economic growth no higher than about 4% through the rest of the decade.
In December, retail sales fell 1.8% from a year earlier, but that was an improvement over the previous month's 5.9% contraction. Wary consumers are returning only gradually to shopping malls and restaurants amid a surge in COVID-19 infections that has flooded hospitals with patients.
Investment in factories, real estate and other fixed assets in December rebounded to 0.5% growth over the previous month following November's 0.5% contraction.
“The good news is that there are now signs of stabilization,” said Louise Loo of Oxford Economics in a report.
Read more: China's trade surplus swells to $877.6B as exports grow
Growth is forecast to improve this year to a still-modest level of about 5%. Economists point to weakness in real estate, an important economic engine, and slowing exports.
Factory output in 2022 rose 3.6% over the previous year, suggesting activity tumbled after hitting 4.8% in the third quarter of the year as U.S. and European demand for Chinese goods weakened under pressure from interest rate hikes to cool record-setting inflation.
The surprise end of some of the world's most pervasive anti-virus controls followed a promise by the Communist Party in November to reduce the cost and disruptions of “zero COVID.”
That policy aimed to isolate every sick person. It helped keep China's infection numbers below those of most other countries. But it shut down Shanghai and other cities for up to two months in early 2020 to fight outbreaks, disrupting manufacturing and trade. Growth tumbled to a low point of 0.4% over a year earlier in April-June before rebounding to 3.9% in the following quarter.
A new infection wave that began in October prompted authorities to reimpose restrictions that closed factories and required millions of people to stay home. Public frustration boiled over into protests in Shanghai and other cities. Some protesters in Shanghai called for Chinese leader Xi Jinping to resign.
The ruling party has dropped quarantine, testing and other restrictions and eased controls that blocked most travel into and out of China. It has yet to say when large-scale tourism into the country will resume.
Even after those controls were relaxed, some factories and restaurants were forced to close for weeks at a time in December due to lack of employees who weren't infected.
To shore up the economy, the ruling party has backtracked on key financial and industrial policies, winding down anti-monopoly and data crackdowns aimed at tightening control over China’s tech industries. That campaign wiped hundreds of billions of dollars off the share prices of e-commerce giant Alibaba and other tech companies on foreign stock exchanges.
The government also is loosening controls on real estate financing after tighter controls on debt that Chinese leaders worry is dangerously high caused economic growth to slide starting in 2021.
On Saturday, the Cabinet promised tax cuts, bank loans and other support for entrepreneurs to “promote stable growth.”
“Reopening should result in a burst of growth over the coming year,” said Goldman Sachs economist Andrew Tilton in a report Friday. Goldman raised its outlook on this year’s expansion to 5.2% from 4.5%.
Others are more cautious. The World Bank this month cuts it 2023 growth outlook for China to 4.3% from a forecast in June of 5.2%. It cited uncertainty about COVID-19 and the weak real estate industry.
The debt crackdown forced smaller developers out of business in an industry that accounts for up to 25% of China’s economic activity. Some bigger competitors missed bond repayments. Sales plunged while jittery buyers waited for the status of developers to become clear.
Financial markets are waiting to see what happens to Evergrande Group, the global industry’s most indebted company, which is trying to restructure more than $300 billion owed to banks and bondholders.
Calls for promoting light engineering sector with targeted action plans
Secretary to Industries Ministry Zakia Sultana has called for promoting the light engineering sector with targeted action plans.
She made the call at the 8th meeting of the SME Development Working Committee organised by Business Initiative Leading Development (BUILD) in the capital on Monday.
Ferdaus Ara Begum, CEO of BUILD, presented an analysis ‘Light Engineering Industry Development Policy 2022” at the meeting where Chattogram Chamber of Commerce and Industry President Mahbub Alam also attended.
Secretary Zakia said, “We would extensively support the light engineering sector while exploring ways to set up a separate industrial park in BSCIC for the sector and giving special incentives to the sector that shares the domestic market worth $12 billion”.
Addressing the need for promoting grassroots entrepreneurs of the sector and getting them on board, she said they would set out specific priorities in line with the Light Engineering Policy, which can be achieved at the earliest.
Echoing the policy's objectives put up in the BUILD keynote and focusing on 4IR and ICT, the secretary informed that the ministry concerned has already been working to promote the sector following the agenda of SMART Bangladesh as per the vision of the premier.
“While we have policies in place, without aligned action plans, we go nowhere. So, we will be setting out targeted actions that truly facilitate small entrepreneurs and hugely contribute to the employment generation and eventually export, and greening the sector is our top priority,” she said.
Read more: PM Hasina announces ‘Light Engineering’ as product of the year
CEO Ferdaus said, “Only five countries namely China, USA, India, Singapore and Japan import about $ 2.51 trillion, and Bangladesh enjoys market access in all these destinations, and if we export at least 1percent to these places, we can export about $ 25 billion from the sector”.
She urged the ministry to consider a dedicated industrial park and industrial cluster, an e-commerce platform for LE entrepreneurs, re-skilling and up-skilling to form a technologically skilled workforce, enforcement of AI, rationalisation of raw material import duty and encourage TT export, strategy to attract domestic and foreign investment to organise the sector.
The CEO recommended setting a year-wise GDP and export target along with a well-defined action plan to implement development strategies for this sector while appreciating the ministry for inclusion of the logistics sector as the high-priority sector and 4IR and ICT in the recent Industrial Policy formulated by MOI.
Referring to different policies where the importance of LE has been highlighted, she informed about the LE Road Map prepared by BUILD for MoC, where the export projection for the sector in 2030 is $ 12.56 billion, with specific action plans that need supportive financing for implementation.
Dr Md Mafizur Rahman, managing director of SME Foundation, Mohammad Monjurul Islam, additional director of Bangladesh Bank, Dr Nadia Binte Amin, president of WEND, Manzur Ahmed, adviser of FBCCI and Abdul Amin, director of Bangladesh Engineering Industry Owners Association (BEIOA among others spoke at the meeting.
Read more: Light engineering products to boost Bangladesh export basket
GP Star customers to get several benefits at Mitsubishi showroom, Rangs workshop
Grameenphone has signed a memorandum of understanding (MoU) with Rangs and Rangs Workshop to offer a wide range of benefits at the Mitsubishi Motor showroom and Rangs workshop to GP Star Customers.
An agreement signing ceremony was held in the capital Saturday.
As per the agreement, Platinum Plus and Platinum GPStar customers will enjoy a special price while buying Mitsubishi brand new cars from Mitsubishi showroom. Also, they can avail of a 15 percent discount on all after-sales service facilities at Rangs workshop and 5 perent on genuine Mitsubishi spare parts.
Read more: GP gets permission to sell 78,000 more SIMs
Mohammad Sajjad Hasib, chief marketing officer of Grameenphone, said: "This partnership is about co-creating with Mitsubishi to uplift the experience of the customers who have loved us over the last 25 years, making us who we are today and we are happy to have Mitsubishi on board with us."
Mohammod Hamdur Rahman Simon, CEO of Rangs and Rangs Workshop, said: "Mitsubishi Motors Bangladesh is leading the way in Bangladesh's brand-new car segment. As a Japanese brand, customers are always at the forefront of our business, and we are continuously trying to provide the best value to them."
Read more: GP brings Asia Cup cricket matches live on MyGP
"As a part of that continuous effort, we are excited to collaborate with Grameenphone to offer exclusive discounts on our cars and after-sales services."
Nigerian delegation discusses Dhaka-Abuja trade potential with BGMEA
A delegation comprising high officials of different ministries of the Nigerian government paid a visit to Bangladesh Garment Manufacturers and Exporters Association (BGMEA) President Faruque Hassan in Dhaka Monday (January 16, 2023).
The delegation included Abubakar Aliyu Aziz, director general of the National Identity Management Commission, MaskaUbale Ahmed Shehi, executive commissioner of the Communications Commission, Alhassan Haru, director of Communications Commission, and Roberts Moses Achanya, president of the Nigeria-Bangladesh Trade and Technology Forum.
BGMEA Director Barrister Vidiya Amrit Khan, Bangladesh Knitwear Manufacturers and Exporters Association Vice-President Fazlee Shamim Ehsan and Fakir Fashion Managing Director Fakir Kamruzzaman Nahid were also present.
Read more: Bangladesh, Nigeria to explore possibility of signing framework agreement on FTA or PTA
They had discussions about possible areas of collaboration between Bangladesh and Nigeria for bilateral trade benefits, particularly in the apparel and textile industry.
Faruque said there is potential to import more cotton from Nigeria which is a cotton-producing nation. "Nigeria is also a potential market for Bangladesh's apparel export."
He called upon the Nigerian government to reduce import duty on readymade garments (RMG) from Bangladesh and requested cooperation from the delegation in this regard.
Read More: Bangladesh, Nigeria to explore possibility of signing framework agreement on FTA or PTA
German engineering delegation visits Pran-RFL Industrial Park
A 22-member delegation of the German Engineering Federation (VDMA) and Deputy Head of Mission of the German mission in Dhaka Jan-Rolf Janowski visited the Pran-RFL Industrial Park in Narsingdi's Palash Sunday.
The delegation also included Rajesh Nath, managing director at VDMA India. Kamruzzaman Kamal, director (marketing) at Pran-RFL, informed it about different aspects of the production process.
Earlier, a meeting was held at the factory's conference room on business potential, including the use of technology, between the two sides.
Read: Pran joins DITF 2023 with 800 products
Jan-Rolf Janowski said: "The steps taken by the group for manufacturing products using modern technologies are praiseworthy. The German engineering sector is working relentlessly to develop new machinery to make the production process easier."
Kamruzzaman said, "We are using the latest manufacturing machine in our factories. The information from the VDMA members about new technologies will help us."
Diesel import from India via pipeline from June: Nasrul Hamid
State Minister for Power Nasrul Hamid on Monday said that diesel import from India would start through a recently built pipeline on an experimental basis from June.
The minister said this in Parliament while replying to a question from Awami League MP Abdul Latif (Chattogram-11).
With Speaker Shirin Sharmin Chaudhury in the chair, the question-answer session of the day’s sitting was tabled in the House.
In a scripted answer, Nasrul Hamid said that about 131.5 km India-Bangladesh Friendship Pipeline (IBFPL) has been constructed for importing diesel from India.
Of the 131.5 km pipeline, 126.5 km is in the Bangladesh part and 5 km in the Indian part, the state minister said.
Nasrul Hamid also said pre-commissioning of diesel imports through this pipeline is underway.
“It is expected that the commissioning of diesel import, meaning that experimental diesel import through the pipeline will start in June, this year,” Nasrul said.
In response to another question from AL lawmaker Ali Azam (Bhola-2), Industries Minister Nurul Majid Mahmud Humayun said there are currently 15 sugar mills in the country. Among them, only one is profitable and the remaining 14 are non-profit.
Read more: Bangladesh may prefer to import Russian oil via third country
In reply to a query from AL MP Mohammad Habib Hasan (Dhaka-18), Nasrul Hamid said it is not possible to resume providing residential gas connections unless the gas supply increases sufficiently and the growing demand for gas in industry, power and fertilizer plants is not reduced.
In the context of gradual decline in domestic gas production, giving priority to industry, electricity and fertilizer factories in terms of gas connection is considered essential for the sake of economic mobility, he said.
Moreover, due to the rapid increase in the availability and use of LPG at the private level, the provision of new gas connections at the household level has been stopped through circulars.
In response to a question from AL lawmaker Nurunnabi Chowdhury (Bhola-3), Nasrul Hamid said currently (June 2022) the amount of gas reserves in the country is 9.06 trillion cubic feet. With this reserve gas, it will be possible to meet the needs of the country for about 11 years.
Read more: Fuel import from India through pipeline to start from 2023: PM
In reply to a query from AL lawmaker Didarul Alam (Chattogram-4), Information and Broadcasting Minister Hasan Mahmud said that now there are 346 online portals including 162 registered online news portals, 169 registered online portals of dailies and 15 online portals of TV channels.
Economic woes, war, climate change on tap for Davos meeting
The World Economic Forum is back with its first winter meetup since 2020 in the Swiss Alpine town of Davos, where leaders are seeking to bridge political divisions in a polarized world, buttress a hobbling economy and address concerns about a climate change — among many other things.
Sessions will take up issues as diverse as the future of fertilizers, the role of sports in society, the state of the COVID-19 pandemic and much more. Nearly 600 CEOs and more than 50 heads of state or government are expected, but it's never clear how much concrete action emerges from the elite event.
Here’s what to watch as the four-day talkfest and related deal-making get underway in earnest Tuesday:
WHO’S COMING?
Back in the snows for the first time since the pandemic and just eight months after a springtime 2022 session, the event will host notables like European Union Commission President Ursula von der Leyen, U.S. climate envoy John Kerry, and the new presidents of South Korea, Colombia and the Philippines.
Chinese Vice Premier Liu He addresses the gathering Tuesday, a day before his first meeting with his U.S. counterpart, Treasury Secretary Janet Yellen, in Zurich. Yellen will skip Davos.
Who else is missing? U.S. President Joe Biden, Chinese President Xi Jinping, British Prime Minister Rishi Sunak, Indian Prime Minister Narendra Modi and French President Emmanuel Macron.
Russian President Vladimir Putin, of course: Envoys from his country has been shunned because of his war in Ukraine.
Ukrainian first lady Olena Zelenska was on her way to Davos and will speak Tuesday, while her husband, President Volodymyr Zelenskyy, will give a remote address Wednesday and other officials from Ukraine are appearing on panels.
Read more: Business trusted most in a more polarized world, report says
Outside the main convention center, a themed venue known as Ukraine House is hosting a concert, photo exhibits, seminars, cocktail events and other meetings this week to drum up support for Ukraine’s efforts to drive out Russian forces.
ECONOMIC FOCUS
The slowdown in the global economy will be a major theme at Davos, with officials ranging from International Monetary Fund Managing Director Kristalina Georgieva and European Central Bank President Christine Lagarde speaking in sessions.
Inflation soared as the world reopened from the pandemic and Russia invaded Ukraine, driving up food and energy prices, and though it has started to slow in major economies like the U.S. and those in Europe, inflation is still painfully high.
Georgieva said in an IMF blog post Monday that divides between nations — the theme at Davos this year is “Cooperation in a Fragmented World” — are putting the global economy at risk by leaving “everyone poorer and less secure.”
Georgieva urged strengthening trade, helping vulnerable countries deal with debt and ramping up climate action.
PRIORITIZING CLIMATE
A major climate theme emerging from the forum’s panel sessions is the energy transition from fossil fuels to clean energy. Former U.S. Vice President Al Gore will be talking about decarbonization, efforts to build clean energy infrastructure and ensure an equitable transition.
It follows a strong year for the energy transition: Many countries passed incentives for renewable energy in 2022.
One hot topic on the agenda — harnessing nuclear fusion — focuses on science that offers immense potential but is many decades away from a commercial rollout that could feed the world’s skyrocketing thirst for energy.
Sessions on issues like adaptation to climate change and panels on deforestation, biodiversity and the future of environmental protection will give a greener hue to the gathering.
CRITICAL VOICES
The elite gathering is regularly skewered by critics who argue that attendees are too out-of-touch or profit- or power-minded to address the needs of common people and the planet.
Throughout the week, critics and activists will be waiting outside the Davos conference center to try to hold decision-makers and business leaders to account.
Read more: Robust leadership, political trust fortified Dhaka-Ankara economic, defence ties: Turan
It started Sunday, when dozens of climate activists — some with clown makeup — braved snowfall to wave banners and chant slogans at the end of the Davos Promenade, a thoroughfare now lined with storefront logos of corporate titans like Accenture, Microsoft, Salesforce, Meta, as well as country “houses” that promote national interests.
Greenpeace International also blasted use of corporate jets that ferry in bigwigs, saying such carbon-spewing transportation smacks of hypocrisy for an event touting its push for a greener world. It said over 1,000 private-jet flights arrived and departed airports serving Davos in May.
Forum President Borge Brende acknowledged Sunday that some government leaders and CEOs fly in that way.
"I think what is more important than that is to make sure we have agreements on how we, overall, move and push the envelope when it comes to the green agenda,” he said.
Air passengers on Sylhet-Dhaka route facing severe ticket crisis
Air passengers on Sylhet-Dhaka route have been experiencing a severe shortage of tickets due to suspension of operation of the Boeing aircraft for over a month.
The price of the tickets has also shot up.
The concerned authority said there has been a crisis of tickets and price of tickets is a bit more than the previous time as the flights of international routes are not carrying the domestic passengers.
Website of US-Bangla Airlines showed that the fare for a single passenger on the Sylhet-Dhaka route was Tk 6,400, Tk 4,900 andTk 3,765 on January 14, 15 and 16 respectively.
On the other hand, the fare for Biman Bangladesh was Tk 3,833, 3,950 and 3,556 respectively during the same period.
Ticket aspirants alleged that they have to buy an air ticket for Tk 5,000 to 6000 instead of Tk 3,000.
Muhammad Muntasir Ali, director of Sylhet Metropolitan Chamber and a housing businessman, urged the authorities concerned to take initiative to address the problem immediately.
Mansur Ahmed Bhuiyan, manager of Biman Bangladesh Airlines in Sylhet, said the international flights landing at Osmani International Airport used to carry domestic passengers earlier but it remained suspended since December 1 last year.
“As a result the ticket crisis was created and price of the tickets also went up,” he said, adding that the crisis will be resolved once the Boeing aircraft is added to the route as earlier.
Currently Biman Bangladesh airlines, US-Bangla and Novoair have been carrying the passengers on the route with their 10-12 flights regularly but the demand for the tickets by the passengers can’t be met with those.