Business
Nagad holds workshop to promote breast cancer awareness
Mobile financial services provider (MFS) Nagad recently arranged a workshop to raise awareness of breast cancer among all its employees and their families.
More than 100 employees and their family members attended the workshop online. Later, those at Nagad's headquarters in Banani underwent a health check-up.
Provident Health acted as a programme partner of Nagad to provide them with information about the prevention, screening tests for early detection, and treatment of breast cancer.
Doctors at the workshop said breast cancer is the leading cancer for women in Bangladesh.
According to the World Health Organisation, one in every eight women in the world is at risk of developing breast cancer in the course of their life. About 20,000 women are diagnosed with this cancer every year.
Read: Nagad upgrades system to offer better services
However, 50 percent of them have every chance of cure if diagnosed early and treated appropriately, said physicians at Nagad's workshop.
Shaharear Sayeed, director of human resource and administration at Nagad said, "Dedicated in-house doctors come to our office every week to conduct health tests of our employees and make them aware of various diseases."
"They also regularly conduct workshops on breast cancer to make everyone aware of it."
Binimoy: Interoperable Digital Transaction Platform could open a new horizon in money transfer
One of the groundbreaking steps taken by the government to contribute towards Digital Bangladesh is the Interoperable Digital Transaction Platform (IDTP) called "Binimoy", enabling the instant transfer of money from one platform to another and vice versa within banks, mobile financial services (MFS) operators, and payment service providers (PSPs).
Besides transparency, Binimoy will also ensure seamless, secure, and cashless transactions within the payment system, while reducing transaction costs, according to a press release.
Read more: How to Buy Stocks: 10 Key Factors to Check
The government has taken initiatives in recent years to make all accounts of banks, MFS operators, and PSPs interoperable. Binimoy will act as a bridge for transactions between consumers, merchants, PSPs, e-wallets, banks, financial institutions, government, and private institutions. It will make all types of financial transactions cost-effective, simple, and transparent, such as the disbursement of employees’ salaries, sending remittances, payment of taxes/VAT, payment of utility bills, and e-commerce related transactions.
The Central Bank has already started a pilot project to implement IDTP where twelve banks, two PSPs, and three MFS operators are currently participating. The financial institutions have integrated the Binimoy platform into their mobile banking and digital payment platforms.
Read more: Digital infrastructure key to attracting more remittance through legal channels, speakers say
Currently, users will be able to complete registration using the mobile apps of respective banks, MFS operators, and PSPs. This system is highly secure as two-factor authentication is required for each transaction. Users are requested to get in touch with the relevant banks, MFS operators, and PSPs, if they encounter any problems related to registration or transactions.
The Binimoy platform will be officially launched On November 13, 2022. Prior to the platform's formal debut, a testing version has been released to the public to fix and address the problems that users and participating financial institutions are reporting in order to take preventive measures. The platform is still in its early stages and the registered financial institutions are working diligently as per the instructions from the central bank and the ICT Ministry. Binimoy will take the lead as a national payment gateway, ensuring users hassle-free, cost-effective, and secure transactions.
How to Buy Stocks: 10 Key Factors to Check
When it comes to investing, people usually look for effective strategies to make money. Some investors choose real estate, and mutual funds and others prefer stocks or bonds. Stocks can be a great choice for both short-term and long-term investments. Investing in stocks not only gives you the scope to make money but also makes you the owner of a part of a company. There are a few things to consider when selecting stocks for any company.
10 Essential Criteria to Consider for Selecting Stocks
For non-technical common investors, understanding stock market fluctuations is difficult. If you want to buy a stock, you must keep in mind some factors. Here are 10 factors you need to know, according to experts.
Company Background Analisis
Buying shares in a company means buying partial ownership of that company. So proper review of the qualitative aspects of that company is very important. You will need to check whether the company’s products or services are popular with its customers. Besides, don’t forget to check who is managing the company.
Read More: Shares vs Bonds: What is the Ideal Investment Opportunity
You can do a Google search or ask people you know about how the company’s managers are—whether they are trustworthy as your partner or not. Also, look for what is the competence, integrity, and innovation of the company’s managing director and other senior officers—their qualifications, training, business success, and more.
Price-to-Earnings (P/E) Ratio
The price-earnings ratio is a measure of how many times a company’s shares are selling for its earnings. If the earnings per share of a company are Tk5, and the market price of the share is Tk45, then the price-earnings ratio will be 9. This means that if the company distributes all of its earnings as dividends, it will take 9 years to recover the invested money.
But if the market price of the share was Tk 100, then the price-earnings ratio or PE ratio would be 20. That is, if the company’s income stream remains unchanged, it will take 20 years to return the investment. The market average P/E ratio is 20-30. The lower the PE ratio, the lower the risk of the investment.
Read More: Share Market Investment Guide: How to Invest in Stocks
Net Asset Value Per Share
Before buying a company’s share, check asset value per share. There should be an adjustment of the market price with this. However, unless the company goes into liquidation, the investor does not really care about the asset value.
Only shareholders can get a portion of those assets when the company is bankrupt. In this case, the bank loan and other dues are paid off before the sale price of the asset. After that, anything left over is distributed among the shareholders.
Earnings Per Share
Check the Earnings Per Share (EPS). However, it depends on the company. The more it is, the better. Higher EPS means higher dividend potential. If the EPS is low, the dividend potential is also low.
Read More: Saving vs. Investing Money: Know the Pros and Cons.
Capital Utilization Efficiency of The Company
A company that can invest more of its capital in more profitable projects is expected to benefit its shareholders. On the other hand, if a company invests a lot of capital in a less profitable project, its profits and share price have less possibility to improve.
For example, banks that have invested more capital in mobile banking or digital banking projects over the last 10 years have done much better in terms of profits and share prices than banks that have invested in stock brokerage projects.
Balance Sheet
Generally, companies whose financial debt is much higher than their total assets (over 60-70%) have a higher risk of losing their shareholders’ capital. So, one should be careful while investing in such companies.
Read More: Is Sanchayapatra a Good Investment in 2022?
Total Number of Shares
Before you buy stocks of any company, check their total number of shares and see how much it floats. According to the demand-supply formula, if the number of shares is low, its price is more likely to increase. On the other hand, if the number of shares is more, it is more readily available in the market.
In addition to that, it is better to buy shares that are traded regularly. Because if you need money on an urgent basis for any reason, it is possible to collect money easily by selling shares. But if you invest in shares that are not traded regularly, it is not possible to withdraw the investment on an emergency basis.
The Ratio of Authorized Capital to Paid-Up Capital
Issuance of bonuses and right shares is quite difficult if these two capital amounts are close. In this case, the company should increase the authorized capital earlier. Investors with a particular inclination towards bonus dividends should take note of these factors. A rule of thumb is that paid-up capital can never exceed authorized capital.
Read More: Plot vs Apartment: Which is the Better Investment Option?
Dividend Yield
The market value of the shares may be higher than the face value in most cases. Hence the dividend rate does not indicate the actual return. The dividend yield is the exact return of shares, which is the percentage of dividends received on the investment based on market value.
The dividend yield ratio is obtained by multiplying the declared dividend by 100 and dividing it by the market price of the respective shares. The higher the yield, the higher the investor’s earnings.
Track Record
Check the company’s last 3-4 years' track record. See how much it pays in dividends. Also, check the annual average price and try to buy shares close to this price.
Read More: Is Gold a Good Investment in 2022?
Final Words
So far, we have shared what to consider before buying stocks or shares. When buying a stock, remember profit must be ensured at the time of buying, not at the time of selling. That is, if you can buy shares at a good price, there will be a good chance of good profit. If you buy a share at a high price, the profit potential will decrease a little. Additionally, it should be remembered that hasty decision decisions are not good in the share market.
Digital infrastructure key to attracting more remittance through legal channels, speakers say
Speakers said on Wednesday that developing convenient digital infrastructure is very vital to attract more remittance through legal channels for sustainable foreign exchange reserves.
They made the statement in a discussion on ‘Remittance through the legal channel: Prospects of digital platforms’ organised by the Economic Reporters’ Forum (ERF) at its auditorium in the capital on Wednesday.
Planning Minister MA Mannan was the chief guest on the occasion. Economists, bankers and experts made various recommendations for a better strategy to attract more remittance amid concern over dwindling stock of foreign currency.
Read more: Banks to stop charging any fees for handling remittances
Mannan said that the people in the country do not show much interest to go to banks for transactions when they receive remittance from their family members working abroad because of social and psychological factors.
Rather, they choose illegal channels to receive remittance as a quick and comfortable remedy.
He said that the government has taken initiatives for developing digital infrastructure to bridge the gap between the earners and the receivers, but it often gets protracted to reform the sector.
He also said that transactions with foreign countries are closed three days a week on the banking channels. Because of this, many people are choosing hundi as a convenient alternative, he said.
Read more: Falling exports-remittances: Double blow to Bangladesh economy
“The government wants to break these traditions and start a trend. The Ministry of Finance and the Bangladesh Bank are working on this,” he said.
Policy Research Institute (PRI) Executive Director Ahsan H. Mansur said the exchange rate of the dollar needs to be stable and balanced to increase remittances through legal channels.
“Migrant workers are more inclined to send remittances through hundi when the difference of dollar exchange rate higher in illegal channels than the legitimate way,” he said.
Managing Director of Islami Bank Bangladesh Limited Mohammed Monirul Moula said if the problem in sending money to the relatives of expatriates in the country is removed, it will be easier to deal with the existing foreign exchange and reserves crisis.
“If remittances can be sent through digital mode, it will be possible to meet the foreign exchange deficit in the next two to three months,” he said.
Read more: Remittances fall again in Oct, this time to 8-month low
Professor of the economics department of Dhaka University and chairman of SANEM Dr. Bazlul H Khandkar presented a keynote paper on the topic.
Chairman Policy Exchange of Bangladesh Masrur Riaz, Sharmin Nilormi, professor of economics, Jahangirnagar University, former executive director of Bangladesh Bank and former deputy head of BFIU Iskandar Mia, BKash Chief External and Corporate Affairs Officer Major General (retd) Sheikh Md. Monirul Islam, and economist Khondker Shakhawat Ali, among others, spoke at the function.
$4.5bn IMF loan: 1st instalment expected next Feb, says Mustafa Kamal
Finance Minister AHM Mustafa Kamal on Wednesday confirmed Bangladesh will get $4.5 billion from the International Monetary Fund amid hope that the lending agency will release the first installment of the much-needed loan by next February.
He said this in a briefing after meeting with the IMF delegation held at the ministry’s conference room at the Secretariat on Wednesday.
Separately, the IMF said it has reached staff-level agreement with Bangladesh government on the loan. The agreement came following two weeks of negotiations with a visiting IMF team and Bangladesh officials ending on Wednesday.
Read more: $4.5 billion loan: IMF reaches preliminary agreement with Bangladesh
“The amount of loan is $4.5 billion,” confirmed Kamal. “The loan will be available in seven installments until 2026.”
“I hope that the IMF will be able to release the first installment of SDR352.35 million by next February. The remaining loan will be available in six equal installments of SDR 519 million every six months until December 2026 under Special Drawing Rights (SDRs),” he added.
SDRs are allocated based on the quota amounts of each IMF member country. The higher the quota amount, the larger the SDR allocation a country will receive. In general, stronger economies have higher quotas.
The finance minister said that the IMF mission has informed this according to their action plan. All the formalities and final board approval of the loan proposal will be completed within the next three months.
Read more: Bangladesh will take IMF loan, but not under hard conditions, says Obaidul Quader
Under the extended credit facility (ECF) Bangladesh will get interest-free SDR822.82 million. Under the extended fund facility (EFF) the country will get SDR1645.64 million at a floating SDRi+1 percent interest rate while under the resilience and sustainability facility SDR1 billion will come at a floating SDRi+ 0.75 interest rate, according to the official documents of the finance ministry.
Kamal said that the economy of the whole world is going through a transitional period. Abnormal inflation has occurred in all developed and developing countries. Almost all countries' currencies depreciated against the dollar.
In reply to a question, he said the foreign exchange reserves have decreased as the global economic crisis has affected Bangladesh’s economy to some extent.
“We requested the IMF for the loan as a pre-emptive measure to ensure that this instability does not escalate into a crisis. They have met several times before. We have successfully completed the ongoing loan negotiation,” the minister added.
Read more: IMF for capacity building of capital market in Bangladesh
The visiting IMF team held discussions with all stakeholders of the Bangladesh government, especially those involved with the financial sector.
“They (IMF) told us that our macroeconomic management is better than many other countries. The IMF team agrees to our ongoing economic reforms. Accordingly, we are going to take a four-year loan programme,” Kamal said.
The Washington-based global lender’s delegation arrived in Bangladesh on October 26 to discuss the loan request and make a first-hand assessment of the economic situation after Dhaka sought the loan in July this year.
This is Bangladesh’s highest amount of loan sought from the IMF as the economy has been hit by the Covid-19 pandemic and the Russia-Ukraine war leading to a fall in the foreign exchange reserves.
During the visit the IMF team held a series of meetings with the finance ministry, Bangladesh Bank, Bangladesh Bureau of Statistics, Power Division, Bangladesh Energy Regulatory Commission, Bangladesh Garment Manufacturers and Exporters Association (BGMEA), ERD, NBR, BIDA, and other financial organizations.
$4.5 billion loan: IMF reaches preliminary agreement with Bangladesh
The IMF delegation and Bangladesh authorities have reached a preliminary agreement, subject to IMF board approval, to support the country’s economic policies with about USD 3.2 billion under extended credit facility and extended fund facility as well as USD 1.3 billion under resilience and sustainability facility.
The objectives of Bangladesh’s new fund-supported programme are to preserve macroeconomic stability and support strong, inclusive, and green growth, while protecting the vulnerable, said an IMF press release.
The resilience and sustainability facility (RSF) is expected to provide affordable, long-term financing to support Bangladesh’s climate investment needs, catalyse climate financing, and reduce balance of payment pressures from import-intensive climate investment.
Read more: IMF for capacity building of capital market in Bangladesh
At the request of the Government of Bangladesh, an International Monetary Fund (IMF) mission led by Rahul Anand visited Dhaka from October 26 to November 9, 2022, to discuss IMF’s support for Bangladesh and the authorities’ comprehensive economic reform agenda.
At the end of the mission, Rahul Anand issued the following statement:
“The Bangladesh authorities and the IMF team have reached a staff-level agreement to support the authorities’ reform policies under a new 42-month ECF/EFF arrangement of about US$ 3.2 billion (SDR 2.5 billion, equivalent of 231.4 percent of quota), and a concurrent RSF arrangement of about US$1.3 billion (SDR 1 billion, equivalent of 93.8 percent of quota).
Read more: Bangladesh will take IMF loan, but not under hard conditions, says Obaidul Quader
“The new ECF/EFF arrangement is aimed at restoring macroeconomic stability and preventing disruptive adjustments to protect the vulnerable, while promoting structural change to support strong inclusive and green growth. Reflecting Bangladesh’s large climate financing needs, the concurrent RSF, which supplements the resources made available under the ECF/EFF, will expand the fiscal space to finance climate priorities identified in the authorities’ plans, including by catalysing other financing, and reducing external pressures from import-intensive climate investment. The staff-level agreement is subject to IMF management approval and Executive Board endorsement, which is expected in the coming weeks.”
“Bangladesh’s robust economic recovery from the pandemic has been interrupted by Russia’s war in Ukraine, leading to a sharp widening of the current account deficit, rapid decline of foreign exchange reserves, rising inflation and slowing growth,” the statement added.
Read more: IMF’s conditions for loan: TIB watchful about “discriminatory implications”
Bangladeshis studying in China: Central bank allows paying tuition fees
The central bank has allowed banks to assist Bangladeshi students in China to pay their tuition fees.
Bangladesh Bank issued a circular in this regard on Wednesday (November 09, 2022).
Read more: Bangladesh Bank lifts cap to loan coal-based power plants
According to the circular, Bangladeshi students enrolled at educational institutions in China are still studying under online arrangements from Bangladesh due to Covid-19-related travel restrictions imposed by the country.
“These students are now applying for visas for which the due tuition fees need to be paid. So, it has been decided that authorised dealer banks may continue to effect outward remittances on account of these students till September 30, 2022 subject to observance of usual regulatory instructions,” the Bangladesh Bank circular said.
Read more: Study in Japan: Scholarships, Tuitions, Application Process for Bangladeshi Students
‘Social Business Academia Forum’ kicks off at Turin University
Institutions conceptualise and improve the practice of social business and examine the power of ‘3 Zeroes Clubs’ created by young people across the globe, said the Yunus Centre in a press release on Tuesday.
The University of Turin is co-hosting the Social Business Academia Forum (SBAF), with the Yunus Centre.
This Summit is the first in-person gathering of social business activists, entrepreneurs, academicians, researchers and students, since the pandemic started in 2020.
The Global Social Business Summit is always designed as a very intensive two-day event leading to many new social business initiatives.
After arriving in Turin, Professor Yunus was received by the founder of Italian NGO Sermig, Ernesto Olivero, before being taken to meet the staff of Sermig to share the experiences of social businesses with them.
Read more: Esports can help youths imagine a new civilization: Prof Yunus
Sermig was founded in 1964 in Turin by Ernesto Olivero and his wife Maria Cerrato and a few friends to defeat hunger, encourage dialogue, hospitality and peace. They transformed a weapons-producing factory during two world wars into one of Love and Peace.
Sermig has provided shelter and food for over 130,000 homeless people, broken families and women from severe socio-economic conditions. They have served over 30 million meals.
Samsung tops ‘World’s Best Employers 2022’
Samsung has ranked number 1 on Forbes’ ‘World’s Best Employers 2022’ list for the third consecutive year with the commitment to providing the best work culture to its employees.
With major global technology companies regularly at the top of the rankings, Samsung has ranked first for the past three years, maintaining the company’s top-notch reputation in the IT and technology industry.
In cooperation with Statista, Forbes conducted a survey over 150,000 employees across 800 companies globally, including companies from the UK, Germany, the US and many more, before ranking Samsung as first on the list of ‘World’s Best Employers’.
Those who attended in the survey were asked to rate their willingness to recommend their employers to friends and family. Besides, they were also asked to rate the companies on various aspects such as economic impact and image, talent development, gender equality and social responsibility.
Read more: Samsung Bangladesh brings new B Series TVs
Samsung Electronics is having its branch office in Bangladesh, to market quality Consumer Electronics products & Handheld devices.
The organisation claimed it is the no. 1 Mobile Handset Brand in Bangladesh for the last 4 years in a row.
Hwansung Woo, managing director of Samsung Bangladesh Branch, pointed out his vision of working with a purpose- “We are relentless in serving our purpose of delivering the most advanced Mobile Devices & Consumer Electronics items in Bangladesh.
“In addition, we have always been a firm believer in employee satisfaction through meaningful relationships, personalized efforts and advancement opportunities,” he said.
In today’s advanced job sector and purpose-driven work are a great priority, and Samsung takes this very seriously, he said adding that they are hopeful of continuing to create a workspace of great value for our employees.
BGMEA president briefs Moody's team on sector's outlook
Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has briefed Moody’s Investor Service about the future priorities of the RMG industry to enhance its capabilities and competitiveness in the global market in the coming days.
The priorities include increased emphasis on product diversification, innovation, technology upgradation and skill development.
Read more: Germany's TU Dresden to give technical, knowledge support to BGMEA's CIEOSH
A delegation of Moody’s Investor Service met with BGMEA President Faruque Hassan at BGMEA Complex on Tuesday to understand the status quo of the RMG industry in Bangladesh, especially its prospects, current challenges, and way forward.
The Moody’s team included Alka Anbarasu, Associate Managing Director, and Camille Chautard, Analyst.
A representative of Bangladesh Bank was also present at the meeting, according to BGMEA.
They had discussions about different trade-related issues Bangladesh’s RMG industry, including the challenges posed by the present global energy crisis and inflation, impacts on exports and possible ways to deal with the situation.
Read more: BGMEA urges US' Jordache to source more from Bangladesh
BGMEA President Faruque Hassan apprised the Moody’s team of remarkable progress made by Bangladesh’s apparel industry, becoming one of the safest and greenest industries in the world.
Mentioning the proven resilience of the industry, he expressed high optimism would be able to weather the tough time.
The RMG sector is keeping close eyes on the global market situation and would move ahead strategically based on the situation, he added.
Moody’s Investor Service is a leading provider of credit ratings, research, and risk analysis.
Faruque Hassan invited the Moody’s delegation to the Made in Bangladesh Week which will be organised by BGMEA on 12-18 November 2022 to promote Bangladesh and the RMG industry.