Business
Asian stock markets higher after Wall St sinks further
Asian stock markets gained Wednesday after Wall Street sank on weak U.S. housing sales and a profit warning by a prominent social media brand.
Shanghai, Hong Kong and Seoul advanced while Tokyo declined. Oil prices rose more than $1 per barrel to stay above $110.
Wall Street’s benchmark S&P 500 index lost 0.8% after the profit warning Tuesday by Snapchat’s parent company. Spooked investors dumped social media stocks. Construction stocks fell after U.S. home sales plunged in April.
“The overall mood in equity markets remains largely downbeat,” Jun Rong Yeap of IG said in a report.
The Shanghai Composite Index advanced 0.8% to 3,094.88 while the Nikkei 225 in Tokyo shed less than 0.1% to 26,729.70. The Hang Seng in Hong Kong gained 0.5% to 20,216.79.
The Kospi in Seoul rose 0.8% to 2,626.90 and Sydney’s S&P-ASX 200 added 0.7% to 7,177.80.
India’s Sensex opened up less than 0.1% at 54,099.64. New Zealand, Singapore and Jakarta declined while Bangkok advanced.
Also Read: Stock markets continue to fall on the third day Tuesday
Investors are on edge about the impact of interest rate hikes in the United States and other Western economies to cool surging inflation, as well as Russia’s war on Ukraine and a Chinese economic slowdown.
On Wednesday, the Federal Reserve is due to give insight into its decision-making by releasing minutes of its latest policy meeting.
On Wall Street, the S&P 500 on Tuesday fell to 3,941.48. The Dow Jones Industrial Average gained 0.2% to 31,928.62.
The S&P is down 18% from its Jan. 3 high, putting it on the brink of a bear market, or a 20% decline from the previous top.
The Nasdaq composite, dominated by tech stocks, slide 2.3% to 11,264.45 after the social media selloff. Snap plummeted 43.1%, its biggest single-day drop ever. Facebook parent Meta slumped 7.6%. Google’s parent fell 5.1%.
Retailers and companies that rely on direct consumer spending declined. Amazon slid 3.2% and Target fell 2.6%.
The pullback undercut the previous day’s broad rally.
Homebuilders slumped following a government report showing that April sales of newly built homes plunged 26.9% from a year earlier. KB Home fell 2.7%.
Cruise lines and other travel-related companies took heavy losses. Carnival slid 10.3% and Norwegian Cruise Line fell 12%.
In energy markets, benchmark U.S. crude rose $1.35 to $111.12 per barrel in electronic trading on the New York Mercantile Exchange. The contract fell 52 cents on Tuesday to $109.77. Brent crude, the price basis for international oil trading, advanced $1.32 to $112.01 per barrel in London. It rose 14 cents the previous session to $113.56.
The dollar gained to 126.99 yen from Tuesday’s 126.82 yen. The euro rose to $1.0709 from $1.0693.
Bank officials can travel abroad for Hajj, treatment, foreign-funded workshop: BB
Bangladesh Bank (BB) has amended the bank officials'overseas travel restrictions a day after issuing the notification. The central bank's latest guideline in this regard has allowed bank officials’ travel abroad for Hajj-Umrah, treatment and other emergency purposes at his own cost.
Also read: BB depreciates taka by Tk 0.40 against US dollars
The BB instruction stated, "Travel ban was imposed from Bangladesh to abroad through a circular letter dated 22 May 2022, but restrictions were also imposed on travel to personal initiative also. Personal travel from Bangladesh for special needs, essential treatment, on its own funds will be out of the scope of the ban”. The Banking Regulation and Policy Department (BRPD) on Monday (May 23) issued the amendment of the notification and allows travel abroad for Hajj-Umrah, treatment and other special needs. Besides, foreign nationals working in the bank can go to their home country and officials working in the Bangladesh branch of the foreign banks can go to the head office.
Also read: BB moves to encourage greater flow of remittance to boost forex They will also be able to participate in training, meetings, seminars, workshops and study tours funded by foreign organizations. The BB has banned travel abroad for the officials of the central banks, private-state owned banks, financial institutions and leasing companies to curb the spending of forex.
NBR slaps additional duty on 135 luxury items to discourage import
The National Board of Revenue (NBR) has imposed addtional duty on 135 foreign products - from fruits to flowers - to discourage their imports and ease pressure on forex reserves.
The NBR notification stated that 20 per cent regulatory import duty has been slapped on over135 HS-coded products such as foreign fruits, foreign flowers, furniture and cosmetics effective from Monday.
Also read: Income Tax Wing of NBR racing to meet target in last 4 months of fiscal
The much anticipated move is likely to discourage import of the expensive products and ease the pressure on foreign exchange reserves.
The revenue authority said said Bangladesh is doing well in flower and fruit cultivation. The additional import duty will help flower and fruit growers get fair price.
The new regulatory duty applies to the following:
Flower and flower products: Any type of imported flowers, fresh and dried, imported flowers for making ornaments, various types of artificial flowers and tree saplings or tree branches.
Fruits include: Fresh or processed mango, banana, grape, fig, pineapple, avocado, guava, mangosteen or cabbage, lemon, watermelon, plum, apricot, cherry fruit, frozen or processed fruit seed and mixed fruit food.
Imported bamboo for furniture, parts, cane furniture and various imported materials for furniture. Also wooden furniture used in office, kitchen, bedroom, plastic furniture and various metal furniture.
Also read: NBR to speed up this fiscal's VAT collection
Cosmetics products include perfume, beauty and makeup preparation, tooth floss, tooth powder, preservative and after shave cosmetics, hair cosmetics etc.
At present, regulatory duty or RD is applicable on 3,408 products at the import stage. RD is applicable on these products from minimum 3 per cent to maximum 35 percent. This includes high tariffs on items classified as non-essential and luxury items.
3-day kitchen, bath accessories expo to begin June 2 in city
A three-day expo on kitchen and bath equipment and accessories titled “Kitchen and Bath Expo Bangladesh 2022” will begin on June 2 at the International Convention Center Basandhara (ICB).
Some 60 brands from nine countries including the United Kingdom, Italy, Turkey, Japan, United Arab Emirates, Thailand, China and host Bangladesh are participating in the exhibition under the same roof.
Event management company Wem will organise the expo in partnership with REHAB and Interior Designers Association of Bangladesh.
Also read: Bangladesh Jewellery Expo-2022 kicks off Thursday
The organisers of the expo at a press conference at the National Press Club announced the details of the expo on Tuesday.
They informed that State Minister for Public Works Sharif Ahmed will inaugurate the expo at Bashundhara International Convention City.
Wem director Nasimur Rahman said the manufacturers, exporters and suppliers of kitchen and baths accessories will have the opportunity to showcase their products and technology at the fair.
Also read: Expo 2020: FBCCI, Dubai International Chamber to sign MoU
The three-day exhibition will be open to all from 10 am to 6 pm.
The main sponsors of the fair are My Kitchen, Platinum Sponsor Very Android Borch, Bagno Design & Swiss Plus and Go Sponsor AK Ceramics, Nalte, Nadia Ferni Ocher Gun Marble Tiles.
Nasimur Rahman, Sheikh Mohammad Arif, Shawkat Imran Khan spoke at the function.
Read Turkish Embassy marks International Women’s Day with conversation, exhibition & music
Cyber Security Career Guide: How to Become a Cybersecurity Expert?
The future of jobs is automation. As Artificial Intelligence (AI) and Machine Learning (ML) catch on, 47% of the existing jobs will become obsolete in the several coming decades. However, beyond the scopes of automation, there will remain jobs that will require human dexterity. And among those jobs, cybersecurity will be one of the most in-demand and lucrative jobs. Now, what does cybersecurity mean? What specialization does it offer and most importantly, how to become a cybersecurity specialist? Let’s answer these in detail.
What is Cybersecurity? What Does a Cybersecurity Specialist Do?
Growing up, we have all heard about “hacking”. The way hackers write some complex codes and the computer or digital devices becomes compromised. The reality is a bit more intricate than what’s dramatized. But the core idea is the same.
Cybersecurity is the process of protecting computers, mobiles, networks, in short, any kind of digital device against threats and attacks. It is one of those aspects that applies to almost every aspect of human life. That is because modern life implements some form of digitization one way or the other. From tech giants to the simple businesses that keep their data on a digital server, everyone is in constant threat of malicious attacks. Strong cybersecurity helps to ensure that every form of tech, be it a product or service, remains safe from harm’s way.
Read ATS Optimised CV: How to make your resume Robot-friendly
Now, what about cybersecurity specialists? The malicious cyber threats are constantly evolving. As a result, there need to be renewed safety measures to combat these threats. This is where a cybersecurity specialist comes in. As the name suggests, a cybersecurity specialist takes measures to address any security loopholes within any system. These are specially trained individuals who can efficiently identify, address and eliminate any threat and take countermeasures to defend against similar issues.
Scope of Career in Cybersecurity
As one of the slated leading jobs of the future, the demand for cybersecurity specialists is already very high in the market. Even though it’s a technical job highly related to tech and computer engineering, the demand for the position is seen in virtually every sector.
Businesses face multifaceted problems due to cybersecurity. It ranges from the loss of public image to extreme financial consequences. Moreover, threats like ransomware, social engineering, and malware have become rampant with different variations and iterations.
Read Blockchain Developer Career Guideline: How to Learn and Make Money?
A cybersecurity specialist can venture into a career in several security streams. It ranges from data security and identity, network management, mobile management, cloud security, application security as well as disaster recovery. Regardless of the streams, the importance and the payout are more or less the same.
A cybersecurity specialist in the USA can expect to earn up to 84,000 USD on average per year. That roughly translates to about 77,88,000 BDT per year. This staggering sum should be enough to motivate anyone interested in this line of work.
How to Become a Cybersecurity Specialist for a Sustainable Career?
The job of a cybersecurity specialist sounds challenging and exciting with high remuneration. So naturally, the question arises, how to become a cybersecurity specialist? Well, there’s no shortcut and the process can be quite challenging given the sophisticated nature of the job. Regardless, here is a step-by-step guide to becoming a cybersecurity specialist.
Education
This is the first and foremost step to becoming a cybersecurity expert. The idea is to learn the process and methods of cyber-attacks and security measures. There are several undergraduate and graduate streams of studies related to core security management. They also venture into different segments in the later parts.
Read Web 3.0 Career Guideline: How to start working and make money
There is also a cybersecurity associate’s degree which acts as a form of certification for the position. But in the actual job market, having a related degree like CS, or CSE will definitely give you an edge over the rest.
Professional Certification
Professional certifications are the best way to get ahead of the herd for landing a cybersecurity job. Tons of cybersecurity certifications often substitute for career experience while applying for different positions. But among them, some are basic certs that a cybersecurity professional has to have. These include the CISSP, CompTIA Security+, CompTIA Network+, CEH, etc. Some of these certifications are stream-based. But all of these are necessary to build a general portfolio in security management.
Experience
It’s impossible to become specialized in certain something without experience. And in the world of cybersecurity, experience is everything. This is something that will make or break the career stream for an aspiring professional. So, if the experience is so important, how should you acquire it?
Read Basic Software Skills for Freshers to Get Hired Easily
Most of the time, the duration of the associated degrees counts towards experience. There are also different associated specialized internships that count towards experience.
Am applicants can also solve dummy threats and create a portfolio for themselves. The best approach is to start somewhere and start building the experience blocks from there.
Developing Hard/Soft Skills
Just like any other job, cybersecurity expert positions also require hard and soft skills. Some of the intensive hard skills include the learning outcomes of the professional certs. In addition to those, an aspiring professional should have other expertise. Like – as network architecture, OS management, security audits, and different database platforms. These solve the hard and fast issues related to the position.
Read How to Get a Job in Google from Bangladesh?
Cybersecurity expert also needs to have a strong interpersonal skill set. These can be categorized under soft skills. Some necessary soft skills include – leadership, research, and communication.
Networking
The last thing to specialize into land a cybersecurity job is to network. Networking is important for cybersecurity. Mainly because of the sophisticated nature of the position. Everyone wants a reliable expert who will deliver without fail. As a result, the demand is there for verified and proven candidates over the rest. Having proper networking will help to land a job simply because of word of mouth and vouching.
Final Words
Cybersecurity jobs will reign in the coming days of AI and automation. With more and more automation, the threat to the system will become even more magnified. As a result, a certified and skilled cybersecurity specialist will find job security and high demand in the market. Not to mention the high payout.
Read AI & Future of Jobs: Will Artificial Intelligence or Robots Take Your Job?
In this article, we have discussed the basic facts about cybersecurity. We have also provided a guideline to develop a career as a cybersecurity specialist. So, if this line of work interests you, then go ahead, and start the journey today.
Winners of Oppo F21 Pro Backlight Sunset Selfie contest announced
Global smart device brand Oppo recently announced the winners of Oppo F21 Pro Backlight Sunset Selfie contest that started a few days ago.
F21 Pro comes with Sony's IMX709 selfie sensor and RGBW technology.
Also Read: Oppo, Google collaborate on Android 13 beta for Find N
During the Backlight Sunset Selfie contest, users were asked to capture a "perfect selfie" in a perfect sunset moment and submit their best selfies on the Oppo Bangladesh Facebook page.
The winners of the contest are Arifa Shobnom, ASM Shahriar Habib and Anika Nawar. They have received prizes, including dynamic headphones Oppo Enco W11 and an F21 Pro t-shirt signed by cricketer Shakib Al Hasan.
Read Oppo launches Eid campaign
Grameenphone observes Green Week 2022
Grameenphone employees observed "Green Week 2022" from May 16-19 to increase environmental awareness.
The focus of the week was to help employees understand how artificial activities influence the planet and its long-term impacts on the environment and to encourage them to adopt an eco-friendlier lifestyle.
Bangladesh, home to 167 million people, is among the countries most vulnerable to climate change. Adverse effects of climate change will have profound repercussions on the economy and development of the country.
Also Read: Hans Martin new Grameenphone chief corporate affairs officer
Grameenphone CEO Yasir Azman said: "It has been estimated that by 2050, one in every seven people in Bangladesh will be displaced by climate change. We frequently overlook certain environmental and climate-damaging activities that can significantly hurt our ecosystems and global health if they remain unresolved."
"With the advent of digitalisation, we see more and more electronic devices being released, more energy being consumed, and more data being exchanged. We need to bring more efficiency to these processes and be wary of our energy consumption. No one can do everything, but everyone can do something – together, we can change the world."
"At Grameenphone, we have been coming up with green plans, partnering with some stakeholders to initiate dialogues and pick up activities to generate better environmental awareness in society. Raising awareness, innovation through low carbon technologies to create an inclusive and genuinely comprehensive mitigation scheme and unitedly increasing usage of renewable energy will contribute towards a greener tomorrow," Yasir said.
Read At 25, Grameenphone wants to become digital telco, contribute beyond connectivity
Grameenphone employees observed Green Week through different dedicated actions – using only reusable shopping bags, constantly turning off electronic equipment when not in use to save electricity, reducing meat consumption and food waste, and planting trees.
To encourage employees, a booth was placed at GPHouse, from where employees could get desired saplings throughout the week.
Meat-free day and single-use plastic-free day was also celebrated at the office on May 18 and 19.
Read Internet connectivity on the go: Grameenphone brings new 4G modems, routers.
Coca-Cola supports economic empowerment of marginalised women
Coca-Cola International Beverages Private Limited (IBPL) gave more than 30 sewing machines to the deputy commissioner of Mymensingh for the economic empowerment of marginalised women.
The women from Bhaluka and Trishal lost their jobs during the pandemic.
The district administration along with Mymensingh Youth Training Centre arranged a training programme for these women to make them financially independent and enable them to earn a good livelihood.
Also Read: Coca-Cola Bangladesh releases maiden Sustainability Highlights 2020
As a part of its corporate social responsibilities, Coca-Cola offered help to these women with sewing machines at a programme Monday in Mymensingh.
Coca-Cola IBPL Managing Director Tapas Kumar Mondal said, "We have offered support to the marginal and financially challenged people with various programmes as part of corporate social responsibilities, especially, during the Covid-19 outbreak."
"We have stepped further to accelerate developments of rural women in Bangladesh."
Read Coca-Cola Bangladesh releases maiden Sustainability Highlights 2020
Healthcare payments: Nagad offers discounts of up to Tk2,350
Mobile financial services provider Nagad's customers will get discounts while making payments for health checkup fees at several hospitals, mental health centres and dental care.
They will get a discount of up to Tk2,350 on Nagad payment for special health checkups at United Hospital till May 31.
For routine health checkups of customers or their loved ones, customers can buy a health card of Tk1,000 from Sakib 75 Health Care and get a discount of Tk600 if they make the payment through Nagad. The offer can be availed multiple times till July 15.
Also Read: Zakat can be donated to Islamic organisations through Nagad
Nagad is offering up to a 25 percent discount on certain services at Dhaka City Physiotherapy Hospital. The offer will be valid till 15 July.
Customers at Zaynax Health can get a 20 percent discount on healthcare by making a payment through Nagad, which will be valid through July 15.
They will get up to 50 percent discount on specific dental treatments at Dental Pixel Hospital on Nagad payment till July 15.
Read Eid: Nagad offers up to 35% cashback, discount on shopping
Customers can receive discounts of up to 15 percent and 5 percent while making payments for mental healthcare through Nagad at LifeSpring and Bangladesh Psychiatric. The offers will be valid till December 31 at LifeSpring and August 31 at Bangladesh Psychiatric Care.
BB depreciates taka by Tk 0.40 against US dollars
Bangladesh Bank (BB) on Monday depreciated taka by Tk0.40 re-fixing Bangladesh currency’s exchange rate against US dollar at Tk 87.90 to stabilize the volatile forex market.
This has been the fourth depreciation of taka against the greenback in past 27 days. Now a US dollar is selling at Tk 87.90 in the inter-bank money exchange.
Different commercial banks are selling cash dollars at five to six taka more. Dollars are being traded at Tk 97 to Tk 98 in the open market or Kerb market outside banks.
Also read: Dollar price decreases in kerb market, after a hefty raise
The BB has sold a total of $5.60 billion to different banks till May 12 of current fiscal year.
In the last FY 2020-21, the BB purchased over $8 billion from different commercial banks to keep the exchange rate of taka with the US dollar stable.
Banks received huge remittances last year, but they (banks) could not spend those due to Covid-induced fall of import demand.
Md. Serajul Islam, executive director and spokesperson of BB told UNB that the dollar price has been re-fixed at Tk 8.90.
Also read: Despite taka depreciating, banks selling dollars at Tk3-4 extra
Rising prices of other commodities, including fuel, in the global market and increased import pressure in the country have put pressure on the forex.
He said Bangladesh Bank is supplying dollars according to the demand of banks considering the market situation.