Dhaka, Apr 16 (UNB)- The country's electronics giant 'Walton' announced ‘Baishakhi Offer’ for the customers of refrigerators on the occasion of Pahela Baishakh.
Under this offer, a total of 500 customers will get ‘Golden Edition Fridge’ of special design through purchasing any model of fridges from Walton Plaza or distributor outlet across the country, said a press release on Tuesday.
The customers, who will register their purchased fridges under the ongoing Walton Digital Campaign, will be eligible for this offer. Customers will enjoy this offer during the entire month of Baishakh.
The offer was announced while unveiling Golden Edition Fridge of unique designed at Walton Corporate Office in the capital on April 13.
Walton Hi-Tech Industries Limited (WHIL) Director SM Mahbubul Alam and Walton’s Sports Ambassador Bangladesh national cricket player Mehedi Hasan Miraz, an all-rounder cricketer of Bangladesh National Cricket Team unveiled the new model of refrigerator.
Executive Directors Amdadul Haque Sarker, Nazrul Islam Sarker, SM Zahid Hasan, Humayun Kabir, Uday Hakim, Ariful Ambia, Golam Murshed and Amin Khan were, among others, attended the programme.
Along with this offer, the customers may get sure cash vouchers up to Tk 1 lakh or free products such as motorcycle, air conditioner, laptop, refrigerator, LED TV, oven and different electrical, electronics and home appliances.
Speaking at the function, WHIL Director SM Mahbubul Alam said, everyone likes to get new year gifts. Thus, Walton released refrigerator of unique design as special gift of Bangla New Year for the customers of Walton brand fridges, he added.
At the function, the Walton officials said they set a target of selling two million units of fridges in 2019 across the country. To achieve this target, Walton released huge energy efficient and environment-friendly new models of fridges with lucrative designs.
At now, Walton is supplying 101 models of frost and 20 models of non-frost refrigerator, 16 models of freezer and 2 models of beverage cooler.
Shanghai, Apr 16 (AP/UNB) — Automakers are showcasing electric SUVs and sedans with more driving range and luxury features at the Shanghai auto show, trying to appeal to Chinese buyers in their biggest market as Beijing slashes subsidies that have propelled demand.
Communist leaders wanting China to lead in electric vehicles have imposed sales targets. That requires brands to pour money into creating models to compete with gasoline-powered vehicles on price, looks and performance at a time when they are struggling with a Chinese sales slump.
General Motors, Volkswagen, China's Geely and other brands on Tuesday displayed dozens of models, from luxury SUVs to compacts priced under $10,000, at Auto Shanghai 2019. The show, the global industry's biggest marketing event of the year, opens to the public Saturday following a preview for reporters.
On Monday, GM unveiled Buick's first all-electric model for China. GM says the four-door Velite 6 can travel 301 kilometers (185 miles) before the battery needs charging.
VW showed off a concept electric SUV, the whimsically named ID. ROOMZZ, designed to travel 450 kilometers (280 miles) on one charge. Features include seats that rotate 25 degrees to create a lounge-like atmosphere.
Communist leaders have promoted "new energy vehicles" for 15 years with subsidies to developers and buyers. That, along with support including orders to state-owned utilities to blanket China with charging stations, is helping to transform the technology into a mainstream product.
"People's mindset and governmental policies are more encouraging toward e-cars than in any other country," said VW CEO Herbert Diess.
Electric vehicles play a key role in the ruling Communist Party's plans for government-led development of Chinese global competitors in technologies from robotics to biotech.
Those ambitions set off Beijing's tariff war with President Donald Trump. Washington, Europe and other trading partners complain Chinese subsidies to technology developers and pressure on foreign companies to share know-how violate its market-opening commitments.
Electric car subsidies end next year, replaced by sales quotas. Automakers that fall short can buy credits from competitors that exceed their targets or face possible fines.
"Most of the traditional car makers are under huge pressure to launch NEVs," said industry analyst John Zeng of LMC Automotive.
Last year's Chinese sales of pure-electric and hybrid sedans and SUVs soared 60% over 2017 to 1.3 million, or half the global total. At the same time, industry revenue was squeezed by a 4.1% fall in total Chinese auto sales to 23.7 million vehicles.
That skid that worsened this year. First-quarter sales fell 13.7% from a year ago.
Still, China is a top market for global automakers, giving them an incentive to go along with Beijing's electric ambitions. Total annual sales are expected eventually to reach 30 million, nearly double last year's U.S. level of 17 million.
Under Beijing's new rules, automakers must earn credits for sales of electrics equal to at least 10% of purchases this year and 12% in 2020. Longer-range vehicles can earn double credits. That means some brands can fill their quota if electrics make up as little as 5% of sales.
Also Tuesday, Nissan Motor Co. and its Chinese partner displayed the Sylphy Zero Emission, an all-electric model designed for China. Based on Nissan's Leaf, the lower-priced Sylphy went on sale in August.
Mercedes Benz displayed its first all-electric model in China, the EQC 400 SUV. The Germany automaker says it can travel 400 kilometers (280 miles) on one charge and can go from zero to 100 kph (62 mph) in 5.2 seconds.
Mercedes plans to release 10 electrified models worldwide, with most built in China, according to Hubertus Troska, its board member for China.
Some Chinese rivals have been selling low-priced electrics for a decade or more.
China's BYD Auto, the biggest global electric brand by sales volume, unveiled three new pure-electric models last month. All promise ranges of more than 400 kilometers (280 miles) on one charge.
Last week, Geely Auto unveiled a sedan under its new electric brand, Geometry, with an advertised range of up to 500 kilometers (320 miles) on one charge.
Geely's parent, Geely Holding, launched a joint venture with Mercedes parent Daimler AG in March to develop electrics under the smart brand. Geely Holding is Daimler's biggest shareholder and also owns Sweden's Volvo Cars.
Beijing wants to force automakers to speed up innovation and squeeze out producers that rely too heavily on subsidies. But the technology minister acknowledged in January that China faces a difficult transition as that spending is ending.
Keeping development on track "will be a challenge," said Miao Wei, according to a transcript on his ministry's website.
The shift creates an opportunity for fledgling Chinese automakers that lag global rivals in gasoline technology. They have just 10% of the global market for gasoline-powered vehicles but account for 50% of electric sales.
The end of subsidies should lead to dramatic changes, said Zeng of LMC Automotive. He said longer-range, feature-rich models from global majors will replace small producers that cannot survive without subsidies.
Electric vehicles "will be much more competitive," said Zeng.
As the cost of batteries and other components falls, industry analysts say electrics in China could match gasoline vehicles in price and become profitable for manufacturers in less than five years.
EVs carry a higher sticker price in China than gasoline models. But industry analysts say owners who drive at least 16,000 kilometers (10,000 miles) a year save money in the long run, because maintenance and charging cost less.
Dhaka, Apr 15 (UNB)- Islami Bank Bangladesh Limited (IBBL) has recently inaugurated its Agent Banking outlet in Satbaria Bazar of Sujanagar upazila in Pabna district .
Ahmed Firoz Kabir, MP of Pabna-2 constituency inaugurated the outlet as a chief guest, said a press release on Monday.
Presided over by Md Kawsar ul Alam, Executive Vice President and Head of Rajshahi zone, the program was addressed by Md Abdul Based, Principal of Satbaria Degree College, SM Shamsul Alam, Chairman, of Satbaria Union Parishad and AKM Shamsul Alam, Headmaster of Satbaria High School as special guests.
Syed Abdul Latif, Head of Sujanagar Branch of the bank and Md Ashraful Alam, bank’s agent and Proprietor of M/S Ashraful Alam Enterprise addressed the program while local businesspersons, professionals and dignitaries were present on the occasion.
Washington, Apr 14 (AP/UNB) — Global finance officials are pledging closer cooperation in efforts to lift the world economy out of its current slowdown, but tensions persist between the United States and other nations over trade and other issues.
Officials wrapped up the spring meetings of the 189-nation International Monetary Fund and the World Bank on Saturday, expressing hope the slowdown that began last year will be followed by stronger growth in the second half of this year and into 2020.
The IMF's steering committee said all members, in order to protect the current economic expansion, would "act promptly to shore up growth for the benefit of all."
At a closing news conference, the committee chairman, Lesetja Kganyago, head of the central bank of South Africa, said every country needs to be ready to address issues involving financial stability "with all available tools."
Many nations were jolted last year when stock markets went into a nosedive, reversed only when major central banks, including the Federal Reserve, halted efforts to tighten credit policies.
Separately, Treasury Secretary Steven Mnuchin told reporters that both the United States and China were moving closer to an agreement on trade. The trade war between the world's two biggest economies and the punitive tariffs each nation has imposed on the other raised widespread concerns during the talks.
But Chen Yulu, deputy governor of People's Bank of China, struck a less positive stance in his remarks to the IMF policy committee, contending that rising trade protectionism in the form of punitive tariffs had already begun to disrupt global supply changes.
"The protectionism of some countries has harmed mutual trust among countries, limited the scope for multilateral cooperation and impeded the willingness to achieve it," he said.
The U.S. and China have imposed tariffs on $350 billion worth of each other's goods. They are battling over U.S. allegations that China deploys predatory tactics — including cybertheft and forcing foreign firms to hand over trade secrets — in a sharp-elbowed effort to challenge American technological dominance.
In his meeting with reporters, Mnuchin said he had told the other finance officials that the US-China negotiations were making progress but he would not disclose a timeframe for when they might be wrapped up. He said both sides had conducted phone discussions over the past week, but he wasn't certain whether more face-to-face meetings would be needed.
"If we are able to conclude this, it will be the most significant change in 20 years" in the economic relations between the two nations, Mnuchin said.
He said that the proposed agreement the two sides are working on has seven chapters and includes language that will allow both countries to set up enforcement offices to make sure the deal is followed.
In remarks to the World Bank's steering committee on Saturday, Mnuchin said the U.S. was encouraged that the bank's private sector lending operation wanted to step up support for nations "affected by fragility, conflict and violence." But he said World Bank officials must ensure such support is aimed at boosting effective private investments in poor countries.
David Malpass, a longtime World Bank critic, took over as president of the bank on Tuesday with the backing of the administration. Reviewing the meetings this week, Malpass said that the challenges facing the World Bank were more urgent than ever with over 700 million people around the globe still living in extreme poverty.
"It is critically important that we work tirelessly to foster broad-based growth, raise median incomes, create jobs and fully incorporate women and young people in economies," Malpass said in a statement.
President Donald Trump said in a newly published interview that he had considered his daughter Ivanka, a White House adviser, for the job of World Bank president.
"She would have been great at that because she's very good with numbers. She's got a great calmness. ... I've seen her under tremendous stress and pressure," he was quoted as telling The Atlantic.
When Jim Yong Kim resigned suddenly as bank president earlier this year, reports said that Ivanka Trump along with Malpass were being considered for the job, which has always gone to an American.
Before the meetings of the policy-setting panels of the IMF and World Bank, finance ministers and central bank presidents of the Group of 20 major economies held discussions Thursday and Friday.
G-20 officials agreed with a downgraded IMF forecast released this week. It predicted global growth would be 3.3% this year, the slowest since the Great Recession ended in 2009, but would regain momentum and advance to growth of 3.6% in 2020.
Dallas, Apr 13 (AP/UNB) — Southwest Airlines customers relaxing on Thursday evening got an email that may mean their summer vacation could be more stressful and expensive than they planned.
Southwest, the biggest operator of Boeing jets, is removing the grounded 737 Max from its schedule until at least Aug. 5, well past the peak of the summer high season.
Company President Tom Nealon wrote in his email that the airline is taking the Max out of its schedule two months longer than previously planned to reduce the need for last-minute changes during the summer travel season. The decision, he wrote, would make the schedule more reliable.
Other airlines are likely to follow Southwest's example, putting pressure on Boeing to finish fixing software on an anti-stall system implicated in two deadly crashes.
Last month, Boeing and federal officials said privately that the company would finish its work before the end of March. Instead, it was delayed by an unexpected problem that Boeing hasn't fully described, and the company is now aiming to complete its work by late April.
Boeing CEO Dennis Muilenburg said the company's pilots have flown 96 test flights totaling 160 hours with the new software and will operate more in the coming weeks to prove that the fix works.
The changes must be submitted to the Federal Aviation Administration for approval. Foreign regulators including those in Europe and China will then do their own reviews — significant because foreign airlines account for about 85% of Max orders, according to analysts for financial services firm Cowen.
It remains uncertain how willing passengers will be to board the Max after crashes in Indonesia and Ethiopia killed all 346 people on board.
"The general flying public seems to be asking more questions about the airplane than they have with prior fleet groundings," said Goldman Sachs analyst Noah Poponak, referring to the 2013 grounding of Boeing 787s because of overheating lithium-ion battery packs. The 787 survived and became a hit with airlines and passengers.
FAA officials including acting chief Daniel Elwell met in Washington with representatives from Southwest, American and United and their pilot unions. An FAA spokesman said they went over the early findings from the two crash investigations, upcoming changes in the Max software, and pilot training for those changes. Elwell promised that the agency would be transparent about decisions to clear the plane to fly.
American Airlines 737 pilot Dennis Tajer, who was in the meeting, said unions pushed for a stronger pilot-training program including troubleshooting items only indirectly related to the anti-stall software. He said FAA seemed receptive.
"This will not be a minimum-training event to just get by," he said.
The longer the Max planes sit on the ground, the more money airlines lose. Southwest already figures that just the first three weeks the Max had been grounded, along with other setbacks, cut the airline's first-quarter revenue by $150 million.
Southwest has been canceling about 90 flights a day because its 34 Max jets have been grounded since mid-March. Spokesman Chris Mainz said the new schedule eliminates about 160 daily flights to assure customers that it will operate the flights they booked.
That is 4% of Southwest's 4,000 daily flights during summer. Still, unless the airline finds replacement planes quickly — and that can be a complicated process — Southwest will scrap about 10,000 flights that could have carried nearly 1.8 million people between now and early August.
American Airlines doesn't expect its 24 Max jets to be flying before June 5, and it too is canceling about 90 flights a day.
United Airlines, with 14 Max planes, says it is shuffling its fleet and mostly covering flights that were scheduled with the Max in mind.
Without those planes, travelers will have fewer flights to choose from, and fewer planes to carry passengers whose flights are canceled for other reasons such as bad weather. There could also be fewer fare sales.
"Travelers who have not already booked their summer reservations may end up paying a slightly higher airfare," said Henry Harteveldt, a travel-industry analyst with Atmosphere Research Group, "but it's not going to be the summer from hell."
Harteveldt said he expects airlines that don't have Max jets — a list that includes Delta, JetBlue, Alaska and Spirit — will court travelers with price-cutting.
The cost of the Max crisis to Boeing also rises the longer the plane is grounded and jets coming off the assembly line pile up around Seattle.
With aircraft orders booming, Boeing shares have soared for more than two years, although they dropped about 14% from March 1 through Friday's close. Most of Wall Street has expressed confidence that Boeing can fix the Max quickly and regain momentum.
Poponak, the Goldman Sachs analyst, said however there is a risk that Boeing orders could suffer for the next few years. He said some airlines seemed to view the Airbus competitor, the A320neo series, as superior, and some aircraft-leasing companies faced a challenge to place the Max with airline customers.
Since its launch in 2017, the Max had emerged as Boeing's best-selling jet. Fewer than 400 have been delivered, but about 4,600 are on order.
However, the company took no new orders for the Max in March — not even before the March 10 crash in Ethiopia — and only 10 in the first three months of the year, down from 112 in the same period last year. It could be that airlines interested in the plane had already placed orders.
Boeing stopped deliveries and announced last week that it was cutting production of 737s from 52 to 42 a month.
Airlines in China and Norway have said they want compensation for their grounded planes. While other airlines have kept silent, analysts expect Boeing will make concessions that could total hundreds of millions of dollars.
The Chicago-based company also faces a growing number of lawsuits by families of the crash victims.
Boeing hasn't provided numbers on the financial impact from the Max crisis.