Dhaka, Nov 5 (UNB) - Axiata Group Berhad has appointed its interim Chairman Tan Sri Ghazzali Sheikh Abdul Khalid as the company Chairman.
He has also been serving as the Chairman of Robi Axiata Limited since 2009.
Tan Sri Ghazzali is a long serving member of Axiata Board of Directors, having been appointed into the role in March 2008. He assumed the role of interim Chairman in August 2018 following the resignation of Axiata’s former Chairman, Tan Sri Datuk Wira Azman Hj. Mokhtar.
As part of the transformation over the last two years, the Axiata Board has made and will continue to make further changes to refresh and strengthen the Board with the right mix of skills, expertise and diversity in the areas of operations, international business, finance, technology and human capital.
In 2017 and 2018 alone, as part of the plan and in a phased-in approach, new Board members have been appointed and some have retired.
Given all the changes and responding to the dynamic, fast-moving global digital business environment, Tan Sri Ghazzali’s appointment as Chairman, being the most senior and experienced member, ensures a smooth succession and transition to the Board as it embraces all the new changes in the Board, business and organisation.
As a notable and highly respected retired Malaysian diplomat with almost 40 years in the diplomatic services, Tan Sri Ghazzali is well-recognised for his unrelenting dedication in ensuring the highest levels of governance, process excellence and transparency.
In welcoming his appointment on behalf of all the board members and management, Tan Sri Jamaludin Ibrahim, President & Group Chief Executive Officer of Axiata said, “Since taking over the mantle of leadership of the Axiata Board, Tan Sri Ghazzali has demonstrated the highest standards of commitment and professional rigour in his role as interim Chairman.
As a pioneer member of the Board since 2008, the Group has consistently benefited from Tan Sri Ghazzali’s broad corporate and international experience that has led to the rapid growth and expansion of Axiata across the region to what it is today, one of Asia’s leading telecommunications groups.”
“Many of us who have had the privilege and honour of working with Tan Sri Ghazzali are delighted to have him continue to lead the Axiata Board as our Chairman and look forward to his stewardship, valuable guidance and insights as Axiata embarks on its journey to become the New Generation Digital company”.
Tan Sri Ghazzali said, “I welcome the opportunity to further contribute to Axiata’s exciting future as the Group takes on new challenges in the region, particularly in leading the digital transformation of economies and in strengthening our resilience and competitive edge as long-term and committed investors in our markets.”
Tan Sri Ghazzali’s role as the Senior Independent Director of Axiata will be replaced by Mr David Lau Nai Pek, who is also the Chairman of the Board Audit Committee and Board Risk Management Committee.
Beijing. Nov 4 (AP/UNB) — Facing a blizzard of trade complaints, China is throwing an "open for business" import fair hosted by President Xi Jinping to rebrand itself as a welcoming market and positive global force.
More than 3,000 companies from 130 countries selling everything from Egyptian dates to factory machinery are attending the China International Import Expo , opening Monday in the commercial hub of Shanghai. Its VIP guest list includes prime ministers and other leaders from Russia, Pakistan and Vietnam.
The United States, fighting a tariff war with Beijing, has no plans to send a high-level envoy.
Xi's government is emphasizing the promise of China's growing consumer market to help defuse complaints Beijing abuses the global trading system by reneging on promises to open its industries.
"This says, look, we're not a global parasite that is creating massive deficits, we are buying goods," said Kerry Brown, a Chinese politics specialist at King's College London.
The event also is part of efforts to develop a trading network centered on China and increase its influence in a Western-dominated global system.
President Donald Trump and his "American first" trade policies that threaten to raise import barriers to the world's biggest consumer market loom in the background.
Exporters, especially developing countries, want closer relations with China to help "insulate themselves from what is happening with Trump and the U.S.," said Gareth Leather of Capital Economics.
China has cut tariffs and announced other measures this year to boost imports, which rose 15.9 percent in 2017 to $1.8 trillion. But none address the U.S. complaints about its technology policy that prompted Trump to impose penalty tariffs of up to 25 percent on $250 billion of Chinese imports. Beijing has responded with tariff hikes on $110 billion of American imports.
Chinese leaders have rejected pressure to roll back plans such as "Made in China 2025," which calls for state-led creation of global champions in robotics and other fields, ambitions that some American officials worry will undermine U.S. industrial leadership.
To keep the economy growing, China needs to nurture its consumer market and that requires more imports.
But foreign companies say regulators are still trying to squeeze them out of promising industries and that they face pressure to hand over technology.
The Shanghai expo "will be of little consequence to U.S. and other companies unless its pageantry is matched by meaningful and measurable changes in China trade practices," Kenneth Jarrett, president of the American Chamber of Commerce in Shanghai, said in an email.
Some companies might get a brief sales boost, "but its long-run impact will be defined by China's willingness to end many of its unfair trade practices," said Jarrett.
Europe, Japan and other trading partners have been leery of Trump's tactics but echo U.S. complaints.
They say Beijing improperly hampers access to finance, logistics and other service industries. European leaders are frustrated that Beijing bars foreign acquisitions of most assets while its own companies are on a global buying spree.
Writing in a Chinese business magazine, the French and German ambassadors to Beijing appealed for changes including an end to requirements that foreign companies operate in joint ventures with state-owned partners. They called for an overhaul of rules they say hinder companies from profiting from and protecting their technology.
"We encourage China to address these issues through concrete and systematic measures that go beyond tariff adjustments," Ambassadors Jean-Maurice Ripert of France and Clemens von Goetze of Germany wrote in the magazine Caixin.
China already is the No. 1 trading partner for all its Asian neighbors, though a big share of the iron ore, industrial components and other goods it buys are turned into smartphones, TV sets and other goods for export.
Tariff cuts announced over the past year were aimed at giving Chinese consumers better access to foreign goods. Chinese leaders emphasize those include anti-cancer drugs and other medical products. But many are specialty goods such as high-end baby strollers, avocados and mineral water that don't compete with Chinese suppliers.
The Shanghai expo also gives Beijing a chance to repair its image following complaints about its "Belt and Road" initiative to expand trade by building ports, railways and other infrastructure across a vast arc of 65 countries from the South Pacific through Asia to Africa and Europe.
Governments including Nepal, Sri Lanka and Thailand have scrapped or scaled back projects due to high costs or complaints too little work goes to local companies. Sri Lanka, Kenya and other nations have run into trouble repaying Chinese loans.
"It's become too associated with debt and China getting what it wants," said Brown. "They are trying to get out this more positive message that China is open for business."
Dhaka, Nov 3 (UNB)- Local electronics and electrical appliances manufacturer Marcel has brought nearly 50 various sorts of home appliances over the winter season.
To meet the target, Marcel undertook some timely initiative like showcasing huge number of models of home appliances, introducing new models, creating sufficient stocks in the outlets, bringing diversity in the product’s design, reshaping marketing strategies etc.
Centering this winter, the local brand has brought 19 models of rice cooker, 6 models of pressure cooker, 4 models of electric kettle and iron, 3 models of microwave oven and room heater, 8 models of blender, one model of energy efficient induction cooker.
Among these, Marcel newly released one model of microwave oven and blender.
Besides, there are two models of electric kettle and microwave oven in the upcoming list of the local brand’s home appliances.
Marcel officials said that the customers’ reliance on Marcel products is increasing every year. This year, the sales of Marcel home appliances have been increased by more than 30 percent in the period of January to September period compared to the sales of the same period of the previous year.
Marketing executives of home and electrical appliances division of Marcel said, they experienced higher demands of their produced induction cooker and room heater during the last year’s winter season.
Dr Md Shakhawat Hossen, head of sales of Marcel, said, sales of their home appliances during the last of couple of winters were quite satisfactory. This year, he said, they set a target of grabbing a remarkable portion of the local demands of the home appliances during winter.
To this extent, he said that they completed all of their preparation before the advent of winter.
Along with the home appliances, Marcel is manufacturing and marketing world-class frost and non-frost refrigerators, freezers, LED televisions, air conditioners, generators, electric fans, electric switch-sockets, acid led rechargeable batteries, air coolers, kitchen cookware, gas stoves, rechargeable lamps and torches, stabilizers and protectors, water purifiers etc.
Mentionable, Marcel is providing swift and after sales services to the users through its ISO standard service management system, where around 2,500 engineers and technicians were employed.
Dhaka, Nov 1 (UNB)- Al-Arafah Islami Bank Ltd (AIBL) started its three-month long CASA (Current Account & Savings Account) Campaign at its Motijheel Branch in the capital city on Thursday.
Managing Director (Current Charges) of AIBL, Md Fazlul Karim inaugurated the campaign as chief guest, while its Deputy Managing Director SM Jaffar was present as special guest.
Presided by Abdullah Al Mamun, Executive Vice President and Manager of Motijheel Branch, the programme was also attended, among others, by Engr. Md Habib Ullah, Executive Vice President, Jalal Ahmed, Vice President, Sultan Mahmud, Vice President, Lokmanur Rahman, Vice President and Mollah Khalilur Rahman, Assistant Vice President along with other officials of Motijheel Branch.
The CASA campaign will end on 31 January, 2019. The best 20 executives will be rewarded according to their performance at the end of the campaign, said a press release.
Dhaka, Nov 1 (UNB)- A meeting of the sharia supervisory committee of Islami Bank Bangladesh Limited (IBBL) was held at Islami Bank Tower on Thursday.
Mufti Sayeed Ahmad, Vice Chairman of the Committee presided over the meeting.
Mohammed Monirul Moula, Additional Managing Director of the Bank, Dr. Mohammad Abdus Samad, Member Secretary and other members of the committee attended the meeting.