Dhaka, Sept 27 (UNB) - Islami Bank Bangladesh Limited organised a daylong conference on ‘Enhancing Capacity in Trade Finance’ on Thursday at Islami Bank Tower.
Md Mahbub ul Alam, Managing Director & CEO of the bank, addressed the conference as chief guest.
Mohammed Monirul Moula, Additional Managing Director; Abu Reza Md Yeahia, Taher Ahmed Chowdhury, JQM Habibullah, Muhammad Qaisar Ali and Hasne Alam, Deputy Managing Directors; Md Abdul Jabbar and Taher Ahmed, Senior Executive Vice Presidents of the bank, addressed different sessions of the conference.
Foreign Exchange In-charge of 59 Authorised Dealer (AD) branches and Head of Offshore Banking Units (OBU) attended the daylong conference.
Dhaka, Sep 27 (UNB)- Islami Bank Bangladesh Limited held a day-long conference on enhancing capacity in trade finance at Islami Bank Tower on Thursday.
Md Mahbub ul Alam, Managing Director and CEO of the Bank addressed the conference as chief guest.
Mohammed Monirul Moula, Additional Managing Director, Abu Reza Md Yeahia, Taher Ahmed Chowdhury, JQM Habibullah, FCS, Muhammad Qaisar Ali and Hasne Alam, Deputy Managing Directors, Md Abdul Jabbar and Taher Ahmed, Senior Executive Vice Presidents of the Bank addressed different sessions of the conference.
Foreign Exchange in-charge of 59 Authorised Dealer (AD) branches and Head of Offshore Banking Units (OBU) attended the conference.
Dhaka, Sept 27 (UNB) – Civil Aviation and Tourism Minister AKM Shahjahan Kamal on Thursday said the government has been working sincerely to turn Bangladesh as one of the attractive tourism destinations of the world by utilizing its potential and natural beauty.
He said the government has taken a mega plan to boost the tourism sector with higher presence of domestic and international tourists.
The Tourism Minister was addressing a rally at TSC intersection in Dhaka University campus marking the World Tourism Day 2018.
The colorful rally started from Matsya Bhaban intersection at 8:30 am and ended at TSC intersection in Dhaka University campus.
DU Vice Chancellor Dr Md Akhtaruzzaman, Civil Aviation and Tourism Secretary M Mahibul Haque, Bangladesh Parjatan Corporation Chairman Akhtaruzzaman Khan Kabir and DU Tourism and Hospitality Management Department Chairman Dr Md Bodruzzaman Bhuiyan, among others, spoke at the rally highlighting the importance of the day.
Members of the Tour Operators Association of Bangladesh, Aviation and Tourism Journalists’ Forum of Bangladesh (ATJFB), a platform of journalists covering aviation and tourism affairs, Bangladesh Tourism Board (BTB), Bangladesh Parjatan Corporation and other stakeholders took part in the rally.
The government and different organisations have chalked out various programmes to celebrate the day.
President Abdul Hamid and Prime Minister Sheikh Hasina issued separate messages marking the day.
UN Secretary-General Antonio Guterres has called on governments to support digital technologies that can transform the way people travel, reduce the ecological burden of tourism and bring the benefits of tourism to all.
“Digital technologies have brought a positive momentum to societies and economies around the world. They’ve connected us on a global level, helped to empower the most vulnerable and become our crucial allies for sustainable development,” he said in a message marking the World Tourism Day that falls on September 27.
This year’s theme for the day is ‘Tourism and the digital transformation’.
The UN chief said the wide reach of tourism into many sectors, from infrastructure and energy to transport and sanitation, and its huge impact on job creation, make it a vital contributor to the 2030 Agenda for Sustainable Development.
“At the same time, tourism plays a pivotal role in advancing the cultural understanding and bringing people together,” he said.
Yet tourism, Guterres said needs innovation in technology to realise its potential contributions.
“Its benefits need to flow to host communities. Governments can help connect startups with investors to facilitate innovation, entrepreneurship, employment and a truly inclusive tourism sector,” he added.
The UN chief said, “Our challenge is to continue harnessing this power for good while safeguarding against the risks.”
Meanwhile, Rabindra Sarobar in Dhanmondi, one of the capital’s popular cultural venues, wore a colourful look as three-day tourism festival “Biman Tourism Fest 2018” will begin on Thursday afternoon.
The theme of the festival is “Tourism and the Digital Transformation”.
ATJFB with the administrative support of BTB will host the festival.
Different organizations will display various tourism related products and activities at the venue from 10 am to 7 pm every day.
Civil Aviation and Tourism Minister AKM Shahjahan Kamal will inaugurate the festival as the chief guest at 3 pm. Social Welfare Minister Rashed Khan Menon will attend the closing session on September 29.
A discussion on the tourism master plan centring the Sundarbans will be held on the second day of the fest on September 28.
Experts and different stakeholders of the tourism industry will take part in the discussion where Civil Aviation and Tourism Secretary Md Mohibul Haque will attend as the chief guest.
On each day of the carnival, a cultural show will be staged where popular folk bands, bauls and other traditional solo singers will be performing.
Besides, tribal and traditional dance performances are also included in the festival itinerary.
The festival is sponsored by the national flag carrier Biman Bangladesh Airlines as the title sponsor and powered by US-Bangla Airlines.
NOVOAIR, Rangdhanu Group, Regent Airways and Way Dhaka joined as co-sponsors while Well Food and DBC became food and media partners respectively.
Bangladesh Parjatan Corporation (BPC), Association of Travel Agents of Bangladesh (ATAB) and Tour Operators Association of Bangladesh (TOAB) also joined hands as strategic partners of the fest.
Buenos Aires, Sep 27 (AP/UNB) — The International Monetary Fund agreed Wednesday to increase a lending package with Argentina by $7.1 billion to a total of $57.1 billion, seeking to calm markets over the country's ability to meet its debt amid growing economic turmoil.
Argentina had secured $50 billion in financing as part of a deal worked out with the IMF in June after South America's second-largest economy was battered by a run on the Argentine peso amid double-digit inflation.
IMF Director Christine Lagarde said Wednesday that Argentina's central bank has agreed as part of the deal to intervene in currency markets only in case of extreme circumstances and that the new amount will help Argentina's government face its challenges.
"The Central Bank of Argentina has decided to adopt a floating exchange rate regime without intervention," Lagarde said at a joint news conference with Argentine Economy Minister Nicolas Dujovne in New York.
"In the event of extreme overshooting of the exchange rate, the (bank) may conduct limited intervention in foreign exchange markets to prevent disorderly market conditions."
Argentine Central Bank Chief Guido Sandleris later told reporters that under the revised deal, the central bank initially will intervene only by selling $150 million worth of pesos a day when the currency drops below 34 pesos or rises above 44 pesos per U.S. dollar.
"This will allow us to reduce inflation and recover the stability and predictability in prices that Argentina so badly needs," said Sandleris, who was named to the job Tuesday after Luis Caputo surprisingly resigned.
The new deal will also speed up disbursements to $13.4 billion from $6 billion previously agreed for this year and to $22.8 billion from $11.4 billion previously approved for 2019.
Argentina has been badly hit by a severe drought that has damaged crop yields in the world's third-largest exporter of soybean and corn. The situation worsened beginning in the first quarter of 2018 as world oil prices rose and then interest rate hikes in the United States led investors to pull dollars out of Argentina.
That caused panic among Argentines, who have stashed away dollars as a cushion since the country's worst crisis in 2001 when banks froze deposits and the currency tumbled.
The rush to buy dollars led the peso's value to collapse. Despite several interest rate hikes by the Central Bank, the peso has lost more than half its value this year, making it one of the world's worst performing currencies.
Following the run on the peso, President Mauricio Macri began pushing for early IMF disbursements under a revised deal. He aimed to restore investor confidence and ease concerns that Argentina will not be able to meet its debt obligations next year.
Consumer prices are rising at an estimated annual rate of about 40 percent. Many Argentines joined in a nationwide strike Tuesday to protest Macri's handling of the economic crisis and his decision to turn to the IMF for help.
Most Argentines blame the international lending institution for encouraging policies that led to the country's economic implosion in 2001. It resulted in one of every five Argentines being unemployed and millions sliding into poverty.
The IMF has admitted it made a string of mistakes that contributed to the economic implosion. A 2004 report by the IMF's internal audit unit concluded it failed to provide enough oversight and overestimated growth and the success of economic reforms, while it continued to lend Argentina money when its debt burden had turned unsustainable.
Without further IMF support, the government was forced to declare a record $100 billion sovereign debt default.
Washington, Sep 27 (AP/UNB) — President Donald Trump said Wednesday that he rejected a one-on-one meeting with Canadian Prime Minister Justin Trudeau over the trade dispute involving the North American neighbors and renewed his threat to slap tariffs on cars imported from Canada as negotiations drag on.
Trudeau spokeswoman Eleanore Catenaro said in response: "No meeting was requested. We don't have any comment beyond that."
In an extraordinary rebuke of America's northern neighbor, Trump vented his frustration with Canada during a news conference along the sidelines of the United Nations General Assembly, the latest sign of deteriorating relations between two allies who share a border.
"His tariffs are too high and he doesn't seem to want to move and I've told him forget about it," Trump said of Trudeau. "And frankly, we're thinking about just taxing cars coming in from Canada. That's the mother lode. That's the big one."
"We've very unhappy with the negotiations and the negotiating style of Canada. We don't like their representative very much," Trump said in an apparent reference to Canada's Minister of Foreign Affairs Chrystia Freeland, who has been negotiating with U.S. Trade Representative Robert Lighthizer.
Canada, the United States' No. 2 trading partner, was left out when the U.S. and Mexico reached an agreement last month to revamp the North American Free Trade Agreement. The U.S. and Canada are under pressure to reach a deal by the end of the month, when Lighthizer must make public the full text of the agreement with Mexico.
But Trump suggested he may go forward with a revamped NAFTA without Canada. The president said it would be called "USM," for the U.S. and Mexico, instead of "USMC," and offered blunt criticism of the Canadian team engaged in the talks.
"Canada has a long way to go. I must be honest with you, we're not getting along at all with their negotiators. We think their negotiators have taken advantage of our country for a long time," he said.
Any push by Trump to slap a 25 percent tariff on imported autos and auto parts from Canada might help American workers but could also inflate car prices, make U.S. manufacturers less competitive and generate retaliation.
Roughly four in five cars assembled in Canada are exported. The Canadian Automobile Dealers Association has warned that the auto tariffs could affect billions of dollars' worth of exports and lead to the loss of more than 100,000 jobs across the country.
Relations between the two neighbors have been strained since Trump assailed Trudeau at the G-7 meeting in June, calling him a "weak" and "dishonest" back-stabber. Canadian leaders have objected to Trump's decision to impose tariffs on Canadian steel, citing national security.
The trade talks have been deadlocked over issues such as Canada's high dairy tariffs and U.S. efforts to shield drug companies from generic competition. Trump, during the news conference, reiterated his longstanding grievances against NAFTA and job losses, saying the trade pact had been "great for Canada, great for Mexico, very bad for us."
The trade agreement, which took effect in 1994, removed most trade barriers between the U.S., Canada and Mexico, leading to a boost in trade, but it encouraged U.S. automakers and other manufacturers to move south of the border to take advantage of low-wage Mexican labor.