Business
Nagad introduces add-money thru’ Agrani Bank’s smart banking app
In an effort to make digital transactions more convenient and affordable, Nagad introduced add-money thru’ Agrani Bank’s smart banking app.
From now, people can transfer money to their Nagad wallets using Agrani Bank’s ‘Smart Banking’ app, said a press release issued on Tuesday.
An agreement has recently been signed between Nagad Limited and Agrani Bank at the latter’s office in the capital’s Motijheel area.
On behalf of Nagad, its Executive Director Maruful Islam Jhalak, Head of Business Mohammad Mahbub Sobhan, and Deputy General Manager Md Bayzid were present during the signing ceremony.
On the other hand, Md Murshedul Kabir, managing director and chief executive officer of Agrani Bank, Wahida Begum, deputy managing director of Agrani Bank, Shyamal Krishna Saha, deputy managing director of Agrani Bank, Rezina Parveen, deputy managing director of Agrani Bank, and Md Shahinur Rahman, general Manager of Agrani Bank, attended the event.
Talking about the agreement, Executive Director Maruful Islam Jhalak said, “We are working on making digital transactions more seamless and convenient. In continuation of it, Nagad has signed this agreement with Agrani Bank.”
From now on, customers of Agrani Bank can easily add money to Nagad wallets, he added.
Currently, 31 banks allow their customers to add money to Nagad wallets. These include Trust Bank, the City Bank, Community Bank, First Security Islami Bank, Mutual Trust Bank, Premier Bank, AB Bank, NRBC Bank, Dhaka Bank, Social Islami Bank, IFIC Bank, National Bank, Exim Bank, Midland Bank, Standard Bank Limited, Union Bank, Shahajalal Islami Bank, NRBC Bank, Rajshahi Krishi Unnayan Bank, Meghna Bank Limited, Bangladesh Development Bank Limited, Bengal Commercial Bank Limited, South Bangla Agriculture Bank, Islami Bank Bangladesh, Southeast Bank, Mercantile Bank, Padma Bank, Citizens Bank, and Bangladesh Commerce Bank Limited.
Volkswagen unveils electric luxury sedan at China auto show
Volkswagen unveiled an electric luxury sedan that promises a 700-kilometer (435-mile) battery range as global and Chinese automakers showed their latest SUVs, sedans and muscle cars Tuesday at the world’s biggest auto show.
Auto Shanghai 2023 reflects the intense competition in China’s fast-growing electric vehicle market after the ruling Communist Party poured billions of dollars into promoting the technology. China accounted for two-thirds of global electrics sales last year.
Brands including General Motors, BMW and Nissan and Chinese rivals BYD Auto and NIO unveiled dozens of new EVs in the cavernous Shanghai exhibition center. Brands touted faster charging, satellite-linked navigation and entertainment, and the future possibility of self-driving technology.
Volkswagen’s ID.7 sedan, the new flagship model for its electric vehicles, was one of 28 models displayed by the German automaker, half of them electrified.
“We are turbo-charging our electric campaign,” said the CEO of VW’s passenger car brand, Thomas Schäfer, who rode onto the stage aboard an electric minibus.
Automakers are looking to China to drive sales growth at a time of slack American and European demand, but that requires them to invest to develop competitive models in a crowded market. Established global brands face pressure from ambitious Chinese newcomers and to meet government sales quotas for electrics. Many are forming partnerships to split soaring development costs.
China is “playing a leading role in the industry’s electric and digital transformation,” said Ford Motor Co. CEO Jim Farley in a recorded message played on a video screen.
Electrics accounted for just over 1 in 4 of the 23.6 million SUVs, sedans and minivans sold last year in China while sales of traditional gasoline-powered vehicles declined.
BMW AG showed an all-electric lineup including two new models, the i7 M70L and XM Label Red. The German sport luxury brand’s M760Le was shown in China for the first time.
GM debuted an electric SUV, the Buick Electra E5, ahead of the auto show. Toyota Motor Co. unveiled two new models for its bZ line of zero-emissions vehicles. Toyota also displayed a prototype self-driving taxi developed with China’s Pony.ai, a leading competitor in the country’s fast-evolving autonomous vehicle industry.
For the first time since 2019, executives flew in from the United States, Europe and Japan for the show after anti-virus controls that cut off most travel into and out of China were lifted in December. VW flew in its entire board of directors and that of Porsche in a show of commitment to the Chinese market.
The organizers said automakers would debut 100 new models, 70 of them electric, according to Chinese media.
Drivers in the world’s biggest auto market bought 5.4 million pure-electric vehicles last year — about two-thirds of the global total of 8 million — plus 1.5 million gasoline-electric hybrids. That was more than one-quarter of total auto sales of 23.6 million. This year’s EV sales are forecast to rise another 30%.
Beijing is winding down government support and shifting the burden to automakers by requiring them to earn credits for EV sales.
Sonamasjid Land Port in Chapainawabganj to remain closed for 6 days during Eid
Export-import activities between Bangladesh and India via the Sonamasjid Land Port will remain suspended for six days on the occasion of Eid-ul-Fitr, the biggest festival of Muslims, port authorities said today.
Abdur Rashid, general secretary of Sonamasjid Land Port C&F Agents Association, said that trade activities will remain suspended from April 19 to April 24 on the occasion of Eid.
Read: Benapole Port to remain shut for 5 days
Trade activities will resume on April 25, he said. However, loading and unloading activities of imported goods at the port will remain normal during this period.
Besides, travelers with passports can travel between Bangladesh and India through the land port's immigration check post during this time, he added.
Dip in US market fails to dent apparel sector's growth momentum
Bangladesh’s apparel exports in the first nine months of the current fiscal, i.e. July 2022-March 2023, jumped by around 12 percent - an impressive clip by anybody's standards. It is even more impressive when you consider that apparel exports to the US, which has been its largest single market, actually declined 5%.
On the other hand, exports to the European Union overall, kept up with the pace of the industry. Apparel exports to the European Union during July-March of the 2022-23 fiscal also jumped by almost 12 percent (11.8% to be more precise), to $17.61 billion, compared to the $15.75 billion recorded in July-March of the 2021-22 fiscal, according to BGMEA Director Mohiuddin Rubel.
The overall growth in apparel export has been an impressive 12.2%, from $31.43 billion in the first 9 months of FY 2021-22, to $35.25 billion in the first 9 months of FY 2022-23.
Read More: Speakers emphasise safety, security in industries to avert another Rana Plaza tragedy
This highly impressive growth figure has been achieved despite the industry's exports to the US having actually declined by 5 percent - to $6.25 billion in the first 9 months of the current fiscal, from the $6.6 billion recorded last year.
Bangladesh’s apparel exports to the UK and Canada reached $3.84 billion and $1.08 billion with 14.04 percent and 17.68 percent growth respectively.
Among the major markets in the EU, apparel exports to Germany declined by 4.16% year-over-year while exports to France and Spain grew by 25.23% and 18.82% year-over-year respectively. On the other hand, exports to Poland declined by 14.86%.
Read More: BGMEA writes to US policymakers for duty-free access for US cotton-made apparel.
The most significant growth was reported in the nontraditional sector. The apparel export to nontraditional market increased by 34.74% to US$6.44 billion in July-March period of FY 2022-23 from US$ 4.78 billion in the same period.
Mohiuddin Rubel, BGMEA director, said: “BGMEA is working to facilitate the exploration of new markets, as well as working on policy reforms to facilitate and simplify business.”
“Our efforts will be continued, and it’s time for all of us in the industry to promote and highlight our strengths in new products and new markets before the global customers (existing and new ones) to explore new opportunities. That will help sustain our growth in the longer term,” he added.
Read More: Apparel exports to EU grew 35.69% in 2022.
Benapole Port to remain shut for 5 days
Trade with India through the Benapole Land Port will remain suspended from April 19 to April 23 for the Eid-ul-Fitr holidays, the biggest festival of the Muslims.
Customs and other activities will continue during this period and the officials concerned at the immigration were kept on standby for this, said Abul Kalam Azad, officer-in-charge of Benapole Check Post Police Immigration.
The trade activities will resume on April 24.
Besides, loading and unloading of goods from trucks and covered vans will remain suspended from three days before and after Eid, he said.
Stringent security measures have been taken in the port area to avoid any kind of untoward incident, said deputy director of Benapole port Abdul Jalil.
Finance Ministry releases Tk 1000 crore incentives for knitwear sector ahead of Eid
The Ministry of Finance has released cash incentives of Tk1,000 crore for Bangladesh's export-oriented knitwear sector.
The ministry took the decision 11 days after receiving an application of Bangladesh Knitwear Manufacturers and Exporters Association's (BKMEA) for financial support for payment of salary and Eid bonus ahead of Eid-ul-Fitr.
Read: Bangladesh Bank has revolutionised digitalisation of financial sector: Dr Atiur
The request for cash assistance was made to the government on March 30 in a letter signed by the BKMEA president AKM Salim Osman.
The letter stated that if the financial assistance is not given, the export sector may be in extreme trouble over the payment of salary and bonus to the workers before Eid.
Bangladesh Bank has been instructed by the Ministry of Finance and the Comptroller General of Accounts to clear the amount of cash assistance.
Read More: Dip in US market fails to dent apparel sector's growth momentum.
Bangladesh-India relation historic: Pranay Verma
Indian High Commissioner to Bangladesh Pranay Verma has said Bangladesh-India relation is historic and the two counties will move forward if the existing tie is maintained.
“It has been going on since the great war of independence. The bond of the citizens of the two countries is personal. If such tie is maintained as it is now, both countries will move forward in various sectors,” he said.He said this while exchanging views at a meeting at the conference room of the Sonamasjid Land Port at Shibganj with leaders of Chamber of Commerce and Industry, local public representatives, importers and exporters of land ports, C&F agents and revenue officials on Monday.“We are moving forward according to our expectation to improve the relations between the two countries. The prime ministers of the two countries have pledged to continue this. The governments of Bangladesh and India are working to ensure that the two countries can progress futher ,” said the Indian High Commissioner.Chapainawabganj-1 (Shibganj) constituency lawmaker Dr Abul Kalam Azad, among others, was present on the occasion.
Nagad Islamic makes zakat donation easier
Nagad Islamic, a Shariah-compliant mobile financial service, has offered its customers an option to easily donate zakat to low-income groups and those in need through different Islamic and humanitarian organisations.
Using the Nagad Islamic app or its website, customers can easily calculate the exact amount of zakat using the zakat calculator by giving information, such as yearly income, investment, gold, debt, and assets.
Once the zakat amount is calculated, they will have access to the "donation" option in the app and pay the amount to any of the 59 organisations associated with this shariah-compliant platform.
The organisations to which Zakat can be donated include Al-Markazul Islami, Anjuman Mufidul Islam, Center for Zakat Management, As-Sunnah Foundation, Centre for Zakat Management, Tasauf Foundation, Bangladesh Thalassemia Foundation, KK Foundation, MASTUL Foundation, Quantum Foundation, SAJIDA Foundation, Obhizatrik Foundation, Mymensingh Medical College Zakat Fund, Kurmitola General Hospital Kalyan Samity Zakat Fund, and Muslim Aid UK Bangladesh Country Office.
Apart from donating zakat, Nagad Islamic users can also make donations to different charitable foundations throughout the year. They include the Jaago Foundation, Human Aid Bangladesh Foundation, Child Foundation, Amar Bangladesh Foundation, Bangladesh Cancer Aid Trust, Mission Save Bangladesh, Embassy of the State of Palestine in Bangladesh, and It's Humanity Foundation.
Mohammad Aminul Haque, executive director of Nagad and member of Nagad Islamic Shariah Supervisory Committee, said: "We see many people cannot donate zakat and other financial assistance owing to a lack of time and opportunity. That is why Nagad Islamic has come up with a solution for donors, distributors, and beneficiaries."
PRAN-RFL bags 5 nat’l export trophies
Five companies of PRAN-RFL Group have received national export trophies for outstanding contributions in the export segment for FY 2019-20.
Commerce Minister Tipu Munshi handed over the trophies to PRAN-RFL Group at hotel intercontinental in Dhaka on Sunday.
The country’s leading conglomerate earned trophies for exporting agro-processing and plastic goods.
Now, the Government of Bangladesh awarded ‘National Export Trophy’ to PRAN-RFL Group as the highest exporter for the last 19 consecutive years.
PRAN got all awards in agro processing sector. PRAN Dairy Ltd. PRAN Agro Ltd. and Habiganj agro Ltd. obtained gold, silver and bronze trophies, respectively.
Durable Plastic Ltd. and Banga Plastic International Ltd. of RFL Group got silver and bronze trophies respectively in plastic goods sector.
Ahsan Khan Chowdhury, Chair and Chief Executive Officer of PRAN-RFL Group received the gold trophy on behalf of PRAN Dairy while AKM Moinul Islam Moin, Executive Director and Animesh Saha, Executive Director of the group received the award on behalf of PRAN Agro and Habiganj Agro, respectively.
Toukirul Islam, Executive Director of Durable Plastic and Mohammad Kazi Abdul Quiyum, Executive Director of Banga Plastic International received the award on behalf their organizations.
Speakers emphasise safety, security in industries to avert another Rana Plaza tragedy
Speakers in a discussion on Sunday urged the government to enhance monitoring and vigilance in the garment and other industries so that tragedies like Rana Plaza can be avoided.
They said the the government, owner and buyers have responsibilities to ensure a secure environment for workers in the industries that will be secured by the owners’ investment in the industries.
The speaker said this in a discussion on “10 years of Rana Plaza Tragedy: Present Situation of RMG Workers and Way Forward” organised by the 5 labour organisations including Bangladesh Textile and Garment Worker League, United Federation of Garment Workers, Bangladesh Biplobi Garments Worker Federation, Bangladesh Garments and Industrial Workers Federation and National Garment Workers Federation.
Md. Mujibul Haque Chunnu, MP, Chairman of Parliamentary Committee on Labour and Employment Ministry, was the chief guest in the discussion while Winnie Estrup Petersen, Danish Ambassador in Dhaka, and Alexandra Berg Von Linde, Swedish Ambassador in Dhaka, were present as special guests.
Mujibul Haque urged all including labour leaders and owners to work together for the safety of industries and workers.
While the workers remain safe, secured and receive justified payment, the factories would grow by production, he said.
Neeran Ramjuthan, Program Manager Labour Administration and Working Conditions at ILO, said the global labour organisation will continue to support a safe environment for working and rights to the freedom of trade union.
A keynote presentation illustrated the present situation of workers affected in the tragedy of Rana Plaza.
The presentation showed that safety and security of workers have developed significantly in the garments industries after the Rana Plaza tragedy. But the activities of safety are not sustainable due to lack of labour official monitoring.
The victims of the Rana Plaza incident, a number of workers’ leaders, and officials of ILO and EU countries joined in the discussion.