Business
Chinese Company to invest US$ 12 million at Ishwardi EPZ
Chinese company Qinda Outdoor (BD) Limited is going to set up a tent, sleeping bag, and bag manufacturing industry at Ishwardi Export Processing Zone (IEPZ).
The company will invest USD $ 12 million and produce 2 million pieces of tent, canopy, bags, sleeping bags, back Pack, tarpaulins, awnings, sunblinds, Mosquito Net, Portable Folding Chair, Recycle Bin, and Umbrella.
The company will create employment opportunities for 2973 Bangladeshi nationals.
An agreement to this effect was signed between Bangladesh Export Processing Zones Authority (BEPZA) and Qinda Outdoor (BD) Co. Ltd at BEPZA Complex, in the capital on Tuesday, said a BEPZA press release on Wednesday.
Read: BEPZA gives highest priority to workers’ safety, welfare: Law Minister
Ali Reza Mazid, Member (Investment Promotion) of BEPZA, and Zhang Yan, representative of Qinda Outdoor signed the agreement on behalf of their respective organizations.
Executive Chairman of BEPZA Major General Abul Kalam Mohammad Ziaur Rahman witnessed the signing ceremony.
Among others, BEPZA Member (Engineering) Mohammad Faruque Alam, Member (Finance) Nafisa Banu, Executive Directors Md. Zakir Hossain Chowdhury, Nazma Binte Alamgir, Md. Tanvir Hossain and Md. Khorshid Alam was present during the signing ceremony
NRBC gets nod to raise Tk500 crore through bonds
The Bangladesh Securities and Exchange Commission (BSEC) Wednesday approved bonds of NRBC Bank worth Tk500 crore.
The decision came at 840th meeting of the commission held in Dhaka, BSEC Executive Director and spokesperson Mohammad Rezaul Karim told UNB.
NRBC would raise Tk500 crore by issuing non-convertible, unsecured, fully redeemable, floating rate subordinated bonds. The bonds would be issued through private placement.
Read: NRBC Bank conferred with Krishi Padak
The face value of each bond is Tk1 crore, and the coupon rate is 7 to 9 percent.
With the bond proceeds, the lender would strengthen its Tier-2 capital base.
The trustee of the bonds is City Bank Capital Resources, and UCB Investment is the lead arranger, Rezaul said.
FBCCI signs MoU with Greater New York Chamber of Commerce and Industry
FBCCI recently signed an MoU with Greater New York Chamber of Commerce and Industry with a view to facilitating mainstream trade and investment between Bangladesh and USA.
The signing ceremony took place at the seminar titled " 25th September: Bangabandhu's Vision and Bangladeshi Immigrant Day" on Sunday in New York, USA.
President of the two chambers Md. Jashim Uddin and Mark Jeff signed the MoU on behalf of their respective organisations.
FBCCI president Jashim Uddin urged the US Companies to source other products apart of RMG from Bangladesh’s diverse export basket as The USA remained a friend to Bangladesh’s journey to growth and resiliency.
He said that Bangladesh embarked on a new round of reforms to strengthen and modernize the private sector in a bid to unleash the country's potential to drive industrialization, diversified, and export-led growth.
Bangladesh has one of the lowest debt-to-GDP ratios: Finance Minister tells ADB
Finance Minister AHM Mustafa Kamal has said that Bangladesh has one of the lowest debt-to-GDP ratios in the world.
He said Bangladesh has never failed to pay domestic and foreign debt.
Kamal said this while attending the annual meeting at the Asian Development Bank (ADB) headquarters in Manila on Tuesday, according to a press release of the finance ministry.
Read: Market-based foreign exchange rate may be introduced soon: Finance Minister
The finance minister also attended a bilateral meeting with president of ADB, Masatsugu Asakawa.
The finance minister said that currently, the cumulative financing of ADB in Bangladesh stands at $27.6 billion. Out of this, total outstanding amount is $11.69 billion.
Kamal thanked ADB's assistance in developing member countries, including Bangladesh, in recovering from economic and health crises in Asia and the Pacific region by providing quick support for procuring Covid-19 vaccine.
Read: No IMF proposal received to raise power, petroleum prices: Finance Minister
It is very important that the Bangladesh-ADB Country Partnership Strategy (2021-2025) is aligned with Bangladesh's national development goals.
The finance minister expected $12-15 billion in loan support from ADB over the next five years, which is crucial for Bangladesh’s achieving development milestones.
Humayun Rashid re-elected IBFB President
Humayun Rashid, Managing Director and CEO of Energypac Power Generation Ltd, has been re-elected President of the International Business Forum of Bangladesh (IBFB).
The 16th Annual General Meeting (AGM) of the IBFB was held at a city hotel on Tuesday.
MS Siddiqui, CEO of Bangla Chemical and Lutfunnisa Saudia Khan, Director of Banglaphone have been re-elected as the Vice President and Vice President (Finance) of IBFB respectively.
In addition, Kbd. Md. Aminul Islam, Managing Director, Nabil Group, Mohammed Raisul Uddin Saikat, Chairman, Albion Group, SK Md. Waliul Islam, Managing Director, Roots Sourcing International Ltd., Iqbalur Rahman, Proprietor, Multi Trade International, Mohammad Ali Deen, Chairman, M/S Deen Impex, Syed Mustafizur Rahman, Managing Director, Novo Cargo Services Ltd have been elected as Directors for the first time in the Board of Directors of IBFB.
Read: Special economic zone not enough to attract best investors: US Envoy
Vice President (Finance) Lutfunnisa Saudia Khan and President, IBFB Chittagong Chapter SM Abu Tayyab were present in the inaugural session of the AGM.
IBFB Vice President MS Siddiqui and IBFB founding President Mahmudul Islam Chowdhury also spoke in the session.
Ambassador of the United States of America (USA) Peter D Haas and Ambassador and Head of Delegation, European Union to Bangladesh Charles Whiteley were present as the chief guest and special guest respectively in the inaugural session of the AGM.
Bangladesh Bank cuts interest rate of loans under garment industries dev funds
Bangladesh Bank has cut the interest rate for loans from the special fund for development of garment factories from 7 to 5 percent.
Bangladesh Bank is implementing the project titled 'Support for safety reform, remediation and environmental improvement in the garment sector made in Bangladesh' with the support of development agencies and the government. The central bank issued a notification in this regard on Monday.
According to the notification, interest rate of loans under this scheme will be 5 percent, as opposed to 7 percent earlier. The 5 percent interest rate will be applicable on all new and old loans. For this, the banks will get funds from Bangladesh Bank at 2.5 percent interest, which was 3.5 percent earlier. Investment grants will be awarded on a first-come, first-served basis.
This project has been launched with the participation of development partners for the purpose of expanding garment industries, which is the main source of Bangladesh's export income – in the sectors of ensuring firefighting, work environment improvement, workers safety, and above all environment friendly or security strengthening issues.
Read: BB asks banks to cut tax on service value of non-resident nationals
The 6.42 crore euro project has a 5 crore euro loan from development agency AFD, the rest of the money will come from grants from the European Union, KFW, GIZ, and funds from Bangladesh Bank.
So far 17 factories have received Tk 170 crore loans from this fund while distributed as grants of Tk 2.63 Crore.
Bangladesh Bank officials say that the loan interest rate has been reduced to boost the garment sector so that more factories come forward to develop their operations by taking loans from this fund.
Remitters will get Tk 107.5 per dollar instead of Tk 108 from Oct 1
Expatriate Bangladeshis will get maximum Tk 107.5 per US dollar instead of Tk 108, for remittance from October 1, 2022.
Association of Bankers, Bangladesh (ABB) and Bangladesh Foreign Exchange Dealers’ Association (BAFEDA) have set this rate for remittance next month – to stabilize the forex market.
Economists are saying controlling the exchange rate would have negative impact on the current inward remittance flow.
Read: Bangladesh received over $1 billion remittance in Sep 1-15
Economist and Chairman of PRI, Ahsan H Mansur, told UNB that this is not the right decision to attract more remittance when the kerb market rate is over Tk 114 per dollar.
It may encourage sending money through illegal channels, which does not help in resolving the forex crisis, he said.
Professor Mustafizur Rahman, distinguished fellow of CPD, also said that controlling exchange rate is not helpful when market demand for forex is expanding.
Read:Uniform rate: Tk 108/dollar max for remittance, Tk 99/dollar for export income from tomorrow
He said several rates for US dollar will create discrepancies and discourage remittance flow.
The illegal sector will be encouraged while exchange rate difference between banks and kerb market will be widened, Prof. Mustafizur said.
According to the decision of the meeting held on Monday, remitters will get maximum Tk 107.5 per US dollar. Earlier on September 11, ABB and BAFEDA fixed the maximum price of a dollar at Tk 108 for remittance.
Read Explainer: What it means to let taka float
The dollar rate of export income monetization will remain at Tk 99 per dollar as before. In the case of payment of import liabilities and inter-bank transactions, price of dollar will be Tk 1 higher than the average price of a dollar bought from expatriate and export earnings.
At the end of the meeting, BAFEDA Chairman Afzal Karim told the reporters, “There was supposed to be a price review from time to time to keep the dollar market normal.”
“In continuation of this, we have decided the new price. The new price will be effective from October 1,” he said.
Read How to safely send remittance to Bangladesh?
Durga Puja: Nagad offers up to 20% discount on shopping
On the occasion of Durga Puja in 2022, mobile financial services provider Nagad has come up with a cashback or discount of up 20 percent in three categories at over 50 brand outlets.
They will enjoy cashback or discount on Nagad payments in the lifestyle, e-commerce, and restaurant categories, according to a media statement.
Customers may receive up to 20 percent instant cashback in the lifestyle category while shopping from brands such as Baby Shop, Top Ten, Rise, K Kraft, Anjans, Raw Nation, Rang Bangladesh, Bishwa Rang, Sailor, Cat's Eye Limited, and Sara Lifestyle.
Read Mastercard credit card bill payment: Nagad offers up to Tk 400 cashback
They will receive the cashback if they make the payment at selected merchant outlets using Nagad Merchant QR or Nagad Merchant Pay options.
Also, they can enjoy up to 50 percent discount on online shopping while making payment through SSL Gateway. The offer is available at online brands in various categories, including apparel, furniture, and electronics. It will be valid till October 5.
Nagad is also offering up to 20 percent instant cashback on payments at selected sweets and food stores.
Read Durga Puja fervour grips Bangladesh
Besides Durga Puja shopping, customers can enjoy this offer at many restaurants, including Well Food, Classic Sweets, Banglar Sweets, Cake Story, and Banker's Cafe and Restaurant. The cashback or discount offer on Nagad payments will be available till October 30.
USAID Trade Activity publishes Easy Export Series for Bangladeshi agro exporters
The USAID Feed the Future Bangladesh Trade Activity published the Easy Export Series for the Bangladeshi fresh fruit and vegetable, frozen foods, and processed food exporters to understand compliance with international food safety standards.
On Monday, the Trade Activity launched the first of the series, ‘Food safety guidelines for exporting fresh fruits and vegetables to Europe’ at the Metropolitan Chamber of Commerce and Industry in the capital.
AHM Ahsan, Vice Chairman, Export Promotion Bureau was the Chief Guest of the ceremony where Dr Syed Md Rafiqul Amin, Director, Plant Quarantine Wing, Department of Agricultural Extension, and Professor Abu Noman Faruq Ahmmed, Chairman, Department of, Plant Pathology, Sher-e-Bangla Agricultural University were the special guests.
The event was chaired by Mashuk Al Hossain, Deputy Chief of Party, Feed the Future Bangladesh Trade Activity.
According to the Trade Activity officials, the Easy Export Series will be released quarterly, with the first module addressing Bangladesh’s regulatory requirements for exporting fresh fruits and vegetables; the second module will address the EU’s food safety requirements for the import of fresh fruits and vegetables.
The third module will address international food safety requirements for food processors in GCC countries, and the fourth module will tackle the food chain traceability system.
The USAID Feed the Future Bangladesh Trade Activity supports the Government of Bangladesh in bolstering economic growth and food security by improving trade facilitation, enhancing market access, and improving the business-enabling market.
The Activity provides technical assistance, training, institutional strengthening, and other direct support to the Government of Bangladesh and non-governmental partners. It also promotes greater collaboration among the government, private sector, and civil society organizations.
Interview Anxiety: How to calm your nerves and avoid stress
Regardless of the level of education and professional knowledge, interviews are stressful experiences for most job seekers. Stressed candidates often discover that they cannot articulate their responses to the interview questions properly despite having extensive knowledge or training. Though advanced preparation can make you confident, some tips can help you overcome interview anxieties.
Reasons behind Severe Interview Anxiety
Humans have ventured their way up from a lowly dull-headed origin to the pinnacle of civilization. But when people strip away their sophisticated technology and trendy clothing, they reveal a fragile, insecure creature that still lies dormant beneath. These creatures are still driven by crude animal instincts that determine how they behave.
When considering stressful circumstances, giving in to those impulses is tempting and allowing them to run the show. A job interview may bring forth the most robust stream of emotions, throwing the most level-headed people off balance.
Read Best Job Searching Websites in Bangladesh
It is the brain's approach to strengthening the body for defense against unexpected occurrences. The adrenaline produced by the nerve raises the body's blood pressure. While preparing for an uncertain event, this might seem like nervousness.
Feelings of uncertainty, self-doubt, worry and fear might leave you with the impression that you will botch the whole situation. Knowing the fundamental reasons your nerves take over enables you to regain control and use your nerves as positive and productive energy. The trick to easing your pre-interview anxiety is approaching the interview with a confident attitude.
Practical Interview Anxiety Tips to Deal with the Fear of Interviews
Prepare Yourself for the Worst-Case Scenario
Whatever your scariest fear is, there must be a solution.
Before the interview, silly fears might appear in your mind, such as, "do I have lettuce in your teeth?" To avoid such stress, you can carry a tiny mirror and dental floss in your bag.
Read Considering a Career Change? 10 Questions to Ask Yourself
Are you afraid of not having a solid answer to a challenging question? It can happen to anybody. Learn how to conceal your discomfort and reply smartly when you do not know the answer.
By planning, you can be confident that even if the worst-case scenario occurs, you are more than equipped to manage it.
Be More Organized
Studying is pointless if you arrive too late to take the exam. Therefore, one of the most straightforward and efficient strategies to reduce anxiety is to be organized.
Read Perfect Resume: 12 Effective Tips for writing a professional CV
Being organized means doing some necessary actions to ensure that your interview goes successfully. These actions include preparing your suitcase or certificate file, arranging your attire for attaining the interview, knowing your precise route to the interview place, obtaining sufficient sleep the night before, getting up early on the interview day, eating a decent meal, and reaching the place on time.
Rehearse Yourself
Find a place in your home or room, where you won't be disturbed by anybody. Now, conduct an interview with yourself. While rehearsing for the interview, you may come across subjects or questions you can’t remember. In this situation, don’t get anxious, keep notes and study later. Thus, with the cooperation of your physical self, you can get mentally prepared for an interview.
If the area where you practice includes a mirror, then stand in front of it to notice your own expressions. Try to notice your facial expressions carefully in order to identify any expressions that are out of place. Some expressions might give the interviewer the impression that you are not maintaining your composure.
Read Effective tips for hunting jobs during pandemic
Eat Properly
You can hardly provide convincing replies during an interview with an empty stomach. Therefore, make sure you have eaten properly before attaining the interview.
A good meal is a perfect way to kick off a successful interview. It would be wise to choose the healthier options, which are often high in antioxidants known to enhance energy levels. However, some people may indulge in their favorite comfort foods.
All that matters is finding one that works for you. Try to avoid oily and spicy foods. Avoid drinking too much water or beverages before entering the interview room.
Read How to be a Confident English Speaker?
Train Your Mind to Handle Stress
Not all aspects of human nerves are negative. The spike of adrenaline you experience when you are frightened before a job interview might assist you in being aware and engaged throughout the process.
When you feel nervous during or before an interview, you should tell yourself that you are excited rather than telling yourself that you need to calm down. This is because telling yourself that you must calm down only worsens your nerves. Try to channel all that extra adrenaline towards getting you excited and bringing out your passion for the character you're playing.
Watch Your Body Language
You may display more tension than you would want to express during a job interview. Now, how to prevent it?
Read How to ace a Job Interview?
It is essential to ensure that you will be able to finish the interview without unnatural movement. Try to convey an impression of self-assurance and vitality by sitting in a way that is both comfortable and attentive.
During the interview, it is not acceptable to sit in a reclined position, nor should you perch on the edge of your seat. Instead, it would be the most effective if you work toward striking a balance between the two places by maintaining an upright and engaged posture while avoiding the appearance of being flighty.
Conclusion
The people conducting the interview are aware that job seekers stay nervous during the interviews. Still, you need to learn to minimize interview stress. Severe anxieties during the interview can hamper your power of thinking clearly and make you forget many known answers. To avoid such situations, prepare your mind, body, and nerves to handle the stress.
Read Psychometric Tests in Recruitment: How to prepare for it
So far, we have discussed some efficient and practical tips to handle your pre-interview anxiety and stay calm during the interview session. Hope it helps!