Business
Lalamove launches operations in Bangladesh
Lalamove, one of the on-demand delivery platforms, has launched its operations in Bangladesh.
“Approaching our ninth anniversary in October, we are pleased to have arrived in Bangladesh,” said Paul Loo, Chief Operating Officer at Lalamove on Thursday.
The COO said their tech-driven on-demand delivery services have contributed greatly to the way businesses improve operational efficiency.
Read Product Shipping: Tips to find the perfect delivery partner for online business
“In the past two years, our platform has witnessed an impressive 160% increase in total users and doubled the number of the cities we operate in to benefit more users and bring value to local economies.”
Loo said they see promising growth potential and opportunities from Bangladesh and the country’s impressive economic growth is creating abundant opportunities for local small businesses which are the backbone of the economy.
“With our mission in supporting SMEs and our experience empowering businesses globally, we look forward to replicating the same success we have achieved across the region and create the same benefits for communities in Bangladesh. We hope to be celebrating more milestones in South Asia in the near future,” Loo added.
Read The Emerging Logistics Tech Startups, Courier, Delivery Services in Bangladesh
Since its inception in Hong Kong in 2013, Lalamove has been “unceasingly creating” value for its 10 million users and 1.8 million driver partners across more than 30 cities in Asia and Latin America.
AIBL organizes seminar marking National Mourning Day
Al-Arafah Islami Bank Limited (AIBL) on Tuesday organized a seminar titled 'Bangabandhu and Bangladesh' marking the 47th Death Anniversary of Father of the Nation Bangabandhu Sheikh Mujibur Rahman.
The event was presided by Managing Director and CEO Farman R. Chowdhury while Director Kh. Mesbah Uddin Ahmed was present, according to a press release.
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Chairman of the Bank Alhajj Salim Rahman was present as the chief guest on the occasion.
Former Vice-Chancellor of Dhaka University AAMS Arefin Siddique discussed as key speaker on the occasion.
Among others, Deputy Managing Directors and Senior Executives of the Bank participated in the seminar.
Trendy textiles invest $39 million in Dhaka EPZ
Bangladeshi company trendy textiles limited will invest USD $39 million to establish a knit composite textile industry in Dhaka EPZ.
The company will produce annually 15 million pieces of T-Shirt, Tank-Top, Polo-Shirt, Sweatshirt, Cotton-CVC Fleece jackets, Trousers, Hoody jackets, Fancy Ladies-Children Wear, and sportswear.
The company has signed an agreement to reopen a closed factory of Dhaka EPZ.
Read: BEPZA EZ gets $28m more in investment
The trendy textiles will create jobs opportunity for 2993 Bangladeshi nationals.
Ali Reza Mazid, Member (Investment Promotion) of BEPZA and Nafees Muntasir Khan, Managing Director of Trendy Textiles Limited signed an agreement to this effect on behalf of their respective organizations on Tuesday.
BEPZA Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman, witnessed the agreement signing ceremony.
Read Chinese company to invest $ 12.89 million in Mongla EPZ
Members (Engineering) Mohammad Faruque Alam, Nafisa Banu (Finance) executive directors Nazma Binte Alamgir, Md. Tanvir Hossain and Md. Khorshid Alam, among other, were present at the function.
Soybean oil prices hiked by Tk 7 per litre in Bangladesh
Amid inflation woes, the Bangladesh government has raised the prices of soybean oil by Tk 7 per litre.
Bottled soybean oil will now be available at Tk 192 per litre instead of the earlier Tk 185. Similarly, loose soybean oil will be retailed at Tk 175 per litre while a five-litre bottle of the commodity will cost Tk 945.
This is according to a notification issued by the Bangladesh Vegetable Oil Refiners and Bonaspati Manufacturers Association.
Also read: Importers press for soybean price hike by Tk 20 per litre
According to the notification signed by Nurul Islam Molla, the executive officer of the association, the new prices will be effective from Tuesday.
The decision to increase the soyabean oil prices was taken after discussions with the country's Trade and Tariff Commission and the Ministry of Commerce on August 17.
The association sought a 20 percent price hike at the meeting.
Also read: TCB to procure 125 lakh litres soybean oil, 5000 kg lentil from 7 local suppliers
Similarly, the prices of one litre of loose palm oil has been fixed at Tk 145.
The edible oil marketing companies cut the prices of soybean and palm oil on July 17, adjusting the costs in line with global market rates.
According to Bangladesh Bank data, in the fiscal year 2021-22, about 5.15 lakh tonnes of crude soybean oil were imported into the country -- about 75,000 tonnes more than the previous year.
Read US companies encouraged for oil, gas exploration in Bangladesh's offshore
However, during the same period, the import of soybean seeds was 13.31 lakh tonnes, about 2.37 lakh tonnes more than the previous year. The import of refined soybean oil in the fiscal year 2021-22 was a little over 15,000 tonnes.
No refined soybean oil was imported during the previous financial year. In the fiscal year 2021-22, about one million tonnes of refined and non-refined palm oil were imported.
IBBL Bogura holds Shariah compliance webinar
Islami Bank Bangladesh Limited (IBBL) Bogura recently organised the webinar "Compliance of Shari'ah in Banking Operations."
Md Khurshid-Ul-Alam, director of IBBL, spoke at the webinar as chief guest Saturday.
Md Omar Faruk Khan, additional managing director, addressed the programme as a special guest.
Md Ruhul Amin Rabbani, a member of the Shariah supervisory committee of the bank, was the key speaker at the webinar.
Read: Nagad launches Tk10 mobile phone airtime recharge offer
Md Shamsuddoha, head of the Shariah secretariat, also spoke.
Md Rezaul Islam, head of Bogura Zone, and Md Khalequzzaman, head of Gobindaganj, were also present.
IBBL is a joint venture public limited company engaged in commercial banking business based on Islamic Shariah. It is listed on the Dhaka Stock Exchange and Chittagong Stock Exchange.
Nagad launches Tk10 mobile phone airtime recharge offer
Mobile financial services (MFS) provider Nagad Monday launched a Tk10 recharge offer.
Under the campaign, customers who did not recharge their mobile phone airtime after December 31, 2021, will receive a cashback of Tk10 on a Tk20 recharge or 1GB of internet at Tk10 to their numbers linked to their Nagad wallets.
Nagad customers can enjoy this cashback offer by recharging mobile phone airtime through the Nagad app or USSD (*167#).
Read Tap offers up to 71% cashback on mobile recharge
However, they can avail of this offer only once and it is only valid on the prepaid or postpaid phone numbers connected with the customers' Nagad account.
Under the 1GB at Tk10 internet offer, customers of Grameenphone, Robi and Airtel will get Tk28 cashback on Tk38 recharge.
Customers of Banglalink will receive Tk21 cashback on Tk31 recharge and Teletalk customers will receive Tk17 cashback on Tk27 recharge.
Read: Nagad scoops Creative Communication Award 2022
"Offers such as Tk10 cashback on Tk20 recharge and 1GB internet for Tk10 will make mobile recharging much more affordable and useful for the commoners amid commodity price hike," Sheikh Aminur Rahman, chief business officer of Nagad, said in a media statement.
BB seeks to salvage 10 weak banks, start talks
Bangladesh Bank (BB) has opened talks with the managing directors and the chief financial officers of 10 banks to try to finalise deals to save them from collapsing.
The move got underway after the central bank’s inspection found severe irregularities, huge defaulted loans, liquidity shortage, mismanagement and distortion of funds. The central bank inspectors in their report alerted the authorities about the collapsing banks.
BB's new governor Abdur Rouf Talukder has initiated save-the-banks move for the greater interest of domestic economy, sources said adding, a deputy governor has been tasked to complete deals with the banks for 3-5 years.
Also read: The dancing dollar and the Bangladesh Bank
The discussions are being held in line of the central bank’s policy, said BB officials. After the discussion the BB will sign separate memorandum of understanding (MoU) with these banks.
The BB will keep these banks under direct monitoring with an action based plan and giving an interim time to come out from the crisis.
The central bank identified the weak banks on the basis of four indicators—level of non-performing loans, capital adequacy, loan-to-deposit ratio, and provisioning. The progress of each bank will be monitored by a senior official of BB as per the agreements’.
Also read: BB sets cost ceiling for short-term trade finance in forex
Earlier, the BB has signed MoUs with state-owned Sonali, Agrani, Janata, Rupali, BASIC, Specialized Bangladesh Agricultural Bank (BKB), and Rajshahi Agricultural Development Bank (RAKAB).
Despite this, the condition of the banks is not improving as expected. In such a situation, new agreements are being made with 10 more banks.
Tap offers bonus data, cashback on Robi, Airtel internet packages
Mobile financial service (MFS) provider Trust Axiata Pay (Tap) has come up with cashback and bonus data offers for its customers on the purchase of Robi and Airtel internet packages and bundles.
The cashback campaign offer will continue till August 31.
Tap users will get 18GB instead of Airtel's regular 14GB internet package of Tk129 for seven days, and a cashback of Tk9.
Read: IBBL Barishal holds Shariah compliance webinar
They will get an extra 2GB of data with an 800MB regular internet package for three days at Tk32 with a cashback of Tk3.
The Tap 5GB and 150-minute bundle can be availed instead of the previous regular bundle offer of 2GB and 100-minute for three days at Tk158.
Customers can get an extra 500MB of data if they buy a 1.5GB package of Robi for three days for Tk57 – the total internet package will be 2GB and there will be a cashback of Tk4.
Read BTRC launches new unlimited data packages
Upon purchasing a 2GB and 25-minute bundle for seven days at Tk98, they will get 500MB of internet and 50-minute talk time and a cashback of Tk6.
IBBL Barishal holds Shariah compliance webinar
Islami Bank Bangladesh Limited (IBBL) Barishal organised the webinar "Compliance of Shari'ah in Banking Operations" Saturday.
Md Joynal Abedin, director of IBBL, spoke at the webinar as chief guest.
Muhammad Qaisar Ali, additional managing director, addressed the programme as a special guest.
Muhammad Saifullah, a member of the Shariah supervisory committee of the bank, was the key speaker at the webinar.
Read: RFL holds dealers' conference in UAE
Md Shamsuddoha, executive vice-president of the Shariah secretariat, also spoke.
Abdus Sobhan, head of Barishal zone, and Md Nuruzzaman, head of Barishal branch, were also present.
IBBL is a joint venture public limited company engaged in commercial banking business based on Islamic Shariah. It is listed on the Dhaka Stock Exchange and Chittagong Stock Exchange.
Using 5-Hour Rule for Career Success, Personal Growth
A daily commitment to learning or practicing new abilities may have a beneficial impact on one's life and career. For instance, the 5-hour rule can help you to enhance your knowledge base and skill set regardless of your profession. Implementation of this concept may be crucial to your personal and professional growth. This article explains how to use five-hour rule for personal improvement and career advancement.
What is The Five-Hour Rule?
The 5-hour rule is the notion of devoting at least one hour every weekday to intentionally learning and practicing new skills. This may help you acquire new skills and information, leading to both personal and professional growth. It may also help you maintain your knowledge of certain topics.
The notion is that committing one hour every day to study strengthens the mind, enhances one's abilities, and cultivates tremendous discipline. In terms of education, the 5-hour rule provides us with both information and skills.
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How Did Famous Person Apply 5-Hour Rule in Their Life
Imagine if you could ensure your ultimate professional success with as little as one hour of daily commitment. For many of the world's most powerful leaders, the five-hour rule is their hidden weapon.
The notion was introduced by Benjamin Franklin in the 18th century, with the goal of enhancing his knowledge with one hour of daily serious study. The American polymath also devoted time to self-improvement via reflection and experimentation.
Daily reading time for self-made billionaires such as Mark Cuban and Dan Gilbert, owner of the Cleveland Cavaliers, ranges from one to three hours. Reading taught Elon Musk how to construct rockets, which led to the formation of SpaceX.
Read How to Set Personal Goals in Midlife to Live Your Best Days
In addition to broadening your knowledge, Jack Ma, co-founder of Alibaba, asserts that reading may give people a great head start; this is frequently something that others cannot attain. In comparison to others, readers are more likely to be familiar with the strategies and methods of other sectors.
Reading was not just responsible for President Obama's achievement, but it was also responsible for the success of many other world leaders. Some of the most successful people in the world, including Bill Gates, Warren Buffett, Oprah Winfrey, Elon Musk, Mark Cuban, and Jack Ma, are avid readers.
Reading, as described by Bill Gates in an interview with The New York Times, is "one of the primary ways that I learn, and has been since I was a youngster."
Read Grooming Tips for Professionals: Show up gracefully at the workplace
Ways to Implement the Five-Hour Rule for Gaining Success in Career
Choose Your Hours
You may begin implementing the 5-hour rule by choosing a convenient time of day to devote an hour to studying, thinking, or exploring. This may depend on your schedule, your peak hours of production, or any other schedule-affecting circumstances.
Invest at least One Hour Every Single Day
Devote one hour per day or five hours per week to study or practice. It's that easy. While employment often consumes most of one's day, Benjamin Franklin would carve off an hour in the morning before the day started.
You may listen to audiobooks or read while traveling to work or find 30 minutes at the beginning and end of each day to devote to learning. These snippets of time will nurture more knowledge over time.
Read How to Create Perfect First Impressions to Succeed in Career, Business, Relationships?
Reflect Upon Yourself
If you can preserve at least five-hour each week for self development, you can also use it for thinking, planning, and writing. After setting aside time for contemplation, the next step is to determine what to reflect on and how to do it. Writing your ideas and thoughts in different formats, such as essays or a diary, is the most typical method.
Make Some Time for Reading
If Barack Obama could find an hour every day to read in the White House, then anyone is capable of devoting time to reading. The leaders mostly spend the majority of their time reading non-fiction books, biographies, and news articles, and relatively little time reading works of fiction. Depending on your personal choice you can pick your niche for learning a new topic or skill.
Venture through Different Topics
You may use a portion of your five weekly hours to consider what you should study and experiment with. Although it is normally recommended to spend the most of these five hours studying areas directly related to your career, learning about entirely new subjects may help broaden your perspective and introduce you to fresh ideas.
Read Goldilock Rule: How to stay motivated, take challenges in life, career, business
Experiment
Experimentation is the natural next step if you have become a magnet for information and have systems in place to think through errors and obstacles.
experimentation and testing are crucial to the five-hour rule since they reveal what is and is not working. Five hour rule may not be effective for every person in the same way. As every human is different, their way of learning can vary. You can try for days and weeks to find the most effective reading hour in the day.
Develop Learning Skill
You may obtain new talents that you can subsequently use to your personal or professional growth. But it can be possible only if you constantly consume fresh knowledge.
Read Investing in Yourself: 10 Best Ways of Investment for Self-Betterment
The five-hour rule can give you the opportunity to build a habit of learning new things in a systematic way. Even the busy professionals, and working parents can try this rule by making a few adjustments in their hectic schedules.
Be Consistent
Sometimes, reading an article about personal development, people get excited and practice a rule for several days. But after a week or two they return to their previous lifestyles and habits. The 5-hour rule can only provide favorable benefits with constant practice over an extended time.
Read Self-Accountability: How to Develop Personal Accountability in Life
It implies that you must have the self-discipline to reject temptations to use that time in ways that may not be as beneficial to your long-term growth.
Improve Life
Using the five-hour rule on a regular basis you can expand your knowledge in diverse fields beyond professional knowledge. For example, you can learn about home improvement, cooking, parenting, etc. Being aware of a broad range of topics and possessing a diversified set of skills may aid you in talks and help you gain confidence.
Conclusion
The primary idea of the 5-hour rule is that spending at least five hours each week intentionally for learning anything new may have exponential long-term advantages, regardless of one's level of achievement or expertise. If consistently maintained, this one habit can change your career proficiency on a broader level. So far we have discussed how to use the 5-hour rule for personal development and professional success.
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