Business
BBS Survey: Life expectancy in Bangladesh drops to 72.3 yrs
The average life expectancy and birth rate in the country have declined in a span of a year.
Bangladesh Bureau of Statistics (BBS) revealed this on Sunday in a report titled ‘Bangladesh Sample Vital Statistics-2023’.
According to the BBS report, life expectancy at birth in 2023 has decreased statistically, to 72.3 years, which was 72.4 years in 2022.
On the other hand, the population growth rate has decreased in a span of a year. The general growth rate of the population in 2023 is 1.33 percent which was 1.40 percent in 2022.
'Joyee 360': IPDC launches sub-branch in Dhaka’s Mirpur for women entrepreneurs
The BBS survey revealed that among the top ten causes of death, the first cause of death is cardiac arrest at 1.027 percent and the second cause at 0.64 percent was cerebral brain hemorrhage.
The average age at first marriage for men is 24.2 years and for women 18.4 years.
In terms of internal migration, the rural arrival rate is 20.4 and the urban arrival rate is 43.4 per thousand population.
In addition, the number of young populations not in education, work or training decreased to 39.88 percent in 2023 compared to 40.67 percent in 2022.
The mobile phone user population aged 5 plus increased to 59.9 percent in 2023. However, for 15plus-year-olds, the rate has slightly increased to 74.2 percent compared to 73.8 percent in 2022. 50.1% of Internet users aged 15 plus in 2023.
The sex ratio is slightly downward in 2023 standing at 96.37 percent, and the dependency ratio is 53.73 percent. The population density is 1,179 persons per square kilometer. The gross birth rate per thousand population was 19.4 in 2023, which was 19.8 in 2022.
At that time (2023), the obesity mortality rate per thousand population was 6.1, which was 5.8 in 2022. The under-five mortality rate is 33 per thousand and the maternal mortality ratio is 136 per 100,000 live births, compared to 153 in 2022.
Bangladesh among 30 countries with the highest purchasing power parity in the world
The number of birth control users in 2023 decreased slightly to 62.1 percent in 2023 compared to 63.3 percent in 2022. Unmet demand for birth control decreased to 15.57 percent in 2023 compared to 16.62 percent in 2022.
Household size remained unchanged in 2023 as in 2022 at 4.2. However, the rate of female household heads increased in 2023 compared to 2022. It was 17.4 percent in 2022, which increased to 18.9 percent in 2023. On the other hand, male household head was 82.6 percent in 2022, the rate decreased to 81.17 percent in 2023.
'Joyee 360': IPDC launches sub-branch in Dhaka’s Mirpur for women entrepreneurs
IPDC Finance has launched a specialised sub-branch, 'Joyee 360', in Mirpur, Dhaka, focusing on the 'Joyee' service for women entrepreneurs.
IPDC has started the operations of this sub-branch to accelerate women entrepreneurs’ contribution to the economic development of the country.
'Joyee’ is a loan service of IPDC that started in 2018 to support the expansion of business activities of women entrepreneurs.
This time, IPDC has launched the sub-branch adding more facilities to the 'Joyee' loan service.
A special meeting space called 'Joyee Alapan' has been arranged in the sub-branch 'Joyee 360'. 'Joyee' customers can conduct their business meetings there.
Apart from this, there is a special program called 'Joyee Pathshala' to conduct regular workshops and training on initiatives. All services including other regular products of IPDC such as deposits, home loans, and auto loans will be available at this sub-branch.
How to Answer “Why Did You Choose this Job?” Effectively
One of the most common questions in any job interview is “Why did you choose/apply for this job?” As an interviewee, it can throw you off-guard if you didn’t prepare beforehand. It's important to be strategic while answering this question as it can be a make-or-break situation when it comes to securing the job. Here’s how you should go about it.
Why Do Recruiters Ask “Why Did You Choose this Job?”
The two main reasons why recruiters ask this question are your motivation and organizational fit. Recruiters want to know whether you are motivated enough for the specific role. They also want to understand whether your ideas and values align with the organization's.
The question also allows them to assess your long-term career goals, skills, and preparedness for the position. It provides an insight into your character, vision, and suitability for the organization in the long run.
Read more: How to Make a Video Resume: A Step-by-Step Guide
How Do You Justify the Choice?
Now, if you’re in an interview and asked this question, you will need to justify why you chose or applied for the job. It's granted that you cannot say stuff like you like the salary or the designation. While these certainly can be motivating factors, recruiters want to know the in-job aspects that interest you or align with your skills and aspirations. Keep the following points in mind while justifying your choice.
- Highlight your research on the company and the position - Show opportunities for growth - Highlight your potential impact and contribution to the organization - Personal connection - Show eagerness, enthusiasm, and commitment to the role.
Read more: What to Wear for a Job Interview
1st BMCCI Biztalk on “Achievement Through People in Digital Era”
Bangladesh-Malaysia Chamber of Commerce and Industry organised the 1st Biztalk at the BMCCI secretariat recently.
The title of the first-of-its-kind event is “Achievement Through People in the Digital Era”
Renowned corporate leader Mr. Mahtab Uddin Ahmed, Managing Director, BuildCon Consultancies Ltd.; Director, Bangladesh Finance Ltd. & Former CEO/Managing Director, Robi Axiata Limited talked elaborately on the topics, reads a press release.
BMCCI President Mr. Shabbir A Khan welcomed the participants and introduced the speaker to them.
‘This event is organized for those who are passionate about networking opportunities with business professionals, sharing knowledge and insights on relevant industry topics, promoting business growth and development, and enhancing the overall business environment within the community.’ he said.
In his presentation, Mr. Mahtab Uddin Ahmed shared his experience and knowledge and mentioned in front of full house attendance how our business environment came over with a changing trend in today's digital era, where technology plays a pivotal role in business operations, success is not solely dependent on technological advancements but also the skills, capabilities, and contributions of individuals. The participants got to know about the current trends in business, best practices, and strategies to help businesses succeed in the marketplace, and technical know-how which is relatable to doing business in Bangladesh.
The session with the full house was very interactive and the participants marked the BizTalk as an eye-opening and far-reaching initiative of the chamber.
Barrister Sumaiya Noor Chowdhry coordinated the whole event for which the President thanked her on behalf of the board and hoped that she would continue to contribute to these events in the coming days as well.
At the end of the program, BMCCI President Mr. Shabbir A Khan and Mr. Mahtab Uddin Ahmed distributed the certificates among the participants for their active participation in the seminar.
UCB organises day-long skill development training for agricultural entrepreneurs in Kushtia
United Commercial Bank PLC (UCB) has recently provided training to about 200 selected Agri-entrepreneurs hailing from 6 upazilas of Kushtia district.
Additional Managing Director and Company Secretary of United Commercial Bank PLC ATM Tahmiduzzaman was the chief guest at the opening ceremony of the day-long training at the auditorium of District Shilpakala Academy.
Among others, Rezaul Karim Siddique, popular presenter of BTV’s agriculture-based show ‘Mati O Manush’ & a renowned agricultural analyst; Md. Tipu Sultan, Additional Deputy Director of the Department of Agricultural Extension, Kushtia region; District Veterinary Surgeon Dr. Kishore Kumar Kundu; Senior Upazila Fisheries Officer Md. Sharif Hasan Sohag; Head of SME and Agri Banking Division of UCB, Md. Mohsinur Rahman; and Regional Head Md. Mullah Masood Parvez delivered speeches at the training program. Branch manager of UCB Sharif Hossain gave a welcome speech.
ATM Tahmiduzzaman said, “We have appeared at the doorstep of marginal farmers with the aim of developing commercial agriculture and ensuring food security for the country”.
“We named our project ‘Bhoroshar Notun Janala’. Because we want to instill confidence in the minds of marginal farmers. We want to stand by the farmers”, he added.
Rezaul Karim Siddique, presenter of BTV’s agriculture-based show ‘Mati O Manush’ & a renowned agricultural analyst, said, “If you want to advance the country economically, there is no alternative to creating agricultural entrepreneurs”.
As per the directives of Bangladesh Bank, UCB is implementing a special project called ‘Bhoroshar Notun Janala’ to extend support to those involved in the agricultural sector as part of its social responsibility.
Under this project, training is being organised with selected agricultural entrepreneurs from each upazila in 64 districts of the country. Already this training has been organised in 45 districts.
In the trainings, lessons and ideas are given to the agri-entrepreneurs about what to do to develop as an entrepreneur, business planning, information gathering, capital, marketing strategies and government agricultural incentive support.
At the end of the program, the participants were given high-quality vegetable seeds, fertilizers and other agricultural products as gifts by the UCB, said the bank.
Bangladesh among 30 countries with the highest purchasing power parity in the world
Bangladesh has ranked 26th among 30 countries with the highest Purchasing Power Parity (PPP) in the World.
According to finance website, Insider Monkey, Bangladesh has a per capita GDP of $9.41 thousand based on purchasing power parity. In 2021, the country's GDP was little more than $1 trillion. In three years, it has risen to $1.6 trillion, making Bangladesh one of the world's fastest-growing economies today. GDP (PPP): $1,573,205,815,650, as per Insider Monkey.
People’s purchasing capacity has increased, says state minister Shafiqur
Top 10 countries with the highest purchasing power parity in the world:
1 China
GDP (PPP): $35,102,468,294,640
2. United States
GDP (PPP): $28,212,584,701,080
3. India
GDP (PPP): $13,837,886,095,650
4. Japan
GDP (PPP): $6,693,210,775,800
5. Germany
GDP (PPP): $5,737,921,135,920
6. Russia
GDP (PPP): $5,180,512,624,880
7. Indonesia
GDP (PPP): $4,706,381,666,640
8. Brazil
GDP (PPP): $4,533,438,662,610
9. France
GDP (PPP): $4,161,339,481,020
10. United Kingdom
GDP (PPP): $3,967,703,923,320
Govt's main task is to tame price hike and boost people's purchasing power: PM Hasina at Tungipara
What is PPP?
Purchasing Power Parity (PPP) is a macroeconomic concept used to compare the relative value of currencies between different countries. Value refers to how much purchasing a currency can do compared to different countries. So, to find that out, economists apply PPP, which is the exchange rate at which one country’s currency would be converted into another to purchase an identical basket of goods and services. The PPP metric is usually used to measure economic productivity and standards of living between countries, according to Insider Monkey.
In other words, utilising purchasing power parity, GDP is translated to a common baseline currency (international dollars), allowing for more realistic comparisons of nations and their worldwide positions.
Tackling inflation to protect people’s purchasing power key challenge: DCCI
Methodology
For its list of the ‘30 Countries with the Highest Purchasing Power Parity in the World’, Insider Monkey calculated the PPP using the GDP per capita by PPP of the 50 top countries with the largest economies in the world and their population. It then shortlisted the top 30 and compiled the list in ascending order. The base data for GDP per capita and population has been sourced from the International Monetary Fund and the CIA’s database and is accurate to 2024, the finance website said.
Premortem Analysis: How to Anticipate Failure
We’ve all heard of postmortem. It’s usually associated with homicide which gives the word its grim aura. But what about premortem? Before getting into it, let’s think of the times you’ve failed in life. How many times have you thought that if you had done things differently, the outcome could’ve been different? It is something that applies to every sphere of life, be it personal, social, career, or business. That’s where premortem analysis comes in.
What is Premortem Analysis?
Growing up, we’ve all heard “Prevention is better than cure”. It essentially signifies that it is important to identify and consider potential failures before doing something as it reduces the chance of failure.
Premortem analysis is a strategic planning technique used to identify potential risks and pitfalls in a project, decision, or course of action before it is implemented. It is the opposite of postmortem analysis which works to understand what went wrong after the conclusion of a project.
Read more: What is Your Desired Salary? How to Answer Recruitment’s Trickiest Question
Ways to Anticipate Failure by Premortem Analysis
It's easy to look back and see what went wrong in the process. But the same isn’t true when it comes to anticipating failure. It requires rigorous work with precedence, potential scenarios, and alternatives to assess the risk level and ways to mitigate it.
To better illustrate the steps of premortem analysis, let us consider a retail company called Terry’s Grocery. Terry’s Grocery wants to open a new location in a new city. Here’s what an ideal premortem analysis of the store would look like.
Prices of meat, chicken and egg rise on Friday
The prices of meat, chicken, and egg are in upward trends while prices of vegetables, potato and onion decreased in the kitchen market of the capital on Friday.
Visiting different kitchen markets including Karwan Bazar, Mohakhai, Rampura, and Malibagh, the correspondent observed that prices of beef and chicken increased by Tk 20 to 50 per kg in the capital.
Beef selling between Tk 700 to 800 per kg on Friday saw an increase by Tk 50 per kg than other days of the last week. Mutton and goat meat were selling at Tk1050 to 1150 per kg, which saw an increase of Tk 50 per kg.
The price of broiler chicken has also increased, it was being sold at Tk 230 per kg, which was selling between Tk190-200 3 days ago. Apart from this, the price of Sonali chicken has also increased and is now being sold at Tk 340 per kg.
Similarly, cock chicken is being sold at Tk 360 to 370 per kg, layer chicken at Tk 300 per kg, and indigenous (desi) chicken at Tk 650 to Tk 700 per kg.
The traders of the sector said that prices of chicken increased due to price hikes of chicken food and broiler chicks.
The prices of almost all vegetables decreased, but prices of newly arrived seasonal vegetables like drum sticks, string beans, and bitter gourd are higher and selling between Tk 100 to 180 per kg based on quality.
Vegetables like brinjal and others were selling between Tk 40 to 50 per kg, bottle gourd, ash gourd, and cauliflower at Tk 40 to 60 per piece.
Onion is selling between Tk40 to 60 per kg, garlic Tk180 to 250, and ginger at Tk200 to 280 per kg based on quality.
Egg prices increased by Tk 5 to 10 per dozen and was selling a dozen brown egg at Tk145, egg duck at Tk70 per hali (four piece), and egg of home-rearing hens sold at Tk80 per hali (four pieces).
The prices of other kitchen items remained unchanged this week.
‘Design Thinking for Digital Enterprise’ showcases the paradigm shift for banks to make Bangladesh truly digital
Intellect Design Arena Ltd, a cloud-native, future-ready, new-gen multi-product FinTech company for the world's leading financial and insurance institutions, hosted a thought leadership event, ‘Design Thinking for Digital Enterprise’, exclusively for the technology-suave bankers in Bangladesh.
The event is held along with Sonali Intellect Limited, a leading financial technology company in Bangladesh and Intellect’s Joint Venture in the nation. The event was held at hotel Intercontinental in Dhaka.
The event brought together over 50 top leaders from the Bangladesh banking sector, who deliberated that the Digital Enterprise transformation signifies more than just migrating processes to the cloud or creating mobile-friendly interfaces.
The forum discussed the journey towards a Digital Enterprise for banks, starting with technology. The thought leaders discussed holistic redesign in the panel discussion, ensuring that all operations are easily accessible on various devices and centralised platforms.
No infrastructure can be constructed in forests: Saber Hossain
Bangladesh's banking and insurance industry sector will play a significant role in the Smart Bangladesh Vision 2041 - creating a futuristic country. Bangladesh ranks as the fastest-growing economy in the Asia-Pacific (APAC) region and across all frontier markets, with a 10-year gross domestic product (GDP) compound annual growth rate (CAGR) of 9.1 percent, a July 2023 report by World Economics found.
With a July 2022 report from the Global System for Mobile Communications Association (GSMA) projecting that Bangladesh’s smartphone penetration will rise to 63 percent by 2025, digital lenders can reasonably expect the total addressable market (TAM) they serve to balloon over the coming years.
With these meteoric rise, banking and financial industry customers will become more demanding and the technology that the banks need to cater to this changing customer can only be done through a digital transformation. This opens a pool of opportunities for banks to invest more in cutting-edge technology and partnerships.
During his keynote address, Executive Director of Bangladesh Bank Debdulal Roy said, “Digital transformation presents an array of opportunities for banks in Bangladesh. By harnessing the power of digital technologies, banks can not only enhance customer experience but also drive operational efficiency and tap into previously underserved market segments.
Nat’l committee urges govt, BGMEA to allow 8-day Eid holiday for RMG workers
Commenting about the event, Director and CEO of Sonali Intellect of India and South Asia Ramanan SV said, “This confluence of industry visionaries and experts brought together a wealth of ideas on how financial institutions can digitally empower themselves to get ready on becoming the next-gen powerhouses. Sonali Intellect has been dedicated to delivering innovative solutions to disrupt customer experience.”
“With over three decades of deep domain expertise, Intellect is the brand that progressive financial institutions rely on for digital transformation initiatives. We serve over 270 Customers in 57 Countries, offering composable and contextual technology powered by eMACH.ai architecture in various business verticals, including Banking, Wealth Management, Insurance and Capital Markets,” he added.
After setting the context for the evening, Ramanan outlined the advent of a new era of progressive and innovative technology that will transform the way banks operate and provide value to their customers. His address was followed by two-panel discussions on Banks Becoming Digital Marketplaces - Business and Technology.
Minimum Fitra fixed at Tk 115 per person
CEO & MD of Sonali Bank Afzal Karim, DMD of Sonali Bank Subhash Chandra Das, MD & CEO of Rupali Bank Mohammad Jahangir, MD & CEO of Janata Bank Abdul Jabber, MD & CEO of Islami Bank Mohammed Monirul Moula, Founder & MD of Nagad Tanvir A Mishuk also spoke in the programme.
The panels were hosted by esteemed speakers - Mohammad Kaykobad, Professor of the Department of Computer Science and Engineering at Bangladesh University of Engineering and Technology (BUET); Mr Subash Chandra Das, Deputy Managing Director, Sonali Bank; Mr Mohammad Jahangir, Managing Director and CEO Rupali Bank; Mr Raju Daryani, EVP Intellect Design Arena; and moderated by Mr Ramanan SV.
The fifth and current wave, which began with the rise of cloud computing, has seen the development of marketplaces and ecosystems that bring together a range of different services and applications.
Bangladesh making effort to diversify high-end products to explore new markets: BGMEA President
President of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Faruque Hassan on Thursday said that Bangladesh is emphasising more on diversifying into high-end products and exploring new export markets.
He said this while the newly elected Executive Committee of the Bangladesh Garments Buying House Association (BGBA), led by its President Mohammad Mofazzal Hossain Pavel made a courtesy call on the BGMEA President at his office in Uttara.
During the meeting, a wide array of issues concerning the ready-made garment industry of Bangladesh was discussed, including its current status, vision, and potential avenues for growth and development.
Read: BGMEA hosts Training of Trainers to drive circularity in RMG Sector
BGMEA President Faruque Hassan extended his warm congratulations to the newly elected committee of BGBA (elected for the tenure of 2024-26), expressing optimism that under their leadership, BGBA would emerge stronger and play a more important role in the development of the apparel industry.
Faruque Hassan called on BGBA leadership to develop connections with new buyers who do not currently source from Bangladesh.
Both parties acknowledged the pivotal role played by the RMG sector in driving the economic progress of Bangladesh.
Emphasising the significance of collective endeavors, they underscored the importance of unity in addressing the challenges confronting the industry and enhancing its competitiveness amidst a dynamic business environment.
Read: Nat’l committee urges govt, BGMEA to allow 8-day Eid holiday for RMG workers
Both sides asserted commitment to working hand in hand towards building a sustainable garment industry in Bangladesh, one that is resilient, socially responsible, and globally competitive.
Other members of the Executive Committee include Md Abdul Hamid Pintu, Senior Vice-President, Mohammed Morshed Alam, A K M Saifur Rahman, Vice-Presidents, Zakir Hossain Secretary General, Emdad Ul Haque Miazi, Md Roman Mia, Joint Secretaries, and Fazlul Haque,Treasurer.
Read more: BGMEA chief urges German company to increase high-value garment sourcing from Bangladesh