business
Bangladesh in safe zone on foreign loan front: Finance Minister
Finance Minister AHM Mustafa Kamal has said that Bangladesh is in the safe zone in terms of receiving the foreign loans.
He made the remarks while briefing reporters after the two consecutive meetings of the Cabinet Committee on Economic Affairs (CCEA) and Cabinet Committee on Public Purchase (CCPP) on Thursday.
Also read:Govt to consult with all on proposed universal pension scheme: Finance Minister
Defending his remarks, he said Bangladesh’s debt-GDP ratio is 34 percent which is lowest in the world.
Our foreign exchange reserves are much higher than requirement, remittance is increasing, export is growing, and inflation is under control. We’re in the safe zone”, he said.
Kamal said the whole world is appreciating Bangladesh for its economic performances.
He said the countries having debt higher than their GDP (gross domestic products) are currently in danger. “But we are not at that level. Rather, our debt is much lower than GDP,” he asserted.
Responding to another question, the finance minister said the toll rates of the Padma Bridge have not been fixed yet. But a joint venture of South Korea and China has been awarded a contract to collect the tolls from the Padma Bridge project.
Also read:NBR works for win-win tax in upcoming budget: Finance Minister
“We didn’t do any detailed work on it. But we have a plan to make some profits by collecting revenue from the Padma Bridge project in order to implement more similar projects”, he said.
He said both the government and the users of the Padma Bridge will benefit from the project.
“We hope we could collect more revenue than the requirements to meet its expenditures”, he added.
Nagad wins 'Best Innovative Digital Financial Services Brand' award
Mobile financial services provider (MFS) Nagad has won the "Best Innovative Digital Financial Services Brand" award of the UK-based Global Brands Magazine.
Also, Tanvir A Mishuk, founder and managing director of Nagad, was named "Fintech Personality of the Year 2022."
Global Brands Magazine recently announced the awards in its 10th edition.
READ: Nagad organises workshop on money laundering & crime control
The magazine has been recognising innovations and accomplishments in several businesses such as fintech, banking, education, and technology.
This year, it awarded the best organisations in 11 industries, including airlines, banking and finance, fintech, consultancy, education, education technology, the stock market, insurance, investment, leadership, and technology.
Nagad has positioned itself as the country's second-largest MFS provider in less than two years through a series of innovations and customer-centric services since its establishment.
Read Nagad training workshop with Postal officials held
It already won several awards from both domestic and international institutions.
Tanvir was selected for the award for his exceptional contribution to financial inclusion in Bangladesh through Nagad.
Self-reliance in seed production essential for food security: FBCCI
Federation of Bangladesh Chambers of Commerce and Industries (FBCCI) on Wednesday urged the government to enhance local capacity of seed production and marketing to reduce severe dependency on its import.
The apex chamber leaders said 93 percent of different crops' seed are imported to meet the local demand while Bangladesh Agriculture Development Authority (BADC) can produce 7 percent of the total demand in the country.
Also read:FBCCI to boost business with Mexico
The self-reliance in seed production necessary for sustainable food security, said the leaders of FBCCI.
In such a situation, the members of the FBCCI's Standing Committee on Agriculture, Agricultural Processing and Agro-based Industries have called for increasing local seed production to make Bangladesh's food security sustainable at their first meeting.
FBCCI President Md. Jashim Uddin was present at the meeting as the chief guest, held at the FBCCI office on Wednesday.
He said that food security is one of the most important issues for any country. The agricultural production kept Bangladesh economy at a relatively better position during Covid-19 epidemic, he added.
The government has taken initiative to turn agro-based industries into export-oriented industries, he said.
The FBCCI Chief urged the private sector entrepreneurs to come forward to invest in this sector.
He said that although Bangladeshi agricultural products are exported their buyers are mainly expatriate Bangladeshis.
An expert’s team has been appointed to conduct research in the London market to find out why these products are not being sold in the mainstream market.
After receiving the research data, the FBCCI President hopes that it will be possible to further increase the export of Bangladesh agricultural products abroad.
“The Organization of Islamic Cooperation (OIC) countries are interested in taking halal food from Bangladesh. Hence there is a lot of potential in this sector.” The President said.
Also read: FBCCI hails Hasina for lighting up Bangladesh
Earlier, the director in-charge of the committee Dr. Ferdousi Begum said huge import dependence of seeds is a risk for the food security of the country.
Tasfia Jashim, co-chair of the committee, said, “54 per cent of the labor force in agriculture is women. Equal pay for this huge number of workers has not yet been ensured. At the same time, women own 10 percent or less of the land.”
Mostofa Azad Chowdhury Bab, senior vice-president of the FBCCI, the chairman of the committee Md. Abul Hashem,FBCCI Director Bijoy Kumar Kejriwal, Harun or Rashid, Secretary General Mohammad Mahfuzul Hoque, Co-Chairmen of the Standing Committee, among others, spoke in the meeting.
Delivering Successful Business Presentation: What are the Ways and Secrets?
Business presentations are an excellent method of selling an idea, a service, or a plan. However, an un-successful presentation fails to express the most useful data or information that a firm has to offer or provide to satisfy its target audience. On the other hand, better presentations are within your company's grasp. You can start producing impressive business presentations right away if you have the correct tools and strategies. This post will look at the skills of creating a good business presentation.
9 Secrets for a Successful Corporate Presentation
Go Deeper with Your Research
Delivering a successful business presentation that engages the viewers requires more than just dumping facts into a slide deck. Find a key detail that goes beyond the scope of your subject. Offer the unexpected—one obscure and contradicting piece of knowledge that will raise eyebrows and spark debate.
Extend your search beyond a basic search engine check. Investigate relevant websites for fresh research, interview industry trailblazers, and peruse the business press.
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Show Sheer Enthusiasm
Vibes are always important. Nobody likes to hear you go on about a topic you are not interested in. If you are exhausted and bored with your own presentation, your audience may feel monotonous as well.
Anyone who is listening to you must realize how enthusiastic you are about the issue. This will be evident in your body language, such as talking, establishing eye contact, and moving about the stage. Amy Cuddy, a Harvard professor, explores how body postures might express authority. She spent hours striding, standing tall, and stretching her body before her incredibly successful TED address. These motions put her in a strong and passionate frame of mind.
However, it might be critical to energize yourself or your team members before a business presentation. You can warm-up with some stretching or voice exercises.
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Keep it Emotionally Appealing
A business presentation's goal is to move audience members from their certain feelings, which are frequently suspicious or indifferent, to an emotional state where they will make a positive choice. Or to a motivating state of mind from where they will be excited enough to act. As a result, rather than a succession of facts, frame your presentation as a trip through a variety of feelings.
Organize All the Necessary Data
Understanding the material contained therein is another critical step in developing great business presentations. Data is the most powerful tool a presenter can use to persuade the audience about the advantages of investing in a project, product, or idea. So, think carefully about which facts to include in your presentations and how to display them.
Data literacy is a topic that is gaining popularity in businesses. When discussing corporate presentations, the topic also comes to mind. Make sure that every piece of material in the presentation offers a clearer context to the topic you are giving and aids in decision-making.
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Be Authentic and Credible
Delivering a presentation does not mean to just display some information. It is not the time to boast about your career, project, firm, or organization. Rather, it is the time to demonstrate that what you say is trustworthy.
You are allowed to give out the details through facts and case studies. You may also accomplish this by sharing experiences. Furthermore, you can reveal the effort you put in to get the knowledge you currently have.
This is a key factor to remember while giving a presentation to your management or venture capitalists. They will easily recognize whether you have a strong history in the field.
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Choose a Proper Layout
As much as data is vital for persuading your audience, how you display it is equally significant in terms of how the targets perceive it. Creating a beautiful presentation is critical to its success since it makes it much simpler to express concepts in a clear and straightforward manner.
There are several methods for presenting information to your audience, and selecting the correct data visualization tools is a critical step toward success. Whether you show your data via pie charts, bar graphs, or complicated interactive technologies, your decision should be informative and in the organization's best interests.
Consider how your audience will digest your presentation. Will they view it on their laptops, on a big screen, in groups, or by themselves? This will assist you in determining font size, color scheme, and scale for the provided data.
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Avoid Information Overload
Cramming a lot of bullet points and visuals into your slides may send the viewers to sleep. The human brain processes visuals at 60,000 times the pace of the text. Because people will hear you rather than trying to read text on a computer or projector. Conversely, one properly selected statistic, infographic, diagram, or picture that tells a narrative may make your presentations more memorable and pleasant.
Minimize Yourself
People are selfish, and your audience is no exception. They want to understand how you plan to assist them in resolving their issue or how they are going to be benefited by your project or idea. They are unconcerned with your personal background. Frame your presentation in such a way that people might perceive themselves as the hero who solves the issue or offers a new opportunity.
Be with a Proper Mindset
If you are an employee of a company, you are undoubtedly exposed to a lot of presentations on a daily basis. So, while creating your presentation, you may want to put your creative thinking abilities to good use. To accomplish this, you must concentrate not just on the presentation itself but also on your mentality.
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Set goals for your presentation, determine its scope and learn from the experts. One of the world's best speakers, Steve Jobs famously stated, "a lot of times, people don't know what they want to see until you show them."
Examine how you want to give your presentations and, most importantly, ensure that you believe in the concept you are delivering to the target audience. This will go a long way toward making your business presentation a success.
Conclusion
The key to delivering a good corporate presentation is to connect with your audience and actually demonstrate the value of your ideas. This collection of expert advice might help you in tiny ways that will lead to large results. If you are already excited about your upcoming business presentation, inject a bit of your own personality into it.
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Nagad organises workshop on money laundering & crime control
'Nagad,' one of the country’s leading mobile financial services, recently conducted a workshop for the entrepreneurs in Gaibandha district aiming at identifying, controlling and preventing money laundering in order to avert fraudulent activity and terrorism financing.
During the session, the speakers emphasized the importance of preventing money laundering and terrorist financing for conducting ‘Nagad’ business and identifying potential risk areas. The organisers also discussed the strategies for increasing awareness of the entrepreneurs, reporting suspicious transactions, and raising awareness about fraudulent activity.
Lt Col Md Kousar Soukat Ali (retd), Chief of External Affairs Officer of Nagad, said, “Nagad has always prioritised entrepreneurial awareness and a secure business framework. As part of our efforts, we will continue to organize such awareness events across the country.”
READ: NRB Islamic Life Insurance premiums can be paid through Nagad
Representatives of the Gaibandha District Police highlighted their expertise in conducting various criminal cases, including fraud, and relevant challenges, and drew attention to the areas of cooperation of the entrepreneurs at the workshop.
Md. Mahbub Alam, PPM, DIG (Retd.), Head Stakeholder Management of Nagad assured complete cooperation in the correct procedure of regulating with the assistance of Nagad. He also urged the police department to work cooperatively with the local ‘Nagad Uddoktas’.
Additionally, top authorities from 'Nagad' visited several ‘Uddokta points’ in Gaibandha, Rangpur and Nilphamari districts to apprise them of the importance of preventing money laundering and terrorism funding. The entrepreneurs of Nagad participated spontaneously in the inspection process and made several constructive proposals to address the different obstacles inherent in running the business.
Read Nagad training workshop with Postal officials held
The workshop was also attended by Gaibandha District Police representative and senior officials.
FBCCI to boost business with Mexico
A Virtual Business Platform of Mexico – Bangladesh has been launched to create better opportunities and bring the business community of Bangladesh and Mexico on a single platform.
It was launched on Monday night through a webinar organised by Mexican Business Council for Foreign Trade, Investment and Technology (COMCE).
Also read: FBCCI hails Hasina for lighting up Bangladesh
FBCCI President Md. Jashim Uddin said that the relations between the two countries have grown over the years, but have not yet reached its fullest potential.
Highlighting the rapid development and favorable investment policy in Bangladesh, the apex trade body chief urged Mexico to invest in R&D in the thriving sectors with new innovation like agro-based products, frozen fish, FMCG, diversified jute and leather goods, automobile pharmaceuticals, plastic goods, home furnishings and home textiles, light engineering, ceramics, home appliances furniture and information technology.
FBCCI Director Abul Kasem Khan presented a power point presentation on trade and investment opportunities and potentials in Bangladesh and Mexico.
Also read: FBCCI to set up trade centre in Dubai
Mexican non-resident ambassador to Bangladesh Federico Salas Lotfe, Ambassador of Bangladesh to Mexico Abida Islam, Vice Chairman and Chairman of the Asia Pacific Business Section, COMCE Amb. Sergio Ley, Vice-chairman of the Asia Pacific Business Section, COMCE Agustin Garcia Rechy, FBCCI Director Prity Chakraborty and Secretary General Mohammad Mahfuzul Hoque were present at the webinar where it was moderated by Manager of the Asia Pacific Business Section, COMCE Jessica Ortiz.
Chinese company to invest $ 12.89 million in Mongla EPZ
Chinese Company Xihe Textile Technology Bangladesh Limited will set up a garment manufacturing industry in Mongla EPZ with an investment of USD $12.89 million.
The fully foreign owned company will produce annually 5 million pcs of woven garments and 2.3 million pcs Knit garments. Xihe Textile will create employment opportunities for 2892 Bangladeshi nationals.
Read: Uzbekistan keen to invest in Bangladesh’s oil, gas exploration sector
The company has another RMG factory named Garments Manufacture JINLITE Bangladesh in Mongla EPZ.
An agreement to this effect signed between Bangladesh Export Processing Zones Authority
(BEPZA) and the Xihe Textile Technology Bangladesh, in the capital on Tuesday.
Ali Reza Mazid, Member (Investment Promotion) of BEPZA and Yang Jilai, Managing Director of Xihe Textile Technology Bangladesh Ltd signed in the deed documents on behalf of their respective sides.
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Abul Kalam Mohammad Ziaur Rahman, general and executive chairman of BEPZA witnessed the signing ceremony.
Among others BEPZA members Mohammad Faruque Alam, Nafisa Banu, executive directors Md. Zakir Hossain Chowdhury, Nazma Binte Alamgir, Md. Tanvir Hossain were present during the signing ceremony.
World Bank says war shocks to drag on Asian economies
Disruptions to supplies of commodities, financial strains and higher prices are among the impacts of the war in Ukraine that will slow economies in Asia in coming months, the World Bank says in a report released Tuesday.
The report forecasts slower growth and rising poverty in the Asia-Pacific region this year as “multiple shocks” compound troubles for people and for businesses.
Growth for the region is estimated at 5%, down from the original forecast of 5.4%. The “low case” scenario foresees growth dipping to 4%, it said. The region saw a rebound to 7.2% growth in 2021 after many economies experienced downturns with the onset of the pandemic.
Also read: World Bank projects developing East Asia Pacific to grow 5 pct in 2022
The World Bank anticipates that China, the region’s largest economy, will expand at a 5% annual pace, much slower than the 8.1% growth of 2021.
Russia's invasion of Ukraine has helped drive up prices for oil, gas and other commodities, eating into household purchasing power and burdening businesses and governments that already are contending with unusually high levels of debt due to the pandemic, the report said.
The development lending institution urged governments to lift restrictions on trade and services to take advantage of more opportunities for trade and to end fossil fuel subsidies to encourage adoption of more green energy technologies.
“The succession of shocks means that the growing economic pain of the people will have to face the shrinking financial capacity of their governments,” said the World Bank's East Asia and Pacific Chief Economist Aaditya Mattoo. “A combination of fiscal, financial and trade reforms could mitigate risks, revive growth and reduce poverty.”
The report pointed to three main potential shocks for the region: the war, changing monetary policy in the U.S. and some other countries and a slowdown in China.
Also read: Sri Lanka wants Bangladeshi investment in tourism, agriculture sector
While rising interest rates make sense for cooling the U.S. economy and curbing inflation, much of Asia lags behind in its recovery from the pandemic. Countries like Malaysia may suffer outflows of currency and other financial repercussions from those changing policies, it said.
Meanwhile, China's already slowing economy could falter as outbreaks of COVID-19 provoke lockdowns like the one now in place in Shanghai, the country's biggest megacity. That is likely to affect many Asian countries whose trade relies on demand from China.
“These shocks are likely to magnify existing post-COVID difficulties," the report said. The 8 million households whose members fell back into poverty during the pandemic, “will see real incomes shrink even further as prices soar."
The report noted that regional economies fared better during the 2021 Delta variant waves of coronavirus than in the initial months of the pandemic in 2020, largely because fewer restrictions were imposed and widespread vaccinations helped limit the severity of the outbreaks.
On average, countries with a 1 percentage point higher vaccination rate had higher growth, it said.
World Bank projects developing East Asia Pacific to grow 5 pct in 2022
The developing East Asia and Pacific countries is projected to grow by 5 percent in 2022 amid the resurgence of COVID-19 pandemic, tighter financial conditions and the Russia-Ukraine war, the World Bank said Monday.
"Shocks emanating from the war in Ukraine and the sanctions on Russia are disrupting the supply of commodities, increasing financial stress, and dampening global growth," said the World Bank's newly released East Asia and Pacific Economic Update.
Also Read: World Bank Recruitment 2022: Job opportunities at the World Bank, workplace Dhaka
"Just as the economies of East Asia and the Pacific were recovering from the pandemic-induced shock, the war in Ukraine is weighing on growth momentum," said World Bank Vice President for East Asia and Pacific Manuela V. Ferro. "The region's largely strong fundamentals and sound policies should help it weather these storms."
Surging U.S. inflation could provoke faster-than-anticipated financial tightening, perhaps timely in the United States but "too early" in many East Asia and Pacific countries where recovery is "incomplete," according to the report. The risk of capital outflows, which could put pressure on some countries' currencies, could induce "premature" financial tightening.
Overall economic growth in developing East Asia and Pacific countries is projected to slow to 5 percent in 2022, 0.4 of a percentage point less than expected in October, the World Bank noted, adding that if global conditions worsen and national policy responses are weak, growth in the region could slow to 4 percent.
Also Read: World Bank okays $358 million fund to improve road safety in Bangladesh
To mitigate the risks and grasp the opportunities, the World Bank urged governments to enhance efficiency of fiscal policy for recovery and growth, and strengthen macroprudential policies to mitigate risks from global financial tightening.
It also called on policymakers to reform trade-related policies in goods and, especially, in still-protected services sectors to take advantage of shifts in the global trade landscape, and encourage diffusion of technology.
Bangladesh’s forex reserves cross $44 bn thanks to better inflow
Bangladesh’s forex reserves rose to USD $ 44.30 billion again after a month, thanks to growing inward remittance.
The forex reserve fell to $43.89 billion on March 6, 2022 after paying import bills of $2.16 billion to Asian Clearing Union (ACU). It was the lowest forex reserves for Bangladesh in past one year.
The remittance inflows of $15.30 billion in nine months of the current (July-March) fiscal year (FY), pushed the foreign currency reserves to 44.30 billion on Sunday in contrast to a month ago.
Bangladesh Bank (BB) sources said with the reserves, it will be possible to meet the import costs over five months. But even six months ago, Bangladesh Bank had reserves to meet the import cost of 10 months.
Also read: Bangladesh’s forex reserve expected to thrive on increased remittance inflow
However, the inflow of remittance is still in negative growth in the first nine months (July-March) of the current 2021-22 fiscal year. In these nine months, the expatriates have sent $15.30 billion remittance. During the same period of the last fiscal year 2020-21, the expatriates sent $ 18.59 billion remittance.
It shows that the inflow of inward remittance has decreased by 18 per cent in 9 months despite remittance inflow increase by 24.45 per cent in March compared to February.
Md. Serajul Islam, executive director and spokesperson of BB told UNB that remittance inflow in the banking channel is increasing gradually after raising the cash incentive to 2.5 per cent.
The expatriates are taking Tk 102.5 by sending Tk 100 remittance in the hassles-free legal channel, he said.
Serajul hinted that the remittance inflow would increase in April for Ramadhan and Eid as the expatriates usually send more money to their relatives in the country during the festival.
The inward remittance inflow of the last nine months of FY22 saw a decreasing trend compared with the similar months in the FY21.
Also read: No decision yet to lend private sector from forex reserves: Finance Minister
Bangladesh received remittance $1.87 million in July, $1810.10 million in August, $1726.71 million in September, $1646.87 million in October and $1553.70 million in November, $1630.66 million in December, $1704.53 million in January, $1149.08 million in February and $1859.97 million in March of FY22.
In the same period of FY21, the remittance inflow was $2598.21million in July, $ 1963.94 million in August, $ 2151.05 million in September, $ 2102.16 million in October, $2078.74 million in November, $2050.65 million in December, $ 1961.91 million in January, $1780.59 million in February and $1910.98 million in March.