25-06-2022
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SATURDAY, JUNE 25, 2022
8
United Commercial Bank Ltd recently signed an MoU with "SHE" an F-Commerce based women's
organization having more than 2,50,000 members. Through this MoU, members of SHE will be
allowed to open accounts with preferential features. They will also get different banking facilities
through UCB's physical and digital platforms. On behalf of the organizations, Md Shah Alam
Bhuiyan, Deputy Managing Director, UCB; and PromeDey, Founder of SHE exchanged the agreement.
Md Mohsinur Rahman, SVP and Head of SME Banking Division along with other Head of
Branches of UCB; and Joyanta Sen Gupta, spokesperson, SHE were present among others in the
event at UCB Regional Office of Chattogram.
Photo: Courtesy
Major US banks can
weather severe economic
downturn: Fed
WASHINGTON : The
largest banks operating in
the US market have
sufficient resources to
withstand a severe economic
downturn and continue
providing financing to
American families and
firms, the Federal Reserve
said Thursday, reports BSS.
The Fed subjected 33
banks to its annual "stress
test" exercise, to gauge
whether they would be able
to weather a steep global
recession.
In the hypothetical crisis,
financial markets plummet,
commercial real estate and
corporate debt markets face
substantial strain, US
unemployment reaches 10
percent and the economy
contracts by 3.5 percent.
The results "showed that
banks continue to have
strong capital levels,
allowing them to continue
lending to households and
businesses during a severe
recession," the Fed said.
The scenario for this year's
test was even bleaker than
the one used last year, but
the outcome was the same,
showing all the banks would
maintain a sufficient
"cushion" despite total
projected losses of $612
billion, according to the
report.
"Despite the larger poststress
decline this year...
capital ratios remain well
above the required
minimum levels
throughout the projection
horizon" of nine quarters,
the report said.
The stress tests,
implemented in the wake of
the 2008 global financial
crisis, apply to banks with at
least $100 billion in total
assets, including the top tier
designated as "global
systemically important
banks."
Japan inflation
stays at seven-year
high in May
TOKYO: Japan's core
consumer prices jumped 2.1
percent again in May, the
second consecutive monthly
jump of a level not seen in
seven years, official data
showed Friday, reports BSS.
The core consumer price
index, which excludes fresh
food, jumped 2.1 percent
year-on-year in May,
according to figures released
by the internal affairs
ministry.
The rise follows a 2.1
percent jump in April, the
first time since March 2015
that the figure breached the
2.0 percent set by the Bank
of Japan (BoJ) as its longterm
inflation target.
The reading, in line with
market expectations, comes
after the Japanese central
bank last week stuck to its
monetary easing policy even
as other central banks raise
interest rates to tame
inflation.
The BoJ did, however, said
it would "pay due attention"
to forex markets after the
yen hit a 24-year low.
India rushes food, medicine
to bankrupt Sri Lanka
COLOMBO: Sri Lanka accepted a rice and
pharmaceuticals shipment from
neighbouring India Friday as the island
nation battles an unprecedented economic
crisis that has left supermarket shelves and
pharmacy cabinets empty, reports BSS.
A critical shortage of foreign currency has
left Sri Lanka unable to pay for enough
imported food, fuel and medicines to meet
demand since the end of last year, causing
widespread hardship.
Its 22 million people have also been forced
to endure prolonged daily blackouts and
galloping inflation that has strained
household budgets.
India has extended $1.5 billion in credit
lines to allow Sri Lanka to keep meeting a
portion of its food and energy needs, and
Friday's shipment followed a visit by Indian
experts for aid talks. "Both parties discussed
at length the future course of action of the
Indian aid programme to stabilise and revive
the Sri Lankan economy," Sri Lankan
President Gotabaya Rajapaksa's office said
after the meeting.
An acute lack of petrol has immobilised Sri
Lanka this week, with parliament cancelling
two days of sittings to help conserve fuel.
The United Nations last week appealed for
emergency food aid after a survey showed
that four out of five Sri Lankans were
skipping meals to cope with the crisis.
A US Treasury delegation is expected in
the capital Colombo next week to assess the
crisis, with Prime Minister Ranil
Wickremesinghe telling lawmakers
Wednesday that the nation's economy had
reached the point of "complete collapse".
Sri Lanka has already defaulted on its $51
billion foreign debt and is in bailout talks
with the International Monetary Fund,
which could take months.
Bangladesh celebrates 'World Business
Angels Investors Week 2022'
The World Business Angels Investors Week-
2022https://angelsweek.org/celebrated in
Bangladesh with a gorgeous event based on
the global theme is Business Transformation
for Post -Pandemic Economics recently. The
Week is coordinated globally by the World
Business Angels Investment Forum - an
affiliated partner of the G20 Global
Partnership for Financial Inclusion (GPFI), a
press release said.
Professor Shibli Rubayat Ul Islam,
Chairman, Bangladesh Securities and
Exchange Commissionwas the Keynote
Speaker and Chief Guest where Dr. Md.
Sabur Khan, Chairman, Board of Trustees,
Daffodil International University was the
distinguished speaker at the ceremony.
Mohammad Nuruzzaman, Bangladesh Chair
of World Business Angels Investors Week-
2022 and CEO of Daffodil Family delivered
welcome speech on the occasion. Baybars
Altuntas, Executive Chairman World
Business Angels Investment Forum greeted
the event through a video message.
After the inauguration, a roundtable
discussion titled 'Role of Angel Investors in
the Development of Startup Ecosystem' was
held on. Munir Hassan, Chief Coordinator of
Digital Transformation and Youth
Program,Prothom Alo, Nirjhar Rahman,
CEO, Bangladesh Angels, A K M Fahim
Mashrrur, Co-Founder and CEO,
bdjobs.com, M Asif Rahman, CEO, ArComm,
WPdeveloper, Serial Entrepreneur and Angel
Investordiscussed at the roundtable as the
speakers. The roundtable was moderated by
Asif Iqbal, Senior Lecturer, Department of
Innovation and Entrepreneurship, Daffodil
International University and Bangladeshi
Coordinator, WBAW.
While presenting keynote paper, Professor
Shibli Rubayat Ul Islam said, Angel
Investment is very important in different
aspects likeAngel Investors' contribution
viatime, expertise, knowledge &connections
to the business; Empirical strong
correlationbetween national GDP &
thenumber of entrepreneursactively engaged
in enterprisecreation activity and Angel
Investors be the parentsof SMEs providing
more than money in return for a stake inthe
startups' success.
Dr. Md. Sabur Khan said, Covid-19 has
created both new challenges and as well as
opportunities for the young entrepreneurs
and new Start Ups. For initiating 'Digital
Bangladesh' program in earlier, Bangladesh
is growing fast and set an example of role
model of development even in global
pandemic situation. He urged all to be doer
and make friendship with the technologies
like 'Internet of Thinking', Artificial
Intelligence and work smartly.
It is to be mentioned that 'World Business
Angels Investors Week-2022' has started
worldwide from last 20th June 2022. This
special week is being celebrated in 132
countries across 5 continents, the World
Business Angel Investors Week 2022
welcomes more than 200,00 participants
from around the world. These include 320
keynote speakers, 765 distinguished panel
speakers, speeches by 12 presidents, 6 prime
ministers, and 32 ministers.World Business
Angels Investors Week-2022' will end on
June 26, 2022.
Dr. Md. Sabur Khan, Chairman, Board of Trustees, Daffodil International
University and Professor Shibli Rubayat Ul Islam, Chairman, Bangladesh
Securities and Exchange Commission, Mohammad Nuruzzaman, Bangladesh
Chair of World Business Angels Investors Week-2022 and CEO of Daffodil Family
are seen at the Bangladesh Chapter Program.
Photo: Courtesy
Huawei MateBook D to bid Upgraded
& Seamless AI Life Experience
Huawei makes its PCs smarter than ever with the new 11th
Gen Intel Core i5 Processor, which will significantly improve
performance and cross-device communication. The most
recent models of Huawei's MateBook D series, the MateBook
D14 and MateBook D15, are designed to meet the needs of
young people at all stages of online education, remote
employment and multimedia entertainment, a press release
said. The Huawei MateBook D14 & D15 also offered a highcapacity
battery and other cutting-edge features like Super
Device, Fingerprint Power
Button, Dual Antenna Wi-
Fi 6, and reverse charging
for smartphones. For
young people in all kinds of
educational and everyday
settings, the HUAWEI
MateBook D series is now
more than just a
productivity tool. The new
MateBooks are powered by
an 11th Generation Intel i5
Processor built on 10nm
SuperFin technology. The
quad-core, eight-thread
processor handles
common usage scenarios
with ease thanks to quicker performance than its
predecessors. It also has integrated Intel® Iris® Xe
Graphics, which provides graphics performance comparable
to entry-level discrete competitors. Additionally, the Huawei
MateBook D provides a high-speed 512GB NVMe PCle SSD
and 8GB of memory for improved read and write
performance and a more streamlined operating experience.
The Huawei MateBook D14 features a 14-inch 1080p Full
Swisscontact Bangladesh has recently
teamed up with Geocycle Bangladesh,
the waste management wing of
LafargeHolcim Bangladesh Limited, to
implement a green initiative in micro,
small and medium enterprises
(MSMEs) in the leather goods sector of
Bhairab, Kishoreganj. The agreement is
also endorsed by the Bhairab
Municipality and Bhairab Paduka
Karkhana Malik Somobay Somity
Limited. Under this multi stakeholder
agreement, Swisscontact will deploy
innovative solid waste management
solutions as initiatives of B-SkillFUL
Phase II and Prabriddhi, two
programmes funded by Switzerland, a
press release said.
A Memorandum of Understanding
(MoU) was signed on 23rd June 2022
at theHotel Amari, Dhaka between the
Bhairab Municipality, Bhairab Paduka
Karkhana Malik Somobay Somity
Limited, Geocycle and Swisscontact.
Representations from the Embassy of
Switzerland in Bangladesh and all
parties concerned attended the event.
This initiative addresses
environmental pollution, caused by the
enormous volume of solid waste
generated by Bhairab's leather goods
sector, by establishing a safe and
environment-friendly process of waste
collection, disposal and recycling. As a
result, this initiative will create multiple
impacts in improving working
conditions within MSMEs, reducing
environmental hazards and promoting
cost effective and green production
processes.
HD IPS anti-glare screen, whereas the Huawei MateBook
D15 has a 15.6-inch 1080p Full HD IPS anti-glare screen. It
also keeps the FullView design of its predecessors with an up
to 87 percent screen-to-body ratio and a 16:9 aspect ratio for
a more immersive viewing experience.
The Huawei MateBook D series results in a seamless and
exquisite overall appearance with a simple metal body and
refined lines, weighing just 1.38kg and measuring only
15.9mm at their thickest point for MateBook D14, and
weighing 1.56kg and
measuring 16.9mm for
MateBook D15. The 65W AC
adapter can be used to
charge some Huawei
smartphones that support
the Huawei SuperCharge
technology. Furthermore, it
supports reverse charging of
mobile phones from the
notebook, when the
notebook is switched off.
Users may enjoy a new
smart office experience
thanks to its ability to
seamlessly collaborate with
other Huawei products
(including phones, tablets, and monitors). Consumers will
soon be able to try out the beta version of AppGallery, which
will allow them to use specific mobile applications from the
AppGallery that are supported by the Mobil App engine.
Huawei MateBook D14 and Huawei MateBook D15 are
available for order and sale at Huawei Stores, Huawei
Experience Stores and authorized retail stores for BDT
71,999, respectively.
LafargeHolcim signs agreement with
Swisscontact Bangladesh
This partnership further strengthens
Switzerland's increased focus on
climate change and environment in
Bangladesh.
Implemented by Swisscontact, the B-
SkillFUL program me is a four-year
skills and enterprise development
programme of Swisscontact not only
aims to improve the productivity and
competitiveness among workers by
creating better jobs but also promotes
more environmentally sustainable
practices among participating MSMEs.
And the Prabriddhi programme
focuses on building the capacity of
urban or rural territories to create a
competitive advantage for their
enterprises through a broad set of
activities and improve the economic
well-being of its people and workers.
World leaders seek united front for
Ukraine as war rages on
BERLIN: World leaders including US President Joe Biden
will seek to close ranks at back-to-back summits from
Sunday on offering emphatic support to help Ukraine repel
Russian invaders as the relentless war puts international
unity to the test, reports BSS.
In the face-to-face talks, the allies will take stock of the
effectiveness of sanctions imposed so far against Vladimir
Putin's Russia, consider possible new military and financial
aid for Ukraine, and begin turning their eye to longer-term
reconstruction plans.
But they will also be struggling to maintain a united front
as the fallout from the war-from soaring inflation to looming
food shortages to fears over energy supplies-tug at their
resolve. Ahead of the summit of G7 most industrialised
nations which will be hosted from Sunday at the Bavarian
mountain resort of Elmau Castle, German Chancellor Olaf
Scholz warned that allies would need stamina in shoring up
Ukraine.
"The truth is, we are still far from negotiations between
Ukraine and Russia" because Putin "still believes in the
possibility of a dictated peace", Scholz said on Wednesday.
"It is therefore all the more important that we stay firmly
on course-with our sanctions, with internationally
coordinated arms deliveries, with our financial support for
Ukraine." Scholz will be arriving in Elmau from an EU
summit in Brussels, where the 27-member bloc on Thursday
agreed to grant "candidate status" to Ukraine.
After the G7 summit closes on Tuesday, the leaders will
head to a gathering of NATO powers in Madrid.
There, cracks are already apparent over Sweden and
Finland's bids for accession, after Turkey blindsided the 30-
member defence alliance in opposing the applications.
Western allies have supplied Ukraine with billions in
financial aid and armaments, with the US leading the charge
with $5.6 billion worth of weapons alone.
But as the war drags into its fifth month, Ukraine has
repeatedly warned that it needs far more support to
withstand the grinding Russian assault.
Ukraine's President Volodymyr Zelensky will participate in
the G7 and NATO summits in separate video-link sessions,
but he has made his agenda abundantly clear with his
repeated pleas for more pressure on Russia and more
weapons for his troops.
Washington said leaders at the G7 plan to "roll out a
concrete set of proposals to increase pressure on Russia".
Yet allies' coordinated unprecedented action to shut down
Russia's economy has failed so far to work.
Instead, it has exposed the Achilles heel of energy reliance
that continues to crimp the ability of major players like
Germany or Italy to go all out in punishing Moscow.