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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.

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