30-04-2021

FRIDAY, APRIL 30, 2021
8
US corporations, wealthy must
‘pay their fair share’: Biden
WASHINGTON : US President Joe Biden on
Wednesday called for higher taxes on wealthy
Americans and corporations as he sought
ways to pay for his spending proposals aimed
at improving infrastructure and the
workforce, reports UNB
"How do we pay for my jobs and family
plan? I made it clear we can do it without
increasing the deficit," Biden told a joint
session of Congress. "I will not impose any tax
increase on people making less than
$400,000. But it's time for corporate
America and the wealthiest one percent of
Americans to begin to pay their fair share."
Biden has made two proposals to revamp
the US economy after the Covid-19 pandemic
caused a severe downturn in 2020, the latest
of which was the $1.8 trillion American
Families Plan unveiled earlier in the day that
would pour money into early education,
childcare and colleges and universities.
WASHINGTON : Washington is looking
closely at the trade agreement signed with
China by the Trump administration to ensure
Beijing is living up to the terms, the top US
trade negotiator said on Wednesday.
"With respect to the purchase
commitments that the Chinese made in the
US-China trade agreement, we are in the
process of examining their performance and
are scrutinizing all of the aspects of what they
have done," US Trade Representative
Katherine Tai said.
She received numerous questions on
relations with China as she testified before a
Senate subcommittee, and said President Joe
Biden's administration is studying all its
"options" for enforcing the trade pact.
The two countries signed a so-called "phase
1" agreement in January 2020, in which
Beijing pledged to increase its purchases of
American products and services by at least
$200 billion over 2020 and 2021. Tai said
examining China's performance against the
The president has also proposed a more
than $2 trillion infrastructure plan that would
pay for renovating roads and bridges while
also funding green technology, expanding
broadband internet access and fixing
household water supplies.
But unlike the $1.9 trillion pandemic rescue
measure he signed last month, Biden is under
pressure to find ways to pay for his latest
proposals, and in a speech where he called for
higher taxes on the rich, the president aimed
his rhetoric at the middle class.
"I know some of you at home are wondering
whether these jobs are for you. So many of the
folks I grew up with feel left behind, forgotten
in an economy that's rapidly changing," Biden
said.
"My fellow Americans, trickle-down
economics has never worked. It's time to grow
the economy from the bottom up and middleout."
US ‘scrutinizing’ trade deal with China: Official
promises made "will be a priority for us."
According to economist Chad Bown of the
Peterson Institute for International
Economics, China was nearly 40 percent
short of the target amounts through the first
quarter of the year.
"We are very focused on this agreement …
testing its utility, and maximizing our use of
the tools that are included in this agreement,"
Tai told the Senators.
However, Tai said the meeting with her
Chinese counterpart, which the deal calls for
every six months, has "not yet been
scheduled."
The deal aimed to end a damaging two-year
trade war launched by former president
Donald Trump.
However, Washington has maintained
tariffs of 25 percent on a range of Chinese
goods and industrial components worth $250
billion annually, and China has maintained
duties on some imports from the United
States.
Morshed Alam,
M.P. re-elected
Chairman of
Mercantile Bank
Limited
Eminent businessman and
Industrialist Morshed
Alam M.P. has been reelected
as Chairman of
Mercantile Bank Limited
in the 385th Board meeting
of the Bank held yesterday.
He is the Sponsor Director
of the Bank. Morshed Alam
is the Founder Chairman of
'Bengal Group of
Industries'. He has been
elected member of
parliament from Noakhali-
2 (Senbag-Sonaimuri) for
10th & 11th national
parliament election. He is
also chairman of Private
Satellite channel RTV.
Besides these He is
involved in Financial
Services, export oriented
textile & Apparel industry,
real estate & construction
materials, hotel & resorts
and many other business &
industries in the country.
32nd meeting Shariah Supervisory committee of Union Bank Ltd was held at its head office,
Gulshan, Dhaka on Wednesday. President of the Committee Prof Mujahidul Islam
Choudhury presided over the meeting where other members of the committee were also
present at that time.
Photo : Courtesy
NRBC board recommends 12.50pc
cash dividend for shareholders
The Board of Directors of
NRB Commercial (NRBC)
Bank Limited has
recommended 12.50%
dividend with 7.50 % cash
dividend and 5% stock
dividend for the
shareholders for the year
2020 subject to approval of
the 8th Annual General
Meeting of the Bank.
Investors who have become
the shareholder through
secondary market this year
will also receive this
dividend, though this is the
dividend of last year. The
decision was taken in the
119th board meeting of the
board of directors which
has taken place virtually on
Thursday with its
Chairman S.M. Parvez
Tamal in the chair.
Mohammed Adnan Imam,
Rafikul Islam Mia Arzoo,
A.M Saidur Rahman, Abu
Bakr Chowdhury, Loquit
Ullah, Mohammed Nazim
and AKM Mostafizur
Rahman, Directors of bank,
Air Chief Marshal Abu
Esrar (Retd), Dr. Khan
Mohammed Abdul
Mannan and Raad Mozib
Lalon, Phd, Independent
directors, Md. Mukhter
Hossain, Managing
Director & CEO and Md.
Mozammel Hossain,
Company Secretary of the
bank attended the meeting,
says press release.
The Board also decided to
hold 8th Annual General
Meeting of the Bank on 26
June 2021, Saturday. The
Record date for entitlement
of dividend has been fixed
on 31 May 2021, Monday.
The meeting adopted
annual audited financial
statements for the ended on
31 December 2020.
It should be mentioned
that before the enlistment
in share market the paid up
capital of the bank was 582
crore Taka which increased
to 702 crore 52 lakh taka
after the IPO enlistment.
Both sponsors and general
share holders will receive
the declared dividend .
The Board of Directors of Islami Bank Bangladesh Limited has recommended 10% cash dividend for
the shareholders for the year 2020 subject to approval of the 38th Annual General Meeting of the
Bank. The decision was taken in a virtual meeting of the board of directors on Tuesday with its
Chairman Professor Md. Nazmul Hassan, Ph.D in the chair. Yousif Abdullah Al-Rajhi and Md.
Shahabuddin, Vice Chairmen, Dr. Areef Suleman, representative of Islamic Development Bank,
other Directors, Mohammed Monirul Moula, Managing Director & CEO and J.Q.M. Habibullah, FCS,
Deputy Managing Director & Company Secretary of the bank attended the meeting. The Board also
decided to hold 38th Annual General Meeting of the Bank on 27 June 2021, Sunday. The Record date
for entitlement of dividend has been fixed on 20 May 2021, Thursday. The meeting also adopted
unaudited financial statements for the first quarter ended on 31 March 2021. Photo : Courtesy
Tecno Spark 7 Pro launched
in Bangladesh
Premium smartphone brand
TECNO has announced a new
smartphone under their
Spark Series in Bangladesh. It
is the most powerful phone in
the Spark series from the
brand. Some of its major
highlights include a big
display with support for a high
refresh rate, a processor that
is optimized for gaming, and a
big battery, a press release
said.
The TECNO Spark 7 Pro has
aHD+ 6.6-inch Dot-in
Display. The device offers a
refresh rate of 90Hz for
smooth experience, and it
runs on HiOS 7.5 based
Android 11. Spark 7 Pro comes
with triple rear cameras
consisting of a 48MP main
sensor paired with a depth
sensor and AI lens. It has an
8-megapixel selfie camera in
the front.
TECNO Spark 7 Pro is
powered by a MediaTek Helio
G80 gaming processor. The
smartphone is backed by a
5,000mAh battery which
supports 10W fast charging.
The back panel of the phone
also features a fingerprint
scanner.
The smartphone will be
available in the Bangladesh
market from 2nd May 2021 in
retail stores and at a special
offer price in Daraz flash sale
from 29th to 30th April.The
TECNO Spark 7 Pro will be
available in Magnet Black,
Alps Blue, and Spruce green
colors. The device is priced at
Tk13,490 for the 4GB/64GB
storage version and Tk14,990
The 22nd Annual General Meeting (AGM) of Bank Asia Ltd was held virtually through digital platform due
to COVID-19 pandemic. A. Rouf Chowdhury, Chairman of the Bank, presided over the meeting today, 29
April, 2021. The AGM began at 11:00 am where all the participants including the bank's shareholders and
Board of Directors joined with their unique credentials. The bank had communicated every detail of the
virtual AGM with its shareholders earlier. Bank has declared 10% cash dividend for the year 2020 at the
AGM. Vice Chairmen Mohd Safwan Choudhury, Chairman of the Board Executive Committee Rumee A
Hossain, Chairman of the Board Audit Committee Dilwar H Choudhury, Chairman of the Board Risk
Management Committee M. A. Baqui Khalily, Directors Enam Chowdhury, Romana Rouf Chowdhury,
Ashraful Haq Chowdhury, Maj. Gen. (retd.) Mohammad Matiur Rahman, Md. Abul Quasem, Tania Nusrat
Zaman, President & Managing Director Md. Arfan Ali, Company Secretary S. M. Anisuzzman, other senior
officials and a large number of shareholders joined the AGM. Shareholders expressed their satisfaction
to the overall performance of the Bank and approved the accounts for the year 2020. Photo : AP
Samsung profit jumps by nearly
half on strong smartphone sales
SEOUL : South Korean tech giant
Samsung Electronics posted a 46.3
percent rise in first-quarter net profits on
Thursday, largely driven by robust sales
of its smartphones and home appliances
due to continued stay-at-home demand.
The firm is the flagship subsidiary of
the giant Samsung group, by far the
largest of the family-controlled empires
known as chaebols that dominate
business in South Korea, the world's
12th-largest economy.
The conglomerate is crucial to the
South's economic health - its overall
turnover is equivalent to a fifth of the
national gross domestic product.
Samsung Electronics said net profits
rose 46.3 percent in January to March
from a year earlier to 7.1 trillion won
($6.4 billion). "Solid sales of
smartphones and consumer electronics
outweighed lower earnings from
semiconductors and displays," the firm
said in an earnings report.
The figures came a day after Samsung's
controlling Lee family announced plans
to pay more than $10 billion in
inheritance taxes following the death last
year of chairman Lee Kun-hee - one of the
world's biggest-ever such settlements -
and donate a vast trove of art including
works by Picasso and Monet.
The coronavirus has wreaked havoc
with the world economy, with lockdowns
and travel bans imposed around the
globe for many months.
But the pandemic - which has killed
more than two million people worldwide
- has also seen many tech companies
boom, including Samsung.
Coronavirus-driven working from
home has been boosting demand for
devices powered by Samsung's chips, as
well as home appliances such as TV and
washing machines.