20-10-2022

THURSDAY, OCTOBER 20, 2022
8
Recently, B.M. College Road branch located at Lutfor Rahman Road in Nothullabad (Holding No. 1582) was
officially inaugurated by Mohd. Jamil Hossain, CMA, Senior Executive Vice President and Head of
Corporate Banking of the Premier Bank Limited attending the ceremony on behalf of Nahyan Haroon,
respected Director of the bank as the chief guest. Shaheed Abdur Rob, President of Barishal Press Club
joined the ceremony as the special guest. Rukshan-Ara Islam, Senior Executive Officer and Deputy
Manager of B.M College Road branch led the ceremony where Md. Reaz Uddin, Associate Vice President
and Manager of B.M. College Road branch; Golam Kibria Khan, Professor of B.M. College in Barishal; K.
M. Shafiqur Rahman, Vice President and Manager of Barisal Branch; Dr. Mohammad Nurul Islam,
Agriculturist and Director of Islamic Foundation; Md. Amir Hossain, Director of Infra Polytechnic
Institute; Md. Akter Hossain, Director of Chamber of Commerce; Mir Ahsan Uddin Parvez, Joint
Secretary-General of the central committee of Bangladesh Petrol Pump Owners Association; Local eminent
business personalities and dignitaries were also present in the inauguration ceremony. Photo:
Online process enables faster insurance
claims settlement within 72 hours
Due to convenience and
faster settlement compared
to paper-based process,
MetLife Bangladesh
customers are increasingly
using the company's easyto-use
online claims
submission platform, a
press release said.
Now 2 out of every 3
individual customers are
submitting their insurance
Tokyo stocks
open higher
extending
US rallies
TOKYO : Tokyo stocks
opened higher Tuesday as
investors took heart from
rallies on Wall Street on eased
worries over corporate
earnings, reports BSS.
The benchmark Nikkei 225
index was up 1.54 percent, or
413.56 points, at 27,189.35 in
early trade, while the broader
Topix index was up 1.29
percent, or 24.25 points, at
1,903.81.
"Japanese shares are seen
starting with gains following
US stocks rallies", where
concerns over corporate
earnings eased, senior market
analyst Toshiyuki Kanayama
of Monex said in a note.
Overnight, all three main
indices on Wall Street
rebounded, with the S&P 500
jumping 2.7 percent.
Bank of America became
the latest US financial
heavyweight to top estimates
following the reporting of
solid results by JPMorgan
Chase and other banks on
Friday.
Analysts have been hopeful
that a successful third-quarter
earnings season could reset a
market that has tumbled in
2022 due to worries over
inflation and Federal Reserve
interest rate hikes.
Meanwhile, Britain's fourth
finance minister in as many
months sensationally ripped
up a tax-cutting budget that
had spooked markets.
"Another big UK fiscal U-
turn and positive earnings
from BofA (Bank of America)
boosted global risk appetite,"
senior analyst Tapas
Strickland of National
Australia Bank said in a note.
claims online. MetLife's
state-of-the-art online
platform enables customers
to receive their claims
amount within 24-72 hours.
MetLife's Corporate
customers are also enjoying
the benefits of this online
claims submission platform
with 4 out of every 5
corporate medical claims
submitted online.
Most Salvadorans think
making Bitcoin legal
tender was ‘failure’
SAN SALVADOR : - More
than a year after Bitcoin
became legal tender in El
Salvador, a new poll
Tuesday showed most
people in the country
consider the controversial
move by President Nayib
Bukele as a "failure."
According to the poll by
the University of Central
America (UCA), 75.6
percent of respondents
said they never used
cryptocurrency in 2022,
and 77 percent consider its
adoption 14 months ago as
legal tender, alongside the
dollar, "to have been a
failure."
Bitcoin, whose value has
tumbled over the past year,
"is the government's most
unpopular measure, the
most criticized and the
most frowned upon," said
UCA rector Andreu Oliva,
commenting on the results
of the study, reports BSS.
Bukele's idea was to
promote crypto money
transfers from some three
million Salvadorans living
overseas, mainly in the
United States, to their
relatives back home,
thereby saving on bank
charges.
The president's decision
was a strategic one, given
that these remittances
make up more than a
quarter of El Salvador's
gross domestic product.
Commenting on the
benefits of online claims
submission, MetLife
Bangladesh's Chief
Executive Officer, Ala
Ahmad, said, "Getting
claims from insurance fast
and without any hassle is
one of the most important
experiences for customers
as it helps build confidence
on insurance. At MetLife,
But according to data
from the Salvadoran
Central Bank in early
September, a year after the
introduction of Bitcoin,
"less than two percent" of
remittances from
emigrants were made
using the cryptocurrency.
In September 2021,
Bitcoin was hovering
around $45,000. By
November it soared to
$68,000, but after a steep
drop it is currently trading
below $20,000.
Taking advantage of the
plummeting prices, Bukele
bought 80 Bitcoin with
public funds in July,
bringing El Salvador's total
reserves to 2,381 units.
According to the UCA
study, 77 percent of
Salvadorans believe their
president "should not
continue to spend public
money to buy Bitcoin."
The survey also looked
into an emergency regime
in place since March as
part of the "war" on gangs
decreed by Bukele, which
led to the arrest of 55,000
suspected members of
criminal gangs, the
dreaded "maras."
The population still
overwhelmingly approves
of it, at 75.9 percent, but
that figure was down nine
points from May, when it
was 84.8 percent.
we are investing in
advanced technology to
bring more people under
the protection of
insurance."
MetLife Bangladesh has a
strong track record of a
claims settlement. In the
first half of 2022, the
company has settled 1,279
Crore Taka of insurance
claims.
US, Mexican
presidents
discuss
migration,
security
MEXICO CITY : Mexican
President Andres Manuel
Lopez Obrador said he
discussed migration,
security and economic
development with his US
counterpart Joe Biden on
Tuesday, amid a simmering
trade dispute between the
neighbors, reports BSS.
Biden confirmed he would
attend the so-called "Three
Amigos" summit in Mexico
with Lopez Obrador and
Canadian Prime Minister
Justin Trudeau, the Mexican
leader said.
A date has yet to be
announced for the threeway
talks, which are
expected to be held
sometime in December.
"We had a cordial
conversation with President
Joe Biden on migration,
security and development
cooperation," Lopez
Obrador tweeted after the
telephone call.
"He confirmed to me that
he will visit Mexico to
participate in the North
American Summit," he
added.
Mexico faces a formal
trade complaint from the
United States and Canada
under a North American
trade deal, the US-Mexico-
Canada Agreement.
Washington and Ottawa
say Lopez Obrador's push to
boost the state's role in the
energy industry hurts
foreign investors and
hinders development of
clean energy.
United Airlines
bullish on air
travel despite
inflation
NEW YORK : United
Airlines reported strong
third-quarter results
Tuesday and said it does not
expect inflation and other
macroeconomic headwinds
to derail the travel industry's
comeback, reports BSS.
The major US carrier
improved in key revenue
benchmarks compared with
the comparable prepandemic
2019 stretch,
making the period "by most
metrics, the best operational
quarter in our history," as
Chief Executive Officer Scott
Kirby put it.
Compared with the 2019
quarter, United had about
10 percent fewer passengers
and also about 10 percent
lower seat capacity in the
just-finished quarter.
But revenues were about
13 percent higher, thanks to
lofty ticket prices in the wake
of torrid consumer demand.
"Despite growing concerns
about an economic
slowdown, the ongoing
COVID recovery trends at
United continue to prevail
and we remain optimistic
that we'll continue to deliver
strong financial results in
the fourth quarter, 2023 and
beyond," Kirby said.
Profits for the quarter
ending September 30 were
$942 million, about double
the year-ago level, with
revenues jumping 66
percent to $12.9 billion.
United pointed to three
"durable" industry-wide
trends that it expects to
override economic
headwinds: continuing
pent-up travel demand after
the coronavirus pandemic;
the beneficial impact of
hybrid work on travel
demand; and "external
supply challenges" that will
limit industry supply.
Obituary
Anwara Begum, wife of Exim
Bank's Business Director and
Chief Executive Mohammad
Feroz Hossain, passed away
on Wednesday, October 19,
2022 at 7:30 am at the
Bangladesh Specialized
Hospital in Dhaka. Innalillahi
wa Inna Ilaihi Raziun. He was
suffering from cancer for a
long time. His family prays for
the forgiveness of the soul of
the deceased.
UK unions seek final nail
in coffin of PM Truss
LONDON- As the sun beat down on Tuesday
on the English seaside resort of Brighton,
gathering union leaders warned of mass winter
strikes in the face of Britain's cost-of-living
crisis, reports BSS.
The Trades Union Congress (TUC)
conference kicked off with demands that
embattled Prime Minister Liz Truss step down.
That coincided with news that coffin makers
are the latest UK workers set to strike as their
pay fails to keep up with decades-high inflation.
In Brighton, on England's south coast, the
National Education Union's joint leader was
categorical.
"It's inevitable that Liz Truss will go," Kevin
Courtney told AFP, as the prime minister
battled to stabilise her position after an
economic crash forced her into humiliating U-
turns on tax cuts.
"The total loss of credibility she's had means
that there's no way the Conservative party will
have her as their leader when they go into the
next general election," he predicted.
"They should call an election now."
In a packed Brighton conference hall,
outgoing TUC general secretary Frances
O'Grady also demanded that the prime
minister step down.
"I have a message for Liz Truss: Working
people are proud of the jobs we do. We work
hard. We work the longest hours in Europe,"
she told delegates, who responded with loud
applause. "Yet thanks to your party's 12 years in
government, millions are struggling to make
ends meet."
Keir Starmer, leader of the main opposition
Labour party, is due to address the TUC on
Thursday, when the conference wraps up.
While unions are traditionally allied to the
Labour party, Starmer is expected to face a
frosty reception after refusing to support the
latest strike action and banning MPs in his
senior team from joining picket lines.
It comes as tens of thousands of teachers and
state-employed health workers are being
balloted on possible walkouts.
Should they strike, they will join tens of
thousands of railway and postal staff carrying
out some of Britain's biggest stoppages in
decades.
"If I was the government, I would be very
worried about it," Courtney said.
He dismissed suggestions that teacher strikes
would harm children already having to catchup
on learning because of earlier Covid
lockdowns. "We really do not want to go on
strike but we'll be harming children by not
going on strike.
"Having held down pay for so long, we have
real problems with recruiting young people to
come into teaching and we're losing loads of
people out of teaching," the union leader
insisted.
The TUC conference had been due to take
place last month but was delayed following the
death of Queen Elizabeth II. That also triggered
the postponement of strikes as a mark of
respect.
Across the Channel, France faced disruptions
on Tuesday after unions there called a
nationwide transport strike.
At the entrance of the Brighton conference
centre looking out toward France, chanting
conference attendees made their feelings
known, urging the TUC umbrella group to also
call a general strike.
Arif Quadri, Managing Director & CEO, United Commercial Bank Limited is
inaugurating the 222nd Sadarpur, Faridpur Branch of United Commercial Bank
Limited as the Chief Guest along with Deputy Managing Director & Company
Secretary of UCB ATM Tahmiduzzaman FCS and Executive Vice President and
Head of Brand Marketing & Corporate Affairs Division Abul Kalam Azad and
other officials.
Photo: Courtesy
UCB inaugurates 222nd
Sadarpur Branch
The 222nd Sadarpur Branch of United
Commercial Bank Limited (UCB) was
inaugurated on 19 October 2022 at
Sadarpur, Faridpur. Arif Quadri, Managing
Director & CEO, United Commercial Bank
Limited inaugurated the Branch as the Chief
Guest, a press release said.
Among others Deputy Managing Director
& Company Secretary of UCB ATM
Tahmiduzzaman FCS and Executive Vice
President and Head of Brand Marketing &
Corporate Affairs Division Abul Kalam Azad
along with other officials of the Bank were
present at the event.
Managing Director stated, 'UCB is firmly
contributing as catalyst to the enhancement
of entrepreneurship and everybody's
assistance is highly desired to broaden our
service more.'
United Commercial Bank Limited, one of
the largest private commercial banks of the
country is committed to give the best service
to clients with a wide range of branch
networks all over the country since 1983.
Islami Bank Bangladesh Limited organized exchange of views program with Bangladeshi Expatriates at a Hotel
of Rome, Italy recently. Mohammed Monirul Moula, Managing Director & CEO of the Bank was present in the
program as the Chief Guest. Presided over by J Q M Habibullah, FCS, Additional Managing Director, Md.
Habibur Rahman, Executive Vice President addressed the welcome speech. Iqbal Hasan Jony, General
Manager, National Exchange Company SRL, Md. Hamid Alam, Manager, First Security Islami Exchange Italy
SRL, Nico Tomi, CEO of Placid Express SRL, Kazi Md. Mizanur Rahman, Managing Director, Janata Exchange
Company SRL along with other business leaders and members of the Bangladeshi community living in Rome
were present on the occasion.
Photo: Courtesy