business
RMG exports growth over 10% in first 11 months of FY2022-23
The Export Promotion Bureau (EPB) has released the country wise export data for the July-May period of FY2022-23.
The total RMG export during this period has reached USD $42.63 billion with 10.67% year-over-year growth.
Read: Bangladesh Bank to announce new monetary policy tomorrow, 9% interest rate cap to be withdrawn
Out of this total RMG export, $ 21.22 billion went to the EU market with a share of 49.78% of total export, BGMEA Director Md. Mohiuddin Rubel said on Saturday.
The UK held a share of 10.77% and total $ 4.59bn has been exported to the UK; $ 7.73bn has been exported to the USA market, which had a share of 18.14% of total export; Canada held a share of 3.26% and total $ 1.39bn has been exported to Canada, and $ 7.69bn went to the Non-traditional market which had a share of 18.04%, it said.
The European Union has contributed significantly to this growth as it is Bangladesh's largest RMG export destination, with 9.94% growth and $ 21.22 billion of export during July-May 2022-23 compared to $ 19.30 billion, Mohiuddin, additional managing director of Denim Expert Limited, said.
RMG export to Germany has declined by 7.22%, with a total export of US$ 6.03 billion compared to $ 6.50 billion in July-May 2021-22.
Read: Islamic banks can encourage youth-led startups to generate employment: Dr Salehuddin
In France and Italy, exports have increased by 23.4% and 44.81% with $ 2.6 billion and $ 2.06 billion of exports respectively.
During the FY, exports to the USA dropped by 5.07%, from $ 8.14 billion to $ 7.73 billion while exports in the UK and Canada have grown by 12.17% and 17.62%.
Read: Eid-ul-Azha 2023: 5 Bangladeshi Online Cattle Markets to Check Out this Eid
At the same time, the export to non-traditional markets has increased by 32.74%. Among the major non-traditional markets, Japan has shown 45.80% positive growth while Russia and Chile have shown 28.82% and 11.79% negative growth respectively, it added.
Gulf Air rewards top agents
Gulf Air, the national carrier of the Kingdom of Bahrain, has conferred awards on top agents that put up an outstanding performance in sales in the year 2022.
To this end, the airline, which was named the winner of the World’s Most Improved Airline at the Skytrax World Airline Awards 2022, arranged an agent night at Renaissance Dhaka Gulshan Hotel on Thursday, according to a press release.
Read: Bangladesh Bank to announce new monetary policy tomorrow, 9% interest rate cap to be withdrawn
Gulf Air has celebrated such a tremendous success in sales in collaboration with its GSA I-Business Holding Limited based in Bangladesh.
Gulf Air’s country manager to Bangladesh Isa Shah, airport manager of Gulf Air Bangladesh Jassim Ghareeb and Maruful Islam Jhalak, managing director of I-Business Holding Limited – the GSA of Gulf Air, handed over awards to top independent agents.
Maruful Islam Jhalak said, “Agents are playing a significant role in boosting Gulf Air’s business. We shine because of agents who act as our stars.”
Read: Walton sees surge in fridge sales ahead of Eid-ul-Azha
Only because of the agents, Gulf Air has stayed attuned to customer needs and continues to enhance its overall services quality, eventually strengthening the airline’s business and market presence, he added.
Isa Shah said, ‘What we are today is because of our hardworking agents. Their dedication, market insights and commitment to customers have played a vital role in making Gulf Air’s business stronger and enhancing its reputation in the aviation industry.’
They are contributing to ticket sales, providing personalised services, offering expert advice, and thus helping Gulf Air better understand its customers in this region, he noted.
Read: Workers of Forest Department’s SUFAL project to get wages through Nagad
Regarding agents contribution to Gulf Air’s business growth, Tanvir A Mishuk, chairman of I-Business Holding Limited, said, ‘Agents are our partners. Their outstanding efforts in promoting Gulf Air’s services, driving ticket sales, and providing exceptional customer support have been instrumental in the airline’s success. These agents serve as valuable ambassadors, representing Gulf Air in Bangladesh’s market as well as ensuring seamless travel experience for passengers.’
Bangladesh Bank to announce new monetary policy tomorrow, 9% interest rate cap to be withdrawn
Bangladesh Bank is ready to announce a contractionary monetary policy statement tomorrow, withdrawing the single-digit interest cap to combat rising inflation, the central bank sources said.
Usually, contractionary monetary policy is used to contain inflation and reduce the level of money circulating in the economy.
Governor of Bangladesh Bank, Abdur Rouf Talukder, will release the policy statement for the first half (July-December) of FY 2024 at a press conference in Bangladesh Bank tomorrow.
Read: Central bank to announce new monetary policy soon with focus on macroeconomic stability
The chief of BFIU, deputy governors, Chief Economist, executive director of the Research Department, and concerned officials of Bangladesh Bank will be present at the event.
The central bank formulates monetary policy to create a balance between inflation and achieving the desired growth.
When asked about the new monetary policy, Bangladesh Bank Executive Director and Acting Spokesperson, Abul Bashar, told UNB that the central bank governor will officially announce the monetary policy tomorrow. “This monetary policy will focus more on controlling inflation, and the introduction of a single currency exchange rate,” he said.
Besides, there will be new announcements on interest rates and the current 9 percent cap will be waived and rationalized, he said.
Read: Bangladesh Bank unveils cautionary monetary policy to curb inflation and exchange rate
According to Bangladesh Bank sources, the central bank will introduce a new system by removing the existing 9 percent interest rate limit on loans. The interest rate will be effective from July 1, the first month of the new fiscal year.
Read more: BB will announce new monetary policy on June 30
Islamic banks can encourage youth-led startups to generate employment: Dr Salehuddin
Former governor of Bangladesh Bank, Dr Salehuddin Ahmed, on Saturday said Islamic banks can work to encourage youth=led startups for employment by providing investment in nominal profit margin, which is the broader perspective of Islamic finance.
He said this while speaking as the chief guest at the inaugural ceremony of the Bangladesh Institute of Islamic Finance (BIIF), a training institution for Islamic financing, held at Motijheel.
READ: Walton sees surge in fridge sales ahead of Eid-ul-Azha
Professor Mahbub Ahmed of DU, founding chairman of BIIF, presided over the event. Dr Muhammad Fouzul Kabir Khan, former secretary; Dr Muhammad Abdul Mazid, former chairman of the NBR; Farid Uddin Ahmed, Chairman of the Executive Committee of Central Sharia Board for Islamic Banks of Bangladesh; Professor Dr. Mahmuda Akhtar, Executive President of Bangladesh Institute of Capital Market (BICM); Professor Dr. Abdul Latif Masum, former VC of Patuakhali Science and Technology University (PSTU); and Dr M Abdul Aziz, founding director of BIIF, also spoke at the event.
Dr Salehuddin said, higher interest and compound interest work as a barrier for entrepreneurs, this is why Europe and the United States have formed separate equity systems for Islamic financing along with the research panel.
Eid-ul-Azha 2023: 4 Bangladeshi Online Cattle Markets to Check Out this Eid
Qurbani Eid 2023 festival is just around the corner. Like every year, Muslims in Bangladesh are eager to purchase sacrificial animals. However, visiting the animal haat (markets) physically to buy sacrificial animals during this sweltering summer heat can be a daunting task for many. Keeping all this in mind, different online platforms are once again starting online cattle markets.
4 Online Cattle Markets in Bangladesh for Eid-ul-Azha 2023
Purchasing sacrificial animals online has become more common nowadays, and fortunately, there are online Qurbani haat available in Bangladesh. Let’s explore these “digital haat” in detail.
Bikroy Birat Haat Powered by Minister
To celebrate the upcoming Eid-ul-Azha, Bikroy.com, a renowned platform for buying and selling livestock, has joined hands with Minister Hi-Tech Park Ltd., a well-known manufacturer of electronics and home appliances, and OPPO Bangladesh, a global mobile manufacturing company. Together, they have organized a Qurbani campaign called ‘Bikroy Birat Haat Powered by Minister.’
Read more: Eid-ul-Azha 2023: Cumilla to have a surplus of 8,606 sacrificial animals, says livestock dept
Just like every Eid-ul-Azha, Bikroy is once again offering a special collection of farm animals exclusively for its valued customers. The Bikroy website already showcases over 1,600 advertisements for livestock.
To boost the popularity of Bikroy online haat, like every year, the company also launched the Birat Haat Contest. However, this year the contest will be different. Minister has taken on the role of Title Sponsor for the seventh consecutive time, while OPPO has joined as an Associate Partner for the first time. To participate in the Birat Haat contest, individuals are required to create a video following the theme song of Birat Haat along with its catchy dance step. The video should be shared on either one or all of the respective Facebook, TikTok, and YouTube profiles with the #BiratHaat2023 caption.
Additionally, participants are also required to submit the video link to the Bikroy Blog site. Among the submitted videos, 18 lucky winners will be chosen based on their entertainment value and uniqueness.
Read more: PM accepts cow as gift from couple for Eid-ul-Azha sacrifice
For the Member contest, 15 winners will be selected from sellers across all categories who have the highest number of ads, the most views, and ad responses. All winners will be rewarded with exciting prizes such as refrigerators, LED TVs, smartphones, and more, with a total value of BDT 6 lakh, sponsored by Minister Hi-Tech Park Ltd. and OPPO Bangladesh.
Bengal Meat Qurbani
On June 1 of this year, Bengal Meat announced the launch of the Qurbani portal for the 9th consecutive year. They sell organic grass-fed cattle, offering a unique and distinct option for customers.
Customers have the convenience of ordering their preferred cattle through the online platform, and the cattle are then delivered while maintaining the necessary quality.
Sadeeq Agro
Popular livestock farm Sadeeq Agro also arranged online cattle haat this year. The buyers can check their website to order any cattle they like. The site provides weight, and all other required information regarding the cattle. However, buyers can also visit their farm to see the cow and verify the weight.
Read more: Bhaijan now coming to Jashore
Qurbani cows can be ordered up to 7 days before Eid-ul-Azha. However, the buyer will be required to pay 10% in advance. The cost of cows vary as per the weight. After the order, Sadeeq Agro will deliver according to the customer’s preferred date. The best thing about Sadeeq Agro is that they do not have any delivery charges. And they deliver anywhere in the Dhaka metropolitan area.
Khaas Food
This year, Khaas Food has launched an Online Qurbani Haat, aiming to provide a convenient platform for purchasing sacrificial animals. It features a diverse selection of cows sourced from numerous farms and breeds. Each cow comes with detailed information, including weight, age, height, feed, gender, and colour.
Additionally, Khaas Food ensures transparency and clarity regarding the health of the cattle by specifying the vaccines they have received. To secure a booking, customers are required to make an upfront payment of 50% via bKash or credit card, with the remaining amount due before delivery. Delivery of sacrificial animals will be completed in 2-4 days before Eid. BDT 3000 is applicable for delivery charges. In this case, the delivery will be done according to the order of booking and the customer’s demand.
Final Words
For the last few years, the trend of Online Qurbani Haat in Bangladesh has revolutionized the way people participate in the tradition of animal sacrifice. The digital platform provides convenience, accessibility, and a wide range of options for individuals looking to purchase sacrificial animals. However, it is upon the buyers, to check all the detailed information such as breed, weight, age, height, feed, gender, and colour before purchasing a cattle. Thus, buyers can choose the best sacrificial animals from the online cattle markets for the holy occasion of Eid-ul-Azha.
Read more: With Eid-ul-Azha approaching, Khulna cattle famers distraught over price hike of fodder
Walton sees surge in fridge sales ahead of Eid-ul-Azha
Local electronic brand Walton reported a surge in fridge sales across the country centering the upcoming Eid-ul-Azha, one of the biggest religious festivals of Muslim to be observed at the end of this month, according to a press release.
Dealers and sales executives of Walton from across the country including Chattogram, Rajshahi, Khulna, Rangpur, Bogura, Sylhet and Narsingdi reported huge sales of their fridges, the release added.
According to them, like previous years both the demand and sales of Walton fridge have increased ahead of Qurbani Eid (Eid-ul-Azha) and the crowds are increasing every day before the Eid.
Read: Workers of Forest Department’s SUFAL project to get wages through Nagad
Tofail Ahmed, chief business officer of Walton Refrigerator, said that about 75% of the customers keep their trust and faith in Walton Refrigerator. To keep it up, Walton is delivering the highest number of models of fridges featured with huge energy efficient advanced technologies. In this Eid, more than 250 designs and models of refrigerators are available for customers of all classes of buyers. In addition, the opportunity to get free cars and lots of gifts by buying Walton fridge under the digital campaign is also pushing the sales of Walton fridge to go up, he added.
On the occasion of Qurbani Eid, Walton started digital campaign season-18 across the country on 15 May. In this season, buyers are getting lakhs of gifts including free cars by buying fridge, TV, air conditioner or washing machine from any Walton Plaza, distributor showroom and online sales platform e-plaza in the country. Buyers will get this facility till July 15, 2023.
Read: Transcom Digital launches Hitachi’s Eclipse washing machine
In this eid, more than 250 models of frost, non-frost refrigerators and freezers of Walton brand with a capacity of 50 liters to 646 liters are available in the market. Among these, over 50 new models of fridges with advanced features and doors are released centering the Qurbani Eid. The new models include huge energy efficient inverter technology' advanced features AIoT based smart side by side refrigerator, glass doors, BSTI's highest 5-star energy rating certified frost and non-frost fridges. Besides, Walton brand's 22 models of freezers are also available in this Qurani Eid. Buyers can buy these Walton fridges between Tk 17,000 and Tk 1,55,000.
During Eid-ul-Azha, there is a need to store a large amount of meat. Due to the turbo cooling technology in Walton fridges, the refrigerator and freezer parts become cool within a very short time.
Read: Bangladesh Bank set to approve digital bank policy on June 14
In this Eid, vertical freezer with a capacity of 325 liters, convertible freezer with a capacity of 255 liters and the world's first 8-in-1 convertible refrigerator with a capacity of 646 and 619 liters are the new surprises of Walton. The 255-liter convertible mood freezer can be converted into a normal fridge as needed. The customer can set the cooling performance of the fridge and freezer compartment of Gianttech series 8-in-1 convertible mood 646 liter GT Pro and 619 liter GT model refrigerators. It will consume less electricity.
Buyers are getting one year replacement warranty, 12-year compressor guarantee and 5-year free after-sales service on Walton fridge. Walton has the largest team of service experts and ISO certified service management system in Bangladesh to deliver fast and best after sales service to customers. Under this, Walton is providing the highest level of after-sales service at a very short time to the customers through its nationwide 80 service centers spread across the country.
Meeting the local market demand, the 'Made in Bangladesh' tag Walton manufactured fridges are being exported to various countries in Asia, the Middle East and Africa including India, Nepal, Bhutan, Maldives, Nigeria, Uganda, Iraq, Saudi Arabia, Mexico.
Interbank dollar exchange rate jumped to Tk109
The interbank exchange rate of the US dollar jumped to the highest ever Tk109 in the banking channel amid the scarcity of foreign currency.
Bangladesh Bank (BB) on Thursday revealed the data that interbank transactions occurred at Tk109 on Wednesday. Earlier in May this year, the dollar was exchanged at Tk108.75.
According to the latest data, on Wednesday, banks exchanged dollars among themselves from Tk 108.3 to Tk 109.
Read:Nagad became a billion-dollar company in just 3 years, 5 more Bangladeshi unicorns by 2025: Palak
Analysis of the data, the exchange rate of the dollar in inter-bank transactions has increased almost every working day in the current month. On June 1, the price per dollar was Tk108.
A year ago, the exchange rate for US dollar in interbank transactions was Tk92.8. That is, the domestic currency (Taka) has depreciated by 14.86 percent or Tk16.2 in contrast to a year.
Read: US Dollar rate Tk108.5 for remittance, Tk107 for exports from Thursday
The sector concerned said, the reasons for declining the price of the Taka against the US dollar, affected import costs and pushed the commodities price further in the local market. But on the contrary, there is not much momentum in export and remittance earnings.
Read more: Interbank dollar exchange rate hit another record high
Chinese company to invest US$ 76.41 million at BEPZA Economic Zone
Chinese Company Mingda (Bangladesh) New Material Co Ltd is going to invest USD $76.41 million at BEPZA Economic Zone for producing diversified products.
The company signed an agreement with Bangladesh Export Processing Zones Authority (BEPZA) to this effect at BEPZA Complex, in Dhaka on Thursday.
Ali Reza Mazid, Member (Investment Promotion) of BEPZA, and Huang Shangwen, Director of Mingda (Bangladesh) New Material Co. Ltd signed the agreement on behalf of their respective organizations.
Also read: Chinese envoy lauds FAO’s role in Bangladesh’s agriculture development
BEPZA Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman witnessed the signing ceremony.
BEPZA Executive Chairman thanked Mingda (Bangladesh) for choosing Bangladesh as well as BEPZA EZ as their investment destination.
He said that BEPZA mainly emphasized on three things to establish a factory in EPZ- diversified products, amount of investment, and employment. He urged Mingda (Bangladesh) to start the construction of the factory as early as possible and requested for the optimum use of land.
Also read: Chinese company to invest $6 million in BEPZA Economic Zone
Huang Shangwen, Director of Mingda (Bangladesh) said that they have some factories in China. Now they are going to set up factories in Bangladesh due to increasing wages of workers of China.
Mingda (Bangladesh) will produce different Cotton products including Imitation Silk Cotton, Tile Cotton, Needle Punched Cotton; different types of Artificial/Manmade Fabric, Artificial Fabrics including Geotextile; different Hospital products and Bags & Packaging Items including Geo-bag, Non-woven bag etc. 2830 Bangladesh nationals will get employment opportunity in the factory.
Also read: China says PM Hasina's remarks against sanctions reflect a ‘large part of int'l community's mind’
Among others, Member (Engineering) Mohammad Faruque Alam, Member (Finance) Nafisa Banu, Executive Director (Investment Promotion) Md. Tanvir Hossain, Executive Director (Enterprise Services) Md. Khorshid Alam and the Project Director of BEPZA EZ Mohammad Anamul Haque were present during the signing ceremony.
Including Mingda (Bangladesh), BEPZA signed lease agreements with total of 21 companies of home and abroad to establish factories in BEPZA EZ and their total proposed investment exceeded over US$ 500 million.
Also read: Bangladesh, China interested in contributing to regional connectivity under BRI
10 Ways You Can Improve Your English Pronunciation
Mastering good English pronunciation is vital for better communication. It enables you to effectively convey your ideas and engage others better. Unfortunately, some underestimate the significance of pronunciation and believe it to be less important than other components of the English language. With better English pronunciation, one can gain confidence, enhance overall communication skills, and boost social abilities.
10 Tips for Improving Your English Pronunciation
To speak English fluently, developing a clear pronunciation is a must. However, pronunciation and accent are not the same. Pronunciation involves producing sounds, articulating words, and mastering intonation. Accent encompasses pronunciation, word usage, and grammar. Non-native speakers often have accents influenced by their native language's sounds. Pronunciation is a physical skill. Here are some tips to improve pronunciation.
Listen and Incorporate
To improve your English pronunciation, start listening to native English speakers in real life or virtually. Pay attention to how they pronounce words and sentences. Then, practise repeating what you hear to develop a better understanding of the language's natural rhythm and intonation.
Read more: Duolingo English Test: Everything You Need to Know
By imitating native speakers, you can train your mouth and ears to reproduce English sounds more accurately. This will help you communicate more effectively and with more confidence. Remember, practise makes perfect, so keep practising, and you will see improvements in your pronunciation.
Focus on Individual Sounds
Focus on specific sounds that you find difficult to enhance your English pronunciation. Identify the consonants, vowels, or combinations that challenge you. You can utilise online resources or language learning apps that offer exercises for each sound. Practise saying these sounds out loud, paying attention to how your mouth moves. Repeat them regularly to build muscle memory.
Also, concentrate on individual sounds and practise them consistently. Gradually, you will overcome pronunciation difficulties and speak English more clearly. Do not give up; keep practising, and surely you will see the results soon.
Read more: 10 Best Free Android Apps to Learn English Vocabulary
Slow Down
Take a moment to slow down and embrace the art of deliberate speech. Take a moment to slow down and give yourself the time to think through each word's pronunciation. By speaking at a more relaxed speed, you can ensure that you are articulating each sound correctly.
Deliberately pausing between words and phrases creates a space for conscious reflection. Take advantage of this time to mentally review the sounds and patterns, refining your pronunciation with each utterance. Enjoy the journey, savouring each step towards confident and accurate pronunciation.
Use Pronunciation Guides
Look for dictionaries, online tools, or resources that provide simple explanations and symbols to show how a specific word should be pronounced. You can learn from YouTube channels where tutors discuss pronunciation guides.
Read more: Everyday Habits to Learn English Successfully
The International Phonetic Alphabet (IPA) symbols can help you understand the correct way to say the word. By using these guides, you can learn the right pronunciation for each word’s sound and confidently apply it to your speech.
Record and Compare
Record yourself speaking using mobile apps or recorders. Then listen attentively, comparing it to recordings of fluent English speakers. Pay close attention to any discrepancies in pronunciation and identify areas for improvement. By pinpointing the gaps, you can work diligently to refine those specific areas of pronunciation.
Embrace this self-assessment process as a valuable tool for enhancing your pronunciation skills. With each comparison, you will gain a clearer understanding of the differences and take crucial steps towards bridging the gap between your current pronunciation and that of native speakers.
Read more: Best Free Websites to Improve English Writing Skill
DESCO Job Circular: 122 people will be recruited in 3 category positions
Dhaka Electric Supply Company Limited (DESCO) will recruit circular 122 people in three category positions on full temporary basis under outsourcing in Gulshan zone for the next three years.
Interested candidates should apply online.
2023 DESCO Recruitment Cicruclar (Temporary Posts)
1. Post Name: Security Inspector
No of Posts: 2
Qualification: Minimum HSC or equivalent pass. Height minimum 5 feet 4 inches. Weight minimum 55 kg and maximum as per BMI. Must be in good health and the final selected candidate will have to pass the medical examination conducted by the Retainer Doctor appointed by DESCO.
Retired minimum JCO rank officer from Army, Navy, Air Force, BGB, Police/Prison Guards and Ansar forces or with minimum three years working experience as officer in reputed security service provider. Previous service record should be good and certificate from appropriate authority should be submitted in this regard. Security guards must be qualified to provide training and supervision. Should be proficient in driving a motorcycle and should have a driving license.
Age:
18 to 55 years (Age limit 47 years at the time of application).
Salary:
Gross monthly salary is TK.27,000.
Also read: Jobs in Biman Bangladesh Airlines, Post 40
2. Post Name: Security Guard (Male)
No of Posts: 110
Eligibility: Class VIII or equivalent pass. Height minimum 5 feet 4 inches, weight minimum 55 kg and maximum as per BMI. Must be in good health and the final selected candidate will have to pass the medical examination conducted by the Retainer Doctor appointed by DESCO. Must be proficient in writing, reading and speaking Bengali.
Age: 18 to 50 years (age limit 35 years at the time of application).
Salary:
Gross monthly salary is TK.18,000.
Alsoc read: Job Circular in Rampal power plant 2023: 12 people will be appointed in five category posts
3. Post Name: Security Guard (Female)
No of Posts: 10
Eligibility: Class VIII or equivalent pass. Height 5 feet, weight minimum 50 kg and maximum as per BMI. Must be in good health and the final selected candidate will have to pass the medical examination conducted by the Retainer Doctor appointed by DESCO. Must be proficient in writing, reading and speaking Bengali.
Age:
18 to 50 years (age limit 35 years at the time of application).
Salary:
Gross monthly salary is TK.18,000.
Also read: Job Circular: Bangladesh Police to recruit sub-inspectors
How to apply
Interested candidates have to apply by filling the 'Online Application Form' on the DESCO website (https://www.desco.gov.bd/) .
Scanned photograph, signature, latest educational qualification, copy of experience certificate (if applicable) should be uploaded along with the online application form.
Instructions displayed on the DESCO website should be duly followed for filling the application form. Detailed information regarding recruitment can be found in this link (http://desco.portal.gov.bd/sites/default/files/files/desco.portal.gov.bd/job_information/06c53a9a_fd5b_4ba2_848b_c9323608c4d4/2023-06-06-11-55-aa01c6f6505e05f65fd63ae3362ac8ed.pdf) . Before applying DESCO Outsourcing Recruitment Policy-2023 and related terms and conditions should be read carefully.
Read more: Jobs in Dhaka Metrorail 2023: Written-Practical Exam Schedule Released for 3 Posts of Metrorail
Application fee
The application fee of Tk 500 should be paid through Dutch-Bangla Bank Limited's mobile banking service 'Rocket' following the guidelines displayed on the DESCO website.
Last date of application: June 26 2023, up to 12 midnight.