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46
What makes a good leader? The answer varies widely depending on who you ask, with researchers disagreeing on the critical components that go into the most effective corporate chief. But there are traits they do agree on, including personality components and acquired skills. Some believe even the situation for leadership itself has a bearing on the effectiveness of the leader.
Important Leadership Skills

Commitment, resolve and perseverance - driving every aspect of the organization toward a singular unified purpose.
Risk-taking - breaking conventions and developing new products and services to establish marketplace dominance (and possibly even create a unique market).
Planning - though a leader typically doesn't get too involved in the details, he or she must orchestrate a high-level plan that drives everyone toward the unified goal.
Motivating - an effective leader must be able to encourage contributions from the entire organization, navigating the specific motivators of each individual or group to push the right buttons and inspire employees at every level to achieve not only their personal best but the best for the organization as a whole.
Communication skills that rely on active listening - far more than just being able to speak and write persuasively, leadership communication skills incite others to work toward the stated goal in line with the path the leader has chosen.
Possessing or obtaining the skills required to successfully achieve business goals - bringing a unique knowledge set to the table or acquiring it personally or through employees and other subordinates.
What Makes These Individual Skills So Important?

First, a distinction needs to be made: the difference between a leader and a manager. A leader is someone who does the right thing, whereas a manager does things right. Or to put it another way, management is an occupation, leadership is a calling.

As addressed in the list above, this calling demands a unique vision for success and the tools necessary to communicate and implement that vision. The leader must possess a set of clearly-defined convictions and the daring and skill to translate their vision into a reality. This is why many people believe, as seen in What Motivates True Leaders, that the most successful development of leadership skills takes place when the leader is geared toward the development of individuals or social constructs. This foundation creates a drive and a passion that many believe cannot be replicated or faked in situations where the leader is concerned solely with financial returns.
With effective leadership, all participants within the organization are confident someone they know is working towards the greater good, both on their behalf personally and that of the company, as well as the larger impact created by the specific product or service. And within this system, one of the most critical elements to success is a leader in whom they can place their trust. That's because true leadership is about taking people to places they would not or could not go on their own. And achieving that level of loyalty and dedication is next to impossible without the genuine allegiance inspired by true leadership skills.

47
Business & Entrepreneurship / Leadership vs. Management
« on: April 20, 2017, 06:09:40 PM »
Many people quickly assume that being a good leader means you're a good manager and vice versa. The two concepts are actually quite distinct and understanding that distinction can help you understand what it means to be good at either or good at both.
What are the Key Characteristics of Management?

From a broad perspective, management is smaller scale and more focused on details than leadership. The leader sets the vision and the broad plan, the manager executes it and does what is needed to achieve that plan. Key characteristics of management are:
A tactical focus on aspects of the organization's strategy
Executing on specific areas within their responsibilities
Formulating and enforcing the policies of a business to achieve its goals
Directing and monitoring their team to achieve their specific goals
Management and containment of risks in an organization
Short term focus with attention to the details
What are the Key Characteristics of Leadership?

Leadership is setting the tone of an organization, the broad objectives and long term goals will come from the leader, and then managers need to execute on a plan to attain them. Leadership is not necessarily getting caught up in all the details but rather setting the plan and inspiring people to follow them. Key characteristics of leadership are:
Strategic focus on the organization's needs
Establishing goals and the strategic direction
Establishing principles
Empowering and mentoring the team to lead them to their goals
Risk engagement and overall identification
Long term, high level focus
Which is more important?

Any organization or business needs people who are good at both leadership and management if they are going to succeed. With good management and poor leadership they will be able to execute everything very well, but will be doing so without a consistent direction and overall strategy. With good leadership and poor management a company will have the goals and inspiration to succeed, but no one to execute the plan on how to get there.

Emphasis needs to be placed equally on both areas if an organization wants to thrive.
Can someone do both?

Good leaders and good managers are not often the same person, the few people that excel at both tend to be overwhelmingly successful in achieving their goals. Management and leadership skills are in some ways very opposite from one another, short vs. long term, big picture vs. detail oriented, etc. It can be very difficult for one to split their time between the two and excel at both. Often organizations that succeed have a mix of individuals, some who excel at leadership and some who excel at management.

While it's good for anyone to clearly understand which they excel at more, being aware of the other characteristics is important. Just knowing what it takes to be a good leader can make you more aware of yourself even if you know you tend to be an excellent manager. Understanding the differences between leadership and. management can ensure you see where you can improve and what else you should be thinking about, and not assume you are simply excellent at both. Ultimately this can make you both a better leader and a better manager.

48
Business & Entrepreneurship / Venture Capital vs Crowdfunding
« on: April 20, 2017, 06:08:46 PM »
The primary difference between venture capital and crowdfunding is simply equity. Venture capitalists acquire equity in the startup. Crowdfunders do not. Instead, crowdfunding is much more like a high-risk pre-order platform, where there's a reasonable probability that the startup may fail to deliver the pre-order.

Read more: http://www.businessdictionary.com/definition/venture-capital.html

49
The primary differences between VC vs seed & angel investing are timing in the company's lifecycle, monetary size, and deal structure.

Timing. Venture capital is typically not used for extremely early funding. Instead, these rounds are often called "Series AA," or "Pre-A" rounds, and include funding from friends & family, angel investors, and seed stage financing syndicates and firms. Venture capital firms usually get involved at the Series A round and after (all happening after the AA or Pre-A rounds). Although both VC and seed/angel investing are high risk investments, seed & angel investing usually happen in the earliest stages of a startup when the risk is ultra-high.

Funding Amounts. Venture capital also usually starts with companies that are slightly more mature (although not necessarily profitable), with higher valuations, and higher funding amounts. Funding amounts in angel & seed investing typically range from a couple thousand USD through to one million USD, while venture capital is usually millions, tens of millions, or even hundreds of millions of dollars.

Deal Structure. Angel investing also frequently uses different deal structures than VC, although this is primarily to reduce legal costs, cut transaction overhead, and rapidly accelerate the rate at which the startup and angel investor can agree on terms. Some of these alternative structures include convertible notes and SAFEs ("simple agreement for future equity"). Unlike venture capital, convertible notes and SAFEs don't actually transfer equity in the company to the investor until a later date, and in the case of failed startups, sometimes not even at all.

Read more: http://www.businessdictionary.com/definition/venture-capital.html

50
Business & Entrepreneurship / venture capital
« on: April 20, 2017, 06:07:45 PM »
Venture Capital vs Loans

Although loans and venture capital are both common methods for funding businesses, venture capital is very different from a loan.

With a loan, a lender gives a company money, and the company has a contractual obligation to pay back that amount plus interest over some period of time. Sometimes the loan is backed by assets (like equipment or inventory) or receivables. In the case of many small businesses, the loan is backed by a personal guarantee from the business owner. This backing allows the lender to recoup some of its investment in case the lendee defaults (fails to make payments)

With venture capital, the startup company issues private shares in exchange for money.

The venture capitalist's partnership fund actually becomes a partial owner of the startup. Additionally, venture capital is usually only used with high growth industries, where risk is much higher. In these cases, there are little or no assets to back the loan in the event of default so the likelihood of obtaining a loan is much lower, and the potential payouts must be drastically higher to result in a successful investment.

Read more: http://www.businessdictionary.com/definition/venture-capital.html

51
Business & Entrepreneurship / Information Risk Management Policy
« on: April 20, 2017, 06:00:31 PM »
1/4
Information Risk Management Policy
1. Purpose
This policy and its sub policies and associated procedures define how the British Library will
manage information risk. It is intended to ensure that all security, compliance and other risks to
the British Library’s corporate information are identified, analysed and managed so that they are
maintained at acceptable levels. This includes risks to the confidentiality, integrity and availability
of Library information.
This policy lays the framework for a formal information governance programme (focusing
primarily on risks to information assets) by establishing responsibility for risk mitigation,
programme management and oversight of the information policy framework.
The policy fits within the Library’s overall business risk framework, and will need to be read in
conjunction with the corporate Risk Management policy and processes.
2. Scope
This policy applies to all British Library Divisions, their staff (employed, contract or volunteer), and
third parties that collect, transmit, retain or use for any purpose information on behalf of the
Library in any form.
3. Statement of intent
The Library will identify and manage information risks that endanger the achievement of the
strategic aims defined in its Business Plan or the operational aims defined in Divisions’ plans.
The Library will embed information management into business processes and functions by means
of approved procedures, processes, and controls. Action taken to manage information risk will
address issues relating to information compliance, information management, and information
security.
The Library will make all reasonable efforts to discharge any information risk, management or
security related obligations arising from legislation, regulation or voluntary agreement, drawing on
best practice and recognised standards where appropriate. The Library will manage information
in ways that support the efficient and effective achievement of the Library’s strategic and
operational aims, drawing on best practice and recognised standards where appropriate. The
Library will publish sub-polices, mandatory procedures and optional guidelines in support of this
policy.
2/4
4. Policy ownership
The Senior Information Risk Owner (SIRO) owns this policy on behalf of the Library’s Executive
Leadership Team (ELT). The SIRO, leading the Corporate Information Governance Group
(CIGG), will be responsible for developing and implementing this policy and its associated subpolicies, and for reviewing them regularly to ensure that they remain appropriate to the Library’s
objectives and risk environment.
Changes, amendments or accepted deviations from this policy can be authorised only by the
SIRO.
5. Responsibilities
Everyone in the Library has a role in the effective management of information. All staff should
actively participate in identifying potential risks to the Library’s information in their area and
contribute to the implementation of appropriate solutions.
The SIRO and CIGG, in conjunction with the Integrated Risk Management Team (IRM), will be
responsible for maintaining the currency of all aspects of this policy and its related sub policies,
procedures and guidance, taking into account legal compliance, government directives and
corporate strategies and resources.
The SIRO will act as an advocate for information security and risk to ELT and in internal
discussions, and provide written advice to the Chief Executive for the annual Statement of
Internal Control relating to information risk for reporting to the DCMS.
6. Assessment of information risks
Information risk management is the process of identifying vulnerabilities and threats to the
information resources used by an organization in achieving business objectives, and deciding
what countermeasures, if any, to take based on the value of the information resource to the
organization.
Identification and a threat assessment of risks related to the Library’s information assets will be
carried out in line with the corporate Risk Management policy and the Corporate Risk Register
maintained by IRM, including an assessment of risk appetite and risk tolerance.
The SIRO will own the high level strategic information risk that is held on the Corporate Risk
Register. This strategic risk recognises that an information related incident may cause serious
harm to the Library, and that the risk of such an incident may arise from weaknesses in
information governance structures, inadequate control of information content, inability to access
information in a timely fashion, and/or inappropriate disclosure of information.
In turn CIMU will manage CIGG’s Risk Register of more detailed risks related to each area of
potential failure.
7. Sub policies, procedures and guidelines
Sub-policies, mandatory procedures and optional guidelines will detail the Library’s approach to
managing various aspects of information risk relating to information compliance, information
management and/or information security.
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8. Incident management
Security breaches, information loss or unauthorised disclosure, and other risks associated with
information management will be managed as ‘incidents’ with appropriate actions undertaken in
terms of escalation, reporting, recovery and subsequent review of existing controls, policy and
procedures.
9. Cultural change
ELT and the Board recognise that in order for information risks to be effectively managed there
will, in some cases, be a requirement for cultural change and changes to current working practice
within the Library. The SIRO and CIGG have been empowered by ELT to develop and implement
necessary changes to working practice to ensure that this policy (and its associated sub-policies)
can be fully implemented.
The SIRO and CIGG will work closely with Strategic HR and Internal Communications to ensure
that appropriate actions are taken to provide staff with adequate training and education in order
that they can fulfil their requirements to implement, maintain and develop effective information
management controls.
Failure to observe this policy (and its associated sub policies and related mandatory procedures)
may be regarded by the Library as gross misconduct. Disciplinary procedures may be instigated
as a consequence of damage caused to an individual, the Library or its partner organisations by
non-compliance with this policy.
10. Monitoring and review
The SIRO and CIGG will be responsible for monitoring the implementation of actions taken to
implement the requirements of this policy. These actions will each be led by a sub-group or
designated individual of CIGG. These specific actions will be monitored by CIGG on a regular
basis.
The policy itself will be subject to annual review, or earlier if warranted by regulatory, statutory or
policy change. The SIRO and CIGG will carry out the review.
4/4
Annex A: Theoretical Policy Framework
The policy is conceptualised as an ‘umbrella’ policy that sits over the more detailed sub-policies
that set out how the Library will manage various aspects of Information Compliance, Information
Management and Information Security. Below these lower level policies will sit levels of
mandatory procedures and optional guidance that cover the operational management of specific
areas of risk such as PCI compliance, password management or data sharing, for example.
Information Risk
Management Policy
Data Protection
FOI Policy Policy Manag Re em co ern dtsPolicy InformaP tio oln icS y ecurity
Use of Fair
Processing Notices
FOI Request
Management
Procedures
IT Backup Policy &
Procedures
FOI Guidance
Notes
DP Induction
training
Records Centre
processes
RM guidelines on
where to store
records
Etc. Etc. Etc.
Etc. Etc. Etc. Etc.
Strategic
Policy
Sub
Policies
Mandatory
Processes
Optional
Guidance
& Advice
As such the IRM policy defines the role of the SIRO and CIGG, sets out the Library’s high level
intent to manage information risk and the framework for doing so, and points to the lower level
policies for specific implementation of the policy.
It is our intent that the policy be as short as possible whilst still containing enough detail to comply
with the Cabinet Office Guidance on the Department Information Risk Policy.

52
The Shadow Brokers – a hackers group that claimed to have stolen a bunch of hacking tools from the NSA – released today more alleged hacking tools and exploits that target earlier versions of Windows operating system, along with evidence that the Intelligence agency also targeted the SWIFT banking system of several banks around the world.

Last week, the hacking group released the password for an encrypted cache of Unix exploits, including a remote root zero-day exploit for Solaris OS, and the TOAST framework the group put on auction last summer.

The hacking tools belonged to "Equation Group" – an elite cyber attack unit linked to the National Security Agency (NSA).

53
Bangladesh advanced three steps, thus, jointly ranking 139th  with Ghana and Zambia out of 188 countries in the Human Development Index (HDI), according to the Human Development Report (HDR) 2016.

Categorised as a “medium human development” country for the 13th consecutive year, Bangladesh’s average annual growth of HDI was 1.64%, between 1990 and 2015, which is higher than that of many other South Asian countries, the report adds.

The annual report was unveiled by the UNDP at a programme which it jointly organised with the Planning Commission in Dhaka on Wednesday, less than two weeks after the report’s global launch in Stockholm, Sweden.

With the HDI value standing at 0.579 in 2015, Bangladesh ranked fifth in South Asia, lagging behind Sri Lanka (73rd), the Maldives (105th), India (131st) and Bhutan (132nd) on the overall list topped by Norway (with 0.949 HDI value).

Addressing as chief guest, Planning Minister AHM Mustafa Kamal termed Bangladesh’s progress in human development over the last two decades significant, saying the average annual HDI growth is better than many other South Asian countries.

“Our social indicators depict that we are doing better in health, education and life expectancy at birth with the per capita income spiraling,” he added.

Life expectancy at birth in Bangladesh stood at 72 years, expected years of schooling at 10.2 years, mean years of schooling 5.2 years, adult literacy rate 61.5, gross national income (GNI) per capita $3,341, the  report reads.

State Minister for Foreign Affairs Shahriar Alam said Bangladesh became a role model among developing countries as its progress in recent years has impressed the world.

“We have to continue our development for the sake of the people, especially the marginalised and deprived ones.”

Dr Selim Jahan, lead author of the report, cautioning on paying too much attention to national averages, said: “Though progress in human development has been impressive over the past 25 years, still it [human development] has been uneven and human deprivations persist.”

UNDP Bangladesh Country Director Sudipto Mukharjee questioned about who has been left out in the development process and how and why that happened.

Devised and launched in 1990, HDI is a measure to assess progress in three basic dimensions of human development: a long and healthy life, access to knowledge, and access to decent standard living.
Source: Dhaka Tribune

     
     
     
     
     
   

54
The World Bank has projected a 6.8% GDP growth for Bangladesh in 2017, a slight fall from 7.1% last year.

“The economy of Bangladesh has weathered global uncertainties well aided by strengthening investment and a recovery of exports. Growth will be sustained at 6.8% in 2017, coming down slightly from 7.1% in 2016 and with a decelerating information rate and a budget deficit that has narrowed, said the World Bank in a report published on Sunday.

The report identified infrastructural gaps and inadequate energy supply, combined with the high cost of doing business as the main obstacles to the realisation of Bangladesh’s growth potential.

The report also said regional GDP growth of South Asia is expected to rise from 6.7% in 2016 to 6.8% in 2017, and 7.1% in 2018.

“To make the most of this export opportunity, countries in the region should continue to focus on polices that promote economic growth,” said World Bank South Asia Region chief economist Martin Rama.

He said: “A survey of South Asian experts conducted for this report reveals a strong consensus on the need to promote human capital accumulation, investments in infrastructure, and a more business-friendly environment.”

The bank’s South Asia Region vice president Annette Dixon said: “Simulations on the impact of hypothetical new trade barriers show that South Asia is not only resilient to a potential rise in protectionism but could possibly even gain from it in some circumstances.”

She said: “Advanced economies are recovering and could see faster growth that will likely increase demand for South Asian products. The region should seize this opportunity to diversify its exports and enhance its supply response.”
Source: Dhaka Tribune

55
Bangladesh will be among the top three fastest growing economies in the world by 2030, the consultancy firm PricewaterhouseCoopers (PwC) has said.

Its report titled ‘The long view: how will the global economic order change by 2050?’ predicts that Bangladesh could rise in the ranks by achieving an average annual growth of 4.8% over the next 34 years.

By 2050 Bangladesh, India and Vietnam will become the fastest growing economies, with Bangladesh expected to see impressive growth that will push it to 23rd place overall, the report says.

PwC ranked 32 countries by their projected global gross domestic product (GDP) at purchasing power parity (PPP), and made projections for up to 2050.

PPP estimates of GDP adjust for price level differences across countries, providing a better measure of the volume of goods and services produced by an economy as compared to GDP at current market exchange rates, which is a measure of value.

Bangladesh ranked 31st among the world’s 32 largest economies in 2016. Its GDP (PPP), according to the report, was $628 billion, and it was projected to increase to $3,064 billion in 2050.

Most of this projected growth will come from increased productivity as opposed to population growth. Of Bangladesh’s 4.8% growth rate, 0.6% will be the result of an increased population.

In comparison, Pakistan, fourth on this rank, will owe 1.4% of its 4.4% growth to population growth.

PwC says that realising Bangladesh’s growth potential depends on sustained investment and reform.

“Growth in these countries is driven even more by real GDP per capita growth, suggesting capital investment and technological progress will deliver real labour productivity enhancing benefits,” the report says.

“For these countries to realise this potential, growth needs to be supported by sustained economic reforms, strengthening macroeconomic fundamentals, institutions and, crucially, mass education to ensure their rapidly growing working populations contribute productively to long term economic growth.”

“Emerging market economies will drive global growth and eventually increase their share of world GDP,” the report says. “During this period, there will be a shift in global economic power. We project that the world economy will double in size by 2042, growing at an annual average rate of around 2.6% between 2016 and 2050”.

It also predicts that the E7 economies – Brazil, China, India, Indonesia, Mexico, Russia and Turkey – will account for almost 50% of the world GDP by 2050, while the G7’s share will decline to only just over 20%.

The findings by the PwC, one of the world’s largest professional-services firms, show that China, India and the US will remain at the top of the table, but in a new order.

China is already the top country in terms of PPP, while India has been projected to be the world’s second-largest economy, beating the US in GDP by PPP terms before 2050.
Source: Dhaka tribune

56
Business Administration / Remittance inflow falls 17pc in July-March
« on: April 05, 2017, 10:53:39 AM »
The overall remittance inflow has dropped by nearly 17 per cent or US$ 1.86 billion in the first nine months of this fiscal year (FY), 2016-17, against the same period of the previous fiscal.

The remittance receipts came down to $9.19 billion during the July-March period of the FY, from $11.06 billion in the corresponding period of the last fiscal, according to the central bank's latest statistics.

The remittance inflow was estimated at $1.08 billion in March 2017, up by $136.69 million from that of the previous month. In February 2017, the amount stood at $940.75 million. It was $1.28 billion in March 2016.

Talking to the FE, a senior official of the Bangladesh Bank (BB) said the inward remittance flow has dropped significantly in the recent months.

It happened due to a sluggish trend in economic activities in the Middle-East countries along with a rising trend of sending hard-earned money by expatriate Bangladeshis using informal channels, he noted.

The central bank as well as the government is now working to increase the flow of inward remittance, he added.

Currently, 29 exchange houses are operating across the globe, and 1,125 drawing arrangements have been set up abroad to expedite the remittance inflow, according to the central banker.

BB earlier took a series of measures to encourage the expatriate Bangladeshis to send their money through formal banking channel, instead of illegal "hundi" system to help boost the country's foreign exchange reserve.
Sourece: Financial Express

57
The world economy has finally started to grow after about 10 years of stagnation and a series of 'false economic dawns'.

"Today, almost ten years after the most severe financial crisis since the Depression, a broad-based economic upswing is at last under way," The Economist reported, referring to latest economic indicators.

"In America, Europe, Asia and the emerging markets, for the first time since a brief rebound in 2010, all the burners are firing at once," the report says.

The data shows that the American economy has kept growing for the past several quarters, though it faces the headwinds. The US Federal Reserve last week raised rates for the second time in three months while fears about Chinese overcapacity, and of a Yuan devaluation, have receded.

"In February factory-gate inflation was close to a nine-year high.

In Japan in the fourth quarter capital expenditure grew at its fastest rate in three years," the report says.

"The euro area has been gathering speed since 2015. The European Commission's economic-sentiment index is at its highest since 2011; euro-zone unemployment is at its lowest since 2009."

The Economist analysis also showed that in February South Korea notched up export growth above 20 per cent. "Taiwanese manufacturers have posted 12 consecutive months of expansion. Even in places inured to the recession the worst is over."

"The Brazilian economy has been shrinking for eight quarters but, with inflation expectations tamed, interest rates are now falling. Brazil and Russia are likely to add to global GDP this year, not subtract from it," according to the Institute of International Finance. It reckons that in January "the developing world hit its fastest monthly rate of growth since 2011".

However, the Economist cautioned that "it does not mean the global economy is back to normal."

It pointed out "oil prices fell by 10 per cent in the week to Mar 15 on renewed fears of oversupply; a sustained drop would hurt the economies of producers more than it would benefit consumers."

Soure: Financial Express, March 21,2017

58
Business Administration / Inflation rises to 5.31pc in February
« on: April 03, 2017, 10:41:39 AM »
The inflation rate rose again in February, following on the increase in January.The inflation rate increased to 5.31 per cent in February from 5.15 per cent in January. This means that something Tk 100 in 2016 would cost Tk 105.31 in February.

The data from the Bangladesh Bureau of Statistics (BBS) was revealed to the media  Planning Minister AHM Mustafa Kamal at the NEC Conference Room in Dhaka’s Sher-e-Bangla Nagar, reports bdnews24.com. He attributed the rise in the inflation rate to increase in the price of beef and edible oil. The January hike in the inflation rate was attributed to a rise in the price of coarse rice.

General inflation in the food sector rose from 6.53 per cent in January to 6.84 per cent in February. Non-food inflation, however, has dropped slightly from 3.10 per cent in January to 3.07 per cent in February. The general inflation rate in rural areas also increased from 4.92 per cent to 5.14 per cent between January and February. Inflation in urban areas also rose slightly from 5.57 per cent to 5.62 per cent.
Source: Financial express. April 03, 2017

59
Business Administration / Bangladesh will be 23rd economy if…
« on: February 12, 2017, 04:42:06 PM »
The country can emerge as one of the world’s three fastest growing economies in the next three decades if mass education is ensured to raise productivity of youthful populations.
 Highlighting Bangladesh’s potential until 2050, PricewaterhouseCoopers has put conditions of “sustained economic reforms” and proper “institutions” for attaining higher growth over a long period of time.economy

Bangladesh is projected to become 23rd economy by 2050 from its 31st position at present.

In its analytical report, the London-based professional services network has forecast an average annual growth of around 5 per cent between 2016 and 2050.

“We project Vietnam, India and Bangladesh to be three of the world’s fastest growing economies over this period,” PwC observed in the report titled “The Long View: How will the global economic order change by 2050?”

It pointed out that these countries will benefit from their youthful and fast growing working-age populations, boosting domestic demand and output.

The PwC report, however, predicted no significant progress in investment in Bangladesh, which was 23 per cent of gross domestic product (GDP) in 2016 and may increase to 25 per cent of GDP in 2025.

Also, quality of education including technical skills remains a concern for the country that achieved improvement in expanding literacy in the past three decades.



China will be the largest economy by 2050 and six of the seven largest economies in the world could be emerging markets by that time, according to the projection.

To realise the said growth potential, PwC suggests, emerging market governments need to implement structural reforms to improve macroeconomic stability, diversify their economies away from undue reliance on natural resources, and develop more effective political and legal institutions.

China’s rise may also offer advantages for countries such as Bangladesh.

“As China’s population ages and real labour costs increase, we are likely to see global multinationals shift some of their off-shoring jobs from China to other relatively cheaper economies, such as Vietnam, Bangladesh and Indonesia,” the report said.
Source:http://businessnews24bd.com/bangladesh-will-be-23rd-economy-if/

60


Bangladesh Monitor has recognised four individuals for their contribution to the development of the country's travel and hospitality industry.

They were honoured at the silver jubilee celebration of the fortnightly magazine at the Westin Dhaka hotel on Saturday. Minister for Civil Aviation and Tourism Rashed Khan Menon gave away the trophies.

Hakim Ali, chairman of Intraco Group of Companies, was recognised for his contribution to the tourism sector while late Md Fakruddin, founder of Fakruddin Food and Catering chain, was honoured posthumously under the culinary industry category.

Shahid Hamid, executive director of Dhaka Regency Hotel & Resort, received the award in the hospitality industry category.

SA Reza Hussain, first Bangladeshi country manager of British Overseas Airways Corporation, which is now known as British Airways, was also awarded in the aviation category.

Speaking on the occasion, Kazi Wahidul Alam, editor of the Bangladesh Monitor, said they are proud to honour these people who have played commendable role in their respective fields.

He said the magazine would continue its efforts for the development of the country's aviation and tourism sectors in the days to come.

The celebration ceremony was attended by representatives from a number of ministries, Bangladesh Tourism Board, foreign missions in Bangladesh, local and foreign airlines, tour operators and travel agencies.

Bangladesh Monitor started its journey on August 16, 1991. It also regularly organises conferences, seminars, and workshops on aviation and tourism along with tourism fairs and chef competitions.

source: Business Report

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