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46
BBA Discussion Forum / Top 10 Interview Tips
« on: February 17, 2014, 06:03:50 PM »
Top 10 Interview Tips

Interview Advice That Will Help You Get a Job Offer

Check Out the Company
 
How much do you know about the company that just contacted you to schedule an interview? It should be plenty, and all the information you need is available online. Here are tips on how to research a company, get the inside scoop on the company culture, and use connections who can help you get an interview advantage.

Dress for Interview Success
 
The first impression you make on a potential employer can make a big difference. The first judgement an interviewer makes is going to be based on how you look and what you are wearing. That's why it's always important to dress appropriately for a job interview.

Improve Your Interview Technique
 
A job interview gives you a chance to shine. What you say and what you do is going to either move you to the next round of consideration for employment or knock you out of contention

Prepare for a Phone Interview
 
While you're actively job searching, it's important to be prepared for a phone interview on a moment's notice. You never know when a recruiter or a networking contact might call and ask if you have a few minutes to talk. Review these tips for advice on how to pull off your phone interview without a hitch.

Practice Interviewing
 
Taking the time to review typical interview questions you will probably be asked during a job interview will help give you a framework for your responses and will help calm your frazzled nerves, because you won't be scrambling for an answer while you're in the interview hot seat. Practice interviewing with a friend or family member ahead of time and it will be much easier when you're actually in a job interview.


Most Common Interview Mistakes to Avoid

What shouldn't you do when interviewing? Check out the most common job interview mistakes, blunders, and errors a candidate for employment can make. Then take the time to prepare before your interview, so you don't have to stress out about blunders after it.

Take the Time to Say Thank You
 
Taking the time to say thank you after a job interview not only is good interview etiquette, it reinforces your interest in the position. Use your thank you letter, as well, to address any issues and concerns that came up during the interview.

Use Your Contacts
 
Who you know at the company you are interviewing with really does matter. Here's how to use your contacts and connections to get an insider advantage so you can ace the interview and impress the interviewer.

Handle a Group Interview
 
Interviewing with one person is tough enough, but it's even harder when you have to interview with a group (or panel) of interviewers. Here's how advice on how to ace a panel interview.

Interview While Dining
 
Taking you to breakfast, lunch or dinner provides the interviewer with a chance to check out your communication and interpersonal skills, as well as your table manners, in a more casual environment than an office setting. Here's advice on how to handle an interview while dining.

47
BBA Discussion Forum / Top 10 Tips For Improving Your Spoken English
« on: February 17, 2014, 05:46:56 PM »
Top 10 Tips For Improving Your Spoken English

There are so many exciting ways to learn English and make the learning process fun!


1. Speak, Speak, Speak

Be confident and speak as often as possible to as many people as you possibly can! Do not be shy to make mistakes! The more you practice the better and more confident you will become in your pronunciation and vocabulary.

2. Use Google Translate

When you are unsure of a word or a pronunciation of a word, ask google! It's easy to use! Enter the word in Google Translate and listen to the correct pronunciation by clicking on the audio button.

3. Listen

Listen to news bulletins and songs in English to listen to the pronunciation of words. You can also learn new words and expressions this way. The more you listen, the more you learn!

4. Read Out Loud

Read the newspaper or a magazine out to yourself. Hearing yourself read will help you spot your mistakes better.

5. Learn A New Word Everyday

Choose a word you would like to work on and use practice it in different sentences. Use the word until you have learnt it and keep using it regularly.

6. Watch Films

Watch movies in English and pay attention to new vocabulary and pronunciation. Imitate the actors and have fun with it.

7. Make Friends

Make friends with English speakers or others learning to speak English and compare notes. Talk about things that you have learnt and exchange ideas.

8. Do Interesting Activities in English

Take a cooking course in English or join a book club! Anything you enjoy doing, make sure you do it and communicate it in English.

9. Have a Debate

Debate all the topics that interest you with friends in English. Try to use as much vocabulary as you can to get your point across.

10. Use a Dictionary

The dictionary has millions of words to choose from! Look up different words and their synonyms and alternate how and when you use them in sentences.
   

48
BBA Discussion Forum / How to become a Good Presenter (11steps)
« on: February 17, 2014, 05:41:29 PM »
 

   11 steps to become a Good Presenter
 
   
    Research your topic. It’s important to spend enough time collecting and confirming information in order to speak with confidence and knowledge.
 
    Organize. Organize the main points in the most appropriate order for the topic you’re presenting. Avoid writing complete sentences or paragraphs and prepare note cards to help you elaborate on the information presented.
   
    Practice. Do not memorize written texts. Try to understand the topic to the best of your ability so you can communicate it well during the presentation and meet the time limit. Practice for a friend or a family member and get their feedback on your presentation skills.
 
    Deal with your stress. It’s common to be stressed before a presentation, try picturing yourself impressing the audience. Also, it’s important to relax before the presentation and think about nothing but how to make the most out of it.
   
    Look presentable. Dress well for the presentation, usually a formal outfit is preferred to show the level of professionalism. Appearance says a lot about someone’s personality and confidence.
   
    Keep eye contact. Do scanning the room technique by keeping an eye contact with as many people as you can.
   
    Speak clearly. Speak in a loud and clear voice to get your presentation through to the audience even the ones sitting further away.
   
    Engage your audience. Some useful ways to do that are sharing a funny yet tasteful story, or pose a question to see how much they know about the subject you’re about to discuss.
   
    Answer questions at the end of the presentation. Make sure you listen to the questions carefully, ask for clarifications if needed and repeat the question to the rest of the audience to give you more time to think about the answer. If you don’t know the answer for a question be honest and say that you will look into it since you don’t know the answer in the meantime.
   
    Learn from your experience. Ask your employers or professors for their feedback to be able to identify your strengths and weaknesses and help you improve for next time.
   
    Listen to presentations. Once you’re done presenting you should take the time to listen to other presentations to benefit from presenters’ skills.

49
BBA Discussion Forum / BB GMs asked to boost monitoring, supervision
« on: February 17, 2014, 05:14:49 PM »
BB GMs asked to boost monitoring, supervision



General managers (GMs) of the central bank have been asked to strengthen monitoring and supervision for mitigating the overall risks in the country's banking sector.

The advice was given at an annual conference of the GMs held at the central bank Sunday. Bangladesh Bank (BB) Governor Atiur Rahman was present on the occasion as the chief gust.

The GMs have also been asked to use new techniques to check fraud and forgeries if necessary, officials said.

"We've been advised for taking precautionary measures to ensure stability in the country's banking sector," a GM told the FE after the meeting.

He also said the central bank is now planning to introduce a Taka dashboard shortly as part of its strengthening supervision and monitoring.

Earlier on February 12 last year, the central bank launched an electronic system, generally known as 'dashboard,' for monitoring all kinds of foreign exchange transactions aiming to check fraud and forgery in the country's banking sector.

The dashboard provides summary of export, import, inland back to back letters of credit (L/Cs) and inward and outward remittances separately with categorically separated details.

The meeting had discussion on different issues including regulatory changes, supervision and stability, capacity building and development of information and communications technology.

"We've also discussed updating of the existing core risk management guidelines for improving efficiency of the commercial banks," another GM said while replying to a query.

He also said the central bank has already formed committees in this connection.

The BB earlier identified six core risk areas in the country's banking sector. The risk factors are: credit, asset and liability, foreign exchange, information technology, internal control and compliance, and money laundering.

50
BBA Discussion Forum / The 7 Best Foods for Your Belly
« on: January 08, 2014, 02:09:25 PM »
The 7 Best Foods for Your Belly

These foods can help us beat inflammation and imbalanced gut flora, so we can soothe and shrink our stomach at the same time.

High-Fiber and Antioxidant-Rich Vegetables
All veggies are good for you. They are high in vitamins, phytonutrients, antioxidants, and fiber and are generally low in calories and low in fat. But certain varieties do contain FODMAPs, or rapidly fermentable carbohydrates that can aggravate your gut, that are difficult for some people to digest. Our plan focuses only on low-FODMAP veggies, especially those rich in anti- inflammatory magnesium and other important minerals. Found in: leafy green veggies (kale, Swiss chard, spinach), bell peppers, cucumbers, eggplant, tomatoes, potatoes.

Tummy-Trimming Fruits
Many sweet fruits have a balanced glucose-to-fructose ratio, which may be easier on your gut than those with more fructose. Found in: bananas and blueberries, cantaloupe and honeydew, grapes, oranges, pineapple, papaya, strawberries, raspberries.

Carb-light Grains
Almost all grains are carb-dense and therefore may be bad for your tummy. Many, like wheat, are also high in FODMAPs. But since grains are such powerful (and delicious) sources of fiber, we included those that are high-fiber, low-FODMAP, and relatively carb-light. Found in: quinoa, oats, brown rice.

Nuts, Seeds, Nut Butters
Nuts and seeds are great sources of energizing protein, low-fermentable (read: belly-soothing) fiber, and anti-inflammatory fats. But some nuts contain FODMAPs, so stick to this list. Nut butters made from these are also great options. Found in: almonds, hazelnuts, macadamia nuts, peanuts, pecans, pine nuts, walnuts, chia seeds, flaxseeds, pumpkin seeds, sesame seeds, sunflower seeds.

Lean Protein
Naturally carb-light, protein usually doesn’t cause digestion issues. But choose lean sources, since many are high in saturated fat, which can trigger inflammation. Found in: eggs, fish, lean cuts of beef, pork, skinless poultry, seafood, tofu, and tempeh.

Greek Yogurt
It has twice the protein of regular yogurt and less belly-irritating lactose.

Maple Syrup
It has the least fructose compared with other sweeteners. You may tolerate maple syrup better than high-fructose honey or agave nectar.




51
No gains for financial sector with a slowing economy

The financial sector is likely to record underwhelming earnings for 2014 if the political situation does not improve soon, said the managing director of IPDC, a top non-bank financial institution.
As economic activities slow down, non-bank financial institutions (NBFIs) will see a decline in profits, Mominul Islam told The Daily Star in a recent interview.
The financial sector, both banks and NBFIs, has been experiencing a slowdown in loan repayments, as businesses struggle to operate normally, said Islam, the youngest managing director in the financial sector. 
“In the last two years, banks and NBFIs struggled to retain their profits, but this year, we have seen the real economy being affected by the political impasse.”
The manufacturing and services sectors are being hit by the current political crisis, which is going to impact the banks and NBFIs, he said.
“So if there is a negative shock in the economy, the entire financial sector will definitely bleed for that,” he said. “We could survive in the face of the capital market and real estate bubble burst, but IPDC is going to be affected by an economic slowdown.”
IPDC, abbreviated for Industrial Promotion and Development Company of Bangladesh, is not trying to be aggressive in soliciting new financing as the market is slowing, he said.
“However, the slowdown is a temporary phenomenon and our economy is resilient and can bounce back.”
Business activities in the country will get a boost after the election, the MD said.
“We are more competitive in external trade as our export-import constitutes more than 50 percent of GDP, which is higher than India, Pakistan or Nepal.”
When exports and imports are high, it helps the banks and financial institutions to do business, he said. “We are expecting the economy to soon see an upward trend.”
In Bangladesh now, there are 31 NBFIs doing various types of businesses, including financing and capital market business. IPDC is a pioneer in leasing financing in Bangladesh.
“From the incubation period, the financial sector is moving to maturity. It has gone through many transformations.”
NBFIs have diversified their business models and products; the sector is now not only involved in lease financing, but it is also giving term-loans and syndicated loans, said the managing director.
Since 2006, most NBFIs are heavily involved in the capital market.  “As we saw a capital market boom from 2006 to 2010, the profitability of many NBFIs jumped.”
Unfortunately, at the end of 2010, the bubble burst and most NBFIs are struggling to maintain profitability, he said. Institutional investors like banks and NBFIs did not behave like full-grown institutional investors, and as a result, individual investors were influenced by them, he added.
The position of institutional investors in the market should be based on company fundamentals like cash flow, future earnings and performance, he said.
“But what happened in our stockmarket is that they violated their investment limits. They focused on short term profits.”
“Their profits were not sustainable. You have increased your company's cost base but you certainly cannot limit your costs when profitability drops.”
Financial institutions should be cautions in the future about this sort of a phenomenon, he said.
“We should be concerned about the risk parameters in whatever business we are doing.”
There are a few financial institutions that have done well even in this challenging period as they have no involvement in the stockmarket and real estate, he said.
“We did not get involved in the speculative capital market although we make venture capital and preference share investment, which helped IPDC do better business in a challenging market.”
Among the NBFIs, IPDC saw the highest profit of Tk 7.13 crore in January-September, a 386.3 percent surge from the same time a year ago.
IPDC recorded a 30-35 percent growth in operating profits, while most NBFIs saw negative growth, he said.
“Whatever we have disbursed in loans, none are non-performing. We are continuously improving our asset quality,” he said. 
On self-sufficiency, Islam would like NBFIs to move away from the bank borrowing model and initiate their own deposit making efforts.
“Almost all NBFIs depend on the money market and corporate borrowings to generate funds. As a result, when liquidity becomes tight, NBFIs suffer as their borrowing rates go up and funds become scarce.”
Many financial institutions learned lessons the hard way during recent stockmarket shocks and they are trying to increase their deposit base so that they do not have to rely on bank borrowing, he said.
Moreover, Islam deems the cost of funding for NBFIs in Bangladesh to be excessive.
“Banks are still charging NBFIs 17-18 percent, which is too high. That is why, at IPDC, I decided in 2006 to move away from this bank borrowing model and initiated our own deposit marketing efforts.”
IPDC become totally independent on its own sources of funds. “We are dependent on our customers' deposits.”
“Last year, there was a severe liquidity crisis in the market and banks raised the interest rate to 18 percent for NBFIs. We did not face a setback while many others struggled.”
When NBFIs borrow funds at 18 percent and lend out funds for 20-22 percent, it is difficult for borrowers to pay back loans, which increases non performing loans, he said.


52
Garment exporters get cash benefits against fund transfer via TT:

Apparel makers will get 5 percent cash benefits against their export proceeds if sent through an electronic system known as telegraphic transfer (TT)—a move that aims to help them recoup the losses caused by political unrest.
The products that will enjoy the incentive from the government are woven, knitwear and territowels.
Separately, the government is going to cut export tax by a half and increase cash incentive by one percentage point for garment exporters, which will cost the government around Tk 3,000 crore.
The Finance Division yesterday issued a notice, saying the garment exporters will get the incentives after fulfilling conditions set by the central bank.
A finance ministry official said some sectors, including fish, vegetables, potatoes and jute goods, now get cash incentive against advance TT on condition that the value of exports must be repatriated from the importing country.
A Bangladesh Bank official said, in many cases the export value does not come from the country that the exports were meant for.
As a result, providing the incentive will be difficult if the existing conditions are kept in place, the BB official said, adding that the conditions will be slapped in a way that minimises misuse.
Meanwhile, at a meeting yesterday, Finance Minister AMA Muhith took opinions from garment makers about the incentive package.
The finance ministry official said the government will make an announcement on the stimulus package in a couple of days once the prime minister gives a go-ahead.
The finance ministry has already prepared a draft plan about the stimulus package and discussed different aspects of the package with the garment exporters.
The government has a plan to bring down export tax for the sector to 0.4 percent from 0.8 percent now and the package may cause the government a revenue loss of around Tk 1,000 crore a year.
The government may also increase the amount of cash incentive for garment exporters by 1 percent over the existing rate of their export proceeds. The meeting was told that it would cost the government around Tk 2,000 crore.
Three platforms of garment and knitwear makers and textile mill owners placed a three-point demand to the finance minister on December 11 to help them offset the extra cost following the recent hike in garment wages. They also demanded measures to make up for the losses caused by political unrest.
The finance minister later sat with the officials of the central bank, the finance ministry and the National Board of Revenue to devise plans on the stimulus packages.



53
BBA Discussion Forum / Govt plans duty privileges for car importers
« on: August 05, 2013, 03:11:41 PM »
Govt  plans duty privileges for car importers

The National Board of Revenue, in a rare move, plans to give retrospective duty benefits to a section of reconditioned car importers in a bid to help them take delivery of the 3,700 imported vehicles stuck at ports for years.
The tax privileges known as depreciation benefits—now 45 percent—are meant for the current fiscal year. The NBR will now give the same benefits to the vehicles imported in the last three fiscal years, which will cost the state coffers roughly Tk 100 crore.
The depreciation benefit to assess the duty of five-year-old cars increased to 45 percent this fiscal year from a flat rate of 35 percent the previous year.
For the special benefits, the NBR has an explanation: it says it will provide the benefits for the sake of public interest.
But insiders said the issue is commercial in nature and the privilege will come as a huge loss to the state.
The NBR will send the proposal to the finance minister for approval.
The move will reduce the duty burden on those importers who are yet to take delivery of their vehicles from ports.
For example, a 45 percent depreciation benefit would reduce duty burden by nearly Tk 3 lakh for a 1,500-cc Toyota Corolla Axio model of 2006, 2007 and 2008.
However, the benefit will not be applicable to the importers who had cleared their cars by paying duty based on 35 percent depreciation before June 6.
The NBR move comes amid lobbying by importers of older cars after they found the relaxed depreciation rules would not be applicable to determine the duty of the vehicles that were imported since fiscal 2009-10 and remained stuck at ports.
“We have been demanding a year-wise depreciation benefit for the last three years. And we were told that the year-wise depreciation benefit would be applicable to the five-year-old cars that are staying at ports,” said Abdul Haque, managing director of Haq’s Bay.
“But our issues remained unaddressed,” said Haque, who has more than 1,000 reconditioned cars stuck at ports.
Haque said importers of relatively older cars faced uneven competition with newer cars due to the 35 percent flat rate.
Only 2 percent of importers had taken their older vehicles cleared by paying duties based on the 35 percent depreciation rate, he said.
“We are not demanding the extension of the depreciation benefit to make profit. It will help reduce our losses,” Haque said.
Md Farid Uddin, NBR member (customs policy), said the government’s import and customs policies were inconsistent.
The import policy of 2009-12 allowed import of five-year-old vehicles, but a 35 percent depreciation benefit was applicable to three-year-old cars in the customs policy.
Farid said importers have been demanding rationalization of the depreciation benefit for the last few years. And the NBR was supposed to do that in the February-March period through a notification.
“The question of losing taxes would not arise at all if we had taken the decision at that time,” he said, adding that the importers may face losses even after getting the year-wise depreciation through a retrospective effect.
Because of the burden of paying higher duty based on the previous depreciation benefit, importers may not be interested in clearing their vehicles from ports, he said.
“It will be tough to sell so many cars at auction. We may also get less revenue than the amount we will get by extending the present year-wise depreciation benefit,” Farid said.

54
Liquidity in money market still at comfortable level ,Call money rate hits 9pc


The liquidity position in the domestic money market remained still in a very comfortable zone mainly due to surplus funds lying in the banks.

The bank-to-non-bank financial institution (NBFI) call money rate hit 9.0 per cent on Sunday, slightly higher than usual, while the bank-to-bank or inter-bank call money rate stood at 8.0 per cent, according to the mid-day report of the Bangladesh Bank (BB).

Bankers said the call money rate rose slightly due to a higher volume of transactions at banks on the occasion of Eid-ul-Fitr.

There was a rush for withdrawal of money from banks on the day. The call money rate was above 7.0 per cent until Thursday.

BB sources said the banks have enough surplus funds.

The call money rate was recorded at 11.51 per cent in August in 2012, according to the BB.

The liquidity position in the domestic money market remained at a comfortable level over the last few months as the call money rate hovered around 7 per cent.

According to the BB call money report, Agrani Bank lent Tk 300 million to NBFIs at a rate of 9.0 per cent while Janata Bank lent Tk 250 million to NBFIs at the same rate.

Mr Asad Khan, managing director of Prime Finance, told the FE: "Banks usually charge a rate, higher by 1.0 per cent for NBFIs than for banks. So the call money rate for NBFIs stood at 9 per cent and that for banks at 8 per cent."


55
BBA Discussion Forum / Bangladesh: next BPO destination
« on: July 09, 2013, 03:32:44 PM »
Bangladesh: next BPO destination

The industry operators yesterday tipped Bangladesh to be the next destination for business process outsourcing (BPO).
The nation has a large number of young people with an increasing number of IT graduates and the service costs are lower compared to India and the Philippines, which can take BPO forward, they added.
“The demographic dividend is knocking at the door. BPO is the next opportunity for Bangladesh,” said Raihan Shamsi, chief executive of GPIT, at a discussion organized by Bangladesh Association of Software and Information Services (BASIS) at Radisson Blu Water Garden, Dhaka.
The Daily Star was the knowledge partner for the event that was attended by IT entrepreneurs and professionals from home and abroad.
The optimism was shared at a time when the $325 million IT and IT enabled services industry in Bangladesh has grown 25 percent in 2012 and registered increased exports earnings.
The country has also emerged as one of the top five destinations for freelancing for IT services.
Some 800 companies operate in the sector supported by a pool of 35,000 IT professionals and 10,000 freelancers, Shamsi said at a session. GPIT has secured a contact worth $16 million for BPO.
He said the global market for BPO is expected to reach $416 billion by 2015.
Bangladesh is in an advantageous position and the country should not miss the chance to increase its share of the pie, he added.
A third of the nearly 16 crore people of Bangladesh are between the age of 15 and 34 years and an increasing number are getting educated.
BPO costs here are 40 percent lower compared to India and the Philippines and the government provides support to help the sector grow, he added.
Shamsi said India has taken advantage of its demographic dividend through BPO, which has helped the country generate 2.8 million direct jobs. BPO also helped India fetch billions in exports, he added.
“BPO offers significant opportunities to create jobs and diversify the export basket and move from the current dependence on readymade garments,” he added.
“We need to create awareness. We need to prepare and market it. We have to put all our hands together and brands together.”
Mahfuz Anam, editor and publisher of The Daily Star, said Bangladesh has attracted global attention because of its achievements in economic and social sectors.
He said the country makes progress in spite of corruption, nepotism, infrastructural problems and negative politics.
“There is a regenerative Bangladesh, which is growing, making its presence in the global forum. It is one of the countries that are looked upon as the next growth centre,” said Anam.
“So let us be conscious about the fact that there is a regenerative Bangladesh, creative Bangladesh, path breaking Bangladesh. We have to build Bangladesh in spite of negativity that is present.”
Bangladesh has one of the highest number of people. “They all are potentially creative minds,” he said, adding that IT can take advantage of that.
He suggested businesses should share their achievements and positive outcomes with the media, especially with The Daily Star, to create awareness.
ICT Secretary Nazrul Islam Khan said the government has taken up a number of schemes to promote IT education such as the Union Information Service Centre to train the youth.
Advanced training is also provided to the youth who are registering for freelancing, he added. “The government aims to set up IT parks in districts and train IT graduates.”
Saiful Islam, former president of Dhaka Chamber of Commerce and Industry, said building a network of Bangladeshis living in the West such as the US and Europe can enable the local industry to obtain contracts.
“We have a huge number of Bangladeshis living abroad. Many of them are in a good position to influence decision making,” he said.
Russel T Ahmed, secretary general of BASIS, said export earnings from IT and ITES reached nearly $100 million at present.
Anand Tilak, regional manager, agency business and sales development of Google for Emerging Markets South East Asia, suggested digital marketing to reach targeted customers.

56
BBA Discussion Forum / DSE turnover sees 15.6pc rise
« on: July 09, 2013, 03:13:36 PM »
DSE turnover sees 15.6pc rise

The market ended flat Monday amid volatile trading throughout the session with increasing participation as investors' profit taking tendency wiped-out early gains.

The General Index of the Dhaka Stock Exchange (DGEN) ended at 4,559.38, gaining less than a single point as the market went through a minor correction due to excessive profit taking tendency.

The new benchmark index DSEX, however, declined 14.86 points or 0.34 per cent to close at 4,263.23 while the blue chip index DS30 gained 1.17 points or 0.07 per cent to close at 1,600.32 points.

The market saw higher market participation as total turnover on DSE stood at Tk 9.91 billion, an increase of 15.6 per cent over the previous session's value.

Meanwhile, fuel and power companies continued to record highest turnover for the twelve consecutive sessions, accounted for 21.64 per cent of the total DSE turnover over imminent corporate declarations.

"Though market ended flat, growing participation helped to absorb sell pressure like last few sessions," commented IDLC Investments, in its daily market analysis.

"Scrip wise movement was also observed centering holy Ramadan as some fresh positioning and repositioning took place. Amid this repositioning, investors appeared to switch from banking sector to fuel and power and textile sectors," the merchant bank said.

"The market saw both the extremes of bullishness and bearishness in the same day. Some of the stocks were trading at the upper band of their circuit breaker, while others were contributing to the decline of the market," stated the Lanka Bangla Securities.

"The session's boost in turnover was a significant indication of market's high tendency for a sustainable bull run. The ongoing correction couldn't be severe due to market's high level of strength which absorbed the excessive sell pressure," stated Zenith Investments.

As the earnings announcements are approaching, both the demand and supply sides are being more active and dynamic. Turnover is now at a comfortable level but in order to exceed such level, the Zenith analysis said.

"The way market is showing its latent strength, a well built run might appear anytime soon given that the political stability and market liquidity stays as they are now," the Zenith analysis added.

Most of the traded stocks, however, lost in prices as out of 290 issues traded, 173 declined, 96 advanced and 21 remained unchanged in the primer bourse.

The major sectors had mixed performance. NBFIs advanced the most with 1.17 per cent gain as ICB alone gained 5.0 per cent. It was followed by fuel and power which gained 0.44 per cent.

The other big sectors like banks, pharmaceuticals and telecommunications were down by 1.75 per cent, 0.16 per cent and 0.06 per cent respectively.

Activities increased in the prime bourse. A total of 0.195 million trades were executed with 206.34 million securities of trading volume.

The market capitalization of the DSE stood at Tk 2,615.27 billion against Tk 2,616.65 billion in the previous trading session.

United Airways became the top turnover leaders with shares worth Tk 871.96 million changing hands followed by Olympic Industries, BSCCL, Padma Oil and Meghna Petroleum.

JMI Syringes and Medical Devices continued to dominate the top gainer chart for the several sessions, posting a rise of 9.96 per cent while Third ICB was day's worst loser, slumping by 7.74 per cent.

The Chittagong Stock Exchange (CSE) also ended flat with the Selective Categories Index declined 13.78 points to close at 8,402.07 points.

Losers beat gainers 137 to 69, with eight issues remaining unchanged on the port city bourse that traded 19.06 million shares and mutual fund units, turnover value of Tk 732.17 million.

57

15pc increase in govt's net bank borrowings in FY'13

The government's net borrowing from the banking system increased by more than 15 per cent in the just-concluded fiscal year to partly finance its budget deficit, officials said Monday.

Its borrowing from the banking system rose to Tk 247.76 billion until June 30 last from Tk 214.59 billion in the corresponding period of the previous year, according to the central bank statistics.

The government borrowing from the banking system exceeded the original target for the outgoing fiscal year but it was lower than revised one, according to the officials.

The ministry of finance (MoF) set borrowing target from the banking system at Tk 230 billion for the fiscal year (FY) 2012-13, while it was revised at Tk 285 billion lastly.

"The government's borrowing from the banking system started rising from May last because of increased funding for implementation of Annual Development Programme (ADP) projects," a senior official of the Bangladesh Bank (BB) told the FE.

He also said the government borrowed from the banking system 'heavily' on June 30, the last working day of the FY 13, to square up its overall fund position.

The government's bank borrowings shot up by Tk 61.62 billion to Tk 247.76 billion on June 30 last from Tk 186.14 billion in the previous working day, the BB data showed.

The BB official also said the government borrowed Tk 300.28 billion, in gross terms, from the commercial banks through issuing different bonds and treasury bills (T-bills) in the FY 13, while it repaid Tk 52.51 billion to the central bank.

During FY 14, the government is set to borrow a total of Tk 259.93 billion from the banking system through issuing T-bills and bonds to partly finance its budget deficit.

Under the arrangement, the government has decided to borrow Tk 143.55 billion from the banking system by issuing bonds, while Tk 116.38 billion will be borrowed through auction of short term T-bills.

Currently, three T-bills are being transacted through auctions to adjust the government's borrowing from the banking system. The T-bills have 91-day, 182-day and 364-day maturity periods.

Furthermore, five government bonds with duration of two, five, 10, 15 and 20 years respectively - are being traded in the market.


58
BBA Discussion Forum / FBCCI calls for steps to spur investment
« on: July 01, 2013, 04:09:26 PM »
FBCCI calls for steps to spur investment

The government should reduce the interest rate on bank loans to encourage investment by private sector entrepreneurs in areas of energy and infrastructure, Kazi Akram Uddin Ahmed, president of the country’s apex trade body, said yesterday.
The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) president also called for lowering of the spread, which is the difference between the cost of fund and interest rate, to a tolerable 3 percent.
Businesses need to make a whopping 30 percent profit to cover the bank interest rate of 18 percent and the operating costs, according to entrepreneurs.
“The proposed budget for fiscal 2013-14 is not ambitious, but rather realistic. The only criticism we have is that the implementation of the budget would be challenging,” Ahmed said.
The FBCCI criticised the government’s decision to set bank borrowing at Tk 25,993 crore for the next fiscal year, up 13 percent from the outgoing fiscal year, to meet the budget deficit.
“The inflow of money to private sector will be squeezed because of government’s over-borrowing.”
“At the same time, we are urging the government to operate the state-owned industries under public-private partnership to reduce wastes.”
Ahmed suggested the government allow investment of black money in the industrial sector, infrastructure and in special economic zones to spur investment, while calling for stern actions to check the creation of black money.
Ahmed also welcomed the move to continue with tax breaks for 17 sectors which include garment, textile, tourism, IT, poultry and infrastructure.
The continuation of duty-exemption on import of basic commodities such as agricultural equipment, lifesaving essential drugs and cotton, together with the proposal to reduce duty to 2 percent from 3 percent on capital machinery imports, were also well-received by the business community.
The FBCCI lauded the proposal to increase the turnover tax ceiling to Tk 80 lakh from the existing Tk 70 lakh, which, Ahmed says, will help expand the businesses of small- and medium-scale entrepreneurs.
He also urged the government to making the proposed Alternative Dispute Resolution (ADR) more effective for resolving tax- and duty-related cases.
Bangladesh Chamber of Industries (BCI) said the targeted GDP growth of 7.2 percent might not be possible, given the current economic and political situations.
Although the reduction of taxes for the industrial sector will encourage industrialisation, the budget lacks proper guidelines to attract domestic and foreign direct investment, it said.
“The continued stance to extend amnesty to black money is not acceptable at all,” BCI said in a statement yesterday.
The chamber was also disappointed that the government did not target the finalisation of coal policy in the budget.

59
BBA Discussion Forum / Liberal act, little gain
« on: July 01, 2013, 04:01:56 PM »
Liberal act, little gain

Only Tk 500 crore was whitened in the first 10 months of fiscal 2012-13 under the new provision that gives amnesty to black money in return for full payment of outstanding taxes and fines.
The figure, which is only 0.12 percent of the estimated black money circulating in the economy, yielded Tk 139 crore in tax to the state coffers, according to National Board of Revenue (NBR).
Black money, according to NBR, is “undisclosed” money against which no tax was paid.
The exact amount of undisclosed money in the economy cannot be determined, but Finance Minister AMA Muhith, in his post-budget press briefing on Friday, said it is “at least 40 percent of the GDP”.
The country’s GDP, at present, stands at Tk 10,37,987 crore; so based on Muhith’s citation, the amount of black money in the economy is at least Tk 4,15,194 crore.
For fiscal 2013-14, the government has proposed extending the scope to whiten undisclosed money via the housing sector without questioning the source of money, which the economists argue would be counterproductive for the economy.
The Centre for Policy Dialogue, the country’s pre-eminent think-tank, in its post-budget reaction said the provision would act against the growth of industries as the prices of land, which is already high, would skyrocket.
When in fiscal 2007-08 and 2009-10, the government gave scope to whiten money via real estate, it did actually cause the prices to spiral somewhat, particularly in urban areas.
A flat that cost Tk 32-35 lakh eight years ago now costs upwards of Tk 2 crore, Mubasshar Hussein, president of the Institute of Architects Bangladesh, told The Daily Star.
“The price of construction materials did not show any significant increase, so the reasons for the phenomenal rise in flat prices are the skyrocketing price of land and the injection of black money to the real estate sector,” he said.
In fiscal 2007-08, some 1,651 people legalised their undisclosed money by investing in real estate, which raked in Tk 81.70 crore in taxes for the NBR.
In fiscal 2009-10, after the present government assumed power it listed four sectors which included real estate via which amnesty to black money could be attained. A total of 1,320 people availed themselves of the opportunity and NBR received Tk 28.91 crore in taxes.
Since independence, every government has given amnesty to black money, but it did not bring in substantial revenues for the NBR.  Between 1971 to April 2013, a total of Tk 13,516 crore of undisclosed money was legalised, against which Tk 1,407 crore was received.
It is often said that black money holders prefer to launder their money abroad instead of availing the government provisions for amnesty.
A report of Global Financial Integrity published in December 2012 estimated that Bangladesh has had an illicit financial outflow of around $14 billion during 2001-2010.
The report said the most black money flight took place in 2006, 2007, and 2010, with the corresponding figures being $2,778 million, $2,737 million and $2,367 million.
 

TIB STATEMENT
The provision of legalising black money is an example of institutionalisation of corruption, Transparency International Bangladesh (TIB) said yesterday.
TIB considers it unconstitutional, immoral, discriminatory and contradictory to the government’s election pledge, Dr Iftekharuzzaman, executive director of the graft watchdog, said in a statement.
“[The scope for] whitening black money as proposed in the national budget is against the spirit of article 20 (2) of the constitution. It is immoral as it rewards illegal and corrupt behaviour and discourages honesty. It’s a clear violation of the government’s own electoral commitment.”
He said it would also discriminate against honest customers in the real estate sector and encourage people to earn beyond legal means.
Available evidence, including the finance minister’s statement, renders any financial argument illogical and unacceptable for such a provision, as no substantial revenue has been earned as a result of the provision over the years, Iftekharuzzaman continued.
“Politics may indeed be a game of compromise, as the minister told the media, but if the core principles of honesty, constitutionality, equality of all and justice are compromised for politics, then politics will have nothing to do with public interest and democratic values.”

60
BBA Discussion Forum / State enterprises bring down losses
« on: July 01, 2013, 03:39:59 PM »
State enterprises bring down losses

The amount of losses incurred by state enterprises fell by around 22 percent in the current fiscal year, compared to the previous year, due to price adjustments of power and petroleum products several times.
The amount of dividend they paid to the government was also higher, by 109 percent, compared to the previous year.
The combined net losses of 48 state enterprises stood at Tk 7,386 crore in the current fiscal year, down from Tk 9,414 crore last year, according to provisional estimates made on the basis of information available till April.
Bangladesh Petroleum Corporation and Bangladesh Power Development Board (PDB) top the chart of the loss making enterprises.
Petroleum Corporation saw a decline by 39 percent in its losses to Tk 6,941 crore, while PDB’s losses fell by about 10 percent to Tk 5,750 crore in the current fiscal year.
The prices of power and petroleum products were raised several times during the last 18 months that caused a fall in the losses of the enterprises, a finance ministry official said.
Price adjustment of power and petroleum products was a major condition of the International Monetary Fund tagged with its $1 billion credit.
As the prices had not been adjusted earlier, the government had to spend a huge subsidy on the PDB and Petroleum Corporation.
In the current fiscal year, the government allocated subsidy worth Tk 15,000 crore for the petroleum sector and more than Tk 5,000 crore for the power sector.
Despite the subsidies, the two enterprises borrow a huge amount from state banks.
The Petroleum Corporation owed Tk 19,985 crore, while the PDB Tk 4,812 crore to the state banks till March this year.
However, the amount of losses of Bangladesh Chemical Industries Corporation and Bangladesh Jute Mills Corporation marked a rise.
The losses of Chemical Industries soared by 493 percent to Tk 368 crore in the current fiscal year, while Jute Mills Corporation’s losses rose by 475 percent to Tk 380 crore.
However, 29 enterprises made profit — Bangladesh Telecommunication Regulatory Commission topped the list with Tk 5,054 crore, though the amount was higher last fiscal year at Tk 6,929 crore.
Petrobangla (Bangladesh Oil, Gas and Mineral Corporation) made a profit of Tk 513 crore, up from Tk 334 crore last year.
The state enterprises paid dividends worth Tk 961 crore this year, up from Tk 459 crore last year.

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